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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUES:        
Premiums earned $ 3,513 $ 3,067 $ 9,865 $ 8,775
Net investment income 406 151 1,023 620
Total net gains (losses) on investments (31) (129) (21) (519)
Other income (expense) 103 (16) 61 (71)
Total revenues 3,991 3,073 10,927 8,805
CLAIMS AND EXPENSES:        
Incurred losses and loss adjustment expenses 2,246 2,623 6,173 6,289
Commission, brokerage, taxes and fees 752 641 2,099 1,877
Other underwriting expenses 215 169 620 500
Corporate expenses 19 16 55 45
Interest, fees and bond issue cost amortization expense 34 25 99 74
Total claims and expenses 3,266 3,474 9,045 8,785
INCOME (LOSS) BEFORE TAXES 725 (401) 1,883 20
Income tax expense (benefit) 47 (82) 169 (81)
NET INCOME (LOSS) 678 (319) 1,713 101
Other comprehensive income (loss), net of tax:        
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period (257) (712) (180) (2,260)
Reclassification adjustment for realized losses (gains) included in net income (loss) 15 41 21 61
Total URA(D) on securities arising during the period (242) (671) (159) (2,199)
Foreign currency translation adjustments (47) (101) (17) (163)
Reclassification adjustment for amortization of net (gain) loss included in net income (loss) 0 1 1 2
Total benefit plan net gain (loss) for the period 0 1 1 2
Total other comprehensive income (loss), net of tax (288) (771) (175) (2,360)
COMPREHENSIVE INCOME (LOSS) $ 390 $ (1,090) $ 1,538 $ (2,259)
EARNINGS PER COMMON SHARE:        
Basic (in dollars per share) $ 15.63 $ (8.22) $ 41.49 $ 2.57
Diluted (in dollars per share) $ 15.63 $ (8.22) $ 41.49 $ 2.57