Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 5

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 5
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ITEM 8.    FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Index to Consolidated Financial Statements and Accompanying NotesPage  Report of Independent Registered Public Accounting Firm - PCAOB ID No. 5230.114Consolidated Balance Sheets at December 31, 2024 and 2023116Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022117Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2024, 2023 and 2022118Consolidated Statements of Changes in Shareholders' Equity for the years ended December 31, 2024, 2023 and 2022119Consolidated Statements of Cash Flows for the years ended December 31, 2024, 2023 and 2022120Notes to Consolidated Financial Statements122Note 1 – Organization122Note 2 – Basis of Presentation and Significant Accounting Policies123Note 3 – Segment Information133Note 4 – Goodwill and Intangible Assets138Note 5 – Investments141Note 6 – Fair Value Measurements154Note 7 – Derivative Instruments164Note 8 – Reserve for Losses and Loss Expenses166Note 9 – Reinsurance200Note 10 – Debt and Financing Arrangements202Note 11 – Federal Home Loan Bank Advances205Note 12 – Commitments and Contingencies206Note 13 – Leases209Note 14 – Earnings Per Common Share211Note 15 – Shareholders’ Equity211Note 16 – Retirement Plans213Note 17 – Share-Based Compensation214Note 18 – Related Party Transactions219Note 19 – Reorganization Expenses222Note 20 – Income Taxes223Note 21 – Other Comprehensive Income (Loss)229Note 22 – Statutory Financial Information230Note 23 – Subsequent Events233

113

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and the Board of Directors of AXIS Capital Holdings Limited

Opinion on the Financial Statements 

We have audited the accompanying consolidated balance sheets of AXIS Capital Holdings Limited and subsidiaries (the "Company") as of December 31, 2024 and 2023, the related consolidated statements of operations, comprehensive income, changes in shareholders' equity, and cash flows, for each of the three years in the period ended December 31, 2024, and the related notes and the schedules listed in the Index