Company: AXS-PE
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001214816-25-000115
Chunk: 16

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 16
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 the Company's equity securities:CostGrossunrealizedgainsGrossunrealizedlossesFairvalueAt March 31, 2025Equity securitiesCommon stocks$3,061 $64 $(509)$2,616 Preferred stocks5,843 157 (112)5,888 Exchange-traded funds235,124 83,685 (4,301)314,508 Bond mutual funds294,350 2,469 (45,452)251,367 Total equity securities$538,378 $86,375 $(50,374)$574,379 At December 31, 2024   Equity 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  d)      Mortgage LoansThe following table provides details of the Company's mortgage loans, held for investment:  March 31, 2025December 31, 2024  Carrying value% of TotalCarrying value% of TotalMortgage loans, held for investment:Commercial$483,769 106 %$529,075 105 %Allowance for expected credit losses (25,862)(6 %)(23,378)(5)%Total mortgage loans held for investment$457,907 100 %$505,697 100 %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 credit loss). The debt service coverage ratio and loan-to-value ratio, as well as the values utilized in calculating these ratios, are updated quarterly.The Company has a high quality commercial mortgage loan portfolio with a weighted average debt service coverage ratio of 1.7