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INVESTMENTS (Tables) | 3 Months Ended
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Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of Fair Value of Fixed Maturity Investments Trading and Equity Investments | The following table summarizes the fair value of fixed maturity investments trading:
|  | March 31, 2024 |  | December 31, 2023 |
| U.S. treasuries | $ | 9,793,911 |  |  | $ | 10,060,203 |  |
| Corporate (1) | 7,064,030 |  |  | 6,499,075 |  |
| Residential mortgage-backed | 1,616,444 |  |  | 1,420,362 |  |
| Asset-backed | 1,428,513 |  |  | 1,491,695 |  |
| Agencies | 594,522 |  |  | 489,117 |  |
| Non-U.S. government | 495,426 |  |  | 483,576 |  |
| Commercial mortgage-backed | 316,614 |  |  | 433,080 |  |
| Total fixed maturity investments trading | $ | 21,309,460 |  |  | $ | 20,877,108 |  |
(1)Corporate fixed maturity investments include non-U.S. government-backed corporate fixed maturity investments. The following table summarizes the fair value of equity investments:
|  | March 31, 2024 |  | December 31, 2023 |
| Financials | $ | 119,657 |  |  | $ | 106,542 |  |
| Consumer | 148 |  |  | 212 |  |
| Industrial, utilities and energy | 105 |  |  | — |  |
| Communications and technology | 82 |  |  | 12 |  |
| Total | $ | 119,992 |  |  | $ | 106,766 |  |
Schedule of Contractual Maturities of Fixed Maturity Investments | Contractual maturities of fixed maturity investments trading are described in the following table. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | March 31, 2024 |  | December 31, 2023 |  |  |  |  |  |  |  |  |
|  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value |  |  |  |  |  |  |  |  |
| Due in less than one year | $ | 561,262 |  |  | $ | 556,795 |  |  | $ | 587,720 |  |  | $ | 582,519 |  |  |  |  |  |  |  |  |  |
| Due after one through five years | 11,305,216 |  |  | 11,229,683 |  |  | 11,439,510 |  |  | 11,468,263 |  |  |  |  |  |  |  |  |  |
| Due after five through ten years | 5,921,030 |  |  | 5,863,512 |  |  | 5,182,667 |  |  | 5,188,716 |  |  |  |  |  |  |  |  |  |
| Due after ten years | 320,954 |  |  | 297,899 |  |  | 307,392 |  |  | 292,473 |  |  |  |  |  |  |  |  |  |
| Mortgage-backed | 1,985,128 |  |  | 1,933,058 |  |  | 1,864,520 |  |  | 1,853,442 |  |  |  |  |  |  |  |  |  |
| Asset-backed | 1,425,554 |  |  | 1,428,513 |  |  | 1,490,641 |  |  | 1,491,695 |  |  |  |  |  |  |  |  |  |
| Total | $ | 21,519,144 |  |  | $ | 21,309,460 |  |  | $ | 20,872,450 |  |  | $ | 20,877,108 |  |  |  |  |  |  |  |  |  |
Schedule of Components of Net Investment Income | The components of net investment income are as follows:
|  | Three months ended |  |  |
|  | March 31, 2024 |  | March 31, 2023 |  |  |  |  |
| Fixed maturity investments trading | $ | 257,289 |  |  | $ | 155,500 |  |  |  |  |  |
| Short term investments | 46,791 |  |  | 32,950 |  |  |  |  |  |
| Equity investments | 560 |  |  | 3,399 |  |  |  |  |  |
| Other investments |  |  |  |  |  |  |  |
| Catastrophe bonds | 58,249 |  |  | 38,831 |  |  |  |  |  |
| Other | 17,925 |  |  | 24,571 |  |  |  |  |  |
| Cash and cash equivalents | 14,722 |  |  | 4,264 |  |  |  |  |  |
|  | 395,536 |  |  | 259,515 |  |  |  |  |  |
| Investment expenses | (4,761) |  |  | (5,137) |  |  |  |  |  |
| Net investment income | $ | 390,775 |  |  | $ | 254,378 |  |  |  |  |  |
Schedule of Net Realized and Unrealized Gains (Losses) on Investments | Net realized and unrealized gains (losses) on investments are as follows:
|  | Three months ended |  |  |
|  | March 31, 2024 |  | March 31, 2023 |  |  |  |  |
| Net realized gains (losses) on fixed maturity investments trading | $ | 9,796 |  |  | $ | (104,765) |  |  |  |  |  |
| Net unrealized gains (losses) on fixed maturity investments trading | (211,996) |  |  | 312,026 |  |  |  |  |  |
| Net realized and unrealized gains (losses) on fixed maturity investments trading | (202,200) |  |  | 207,261 |  |  |  |  |  |
| Net realized and unrealized gains (losses) on investment-related derivatives(1) | (57,806) |  |  | 12,162 |  |  |  |  |  |
| Net realized gains (losses) on equity investments | — |  |  | (8,738) |  |  |  |  |  |
| Net unrealized gains (losses) on equity investments | 13,097 |  |  | 39,151 |  |  |  |  |  |
| Net realized and unrealized gains (losses) on equity investments | 13,097 |  |  | 30,413 |  |  |  |  |  |
| Net realized and unrealized gains (losses) on other investments - catastrophe bonds | 18,907 |  |  | 24,126 |  |  |  |  |  |
| Net realized and unrealized gains (losses) on other investments - other | 14,348 |  |  | 5,489 |  |  |  |  |  |
| Net realized and unrealized gains (losses) on investments | $ | (213,654) |  |  | $ | 279,451 |  |  |  |  |  |
(1)Net realized and unrealized gains (losses) on investment-related derivatives includes fixed maturity investments related derivatives (interest rate futures, interest rate swaps, and credit default swaps), equity investments related derivatives (equity futures) and commodity investments related derivatives (commodity futures and commodity options). See “Note 13. Derivative Instruments” for additional information.

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