v3.26.1
SEGMENT REPORTING (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Underwriting Results for Segments
The following tables present segment underwriting results for the periods indicated:
Three Months Ended June 30, 2026Six Months Ended June 30, 2026
(Dollars in millions)Reinsurance TreatyGlobal Wholesale & SpecialtyLegacyTotal ConsolidatedReinsurance TreatyGlobal Wholesale & SpecialtyLegacyTotal Consolidated
Gross written premiums$2,720 $958 $94 $3,772 $5,394 $1,751 $229 $7,374 
Net written premiums2,228 738 72 3,037 4,632 1,430 161 6,224 
Premiums earned$2,459 $709 $323 $3,490 $4,915 $1,427 $722 $7,064 
Incurred losses and LAE1,478 439 253 2,170 2,926 892 569 4,388 
Commission and brokerage626 146 41 814 1,258 298 82 1,638 
Other underwriting expenses71 89 64 225 132 180 129 441 
Underwriting gain (loss)$283 $34 $(36)$281 $598 $57 $(58)$597 
Net investment income523 1,091 
Net gains (losses) on investments(8)(17)
Corporate expenses(33)(71)
Interest, fee and bond issue cost amortization expense(36)(71)
Other income (expense)(45)(108)
Income tax benefit (expense)(124)(207)
Net income (loss)$559 $1,213 
(Some amounts may not reconcile due to rounding.)
Three Months Ended June 30, 2025Six Months Ended June 30, 2025
(Dollars in millions)Reinsurance TreatyGlobal Wholesale & SpecialtyLegacyTotal ConsolidatedReinsurance TreatyGlobal Wholesale & SpecialtyLegacyTotal Consolidated
Gross written premiums$2,951 $957 $772 $4,680 $5,885 $1,728 $1,459 $9,071 
Net written premiums2,785 765 569 4,119 5,313 1,420 1,120 7,853 
Premiums earned$2,726 $728 $538 $3,991 $5,306 $1,460 $1,078 $7,843 
Incurred losses and LAE1,568 471 433 2,472 3,573 952 841 5,366 
Commission and brokerage682 148 50 880 1,318 291 95 1,704 
Other underwriting expenses64 74 116 254 124 150 219 492 
Underwriting gain (loss)$413 $35 $(63)$385 $291 $67 $(77)$281 
Net investment income532 1,023 
Net gains (losses) on investments(5)(12)
Corporate expenses(31)(52)
Interest, fee and bond issue cost amortization expense(38)(76)
Other income (expense)(27)(100)
Income tax benefit (expense)(135)(173)
Net income (loss)$680 $890 
(Some amounts may not reconcile due to rounding.)