Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 221

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 16
Chunk 221
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 equally with all other senior obligations of AXIS Capital. (4)AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance LLC, a 100% owned finance subsidiary, related to the issuance of $425 million aggregate principal amount of 4.9% fixed-rate reset junior unsecured notes. AXIS Capital's obligation under this guarantee is an unsecured junior subordinated obligation and ranks equally with all future unsecured and junior subordinated obligations of AXIS Capital, and junior in right of payment to all outstanding and future senior obligations of AXIS Capital. 

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SCHEDULE IIAXIS CAPITAL HOLDINGS LIMITEDCONDENSED STATEMENTS OF OPERATIONS – PARENT COMPANYYEARS ENDED DECEMBER 31, 2024, 2023 AND 2022  202420232022(in thousands)RevenuesNet investment income $— $— $— Total revenues— — — ExpensesGeneral and administrative expenses52,599 52,334 60,252 Total expenses52,599 52,334 60,252 Income (loss) before equity in net income of subsidiaries(52,599)(52,334)(60,252)Equity in net income of subsidiaries1,134,385 428,626 283,335 Net income1,081,786 376,292 223,083 Preferred share dividends30,250 30,250 30,250 Net income available to common shareholders$1,051,536 $346,042 $192,833 Comprehensive income (loss)$1,180,065 $770,756 $(593,753)

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SCHEDULE IIAXIS CAPITAL HOLDINGS LIMITEDCONDENSED STATEMENTS OF CASH FLOWS – PARENT COMPANYYEARS ENDED DECEMBER 31, 2024, 2023 AND 2022  202420232022 (in thousands)Cash flows from operating activities:Net income$1,081,786 $376,292 $223,083 Adjustments to reconcile net income to net cash provided by operating activities:Equity in income loss of subsidiaries(1,134,385)(428,626)(283,335)Change in intercompany payable(19,247)(136,059)32,871 Dividends received from subsidiaries459,000 375,000 225,000 Other items(28,645)(34,626)(17,