Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 80

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 80
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,180 2 %7,494 2 %(44%)8,512 1 %15,253 2 %(44%)Total$360,470 100 %$346,266 100 %4%$691,204 100 %$686,360 100 %1%

Net premiums earned for the three months ended June 30, 2025, increased by $14 million, or 4%, compared to the three months ended June 30, 2024. 

The increase was primarily driven by increases in gross premiums earned in credit and surety, and professional lines. These amounts were partially offset by an increase in ceded premiums earned in credit and surety lines together with a decrease in gross premiums earned in agriculture lines.

Net premiums earned for the six months ended June 30, 2025, increased by $5 million, or 1%, ($12 million, or 2%, on a constant currency basis), compared to the six months ended June 30, 2024. 

The increase was primarily driven by increases in gross premiums earned in credit and surety, and professional lines. These amounts were partially offset by increases in ceded premiums earned in credit and surety, professional lines, and liability lines together with decreases in gross premiums earned in accident and health, and catastrophe lines.

Other Insurance Related Income (Loss)

Other insurance related income for the three and six months ended June 30, 2025 of $9 million and $12 million, respectively, compared to other insurance related income for the three and six months ended June 30, 2024 of $9 million and $17 million, respectively, was primarily associated with fees related to arrangements with strategic capital partners.

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Loss Ratio

The components of the loss ratio were as follows:

  Three months ended June 30,Six months ended June 30,  2025% PointChange20242025% PointChange2024Current accident year loss ratio68.0 %3.564.5 %68.4 %2.166.3 %Prior year reserve development ratio(1.4 %)(1.4)— %(1.3 %)(1.3)— %Loss ratio66.6 %2.164.5 %67.1 %0.866.3 %

Current Accident Year Loss Ratio

The current accident year loss ratio increased to 68.0% for the three