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INCOME TAXES - Schedule of Net Deferred Income Tax Assets/(Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Bermuda economic transition adjustment $ 536 $ 536
Loss reserves 313 270
Unearned premium reserves 152 143
Net unrealized investment losses 138 67
Depreciation 55 44
Unrealized foreign currency losses 35 15
Net operating loss carryforward 24 18
Lease liability 23 27
Foreign tax credits 16 0
Capital loss carryforward 14 0
Equity compensation 10 8
Investment impairments 10 12
Uncollectible reinsurance reserves 0 3
Net unrealized losses on benefit plans 0 4
Other assets 21 22
Total deferred tax assets 1,347 1,169
Deferred tax liabilities:    
Deferred acquisition costs 171 139
Net fair value income 74 74
Partnership investments 43 49
Right of use asset 19 23
Deferred investment income 12 0
Benefit plan asset 0 3
Other liabilities 13 11
Total deferred tax liabilities 332 299
Net deferred tax assets 1,015 870
Less:  Valuation allowance (25) (15)
Total net deferred tax assets/(liabilities) $ 990 $ 855