Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 162

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 162
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Us"). In the U.S., we have the ability to write business on an admitted basis using forms and rates filed with state insurance regulators and on a non-admitted or surplus lines basis, which provides flexibility in forms and rates, as these are not filed with state regulators. Our ability to write business on a non-admitted basis in the U.S. provides us with the pricing flexibility needed to write non-standard coverages. Substantially all of our insurance business is subject to aggregate limits, in addition to event limits.

Gross premiums written by broker, shown individually where premiums by broker were 10% or more of the total in any of the last three years, were as follows:

Year ended December 31,202420232022AmWINS Group Inc.$787,703 12 %$719,651 12 %$605,727 11 %Ryan Specialty Group690,825 10 %606,583 10 %486,639 9 %Marsh & McLennan Companies Inc.658,638 10 %610,186 10 %630,085 11 %Aon plc633,297 10 %677,930 11 %697,103 12 %Other brokers2,592,262 39 %2,471,284 40 %2,276,962 41 %Other managing general agencies and underwriters (1)1,252,859 19 %1,055,130 17 %889,065 16 %Total$6,615,584 100 %$6,140,764 100 %$5,585,581 100 %

(1) Includes gross premiums written by MGAs and MGUs that are not affiliated to brokers who produced 10% or more of the total gross premiums written in any of the last three years.

No insured accounted for more than 10% of the gross premiums written in the insurance segment.

Competitive Environment

In our insurance segment, where competition is focused on price, service, availability of capacity, appetite and distribution, among other considerations, we compete globally and locally with North American and other carriers. We believe we can achieve positive differentiation through underwriting expertise in our chosen lines of business and market segments, providing customized solutions for our strategic partners and top caliber claims service levels to our customers. In addition, our investment in building an agile business model is expected to enable us to more quickly bring innovative products and services