Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 78

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 78
---
 premium adjustments related to a large quota share contract, and non-proportional business associated with favorable market conditions.

The decrease in marine and aviation lines was related to decreased line sizes and non-renewals attributable to client retentions and increased competition for marine business.

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

67

Ceded Premiums Written

Ceded premiums written for the three months ended June 30, 2025, was $239 million, or 41%, of gross premiums written, compared to $247 million, or 39%, of gross premiums written for the three months ended June 30, 2024. The decrease in ceded premiums written of $8 million, or 3%, was primarily driven by a decrease in professional lines, partially offset by increases in liability, and credit and surety lines.

The decrease in professional lines reflected the decrease in gross premiums written in the three months ended June 30, 2025, compared to the three months ended June 30, 2024, and the restructuring of significant quota share retrocession treaties with strategic capital partners.

The increase in liability lines reflected the restructuring of a significant quota share retrocession treaty with a strategic capital partner.

The increase in credit and surety lines reflected the increase in gross premiums written in the three months ended June 30, 2025, compared to the three months ended June 30, 2024.

Ceded premiums written for the six months ended June 30, 2025, was 672 million, or 39%, of gross premiums written, compared to $627 million, or 37%, of gross premiums written for the six months ended June 30, 2024. The increase in ceded premiums written of 45 million, or 7%, was primarily driven by increases in liability, credit and surety, and professional lines, partially offset by decreases in motor, and accident and health lines.

The increases in liability, credit and surety, and professional lines reflected the increase in gross premiums written in the six months ended June 30, 2025, compared to the six months ended June 30, 2024, and the restructuring of significant quota share retrocession treaties with strategic capital partners.

The decrease in motor lines reflected the decrease in gross premiums written in the six months ended June 30, 2025,