Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 331

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 331
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,964 43,011 109,372 152,383 Marine and aviation70,595 104,761 175,355 79,792 91,369 171,161 Professional lines503,440 876,563 1,380,003 558,556 860,748 1,419,304 Credit and surety172,794 258,121 430,915 171,298 196,735 368,033 Motor744,467 403,558 1,148,025 809,811 372,331 1,182,142 Liability793,040 1,637,890 2,430,930 733,697 1,694,122 2,427,818 Run-off linesCatastrophe204,448 204,697 409,145 373,031 196,573 569,604 Property141,215 60,042 201,257 204,217 77,440 281,657 Engineering71,833 35,617 107,452 86,877 34,842 121,720 Total run-off lines417,496 300,356 717,854 664,125 308,855 972,981 Total Reinsurance2,786,539 3,932,687 6,719,226 3,115,475 3,811,134 6,926,609 Total$5,433,903 $11,785,026 $17,218,929 $5,559,261 $10,874,757 $16,434,018 

(1)    Significant gross claims associated with certain credit and political risk contracts were paid in advance of recoveries being received from the corresponding security that resulted in negative gross case reserves of $(54) million at December 31, 2024 (2023: $(60) million) and related negative reinsurance recoverable on unpaid losses and loss expenses of $(27) million at December 31, 2024 (2023: $(29) million). Refer to 'Reserving for Credit and Political Risk Business' below for further details.   

In order to capture the key dynamics of loss reserve development and potential volatility, lines of business should be considered according to their potential expected length of loss emergence and settlement, generally referred to as the "tail". Favorable development