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Segment Information | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Segment Information | The Company classifies its businesses into three underwriting segments – insurance, reinsurance and mortgage – and two operating segments – corporate and ‘other.’ The Company determined its reportable segments using the management approach described in accounting guidance regarding disclosures about segments of an enterprise and related information. The accounting policies of the segments are the same as those used for the preparation of the Company’s consolidated financial statements. Intersegment business is allocated to the segment accountable for the underwriting results. The Company’s insurance, reinsurance and mortgage segments each have managers who are responsible for the overall profitability of their respective segments and who are directly accountable to the Company’s chief operating decision makers, the Chief Executive Officer of Arch Capital, Chief Financial Officer and Treasurer of Arch Capital and the President and Chief Underwriting Officer of Arch Capital. The chief operating decision makers do not assess performance, measure return on equity or make resource allocation decisions on a line of business basis. Management measures segment performance for its three underwriting segments based on underwriting income or loss. The Company does not manage its assets by underwriting segment, with the exception of goodwill and intangible assets, and, accordingly, investment income is not allocated to each underwriting segment. The insurance segment consists of the Company’s insurance underwriting units which offer specialty product lines on a worldwide basis. Product lines include: • Construction and national accounts: primary and excess casualty coverages for middle market and large construction accounts, a comprehensive range of products for middle market accounts in specialty industries and casualty solutions for large national accounts, including loss sensitive primary insurance programs (large deductible, self-insured retention and retrospectively rated programs). • Excess and surplus casualty: primary and excess casualty insurance coverages written on a non-admitted basis. • Professional lines: directors’ and officers’ liability, errors and omissions liability, employment practices liability, fiduciary liability, crime, professional indemnity and other financial related coverages for corporate, private equity, venture capital, real estate investment trust, limited partnership, financial institution and not-for-profit clients of all sizes, cyber insurance, and medical professional and general liability insurance coverages for the healthcare industry. The business is predominately written on a claims-made basis. • Programs: primarily targeting program managers with unique expertise and niche products offering some combination of general liability, commercial automobile, property, inland marine, umbrella and workers’ compensation. • Property, energy, marine and aviation: primary and excess general property insurance coverages, including catastrophe-exposed property coverage, for commercial clients. Coverages for marine include hull, cargo, war, specie and liability. Aviation, stand-alone terrorism and political risks are also offered. Coverage may be provided for operational and construction risk. • Travel, accident and health: specialty travel and accident and related insurance products for individual, group travelers, travel agents and suppliers, as well as accident and health, which provides accident, disability and medical plan insurance coverages for employer groups, medical plan members, students and other participant groups. • Warranty and lenders solutions: collateral protection, debt cancellation and service contract reimbursement products to banks, credit unions, automotive dealerships and original equipment manufacturers and other specialty programs that pertain to automotive lending and leasing. • Other: includes alternative market risks (including captive insurance programs), excess workers’ compensation and employer’s liability insurance coverages for qualified self-insured groups, associations and trusts, and contract, commercial and transactional surety coverages. The reinsurance