Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 47

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 47
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 million of net favorable prior year reserve development on the specialty other reserve class primarily due to better than expected loss emergence attributable to the credit and political risk line of business.

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

2025For the nine months ended September 30, 2025, net favorable prior year reserve development of $44 million was recognized, the principal components of which were: •$24 million of net favorable prior year reserve development on property business.•$20 million of net favorable prior year reserve development on the specialty other reserve class primarily due to better than expected loss emergence attributable to the credit and political risk line of business and the accident and health line of business.2024For the nine months ended September 30, 2024, net prior year reserve development of $4 million was recognized, the principal components of which were: •$10 million of net favorable prior year reserve development on property business primarily due to better than expected loss emergence mainly related to the 2021 and 2022 accident years.•$6 million of net adverse prior year reserve development on the specialty other reserve class attributable to the marine and aviation line of business due to an increase in the loss estimate attributable to a specific large claim related to the 2019 accident year.Reinsurance Segment:The following table maps the Company's lines of business to reserve classes:Reinsurance segmentReserve classCasualtySpecialtyRun-offReported lines of businessLiabilityXProfessional linesXMotorXAccident and healthXCredit and suretyXAgricultureXMarine and aviationXCatastropheXPropertyXEngineeringXPrior year reserve development by reserve class was as follows:  Three months ended September 30,Nine months ended September 30,  2025202420252024Favorable(Adverse)Favorable(Adverse)Favorable(Adverse)Favorable(Adverse)Casualty$— $— $— $— Specialty4,103 4,003 12,951 4,003 Run-off— — 125 — Total$4,103 $4,003 $13,076 $4,003 2025For the nine months ended September 30, 2025, net favorable prior year reserve development of $13