Home›Insurance›Reinsurance›AXA XL Reinsurance premiums fall 9% in first half of 2…

AXA XL Reinsurance premiums fall 9% in first half of 2026

Pricing declined 5%, while AXA XL Insurance logged €0.1 billion of Middle East losses that raised the unit loss ratio impact.

Reported · Written up by our desk · Reinsurance

AXA XL Reinsurance, the reinsurance arm of AXA’s property, casualty and specialty risks business, reported gross written premiums and other revenues of €1.8 billion for the first half of 2026, down 9% year on year.

The decline reflected lower volumes as the unit leaned into profitability in a softer reinsurance market environment, with pricing down 5%. AXA XL also said total division earnings increased 4% at constant foreign exchange rates to €994 million over the same period.

AXA XL said underlying technical performance in its property and casualty business was pressured by €0.1 billion of losses in the Middle East within AXA XL Insurance, adding 1.1 percentage points to the unit’s loss ratio and 0.4 percentage points to the firm’s overall P&C loss ratio.

Even with those headwinds, total P&C gross written premiums rose 3% year on year to €35.1 billion in H1 2026, and underlying earnings increased 6% to €3.2 billion. AXA also reported consolidated gross written premiums and other revenues up 5% to €66.3 billion, with underlying earnings up 4% to €4.5 billion and net income up 9% at constant exchange rates to €4.2 billion.

More like this

Sources