segment consists of the Company’s reinsurance underwriting units which offer specialty product lines on a worldwide basis. Reinsurance agreements are typically offered on a proportional and/or excess of loss basis and provide coverage to ceding company clients for specific underlying written policies. Product lines include: •Casualty: provides coverage on third party liability exposures including, among others, executive assurance, professional liability, excess and umbrella liability, excess motor and healthcare business, and workers’ compensation. Business is assumed primarily on a treaty basis, with some facultative coverages also offered. •Marine and aviation: provides coverage for energy, hull, cargo, specie, liability and transit, and aviation business, including airline and general aviation risks. Business written may also include space business, which includes coverages for satellite assembly, launch and operation for commercial space programs. •Other specialty: provides coverage for proportional motor reinsurance, whole account multi-line treaties, cyber, trade credit and surety, accident and health, workers’ compensation catastrophe, agriculture and political risk, among others. •Property catastrophe: provides protection for most types of catastrophic losses, including hurricane, earthquake, flood, tornado, hail and fire, and for other perils on a case-by-case basis. Excess of loss coverages are triggered when aggregate losses and loss adjustment expense from a single occurrence of a covered peril exceed the retention specified in the contract. •Property excluding property catastrophe: provides coverage for personal lines and/or commercial property exposures and principally covers buildings, structures, equipment and contents. The primary perils in this business include fire, explosion, collapse, riot, vandalism, wind, tornado, flood and earthquake. Business is assumed on either a treaty or facultative basis. •Other: includes life reinsurance business, casualty clash business and, in limited instances, non-traditional business which is intended to provide insurers with risk management solutions that complement traditional reinsurance. The mortgage segment includes the Company’s underwriting units which offer mortgage insurance and reinsurance products on a worldwide basis. Underwriting units include: •U.S. primary mortgage insurance: offers private mortgage insurance through Arch Mortgage Insurance Company and United Guaranty Residential Insurance Company (combined “Arch MI U.S.”), both approved eligible mortgage insurers by Fannie Mae and Freddie Mac. Arch MI U.S. also includes AMG, which is not a government sponsored enterprise (“GSE”) approved entity. •U.S. credit risk transfer (“CRT”) and other: underwrites CRT transactions, which are predominantly with GSEs, and other U.S. reinsurance transactions. •International mortgage insurance/reinsurance: underwrites mortgage insurance and reinsurance outside of the U.S. The corporate segment results include net investment income, net realized gains or losses (which includes changes in the allowance for credit losses on financial assets and net impairment losses recognized in earnings), equity in net income or loss of investments accounted for using the equity method, other income (loss), corporate expenses, transaction costs and other, amortization of intangible assets, interest expense, net foreign exchange gains or losses, income taxes, income or loss from operating affiliates and items related to the Company’s non-cumulative preferred shares. Such amounts exclude the results of the ‘other’ segment. Through June 30, 2021, the ‘other’ segment included the results of Somers. In July 2021, the Company announced the completion of the previously disclosed acquisition of Somers by Greysbridge. Based on the governing documents of Greysbridge, the Company has concluded that, while it retains significant influence over Somers, Somers no longer constitutes a variable interest entity. Accordingly, effective July 1, 2021, Arch no longer consolidates the results of Somers in its consolidated financial statements. See note 12, “Variable Interest Entity and Noncontrolling Interests.” The following tables summarize the Company’s underwriting income or loss by segment, together with a reconciliation of underwriting income or loss to net income available to Arch common shareholders, summary information regarding net premiums written and earned by major line of business and net premiums written by location:
