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As AXIS reduced its reinsurance book by 25% in Q2 2026, with professional and liability lines accounting for 58% and 42% of the reduction, respectively, the firm maintains its commitment to a cautious and disciplined strategy regarding these lines.
Despite the top-line reduction in reinsurance, the Bermuda based re/insurer saw its net income increase to $251 million in the second quarter of 2026, compared to the $216 million reported in Q2 2025.
Gross written premiums (GWP) increased to $2.7 billion, with the insurance segment going up to $2.2 billion, partially offset by the decrease in the reinsurance segment to $439 million.
The reduction in reinsurance targeted lines the company has previously designated for active cycle management.
Management attributed the pullback to unfavourable market terms and ongoing risk uncertainty in casualty trends.
AXIS President and CEO, Vincent Tizzio, said: “That was largely based on what we found to be an unfair trade on ceding commissions, cautiousness in our view of risk outlook on lost development costs, and we’ve maintained that cautious posture.
“In this quarter, actually, our growth was down 25% and that was largely because of the composition of the North American portfolio, which had a large percentage of its professional and liability business expiring.”
Despite the reduction, the executive emphasised that AXIS’s reinsurance strategy is proceeding as planned, with the firm maintaining a disciplined, cautious approach toward professional and liability lines.
“As we look to the future, our focus continues to be on specialist classes supported by highly selective and disciplined liability and professional appetites,” the executive stated.
Concluding: “We’ve maintained discipline and we do expect to continue executing that strategy. I think if you look at the six-month mark of our results, you’ll feel fairly comfortable that we’re likely to end up around the range of where we are.”
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đź“° This article is sourced from a trusted healthcare and insurance industry publication. Armfox Healthcare shares this for informational purposes only. Always consult a licensed advisor for personalized guidance.