Company: AXS-PE
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001214816-25-000115
Chunk: 60

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 60
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 of significant quota share retrocession treaties with strategic capital partners.

The decrease in motor lines reflected the decrease in gross premiums written in the three months ended March 31, 2025, compared to the three months ended March 31, 2024 and the restructuring of two significant quota share retrocession treaties with strategic capital partners.

The decrease in accident and health lines reflected the decrease in gross premiums written in the three months ended March 31, 2025, compared to 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,  2025  2024  % ChangeLiability$74,140 22 %$84,419 25 %(12%)Professional lines43,175 13 %36,895 11 %17%Motor29,278 9 %31,824 9 %(8%)Accident and health68,987 21 %81,014 24 %(15%)Credit and surety63,039 19 %55,797 16 %13%Agriculture32,085 10 %23,485 7 %37%Marine and aviation15,695 5 %18,900 6 %(17%)Total326,399 99 %332,334 98 %(2%)Run-off linesCatastrophe985 — %3,484 1 %(72%)Property1,503 — %3,116 1 %(52%)Engineering1,847 1 %1,161 — %59%Total run-off lines4,335 1 %7,761 2 %(44%)Total$330,734 100 %$340,095 100 %(3%)

Net premiums earned for the three months ended March 31, 2025, decreased by $9 million, or 3%, ($3 million, or 1%, on a constant currency basis), compared to the three months ended March 31, 2024. 

The decrease was primarily driven by decreases in gross premiums earned in accident and health, and liability lines, together with increases in ceded premiums earned in professional lines and credit and surety lines. These amounts were partially offset by increases in gross premiums earned in credit and surety, agriculture, and professional lines.

Other Insurance Related Income (Loss)