| Year Ended December 31, 2022
| Insurance |  | Reinsurance |  | Mortgage |  | Sub-Total |  | Other |  | Total
Gross premiums written (1) | $ | 6,930,864 |  |  | $ | 6,948,438 |  |  | $ | 1,454,971 |  |  | $ | 15,326,447 |  |  | $ | — |  |  | $ | 15,326,447 |
Premiums ceded | (1,910,222) |  |  | (2,024,462) |  |  | (322,400) |  |  | (4,249,258) |  |  | — |  |  | (4,249,258) |
Net premiums written | 5,020,642 |  |  | 4,923,976 |  |  | 1,132,571 |  |  | 11,077,189 |  |  | — |  |  | 11,077,189 |
Change in unearned premiums | (461,307) |  |  | (964,595) |  |  | 26,790 |  |  | (1,399,112) |  |  | — |  |  | (1,399,112) |
Net premiums earned | 4,559,335 |  |  | 3,959,381 |  |  | 1,159,361 |  |  | 9,678,077 |  |  | — |  |  | 9,678,077 |
Other underwriting income | — |  |  | 4,871 |  |  | 8,356 |  |  | 13,227 |  |  | — |  |  | 13,227 |
Losses and loss adjustment expenses | (2,782,945) |  |  | (2,568,843) |  |  | 324,271 |  |  | (5,027,517) |  |  | — |  |  | (5,027,517) |
Acquisition expenses | (885,866) |  |  | (813,555) |  |  | (40,159) |  |  | (1,739,580) |  |  | — |  |  | (1,739,580) |
Other operating expenses | (665,472) |  |  | (267,531) |  |  | (195,172) |  |  | (1,128,175) |  |  | — |  |  | (1,128,175) |
Underwriting income | $ | 225,052 |  |  | $ | 314,323 |  |  | $ | 1,256,657 |  |  | 1,796,032 |  |  | — |  |  | 1,796,032 |
Net investment income |  |  |  |  |  |  | 496,547 |  |  | — |  |  | 496,547 |
Net realized gains (losses) |  |  |  |  |  |  | (662,734) |  |  | — |  |  | (662,734) |
Equity in net income (loss) of investments accounted for using the equity method |  |  |  |  |  |  | 115,856 |  |  | — |  |  | 115,856 |
Other income (loss) |  |  |  |  |  |  | (26,165) |  |  | — |  |  | (26,165) |
Corporate expenses |  |  |  |  |  |  | (94,390) |  |  | — |  |  | (94,390) |
Transaction costs and other |  |  |  |  |  |  | (1,092) |  |  | — |  |  | (1,092) |
Amortization of intangible assets |  |  |  |  |  |  | (106,200) |  |  | — |  |  | (106,200) |
Interest expense |  |  |  |  |  |  | (130,266) |  |  | — |  |  | (130,266) |
Net foreign exchange gains (losses) |  |  |  |  |  |  | 100,905 |  |  | — |  |  | 100,905 |
Income (loss) before income taxes and income (loss) from operating affiliates |  |  |  |  |  |  | 1,488,493 |  |  | — |  |  | 1,488,493 |
Income tax expense |  |  |  |  |  |  | (79,961) |  |  | — |  |  | (79,961) |
Income (loss) from operating affiliates |  |  |  |  |  |  | 73,891 |  |  | — |  |  | 73,891 |
Net income (loss) |  |  |  |  |  |  | 1,482,423 |  |  | — |  |  | 1,482,423 |
Amounts attributable to redeemable noncontrolling interests |  |  |  |  |  |  | (5,490) |  |  | — |  |  | (5,490) |
Net income (loss) available to Arch |  |  |  |  |  |  | 1,476,933 |  |  | — |  |  | 1,476,933 |
Preferred dividends |  |  |  |  |  |  | (40,736) |  |  | — |  |  | (40,736) |
Net income (loss) available to Arch common shareholders |  |  |  |  |  |  | $ | 1,436,197 |  |  | $ | — |  |  | $ | 1,436,197 |
Underwriting Ratios |  |  |  |  |  |  |  |  |  |  |
Loss ratio | 61.0 | % |  | 64.9 | % |  | -28.0 | % |  | 51.9 | % |  | — | % |  | 51.9 | %
Acquisition expense ratio | 19.4 | % |  | 20.5 | % |  | 3.5 | % |  | 18.0 | % |  | — | % |  | 18.0 | %
Other operating expense ratio | 14.6 | % |  | 6.8 | % |  | 16.8 | % |  | 11.7 | % |  | — | % |  | 11.7 | %
Combined ratio | 95.0 | % |  | 92.2 | % |  | -7.7 | % |  | 81.6 | % |  | — | % |  | 81.6 | %
Goodwill and intangible assets | $ | 228,532 |  |  | $ | 144,846 |  |  | $ | 430,911 |  |  | $ | 804,289 |  |  | $ | — |  |  | $ | 804,289 |
Total investable assets |  |  |  |  |  |  | $ | 28,065,497 |  |  | $ | — |  |  | $ | 28,065,497 |
Total assets |  |  |  |  |  |  | 47,990,507 |  |  | — |  |  | 47,990,507 |
Total liabilities |  |  |  |  |  |  | 35,069,605 |  |  | — |  |  | 35,069,605 |
(1) Certain amounts included in the gross premiums written of each segment are related to intersegment transactions. Accordingly, the sum of gross premiums written for each segment does not agree to the total gross premiums written as shown in the table above due to the elimination of intersegment transactions in the total.
