Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 119

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 2
Chunk 119
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 ended June 30, 2025 and 2024, respectively, and $55 million and $53 million for the six months ended June 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 on corporate expenses. Refer also to 'Management’s Discussion and Analysis of Financial Condition and Results of Operations – Non-GAAP Financial Measures Reconciliation' for further details.

(2)Consolidated underwriting income (loss) is a non-GAAP financial measure as defined in Item 10(e) of SEC Regulation S-K. The reconciliation to net income (loss), the most comparable GAAP financial measure, is presented in the table above. Refer also to 'Management’s Discussion and Analysis of Financial Condition and Results of Operations – Non-GAAP Financial Measures Reconciliation' for further details.

57

Underwriting Revenues

Underwriting revenues by segment were as follows:  Three months ended June 30,Six months ended June 30,  2025% Change20242025% Change2024Gross premiums written:Insurance$1,932,4357%$1,814,066$3,588,3376%$3,388,571Reinsurance583,536(7%)626,1701,722,2851%1,706,092Total gross premiums written$2,515,9713%$2,440,236$5,310,6224%$5,094,663Percent of gross premiums written cededInsurance33 %(1 pts)34 %35 %— pts35 %Reinsurance41 %2 pts39 %39 %2 pts37 %Total percent of gross premiums written ceded35 %(1 pts)36 %36 %1 pts35 %Net premiums written:Insurance$1,290,5108%$1,194,197$2,335,0905%$2,216,551Reinsurance344,924(9%)379,5471,050,383(3%)1,079,266Total net premiums written$1,635,4344%$1,573,744$3,385,4733%$3,295,817Net premiums earned:Insurance$1,032,9618%$958,212$2,043,0479%$1,876,159Reinsurance360