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Reserve for Losses and Loss Adjustment Expenses - Reconciliation of beginning and ending balances of losses and loss adjustment reserves (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract] |  |  |  |  |
Reserve for losses and loss adjustment expenses at beginning of period |  | $ 24,466 | $ 21,268 | $ 22,752 | $ 20,032
Unpaid losses and loss adjustment expenses recoverable |  | 7,083 | 6,394 | 6,690 | 6,280
Net reserve for losses and loss adjustment expenses at beginning of period |  | 17,383 | 14,874 | 16,062 | 13,752
Net incurred losses and loss adjustment expenses relating to losses occurring in: |  |  |  |  |
Current year |  | 2,524 | 1,793 | 6,324 | 5,012
Prior years |  | (121) | (146) | (366) | (403)
Total net incurred losses and loss adjustment expenses |  | 2,403 | 1,647 | 5,958 | 4,609
Net losses and loss adjustment expense reserves of acquired business | [1] | 2,413 | 0 | 2,463 | 0
Net foreign exchange (gains) losses and other |  | 246 | (123) | 152 | (24)
Net paid losses and loss adjustment expenses relating to losses occurring in: |  |  |  |  |
Current year |  | (362) | (345) | (647) | (700)
Prior years |  | (967) | (713) | (2,872) | (2,297)
Total net paid losses and loss adjustment expenses |  | (1,329) | (1,058) | (3,519) | (2,997)
Net reserve for losses and loss adjustment expenses at end of period |  | 21,116 | 15,340 | 21,116 | 15,340
Unpaid losses and loss adjustment expenses recoverable |  | 7,563 | 6,496 | 7,563 | 6,496
Reserve for losses and loss adjustment expenses at end of period |  | $ 28,679 | $ 21,836 | $ 28,679 | $ 21,836
[1] | Activity for the 2024 third quarter related to the acquisition of MCE (see note 2) and Watford Insurance Company (see note 16), while activity for the nine months ended September 30, 2024 also reflects the Company’s acquisition of RMIC Companies, Inc. and its wholly-owned subsidiaries (“RMIC”) that, together, comprise the run-off mortgage insurance business of Old Republic International Corporation

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- Definition The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-7 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 9E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-9E Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (cc) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(13)(a)(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 + Details
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- Definition Amount of increase (decrease) in the cost of settling unpaid claims after deduction of reinsurance recoveries related to the acquisition of a business. Includes, but is not limited to, claims which have been incurred but not reported. + References No definition available. + Details
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- Definition Amount of foreign currency gain (loss) which decreases (increases) the cost of settling unpaid claims after deduction of reinsurance recoveries. Includes, but is not limited to, claims which have been incurred but not reported. + References No definition available. + Details
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- Definition Amount, after effects of reinsurance, of expense (reversal of expense) for claims incurred and costs incurred in the claim settlement process. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-7 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 + Details
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- Definition Liability as of the balance sheet date for amounts representing estimated cost of settling unpaid claims under the terms of the underlying insurance policies, less estimated reinsurance recoveries on such claims. This includes an estimate for claims which have been incurred but not reported. Claim adjustment expenses represent the costs estimated to be incurred in the settlement of unpaid claims. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(13)(a)(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (cc) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 + Details
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