XML 39 R29.htm IDEA: XBRL DOCUMENT
v3.22.2.2

RESERVE FOR LOSSES AND LOSS EXPENSES (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Insurance [Abstract] |
RECONCILIATION OF BEGINNING AND ENDING GROSS RESERVE FOR LOSSES AND LOSS EXPENSES AND NET RESERVE FOR UNPAID LOSSES AND LOSS EXPENSES | The following table presents a reconciliation of the Company's beginning and ending gross reserve for losses and loss expenses and net reserve for unpaid losses and loss expenses:
|  | Nine months ended September 30, |  |
|  | 2022 |  | 2021 |  |
| Gross reserve for losses and loss expenses, beginning of period | $ | 14,653,094 |  |  | $ | 13,926,766 |  |  |
| Less reinsurance recoverable on unpaid losses and loss expenses, beginning of period | (5,017,611) |  |  | (4,496,641) |  |  |
| Net reserve for unpaid losses and loss expenses, beginning of period | 9,635,483 |  |  | 9,430,125 |  |  |
| Net incurred losses and loss expenses related to: |  |  |  |  |
| Current year | 2,461,828 |  |  | 2,315,697 |  |  |
| Prior years | (17,632) |  |  | (23,138) |  |  |
|  | 2,444,196 |  |  | 2,292,559 |  |  |
| Net paid losses and loss expenses related to: |  |  |  |  |
| Current year | (269,466) |  |  | (263,969) |  |  |
| Prior years | (1,900,366) |  |  | (1,778,479) |  |  |
|  | (2,169,832) |  |  | (2,042,448) |  |  |
| Foreign exchange and other | (501,914) |  |  | (10,885) |  |  |
| Net reserve for unpaid losses and loss expenses, end of period | 9,407,933 |  |  | 9,669,351 |  |  |
| Reinsurance recoverable on unpaid losses and loss expenses, end of period | 5,244,263 |  |  | 4,989,645 |  |  |
| Gross reserve for losses and loss expenses, end of period | $ | 14,652,196 |  |  | $ | 14,658,996 |  |  |
NET PRIOR YEAR RESERVE DEVELOPMENT BY SEGMENT | The Company's net favorable prior year reserve development arises from changes to estimates of losses and loss expenses related to loss events that occurred in previous calendar years. The following table presents net prior year reserve development by segment:
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2022 |  | 2021 |  |  | 2022 |  | 2021 |
|  | Favorable (Adverse) |  | Favorable (Adverse) |  |  | Favorable (Adverse) |  | Favorable (Adverse) |
| Insurance | $ | 2,558 |  |  | $ | 5,418 |  |  |  | $ | 12,396 |  |  | $ | 13,351 |  |
| Reinsurance | 2,177 |  |  | 5,594 |  |  |  | 5,236 |  |  | 9,787 |  |
| Total | $ | 4,735 |  |  | $ | 11,012 |  |  |  | $ | 17,632 |  |  | $ | 23,138 |  |
SCHEDULE OF THE LINE OF BUSINESS CATEGORIES AND THE EXPECTED CLAIM TAILS | The following table maps lines of business to reserve classes and the expected claim tails:
| Insurance segment |  |  |  |  |  |
|  | Reserve class and tail |
|  | Property and other | Marine | Aviation | Credit and political risk | Professional lines | Liability |
|  | Short | Short | Short/Medium | Medium | Medium | Long |
| Reported lines of business |  |  |  |  |  |  |
| Property | X |  |  |  |  |  |
| Marine |  | X |  |  |  |  |
| Terrorism | X |  |  |  |  |  |
| Aviation |  |  | X |  |  |  |
| Credit and political risk |  |  |  | X |  |  |
| Professional lines |  |  |  |  | X |  |
| Liability |  |  |  |  |  | X |
| Accident and health | X |  |  |  |  |  |
The following table maps lines of business to reserve classes and the expected claim tails:
| Reinsurance segment |  |  |  |  |
|  | Reserve class and tail |
|  | Property and other | Credit and surety | Professional lines | Motor | Liability |
|  | Short | Medium | Medium | Long | Long |
