Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 312

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 312
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Corporate debt securities consist primarily of investment grade debt of a wide variety of corporate issuers and industries. 

Details of our corporate debt securities portfolio by sector are as follows:

  December 31, 2024December 31, 2023  Fair value% of totalWeightedaveragecredit ratingFair value% of totalWeightedaveragecredit ratingFinancial institutions: U.S. banks$679,827 14 %A$760,807 17 %ACorporate/commercial finance558,577 11 %BBB465,953 10 %BBBNon-U.S. banks411,074 8 %A397,097 9 %AInsurance223,503 5 %A-150,553 3 %AInvestment brokerage132,237 3 %BBB104,881 2 %BBB+Total financial institutions2,005,218 41 %A-1,879,291 41 %A-Consumer non-cyclicals515,072 10 %BBB-518,596 11 %BBBConsumer cyclical506,912 10 %BB472,162 10 %BB+Communications336,192 7 %BB+359,590 8 %BBB-Industrials533,401 11 %BB451,066 10 %BBTechnology299,938 6 %BB+230,864 5 %BBB-Utilities253,756 5 %A-215,787 5 %BBB+Energy252,851 5 %BBB-204,682 4 %BBB-Other254,467 5 %A228,805 6 %A+Total$4,957,807 100 %BBB$4,560,843 100 %BBBCredit quality summary:Investment grade$3,477,840 70 %A-$3,537,795 78 %A-Non-investment grade1,479,967 30 %B+1,023,048 22 %B+Total$4,957,807 100 %BBB$4,560,843 100 %BBB

At December 31, 2024, our non-investment grade portfolio had a fair value of $1,480 million (2023: $1,023 million), a weighted average credit rating