Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 63

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 63
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 expense and financing costs(16,586)(2%)(17,010)(33,158)(3%)(34,157)Reorganization expenses— nm(14,014)— nm(26,312)Amortization of intangible assets(2,396)(12%)(2,729)(5,125)(6%)(5,458)Income before income taxes and interest in income of equity method investments280,262 244,611 516,362 514,249 Income tax (expense) benefit(56,199)39%(40,547)(100,521)nm84,107 Interest in income of equity method investments(705)nm7,900 1,586 (83%)9,069 Net income223,358 211,964 417,427 607,425 Preferred share dividends(7,563)—%(7,563)(15,125)—%(15,125)Net income available to common shareholders$215,795 $204,401 $402,302 $592,300 

nm – not meaningful is defined as a variance greater than +/-100%

(1)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, also included corporate expenses of $26 million and $28 million for the three months ended June 30, 2025 and 2024, respectively, and $55 million and $53 million for the six months ended June 30, 2025 and 2024, respectively. Refer to 'Management’s Discussion and Analysis of Financial Condition and Results of Operations – Other Expenses (Revenues), Net' for further details on corporate expenses. Refer also to 'Management’s Discussion and Analysis of Financial Condition and Results of Operations – Non-GAAP Financial Measures Reconciliation' for further details.

(2)Consolidated underwriting income (loss) is a non-GAAP financial measure as defined in Item 10(e) of SEC Regulation S-K. The reconciliation to net income (loss), the most comparable GAAP financial measure, is presented in the table above. Refer also to 'Management’s Discussion and Analysis of Financial Condition and Results of Operations – Non-GAAP Financial Measures Reconciliation' for further details.

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Underwriting Revenues

Underwriting revenues by segment were as follows:  Three months ended June 30,Six