XML 59 R48.htm IDEA: XBRL DOCUMENT v3.23.3
FAIR VALUE MEASUREMENTS - Financial Instruments Measured at Fair Value (Details) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Assets    
Fixed maturities, available for sale $ 11,723,368 $ 11,326,894
Equity securities 556,262 485,253
Other investments 954,571 996,751
Short-term investments 115,959 70,310
Derivative instruments (refer to Note 5) 4,466 37,682
Total Assets 13,354,626 12,916,890
Liabilities    
Derivative instruments 9,666 703
Cash-settled awards 0 4,792
Total Liabilities 9,666 5,495
U.S. government and agency    
Assets    
Fixed maturities, available for sale 2,860,633 2,639,330
Non-U.S. government    
Assets    
Fixed maturities, available for sale 670,255 562,029
Corporate debt    
Assets    
Fixed maturities, available for sale 4,229,863 4,255,556
Agency RMBS    
Assets    
Fixed maturities, available for sale 1,541,505 1,202,785
CMBS    
Assets    
Fixed maturities, available for sale 865,051 947,778
Non-agency RMBS    
Assets    
Fixed maturities, available for sale 137,804 133,534
ABS    
Assets    
Fixed maturities, available for sale 1,266,868 1,429,527
Municipals    
Assets    
Fixed maturities, available for sale 151,389 156,355
Common stocks    
Assets    
Equity securities 3,050 7,473
Preferred stocks    
Assets    
Equity securities 5,086 72
Exchange-traded funds    
Assets    
Equity securities 273,794 269,806
Bond mutual funds    
Assets    
Equity securities 274,332 207,902
Multi-strategy funds    
Assets    
Other investments 25,465 32,616
Direct lending funds    
Assets    
Other investments 229,235 258,626
Private equity funds    
Assets    
Other investments 283,838 265,836
Real estate funds    
Assets    
Other investments 307,177 298,499
CLO-Equities    
Assets    
Other investments 4,684 5,016
Other privately held investments    
Assets    
Other investments 104,172 136,158
Quoted prices in active markets for identical assets (Level 1)    
Assets    
Fixed maturities, available for sale 2,829,541 2,600,636
Equity securities 276,847 277,351
Other investments 0 0
Short-term investments 0 0
Derivative instruments (refer to Note 5) 0 0
Total Assets 3,106,388 2,877,987
Liabilities    
Derivative instruments 0 0
Cash-settled awards 0 0
Total Liabilities 0 0
Quoted prices in active markets for identical assets (Level 1) | U.S. government and agency    
Assets    
Fixed maturities, available for sale 2,829,541 2,600,636
Quoted prices in active markets for identical assets (Level 1) | Non-U.S. government    
Assets    
Fixed maturities, available for sale 0 0
Quoted prices in active markets for identical assets (Level 1) | Corporate debt    
Assets    
Fixed maturities, available for sale 0 0
Quoted prices in active markets for identical assets (Level 1) | Agency RMBS    
Assets    
Fixed maturities, available for sale 0 0
Quoted prices in active markets for identical assets (Level 1) | CMBS    
Assets    
Fixed maturities, available for sale 0 0
Quoted prices in active markets for identical assets (Level 1) | Non-agency RMBS    
Assets    
Fixed maturities, available for sale 0 0
Quoted prices in active markets for identical assets (Level 1) | ABS    
Assets    
Fixed maturities, available for sale 0 0
Quoted prices in active markets for identical assets (Level 1) | Municipals    
Assets    
Fixed maturities, available for sale 0 0
Quoted prices in active markets for identical assets (Level 1) | Common stocks    
Assets    
Equity securities 3,050 7,473
Quoted prices in active markets for identical assets (Level 1) | Preferred stocks    
Assets    
Equity securities 3 72
Quoted prices in active markets for identical assets (Level 1) | Exchange-traded funds    
Assets    
Equity securities 273,794 269,806
Quoted prices in active markets for identical assets (Level 1) | Bond mutual funds    
Assets    
Equity securities 0 0
Quoted prices in active markets for identical assets (Level 1) | Multi-strategy funds    
Assets    
Other investments 0 0
Quoted prices in active markets for identical assets (Level 1) | Direct lending funds    
Assets    
Other investments 0 0
Quoted prices in active markets for identical assets (Level 1) | Private equity funds    
Assets    
Other investments 0 0
Quoted prices in active markets for identical assets (Level 1) | Real estate funds    
Assets    
Other investments 0 0
Quoted prices in active markets for identical assets (Level 1) | CLO-Equities    
Assets    
Other investments 0 0
Quoted prices in active markets for identical assets (Level 1) | Other privately held investments    
Assets    
Other investments 0 0
Significant other observable inputs (Level 2)    
Assets    
Fixed maturities, available for sale 8,760,359 8,607,154
Equity securities 279,415 207,902
Other investments 0 0
Short-term investments 115,959 70,310
Derivative instruments (refer to Note 5) 4,466 37,682
Total Assets 9,160,199 8,923,048
Liabilities    
Derivative instruments 9,666 703
Cash-settled awards 0 4,792
Total Liabilities 9,666 5,495
Significant other observable inputs (Level 2) | U.S. government and agency    
