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SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Underwriting Results for Segments

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

			Three Months Ended March 31, 2025
(Dollars in millions)			Reinsurance						Insurance						Other						Total
Gross written premiums			$	3,219					$	1,145					$	28					$	4,391
Net written premiums			2,811						896						27						3,735
Premiums earned			$	2,905					$	913					$	33					$	3,852
Incurred losses and LAE			2,223						640						30						2,893
Commission and brokerage			707						113						4						824
Other underwriting expenses			71						165						2						238
Underwriting gain (loss)			$	(96)					$	(5)					$	(3)					$	(104)
Net investment income																					491
Net gains (losses) on investments																					(7)
Corporate expenses																					(21)
Interest, fee and bond issue cost amortization expense																					(38)
Other income (expense)																					(73)
Income (loss) before taxes																					$	248

(Some amounts may not reconcile due to rounding.)

			Three Months Ended March 31, 2024
(Dollars in millions)			Reinsurance						Insurance						Other						Total
Gross written premiums			$	3,175					$	1,160					$	77					$	4,411
Net written premiums			2,942						897						61						3,900
Premiums earned			$	2,728					$	871					$	52					$	3,652
Incurred losses and LAE			1,640						551						46						2,237
Commission and brokerage			671						104						7						782
Other underwriting expenses			71						145						8						224
Underwriting gain (loss)			$	347					$	71					$	(8)					$	409
Net investment income																					457
Net gains (losses) on investments																					(7)
Corporate expenses																					(22)
Interest, fee and bond issue cost amortization expense																					(37)
Other income (expense)																					31
Income (loss) before taxes																					$	832

(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

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X

- References

No definition available.

+ Details

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