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RESERVE FOR LOSSES AND LOSS EXPENSES (Tables)
 6 Months Ended
Jun. 30, 2024
Insurance [Abstract]  
Summary of Reconciliation of Beginning and Ending Gross Reserve for Losses and Loss Expenses and Net Reserve for Unpaid Losses and Loss Expenses
The following table presents a reconciliation of the Company's beginning and ending gross reserve for losses and loss expenses and net reserve for unpaid losses and loss expenses:
Six months ended June 30,
20242023
Gross reserve for losses and loss expenses, beginning of period$16,434,018 $15,168,863 
Less reinsurance recoverable on unpaid losses and loss expenses, beginning of period(6,323,083)(5,831,172)
Net reserve for unpaid losses and loss expenses, beginning of period10,110,935 9,337,691 
Net incurred losses and loss expenses related to:
Current year1,494,659 1,467,256 
Prior years— (10,357)
 1,494,659 1,456,899 
Net paid losses and loss expenses related to:
Current year(159,455)(129,414)
Prior years(1,251,637)(1,210,101)
 (1,411,092)(1,339,515)
Foreign exchange and other(47,452)98,814 
Net reserve for unpaid losses and loss expenses, end of period10,147,050 9,553,889 
Reinsurance recoverable on unpaid losses and loss expenses, end of period6,591,821 5,865,609 
Gross reserve for losses and loss expenses, end of period$16,738,871 $15,419,498 
Summary of Prior Year Loss Development The following table presents net prior year reserve development by segment:
  Three months ended June 30,Six months ended June 30,
2024202320242023
Favorable (Adverse)Favorable (Adverse)Favorable (Adverse)Favorable (Adverse)
Insurance$— $2,784 $— $3,825 
Reinsurance— 3,535 — 6,532 
Total$— $6,319 $— $10,357 
Insurance Segment:

Prior year reserve development by line of business was as follows:
Three months ended June 30,Six months ended June 30,
2024202320242023
Favorable (Adverse)Favorable (Adverse)Favorable (Adverse)Favorable (Adverse)
Property$— $(208)$8,011 $5,692 
Accident and health— (248)— (552)
Marine and aviation— 2,682 (8,011)15,903 
Cyber— 676 — 9,128 
Professional lines— (3,498)— (16,092)
Credit and political risk— 8,430 — 12,949 
Liability— (5,050)— (23,203)
Total$— $2,784 $— $3,825 
Reinsurance Segment:
Prior year reserve development by line of business was as follows:
  Three months ended June 30,Six months ended June 30,
  2024202320242023
Favorable
(Adverse)		Favorable
(Adverse)		Favorable
(Adverse)		Favorable
(Adverse)
Accident and health$— $7,284 $— $14,273 
Agriculture— 2,122 — 14,013 
Marine and aviation— 5,197 — 4,947 
Professional lines— (10,504)— (13,728)
Credit and surety— (582)— (1,128)
Motor— (4,825)— (21,946)
Liability— (7,017)— (39,870)
Run-off lines
Catastrophe— 7,487 — 38,546 
Property— 2,264 — 9,147 
Engineering— 2,109 — 2,278 
Total run-off lines— 11,860 — 49,971 
Total$— $3,535 $— $6,532