Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 99

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 99
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June 30, 2025December 31, 2024  Fair Value% of TotalFair Value% of TotalFixed maturities:U.S. government and agency$2,387,175 19 %$2,802,986 22 %Non-U.S. government790,476 6 %729,939 6 %Corporate debt4,935,866 39 %4,957,807 39 %Agency RMBS1,740,980 14 %1,184,845 9 %CMBS823,582 7 %819,608 7 %Non-agency RMBS186,151 1 %122,536 1 %ABS1,610,434 13 %1,860,966 15 %Municipals(1)63,601 1 %110,817 1 %Total$12,538,265 100 %$12,589,504 100 %Credit ratings:U.S. government and agency$2,387,175 19 %$2,802,986 22 %AAA(2)2,513,074 20 %2,665,334 21 %AA2,934,562 23 %2,354,372 19 %A2,142,844 17 %2,090,516 17 %BBB1,231,058 10 %1,190,381 9 %Below BBB(3)1,329,552 11 %1,485,915 12 %Total$12,538,265 100 %$12,589,504 100 %

(1)Includes bonds issued by states, municipalities, and political subdivisions.

(2)Includes U.S. government-sponsored agencies, residential mortgage-backed securities ("RMBS") and commercial mortgage-backed securities ("CMBS").

(3)Non-investment grade and non-rated securities.

At June 30, 2025, fixed maturities had a weighted average credit rating of A+ (2024: A+), a book yield of 4.6% (2024: 4.5%), and an average duration of 3.1 years (2024: 2.8 years). At June 30, 2025, fixed maturities together with short-term investments, cash and cash equivalents