XML 55 R44.htm IDEA: XBRL DOCUMENT v3.23.2
FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading $ 15,888,564 $ 14,351,402
Short term investments 6,373,969 4,669,272
Equity investments trading 93,058 625,058
Other investments 3,091,686 2,494,954
Derivative assets 25,307 44,421
Derivative liabilities (14,989) (7,581)
Other assets 557 3,499
Other liabilities (1,032) (5,331)
Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 15,888,564 14,351,402
Short term investments 6,373,969 4,669,272
Equity investments trading 93,058 625,058
Other investments 3,091,686 2,494,954
Assumed and ceded (re)insurance contracts (475) (1,832)
Derivative assets 25,307 44,400
Derivative liabilities (14,989) (7,560)
Other assets 9,843 35,008
Total assets and (liabilities) measured at fair value on a recurring basis using Level 3 inputs 25,457,120 22,175,694
Fair Value, Inputs, Level 1, 2 and 3 | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 1,850,339 1,408,248
Quoted Prices in Active Markets for Identical  Assets (Level 1) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 8,592,242 7,180,129
Short term investments 94,474 0
Equity investments trading 93,058 625,058
Other investments 0 0
Assumed and ceded (re)insurance contracts 0 0
Derivative assets 370 387
Derivative liabilities (2,113) (2,008)
Other liabilities (1,743) (1,621)
Total assets and (liabilities) measured at fair value on a recurring basis using Level 3 inputs 8,778,031 7,803,566
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 7,296,322 7,171,273
Short term investments 6,279,495 4,669,272
Equity investments trading 0 0
Other investments 1,679,184 1,241,468
Assumed and ceded (re)insurance contracts 0 0
Derivative assets 24,937 44,013
Derivative liabilities (12,876) (5,552)
Other assets 12,061 38,461
Total assets and (liabilities) measured at fair value on a recurring basis using Level 3 inputs 15,267,062 13,120,474
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
Short term investments 0 0
Equity investments trading 0 0
Other investments 171,155 166,780
Assumed and ceded (re)insurance contracts (475) (1,832)
Derivative assets 0 0
Derivative liabilities 0 0
Other liabilities (475) (1,832)
Total assets and (liabilities) measured at fair value on a recurring basis using Level 3 inputs 170,680 164,948
Significant Unobservable Inputs (Level 3) | Other assets | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assumed and ceded (re)insurance contracts (600) (3,500)
Significant Unobservable Inputs (Level 3) | Other liabilities | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assumed and ceded (re)insurance contracts (1,000) (5,300)
U.S. treasuries | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 8,592,242 7,180,129
U.S. treasuries | Quoted Prices in Active Markets for Identical  Assets (Level 1) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 8,592,242 7,180,129
U.S. treasuries | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
U.S. treasuries | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
Corporate | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 4,371,407 4,390,568
Corporate | Quoted Prices in Active Markets for Identical  Assets (Level 1) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
Corporate | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 4,371,407 4,390,568
Corporate | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
Agencies | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 476,476 395,149
Agencies | Quoted Prices in Active Markets for Identical  Assets (Level 1) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
Agencies | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 476,476 395,149
Agencies | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
Non-U.S. government | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 401,743 383,838
Non-U.S. government | Quoted Prices in Active Markets for Identical  Assets (Level 1) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
Non-U.S. government | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 401,743 383,838
Non-U.S. government | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
Residential mortgage-backed | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 788,256 710,429
Residential mortgage-backed | Quoted Prices in Active Markets for Identical  Assets (Level 1) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
Residential mortgage-backed | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 788,256 710,429
Residential mortgage-backed | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
Commercial mortgage-backed | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 209,661 213,987
Commercial mortgage-backed | Quoted Prices in Active Markets for Identical  Assets (Level 1) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
Commercial mortgage-backed | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 209,661 213,987
Commercial mortgage-backed | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
Asset-backed | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 1,048,779 1,077,302
Asset-backed | Quoted Prices in Active Markets for Identical  Assets (Level 1) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
Asset-backed | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 1,048,779 1,077,302
Asset-backed | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturity investments trading 0 0
Catastrophe bonds | Fair Value, Inputs, Level 1, 2 and 3 | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 1,679,184 1,241,468
Catastrophe bonds | Quoted Prices in Active Markets for Identical  Assets (Level 1) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 0 0
Catastrophe bonds | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 1,679,184 1,241,468
Catastrophe bonds | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 0 0
Term loans | Fair Value, Inputs, Level 1, 2 and 3 | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 100,000 100,000
Term loans | Quoted Prices in Active Markets for Identical  Assets (Level 1) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 0
Term loans | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 0
Term loans | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 100,000 100,000
Direct private equity investments | Fair Value, Inputs, Level 1, 2 and 3 | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 71,155 66,780
Direct private equity investments | Quoted Prices in Active Markets for Identical  Assets (Level 1) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 0 0
Direct private equity investments | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 0 0
Direct private equity investments | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 71,155 66,780
Fund investments | Fair Value Measured at Net Asset Value Per Share | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments $ 1,241,347 $ 1,086,706