Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 319

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 319
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insurance operations typically include premiums, net of acquisition costs, and reinsurance recoverables. Cash outflows principally include payments of losses and loss expenses, payments of premiums to reinsurers and operating expenses. Cash provided by operating activities can fluctuate due to timing differences between the collection of premiums and reinsurance recoverables and the payment of losses and loss expenses, and the payment of premiums to reinsurers. 

•Operating cash inflows increased in 2024 compared to 2023, primarily attributable to increases in premiums received, reinsurance recoverables received, and interest and dividends received from our investment portfolio together with a decrease in payments of premiums to reinsurers partially offset by an increase in payments of losses and loss expenses.

Investing activities

•Investing cash inflows in 2024 were principally related to the net proceeds from the sale and redemption of fixed maturities of $281 million, unsettled payable for reverse repurchase agreements included in cash and cash equivalents of $247 million, net proceeds from the sales of other investments of $66 million and equity securities of $40 million, and the net proceeds from the sales and repayment of mortgage loans of $81 million, partially offset by net purchases of short-term investments of $204 million and loan advances made to third party reinsurers of $199 million.

•Investing cash outflows in 2023 were principally related to the net purchases of fixed maturities of $554 million, equity securities of $34 million, equity method investments of $22 million, loan advances made to third party reinsurers of $350 million and purchases of other assets of $31 million, partially offset by the net proceeds from the sale of other investments of $67 million and net proceeds from the sales and redemptions/repayments of short-term investments of $56 million and mortgage loans of $12 million.

Financing activities

•Financing cash outflows in 2024 were principally due to the repurchase of common shares of $216 million, dividends paid to common and preferred shareholders of $182 million, and the repayment of the Federal Home Loan Bank advances of $19 million. 

•Financing cash outflows in 2023 were principally due to dividends paid to common and preferred shareholders of $184 million, and the repurchase of common shares of $24 million, partially offset by the receipt of the Federal Home Loan Bank advances of $5 million.

•The declaration and payment of future dividends and share repurchases is at the discretion of our Board of Directors and will depend on many