SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

SEGMENT INFORMATION [Text Block]

2.     SEGMENT INFORMATION

Our underwriting operations are organized around our global underwriting platforms, AXIS Insurance and AXIS Re. Therefore we have determined that we have two reportable segments, insurance and reinsurance. Except for goodwill and intangible assets, we do not allocate our assets by segment as we evaluate the underwriting results of each segment separately from the results of our investment portfolio.

The following table summarizes the underwriting results of our reportable segments, as well as the carrying values of goodwill and intangible assets.

	2012									2011
Three months ended and at June 30,	Insurance			Reinsurance			Total			Insurance			Reinsurance			Total
Gross premiums written	$	675,009		$	339,366		$	1,014,375		$	682,097		$	364,066		$	1,046,163
Net premiums written	465,238			336,337			801,575			495,049			355,090			850,139
Net premiums earned	386,580			464,023			850,603			359,875			480,139			840,014
Other insurance related income	299			—			299			126			—			126
Net losses and loss expenses	(225,900		)	(241,737		)	(467,637		)	(218,219		)	(346,740		)	(564,959		)
Acquisition costs	(58,654		)	(97,743		)	(156,397		)	(51,244		)	(96,661		)	(147,905		)
General and administrative expenses	(77,770		)	(29,359		)	(107,129		)	(70,229		)	(28,073		)	(98,302		)
Underwriting income	$	24,555		$	95,184		$	119,739		$	20,309		$	8,665		$	28,974
Corporate expenses							(54,202		)							(19,803		)
Net investment income							74,449									100,018
Net realized investment gains							30,405									37,477
Foreign exchange (losses) gains							36,162									(18,517		)
Interest expense and financing costs							(15,170		)							(15,445		)
Income before income taxes							$	191,383								$	112,704
Net loss and loss expense ratio	58.4		%	52.1		%	55.0		%	60.6		%	72.2		%	67.3		%
Acquisition cost ratio	15.2		%	21.1		%	18.4		%	14.3		%	20.1		%	17.6		%
General and administrative expense ratio	20.1		%	6.3		%	18.9		%	19.5		%	5.9		%	14.0		%
Combined ratio	93.7		%	79.5		%	92.3		%	94.4		%	98.2		%	98.9		%
Goodwill and intangible assets	$	98,203		$	—		$	98,203		$	103,404		$	—		$	103,404

	2012									2011
Six months ended and at June 30,	Insurance			Reinsurance			Total			Insurance			Reinsurance			Total
Gross premiums written	$	1,199,689		$	1,339,856		$	2,539,545		$	1,107,088		$	1,487,505		$	2,594,593
Net premiums written	843,853			1,324,909			2,168,762			784,365			1,466,554			2,250,919
Net premiums earned	776,837			920,131			1,696,968			687,523			940,692			1,628,215
Other insurance related income	931			—			931			889			—			889
Net losses and loss expenses	(467,623		)	(510,705		)	(978,328		)	(484,852		)	(1,099,907		)	(1,584,759		)
Acquisition costs	(119,808		)	(204,985		)	(324,793		)	(93,322		)	(189,940		)	(283,262		)
General and administrative expenses	(155,214		)	(57,133		)	(212,347		)	(137,956		)	(55,459		)	(193,415		)
Underwriting income (loss)	$	35,123		$	147,308		182,431			$	(27,718	)	$	(404,614	)	(432,332		)
Corporate expenses							(72,637		)							(41,210		)
Net investment income							190,472									210,673
Net realized investment gains							44,896									67,621
Foreign exchange (losses) gains							15,715									(33,575		)
Interest expense and financing costs							(30,807		)							(31,305		)
Income (loss) before income taxes							$	330,070								$	(260,128	)
Net loss and loss expense ratio	60.2		%	55.5		%	57.7		%	70.5		%	116.9		%	97.3		%
Acquisition cost ratio	15.4		%	22.3		%	19.1		%	13.6		%	20.2		%	17.4		%
General and administrative expense ratio	20.0		%	6.2		%	16.8		%	20.1		%	5.9		%	14.4		%
Combined ratio	95.6		%	84.0		%	93.6		%	104.2		%	143.0		%	129.1		%
Goodwill and intangible assets	$	98,203		$	—		$	98,203		$	103,404		$	—		$	103,404