Assets    
Fixed maturities, available for sale 31,092 38,694
Significant other observable inputs (Level 2) | Non-U.S. government    
Assets    
Fixed maturities, available for sale 670,255 562,029
Significant other observable inputs (Level 2) | Corporate debt    
Assets    
Fixed maturities, available for sale 4,096,395 4,136,452
Significant other observable inputs (Level 2) | Agency RMBS    
Assets    
Fixed maturities, available for sale 1,541,505 1,202,785
Significant other observable inputs (Level 2) | CMBS    
Assets    
Fixed maturities, available for sale 865,051 947,778
Significant other observable inputs (Level 2) | Non-agency RMBS    
Assets    
Fixed maturities, available for sale 137,804 133,534
Significant other observable inputs (Level 2) | ABS    
Assets    
Fixed maturities, available for sale 1,266,868 1,429,527
Significant other observable inputs (Level 2) | Municipals    
Assets    
Fixed maturities, available for sale 151,389 156,355
Significant other observable inputs (Level 2) | Common stocks    
Assets    
Equity securities 0 0
Significant other observable inputs (Level 2) | Preferred stocks    
Assets    
Equity securities 5,083 0
Significant other observable inputs (Level 2) | Exchange-traded funds    
Assets    
Equity securities 0 0
Significant other observable inputs (Level 2) | Bond mutual funds    
Assets    
Equity securities 274,332 207,902
Significant other observable inputs (Level 2) | Multi-strategy funds    
Assets    
Other investments 0 0
Significant other observable inputs (Level 2) | Direct lending funds    
Assets    
Other investments 0 0
Significant other observable inputs (Level 2) | Private equity funds    
Assets    
Other investments 0 0
Significant other observable inputs (Level 2) | Real estate funds    
Assets    
Other investments 0 0
Significant other observable inputs (Level 2) | CLO-Equities    
Assets    
Other investments 0 0
Significant other observable inputs (Level 2) | Other privately held investments    
Assets    
Other investments 0 0
Significant unobservable inputs (Level 3)    
Assets    
Fixed maturities, available for sale 133,468 119,104
Equity securities 0 0
Other investments 94,635 141,174
Short-term investments 0 0
Derivative instruments (refer to Note 5) 0 0
Total Assets 228,103 260,278
Liabilities    
Derivative instruments 0 0
Cash-settled awards 0 0
Total Liabilities 0 0
Significant unobservable inputs (Level 3) | U.S. government and agency    
Assets    
Fixed maturities, available for sale 0 0
Significant unobservable inputs (Level 3) | Non-U.S. government    
Assets    
Fixed maturities, available for sale 0 0
Significant unobservable inputs (Level 3) | Corporate debt    
Assets    
Fixed maturities, available for sale 133,468 119,104
Significant unobservable inputs (Level 3) | Agency RMBS    
Assets    
Fixed maturities, available for sale 0 0
Significant unobservable inputs (Level 3) | CMBS    
Assets    
Fixed maturities, available for sale 0 0
Significant unobservable inputs (Level 3) | Non-agency RMBS    
Assets    
Fixed maturities, available for sale 0 0
Significant unobservable inputs (Level 3) | ABS    
Assets    
Fixed maturities, available for sale 0 0
Significant unobservable inputs (Level 3) | Municipals    
Assets    
Fixed maturities, available for sale 0 0
Significant unobservable inputs (Level 3) | Common stocks    
Assets    
Equity securities 0 0
Significant unobservable inputs (Level 3) | Preferred stocks    
Assets    
Equity securities 0 0
Significant unobservable inputs (Level 3) | Exchange-traded funds    
Assets    
Equity securities 0 0
Significant unobservable inputs (Level 3) | Bond mutual funds    
Assets    
Equity securities 0 0
Significant unobservable inputs (Level 3) | Multi-strategy funds    
Assets    
Other investments 0 0
Significant unobservable inputs (Level 3) | Direct lending funds    
Assets    
Other investments 0 0
Significant unobservable inputs (Level 3) | Private equity funds    
Assets    
Other investments 0 0
Significant unobservable inputs (Level 3) | Real estate funds    
Assets    
Other investments 0 0
Significant unobservable inputs (Level 3) | CLO-Equities    
Assets    
Other investments 4,684 5,016
Significant unobservable inputs (Level 3) | Other privately held investments    
Assets    
Other investments 89,951 136,158
Fair value based on NAV practical expedient    
Assets    
Other investments 859,936 855,577
Total Assets 859,936 855,577
Fair value based on NAV practical expedient | Multi-strategy funds    
Assets    
Other investments 25,465 32,616
Fair value based on NAV practical expedient | Direct lending funds    
Assets    
Other investments 229,235 258,626
Fair value based on NAV practical expedient | Private equity funds    
Assets    
Other investments 283,838 265,836
Fair value based on NAV practical expedient | Real estate funds    
Assets    
Other investments 307,177 $ 298,499
Fair value based on NAV practical expedient | Other privately held investments    
Assets    
Other investments $ 14,221