| Year Ended December 31, 2021
| Insurance |  | Reinsurance |  | Mortgage |  | Sub-Total |  | Other |  | Total
Gross premiums written (1) | $ | 5,867,734 |  |  | $ | 5,093,930 |  |  | $ | 1,507,825 |  |  | $ | 12,463,788 |  |  | $ | 457,465 |  |  | $ | 12,752,487 |
Premiums ceded | (1,719,541) |  |  | (1,839,556) |  |  | (246,757) |  |  | (3,800,153) |  |  | (102,763) |  |  | (3,734,150) |
Net premiums written | 4,148,193 |  |  | 3,254,374 |  |  | 1,261,068 |  |  | 8,663,635 |  |  | 354,702 |  |  | 9,018,337 |
Change in unearned premiums | (521,725) |  |  | (413,931) |  |  | 22,351 |  |  | (913,305) |  |  | (22,734) |  |  | (936,039) |
Net premiums earned | 3,626,468 |  |  | 2,840,443 |  |  | 1,283,419 |  |  | 7,750,330 |  |  | 331,968 |  |  | 8,082,298 |
Other underwriting income | — |  |  | 3,669 |  |  | 17,665 |  |  | 21,334 |  |  | 739 |  |  | 22,073 |
Losses and loss adjustment expenses | (2,344,365) |  |  | (1,924,719) |  |  | (56,677) |  |  | (4,325,761) |  |  | (259,042) |  |  | (4,584,803) |
Acquisition expenses, net | (606,265) |  |  | (536,754) |  |  | (97,418) |  |  | (1,240,437) |  |  | (62,741) |  |  | (1,303,178) |
Other operating expenses | (558,906) |  |  | (212,810) |  |  | (194,010) |  |  | (965,726) |  |  | (32,869) |  |  | (998,595) |
Underwriting income (loss) | $ | 116,932 |  |  | $ | 169,829 |  |  | $ | 952,979 |  |  | 1,239,740 |  |  | (21,945) |  |  | 1,217,795 |
Net investment income |  |  |  |  |  |  | 346,808 |  |  | 42,310 |  |  | 389,118 |
Net realized gains (losses) |  |  |  |  |  |  | 299,207 |  |  | 80,638 |  |  | 379,845 |
Equity in net income (loss) of investments accounted for using the equity method |  |  |  |  |  |  | 366,402 |  |  | — |  |  | 366,402 |
Other income (loss) |  |  |  |  |  |  | 10,244 |  |  | — |  |  | 10,244 |
Corporate expenses |  |  |  |  |  |  | (77,119) |  |  | — |  |  | (77,119) |
Transaction costs and other |  |  |  |  |  |  | (1,103) |  |  | (935) |  |  | (2,038) |
Amortization of intangible assets |  |  |  |  |  |  | (82,057) |  |  | (898) |  |  | (82,955) |
Interest expense |  |  |  |  |  |  | (131,060) |  |  | (8,410) |  |  | (139,470) |
Net foreign exchange gains (losses) |  |  |  |  |  |  | 42,854 |  |  | (1,325) |  |  | 41,529 |
Income (loss) before income taxes and income (loss) from operating affiliates |  |  |  |  |  |  | 2,013,916 |  |  | 89,435 |  |  | 2,103,351 |
Income tax expense |  |  |  |  |  |  | (128,348) |  |  | (234) |  |  | (128,582) |
Income (loss) from operating affiliates |  |  |  |  |  |  | 264,693 |  |  | — |  |  | 264,693 |
Net income (loss) |  |  |  |  |  |  | 2,150,261 |  |  | 89,201 |  |  | 2,239,462 |
Amounts attributable to redeemable noncontrolling interests |  |  |  |  |  |  | (2,346) |  |  | (1,953) |  |  | (4,299) |
Amounts attributable to nonredeemable noncontrolling interests |  |  |  |  |  |  | — |  |  | (78,314) |  |  | (78,314) |
Net income (loss) available to Arch |  |  |  |  |  |  | 2,147,915 |  |  | 8,934 |  |  | 2,156,849 |
Preferred dividends |  |  |  |  |  |  | (48,343) |  |  | — |  |  | (48,343) |
