v3.25.3
SEGMENT REPORTING (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Underwriting Results for Segments
The following tables present segment underwriting results for the periods indicated:
Three Months Ended September 30, 2025Nine Months Ended September 30, 2025
(Dollars in millions)ReinsuranceInsuranceOtherTotalReinsuranceInsuranceOtherTotal
Gross written premiums$3,206 $1,147 $22 $4,375 $9,668 $3,706 $72 $13,446 
Net written premiums2,885 848 21 3,754 8,773 2,767 68 11,607 
Premiums earned$2,892 $939 $24 $3,855 $8,835 $2,772 $92 $11,698 
Incurred losses and LAE1,678 996 163 2,837 5,673 2,280 250 8,203 
Commission and brokerage764 121 6 890 2,223 355 16 2,595 
Other underwriting expenses74 178 5 258 221 518 11 750 
Underwriting gain (loss)$376 $(357)$(149)$(130)$717 $(381)$(185)$151 
Net investment income540 1,563 
Net gains (losses) on investments(47)(59)
Corporate expenses(27)(79)
Interest, fee and bond issue cost amortization expense(38)(114)
Other income (expense)(29)(129)
Income (loss) before taxes$269 $1,332 
(Some amounts may not reconcile due to rounding.)
Three Months Ended September 30, 2024Nine Months Ended September 30, 2024
(Dollars in millions)ReinsuranceInsuranceOtherTotalReinsuranceInsuranceOtherTotal
Gross written premiums$3,265 $1,110 $50 $4,425 $9,650 $3,728 $183 $13,561 
Net written premiums2,975 789 41 3,805 8,950 2,694 145 11,789 
Premiums earned$2,970 $898 $50 $3,918 $8,429 $2,679 $154 $11,262 
Incurred losses and LAE1,942 605 37 2,584 5,266 1,744 122 7,132 
Commission and brokerage710 110 5 826 2,054 325 19 2,398 
Other underwriting expenses73 154 8 236 215 454 24 694 
Underwriting gain (loss)$245 $28 $(1)$272 $895 $156 $(11)$1,039 
Net investment income496 1,481 
Net gains (losses) on investments(27)(50)
Corporate expenses(25)(69)
Interest, fee and bond issue cost amortization expense(38)(112)
Other income (expense)(102)(48)
Income (loss) before taxes$577 $2,241 
(Some amounts may not reconcile due to rounding.)