Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 56

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 56
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 Stone PointOn February 3, 2025, the Company entered into a stock repurchase agreement with T-VIII PubOpps LP ("T8"), an investment vehicle managed by Stone Point, pursuant to which T8 agreed to sell 2,234,636 shares to the Company for an aggregate price of approximately $200 million.On March 5, 2025, the Company entered into a stock repurchase agreement with T8, pursuant to which T8 agreed to sell 2,139,037 shares to the Company for an aggregate price of approximately $200 million.Loss Portfolio Transfer Reinsurance Agreement with EnstarOn April 24, 2025, the Company completed a loss portfolio transfer reinsurance agreement with Enstar (refer to Note 6 'Reserves for Losses and Loss Expenses') to retrocede a portfolio of reinsurance business predominantly related to 2021 and prior underwriting years. Investment in Monarch Point ReDuring 2025, the Company invested an additional $7 million in Monarch Point Re (refer to Note 3 'Investments'), a collateralized reinsurer which is jointly sponsored by the Company and Stone Point.Loans to Monarch Point ReDuring 2025, the Company advanced $144 million (2024: $253 million) to Monarch Point Re. These loans will be repaid in a manner consistent with the timing of amounts due to Monarch Point Re under retrocession agreements. At June 30, 2025, an amount of $127 million (2024: $236 million) was repaid and was treated as a non-cash activity in the consolidated statement of cash flows. These loans are expected to be repaid in full by August 15, 2026. The loan balance receivable at June 30, 2025 of $260 million (2024: $243 million) is included in loan advances made in the consolidated balance sheets. At June 30, 2025, the Company had committed to advance a further $84 million (2024: $nil) to Monarch Point Re.Interest on this loan is payable for this period at an interest rate of 4.8% (2024: interest rates between 4.7% and 5.5%) Interest related to this loan of $7 million (2024: $7 million) was received in advance and is included in other liabilities in the consolidated balance sheets.

15.    REORG