v3.26.1
RELATED-PARTY TRANSACTIONS (Tables)
 6 Months Ended
Jun. 30, 2026
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, 2026December 31, 2025
(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 $603 $600 $615 
(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 Dates2026202520262025
4.30% Long-term Note
semi-annuallyJune 30 and December 316 6 13 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)2026202520262025
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)2026202520262025
Expenses incurred68 60 138 109
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)2026202520262025
Written premiums:
Assumed15 16 39 40
Ceded(75)(88)(205)(294)
Premiums earned:
Assumed14 15 43 35
Ceded(88)(118)(178)(234)
Incurred losses and LAE:
Assumed8 3 16 — 
Ceded(1)7 (1)5
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 Accounts2026202520262025
Ceded written premiums$72 $63 $173 $209 
Ceded earned premiums72 75 173 182 
Ceded losses and LAE9 (4)27 109