Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 65

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 65
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%(2.8)5.8 %3.1 %(0.6)3.7 %Current accident year loss ratio(1)59.3 %(2.2)61.5 %59.4 %—59.4 %Prior year reserve development ratio(1.3%)(0.7)(0.6%)(1.4%)(1.2)(0.2%)Net losses and loss expenses ratio58.0 %(2.9)60.9 %58.0 %(1.2)59.2 %Acquisition cost ratio19.7 %(0.4)20.1 %19.7 %(0.5)20.2 %General and administrative expense ratio(2)11.7 %(0.4)12.1 %11.8 %(0.4)12.2 %Combined ratio89.4 %(3.7)93.1 %89.5 %(2.1)91.6 %

(1)    Current accident year loss ratio, catastrophe and weather-related losses ratio and current accident year loss ratio, excluding catastrophe and weather-related losses are non-GAAP financial measures as defined in Item 10(e) of SEC Regulation S-K. The reconciliations to the most comparable GAAP financial measure, net losses and loss expenses ratio is provided above and a discussion of the rationale for the presentation of these items are provided in 'Management’s Discussion and Analysis of Financial Condition and Results of Operations – Non-GAAP Financial Measures Reconciliation'.

(2)    The general and administrative expense ratio included corporate expenses not allocated to underwriting segments of 2.0% and 2.5% for the three months ended September 30, 2025 and 2024, respectively, and 2.0% and 2.2% for the nine months ended September 30, 2025 and 2024, respectively. Refer to 'Management’s Discussion and Analysis of Financial Condition and Results of Operations – Other Expenses (Revenues), Net' for further details.

Refer to 'Management's Discussion and Analysis of Financial Condition and Results of Operations – Results by Segment' for further details on underwriting expenses.

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RESULTS BY SEGMENT

Insurance Segment

Results for the insurance segment were as follows:   Three months ended September 30,Nine months ended September 30,  2025% Change202