Company: AXS-PE
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001214816-25-000115
Chunk: 5

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 5
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 AND 2024 Three months ended March 31,20252024 (in thousands)Cash flows from operating activities:Net income$194,071 $395,459 Adjustments to reconcile net income to net cash provided by operating activities:Net investment (gains) losses30,005 9,207 Net realized and unrealized gains on other investments(22,410)(4,973)Amortization of fixed maturities(10,621)(8,630)Interest in income of equity method investments(2,291)(1,169)Other amortization and depreciation13,792 14,257 Share-based compensation expense11,829 13,670 Changes in:Accrued interest receivable5,503 (1,411)Reinsurance recoverable on unpaid losses and loss expenses(106,132)(186,791)Reinsurance recoverable on paid losses and loss expenses1,064 98,362 Deferred acquisition costs(103,121)(94,737)Prepaid reinsurance premiums(240,695)(144,311)Reserve for losses and loss expenses278,614 209,390 Unearned premiums653,052 611,974 Insurance and reinsurance balances, net(326,816)(267,456)Other items(66,765)(258,702)Net cash provided by operating activities309,079 384,139 Cash flows from investing activities:Purchases of:Fixed maturities, available for sale(2,946,681)(2,450,714)Fixed maturities, held to maturity(9,950)(46,534)Equity securities(73,063)(76,270)Mortgage loans(72)(1,552)Other investments(20,729)(18,368)Equity method investments(4,955)(6,791)Short-term investments(196,153)(82,199)Proceeds from the sale of:Fixed maturities, available for sale2,872,156 2,367,906 Equity securities82,625 97,434 Other investments34,855 38,027 Short-term investments228,673 19,325 Proceeds from redemption of fixed maturities, available for sale369,666 435,700 Proceeds from redemption of fixed maturities, held to maturity63,780 39,791 Proceeds from redemption of short-term investments102,524 4,510