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v3.25.1

Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2025
Business Combination [Abstract] |
Allocation of purchase price to acquired assets and liabilities | 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, net of commissions | 230 |  |
| Intangible asset -- distribution relationships | 220 |  | 10 years
| Intangible asset -- value of business acquired | 165 |  | 1-2 years
| Intangible asset -- other (1) | 178 |  | 5-7 years
| Other assets acquired | 167 |  |
| Total assets acquired | $ | 3,292 |  |  |
Liabilities Acquired |  |  |
| Reserves for losses and loss adjustment expenses | $ | 2,418 |  |  |
| Unearned premiums | 636 |  |
| Other liabilities acquired | 34 |  |
| Total liabilities acquired | 3,088 |  |  |
| Identifiable net assets acquired (b) | $ | 204 |  |  |
Goodwill (a) - (b) | $ | 246 |  |  |
(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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