Axis Capital

Q3 FY2026 EarningsQ3 FY26 results were mixed, with a solid beat on operating EPS ($3.12 vs. $2.85 expected) and revenue ($1.79B vs. $1.39B expected), despite a miss on GAAP EPS ($2.75 vs. $2.90 expected). The insurance segment showed strong momentum with a 13% increase in gross premiums, while the group combined ratio worsened to 94.0% (up 4.6pts YoY) due to higher catastrophe losses and acquisition costs. Book value per diluted share excluding AOCI grew 14.4% YoY to $84.33, significantly exceeding the consensus of $81.90.