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DEBT AND FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

SCHEDULE OF DEBT

The following table summarizes the Company's debt:

	Year ended December 31,	2019				2018
	5.875% Senior Notes	$	499,687			$	498,967
	2.650% Senior Notes(1)	—				249,885
	5.150% Senior Notes	246,491				246,425
	4.000% Senior Notes	346,997				346,684
	3.900% Senior Notes	295,339				—
	Junior Subordinated Notes	419,643				—
	Total Debt	$	1,808,157			$	1,341,961

(1) On April 1, 2019, AXIS Specialty Finance PLC, a 100% owned finance subsidiary, repaid $250 million aggregate principal amount of 2.650% Senior Notes at their stated maturity.

The tables below provide the key terms of the Company's debt:

	Description	Issuance Date		Aggregate Principal			Issue Price			Net Proceeds			Maturity Date
	5.875% Senior Notes	March 23, 2010		500,000			99.624	%		495,000			June 1, 2020
	5.150% Senior Notes	March 13, 2014		250,000			99.474	%		246,000			April 1, 2045
	4.000% Senior Notes	December 6, 2017		350,000			99.780	%		347,000			December 6, 2027
	3.900% Senior Notes	June 19, 2019		300,000			99.360	%		296,000			July 15, 2029
	Junior Subordinated Notes	December 10, 2019		425,000			99.000	%		420,750			January 15, 2040

	Description	Interest Rate			Interest Payments Due
	5.875% Senior Notes	5.875	%		Semi-annually in arrears on June 1 and December 1 of each year
	5.150% Senior Notes	5.150	%		Semi-annually in arrears on April 1 and October 1 of each year
	4.000% Senior Notes	4.000	%		Semi-annually in arrears on June 6 and December 6 of each year
	3.900% Senior Notes	3.900	%		Semi-annually in arrears on January 15 and July 15 of each year
	Junior Subordinated Notes(2)	4.900	%		Semi-annually on January 15 and July 15 of each year

(2)

The Junior Notes accrue interest from the date of issuance to, but excluding, January 15, 2030 (the "Par Call Date") at the fixed rate of 4.900% and from, and including, the Par Call Date, at a rate equal to the Five-Year Treasury Rate as of the Reset Interest Determination Date, plus 3.186%. Interest of the Junior Notes is payable semi-annually on January 15 and July 15 of each year, beginning on July 15, 2020.

SCHEDULED DEBT MATURITY

The following table provides the scheduled maturity of the Company's debt obligations at December 31, 2019:

	Year ended December 31,
	2020	$	500,000
	2021	—
	2022	—
	2023	—
	2024	—
	After 2024	1,325,000
	Unamortized discount and debt issuance expenses	(16,843		)
	Total senior notes and notes payable	$	1,808,157

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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