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TAXATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The following is a summary of the Company’s income (loss) before taxes allocated between domestic and foreign operations:
| Year ended December 31, | 2024 |  | 2023 |  | 2022 |
| Domestic |  |  |  |  |  |
| Bermuda | $ | 2,704,721 |  |  | $ | 2,622,066 |  |  | $ | (672,950) |  |
| Foreign |  |  |  |  |  |
| Singapore | 61,570 |  |  | 64,003 |  |  | 112 |  |
| Ireland | 2,650 |  |  | 1,730 |  |  | 6 |  |
| U.S. | 93,606 |  |  | 308,768 |  |  | (367,799) |  |
| Australia | 14,487 |  |  | 7,570 |  |  | (29,214) |  |
| Switzerland | 57,585 |  |  | (22,016) |  |  | (72,773) |  |
| Luxembourg | (50) |  |  | (16) |  |  | — |  |
| Canada | (3,501) |  |  | 2,040 |  |  | — |  |
| U.K. | 62,092 |  |  | 125,915 |  |  | (76,217) |  |
| Income (loss) before taxes | $ | 2,993,160 |  |  | $ | 3,110,060 |  |  | $ | (1,218,835) |  |
Schedule of Components of Income Tax (Expense) Benefit | Income tax benefit (expense) is comprised as follows:
| Income tax benefit (expense) | Current |  | Deferred |  | Total |
| Year ended December 31, 2024 | $ | (56,718) |  |  | $ | 24,090 |  |  | $ | (32,628) |  |
| Year ended December 31, 2023 | $ | (57,422) |  |  | $ | 567,489 |  |  | $ | 510,067 |  |
| Year ended December 31, 2022 | $ | (3,078) |  |  | $ | 62,097 |  |  | $ | 59,019 |  |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the difference between the provision for income taxes and the expected tax provision at the weighted average tax rate is as follows:
| Year ended December 31, | 2024 |  | 2023 |  | 2022 |
| Expected income tax benefit (expense) | $ | (60,684) |  |  | $ | (103,963) |  |  | $ | 114,721 |  |
| Nondeductible expenses | (1,671) |  |  | (535) |  |  | (508) |  |
| Reinsurance adjustment | 4,384 |  |  | 4,746 |  |  | (1,265) |  |
| Effect of change in tax rate | (160) |  |  | (729) |  |  | 7,461 |  |
| OECD Pillar Two global minimum tax | (16,603) |  |  | — |  |  | — |  |
| GAAP to statutory accounting difference | (1,113) |  |  | (1,781) |  |  | (6,019) |  |
| Withholding tax | (1,614) |  |  | (1,078) |  |  | (2,154) |  |
| Recognition of Bermuda net deferred tax asset | 8,339 |  |  | 593,765 |  |  | — |  |
| Change in valuation allowance | 66,198 |  |  | 45,192 |  |  | (62,133) |  |
| Foreign branch adjustments | (30,998) |  |  | (25,908) |  |  | 11,656 |  |
| Other | 1,294 |  |  | 358 |  |  | (2,740) |  |
| Income tax benefit (expense) | $ | (32,628) |  |  | $ | 510,067 |  |  | $ | 59,019 |  |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:
| At December 31, | 2024 |  | 2023 |
| Deferred tax assets |  |  |  |
| Intangible assets | $ | 420,143 |  |  | $ | 408,654 |  |
| Value of in-force business | 167,599 |  |  | 167,599 |  |
| Tax loss carryforwards | 152,864 |  |  | 197,498 |  |
| Reserve for claims and claim expenses | 131,121 |  |  | 95,685 |  |
| Unearned premiums | 59,441 |  |  | 68,408 |  |
| Amortization and depreciation | 23,877 |  |  | 16,386 |  |
| Deferred finance charges | 17,832 |  |  | 19,442 |  |
| Accrued expenses | 4,336 |  |  | 2,849 |  |
| Investments | 2,687 |  |  | 37,044 |  |
| Deferred underwriting results | 1,548 |  |  | 9,373 |  |
|  | 981,448 |  |  | 1,022,938 |  |
| Deferred tax liabilities |  |  |  |
| Deferred acquisition expenses | (125,347) |  |  | (112,157) |  |
| VOBA | (17,540) |  |  | (46,109) |  |
| Deferred revenue | (8,685) |  |  | — |  |
| U.S. tax accounting method change | (7,312) |  |  | — |  |
|  | (158,884) |  |  | (158,266) |  |
| Net deferred tax asset (liability) before valuation allowance | 822,564 |  |  | 864,672 |  |
| Valuation allowance | (147,079) |  |  | (213,277) |  |
| Net deferred tax asset (liability) | $ | 675,485 |  |  | $ | 651,395 |  |

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