XML 24 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues      
Net premiums earned $ 3,686,417 $ 3,870,999 $ 3,707,065
Net investment income 305,336 342,766 409,312
Other insurance related income (loss) (2,953) 650 4,424
Termination fee received 280,000 0 0
Net realized investment gains (losses)      
Other-than-temporary impairment (OTTI) losses (72,720) (31,227) (9,362)
Other realized investment gains (losses) (65,771) 163,335 84,926
Total net realized investment gains (losses) (138,491) 132,108 75,564
Total revenues 4,130,309 4,346,523 4,196,365
Expenses      
Net losses and loss expenses 2,176,199 2,186,722 2,134,195
Acquisition costs 718,112 737,197 664,191
General and administrative expenses 596,821 621,876 575,390
Foreign exchange losses (gains) (102,312) (104,439) 26,143
Interest expense and financing costs 50,963 74,695 61,979
Reorganization and related expenses 45,867 0 0
Total expenses 3,485,650 3,516,051 3,461,898
Income before income taxes 644,659 830,472 734,467
Income tax expense 3,028 25,908 7,002
Net income 641,631 804,564 727,465
Amounts attributable from noncontrolling interests 0 (6,181) 0
Net income attributable to AXIS Capital 641,631 810,745 727,465
Preferred share dividends 40,069 40,088 40,474
Loss on repurchase of preferred shares 0 0 3,081
Net income available to common shareholders $ 601,562 $ 770,657 $ 683,910
Net income per common share      
Basic net income (in dollars per share) $ 6.10 $ 7.38 $ 6.02
Diluted net income (in dollars per share) $ 6.04 $ 7.29 $ 5.93
Weighted average number of common shares outstanding - basic 98,609 104,368 113,636
Weighted average number of common shares outstanding - diluted 99,629 105,713 115,328