| Reported lines of business |  |  |  |  |  |
| Catastrophe | X |  |  |  |  |
| Property | X |  |  |  |  |
| Credit and surety |  | X |  |  |  |
| Professional lines |  |  | X |  |  |
| Motor |  |  |  | X |  |
| Liability |  |  |  |  | X |
| Engineering | X |  |  |  |  |
| Agriculture | X |  |  |  |  |
| Marine and aviation | X |  |  |  |  |
| Accident and health | X |  |  |  |  |
NET INCURRED AND PAID CLAIMS DEVELOPMENT TABLES BY ACCIDENT YEAR | Prior year reserve development by reserve class was as follows:
|  | Three months ended September 30, |  | Nine months ended September 30, |  |  |  |
|  | 2022 |  | 2021 |  | 2022 |  | 2021 |  |  |  |  |  |
|  | Favorable (Adverse) |  | Favorable (Adverse) |  | Favorable (Adverse) |  | Favorable (Adverse) |  |  |  |  |  |
| Property and other | $ | 5,211 |  |  | $ | 12,486 |  |  | $ | 18,290 |  |  | $ | 63,167 |  |  |  |  |  |  |
| Marine | 17,346 |  |  | 4,189 |  |  | 30,239 |  |  | 23,411 |  |  |  |  |  |  |
| Aviation | 3,203 |  |  | 3,958 |  |  | 7,888 |  |  | 9,802 |  |  |  |  |  |  |
| Credit and political risk | 8,106 |  |  | 7,610 |  |  | 13,288 |  |  | 6,294 |  |  |  |  |  |  |
| Professional lines | (2,747) |  |  | (20,759) |  |  | (3,937) |  |  | (68,405) |  |  |  |  |  |  |
| Liability | (28,561) |  |  | (2,066) |  |  | (53,372) |  |  | (20,918) |  |  |  |  |  |  |
| Total | $ | 2,558 |  |  | $ | 5,418 |  |  | $ | 12,396 |  |  | $ | 13,351 |  |  |  |  |  |  |
Prior year reserve development by reserve class was as follows:
|  | Three months ended September 30, |  | Nine months ended September 30, |  |  |  |
|  | 2022 |  | 2021 |  | 2022 |  | 2021 |  |  |  |  |  |
|  | Favorable (Adverse) |  | Favorable (Adverse) |  | Favorable (Adverse) |  | Favorable (Adverse) |  |  |  |  |  |
| Property and other | $ | 12,794 |  |  | $ | (5,486) |  |  | $ | 44,127 |  |  | $ | 7,792 |  |  |  |  |  |  |
| Credit and surety | 5,905 |  |  | 8,623 |  |  | 16,952 |  |  | (1,231) |  |  |  |  |  |  |
| Professional lines | (11,431) |  |  | (3,244) |  |  | (41,954) |  |  | (14,048) |  |  |  |  |  |  |
| Motor | 6,849 |  |  | 8,345 |  |  | 8,979 |  |  | 38,431 |  |  |  |  |  |  |
| Liability | (11,940) |  |  | (2,645) |  |  | (22,868) |  |  | $ | (21,157) |  |  |  |  |  |  |
| Total | $ | 2,177 |  |  | $ | 5,594 |  |  | $ | 5,236 |  |  | $ | 9,787 |  |  |  |  |  |  |

X
- Definition Schedule showing, by segment, the provision in the period for claims incurred in prior reporting periods and related claims settlement costs. + References No definition available. + Details
Name: | axs_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsPriorYearsBySegmentTableTableTextBlock
Namespace Prefix: | axs_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of The Lines of Business Categories and The Expected Claim Tails [Table Text Block] + References No definition available. + Details
Name: | axs_ScheduleOfTheLinesOfBusinessCategoriesAndTheExpectedClaimTailsTableTextBlock
Namespace Prefix: | axs_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InsuranceAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=116884095&loc=d3e14764-158437 + Details
Name: | us-gaap_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted information about claims development by accident year for short-duration insurance contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=116884468&loc=SL65671311-158438 + Details
Name: | us-gaap_ShortdurationInsuranceContractsClaimsDevelopmentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration