Company: AXS-PE
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001214816-25-000149
Chunk: 21

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 21
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 of the Company's ABS, held to maturity was $nil.To estimate expected credit losses for corporate debt securities, held to maturity, the Company's projected cash flows are primarily driven by assumptions regarding the severity of loss, which is a function of the probability of default and projected recovery rates. The Company's default and recovery rates are based on credit ratings, credit analysis and macroeconomic forecasts. At June 30, 2025, the allowance for credit losses expected to be recognized over the life of the Company's corporate debt, held to maturity was $nil.Contractual MaturitiesExpected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. ABS classified as held to maturity had a net carrying value of $276 million (2024: $321 million). Corporate debt classified as held to maturity with a net carrying value of $28 million (2024: $28 million) is due between 1 year and 3 years. Corporate debt classified as held to maturity with a net carrying value of $98 million (2024: $95 million) is due between 3 years and 10 years. Corporate debt classified as held to maturity with a net carrying value of $3 million (2024: $nil) is due after 10 years.

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

c)      Equity SecuritiesThe following table provides the cost and fair values of the Company's equity securities:CostGrossunrealizedgainsGrossunrealizedlossesFairvalueAt June 30, 2025Equity securitiesCommon stocks$3,129 $99 $(518)$2,710 Preferred stocks11,832 356 (124)12,064 Exchange-traded funds229,523 108,452 (266)337,709 Bond mutual funds284,590 9,505 (27,303)266,792 Total equity securities$529,074 $118,412 $(28,211)$619,275 At December 31, 2024   Equity securitiesCommon stocks$3,061 $65 $(488)$2,638 Preferred stocks5,843 136 (112)5,867 Exchange-traded funds188,771 126,