Loss on redemption of preferred shares |  |  |  |  |  |  | (15,101) |  |  | — |  |  | (15,101) |
Net income (loss) available to Arch common shareholders |  |  |  |  |  |  | $ | 2,084,471 |  |  | $ | 8,934 |  |  | $ | 2,093,405 |
Underwriting Ratios |  |  |  |  |  |  |  |  |  |  |
Loss ratio | 64.6 | % |  | 67.8 | % |  | 4.4 | % |  | 55.8 | % |  | 78.0 | % |  | 56.7 | %
Acquisition expense ratio | 16.7 | % |  | 18.9 | % |  | 7.6 | % |  | 16.0 | % |  | 18.9 | % |  | 16.1 | %
Other operating expense ratio | 15.4 | % |  | 7.5 | % |  | 15.1 | % |  | 12.5 | % |  | 9.9 | % |  | 12.4 | %
Combined ratio | 96.7 | % |  | 94.2 | % |  | 27.1 | % |  | 84.3 | % |  | 106.8 | % |  | 85.2 | %
Goodwill and intangible assets | $ | 256,434 |  |  | $ | 183,523 |  |  | $ | 505,026 |  |  | $ | 944,983 |  |  | $ | — |  |  | $ | 944,983 |
Total investable assets |  |  |  |  |  |  | $ | 27,442,153 |  |  | $ | — |  |  | $ | 27,442,153 |
Total assets |  |  |  |  |  |  | 45,100,945 |  |  | — |  |  | 45,100,945 |
Total liabilities |  |  |  |  |  |  | 31,545,816 |  |  | — |  |  | 31,545,816 |
(1) Certain amounts included in the gross premiums written of each segment are related to intersegment transactions. Accordingly, the sum of gross premiums written for each segment does not agree to the total gross premiums written as shown in the table above due to the elimination of intersegment transactions in the total.
| Year Ended December 31, 2020
| Insurance |  | Reinsurance |  | Mortgage |  | Sub-Total |  | Other |  | Total
Gross premiums written (1) | $ | 4,688,562 |  |  | $ | 3,472,086 |  |  | $ | 1,473,999 |  |  | $ | 9,632,691 |  |  | $ | 728,546 |  |  | $ | 10,088,068 |
Premiums ceded | (1,525,655) |  |  | (1,014,716) |  |  | (194,149) |  |  | (2,732,564) |  |  | (190,957) |  |  | (2,650,352) |
Net premiums written | 3,162,907 |  |  | 2,457,370 |  |  | 1,279,850 |  |  | 6,900,127 |  |  | 537,589 |  |  | 7,437,716 |
Change in unearned premiums | (291,487) |  |  | (295,141) |  |  | 118,085 |  |  | (468,543) |  |  | 22,762 |  |  | (445,781) |
Net premiums earned | 2,871,420 |  |  | 2,162,229 |  |  | 1,397,935 |  |  | 6,431,584 |  |  | 560,351 |  |  | 6,991,935 |
Other underwriting income | (31) |  |  | 4,454 |  |  | 20,316 |  |  | 24,739 |  |  | 2,045 |  |  | 26,784 |
Losses and loss adjustment expenses | (2,092,453) |  |  | (1,628,320) |  |  | (528,344) |  |  | (4,249,117) |  |  | (440,482) |  |  | (4,689,599) |
Acquisition expenses, net | (418,483) |  |  | (354,048) |  |  | (134,240) |  |  | (906,771) |  |  | (98,071) |  |  | (1,004,842) |
Other operating expenses | (489,153) |  |  | (168,011) |  |  | (162,202) |  |  | (819,366) |  |  | (55,810) |  |  | (875,176) |
Underwriting income (loss) | $ | (128,700) |  |  | $ | 16,304 |  |  | $ | 593,465 |  |  | 481,069 |  |  | (31,967) |  |  | 449,102 |
Net investment income |  |  |  |  |  |  | 401,908 |  |  | 117,700 |  |  | 519,608 |
Net realized gains (losses) |  |  |  |  |  |  | 813,781 |  |  | 9,679 |  |  | 823,460 |
Equity in net income (loss) of investments accounted for using the equity method |  |  |  |  |  |  | 146,693 |  |  | — |  |  | 146,693 |
