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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUES:    
Premiums earned $ 2,231 $ 2,068
Net investment income 312 190
Total net gains (losses) on investments (8) 22
Other income (expense) 7 (4)
Total revenues 2,543 2,276
CLAIMS AND EXPENSES:    
Incurred losses and loss adjustment expenses 1,375 1,394
Commission, brokerage, taxes and fees 472 436
Other underwriting expenses 146 139
Corporate expenses 5 6
Interest, fees and bond issue cost amortization expense 37 32
Total claims and expenses 2,036 2,007
INCOME (LOSS) BEFORE TAXES 507 269
Income tax expense (benefit) 99 49
NET INCOME (LOSS) 408 220
Other comprehensive income (loss), net of tax:    
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period (62) 112
Less: reclassification adjustment for realized losses (gains) included in net income (loss) 3 9
Total URA(D) on securities arising during the period (59) 121
Foreign currency translation adjustments (19) 7
Reclassification adjustment for amortization of net (gain) loss included in net income (loss) 0 0
Total benefit plan net gain (loss) for the period 0 0
Total other comprehensive income (loss), net of tax (77) 128
COMPREHENSIVE INCOME (LOSS) $ 331 $ 348