Company: AXS-PE
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001214816-25-000115
Chunk: 77

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 77
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$16,625 2 %$24,919 3 %Direct lending funds167,425 18 %171,048 18 %Private equity funds329,542 35 %320,690 35 %Real estate funds291,564 31 %291,640 31 %Total multi-strategy, direct lending, private equity and real estate funds805,156 86 %808,297 87 %Other privately held investments133,406 14 %121,981 13 %Total other investments$938,562 100 %$930,278 100 %

Refer to Note 3(e) to the Consolidated Financial Statements 'Investments'.

Equity Method Investments

Our ownership interests in Harrington Reinsurance Holdings Limited ("Harrington") and Monarch Point Re (ISAC) Ltd., Monarch Point Re (ISA 2023) Ltd., Monarch Point Re (ISA 2024) Ltd. and Monarch Point Re (ISA 2025) Ltd. (individually or collectively "Monarch Point Re") are reported in interest in income (loss) of equity method investments. Refer to Note 3(f) to the Consolidated Financial Statements 'Investments'.

74

LIQUIDITY AND CAPITAL RESOURCES

Refer to the ‘Liquidity and Capital Resources’ section included in Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2024 for a general discussion of liquidity and capital resources. 

The following table summarizes consolidated capital:

March 31, 2025December 31, 2024Debt$1,315,555 $1,315,179 Preferred shares550,000 550,000 Common equity5,352,799 5,539,379 Shareholders’ equity5,902,799 6,089,379 Total capital$7,218,354 $7,404,558 Ratio of debt to total capital18.2 %17.8 %

We finance our operations with a combination of debt and equity capital. The debt to total capital ratio provides an indication of our capital structure, along with some insight into our financial strength. We believe that our financial flexibility remains strong. Adjustments are made if developments occur that are different from previous expectations.

Federal Home Loan Bank Advances

The Company's subsidiaries, AXIS Insurance Company and AXIS Surplus Insurance Company, are members of the