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RESERVE FOR LOSSES AND LAE - Schedule of Activity in the Reserve for Losses and LAE (Details) - USD ($) $ in Millions | 3 Months Ended |  |
--- | --- | --- | ---
Mar. 31, 2025 | Mar. 31, 2024 | Dec. 31, 2024 | Dec. 31, 2023
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward] |  |  |  |
Gross reserves beginning of period | $ 29,889 | $ 24,604 |  |
Less reinsurance recoverables on unpaid losses | (3,175) | (2,084) | $ (2,915) | $ (2,098)
Net reserves beginning of period | 26,975 | 22,506 |  |
Incurred related to: |  |  |  |
Current year | 2,893 | 2,237 |  |
Prior years | 0 | 0 |  |
Total incurred losses and LAE | 2,893 | 2,237 |  |
Paid related to: |  |  |  |
Current year | 410 | 319 |  |
Prior years | 1,346 | 1,183 |  |
Total paid losses and LAE | 1,755 | 1,502 |  |
Foreign exchange/translation adjustment | 224 | (114) |  |
Net reserves end of period | 28,337 | 23,127 |  |
Plus reinsurance recoverables on unpaid losses | 3,175 | 2,084 | $ 2,915 | $ 2,098
Gross reserves end of period | $ 31,512 | $ 25,211 |  |

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