AXIS Capital Holdings Ltd reported a 10.2% revenue increase for fiscal year 2025, reaching $6.56 billion driven by its diversified specialty insurance and reinsurance portfolio. Net income declined 6.7% to $1.01 billion, impacted by timing of catastrophe-related loss payments and accounting effects from a significant Loss Portfolio Transfer (LPT) transaction completed in April 2025 with Enstar, which retroceded approximately $2.06 billion of prior year reserves. Operating cash flow turned negative at $41 million due to LPT payment timing, while liquidity remained robust with over $14 billion in cash and invested assets available quickly. AXIS maintained a solid capital base of $7.67 billion with a debt-to-capital ratio near 17%. The company returned capital actively through $888 million in share repurchases and approximately $143 million in dividends. Management continues to emphasize disciplined underwriting focus on lines with strong premium adequacy amid evolving geopolitical and economic uncertainties.