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

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 25
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 an open-ended fund and funds with investment terms ranging from two years to the dissolution of the underlying fund.At June 30, 2025, the Company had $21 million (2024: $21 million) of unfunded commitments as a limited partner in three private company investment funds focusing on financial services technology companies with an emphasis on insurance technology companies ("private company investment funds"). Two of these funds have investment terms of five years and one fund has an investment term of ten years.f)      Equity Method InvestmentsDuring 2023, the Company paid $22 million to acquire 18% of the common equity of Monarch Point Re (ISAC) Ltd. and Monarch Point Re (ISA 2023) Ltd., a collateralized reinsurance company formed under the laws of Bermuda as an incorporated segregated accounts company under the Incorporated Segregated Accounts Companies Act 2019, as amended (the "ISAC Act"). During 2024, the Company paid $14 million to acquire 18% of the common equity of Monarch Point Re (ISA 2024) Ltd. During 2025, the Company paid $7 million to acquire 18% of the common equity of Monarch Point Re (ISA 2025) Ltd., (Monarch Point Re (ISAC) Ltd., Monarch Point Re (ISA 2023) Ltd., Monarch Point Re (ISA 2024) Ltd. and Monarch Point Re (ISA 2025) Ltd., individually or collectively "Monarch Point Re").The Company retrocedes a diversified portfolio of casualty reinsurance business to Monarch Point Re and Stone Point Credit Adviser LLC, a wholly owned subsidiary of Stone Point Capital, LLC ("Stone Point" refer to Note 14 'Related Party Transactions') serves as its investment manager. As an investor, the Company expects to benefit from underwriting fees generated by Monarch Point Re and the income and capital appreciation Stone Point seeks to deliver through its investment management services. Monarch Point Re is not a Variable Interest Entity ("VIE") that is required to be included in the Company's consolidated financial statements. The Company accounts for its ownership interest in Monarch Point Re under the equity method of accounting.

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

During 2016, the Company paid $108 million including direct transaction costs to