B
AXIS INS CO
Rating Date
April 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: History of adequate reserve strength (5.4 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Good liquidity (6.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors: Fair profitability index (3.8) with operating losses during 2017, 2020 and the first six months of 2022. Return on equity has been low, averaging 1.8% over the past five years. Fair overall results on stability tests (4.1). Strong long-term capitalization index (7.7) 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: Acc & health (8.5%), personal/comm auto (8.1%), comm multi (2.4%), fire (0.5%), product liab. (0.4%), homeowners (0.3%), fin guar/surety (0.1%), other (79.7%)
Licensed in: All states except PR
Principal Investments: Investment grade bonds (69.3%), common stock (12.1%), other (18.6%)
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
111 South Wacker Drive Suite 3
CHICAGO, IL 60606
Phone Number
(678) 746-9400
NAIC Number
37273
Largest Affiliates
C
NEW YORK, NY - P&C
D
HARTFORD, CT - P&C
C
CHICAGO, IL - P&C
Weiss Ratings