XML 41 R30.htm IDEA: XBRL DOCUMENT v3.24.3

SEGMENT REPORTING (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of Underwriting Results for Segments

The following tables present the underwriting results for the operating segments for the periods indicated:

			Three Months Ended September 30, 2024																		Nine Months Ended September 30, 2024
(Dollars in millions)			Reinsurance						Insurance						Total						Reinsurance						Insurance						Total
Gross written premiums			$	3,265					$	1,160					$	4,425					$	9,650					$	3,911					$	13,561
Net written premiums			2,975						830						3,805						8,950						2,839						11,789
Premiums earned			$	2,970					$	948					$	3,918					$	8,429					$	2,833					$	11,262
Incurred losses and LAE			1,942						642						2,584						5,267						1,865						7,132
Commission and brokerage			710						116						826						2,054						344						2,398
Other underwriting expenses			73						163						236						215						478						694
Underwriting gain (loss)			$	245					$	27					$	272					$	893					$	145					$	1,039
Net investment income															496																		1,481
Net gains (losses) on investments															(27)																		(50)
Corporate expenses															(25)																		(69)
Interest, fee and bond issue cost amortization expense															(38)																		(112)
Other income (expense)															(102)																		(48)
Income (loss) before taxes															$	577																	$	2,241

(Some amounts may not reconcile due to rounding.)

			Three Months Ended September 30, 2023																		Nine Months Ended September 30, 2023
(Dollars in millions)			Reinsurance						Insurance						Total						Reinsurance						Insurance						Total
Gross written premiums			$	3,198					$	1,193					$	4,391					$	8,566					$	3,748					$	12,314
Net written premiums			2,989						878						3,866						8,048						2,822						10,870
Premiums earned			$	2,593					$	920					$	3,513					$	7,183					$	2,682					$	9,865
Incurred losses and LAE			1,653						593						2,246						4,443						1,730						6,173
Commission and brokerage			643						108						752						1,778						320						2,099
Other underwriting expenses			65						151						215						189						431						620
Underwriting gain (loss)			$	232					$	69					$	301					$	772					$	202					$	974
Net investment income															406																		1,023
Net gains (losses) on investments															(31)																		(21)
Corporate expenses															(19)																		(55)
Interest, fee and bond issue cost amortization expense															(34)																		(99)
Other income (expense)															103																		61
Income (loss) before taxes															$	725																	$	1,883

(Some amounts may not reconcile due to rounding.)

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

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

X

- References

No definition available.

+ Details

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