XML 62 R52.htm IDEA: XBRL DOCUMENT v3.23.3
SEGMENT REPORTING - Schedule of Underwriting Results for Operating Segments (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Segment Reporting Information [Line Items]        
Gross written premiums $ 4,391 $ 3,680 $ 12,314 $ 10,313
Net written premiums 3,866 3,323 10,870 9,156
Premiums earned 3,513 3,067 9,865 8,775
Incurred losses and LAE 2,246 2,623 6,173 6,289
Commission and brokerage 752 641 2,099 1,877
Other underwriting expenses 215 169 620 500
Underwriting gain (loss) 301 (367) 974 109
Net investment income 406 151 1,023 620
Total net gains (losses) on investments (31) (129) (21) (519)
Corporate expenses (19) (16) (55) (45)
Interest, fee and bond issue cost amortization expense (34) (25) (99) (74)
Other income (expense) 103 (16) 61 (71)
INCOME (LOSS) BEFORE TAXES 725 (401) 1,883 20
Reinsurance        
Segment Reporting Information [Line Items]        
Gross written premiums 3,219 2,551 8,622 6,938
Net written premiums 3,008 2,460 8,101 6,664
Premiums earned 2,612 2,245 7,236 6,451
Incurred losses and LAE 1,665 1,992 4,477 4,699
Commission and brokerage 648 537 1,791 1,582
Other underwriting expenses 65 54 190 156
Underwriting gain (loss) 234 (338) 778 14
Insurance        
Segment Reporting Information [Line Items]        
Gross written premiums 1,172 1,129 3,692 3,376
Net written premiums 858 862 2,768 2,492
Premiums earned 901 822 2,629 2,324
Incurred losses and LAE 581 631 1,696 1,591
Commission and brokerage 104 104 307 295
Other underwriting expenses 150 115 430 344
Underwriting gain (loss) $ 66 $ (29) $ 196 $ 95