Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 147

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 2
Chunk 147
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 increase in total value of $5.95, or 9.1%, was driven by net income for the period, and net unrealized investment gains recognized in accumulated other comprehensive income (loss), partially offset by common share repurchases.

During the three months ended June 30, 2024, the increase in total value of $2.60, or 4.6%, was driven by net income for the period. 

During the six months ended June 30, 2024, the increase in total value of $6.11, or 11.3%, was driven by net income for the period. 

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NON-GAAP FINANCIAL MEASURES RECONCILIATION

Three months ended June 30,Six months ended June 30,2025202420252024Net income available to common shareholders$215,795$204,401$402,302$592,300Net investment (gains) losses(43,468)53,479(13,462)62,687Foreign exchange losses (gains)94,885(7,384)151,920(30,936)Reorganization expenses—14,014—26,312Interest in (income) loss of equity method investments705(7,900)(1,586)(9,069)Amortization of Bermuda deferred tax asset (2025) Bermuda net deferred tax asset (2024)(1)3,384—3,384(162,705)Income tax benefit(2)(9,997)(6,621)(19,440)(8,435)Operating income$261,304$249,989$523,118$470,154Earnings per diluted common share$2.72$2.40$4.98$6.93Net investment (gains) losses(0.55)0.63(0.17)0.73Foreign exchange losses (gains)1.20(0.09)1.88(0.36)Reorganization expenses—0.16—0.31Interest in (income) loss of equity method investments0.01(0.09)(0.02)(0.11)Amortization of Bermuda deferred tax asset (2025) and Bermuda net deferred tax asset (2024)0.04—0.04(1.90)Income tax benefit(0.13)(0.08)(0.24)(0.10)Operating income per diluted common share$3.29