Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 38

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 38
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63,565 (38,408)25,157 Large brokers (2)46,641 (22,545)24,096 SME brokers (2)14,126 (8,533)5,593 $515,388 $(339,421)$175,967 n/a – not applicable(1)    On April 1, 2015, the Company completed its acquisition of Ternian Insurance Group LLC and recognized the definite life intangible assets detailed above.(2)    On October 2, 2017, the Company acquired Novae and recognized finite lived intangible assets, including VOBA, distribution networks, and indefinite lived intangible assets related to Lloyd's syndicate capacity, all detailed above.VOBA and intangible assetsAt December 31, 2023Gross 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 (11,661)1,669 VOBA(2)256,942 (256,942)— Coverholders (2)63,565 (33,110)30,455 Large brokers (2)46,641 (19,435)27,206 SME brokers (2)14,126 (7,357)6,769 $515,388 $(328,505)$186,883 n/a – not applicable(1)     On April 1, 2015, the Company completed its acquisition of Ternian Insurance Group LLC (renamed AXIS Group Benefits LLC in 2022) and recognized the definite life intangible assets detailed above.(2)    On October 2, 2017, the Company acquired Novae Group plc ("Novae") and recognized finite lived intangible assets, including VOBA, distribution networks, and indefinite lived intangible assets related to Lloyd's syndicate capacity, all detailed above.

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

The table below provides details of estimated amortization expense of intangible assets with a finite life:Total2025$9,921 202