v3.26.1
SEGMENT REPORTING (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Underwriting Results for Segments
The following tables present segment underwriting results for the periods indicated:
Three Months Ended March 31, 2026
(Dollars in millions)Reinsurance TreatyGlobal Wholesale & SpecialtyLegacyTotal
Gross written premiums$2,674 $793 $135 $3,602 
Net written premiums2,405 692 89 3,186 
Premiums earned$2,456 $719 $399 $3,574 
Incurred losses and LAE1,448 453 316 2,217 
Commission and brokerage632 152 41 825 
Other underwriting expenses61 90 65 216 
Underwriting gain (loss)$315 $23 $(22)$316 
Net investment income567 
Net gains (losses) on investments(10)
Corporate expenses(38)
Interest, fee and bond issue cost amortization expense(36)
Other income (expense)(63)
Income (loss) before taxes$736 
(Some amounts may not reconcile due to rounding.)
Three Months Ended March 31, 2025
(Dollars in millions)Reinsurance TreatyGlobal Wholesale & SpecialtyLegacyTotal
Gross written premiums$2,935 $770 $686 $4,391 
Net written premiums2,528 655 552 3,735 
Premiums earned$2,579 $732 $540 $3,852 
Incurred losses and LAE2,005 482 407 2,893 
Commission and brokerage637 143 44 824 
Other underwriting expenses60 76 103 238 
Underwriting gain (loss)$(122)$32 $(14)$(104)
Net investment income491 
Net gains (losses) on investments(7)
Corporate expenses(21)
Interest, fee and bond issue cost amortization expense(38)
Other income (expense)(73)
Income (loss) before taxes$248 
(Some amounts may not reconcile due to rounding.)