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Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2024
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The following table summarizes the Company’s allocation of the purchase price to the acquired assets and liabilities assumed based on estimated fair values on August 1, 2024. The fair value of the assets and liabilities are preliminary and may change with offsetting adjustments to goodwill. The Company may make further adjustments to its purchase price allocation through the end of the permissible one-year measurement period.
|  | Total |  | Useful Life
Purchase price |  |  |
| Cash paid (a) | $ | 450 |  |  |
Assets Acquired |  |  |
| Cash and investments, at fair value | $ | 2,332 |  |  |
| Premiums receivable | 290 |  |
| Intangible asset -- distribution relationships | 220 |  | 10 years
| Intangible asset -- value of business acquired | 163 |  | 1-2 years
| Intangible asset -- other (1) | 178 |  | 5-7 years
| Other assets acquired | 158 |  |
| Total assets acquired | $ | 3,341 |  |  |
Liabilities Acquired |  |  |
| Reserves for losses and loss adjustment expenses | $ | 2,404 |  |  |
| Unearned premiums | 632 |  |
| Other liabilities acquired | 121 |  |
| Total liabilities acquired | 3,157 |  |  |
| Identifiable net assets acquired (b) | $ | 184 |  |  |
Goodwill (a) - (b) | $ | 266 |  |  |
(1) Includes $128 million related to the net fair value adjustment to reserves for loss and loss adjustment expenses on August 1, 2024.

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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