Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 154

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 2
Chunk 154
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 Short-term investments51,726 223,666 Total investments$14,802,679 $15,035,413 Cash and cash equivalents(2)$1,409,201 $3,063,621 

(1)Presented at net carrying value of $405 million (2024: $443 million) in the consolidated balance sheets.

(2)Includes restricted cash and cash equivalents of $557 million and $920 million at June 30, 2025 and at December 31, 2024, respectively.

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Overview

The fair value of total investments decreased by $233 million in the six months ended June 30, 2025, due to premium paid for the LPT transaction completed with Enstar in the period and share repurchase activity, partially offset by market value gains, reinvestment of interest income and cashflows from operations.

An analysis of our investment portfolio by asset class is detailed below:

Fixed Maturities

Details of our fixed maturities portfolio are as follows:

  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