Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 46

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 46
---
verse)Favorable (Adverse)Favorable (Adverse)Favorable (Adverse)Insurance$15,216 $— $29,194 $— Reinsurance5,013 — 8,972 — Total$20,229 $— $38,166 $— The following sections provide further details on net favorable (adverse) prior year reserve development by segment, reserve class and accident year:Insurance Segment:The following table maps the Company's lines of business to reserve classes:Insurance segmentReserve classPropertyCasualtySpecialty otherReported lines of businessPropertyXProfessional linesXLiabilityXCyberXMarine and aviationXAccident and healthXCredit and political riskXPrior year reserve development by reserve class was as follows:Three months ended June 30,Six months ended June 30,2025202420252024Favorable (Adverse)Favorable (Adverse)Favorable (Adverse)Favorable (Adverse)Property$6,980 $— $16,976 $8,011 Casualty— — — — Specialty other8,236 — 12,218 (8,011)Total$15,216 $— $29,194 $— 2025For the three months ended June 30, 2025, net favorable prior year reserve development of $15 million was recognized, the principal component of which was: •$7 million of net favorable prior year reserve development on property business primarily due to better than expected loss emergence mainly related to the 2023 accident year.

40

Table of  ContentsAXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)6.    RESERVE FOR LOSSES AND LOSS EXPENSES (CONTINUED)

•$8 million of net favorable prior year reserve development on the specialty other reserve class primarily due to better than expected loss emergence attributable to the credit and political risk line of business.2025For the six months ended June 30, 2025, net favorable prior year reserve development of $29 million was recognized, the principal component of which was: •$17 million of net favorable prior year reserve development on property business primarily due to better than expected loss emergence mainly related to the 2023 accident year.•$12 million of net favorable prior year reserve development on the specialty other