AXIS Capital Holdings Limited (AXS) 10-K 25 Feb 22 2021 FY Annual report Financial data

COVER

COVER - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2021	Feb. 22, 2022	Jun. 30, 2021
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	001-31721
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-0395986
Entity Address, Address Line One	92 Pitts Bay Road
Entity Address, City or Town	Pembroke
Entity Address, Country	BM
Entity Address, Postal Zip Code	HM 08
City Area Code	441
Local Phone Number	496-2600
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filer	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 4.1
Entity Common Stock, Shares Outstanding		84,802,318
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement to be filed with the Securities and Exchange Commission pursuant to Regulation 14A relating to the annual meeting of shareholders to be held on May 6, 2022 are incorporated by reference in response to items 10, 11, 12, 13 and 14 in Part III of this Form 10-K. The definitive proxy statement will be filed with the Securities and Exchange Commission not later than 120 days after the registrant's fiscal year ended December 31, 2021.
Entity Registrant Name	AXIS CAPITAL HOLDINGS LTD
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0001214816
Current Fiscal Year End Date	--12-31
Common stocks
Document Information [Line Items]
Title of 12(b) Security	Common shares, par value $0.0125 per share
Trading Symbol	AXS
Security Exchange Name	NYSE
Series E 5.50% Preferred Shares
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/100th interest in a 5.50% Series E preferred shares
Trading Symbol	AXS PRE
Security Exchange Name	NYSE

AUDIT INFORMATION

AUDIT INFORMATION	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Firm ID	5230
Auditor Name	Deloitte Ltd.
Auditor Location	Hamilton, Bermuda

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Investments:
Fixed maturities, available for sale, at fair value (Amortized cost 2021: $12,241,782; 2020: $11,566,930 Allowance for expected credit losses 2021: $313; 2020: $323)	$ 12,313,200	$ 12,041,799
Fixed maturities, held to maturity, at amortized cost (Fair value 2021: $445,033 Allowance for expected credit losses 2021: $nil)	446,016	0
Equity securities, at fair value (Cost 2021: $528,864; 2020: $421,744)	655,675	518,445
Mortgage loans, held for investment, at fair value (Allowance for expected credit losses 2021: $nil; 2020: $nil)	594,088	593,290
Other investments, at fair value	947,982	829,156
Equity method investments	146,293	114,209
Short-term investments, at fair value	31,063	161,897
Total investments	15,134,317	14,258,796
Cash and cash equivalents	844,592	902,831
Restricted cash and cash equivalents	473,098	600,401
Accrued interest receivable	64,350	65,020
Insurance and reinsurance premium balances receivable (Allowance for expected credit losses 2021: $7,567; 2020: $8,836)	2,622,676	2,738,342
Reinsurance recoverable on unpaid losses and loss expenses (Allowance for expected credit losses 2021: $29,554; 2020: $23,711)	5,017,611	4,496,641
Reinsurance recoverable on paid losses and loss expenses	642,215	434,201
Deferred acquisition costs	465,593	431,439
Prepaid reinsurance premiums	1,377,358	1,194,455
Receivable for investments sold	4,555	2,150
Goodwill	100,801	100,801
Intangible assets	208,717	219,633
Value of business acquired	0	3,854
Operating lease right-of-use assets	103,295	123,579
Other assets	309,792	305,544
Total assets	27,368,970	25,877,687
Liabilities
Reserve for losses and loss expenses	14,653,094	13,926,766
Unearned premiums	4,090,676	3,685,886
Insurance and reinsurance balances payable	1,324,620	1,092,042
Debt	1,310,975	1,309,695
Payable for investments purchased	31,543	104,777
Operating lease liabilities	119,512	140,263
Other liabilities	427,894	322,564
Total liabilities	21,958,314	20,581,993
Commitments and Contingencies
Shareholders' equity
Preferred shares	550,000	550,000
Common shares (shares issued 2021: 176,580; 2020: 176,580 shares outstanding 2021: 84,774; 2020: 84,353)	2,206	2,206
Additional paid-in capital	2,346,179	2,330,054
Accumulated other comprehensive income	56,536	414,395
Retained earnings	6,204,745	5,763,607
Treasury shares, at cost (2021: 91,806; 2020: 92,227)	(3,749,010)	(3,764,568)
Total shareholders’ equity	5,410,656	5,295,694
Total liabilities and shareholders’ equity	$ 27,368,970	$ 25,877,687

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Fixed maturities, available for sale, amortized cost	$ 12,241,782	$ 11,566,930
Allowance for expected credit losses on fixed maturities, available for sale	313	323
Fixed maturities, held to maturity, fair value	445,033	0
Fixed maturities, held to maturity, allowance for credit loss	0
Equity securities, cost	528,864	421,744
Credit losses associated with commercial mortgage loans	0	0
Allowance for credit losses on premium balances receivable	7,567	8,836
Allowance for credit losses on reinsurance recoverable for unpaid losses and loss expenses	$ 29,554	$ 23,711
Common shares, shares issued (in shares)	176,580	176,580
Common shares, shares outstanding (in shares)	84,774	84,353
Treasury shares (in shares)	91,806	92,227

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues
Net premiums earned	$ 4,709,850	$ 4,371,309	$ 4,587,178
Net investment income	454,301	349,601	478,572
Other insurance related income	23,295	(8,089)	16,444
Net investment gains:
Allowance for expected credit losses	11	(323)	0
Impairment losses	(22)	(1,486)	0
Other-than-temporary impairment ("OTTI") losses	0	0	(6,984)
Other realized and unrealized investment gains	134,290	130,942	98,217
Total net investment gains	134,279	129,133	91,233
Total revenues	5,321,725	4,841,954	5,173,427
Expenses
Net losses and loss expenses	3,008,783	3,281,252	3,044,798
Acquisition costs	921,834	929,517	1,024,582
General and administrative expenses	663,304	579,790	634,831
Foreign exchange losses (gains)	315	81,069	(12,041)
Interest expense and financing costs	62,302	75,049	68,107
Reorganization expenses	0	7,881	37,384
Amortization of value of business acquired	3,854	5,139	26,722
Amortization of intangible assets	12,424	11,390	11,597
Total expenses	4,672,816	4,971,087	4,835,980
Income before income taxes and interest in income of equity method investments	648,909	(129,133)	337,447
Income tax (expense) benefit	(62,384)	12,321	(23,692)
Interest in income (loss) of equity method investments	32,084	(3,612)	9,718
Net income (loss)	618,609	(120,424)	323,473
Preferred share dividends	30,250	30,250	41,112
Net income (loss) available (attributable) to common shareholders	$ 588,359	$ (150,674)	$ 282,361
Earnings (loss) per common share:
Earnings (loss) per common share (in dollars per share)	$ 6.95	$ (1.79)	$ 3.37
Earnings (loss) per diluted common share (in dollars per share)	$ 6.90	$ (1.79)	$ 3.34
Weighted average common shares outstanding (in shares)	84,707	84,262	83,894
Weighted average diluted common shares outstanding (in shares)	85,291	84,262	84,473

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 618,609	$ (120,424)	$ 323,473
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) arising during the year, net of reclassification adjustment	(358,480)	239,114	349,886
Foreign currency translation adjustment	621	3,571	(1,066)
Total other comprehensive income (loss), net of tax	(357,859)	242,685	348,820
Comprehensive income	260,750	122,261	672,293
Unrealized gains (losses) on available for sale investments
Other comprehensive income (loss), net of tax:
Adjustment for reclassification of net realized (gains) losses, impairment losses and OTTI losses recognized in net income (loss)	(87,114)	(78,012)	(24,729)
Unrealized gains (losses) arising during the year, net of reclassification adjustment	(358,480)	239,114	349,886
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized | Unrealized gains (losses) on available for sale investments
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) arising during the year	(271,447)	317,166	374,615
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has been recognized | Unrealized gains (losses) on available for sale investments
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) arising during the year	$ 81	$ (40)	$ 0

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - USD ($) $ in Thousands		Total	Preferred Shares	Common shares (par value)	Additional paid-in capital	Accumulated other comprehensive income (loss)	Unrealized gains (losses) on available-for-sale investments, net of tax	Cumulative foreign currency translation adjustments, net of tax	Retained earnings	Treasury shares, at cost
Balance at beginning of year at Dec. 31, 2018			$ 775,000	$ 2,206	$ 2,308,583	$ (177,110)	$ (168,365)	$ (8,745)	$ 5,912,812	$ (3,791,420)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares repurchased			0
Treasury shares reissued					(21,046)					22,779
Share-based compensation expense					29,675
Unrealized gains (losses) arising during the year, net of reclassification adjustment		$ 349,886					349,886
Foreign currency translation adjustment		(1,066)						(1,066)
Net income (loss)		323,473							323,473
Preferred share dividends	[1]								(41,112)
Common share dividends	[1]								(138,487)
Shares repurchased										(10,165)
Balance at end of year at Dec. 31, 2019		5,544,008	775,000	2,206	2,317,212	171,710	181,521	(9,811)	6,056,686	(3,778,806)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares repurchased			(225,000)
Treasury shares reissued					(22,732)					24,620
Share-based compensation expense					35,574
Unrealized gains (losses) arising during the year, net of reclassification adjustment		239,114					239,114
Foreign currency translation adjustment		3,571						3,571
Net income (loss)		(120,424)							(120,424)
Preferred share dividends	[1]								(30,250)
Common share dividends	[1]								(142,405)
Shares repurchased										(10,382)
Balance at end of year at Dec. 31, 2020		5,295,694	550,000	2,206	2,330,054	414,395	420,635	(6,240)	5,763,607	(3,764,568)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares repurchased			0
Treasury shares reissued					(24,655)					25,800
Share-based compensation expense					40,780
Unrealized gains (losses) arising during the year, net of reclassification adjustment		(358,480)					(358,480)
Foreign currency translation adjustment		621						621
Net income (loss)		618,609							618,609
Preferred share dividends	[1]								(30,250)
Common share dividends	[1]								(147,221)
Shares repurchased										(10,242)
Balance at end of year at Dec. 31, 2021		$ 5,410,656	$ 550,000	$ 2,206	$ 2,346,179	$ 56,536	$ 62,155	$ (5,619)	$ 6,204,745	$ (3,749,010)
[1]	Refer to Note 14 'Shareholders' Equity' for details on dividends declared and paid related to the Company's common and preferred shares.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income (loss)	$ 618,609	$ (120,424)	$ 323,473
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Net investment gains	(134,279)	(129,133)	(91,233)
Net realized and unrealized gains on other investments	(180,329)	(16,059)	(60,038)
Amortization of fixed maturities	35,839	32,893	18,499
Interest in (income) loss of equity method investments	(32,084)	3,612	(9,718)
Amortization of value of business acquired	3,854	5,139	26,722
Other amortization and depreciation	66,977	65,797	75,229
Share-based compensation expense, net of cash payments	37,744	29,005	32,491
Non-cash foreign exchange gains	0	0	(6,043)
Changes in:
Accrued interest receivable	633	13,097	2,140
Reinsurance recoverable on unpaid losses and loss expenses	(527,362)	(618,040)	(359,543)
Reinsurance recoverable on paid losses and loss expenses	(207,429)	(105,820)	(52,533)
Deferred acquisition costs	(34,386)	60,828	74,331
Prepaid reinsurance premiums	(185,646)	(94,122)	(88,789)
Reserve for losses and loss expenses	737,342	1,178,292	467,428
Unearned premiums	409,858	62,999	(7,958)
Insurance and reinsurance balances, net	349,502	72,503	(51,075)
Other items	155,979	(97,064)	(94,379)
Net cash provided by operating activities	1,114,822	343,503	199,004
Purchases of:
Fixed maturities, available for sale	(12,133,755)	(10,494,198)	(9,994,025)
Fixed maturities, held to maturity	(196,775)	0	0
Equity securities	(137,247)	(117,883)	(58,022)
Mortgage loans	(145,832)	(199,259)	(194,020)
Other investments	(263,712)	(166,602)	(218,178)
Short-term investments	(159,056)	(365,170)	(179,230)
Proceeds from the sale of:
Fixed maturities, available for sale	9,203,241	9,784,137	8,018,658
Equity securities	24,862	119,381	36,016
Other investments	324,810	166,976	249,129
Short-term investments	177,672	171,976	266,057
Proceeds from redemption of fixed maturities, available for sale	1,817,482	1,526,396	1,282,796
Proceeds from redemption of fixed maturities, held to maturity	155,809	0	0
Proceeds from redemption of short-term investments	111,417	69,707	19,366
Proceeds from the repayment of mortgage loans	145,621	39,121	60,244
Purchase of other assets	(38,732)	(44,661)	(63,106)
Net cash provided by (used in) investing activities	(1,114,195)	489,921	(774,315)
Cash flows from financing activities:
Net proceeds from issuance of senior notes	0	0	717,509
Redemption of senior notes	0	(500,000)	(250,000)
Repurchase of preferred shares	0	(225,000)	0
Taxes paid on withholding shares	(10,242)	(10,382)	(10,165)
Dividends paid - common shares	(145,603)	(141,590)	(137,209)
Dividends paid - preferred shares	(30,250)	(31,831)	(42,625)
Net cash provided by (used in) financing activities	(186,095)	(908,803)	277,510
Effect of exchange rate changes on foreign currency cash, cash equivalents and restricted cash	(74)	2,154	44,238
Decrease in cash, cash equivalents and restricted cash	(185,542)	(73,225)	(253,563)
Cash, cash equivalents and restricted cash - beginning of year	1,503,232	1,576,457	1,830,020
Cash, cash equivalents and restricted cash - end of year	1,317,690	1,503,232	1,576,457
Supplemental disclosures of cash flow information:
Income taxes paid	45,083	4,414	39,949
Interest paid	$ 59,400	$ 54,108	$ 59,563

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Statement of Cash Flows [Abstract]
Fair value of securities transferred from available for sale to fixed maturities, held to maturity	$ 405

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	AXIS Capital Holdings Limited ("AXIS Capital" and together with its wholly owned subsidiaries the "Company"), was incorporated on December 9, 2002, under the laws of Bermuda. The Company provides a broad range of insurance and reinsurance products on a worldwide basis. The Company's principal operating subsidiaries, located in Bermuda, the United States ("U.S."), Europe, Singapore and Canada are described below: • AXIS Specialty Limited ("AXIS Specialty Bermuda"), a Bermuda domiciled company is licensed to provide specialty insurance and treaty reinsurance products on a worldwide basis. In addition, AXIS Specialty Bermuda conducts insurance and reinsurance business through its branch in Singapore, AXIS Specialty Limited (Singapore Branch). • AXIS Insurance Company, domiciled in Illinois and AXIS Reinsurance Company, domiciled in New York, together with AXIS Reinsurance Company (Canadian Branch) are licensed to offer a range of specialty insurance and treaty reinsurance products to a variety of niche markets on a worldwide basis. AXIS Surplus Insurance Company, domiciled in Illinois, is eligible to write insurance on a surplus lines basis. • AXIS Specialty Europe SE ("AXIS Specialty Europe") is a European public limited liability company, incorporated as a non-life insurer under the laws of Ireland. It is a Societas Europaea (SE), or European society company registered in accordance with company law of the E.U. AXIS Specialty Europe also conducts insurance business through its branch in the United Kingdom ("U.K."), AXIS Specialty Europe SE ("UK Branch"). Pursuant to the U.K.'s withdrawal from the European Union on January 31, 2020, AXIS Specialty Europe expects to be fully regulated by the Prudential Regulation Authority ("PRA") as a third-country branch in the U.K. Until AXIS Specialty Europe's application to the PRA for authorization of a third-country branch in the U.K. is approved, AXIS Specialty Europe trades in the U.K. under the PRA and the U.K. Financial Conduct Authority ("FCA") Temporary Permissions Regime. Effective January 1, 2019, Compagnie Belge d’Assurances Aviation NV/SA ("Aviabel") merged into AXIS Specialty Europe by way of merger by absorption and dissolved without going into liquidation (the "Aviabel Merger"). In connection with the Aviabel Merger, AXIS Specialty Europe established new branches in Belgium and the Netherlands, AXIS Specialty Europe SE (Belgium Branch) and AXIS Specialty Europe SE (Netherlands Branch), respectively. Effective January 1, 2019, AXIS Specialty Europe conducts insurance business through its new branches in Belgium and the Netherlands. Effective December 31, 2021, AXIS Specialty Europe SE (Netherlands Branch) closed and was deregistered from the local commercial register. • AXIS Re SE is a European public limited liability company, incorporated as a reinsurer under the laws of Ireland. AXIS Re SE is also a Societas Europaea (SE). AXIS Re SE also conducts reinsurance business through its branch in Switzerland, AXIS Re SE, Dublin (Zurich Branch). • The Company operates in the Lloyd's of London ("Lloyd's") market through its corporate members AXIS Corporate Capital UK Limited and AXIS Corporate Capital UK II Limited, which provide 70% and 30%, respectively of AXIS Syndicate 1686's ("Syndicate 1686") capital support. AXIS Syndicate 1686 is managed by AXIS Managing Agency Ltd. ("AXIS Managing Agency"). • On October 2, 2017, AXIS Specialty UK Holdings Limited, a wholly owned subsidiary of the Company, acquired a 100% ownership interest in Novae Group plc ("Novae"). AXIS Corporate Capital UK II Limited was the sole corporate member of Novae Syndicate 2007 ("Syndicate 2007"). Effective January 1, 2018, AXIS Managing Agency commenced management and oversight of Syndicate 2007. Effective January 1, 2019, Syndicate 2007 ceased accepting new business and was placed into run-off. Effective January 1, 2021, the Reinsurance to Close of the 2018 year of account of Syndicate 2007 was completed. • AXIS Ventures Limited ("AXIS Ventures") and AXIS Reinsurance Managers Limited ("AXIS Reinsurance Managers"), regulated by the BMA as insurance managers, generate fee income from services provided to strategic capital partners. Effective September 23, 2020, AXIS Ventures deregistered as an insurance manager with the BMA.

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and the rules and regulations of the U.S. Securities and Exchange Commission ("SEC") and include AXIS Capital Holdings Limited and its wholly-owned subsidiaries. All inter-company accounts and transactions have been eliminated. To facilitate comparison of information across periods, certain reclassifications have been made to prior year amounts to conform to the current year's presentation. Tabular dollar and share amounts are in thousands, with the exception of per share amounts. All amounts are reported in U.S. dollars. Use of Estimates The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. While management believes that the amounts included in the consolidated financial statements reflect its best estimates and assumptions, actual results could differ from those estimates. The Company’s principal estimates include: • reserve for losses and loss expenses; • reinsurance recoverable on unpaid losses and loss expenses, including the allowance for expected credit losses; • gross premiums written and net premiums earned; • fair value measurements of financial assets and liabilities; and • the allowance for credit losses associated with fixed maturities, available for sale. The Company's significant accounting policies are as follows: a) Investments Fixed Maturities, Available for Sale, at Fair Value and Fixed Maturities, Held to Maturity, at Amortized Cost Fixed maturities classified as available for sale are reported at fair value (refer to Note 6 ' Fair Value Measurements ') and are presented net of an allowance for expected credit losses. The change in fair values of fixed maturities, net of tax is recognized in accumulated other comprehensive income (loss) ("AOCI") in the consolidated statement of changes in shareholders’ equity. Fixed maturities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity or redemption. Fixed maturities classified as held to maturity are reported at amortized cost and are presented net of an allowance for expected credit losses. Net investment income includes interest income and the amortization of market premiums and discounts and is presented net of investment expenses. Investment income is recognized when earned. Purchases and sales of fixed maturities are recorded on a trade-date basis and realized gains (losses) on sales of fixed maturities are determined based on the specific identification method. Realized gains (losses) on fixed maturities are included in net investment gains (losses) in the consolidated statements of operations. The Company recognizes investment income from fixed maturities based on the constant effective yield method, which includes an adjustment for estimated principal repayments, if applicable. The effective yield used to determine the amortization of fixed maturities subject to prepayment risk (e.g. asset-backed, mortgage-backed and other structured securities) is recalculated and adjusted periodically based on historical and/or projected future cash flows. Adjustments to the yield for highly rated prepayable fixed maturities are accounted for using the retrospective method. Adjustments to the yield for other prepayable fixed maturities are accounted for using the prospective method. Credit Losses - Fixed Maturities, Available for Sale Fixed maturities, available for sale are impaired if the fair value of the investment is below amortized cost. On a quarterly basis, the Company evaluates all fixed maturities, available for sale securities for impairment losses. Following the adoption of Accounting Standard Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments, " on January 1, 2020, if a fixed maturity, available for sale security is impaired and the Company intends to sell the security or it is more likely than not that the Company will be required to sell the security before its anticipated recovery, the full amount of the impairment loss is charged to net income (loss) and is included in net investment gains (losses). In instances where the Company intends to hold the impaired fixed maturity, available for sale security the Company determines whether the decline in fair value below the amortized cost basis has resulted from a credit loss or other factors. If the Company does not anticipate to fully recover the amortized cost , an allowance for expected credit losses is established. The allowance for expected credit losses is limited to the difference between a security's amortized cost basis and its fair value. The allowance for expected credit losses is charged to net income (loss) and is included in net investment gains (losses). On a quarterly basis, the Company assesses whether unrealized losses on fixed maturities, available for sale represent credit impairments by considering the following factors: a. the extent to which the fair value is less than amortized cost; b. adverse conditions related to the security, industry, or geographical area; c. downgrades in the security's credit rating by a credit rating agency; and d. failure of the issuer to make scheduled principal or interest payments. The length of time a security has been in an unrealized loss position no longer impacts the determination of whether a credit loss exists. If a security is assessed to be credit impaired, it is subject to a discounted cash flow analysis by comparing the present value of expected future cash flows with the amortized cost basis. If the present value of expected cash flows is less than the amortized cost, a credit loss exists and an allowance for expected credit losses is recognized. If the present value of expected future cash flows is equal to or greater than the amortized cost basis, an expected credit loss does not exist. The non-credit impairment amount of the loss (i.e. related to interest rates, market conditions, etc.) is recognized in other comprehensive income. The Company reports accrued interest receivable related to available for sale debt securities separately and has elected not to measure an allowance for expected credit losses for accrued interest receivable. Write-offs of accrued interest receivable balances are recognized in net investment gains (losses) in the period in which they are deemed uncollectible. Prior to the adoption of ASU 2016-13 On a quarterly basis, the Company assessed whether unrealized losses on fixed maturities, available for sale represented impairments that were other-than-temporary. If a fixed maturity, available for sale security was impaired and the Company intended to sell the security or it was more likely than not that the Company would be required to sell the security before its anticipated recovery, the impairment was considered other-than-temporary. In these instances, the full amount of the impairment was charged to net income (loss) and was included in net investment gains (losses) in the consolidated statements of operations. In instances where the Company intended to hold the impaired fixed maturity, available for sale security the Company estimated the anticipated credit loss on the security and this component of the impairment was charged to net income (loss) and was included in net investment gains (losses) in the consolidated statements of operations. The non-credit component of the impairment was recognized in other comprehensive income. Credit Losses - Fixed Maturities, Held to Maturity A fixed maturity, held to maturity security is impaired if the fair value of the investment is below amortized cost. On a quarterly basis, the Company evaluates all fixed maturity, held to maturity securities for impairment losses. The Company's fixed maturity, held to maturity securities portfolio consists of asset-backed securities ("ABS") and corporate debt securities. The Company's ABS, held to maturity consists of CLO debt tranched securities. The Company uses a scenario-based approach to review its CLO debt portfolio and reviews subordination levels of these securities to determine their ability to absorb credit losses of the underlying collateral. If losses are forecast to be below the subordination level for a tranche held by the Company, the security is determined not to have a credit loss. To estimate expected credit losses for corporate debt securities, held to maturity, the Company's projected cash flows are primarily driven by assumptions regarding the severity of loss, which is a function of the probability of default and projected recovery rates. The Company's default and recovery rates are based on credit ratings, credit analysis and macroeconomic forecasts. The allowance for expected credit losses is estimated based on the Company’s analysis of projected lifetime losses. The allowance for expected credit losses is recognized in net investment gains (losses) in the consolidated statements of operations. Any adjustment to the allowance for expected credit losses is recognized in the period in which it is determined. Equity Securities, at Fair Value Equity securities are reported at fair value. The change in the fair values of equity securities, net of tax is recognized in net investment gains (losses) in the consolidated statements of operations. Net investment income includes dividend income and is presented net of investment expenses. Investment income is recognized when earned. Purchases and sales of equity securities are recorded on a trade-date basis and realized gains (losses) on sales of equity securities are determined based on the specific identification method. Realized gains (losses) on equity securities are included in net investment gains (losses) in the consolidated statements of operations. Mortgage Loans, Held for Investment, at Fair Value Mortgage loans, held for investment are reported at amortized cost which is calculated as the unpaid principal balance, adjusted for any unamortized premium or discount, deferred fees or expenses. Interest income and prepayment fees are recognized when earned. Interest income is recognized based on an effective yield method which gives effect to the amortization of premiums and accretion of discounts. Following the adoption of Accounting Standard Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments, " on January 1, 2020, mortgage loans, held for investment are presented net of an allowance for expected credit losses. The allowance for expected credit losses is estimated based on the Company’s analysis of projected lifetime losses. These projections take into account the Company’s experience with credit quality indicators, loan losses, defaults, loss severity, and loss expectations for loans with similar risk characteristics. These evaluations are revised as conditions change and new information becomes available. The allowance for expected credit losses is recognized in net investment gains (losses). Any adjustment to the allowance for expected credit losses is recognized in the period in which it is determined. Other Investments Other investments are recorded at fair value (refer to Note 6 ' Fair Value Measurements '). Changes in fair value and realized gains (losses) are reported in net investment income in the consolidated statements of operations. Equity Method Investments Investments in which the Company has significant influence over the operating and financial policies of the investee are classified as equity method investments and are accounted for using the equity method of accounting. In applying the equity method of accounting, investments are initially recorded at cost and are subsequently adjusted based on the Company’s proportionate share of net income (loss) or loss of the investee. Adjustments are based on the most recently available financial information from the investee. Changes in the carrying value of these investments are recorded in net income as interest in income (loss) of equity method investments. Short-term Investments Short-term investments primarily comprise highly liquid debt securities with maturities greater than three months but less than one year from the date of purchase. These investments are carried at amortized cost, which approximates fair value. b) Cash and Cash Equivalents Cash equivalents include money-market funds, fixed interest deposits and reverse repurchase agreements with a maturity of under 90 days when purchased. Cash and cash equivalents are recorded at amortized cost, which approximates fair value due to the short-term, liquid nature of these securities. Restricted cash primarily relates to funds held in trust to support obligations in regulatory jurisdictions where the Company operates as a non-admitted carrier and to support the underwriting activities at Lloyd's. c) Premiums and Acquisition Costs Premiums Insurance premiums written are recorded in accordance with the terms of the underlying policies. Reinsurance premiums are recorded at the inception of the contract based on estimates received from ceding companies. For multi-year contracts insurance and reinsurance premiums are recorded at the inception of the contract based on management’s best estimate of total premiums to be received. Premiums are recognized on an annual basis for multi-year contracts where the cedant has the ability to unilaterally commute or cancel coverage within the term of the contract. Any adjustments to insurance and reinsurance premium estimates are recognized in the period in which they are determined. Insurance and reinsurance premiums are earned evenly over the period during which the Company is exposed to the underlying risk, which is generally one to two years with the exception of multi-year contracts. Unearned premiums represent the portion of premiums which relate to the unexpired risks under contracts in force. Reinstatement premiums are recognized and earned at the time a loss event occurs and losses are recorded, where the coverage limits for the remaining life of the contract are reinstated under pre-defined contract terms. The recognition of reinstatement premiums is based on estimates of losses and loss expenses, which reflects management’s judgment, as described in Note 2(d) ' Losses and Loss Expenses ' below. Following the adoption of Accounting Standard Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments, " on January 1, 2020, insurance and reinsurance premium balances receivable are reviewed for impairment at least quarterly and are presented net of an allowance for expected credit losses. The allowance for expected credit losses is estimated based on the Company's analysis of amounts due, historical delinquencies and write-offs, and current economic conditions, together with reasonable and supportable forecasts of short-term economic conditions. The allowance for expected credit losses is recognized in net income (loss). Any adjustment to the allowance for expected credit losses is recognized in the period in which it is determined. Write-offs of premium balances receivable, together with associated allowances for expected credit losses, are recognized in the period in which balances are deemed uncollectible. The Company does not have a history of significant write-offs. Prior to the adoption of ASU 2016-13 Insurance and reinsurance premium balances receivable were reviewed in detail at least quarterly and a provision was established for amounts considered uncollectible. Acquisition Costs Acquisition costs vary with and are directly related to the successful acquisition efforts of acquiring new or renewing existing insurance and reinsurance contracts and consist primarily of fees and commissions paid to brokers and premium taxes. In addition, certain of our contracts include profit commission provisions or other adjustable features that are estimated based on expected losses and loss expenses for those contracts. Acquisition costs are shown net of commissions on reinsurance purchased. Net acquisition costs are deferred and charged to net income (loss) as the related premium is earned. Insurance and reinsurance premium balances receivable is presented net of acquisition costs when contract terms provide for the right of offset. Anticipated losses and loss expenses, other costs and investment income related to these premiums are considered in assessing the recoverability of deferred acquisition costs. Deferred acquisition cost amounts that are assessed to be irrecoverable are recognized in net income (loss) in the period in which the determination is made. Compensation expenses for personnel involved in contract acquisition, and advertising costs, are charged to net income (loss) when incurred. d) Losses and Loss Expenses Reserve for losses and loss expenses represents an estimate of the unpaid portion of the ultimate liability for losses and loss expenses for insured and reinsured events that have occurred at or before the balance sheet date. These amounts reflect claims that have been reported ("case reserves") and claims that have been incurred but have not yet been reported ("IBNR") and are reduced for estimated amounts of salvage and subrogation recoveries. The Company reviews its reserve for losses and loss expenses on a quarterly basis. Case reserves are primarily established based on amounts reported by clients and/or their brokers. Management estimates IBNR after reviewing detailed actuarial analyses and applying informed judgment regarding qualitative factors that may not be fully captured in the actuarial estimates. A variety of actuarial methods are utilized in this process, including the Expected Loss Ratio, Chain Ladder and Bornhuetter-Ferguson methods. The estimate is highly dependent on management’s judgment as to which method(s) are most appropriate for a particular accident/underwriting year and line of business. Historical claims data may be supplemented with industry benchmarks when applying these methodologies. Any adjustments to estimates of reserve for losses and loss expenses are recognized in the period in which they are determined. While the Company believes that its reserves for losses and loss expenses are adequate, this estimate requires significant judgment and new information, events or circumstances may result in ultimate losses that are materially greater or less than provided for in the consolidated balance sheets. e) Reinsurance In the normal course of business, the Company purchases treaty and facultative reinsurance protection to limit its ultimate losses from catastrophic events and to reduce its loss aggregation risk. The premiums paid to reinsurers (i.e. ceded premiums written) are recognized over the coverage period. Prepaid reinsurance premiums represent the portion of premiums ceded which relate to the unexpired term of the contracts in force. Reinstatement premiums are recognized and earned at the time a loss event occurs and losses are recorded, where the coverage limits for the remaining life of the contract are reinstated under pre-defined contract terms. Reinsurance recoverable on unpaid losses and loss expenses ("reinsurance recoverables") related to case reserves is estimated on a case-by-case basis by applying the terms of applicable reinsurance cover to individual case reserve estimates. Reinsurance recoverables related to IBNR is generally developed as part of the Company's loss reserving process, therefore, its estimation is subject to similar risks and uncertainties as the estimation of IBNR. Estimates of amounts to be ceded under excess of loss reinsurance contracts also take into account pricing information for those contracts and require greater judgment than estimates for proportional contracts. Following the adoption of Accounting Standard Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments, " on January 1, 2020, reinsurance recoverable balances are reviewed for impairment at least quarterly and are presented net of an allowance for expected credit losses. A case-specific allowance for expected credit losses against reinsurance recoverables that we deem are unlikely to be collected in full, is estimated based on the Company's analysis of amounts due, historical delinquencies and write-offs. In addition, a default analysis is used to estimate an allowance for expected credit losses on the remainder of the reinsurance recoverable balance. The principal components of the default analysis are reinsurance recoverable balances by reinsurer and default factors applied to estimate uncollectible amounts based on reinsurers’ credit ratings and the length of collection periods. The default factors are based on a model developed by a major rating agency. The default analysis considers current and forecasted economic conditions. The allowance for expected credit losses is recognized in net income (loss). Any adjustment to the allowance for expected credit losses is recognized in the period in which it is determined. Write-offs of reinsurance recoverable balances, together with associated allowances for expected credit losses, are recognized in the period in which balances are deemed uncollectible. The Company does not have a history of significant write-offs. Prior to the adoption of ASU 2016-13 Reinsurance recoverable balances were reviewed in detail on a quarterly basis and a provision was established for amounts considered uncollectible. Retroactive Reinsurance Retroactive reinsurance reimburses a ceding company for liabilities incurred as a result of past insurable events covered under contracts subject to the reinsurance. In certain instances, reinsurance contracts cover losses both on a prospective basis and on a retroactive basis and where practical the Company bifurcates the prospective and retroactive elements of these reinsurance contracts and accounts for each element separately. Initial gains in connection with retroactive reinsurance contracts are deferred and amortized into income over the settlement period while losses are recognized immediately. When changes in the estimated amount recoverable from the reinsurer or in the timing of receipts related to that amount occur, a cumulative amortization adjustment is recognized in net income in the period in which the change is determined so that the deferred gain reflects the balance that would have existed had the revised estimate been available at the inception of the reinsurance transaction. f) Foreign Exchange The functional currency of the Company and the majority of its subsidiaries is the U.S. dollar. All foreign currency transactions are initially measured and recorded in functional currency using the rates of exchange prevailing at the transaction date. Monetary assets and liabilities denominated in foreign currency are remeasured to functional currency at the rates of exchange in effect at the balance sheet date with the resulting foreign exchange losses (gains) generally being recognized in the consolidated statements of operations. Foreign exchange losses (gains) related to available for sale investments denominated in foreign currency represent an unrealized appreciation (depreciation) in the market value of the securities and are included in AOCI. Non-monetary assets and liabilities denominated in foreign currency are not subsequently remeasured. The Company’s reporting currency is the U.S. dollar. Assets and liabilities of the Company's subsidiaries and branches where the functional currency is not the U.S. dollar, are translated into U.S. dollars using the rates of exchange in effect at the balance sheet date, and revenue and expenses are translated using the weighted average foreign exchange rates for the period. The effect of translation adjustments is reported as a separate component of AOCI in the consolidated statements of change shareholders’ equity. g) Share-based Compensation The Company is authorized to issue restricted shares, restricted stock units, performance restricted stock units, stock options, stock appreciation rights and other equity-based awards to its employees and directors. The Company's plan includes share-settled and cash-settled service and performance awards. Restricted Stock Units - Share-Settled and Cash-Settled The fair value of share-settled and cash-settled service awards is based on market value of the Company's common shares measured at the grant date and is expensed over the requisite service period. The fair value of the cash-settled service awards is recognized as a liability in the consolidated balance sheets and is remeasured at the end of each reporting period. The Company recognizes forfeitures when they occur. Performance Restricted Stock Units - Share-Settled and Cash-Settled The fair value of share-settled performance awards which include a market condition is measured on the grant date using a Monte Carlo simulation model which requires inputs including share price, expected volatility, expected term, expected dividend yield and risk-free interest rates. The fair value of share-settled and cash-settled performance awards which include a performance condition is based on market value of the Company's common shares measured at the grant date. The fair value of share-settled and cash-settled performance awards is recognized on a straight-line basis over the requisite service period. The fair value of the cash-settled performance awards is recognized as a liability in the consolidated balance sheets and is remeasured at the end of each reporting period. The Company recognizes forfeitures when they occur. h) Derivative Instruments The Company may enter into derivative instruments such as futures, options, interest rate swaps and foreign currency forward contracts as part of its overall foreign currency risk management strategy, to obtain exposure to a particular financial market or for yield enhancement. From time to time the Company may also enter into insurance and reinsurance contracts that meet the Financial Accounting Standards Board's ("FASB") definition of a derivative contract. The Company measures all derivative instruments at fair value (refer to Note 6 ' Fair Value Measurements ') and recognizes these instruments as either assets or liabilities in the consolidated balance sheets. Subsequent changes in fair value and any realized gains or losses are recognized in the consolidated statements of operations. i) Goodwill and Intangible Assets The Company recognizes goodwill and other intangible assets in connection with certain acquisitions. Goodwill represents the excess of the purchase price paid over the fair value of the net assets acquired in these acquisitions and is not amortized. Other intangible assets with a finite life are amortized over the estimated useful live of the intangible asset. Other intangible assets with an indefinite life are not amortized. The Company tests goodwill and indefinite intangible assets for potential impairment during the fourth quarter each year and between annual tests if an event occurs or changes in circumstances indicate that the asset is impaired. Such events or circumstances may include an economic downturn in a geographic market or a change in the assessment of future operations. For the purpose of evaluating goodwill for impairment, the Company may first perform a qualitative assessment to determine whether it is necessary to perform a quantitative goodwill impairment test. If determined to be necessary, the quantitative test compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired. If the carrying amount of the reporting unit exceeds the fair value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. For the purpose of evaluating indefinite lived intangibles for impairment, the Company may first perform a qualitative assessment to determine whether it is necessary to perform the quantitative impairment test. If the Company elects to perform a qualitative assessment, it first assesses qualitative factors to determine whether it is more likely than not that an indefinite lived intangible asset is impaired. If the Company determines that it is more likely than not that the indefinite lived intangible asset is impaired, the Company performs the quantitative impairment test. For the purposes of evaluating goodwill and indefinite lived intangible assets for impairment, the Company has an unconditional option to bypass the qualitative assessment in any period and proceed directly to performing the quantitative impairment test. The Company may resume performing the qualitative assessment in any subsequent period. For other definite lived intangible assets the Company tests for recoverability whenever events or changes in circumstances indicate its carrying amount may not be recoverable. The Company recognizes an impairment loss if the carrying amount of the asset is not recoverable and exceeds its fair value. The carrying amount of a definite lived intangible asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If goodwill or an intangible asset is impaired, the carrying value of the asset is reduced to fair value and a corresponding expense is recorded in the consolidated statements of operations. j) Income Taxes Certain subsidiaries and branches of the Company operate in jurisdictions where they are subject to taxation. Current and deferred income taxes are charged or credited to net income, or in certain cases to AOCI, based on enacted tax laws and rates applicable in the relevant jurisdiction in the period in which the tax becomes accruable or realizable. Deferred income taxes are provided for all temporary differences between the bases of assets and liabilities used in the consolidated balance sheets and those used in the various jurisdictional tax returns. When the assessment indicates that it is more likely than not that a portion of a deferred tax asset will not be realized in the foreseeable future, a valuation allowance against deferred tax assets is recorded. The Company recognizes the tax benefits of uncertain tax positions only when the position is more-likely-than-not to be sustained on audit by the relevant taxing authorities. k) Treasury Shares Common shares repurchased by the Company and not subsequently canceled are classified as treasury shares and are recorded at cost. This results in a reduction of shareholders’ equity in the consolidated balance sheets. The Company uses the average cost method to determine the cost of shares reissued from treasury. l) Leases The Company recognizes a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term related to office property and equipment leases. The Company accounts for non-lease components separately from lease components. As a result, the non-lease components associated with the Company's leases are not included in the lease liabilities and right-of-use assets in the Company's consolidated balance sheets.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
SEGMENT INFORMATION	AXIS Capital's underwriting operations are organized around its global underwriting platforms, AXIS Insurance and AXIS Re. The Company has determined that it has two reportable segments, insurance and reinsurance. The Company does not allocate its assets by segment, with the exception of goodwill and intangible assets. Insurance The Company's insurance segment offers specialty insurance products to a variety of niche markets on a worldwide basis. The product lines in this segment are property, marine, terrorism, aviation, credit and political risk, professional lines, liability, accident and health, and discontinued lines - Novae. Reinsurance The Company's reinsurance segment provides treaty reinsurance to insurance companies on a worldwide basis. The product lines in this segment are catastrophe, property, credit and surety, professional lines, motor, liability, engineering, agriculture, marine and aviation, accident and health, and discontinued lines - Novae. The following tables present the underwriting results of the Company's reportable segments, as well as the carrying amounts of allocated goodwill and intangible assets: At and year ended December 31, 2021 Insurance Reinsurance Total Gross premiums written $ 4,863,232 $ 2,822,752 $ 7,685,984 Net premiums written 2,894,885 2,031,739 4,926,624 Net premiums earned 2,651,339 2,058,511 4,709,850 Other insurance related income 1,662 21,633 23,295 Net losses and loss expenses (1,514,998) (1,493,785) (3,008,783) Acquisition costs (484,344) (437,490) (921,834) Underwriting-related general and administrative expenses (429,282) (107,552) (536,834) Underwriting income $ 224,377 $ 41,317 265,694 Net investment income 454,301 Net investment gains 134,279 Corporate expenses (126,470) Foreign exchange losses (315) Interest expense and financing costs (62,302) Reorganization expenses — Amortization of value of business acquired (3,854) Amortization of intangible assets (12,424) Income before income taxes and interest in income of equity method investments 648,909 Income tax expense (62,384) Interest in income of equity method investments 32,084 Net income 618,609 Preferred share dividends 30,250 Net income available to common shareholders $ 588,359 Net losses and loss expenses ratio 57.1 % 72.6 % 63.9 % Acquisition cost ratio 18.3 % 21.3 % 19.6 % General and administrative expense ratio 16.2 % 5.1 % 14.0 % Combined ratio 91.6 % 99.0 % 97.5 % Goodwill and intangible assets $ 309,518 $ — $ 309,518 At and year ended December 31, 2020 Insurance Reinsurance Total Gross premiums written $ 4,018,399 $ 2,808,539 $ 6,826,938 Net premiums written 2,357,501 1,978,908 4,336,409 Net premiums earned 2,299,038 2,072,271 4,371,309 Other insurance related income (loss) 2,647 (10,736) (8,089) Net losses and loss expenses (1,697,014) (1,584,238) (3,281,252) Acquisition costs (461,533) (467,984) (929,517) Underwriting-related general and administrative expenses (378,839) (99,129) (477,968) Underwriting income (loss) $ (235,701) $ (89,816) (325,517) Net investment income 349,601 Net investment gains 129,133 Corporate expenses (101,822) Foreign exchange losses (81,069) Interest expense and financing costs (75,049) Reorganization expenses (7,881) Amortization of value of business acquired (5,139) Amortization of intangible assets (11,390) Income (loss) before income taxes and interest in income (loss) of equity method investments (129,133) Income tax benefit 12,321 Interest in income (loss) of equity method investments (3,612) Net income (loss) (120,424) Preferred share dividends 30,250 Net income (loss) available (attributable) to common shareholders $ (150,674) Net losses and loss expenses ratio 73.8 % 76.4 % 75.1 % Acquisition cost ratio 20.1 % 22.6 % 21.3 % General and administrative expense ratio 16.5 % 4.8 % 13.2 % Combined ratio 110.4 % 103.8 % 109.6 % Goodwill and intangible assets $ 320,434 $ — $ 320,434 At and year ended December 31, 2019 Insurance Reinsurance Total Gross premiums written $ 3,675,931 $ 3,222,927 $ 6,898,858 Net premiums written 2,209,155 2,280,460 4,489,615 Net premiums earned 2,190,084 2,397,094 4,587,178 Other insurance related income 2,858 13,586 16,444 Net losses and loss expenses (1,278,679) (1,766,119) (3,044,798) Acquisition costs (468,281) (556,301) (1,024,582) Underwriting-related general and administrative expenses (401,963) (103,772) (505,735) Underwriting income (loss) $ 44,019 $ (15,512) 28,507 Net investment income 478,572 Net investment gains 91,233 Corporate expenses (129,096) Foreign exchange gains 12,041 Interest expense and financing costs (68,107) Reorganization expenses (37,384) Amortization of value of business acquired (26,722) Amortization of intangible assets (11,597) Income before income taxes and interest in income of equity method investments 337,447 Income tax expense (23,692) Interest in income of equity method investments 9,718 Net income 323,473 Preferred share dividends 41,112 Net income available to common shareholders $ 282,361 Net losses and loss expenses ratio 58.4 % 73.7 % 66.4 % Acquisition cost ratio 21.4 % 23.2 % 22.3 % General and administrative expense ratio 18.3 % 4.3 % 13.9 % Combined ratio 98.1 % 101.2 % 102.6 % Goodwill and intangible assets $ 332,553 $ — $ 332,553 The following table presents gross premiums written by the geographical location of the Company's subsidiaries: Years ended December 31, 2021 2020 2019 Bermuda $ 542,693 $ 602,432 $ 738,258 Ireland 1,667,496 1,516,596 1,679,646 U.S. 4,002,748 3,398,108 3,090,547 Lloyd's of London 1,473,047 1,309,802 1,390,407 Gross premiums written $ 7,685,984 $ 6,826,938 $ 6,898,858 The following table presents net premiums earned by segment and line of business: Years ended December 31, 2021 2020 2019 Insurance Property $ 662,977 $ 605,650 $ 633,550 Marine 354,193 293,746 281,764 Terrorism 47,995 47,378 47,345 Aviation 84,882 70,910 55,028 Credit and political risk 96,604 105,869 91,698 Professional lines 898,307 715,276 661,250 Liability 354,518 313,291 264,667 Accident and health 151,134 143,723 144,499 Discontinued lines - Novae 729 3,195 10,283 Total Insurance 2,651,339 2,299,038 2,190,084 Reinsurance Catastrophe 238,775 244,934 267,591 Property 231,080 256,244 311,625 Credit and surety 158,549 187,721 208,717 Professional lines 220,448 207,605 206,328 Motor 247,092 255,916 398,565 Liability 431,012 396,906 373,664 Engineering 28,238 60,521 63,899 Agriculture 82,744 73,696 188,925 Marine and aviation 58,678 53,516 59,209 Accident and health 361,197 333,996 319,619 Discontinued lines - Novae 698 1,216 (1,048) Total Reinsurance 2,058,511 2,072,271 2,397,094 Total $ 4,709,850 $ 4,371,309 $ 4,587,178

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	The table below provides details of goodwill and intangible assets related to the Company's insurance segment: Goodwill Intangible Intangible Total At December 31, 2019 Gross amount $ 97,092 $ 120,784 $ 404,304 $ 622,180 Accumulated amortization n/a n/a (247,804) (247,804) Accumulated translation adjustment 4,911 — — 4,911 102,003 120,784 156,500 379,287 Amortization n/a n/a (37,742) (37,742) Impairment charges — — — — At December 31, 2020 Gross amount 97,092 120,784 394,604 612,480 Accumulated amortization n/a n/a (275,846) (275,846) Accumulated translation adjustment 4,911 — — 4,911 102,003 120,784 118,758 341,545 Amortization n/a n/a (16,055) (16,055) Impairment charges (1,202) — — (1,202) At December 31, 2021 Gross amount 95,890 120,784 394,604 611,278 Accumulated amortization n/a n/a (291,901) (291,901) Accumulated translation adjustment 4,911 — — 4,911 100,801 120,784 102,703 324,288 Amortization n/a n/a (14,770) (14,770) Impairment charges — — — — $ 100,801 $ 120,784 $ 87,933 $ 309,518 n/a – not applicable Intangible Assets with an Indefinite Life Intangible assets with an indefinite life include U.S. state licenses that provide a legal right to transact business indefinitely and the value of Lloyd's syndicate capacity, which represents the right to underwrite a certain allocated limit of premium in the Lloyd's market. Impairment Review For the year ended December 31, 2021, the Company's impairment review of goodwill and indefinite lived intangibles did not result in the recognition of an impairment loss. For the year ended December 31, 2020, an impairment loss of $1 million was recognized related to the exit from certain program business. For the year ended December 31, 2019, the Company's impairment review of goodwill and indefinite lived intangibles did not result in the recognition of an impairment loss. The tables below provide details of the gross amount and accumulated amortization by category of VOBA and intangible assets: VOBA and intangible assets At December 31, 2021 Gross amount Accumulated amortization Total U.S. state licenses $ 26,036 n/a $ 26,036 Syndicate capacity (2) 94,748 n/a 94,748 Customer relationships and customers lists - Ternian (1) 13,330 (8,997) 4,333 VOBA - Novae (2) 256,942 (256,942) — Coverholders (2) 63,565 (22,514) 41,051 Large brokers (2) 46,641 (13,215) 33,426 SME brokers (2) 14,126 (5,003) 9,123 $ 515,388 $ (306,671) $ 208,717 n/a – not applicable (1) On April 1, 2015, the Company completed its acquisition of Ternian Insurance Group LLC and recognized the definite life intangible assets detailed above. (2) On October 2, 2017, the Company acquired Novae and recognized finite lived intangible assets, including Value of Business Acquired ("VOBA"), distribution networks, and indefinite lived intangible assets related to Lloyd's syndicate capacity, all detailed above. VOBA and intangible assets At December 31, 2020 Gross amount Accumulated amortization Total U.S. state licenses $ 26,036 n/a $ 26,036 Customer relationships and customers lists - Ternian (1) 13,330 (7,665) 5,665 VOBA - Novae (2) 256,942 (253,088) 3,854 Syndicate capacity (2) 94,748 n/a 94,748 Coverholders (2) 63,565 (17,216) 46,349 Large brokers (2) 46,641 (10,106) 36,535 SME brokers (2) 14,126 (3,826) 10,300 $ 515,388 $ (291,901) $ 223,487 n/a – not applicable (1) On April 1, 2015, the Company completed its acquisition of Ternian Insurance Group LLC and recognized the definite life intangible assets detailed above. (2) On October 2, 2017, the Company acquired Novae and recognized finite lived intangible assets, including Value of Business Acquired ("VOBA"), distribution networks, and indefinite lived intangible assets related to Lloyd's syndicate capacity, all detailed above. The table below provides details of estimated amortization expense of intangible assets with a finite life: Total 2022 $ 10,916 2023 10,916 2024 10,916 2025 9,921 2026 9,583 After 2026 35,681 Total remaining amortization expense 87,933 Indefinite lived intangible assets 120,784 Total intangible assets $ 208,717 The estimated remaining average useful life of finite lived intangible assets is 9 years.

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	a) Fixed Maturities and Equity Securities Fixed Maturities The following table provides the amortized cost and fair values of the Company's fixed maturities classified as available for sale: Amortized Allowance for expected credit losses Gross Gross Fair At December 31, 2021 Available for sale U.S. government and agency $ 2,693,319 $ — $ 9,776 $ (20,647) $ 2,682,448 Non-U.S. government 794,705 — 10,158 (9,685) 795,178 Corporate debt 4,446,585 (236) 87,075 (38,112) 4,495,312 Agency RMBS (1) 1,065,973 — 17,397 (8,781) 1,074,589 CMBS (2) 1,223,051 — 29,827 (4,687) 1,248,191 Non-agency RMBS 185,854 (77) 2,410 (2,023) 186,164 ABS (3) 1,628,739 — 3,406 (9,665) 1,622,480 Municipals (4) 203,556 — 5,928 (646) 208,838 Total fixed maturities, available for sale $ 12,241,782 $ (313) $ 165,977 $ (94,246) $ 12,313,200 At December 31, 2020 Available for sale U.S. government and agency $ 1,881,489 $ — $ 38,969 $ (1,759) $ 1,918,699 Non-U.S. government 632,875 — 38,826 (428) 671,273 Corporate debt 4,408,351 (303) 254,261 (6,358) 4,655,951 Agency RMBS (1) 1,244,727 — 42,170 (688) 1,286,209 CMBS (2) 1,268,273 — 87,598 (2,284) 1,353,587 Non-agency RMBS 136,198 (20) 4,604 (678) 140,104 ABS (3) 1,712,236 — 14,527 (6,685) 1,720,078 Municipals (4) 282,781 — 13,148 (31) 295,898 Total fixed maturities, available for sale $ 11,566,930 $ (323) $ 494,103 $ (18,911) $ 12,041,799 (1) Residential mortgage-backed securities ("RMBS") originated by U.S. government-sponsored agencies. (2) Commercial mortgage-backed securities ("CMBS"). (3) Asset-backed securities ("ABS") include debt tranched securities collateralized primarily by auto loans, student loans, credit card receivables and collateralized loan obligations ("CLOs"). (4) Municipals include bonds issued by states, municipalities and political subdivisions. The following table provides the amortized cost and fair values of the Company's fixed maturities classified as held to maturity: Amortized cost Allowance for expected credit losses Net carrying value Gross Gross unrealized losses Fair value At December 31, 2021 Held to maturity Corporate debt $ 37,700 $ — $ 37,700 $ 18 $ (146) $ 37,572 ABS (1) 408,316 — 408,316 81 (936) 407,461 Total fixed maturities, held to maturity $ 446,016 $ — $ 446,016 $ 99 $ (1,082) $ 445,033 (1) Asset-backed securities ("ABS") include debt tranched securities collateralized primarily by collateralized loan obligations ("CLOs"). On March 1, 2021, the Company transferred ABS securities with total fair value of $405 million from fixed maturities, available for sale to fixed maturities, held to maturity. These securities, which the Company has the intent and ability to hold to maturity, were transferred in order to better align the accounting classification with their management strategy. The net unrealized gain at the date of the transfer, March 1, 2021, continues to be reported in the carrying value of the transferred securities and is amortized over the remaining life of the securities using the effective yield method. Fixed maturities, held to maturity of $446 million at December 31, 2021 were presented net of an allowance for expected credit losses of $nil. The Company's ABS, held to maturity consist of CLO debt tranched securities. The Company uses a scenario-based approach to review its CLO debt portfolio and reviews subordination levels of these securities to determine their ability to absorb credit losses of the underlying collateral. If losses are forecast to be below the subordination level for a tranche held by the Company, the security is determined not to have a credit loss. At December 31, 2021, the allowance for credit losses expected to be recognized over the life of the Company's ABS, held to maturity was $nil. To estimate expected credit losses for corporate debt securities, held to maturity, the Company's projected cash flows are primarily driven by assumptions regarding the severity of loss, which is a function of the probability of default and projected recovery rates. The Company's default and recovery rates are based on credit ratings, credit analysis and macroeconomic forecasts. At December 31, 2021, the allowance for credit losses expected to be recognized over the life of the Company's corporate debt, held to maturity was $nil. Equity Securities The following table provides the cost and fair values of the Company's equity securities: Cost Gross Gross Fair At December 31, 2021 Equity securities Common stocks $ 1,264 $ 585 $ (485) $ 1,364 Preferred stocks 115 64 — 179 Exchange-traded funds 203,455 134,037 (677) 336,815 Bond mutual funds 324,030 544 (7,257) 317,317 Total equity securities $ 528,864 $ 135,230 $ (8,419) $ 655,675 At December 31, 2020 Equity securities Common stocks $ 10,810 $ 689 $ (557) $ 10,942 Preferred stocks 6,301 1,767 — 8,068 Exchange-traded funds 147,794 74,314 (390) 221,718 Bond mutual funds 256,839 20,878 — 277,717 Total equity securities $ 421,744 $ 97,648 $ (947) $ 518,445 In the normal course of investing activities, the Company actively manages allocations to non-controlling tranches of structured securities which are variable interests issued by Variable Interest Entities ("VIEs"). These structured securities include RMBS, CMBS and ABS. The Company also invests in limited partnerships which represent 71% of the Company's other investments. The investments in limited partnerships include hedge funds, direct lending funds, private equity funds, real estate funds and CLO equity tranched securities, which are variable interests issued by VIEs (refer to Note 5(c) ' Other Investments '). The Company does not have the power to direct the activities that are most significant to the economic performance of these VIEs therefore the Company is not the primary beneficiary of these VIEs. The maximum exposure to loss on these interests is limited to the amount of commitment made by the Company. The Company has not provided financial or other support to these structured securities other than the original investment. Contractual Maturities of Fixed Maturities Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The table below provides the contractual maturities of fixed maturities classified as available for sale: Amortized Fair % of Total At December 31, 2021 Maturity Due in one year or less $ 503,716 $ 505,602 4.1 % Due after one year through five years 4,878,151 4,908,640 39.9 % Due after five years through ten years 2,478,542 2,488,478 20.2 % Due after ten years 277,756 279,056 2.3 % 8,138,165 8,181,776 66.5 % Agency RMBS 1,065,973 1,074,589 8.7 % CMBS 1,223,051 1,248,191 10.1 % Non-agency RMBS 185,854 186,164 1.5 % ABS 1,628,739 1,622,480 13.2 % Total $ 12,241,782 $ 12,313,200 100.0 % At December 31, 2020 Maturity Due in one year or less $ 436,287 $ 444,527 3.6 % Due after one year through five years 4,165,696 4,335,219 36.0 % Due after five years through ten years 2,344,859 2,489,050 20.7 % Due after ten years 258,654 273,025 2.3 % 7,205,496 7,541,821 62.6 % Agency RMBS 1,244,727 1,286,209 10.7 % CMBS 1,268,273 1,353,587 11.2 % Non-agency RMBS 136,198 140,104 1.2 % ABS 1,712,236 1,720,078 14.3 % Total $ 11,566,930 $ 12,041,799 100.0 % ABS classified as held to maturity with a net carrying value of $408 million (2020: $nil) do not have a single maturity date and cannot be allocated over several maturity groupings. Corporate debt classified as held to maturity with a net carrying value of $34 million (2020: $nil) is due between five years and ten years and Corporate debt classified as held to maturity with a net carrying value of $4 million ((2020: $nil) is due after ten years. Gross Unrealized Losses The following table summarizes fixed maturities, available for sale in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position: 12 months or greater Less than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized At December 31, 2021 Fixed maturities, available for sale U.S. government and agency $ 101,776 $ (4,852) $ 2,014,880 $ (15,795) $ 2,116,656 $ (20,647) Non-U.S. government 11,011 (1,830) 463,498 (7,855) 474,509 (9,685) Corporate debt 152,962 (6,542) 1,681,859 (31,570) 1,834,821 (38,112) Agency RMBS 41,024 (1,678) 503,988 (7,103) 545,012 (8,781) CMBS 30,128 (1,001) 347,515 (3,686) 377,643 (4,687) Non-agency RMBS 4,481 (523) 109,937 (1,500) 114,418 (2,023) ABS 43,466 (1,152) 1,040,363 (8,513) 1,083,829 (9,665) Municipals 5,293 (137) 35,649 (509) 40,942 (646) Total fixed maturities, available for sale $ 390,141 $ (17,715) $ 6,197,689 $ (76,531) $ 6,587,830 $ (94,246) At December 31, 2020 Fixed maturities, available for sale U.S. government and agency $ — $ — $ 251,606 $ (1,759) $ 251,606 $ (1,759) Non-U.S. government 16,115 (262) 3,652 (166) 19,767 (428) Corporate debt 63,640 (2,244) 233,970 (4,114) 297,610 (6,358) Agency RMBS 6,580 (20) 78,672 (668) 85,252 (688) CMBS 19,736 (1,012) 70,656 (1,272) 90,392 (2,284) Non-agency RMBS 5,109 (598) 9,558 (80) 14,667 (678) ABS 325,436 (4,011) 360,402 (2,674) 685,838 (6,685) Municipals — — 11,881 (31) 11,881 (31) Total fixed maturities, available for sale $ 436,616 $ (8,147) $ 1,020,397 $ (10,764) $ 1,457,013 $ (18,911) Fixed Maturities At December 31, 2021, 2,333 fixed maturities (2020: 719) were in an unrealized loss position of $94 million (2020: $19 million) of which $8 million (2020: $7 million) was related to securities below investment grade or not rated. At December 31, 2021, 344 fixed maturities (2020: 249) had been in a continuous unrealized loss position for twelve months or greater and had a fair value of $390 million (2020: $437 million). The unrealized losses of $94 million (2020: $19 million) were due to non-credit factors and were expected to be recovered as the related securities approach maturity. At December 31, 2021, the Company did not intend to sell the securities in an unrealized loss position and it is more likely than not that the Company will not be required to sell these securities before the anticipated recovery of their amortized costs. b) Mortgage Loans The following table provides details of the Company's mortgage loans held for investment: December 31, 2021 December 31, 2020 Carrying value % of Total Carrying value % of Total Mortgage loans held for investment: Commercial $ 594,088 100 % $ 593,290 100 % Total mortgage loans held for investment $ 594,088 100 % $ 593,290 100 % The primary credit quality indicators for commercial mortgage loans are the debt service coverage ratio which compares a property’s net operating income to amounts needed to service the principal and interest due under the loan, (generally, the lower the debt service coverage ratio, the higher the risk of experiencing a credit loss) and the loan-to-value ratio which compares the unpaid principal balance of the loan to the estimated fair value of the underlying collateral (generally, the higher the loan-to-value ratio, the higher the risk of experiencing a credit loss). The debt service coverage ratio and loan-to-value ratio, as well as the values utilized in calculating these ratios, are updated annually, on a rolling basis. The Company has a high quality mortgage loan portfolio with a weighted average debt service coverage rat io of 2.5x (2020: 2.4x) and a weighted average loan-to-value ratio of 60% (2020: 60%) . At December 31, 2021 and 2020, there were no credit losses or past due amounts associated with the commercial mortgage loans held by the Company. c) Other Investments The following table provides a summary of the Company's other investments, together with additional information relating to the liquidity of each category: Fair value Redemption frequency Redemption At December 31, 2021 Long/short equity funds $ 3,476 — % Annually 60 days Multi-strategy funds 56,012 6 % Quarterly 60-90 days Direct lending funds 289,867 31 % Quarterly (1) 90 days Private equity funds 249,974 26 % n/a n/a Real estate funds 238,222 25 % Quarterly (2) 45 days CLO-Equities 5,910 1 % n/a n/a Other privately held investments 104,521 11 % n/a n/a Overseas deposits — — % n/a n/a Total other investments $ 947,982 100 % At December 31, 2020 Long/short equity funds $ 25,300 3 % Annually 60 days Multi-strategy funds 121,420 15 % Quarterly, Semi-annually 60-95 days Direct lending funds 272,131 33 % Quarterly (1) 90 days Private equity funds 124,706 15 % n/a n/a Real estate funds 164,250 20 % Quarterly (2) 45 days CLO-Equities 6,173 1 % n/a n/a Other privately held investments 70,011 8 % n/a n/a Overseas deposits 45,165 5 % n/a n/a Total other investments $ 829,156 100 % n/a – not applicable (1) Applies to one fund with a fair value of $47 million (2020: $38 million). (2) Applies to one fund with a fair value of $73 million (2020: $61 million). The investment strategies for the above funds are as follows: • Long/short equity funds : Seek to achieve attractive returns primarily by executing an equity trading strategy involving long and short investments in publicly-traded equity securities. • Multi-strategy funds : Seek to achieve above-market returns by pursuing multiple investment strategies to diversify risks and reduce volatility. This category includes funds of hedge funds which invest in a large pool of hedge funds across a diversified range of hedge fund strategies. • Direct lending funds : Seek to achieve attractive risk-adjusted returns, including current income generation, by investing in funds which provide financing directly to borrowers. • Private equity funds : Seek to achieve attractive risk-adjusted returns by investing in private transactions over the course of several years. • Real estate funds : Seek to achieve attractive risk-adjusted returns by making and managing investments in real estate and real estate securities and businesses. Two common redemption restrictions which may impact the Company's ability to redeem hedge funds are gates and lockups. A gate is a suspension of redemptions which may be implemented by the general partner or investment manager of the fund in order to defer, in whole or in part, the redemption request in the event the aggregate amount of redemption requests exceeds a predetermined percentage of the fund’s net assets which may otherwise hinder the general partner or investment manager’s ability to liquidate holdings in an orderly fashion in order to generate the cash necessary to fund extraordinarily large redemption payouts. A lockup period is the initial amount of time an investor is contractually required to hold the security before having the ability to redeem. During 2021 and 2020, neither of these restrictions impacted the Company's redemption requests. At December 31, 2021, $3 million (2020: $25 million), representing 6% (2020: 17%) of total hedge funds, relate to holdings where the Company is still within the lockup period. The expiration of this lockup period is March 2022 . At December 31, 2021, the Company had $224 million (2020: $151 million) of unfunded commitments as a limited partner in direct lending funds. Once the full amount of committed capital has been called by the General Partner of each of these funds, the assets will not be fully returned until the completion of the fund's investment term. These funds have investment terms ranging from four At December 31, 2021, the Company had $23 million (2020: $20 million) of unfunded commitments as a limited partner in multi-strategy hedge funds. Once the full amount of committed capital has been called by the General Partner of each of these funds, the assets will not be fully returned until after the completion of the funds' investment term. These funds have investment terms ranging from two years to the dissolution of the underlying fund. At December 31, 2021, the Company had $173 million (2020: $201 million) of unfunded commitments as a limited partner in funds which invest in real estate and real estate securities and businesses. These funds include an open-ended fund and funds with investment terms ranging from two years to the dissolution of the underlying fund. At December 31, 2021, the Company had $178 million (2020: $166 million) of unfunded commitments as a limited partner in private equity funds. The life of the funds is subject to the dissolution of the underlying funds. The Company expects the overall holding period to be over five years. During 2015, the Company made a $50 million commitment as a limited partner of a bank revolver opportunity fund. The fund has an investment term of seven years and the General Partners have the option to extend the term by up to two years. At December 31, 2021, this commitment remains unfunded. It is not anticipated that the full amount of this fund will be drawn. d) Equity Method Investments During 2016, the Company paid $108 million including direct transaction costs to acquire 19% of the common equity of Harrington Reinsurance Holdings Limited ("Harrington"), the parent company of Harrington Re Ltd. ("Harrington Re"), an independent reinsurance company jointly sponsored by the Company and The Blackstone Group L.P. ("Blackstone"). Through long-term service agreements, the Company will serve as Harrington Re's reinsurance underwriting manager and Blackstone will serve as exclusive investment management service provider. As an investor, the Company expects to benefit from underwriting profit generated by Harrington Re and the income and capital appreciation Blackstone seeks to deliver through its investment management services. In addition, the Company has entered into an arrangement with Blackstone under which underwriting and investment related fees will be shared equally. Harrington is not a VIE that is required to be included in the Company's consolidated financial statements. The Company accounts for its ownership interest in Harrington under the equity method of accounting. The Company's proportionate share of the underlying equity in net assets resulted in a basis difference of $5 million which represents initial transactions costs. e) Net Investment Income Net investment income was derived from the following sources: Year ended December 31, 2021 2020 2019 Fixed maturities $ 262,049 $ 317,121 $ 384,053 Other investments 181,906 16,059 60,038 Equity securities 12,752 9,328 10,434 Mortgage loans 17,427 15,432 14,712 Cash and cash equivalents 4,454 13,582 26,882 Short-term investments 664 2,749 7,053 Gross investment income 479,252 374,271 503,172 Investment expenses (24,951) (24,670) (24,600) Net investment income $ 454,301 $ 349,601 $ 478,572 f) Net Investment Gains (Losses) The following table provides an analysis of net investment gains (losses): Year ended December 31, 2021 2020 2019 Gross realized investment gains Fixed maturities and short-term investments $ 137,729 $ 186,726 $ 93,160 Equity securities 5,413 25,648 3,449 Gross realized investment gains 143,142 212,374 96,609 Gross realized investment losses Fixed maturities and short-term investments (42,613) (94,607) (56,515) Equity securities (696) (5,840) (323) Gross realized investment losses (43,309) (100,447) (56,838) Change in allowance for expected credit losses 11 (323) — Impairment losses (1) (22) (1,486) — OTTI losses — — (6,984) Change in fair value of investment derivatives (2) 4,346 (2,434) (1,823) Net unrealized gains (losses) on equity securities 30,111 21,449 60,269 Net investment gains $ 134,279 $ 129,133 $ 91,233 (1) Related to instances where the Company intends to sell securities or it is more likely than not that the Company will be required to sell securities before their anticipated recovery. (2) Refer to Note 7 'Derivative Instruments'. The following table provides a reconciliation of the beginning and ending balances of the allowance for expected credit losses on fixed maturities classified as available for sale: Year ended December 31, 2021 2020 2019 Balance at beginning of period $ 323 $ — $ — Expected credit losses on securities where credit losses were not previously recognized 95 22,570 — Additions (reductions) for expected credit losses on securities where credit losses were previously recognized 50 (11,542) — Impairments of securities which the Company intends to sell or more likely than not will be required to sell — — — Securities sold/redeemed/matured (155) (10,705) — Balance at end of period $ 313 $ 323 $ — The following table summarizes the OTTI charge recognized in net income by asset class: Year ended December 31, 2021 2020 2019 Fixed maturities: Non-U.S. government $ — $ — $ 90 Corporate debt — — 6,894 Non-agency CMBS — — — Total OTTI recognized in net income $ — $ — $ 6,984 Fixed Maturities The Company evaluates available for sale securities for expected credit losses when fair value is below amortized cost. If the Company intends to sell or will be required to sell the security before its anticipated recovery, the full amount of the impairment loss is charged to net income. If the Company does not intend to sell or will not be required to sell the security before its anticipated recovery, an allowance for expected credit losses is established and the portion of the loss that relates to credit losses is recorded in net income. Effective January 1, 2020, the Company adopted the targeted changes to the impairment model for available for sale securities. The updated guidance amends the previous OTTI impairment model by requiring the recognition of impairments related to credit losses through an allowance account and limits the amount of credit loss to the difference between a security's amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position no longer impacts the determination of whether a credit loss exists. A summary of credit loss activity by asset class, the significant inputs and the methodology used to estimate credit losses are described below. U.S. Government, U.S. Agency and U.S. Agency RMBS Unrealized losses on securities issued or backed, either explicitly or implicitly by the U.S. government are not analyzed for credit losses. The Company has concluded that the possibility of a credit loss on these securities is highly unlikely due to the explicit U.S. government guarantee related to certain securities (e.g. Government National Mortgage Association issuances) and the implicit guarantee related to other securities that has been validated by past actions (e.g. U.S. government bailout of Federal National Mortgage Association and Federal Home Loan Mortgage Corporation during the 2008 credit crisis). Although these securities are not analyzed for credit losses, they are evaluated for intention to sell and likely requirement to sell. Non-U.S. Government Non-U.S. government securities are evaluated for expected credit losses primarily through qualitative assessments of the likelihood of credit losses using information such as severity of unrealized losses, credit ratings and price volatility. At December 31, 2021, the gross unrealized losses of $10 million were mainly due to foreign exchange losses. At December 31, 2021, the Company does not anticipate any credit losses on its non-U.S. government fixed maturities. At December 31, 2020, the gross unrealized losses were less than $1 million and were mainly due to foreign exchange losses. At December 31, 2020, the Company did not anticipate any credit losses on its non-U.S. government fixed maturities. Corporate Debt To estimate expected credit losses for corporate debt securities, the Company's projected cash flows are primarily driven by assumptions regarding the severity of loss, probability of default and projected recovery rates. The Company's default and loss severity rates are based on credit rating, credit analysis and macroeconomic forecasts. In 2021 and 2020, the allowance for expected credit losses on corporate debt securities mainly related to loss severity where the forecasted recovery to amortized cost was uncertain. CMBS The Company's investments in CMBS are diversified and primarily rated AA or better. At December 31, 2021, CMBS had a weighted average estimated subordination percentage of 37% (2020: 29%). Based on discounted cash flows at December 31, 2021 and 2020, the current level of subordination is sufficient to cover the estimated loan losses on the underlying collateral of the CMBS. Non-agency RMBS To estimate expected credit losses for non-agency RMBS, the Company's projected cash flows incorporated underlying data from widely accepted third-party data sources along with certain internal assumptions and judgments regarding the future performance of the security. These assumptions included default, delinquency, loss severity and prepayment rates. The assumptions used to calculate credit losses in 2021 have not changed significantly since December 31, 2020. At December 31, 2021, the fair value of the Company's non-agency RMBS was $186 million (2020: $140 million), consisting primarily of $87 million (2020: $85 million) of Prime and $74 million (2020: $23 million) of Alt-A MBS. At December 31, 2021, the allowance for expected credit losses on non-agency RMBS related to loss severity where the forecasted recovery to amortized cost is uncertain. ABS The Company's investments in ABS consist mainly of CLO debt tranched securities ("CLO Debt") purchased primarily as new issues between 2018 and 2021. Substantially all of these new issues had credit ratings of AA or better. The Company utilizes a scenario-based approach to review its CLO Debt portfolio based on the current asset market price. The Company also reviews subordination levels of these securities to determine their ability to absorb credit losses of underlying collateral. If losses are forecast to be below the subordination level for a tranche held by the Company, the security is determined not to have a credit loss. At December 31, 2021 and 2020, the Company does not anticipate any credit losses on its CLO Debt. g) Restricted Assets In order to support the Company's obligations in regulatory jurisdictions where it operates as a non-admitted carrier, the Company provides collateral in the form of assets held in trust and, to a lesser extent, letters of credit (refer to Note 10(b) ' Debt and Financing Arrangement s'). In addition, the Company operates in the Lloyd’s market through its corporate members, AXIS Corporate Capital UK Limited and AXIS Corporate Capital UK II Limited, which provide 70% and 30%, respectively of Syndicate 1686's capital support. Lloyd’s sets capital requirements for corporate members annually through the application of a capital model that is based on regulatory rules pursuant to Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking up and pursuit of business of Insurance and Reinsurance (Solvency II) ("Solvency II"). The capital provided to support underwriting, or Funds at Lloyd’s ("FAL"), may be satisfied by cash, certain investments and letters of credit provided by approved banks (refer to Note 11 'Commitments and Contingencies' and Note 21 ' Statutory Financial Information' ). At December 31, 2021 collateral held in trust for third-party agreements of $2,413 million (2020: $1,903 million) in cluded $507 million (2020: $297 million) of fixed maturities and equity securities, and cash of $326 million (2020: $178 million) held on deposit to support the underwriting activities of Syndicate 1686. The Company's restricte d investments and cash pr imarily consist of high-quality fixed maturity and short-term investment securities. The table below provides the fair values of the Company's restr icted investments and cash: At December 31, 2021 2020 Collateral in Trust for inter-company agreements $ 886,903 $ 1,153,157 Collateral for secured letter of credit facility 402,478 434,845 Funds at Lloyd's 936,862 1,155,832 Collateral in Trust for third-party agreements 2,412,882 1,903,274 Securities on deposit or in trust with regulatory authorities 729,072 265,959 Total restricted investments and cash $ 5,368,197 $ 4,913,067 h) Reverse Repurchase Agreements At December 31, 2021, the Company held no (2020: $91 million) reverse repurchase agreements. These loans are fully collateralized, are generally outstanding for a short period of time and are presented on a gross basis as part of cash and cash equivalents in the Company's consolidated balance sheets. The required collateral for these loans is either cash or U.S. Treasuries at a minimum rate of 102% of the loan principal. At maturity, the Company receives principal and interest income. The Company monitors the estimated fair value of the securities loaned and borrowed on a daily basis with additional collateral obtained as necessary throughout the duration of the transaction.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	Fair Value Hierarchy Fair value is defined as the price to sell an asset or transfer a liability (i.e. the "exit price") in an orderly transaction between market participants. U.S. GAAP prescribes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to quoted prices in active markets and the lowest priority to unobservable data. The level in the hierarchy within which a given fair value measurement falls is determined based on the lowest level input that is significant to the measurement. The hierarchy is broken down into three levels as follows: • Level 1 - Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 - Valuations based on quoted prices in active markets for similar assets or liabilities, quoted prices for identical assets or liabilities in inactive markets, or for which significant inputs are observable (e.g. interest rates, yield curves, prepayment speeds, default rates, loss severities, etc.) or can be corroborated by observable market data. • Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The unobservable inputs reflect the Company's judgments about assumptions that market participants might use. The availability of observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, for example, the type of financial instrument, whether the financial instrument is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires significantly more judgment. Accordingly, the degree of judgment exercised by management in determining fair value is greatest for financial instruments categorized as Level 3. In periods of market dislocation, the observability of prices and inputs may be reduced for many financial instruments. This may lead the Company to change the selection of valuation technique (from market to cash flow approach) or may cause the Company to use multiple valuation techniques to estimate the fair value of a financial instrument. This circumstance could cause an instrument to be reclassified between levels within the fair value hierarchy. Valuation Techniques The valuation techniques, including significant inputs and assumptions generally used to determine the fair values of the Company's financial instruments as well as the classification of the fair values of its financial instruments in the fair value hierarchy are described in detail below. Fixed Maturities At each valuation date, the Company uses the market approach valuation technique to estimate the fair value of its fixed maturities portfolio, where possible. The market approach includes, but is not limited to, prices obtained from third-party pricing services for identical or comparable securities and the use of "pricing matrix models" using observable market inputs such as yield curves, credit risks and spreads, measures of volatility, and prepayment speeds. Pricing from third-party pricing services is sourced from multiple vendors, where available, and the Company maintains a vendor hierarchy by asset type based on historical pricing experience and vendor expertise. Where prices are unavailable from pricing services, the Company obtains non-binding quotes from broker-dealers who are active in the corresponding markets. The valuation techniques including significant inputs and assumptions generally used to determine the fair values of the Company's fixed maturities by asset class as well as the classifications of the fair values of these securities in the fair value hierarchy are described in detail below. U.S. Government and Agency U.S. government and agency securities consist primarily of bonds issued by the U.S. Treasury and mortgage pass-through agencies such as the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation and the Government National Mortgage Association. As the fair values of U.S. Treasury securities are based on unadjusted quoted market prices in active markets, the fair values of these securities are classified as Level 1. The fair values of U.S. government agency securities are determined using the spread above the risk-free yield curve. As the yields for the risk-free yield curve and the spreads are observable market inputs, the fair values of U.S. government agency securities are classified as Level 2. Non-U.S. Government Non-U.S. government securities include bonds issued by non-U.S. governments and their agencies along with supranational organizations (collectively also known as sovereign debt securities). The fair values of these securities are based on prices obtained from international indices or valuation models that include inputs such as interest rate yield curves, cross-currency basis index spreads and country credit spreads for structures similar to the sovereign bond in terms of issuer, maturity and seniority. As the significant inputs used to price these securities are observable market inputs, the fair values of non-U.S. government securities are classified as Level 2. Corporate Debt Corporate debt securities consist primarily of investment grade debt of a wide variety of corporate issuers and industries. The fair values of these securities are generally determined using the spread above the risk-free yield curve. These spreads are generally obtained from the new issue market, secondary trading and broker-dealer quotes. As the yields for the risk-free yield curve and the spreads are observable market inputs, the fair values of corporate debt securities are generally classified as Level 2. Where pricing is unavailable from pricing services, the Company obtains non-binding quotes from broker-dealers to estimate fair value. This is generally the case when there is a low volume of trading activity and current transactions are not orderly. In this event, the fair values of these securities are classified as Level 3. Agency RMBS Agency RMBS consist of bonds issued by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation and the Government National Mortgage Association. The fair values of these securities are priced using a mortgage pool specific model which uses daily inputs from the active to be announced market and the spread associated with each mortgage pool based on vintage. As the significant inputs used to price these securities are observable market inputs, the fair values of Agency RMBS are classified as Level 2. CMBS CMBS mainly include investment grade bonds originated by non-agencies. The fair values of these securities are determined using a pricing model which uses dealer quotes and other available trade information along with security level characteristics to determine deal specific spreads. As the significant inputs used to price these securities are observable market inputs, the fair values of CMBS are generally classified as Level 2. Where pricing is unavailable from pricing services, the Company obtains non-binding quotes from broker-dealers to estimate fair value. This is generally the case when there is a low volume of trading activity and current transactions are not orderly. I n this event, the fair values of these securities are classified as Level 3. Non-agency RMBS Non-agency RMBS mainly include investment grade bonds originated by non-agencies. The fair values of these securities are determined using an option adjusted spread model or other relevant models, which use inputs including available trade information or broker quotes, prepayment and default projections based on historical statistics of the underlying collateral and current market data. As the significant inputs used to price these securities are observable market inputs, the fair values of non-agency RMBS are generally classified as Level 2. Where pricing is unavailable from pricing services, the Company obtains non-binding quotes from broker-dealers to estimate fair value. This is generally the case when there is a low volume of trading activity and current transactions are not orderly. In this event, the fair values of these securities are classified as Level 3. ABS ABS mainly include investment grade bonds backed by pools of loans with a variety of underlying collateral, including auto loans, student loans, credit card receivables and collateralized loan obligations ("CLOs"), originated by a variety of financial institutions. The fair values of these securities are determined using a model which uses prepayment speeds and spreads sourced primarily from the new issue market. As the significant inputs used to price these securities are observable market inputs, the fair values of ABS are generally classified as Level 2. Where pricing is unavailable from pricing services, the Company obtains non-binding quotes from broker-dealers t o estimate fair value. This is generally the case when there is a low volume of trading activity and current transactions are not orderly. In this event, the fair values of these securities are classified as Level 3. Municipals Municipals comprise revenue bonds and general obligation bonds issued by U.S. domiciled state and municipal entities. The fair values of these securities are determined using spreads obtained from the new issue market, trade prices and broker-dealers quotes. As the significant inputs used to price these securities are observable market inputs, the fair values of municipals are classified as Level 2. Equity Securities Equity securities include common stocks, preferred stocks, exchange-traded funds and bond mutual funds. As the fair values of common stocks, preferred stocks and exchange-traded funds are based on unadjusted quoted market prices in active markets, the fair values of these securities are classified as Level 1. As bond mutual funds have daily liquidity, the fair values of these securities are classified as Level 2. Other Investments The fair value of an indirect investment in CLO-Equities is estimated using an income approach valuation technique, specifically an externally developed discounted cash flow model due to the lack of observable and relevant trades in secondary markets. As the significant inputs used to price this security are unobservable, the fair value of the indirect investment in CLO-Equities is classified as Level 3. Other privately held investments include convertible preferred shares, common shares, convertible notes, investments in limited partnerships and a variable yield security. These investments are initially valued at cost, which approximates fair value. In subsequent measurement periods, the fair value of these investments is derived from one or a combination of valuation methodologies which consider factors including recent capital raises by the investee companies, comparable precedent transaction multiples, comparable publicly traded multiples, third-party valuations, discounted cash-flow models, and other techniques that account for the industry and development stage for each investee company. The fair value of the variable yield security is determined using an externally developed discounted cash flow model. In order to assess the reasonableness of the information received from investee companies, the Company maintains an understanding of current market conditions, historical results, and emerging trends that may impact the results of operations, financial condition or liquidity of these companies. In addition, the Company engages in regular communication with management at investee companies. As the significant inputs used to price these investments are unobservable, the fair values of other privately held investments are classified as Level 3. At December 31 2020, overseas deposits included investments in private funds held by Syndicate 2007 where the underlying investments were primarily U.S. government, non-U.S. government and corporate debt securities. The funds did not trade on an exchange, therefore, they were not included in available for sale investments. As the significant inputs used to price the underlying investments were observable market inputs, the fair values of overseas deposits were classified as Level 2. Short-term Investments Short-term investments primarily comprise highly liquid securities with maturities greater than three months but less than one year from the date of purchase. These securities are typically not actively traded due to their approaching maturity, therefore their amortized cost approximates fair value. The fair values of short-term investments are classified as Level 2. Derivative Instruments Derivative instruments include foreign exchange forward contracts that are customized to the Company's economic hedging strategies and trade in the over-the-counter derivative market. The fair values of these derivatives are determined using a market approach valuation technique based on significant observable market inputs from third-party pricing vendors, non-binding broker-dealer quotes and/or recent trading activity. As the significant inputs used to price these derivatives are observable market inputs, the fair values of these derivatives are classified as Level 2. Other underwriting-related derivatives include insurance and reinsurance contracts that are accounted for as derivatives. These derivative contracts are initially valued at cost which approximates fair value. In subsequent measurement periods, the fair values of these derivatives are determined using internally developed discounted cash flow models. As the significant inputs used to price these derivatives are unobservable, the fair values of these contracts are classified as Level 3. Cash-settled Awards Cash-settled awards comprise restricted stock units that form part of the Company's compensation program. Although the fair values of these awards are determined using observable quoted market prices in active markets, the restricted stock units are not actively traded. As the significant inputs used to price these securities are observable market inputs, the fair values of these liabilities are classified as Level 2. The tables below present the financial instruments measured at fair value on a recurring basis for the periods indicated: Quoted prices in active markets Significant other observable Significant unobservable inputs (Level 3) Fair value based on NAV practical expedient Total fair value At December 31, 2021 Assets Fixed maturities, available for sale U.S. government and agency $ 2,632,541 $ 49,907 $ — $ — $ 2,682,448 Non-U.S. government — 795,178 — — 795,178 Corporate debt — 4,452,418 42,894 — 4,495,312 Agency RMBS — 1,074,589 — — 1,074,589 CMBS — 1,248,191 — — 1,248,191 Non-agency RMBS — 186,164 — — 186,164 ABS — 1,622,480 — — 1,622,480 Municipals — 208,838 — — 208,838 2,632,541 9,637,765 42,894 — 12,313,200 Equity securities Common stocks 1,364 — — — 1,364 Preferred stocks 179 — — — 179 Exchange-traded funds 336,815 — — — 336,815 Bond mutual funds — 317,317 — — 317,317 338,358 317,317 — — 655,675 Other investments Hedge funds (1) — — — 59,488 59,488 Direct lending funds — — — 289,867 289,867 Private equity funds — — — 249,974 249,974 Real estate funds — — — 238,222 238,222 CLO-Equities — — 5,910 — 5,910 Other privately held investments — — 104,521 — 104,521 Overseas deposits — — — — — — — 110,431 837,551 947,982 Short-term investments — 31,063 — — 31,063 Other assets Derivative instruments (refer to Note 7) — 3,116 — — 3,116 Total Assets $ 2,970,899 $ 9,989,261 $ 153,325 $ 837,551 $ 13,951,036 Liabilities Derivative instruments (refer to Note 7) $ — $ 14,987 $ 5,630 $ — $ 20,617 Cash-settled awards (refer to Note 16) — 9,091 — — 9,091 Total Liabilities $ — $ 24,078 $ 5,630 $ — $ 29,708 (1) Includes Long/short equity and Multi-strategy funds. Quoted prices in active markets Significant other observable Significant unobservable inputs (Level 3) Fair value based on NAV practical expedient Total fair value At December 31, 2020 Assets Fixed maturities, available for sale U.S. government and agency $ 1,861,240 $ 57,459 $ — $ — $ 1,918,699 Non-U.S. government — 671,273 — — 671,273 Corporate debt — 4,653,447 2,504 — 4,655,951 Agency RMBS — 1,286,209 — — 1,286,209 CMBS — 1,351,847 1,740 — 1,353,587 Non-agency RMBS — 140,104 — — 140,104 ABS — 1,709,413 10,665 — 1,720,078 Municipals — 295,898 — — 295,898 1,861,240 10,165,650 14,909 — 12,041,799 Equity securities Common stocks 10,942 — — — 10,942 Preferred stocks 8,068 — — — 8,068 Exchange-traded funds 221,718 — — — 221,718 Bond mutual funds — 277,717 — — 277,717 240,728 277,717 — — 518,445 Other investments Hedge funds (1) — — — 146,720 146,720 Direct lending funds — — — 272,131 272,131 Private equity funds — — — 124,706 124,706 Real estate funds — — — 164,250 164,250 CLO-Equities — — 6,173 — 6,173 Other privately held investments — — 70,011 — 70,011 Overseas deposits — 45,165 — — 45,165 — 45,165 76,184 707,807 829,156 Short-term investments — 161,897 — — 161,897 Other assets Derivative instruments (refer to Note 7) — 18,875 — — 18,875 Total Assets $ 2,101,968 $ 10,669,304 $ 91,093 $ 707,807 $ 13,570,172 Liabilities Derivative instruments (refer to Note 7) $ — $ 2,364 $ 9,122 $ — $ 11,486 Cash-settled awards (refer to Note 16) — 13,273 — — 13,273 Total Liabilities $ — $ 15,637 $ 9,122 $ — $ 24,759 (1) Includes Long/short equity and Multi-strategy funds. The following table quantifies the significant unobservable inputs used in estimating fair values at December 31, 2021 of investments classified as Level 3 in the fair value hierarchy: Fair value Valuation technique Unobservable input Amount /Range Weighted Other investments - CLO-Equities $ 5,910 Discounted cash flow Default rate 4.5% 4.5% Loss severity rate 50.0% 50.0% Collateral spread 3.0% 3.0% Estimated maturity date 6 years 6 years Other investments - Other privately $ 20,867 Discounted cash flow Discount rate 2.5% 2.5% Default rate 0.5% 0.5% Loss absorption yield 1.0% 1.0% Estimated maturity date 2 - 4 years 3 years Derivatives - Other underwriting- $ (5,630) Discounted cash flow Discount rate 1.3% 1.3% Note: Fixed maturities of $43 million that are classified as Level 3 are excluded from the above table as these securities are priced using broker-dealer quotes. In addition, other privately held investments of $84 million that are classified as Level 3 are excluded from the above table as these investments are priced using capital statements received from investee companies. Other Investments - CLO-Equities The CLO-Equities market continues to be relatively inactive with only a small number of transactions being observed, particularly related to transactions involving CLO-Equities held by the Company. Accordingly, the fair value of the Company's indirect investment in CLO-Equities is determined using a discounted cash flow model prepared by an external investment manager. The default and loss severity rates are the most judgmental unobservable market inputs to the discounted cash flow model to which the valuation of the Company's indirect investment in CLO-Equities is most sensitive. A significant increase (decrease) in either of these significant inputs in isolation would result in a lower (higher) fair value estimate for the investment in CLO-Equities and, in general, a change in default rate assumptions would be accompanied by a directionally similar change in loss severity rate assumptions. Collateral spreads and estimated maturity dates are less judgmental inputs as they are based on the historical average of actual spreads and the weighted average life of the current underlying portfolios, respectively. A significant increase (decrease) in either of these significant inputs in isolation would result in a higher (lower) fair value estimate for the investment in CLO-Equities. In general, these inputs have no significant interrelationship with each other or with default and loss severity rates. On a quarterly basis, the Company's valuation process for its indirect investment in CLO-Equities includes a review of the underlying cash flows and key assumptions used in the discounted cash flow model. The above significant unobservable inputs are reviewed and updated based on information obtained from secondary markets, including information received from the managers of the Company's CLO-Equities investment. In order to assess the reasonableness of the inputs the Company uses in the discounted cash flow model, the Company maintains an understanding of current market conditions, historical results, and emerging trends that may impact future cash flows. In addition, the assumptions the Company uses in its models are updated through regular communication with industry participants and ongoing monitoring of the deals in which the Company participates. Other Investments - Other Privately Held Securities Other privately held securities are initially valued at cost which approximates fair value. In subsequent measurement periods, the fair value of the variable yield security was determined using an externally developed discounted cash flow model. This model includes inputs that are specific to that investment. The inputs used in the fair value measurement include an appropriate discount rate, default rate, loss absorption rate and estimated maturity date. The selection of an appropriate discount rate is judgmental and is the most significant unobservable input used in the valuation of this investment. A significant increase (decrease) in this input in isolation could result in significantly lower (higher) fair value measurement for this investment. In order to assess the reasonableness of the inputs the Company uses in the discounted cash flow model, the Company maintains an understanding of current market conditions, historical results, as well as investee specific information that may impact future cash flows. Derivatives - Other Underwriting-related Derivatives Other underwriting-related derivatives are initially valued at cost which approximates fair value. In subsequent measurement periods, the fair values of these derivatives are determined using internally developed discounted cash flow models which use appropriate discount rates. The selection of an appropriate discount rate is judgmental and is the most significant unobservable input used in the valuation of these derivatives. A significant increase (decrease) in this input in isolation could result in a significantly lower (higher) fair value measurement for the derivative contracts. In order to assess the reasonableness of the inputs the Company uses in the discounted cash flow model, the Company maintains an understanding of current market conditions, historical results, as well as contract specific information that may impact future cash flows. The following table presents changes in Level 3 for financial instruments measured at fair value on a recurring basis: Opening Transfers Transfers Included in net income (1) Included in OCI (2) Purchases Sales Settlements/ Closing Change in unrealized gains/(losses) (3) Year ended December 31, 2021 Fixed maturities, available for sale Corporate debt $ 2,504 $ — $ — $ — $ (642) $ 41,800 $ — $ (768) $ 42,894 $ — CMBS 1,740 — — — 13 — — (1,753) — — ABS 10,665 — (10,200) — 35 — — (500) — — 14,909 — (10,200) — (594) 41,800 — (3,021) 42,894 — Other investments CLO-Equities 6,173 — — 2,819 — — — (3,082) 5,910 2,819 Other privately held investments 70,011 — — 42,653 — 21,760 (26,980) (2,923) 104,521 25,273 76,184 — — 45,472 — 21,760 (26,980) (6,005) 110,431 28,092 Total assets $ 91,093 $ — $ (10,200) $ 45,472 $ (594) $ 63,560 $ (26,980) $ (9,026) $ 153,325 $ 28,092 Other liabilities Derivative instruments $ 9,122 $ — $ — $ (2,742) $ — $ — $ — $ (750) $ 5,630 $ (1,769) Total liabilities $ 9,122 $ — $ — $ (2,742) $ — $ — $ — $ (750) $ 5,630 $ (1,769) Year ended December 31, 2020 Fixed maturities, available for sale Corporate debt $ 2,297 $ — $ — $ — $ 207 $ — $ — $ — $ 2,504 $ — CMBS 5,235 — — — (11) — — (3,484) 1,740 — ABS 489 9,091 — — 116 969 — — 10,665 — 8,021 9,091 — — 312 969 — (3,484) 14,909 — Other investments CLO-Equities 14,328 — — (6,017) — — — (2,138) 6,173 (5,319) Other privately held investments 36,934 — — 6,040 — 27,037 — — 70,011 6,040 51,262 — — 23 — 27,037 — (2,138) 76,184 721 Total assets $ 59,283 $ 9,091 $ — $ 23 $ 312 $ 28,006 $ — $ (5,622) $ 91,093 $ 721 Other liabilities Derivative instruments $ 9,672 $ — $ — $ 9,421 $ — $ — $ — $ (9,971) $ 9,122 $ (550) Total liabilities $ 9,672 $ — $ — $ 9,421 $ — $ — $ — $ (9,971) $ 9,122 $ (550) (1) Realized gains (losses) on fixed maturities and realized and unrealized gains (losses) on other assets and other liabilities included in net income are included in net investment gains (losses). Realized and unrealized gains (losses) on other investments included in net income are included in net investment income. (2) Unrealized gains (losses) on fixed maturities are included in other comprehensive income ("OCI"). (3) Change in unrealized gains (losses) relating to assets and liabilities held at the reporting date. Transfers into Level 3 from Level 2 There were no transfers into Level 3 from Level 2 during 2021. The transfers into Level 3 from Level 2 during 2020 were primarily due to the lack of observable market inputs and multiple quotes from pricing vendors and broker-dealers for certain fixed maturities. Transfers out of Level 3 into Level 2 The transfers out of Level 3 into Level 2 during 2021 were primarily due to the availability of observable market inputs and multiple quotes from pricing vendors for certain fixed maturities. There were no transfers out of Level 3 into Level 2 during 2020. Measuring the Fair Value of Other Investments Using Net Asset Valuations The fair values of hedge funds, direct lending funds, private equity funds and real estate funds are estimated using net asset valuations ("NAVs") as advised by external fund managers or third-party administrators. For these funds, NAVs are based on the manager's or administrator's valuation of the underlying holdings in accordance with the fund's governing documents and in accordance with U.S. GAAP. For hedge funds, direct lending funds, private equity funds and real estate funds, valuation statements are typically released on a reporting lag, therefore, the Company estimates the fair value of these funds by starting with the most recent fund valuations and adjusting for capital calls, redemptions, drawdowns and distributions. Return estimates are not available from the relevant fund managers for these funds, therefore the Company typically has a reporting lag in its fair value measurements of these funds. At December 31, 2021 and 2020, all funds measured at fair value using NAVs are reported on a lag. The Company often does not have access to financial information relating to the underlying securities held within the funds. Therefore, management is unable to corroborate the fair values placed on the securities underlying the asset valuations provided by fund managers or fund administrators. In order to assess the reasonableness of the NAVs, the Company performs a number of monitoring procedures on a quarterly basis, to assess the quality of the information provided by fund managers and fund administrators. These procedures include, but are not limited to, regular review and discussion of each fund's performance with its manager, regular evaluation of fund performance against applicable benchmarks and the backtesting of the Company's fair value estimates against subsequently received NAVs. Backtesting involves comparing the Company's previously reported fair values for each fund against NAVs per audited financial statements (for year-end values) and final NAVs from fund managers and fund administrators (for interim values). The fair values of hedge funds, direct lending funds, private equity funds and real estate funds are measured using the NAV practical expedient, therefore the fair values of these funds have not been categorized within the fair value hierarchy. Financial Instruments Disclosed, But Not Carried, at Fair Value The fair value of financial instruments accounting guidance also applies to financial instruments disclosed, but not carried, at fair value, except for certain financial instruments, including insurance contracts. At December 31, 2021, the carrying values of cash and cash equivalents including restricted amounts, accrued investment income, receivable for investments sold, certain other assets, payable for investments purchased and certain other liabilities approximated fair values due to their short maturities. As these financial instruments are not actively traded, their fair values are classified as Level 2. At December 31, 2021, the Company's fixed maturities held to maturity, were recorded at amortized cost with a carrying value of $446 million (2020: $nil) and a fair value of $445 million (2020: $nil). The fair values of these securities are determined using a model which uses prepayment speeds and spreads sourced primarily from the new issue market. As the significant inputs used to price these securities are observable market inputs, their fair values are classified as Level 2. At December 31, 2021, the carrying value of mortgage loans, held for investment approximated fair value. The fair values of mortgage loans are primarily determined by estimating expected future cash flows and discounting them using current interest rates for similar mortgage loans with similar credit risk or are determined from pricing for similar loans. As mortgage loans are not actively traded, their fair values are classified as Level 3.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	The following table provides the balance sheet classifications of derivatives recorded at fair value: December 31, 2021 December 31, 2020 Derivative Derivative asset fair value (1) Derivative liability fair value (1) Derivative Derivative asset fair value (1) Derivative liability fair value (1) Relating to investment portfolio: Foreign exchange forward contracts $ 184,187 $ 13 $ 1,463 $ 105,781 $ 2 $ 2,364 Relating to underwriting portfolio: Foreign exchange forward contracts 1,258,836 3,103 13,524 1,197,012 18,873 — Other underwriting-related contracts 50,000 — 5,630 75,000 — 9,122 Total derivatives $ 3,116 $ 20,617 $ 18,875 $ 11,486 (1) Derivative assets and derivative liabilities are classified within other assets and other liabilities in the consolidated balance sheets. The notional amounts of derivative contracts represent the basis on which amounts paid or received are calculated and are presented in the above table to quantify the volume of the Company's derivative activities. Notional amounts are not reflective of credit risk. None of the Company's derivative instruments are designated as hedges under current accounting guidance. Offsetting Assets and Liabilities The Company's derivative instruments are generally traded under International Swaps and Derivatives Association master netting agreements which establish terms that apply to all transactions. In the event of a bankruptcy or other stipulated event, master netting agreements provide that individual positions be replaced with a new amount, usually referred to as the termination amount, determined by taking into account market prices and converting into a single currency. Effectively, this contractual close-out netting reduces credit exposure from gross to net exposure. The following table provides a reconciliation of gross derivative assets and liabilities to the net amounts presented in the consolidated balance sheets, with the difference being attributable to the impact of master netting agreements: December 31, 2021 December 31, 2020 Gross amounts Gross amounts offset Net amounts (1) Gross amounts Gross amounts offset Net amounts (1) Derivative assets $ 9,047 $ (5,931) $ 3,116 $ 27,765 $ (8,890) $ 18,875 Derivative liabilities $ 26,548 $ (5,931) $ 20,617 $ 20,376 $ (8,890) $ 11,486 (1) Net asset and liability derivatives are classified within other assets and other liabilities in the consolidated balance sheets. Refer to Note 5 'Investments' for information on reverse repurchase agreements. a) Relating to Investment Portfolio Foreign Currency Risk The Company's investment portfolio is exposed to foreign currency risk therefore the fair values of its investments are partially influenced by changes in foreign exchange rates. The Company may enter into foreign exchange forward contracts to manage the effect of this foreign currency risk. These foreign currency hedging activities are not designated as specific hedges for financial reporting purposes. Interest Rate Risk The Company's investment portfolio includes a large percentage of fixed maturities which exposes it to significant interest rate risk. As part of overall management of this risk, the Company may use interest rate swaps. b) Relating to Underwriting Portfolio Foreign Currency Risk The Company's insurance and reinsurance subsidiaries and branches operate in various countries. Some of its business is written in currencies other than the U.S. dollar, therefore the underwriting portfolio is exposed to significant foreign currency risk. The Company manages foreign currency risk by seeking to match its foreign-denominated net liabilities under insurance and reinsurance contracts with cash and investments that are denominated in the same currencies. The Company uses derivative instruments, specifically, forward contracts to economically hedge foreign currency exposures Other Underwriting-related Risks The Company enters into insurance and reinsurance contracts that are accounted for as derivatives. These insurance or reinsurance contracts provide indemnification to an insured or cedant as a result of a change in a variable as opposed to an identifiable insurable event. The Company considers these contracts to be part of its underwriting operations. The following table provides the total unrealized and realized gains (losses) recognized in net income for derivatives not designated as hedges: Consolidated statement of operations line item that includes gain (loss) recognized Amount of gain (loss) recognized in 2021 2020 2019 Relating to investment portfolio: Foreign exchange forward contracts Net investment gains (losses) $ 4,346 $ (2,434) $ 1,854 Interest rate swaps Net investment gains (losses) — — (3,677) Relating to underwriting portfolio: Foreign exchange forward contracts Foreign exchange gains (losses) (50,738) 44,166 (10,678) Other underwriting-related contracts Other insurance related income (loss) 2,742 (9,035) 1,789 Total $ (43,650) $ 32,697 $ (10,712)

