Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 54

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 54
---
4: $66 million). On September 11, 2024, the Company repaid borrowings under the FHLB program of $10 million, at their stated maturity. On October 31, 2024, the Company repaid borrowings under the FHLB program of $9 million, at their stated maturity. 

At September 30, 2025, the FHLB advances have maturities in 2026 (2024: 2025) and interest payable at interest rates between 4.2% and 4.6% (2024: interest rates between 4.5% and 5.5%). The Company incurred interest expense of $1 million (2024: $1 million) for the three months ended September 30, 2025 and $2 million (2024: $3 million) for the nine months ended September 30, 2025. The borrowings under the FHLB program are secured by cash and investments with a fair value of $73 million (2024: $72 million). 

12.    COMMITMENT AND CONTINGENCIES 

Legal ProceedingsFrom time to time, the Company is subject to routine legal proceedings, including arbitrations, arising in the ordinary course of business. These legal proceedings generally relate to claims asserted by or against the Company in the ordinary course of its insurance or reinsurance operations. Estimated amounts payable related to these proceedings are included in the reserve for losses and loss expenses in the Company's consolidated balance sheets. The Company is not party to any material legal proceedings arising outside the ordinary course of business.InvestmentsRefer to Note 3 - 'Investments' for information on the Company's unfunded investment commitments related to the Company's other investment portfolio.

45

Table of  ContentsAXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)13.    OTHER COMPREHENSIVE INCOME (LOSS)

The following table presents the tax effects allocated to each component of other comprehensive income (loss):20252024Before tax amountIncome tax (expense) benefitNet of tax amountBefore tax amountIncome tax (expense) benefitNet of tax amountThree months ended September 30,Available for sale investments:Unrealized gains (losses) arising during the period for which an allowance for expected credit losses has not been recognized $51,129 $(12,050)$39,079 $379,332