Other income (loss) |  |  |  |  |  |  | 29 |  |  | — |  |  | 29 |
Corporate expenses |  |  |  |  |  |  | (68,492) |  |  | — |  |  | (68,492) |
Transaction costs and other |  |  |  |  |  |  | (9,456) |  |  | (4,040) |  |  | (13,496) |
Amortization of intangible assets |  |  |  |  |  |  | (69,031) |  |  | — |  |  | (69,031) |
Interest expense |  |  |  |  |  |  | (120,214) |  |  | (23,242) |  |  | (143,456) |
Net foreign exchange gains (losses) |  |  |  |  |  |  | (80,161) |  |  | (3,473) |  |  | (83,634) |
Income (loss) before income taxes and income (loss) from operating affiliates |  |  |  |  |  |  | 1,496,126 |  |  | 64,657 |  |  | 1,560,783 |
Income tax expense |  |  |  |  |  |  | (111,812) |  |  | (26) |  |  | (111,838) |
Income (loss) from operating affiliates |  |  |  |  |  |  | 16,766 |  |  | — |  |  | 16,766 |
Net income |  |  |  |  |  |  | 1,401,080 |  |  | 64,631 |  |  | 1,465,711 |
Amounts attributable to redeemable noncontrolling interests |  |  |  |  |  |  | (2,997) |  |  | (4,117) |  |  | (7,114) |
Amounts attributable to nonredeemable noncontrolling interests |  |  |  |  |  |  | — |  |  | (53,076) |  |  | (53,076) |
Net income (loss) available to Arch |  |  |  |  |  |  | 1,398,083 |  |  | 7,438 |  |  | 1,405,521 |
Preferred dividends |  |  |  |  |  |  | (41,612) |  |  | — |  |  | (41,612) |
Net income (loss) available to Arch common shareholders |  |  |  |  |  |  | $ | 1,356,471 |  |  | $ | 7,438 |  |  | $ | 1,363,909 |
Underwriting Ratios |  |  |  |  |  |  |  |  |  |  |
Loss ratio | 72.9 | % |  | 75.3 | % |  | 37.8 | % |  | 66.1 | % |  | 78.6 | % |  | 67.1 | %
Acquisition expense ratio | 14.6 | % |  | 16.4 | % |  | 9.6 | % |  | 14.1 | % |  | 17.5 | % |  | 14.4 | %
Other operating expense ratio | 17.0 | % |  | 7.8 | % |  | 11.6 | % |  | 12.7 | % |  | 10.0 | % |  | 12.5 | %
Combined ratio | 104.5 | % |  | 99.5 | % |  | 59.0 | % |  | 92.9 | % |  | 106.1 | % |  | 94.0 | %
Goodwill and intangible assets | $ | 280,978 |  |  | $ | 18,963 |  |  | $ | 385,272 |  |  | $ | 685,213 |  |  | $ | 7,650 |  |  | $ | 692,863 |
Total investable assets |  |  |  |  |  |  | $ | 26,856,295 |  |  | $ | 2,657,612 |  |  | $ | 29,513,907 |
Total assets |  |  |  |  |  |  | 39,791,983 |  |  | 3,490,314 |  |  | 43,282,297 |
Total liabilities |  |  |  |  |  |  | 26,789,149 |  |  | 2,505,707 |  |  | 29,294,856 |
(1) Certain amounts included in the gross premiums written of each segment are related to intersegment transactions. Accordingly, the sum of gross premiums written for each segment does not agree to the total gross premiums written as shown in the table above due to the elimination of intersegment transactions in the total. The following tables provide summary information regarding net premiums earned by major line of business and net premiums written by underwriting location:
INSURANCE SEGMENT | Year Ended December 31,
2022 |  | 2021 |  | 2020
Net premiums earned (1) |  |  |  |  |
Professional lines | $ | 1,314,236 |  |  | $ | 942,817 |  |  | $ | 655,872 |
Property, energy, marine and aviation | 772,388 |  | 667,892 |  | 506,182
Programs | 589,860 |  | 506,867 |  | 432,854