RESERVE FOR LOSSES AND LOSS EXP

RESERVE FOR LOSSES AND LOSS EXPENSES	12 Months Ended
	Dec. 31, 2021
Insurance Loss Reserves [Abstract]
RESERVE FOR LOSSES AND LOSS EXPENSES	Reserving Methodology Sources of Information The Company's loss reserving process begins with the collection and analysis of paid and incurred claim data for each of the Company's segments. The segmental data is disaggregated by reserve class and further disaggregated by underwriting year and accident year. Underwriting year or accident year information is used to analyze the Company's business and to estimate reserves for losses and loss expenses. Reserve classes are selected to ensure that the underlying contracts have homogeneous loss development characteristics, while remaining large enough to make the estimation of trends credible. The Company's reserve classes are reviewed on a regular basis and adjusted over time as the Company's business evolves. The paid and incurred claim data serves as a key input to many of the methods employed by the Company's actuaries. The following tables map the Company's lines of business to reserve classes and the expected claim tails: Insurance segment Reserve class and tail Property and other Marine Aviation Credit and political risk Professional lines Liability Short Short Short/Medium Medium Medium Long Reported lines of business Property X Marine X Terrorism X Aviation X Credit and political risk X Professional lines X Liability X Accident and health X Discontinued lines - Novae X X X Reinsurance segment Reserve class and tail Property and other Credit and surety Professional lines Motor Liability Short Medium Medium Long Long Reported lines of business Catastrophe X Property X Credit and surety X Professional lines X Motor X Liability X Engineering X Agriculture X Marine and aviation X Accident and health X Discontinued lines - Novae X X X Actuarial Analysis Multiple actuarial methods are available to estimate ultimate losses. Each method has its own assumptions and its own advantages and disadvantages, with no single estimation method being better than the others in all situations and no one set of assumption variables being meaningful for all reserve classes. The relative strengths and weaknesses of the particular estimation methods when applied to a particular group of claims can also change over time. The following is a brief description of the reserve estimation methods commonly employed by the Company's actuaries including a discussion of their particular strengths and weaknesses: • Expected Loss Ratio Method ("ELR Method") : This method estimates ultimate losses for an accident year or underwriting year by applying an expected loss ratio ("ELR") to the earned or written premium for that year. Generally, expected loss ratios are based on one or more of (a) an analysis of historical loss experience to date, (b) pricing information and (c) industry data, adjusted as appropriate, to reflect changes in rates, loss and exposure trends, and terms and conditions. This method is insensitive to actual incurred losses for the accident year or underwriting year in question and is, therefore, often useful in the early stages of development when very few losses have been incurred. Conversely, the lack of sensitivity to incurred/paid losses for the accident year or underwriting year in question means that this method is usually inappropriate in later stages of an accident year or underwriting year’s development. • Loss Development Method (also referred to as the "Chain Ladder Method" or "Link Ratio Method") : This method assumes that the losses incurred/paid for each accident year or underwriting year at a particular development stage follow a relatively similar pattern. It assumes that on average, every accident year or underwriting year will display the same percentage of ultimate losses incurred/paid at the same point in time after the inception of that year. The percentages incurred/paid are established for each development stage (e.g. 12 months, 24 months, etc.) after examining averages from historical loss development data and/or external industry benchmark information. Ultimate losses are then estimated by multiplying the actual incurred/paid losses by the reciprocal of the established incurred/paid percentage. The strengths of this method are that it reacts to loss emergence/payments and that it makes full use of historical claim emergence/payment experience. However, this method has weaknesses when the underlying assumption of stable loss development/payment patterns is not valid. This could be the consequence of changes in business mix, claim inflation trends or claim reporting practices and/or the presence of large claims, among other things. Furthermore, this method tends to produce volatile estimates of ultimate losses where there is volatility in the underlying incurred/paid patterns. In particular, where the expected percentage of incurred/paid losses is low, small deviations between actual and expected claims can lead to very volatile estimates of ultimate losses. As a result, this method is often unsuitable at early development stages for an accident year or underwriting year. • Bornhuetter-Ferguson Method ("BF Method") : This method can be seen as a combination of the ELR and Loss Development Methods, under which the Loss Development Method is given progressively more weight as an accident year or underwriting year matures. The main advantage of the BF Method is that it provides a more stable estimate of ultimate losses than the Loss Development Method at earlier stages of development, while remaining more responsive to emerging loss development than the ELR Method. In addition, the BF Method allows for the incorporation of external market information through the use of expected loss ratios, whereas the Loss Development Method does not incorporate such information. As part of the loss reserving process, the Company's actuaries employ the estimation method(s) that they believe will produce the most reliable estimate of ultimate losses, at that particular evaluation date, for each reserve class and accident year or underwriting year combination. Often, this is a blend (i.e. weighted average) of the results of two or more appropriate actuarial methods. These ultimate loss estimates are generally utilized to evaluate the adequacy of ultimate loss estimates for previous accident or underwriting years, established in the prior reporting period. For the initial estimate of the current accident or underwriting year, the available claim data is typically insufficient to produce a reliable estimate of ultimate losses. As a result, initial estimates for an accident or underwriting year are generally based on the ELR Method for longer tailed lines and a BF Method for shorter tailed lines. The initial ELR for each reserve class is established by the Company's actuaries at the start of the year as part of the planning process, taking into consideration prior accident years’ or underwriting years' experience and industry benchmarks, adjusted after considering factors such as loss and exposure trends, rate differences, changes in contract terms and conditions, business mix changes and other known differences between the current year and prior accident or underwriting years. The initial expected loss ratios for a given accident or underwriting year may be modified over time if the underlying assumptions, such as loss development or premium rate changes, differ from the original assumptions. Key Actuarial Assumptions The use of the above actuarial methods requires the Company to make certain explicit assumptions, the most significant of which are: (1) expected loss ratios and (2) loss development patterns. The Company relies on historical loss experience in establishing expected loss ratios and selecting loss development patterns. In establishing expected loss ratios for the insurance segment, consideration is given to a number of other factors, including exposure trends, rate adequacy on new and renewal business, ceded reinsurance costs, changes in claims emergence and the Company's underwriters’ view of terms and conditions in the market environment. For the reinsurance segment, expected loss ratios are based on a contract-by-contract review, which considers information provided by clients together with estimates provided by the Company's underwriters and actuaries about the impact of changes in pricing, terms and conditions and coverage. Market experience for some lines of business as compiled and analyzed by an independent actuarial firm is also considered, as appropriate. Claim Tail Analysis Short-tail Business Short-tail business generally includes exposures for which losses are usually known and paid within a relatively short period of time after the underlying loss event has occurred. Short-tail business includes the underlying exposures in the property and other, marine, and aviation (hull and war business) reserve classes in the insurance segment, and the underlying exposures in the property and other reserve class in the reinsurance segment. The key actuarial assumptions for short-tail business are primarily developed with reference to the Company's historical loss experience for expected loss ratios and loss development patterns utilized to establish estimates of ultimate losses for an accident year. Due to the relatively short reporting and settlement patterns for short-tail business, more weight is generally placed on experience-based methods and other qualitative considerations in establishing reserves for recent and more mature accident years. The majority of development for an accident year or underwriting year is expected to be recognized in the subsequent one Medium-tail Business Medium-tail business generally has claim reporting and settlement periods that are longer than those of short-tail reserve classes. Medium-tail business includes the underlying exposures in the professional lines, credit and political risk and aviation (liability business) reserve classes in the insurance segment, and the credit and surety reserve class in the reinsurance segment. The Company considers credit and political risk business to have a medium-tail, due to the complex nature of claims and the potential additional time that may be required to realize subrogation assets. Refer to 'Net incurred and Paid Claims Development Tables by Accident Year – Insurance segment – Insurance Professional Lines', 'Net incurred and Paid Claims Development Tables by Accident Year – Reinsurance segment – Reinsurance Professional Lines', 'Net incurred and Paid Claims Development Tables by Accident Year – Insurance segment – Insurance Credit and Political Risk' and Net incurred and Paid Claims Development Tables by Accident Year – Reinsurance segment – Reinsurance Credit and Surety' for further details on key actuarial assumptions associated with these reserve classes. Long-tail Business In contrast to short and medium-tail business, the claim tail for long-tail business is expected to be notably longer, as claims are often reported and ultimately paid or settled years, or even decades, after the related loss events occur. Long-tail business includes the underlying exposures in the liability reserve class in the insurance segment and the liability and motor reserve classes in the reinsurance segment. As a general rule, estimates of accident year or underwriting year ultimate losses for long-tail business are notably more uncertain than those for short and medium-tail business. To date, key actuarial assumptions for long-tail business have been derived from a combination of industry benchmarks supplemented with Company historical loss experience. While industry benchmarks that the Company believes reflect the nature and coverage of its business are considered, actual loss experience may differ from the benchmarks based on industry averages. Due to the length of the development tail for this business, reserve estimates for most accident years and underwriting years are predominantly based on the BF Method or ELR Method and the consideration of qualitative factors. Reserving for Significant Catastrophic Events The Company cannot estimate losses from widespread catastrophic events, such as hurricanes and earthquakes, using the traditional actuarial methods described above. The magnitude and complexity of losses associated with certain of these events inherently increase the level of uncertainty and, therefore, the level of management judgment involved in arriving at estimated net reserves for losses and loss expenses. As a result, actual losses for these events may ultimately differ materially from current estimates. Net reserves for losses and loss expenses related to the COVID-19 pandemic represents the Company's best estimate of losses and loss expenses that have been incurred at December 31, 2021. The determination of these net reserves for losses and loss expenses was based on the Company's ground-up assessment of coverage from individual contracts and treaties across all lines of business, and included a review of modeling analyses and market information, where appropriate. In addition, the Company considered information received from clients, brokers and loss adjusters together with global shelter-in-place orders and the outcomes of recent court judgments, including the UK Supreme Court ruling on January 15, 2021. The estimate of net reserves for losses and loss expenses related to the COVID-19 pandemic is subject to significant uncertainty. This uncertainty is driven by the inherent difficulty in making assumptions around the impact of the COVID-19 pandemic due to the lack of comparable events, the ongoing nature of the event, and its far-reaching impacts on world-wide economies and the health of the population. These assumptions include: • the nature and the duration of the pandemic; • the effects on health, the economy and the Company's customers; • the response of government bodies including legislative, regulatory or judicial actions and social influences that could alter the interpretation of the Company's contracts; • the coverage provided under the Company's contracts; • the coverage provided by the Company's ceded reinsurance; and • the evaluation of the loss and impact of loss mitigation actions. While the Company believes its estimate of net reserves for losses and loss expenses is adequate for losses and loss expenses that have been incurred at December 31, 2021 based on current facts and circumstances, the Company continues to monitor the appropriateness of these assumptions as new information comes to light, and adjustments are made to the estimate of ultimate losses related to the COVID-19 pandemic if there are developments that are different from previous expectations. Adjustments are recorded in the period in which they are identified. Actual losses for this event may ultimately differ materially from the Company's current estimates. Net reserves for losses and loss expenses related to catastrophes other than the COVID-19 pandemic represent the Company's best estimate of losses and loss expenses that have been incurred at December 31, 2021. The determination of these net reserves for losses and loss expenses is estimated by management after a catastrophe occurs by completing an in-depth analysis of individual contracts which may potentially have been impacted by the catastrophic event. This in-depth analysis may rely on several sources of information including: • estimates of the size of insured industry losses from the catastrophic event and the Company's corresponding market share; • a review of the Company's portfolio of contracts to identify those contracts which may be exposed to the catastrophic event; • a review of modeled loss estimates based on information previously reported by customers and brokers, including exposure data obtained during the underwriting process; • discussions of the impact of the event with customers and brokers; and • catastrophe bulletins published by various independent statistical reporting agencies. A blend of these information sources is generally used to arrive at aggregate estimates of the ultimate losses arising from these catastrophic events. While the Company believes its estimate of net reserves for losses and loss expenses is adequate for losses and loss expenses that have been incurred at December 31, 2021 based on current facts and circumstances, the Company monitors changes in paid and incurred losses in relation to each significant catastrophe in subsequent reporting periods and adjustments are made to estimates of ultimate losses for each event if there are developments that are different from previous expectations. Adjustments are recorded in the period in which they are identified. Actual losses for these events may ultimately differ materially from the Company's current estimates. Selection of Reported Reserves – Management’s Best Estimate The Company's loss reserving process involves the collaboration of its underwriting, claims, actuarial, legal, ceded reinsurance and finance departments, including various segmental committee meetings and culminates with the approval of a single point best estimate by the Company's Group Reserving Committee, which comprises senior management. In selecting this best estimate, management considers actuarial estimates and applies informed judgment regarding qualitative factors that may not be fully captured in these actuarial estimates. Such factors include, but are not limited to, the timing of the emergence of claims, volume and complexity of claims, social and judicial trends, potential severity of individual claims and the extent of Company historical loss data versus industry information. While these qualitative factors are considered in arriving at the point estimate, no specific provisions for qualitative factors are established. Reserve for Losses and Loss Expenses Reserve for losses and loss expenses comprise the following: At December 31, 2021 2020 Reserve for reported losses and loss expenses $ 5,539,971 $ 5,331,900 Reserve for losses incurred but not reported 9,113,123 8,594,866 Reserve for losses and loss expenses $ 14,653,094 $ 13,926,766 Reserve Roll-forward The following table presents a reconciliation of the Company's beginning and ending gross reserves for losses and loss expenses and net reserves for unpaid losses and loss expenses: Year ended December 31, 2021 2020 2019 Gross reserve for losses and loss expenses, beginning of year $ 13,926,766 $ 12,752,081 $ 12,280,769 Less reinsurance recoverable on unpaid losses, beginning of year (4,496,641) (3,877,756) (3,501,669) Net reserve for unpaid losses and loss expenses, beginning of year 9,430,125 8,874,325 8,779,100 Net incurred losses and loss expenses related to: Current year 3,041,193 3,297,161 3,123,698 Prior years (32,410) (15,909) (78,900) 3,008,783 3,281,252 3,044,798 Net paid losses and loss expenses related to: Current year (490,011) (571,442) (598,988) Prior years (2,274,240) (2,365,959) (2,371,637) (2,764,251) (2,937,401) (2,970,625) Foreign exchange and other (39,174) 211,949 21,052 Net reserve for unpaid losses and loss expenses, end of year 9,635,483 9,430,125 8,874,325 Reinsurance recoverable on unpaid losses, end of year 5,017,611 4,496,641 3,877,756 Gross reserve for losses and loss expenses, end of year $ 14,653,094 $ 13,926,766 $ 12,752,081 The Company writes business with loss experience generally characterized as low frequency and high severity in nature, which can result in volatility in its financial results. During 2021, 2020 and 2019, the Company recognized catastrophe and weather-related losses, net of reinstatement premiums, of $443 million, $774 million and $336 million. At December 31, 2021, foreign exchange and other included a reduction in reinsurance recoverable on unpaid losses of $49 million related to the Reinsurance to Close of the 2018 year of account of Syndicate 2007. On December 15, 2019, the Company entered into a quota share retrocessional agreement with Harrington Re, a related party, which was deemed to have met the established criteria for retroactive reinsurance accounting. The Company recognized reinsurance recoverable on unpaid losses of $59 million related to this reinsurance agreement. This transaction was conducted at market rates consistent with negotiated arms-length contracts. Estimates for Significant Catastrophe Events At December 31, 2021, net reserve for losses and loss expenses included estimated amounts for numerous catastrophe events. The magnitude and complexity of losses arising from certain of these events inherently increase the level of uncertainty and, therefore, the level of management judgment involved in arriving at estimated net reserves for losses and loss expenses. These events includ e Hurricane Ida, U.S. Winter Storms Uri and Viola, and July European Floods in 2021 , the COVID-19 pandemic, Hurricanes Laura, Sally, Zeta and Delta, Midwest derecho and wildfires across the West Coast of the United States in 2020, Japanese Typhoons Hagibis, Faxai and Tapah, Hurricane Dorian and Australia Wildfires in 2019 and Hurricanes Michael and Florence, California Wildfires and Typhoon Jebi in 2018. As a result, actual losses for these events may ultimately differ materially from current estimates. Prior Year Reserve Development The Company's net favorable prior year reserve development arises from changes to estimates for losses and loss expenses related to loss events that occurred in previous calendar years. The following table presents net prior year reserve development by segment: Favorable (Adverse) Insurance Reinsurance Total Year ended December 31, 2021 $ 18,360 $ 14,049 $ 32,410 Year ended December 31, 2020 8,937 6,972 15,909 Year ended December 31, 2019 53,302 25,598 78,900 The following sections provide further details on net prior year reserve development by segment, reserving class and accident year. Insurance Segment : Favorable (Adverse) Years ended December 31, 2021 2020 2019 Property and other $ 86,876 $ 46,791 $ 11,042 Marine 28,430 16,780 33,260 Aviation 14,106 6,416 3,741 Credit and political risk 10,363 (745) 18,810 Professional lines (78,588) (35,661) 11,721 Liability (42,827) (24,644) (25,272) Total $ 18,360 $ 8,937 $ 53,302 In 2021, we recognized $18 million of net favorable prior year reserve development, the principal components of which were: • $87 million of net favorable prior year reserve development on property and other business primarily due to decreases in loss estimates attributable to specific large claims related to the 2011 and 2012 accident years, and better than expected loss emergence attributable to the 2018 to 2020 catastrophe events, the global property book of business related to 2017 to 2019 accident years, and the accident and health book of business related to the 2019 and 2020 accident years. • $28 million of net favorable prior year reserve development on marine business primarily due to better than expected loss emergence attributable to cargo, offshore energy and specie books of business mainly related to the 2017, 2018 and 2020 accident years and decreases in loss estimates attributable to specific large claims related to 2012 accident year. • $14 million of net favorable prior year reserve development on aviation business primarily due to better than expected loss emergence mainly related to the 2020 accident year. • $10 million of net favorable prior year reserve development on credit and political risk business primarily due to better than expected loss emergence mainly related to the 2018 and 2019 accident years. • $79 million of net adverse prior year reserve development on professional lines business primarily due to reserve strengthening within runoff lines of business mainly related to the 2016 to 2019 accident years, the U.S. commercial management solutions book of business mainly related to the 2017 and 2019 accident years and the global cyber and technology book of business mainly related to the 2019 accident year. • $43 million of net adverse prior year reserve development on liability business primarily due to reserve strengthening within the program book of business mainly related to the 2018 and 2019 accident years. In 2020, we recognized $9 million of net favorable prior year reserve development, the principal components of which were: • $47 million of net favorable prior year reserve development on property and other business primarily due to better than expected loss emergence mainly related to the 2018 and 2019 accident years, and better than expected loss emergence attributable to the 2017 to 2019 catastrophe events. • $17 million of net fa vorable prior year reserve development on marine business primarily due to better than expected loss emergence mainly related to the 2018 accident year. • $36 million of net adverse prior year reserve development on professional lines business primarily due to reserve strengthening within the European professional indemnity and financial institutions books of business and the U.S. commercial management solutions book of business mainly related to the 2018 and 2019 accident years and an increase in the loss estimate attributable to a specific large claim related to the 2009 accident year. • $25 million of net adverse prior year reserve development on liability business primarily due to reserve strengthening within the primary casualty, U.S. excess casualty and program books of business mainly related to the 2017 and 2018 accident years. In 2019 , we recognized $53 million of net favorable prior year reserve development, the principal components of which were: • $33 million of net favorable prior year reserve development on marine business primarily due to better than expected loss emergence mainly related to the 2015 to 2017 accident years. • $19 million of net fav orable prior year reserve development on credit and political risk business primarily due to better than expected loss emergence mainly related to recent accident years. • $12 million of net favorable prior year reserve development on professional lines business reflecting generally favorable experience on older accident years as the Company continued to transition to more experience based actuarial methods. • $11 million of net favorable prior year reserve development on property and other business primarily due to better than expected loss emergence related to the 2017 catastrophe events and SuperStorm Sandy, partially offset by reserve strengthening within the International book of business mainly related to the 2018 accident year. • $25 million of net adverse prior year reserve development on liability business primarily due to reserve strengthening within the U.S. excess casualty and U.S. primary casualty books of business mainly driven by the higher frequency and severity of auto claims and the higher frequency of general liability claims mainly related to the 2015 and 2017 accident years. Reinsurance Segment : Favorable (Adverse) Years ended December 31, 2021 2020 2019 Property and other $ 8,282 $ (5,935) $ (133,448) Credit and surety 3,436 36,829 53,223 Professional lines (23,718) (15,352) 3,668 Motor 43,968 21,086 70,872 Liability (17,919) (29,656) 31,283 Total $ 14,049 $ 6,972 $ 25,598 In 2021, we recognized $14 million of net favorable prior year reserve development, the principal components of which were: • $44 million of net favorable prior year reserve development on motor business primarily due to proportional and non-proportional treaty business mainly related to 2016 and older accident years. • $8 million of net favorable prior year reserve development on property and other business primarily due to decreases in loss estimates attributable to specific large claims within the property and engineering lines of business related to the 2018 accident year, decreases in the loss estimates attributable to specific large claims within the property line of business related to the 2009, 2017 and 2019 accident years, better than expected loss emergence attributable to the 2017 to 2019 catastrophe events, and to the accident and health book of business mainly related to the 2019 and 2020 accident years, partially offset by reserve strengthening attributable to the 2020 catastrophe events and within the engineering line of business mainly related to the 2016, 2017 and 2019 accident years. • $24 million of net adverse prior year reserve development on professional lines business primarily due to reserve strengthening within the U.S. and European books of business related to the 2015 to 2018 accident years and increases in the loss estimates attributable to specific large claims related to the 2015 to 2017 accident years. • $18 million of net adverse prior year reserve development on liability business primarily due to increases in loss estimates attributable to specific large claims related to the 2017 and 2018 accident years and reserve strengthening within the commercial auto liability and U.S. multiline/regional books of business related to the 2018 accident year. In 2020, we rec ognized $7 million of net favorable prior year reserve development, the principal components of which were: • $37 million of net favorable prior year reserve development on credit and surety business primarily due to better than expected loss emergence related to several accident years. • $21 million of net favorable prior year reserve development on motor business primarily due to non-proportional treaty business mainly related to older accident years, partially offset by increases in loss estimates for proportional treaty business mainly related to the 2018 accident year. • $30 million of net advers e prior year reserve development on liability business due to reserve strengthening within the U.S. casualty, the U.S. multiline/regional and the European books of business mainly related to the 2016 to 2019 accident years and an increase in the loss estimate attributable to a specific large claim related to the 2009 accident year. • $15 million of net adverse prior year reserve development on professional lines business due to an increase in the loss estimate attributable to a specific large claim related to the 2016 accident year and reserve strengthening within the European book of business mainly related to the 2016 to 2018 accident years. • $6 million of net adverse prior year reserve development on property and other business primarily due to an increase in the loss estimate attributable to a specific large claim within the marine and aviation line of business related to the 2019 accident year, reserve strengthening within the engineering line of business mainly related to the 2016 to 2018 accident years, partially offset by net favorable prior year reserve development within the property line of business due to better than expected loss emergence attributable to the 2019 catastrophe events. In 2019, we recognized $26 million of net favorable prior year reserve development, the principal components of which were: • $71 million of net favorable prior year reserve development on motor business primarily due to the impact of the increase in the Ogden Rate and changes in related actuarial assumptions on several accident years. • $53 million of net favorable prior year reserve development on credit and surety business primarily due to better than expected loss emergence mainly related to accident years 2015 to 2017. • $31 million of net favorable prior year reserve development on liability business primarily due to increased weight given by management to experience based indications on older accident years. • $133 million of net adverse prior year reserve development on property and other business primarily due to an increase in loss estimates attributable to Hurricanes Irma and Michael consistent with industry trends, an increase in the loss estimate attributable to Typhoon Jebi consistent with updated industry insured loss estimates, and reserve strengthening within the U.S. regional and commercial proportional property books of business and the European proportional property book of business. Net Incurred and Paid Claims Development Tables by Accident Year The following tables present net incurred and paid claims development by accident year, total incurred-but-not-reported liabilities plus expected development on reported claims, cumulative reported claims frequency and average annual percentage payout of incurred claims by age for each reserve class. The loss development tables are presented on an accident year basis for each reserve class in the insurance and reinsurance segments. The Company does not discount reserves for losses and loss expenses. Non-U.S. dollar denominated loss data is converted to U.S. dollar at the rates of exchang

REINSURANCE

REINSURANCE	12 Months Ended
	Dec. 31, 2021
Reinsurance Disclosures [Abstract]
REINSURANCE	In the normal course of business, the Company purchases treaty and facultative reinsurance protection to limit ultimate losses from catastrophic events and reduce loss aggregation risk. Facultative reinsurance provides cover for all or a portion of the losses incurred for a single policy and the Company separately negotiates each facultative contract. Treaty reinsurance provides cover for a specified type or category of risks. The Company's treaty reinsurance agreements provide this cover on either an excess of loss or a proportional basis. Excess of loss covers provide a contractually set amount of coverage after a specified loss amount has been reached. These treaties can provide cover for a number of lines of business within one contract. Under proportional reinsurance, the Company cedes an agreed percentage of the premiums and the losses and loss expenses on the policies it underwrites. These treaties provide the Company with a specified percentage of coverage from the first dollar of loss. All of these reinsurance contracts provide the Company with the right to recover a specified amount of losses and loss expenses from reinsurers. To the extent that reinsurers do not meet their obligations under these agreements due to solvency issues, contractual disputes over contract language or coverage and/or other reasons, the Company remains liable. The Company predominantly cedes its business to reinsurers rated A- or better by A.M. Best. The following table presents gross and net premiums written and earned: Year ended December 31, 2021 2020 2019 Premiums Premiums Premiums Premiums Premiums Premiums Gross $ 7,685,984 $ 7,281,709 $ 6,826,938 $ 6,768,733 $ 6,898,858 $ 6,910,677 Ceded (2,759,360) (2,571,859) (2,490,529) (2,397,424) (2,409,243) (2,323,499) Net $ 4,926,624 $ 4,709,850 $ 4,336,409 $ 4,371,309 $ 4,489,615 $ 4,587,178 For the year ended December 31, 2021, the Company recognized ceded losses and loss expenses of $1,782 million (2020: $1,914 million; 2019: $1,602 million). At December 31, 2021, the Company's allowance for expected credit losses was $30 million (2020: $24 million; 2019: $18 million).

DEBT AND FINANCING ARRANGEMENTS

DEBT AND FINANCING ARRANGEMENTS	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
DEBT AND FINANCING ARRANGEMENTS	a) Debt The following table summarizes the Company's debt: Year ended December 31, 2021 2020 5.150% Senior Notes $ 246,632 $ 246,559 4.000% Senior Notes 347,665 347,324 3.900% Senior Notes 296,172 295,748 Junior Subordinated Notes 420,506 420,064 Total Debt $ 1,310,975 $ 1,309,695 The tables below provide the key terms of the Company's debt: Description Issuance Date Aggregate Principal Issue Price Net Proceeds Maturity Date 5.150% Senior Notes March 13, 2014 $ 250,000 99.474 % $ 246,000 April 1, 2045 4.000% Senior Notes December 6, 2017 $ 350,000 99.780 % $ 347,000 December 6, 2027 3.900% Senior Notes June 19, 2019 $ 300,000 99.360 % $ 296,000 July 15, 2029 Junior Subordinated Notes December 10, 2019 $ 425,000 99.000 % $ 420,750 January 15, 2040 Description Interest Rate Interest Payments Due 5.150% Senior Notes 5.150 % Semi-annually in arrears on April 1 and October 1 of each year 4.000% Senior Notes 4.000 % Semi-annually in arrears on June 6 and December 6 of each year 3.900% Senior Notes 3.900 % Semi-annually in arrears on January 15 and July 15 of each year Junior Subordinated Notes (1) 4.900 % Semi-annually on January 15 and July 15 of each year (1) The Junior Subordinated Notes accrue interest from the date of issuance to, but excluding, January 15, 2030 (the "Par Call Date") at the fixed rate of 4.900% and from, and including, the Par Call Date, at a rate equal to the Five-Year Treasury Rate as of the Reset Interest Determination Date, plus 3.186%. Interest of the Junior Notes is payable semi-annually on January 15 and July 15 of each year, beginning on July 15, 2020. 5.150% Senior Notes The 5.150% Senior Notes are ranked as unsecured senior obligations of AXIS Specialty Finance PLC, a 100% owned finance subsidiary. AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance PLC under the 5.150% Senior Notes. AXIS Capital's obligations under this guarantee are unsecured senior obligations and rank equally with all other senior obligations of AXIS Capital. On April 3, 2019, AXIS Capital and AXIS Specialty Finance PLC entered into a first supplemental indenture (the "First Supplemental Indenture") among AXIS Specialty Finance PLC, as issuer, AXIS Capital, as guarantor, and The Bank of New York Mellon Trust Company, N.A., as trustee (the "Trustee"), to the senior indenture (the "Indenture") relating to the 5.150% Senior Notes. The changes were made to permit the 5.150% Senior Notes to qualify as Tier 3 ancillary capital under eligible capital requirements of the Bermuda Monetary Authority. Because this amendment does not materially adversely affect the interests of the holders of the 5.150% Senior Notes, the First Supplemental Indenture was entered into without consent of any holders of the 5.150% Senior Notes. The First Supplemental Indenture relates to the 5.150% Senior Notes only and does not affect any other series of securities issued under the Indenture. 4.000% Senior Notes The 4.000% Senior Notes are ranked as unsecured senior obligations of AXIS Specialty Finance PLC, a 100% owned finance subsidiary. AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance PLC under the 4.000% Senior Notes. AXIS Capital's obligations under this guarantee are unsecured senior obligations and rank equally with all other senior obligations of AXIS Capital. 3.900% Senior Notes The 3.900% Senior Notes are ranked as unsecured senior obligations of AXIS Specialty Finance LLC, a 100% owned finance subsidiary. AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance LLC under the 3.900% Senior Notes. AXIS Capital's obligations under this guarantee are unsecured senior obligations and rank equally with all other senior obligations of AXIS Capital. The Company has the option to redeem the Senior Notes at any time and from time to time, in whole or in part, at a ''make-whole'' redemption price, which is equal to the greater of the aggregate principal amount or the sum of the present values of the remaining scheduled payments of principal and interest. The related indentures contain various covenants, including limitations on liens on the stock of restricted subsidiaries, restrictions as to the disposition of the stock of restricted subsidiaries and limitations on mergers and consolidations. The Company was in compliance with all the covenants contained in the indentures at December 31, 2021. Interest expense recognized in relation to the Senior Notes includes interest payable, amortization of the offering discounts and amortization of debt offering expenses. The offering discounts and debt offering expenses are amortized over the period of time during which the Senior Notes are outstanding. For the year ended December 31, 2021, the Company incurred interest expense of $40 million (2020: $52 million, 2019: $67 million). Junior Subordinated Notes The 4.900% Fixed-Rate Reset Junior Notes are ranked as unsecured junior subordinated obligations of AXIS Specialty Finance LLC, a 100% owned finance subsidiary. AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance LLC under the Junior Notes. AXIS Capital's obligation under this guarantee is an unsecured junior subordinated obligation and ranks equally with all future unsecured junior subordinated obligations of AXIS Capital, and junior in right of payment to all outstanding and future senior obligations of AXIS Capital. Interest expense recognized in relation to the Junior Notes includes interest payable and amortization of debt offering expenses. The debt offering expenses are amortized over the period of time during which the Junior Notes are outstanding. For the year ended December 31, 2021, the Company incurred interest expense of $21 million (2020: $21 million). Scheduled Debt Maturity The following table provides the scheduled maturity of the Company's debt obligations at December 31, 2021: Year ended December 31, 2022 $ — 2023 — 2024 — 2025 — 2026 — After 2026 1,325,000 Unamortized discount and debt issuance expenses (14,025) Total senior notes and notes payable $ 1,310,975 b) Letter of Credit Facility On November 20, 2013, certain of AXIS Capital’s operating subsidiaries (the "Participating Subsidiaries") entered into an amendment to extend the term of the Company's secured $750 million letter of credit facility with Citibank Europe plc ("Citibank") (the "$750 million Facility") pursuant to a Master Reimbursement Agreement and other ancillary documents (together, the "LOC Facility Documents"). Under the terms of the $750 million Facility, letters of credit to a maximum aggregate amount of $750 million are available for issuance on behalf of the Participating Subsidiaries. These letters of credit are principally used to support the reinsurance obligations of the Participating Subsidiaries. The $750 million Facility is subject to certain covenants, including the requirement to maintain sufficient collateral, as defined in the LOC Facility Documents to cover all of the obligations under the $750 million Facility. Such obligations include contingent reimbursement obligations for outstanding letters of credit and fees payable to Citibank. In the event of default, Citibank may exercise certain remedies, including the exercise of control over pledged collateral and the termination of the availability of the $750 million Facility to any or all of the Participating Subsidiaries. On March 31, 2015, the Participating Subsidiaries entered into an amendment to reduce the maximum aggregate utilization capacity of the $750 million Facility to $500 million (the "$500 million Facility"). All other material terms and conditions remained unchanged. On March 27, 2017, the Participating Subsidiaries amended their existing $500 million Facility to include an additional $250 million of secured letter of credit capacity (the "$250 million Facility") pursuant to a Committed Facility Letter and an amendment to the Master Reimbursement Agreement. Under the terms of the amended $750 million Facility, letters of credit to a maximum aggregate amount of $250 million are available for issuance on behalf of the Participating Subsidiaries once the $500 million Facility has been fully utilized. On December 24, 2019, the expiration date of the $500 million Facility was extended to December 31, 2023. On March 28, 2020, the expiration date of the $250 million Facility was extended to March 31, 2021. On March 31, 2021, the Participating Subsidiaries amended their existing secured $750 million Facility to extend the expiration date of the $250 million Facility to March 31, 2022, with each letter of credit provided pursuant to such credit facility having a tenor not to extend beyond March 31, 2023, to reduce the utilization capacity available under the $250 million Facility to $150 million, reducing the maximum aggregate utilization capacity of the credit facility from $750 million to $650 million, and to make administrative changes to the remaining $500 million Facility. At December 31, 2021, letters of credit outstanding under the LOC Facility were $356 million (2020: $339 million). At December 31, 2021, the Participating Subsidiaries were in compliance with all LOC Facility covenants.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	a) Concentrations of Credit Risk Credit Risk Aggregation The Company monitors and manages the aggregation of credit risk on a group-wide basis allowing it to consider exposure management strategies for individual companies, countries, regions, sectors and any other relevant inter-dependencies. The Company's credit exposures are aggregated based on the origin of risk. Credit risk aggregation is also managed through minimizing overlaps in underwriting, financing and investing activities. As part of its credit aggregation framework, the Company also assigns aggregate credit limits by country and by single counterparty (or parent of affiliated counterparties). These limits are based on and adjusted for a variety of factors including the prevailing economic environment and the nature of the underlying credit exposures. The Company's credit aggregation measurement and reporting process is facilitated by its credit risk exposure database, which contains relevant information on counterparty details and credit risk exposures. The database is accessible by management throughout the Company, therefore providing transparency to allow for the implementation of active exposure management strategies. The Company also licenses third-party tools to provide credit risk assessments. The Company monitors all its credit aggregations and, where appropriate, adjusts its internal risk limits and/or takes specific actions to reduce our risk exposures. The assets that potentially subject the Company to concentrations of credit risk consist principally of cash and investments, reinsurance recoverable on unpaid and paid claims, and insurance and reinsurance premiums balances receivable, as described below: (i) Cash and Investments In order to mitigate concentration and operational risks related to cash and cash equivalents, the Company limits the maximum amount of cash that can be deposited with a single counterparty and limits acceptable counterparties based on current rating, outlook and other relevant factors. The Company's fixed maturity investment portfolio, which represents approximately $12.8 billion or 47% o f its total assets, is exposed to potential losses arising from the diminished creditworthiness of issuers of bonds. The Company's investment portfolio is managed by external investment managers in accordance with its investment guidelines. The Company limits credit risk through diversification and issuer exposure limits graded by ratings and, with respect to custodians, through contractual and other legal remedies. Excluding U.S. government and agency securities, the Company limits its concentration of credit risk to a ny single corporate issuer to less than 2% of its investment grade fixed maturities portfolio for securities rated A- or above and less than 1% of its investment grade fixed maturities portfolio for securities rated below A-. At December 31, 2021, the Company was in compliance with these limits. (ii) Reinsurance Recoverable on Unpaid and Paid Losses and Loss Expenses The Company is exposed to the credit risk associated with reinsurance recoverable on unpaid and paid losses and loss expenses to the extent that any of its reinsurers fail to meet their obligations under reinsurance contracts. To help mitigate this risk, the Company's purchase of reinsurance is subject to financial security requirements specified by its Reinsurance Security Committee. This Committee maintains a list of approved reinsurers, performs credit risk assessments for potential new reinsurers, regularly monitors approved reinsurers with consideration for events which may have a material impact on their creditworthiness, recommends counterparty tolerance levels for different types of ceded business and monitors concentrations of credit risk. This assessment considers a wide range of individual attributes, including a review of the counterparty’s financial strength, industry position and other qualitative factors. Generally, the Committee requires that reinsurers who do not meet specified requirements provide collateral. At December 31, 2021, the three largest balances by reinsurer accounted for 13%, 10% and 5% (2020: 13%, 10% and 7%) of reinsurance recoverable on unpaid and paid losses and loss expenses. At December 31, 2021, 85.7% (December 31, 2020: 87.6%) of the Company's reinsurance recoverable on unpaid and paid losses and loss expenses were collectible from reinsurers rated the equivalent of A- or better by A.M. Best. (iii) Insurance and Reinsurance Premium Balances Receivable The diversity of the Company's client base limits credit risk associated with its insurance and reinsurance premium balances receivable. In addition, for insurance contracts the Company has contractual rights to cancel coverage for non-payment of premiums and for reinsurance contracts the Company has contractual rights to offset premium balances receivable against corresponding payments for losses and loss expenses. Brokers and other intermediaries collect premiums from customers on behalf of the Company. The Company has procedures in place to manage and monitor credit risk from intermediaries with a focus on day-to-day monitoring of the largest positions. These contractual rights contribute to the mitigation of credit risk, together with the monitoring of aged premium balances receivable. In light of these mitigating factors and considering that a significant portion of premium balances receivable are not currently due based on the terms of the underlying contracts, the Company does not utilize specific credit quality indicators to monitor its premium balances receivable. At December 31, 2021, the Company recorded an allowance for credit losses expected to be recognized over the life of the premium balances receivable of $8 million (2020: $9 million). For the year ended December 31, 2021, bad debt expense was $nil (2020: $nil; 2019: $nil). b) Brokers The Company produces its business through brokers and direct relationships with insurance companies. For the year ended December 31, 2021, three brokers accounted for 45% (2020: 47%; 2019: 47%) of gross premiums written. Marsh & McLennan Companies Inc. accounted for 18% (2020: 19%; 2019: 18%), Aon plc accounted for 17% (2020: 17%; 2019: 19%), and Willis Tower Watson PLC accounted for 10% (2020: 11%; 2019: 10%). No other broker and no single insured or reinsured accounted for more than 10% of gross premiums written in any of the last three years. c) Reinsurance Purchase Commitment In the normal course of business, the Company purchases reinsurance and retrocessional (collectively referred to as "reinsurance") protection for its insurance and reinsurance business. Minimum reinsurance premiums are contractually due in advance on a quarterly basis. At December 31, 2021, the Company had outstanding reinsurance purchase commitments of $10 million (2020: $13 million), all of which is due before January 1, 2024. Actual payments under the reinsurance contracts will depend on the underlying subject premium and may exceed the minimum reinsurance premiums. d) Legal Proceedings From time to time, the Company is subject to routine legal proceedings, including arbitrations, arising in the ordinary course of business. These legal proceedings generally relate to claims asserted by or against the Company in the ordinary course of its insurance or reinsurance operations. Estimated amounts payable related to these proceedings are included in reserve for losses and loss expenses in the Company's consolidated balance sheets. The Company is not party to any material legal proceedings arising outside the ordinary course of business. e) Investments At December 31, 2021 the Company ha s $649 million (2020: $588 million ) of unfunded investment commitments related to its other investment portfolio, which are callable by investment managers (refer to Note 5(c) ' Investments '). At December 31, 2021 the Company has $33 million (2020: $46 million) of unfunded investment commitments to purchase commercial mortgage loans and $19 million ( 2020 : $nil) of unfunded investment commitments to purchase corporate debt. f) Funds at Lloyd's The Company operates in the Lloyd’s market through its corporate members, AXIS Corporate Capital UK Limited and AXIS Corporate Capital UK II Limited, which provide 70% and 30%, respectively of Syndicate 1686's capital support. Lloyd’s sets capital requirements for corporate members annually through the application of a capital model that is based on regulatory rules pursuant to Solvency II. The capital provided to support underwriting or FAL may be satisfied by cash, certain investments and letters of credit provided by approved banks. At December 31, 2021, investments and cash of $0.9 billion (2020: $1.2 billion) were restricted to satisfy the Company's FAL requirements (refer to Note 5 'Investments' and Note 21 ' Statutory Financial Information' ).

