Company: AXS-PE
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001214816-25-000115
Chunk: 101

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 2
Chunk 101
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 ended March 31, 2024.

The decrease in property lines was due to the restructuring of a significant existing quota share treaty, partially offset by the increase in gross premiums written for the three months ended March 31, 2025, compared to the three months ended March 31, 2024. 

The decrease in marine and aviation lines was attributable to reinstatement premiums associated with losses and loss expenses for the three months ended March 31, 2024.

Net Premiums Earned 

Net premiums earned by line of business were as follows:

  Three months ended March 31,  20252024%ChangeProperty$318,333 31 %$253,593 28 %26%Professional lines202,642 20 %196,581 21 %3%Liability118,152 12 %124,639 14 %(5%)Cyber79,206 8 %82,858 9 %(4%)Marine and aviation154,946 15 %139,290 15 %11%Accident and health89,145 9 %84,257 9 %6%Credit and political risk47,662 5 %36,728 4 %30%Total$1,010,086 100 %$917,946 100 %10%

Net premiums earned for the three months ended March 31, 2025 increased by $92 million, or 10%, compared to the three months ended March 31, 2024. 

The increase was primarily driven by increases in gross premiums earned in property, and credit and political risk lines, together with decreases in ceded premiums earned in marine and aviation, and professional lines. These amounts were partially offset by increases in ceded premiums earned in liability, and credit and political risk lines.

Loss Ratio

The components of the loss ratio were as follows:

  Three months ended March 31,2025% PointChange2024Current accident year loss ratio57.0 %2.954.1 %Prior year reserve development ratio(1.4 %)(1.4)— %Loss ratio55.6 %1.554.1 %

Current Accident Year Loss Ratio

The current accident year loss ratio increased to 57.0% for the three months ended March 31, 2025, from 54.1% for the three months ended March 31, 2024