Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 116

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 116
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writing income (2)188,312 135,150 540,970 441,970 Net investment income184,903 (10%)205,100 579,911 3%563,458 Net investment gains (losses)30,905 (4%)32,182 44,365 nm(30,503)Corporate expenses(1)(28,526)(15%)(33,621)(83,088)(4%)(86,873)Foreign exchange (losses) gains13,492 nm(92,204)(138,428)nm(61,268)Interest expense and financing costs(16,657)(1%)(16,849)(49,816)(2%)(51,005)Reorganization expenses— nm— — nm(26,312)Amortization of intangible assets(2,396)(12%)(2,729)(7,521)(8%)(8,188)Income before income taxes and interest in income of equity method investments370,033 227,029 886,393 741,279 Income tax (expense) benefit(70,252)47%(47,922)(170,773)nm36,185 Interest in income of equity method investments2,083 29%1,621 3,669 (66%)10,689 Net income301,864 180,728 719,289 788,153 Preferred share dividends(7,563)—%(7,563)(22,688)—%(22,688)Net income available to common shareholders$294,301 $173,165 $696,601 $765,465 

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 $29 million and $34 million for the three months ended September 30, 2025 and 2024, respectively, and $83 million and $87 million for the nine months ended September 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