Axis Capital Holdings Limited · NYSE:AXS
Axis Capital — Q1 2026 Earnings Presentation
15 slides from Axis Capital's earnings presentation, Apr 30, 2026
Slide 1: Investor Presentation First Quarter 2026
Investor Presentation 2026 First Quarter
Slide 2: Safe Harbor Statement
Safe Harbor Statement CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Insurance Risk: the cyclical nature of insurance and reinsurance business leading to periods with excess underwriting capacity and unfavorable premium rates; the frequency and severity of natural and man-made disasters; the e
Slide 3: AXIS Aspiration
AXIS Aspiration A leading Specialty Underwriter, generating consistent top-quartile diluted book value per common share (“DBVPS”) growth for shareholders 3
Slide 4: AXIS at a Glance
AXIS at a Glance Our strategic focus is on Specialty products: First Quarter 2026 Headlines Risk transfer solutions that require customized and tailored offerings delivered by underwriting expertise through differentiated distribution channels and customer profiles Strong Insurance Segment Gross Gro
Slide 5: A Leading Specialty Underwriter
A Leading Specialty Underwriter Built for all seasons, an operating model that enables us to pivot as needed Performance Poised for culture that is profitable both results driven growth driven and people- by our strategic oriented initiatives A global distribution Disciplined cycle model grounded in
Slide 6: Global Specialty Platform
Global Specialty Platform Serve global clients Presence in all Full licensing to Multivariate and different critical markets compete and grow distribution model customer segments Legal entity footprint Licenses and permissions in Multiple, well‑established A diversified set of specialty providing ac
Slide 7: Winning on Talent
Winning on Talent Dynamic and Experienced Attracting Specialty Underwriting Leadership Team Talent and Building Capabilities Capabilities added include: NA Environmental Vincent C. Tizzio Matthew Kirk Ann Haugh President and CEO CFO Chief Operations Joined Nov. 2025 Officer US Construction 7 years a
Slide 8: Specialty Experts
Specialty Experts Products requiring specialty expertise, GPW, last 12 months1 First Quarter Performance Highlights Other3 • Gross premiums written were up 11% Cyber2 year-over-year to $3.1 billion Property4 Credit, Surety 5% 4% • Insurance increased by $328 million, or & Political Risk 23% 20% 10%
Slide 9: Cycle Management
Cycle Management Portfolio Reshaping First Quarter Performance Highlights Insurance Gross Premiums Written Reinsurance Gross Premiums Written • The construction of our portfolio is Group Combined Ratio guided by our principled view in managing the mix of our portfolio to achieve profitable growth •
Slide 10: Insurance Overview
Insurance Overview Product mix, GPW, last 12 months1 First Quarter Performance Highlights Credit & Political Risk • Gross premiums written were up 20% Cyber year-over-year to $2.0 billion, including 5% $724 million in new business 7% Accident & Health Property2 • Gross premiums written growth was 30
Slide 11: Reinsurance Overview
Reinsurance Overview Product mix, GPW, last 12 months1 First Quarter Performance Highlights Marine & Aviation Run-off Lines2 • Continued to deliver positive bottom- Agriculture 2% 2% line results, maintaining commitment to 7%7% Credit & Surety generate consistent profitability and low Motor volatili
Slide 12: Consistent and Predictable Underwriting Performance
Consistent and Predictable Underwriting Performance Consistent Top Quartile Results With Less Volatility Than Our Peers Financial periods Q1’24 through Q4’25 unless otherwise noted AXS (Old) (Q1’18 - Q4’21) AXS (Transition) (Q1’22 - Q4’23) • The low volatility within our AXS (Q1’24 - Q4’25) Peer Com
Slide 13: "How We Work" Leverages our Competitive Platform, while Driving Productivity and Efficiency
"How We Work" Leverages our Competitive Platform, while Driving Productivity and Efficiency How We Work program launched in 2023 to enhance how we operate and how we go to market Group G&A Ratio From year end 2023 to 2025, Gross Premiums Written have grown 15% while G&A dollars spent has only risen
Slide 14: Well-Positioned Portfolio Driving Strong Investment Returns
Well-Positioned Portfolio Driving Strong Investment Returns Strong and Stable Investment portfolio at 3/31/2026 Non-Fixed Income 4 Investment Income Fixed Maturities A+ Total cash and investments Net investment income, in millions 2% Weighted average credit rating of fixed $208 4% maturities portfol
Slide 15: Capital Management Aligned with Strategy Execution
Capital Management Aligned with Strategy Execution Capital Deployment 1 Organic deployment in underwriting and investments 2 Investments in capabilities, including underwriting tools and AI 3 Capital returns of $1 billion in 2025, including $888 million in share repurchases 4 Inorganic opportunities
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