Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 317

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 317
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 Investments

Details of our other investments portfolio are as follows:  December 31, 2024December 31, 2023Multi-strategy funds$24,919 3 %$24,619 3 %Direct lending funds171,048 18 %192,270 20 %Private equity funds320,690 35 %301,712 32 %Real estate funds291,640 31 %317,325 33 %Total multi-strategy, direct lending, private equity and real estate funds808,297 87 %835,926 88 %CLO-Equities— — %5,300 1 %Other privately held investments121,981 13 %108,187 11 %Total other investments$930,278 100 %$949,413 100 %

Refer to Item 8, Note 5(e) to the Consolidated Financial Statements 'Investments'. 

Equity Method Investments

Our ownership interests in Harrington Reinsurance Holdings Limited ("Harrington") and Monarch Point Re (ISAC) Ltd. and Monarch Point Re (ISA 2023) Ltd. (collectively "Monarch Point Re") are reported in interest in income (loss) of equity method investments. 

Interest in income (loss) of equity method investments was $18 million in 2024 compared to $4 million in 2023, an increase of $14 million, principally attributable to net investment income and underwriting income related to these ownership interests.

Restricted Assets 

Refer to Item 8, Note 5(j) to the Consolidated Financial Statements 'Investments'.

90

LIQUIDITY AND CAPITAL RESOURCES 

Liquidity

Liquidity is a measure of a company’s ability to generate cash flows sufficient to meet the short-term and long-term cash requirements of its business operations. We manage liquidity at the holding company and operating subsidiary level.

Holding Company

As a holding company, AXIS Capital has no operations of its own and its assets consist primarily of investments in its subsidiaries. Accordingly, AXIS Capital’s future cash flows depend on the availability of dividends or other statutorily permissible distributions, such as returns of capital, from its subsidiaries. 

The ability to pay such dividends and/or distributions is limited by the applicable laws and regulations of the various countries and states in which AXIS Capital’s subsidiaries operate (refer to Item 8, Note 22 to the Consolidated Financial Statements 'Stat