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SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Underwriting Results for Segments

The following tables present segment underwriting results for the periods indicated:

			Year Ended December 31, 2024
(Dollars in millions)			Reinsurance						Insurance						Other						Total
Gross written premiums			$	12,941					$	5,078					$	212					$	18,232
Net written premiums			11,969						3,678						167						15,814
Premiums earned			$	11,412					$	3,579					$	197					$	15,187
Incurred losses and LAE			7,103						3,622						580						11,305
Commission and brokerage			2,837						439						24						3,300
Other underwriting expenses			290						615						33						938
Underwriting gain (loss)			$	1,181					$	(1,097)					$	(440)					$	(356)
Net investment income																					1,954
Net gains (losses) on investments																					19
Corporate expenses																					(95)
Interest, fee and bond issue cost amortization expense																					(149)
Other income (expense)																					121
Income (loss) before taxes																					$	1,493

			Year Ended December 31, 2023
(Dollars in millions)			Reinsurance						Insurance			Other						Total
Gross written premiums			$	11,460					$	4,888		$	289					$	16,637
Net written premiums			10,802						3,704			225						14,730
Premiums earned			$	9,799					$	3,420		$	225					$	13,443
Incurred losses and LAE			5,690						2,471			266						8,427
Commission and brokerage			2,520						410			22						2,952
Other underwriting expenses			254						556			35						846
Underwriting gain (loss)			$	1,334					$	(18)		$	(98)					$	1,219
Net investment income																		1,434
Net gains (losses) on investments																		(276)
Corporate expenses																		(73)
Interest, fee and bond issue cost amortization expense																		(134)
Other income (expense)																		(14)
Income (loss) before taxes																		$	2,154

			Year Ended December 31, 2022
(Dollars in millions)			Reinsurance						Insurance						Other						Total
Gross written premiums			$	9,246					$	4,426					$	279					$	13,952
Net written premiums			8,917						3,223						204						12,344
Premiums earned			$	8,596					$	2,998					$	194					$	11,787
Incurred losses and LAE			5,962						2,040						98						8,100
Commission and brokerage			2,116						399						14						2,528
Other underwriting expenses			216						438						28						682
Underwriting gain (loss)			$	302					$	121					$	54					$	477
Net investment income																					830
Net gains (losses) on investments																					(455)
Corporate expenses																					(61)
Interest, fee and bond issue cost amortization expense																					(101)
Other income (expense)																					(102)
Income (loss) before taxes																					$	588

Schedule of Gross Written Premium by Geographic Region

The following table below presents gross written premiums by geographic region. Allocations have been made on the basis of location of risk.

			United States						Europe						All other
2024			57		%				25		%				18		%
2023			58		%				24		%				18		%
2022			63		%				22		%				15		%

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

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-Name Accounting Standards Codification
-Topic 280
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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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