LEASES

LEASES	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
LEASES	In the ordinary course of business, the Company renews and enters into new leases for office property and equipment, which expire at various dates. At the lease inception date, the Company assesses whether a contract is or contains a lease. At the commencement date, the Company determines the classification of each separate lease component as either a finance lease or an operating lease. The Company's leases are all currently classified as operating leases. For operating leases that have a lease term of more than 12 months, the Company recognizes a lease liability and a right-of-use asset in the Company's consolidated balance sheets at the present value of the lease payments at the lease commencement date. At the commencement date, the Company determines lease terms by assuming the exercise of those renewal options that are deemed to be reasonably certain. The exercise of lease renewal options is at the sole discretion of the Company. As the lease contracts generally do not provide an implicit discount rate, the Company uses its incremental borrowing rate based on information available at the commencement date to determine the present value of lease payments. The incremental borrowing rate is based on a borrowing with a term that is similar to the term of the associated lease. The Company has made an accounting policy election not to include renewal, termination, or purchase options that are not reasonably certain of exercise when determining the term of the borrowing. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Operating lease rentals are expensed on a straight-line basis over the life of the lease beginning on the commencement date. The following table presents the Company’s total lease expense and the cash flows arising from lease transactions: Year ended December 31, 2021 2020 2019 Lease cost: Operating lease expense $ 21,864 $ 24,726 $ 27,549 Short-term lease expense (1) 1,127 299 1,132 Sublease income (2) (3,116) (3,578) (1,144) Total lease expense $ 19,875 $ 21,447 $ 27,537 Other information: Operating cash outflows from operating leases $ 22,726 $ 20,452 $ 25,004 Right-of-use assets obtained in exchange for new operating lease liabilities (3) $ (1,739) $ 36,742 — Weighted-average remaining lease term - operating leases (4) 10.0 years 10.2 years 9.0 years Weighted-average discount rate - operating lease (5) 4.1% 4.2 % 4.7 % (1) Short-term lease expense is recognized on a straight-line basis over the lease term. (2) Sublease income largely relates to office properties in New York and London. (3) In 2021, the Company modified a lease agreement to reflect a reduction in the floor space it occupies in its office property in Zurich. (4) Weighted-average remaining lease term was calculated on the basis of the remaining lease term and the lease liability balance for each lease at the reporting date. (5) Weighted-average discount was calculated on the basis of the discount rate that was used to calculate the lease liability balance for each lease at the reporting date and the remaining balance of the lease payments for each lease at the reporting date. The following table presents the scheduled maturity of the Company's operating lease liabilities at December 31, 2021: Year ended December 31, Expected cash flows 2022 $ 23,262 2023 19,725 2024 13,556 2025 12,924 2026 10,770 Later years 66,705 Discount (27,430) Total discounted operating lease liabilities $ 119,512 The following table presents the scheduled maturity of the Company's operating lease liabilities at December 31, 2020: Year ended December 31, Expected cash flows 2021 $ 22,817 2022 23,598 2023 20,190 2024 14,478 2025 13,849 Later years 78,987 Discount (33,656) Total discounted operating lease liabilities $ 140,263 On February 1, 2020, the commencement date, the Company reflected a 15 year lease for a new office property in Alpharetta, Georgia in the Company's consolidated balance sheet. Consequently, this lease is also reflected in the maturity table above. The total contractual lease costs over the 15 year lease is $40 million.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	The following table presents a comparison of earnings (loss) per common share and earnings (loss) per diluted common share: At and year ended December 31, 2021 2020 2019 Earnings (loss) per common share Net income (loss) $ 618,609 $ (120,424) $ 323,473 Less: Preferred share dividends 30,250 30,250 41,112 Net income (loss) available (attributable) to common shareholders $ 588,359 $ (150,674) $ 282,361 Weighted average common shares outstanding 84,707 84,262 83,894 Earnings (loss) per common share $ 6.95 $ (1.79) $ 3.37 Earnings (loss) per diluted common share Net income (loss) available (attributable) to common shareholders $ 588,359 $ (150,674) $ 282,361 Weighted average common shares outstanding 84,707 84,262 83,894 Share-based compensation plans (1) 584 — 579 Weighted average diluted common shares outstanding 85,291 84,262 84,473 Earnings (loss) per diluted common share $ 6.90 $ (1.79) $ 3.34 Weighted average anti-dilutive shares excluded from the dilutive computation 656 922 154 (1) Due to the net loss recognized for the year ended December 31, 2020, the share equivalents were anti-dilutive.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	a) Common Shares The Company's authorized share capital is 800,000,000 common shares, par value of $0.0125 per share. The following table presents changes in common shares issued and outstanding: Year ended December 31, 2021 2020 2019 Shares issued, balance at beginning of year 176,580 176,580 176,580 Shares issued — — — Total shares issued at end of year 176,580 176,580 176,580 Treasury shares, balance at beginning of year (92,227) (92,621) (92,994) Shares repurchased (205) (194) (176) Shares reissued 626 588 549 Total treasury shares at end of year (91,806) (92,227) (92,621) Total shares outstanding 84,774 84,353 83,959 Treasury Shares On December 2, 2021, the Company's Board of Directors authorized a new share repurchase plan for up to $100 million of the Company's common shares through December 31, 2022. The new plan is effective January 1, 2022. The following table presents common shares repurchased from shares held in Treasury: Year ended December 31, 2021 2020 2019 In the open market: Total shares — — — Total cost $ — $ — $ — Average price per share (1) $ — $ — $ — From employees: (2) Total shares 205 194 176 Total cost $ 10,242 $ 10,382 $ 10,165 Average price per share (1) $ 49.93 $ 53.43 $ 57.66 Total shares repurchased: Total shares 205 194 176 Total cost $ 10,242 $ 10,382 $ 10,165 Average price per share (1) $ 49.93 $ 53.43 $ 57.66 (1) Calculated using whole numbers. (2) Shares are repurchased from employees to facilitate the satisfaction of their personal withholding tax liabilities that arise on the vesting of share-settled restricted stock units. b) Preferred Shares Series D Preferred Shares On May 20, 2013, the Company issued $225 million of 5.50% Series D preferred shares, par value $0.0125 per share, with a liquidation preference of $25.00 per share. The Company could redeem the Series D preferred shares on or after June 1, 2018 at a redemption price of $25.00 per share. Dividends on the Series D preferred shares were non-cumulative. Holders of the Series D preferred shares are entitled to receive, only when, as and if declared by the Board of Directors, non-cumulative cash dividends from the original issue date, quarterly in arrears on the first day of March, June, September and December of each year, commencing on September 1, 2013. To the extent declared, dividends accumulate, with respect to each dividend period, in an amount per share equal to 5.50% of the liquidation preference per annum. On January 17, 2020, the Company redeemed all 9,000,000 Series D preferred shares, for an aggregate liquidation preference of $225 million. Series E Preferred Shares On November 7, 2016, the Company issued $550 million of 5.50% Series E preferred shares, par value $0.0125 per share, with a liquidation preference of $2,500 per share. The Company could redeem the Series E preferred shares on or after November 7, 2021 at a redemption price of $2,500 per share. Dividends on the Series E preferred shares are non-cumulative. Holders of the Series E preferred shares are entitled to receive, only when, as and if declared by the Board of Directors, non-cumulative cash dividends from the original issue date, quarterly in arrears on the fifteenth day of January, April, July and October of each year, commencing on January 15, 2017. To the extent declared, dividends accumulate, with respect to each dividend period, in an amount per share equal to 5.50% of the liquidation preference per annum. Dividends The following table presents dividends declared and paid related to the Company's common and preferred shares: Per share data Dividends declared Dividends paid in year of declaration Dividends paid in year following declaration Year ended December 31, 2021 Common shares $ 1.69 $ 1.26 $ 0.43 Series E preferred shares $ 137.50 $ 103.13 $ 34.38 Year ended December 31, 2020 Common shares $ 1.65 $ 1.23 $ 0.42 Series E preferred shares $ 137.50 $ 103.13 $ 34.38 Year ended December 31, 2019 Common shares $ 1.61 $ 1.20 $ 0.41 Series D preferred shares (1) $ 1.21 $ 1.03 $ 0.18 Series E preferred shares $ 137.50 $ 103.13 $ 34.38 (1) On January 17, 2020, the Company redeemed all 9,000,000 Series D preferred shares, for an aggregate liquidation preference of $225 million. The final dividend related to the Series D preferred shares was declared in 2019.

RETIREMENT PLANS

RETIREMENT PLANS	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
RETIREMENT PLANS	The Company maintains defined contribution plans to provide retirement benefits to eligible employees. Contributions to the plans, which are managed externally, are based on eligible compensation. For eligible U.S. employees, the Company provides a non-qualified deferred compensation plan that enables employees to make contributions to the plan that are in excess of those permitted under the Company's 401(k) Plan. In addition, employees are permitted to make additional contributions from any bonus received and to benefit from discretionary employer contribution to the Plan. For the year ended December 31, 2021, total pension expenses were $34 million (2020: $29 million and 2019: $28 million) for the above retirement benefits.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	In May 2017, shareholders approved the establishment of the AXIS Capital Holdings Limited 2017 Long-Term Equity Compensation Plan (the "2017 Plan"). The 2017 Plan provides for, among other things, the issuance of restricted shares, restricted stock units (share-settled awards and cash-settled awards), performance units (share-settled awards and cash-settled awards), stock options, stock appreciation rights and other equity-based awards to the Company's employees and directors. The 2017 Plan authorizes the issuance of a total of 3,400,000 common shares. On May 7, 2021, at the Annual General Meeting of Shareholders of the Company, the Company’s shareholders approved an amendment to the Company’s 2017 Plan to increase by 1,600,000 the number of common shares authorized for issuance under the Plan. The Company's 2017 Plan replaced its 2007 Long-Term Equity Compensation Plan ("2007 Plan") when it expired in May 2017. All remaining shares available for grant pursuant to the 2007 Plan have been canceled. Awards made pursuant to the 2007 Plan prior to its expiration remain in effect in accordance with the terms of the 2007 Plan. At December 31, 2021, 2,507,634 equity-based awards remained available for grant pursuant to the 2017 Plan. Restricted Stock Units - Share-Settled The grant date fair value of share-settled restricted stock units granted pursuant to the 2017 Plan is established at the fair market value of the Company's common shares at the date of grant. These awards either cliff vest at the end of a three year period, vest in accordance with a three year graded vesting schedule in three annual installments beginning on the grant date, or vest in accordance with a four year graded vesting schedule in four annual installments beginning on the grant date. Restricted Stock Units - Cash-Settled The grant date fair value of cash-settled restricted stock units granted pursuant to the 2017 Plan is established at the fair market value of the Company's common shares at the date of grant. These awards are liability awards and generally cliff vest at the end of a three year period, or vest in accordance with a four year graded vesting schedule in four annual installments beginning on the grant date. Performance Restricted Stock Units - Share-Settled and Cash-Settled Performance restricted stock units granted pursuant to the 2017 Plan represent the right to receive a specified number of common shares in the future, based on the achievement of established performance criteria and continued service during the applicable performance period. The grant date fair value of performance restricted stock units granted in 2021 was measured on the grant date using a Monte Carlo simulation model. The grant date fair value of performance restricted stock units granted prior to 2021 was established at the fair market value of the Company's common shares at the date of grant. Awards granted pursuant to the 2017 Plan generally cliff vest at the end of a three year period. Compensation expense is recognized on a straight-line basis over the applicable requisite service period and awards granted prior to 2021 are subject to periodic adjustment based on the achievement of established performance criteria during the applicable performance period. Effective 2017, performance restricted stock units granted are share-settled awards. Acceleration Provisions Grants provided under the 2017 Plan generally allow for accelerated vesting provisions on the employee’s death, permanent disability, or certain terminations following a change in control of the Company occurring within two years of the change in control event. Notwithstanding these vesting provisions, the Compensation Committee of the Company's Board of Directors has broad authority to accelerate vesting at its discretion. Retirement Plan In 2016, the Company established the AXIS Executive Restricted Stock Unit Retirement Plan (the "Plan") to reward certain eligible long-term employees of the Company for their dedicated service. The Plan was implemented in 2017. Subject to certain conditions being met, eligible employees do not forfeit all of their outstanding share-settled restricted stock units or cash-settled restricted stock units on or following their retirement. Absent the Plan, outstanding restricted stock units are generally forfeited on termination of employment. a) Performance Restricted Stock Units Performance Restricted Stock Units granted in 2021 Performance restricted stock units granted in 2021 include a market condition which is the Company’s total shareholder return relative to its peer group ("Relative TSR") over the performance period. Relative TSR is calculated in accordance with the terms of the applicable award agreement. If performance goals are achieved, these awards will cliff vest at the end of a three-year performance period within a range of 0% to 200% of target. Performance restricted stock units granted in 2021 were share-settled awards. Valuation assumptions The grant date fair value of performance restricted stock units granted in 2021 was measured on the grant date using a Monte Carlo simulation model. The following table provides details of the significant inputs used in the Monte Carlo simulation model: Year ended December 31, 2021 Expected volatility 32.99% Expected term (in years) 3.0 Expected dividend yield n/a Risk-free interest rate 0.17% Beginning share price: The beginning share price was based on the average closing share price over the 10 trading days preceding and including the start of the performance period. Ending share price: The ending share price was based on the average closing share price over the 10 trading days preceding and including the end of the performance period. Expected volatility: The expected volatility was estimated based on the Company's historical share price volatility. Expected term: Performance is measured from January 1, 2021 to December 31, 2023. Expected dividend yield: The expected dividend yield is not applicable to the performance restricted stock units as dividends are paid at the end of the vesting period and do not affect the value of the performance restricted stock units. Risk-free interest rate: The risk free rate was estimated based on the yield on a U.S. treasury zero-coupon bond issued with a remaining term equal to the vesting period of the performance restricted stock units. Compensation expense associated with performance restricted stock units granted in 2021 is determined on the grant date based on the fair value calculated by the Monte Carlo simulation model. The fair value of these awards is recognized on a straight-line basis over the requisite service period. Performance Restricted Stock Units g ranted in 2020 and 2019 Performance restricted stock units granted in 2020 and 2019 include a market condition which is the Company’s total shareholder return relative to its peer group ("Relative TSR") over the performance period. Relative TSR is calculated in accordance with the terms of the applicable award agreement. If performance goals are achieved, these awards will cliff vest at the end of a three-year performance period within a range of 75% to 125% of target. Performance restricted stock units granted in 2020 and 2019 were share-settled awards. Compensation expense associated with performance restricted stock units granted in 2020 and 2019 is determined based on market value of the Company's common shares measured at the grant date. The fair value of these awards is recognized on a straight-line basis over the requisite service period and is subject to periodic adjustment based on the achievement of established performance criteria during the performance period. Performance Restricted Stock Units g ranted in 2018 Performance restricted stock units granted in 2018 included a performance condition which was growth in the Company’s book value per diluted common share adjusted for dividends over three years compared to its peer group. Growth in book value per diluted common share adjusted for dividends was calculated in accordance with the terms of the applicable award agreements. Where performance goals were achieved, these awards cliff vested at the end of the three-year performance period within a range of 0% to 200% of target. Performance restricted stock units granted in 2018 were share-settled awards. Compensation expense associated with performance restricted stock units granted in 2018 was determined based on market value of the Company's common shares measured at the grant date. The fair value of these awards was recognized on a straight-line basis over the requisite service period and was subject to periodic adjustment based on the achievement of established performance criteria during the performance period. b) Share-Settled Awards The following table provides an activity summary of the Company's share-settled restricted stock units: Share-Settled Performance Share-Settled Service Number of Weighted average grant date Number of Weighted average Nonvested restricted stock units - December 31, 2019 258 $ 53.31 1,273 $ 54.32 Granted 97 62.26 894 58.98 Vested (27) 64.01 (561) 55.29 Forfeited (39) 48.89 (105) 57.54 Nonvested restricted stock units - December 31, 2020 289 55.92 1,501 56.50 Granted 122 49.04 1,250 48.04 Vested (66) 48.89 (561) 56.42 Forfeited (34) 55.68 (128) 53.37 Nonvested restricted stock units - December 31, 2021 311 $ 54.75 2,062 $ 51.59 c) Cash-Settled Awards The following table provides an activity summary of the Company's cash-settled restricted stock units: Cash-Settled Performance Restricted Stock Units Cash-Settled Service Restricted Stock Units Number of Number of Nonvested restricted stock units - December 31, 2019 6 853 Granted — 1 Vested (6) (332) Forfeited — (51) Nonvested restricted stock units - December 31, 2020 — 471 Granted — — Vested — (233) Forfeited — (23) Nonvested restricted stock units - December 31, 2021 — 215 The following table provides additional information related to share-based compensation: Year ended December 31, 2021 2020 2019 Share-based compensation expense (1) $ 49,415 $ 47,789 $ 52,218 Tax benefits associated with share-based compensation expense $ 7,613 $ 8,061 $ 8,913 Liability for cash-settled restricted stock units (2) $ 9,091 $ 13,273 $ 21,731 Fair value of restricted stock units vested (3) $ 42,967 $ 50,757 $ 51,206 Unrecognized share-based compensation expense $ 80,805 $ 74,014 $ 75,770 Expected weighted average period associated with the recognition of unrecognized share-based compensation expense 2.4 years 2.4 years 2.3 years (1) Related to share-settled restricted stock units and cash-settled restricted stock units. (2) Included in other liabilities in the consolidated balance sheets. (3) Fair value is based on the closing price of the Company's common shares on the vest date.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	A member of the Company’s Board of Directors, Mr. Charles Davis, is the Chief Executive Officer of Stone Point Capital, LLC ("Stone Point"). In the ordinary course of business, the Company engages SKY Harbor Capital Management, LLC, an affiliate of Stone Point, to provide asset management services for certain high yield debt portfolios. For the year ended December 31, 2021, total fees paid to SKY Harbor Capital Management, LLC, were $2 million (2020: $3 million; 2019: $3 million). In addition, the Company has an investment of $47 million in t he Freedom Consumer Credit Fund, LLC - Series B. The manager of this fund is Freedom Financial Asset Management, LLC ("Freedom") which is an indirect subsidiary of Pantheon Partners, LLC ("Pantheon"). Investment funds managed by Stone Point own approximately 14.5% of Pantheon. For the year ended December 31, 2021, fees paid to Freedom were $3 million (2020: $2 million; 2019: $3 million). The Company has an investment of $79 million in Stone Point's private equity fund, Trident VIII L.P. ("Trident VIII") and co-investments of $25 million with Trident VIII. For the year ended December 31, 2021, fees pai d to Stone Point in relation to Trident VIII were $4 million (2020 : $1 million ; 2019: $nil ). The Company has an investment of $20 million with Rialto Real Estate IV-Property and co-investments of $16 million with Rialto Real Estate Fund IV-Property, a fund managed by a portfolio company of Stone Point's private equity fund, Trident VII L.P. For the year ended December 31, 2021, fees paid to Rialto were $1 million (2020: $nil; 2019: $nil). The Company has an investment of $12 million in Stone Point Credit Corporation. For the year ended December 31, 2021, the Company has not paid any fees to Stone Point in relation to Stone Point Credit Corporation. During his tenure as the Company's Chair, Mr. Butt received consulting fees for the year ended December 31, 2020 of $0.4 million (2019: $0.4 million) pursuant to the terms of a consulting agreement between Mr. Butt and the Company which terminated on December 31, 2020. The Company's investment portfolio includes certain investments where it is considered to have the ability to exercise significant influence over the operating and financial policies of the investee. Significant influence is generally deemed to exist where the Company has an investment of 20% or more in the common stock of a corporation or an investment greater than 3% to 5% in closed end funds, limited partnerships, LLCs or similar investment vehicles. At December 31, 2021, the Company h as $555 million (2020: $404 million) of investments where it is deemed to have the ability to exercise such significant influence. The Company generally pays management and performance fees to the investment managers of these investments. The Company considers all fees paid to the investment managers to be at market rates consistent with negotiated arms-length contracts. Harrington and Harrington Re commenced operations in 2016 (refer to Note 5 ' Investments '). The Company has the ability to exercise significant influence over the operating and financial policies of Harrington and Harrington Re. In the normal course of business, the Company enters into certain reinsurance transactions with Harrington Re. For the year ended December 31, 2021, the Company ceded reinsurance premiums of $283 million (2020: $256 million; 2019: $247 million) and ceded losses of $188 million (2020: $187 million; 2019: $157 million) to Harrington Re. In addition, Harrington Re paid certain acquisition costs and administrative fees to the Company. At December 31, 2021, the amount of reinsurance recoverable on unpaid and paid losses was $717 million (2020: $641 million) and the amount of ceded reinsurance payable included in insurance and reinsurance balances payable was $189 million (2020: $188 million) in the consolidated balance sheets. All transactions were conducted at market rates consistent with negotiated arms-length contracts. On June 29, 2021, the Company invested $10 million in 7.25% fixed to floating rate, senior unsecured notes due 2031, issued by Harrington.

REORGANIZATION EXPENSES

REORGANIZATION EXPENSES	12 Months Ended
	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
REORGANIZATION EXPENSES	For the year ended December 31, 2021, reorganization expenses were $nil (2020: $8 million and 2019: $37 million), respectively, related to the Company's transformation program which was launched in 2017. This program encompasses the integration of Novae, which commenced in the fourth quarter of 2017, the realignment of the Company's accident and health business, together with other initiatives designed to increase efficiency and enhance profitability while delivering a customer-centric operating model.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	Under current Bermuda law, AXIS Capital's Bermuda domiciled subsidiaries are not required to pay any taxes in Bermuda on income or capital gains. The Company has received an assurance from the Minister of Finance in Bermuda that, in the event of any taxes being imposed, it will be exempt from taxation in Bermuda until March 2035. The Company's primary Bermuda subsidiary has an operating branch in Singapore, which is subject to the relevant taxes in that jurisdiction. The Singapore branch is not under examination in that tax jurisdiction but remains subject to examination for tax years 2018 through 2021. AXIS Capital's U.S. subsidiaries are subject to federal, state and local corporate income taxes, and other taxes applicable to U.S. corporations. The provision for federal income taxes has been determined under the principles of the consolidated tax provisions of the U.S. Internal Revenue Code and regulations. Should the U.S. subsidiaries pay a dividend outside the U.S. group, withholding taxes will apply. The Company's U.S. subsidiaries are not under examination but remain subject to examination for tax year s 2018 through 2021. In Canada, AXIS Capital's U.S. reinsurance company operates through a branch and its U.S. service company has an unlimited liability company subsidiary based in Canada. The Canadian operations are subject to the relevant taxes in that jurisdiction and remain subject to examination for tax years 2017 through 2021. AXIS Capital had subsidiaries in Ireland, the U.K., and Brazil in 2021. The Company ceased operations in Luxembourg in December 2019 and in Dubai in March 2021. Effective January 1, 2021, AXIS Capital's Irish operations had branches in the U.K., Switzerland, Belgium and the Netherlands. The Company ceased operations in the Netherlands in December 31, 2021. There are ongoing audits in Ireland, with respect to 2016, 2017 and 2019 tax years, and Belgium, with respect to 2018 and 2019 tax years. There are no other ongoing audits of AXIS Capital's subsidiaries or branches, but they remain subject to examination in all applicable jurisdictions for tax years 2017 through 2021. In the U.K., the Company operates through Lloyd’s syndicates whose income is subject to tax in the U.K., payable by its corporate members. The income from operations at Lloyd’s is also subject to taxes in other jurisdictions in which Lloyd's operates, including the U.S. Under a Closing Agreement between Lloyd’s and the IRS, Lloyd's corporate members pay U.S. income tax on U.S. connected income written by Lloyd’s syndicates. To the extent that the Lloyd’s syndicates incur taxes outside the U.K., they may claim a credit for foreign taxes incurred, limited to the U.K. equivalent tax on the same income. The following table provides an analysis of income tax expense (benefit) and net tax assets: Year ended December 31, 2021 2020 2019 Current income tax expense (benefit) U.S. $ 35,229 $ (1,122) $ 12,601 Europe (6,082) 365 22,425 Other — — 469 Deferred income tax expense (benefit) U.S. (3,369) (3,098) 17,665 Europe 36,606 (8,466) (29,468) Total income tax expense (benefit) $ 62,384 $ (12,321) $ 23,692 Net current tax receivables $ 27,883 $ 12,205 $ 13,130 Net deferred tax assets (liabilities) 12,860 (1,625) 18,621 Net tax assets $ 40,743 $ 10,580 $ 31,751 Deferred income taxes reflect the tax impact of temporary differences between the carrying amounts of assets and liabilities for financial reporting and income tax purposes. The following table provides details of the significant components of deferred tax assets and liabilities: At December 31, 2021 2020 Deferred tax assets: Discounting of net reserves for losses and loss expenses $ 53,415 $ 47,912 Unearned premiums 53,342 46,049 Operating and capital loss carryforwards (1) 85,358 80,008 Accruals not currently deductible 38,294 28,096 Tax credits 2,709 11,142 Other deferred tax assets 5,040 4,352 Deferred tax assets before valuation allowance 238,158 217,559 Valuation allowance (16,918) (20,778) Deferred tax assets net of valuation allowance 221,240 196,781 Deferred tax liabilities: Deferred acquisition costs (34,845) (37,098) Net unrealized investments gains (23,866) (39,459) Intangible assets (52,722) (46,132) Equalization reserves (2,365) (2,825) Acquisition adjustments (79,464) (60,261) Other deferred tax liabilities (15,118) (12,631) Deferred tax liabilities (208,380) (198,406) Net deferred tax assets (liabilities) $ 12,860 $ (1,625) (1) At December 31, 2021 and 2020, the total operating loss carryforwards includes Lloyd's deferred year of account losses of $nil and $39 million, respectively. The following table summarizes total operating and capital loss carryforwards and tax credits: At December 31, 2021 2020 Operating and Capital Loss Carryforwards (1) Singapore (branch) operating loss carryforward $ 76,287 $ 110,504 U.K. operating loss carryforward (2) 308,491 357,226 Ireland operating loss carryforward 11,850 404 Ireland capital loss carryforward 716 716 Switzerland operating loss carryforward 15,989 — Belgian operating loss carryforward — 1,850 Tax Credits (1) Ireland foreign tax credit $ 338 $ 2,386 U.K. foreign tax credit 2,372 8,756 (1) At December 31, 2021, all remaining operating and capital loss carryforwards and tax credits can be carried forward indefinitely. (2) At December 31, 2021 and 2020, the U.K. operating loss carryforward includes Lloyd's deferred year of account losses of $nil and $206 million, respective ly. The following table shows an analysis of the movement in the Company's valuation allowance: At December 31, 2021 2020 Income tax expense: Valuation allowance - beginning of year $ 20,778 $ 18,560 Operating loss carryforwards (3,422) 661 Foreign tax credit (2,048) 293 U.K. branch assets and other foreign rate differentials 1,610 1,264 Valuation allowance - end of year $ 16,918 $ 20,778 At December 31, 2021 and 2020, the Company had a full valuation allowance on operating loss carryforwards relating to operations in Singapore, un-utilized foreign tax credits available in Ireland and certain other deferred tax assets related to branch operations. Although realization is not assured, management believes it is more likely than not that the tax benefit of the recorded net deferred tax assets will be realized. In evaluating the Company's ability to recover these tax assets within the jurisdiction from which they arise, it considered all available positive and negative evidence, including historical results, operating loss carry-back potential and scheduled reversals of deferred tax liabilities. The Company believes its U.S. and U.K. operations will produce significant taxable income in future periods and have deferred tax liabilities that will reverse in future periods, such that the Company believes sufficient ordinary taxable income is available to utilize all remaining ordinary deferred tax assets. A deferred tax liability has not been recorded on undistributed earnings as the U.S. group satisfies the indefinite reversal criteria. At December 31, 2021 and 2020, there were no unrecognized tax benefits. The following table presents the distribution of income before income taxes between domestic and foreign jurisdictions as well as a reconciliation of the actual income tax rate to the amount computed by applying the effective tax rate of 0% under Bermuda law to income before income taxes: Year ended December 31, 2021 2020 2019 Income (loss) before income taxes Bermuda (domestic) $ 431,310 $ (45,951) $ 179,418 Foreign 249,686 (86,794) 167,747 Total income (loss) before income taxes $ 680,996 $ (132,745) $ 347,165 Reconciliation of effective tax rate (% of income before income taxes) Expected tax rate 0.0 % 0.0 % 0.0 % Foreign taxes at local expected rates: U.S. 4.8 % 5.6 % 8.1 % Europe 2.0 % 9.2 % 0.4 % Valuation allowance (0.5 %) (1.7 %) 1.3 % Change in enacted tax rate (1) 1.5 % (1.7 %) 0.0 % Other 1.4 % (2.1 %) (3.0 %) Actual tax rate 9.2 % 9.3 % 6.8 % (1) At December 31, 2021, the change in enacted tax rate included a change in the UK tax rate from 19% to 25% and in Belgium from 29.58% to 25%. At December 31, 2020, the change in enacted tax rate included a change in UK tax rate from 17% to 19%.

