Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 87

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 87
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5 and 2024, respectively, and foreign exchange (losses) gains of $144 million and $(30) million for the six months ended June 30, 2025 and 2024, respectively.

74

OTHER EXPENSES (REVENUES), NET

The following table provides a summary of other expenses (revenues), net:

  Three months ended June 30,Six months ended June 30,  2025% Change20242025% Change2024Corporate expenses$25,837 (7%)$27,673 $54,562 2%$53,252 Foreign exchange losses (gains)94,885 nm(7,384)151,920 nm(30,936)Interest expense and financing costs16,586 (2%)17,010 33,158 (3%)34,157 Income tax expense (benefit)56,199 39%40,547 100,521 nm(84,107)Total$193,507 $77,846 $340,161 $(27,634)

nm – not meaningful

Corporate Expenses

Corporate expenses include holding company costs necessary to support our worldwide insurance and reinsurance operations and costs associated with operating as a publicly-traded company. 

As a percentage of net premiums earned, corporate expenses decreased to 1.9% for the three months ended June 30, 2025, from corporate expenses of 2.1% for the three months ended June 30, 2024, mainly driven by a decrease in professional fees and an increase in net premiums earned.

As a percentage of net premiums earned, corporate expenses of 2.0% for the six months ended June 30, 2025, were comparable to corporate expenses of 2.1% for the six months ended June 30, 2024, mainly driven by an increase in information technology costs, largely offset by a decrease in fees related to arrangements with strategic capital partners.

Foreign Exchange Losses (Gains)

Foreign exchange losses of $95 million for the three months ended June 30, 2025 reflected the impact of the weakening of the U.S. dollar on the remeasurement of net insurance-related liabilities denominated in euro, pound sterling and Canadian dollar. 

Foreign exchange losses of $152 million for the six months ended June 30, 2025 reflected the impact of the weakening of the U.S. dollar on the remeasurement