Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 33

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 33
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(10,917)Income before income taxes and interest in income of equity method investments1,008,238 Income tax benefit55,595 Interest in income of equity method investments17,953 Net income1,081,786 Preferred share dividends30,250 Net income available to common shareholders$1,051,536 Current accident year loss ratio57.6 %66.7 %60.0 %Prior year reserve development ratio(0.4 %)(0.5 %)(0.5 %)Net losses and loss expenses ratio57.2 %66.2 %59.5 %Acquisition cost ratio19.5 %22.0 %20.2 %General and administrative expense ratio 12.4 %3.6 %12.6 %Combined ratio89.1 %91.8 %92.3 %Goodwill and intangible assets$242,465 $— $242,465 

134

AXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTSDECEMBER 31, 2024, 2023, AND 20223.    SEGMENT INFORMATION (CONTINUED)

At and year ended December 31, 2023InsuranceReinsuranceTotalGross premiums written$6,140,764 $2,215,761 $8,356,525 Net premiums written3,758,720 1,343,605 5,102,325 Net premiums earned3,461,700 1,622,081 5,083,781 Other insurance related income (loss)(198)22,693 22,495 Current accident year net losses and loss expenses(1,903,648)(1,077,572)(2,981,220)Net favorable (adverse) prior year reserve development(176,353)(235,529)(411,882)Acquisition costs(648,463)(352,482)(1,000,945)Underwriting-related general and administrative expenses(472,094)(79,373)(551,467)Underwriting income (loss)$260,944 $(100,182)160,762 Net investment income611,742 Net investment gains (losses)(74,630)Corporate expenses(132,979)Foreign exchange (losses) gains(58,115)Interest expense and financing costs(68,421)Re