Travel, accident and health | 491,847 |  | 255,590 |  | 190,944
Construction and national accounts | 432,020 |  | 416,107 |  | 398,999
Excess and surplus casualty | 393,353 |  | 318,027 |  | 270,620
Warranty and lenders solutions | 127,222 |  | 153,958 |  | 114,687
Other | 438,409 |  | 365,210 |  | 301,262
Total | $ | 4,559,335 |  |  | $ | 3,626,468 |  |  | $ | 2,871,420 |
Net premiums written by underwriting location (1) |  |  |  |  |
United States | $ | 3,340,038 |  |  | $ | 2,813,039 |  |  | $ | 2,158,415 |
Europe | 1,405,719 |  | 1,125,192 |  | 856,572
Other | 274,885 |  |  | 209,962 |  |  | 147,920 |
Total | $ | 5,020,642 |  |  | $ | 4,148,193 |  |  | $ | 3,162,907 |
REINSURANCE SEGMENT | Year Ended December 31,
2022 |  | 2021 |  | 2020
Net premiums earned (1) |  |  |  |  |
Other specialty | $ | 1,377,880 |  |  | $ | 818,801 |  |  | $ | 626,409 |
Property excluding property catastrophe | 1,091,440 |  | 836,573 |  | 562,208
Casualty | 854,543 |  | 666,754 |  | 549,056
Property catastrophe | 366,991 |  | 280,738 |  | 237,736
Marine and aviation | 159,401 |  | 152,955 |  | 109,624
Other | 109,126 |  | 84,622 |  | 77,196
Total | $ | 3,959,381 |  |  | $ | 2,840,443 |  |  | $ | 2,162,229 |
Net premiums written by underwriting location (1) |  |  |  |  |
United States | $ | 1,246,507 |  |  | $ | 828,504 |  |  | $ | 687,622 |
Bermuda | 2,561,771 |  | 1,557,294 |  | 1,001,990 |
Europe and other | 1,115,698 |  | 868,576 |  | 767,758 |
Total | $ | 4,923,976 |  |  | $ | 3,254,374 |  |  | $ | 2,457,370 |
MORTGAGE SEGMENT | Year Ended December 31,
2022 |  | 2021 |  | 2020
Net premiums earned by underwriting location |  |  |  |  |
United States | $ | 815,519 |  |  | $ | 970,507 |  |  | $ | 1,158,563 |
Other | 343,842 |  |  | 312,912 |  |  | 239,372 |
Total | $ | 1,159,361 |  |  | $ | 1,283,419 |  |  | $ | 1,397,935 |
Net premiums written by underwriting location |  |  |  |  |
United States | $ | 780,256 |  |  | $ | 914,477 |  |  | $ | 1,021,950 |
Other | 352,315 |  |  | 346,591 |  |  | 257,900 |
Total | $ | 1,132,571 |  |  | $ | 1,261,068 |  |  | $ | 1,279,850 |
(1) Segment results include premiums assumed through intersegment transactions and exclude premiums ceded through intersegment transactions.
OTHER SEGMENT | Year Ended December 31,
2022 |  | 2021 |  | 2020
Net premiums earned (1) |  |  |  |  |
Casualty | $ | — |  |  | $ | 138,551 |  |  | $ | 245,272 |
Other specialty | — |  |  | 118,356 |  |  | 186,717 |
Property catastrophe | — |  |  | 15,235 |  |  | 23,037 |
Property excluding property catastrophe | — |  |  | 6,578 |  |  | 1,130 |
Marine and aviation | — |  |  | 190 |  |  | 429 |
Other | — |  |  | 53,058 |  |  | 103,766 |
Total | $ | — |  |  | $ | 331,968 |  |  | $ | 560,351 |
Net premiums written by underwriting location (1) |  |  |  |  |
United States | $ | — |  |  | $ | 63,403 |  |  | $ | 115,471 |
Europe | — |  |  | 91,499 |  |  | 97,753 |
Bermuda | — |  |  | 199,800 |  |  | 324,365 |
Total | $ | — |  |  | $ | 354,702 |  |  | $ | 537,589 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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