XML 38 R32.htm IDEA: XBRL DOCUMENT
v2.4.0.8

SEGMENT INFORMATION (DETAILS) (USD $) In Thousands, unless otherwise specified | 3 Months Ended | 6 Months Ended |
--- | --- | --- | ---
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 reportable_segment | Jun. 30, 2013 | Dec. 31, 2013
Segment Information [Line Items] |  |  |  |  |
Number of reportable segments |  |  | 2 |  |
Net premiums earned | $ 1,000,400 | $ 945,873 | $ 1,946,349 | $ 1,819,911 |
Other insurance related income | 1,683 | 435 | 4,766 | 1,030 |
Net losses and loss expenses | (565,829) | (642,899) | (1,110,036) | (1,081,313) |
Acquisition costs | (191,862) | (169,719) | (363,899) | (315,209) |
General and administrative expenses | (151,081) | (149,034) | (303,810) | (290,508) |
Net investment income | 114,867 | 83,112 | 197,610 | 192,019 |
Net realized investment gains | 33,261 | 16,235 | 43,882 | 60,713 |
Foreign exchange (losses) gains | (9,705) | 10,320 | (13,939) | 45,201 |
Interest expense and financing costs | (19,975) | (15,260) | (36,569) | (31,095) |
Income before income taxes | 211,759 | 79,063 | 364,354 | 400,749 |
Net loss and loss expense ratio | 56.60% | 68.00% | 57.00% | 59.40% |
Acquisition cost ratio | 19.20% | 17.90% | 18.70% | 17.30% |
General and administrative expense ratio | 15.00% | 15.80% | 15.60% | 16.00% |
Combined ratio | 90.80% | 101.70% | 91.30% | 92.70% |
Goodwill and intangible assets | 90,025 | 91,370 | 90,025 | 91,370 | 89,528
Operating Segments [Member] |  |  |  |  |
Segment Information [Line Items] |  |  |  |  |
Gross premiums written | 1,231,279 | 1,219,805 | 3,052,678 | 2,966,287 |
Net premiums written | 1,000,162 | 993,407 | 2,664,746 | 2,563,846 |
Net premiums earned | 1,000,400 | 945,873 | 1,946,349 | 1,819,911 |
Other insurance related income | 1,683 | 435 | 4,766 | 1,030 |
Net losses and loss expenses | (565,829) | (642,899) | (1,110,036) | (1,081,313) |
Acquisition costs | (191,862) | (169,719) | (363,899) | (315,209) |
General and administrative expenses | (117,811) | (123,769) | (241,834) | (243,698) |
Underwriting income (loss) | 126,581 | 9,921 | 235,346 | 180,721 |
Operating Segments [Member] | Insurance [Member] |  |  |  |  |
Segment Information [Line Items] |  |  |  |  |
Gross premiums written | 754,110 | 781,055 | 1,355,831 | 1,377,769 |
Net premiums written | 541,097 | 559,584 | 997,789 | 992,264 |
Net premiums earned | 457,670 | 422,345 | 906,884 | 824,224 |
Other insurance related income | 0 | 435 | 0 | 1,030 |
Net losses and loss expenses | (290,466) | (330,992) | (569,889) | (548,328) |
Acquisition costs | (71,039) | (58,749) | (136,096) | (116,009) |
General and administrative expenses | (83,512) | (88,526) | (171,459) | (175,415) |
Underwriting income (loss) | 12,653 | (55,487) | 29,440 | (14,498) |
Net loss and loss expense ratio | 63.50% | 78.40% | 62.80% | 66.50% |
Acquisition cost ratio | 15.50% | 13.90% | 15.00% | 14.10% |
General and administrative expense ratio | 18.20% | 20.90% | 19.00% | 21.30% |
Combined ratio | 97.20% | 113.20% | 96.80% | 101.90% |
Goodwill and intangible assets | 90,025 | 91,370 | 90,025 | 91,370 |
Operating Segments [Member] | Reinsurance [Member] |  |  |  |  |
Segment Information [Line Items] |  |  |  |  |
Gross premiums written | 477,169 | 438,750 | 1,696,847 | 1,588,518 |
Net premiums written | 459,065 | 433,823 | 1,666,957 | 1,571,582 |
Net premiums earned | 542,730 | 523,528 | 1,039,465 | 995,687 |
Other insurance related income | 1,683 | 0 | 4,766 | 0 |
Net losses and loss expenses | (275,363) | (311,907) | (540,147) | (532,985) |
Acquisition costs | (120,823) | (110,970) | (227,803) | (199,200) |
General and administrative expenses | (34,299) | (35,243) | (70,375) | (68,283) |
Underwriting income (loss) | 113,928 | 65,408 | 205,906 | 195,219 |
Net loss and loss expense ratio | 50.70% | 59.60% | 52.00% | 53.50% |
Acquisition cost ratio | 22.30% | 21.20% | 21.90% | 20.00% |
General and administrative expense ratio | 6.30% | 6.70% | 6.70% | 6.90% |
Combined ratio | 79.30% | 87.50% | 80.60% | 80.40% |
Goodwill and intangible assets | 0 | 0 | 0 | 0 |
Corporate, Non-Segment [Member] |  |  |  |  |
Segment Information [Line Items] |  |  |  |  |
General and administrative expenses | (33,270) | (25,265) | (61,976) | (46,810) |
Significant Reconciling Items [Member] |  |  |  |  |
Segment Information [Line Items] |  |  |  |  |
Net investment income | 114,867 | 83,112 | 197,610 | 192,019 |
Net realized investment gains | 33,261 | 16,235 | 43,882 | 60,713 |
Foreign exchange (losses) gains | (9,705) | 10,320 | (13,939) | 45,201 |
Interest expense and financing costs | $ (19,975) | $ (15,260) | $ (36,569) | $ (31,095) |

X
- Definition This item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Additionally, this item would include any losses recognized for other than temporary impairments (OTTI) of the subject investments in debt and equity securities, the change in fair value of investment-related derivatives not designated as hedges and any hedge ineffectiveness recognized in earnings in relation to investment portfolio-related fair value hedges. + References No definition available. + Details
Name: | axs_AvailableForSaleSecuritiesGrossRealizedGainLossNetIncludingDerivativesGainsLosses
Namespace Prefix: | axs_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The net gain or loss (both realized and unrealized) related to investments in certain entities that calculate net asset value per share and the amount after accretion (amortization) of discount (premium) of interest income and dividend income on nonoperating securities, net of investment expense. + References No definition available. + Details
