Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 101

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 101
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 results of operations, financial condition or liquidity.

We believe the material items requiring such subjective and complex estimates are:

•reserves for losses and loss expenses;

•reinsurance recoverable on unpaid losses and loss expenses, including the allowance for expected credit losses;

•gross premiums written and net premiums earned;

•fair value measurements of financial assets and liabilities; and

•the allowance for expected credit losses associated with fixed maturities, available for sale.

We believe that the critical accounting estimates discussion in Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2024, continues to describe the significant estimates and judgments included in the preparation of the consolidated financial statements.

RECENT ACCOUNTING PRONOUNCEMENTS

At September 30, 2025, there were no recently issued accounting pronouncements that we have not yet adopted that we expect could have a material impact on our results of operations, financial condition or liquidity.

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ITEM 3.      QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Refer to Item 7A included in our Annual Report on Form 10-K for the year ended December 31, 2024. There have been no material changes to this item since December 31, 2024, with the exception of the changes in exposure to foreign currency risk presented below. 

Foreign Currency Risk

The table below provides a sensitivity analysis of total net foreign currency exposures:

AUDCADEURGBPJPYOtherTotalAt September 30, 2025Net managed assets (liabilities), excluding derivatives$115,702 $403,362 $(3,051)$66,728 $(13,859)$165,090 $733,972 Foreign currency derivatives, net(89,627)(416,966)(588)(149,125)1,015 (137,026)(792,317)Net managed foreign currency exposure26,075 (13,604)(3,639)(82,397)(12,844)28,064 (58,345)Other net foreign currency exposure— 222 23 122 — 1 368 Total net foreign currency exposure$26,075 $(13,382)$(3,616)$(82,275)$(12,844)$28,065 $(57,977)Net foreign currency exposure as a percentage of total shareholders’ equity0.4%(0.2%)(0.1%)(1.3