Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 95

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 95
---
 88,017 55,084 50,349 50,018 20212,769 (378)8,207 12,683 20222,798 8,096 7,007 20232,738 16,261 20244,019 Total221,818 All outstanding liabilities before 2015, net of reinsurance5,977 Liabilities for claims and claim adjustment expenses, net of reinsurance$184,012 Insurance credit and political riskAverage annual percentage payout of incurred claims by age, net of reinsurance (unaudited)Year 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 109.6%56.7%5.8%3.8%3.3%1.5%(6.0%)(11.1%)—%—%Insurance LiabilityThe liability line of business primarily targets primary and low to mid-level excess and umbrella commercial liability, and environmental liability risks in the U.S. wholesale markets in addition to primary and excess of loss employers, public, and products liability business predominately in the U.K. Target industry sectors include construction, manufacturing, transportation and trucking and other services. Typically, this line of business is anticipated to exhibit longer claim reporting and payment patterns than most other insurance lines of business and claims are often reported and ultimately paid or settled years, or even decades, after the related loss events occur.

184

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

Insurance liabilityIncurred 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 claimsCumulative number of reported claimsAccident year2015 unaudited2016 unaudited2017 unaudited2018 unaudited2019 unaudited2020 unaudited2021 unaudited2022 unaudited2023 unaudited20242015$128,433 $127,087 $137,188 $164,685 $182,354 $187,650 $186,575 $187,816 $189,335 $194,101 $