Company: AXS-PE
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001214816-25-000115
Chunk: 45

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 45
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(37,062)Foreign currency translation adjustment(156)— (156)(8,951)— (8,951)Total other comprehensive income (loss), net of tax$135,404 $(20,223)$115,181 $(60,914)$14,901 $(46,013)The following table presents details of amounts reclassified from accumulated other comprehensive income (loss) ("AOCI") to net income (loss):Amount reclassified from AOCI(1)AOCI ComponentsConsolidated statement of operations line item that includes reclassification adjustmentThree months ended March 31,20252024Unrealized gains (losses) on available for sale investmentsOther realized and unrealized investment gains (losses) $(32,384)$(24,871)Impairment losses(1,926)(8)Total before tax(34,310)(24,879)Income tax (expense) benefit6,223 1,464 Net of tax$(28,087)$(23,415)(1)     Amounts in parentheses are charges to net income (loss).

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Table of  ContentsAXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

14.    RELATED PARTY TRANSACTIONS

Investment in Monarch Point ReDuring 2025, the Company invested an additional $5 million in Monarch Point Re (refer to Note 3 'Investments'), a collateralized reinsurer which is jointly sponsored by the Company and Stone Point.Loan to Monarch Point ReDuring 2025, the Company advanced $96 million (2024: $253 million) to Monarch Point Re. These loans will be repaid in a manner consistent with the timing of amounts due to Monarch Point Re under retrocession agreements. At March 31, 2025, an amount of $71 million (2024: $236 million) was repaid and was treated as a non-cash activity in the consolidated statement of cash flows. These loans are expected to be repaid in full by May 15, 2026. The loan balance receivable at March 31, 2025 of $268 million (2024: $243 million) is included in loan advances made in the consolidated balance sheets. At March 31, 2025, the Company had committed to advance a further $132 million (2024: $nil) to Monarch Point Re.Inter