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SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION
12 Months Ended
Dec. 31, 2023
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]  
SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION
AXIS CAPITAL HOLDINGS LIMITED
SUPPLEMENTARY INSURANCE INFORMATION
 
 At and year ended December 31, 2023
(in thousands)Deferred
acquisition
costs
Reserve
for losses
and loss
expenses
Unearned
premiums
Net
premiums
earned
Net
investment income(1)
Net losses
and loss
expenses
Acquisition
costs
Other
operating expenses(2)
Net
premiums
written
Insurance$298,249 $9,507,409 $3,507,519 $3,461,700 $ $2,080,001 $648,463 $472,094 $3,758,720 
Reinsurance152,701 6,926,609 1,240,083 1,622,081  1,313,101 352,482 79,373 1,343,605 
Corporate    611,742   132,979  
Total$450,950 $16,434,018 $4,747,602 $5,083,781 $611,742 $3,393,102 $1,000,945 $684,446 $5,102,325 
 At and year ended December 31, 2022
(in thousands)Deferred
acquisition
costs
Reserve
for losses
and loss
expenses
Unearned
premiums
Net
premiums
earned
Net
investment income(1)
Net losses
and loss
expenses
Acquisition
costs
Other
operating expenses(2)
Net
premiums
written
Insurance$249,407 $8,381,593 $3,077,628 $3,134,155 $— $1,785,854 $577,838 $443,704 $3,377,906 
Reinsurance224,162 6,787,270 1,283,819 2,026,171 — 1,456,556 444,179 106,585 1,885,150 
Corporate— — — — 418,829 — — 130,054 — 
Total$473,569 $15,168,863 $4,361,447 $5,160,326 $418,829 $3,242,410 $1,022,017 $680,343 $5,263,056 
 At and year ended December 31, 2021
(in thousands)Deferred
acquisition
costs
Reserve
for losses
and loss
expenses
Unearned
premiums
Net
premiums
earned
Net
investment income(1)
Net losses
and loss
expenses
Acquisition
costs
Other
operating expenses(2)
Net
premiums
written
Insurance$212,681 $7,803,529 $2,716,240 $2,651,339 $— $1,514,998 $484,344 $429,282 $2,894,885 
Reinsurance252,912 6,849,565 1,374,436 2,058,511 — 1,493,785 437,490 107,552 2,031,739 
Corporate— — — — 454,301 — — 126,470 — 
Total$465,593 $14,653,094 $4,090,676 $4,709,850 $454,301 $3,008,783 $921,834 $663,304 $4,926,624 
(1)The Company evaluates underwriting results of its reportable segments separately from the performance of its investment portfolio. Therefore, the Company believes it is appropriate to exclude net investment income from its underwriting profitability measure.
(2)Amounts related to the Company's reportable segments reflect underwriting-related general and administrative expenses, which includes those general and administrative expenses that are incremental and/or directly attributable to the Company's underwriting operations. Underwriting-related general and administrative expenses is a non-GAAP financial measure as defined in Item 10(e) of SEC Regulation S-K. The reconciliation to general and administrative expenses, the most comparable GAAP financial measure, presented in the table above, also includes corporate expenses of $133 million, $130 million, and $126 million for the years ended December 31, 2023, 2022 and 2021, respectively. Corporate expenses include holding company costs necessary to support our worldwide insurance and reinsurance operations and costs associated with operating as a publicly-traded company. As these costs are not incremental and/or directly attributable to the Company's underwriting operations, these expenses are excluded from underwriting-related general and administrative expenses.