Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 76

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 76
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 surety contracts, partially offset by a lower level of positive premium adjustments related to mortgage business.

The decrease in accident and health lines was driven by non-renewals mainly related to employer stop loss business largely attributable to client retentions and a lower level of premiums associated with a short-term medical program. The decrease in professional lines was attributable to a higher level of negative premium adjustments related to cyber business associated with challenging market conditions, partially offset by the timing of the renewal of a significant contract.

Gross premiums written for the nine months ended September 30, 2025, increased by $39 million, or 2% ($59 million, or 3%, on a constant currency basis), compared to the nine months ended September 30, 2024. The increase was primarily attributable to credit and surety, liability, agriculture and professional lines, partially offset by decreases in accident and health, marine and aviation, and motor lines.

The increase in credit and surety lines was driven by new credit and political risk business and new surety business, a higher level of positive premium adjustments attributable to credit business, partially offset by a lower level of positive premium adjustments related to mortgage business. The increase in liability lines was due to a higher level of positive premium adjustments, new general liability business at Lloyd's together with new workers compensation business, the restructuring of a contract at Lloyds, the timing of renewals, a higher level of premiums related to several contracts associated with favorable market conditions and increased line sizes, partially offset by non-renewals. The increase in agriculture lines was due to new business, partially offset by the non-renewal of a significant contract. The increase in professional lines was primarily attributable to new cyber business and the timing of the renewal of a 

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significant contract, partially offset by a higher level of negative premium adjustments related to cyber business associated with challenging market conditions, decreased line sizes mainly on cyber contracts and non-renewals.

The decrease in accident and health lines was driven by decreased line sizes and non-renewals attributable to increased competition and client retentions, a lower level of premiums associated with a short-term medical program, and negative premium adjustments in the nine months ended September 30, 2025, compared to positive premium adjustments in the nine months ended September 30, 2024 associated with a short-term medical program, partially offset by the timing of renewals of several contracts. The decrease in marine and aviation lines was related to decreased line sizes and non-renewals attributable to client retentions and