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

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 30
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919 24,919 Direct lending funds— — — 171,048 171,048 Private equity funds— — — 320,690 320,690 Real estate funds— — — 291,640 291,640 Other privately held investments— — 92,230 29,751 121,981 — — 92,230 838,048 930,278 Short-term investments— 223,666 — — 223,666 Other assetsDerivative instruments (refer to Note 5)— 9,439 — — 9,439 Total Assets$3,083,998 $9,733,911 $239,453 $838,048 $13,895,410 LiabilitiesDerivative instruments (refer to Note 5)$— $3,100 $— $— $3,100 Total Liabilities$— $3,100 $— $— $3,100 

30

Table of  ContentsAXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)4.    FAIR VALUE MEASUREMENTS (CONTINUED)

The following table quantifies the significant unobservable inputs used in estimating fair values at March 31, 2025 of investments classified as Level 3 in the fair value hierarchy:Asset fair valueValuation techniqueUnobservable inputAmount / RangeWeighted averageOther investments - Other privately held investments$15,376 Discounted cash flowDiscount rate5.7%5.7%Default rate0.5%0.5%Loss absorption yield1.0%1.0%Estimated maturity date0-1 year1 yearNote: Fixed maturities of $167 million that are classified as Level 3 are excluded from the above table as these securities are priced using broker-dealer quotes. In addition, other privately held investments of $82 million that are classified as Level 3 are excluded from the above table as these investments are priced using capital statements received from investee companies.Other Investments - Other Privately Held SecuritiesOther privately held securities are initially valued at cost which approximates fair value. In subsequent measurement periods, the fair value of the variable yield security was determined using an externally developed discounted cash flow model. This model includes inputs that are specific to that investment. The inputs used in the fair value measurement