SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule Of Underwriting Results For Operating Segments

The following tables present the underwriting results for the operating segments for the periods indicated:

	Year Ended December 31, 2023
(Dollars in millions)	Reinsurance		Insurance		Total
Gross written premiums	$	7,181	$	3,936	$	11,117
Net written premiums	6,205		3,007		9,212
Premiums earned	$	5,637	$	2,900	$	8,536
Incurred losses and LAE	3,329		2,249		5,578
Commission and brokerage	1,545		306		1,851
Other underwriting expenses	167		407		574
Underwriting gain (loss)	$	596	$	(64)	$	533
Net investment income					993
Net gains (losses) on investments					(180)
Corporate expenses					(18)
Interest, fee and bond issue cost amortization expense					(134)
Other income (expense)					(11)
Income (loss) before taxes					$	1,181

(Some amounts may not reconcile due to rounding.)

	Year Ended December 31, 2022
(Dollars in millions)	Reinsurance		Insurance		Total
Gross written premiums	$	5,879	$	3,798	$	9,677
Net written premiums	5,204		2,828		8,032
Premiums earned	$	5,147	$	2,729	$	7,876
Incurred losses and LAE	3,926		1,897		5,823
Commission and brokerage	1,308		325		1,632
Other underwriting expenses	138		364		501
Underwriting gain (loss)	$	(224)	$	144	$	(81)
Net investment income					638
Net gains (losses) on investments					(982)
Corporate expenses					(26)
Interest, fee and bond issue cost amortization expense					(101)
Other income (expense)					(6)
Income (loss) before taxes					$	(557)

(Some amounts may not reconcile due to rounding.)

	Year Ended December 31, 2021
(Dollars in millions)	Reinsurance		Insurance		Total
Gross written premiums	$	5,979	$	3,352	$	9,331
Net written premiums	5,217		2,503		7,719
Premiums earned	$	4,899	$	2,279	$	7,179
Incurred losses and LAE	3,750		1,637		5,387
Commission and brokerage	1,229		284		1,513
Other underwriting expenses	142		312		454
Underwriting gain (loss)	$	(220)	$	46	$	(175)
Net investment income					745
Net gains (losses) on investments					501
Corporate expenses					(33)
Interest, fee and bond issue cost amortization expense					(70)
Other income (expense)					23
Income (loss) before taxes					$	991

(Some amounts may not reconcile due to rounding.)