Company: AXS-PE
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001214816-25-000115
Chunk: 21

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 21
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 to Note 3(e) 'Other Investments'). The Company does not have the power to direct the activities that are most significant to the economic performance of these VIEs. Therefore, the Company is not the primary beneficiary of these VIEs. The maximum exposure to loss on these interests is limited to the amount of commitment made by the Company. The Company has not provided financial or other support to these structured securities other than the original investment.h)      Net Investment IncomeNet investment income was derived from the following sources:  Three months ended March 31,  20252024Fixed maturities$146,711 $139,396 Other investments22,410 5,673 Equity securities3,208 2,762 Mortgage loans6,868 9,130 Cash and cash equivalents33,380 13,661 Short-term investments1,986 3,463 Gross investment income214,563 174,085 Investment expenses(6,850)(6,702)Net investment income$207,713 $167,383 

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

i)      Net Investment Gains (Losses)The following table provides an analysis of net investment gains (losses):  Three months ended March 31,  20252024Gross realized investment gainsFixed maturities, short-term investments, and cash and cash equivalents$22,138 $14,399 Equity securities36,068 30,626 Gross realized investment gains58,206 45,025 Gross realized investment lossesFixed maturities, short-term investments, and cash and cash equivalents(51,739)(43,932)Equity securities(8,871)(7,712)Gross realized investment losses(60,610)(51,644)(Increase) decrease in allowance for expected credit losses, fixed maturities, available for sale(245)6,522 (Increase) decrease in allowance for expected credit losses, mortgage loans(2,484)(1,858)Impairment losses(1)(1,926)(8)Change in fair value of investment derivatives(2)(416)795 Net unrealized gains (losses) on equity securities(22,530)(8,039)Net investment