Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 43

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 43
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480,515)At December 31, 2024, 3,994 fixed maturities (2023: 3,535) were in an unrealized loss position of $311 million (2023: $481 million) of which $14 million (2023: $13 million) was related to securities below investment grade or not rated.At December 31, 2024, 2,108 fixed maturities (2023: 3,212) had been in a continuous unrealized loss position for twelve months or greater and had a fair value of $2,253 million (2023: $6,293 million). The unrealized losses of $311 million (2023: $481 million) were due to non-credit factors and were expected to be recovered as the related securities approach maturity. At December 31, 2024, the Company did not intend to sell the securities in an unrealized loss position and it is more likely than not that the Company will not be required to sell these securities before the anticipated recovery of their amortized costs.

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AXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTSDECEMBER 31, 2024, 2023 AND 20225.    INVESTMENTS (CONTINUED)

b)    Fixed Maturities, Held to MaturityThe following table provides the amortized cost and fair values of the Company's fixed maturities classified as held to maturity:AmortizedcostAllowance for expected credit lossesNet carrying valueGrossunrealizedgainsGrossunrealizedlossesFairvalueAt December 31, 2024Held to maturityCorporate debt$122,706 $— $122,706 $675 $(7,764)$115,617 ABS(1)320,694 — 320,694 560 (120)321,134 Total fixed maturities, held to maturity$443,400 $— $443,400 $1,235 $(7,884)$436,751 At December 31, 2023    Held to maturityCorporate debt$95,200 $— $95,200 $298 $(8,827)$86,671 ABS(1)591,096 — 591,096 5 (1,921)589,180 Total fixed maturities, held to maturity$686,