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SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 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 tables summarize 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 September 30,
Insurance
 
Reinsurance
 
Total
 
Insurance
 
Reinsurance
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross premiums written
$
555,283

 
$
341,531

 
$
896,814

 
$
574,778

 
$
330,019

 
$
904,797

 
 
Net premiums written
363,571

 
323,652

 
687,223

 
393,627

 
322,762

 
716,389

 
 
Net premiums earned
461,805

 
504,333

 
966,138

 
448,072

 
497,170

 
945,242

 
 
Other insurance related income
—

 
7,702

 
7,702

 
725

 
—

 
725

 
 
Net losses and loss expenses
(289,207
)
 
(262,857
)
 
(552,064
)
 
(216,440
)
 
(285,082
)
 
(501,522
)
 
 
Acquisition costs
(71,264
)
 
(114,686
)
 
(185,950
)
 
(61,087
)
 
(112,595
)
 
(173,682
)
 
 
General and administrative expenses
(85,750
)
 
(36,612
)
 
(122,362
)
 
(82,548
)
 
(35,127
)
 
(117,675
)
 
 
Underwriting income
$
15,584

 
$
97,880

 
113,464

 
$
88,722

 
$
64,366

 
153,088

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate expenses
 
 
 
 
(30,554
)
 
 
 
 
 
(23,024
)
 
 
Net investment income
 
 
 
 
66,562

 
 
 
 
 
103,429

 
 
Net realized investment gains (losses)
 
 
 
 
77,448

 
 
 
 
 
(4,708
)
 
 
Foreign exchange (losses) gains
 
 
 
 
72,292

 
 
 
 
 
(56,860
)
 
 
Interest expense and financing costs
 
 
 
 
(20,344
)
 
 
 
 
 
(15,260
)
 
 
Income before income taxes
 
 
 
 
$
278,868

 
 
 
 
 
$
156,665

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss and loss expense ratio
62.6
%
 
52.1
%
 
57.1
%
 
48.3
%
 
57.3
%
 
53.1
%
 
 
Acquisition cost ratio
15.4
%
 
22.7
%
 
19.2
%
 
13.6
%
 
22.6
%
 
18.4
%
 
 
General and administrative expense ratio
18.6
%
 
7.3
%
 
15.9
%
 
18.5
%
 
7.2
%
 
14.8
%
 
 
Combined ratio
96.6
%
 
82.1
%
 
92.2
%
 
80.4
%
 
87.1
%
 
86.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill and intangible assets
$
88,740

 
$
—

 
$
88,740

 
$
91,656

 
$
—

 
$
91,656

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

  
 
  
2014
 
2013
 
 
Nine months ended and at September 30,
Insurance
 
Reinsurance
 
Total
 
Insurance
 
Reinsurance
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross premiums written
$
1,911,102

 
$
2,038,377

 
$
3,949,479

 
$
1,952,548

 
$
1,918,537

 
$
3,871,085

 
 
Net premiums written
1,361,351

 
1,990,607

 
3,351,958

 
1,385,892

 
1,894,344

 
3,280,236

 
 
Net premiums earned
1,368,683

 
1,543,799

 
2,912,482

 
1,272,297

 
1,492,857

 
2,765,154

 
 
Other insurance related income
—

 
12,468

 
12,468

 
1,756

 
—

 
1,756

 
 
Net losses and loss expenses
(859,093
)
 
(803,004
)
 
(1,662,097
)
 
(764,768
)
 
(818,067
)
 
(1,582,835
)
 
 
Acquisition costs
(207,360
)
 
(342,488
)
 
(549,848
)
 
(177,097
)
 
(311,795
)
 
(488,892
)
 
 
General and administrative expenses
(257,208
)
 
(106,987
)
 
(364,195
)
 
(257,962
)
 
(103,411
)
 
(361,373
)
 
 
Underwriting income
$
45,022

 
$
303,788

 
348,810

 
$
74,226

 
$
259,584

 
333,810

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate expenses
 
 
 
 
(92,530
)
 
 
 
 
 
(69,834
)
 
 
Net investment income
 
 
 
 
264,171

 
 
 
 
 
295,450

 
 
Net realized investment gains
 
 
 
 
121,329

 
 
 
 
 
56,004

 
 
Foreign exchange (losses) gains
 
 
 
 
58,353

 
 
 
 
 
(11,659
)
 
 
Interest expense and financing costs
 
 
 
 
(56,913
)
 
 
 
 
 
(46,355
)
 
 
Income before income taxes
 
 
 
 
$
643,220

 
 
 
 
 
$
557,416

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss and loss expense ratio
62.8
%
 
52.0
%
 
57.1
%
 
60.1
%
 
54.8
%
 
57.2
%
 
 
Acquisition cost ratio
15.2
%
 
22.2
%
 
18.9
%
 
13.9
%
 
20.9
%
 
17.7
%
 
 
General and administrative expense ratio
18.7
%
 
6.9
%
 
15.6
%
 
20.3
%
 
6.9
%
 
15.6
%
 
 
Combined ratio
96.7
%
 
81.1
%
 
91.6
%
 
94.3
%
 
82.6
%
 
90.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill and intangible assets
$
88,740

 
$
—

 
$
88,740

 
$
91,656

 
$
—

 
$
91,656