Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 69

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 69
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 in the six months ended June 30, 2025 related to program business, and a higher level of premiums associated with renewed onshore renewable energy business, partially offset by reduced opportunities in the excess and surplus lines market and a lower level of premiums related to business written on a line slip basis associated with competitive market conditions. 

The increase in marine and aviation lines was also attributable to premium adjustments principally related to aviation business written on a line slip basis, partially offset by a lower level of premiums associated with marine war business and the timing of renewals in aviation war and marine energy business. 

The decrease in cyber lines was related to the cancellation of two significant programs, partially offset by negative premium adjustments in the six months ended June 30, 2024 related to business written on a line slip basis.

Ceded Premiums Written

Ceded premiums written for the three months ended June 30, 2025 was $642 million, or 33%, of gross premiums written, compared to $620 million, or 34%, of gross premiums written for the three months ended June 30, 2024. The increase in ceded premiums written of $22 million, or 4%, was primarily driven by increases in accident and health, and professional lines, partially offset by decreases in property and cyber lines.

The increase in accident and health lines was attributable to a new quota share treaty and the increase in gross premiums written for the three months ended June 30, 2025, compared to the three months ended June 30, 2024.

The increase in professional lines reflected the increase in gross premiums written for the three months ended June 30, 2025, compared to the three months ended June 30, 2024.

The decrease in property lines was due to the restructuring of a significant existing quota share treaty.

The decrease in cyber lines reflected the decrease in gross premiums written for the three months ended June 30, 2025, compared to the three months ended June 30, 2024. 

Ceded premiums written for the six months ended June 30, 2025 was $1,253 million, or 35%, of gross premiums written, compared to $1,172 million, or 35%, of gross premiums written for the six months ended June 30, 2024. The increase in ceded premiums written of $81 million, or 7%, was primarily driven by increases in accident and health, liability, credit and political risk, professional lines, and cyber lines,