Company: AXS-PE
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001214816-25-000115
Chunk: 9

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 9
---
,073Net premiums earned1,010,086330,7341,340,820917,946340,0951,258,041Other insurance related income1563,4223,578218,3198,340Current accident year net losses and loss expenses(576,066)(227,796)(803,862)(496,864)(231,807)(728,671)Net favorable prior year reserve development13,9783,95917,937———Acquisition costs(194,021)(70,560)(264,581)(176,029)(78,225)(254,254)Underwriting-related general and administrative expenses(119,592)(10,846)(130,438)(122,087)(15,706)(137,793)Underwriting income$134,541$28,913163,454$122,987$22,676145,663Net investment income207,713167,383Net investment gains (losses)(30,005)(9,207)Corporate expenses(28,725)(25,580)Foreign exchange (losses) gains(57,034)23,552Interest expense and financing costs(16,572)(17,147)Reorganization expenses—(12,299)Amortization of intangible assets(2,729)(2,729)Income before income taxes and interest in income of equity method investments236,102269,636Income tax (expense) benefit(44,322)124,654Interest in income of equity method investments2,2911,169Net income194,071395,459Preferred share dividends7,5637,563Net income available to common shareholders$186,508$387,896Current accident year loss ratio57.0 %68.9 %60.0 %54.1 %68.2 %57.9 %Prior year reserve development ratio(1.4 %)(1.2 %)(1.4 %)— %— %— %Net losses and loss expenses ratio55.6 %67.7 %58.6 %54.1 %68.2 %57.9 %Acquisition cost ratio19.2 %21.3 %19.7 %19.2 %23.0 %20.2 %General and administrative expense ratio11.9 %3.3 %11.9 %13.3 %4.6