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CREDIT FACILITIES (Tables)

9 Months Ended

Sep. 30, 2023

Line of Credit Facility [Abstract]

Summary of Outstanding Letters of Credit and Borrowings

The following table summarizes the outstanding letters of credit for the periods indicated:

(Dollars in millions)						At September 30, 2023																		At December 31, 2022
Bank						Commitment						In Use						Date of Expiry						Commitment						In Use						Date of Expiry
Wells Fargo Bank Bilateral LOC Agreement						$	500					$	266					12/29/2023						$	500					$	463					12/29/2023
												121						12/31/2023												—
												23						6/28/2024												—
												24						12/31/2024												—
						$	500					$	434											$	500					$	463

(Some amounts may not reconcile due to rounding.)

The following table summarizes the outstanding letters of credit for the periods indicated:

(Dollars in millions)						At September 30, 2023																		At December 31, 2022
Bank						Commitment						In Use						Date of Expiry						Commitment						In Use						Date of Expiry
Bermuda Re Citibank LOC Facility- Committed						$	230					$	209					12/31/2023						$	230					$	1					1/1/2023
												—						1/21/2024												4						2/28/2023
												4						2/29/2024												1						3/1/2023
												1						3/1/2024												1						8/15/2023
												3						9/23/2024												3						9/23/2023
												1						12/1/2024												212						12/31/2023
												6						12/31/2024												—
												1						8/15/2025												—
Bermuda Re Citibank LOC Facility - Uncommitted						140						105						12/31/2023						140						87						12/31/2023
												7						9/30/2027												18						12/30/2026
Total Citibank Bilateral Agreement						$	370					$	338											$	370					$	329

(Some amounts may not reconcile due to rounding.)

The following table summarizes the outstanding letters of credit for the periods indicated:

(Dollars in millions)

At September 30, 2023

At December 31, 2022

Bank

Commitment

In Use

Date of Expiry

Commitment

In Use

Date of Expiry

Bayerische Landesbank Bilateral Secured Credit Facility

$

200

$

179

12/31/2023

$

200

$

184

12/31/2023

(Some amounts may not reconcile due to rounding.)

The following table summarizes the outstanding letters of credit for the periods indicated:

(Dollars in millions)

At September 30, 2023

At December 31, 2022

Bank

Commitment

In Use

Date of Expiry

Commitment

In Use

Date of Expiry

Bayerische Landesbank Bilateral Unsecured LOC Agreement - Committed

$

150

$

150

12/31/2023

$

150

$

150

12/31/2023

(Some amounts may not reconcile due to rounding.)

The following table summarizes the outstanding letters of credit for the periods indicated:

(Dollars in millions)						At September 30, 2023																		At December 31, 2022
Bank						Commitment						In Use						Date of Expiry						Commitment						In Use						Date of Expiry
Bermuda Re Lloyd's Bank LOC Facility-Committed						$	250					$	158					12/31/2023						$	50					$	50					12/31/2023
												48						12/31/2024
Bermuda Re Lloyd's Bank LOC Facility-Uncommitted						—						—												200						136						12/31/2023
Total Bermuda Re Lloyd's Bank LOC Facility						$	250					$	206											$	250					$	186

(Some amounts may not reconcile due to rounding.)

The following table summarizes the outstanding letters of credit for the periods indicated:

(Dollars in millions)

At September 30, 2023

At December 31, 2022

Bank

Commitment

In Use

Date of Expiry

Commitment

In Use

Date of Expiry

Bermuda Re Barclays Bilateral Letter of Credit Facility

$

200

$

179

12/31/2023

$

200

$

179

12/31/2023

The following table summarizes the outstanding letters of credit for the periods indicated:

(Dollars in millions)						At September 30, 2023																		At December 31, 2022
Bank						Commitment						In Use						Date of Expiry						Commitment						In Use						Date of Expiry
Nordea Bank ABP, NY Unsecured LOC Facility - Committed						$	200					$	200					12/31/2023						$	200					$	50					12/31/2023
Nordea Bank ABP, NY Unsecured LOC Facility - Uncommitted						100						100						12/31/2023						100						100						12/31/2023
Total Nordea Bank ABP, NY LOC Facility						$	300					$	300											$	300					$	150

(Some amounts may not reconcile due to rounding.)

X

- References

No definition available.

+ Details

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Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

+ Details

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Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration