Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 176

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 176
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Lloyd’s has a global network of licenses and authorizations, and underwriters at Lloyd's may write business in countries where Lloyd’s has authorized status or exemptions available to non-admitted insurers or reinsurers. Lloyd’s licenses can only be used if the Syndicate Business Forecast, agreed annually with Lloyd’s, names those countries. Lloyd’s also manages and protects the Lloyd’s network of international licenses, monitors syndicates’ compliance with Lloyd’s Principles for doing business and is responsible for setting both member and central capital levels.

AXIS Managing Agency Ltd. operated an underwriting division at Lloyd’s Insurance Company (China) Limited, a wholly-owned subsidiary of the Corporation of Lloyd’s which allowed it to underwrite reinsurance in China. Syndicate 1686 ceased underwriting business on the Lloyd's China platform effective December 31, 2021. This business was placed in run-off effective January 1, 2022.

AXIS Corporate Capital UK Limited

AXIS Corporate Capital UK Limited is a corporate member of Syndicate 1686, providing 70% capital support. It ceased providing capital support to Syndicate 1686 on December 31, 2024. 

AXIS Corporate Capital UK II Limited

AXIS Corporate Capital UK II Limited is a corporate member of Syndicate 1686, providing 30% capital support. It provides 100% capital support to Syndicate 1686 with effect from January 1, 2025.

AXIS Corporate Capital UK II Limited is also a corporate member of Syndicate 2050, providing 100% capital support.

AXIS Underwriting Limited

AXIS Underwriting Limited is authorized and regulated by the FCA as an insurance intermediary. AXIS Underwriting Limited underwrites insurance on behalf of AXIS Specialty Europe and at Lloyd's on behalf of Syndicate 1686.

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Contessa Limited

Effective December 2019, Contessa Limited ceased writing insurance on behalf of AXIS Specialty Europe and was dissolved on April 11, 2024. AXIS Specialty Europe manages the Contessa book of business on a run-off basis. 

AXIS Specialty UK Holdings Limited

AXIS Specialty UK Holdings Limited is incorporated under the laws of England and Wales, and is the limited liability holding company for AXIS Managing Agency Ltd., AXIS Corporate Capital UK Limited and Novae Group Limited.

Reinsurance

AXIS Managing Agency Ltd. remains able to conduct non-life facultative, proportional and excess of loss reinsurance throughout the EEA via Lloyd’s Europe. UK regulated firms