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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUES:        
Premiums earned $ 3,918 $ 3,513 $ 11,262 $ 9,865
Net investment income 496 406 1,481 1,023
Net gains (losses) on investments (27) (31) (50) (21)
Other income (expense) (102) 103 (48) 61
Total revenues 4,285 3,991 12,645 10,927
CLAIMS AND EXPENSES:        
Incurred losses and loss adjustment expenses 2,584 2,246 7,132 6,173
Commission, brokerage, taxes and fees 826 752 2,398 2,099
Other underwriting expenses 236 215 694 620
Corporate expenses 25 19 69 55
Interest, fees and bond issue cost amortization expense 38 34 112 99
Total claims and expenses 3,708 3,266 10,404 9,045
INCOME (LOSS) BEFORE TAXES 577 725 2,241 1,883
Income tax expense (benefit) 68 47 275 169
NET INCOME (LOSS) 509 678 1,966 1,713
Other comprehensive income (loss), net of tax:        
Unrealized appreciation (depreciation) ("URA(D)") of securities arising during the period 704 (257) 477 (180)
Reclassification adjustment for realized losses (gains) included in net income (loss) 30 15 44 21
Total URA(D) of securities arising during the period 734 (242) 521 (159)
Foreign currency translation and other adjustments 83 (47) 45 (17)
Reclassification adjustment for amortization of net (gain) loss included in net income (loss) 0 0 24 1
Total benefit plan net gain (loss) for the period 0 0 24 1
Total other comprehensive income (loss), net of tax 816 (288) 590 (175)
COMPREHENSIVE INCOME (LOSS) $ 1,325 $ 390 $ 2,556 $ 1,538
EARNINGS PER COMMON SHARE:        
Basic (in dollars per share) $ 11.80 $ 15.63 $ 45.40 $ 41.49
Diluted (in dollars per share) $ 11.80 $ 15.63 $ 45.40 $ 41.49