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SCHEDULE II - Condensed Statements of Cash Flows - Parent Company Only (Details) - USD ($)
$ / shares in Units, $ in Thousands
12 Months Ended
Mar. 15, 2021
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
May 03, 2021
Cash flows from operating activities          
Net income (loss)   $ 2,318,119 $ (939,752) $ 764,188  
Adjustments to reconcile net income to net cash used in operating activities:          
Other, net   182,400 48,805 29,417  
Net cash provided by operating activities   2,235,681 1,468,409 1,232,590  
Cash flows from investing activities          
Purchases of fixed maturities   (4,038,399) (2,940,597) (8,141,246)  
Purchases of short-term investments   (1,513,449) (867,605) (372,901)  
Other, net   (79,717) 11,679 (31,903)  
Net cash used in investing activities   (2,173,006) (664,825) (2,329,122)  
Cash flows from financing activities          
Redemption of Class B common shares [1]   0 (6,346) (581)  
Issuance of preferred shares   0 0 193,887  
Redemption of preferred shares   0 0 (637,241)  
Net cash used in financing activities   (227,665) (194,550) (573,295)  
Effect of foreign exchange rate changes on cash   10,817 (18,335) (20,109)  
(Decrease) increase in cash and cash equivalents   (154,173) 590,699 (1,689,936)  
Non-cash transactions excluded from Condensed Statement of Cash Flows - Parent Company Only:          
Non-cash exchange of intercompany balances     103,000    
Non-cash exchange intercompany loan   $ 747,000 $ 744,000    
Preferred shares, par value per share   $ 1.00 $ 1.00    
Aggregate liquidation preference   $ 200,000 $ 200,000   $ 637,000
Underwriting discounts and commissions         $ 21,000
Series J Preferred Stock          
Non-cash transactions excluded from Condensed Statement of Cash Flows - Parent Company Only:          
Shares issued during the period (in shares) 8,000,000        
Annual dividend rate 4.875%        
Preferred shares, par value per share $ 1.00        
Aggregate liquidation preference $ 200,000        
Underwriting discounts and commissions $ 6,000        
Preferred shares, redemption price per share (in dollars per share) $ 25        
Series G 6.5% cumulative          
Non-cash transactions excluded from Condensed Statement of Cash Flows - Parent Company Only:          
Preferred shares, redemption price per share (in dollars per share)         $ 25
Series I 5.875% non-cumulative          
Non-cash transactions excluded from Condensed Statement of Cash Flows - Parent Company Only:          
Preferred shares, redemption price per share (in dollars per share)         25
Series H 7.25% cumulative          
Non-cash transactions excluded from Condensed Statement of Cash Flows - Parent Company Only:          
Preferred shares, redemption price per share (in dollars per share)         $ 25
Parent Company          
Cash flows from operating activities          
Net income (loss)   2,318,119 (939,752) 764,188  
Adjustments to reconcile net income to net cash used in operating activities:          
Equity in net (income) loss of subsidiaries   (2,465,781) 885,014 (789,778)  
Other, net   101,969 41,810 (51,783)  
Net cash provided by operating activities   (45,693) (12,928) (77,373)  
Cash flows from investing activities          
Advances to/from subsidiaries, net (1) [2]   52,631 22,213 100,426  
Sales and redemptions of fixed maturities   6,483 11,290 481,015  
Sales and redemptions of short-term investments   940 5,173 0  
Purchases of fixed maturities   (11,613) (15,984) (62,239)  
Purchases of short-term investments   (3,868) (5,173) 0  
Other, net   (2,078) (3,341) (8,465)  
Net cash used in investing activities   42,495 14,178 510,737  
Cash flows from financing activities          
Issuance of preferred shares   0 0 193,887 [3]  
Redemption of preferred shares   0 0 (637,241) [3]  
Net cash used in financing activities   0 0 (443,354)  
Effect of foreign exchange rate changes on cash   2,436 576 1,958  
(Decrease) increase in cash and cash equivalents   (762) 1,826 (8,032)  
Cash and cash equivalents—beginning of year   3,814 1,988 10,020  
Cash and cash equivalents—end of year   $ 3,052 $ 3,814 1,988  
Non-cash transactions excluded from Condensed Statement of Cash Flows - Parent Company Only:          
Preferred shares, par value per share   $ 1.00 $ 1.00    
Aggregate liquidation preference   $ 200,000 $ 200,000    
Subsidiaries          
Non-cash transactions excluded from Condensed Statement of Cash Flows - Parent Company Only:          
Payment of dividends by subsidiary on behalf of parent   228,000 188,000 129,000  
Non-cash dividends received from subsidiaries   850,000 630,000 $ 350,000  
Non-cash capital contributions to subsidiaries   $ 103,000 $ 527,000    
[1] Class B shares are liability-accounted on the Company's Consolidated Balance Sheet. See Note 17 for further details.
[2] The following non-cash transactions were excluded from the Condensed Statement of Cash Flows - Parent Company Only:
a.During 2023, 2022 and 2021, dividends paid to common and preferred shareholders of $228 million, $188 million and $129 million, respectively, were paid by a Bermuda subsidiary on behalf of the parent, with a corresponding increase to intercompany balances payable.
b.During 2023, the parent recorded non-cash dividends received from subsidiaries of $850 million, non-cash capital contributions to subsidiaries of $103 million, and a corresponding decrease in intercompany loan payable of $747 million.
c.During 2022, the parent recorded a non-cash exchange of certain intercompany balances payable for an intercompany loan payable of $744 million.
d.During 2022, the parent recorded non-cash dividends received from subsidiaries of $630 million, non-cash capital contributions to subsidiaries of $527 million and a corresponding decrease in intercompany balances payable of $103 million.
e.During 2021, the parent recorded a non-cash dividend received from a subsidiary of $350 million, with a corresponding change to intercompany balances payable.
[3] During 2021, the parent issued 8 million 4.875% Series J fixed rate non-cumulative redeemable preferred shares at a par value of $1.00 per share and a redemption price of $200 million, and incurred preferred share issuance costs of $6 million. The parent also redeemed all outstanding Series G, H and I preferred shares at $25 per share for an aggregate liquidation value of $637 million during 2021.