Company: AXS-PE
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001214816-25-000088
Chunk: 99

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 99
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 net of deferred tax liabilities related to a future Bermuda corporate income tax rate of 15%, pursuant to the Corporate Income Tax Act 2023.

(2) Tax expense (benefit) associated with the adjustments to net income (loss) available (attributable) to common shareholders. Tax impact is estimated by applying the statutory rates of applicable jurisdictions.

(3) Net adverse prior year reserve development of $425 million, pre-tax ($361 million, post-tax) for the year ended December 31, 2023.

(4) Adjusted operating income (loss) and adjusted operating return on average common equity ("Adjusted OROACE") are a non-GAAP financial measures as defined in Item 10(e) of SEC Regulation S-K. The reconciliations to the most comparable GAAP financial measures, net income (loss) available (attributable) to common shareholders and ROACE, respectively, are presented in the table above and a discussion of the rationale for the presentation of these items is provided later in this report.

| AXIS 2025 Proxy Statement |     | A-2 |

| Appendix 1 - Non-GAAP Reconciliation |

| AXIS CAPITAL HOLDINGS LIMITED                                                  
 CONSOLIDATED SEGMENTAL DATA                                                    
 FOR THE YEAR ENDED DECEMBER 31, 2024                                           |     | 2024          |            |   |     |             |           |   |     |       |            |   |
|:-------------------------------------------------------------------------------|:----|:--------------|-----------:|:--|:----|:------------|----------:|:--|:----|:------|-----------:|:--|
|                                                                                |     | Insurance     |            |   |     | Reinsurance |           |   |     | Total |            |   |
|                                                                                |     | -in thousands |            |   |     |             |           |   |     |       |            |   |
| Gross premiums written                                                         |     | $             |  6,615,584 |   |     | $           | 2,390,304 |   |     | $     |  9,005,888 |   |
| Net premiums written                                                           |     |               |  4,250,545 |   |     |             | 1,506,806 |   |     |       |  5,757,351 |   |
| Net premiums earned                                                            |     |               |  3,926,036 |   |     |             |