Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 125

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 125
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 to the same period in 2024, was impacted by a lower level of catastrophe and weather-related losses. During the three months ended September 30, 2025, catastrophe and weather-related losses, net of reinsurance, were $43 million, or 3.9 points, including $20 million, or 1.8 points attributable to the Middle East Conflict. The remaining losses were primarily attributable to weather-related events. Comparatively, during the three months ended September 30, 2024, catastrophe and weather-related losses, were $71 million, or 7.0 points, attributable to Hurricane Helene, Hurricane Beryl, other weather-related events, and the Red Sea Conflict. 

Adjusting for the impact of the catastrophe and weather-related losses, the current accident year loss ratio of 52.3% for the three months ended September 30, 2025, is consistent with the ratio of 52.3% for the three months ended September 30, 2024, principally due to the impact of changes in business mix, rate and trend.

The current accident year loss ratio decreased to 56.4% for the nine months ended September 30, 2025, from 56.8% for the nine months ended September 30, 2024. 

The decrease in the current accident year loss ratio for the nine months ended September 30, 2025, compared to the same period in 2024, was impacted by a lower level of catastrophe and weather-related losses. During the nine months ended September 30, 2025, catastrophe and weather-related losses, net of reinsurance, were $127 million, or 4.1 points, including $31 million, or 1.0 point attributable to California Wildfires and $20 million or 0.7 points attributable to the Middle East Conflict. The remaining losses were attributable to other weather-related events. Comparatively, during the nine months ended September 30, 2024, catastrophe and weather-related losses, were $136 million, or 4.7 points, attributable to Hurricane Helene, Hurricane Beryl, other weather-related events, and the Red Sea Conflict. 

Adjusting for the impact of the catastrophe and weather-related losses, the current accident year loss ratio increased to 52.3% for the nine months ended September 30, 2025, from 52.1% for the nine months ended September 30, 2024, principally due to the impact of changes