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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION
AXIS Capital'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. The Company does not allocate its assets by segment, with the exception of goodwill and intangible assets.

Insurance
The Company's insurance segment offers specialty insurance products to a variety of niche markets on a worldwide basis. The product lines in this segment are property, marine, terrorism, aviation, credit and political risk, professional lines, liability, accident and health, and discontinued lines - Novae.
 
Reinsurance
The Company's reinsurance segment provides treaty reinsurance to insurance companies on a worldwide basis. The product lines in this segment are catastrophe, property, credit and surety, professional lines, motor, liability, engineering, agriculture, marine and aviation, accident and health, and discontinued lines - Novae.
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:
  20212020
Three months ended and at March 31,InsuranceReinsuranceTotalInsuranceReinsuranceTotal
Gross premiums written$1,103,198$1,432,283$2,535,481$940,715$1,490,443$2,431,158
Net premiums written707,8141,071,0721,778,886581,6501,097,3941,679,044
Net premiums earned616,286487,4361,103,722562,064526,5611,088,625
Other insurance related income (loss)4152,3662,781647(9,354)(8,707)
Net losses and loss expenses(356,898)(357,820)(714,718)(471,812)(436,261)(908,073)
Acquisition costs(117,679)(101,192)(218,871)(112,751)(125,899)(238,650)
Underwriting-related general and administrative expenses(103,303)(29,365)(132,668)(100,778)(29,184)(129,962)
Underwriting income (loss)$38,821$1,42540,246$(122,630)$(74,137)(196,767)
Net investment income114,16593,101
Net investment gains (losses)29,645(62,877)
Corporate expenses(25,740)(27,098)
Foreign exchange (losses) gains(4,113)61,683
Interest expense and financing costs(15,571)(23,472)
Reorganization expenses—982
Amortization of value of business acquired(1,028)(1,799)
Amortization of intangible assets(2,690)(2,870)
Income (loss) before income taxes and interest in income (loss) of equity method investments$134,914$(159,117)
Net losses and loss expenses ratio57.9 %73.4 %64.8 %83.9 %82.9 %83.4 %
Acquisition cost ratio19.1 %20.8 %19.8 %20.1 %23.9 %21.9 %
General and administrative expense ratio16.8 %6.0 %14.3 %17.9 %5.5 %14.5 %
Combined ratio93.8 %100.2 %98.9 %121.9 %112.3 %119.8 %
Goodwill and intangible assets$317,705$—$317,705$329,824$—$329,824