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SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Schedule of Underwriting Results for Operating Segments

The following tables present the underwriting results for the operating segments for the periods indicated:

			Three Months Ended March 31, 2023
(Dollars in millions)			Reinsurance						Insurance						Total
Gross written premiums			$	2,637					$	1,106					$	3,743
Net written premiums			2,454						875						3,329
Premiums earned			$	2,242					$	858					$	3,100
Incurred losses and LAE			1,411						555						1,966
Commission and brokerage			560						101						661
Other underwriting expenses			63						136						200
Underwriting gain (loss)			$	207					$	66					$	273
Net investment income															260
Net gains (losses) on investments															5
Corporate expenses															(19)
Interest, fee and bond issue cost amortization expense															(32)
Other income (expense)															(79)
Income (loss) before taxes															$	408

(Some amounts may not reconcile due to rounding.)

			Three Months Ended March 31, 2022
(Dollars in millions)			Reinsurance						Insurance						Total
Gross written premiums			$	2,186					$	1,001					$	3,186
Net written premiums			2,081						731						2,812
Premiums earned			$	2,066					$	726					$	2,792
Incurred losses and LAE			1,325						465						1,790
Commission and brokerage			514						91						605
Other underwriting expenses			50						111						161
Underwriting gain (loss)			$	177					$	59					$	235
Net investment income															243
Net gains (losses) on investments															(154)
Corporate expenses															(14)
Interest, fee and bond issue cost amortization expense															(24)
Other income (expense)															15
Income (loss) before taxes															$	302

(Some amounts may not reconcile due to rounding.)

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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X

- References

No definition available.

+ Details

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