SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2024

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:

	Three Months Ended March 31, 2024
(Dollars in millions)	Reinsurance		Insurance		Total
Gross written premiums	$	1,935	$	837	$	2,772
Net written premiums	1,624		642		2,266
Premiums earned	$	1,558	$	672	$	2,231
Incurred losses and LAE	932		443		1,375
Commission and brokerage	402		70		472
Other underwriting expenses	46		100		146
Underwriting gain (loss)	$	178	$	59	$	237
Net investment income					312
Net gains (losses) on investments					(8)
Corporate expenses					(5)
Interest, fees and bond issue cost amortization expense					(37)
Other income (expense)					7
Income (loss) before taxes					$	507

(Some amounts may not reconcile due to rounding)

	Three Months Ended March 31, 2023
(Dollars in millions)	Reinsurance		Insurance		Total
Gross written premiums	$	1,627	$	869	$	2,496
Net written premiums	1,357		706		2,063
Premiums earned	$	1,351	$	718	$	2,068
Incurred losses and LAE	919		475		1,394
Commission and brokerage	357		80		436
Other underwriting expenses	38		101		139
Underwriting gain (loss)	$	36	$	63	$	99
Net investment income					190
Net gains (losses) on investments					22
Corporate expenses					(6)
Interest, fees and bond issue cost amortization expense					(32)
Other income (expense)					(4)
Income (loss) before taxes					$	269

(Some amounts may not reconcile due to rounding)