DEBT AND FINANCING ARRANGEMENTS |
6 Months Ended |
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Jun. 30, 2026 | |
| Debt Disclosure [Abstract] | |
| DEBT AND FINANCING ARRANGEMENTS | DEBT AND FINANCING ARRANGEMENTS Letter of Credit Facility On March 23, 2026, the $300 million Facility was amended to reduce the committed utilization capacity available under the Facility to $250 million (the "$250 million Facility") and extend the tenors of issuable letters of credit to March 31, 2028. On March 23, 2025, the $300 million Facility was amended to extend the tenors of issuable letters of credit to March 31, 2027. On August 26, 2025, AXIS Corporate Capital UK II Limited (the "Borrower"), acting through AXIS Managing Agency Limited, as managing agent of Syndicate 1686 and Syndicate 2050 (collectively, the "Syndicates"), entered into a Facility Letter and Master Agreement (together, the "Agreements") with Citibank (the "Lender"), providing for an uncommitted unsecured letter of credit facility up to a maximum aggregate amount of $90 million (the "$90 million Facility") with tenors of issuable letters of credit to August 31, 2030. The facility is supported by a guarantee issued by AXIS Specialty Limited. The letter of credit facility is intended to support the Borrower's obligations in connection with the Syndicates’ participation in the Lloyd’s insurance market, specifically its Funds at Lloyd’s requirements. The facility contains customary representations, warranties, covenants, and events of default for transactions of this nature. On October 8, 2025, AXIS Specialty Limited (the "Borrower"), entered into a Letter Agreement with Wells Fargo Bank, National Association (the "Bank"), providing for an uncommitted bilateral short-term line of credit facility up to a maximum aggregate amount of $150 million (the "$150 million Facility") with tenors of issuable letters of credit to October 7, 2026. The $150 million Facility is intended to support the Borrower's working capital requirements and general corporate expenses. The line of credit facility contains customary representations, warranties, covenants, and events of default for transactions of this nature.
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