OTHER COMPREHENSIVE INCOME (LOS

OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
OTHER COMPREHENSIVE INCOME (LOSS)	The following table presents the tax effects allocated to each component of other comprehensive income (loss): Before tax amount Income tax (expense) benefit Net of tax amount Year ended December 31, 2021 Available for sale investments: Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized $ (310,710) $ 39,263 $ (271,447) Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has been recognized 81 — 81 Adjustment for reclassification of net realized (gains) losses and impairment losses recognized in net income (loss) (94,749) 7,635 (87,114) Unrealized gains (losses) arising during the year, net of reclassification adjustment (405,378) 46,898 (358,480) Foreign currency translation adjustment 621 — 621 Total other comprehensive income (loss), net of tax $ (404,757) $ 46,898 $ (357,859) Year ended December 31, 2020 Available for sale investments: Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized $ 360,357 $ (43,191) $ 317,166 Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has been recognized (40) — (40) Adjustment for reclassification of net realized (gains) losses and impairment losses recognized in net income (loss) (90,380) 12,368 (78,012) Unrealized gains (losses) arising during the year, net of reclassification adjustment 269,937 (30,823) 239,114 Foreign currency translation adjustment 3,571 — 3,571 Total other comprehensive income (loss), net of tax $ 273,508 $ (30,823) $ 242,685 Year ended December 31, 2019 Available for sale investments: Unrealized gains (losses) arising during the year $ 414,982 $ (40,367) $ 374,615 Adjustment for reclassification of net realized (gains) losses and OTTI losses recognized in net income (loss) (29,618) 4,889 (24,729) Unrealized gains (losses) arising during the year, net of reclassification adjustment 385,364 (35,478) 349,886 Foreign currency translation adjustment (1,066) — (1,066) Total other comprehensive income (loss), net of tax $ 384,298 $ (35,478) $ 348,820 The following table presents details of amounts reclassified from accumulated other comprehensive income ("AOCI") to net income (loss): Amounts reclassified from AOCI (1) AOCI components Consolidated statement of operations line item that includes reclassification adjustment Years ended December 31, 2021 2020 2019 Unrealized gains (losses) on available for sale investments Other realized gains (losses) $ 94,771 $ 91,866 $ 36,602 Impairment losses (22) (1,486) — OTTI losses — — (6,984) Total before tax 94,749 90,380 29,618 Income tax (expense) benefit (7,635) (12,368) (4,889) Net of tax $ 87,114 $ 78,012 $ 24,729 Foreign currency translation adjustments (2) Foreign exchange gains (losses) $ — $ — $ 6,043 Income tax (expense) benefit — — — Net of tax $ — $ — $ 6,043 (1) Amounts in parentheses are charges to net income (loss). (2) The Company released the cumulative translation adjustment related to Aviabel Re S.A of $6 million from AOCI in the consolidation balance sheet to foreign exchange losses (gains) in the consolidated statement of operations associated with the liquidation of that entity on December 18, 2019.

STATUTORY FINANCIAL INFORMATION

STATUTORY FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2021
STATUTORY FINANCIAL INFORMATION [Abstract]
STATUTORY FINANCIAL INFORMATION	The Company's insurance and reinsurance operations are subject to insurance and reinsurance laws and regulations in the jurisdictions in which they operate, the most significant of which include Bermuda, Ireland, and the U.S. In addition, the Company is regulated by Lloyd's. These regulations include certain restrictions on the amount of dividends or other distributions, such as loans or cash advances, available to shareholders without prior approval from insurance regulatory authorities. The statutory capital and surplus in each of the Company's most significant regulatory jurisdictions is shown in the following table: Bermuda Ireland U.S. At December 31, 2021 2020 2021 2020 2021 2020 Required statutory capital and surplus $ 1,517,485 $ 1,584,854 $ 755,270 $ 778,493 $ 626,973 $ 542,824 Available statutory capital and surplus $ 3,067,879 $ 3,004,077 $ 1,147,194 $ 1,085,317 $ 1,885,383 $ 1,685,684 Bermuda Under the Insurance Act 1978, amendments thereto and related regulations of Bermuda (the "Act"), the Company's Bermuda subsidiary, AXIS Specialty Bermuda is required to maintain minimum statutory capital and surplus equal to the greater of a minimum solvency margin ("MSM") and the Enhanced Capital Requirement ("ECR"). The MSM is the greater of $100 million, 50% of net premiums written, 15% of net reserve for losses and loss expenses, and 25% of the ECR. The Company's ECR is calc ulated based on a standard risk-based capital model developed by the Bermuda Monetary Authority ("BMA"). In 2016, the BMA implemented an Economic Balance Sheet ("EBS") framework which is used as the basis to determine the ECR. At December 31, 2021 and 2020, the required and available statutory capital and surplus were based on this EBS framework. Under the Act, AXIS Specialty Bermuda is restricted as to the payment of dividends for amounts greater than 25% of the prior year’s statutory capital and surplus, whereby an affidavit signed by at least two members of the Board of Directors is required, attesting that any dividend in excess of this amount would not cause the Company to fail to meet its relevant margins. At December 31, 2021, the maximum dividend AXIS Specialty Bermuda could pay, without a signed affidavit, having met minimum levels of statutory capital and surplus requirements, was approximately $782 million (2020: $792 million). Ireland Effective January 1, 2016, the Company's Irish subsidiaries, AXIS Specialty Europe and AXIS Re SE, are required to maintain the Minimum Capital Requirement ("MCR") and the Solvency Capital Requirement ("SCR") at all times. The capital requirements are calculated by reference to Solvency II definitions. If an entity falls below the MCR or SCR, the Central Bank of Ireland is authorized to take action to restore the financial position of the Comp any's Irish subsidiaries. During 2021 and 2020, the Company's Irish subsidiaries were in compliance with these requirements. The Company's Irish subsidiaries may declare dividends subject to meeting their solvency and capital requirements. The maximum dividend is limited to "excess eligible own funds" which is defined as excess Solvency II capital over the SCR and may also be limited to "profits available for distribution'', which is defined as accumulated realized profits less accumulated realized losses and statutory reserves . In response to the ongoing COVID-19 pandemic, the Central Bank of Ireland requires the Company's Irish subsidiaries to notify the regulator prior to any distribution being made. The Central Bank of Ireland then has 30 days to request further information from the Company's Irish subsidiaries and where no further communication is received from the regulator the Company's Irish subsidiaries are free to proceed with the dividend distribution . A t December 31, 2021, the maximum dividend the Company's Irish subsidiaries could pay, having met their solvency and capital requirements was approximately $25 million (2020: $11 million). United States The Company's U.S. operations required statutory capital and surplus is determined using the risk-based capital formula ("RBC"), which is the National Association of Insurance Commissioners' (the "Commissioner") method of measuring the minimum capital appropriate for U.S. reporting entities to support its overall business operations in consideration of its size and risk profile. If a company falls below the authorized control level as determined under the RBC, the Commissioner is authorized to take whatever regulatory actions may be considered necessary to protect policyholders and creditors. The maximum dividend that may be paid by the Company's U.S. insurance subsidiaries is restricted by the regulatory requirements of the domiciliary states. Generally, the maximum dividend that may be paid by each of the Company's U.S. insurance subsidiaries is limited to unassigned surplus (statutory equivalent of retained earnings) and may also be limited to statutory net income, net investment income or 10% of total statutory capital and surplus. At December 31, 2021, the maximum dividend that the Company's U.S. insurance operations could pay without regulatory approval was approximately $120 million (2020: $110 million). Lloyd's of London The Company operates in the Lloyd’s market through its corporate members, AXIS Corporate Capital UK Limited and AXIS Corporate Capital UK II Limited, which provide 70% and 30%, respectively, of Syndicate 1686's capital support. Effective August 4, 2017, AXIS Managing Agency assumed management of Syndicate 1686. Corporate members of Lloyd’s and Lloyd’s syndicates are bound by the rules of Lloyd’s, which are prescribed by Bye-laws and Requirements made by the Council of Lloyd’s under powers conferred by the Lloyd’s Act 1982. These rules prescribe members’ membership subscription, the level of their contribution to the Lloyd’s Central Fund and the assets they must deposit with Lloyd’s in support of their underwriting. The Council of Lloyd’s has broad powers to sanction breaches of its rules, including the power to restrict or prohibit a member’s participation on Lloyd’s syndicates. The capital provided to support underwriting, or FAL, is not available for distribution for the payment of dividends or for working capital requirements. Corporate members may also be required to maintain funds under the control of Lloyd’s in excess of their capital requirements and such funds also may not be available for distribution for the payment of dividends. Lloyd’s sets the corporate members’ required capital annually and reviews funds held compared to latest capital requirements on a quarterly basis. This process is supported by the application of a capital model that is based on regulatory rules pursuant to Solvency II. FAL may be satisfied by cash, certain investments and letter s of credit provided by approved banks. At December 31, 2021, fixed maturities and short-term investments with a fair value of $658 million (2020: $746 million) and cash of $19 million (2020: $12 million), respectively, were restricted to satisfy AXIS Corporate Capital UK Limited FAL requirements. At December 31, 2021, fixed maturities and short-term investments with a fair value of $225 million (2020: $361 million), equity securities with a fair value of $28 million (2020: $23 million), and cash of $6 million (2020: $14 million) were restricted to satisfy AXIS Corporate Capital UK II Limited FAL requirements (refer to Note 5 ' Investments '). Corporate members can apply to Lloyd's to release accumulated funds, whether syndicate profits or interest on FAL, which are in excess of the agreed FAL requirements on a quarterly basis. At December 31, 2021 and 2020, actual capital and assets exceeded the FAL requirements for Syndicates 1686 and 2007. During 2021, net funds of $60 million (2020: $32 million) were released from FAL. Both AXIS Corporate Capital UK Limited and AXIS Corporate Capital UK II Limited continue to support the FAL requirements of Syndicates 1686. Branch Offices The Company's operating subsidiaries in Bermuda and the U.S. maintain branch offices in Singapore and Canada, respectively. The Company's Irish operating subsidiaries maintain branch offices in Switzerland, the U.K. and Belgium. The Company's Irish operating subsidiaries also maintained a branch office in the Netherlands until December 31, 2021. As branch offices are not considered separate entities for regulatory purposes, the required and actual statutory capital and surplus amounts for each jurisdiction in the table above, include amounts related to the applicable branch offices. The Company's branch offices in Singapore and Canada are subject to additional minimum capital or asset requirements in their countries of domicile. At December 31, 2021 and 2020, the actual capital/assets for each of these branches exceeded the relevant local regulatory requirements. Total statutory net income (loss) of the Co mpany's operating subsidiaries was $569 million , $85 million, and $364 million for 2021, 2020 and 2019, respectively. The differences between statutory financial statements and statements prepared in accordance with U.S. GAAP vary by jurisdiction, however, the primary differences are that statutory financial statements may not reflect deferred acquisition costs, certain net deferred tax assets, goodwill and intangible assets, unrealized gains (losses) on fixed maturities or certain unauthorized reinsurance recoverable balances.

SCHEDULE I - SUMMARY OF INVESTM

SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES	AXIS CAPITAL HOLDINGS LIMITED SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES At December 31, 2021 Amortized cost Fair value Amount shown on the balance sheet (in thousands) Type of investment: Fixed maturities, available for sale, at fair value U.S. government and agency $ 2,693,319 $ 2,682,448 $ 2,682,448 Non-U.S. government 794,705 795,178 795,178 Corporate debt 4,446,585 4,495,312 4,495,312 Agency RMBS 1,065,973 1,074,589 1,074,589 CMBS 1,223,051 1,248,191 1,248,191 Non-agency RMBS 185,854 186,164 186,164 ABS 1,628,739 1,622,480 1,622,480 Municipals 203,556 208,838 208,838 Total fixed maturities, available for sale $ 12,241,782 12,313,200 12,313,200 Fixed maturities, held to maturity, at amortized cost Corporate debt $ 37,700 37,572 37,700 ABS 408,316 407,461 408,316 Total fixed maturities, held to maturity $ 446,016 445,033 446,016 Mortgage loans, held for investment, at fair value 594,088 594,088 Short-term investments, at fair value 31,063 31,063 Equity securities, at fair value 655,675 655,675 Other investments, at fair value (1) 539,299 947,982 Equity method investments (2) — 146,293 Total investments $ 14,578,358 $ 15,134,317 (1) Other investments exclude investments where the Company is considered to have the ability to exercise significant influence over the operating and financial policies of the investees. (2) Equity method investments are excluded as the Company has the ability to exercise significant influence over the operating and financial policies of the investees.

SCHEDULE II - CONDENSED FINANCI

SCHEDULE II - CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY ONLY	12 Months Ended
	Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]
SCHEDULE II - FOOTNOTES	AXIS CAPITAL HOLDINGS LIMITED CONDENSED BALANCE SHEETS – PARENT COMPANY DECEMBER 31, 2021 AND 2020 2021 2020 (in thousands) Assets Investments in subsidiaries $ 5,676,653 $ 5,633,176 Cash and cash equivalents 1,531 1,711 Other assets 6,525 5,832 Total assets $ 5,684,709 $ 5,640,719 Liabilities Intercompany payable $ 192,618 $ 289,486 Dividends payable 51,775 50,153 Other liabilities 29,660 5,386 Total liabilities 274,053 345,025 Shareholders’ equity Preferred shares 550,000 550,000 Common shares (shares issued 2021: 176,580; 2020: 176,580 shares outstanding 2021: 84,774; 2020: 84,353) 2,206 2,206 Additional paid-in capital 2,346,179 2,330,054 Accumulated other comprehensive income 56,536 414,395 Retained earnings 6,204,745 5,763,607 Treasury shares, at cost (2021: 91,806; 2020: 92,227) (3,749,010) (3,764,568) Total shareholders’ equity 5,410,656 5,295,694 Total liabilities and shareholders’ equity $ 5,684,709 $ 5,640,719 (1) AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance PLC, a 100% owned finance subsidiary, related to the issuance of $250 million aggregate principal amount of 5.15% senior unsecured notes. AXIS Capital's obligations under this guarantee are unsecured senior obligations and rank equally with all other senior obligations of AXIS Capital. (2) AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance PLC, a 100% owned finance subsidiary, related to the issuance of $350 million aggregate principal amount of 4.0% senior unsecured notes. AXIS Capital's obligations under this guarantee are unsecured senior obligations and rank equally with all other senior obligations of AXIS Capital. (3) AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance LLC, a 100% owned finance subsidiary, related to the issuance of $300 million aggregate principal amount of 3.9% senior unsecured notes. AXIS Capital's obligations under this guarantee are unsecured senior obligations and rank equally with all other senior obligations of AXIS Capital. (4) AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance LLC, a 100% owned finance subsidiary, related to the issuance of $425 million aggregate principal amount of 4.9% fixed-rate reset junior unsecured notes. AXIS Capital's obligation under this guarantee is an unsecured junior subordinated obligation and ranks equally with all future unsecured and junior subordinated obligations of AXIS Capital, and junior in right of payment to all outstanding and future senior obligations of AXIS Capital. SCHEDULE II AXIS CAPITAL HOLDINGS LIMITED CONDENSED STATEMENTS OF OPERATIONS – PARENT COMPANY YEARS ENDED DECEMBER 31, 2021, 2020 AND 2019 2021 2020 2019 (in thousands) Revenues Net investment income $ — $ 750 $ 1,800 Total revenues — 750 1,800 Expenses General and administrative expenses 62,843 37,629 53,335 Total expenses 62,843 37,629 53,335 Income (loss) before equity in net income (loss) of subsidiaries (62,843) (36,879) (51,535) Equity in net income (loss) of subsidiaries 681,452 (83,545) 375,008 Net income (loss) 618,609 (120,424) 323,473 Preferred share dividends 30,250 30,250 41,112 Net income (loss) available (attributable) to common shareholders $ 588,359 $ (150,674) $ 282,361 Comprehensive income $ 260,750 $ 122,261 $ 672,293 SCHEDULE II AXIS CAPITAL HOLDINGS LIMITED CONDENSED STATEMENTS OF CASH FLOWS – PARENT COMPANY YEARS ENDED DECEMBER 31, 2021, 2020 AND 2019 2021 2020 2019 (in thousands) Cash flows from operating activities: Net income (loss) $ 618,609 $ (120,424) $ 323,473 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Equity in net (income) loss of subsidiaries (681,452) 83,545 (375,008) Change in intercompany payable (96,868) 73,575 (32,081) Dividends received from subsidiaries 300,000 350,000 250,000 Other items 45,626 20,715 23,619 Net cash provided by operating activities 185,915 407,411 190,003 Cash flows from financing activities: Taxes paid on withholding shares (10,242) (10,382) (10,165) Dividends paid - common shares (145,603) (141,590) (137,209) Repurchase of preferred shares — (225,000) — Dividends paid - preferred shares (30,250) (31,831) (42,625) Net cash used in financing activities (186,095) (408,803) (189,999) Increase (decrease) in cash, cash equivalents and restricted cash (180) (1,392) 4 Cash, cash equivalents and restricted cash - beginning of year 1,711 3,103 3,099 Cash, cash equivalents and restricted cash - end of year $ 1,531 $ 1,711 $ 3,103

SCHEDULE III - SUPPLEMENTARY IN

SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION	AXIS CAPITAL HOLDINGS LIMITED SUPPLEMENTARY INSURANCE INFORMATION At and year ended December 31, 2021 (in thousands) Deferred Reserve Unearned Net Net investment income (1) Net losses Acquisition Other operating expenses (2) Net Insurance $ 212,681 $ 7,803,529 $ 2,716,240 $ 2,651,339 $ — $ 1,514,998 $ 484,344 $ 429,282 $ 2,894,885 Reinsurance 252,912 6,849,565 1,374,436 2,058,511 — 1,493,785 437,490 107,552 2,031,739 Corporate — — — — 454,301 — — 126,470 — Total $ 465,593 $ 14,653,094 $ 4,090,676 $ 4,709,850 $ 454,301 $ 3,008,783 $ 921,834 $ 663,304 $ 4,926,624 At and year ended December 31, 2020 (in thousands) Deferred Reserve Unearned Net Net investment income (1) Net losses Acquisition Other operating expenses (2) Net Insurance $ 176,749 $ 7,310,498 $ 2,295,763 $ 2,299,038 $ — $ 1,697,014 $ 461,533 $ 378,839 $ 2,357,501 Reinsurance 254,690 6,616,268 1,390,123 2,072,271 — 1,584,238 467,984 99,129 1,978,908 Corporate — — — — 349,601 — — 101,822 — Total $ 431,439 $ 13,926,766 $ 3,685,886 $ 4,371,309 $ 349,601 $ 3,281,252 $ 929,517 $ 579,790 $ 4,336,409 At and year ended December 31, 2019 (in thousands) Deferred Reserve Unearned Net Net investment income (1) Net losses Acquisition Other operating expenses (2) Net Insurance $ 191,925 $ 6,496,568 $ 2,115,664 $ 2,190,084 $ — $ 1,278,679 $ 468,281 $ 401,963 $ 2,209,155 Reinsurance 300,194 6,255,513 1,510,582 2,397,094 — 1,766,119 556,301 103,772 2,280,460 Corporate — — — — 478,572 — — 129,096 — Total $ 492,119 $ 12,752,081 $ 3,626,246 $ 4,587,178 $ 478,572 $ 3,044,798 $ 1,024,582 $ 634,831 $ 4,489,615 (1) The Company evaluates underwriting results of its reportable segments separately from the performance of its investment portfolio therefore, the Company believes it is appropriate to exclude net investment income from its underwriting profitability measure. (2) Amounts related to the Company's reportable segments reflect underwriting-related general and administrative expenses, which includes those general and administrative expenses that are incremental and/or directly attributable to the Company's underwriting operations. Underwriting-related general and administrative expenses is a non-GAAP financial measure as defined in Item 10(e) of SEC Regulation S-K. The reconciliation to general and administrative expenses, the most comparable GAAP financial measure, presented in the table above, also includes corporate expenses of $126 million, $102 million, and $129 million for the years ended December 31, 2021, 2020 and 2019, respectively. Corporate expenses include holding company costs necessary to support our worldwide insurance and reinsurance operations and costs associated with operating as a publicly-traded company. As these costs are not incremental and/or directly attributable to the Company's underwriting operations, these expenses are excluded from underwriting-related general and administrative expenses.

SCHEDULE IV - SUPPLEMENTARY REI

SCHEDULE IV - SUPPLEMENTARY REINSURANCE INFORMATION	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
SCHEDULE IV - SUPPLEMENTARY REINSURANCE INFORMATION	AXIS CAPITAL HOLDINGS LIMITED SUPPLEMENTARY REINSURANCE INFORMATION YEARS ENDED DECEMBER 31, 2021, 2020 AND 2019 (in thousands) GROSS CEDED TO ASSUMED NET PERCENTAGE 2021 Property and Casualty $ 4,233,758 $ 2,700,693 $ 2,874,687 $ 4,407,752 65.2 % Accident and Health 171,694 58,667 405,845 518,872 78.2 % Total $ 4,405,452 $ 2,759,360 $ 3,280,532 $ 4,926,624 66.6 % 2020 Property and Casualty $ 3,455,690 $ 2,446,890 $ 2,840,834 $ 3,849,634 73.8 % Accident and Health 154,511 43,639 375,903 486,775 77.2 % Total $ 3,610,201 $ 2,490,529 $ 3,216,737 $ 4,336,409 74.2 % 2019 Property and Casualty $ 3,134,462 $ 2,311,001 $ 3,187,623 $ 4,011,084 79.5 % Accident and Health 141,535 98,242 435,238 478,531 91.0 % Total $ 3,275,997 $ 2,409,243 $ 3,622,861 $ 4,489,615 80.7 %

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and the rules and regulations of the U.S. Securities and Exchange Commission ("SEC") and include AXIS Capital Holdings Limited and its wholly-owned subsidiaries.Tabular dollar and share amounts are in thousands, with the exception of per share amounts. All amounts are reported in U.S. dollars.
Consolidation/VIEs	All inter-company accounts and transactions have been eliminated.
Use of Estimates	The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. While management believes that the amounts included in the consolidated financial statements reflect its best estimates and assumptions, actual results could differ from those estimates. The Company’s principal estimates include: • reserve for losses and loss expenses; • reinsurance recoverable on unpaid losses and loss expenses, including the allowance for expected credit losses; • gross premiums written and net premiums earned; • fair value measurements of financial assets and liabilities; and • the allowance for credit losses associated with fixed maturities, available for sale.
Investments	Fixed Maturities, Available for Sale, at Fair Value and Fixed Maturities, Held to Maturity, at Amortized Cost Fixed maturities classified as available for sale are reported at fair value (refer to Note 6 ' Fair Value Measurements ') and are presented net of an allowance for expected credit losses. The change in fair values of fixed maturities, net of tax is recognized in accumulated other comprehensive income (loss) ("AOCI") in the consolidated statement of changes in shareholders’ equity. Fixed maturities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity or redemption. Fixed maturities classified as held to maturity are reported at amortized cost and are presented net of an allowance for expected credit losses. Net investment income includes interest income and the amortization of market premiums and discounts and is presented net of investment expenses. Investment income is recognized when earned. Purchases and sales of fixed maturities are recorded on a trade-date basis and realized gains (losses) on sales of fixed maturities are determined based on the specific identification method. Realized gains (losses) on fixed maturities are included in net investment gains (losses) in the consolidated statements of operations. The Company recognizes investment income from fixed maturities based on the constant effective yield method, which includes an adjustment for estimated principal repayments, if applicable. The effective yield used to determine the amortization of fixed maturities subject to prepayment risk (e.g. asset-backed, mortgage-backed and other structured securities) is recalculated and adjusted periodically based on historical and/or projected future cash flows. Adjustments to the yield for highly rated prepayable fixed maturities are accounted for using the retrospective method. Adjustments to the yield for other prepayable fixed maturities are accounted for using the prospective method. Credit Losses - Fixed Maturities, Available for Sale Fixed maturities, available for sale are impaired if the fair value of the investment is below amortized cost. On a quarterly basis, the Company evaluates all fixed maturities, available for sale securities for impairment losses. Following the adoption of Accounting Standard Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments, " on January 1, 2020, if a fixed maturity, available for sale security is impaired and the Company intends to sell the security or it is more likely than not that the Company will be required to sell the security before its anticipated recovery, the full amount of the impairment loss is charged to net income (loss) and is included in net investment gains (losses). In instances where the Company intends to hold the impaired fixed maturity, available for sale security the Company determines whether the decline in fair value below the amortized cost basis has resulted from a credit loss or other factors. If the Company does not anticipate to fully recover the amortized cost , an allowance for expected credit losses is established. The allowance for expected credit losses is limited to the difference between a security's amortized cost basis and its fair value. The allowance for expected credit losses is charged to net income (loss) and is included in net investment gains (losses). On a quarterly basis, the Company assesses whether unrealized losses on fixed maturities, available for sale represent credit impairments by considering the following factors: a. the extent to which the fair value is less than amortized cost; b. adverse conditions related to the security, industry, or geographical area; c. downgrades in the security's credit rating by a credit rating agency; and d. failure of the issuer to make scheduled principal or interest payments. The length of time a security has been in an unrealized loss position no longer impacts the determination of whether a credit loss exists. If a security is assessed to be credit impaired, it is subject to a discounted cash flow analysis by comparing the present value of expected future cash flows with the amortized cost basis. If the present value of expected cash flows is less than the amortized cost, a credit loss exists and an allowance for expected credit losses is recognized. If the present value of expected future cash flows is equal to or greater than the amortized cost basis, an expected credit loss does not exist. The non-credit impairment amount of the loss (i.e. related to interest rates, market conditions, etc.) is recognized in other comprehensive income. The Company reports accrued interest receivable related to available for sale debt securities separately and has elected not to measure an allowance for expected credit losses for accrued interest receivable. Write-offs of accrued interest receivable balances are recognized in net investment gains (losses) in the period in which they are deemed uncollectible. Prior to the adoption of ASU 2016-13 On a quarterly basis, the Company assessed whether unrealized losses on fixed maturities, available for sale represented impairments that were other-than-temporary. If a fixed maturity, available for sale security was impaired and the Company intended to sell the security or it was more likely than not that the Company would be required to sell the security before its anticipated recovery, the impairment was considered other-than-temporary. In these instances, the full amount of the impairment was charged to net income (loss) and was included in net investment gains (losses) in the consolidated statements of operations. In instances where the Company intended to hold the impaired fixed maturity, available for sale security the Company estimated the anticipated credit loss on the security and this component of the impairment was charged to net income (loss) and was included in net investment gains (losses) in the consolidated statements of operations. The non-credit component of the impairment was recognized in other comprehensive income. Credit Losses - Fixed Maturities, Held to Maturity A fixed maturity, held to maturity security is impaired if the fair value of the investment is below amortized cost. On a quarterly basis, the Company evaluates all fixed maturity, held to maturity securities for impairment losses. The Company's fixed maturity, held to maturity securities portfolio consists of asset-backed securities ("ABS") and corporate debt securities. The Company's ABS, held to maturity consists of CLO debt tranched securities. The Company uses a scenario-based approach to review its CLO debt portfolio and reviews subordination levels of these securities to determine their ability to absorb credit losses of the underlying collateral. If losses are forecast to be below the subordination level for a tranche held by the Company, the security is determined not to have a credit loss. To estimate expected credit losses for corporate debt securities, held to maturity, the Company's projected cash flows are primarily driven by assumptions regarding the severity of loss, which is a function of the probability of default and projected recovery rates. The Company's default and recovery rates are based on credit ratings, credit analysis and macroeconomic forecasts. The allowance for expected credit losses is estimated based on the Company’s analysis of projected lifetime losses. The allowance for expected credit losses is recognized in net investment gains (losses) in the consolidated statements of operations. Any adjustment to the allowance for expected credit losses is recognized in the period in which it is determined. Equity Securities, at Fair Value Equity securities are reported at fair value. The change in the fair values of equity securities, net of tax is recognized in net investment gains (losses) in the consolidated statements of operations. Net investment income includes dividend income and is presented net of investment expenses. Investment income is recognized when earned. Purchases and sales of equity securities are recorded on a trade-date basis and realized gains (losses) on sales of equity securities are determined based on the specific identification method. Realized gains (losses) on equity securities are included in net investment gains (losses) in the consolidated statements of operations. Mortgage Loans, Held for Investment, at Fair Value Mortgage loans, held for investment are reported at amortized cost which is calculated as the unpaid principal balance, adjusted for any unamortized premium or discount, deferred fees or expenses. Interest income and prepayment fees are recognized when earned. Interest income is recognized based on an effective yield method which gives effect to the amortization of premiums and accretion of discounts. Following the adoption of Accounting Standard Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments, " on January 1, 2020, mortgage loans, held for investment are presented net of an allowance for expected credit losses. The allowance for expected credit losses is estimated based on the Company’s analysis of projected lifetime losses. These projections take into account the Company’s experience with credit quality indicators, loan losses, defaults, loss severity, and loss expectations for loans with similar risk characteristics. These evaluations are revised as conditions change and new information becomes available. The allowance for expected credit losses is recognized in net investment gains (losses). Any adjustment to the allowance for expected credit losses is recognized in the period in which it is determined. Other Investments Other investments are recorded at fair value (refer to Note 6 ' Fair Value Measurements '). Changes in fair value and realized gains (losses) are reported in net investment income in the consolidated statements of operations. Equity Method Investments Investments in which the Company has significant influence over the operating and financial policies of the investee are classified as equity method investments and are accounted for using the equity method of accounting. In applying the equity method of accounting, investments are initially recorded at cost and are subsequently adjusted based on the Company’s proportionate share of net income (loss) or loss of the investee. Adjustments are based on the most recently available financial information from the investee. Changes in the carrying value of these investments are recorded in net income as interest in income (loss) of equity method investments. Short-term Investments Short-term investments primarily comprise highly liquid debt securities with maturities greater than three months but less than one year from the date of purchase. These investments are carried at amortized cost, which approximates fair value.
Cash and Cash Equivalents	Cash equivalents include money-market funds, fixed interest deposits and reverse repurchase agreements with a maturity of under 90 days when purchased. Cash and cash equivalents are recorded at amortized cost, which approximates fair value due to the short-term, liquid nature of these securities. Restricted cash primarily relates to funds held in trust to support obligations in regulatory jurisdictions where the Company operates as a non-admitted carrier and to support the underwriting activities at Lloyd's.
Premiums - Gross Premiums Written	Insurance premiums written are recorded in accordance with the terms of the underlying policies. Reinsurance premiums are recorded at the inception of the contract based on estimates received from ceding companies. For multi-year contracts insurance and reinsurance premiums are recorded at the inception of the contract based on management’s best estimate of total premiums to be received. Premiums are recognized on an annual basis for multi-year contracts where the cedant has the ability to unilaterally commute or cancel coverage within the term of the contract. Any adjustments to insurance and reinsurance premium estimates are recognized in the period in which they are determined.
Premiums - Net Premiums Earned	Insurance and reinsurance premiums are earned evenly over the period during which the Company is exposed to the underlying risk, which is generally one to two years with the exception of multi-year contracts. Unearned premiums represent the portion of premiums which relate to the unexpired risks under contracts in force. Reinstatement premiums are recognized and earned at the time a loss event occurs and losses are recorded, where the coverage limits for the remaining life of the contract are reinstated under pre-defined contract terms. The recognition of reinstatement premiums is based on estimates of losses and loss expenses, which reflects management’s judgment, as described in Note 2(d) ' Losses and Loss Expenses ' below.
Premiums - Receivables	Following the adoption of Accounting Standard Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments, " on January 1, 2020, insurance and reinsurance premium balances receivable are reviewed for impairment at least quarterly and are presented net of an allowance for expected credit losses. The allowance for expected credit losses is estimated based on the Company's analysis of amounts due, historical delinquencies and write-offs, and current economic conditions, together with reasonable and supportable forecasts of short-term economic conditions. The allowance for expected credit losses is recognized in net income (loss). Any adjustment to the allowance for expected credit losses is recognized in the period in which it is determined. Write-offs of premium balances receivable, together with associated allowances for expected credit losses, are recognized in the period in which balances are deemed uncollectible. The Company does not have a history of significant write-offs. Prior to the adoption of ASU 2016-13
Acquisition Costs	Acquisition costs vary with and are directly related to the successful acquisition efforts of acquiring new or renewing existing insurance and reinsurance contracts and consist primarily of fees and commissions paid to brokers and premium taxes. In addition, certain of our contracts include profit commission provisions or other adjustable features that are estimated based on expected losses and loss expenses for those contracts. Acquisition costs are shown net of commissions on reinsurance purchased. Net acquisition costs are deferred and charged to net income (loss) as the related premium is earned. Insurance and reinsurance premium balances receivable is presented net of acquisition costs when contract terms provide for the right of offset. Anticipated losses and loss expenses, other costs and investment income related to these premiums are considered in assessing the recoverability of deferred acquisition costs. Deferred acquisition cost amounts that are assessed to be irrecoverable are recognized in net income (loss) in the period in which the determination is made. Compensation expenses for personnel involved in contract acquisition, and advertising costs, are charged to net income (loss) when incurred.
Losses and Loss Expenses	Reserve for losses and loss expenses represents an estimate of the unpaid portion of the ultimate liability for losses and loss expenses for insured and reinsured events that have occurred at or before the balance sheet date. These amounts reflect claims that have been reported ("case reserves") and claims that have been incurred but have not yet been reported ("IBNR") and are reduced for estimated amounts of salvage and subrogation recoveries. The Company reviews its reserve for losses and loss expenses on a quarterly basis. Case reserves are primarily established based on amounts reported by clients and/or their brokers. Management estimates IBNR after reviewing detailed actuarial analyses and applying informed judgment regarding qualitative factors that may not be fully captured in the actuarial estimates. A variety of actuarial methods are utilized in this process, including the Expected Loss Ratio, Chain Ladder and Bornhuetter-Ferguson methods. The estimate is highly dependent on management’s judgment as to which method(s) are most appropriate for a particular accident/underwriting year and line of business. Historical claims data may be supplemented with industry benchmarks when applying these methodologies.
Reinsurance	In the normal course of business, the Company purchases treaty and facultative reinsurance protection to limit its ultimate losses from catastrophic events and to reduce its loss aggregation risk. The premiums paid to reinsurers (i.e. ceded premiums written) are recognized over the coverage period. Prepaid reinsurance premiums represent the portion of premiums ceded which relate to the unexpired term of the contracts in force. Reinstatement premiums are recognized and earned at the time a loss event occurs and losses are recorded, where the coverage limits for the remaining life of the contract are reinstated under pre-defined contract terms. Reinsurance recoverable on unpaid losses and loss expenses ("reinsurance recoverables") related to case reserves is estimated on a case-by-case basis by applying the terms of applicable reinsurance cover to individual case reserve estimates. Reinsurance recoverables related to IBNR is generally developed as part of the Company's loss reserving process, therefore, its estimation is subject to similar risks and uncertainties as the estimation of IBNR. Estimates of amounts to be ceded under excess of loss reinsurance contracts also take into account pricing information for those contracts and require greater judgment than estimates for proportional contracts. Following the adoption of Accounting Standard Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments, " on January 1, 2020, reinsurance recoverable balances are reviewed for impairment at least quarterly and are presented net of an allowance for expected credit losses. A case-specific allowance for expected credit losses against reinsurance recoverables that we deem are unlikely to be collected in full, is estimated based on the Company's analysis of amounts due, historical delinquencies and write-offs. In addition, a default analysis is used to estimate an allowance for expected credit losses on the remainder of the reinsurance recoverable balance. The principal components of the default analysis are reinsurance recoverable balances by reinsurer and default factors applied to estimate uncollectible amounts based on reinsurers’ credit ratings and the length of collection periods. The default factors are based on a model developed by a major rating agency. The default analysis considers current and forecasted economic conditions. The allowance for expected credit losses is recognized in net income (loss). Any adjustment to the allowance for expected credit losses is recognized in the period in which it is determined. Write-offs of reinsurance recoverable balances, together with associated allowances for expected credit losses, are recognized in the period in which balances are deemed uncollectible. The Company does not have a history of significant write-offs. Prior to the adoption of ASU 2016-13 Reinsurance recoverable balances were reviewed in detail on a quarterly basis and a provision was established for amounts considered uncollectible. Retroactive Reinsurance Retroactive reinsurance reimburses a ceding company for liabilities incurred as a result of past insurable events covered under contracts subject to the reinsurance. In certain instances, reinsurance contracts cover losses both on a prospective basis and on a retroactive basis and where practical the Company bifurcates the prospective and retroactive elements of these reinsurance contracts and accounts for each element separately. Initial gains in connection with retroactive reinsurance contracts are deferred and amortized into income over the settlement period while losses are recognized immediately. When changes in the estimated amount recoverable from the reinsurer or in the timing of receipts related to that amount occur, a cumulative amortization adjustment is recognized in net income in the period in which the change is determined so that the deferred gain reflects the balance that would have existed had the revised estimate been available at the inception of the reinsurance transaction.
Foreign Exchange	The functional currency of the Company and the majority of its subsidiaries is the U.S. dollar. All foreign currency transactions are initially measured and recorded in functional currency using the rates of exchange prevailing at the transaction date. Monetary assets and liabilities denominated in foreign currency are remeasured to functional currency at the rates of exchange in effect at the balance sheet date with the resulting foreign exchange losses (gains) generally being recognized in the consolidated statements of operations. Foreign exchange losses (gains) related to available for sale investments denominated in foreign currency represent an unrealized appreciation (depreciation) in the market value of the securities and are included in AOCI. Non-monetary assets and liabilities denominated in foreign currency are not subsequently remeasured. The Company’s reporting currency is the U.S. dollar. Assets and liabilities of the Company's subsidiaries and branches where the functional currency is not the U.S. dollar, are translated into U.S. dollars using the rates of exchange in effect at the balance sheet date, and revenue and expenses are translated using the weighted average foreign exchange rates for the period. The effect of translation adjustments is reported as a separate component of AOCI in the consolidated statements of change shareholders’ equity.
Share-based Compensation	The Company is authorized to issue restricted shares, restricted stock units, performance restricted stock units, stock options, stock appreciation rights and other equity-based awards to its employees and directors. The Company's plan includes share-settled and cash-settled service and performance awards. Restricted Stock Units - Share-Settled and Cash-Settled The fair value of share-settled and cash-settled service awards is based on market value of the Company's common shares measured at the grant date and is expensed over the requisite service period. The fair value of the cash-settled service awards is recognized as a liability in the consolidated balance sheets and is remeasured at the end of each reporting period. The Company recognizes forfeitures when they occur. Performance Restricted Stock Units - Share-Settled and Cash-Settled The fair value of share-settled performance awards which include a market condition is measured on the grant date using a Monte Carlo simulation model which requires inputs including share price, expected volatility, expected term, expected dividend yield and risk-free interest rates. The fair value of share-settled and cash-settled performance awards which include a performance condition is based on market value of the Company's common shares measured at the grant date. The fair value of share-settled and cash-settled performance awards is recognized on a straight-line basis over the requisite service period. The fair value of the cash-settled performance awards is recognized as a liability in the consolidated balance sheets and is remeasured at the end of each reporting period. The Company recognizes forfeitures when they occur.
Derivative Instruments	The Company may enter into derivative instruments such as futures, options, interest rate swaps and foreign currency forward contracts as part of its overall foreign currency risk management strategy, to obtain exposure to a particular financial market or for yield enhancement. From time to time the Company may also enter into insurance and reinsurance contracts that meet the Financial Accounting Standards Board's ("FASB") definition of a derivative contract. The Company measures all derivative instruments at fair value (refer to Note 6 ' Fair Value Measurements ') and recognizes these instruments as either assets or liabilities in the consolidated balance sheets. Subsequent changes in fair value and any realized gains or losses are recognized in the consolidated statements of operations.
Goodwill and Intangible Assets	The Company recognizes goodwill and other intangible assets in connection with certain acquisitions. Goodwill represents the excess of the purchase price paid over the fair value of the net assets acquired in these acquisitions and is not amortized. Other intangible assets with a finite life are amortized over the estimated useful live of the intangible asset. Other intangible assets with an indefinite life are not amortized. The Company tests goodwill and indefinite intangible assets for potential impairment during the fourth quarter each year and between annual tests if an event occurs or changes in circumstances indicate that the asset is impaired. Such events or circumstances may include an economic downturn in a geographic market or a change in the assessment of future operations. For the purpose of evaluating goodwill for impairment, the Company may first perform a qualitative assessment to determine whether it is necessary to perform a quantitative goodwill impairment test. If determined to be necessary, the quantitative test compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired. If the carrying amount of the reporting unit exceeds the fair value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. For the purpose of evaluating indefinite lived intangibles for impairment, the Company may first perform a qualitative assessment to determine whether it is necessary to perform the quantitative impairment test. If the Company elects to perform a qualitative assessment, it first assesses qualitative factors to determine whether it is more likely than not that an indefinite lived intangible asset is impaired. If the Company determines that it is more likely than not that the indefinite lived intangible asset is impaired, the Company performs the quantitative impairment test. For the purposes of evaluating goodwill and indefinite lived intangible assets for impairment, the Company has an unconditional option to bypass the qualitative assessment in any period and proceed directly to performing the quantitative impairment test. The Company may resume performing the qualitative assessment in any subsequent period. For other definite lived intangible assets the Company tests for recoverability whenever events or changes in circumstances indicate its carrying amount may not be recoverable. The Company recognizes an impairment loss if the carrying amount of the asset is not recoverable and exceeds its fair value. The carrying amount of a definite lived intangible asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If goodwill or an intangible asset is impaired, the carrying value of the asset is reduced to fair value and a corresponding expense is recorded in the consolidated statements of operations.
Income Taxes	Certain subsidiaries and branches of the Company operate in jurisdictions where they are subject to taxation. Current and deferred income taxes are charged or credited to net income, or in certain cases to AOCI, based on enacted tax laws and rates applicable in the relevant jurisdiction in the period in which the tax becomes accruable or realizable. Deferred income taxes are provided for all temporary differences between the bases of assets and liabilities used in the consolidated balance sheets and those used in the various jurisdictional tax returns. When the assessment indicates that it is more likely than not that a portion of a deferred tax asset will not be realized in the foreseeable future, a valuation allowance against deferred tax assets is recorded. The Company recognizes the tax benefits of uncertain tax positions only when the position is more-likely-than-not to be sustained on audit by the relevant taxing authorities.
Treasury Shares	Common shares repurchased by the Company and not subsequently canceled are classified as treasury shares and are recorded at cost. This results in a reduction of shareholders’ equity in the consolidated balance sheets. The Company uses the average cost method to determine the cost of shares reissued from treasury.
Leases	The Company recognizes a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term related to office property and equipment leases. The Company accounts for non-lease components separately from lease components. As a result, the non-lease components associated with the Company's leases are not included in the lease liabilities and right-of-use assets in the Company's consolidated balance sheets.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
UNDERWRITING RESULTS OF REPORTABLE SEGMENTS	The following tables present the underwriting results of the Company's reportable segments, as well as the carrying amounts of allocated goodwill and intangible assets: At and year ended December 31, 2021 Insurance Reinsurance Total Gross premiums written $ 4,863,232 $ 2,822,752 $ 7,685,984 Net premiums written 2,894,885 2,031,739 4,926,624 Net premiums earned 2,651,339 2,058,511 4,709,850 Other insurance related income 1,662 21,633 23,295 Net losses and loss expenses (1,514,998) (1,493,785) (3,008,783) Acquisition costs (484,344) (437,490) (921,834) Underwriting-related general and administrative expenses (429,282) (107,552) (536,834) Underwriting income $ 224,377 $ 41,317 265,694 Net investment income 454,301 Net investment gains 134,279 Corporate expenses (126,470) Foreign exchange losses (315) Interest expense and financing costs (62,302) Reorganization expenses — Amortization of value of business acquired (3,854) Amortization of intangible assets (12,424) Income before income taxes and interest in income of equity method investments 648,909 Income tax expense (62,384) Interest in income of equity method investments 32,084 Net income 618,609 Preferred share dividends 30,250 Net income available to common shareholders $ 588,359 Net losses and loss expenses ratio 57.1 % 72.6 % 63.9 % Acquisition cost ratio 18.3 % 21.3 % 19.6 % General and administrative expense ratio 16.2 % 5.1 % 14.0 % Combined ratio 91.6 % 99.0 % 97.5 % Goodwill and intangible assets $ 309,518 $ — $ 309,518 At and year ended December 31, 2020 Insurance Reinsurance Total Gross premiums written $ 4,018,399 $ 2,808,539 $ 6,826,938 Net premiums written 2,357,501 1,978,908 4,336,409 Net premiums earned 2,299,038 2,072,271 4,371,309 Other insurance related income (loss) 2,647 (10,736) (8,089) Net losses and loss expenses (1,697,014) (1,584,238) (3,281,252) Acquisition costs (461,533) (467,984) (929,517) Underwriting-related general and administrative expenses (378,839) (99,129) (477,968) Underwriting income (loss) $ (235,701) $ (89,816) (325,517) Net investment income 349,601 Net investment gains 129,133 Corporate expenses (101,822) Foreign exchange losses (81,069) Interest expense and financing costs (75,049) Reorganization expenses (7,881) Amortization of value of business acquired (5,139) Amortization of intangible assets (11,390) Income (loss) before income taxes and interest in income (loss) of equity method investments (129,133) Income tax benefit 12,321 Interest in income (loss) of equity method investments (3,612) Net income (loss) (120,424) Preferred share dividends 30,250 Net income (loss) available (attributable) to common shareholders $ (150,674) Net losses and loss expenses ratio 73.8 % 76.4 % 75.1 % Acquisition cost ratio 20.1 % 22.6 % 21.3 % General and administrative expense ratio 16.5 % 4.8 % 13.2 % Combined ratio 110.4 % 103.8 % 109.6 % Goodwill and intangible assets $ 320,434 $ — $ 320,434 At and year ended December 31, 2019 Insurance Reinsurance Total Gross premiums written $ 3,675,931 $ 3,222,927 $ 6,898,858 Net premiums written 2,209,155 2,280,460 4,489,615 Net premiums earned 2,190,084 2,397,094 4,587,178 Other insurance related income 2,858 13,586 16,444 Net losses and loss expenses (1,278,679) (1,766,119) (3,044,798) Acquisition costs (468,281) (556,301) (1,024,582) Underwriting-related general and administrative expenses (401,963) (103,772) (505,735) Underwriting income (loss) $ 44,019 $ (15,512) 28,507 Net investment income 478,572 Net investment gains 91,233 Corporate expenses (129,096) Foreign exchange gains 12,041 Interest expense and financing costs (68,107) Reorganization expenses (37,384) Amortization of value of business acquired (26,722) Amortization of intangible assets (11,597) Income before income taxes and interest in income of equity method investments 337,447 Income tax expense (23,692) Interest in income of equity method investments 9,718 Net income 323,473 Preferred share dividends 41,112 Net income available to common shareholders $ 282,361 Net losses and loss expenses ratio 58.4 % 73.7 % 66.4 % Acquisition cost ratio 21.4 % 23.2 % 22.3 % General and administrative expense ratio 18.3 % 4.3 % 13.9 % Combined ratio 98.1 % 101.2 % 102.6 % Goodwill and intangible assets $ 332,553 $ — $ 332,553
GROSS PREMIUMS WRITTEN BY GEOGRAPHICAL LOCATION OF SUBSIDIARIES	The following table presents gross premiums written by the geographical location of the Company's subsidiaries: Years ended December 31, 2021 2020 2019 Bermuda $ 542,693 $ 602,432 $ 738,258 Ireland 1,667,496 1,516,596 1,679,646 U.S. 4,002,748 3,398,108 3,090,547 Lloyd's of London 1,473,047 1,309,802 1,390,407 Gross premiums written $ 7,685,984 $ 6,826,938 $ 6,898,858
NET PREMIUMS EARNED BY SEGMENT AND LINE OF BUSINESS	The following table presents net premiums earned by segment and line of business: Years ended December 31, 2021 2020 2019 Insurance Property $ 662,977 $ 605,650 $ 633,550 Marine 354,193 293,746 281,764 Terrorism 47,995 47,378 47,345 Aviation 84,882 70,910 55,028 Credit and political risk 96,604 105,869 91,698 Professional lines 898,307 715,276 661,250 Liability 354,518 313,291 264,667 Accident and health 151,134 143,723 144,499 Discontinued lines - Novae 729 3,195 10,283 Total Insurance 2,651,339 2,299,038 2,190,084 Reinsurance Catastrophe 238,775 244,934 267,591 Property 231,080 256,244 311,625 Credit and surety 158,549 187,721 208,717 Professional lines 220,448 207,605 206,328 Motor 247,092 255,916 398,565 Liability 431,012 396,906 373,664 Engineering 28,238 60,521 63,899 Agriculture 82,744 73,696 188,925 Marine and aviation 58,678 53,516 59,209 Accident and health 361,197 333,996 319,619 Discontinued lines - Novae 698 1,216 (1,048) Total Reinsurance 2,058,511 2,072,271 2,397,094 Total $ 4,709,850 $ 4,371,309 $ 4,587,178

