Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 63

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 63
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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 and Results of Operations – Non-GAAP Financial Measures Reconciliation' for further details.

(2)Consolidated underwriting income (loss) is a non-GAAP financial measure as defined in Item 10(e) of SEC Regulation S-K. The reconciliation to net income (loss), the most comparable GAAP financial measure, is presented in the table above. Refer also to 'Management’s Discussion and Analysis of Financial Condition and Results of Operations – Non