Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 315

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 315
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,500 $35,182 $347 $1,832,151 % of total73%20%5%2%—%100%

At December 31, 2024, the average duration our ABS portfolio was 1.0 year (2023: 0.6 years) and the weighted average life was 3.1 years (2023: 3.0 years).

88

Municipals

Municipals comprise revenue bonds and general obligation bonds issued by U.S. domiciled state and municipal entities and are primarily held in the taxable portfolios of our U.S. subsidiaries. 

At December 31, 2024, our municipals had a fair value of $111 million (2023: $158 million), a weighted average credit rating of AA- (2023: AA-) and duration of 3.3 years (2023: 3.9 years).

Gross Unrealized Losses

At December 31, 2024, the gross unrealized losses on our fixed maturities, available for sale portfolio were $311 million (2023: $481 million).

Investment grade fixed maturities, available for sale 

The severity of the unrealized loss position as a percentage of amortized cost for all investment grade fixed maturities in an unrealized loss position including any impact of foreign exchange losses (gains) was as follows:  December 31, 2024December 31, 2023Severity ofUnrealized LossFair valueGrossunrealizedlosses% oftotal grossunrealizedlossesFair valueGrossunrealizedlosses% oftotal grossunrealizedlosses0-10%$5,564,985 $(147,136)50 %$5,843,552 $(194,115)42 %10-20%866,342 (138,082)46 %1,590,548 (245,428)52 %20-30%43,062 (11,696)4 %102,208 (26,886)6 %30-40%183 (89)— %193 (79)— %40-50%— — — %— — — %> 50%132 (41)— %946 (1,070)— %Total$6,474,704 $(297,044)100 %