Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 20

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 20
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unicipals49,495 (4,198)51,002 (2,398)100,497 (6,596)Total fixed maturities, available for sale$2,253,146 $(185,909)$4,880,934 $(125,426)$7,134,080 $(311,335)At September 30, 2025, 2,431 fixed maturities (2024: 3,994) were in an unrealized loss position of $113 million (2024: $311 million) of which $7 million (2024: $14 million) was related to securities below investment grade or not rated.At September 30, 2025, 1,608 fixed maturities (2024: 2,108) had been in a continuous unrealized loss position for twelve months or greater and had a fair value of $1,756 million (2024: $2,253 million). The unrealized losses of $113 million (2024: $311 million) were due to non-credit factors and were expected to be recovered as the related securities approach maturity.At September 30, 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.

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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 September 30, 2025Held to maturityCorporate debt$137,403 $— $137,403 $1,788 $(5,328)$133,863 ABS(1)269,255 — 269,255 996 (8)270,243 Total fixed maturities, held to maturity$406,658 $— $406,658 $2,784 $(5,336)$404,106 At December 31, 2024    Held to maturityCorporate debt