C
AXIS REINS CO
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Fair overall results on stability tests (4.2 on a scale of 0 to 10) including potential drain of affiliation with AXIS Specialty Ltd and weak results on operational trends. The largest net exposure for one risk is conservative at 1.3% of capital. History of adequate reserve strength (5.2) as reserves have been consistently at an acceptable level.
Other Rating Factors: Good overall profitability index (6.0) despite operating losses during 2022. Return on equity has been low, averaging 2.9% over the past five years. Good liquidity (6.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (7.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Stability Factors: A - Financial problems or weaknesses of a parent or affiliate company. R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Fire (0.7%), med mal (0.7%), other (98.6%)
Licensed in: All states, the District of Columbia and Puerto Rico
Principal Investments: Investment grade bonds (64.7%), non investment grade bonds (4.1%), cash (3.3%), common stock (1.8%), other (26.1%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
AXIS Specialty Ltd
Investment Rating
AXS
Company Address
1211 Avenue Of The Americas 24
NEW YORK, NY 10036
Phone Number
(414) 369-5033
NAIC Number
20370
Largest Affiliates
D
HARTFORD, CT - P&C
B
CHICAGO, IL - P&C
C
CHICAGO, IL - P&C
Weiss Ratings