Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 113

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 113
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 cedants. The predominant exposure is to property damage, but other risks, including business interruption and other non-property losses, may also be covered when arising from a covered peril. The most significant perils covered by policies in this portfolio include windstorm, tornado and earthquake, but other perils such as freezes, riots, flood, industrial explosions, fire, hail and a number of other loss events are also included. This business is written on a proportional and excess of loss basis. The Company exited this line of business in June 2022.

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AXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTSDECEMBER 31, 2024, 2023 AND 20228.    RESERVE FOR LOSSES AND LOSS EXPENSES (CONTINUED)

The engineering line of business provides protection for all types of construction risks and risks associated with erection, testing and commissioning of machinery and plants during the construction stage. This line of business also includes cover for losses arising from operational failures of machinery, plant and equipment, and electronic equipment as well as business interruption. The Company exited this line of business in 2020.In general, reporting and payment patterns are relatively short although they can be volatile due to the incidence of catastrophe events. Losses from engineering exposures tend to develop slower than the other reinsurance run-off lines of business.Reinsurance run-offIncurred claims and allocated claim adjustment expenses, net of reinsuranceAt December 31, 2024For the years ended December 31,Total of incurred-but-not-reported liabilities plus expected development on reported claimsAccident year2015 unaudited2016 unaudited2017 unaudited2018 unaudited2019 unaudited2020 unaudited2021 unaudited2022 unaudited2023 unaudited20242015$264,343 $252,265 $252,266 $243,094 $241,916 $246,713 $244,566 $242,674 $240,289 $240,152 $1,636 2016278,963 277,871 275,202 269,952 273,294 273,472 273,184 266,307 265,991 3,048 2017701,995 702,732 743,852 744,427 742,270 733,045 725,458 729,636 23,633 201851