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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company's underwriting operations are organized around its global underwriting platforms, AXIS Insurance and AXIS Re. The Company has determined that it has two reportable segments, insurance and reinsurance.

Insurance

The Company's insurance segment offers specialty insurance products to a variety of markets on a worldwide basis. The product lines in this segment are property, professional lines, liability, cyber, marine and aviation, accident and health, and credit and political risk.

Reinsurance

The Company's reinsurance segment provides treaty reinsurance to insurance companies on a worldwide basis. The product lines in this segment are liability, professional lines, motor, accident and health, credit and surety, agriculture, marine and aviation, and run-off lines which include catastrophe and property lines of business that the Company placed into run-off in 2022 and engineering lines of business that the Company placed into run-off in 2020.
The Company does not allocate its assets by segment, with the exception of goodwill and intangible assets.

The following tables present the underwriting results of the Company's reportable segments, as well as the carrying amounts of allocated goodwill and intangible assets:
  20252024
Three months ended and at June 30,InsuranceReinsuranceTotalInsuranceReinsuranceTotal
Gross premiums written$1,932,435$583,536$2,515,971$1,814,066$626,170$2,440,236
Net premiums written1,290,510344,9241,635,4341,194,197379,5471,573,744
Net premiums earned1,032,961360,4701,393,431958,212346,2661,304,478
Other insurance related income (loss)68,6568,662(61)8,5878,526
Current accident year net losses and loss expenses
(576,986)(244,997)(821,983)(542,591)(223,397)(765,988)
Net favorable prior year reserve development15,2165,01320,229———
Acquisition costs(194,912)(80,985)(275,897)(188,026)(77,065)(265,091)
Underwriting-related general and administrative expenses(124,646)(10,595)(135,241)(111,894)(8,874)(120,768)
Underwriting income$151,639$37,562189,201$115,640$45,517161,157
Net investment income187,297190,975
Net investment gains (losses)43,468(53,479)
Corporate expenses(25,837)(27,673)
Foreign exchange (losses) gains(94,885)7,384
Interest expense and financing costs(16,586)(17,010)
Reorganization expenses—(14,014)
Amortization of intangible assets(2,396)(2,729)
Income before income taxes and interest in income (loss) of equity method investments
280,262244,611
Income tax (expense) benefit(56,199)(40,547)
Interest in income (loss) of equity method investments(705)7,900
Net income223,358211,964
Preferred share dividends7,5637,563
Net income available to common shareholders$215,795$204,401
Current accident year loss ratio55.9 %68.0 %59.0 %56.6 %64.5 %58.7 %
Prior year reserve development ratio(1.5 %)(1.4 %)(1.5 %)— %— %— %
Net losses and loss expenses ratio54.4 %66.6 %57.5 %56.6 %64.5 %58.7 %
Acquisition cost ratio18.9 %22.5 %19.8 %19.6 %22.3 %20.3 %
General and administrative expense ratio12.0 %2.9 %11.6 %11.7 %2.5 %11.4 %
Combined ratio85.3 %92.0 %88.9 %87.9 %89.3 %90.4 %
Goodwill and intangible assets$237,340$—$237,340$282,227$—$282,227
20252024
Six months ended and at June 30,InsuranceReinsuranceTotalInsuranceReinsuranceTotal
Gross premiums written$3,588,337$1,722,285$5,310,622$3,388,571$1,706,092$5,094,663
Net premiums written2,335,0901,050,3833,385,4732,216,5511,079,2663,295,817
Net premiums earned2,043,047691,2042,734,2511,876,159686,3602,562,519
Other insurance related income (loss)
16212,07812,240(39)16,90616,867
Current accident year net losses and loss expenses(1,153,052)(472,793)(1,625,845)(1,039,455)(455,204)(1,494,659)
Net favorable prior year reserve development29,1948,97238,166———
Acquisition costs(388,933)(151,544)(540,477)(364,055)(155,290)(519,345)
Underwriting-related general and administrative expenses(244,238)(21,441)(265,679)(233,981)(24,580)(258,561)
Underwriting income$286,180$66,476352,656$238,629$68,192306,821
Net investment income395,009358,358
Net investment gains (losses)13,462(62,687)
Corporate expenses(54,562)(53,252)
Foreign exchange (losses) gains
(151,920)30,936
Interest expense and financing costs(33,158)(34,157)
Reorganization expenses—(26,312)
Amortization of intangible assets(5,125)(5,458)
Income before income taxes and interest in income of equity method investments
516,362514,249
Income tax (expense) benefit(100,521)84,107
Interest in income of equity method investments
1,5869,069
Net income417,427607,425
Preferred share dividends15,12515,125
Net income available to common shareholders$402,302$592,300
Current accident year loss ratio56.4 %68.4 %59.5 %55.4 %66.3 %58.3 %
Prior year reserve development ratio(1.4)%(1.3)%(1.4)%— %— %— %
Net losses and loss expenses ratio55.0 %67.1 %58.1 %55.4 %66.3 %58.3 %
Acquisition cost ratio19.0 %21.9 %19.8 %19.4 %22.6 %20.3 %
General and administrative expense ratio12.0 %3.1 %11.6 %12.5 %3.6 %12.2 %
Combined ratio86.0 %92.1 %89.5 %87.3 %92.5 %90.8 %
Goodwill and intangible assets$237,340$—$237,340$282,227$—$282,227