Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 76

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 76
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 %9,369 2 %(54%)8,737 — %11,668 — %(25%)Total$583,536 100 %$626,170 100 %(7%)$1,722,285 100 %$1,706,092 100 %1%

Gross premiums written for the three months ended June 30, 2025, decreased by $43 million, or 7%, compared to the three months ended June 30, 2024. The decrease was primarily attributable to professional lines, agriculture, accident and health, catastrophe, marine and aviation, liability and property lines, partially offset by an increase in credit and surety, and motor lines. 

The decrease in professional lines was attributable to the timing of renewals of two significant contracts and negative premium adjustments in the three months ended June 30, 2025 due to client retentions compared to positive premium adjustments in the three months ended June 30, 2024 attributable to timing.

The decrease in agriculture lines was due to the non-renewal a significant contract and negative premium adjustments in the three months ended June 30, 2025 associated with challenging market conditions, partially offset by new business and the timing of a renewal. 

The decrease in accident and health lines was driven by a lower level of premiums in the three months ended June 30, 2025, compared to the three months ended June 30, 2024 associated with a significant short-term medical program, and non-renewals attributable to increased competition.

The decrease in marine and aviation lines was related to decreased line sizes attributable to client retentions and increased competition for marine business and negative premium adjustments in the three months ended June 30, 2025, compared to positive premium adjustments in the three months ended June 30, 2024.

The decrease in liability lines was due to non-renewals attributable to client retentions and decreased line sizes on several contracts, largely offset by new general liability business at Lloyd's and new workers compensation business, together with a higher level of positive premium adjustments in the three months ended June 30, 2025, compared to the three months ended June 30, 2024.

The increase in credit and surety lines was driven by a higher level of premium adjustments in the three months ended June 30, 2025, compared to the three months ended June 30, 2024 attributable to credit business, together with new credit business, partially