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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2014
Segment Reporting [Abstract]  
SEGMENT INFORMATION [Text Block]
Our underwriting operations are organized around our global underwriting platforms, AXIS Insurance and AXIS Re. Therefore we have determined that we have two reportable segments, insurance and reinsurance. We do not allocate our assets by segment, with the exception of goodwill and intangible assets, as we evaluate the underwriting results of each segment separately from the results of our investment portfolio.

The following table summarizes the underwriting results of our reportable segments, as well as the carrying values of allocated goodwill and intangible assets:
 
  
2014
 
2013
 
 
Three months ended and at March 31,
Insurance
 
Reinsurance
 
Total
 
Insurance
 
Reinsurance
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross premiums written
$
601,721

 
$
1,219,678

 
$
1,821,399

 
$
596,715

 
$
1,149,768

 
$
1,746,483

 
 
Net premiums written
456,692

 
1,207,892

 
1,664,584

 
432,681

 
1,137,759

 
1,570,440

 
 
Net premiums earned
449,214

 
496,735

 
945,949

 
401,880

 
472,159

 
874,039

 
 
Other insurance related income
—

 
3,082

 
3,082

 
595

 
—

 
595

 
 
Net losses and loss expenses
(279,423
)
 
(264,784
)
 
(544,207
)
 
(217,336
)
 
(221,078
)
 
(438,414
)
 
 
Acquisition costs
(65,057
)
 
(106,979
)
 
(172,036
)
 
(57,261
)
 
(88,230
)
 
(145,491
)
 
 
General and administrative expenses
(87,946
)
 
(36,076
)
 
(124,022
)
 
(86,889
)
 
(33,041
)
 
(119,930
)
 
 
Underwriting income
$
16,788

 
$
91,978

 
108,766

 
$
40,989

 
$
129,810

 
170,799

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate expenses
 
 
 
 
(28,707
)
 
 
 
 
 
(21,545
)
 
 
Net investment income
 
 
 
 
82,744

 
 
 
 
 
108,908

 
 
Net realized investment gains
 
 
 
 
10,620

 
 
 
 
 
44,478

 
 
Foreign exchange (losses) gains
 
 
 
 
(4,233
)
 
 
 
 
 
34,882

 
 
Interest expense and financing costs
 
 
 
 
(16,594
)
 
 
 
 
 
(15,834
)
 
 
Income before income taxes
 
 
 
 
$
152,596

 
 
 
 
 
$
321,688

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss and loss expense ratio
62.2
%
 
53.3
%
 
57.5
%
 
54.1
%
 
46.8
%
 
50.2
%
 
 
Acquisition cost ratio
14.5
%
 
21.5
%
 
18.2
%
 
14.2
%
 
18.7
%
 
16.6
%
 
 
General and administrative expense ratio
19.6
%
 
7.3
%
 
16.2
%
 
21.6
%
 
7.0
%
 
16.2
%
 
 
Combined ratio
96.3
%
 
82.1
%
 
91.9
%
 
89.9
%
 
72.5
%
 
83.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill and intangible assets
$
90,350

 
$
—

 
$
90,350

 
$
97,001

 
$
—

 
$
97,001