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REINSURANCE (Tables) | 12 Months Ended
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Dec. 31, 2023
Reinsurance Disclosures [Abstract] |
Schedule of Premiums Written and Earned and Incurred Losses and LAE | Premiums written and earned and incurred losses and LAE are comprised of the following for the periods indicated:
| Years Ended December 31,
(Dollars in millions) | 2023 |  | 2022 |  | 2021
Written premiums: |  |  |  |  |
Direct | $ | 5,031 |  |  | $ | 4,602 |  |  | $ | 3,988 |
Assumed | 11,606 |  |  | 9,350 |  |  | 9,062 |
Ceded | (1,907) |  |  | (1,608) |  |  | (1,604) |
Net written premiums | $ | 14,730 |  |  | $ | 12,344 |  |  | $ | 11,446 |
Premiums earned: |  |  |  |  |
Direct | $ | 4,733 |  |  | $ | 4,218 |  |  | $ | 3,589 |
Assumed | 10,518 |  |  | 9,082 |  |  | 8,315 |
Ceded | (1,807) |  |  | (1,513) |  |  | (1,498) |
Net premiums earned | $ | 13,443 |  |  | $ | 11,787 |  |  | $ | 10,406 |
Incurred losses and LAE: |  |  |  |  |
Direct | $ | 3,209 |  |  | $ | 2,804 |  |  | $ | 2,385 |
Assumed | 5,870 |  |  | 6,285 |  |  | 5,741 |
Ceded | (651) |  |  | (988) |  |  | (735) |
Net incurred losses and LAE | $ | 8,427 |  |  | $ | 8,100 |  |  | $ | 7,391 |

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- Definition Tabular disclosure of reinsurer or group of reinsurers for whom the entity has a concentration of credit risk. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 1B -SubTopic 825 -Topic 944 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479383/944-825-50-1B + Details
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