The following table summarizes the outstanding letters of credit for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in millions) | | At March 31, 2026 | | At December 31, 2025 | | Letter of Credit Facility | | Commitment | | In Use | | Date of Expiry | | Commitment | | In Use | | Date of Expiry | | Bermuda Re Wells Fargo Bank Bilateral LOC Facility - secured tranche | | $ | 175 | | | $ | 138 | | | 12/31/2026 | | $ | 175 | | | $ | 141 | | | 12/31/2026 | | Bermuda Re Wells Fargo Bank Bilateral LOC Facility - unsecured tranche | | 175 | | | 152 | | | 12/31/2026 | | $ | 175 | | | 140 | | | 12/31/2026 | | | | | — | | | 2/20/2027 | | | | | | | | | | | | | | | | | | | | | Total Bermuda Re Wells Fargo Bank Bilateral LOC Facility | | $ | 350 | | | $ | 290 | | | | | $ | 350 | | | $ | 280 | | | |
(Some amounts may not reconcile due to rounding.) The following table summarizes the outstanding letters of credit for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in millions) | | At March 31, 2026 | | At December 31, 2025 | | Letter of Credit Facility | | Commitment | | In Use | | Date of Expiry | | Commitment | | In Use | | Date of Expiry | | Bermuda Re Citibank LOC Facility - Committed | | $ | 230 | | | $ | — | | | 12/16/2026 | | $ | 230 | | | $ | — | | | 1/21/2026 | | | | | 175 | | | 12/31/2026 | | | | 4 | | | 2/28/2026 | | | | | 3 | | | 1/1/2027 | | | | 2 | | | 3/1/2026 | | | | | — | | | 1/21/2027 | | | | 1 | | | 3/15/2026 | | | | | — | | | 1/31/2027 | | | | — | | | 12/16/2026 | | | | | 4 | | | 2/28/2027 | | | | 191 | | | 12/31/2026 | | | | | 2 | | | 3/1/2027 | | | | 1 | | | 8/15/2027 | | | | | 1 | | | 3/15/2027 | | | | 3 | | | 9/23/2027 | | | | | 1 | | | 8/15/2027 | | | | | | | | | | | 3 | | | 9/23/2027 | | | | | | | | | | | 1 | | | 12/1/2027 | | | | | | | | | | | — | | | 12/16/2027 | | | | | | | | | | | — | | | 12/20/2027 | | | | | | | | | | | 2 | | | 12/31/2027 | | | | | | | | Bermuda Re Citibank LOC Facility - Uncommitted | | 140 | | | 63 | | | 12/31/2026 | | 140 | | | 1 | | | 12/1/2026 | | | | | 7 | | | 3/30/2030 | | | | — | | | 12/20/2026 | | | | | | | | | | | 42 | | | 12/31/2026 | | | | | | | | | | | 7 | | | 12/30/2029 | | Total Bermuda Re Citibank LOC Facility | | $ | 370 | | | $ | 262 | | | | | $ | 370 | | | $ | 253 | | | |
(Some amounts may not reconcile due to rounding.) The following table summarizes the outstanding letters of credit for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in millions) | | At March 31, 2026 | | At December 31, 2025 | | Letter of Credit Facility | | Commitment | | In Use | | Date of Expiry | | Commitment | | In Use | | Date of Expiry | | Bermuda Re Bayerische Landesbank Bilateral Secured Credit Facility - Committed | | $ | 200 | | | $ | 130 | | | 12/31/2026 | | $ | 200 | | | $ | 123 | | | 12/31/2026 | | | | | | | | | | | | | |
(Some amounts may not reconcile due to rounding.) The following table summarizes the outstanding letters of credit for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in millions) | | At March 31, 2026 | | At December 31, 2025 | | Letter of Credit Facility | | Commitment | | In Use | | Date of Expiry | | Commitment | | In Use | | Date of Expiry | | Bermuda Re Bayerische Landesbank Bilateral Unsecured Credit Facility - Committed | | $ | 150 | | | $ | 150 | | | 12/31/2026 | | $ | 150 | | | $ | 150 | | | 12/31/2026 |
