XML 109 R83.htm IDEA: XBRL DOCUMENT v3.25.0.1
FAIR VALUE MEASUREMENTS - Summary of Financial Instruments Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets    
Fixed maturities, available for sale $ 12,152,753 $ 12,234,742
Equity securities 579,274 588,511
Other investments 930,278 949,413
Short-term investments 223,666 17,216
Derivative instruments 9,439 4,424
Total Assets 13,895,410 13,794,306
Liabilities    
Derivative instruments 3,100 10,165
Total Liabilities 3,100 10,165
U.S. government and agency    
Assets    
Fixed maturities, available for sale 2,802,986 3,007,528
Non-U.S. government    
Assets    
Fixed maturities, available for sale 729,939 723,959
Corporate debt    
Assets    
Fixed maturities, available for sale 4,842,190 4,474,172
Agency RMBS    
Assets    
Fixed maturities, available for sale 1,184,845 1,634,661
CMBS    
Assets    
Fixed maturities, available for sale 819,608 839,696
Non-agency RMBS    
Assets    
Fixed maturities, available for sale 122,536 153,396
ABS    
Assets    
Fixed maturities, available for sale 1,539,832 1,242,971
Municipals    
Assets    
Fixed maturities, available for sale 110,817 158,359
Common stocks    
Assets    
Equity securities 2,638 2,546
Preferred shares    
Assets    
Equity securities 5,867 5,601
Exchange-traded funds    
Assets    
Equity securities 314,042 287,275
Bond mutual funds    
Assets    
Equity securities 256,727 293,089
Multi-strategy funds    
Assets    
Other investments 24,919 24,619
Direct lending funds    
Assets    
Other investments 171,048 192,270
Private equity funds    
Assets    
Other investments 320,690 301,712
Real estate funds    
Assets    
Other investments 291,640 317,325
CLO-Equities    
Assets    
Other investments 0 5,300
Other privately held investments    
Assets    
Other investments 121,981 108,187
Quoted prices in active markets for identical assets (Level 1)    
Assets    
Fixed maturities, available for sale 2,767,315 2,989,612
Equity securities 316,683 289,822
Other investments 0 0
Short-term investments 0 0
Derivative instruments 0 0
Total Assets 3,083,998 3,279,434
Liabilities    
Derivative instruments 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 2,767,315 2,989,612
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 2,638 2,546
Quoted prices in active markets for identical assets (Level 1) | Preferred shares    
Assets    
Equity securities 3 1
Quoted prices in active markets for identical assets (Level 1) | Exchange-traded funds    
Assets    
Equity securities 314,042 287,275
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 9,238,215 9,109,377
Equity securities 262,591 298,689
Other investments 0 0
Short-term investments 223,666 17,216
Derivative instruments 9,439 4,424
Total Assets 9,733,911 9,429,706
Liabilities    
Derivative instruments 3,100 10,165
Total Liabilities 3,100 10,165
Significant other observable inputs (Level 2) | U.S. government and agency    
Assets    
Fixed maturities, available for sale 35,671 17,916
Significant other observable inputs (Level 2) | Non-U.S. government    
Assets    
Fixed maturities, available for sale 729,939 723,959
Significant other observable inputs (Level 2) | Corporate debt    
Assets    
Fixed maturities, available for sale 4,715,799 4,338,419
Significant other observable inputs (Level 2) | Agency RMBS    
Assets    
Fixed maturities, available for sale 1,184,845 1,634,661
Significant other observable inputs (Level 2) | CMBS    
Assets    
Fixed maturities, available for sale 819,608 839,696
Significant other observable inputs (Level 2) | Non-agency RMBS    
Assets    
Fixed maturities, available for sale 122,536 153,396
Significant other observable inputs (Level 2) | ABS    
Assets    
Fixed maturities, available for sale 1,519,000 1,242,971
Significant other observable inputs (Level 2) | Municipals    
Assets    
Fixed maturities, available for sale 110,817 158,359
Significant other observable inputs (Level 2) | Common stocks    
Assets    
Equity securities 0 0
Significant other observable inputs (Level 2) | Preferred shares    
Assets    
Equity securities 5,864 5,600
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 256,727 293,089
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 147,223 135,753
Equity securities 0 0
Other investments 92,230 92,589
Short-term investments 0 0
Derivative instruments 0 0
Total Assets 239,453 228,342
Liabilities    
Derivative instruments 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 126,391 135,753
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 20,832 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 shares    
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 0 5,300
Significant unobservable inputs (Level 3) | Other privately held investments    
Assets    
Other investments 92,230 87,289
Fair value based on NAV practical expedient    
Assets    
Other investments 838,048 856,824
Total Assets 838,048 856,824
Fair value based on NAV practical expedient | Multi-strategy funds    
Assets    
Other investments 24,919 24,619
Fair value based on NAV practical expedient | Direct lending funds    
Assets    
Other investments 171,048 192,270
Fair value based on NAV practical expedient | Private equity funds    
Assets    
Other investments 320,690 301,712
Fair value based on NAV practical expedient | Real estate funds    
Assets    
Other investments 291,640 317,325
Fair value based on NAV practical expedient | CLO-Equities    
Assets    
Other investments 0 0
Fair value based on NAV practical expedient | Other privately held investments    
Assets    
Other investments $ 29,751 $ 20,898