Acquisitions (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the Company’s allocation of the purchase price to the acquired assets and liabilities assumed based on estimated fair values on August 1, 2024. The fair value of the assets and liabilities are preliminary and may change with offsetting adjustments to goodwill. The Company may make further adjustments to its purchase price allocation through the end of the permissible one-year measurement period.


		Total		Useful Life
Purchase price
	Cash paid (a)	$	450

Assets Acquired
	Cash and investments, at fair value	$	2,332
	Premiums receivable	290
	Intangible asset -- distribution relationships	220		10 years
	Intangible asset -- value of business acquired	163		1-2 years
	Intangible asset -- other (1)	178		5-7 years
	Other assets acquired	158
	Total assets acquired	$	3,341

Liabilities Acquired
	Reserves for losses and loss adjustment expenses	$	2,404
	Unearned premiums	632
	Other liabilities acquired	121
	Total liabilities acquired	3,157
	Identifiable net assets acquired (b)	$	184
Goodwill (a) - (b)		$	266

(1) Includes $128 million related to the net fair value adjustment to reserves for loss and loss adjustment expenses on August 1, 2024.