Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 37

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 37
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100,801 120,785 77,016 298,602 Amortizationn/an/a(10,917)(10,917)Impairment charges— — — — At December 31, 2024Gross amount95,890 120,785 394,604 611,279 Accumulated amortizationn/an/a(328,505)(328,505)Accumulated translation adjustment4,911 — — 4,911 100,801 120,785 66,099 287,685 Amortizationn/an/a(10,917)(10,917)Impairment charges— — — — Tax-related adjustments(34,303)— — (34,303)$66,498 $120,785 $55,182 $242,465 n/a – not applicableIntangible Assets with an Indefinite LifeIntangible assets with an indefinite life include U.S. state licenses that provide a legal right to transact business indefinitely and the value of Lloyd's syndicate capacity, which represents the right to underwrite a certain allocated limit of premium in the Lloyd's market. Impairment ReviewFor the years ended December 31, 2024, 2023 and 2022, the Company's impairment review of goodwill did not result in the recognition of an impairment loss. Tax-related AdjustmentsDuring the year ended December 31, 2024, the Company assessed that certain deferred tax assets and deferred tax liabilities were no longer required and recognized a tax-related adjustment of $34 million. 

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AXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTSDECEMBER 31, 2024, 2023 AND 20224.    GOODWILL AND INTANGIBLE ASSETS (CONTINUED)

The tables below provide details of the gross amount and accumulated amortization by category of value of business acquired ("VOBA") and intangible assets:VOBA and intangible assetsAt December 31, 2024Gross amountAccumulated amortizationTotalU.S. state licenses$26,036 n/a$26,036 Syndicate capacity (2)94,748 n/a94,748 Customer relationships and customers lists (1)13,330 (12,993)337 VOBA(2)256,942 (256,942)— Coverholders (2)