Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 63

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 63
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 investments— 17,216 — — 17,216 Other assetsDerivative instruments (refer to Note 7)— 4,424 — — 4,424 Total Assets$3,279,434 $9,429,706 $228,342 $856,824 $13,794,306 LiabilitiesDerivative instruments (refer to Note 7)$— $10,165 $— $— $10,165 Total Liabilities$— $10,165 $— $— $10,165  

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AXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTSDECEMBER 31, 2024, 2023 AND 20226.    FAIR VALUE MEASUREMENTS (CONTINUED)

The following table quantifies the significant unobservable inputs used in estimating fair values at December 31, 2024 of investments classified as Level 3 in the fair value hierarchy: Asset fair valueValuation techniqueUnobservable inputAmount /RangeWeighted averageOther investments - Other privately     held investments$14,912 Discounted cash flowDiscount rate5.7%5.7%Default rate0.5%0.5%Loss absorption yield1.0%1.0%Estimated maturity date0 - 1 year1 yearNote: Fixed maturities of $147 million that are classified as Level 3 are excluded from the above table as these securities are priced using broker-dealer quotes. In addition, other privately held investments of $77 million that are classified as Level 3 are excluded from the above table as these investments are priced using capital statements received from investee companies.Other Investments - Other Privately Held SecuritiesOther privately held securities are initially valued at cost which approximates fair value. In subsequent measurement periods, the fair value of the variable yield security was determined using an externally developed discounted cash flow model. This model includes inputs that are specific to that investment. The inputs used in the fair value measurement include an appropriate discount rate, default rate, loss absorption rate and estimated maturity date. The selection of an appropriate discount rate is judgmental and is the most significant unobservable input used in the valuation of this investment. A significant increase (decrease) in this input in isolation could result in significantly lower (higher) fair value measurement for this investment. In order to assess the reasonableness of the inputs the Company uses in the