Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 106

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 106
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 of a non-payment by the buyer of those goods and services. Credit and political risk insurance covers a range of risks predominantly corporate and sovereign non-payment. Surety reinsurance provides protection for losses arising from a broad array of surety bonds issued by insurers to satisfy regulatory demands, contract, and commercial obligations in a variety of jurisdictions around the world. Mortgage reinsurance is provided to mortgage guaranty insurers, U.S. government-sponsored entities and other mortgage participants. These entities seek to manage their credit risk exposure emanating from defined pools of mortgage loans. Initial and most recent underwriting year loss projections are generally based on the ELR Method, with consideration given to qualitative factors. Given that there is a quicker and more stable reporting pattern for trade credit and mortgage business, the Company generally commences the transition to experience-based methods sooner for these lines of business than for surety business.Reinsurance credit and suretyIncurred claims and allocated claim adjustment expenses, net of reinsuranceAt December 31, 2024For the years ended December 31,Total of incurred-but-not-reported liabilities plus expected development on reported claimsAccident year2015 unaudited2016 unaudited2017 unaudited2018 unaudited2019 unaudited2020 unaudited2021 unaudited2022 unaudited2023 unaudited20242015$156,256 $159,662 $154,425 $150,883 $132,750 $133,679 $134,817 $129,441 $125,761 $125,755 $1,361 2016138,199 136,760 144,405 119,427 112,113 109,778 107,428 109,579 111,169 592 2017135,014 128,141 122,255 113,551 111,099 110,948 111,360 110,277 2,239 2018108,874 115,673 109,266 106,339 101,044 87,774 87,535 3,276 201972,245 64,952 64,711 62,649 54,467 54,501 3,369 202076,156 82,568 68,240 94,044 89,395 13,239 202151,523 43,356 40,832 41,061