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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
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. 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, and accident and health.

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, and accident and health.
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:
  20222021
Three months ended and at March 31,InsuranceReinsuranceTotalInsuranceReinsuranceTotal
Gross premiums written$1,327,264$1,307,344$2,634,608$1,103,198$1,432,283$2,535,481
Net premiums written843,912968,9601,812,872707,8141,071,0721,778,886
Net premiums earned752,816505,4301,258,246616,286487,4361,103,722
Other insurance related income826,6116,6934152,3662,781
Net losses and loss expenses(405,745)(326,954)(732,699)(356,898)(357,820)(714,718)
Acquisition costs(138,812)(109,540)(248,352)(117,679)(101,192)(218,871)
Underwriting-related general and administrative expenses(113,950)(31,146)(145,096)(103,303)(29,365)(132,668)
Underwriting income$94,391$44,401138,792$38,821$1,42540,246
Net investment income91,355114,165
Net investment gains (losses)(94,508)29,645
Corporate expenses(23,945)(25,740)
Foreign exchange (losses) gains44,273(4,113)
Interest expense and financing costs(15,564)(15,571)
Amortization of value of business acquired—(1,028)
Amortization of intangible assets(2,729)(2,690)
Income before income taxes and interest in income of equity method investments137,674134,914
Income tax expense(24)(20,776)
Interest in income of equity method investments11,5509,162
Net income149,200123,300
Preferred share dividends7,5637,563
Net income available to common shareholders$141,637$115,737
Net losses and loss expenses ratio53.9 %64.7 %58.2 %57.9 %73.4 %64.8 %
Acquisition cost ratio18.4 %21.7 %19.7 %19.1 %20.8 %19.8 %
General and administrative expense ratio15.2 %6.1 %13.5 %16.8 %6.0 %14.3 %
Combined ratio87.5 %92.5 %91.4 %93.8 %100.2 %98.9 %
Goodwill and intangible assets$306,789$—$306,789$317,705$—$317,705