Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 133

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 133
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3 %1.466.9 %Prior year reserve development ratio(1.1%)—(1.1%)(1.2%)(0.8)(0.4%)Loss ratio67.1 %0.266.9 %67.1 %0.666.5 %

Current Accident Year Loss Ratio

The current accident year loss ratio of 68.2% for the three months ended September 30, 2025, was comparable to 68.0% for the three months ended September 30, 2024. 

61

During the three months ended September 30, 2025, catastrophe and weather-related losses, net of reinsurance, were $1.0 million. Comparatively, during the three months ended September 30, 2024, catastrophe and weather-related losses, were $7 million, or 2.0 points, attributable to weather-related events. 

Adjusting for the impact of the catastrophe and weather-related losses, the current accident year loss ratio increased to 67.9% for the three months ended September 30, 2025, from 66.0% 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 increased to 68.3% for the nine months ended September 30, 2025, from 66.9% for the nine months ended September 30, 2024. 

During the nine months ended September 30, 2025, catastrophe and weather-related losses, net of reinsurance, were $3 million, or 0.2 points, primarily attributable to California Wildfires. Comparatively, during the nine months ended September 30, 2024, catastrophe and weather-related losses, were $9 million, or 0.9 points, attributable to weather-related events. 

Adjusting for the impact of the catastrophe and weather-related losses, the current accident year loss ratio increased to 68.1% for the nine months ended September 30, 2025, from 66.0% for the nine months ended September 30, 2024, principally due to the impact of rate and trend, partially offset by changes in business mix.

Prior Year Reserve Development 

Refer to Item 1, Note 6 to the Consolidated Financial Statements 'Reserve for losses and loss expenses' for details on prior year reserve development by segment, reserve