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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUES:        
Premiums earned $ 3,991 $ 3,693 $ 7,843 $ 7,345
Net investment income 532 528 1,023 985
Net gains (losses) on investments (5) (17) (12) (24)
Other income (expense) (27) 23 (100) 54
Total revenues 4,491 4,227 8,754 8,360
CLAIMS AND EXPENSES:        
Incurred losses and loss adjustment expenses 2,472 2,311 5,366 4,548
Commission, brokerage, taxes and fees 880 790 1,704 1,571
Other underwriting expenses 254 234 492 458
Corporate expenses 31 22 52 44
Interest, fees and bond issue cost amortization expense 38 37 76 75
Total claims and expenses 3,676 3,395 7,690 6,696
INCOME (LOSS) BEFORE TAXES 815 832 1,064 1,664
Income tax expense (benefit) 135 108 173 207
NET INCOME (LOSS) 680 724 890 1,457
Other comprehensive income (loss), net of tax:        
Unrealized appreciation (depreciation) ("URA(D)") of securities arising during the period 301 (70) 585 (227)
Reclassification adjustment for realized losses (gains) included in net income (loss) 7 9 12 14
Total URA(D) of securities arising during the period 308 (60) 597 (213)
Foreign currency translation and other adjustments 164 0 228 (38)
Reclassification adjustment for amortization of net (gain) loss included in net income (loss) (8) 24 (8) 25
Total benefit plan net gain (loss) for the period (8) 24 (8) 25
Total other comprehensive income (loss), net of tax 465 (36) 817 (227)
COMPREHENSIVE INCOME (LOSS) $ 1,145 $ 688 $ 1,707 $ 1,230
EARNINGS PER COMMON SHARE:        
Basic (in dollars per share) $ 16.10 $ 16.70 $ 20.93 $ 33.57
Diluted (in dollars per share) $ 16.10 $ 16.70 $ 20.93 $ 33.57