Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 22

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 22
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 classified as held to maturity with a net carrying value of $3 million (2024: $nil) is due after 10 years.

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

c)      Equity SecuritiesThe following table provides the cost and fair values of the Company's equity securities:CostGrossunrealizedgainsGrossunrealizedlossesFairvalueAt September 30, 2025Equity securitiesCommon stocks$3,129 $120 $(515)$2,734 Preferred stocks15,002 664 (115)15,551 Exchange-traded funds229,508 132,054 (70)361,492 Bond mutual funds286,457 9,334 (25,598)270,193 Total equity securities$534,096 $142,172 $(26,298)$649,970 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:  September 30, 2025December 31, 2024  Carrying value% of TotalCarrying value% of TotalMortgage loans, held for investment:Commercial$442,857 108 %$529,075 105 %Allowance for expected credit losses (33,158)(8%)(23,378)(5%)Total mortgage loans held for investment$409,699 100 %$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