Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 45

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 45
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 the cost and fair values of the Company's equity securities:CostGrossunrealizedgainsGrossunrealizedlossesFairvalueAt December 31, 2024Equity securitiesCommon stocks$3,061 $65 $(488)$2,638 Preferred stocks5,843 136 (112)5,867 Exchange-traded funds188,771 126,477 (1,206)314,042 Bond mutual funds323,068 540 (66,881)256,727 Total equity securities$520,743 $127,218 $(68,687)$579,274 At December 31, 2023Equity securitiesCommon stocks$2,843 $101 $(398)$2,546 Preferred stocks5,496 218 (113)5,601 Exchange-traded funds182,989 105,858 (1,572)287,275 Bond mutual funds352,505 4,119 (63,535)293,089 Total equity securities$543,833 $110,296 $(65,618)$588,511 

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

d)    Mortgage LoansThe following table provides details of the Company's mortgage loans, held for investment:   December 31, 2024December 31, 2023  Carrying value% of TotalCarrying value% of TotalMortgage loans held for investment:Commercial$529,075 105 %$616,368 101 %Allowance for expected credit losses(23,378)(5 %)(6,220)(1 %)Total mortgage loans held for investment$505,697 100 %$610,148 100 %The primary credit quality indicators for commercial mortgage loans are the debt service coverage ratio which compares a property’s net operating income to amounts needed to service the principal and interest due under the loan, (generally, the lower the debt service coverage ratio, the higher the risk of experiencing a credit loss) and the loan-to-value ratio which compares the unpaid principal balance of the loan to the estimated fair value of the underlying collateral (generally, the higher the loan-to-value ratio, the higher the risk of experiencing a