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF GOODWILL AND INTANGIBLE ASSETS	The table below provides details of goodwill and intangible assets related to the Company's insurance segment: Goodwill Intangible Intangible Total At December 31, 2019 Gross amount $ 97,092 $ 120,784 $ 404,304 $ 622,180 Accumulated amortization n/a n/a (247,804) (247,804) Accumulated translation adjustment 4,911 — — 4,911 102,003 120,784 156,500 379,287 Amortization n/a n/a (37,742) (37,742) Impairment charges — — — — At December 31, 2020 Gross amount 97,092 120,784 394,604 612,480 Accumulated amortization n/a n/a (275,846) (275,846) Accumulated translation adjustment 4,911 — — 4,911 102,003 120,784 118,758 341,545 Amortization n/a n/a (16,055) (16,055) Impairment charges (1,202) — — (1,202) At December 31, 2021 Gross amount 95,890 120,784 394,604 611,278 Accumulated amortization n/a n/a (291,901) (291,901) Accumulated translation adjustment 4,911 — — 4,911 100,801 120,784 102,703 324,288 Amortization n/a n/a (14,770) (14,770) Impairment charges — — — — $ 100,801 $ 120,784 $ 87,933 $ 309,518 n/a – not applicable
SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS	The tables below provide details of the gross amount and accumulated amortization by category of VOBA and intangible assets: VOBA and intangible assets At December 31, 2021 Gross amount Accumulated amortization Total U.S. state licenses $ 26,036 n/a $ 26,036 Syndicate capacity (2) 94,748 n/a 94,748 Customer relationships and customers lists - Ternian (1) 13,330 (8,997) 4,333 VOBA - Novae (2) 256,942 (256,942) — Coverholders (2) 63,565 (22,514) 41,051 Large brokers (2) 46,641 (13,215) 33,426 SME brokers (2) 14,126 (5,003) 9,123 $ 515,388 $ (306,671) $ 208,717 n/a – not applicable (1) On April 1, 2015, the Company completed its acquisition of Ternian Insurance Group LLC and recognized the definite life intangible assets detailed above. (2) On October 2, 2017, the Company acquired Novae and recognized finite lived intangible assets, including Value of Business Acquired ("VOBA"), distribution networks, and indefinite lived intangible assets related to Lloyd's syndicate capacity, all detailed above. VOBA and intangible assets At December 31, 2020 Gross amount Accumulated amortization Total U.S. state licenses $ 26,036 n/a $ 26,036 Customer relationships and customers lists - Ternian (1) 13,330 (7,665) 5,665 VOBA - Novae (2) 256,942 (253,088) 3,854 Syndicate capacity (2) 94,748 n/a 94,748 Coverholders (2) 63,565 (17,216) 46,349 Large brokers (2) 46,641 (10,106) 36,535 SME brokers (2) 14,126 (3,826) 10,300 $ 515,388 $ (291,901) $ 223,487 n/a – not applicable (1) On April 1, 2015, the Company completed its acquisition of Ternian Insurance Group LLC and recognized the definite life intangible assets detailed above. (2) On October 2, 2017, the Company acquired Novae and recognized finite lived intangible assets, including Value of Business Acquired ("VOBA"), distribution networks, and indefinite lived intangible assets related to Lloyd's syndicate capacity, all detailed above.
SCHEDULE OF INDEFINITE-LIVED INTANGIBLE ASSETS	The tables below provide details of the gross amount and accumulated amortization by category of VOBA and intangible assets: VOBA and intangible assets At December 31, 2021 Gross amount Accumulated amortization Total U.S. state licenses $ 26,036 n/a $ 26,036 Syndicate capacity (2) 94,748 n/a 94,748 Customer relationships and customers lists - Ternian (1) 13,330 (8,997) 4,333 VOBA - Novae (2) 256,942 (256,942) — Coverholders (2) 63,565 (22,514) 41,051 Large brokers (2) 46,641 (13,215) 33,426 SME brokers (2) 14,126 (5,003) 9,123 $ 515,388 $ (306,671) $ 208,717 n/a – not applicable (1) On April 1, 2015, the Company completed its acquisition of Ternian Insurance Group LLC and recognized the definite life intangible assets detailed above. (2) On October 2, 2017, the Company acquired Novae and recognized finite lived intangible assets, including Value of Business Acquired ("VOBA"), distribution networks, and indefinite lived intangible assets related to Lloyd's syndicate capacity, all detailed above. VOBA and intangible assets At December 31, 2020 Gross amount Accumulated amortization Total U.S. state licenses $ 26,036 n/a $ 26,036 Customer relationships and customers lists - Ternian (1) 13,330 (7,665) 5,665 VOBA - Novae (2) 256,942 (253,088) 3,854 Syndicate capacity (2) 94,748 n/a 94,748 Coverholders (2) 63,565 (17,216) 46,349 Large brokers (2) 46,641 (10,106) 36,535 SME brokers (2) 14,126 (3,826) 10,300 $ 515,388 $ (291,901) $ 223,487 n/a – not applicable (1) On April 1, 2015, the Company completed its acquisition of Ternian Insurance Group LLC and recognized the definite life intangible assets detailed above. (2) On October 2, 2017, the Company acquired Novae and recognized finite lived intangible assets, including Value of Business Acquired ("VOBA"), distribution networks, and indefinite lived intangible assets related to Lloyd's syndicate capacity, all detailed above.
FUTURE AMORTIZATION EXPENSE	The table below provides details of estimated amortization expense of intangible assets with a finite life: Total 2022 $ 10,916 2023 10,916 2024 10,916 2025 9,921 2026 9,583 After 2026 35,681 Total remaining amortization expense 87,933 Indefinite lived intangible assets 120,784 Total intangible assets $ 208,717

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
AMORTIZED COST AND FAIR VALUES OF FIXED MATURITIES	The following table provides the amortized cost and fair values of the Company's fixed maturities classified as available for sale: Amortized Allowance for expected credit losses Gross Gross Fair At December 31, 2021 Available for sale U.S. government and agency $ 2,693,319 $ — $ 9,776 $ (20,647) $ 2,682,448 Non-U.S. government 794,705 — 10,158 (9,685) 795,178 Corporate debt 4,446,585 (236) 87,075 (38,112) 4,495,312 Agency RMBS (1) 1,065,973 — 17,397 (8,781) 1,074,589 CMBS (2) 1,223,051 — 29,827 (4,687) 1,248,191 Non-agency RMBS 185,854 (77) 2,410 (2,023) 186,164 ABS (3) 1,628,739 — 3,406 (9,665) 1,622,480 Municipals (4) 203,556 — 5,928 (646) 208,838 Total fixed maturities, available for sale $ 12,241,782 $ (313) $ 165,977 $ (94,246) $ 12,313,200 At December 31, 2020 Available for sale U.S. government and agency $ 1,881,489 $ — $ 38,969 $ (1,759) $ 1,918,699 Non-U.S. government 632,875 — 38,826 (428) 671,273 Corporate debt 4,408,351 (303) 254,261 (6,358) 4,655,951 Agency RMBS (1) 1,244,727 — 42,170 (688) 1,286,209 CMBS (2) 1,268,273 — 87,598 (2,284) 1,353,587 Non-agency RMBS 136,198 (20) 4,604 (678) 140,104 ABS (3) 1,712,236 — 14,527 (6,685) 1,720,078 Municipals (4) 282,781 — 13,148 (31) 295,898 Total fixed maturities, available for sale $ 11,566,930 $ (323) $ 494,103 $ (18,911) $ 12,041,799 (1) Residential mortgage-backed securities ("RMBS") originated by U.S. government-sponsored agencies. (2) Commercial mortgage-backed securities ("CMBS"). (3) Asset-backed securities ("ABS") include debt tranched securities collateralized primarily by auto loans, student loans, credit card receivables and collateralized loan obligations ("CLOs"). (4) Municipals include bonds issued by states, municipalities and political subdivisions.
DEBT SECURITIES, HELD-TO-MATURITY	The following table provides the amortized cost and fair values of the Company's fixed maturities classified as held to maturity: Amortized cost Allowance for expected credit losses Net carrying value Gross Gross unrealized losses Fair value At December 31, 2021 Held to maturity Corporate debt $ 37,700 $ — $ 37,700 $ 18 $ (146) $ 37,572 ABS (1) 408,316 — 408,316 81 (936) 407,461 Total fixed maturities, held to maturity $ 446,016 $ — $ 446,016 $ 99 $ (1,082) $ 445,033 (1) Asset-backed securities ("ABS") include debt tranched securities collateralized primarily by collateralized loan obligations ("CLOs").
COST AND FAIR VALUE OF EQUITY SECURITIES	The following table provides the cost and fair values of the Company's equity securities: Cost Gross Gross Fair At December 31, 2021 Equity securities Common stocks $ 1,264 $ 585 $ (485) $ 1,364 Preferred stocks 115 64 — 179 Exchange-traded funds 203,455 134,037 (677) 336,815 Bond mutual funds 324,030 544 (7,257) 317,317 Total equity securities $ 528,864 $ 135,230 $ (8,419) $ 655,675 At December 31, 2020 Equity securities Common stocks $ 10,810 $ 689 $ (557) $ 10,942 Preferred stocks 6,301 1,767 — 8,068 Exchange-traded funds 147,794 74,314 (390) 221,718 Bond mutual funds 256,839 20,878 — 277,717 Total equity securities $ 421,744 $ 97,648 $ (947) $ 518,445
CONTRACTUAL MATURITIES OF FIXED MATURITIES	The table below provides the contractual maturities of fixed maturities classified as available for sale: Amortized Fair % of Total At December 31, 2021 Maturity Due in one year or less $ 503,716 $ 505,602 4.1 % Due after one year through five years 4,878,151 4,908,640 39.9 % Due after five years through ten years 2,478,542 2,488,478 20.2 % Due after ten years 277,756 279,056 2.3 % 8,138,165 8,181,776 66.5 % Agency RMBS 1,065,973 1,074,589 8.7 % CMBS 1,223,051 1,248,191 10.1 % Non-agency RMBS 185,854 186,164 1.5 % ABS 1,628,739 1,622,480 13.2 % Total $ 12,241,782 $ 12,313,200 100.0 % At December 31, 2020 Maturity Due in one year or less $ 436,287 $ 444,527 3.6 % Due after one year through five years 4,165,696 4,335,219 36.0 % Due after five years through ten years 2,344,859 2,489,050 20.7 % Due after ten years 258,654 273,025 2.3 % 7,205,496 7,541,821 62.6 % Agency RMBS 1,244,727 1,286,209 10.7 % CMBS 1,268,273 1,353,587 11.2 % Non-agency RMBS 136,198 140,104 1.2 % ABS 1,712,236 1,720,078 14.3 % Total $ 11,566,930 $ 12,041,799 100.0 %
FIXED MATURITIES AND EQUITIES IN AN UNREALIZED LOSS POSITION	The following table summarizes fixed maturities, available for sale in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position: 12 months or greater Less than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized At December 31, 2021 Fixed maturities, available for sale U.S. government and agency $ 101,776 $ (4,852) $ 2,014,880 $ (15,795) $ 2,116,656 $ (20,647) Non-U.S. government 11,011 (1,830) 463,498 (7,855) 474,509 (9,685) Corporate debt 152,962 (6,542) 1,681,859 (31,570) 1,834,821 (38,112) Agency RMBS 41,024 (1,678) 503,988 (7,103) 545,012 (8,781) CMBS 30,128 (1,001) 347,515 (3,686) 377,643 (4,687) Non-agency RMBS 4,481 (523) 109,937 (1,500) 114,418 (2,023) ABS 43,466 (1,152) 1,040,363 (8,513) 1,083,829 (9,665) Municipals 5,293 (137) 35,649 (509) 40,942 (646) Total fixed maturities, available for sale $ 390,141 $ (17,715) $ 6,197,689 $ (76,531) $ 6,587,830 $ (94,246) At December 31, 2020 Fixed maturities, available for sale U.S. government and agency $ — $ — $ 251,606 $ (1,759) $ 251,606 $ (1,759) Non-U.S. government 16,115 (262) 3,652 (166) 19,767 (428) Corporate debt 63,640 (2,244) 233,970 (4,114) 297,610 (6,358) Agency RMBS 6,580 (20) 78,672 (668) 85,252 (688) CMBS 19,736 (1,012) 70,656 (1,272) 90,392 (2,284) Non-agency RMBS 5,109 (598) 9,558 (80) 14,667 (678) ABS 325,436 (4,011) 360,402 (2,674) 685,838 (6,685) Municipals — — 11,881 (31) 11,881 (31) Total fixed maturities, available for sale $ 436,616 $ (8,147) $ 1,020,397 $ (10,764) $ 1,457,013 $ (18,911)
MORTGAGE LOANS NET OF VALUATION ALLOWANCE	The following table provides details of the Company's mortgage loans held for investment: December 31, 2021 December 31, 2020 Carrying value % of Total Carrying value % of Total Mortgage loans held for investment: Commercial $ 594,088 100 % $ 593,290 100 % Total mortgage loans held for investment $ 594,088 100 % $ 593,290 100 %
PORTFOLIO OF OTHER INVESTMENTS	The following table provides a summary of the Company's other investments, together with additional information relating to the liquidity of each category: Fair value Redemption frequency Redemption At December 31, 2021 Long/short equity funds $ 3,476 — % Annually 60 days Multi-strategy funds 56,012 6 % Quarterly 60-90 days Direct lending funds 289,867 31 % Quarterly (1) 90 days Private equity funds 249,974 26 % n/a n/a Real estate funds 238,222 25 % Quarterly (2) 45 days CLO-Equities 5,910 1 % n/a n/a Other privately held investments 104,521 11 % n/a n/a Overseas deposits — — % n/a n/a Total other investments $ 947,982 100 % At December 31, 2020 Long/short equity funds $ 25,300 3 % Annually 60 days Multi-strategy funds 121,420 15 % Quarterly, Semi-annually 60-95 days Direct lending funds 272,131 33 % Quarterly (1) 90 days Private equity funds 124,706 15 % n/a n/a Real estate funds 164,250 20 % Quarterly (2) 45 days CLO-Equities 6,173 1 % n/a n/a Other privately held investments 70,011 8 % n/a n/a Overseas deposits 45,165 5 % n/a n/a Total other investments $ 829,156 100 % n/a – not applicable (1) Applies to one fund with a fair value of $47 million (2020: $38 million). (2) Applies to one fund with a fair value of $73 million (2020: $61 million).
NET INVESTMENT INCOME	Net investment income was derived from the following sources: Year ended December 31, 2021 2020 2019 Fixed maturities $ 262,049 $ 317,121 $ 384,053 Other investments 181,906 16,059 60,038 Equity securities 12,752 9,328 10,434 Mortgage loans 17,427 15,432 14,712 Cash and cash equivalents 4,454 13,582 26,882 Short-term investments 664 2,749 7,053 Gross investment income 479,252 374,271 503,172 Investment expenses (24,951) (24,670) (24,600) Net investment income $ 454,301 $ 349,601 $ 478,572
NET REALIZED INVESTMENT GAINS (LOSSES)	The following table provides an analysis of net investment gains (losses): Year ended December 31, 2021 2020 2019 Gross realized investment gains Fixed maturities and short-term investments $ 137,729 $ 186,726 $ 93,160 Equity securities 5,413 25,648 3,449 Gross realized investment gains 143,142 212,374 96,609 Gross realized investment losses Fixed maturities and short-term investments (42,613) (94,607) (56,515) Equity securities (696) (5,840) (323) Gross realized investment losses (43,309) (100,447) (56,838) Change in allowance for expected credit losses 11 (323) — Impairment losses (1) (22) (1,486) — OTTI losses — — (6,984) Change in fair value of investment derivatives (2) 4,346 (2,434) (1,823) Net unrealized gains (losses) on equity securities 30,111 21,449 60,269 Net investment gains $ 134,279 $ 129,133 $ 91,233 (1) Related to instances where the Company intends to sell securities or it is more likely than not that the Company will be required to sell securities before their anticipated recovery. (2) Refer to Note 7 'Derivative Instruments'.
ALLOWANCE FOR CREDIT LOSS	The following table provides a reconciliation of the beginning and ending balances of the allowance for expected credit losses on fixed maturities classified as available for sale: Year ended December 31, 2021 2020 2019 Balance at beginning of period $ 323 $ — $ — Expected credit losses on securities where credit losses were not previously recognized 95 22,570 — Additions (reductions) for expected credit losses on securities where credit losses were previously recognized 50 (11,542) — Impairments of securities which the Company intends to sell or more likely than not will be required to sell — — — Securities sold/redeemed/matured (155) (10,705) — Balance at end of period $ 313 $ 323 $ —
OTTI RECOGNIZED IN EARNINGS BY ASSET CLASS	The following table summarizes the OTTI charge recognized in net income by asset class: Year ended December 31, 2021 2020 2019 Fixed maturities: Non-U.S. government $ — $ — $ 90 Corporate debt — — 6,894 Non-agency CMBS — — — Total OTTI recognized in net income $ — $ — $ 6,984
RESTRICTED INVESTMENTS	The table below provides the fair values of the Company's restr icted investments and cash: At December 31, 2021 2020 Collateral in Trust for inter-company agreements $ 886,903 $ 1,153,157 Collateral for secured letter of credit facility 402,478 434,845 Funds at Lloyd's 936,862 1,155,832 Collateral in Trust for third-party agreements 2,412,882 1,903,274 Securities on deposit or in trust with regulatory authorities 729,072 265,959 Total restricted investments and cash $ 5,368,197 $ 4,913,067

