Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 74

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 74
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 ratio decreased to 12.0% for the six months ended June 30, 2025, from 12.5% for the six months ended June 30, 2024, mainly driven by an increase in net premiums earned, partially offset by an increase in  personnel costs associated with new underwriting teams.

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Reinsurance Segment

Results from the reinsurance segment were as follows:

  Three months ended June 30,Six months ended June 30,  2025% Change20242025% Change2024Revenues:Gross premiums written$583,536(7%)$626,170$1,722,2851%$1,706,092Net premiums written344,924(9%)379,5471,050,383(3%)1,079,266Net premiums earned360,4704%346,266691,2041%686,360Other insurance related income8,6561%8,58712,078(29%)16,906Expenses:Current accident year net losses and loss expenses(244,997)(223,397)(472,793)(455,204)Prior year reserve development5,013—8,972— Acquisition costs(80,985)(77,065)(151,544)(155,290)Underwriting-related general and administrative expenses(10,595)(8,874)(21,441)(24,580)Underwriting income$37,562$45,517$66,476$68,192 Ratios:% PointChange% PointChangeCurrent accident year loss ratio, excluding catastrophe and weather-related losses67.9 %3.764.2 %68.2 %2.266.0 %Catastrophe and weather-related losses ratio0.1 %(0.2)0.3 %0.2 %(0.1)0.3 %Current accident year loss ratio68.0 %3.564.5 %68.4 %2.166.3 %Prior year reserve development ratio(1.4 %)(1.4)— %(1.3 %)(1.3)— %Net losses and loss expenses ratio66.6 %2.164.5 %67.1 %0.866.3 %Acquisition cost ratio22.5 %0.222.3 %21.9 %(0.7)