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DEBT AND FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

SCHEDULE OF DEBT

The following table summarizes the Company's debt:

			Year ended December 31,			2020						2019
			5.875% Senior Notes (1)			$	—					$	499,687
			5.150% Senior Notes			246,559						246,491
			4.000% Senior Notes			347,324						346,997
			3.900% Senior Notes			295,748						295,339
			Junior Subordinated Notes			420,064						419,643
			Total Debt			$	1,309,695					$	1,808,157

(1)    On June 1, 2020, AXIS Specialty Finance LLC, a 100% owned finance subsidiary, repaid $500 million aggregate principal amount of 5.875% 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
			5.150% 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
			5.150% 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, 2020:

			Year ended December 31,
			2021			—
			2022			—
			2023			—
			2024			—
			2025			—
			After 2025			1,325,000
			Unamortized discount and debt issuance expenses			(15,305)
			Total senior notes and notes payable			$	1,309,695

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- Definition

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 maturity and sinking fund requirement for long-term debt.

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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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