AXIS Capital

AXIS Reinsurance (AXIS Re), a division of AXIS Capital, is a global provider of specialty reinsurance solutions. In 2024, it reported gross premiums written of $2.4 billion and a combined ratio of 92 percent.

History of AXIS Reinsurance

AXIS Re began as part of AXIS Capital Holdings Limited, which was founded in Bermuda in 2001. It was created to meet the rising demand for reinsurance after major global events.

Since then, it has grown into a key player in specialty reinsurance worldwide. Other key moments in AXIS Reinsurance’s history include:

• 2003: initial public offering on the NYSE under the ticker symbol AXS
• 2007: acquired Media/Professional Insurance to expand specialty liability offerings
• 2014: entered aviation insurance through the acquisition of Aviabel
• 2015: attempted $13 billion merger with PartnerRe
• 2017: acquired Novae Group plc, enhancing presence at Lloyd’s of London
• 2020: co-founder Michael Butt retired after five decades in the insurance industry
• 2023: Vincent Tizzio appointed as President and CEO, succeeding Albert Benchimol
• 2024: launched Energy Transition Syndicate 2050 to support net-zero energy projects

AXIS entered a loss portfolio transfer agreement with Enstar Group, covering $2.3 billion in reinsurance reserves. It also closed the market’s first 144A cyber catastrophe bond, a $75 million transaction.

In the same year, AM Best affirmed AXIS’s A (Excellent) rating, citing strong balance sheet strength and improved underwriting performance.

Reinsurance products and services

AXIS Reinsurance delivers tailored protection across industries, backed by strong expertise and elevated broker service:

• A&H reinsurance: covers accident and health risks including travel, medical, and employer plans
• agriculture: protects crops and agribusinesses from weather, disease, and economic risk
• aviation: supports aircraft and aerospace clients against liability and physical damage risks
• casualty: includes general liability, workers’ comp, and professional lines for global clients
• credit and surety: protects against payment defaults, contract risks, and trade finance exposure
• marine & energy: insures marine cargo, hull, offshore platforms, and related marine energy risk
• mortgage: supports residential and commercial lenders through reinsurance of mortgage default risks
• property: protects physical assets from natural disasters and other insured events

AXIS Reinsurance also offers brokers fast access to tools, appetite guides, and application documents. It’s designed to help brokers meet client needs quickly and easily.

Culture and core values

AXIS Reinsurance builds its culture on shared purpose, teamwork, and personal accountability. Its people value excellence, fast decisions, and working better together every day.

Employee benefits

Staff at AXIS Re are supported with flexible work perks and programs that help them feel their best outside work:

• competitive compensation: offers fair market pay, annual bonuses, and performance-based long-term rewards
• work-life perks: includes hybrid work, backup childcare, mental wellness, and generous caregiver support
• comprehensive benefits: provides top-tier health, dental, and vision plans, plus accident insurance at no cost
• flexible leave: gives four weeks of PTO, unlimited sick days, and parental leave for all family types
• learning support: includes tuition aid, early career programs, and leadership development tools
• charity engagement: supports global giving, matched donations, and volunteer time off
• equity and inclusion: promotes belonging through employee resource groups and a global recognition platform
• career growth: offers skills training and feedback channels through surveys and engagement reviews

AXIS employees often say it’s a better place to work than its peers. Its hybrid model and feedback culture help build that strong experience.

Sustainability approach

AXIS Reinsurance’s sustainability approach focuses on long-term resilience through forward thinking and practical response. They have four focus areas:

1. planet: climate risk efforts under sustainability frameworks
2. people: long-term value for employees and customers
3. philanthropy: global and local volunteer support
4. governance and disclosure: guided by values and transparent policies

AXIS Re uses its platform to push for positive change. It actively joins industry groups that share these goals.

The future at AXIS Reinsurance

AXIS entered a $2.3 billion loss portfolio transfer to reduce legacy reserve risk. The move helps streamline its balance sheet and sharpen focus on specialty underwriting. It allows the company to free up capital and invest in future growth.

AXIS Reinsurance showed financial strength with a new $400 million buyback and quarterly dividend payout. Its solid “A” and “A+” ratings support confidence in continued growth and capital returns. Rising investment income and strong earnings reflect the company’s focused and profitable strategy.