Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 86

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 86
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 115,070 116,933 117,122 201861,218 105,324 107,655 111,312 112,202 113,014 114,104 201944,652 60,623 62,033 66,971 66,828 68,263 202036,035 51,481 59,608 57,944 61,786 202138,828 60,470 68,183 69,489 202245,663 80,164 87,242 202393,765 135,134 2024122,628 Total920,457 All outstanding liabilities before 2015, net of reinsurance656 Liabilities for claims and claim adjustment expenses, net of reinsurance$134,285 Insurance accident and healthAverage annual percentage payout of incurred claims by age, net of reinsurance (unaudited)Year 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 1054.2%33.2%6.0%1.9%1.7%0.5%1.1%(0.2%)(1.3%)0.2%Insurance Marine and AviationThe marine line of business provides cover for a range of exposures including offshore energy, renewable offshore energy, cargo, liability including kidnap and ransom, fine art, specie, and hull war. Offshore energy coverages include physical damage, business interruption, operator's extra expense and liability coverage for all aspects of offshore upstream energy from exploration and construction through the operation and distribution phases. The complex nature of claims arising under marine policies tends to result in reporting and payment patterns that are longer than those of the property line of business with marine liability exhibiting the longest reporting and payment patterns as claims involve passengers and third parties. Exposure to natural perils such as windstorm and earthquake can result in volatility.The aviation line of business provides cover for hull and liability, and specific war cover primarily for passenger airlines but also for cargo operations, general aviation operations, airports, aviation authorities, security firms and product manufacturers. The claims reporting pattern varies by insurance coverage provided. Losses arising from war or terrorism and damage to hulls of aircraft are generally reported quickly compared with liability claims which involve passengers and third parties and generally exhibit longer reporting and payment patterns.

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AXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS