Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 77

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 77
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 increased competition for marine business. The decrease in motor lines was attributable to decreased line sizes and non-renewals due to increased competition for non-proportional U.K. business, partially offset by a higher level of positive premium adjustments primarily related to non-proportional business associated with favorable market conditions.

Ceded Premiums Written

Ceded premiums written for the three months ended September 30, 2025, was $164 million, or 38%, of gross premiums written, compared to $149 million, or 36%, of gross premiums written for the three months ended September 30, 2024. The increase in ceded premiums written of $15 million, or 10%, was primarily driven by increases in liability and agriculture lines, partially offset by a decrease in accident and health lines.

The increases in liability and agriculture reflected the increase in gross premiums written in the three months ended September 30, 2025, compared to the three months ended September 30, 2024. The increase in liability lines was also driven by the restructuring of a significant quota share retrocession treaty with a strategic capital partner. The increase in agriculture lines was also due to the restructuring of a quota share retrocession treaty.

The decrease in accident and health lines reflected the decrease in gross premiums written in the three months ended September 30, 2025, compared to the three months ended September 30, 2024.

Ceded premiums written for the nine months ended September 30, 2025, was $836 million, or 39%, of gross premiums written, compared to $776 million, or 37%, of gross premiums written for the nine months ended September 30, 2024. The increase in ceded premiums written of $60 million, or 8%, was primarily driven by increases in liability, credit and surety, agriculture and professional lines, partially offset by decreases in accident and health, and motor lines.

The increases in liability, credit and surety, and agriculture lines reflected the increase in gross premiums written in the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024. The increases in liability, and credit and surety also reflected the restructuring of quota share retrocession treaties with strategic capital partners. The increases in credit and surety, and agriculture lines were also due to the restructuring of quota share retrocession treaties. The increase in professional lines reflected the restructuring of quota share retrocession treaties with strategic capital partners.

The decrease in accident and