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SEGMENT REPORTING (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Underwriting Results for Segments

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

			Three Months Ended September 30, 2025																								Nine Months Ended September 30, 2025
(Dollars in millions)			Reinsurance						Insurance						Other						Total						Reinsurance						Insurance						Other						Total
Gross written premiums			$	3,206					$	1,147					$	22					$	4,375					$	9,668					$	3,706					$	72					$	13,446
Net written premiums			2,885						848						21						3,754						8,773						2,767						68						11,607
Premiums earned			$	2,892					$	939					$	24					$	3,855					$	8,835					$	2,772					$	92					$	11,698
Incurred losses and LAE			1,678						996						163						2,837						5,673						2,280						250						8,203
Commission and brokerage			764						121						6						890						2,223						355						16						2,595
Other underwriting expenses			74						178						5						258						221						518						11						750
Underwriting gain (loss)			$	376					$	(357)					$	(149)					$	(130)					$	717					$	(381)					$	(185)					$	151
Net investment income																					540																								1,563
Net gains (losses) on investments																					(47)																								(59)
Corporate expenses																					(27)																								(79)
Interest, fee and bond issue cost amortization expense																					(38)																								(114)
Other income (expense)																					(29)																								(129)
Income (loss) before taxes																					$	269																							$	1,332

(Some amounts may not reconcile due to rounding.)

			Three Months Ended September 30, 2024																								Nine Months Ended September 30, 2024
(Dollars in millions)			Reinsurance						Insurance						Other						Total						Reinsurance						Insurance						Other						Total
Gross written premiums			$	3,265					$	1,110					$	50					$	4,425					$	9,650					$	3,728					$	183					$	13,561
Net written premiums			2,975						789						41						3,805						8,950						2,694						145						11,789
Premiums earned			$	2,970					$	898					$	50					$	3,918					$	8,429					$	2,679					$	154					$	11,262
Incurred losses and LAE			1,942						605						37						2,584						5,266						1,744						122						7,132
Commission and brokerage			710						110						5						826						2,054						325						19						2,398
Other underwriting expenses			73						154						8						236						215						454						24						694
Underwriting gain (loss)			$	245					$	28					$	(1)					$	272					$	895					$	156					$	(11)					$	1,039
Net investment income																					496																								1,481
Net gains (losses) on investments																					(27)																								(50)
Corporate expenses																					(25)																								(69)
Interest, fee and bond issue cost amortization expense																					(38)																								(112)
Other income (expense)																					(102)																								(48)
Income (loss) before taxes																					$	577																							$	2,241

(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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