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RESERVE FOR LOSSES AND LAE - Schedule of Activity in the Reserve for Losses and LAE (Details) - USD ($) $ in Millions | 6 Months Ended |  |
--- | --- | --- | ---
Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward] |  |  |  |
Gross reserves beginning of period | $ 24,604 | $ 22,065 |  |
Less reinsurance recoverables on unpaid losses | (2,151) | (2,175) | $ (2,098) | $ (2,105)
Net reserves beginning of period | 22,506 | 19,960 |  |
Incurred related to: |  |  |  |
Current year | 4,548 | 3,927 |  |
Prior years | 0 | 0 |  |
Total incurred losses and LAE | 4,548 | 3,927 |  |
Paid related to: |  |  |  |
Current year | 1,068 | 1,307 |  |
Prior years | 2,145 | 1,515 |  |
Total paid losses and LAE | 3,213 | 2,822 |  |
Foreign exchange/translation adjustment | (139) | 165 |  |
Net reserves end of period | 23,702 | 21,229 |  |
Plus reinsurance recoverables on unpaid losses | 2,151 | 2,175 | $ 2,098 | $ 2,105
Gross reserves end of period | $ 25,853 | $ 23,405 |  |

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