Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 73

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 73
---
 three months ended September 30, 2024, primarily related to an increase in ceding commission in accident and health lines, partially offset by a decrease in ceding commissions in liability and property lines. 

The acquisition cost ratio decreased to 19.0% for the nine months ended September 30, 2025, from 19.6% for the nine months ended September 30, 2024, primarily related to increases in ceding commission in accident and health lines.

Underwriting-Related General and Administrative Expense Ratio

The underwriting-related general and administrative expense ratio increased to 12.1% for the three months ended September 30, 2025, from 11.6% for the three months ended September 30, 2024, mainly driven by investments in underwriting teams and information technology, partially offset by an increase in net premiums earned.

The underwriting-related general and administrative expense ratio of 12.0% for the nine months ended September 30, 2025, was comparable to 12.2% for the nine months ended September 30, 2024, with an increase in net premiums earned, largely offset by investments in underwriting teams and information technology.

57

Reinsurance Segment

Results from the reinsurance segment were as follows:

  Three months ended September 30,Nine months ended September 30,  2025% Change20242025% Change2024Revenues:Gross premiums written$432,3026%$409,226$2,154,5872%$2,115,317Net premiums written268,0423%260,0741,318,425(2%)1,339,340Net premiums earned366,2717%342,8501,057,4753%1,029,210Other insurance related income6,332(6%)6,74518,411(22%)23,651Expenses:Current accident year net losses and loss expenses(249,731)(233,221)(722,524)(688,425)Prior year reserve development4,1034,00313,0764,003 Acquisition costs(80,178)(71,680)(231,722)(226,970)Underwriting-related general and administrative expenses(11,785)(12,333)(33,226)(36,913)Underwriting income$35,012$36,364$101,490$104,556 Ratios:% PointChange%