Company: AXS-PE
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001214816-25-000115
Chunk: 104

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 2
Chunk 104
---
204,666 18 %164,043 15 %25%Agriculture48,901 4 %39,501 4 %24%Marine and aviation33,492 3 %46,134 4 %(27%)Total1,134,309 100 %1,077,622 100 %5%Run-off linesCatastrophe967 — %1,423 — %(32%)Property1,646 — %(156)— %nmEngineering1,827 — %1,033 — %77%Total run-off lines4,440 — %2,300 — %93%Total$1,138,749 100 %$1,079,922 100 %5%

nm – not meaningful

Gross premiums written for the three months ended March 31, 2025, increased by $59 million, or 5% ($60 million, or 6%, on a constant currency basis), compared to the three months ended March 31, 2024. The increase was primarily attributable to professional lines, credit and surety, liability, and agriculture lines, partially offset by decreases in accident and health, motor, and marine and aviation lines.

The increase in professional lines was attributable to new cyber business, and the timing of renewals of two significant contracts, partially offset by decreased line sizes and non-renewals.

The increase in credit and surety lines was driven by new business, including whole account turnover credit business, structured credit and political risk business, mortgage business, and new proportional surety business together with increased line sizes on credit business.

The increase in liability lines was due to the timing of renewals, the restructuring of a significant contract at Lloyds, and new business, partially offset by non-renewals.

The increase in agriculture lines was due to new business.

The decrease in accident and health lines was driven by decreased line sizes attributable to increased competition and negative premium adjustments in the three months ended March 31, 2025, compared to positive premium adjustments in the three months ended March 31, 2024, partially offset by the timing of renewals of several significant contracts.

The decrease in motor lines was attributable to decreased line sizes and non-renewals due to increased competition for non-proportional U.K. business, the timing of renewals of two significant proportional contracts and a decrease line size on a significant proportional contract, partially