v3.25.2
RELATED-PARTY TRANSACTIONS (Tables)
 6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions The fair value of these long-term notes is considered Level 2 in the fair value hierarchy.
June 30, 2025December 31, 2024
(Dollars in millions)Date IssuedDate DuePrincipal
Amounts		Consolidated
Balance Sheet
Amount		Fair
Value		Consolidated
Balance Sheet
Amount		Fair
Value
4.30% Long-term Note
12/23/202412/23/2027$600 $600 $605 $600 $596 
(Some amounts may not reconcile due to rounding.)
Interest expense recognized in connection with long-term note agreements is as follows for the periods indicated:
Three Months Ended
June 30,		Six Months Ended
June 30,
(Dollars in millions)Interest ReceivedReceivable Dates2025202420252024
4.30% Long-term Note
semi-annuallyJune 30 and December 316 — 13 — 
(Some amounts may not reconcile due to rounding.)
The following table presents the dividends received on the preferred shares of Preferred Holdings that are reported as net investment income in the consolidated statements of operations and comprehensive income (loss) for the period indicated:
Three Months Ended
June 30,		Six Months Ended
June 30,
(Dollars in millions)2025202420252024
Dividends received on preferred stock of affiliate$8 $8 $16 $16 
The following table presents the expenses incurred by Holdings from services provided by Global Services for the periods indicated.
Three Months Ended
June 30,		Six Months Ended
June 30,
(Dollars in millions)2025202420252024
Expenses incurred60 63 109 121
The table below summarizes total premiums written and earned and incurred losses and LAE ceded to and assumed from affiliates for the periods indicated:
Three Months Ended
June 30,		Six Months Ended
June 30,
(Dollars in millions)2025202420252024
Written premiums:
Assumed16 13 40 27 
Ceded(88)(115)(294)(231)
Premiums earned:
Assumed15 29 35 38 
Ceded(118)(115)(234)(231)
Incurred losses and LAE:
Assumed3 3 — (4)
Ceded7 2 51 
The following table summarizes the premiums and losses that are ceded by the Company to Mt. Logan Re segregated accounts:
(Dollars in millions)Three Months Ended
June 30,		Six Months Ended
June 30,
Mt. Logan Re Segregated Accounts2025202420252024
Ceded written premiums$63 $65 $209 $136 
Ceded earned premiums75 76 182 147 
Ceded losses and LAE(4)12 109 31