Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 126

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 126
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31, 2024, 2023 and 2022, three brokers accounted for 38%, 38% and 43% of gross premiums written, respectively. Aon plc accounted for 14% (2023: 15%, 2022: 17%), Marsh & McLennan Companies Inc. accounted for 14% (2023: 14%, 2022: 17%), and Arthur J. Gallagher & Co. accounted for 10% (2023: 9%, 2022: 9%). No other broker and no single insured or reinsured accounted for more than 10% of gross premiums written in any of the last three years.

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AXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTSDECEMBER 31, 2024, 2023 AND 202212.    COMMITMENTS AND CONTINGENCIES (CONTINUED)

c)    Reinsurance Purchase CommitmentIn the normal course of business, the Company purchases reinsurance and retrocessional (collectively referred to as "reinsurance") protection for its insurance and reinsurance business. Minimum reinsurance premiums are contractually due in advance on a quarterly basis. At December 31, 2024, the Company had outstanding reinsurance purchase commitments of $nil (2023: $6 million due before June 2025). Actual payments under the reinsurance contracts will depend on the underlying subject premium and may exceed the minimum reinsurance premiums.d)    Legal ProceedingsFrom time to time, the Company is subject to routine legal proceedings, including arbitrations, arising in the ordinary course of business. These legal proceedings generally relate to claims asserted by or against the Company in the ordinary course of its insurance or reinsurance operations. Estimated amounts payable related to these proceedings are included in reserve for losses and loss expenses in the Company's consolidated balance sheets. The Company is not party to any material legal proceedings arising outside the ordinary course of business. e)    InvestmentsAt December 31, 2024, the Company has $526 million (2023: $502 million) of unfunded investment commitments related to its other investment portfolio, which are callable by investment managers (refer to Note 5(e) 'Investments'). At December 31, 2024, the Company has $9 million (2023: $10 million) of unfunded investment commitments to purchase commercial mortgage loans and $94 million (2023: $16 million) of