Company: AXS-PE
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001214816-25-000115
Chunk: 105

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 2
Chunk 105
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 offset by positive 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 non-renewals and decreased line sizes attributable to client retentions and increased competition for marine business.

59

Ceded Premiums Written

Ceded premiums written for the three months ended March 31, 2025, was $433 million, or 38%, of gross premiums written, compared to $380 million, or 35%, of gross premiums written for the three months ended March 31, 2024. The increase in ceded premiums written of $53 million, or 14%, was primarily driven by increases in liability, professional lines, credit and surety, and agriculture lines, partially offset by decreases in motor, and accident and health lines.

The increase in liability, professional lines, credit and surety, and agriculture lines reflected the increase in gross premiums written in the three months ended March 31, 2025, compared to the three months ended March 31, 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 three months ended March 31, 2025, compared to the three months ended March 31, 2024 and the restructuring of two significant quota share retrocession treaties with strategic capital partners.

The decrease in accident and health lines reflected the decrease in gross premiums written in the three months ended March 31, 2025, compared to the three months ended March 31, 2024.

Net Premiums Earned

Net premiums earned by line of business were as follows:

  Three months ended March 31,  2025  2024  % ChangeLiability$74,140 22 %$84,419 25 %(12%)Professional lines43,175 13 %36,895 11 %17%Motor29,278 9 %31,824 9 %(8%)Accident and health68,987 21 %81,014 24 %(15%)Credit and surety63,039 19 %55,797 16 %13%Agriculture32,085 10 %23,485 7 %37%Marine and aviation15,695 5 %18,900 6 %(17%)Total326,399 99 %332,334