Company: AXS-PE
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001214816-25-000115
Chunk: 14

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 14
---
 maturities (2024: 3,994) were in an unrealized loss position of $208 million (2024: $311 million) of which $25 million (2024: $14 million) was related to securities below investment grade or not rated.At March 31, 2025, 1,771 fixed maturities (2024: 2,108) had been in a continuous unrealized loss position for twelve months or greater and had a fair value of $1,806 million (2024: $2,253 million). The unrealized losses of $208 million (2024: $311 million) were due to non-credit factors and were expected to be recovered as the related securities approach maturity.At March 31, 2025, the Company did not intend to sell the securities in an unrealized loss position and it is more likely than not that the Company will not be required to sell these securities before the anticipated recovery of their amortized costs.

17

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

b)      Fixed Maturities, Held to MaturityThe following table provides the amortized cost and fair values of the Company's fixed maturities classified as held to maturity:AmortizedcostAllowance for expected credit lossesNet carrying valueGrossunrealizedgainsGrossunrealizedlossesFairvalueAt March 31, 2025Held to maturityCorporate debt$128,906 $— $128,906 $1,001 $(6,814)$123,093 ABS(1)260,665 — 260,665 269 (200)260,734 Total fixed maturities, held to maturity$389,571 $— $389,571 $1,270 $(7,014)$383,827 At December 31, 2024    Held to maturityCorporate debt$122,706 $— $122,706 $675 $(7,764)$115,617 ABS(1)320,694 — 320,694 560 (120)321,134 Total fixed maturities, held to maturity$443,400 $— $443,400 $1,235 $(7,884)$436,751 (1