Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 14

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 14
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935)Underwriting-related general and administrative expenses(131,326)(11,785)(143,111)(119,249)(12,333)(131,582)Underwriting income$153,300$35,012188,312$98,786$36,364135,150Net investment income184,903205,100Net investment gains30,90532,182Corporate expenses(28,526)(33,621)Foreign exchange (losses) gains13,492(92,204)Interest expense and financing costs(16,657)(16,849)Amortization of intangible assets(2,396)(2,729)Income before income taxes and interest in income of equity method investments370,033227,029Income tax (expense) benefit(70,252)(47,922)Interest in income of equity method investments2,0831,621Net income301,864180,728Preferred share dividends7,5637,563Net income available to common shareholders$294,301$173,165Current accident year loss ratio56.2 %68.2 %59.3 %59.3 %68.0 %61.5 %Prior year reserve development ratio(1.3%)(1.1%)(1.3%)(0.4%)(1.1%)(0.6%)Net losses and loss expenses ratio54.9 %67.1 %58.0 %58.9 %66.9 %60.9 %Acquisition cost ratio18.9 %21.9 %19.7 %19.9 %20.9 %20.1 %General and administrative expense ratio12.1 %3.2 %11.7 %11.6 %3.6 %12.1 %Combined ratio85.9 %92.2 %89.4 %90.4 %91.4 %93.1 %Goodwill and intangible assets$234,944$—$234,944$279,497$—$279,497

14

Table of ContentsAXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)2.    SEGMENT INFORMATION (CONTINUED)

20252024Nine months ended and at September 30,InsuranceReinsuranceTotalInsuranceReinsuranceTotalGross premiums written$5,280,