Name: | axs_InvestmentIncomeNetForInvestmentsAndCashAndCashEquivalents
Namespace Prefix: | axs_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Net premiums earned less: net losses and loss expenses, acquisition costs and general and administrative expenses directly related to underwriting activities. + References No definition available. + Details
Name: | axs_UnderwritingIncomeLossNet
Namespace Prefix: | axs_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Ratio of non-life acquisition costs to non-life net premiums earned. + References No definition available. + Details
Name: | us-gaap_AcquisitionCostRatio
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Ratio of non-life losses and loss expenses, non-life acquisition expenses and non-life general and administrative expenses, to non-life net premiums earned. + References No definition available. + Details
Name: | us-gaap_CombinedRatio
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of expense related to deferred policy acquisition costs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 16 -Article 12 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.7(a)) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 7 -Article 7 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 18 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6967983&loc=d3e11264-158415 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 30 -Section 35 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=28247317&loc=d3e10157-158409 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section 45 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6480726&loc=d3e6691-158385 + Details
Name: | us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450189&loc=d3e30690-110894 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450222&loc=d3e30840-110895 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 20 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6450189&loc=d3e30700-110894 + Details
Name: | us-gaap_ForeignCurrencyTransactionGainLossBeforeTax
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Ratio of non-life general and administrative expenses to non-life net premiums earned. + References No definition available. + Details
Name: | us-gaap_GeneralAndAdministrativeExpenseRatio
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Carrying amount of finite-lived intangible assets, indefinite-lived intangible assets and goodwill. Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible assets are assets, not including financial assets, lacking physical substance. + References No definition available. + Details
Name: | us-gaap_IntangibleAssetsNetIncludingGoodwill
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of the cost of borrowed funds accounted for as interest expense. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.9) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 9 -Article 9 + Details
Name: | us-gaap_InterestExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Ratio of non-life losses and loss expenses to non-life net premiums earned. + References No definition available. + Details
Name: | us-gaap_LossRatio
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. + References No definition available. + Details
Name: | us-gaap_NumberOfReportableSegments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition The total amount of other operating income, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
Name: | us-gaap_OtherOperatingIncome
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.5) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 5 -Article 7 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6480758&loc=d3e6811-158387 + Details
Name: | us-gaap_PolicyholderBenefitsAndClaimsIncurredNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 17 -Article 12 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.12-17) -URI http://asc.fasb.org/extlink&oid=6588446&loc=d3e574992-122915 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.1) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 1 -Article 7 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6486672&loc=d3e27261-158547 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.13(c)) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882 + Details
Name: | us-gaap_PremiumsEarnedNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of direct and assumed premiums written. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6486672&loc=d3e27261-158547 + Details
Name: | us-gaap_PremiumsWrittenGross
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums written. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 17 -Article 12 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 1 -Subparagraph (b),(c) -URI http://asc.fasb.org/extlink&oid=6486672&loc=d3e27261-158547 + Details
Name: | us-gaap_PremiumsWrittenNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Details
Name: | us-gaap_SegmentReportingInformationLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.4) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 4 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section 30 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6386349&loc=d3e3636-108311 + Details
Name: | us-gaap_SellingGeneralAndAdministrativeExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration