RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	A member of the Company’s Board of Directors, Mr. Charles Davis, is the Chief Executive Officer of Stone Point Capital, LLC ("Stone Point"). In the ordinary course of business, the Company engages SKY Harbor Capital Management, LLC, an affiliate of Stone Point, to provide asset management services for certain short duration high yield debt portfolios. For the year ended December 31, 2020, total fees paid to SKY Harbor Capital Management, LLC, were $3 million (2019: $3 million; 2018: $2 million). The Company has invested $7 million in NXT Capital Senior Loan Fund II, LP and $18 million in NXT Capital Senior Loan Fund III, LP. The manager of these funds is an indirect subsidiary of NXT Capital Inc. ("NXT Capital"). Investment funds managed by Stone Point indirectly owned approximately 43% of NXT Capital until this ownership interest was sold in August 2018. For the year ended December 31, 2018, fees paid to NXT Capital were $1 million. In addition, the Company has invested $38 million in the Freedom Consumer Credit Fund, LLC - Series B. The manager of this fund is Freedom Financial Asset Management, LLC ("Freedom") which is an indirect subsidiary of Pantheon Partners, LLC ("Pantheon"). Investment funds managed by Stone Point own approximately 14.5% of Pantheon. For the year ended December 31, 2020, fees paid to Freedom were $2 million (2019: $3 million; 2018: $2 million). The Company has invested $23 million in Stone Point's private equity fund, Trident VIII L.P. ("Trident VIII"). For the year ended December 31, 2020, fees paid to Stone Point in relation to Trident VIII were $1 million (2019: $nil; 2018: $nil). The Company has invested $11 million in a co-investment with Stone Point for a partnership interest in T-VIII Co-Invest-A LP ("Trident VIII Co-Invest") which was formed by Stone Point to facilitate the investment by multiple investors in Duff & Phelps, LLC, a financial advisory firm. For the year ended December 31, 2020, the Company has not paid any fees to Stone Point in relation to Trident VIII Co-Invest. The Company's Chairman, Mr. Butt received consulting fees for the year ended December 31, 2020 of $0.4 million (2019: $0.4 million; 2018: $0.5 million) pursuant to the terms of a consulting agreement between Mr. Butt and the Company which terminated on December 31, 2020. The Company's investment portfolio includes certain investments where it is considered to have the ability to exercise significant influence over the operating and financial policies of the investee. Significant influence is generally deemed to exist where the Company has an investment of 20% or more in the common stock of a corporation or an investment greater than 3% to 5% in closed end funds, limited partnerships, LLCs or similar investment vehicles. At December 31, 2020, the Company has $404 million (2019: $410 million) of investments where it is deemed to have the ability to exercise such significant influence. The Company generally pays management and performance fees to the investment managers of these investments. The Company considers all fees paid to the investment managers to be at market rates consistent with negotiated arms-length contracts. Harrington and Harrington Re commenced operations in 2016 (refer to Note 5 'Investments'). The Company has the ability to exercise significant influence over the operating and financial policies of Harrington and Harrington Re. In the normal course of business, the Company enters into certain reinsurance transactions with Harrington Re. For the year ended December 31, 2020, the Company ceded reinsurance premiums of $256 million (2019: $247 million; 2018: $194 million) and ceded losses of $187 million (2019: $157 million; 2018: $142 million) to Harrington Re. In addition, Harrington Re paid certain acquisition costs and administrative fees to the Company. At December 31, 2020, the amount of reinsurance recoverable on unpaid and paid losses was $641 million (2019: $518 million) and the amount of ceded reinsurance payable included in insurance and reinsurance balances payable was $188 million (2019: $159 million) in the consolidated balance sheets. All transactions were conducted at market rates consistent with negotiated arms-length contracts. On November 5, 2013, the Company formed AXIS Ventures Reinsurance Limited ("Ventures Re"), a Bermuda domiciled insurer. All of Ventures Re's directors are employees of the Company. With effect from January 1, 2015, Ventures Re is no longer included in the consolidated financial statements of the Company. In the normal course of business, the Company entered into certain reinsurance contracts with Ventures Re. Effective, January 1, 2020, Ventures Re entered into a novation reinsurance contract with various reinsurers. For the year ended December 31, 2020, the Company ceded premiums of $nil (2019: $192 million; 2018: $182 million) and ceded losses of $nil (2019: $140 million; 2018: $138 million) to Ventures Re. In addition, Ventures Re paid certain acquisition costs and administrative fees to the Company. At December 31, 2020, the amount of reinsurance recoverable on unpaid and paid losses was $nil (2019: $199 million) and the amount of ceded reinsurance payable included in insurance and reinsurance balances payable was $nil (2019: $46 million) in the consolidated balance sheets. All transactions were conducted at market rates consistent with negotiated arms-length contracts.