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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net income $ 4,312 $ 4,442 $ 1,482
Adjustments to reconcile net income to net cash provided by operating activities:      
Net realized (gains) losses (185) 182 651
Equity in net (income) or loss of investments accounted for using the equity method and other income or loss (488) (215) 154
Amortization of intangible assets 235 95 106
Share-based compensation 133 93 88
Reserve for losses and loss adjustment expenses, net of unpaid losses and loss adjustment expenses recoverable      
Reserve for losses and loss adjustment expenses, net of unpaid losses and loss adjustment expenses recoverable 3,279 2,138 1,890
Unearned premiums, net of ceded unearned premiums 632 1,028 1,399
Premiums receivable (818) (981) (1,110)
Deferred acquisition costs (212) (235) (374)
Reinsurance balances payable 179 455 (36)
Deferred income tax assets, net (35) (1,161) (121)
Other items, net (359) (92) (313)
Net cash provided by operating activities 6,673 5,749 3,816
Investing Activities:      
Purchases of fixed maturity investments (31,290) (18,062) (16,390)
Purchases of equity securities (1,423) (456) (797)
Purchases of other investments (3,485) (2,171) (1,720)
Proceeds from sales of fixed maturity investments 26,245 14,105 11,844
Proceeds from sales of equity securities 1,101 288 1,554
Proceeds from sales, redemptions and maturities of other investments 1,858 768 1,220
Proceeds from redemptions and maturities of fixed maturity investments 2,036 781 715
Net settlements of derivative instruments (5) 50 (69)
Net (purchases) sales of short-term investments (269) (696) 467
Acquisitions, net of cash 852 0 0
Purchases of fixed assets (51) (52) (50)
Other (30) (23) 125
Net cash used for investing activities (4,461) (5,468) (3,101)
Financing Activities:      
Purchases of common shares under share repurchase program (24) 0 (586)
Proceeds from common shares issued, net 7 (2) 6
Third party investment in redeemable noncontrolling interests 0 (22) 0
Other (2) (5) (86)
Common dividends paid (1,866) 0 0
Preferred dividends paid (40) (40) (40)
Net Cash Provided by (Used in) Financing Activities (1,925) (69) (706)
Effects of exchange rate changes on foreign currency cash and restricted cash (25) 13 (50)
Increase (decrease) in cash and restricted cash 262 225 (41)
Cash and restricted cash, beginning of year 1,498 1,273 1,314
Cash and restricted cash, end of year 1,760 1,498 1,273
Supplemental cash flow information      
Income taxes paid (received) 378 267 255
Interest paid $ 127 $ 127 $ 128