Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 281

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 281
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 Analysis of Financial Condition and Results of Operations – Non-GAAP Financial Measures Reconciliation' for further details.

63

Underwriting Revenues

Underwriting revenues by segment were as follows:Year ended December 31,2024% Change2023% Change2022Gross premiums written:Insurance$6,615,5848%$6,140,76410%$5,585,581Reinsurance2,390,3048%2,215,761(16%)2,629,014Total gross premiums written$9,005,8888%$8,356,5252%$8,214,595Percent of gross premiums written ceded:Insurance36 %(3 pts)39 %(1 pt)40 %Reinsurance37 %(2 pts)39 %11 pts28 %Total percent of gross premiums written ceded36 %(3 pts)39 %3 pts36 %Net premiums written:Insurance$4,250,54513%$3,758,72011%$3,377,906Reinsurance1,506,80612%1,343,605(29%)1,885,150Total net premiums written$5,757,35113%$5,102,325(3%)$5,263,056Net premiums earned:Insurance$3,926,03613%$3,461,70010%$3,134,155Reinsurance1,380,199(15%)1,622,081(20%)2,026,171Total net premiums earned$5,306,2354%$5,083,781(1%)$5,160,326

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:Year ended December 31,2024% PointChange2023% PointChange2022Current accident year loss ratio, excluding catastrophe and weather-related losses (1)55.7 %(0.2)55.9 %0.4 55.5 %Catastrophe and weather-related losses ratio(1)4.3 %1.6 2.7 %(5.1)7.8 %Current accident year loss ratio(1)60.0 %1.4 58.6 %(4.7)63.3 %Prior