Company: AXS-PE
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001214816-25-000115
Chunk: 3

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 3
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 Amortization of intangible assets2,729 2,729 Total expenses1,286,004 1,154,921 Income before income taxes and interest in income of equity method investments236,102 269,636 Income tax (expense) benefit(44,322)124,654 Interest in income of equity method investments2,291 1,169 Net income194,071 395,459 Preferred share dividends7,563 7,563 Net income available to common shareholders$186,508 $387,896 Per share dataEarnings per common share:Earnings per common share$2.30 $4.57 Earnings per diluted common share$2.26 $4.53 Weighted average common shares outstanding81,152 84,879 Weighted average diluted common shares outstanding82,378 85,693 

See accompanying notes to Consolidated Financial Statements.7

AXIS CAPITAL HOLDINGS LIMITED

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024 

  Three months ended March 31, 20252024 (in thousands)Net income$194,071 $395,459 Other comprehensive income (loss), net of tax:Available for sale investments:Unrealized gains (losses) arising during the period for which an allowance for expected credit losses has not been recognized87,058 (60,059)Unrealized gains (losses) arising during the period for which an allowance for expected credit losses has been recognized192 (418)Adjustment for reclassification of net realized (gains) losses and impairment losses recognized in net income28,087 23,415 Unrealized gains (losses) arising during the period, net of reclassification adjustment115,337 (37,062)Foreign currency translation adjustment(156)(8,951)Total other comprehensive income (loss), net of tax115,181 (46,013)Comprehensive income$309,252 $349,446 

See accompanying notes to Consolidated Financial Statements.8

AXIS CAPITAL HOLDINGS LIMITED

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024 

Three months ended March 31