Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 46

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 46
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2025, the Company recognized catastrophe and weather-related losses, net of reinsurance, of $129 million (2024: $145 million).

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Table of  ContentsAXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)6.    RESERVE FOR LOSSES AND LOSS EXPENSES (CONTINUED)

Prior Year Reserve DevelopmentThe Company's net favorable (adverse) prior year reserve development arises from changes to estimates of losses and loss expenses related to loss events that occurred in previous calendar years. The following table presents net favorable (adverse) prior year reserve development by segment:  Three months ended September 30,Nine months ended September 30,2025202420252024Favorable (Adverse)Favorable (Adverse)Favorable (Adverse)Favorable (Adverse)Insurance$14,843 $4,009 $44,036 $4,008 Reinsurance4,103 4,003 13,076 4,003 Total$18,946 $8,012 $57,112 $8,011 The following sections provide further details on net favorable (adverse) prior year reserve development by segment, reserve class and accident year:Insurance Segment:The following table maps the Company's lines of business to reserve classes:Insurance segmentReserve classPropertyCasualtySpecialty otherReported lines of businessPropertyXProfessional linesXLiabilityXCyberXMarine and aviationXAccident and healthXCredit and political riskXPrior year reserve development by reserve class was as follows:Three months ended September 30,Nine months ended September 30,2025202420252024Favorable (Adverse)Favorable (Adverse)Favorable (Adverse)Favorable (Adverse)Property$6,908 $2,043 $23,883 $10,053 Casualty— — — — Specialty other7,935 1,966 20,153 (6,045)Total$14,843 $4,009 $44,036 $4,008 2025For the three months ended September 30, 2025, net favorable prior year reserve development of $15 million was recognized, the principal components of which were: •$7 million of net favorable prior year reserve development on property business.•$8