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ACQUISITION OF VALIDUS - Schedule of Fair Value of Net Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Nov. 01, 2023 | May 22, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020
--- | --- | --- | --- | --- | --- | ---
Liabilities: |  |  |  |  |  |
Net fair value adjustment |  |  | $ 15,142,583 | $ 11,181,648 | $ 9,025,961 | $ 7,455,128
Validus |  |  |  |  |  |
Assets: |  |  |  |  |  |
Cash and cash equivalents | $ 301,253 |  |  |  |  |
Investments trading | 3,248,242 |  |  |  |  |
Short term investments | 1,659,902 |  |  |  |  |
Investments in other ventures, under equity method | 3,997 |  |  |  |  |
Reinsurance premiums receivable | 2,014,359 |  |  |  |  |
Prepaid reinsurance premiums | 126,750 |  |  |  |  |
Losses recoverable | 1,297,270 |  |  |  |  |
Accrued investment income | 21,441 |  |  |  |  |
Deferred acquisition costs and value of business acquired | 617,000 |  |  |  |  |
Other assets | 70,557 |  |  |  |  |
Identifiable intangible assets | 460,884 |  | $ 453,066 |  |  |
Total assets | 9,821,655 |  |  |  |  |
Liabilities: |  |  |  |  |  |
Reserve for claims and claim expenses | 4,628,952 |  |  |  |  |
Reserve for unearned premiums | 1,804,029 |  |  |  |  |
Reinsurance balances payable | 298,003 |  |  |  |  |
Accounts payable and accrued liabilities | 120,994 |  |  |  |  |
Deferred tax liability | 39,157 |  |  |  |  |
Total liabilities | 6,891,135 |  |  |  |  |
Total identifiable net assets acquired | 2,930,520 |  |  |  |  |
Total purchase price | 3,020,168 | $ 2,985,000 |  |  |  |
Goodwill | 89,648 |  |  |  |  |
Net fair value adjustment | 192,000 |  |  |  |  |
Decrease to losses recoverable | 76,800 |  |  |  |  |
Decrease to reserve for claims and claim expense | $ 268,900 |  |  |  |  |

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