Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 64

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 64
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-GAAP Financial Measures Reconciliation' for further details.

52

Underwriting Revenues

Underwriting revenues by segment were as follows:  Three months ended September 30,Nine months ended September 30,  2025% Change20242025% Change2024Gross premiums written:Insurance$1,691,88211%$1,526,676$5,280,2207%$4,915,247Reinsurance432,3026%409,2262,154,5872%2,115,317Total gross premiums written$2,124,18410%$1,935,902$7,434,8076%$7,030,564Percent of gross premiums written cededInsurance36 %— pts36 %35 %— pts35 %Reinsurance38 %2 pts36 %39 %2 pts37 %Total percent of gross premiums written ceded36 %— pts36 %36 %— pts36 %Net premiums written:Insurance$1,084,94711%$975,911$3,420,0387%$3,192,462Reinsurance268,0423%260,0741,318,425(2%)1,339,340Total net premiums written$1,352,9899%$1,235,985$4,738,4635%$4,531,802Net premiums earned:Insurance$1,085,6126%$1,023,851$3,128,6588%$2,900,011Reinsurance366,2717%342,8501,057,4753%1,029,210Total net premiums earned$1,451,8836%$1,366,701$4,186,1337%$3,929,221

Refer to 'Management's Discussion and Analysis of Financial Condition and Results of Operations – Results by Segment' for further details on underwriting revenues.

Combined Ratio

The components of the combined ratio were as follows:  Three months ended September 30,Nine months ended September 30,  2025% PointChange20242025% PointChange2024Current accident year loss ratio, excluding catastrophe and weather-related losses(1)56.3 %0.655.7 %56.3 %0.655.7 %Catastrophe and weather-related losses ratio(1)3.0