Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 9

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 9
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 HOLDINGS LIMITED

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024 Six months ended20252024 (in thousands)Cash flows from operating activities:Net income$417,427 $607,425 Adjustments to reconcile net income to net cash provided by operating activities:Net investment (gains) losses (1) (12,370)62,687 Net realized and unrealized gains on other investments(39,951)(18,869)Amortization of fixed maturities(20,058)(18,390)Interest in income of equity method investments(1,586)(9,069)Other amortization and depreciation27,271 27,893 Share-based compensation expense23,089 23,275 Changes in:Accrued interest receivable5,641 (12,294)Reinsurance recoverable on unpaid losses and loss expenses(2,247,316)(278,507)Reinsurance recoverable on paid losses and loss expenses(124,418)80,018 Deferred acquisition costs(130,457)(143,481)Prepaid reinsurance premiums(286,888)(197,903)Reserve for losses and loss expenses645,415 326,820 Unearned premiums942,072 936,026 Insurance and reinsurance balances, net(517,574)(272,528)Other items(25,436)(210,864)Net cash provided by (used in) operating activities(1,345,139)902,239 Cash flows from investing activities:Purchases of:Fixed maturities, available for sale(4,836,342)(4,534,094)Fixed maturities, held to maturity(43,923)(77,033)Equity securities(81,146)(78,131)Mortgage loans(10,225)(2,385)Other investments(41,377)(38,059)Equity method investments(7,340)(10,002)Short-term investments(234,067)(104,190)Proceeds from the sale of:Fixed maturities, available for sale4,200,006 3,341,151 Equity securities101,326 97,430 Other investments72,684 69,701 Short-term investments290,531 24,488 Proceeds from redemption of fixed maturities, available