Company: AXS-PE
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001214816-25-000181
Chunk: 56

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 56
---
 months ended September 30,Nine months ended September 30,2025202420252024Unrealized gains (losses) on available for sale investmentsOther realized and unrealized investment gains (losses) $5,115 $(5,095)$(37,875)$(89,305)Impairment losses(63)(14)(2,389)(178)Total before tax5,052 (5,109)(40,264)(89,483)Income tax (expense) benefit(1,029)688 6,626 7,276 Net of tax$4,023 $(4,421)$(33,638)$(82,207)(1)     Amounts in parentheses are charges to net income (loss).

46

Table of  ContentsAXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)14.    RELATED PARTY TRANSACTIONS

Related Party Transactions with Stone Point Capital, LLC ("Stone Point")At September 30, 2025, the Company had invested $397 million in separately managed accounts ("SMAs") that are managed by Eagle Point which is majority-owned by Trident IX.                                                                                                                                                                                                                                       At September 30, 2025, the Company had invested $6 million in a SMA managed by Stone Point Credit LLC. Stock Repurchase Agreement with Stone PointOn February 3, 2025, the Company entered into a stock repurchase agreement with T-VIII PubOpps LP ("T8"), an investment vehicle managed by Stone Point, pursuant to which T8 agreed to sell 2,234,636 shares to the Company for an aggregate price of approximately $200 million.On March 5, 2025, the Company entered into a stock repurchase agreement with T8, pursuant to which T8 agreed to sell 2,139,037 shares to the Company for an aggregate price of approximately $200 million.Loss Portfolio Transfer Reinsurance Agreement with EnstarOn April 24, 2025, the Company completed a loss portfolio transfer reinsurance agreement with Enstar (refer to Note 6 'Reserves for Losses and Loss Expenses') to retrocede a portfolio of reinsurance business predominantly related to 2021 and prior underwriting years. Investment in Monarch Point ReDuring 2025, the Company invested an additional $9 million in Monarch Point Re (refer to Note 3 'Investments'), a collateralized reinsurer which is