(Some amounts may not reconcile due to rounding.) The following table summarizes the outstanding letters of credit for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in millions) | | At March 31, 2026 | | At December 31, 2025 | | Letter of Credit Facility | | Commitment | | In Use | | Date of Expiry | | Commitment | | In Use | | Date of Expiry | | Bermuda Re Lloyd's Bank Credit Facility - Committed | | $ | 250 | | | $ | 65 | | | 10/22/2026 | | $ | 250 | | | $ | 67 | | | 10/22/2026 | | | | | 61 | | | 12/18/2026 | | | | 61 | | | 12/18/2026 | | | | | 105 | | | 12/31/2026 | | | | 107 | | | 12/31/2026 | | Total Bermuda Re Lloyd's Bank LOC Facility | | $ | 250 | | | $ | 231 | | | | | $ | 250 | | | $ | 235 | | | |
(Some amounts may not reconcile due to rounding.) The following table summarizes the outstanding letters of credit for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in millions) | | At March 31, 2026 | | At December 31, 2025 | | Letter of Credit Facility | | Commitment | | In Use | | Date of Expiry | | Commitment | | In Use | | Date of Expiry | | Bermuda Re Barclays Bilateral Letter of Credit Facility | | $ | 200 | | | $ | 13 | | | 11/14/2026 | | $ | 200 | | | $ | 13 | | | 11/14/2026 | | | | | 5 | | | 12/31/2026 | | | | 5 | | | 12/31/2026 | | Total Bermuda Re Barclays Bilateral Letter of Credit Facility | | $ | 200 | | | $ | 17 | | | | | $ | 200 | | | $ | 17 | | | | | | | | | | | | | | | | |
(Some amounts may not reconcile due to rounding.) The following table summarizes the outstanding letters of credit for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in millions) | | At March 31, 2026 | | At December 31, 2025 | | Letter of Credit Facility | | Commitment | | In Use | | Date of Expiry | | Commitment | | In Use | | Date of Expiry | | Nordea Bank Letter of Credit Facility - Committed | | $ | 200 | | | $ | 200 | | | 12/31/2026 | | $ | 200 | | | $ | 200 | | | 12/31/2026 | | Nordea Bank Letter of Credit Facility - Uncommitted | | 100 | | | 100 | | | 12/31/2026 | | 100 | | | 100 | | | 12/31/2026 | | Total Nordea Bank ABP, NY LOC Facility | | $ | 300 | | | $ | 300 | | | | | $ | 300 | | | $ | 300 | | | |
(Some amounts may not reconcile due to rounding.) The following table summarizes the outstanding letters of credit for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Pounds in millions) | | At March 31, 2026 | | At December 31, 2025 | | Letter of Credit Facility | | Commitment | | In Use | | Date of Expiry | | Commitment | | In Use | | Date of Expiry | | Funds at Lloyds Syndicated Letter of Credit Facility | | £ | 150 | | | £ | 143 | | | 11/1/2029 | | £ | 150 | | | £ | 143 | | | 11/1/2029 |
(Some amounts may not reconcile due to rounding.) The following table summarizes the outstanding letters of credit for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars and Euros in millions) | | At March 31, 2026 | | At December 31, 2025 | | Letter of Credit Facility | | Commitment | | In Use | | Date of Expiry | | Commitment | | In Use | | Date of Expiry | | Commerzbank Letter of Credit Facility | | € | 75 | | | € | 51 | | | 1/30/2027 | | € | 75 | | | € | 51 | | | 1/30/2027 | | | | | $ | 21 | | | 12/31/2026 | | | | 22 | | | 12/31/2026 | | | | | $ | — | | | 1/30/2027 | | | | — | | | 12/26/2026 | | | | | | | | | | | | | | | Total Commerzbank Letter of Credit Facility | | € | 75 | | | € | 72 | | | | | € | 75 | | | € | 72 | | | |
Some amounts may not reconcile due to rounding.) |