XML 58 R40.htm IDEA: XBRL DOCUMENT v3.24.0.1
Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2023
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]  
Schedule of Effect of Reinsurance and Retrocessional Activity on Premiums Written and Earned and on Net Claims and Claim Expenses Incurred
The following table sets forth the effect of reinsurance and retrocessional activity on premiums written and earned and on net claims and claim expenses incurred:
Year ended December 31,202320222021
Premiums Written
Direct$865,771 $1,264,410 $994,286 
Assumed7,996,595 7,949,130 6,839,512 
Ceded(1,394,553)(2,017,380)(1,894,423)
Net premiums written$7,467,813 $7,196,160 $5,939,375 
Premiums Earned
Direct$1,013,372 $1,105,164 $799,717 
Assumed8,072,193 7,079,632 6,257,814 
Ceded(1,614,432)(1,850,807)(1,863,350)
Net premiums earned$7,471,133 $6,333,989 $5,194,181 
Claims and Claim Expenses
Gross claims and claim expenses incurred$3,950,362 $5,851,140 $5,905,616 
Claims and claim expenses recovered(376,853)(1,512,300)(2,029,529)
Net claims and claim expenses incurred$3,573,509 $4,338,840 $3,876,087 
Schedule of Activity in the Allowance Recorded Against Premium Receivables The following table provides a roll forward of the provision for current expected credit losses of the Company’s premiums receivable:
Year ended December 31,20232022
Beginning balance$4,606 $2,776 
Provision for (release of) allowance
(2,788)1,830 
Acquired (1)
1,696 — 
Ending balance$3,514 $4,606 
(1)Represents Validus’ provision for current expected credit losses on premiums receivable, acquired November 1, 2023.
Schedule of Activity in the Allowance Recorded Against Reinsurance Recoverables The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable:
Year ended December 31,20232022
Beginning balance$12,169 $8,344 
Provision for (release of) allowance
(3,644)3,825 
Acquired (1)
4,754 — 
Ending balance$13,279 $12,169 
(1)Represents Validus’ provision for current expected credit losses on reinsurance recoverable, acquired November 1, 2023.