Company: AXS-PE
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001214816-25-000115
Chunk: 22

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 22
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 gains (losses)$(30,005)$(9,207)(1) Related to instances where the Company intends to sell securities or it is more likely than not that the Company will be required to sell securities before their anticipated recovery.(2) Refer to Note 5 'Derivative Instruments'.The following table provides a reconciliation of the beginning and ending balances of the allowance for expected credit losses on fixed maturities classified as available for sale:  Three months ended March 31,  20252024Balance at beginning of period$3,938 $10,759 Expected credit losses on securities where credit losses were not previously recognized314 31 Additions (reductions) for expected credit losses on securities where credit losses were previously recognized28 (1,553)Impairments of securities which the Company intends to sell or more likely than not will be required to sell— — Securities sold/redeemed/matured(97)(5,000)Balance at end of period$4,183 $4,237 

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Table of  ContentsAXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)3.    INVESTMENTS (CONTINUED)

The following table provides a reconciliation of the beginning and ending balances of the allowance for expected credit losses on mortgage loans:  Three months ended March 31,  20252024Balance at beginning of period$23,378 $6,220 Expected credit losses on loans where credit losses were not previously recognized— 1,893 Additions (reductions) for expected credit losses on loans where credit losses were previously recognized2,484 — Loans sold/redeemed/matured— — Balance at end of period$25,862 $8,113 j)    Reverse Repurchase AgreementsAt March 31, 2025, the Company held $2 million (2024: $543 million) of reverse repurchase agreements. These loans are fully collateralized, are generally outstanding for a short period of time and are presented on a gross basis as part of cash and cash equivalents in the Company's consolidated balance sheets. The required collateral for these loans is either cash or U.S. Treasuries at a minimum rate of 102% of the loan principal. Upon maturity, the Company receives principal and interest income. The Company monitors the estimated fair value of the securities loaned and