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE ON A RECURRING BASIS	The tables below present the financial instruments measured at fair value on a recurring basis for the periods indicated: Quoted prices in active markets Significant other observable Significant unobservable inputs (Level 3) Fair value based on NAV practical expedient Total fair value At December 31, 2021 Assets Fixed maturities, available for sale U.S. government and agency $ 2,632,541 $ 49,907 $ — $ — $ 2,682,448 Non-U.S. government — 795,178 — — 795,178 Corporate debt — 4,452,418 42,894 — 4,495,312 Agency RMBS — 1,074,589 — — 1,074,589 CMBS — 1,248,191 — — 1,248,191 Non-agency RMBS — 186,164 — — 186,164 ABS — 1,622,480 — — 1,622,480 Municipals — 208,838 — — 208,838 2,632,541 9,637,765 42,894 — 12,313,200 Equity securities Common stocks 1,364 — — — 1,364 Preferred stocks 179 — — — 179 Exchange-traded funds 336,815 — — — 336,815 Bond mutual funds — 317,317 — — 317,317 338,358 317,317 — — 655,675 Other investments Hedge funds (1) — — — 59,488 59,488 Direct lending funds — — — 289,867 289,867 Private equity funds — — — 249,974 249,974 Real estate funds — — — 238,222 238,222 CLO-Equities — — 5,910 — 5,910 Other privately held investments — — 104,521 — 104,521 Overseas deposits — — — — — — — 110,431 837,551 947,982 Short-term investments — 31,063 — — 31,063 Other assets Derivative instruments (refer to Note 7) — 3,116 — — 3,116 Total Assets $ 2,970,899 $ 9,989,261 $ 153,325 $ 837,551 $ 13,951,036 Liabilities Derivative instruments (refer to Note 7) $ — $ 14,987 $ 5,630 $ — $ 20,617 Cash-settled awards (refer to Note 16) — 9,091 — — 9,091 Total Liabilities $ — $ 24,078 $ 5,630 $ — $ 29,708 (1) Includes Long/short equity and Multi-strategy funds. Quoted prices in active markets Significant other observable Significant unobservable inputs (Level 3) Fair value based on NAV practical expedient Total fair value At December 31, 2020 Assets Fixed maturities, available for sale U.S. government and agency $ 1,861,240 $ 57,459 $ — $ — $ 1,918,699 Non-U.S. government — 671,273 — — 671,273 Corporate debt — 4,653,447 2,504 — 4,655,951 Agency RMBS — 1,286,209 — — 1,286,209 CMBS — 1,351,847 1,740 — 1,353,587 Non-agency RMBS — 140,104 — — 140,104 ABS — 1,709,413 10,665 — 1,720,078 Municipals — 295,898 — — 295,898 1,861,240 10,165,650 14,909 — 12,041,799 Equity securities Common stocks 10,942 — — — 10,942 Preferred stocks 8,068 — — — 8,068 Exchange-traded funds 221,718 — — — 221,718 Bond mutual funds — 277,717 — — 277,717 240,728 277,717 — — 518,445 Other investments Hedge funds (1) — — — 146,720 146,720 Direct lending funds — — — 272,131 272,131 Private equity funds — — — 124,706 124,706 Real estate funds — — — 164,250 164,250 CLO-Equities — — 6,173 — 6,173 Other privately held investments — — 70,011 — 70,011 Overseas deposits — 45,165 — — 45,165 — 45,165 76,184 707,807 829,156 Short-term investments — 161,897 — — 161,897 Other assets Derivative instruments (refer to Note 7) — 18,875 — — 18,875 Total Assets $ 2,101,968 $ 10,669,304 $ 91,093 $ 707,807 $ 13,570,172 Liabilities Derivative instruments (refer to Note 7) $ — $ 2,364 $ 9,122 $ — $ 11,486 Cash-settled awards (refer to Note 16) — 13,273 — — 13,273 Total Liabilities $ — $ 15,637 $ 9,122 $ — $ 24,759
LEVEL 3 FAIR VALUE MEASUREMENT INPUTS	The following table quantifies the significant unobservable inputs used in estimating fair values at December 31, 2021 of investments classified as Level 3 in the fair value hierarchy: Fair value Valuation technique Unobservable input Amount /Range Weighted Other investments - CLO-Equities $ 5,910 Discounted cash flow Default rate 4.5% 4.5% Loss severity rate 50.0% 50.0% Collateral spread 3.0% 3.0% Estimated maturity date 6 years 6 years Other investments - Other privately $ 20,867 Discounted cash flow Discount rate 2.5% 2.5% Default rate 0.5% 0.5% Loss absorption yield 1.0% 1.0% Estimated maturity date 2 - 4 years 3 years Derivatives - Other underwriting- $ (5,630) Discounted cash flow Discount rate 1.3% 1.3% Note: Fixed maturities of $43 million that are classified as Level 3 are excluded from the above table as these securities are priced using broker-dealer quotes. In addition, other privately held investments of $84 million that are classified as Level 3 are excluded from the above table as these investments are priced using capital statements received from investee companies.
CHANGES IN LEVEL 3 FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE ON A RECURRING BASIS, ASSETS	The following table presents changes in Level 3 for financial instruments measured at fair value on a recurring basis: Opening Transfers Transfers Included in net income (1) Included in OCI (2) Purchases Sales Settlements/ Closing Change in unrealized gains/(losses) (3) Year ended December 31, 2021 Fixed maturities, available for sale Corporate debt $ 2,504 $ — $ — $ — $ (642) $ 41,800 $ — $ (768) $ 42,894 $ — CMBS 1,740 — — — 13 — — (1,753) — — ABS 10,665 — (10,200) — 35 — — (500) — — 14,909 — (10,200) — (594) 41,800 — (3,021) 42,894 — Other investments CLO-Equities 6,173 — — 2,819 — — — (3,082) 5,910 2,819 Other privately held investments 70,011 — — 42,653 — 21,760 (26,980) (2,923) 104,521 25,273 76,184 — — 45,472 — 21,760 (26,980) (6,005) 110,431 28,092 Total assets $ 91,093 $ — $ (10,200) $ 45,472 $ (594) $ 63,560 $ (26,980) $ (9,026) $ 153,325 $ 28,092 Other liabilities Derivative instruments $ 9,122 $ — $ — $ (2,742) $ — $ — $ — $ (750) $ 5,630 $ (1,769) Total liabilities $ 9,122 $ — $ — $ (2,742) $ — $ — $ — $ (750) $ 5,630 $ (1,769) Year ended December 31, 2020 Fixed maturities, available for sale Corporate debt $ 2,297 $ — $ — $ — $ 207 $ — $ — $ — $ 2,504 $ — CMBS 5,235 — — — (11) — — (3,484) 1,740 — ABS 489 9,091 — — 116 969 — — 10,665 — 8,021 9,091 — — 312 969 — (3,484) 14,909 — Other investments CLO-Equities 14,328 — — (6,017) — — — (2,138) 6,173 (5,319) Other privately held investments 36,934 — — 6,040 — 27,037 — — 70,011 6,040 51,262 — — 23 — 27,037 — (2,138) 76,184 721 Total assets $ 59,283 $ 9,091 $ — $ 23 $ 312 $ 28,006 $ — $ (5,622) $ 91,093 $ 721 Other liabilities Derivative instruments $ 9,672 $ — $ — $ 9,421 $ — $ — $ — $ (9,971) $ 9,122 $ (550) Total liabilities $ 9,672 $ — $ — $ 9,421 $ — $ — $ — $ (9,971) $ 9,122 $ (550) (1) Realized gains (losses) on fixed maturities and realized and unrealized gains (losses) on other assets and other liabilities included in net income are included in net investment gains (losses). Realized and unrealized gains (losses) on other investments included in net income are included in net investment income. (2) Unrealized gains (losses) on fixed maturities are included in other comprehensive income ("OCI").
CHANGES IN LEVEL 3 FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE ON A RECURRING BASIS, LIABILITIES	The following table presents changes in Level 3 for financial instruments measured at fair value on a recurring basis: Opening Transfers Transfers Included in net income (1) Included in OCI (2) Purchases Sales Settlements/ Closing Change in unrealized gains/(losses) (3) Year ended December 31, 2021 Fixed maturities, available for sale Corporate debt $ 2,504 $ — $ — $ — $ (642) $ 41,800 $ — $ (768) $ 42,894 $ — CMBS 1,740 — — — 13 — — (1,753) — — ABS 10,665 — (10,200) — 35 — — (500) — — 14,909 — (10,200) — (594) 41,800 — (3,021) 42,894 — Other investments CLO-Equities 6,173 — — 2,819 — — — (3,082) 5,910 2,819 Other privately held investments 70,011 — — 42,653 — 21,760 (26,980) (2,923) 104,521 25,273 76,184 — — 45,472 — 21,760 (26,980) (6,005) 110,431 28,092 Total assets $ 91,093 $ — $ (10,200) $ 45,472 $ (594) $ 63,560 $ (26,980) $ (9,026) $ 153,325 $ 28,092 Other liabilities Derivative instruments $ 9,122 $ — $ — $ (2,742) $ — $ — $ — $ (750) $ 5,630 $ (1,769) Total liabilities $ 9,122 $ — $ — $ (2,742) $ — $ — $ — $ (750) $ 5,630 $ (1,769) Year ended December 31, 2020 Fixed maturities, available for sale Corporate debt $ 2,297 $ — $ — $ — $ 207 $ — $ — $ — $ 2,504 $ — CMBS 5,235 — — — (11) — — (3,484) 1,740 — ABS 489 9,091 — — 116 969 — — 10,665 — 8,021 9,091 — — 312 969 — (3,484) 14,909 — Other investments CLO-Equities 14,328 — — (6,017) — — — (2,138) 6,173 (5,319) Other privately held investments 36,934 — — 6,040 — 27,037 — — 70,011 6,040 51,262 — — 23 — 27,037 — (2,138) 76,184 721 Total assets $ 59,283 $ 9,091 $ — $ 23 $ 312 $ 28,006 $ — $ (5,622) $ 91,093 $ 721 Other liabilities Derivative instruments $ 9,672 $ — $ — $ 9,421 $ — $ — $ — $ (9,971) $ 9,122 $ (550) Total liabilities $ 9,672 $ — $ — $ 9,421 $ — $ — $ — $ (9,971) $ 9,122 $ (550) (1) Realized gains (losses) on fixed maturities and realized and unrealized gains (losses) on other assets and other liabilities included in net income are included in net investment gains (losses). Realized and unrealized gains (losses) on other investments included in net income are included in net investment income. (2) Unrealized gains (losses) on fixed maturities are included in other comprehensive income ("OCI").

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
LOCATION AND AMOUNTS OF DERIVATIVE FAIR VALUES ON THE CONSOLIDATED BALANCE SHEET	The following table provides the balance sheet classifications of derivatives recorded at fair value: December 31, 2021 December 31, 2020 Derivative Derivative asset fair value (1) Derivative liability fair value (1) Derivative Derivative asset fair value (1) Derivative liability fair value (1) Relating to investment portfolio: Foreign exchange forward contracts $ 184,187 $ 13 $ 1,463 $ 105,781 $ 2 $ 2,364 Relating to underwriting portfolio: Foreign exchange forward contracts 1,258,836 3,103 13,524 1,197,012 18,873 — Other underwriting-related contracts 50,000 — 5,630 75,000 — 9,122 Total derivatives $ 3,116 $ 20,617 $ 18,875 $ 11,486 (1) Derivative assets and derivative liabilities are classified within other assets and other liabilities in the consolidated balance sheets.
RECONCILIATION OF GROSS DERIVATIVE ASSETS TO NET AMOUNTS PRESENTED IN BALANCE SHEETS	The following table provides a reconciliation of gross derivative assets and liabilities to the net amounts presented in the consolidated balance sheets, with the difference being attributable to the impact of master netting agreements: December 31, 2021 December 31, 2020 Gross amounts Gross amounts offset Net amounts (1) Gross amounts Gross amounts offset Net amounts (1) Derivative assets $ 9,047 $ (5,931) $ 3,116 $ 27,765 $ (8,890) $ 18,875 Derivative liabilities $ 26,548 $ (5,931) $ 20,617 $ 20,376 $ (8,890) $ 11,486 (1) Net asset and liability derivatives are classified within other assets and other liabilities in the consolidated balance sheets.
RECONCILIATION OF GROSS DERIVATIVE LIABILITIES TO NET AMOUNTS PRESENTED IN BALANCE SHEETS	The following table provides a reconciliation of gross derivative assets and liabilities to the net amounts presented in the consolidated balance sheets, with the difference being attributable to the impact of master netting agreements: December 31, 2021 December 31, 2020 Gross amounts Gross amounts offset Net amounts (1) Gross amounts Gross amounts offset Net amounts (1) Derivative assets $ 9,047 $ (5,931) $ 3,116 $ 27,765 $ (8,890) $ 18,875 Derivative liabilities $ 26,548 $ (5,931) $ 20,617 $ 20,376 $ (8,890) $ 11,486 (1) Net asset and liability derivatives are classified within other assets and other liabilities in the consolidated balance sheets.
TOTAL UNREALIZED AND REALIZED GAINS (LOSSES) ON DERIVATIVES NOT DESIGNATED AS HEDGES RECORDED IN EARNINGS	The following table provides the total unrealized and realized gains (losses) recognized in net income for derivatives not designated as hedges: Consolidated statement of operations line item that includes gain (loss) recognized Amount of gain (loss) recognized in 2021 2020 2019 Relating to investment portfolio: Foreign exchange forward contracts Net investment gains (losses) $ 4,346 $ (2,434) $ 1,854 Interest rate swaps Net investment gains (losses) — — (3,677) Relating to underwriting portfolio: Foreign exchange forward contracts Foreign exchange gains (losses) (50,738) 44,166 (10,678) Other underwriting-related contracts Other insurance related income (loss) 2,742 (9,035) 1,789 Total $ (43,650) $ 32,697 $ (10,712)

RESERVE FOR LOSSES AND LOSS E_2

RESERVE FOR LOSSES AND LOSS EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2021
Insurance Loss Reserves [Abstract]
SCHEDULE OF THE LINES OF BUSINESS CATEGORIES AND THE EXPECTED CLAIM TAILS	The following tables map the Company's lines of business to reserve classes and the expected claim tails: Insurance segment Reserve class and tail Property and other Marine Aviation Credit and political risk Professional lines Liability Short Short Short/Medium Medium Medium Long Reported lines of business Property X Marine X Terrorism X Aviation X Credit and political risk X Professional lines X Liability X Accident and health X Discontinued lines - Novae X X X Reinsurance segment Reserve class and tail Property and other Credit and surety Professional lines Motor Liability Short Medium Medium Long Long Reported lines of business Catastrophe X Property X Credit and surety X Professional lines X Motor X Liability X Engineering X Agriculture X Marine and aviation X Accident and health X Discontinued lines - Novae X X X
COMPONENTS OF RESERVE FOR LOSSES AND LOSS EXPENSES	Reserve for losses and loss expenses comprise the following: At December 31, 2021 2020 Reserve for reported losses and loss expenses $ 5,539,971 $ 5,331,900 Reserve for losses incurred but not reported 9,113,123 8,594,866 Reserve for losses and loss expenses $ 14,653,094 $ 13,926,766
RECONCILIATION OF BEGINNING AND ENDING GROSS RESERVE FOR LOSSES AND LOSS EXPENSES AND NET RESERVE FOR UNPAID LOSSES AND LOSS EXPENSES	The following table presents a reconciliation of the Company's beginning and ending gross reserves for losses and loss expenses and net reserves for unpaid losses and loss expenses: Year ended December 31, 2021 2020 2019 Gross reserve for losses and loss expenses, beginning of year $ 13,926,766 $ 12,752,081 $ 12,280,769 Less reinsurance recoverable on unpaid losses, beginning of year (4,496,641) (3,877,756) (3,501,669) Net reserve for unpaid losses and loss expenses, beginning of year 9,430,125 8,874,325 8,779,100 Net incurred losses and loss expenses related to: Current year 3,041,193 3,297,161 3,123,698 Prior years (32,410) (15,909) (78,900) 3,008,783 3,281,252 3,044,798 Net paid losses and loss expenses related to: Current year (490,011) (571,442) (598,988) Prior years (2,274,240) (2,365,959) (2,371,637) (2,764,251) (2,937,401) (2,970,625) Foreign exchange and other (39,174) 211,949 21,052 Net reserve for unpaid losses and loss expenses, end of year 9,635,483 9,430,125 8,874,325 Reinsurance recoverable on unpaid losses, end of year 5,017,611 4,496,641 3,877,756 Gross reserve for losses and loss expenses, end of year $ 14,653,094 $ 13,926,766 $ 12,752,081
NET PRIOR YEAR RESERVE DEVELOPMENT BY SEGMENT	The following table presents net prior year reserve development by segment: Favorable (Adverse) Insurance Reinsurance Total Year ended December 31, 2021 $ 18,360 $ 14,049 $ 32,410 Year ended December 31, 2020 8,937 6,972 15,909 Year ended December 31, 2019 53,302 25,598 78,900 Insurance Segment : Favorable (Adverse) Years ended December 31, 2021 2020 2019 Property and other $ 86,876 $ 46,791 $ 11,042 Marine 28,430 16,780 33,260 Aviation 14,106 6,416 3,741 Credit and political risk 10,363 (745) 18,810 Professional lines (78,588) (35,661) 11,721 Liability (42,827) (24,644) (25,272) Total $ 18,360 $ 8,937 $ 53,302 Reinsurance Segment : Favorable (Adverse) Years ended December 31, 2021 2020 2019 Property and other $ 8,282 $ (5,935) $ (133,448) Credit and surety 3,436 36,829 53,223 Professional lines (23,718) (15,352) 3,668 Motor 43,968 21,086 70,872 Liability (17,919) (29,656) 31,283 Total $ 14,049 $ 6,972 $ 25,598
NET INCURRED AND PAID CLAIMS DEVELOPMENT TABLES BY ACCIDENT YEAR	Insurance property and other Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2021 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Cumulative number of reported claims Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 392,832 $ 402,013 $ 383,920 $ 363,521 $ 359,326 $ 353,602 $ 352,761 $ 342,723 $ 342,406 $ 335,903 $ 8 29,793 2013 310,545 300,371 273,448 269,504 269,153 279,588 275,919 275,403 276,632 1,069 53,020 2014 362,013 356,814 346,144 330,094 329,003 327,406 322,723 319,317 2,739 62,221 2015 279,805 272,498 261,501 257,068 254,221 256,252 245,590 988 48,317 2016 353,241 380,615 371,911 358,721 352,464 355,523 3,631 93,582 2017 905,430 830,525 822,660 811,219 807,759 3,783 698,013 2018 725,996 784,554 764,189 754,009 17,643 740,146 2019 451,522 446,574 437,227 17,971 674,310 2020 741,881 711,366 97,496 699,571 2021 452,055 121,860 293,463 Total $ 4,695,381 Insurance property and other Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 77,684 $ 214,440 $ 278,538 $ 301,512 $ 309,042 $ 314,210 $ 314,282 $ 316,388 $ 316,614 $ 316,722 2013 76,142 199,585 238,483 249,534 260,576 263,605 265,442 269,290 273,752 2014 133,186 260,405 307,040 314,197 318,414 319,601 316,305 316,319 2015 100,169 204,138 228,910 243,213 243,895 250,620 242,516 2016 125,806 292,009 332,043 340,568 341,693 348,739 2017 256,234 629,722 745,770 775,507 773,007 2018 288,200 585,855 685,681 699,094 2019 197,452 328,183 382,521 2020 220,838 486,815 2021 174,401 Total 4,013,886 All outstanding liabilities before 2012, net of reinsurance 7,291 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 688,786 Insurance marine Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2021 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Cumulative number of reported claims Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 89,643 $ 83,026 $ 68,936 $ 71,000 $ 72,020 $ 74,541 $ 72,698 $ 62,100 $ 65,122 $ 64,686 $ 2,932 4,135 2013 79,514 100,613 95,940 97,010 82,261 81,822 80,781 79,950 80,797 1,218 2,356 2014 59,719 44,469 48,205 44,152 45,634 46,932 40,617 38,112 2,693 2,169 2015 159,499 140,502 135,999 128,687 116,686 121,677 122,084 1,057 2,232 2016 86,403 78,726 76,441 71,066 69,814 68,897 2,105 2,867 2017 206,441 169,508 167,118 163,222 154,218 12,183 4,038 2018 182,358 203,260 191,806 185,628 27,926 4,426 2019 169,706 167,184 171,244 29,024 4,668 2020 171,330 155,167 55,833 4,491 2021 199,007 130,108 3,447 Total $ 1,239,840 Insurance marine Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 10,706 $ 38,466 $ 44,734 $ 49,474 $ 50,284 $ 52,631 $ 54,621 $ 55,654 $ 55,830 $ 58,122 2013 18,873 43,866 54,648 62,825 65,493 76,517 76,660 77,937 79,163 2014 6,362 15,154 26,542 26,682 35,631 40,256 41,344 35,155 2015 21,446 54,640 107,512 110,367 111,761 113,293 120,216 2016 12,490 31,822 57,267 63,245 64,019 65,143 2017 14,634 67,622 91,342 115,634 122,148 2018 26,752 85,409 115,600 126,986 2019 36,293 75,653 116,160 2020 38,554 72,095 2021 20,043 Total 815,231 All outstanding liabilities before 2012, net of reinsurance 5,859 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 430,468 Insurance aviation Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2021 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Cumulative number of reported claims Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 12,782 $ 10,670 $ 10,795 $ 8,709 $ 7,760 $ 7,703 $ 7,590 $ 7,383 $ 7,302 $ 7,205 $ 36 886 2013 15,654 16,334 15,207 15,249 15,586 15,471 16,763 16,670 16,451 260 1,043 2014 20,437 23,038 24,357 21,798 21,857 19,097 17,350 16,716 121 1,374 2015 29,786 28,512 29,845 29,579 27,522 28,001 27,517 179 2,053 2016 29,180 33,517 33,679 31,745 32,473 32,545 325 1,945 2017 55,401 61,524 66,263 68,549 69,799 (458) 4,466 2018 57,877 63,348 61,678 61,338 2,610 4,214 2019 44,106 41,658 41,123 2,003 2,778 2020 37,391 25,380 6,355 1,584 2021 43,585 22,283 1,268 Total $ 341,659 Insurance aviation Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 956 $ 2,863 $ 4,153 $ 5,950 $ 6,823 $ 7,044 $ 7,157 $ 7,093 $ 7,091 $ 7,098 2013 4,401 7,330 9,748 11,450 13,561 14,170 14,487 15,948 15,974 2014 3,989 8,028 11,698 13,856 14,493 14,856 15,027 15,086 2015 8,086 16,166 20,968 23,227 24,686 25,993 26,107 2016 10,416 19,289 26,274 27,838 29,074 29,926 2017 21,176 40,035 50,585 58,920 61,312 2018 21,235 40,068 47,287 50,347 2019 18,052 28,771 31,628 2020 6,324 12,954 2021 7,532 Total 257,964 All outstanding liabilities before 2012, net of reinsurance 4,508 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 88,203 Insurance credit and political risk Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2021 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Cumulative number of reported claims Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 32,602 $ 15,672 $ 12,435 $ 12,447 $ 10,322 $ 47 $ 199 $ 199 $ 199 $ 49 $ 5 4 2013 26,439 25,684 9,759 9,880 14,942 14,067 12,377 12,739 12,614 462 2 2014 38,825 70,713 67,109 68,324 69,589 71,275 70,747 69,113 — 6 2015 30,329 30,368 27,524 26,012 25,930 24,851 24,189 880 2 2016 45,760 44,711 42,221 42,792 26,577 25,597 1,081 1 2017 48,555 33,148 27,634 19,804 17,592 8,590 3 2018 43,738 36,562 35,546 27,656 13,354 2 2019 51,407 79,778 73,471 16,248 19 2020 60,927 69,263 31,314 37 2021 42,600 39,624 8 Total $ 362,144 Insurance credit and political risk Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ — $ — $ — $ — $ 40 $ 42 $ 44 $ 44 $ 44 $ 44 2013 745 2,235 3,726 5,216 11,769 13,828 13,828 13,828 12,151 2014 1,924 39,952 61,108 57,858 57,858 64,051 70,224 70,224 2015 — 23,309 23,309 23,309 23,309 23,309 23,309 2016 — 24,516 24,516 24,516 24,516 24,516 2017 421 4,173 9,529 12,034 11,252 2018 5,552 13,897 15,971 12,432 2019 16,431 46,924 54,239 2020 10,013 91,352 2021 2,769 Total 302,288 All outstanding liabilities before 2012, net of reinsurance (874) Liabilities for claims and claim adjustment expenses, net of reinsurance $ 58,982 Insurance professional lines Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2021 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Cumulative number of reported claims Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 329,064 $ 376,334 $ 377,681 $ 376,619 $ 363,769 $ 365,781 $ 354,414 $ 352,476 $ 334,321 $ 337,000 $ 20,571 8,348 2013 384,382 398,008 399,307 366,094 355,419 357,807 335,888 339,108 335,453 36,146 9,473 2014 413,511 412,262 422,079 392,916 372,390 354,972 348,326 351,729 51,739 9,858 2015 378,217 377,970 383,614 358,613 345,416 328,723 329,377 47,302 10,532 2016 350,015 352,753 359,176 360,698 370,847 374,148 58,192 11,909 2017 394,239 398,881 440,090 436,589 453,259 103,291 13,870 2018 363,496 379,463 433,040 460,903 130,876 16,765 2019 406,170 428,019 467,030 206,644 16,954 2020 440,967 432,895 283,686 11,622 2021 509,463 448,897 8,271 Total $ 4,051,257 Insurance professional lines Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 7,825 $ 41,505 $ 100,434 $ 184,776 $ 231,582 $ 254,682 $ 274,150 $ 282,494 $ 298,902 $ 304,095 2013 17,718 73,251 130,081 176,433 213,979 243,890 264,537 277,239 291,767 2014 23,579 70,688 130,348 192,845 224,461 243,586 253,387 277,463 2015 20,291 67,886 138,136 170,009 204,121 243,082 258,963 2016 15,913 71,229 147,678 192,832 234,825 261,321 2017 21,052 71,877 139,143 206,193 240,455 2018 20,945 82,982 155,101 222,374 2019 28,206 99,158 169,088 2020 26,640 95,558 2021 34,035 Total 2,155,119 All outstanding liabilities before 2012, net of reinsurance 113,232 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 2,009,370 Insurance liability Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2021 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Cumulative number of reported claims Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 70,859 $ 71,690 $ 74,135 $ 71,474 $ 68,658 $ 75,698 $ 72,727 $ 67,238 $ 64,542 $ 61,993 $ 10,249 3,355 2013 93,234 95,309 95,175 88,243 93,682 95,983 91,943 89,902 94,201 13,218 3,690 2014 107,136 124,313 129,774 130,674 132,021 131,477 132,585 132,064 14,321 5,265 2015 128,437 127,424 137,652 165,160 182,891 188,218 187,146 26,055 6,390 2016 124,322 130,209 128,940 127,572 120,333 120,309 27,993 7,208 2017 167,803 165,661 185,998 202,508 206,833 36,274 8,471 2018 168,202 169,241 192,289 205,961 51,462 8,292 2019 192,358 193,526 222,820 83,628 7,567 2020 225,407 225,866 171,715 5,285 2021 233,055 198,167 4,171 Total $ 1,690,248 Insurance liability Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 1,631 $ 5,514 $ 15,411 $ 30,145 $ 37,139 $ 42,740 $ 46,541 $ 48,034 $ 48,316 $ 48,505 2013 2,360 23,281 33,320 42,051 60,005 66,964 71,983 73,314 78,023 2014 1,414 18,643 49,839 71,596 84,376 93,576 103,050 106,215 2015 5,438 22,444 39,702 92,744 120,313 141,002 150,848 2016 6,323 23,289 36,382 56,455 66,371 79,594 2017 5,561 29,610 59,306 116,157 144,267 2018 9,460 34,931 72,398 119,446 2019 7,887 39,986 83,943 2020 8,163 25,245 2021 13,413 Total 849,499 All outstanding liabilities before 2012, net of reinsurance 61,635 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 902,384 Reinsurance property and other Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2021 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 555,785 $ 523,613 $ 508,032 $ 477,396 $ 461,542 $ 456,536 $ 457,952 $ 454,701 $ 454,280 $ 451,567 $ 81 2013 580,230 562,186 531,304 510,944 504,945 504,433 501,123 500,490 497,825 585 2014 542,903 525,809 499,636 487,065 485,213 484,443 481,582 481,788 3,587 2015 478,050 465,733 460,576 455,252 451,295 456,549 453,142 1,568 2016 618,765 637,746 624,507 620,858 622,706 623,977 8,053 2017 1,099,195 1,080,897 1,103,419 1,110,521 1,105,803 40,302 2018 884,369 1,010,076 1,014,311 1,019,138 44,435 2019 951,665 949,822 924,338 78,420 2020 859,634 893,869 163,285 2021 783,134 425,137 Total $ 7,234,581 Reinsurance property and other Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 122,945 $ 294,809 $ 367,575 $ 390,051 $ 404,621 $ 414,306 $ 416,360 $ 428,889 $ 430,468 $ 434,420 2013 107,774 325,596 442,216 472,619 482,360 483,785 484,429 484,128 487,971 2014 102,421 353,313 435,322 452,832 458,981 463,976 461,202 468,080 2015 71,550 266,150 369,339 401,731 414,291 420,783 436,720 2016 128,812 378,387 522,648 565,778 584,602 592,193 2017 252,454 723,271 866,481 938,025 965,116 2018 196,679 646,904 793,481 859,649 2019 162,093 590,010 708,467 2020 209,072 483,680 2021 165,582 Total 5,601,878 All outstanding liabilities before 2012, net of reinsurance 20,247 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 1,652,950 Reinsurance credit and surety Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2021 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 158,822 $ 148,841 $ 151,401 $ 148,622 $ 140,246 $ 132,213 $ 128,662 $ 125,625 $ 123,383 $ 122,058 $ 1,642 2013 165,106 153,538 144,733 140,863 136,675 125,376 125,497 128,319 127,065 2,445 2014 137,007 136,403 143,576 139,862 128,434 127,133 123,430 122,149 990 2015 160,874 166,772 161,575 157,491 138,575 139,565 140,788 3,998 2016 142,299 141,963 149,807 124,115 116,440 114,123 2,592 2017 139,346 133,506 127,691 118,941 116,204 6,021 2018 112,256 121,246 115,905 112,859 13,156 2019 75,066 69,366 69,399 10,705 2020 77,354 84,115 40,625 2021 52,278 36,571 Total $ 1,061,038 Reinsurance credit and surety Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 49,736 $ 85,902 $ 99,969 $ 105,808 $ 109,335 $ 111,111 $ 112,430 $ 114,392 $ 114,809 $ 113,870 2013 32,474 77,279 92,165 98,755 106,422 108,318 113,284 115,494 113,741 2014 35,632 61,490 86,580 95,711 103,309 107,724 108,232 108,039 2015 32,944 82,167 100,347 117,426 119,333 123,042 123,907 2016 42,110 73,643 92,792 102,465 103,591 102,153 2017 37,387 74,473 91,162 102,901 101,047 2018 39,079 69,040 73,748 85,470 2019 19,382 31,841 46,028 2020 25,386 34,330 2021 4,477 Total 833,062 All outstanding liabilities before 2012, net of reinsurance 21,326 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 249,302 Reinsurance professional lines Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2021 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 209,815 $ 216,364 $ 221,821 $ 224,214 $ 222,937 $ 212,941 $ 214,341 $ 207,151 $ 203,653 $ 205,581 $ 8,110 2013 209,516 214,662 215,862 214,075 213,590 206,226 182,005 169,783 165,978 8,416 2014 219,544 219,610 219,552 219,509 233,896 230,376 229,236 227,369 5,971 2015 212,183 212,226 214,606 225,365 232,164 229,418 236,208 19,277 2016 195,328 196,480 200,309 228,398 256,207 256,242 32,832 2017 155,335 156,019 162,447 179,072 189,356 35,316 2018 146,729 149,373 156,429 167,128 47,916 2019 139,177 139,131 143,214 68,827 2020 141,974 143,135 105,608 2021 149,925 131,625 Total $ 1,884,136 Reinsurance professional lines Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 778 $ 10,404 $ 29,657 $ 53,696 $ 86,064 $ 107,351 $ 132,030 $ 146,093 $ 155,739 $ 165,580 2013 1,066 12,089 30,544 65,027 81,721 105,054 123,498 128,867 133,276 2014 2,019 13,079 48,891 74,640 109,356 147,361 159,081 178,781 2015 3,134 13,506 41,565 79,285 112,030 132,153 152,907 2016 1,771 20,566 52,689 95,450 125,448 154,200 2017 2,814 14,961 39,960 62,975 89,223 2018 271 2,616 31,352 57,170 2019 371 13,696 33,902 2020 3,825 14,109 2021 4,337 Total 983,485 All outstanding liabilities before 2012, net of reinsurance 68,013 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 968,664 Reinsurance motor Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2021 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 182,633 $ 173,749 $ 162,106 $ 154,440 $ 149,527 $ 139,917 $ 136,989 $ 128,719 $ 129,001 $ 125,068 $ 9,380 2013 167,165 165,656 153,715 144,202 140,724 137,925 128,823 125,709 121,852 5,645 2014 187,744 190,577 185,889 183,176 178,705 175,289 171,880 171,540 4,531 2015 228,839 226,222 230,494 232,237 220,530 219,179 216,102 8,044 2016 252,697 273,424 275,311 264,703 256,311 253,527 7,507 2017 375,025 388,304 377,357 377,101 377,449 26,571 2018 368,844 372,104 384,410 380,446 42,305 2019 349,016 348,877 349,747 51,861 2020 225,728 229,582 71,686 2021 188,428 111,017 Total $ 2,413,741 Reinsurance motor Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 29,565 $ 54,803 $ 70,098 $ 80,217 $ 86,965 $ 91,200 $ 93,594 $ 94,827 $ 86,130 $ 97,432 2013 34,395 55,392 70,078 80,600 86,524 92,307 95,445 86,532 99,978 2014 43,918 76,923 97,479 106,072 116,724 126,849 122,682 143,954 2015 58,581 96,745 118,018 135,958 152,558 154,002 177,260 2016 61,686 108,670 133,970 152,721 166,826 191,945 2017 73,425 139,560 171,933 208,687 232,316 2018 85,158 148,084 215,555 227,804 2019 90,829 186,943 206,602 2020 44,268 100,288 2021 42,173 Total 1,519,752 All outstanding liabilities before 2012, net of reinsurance 230,586 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 1,124,575 Reinsurance liability Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2021 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 166,836 $ 163,315 $ 167,715 $ 172,661 $ 173,827 $ 171,269 $ 164,524 $ 158,528 $ 160,665 $ 163,062 $ 11,222 2013 171,714 175,587 182,564 184,591 184,252 177,391 157,366 156,069 154,459 12,187 2014 199,798 203,282 205,011 200,935 199,736 197,580 188,082 183,909 19,068 2015 215,061 215,460 216,437 216,257 214,011 214,132 203,913 28,578 2016 240,882 246,322 251,424 254,716 264,749 268,888 50,187 2017 275,897 271,104 280,632 290,024 299,740 73,074 2018 265,519 270,527 275,980 288,528 90,968 2019 263,805 273,309 275,176 135,114 2020 284,232 285,083 189,324 2021 304,922 265,558 Total $ 2,427,680 Reinsurance liability Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 2012 $ 3,541 $ 12,803 $ 28,392 $ 58,815 $ 78,291 $ 101,234 $ 115,695 $ 126,071 $ 134,357 $ 136,365 2013 5,974 22,242 52,338 69,069 88,280 102,617 113,154 123,710 128,124 2014 7,094 28,672 48,445 70,214 89,502 110,095 130,304 137,659 2015 7,271 27,460 54,556 80,911 109,056 131,010 141,808 2016 11,884 37,742 69,655 112,028 143,293 167,276 2017 12,477 42,227 78,771 121,223 159,265 2018 19,361 50,121 85,510 128,405 2019 19,326 45,415 80,066 2020 16,950 49,233 2021 10,998 Total 1,139,199 All outstanding liabilities before 2012, net of reinsurance 114,137 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 1,402,618
AVERAGE ANNUAL PERCENTAGE PAYOUT OF INCURRED CLAIMS BY AGE, NET OF REINSURANCE	Insurance property and other Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 35.3% 40.8% 13.7% 3.8% 1.3% 1.5% (0.9%) 0.7% 0.9% —% Insurance marine Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 17.2% 29.2% 23.6% 7.2% 5.8% 6.4% 3.0% (4.3%) 0.9% 3.5% Insurance aviation Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 27.6% 26.1% 15.9% 11.1% 6.9% 3.3% 1.2% 2.8% 0.1% 0.1% Insurance credit and political risk Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 7.5% 52.2% 11.3% 1.2% 21.5% 5.9% 3.3% —% (6.7%) —% Insurance professional lines Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 5.3% 13.9% 17.3% 15.4% 10.6% 8.0% 4.9% 4.4% 4.6% 1.5% Insurance liability Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 3.5% 12.3% 15.3% 20.7% 12.8% 9.1% 6.0% 2.1% 2.8% 0.3% Reinsurance property and other Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 21.1% 42.3% 17.8% 6.0% 2.5% 1.2% 0.9% 1.4% 0.6% 0.9% Reinsurance credit and surety Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 28.9% 26.2% 14.1% 8.4% 2.7% 1.6% 1.5% 1.0% (0.6%) (0.8%) Reinsurance professional lines Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 1.2% 5.8% 13.2% 14.9% 13.4% 12.2% 9.3% 6.2% 3.7% 4.8% Reinsurance motor Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 23.8% 19.9% 11.0% 7.2% 6.0% 4.9% 3.2% 2.0% 2.0% 9.0% Reinsurance liability Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 4.5% 9.9% 12.8% 14.2% 12.2% 10.9% 8.0% 5.7% 4.0% 1.2%
RECONCILIATION OF DEVELOPMENT TABLES TO CONSOLIDATED BALANCE SHEET	The following table reconciles the reserve for losses and loss expenses at December 31, 2021, included in the loss development tables to the reserve for losses and loss expenses reported in the consolidated balance sheet: Reconciliation of the disclosure of incurred and paid claims development to the liability At December 31, 2021 Net outstanding liabilities Reinsurance recoverable on unpaid claims Gross outstanding liabilities Insurance segment Property and other $ 688,786 $ 417,814 $ 1,106,600 Marine 430,468 182,584 613,052 Aviation 88,203 58,067 146,270 Credit and political risk 58,982 (23,381) 35,601 Professional lines 2,009,370 1,494,488 3,503,858 Liability 902,384 1,321,469 2,223,853 Total insurance segment 4,178,193 3,451,041 7,629,234 Reinsurance segment Property and other 1,652,950 584,201 2,237,151 Credit and surety 249,302 66,965 316,267 Professional lines 968,664 251,341 1,220,005 Motor 1,124,575 229,195 1,353,770 Liability 1,402,618 434,868 1,837,486 Total reinsurance segment 5,398,109 1,566,570 6,964,679 Total $ 9,576,302 $ 5,017,611 14,593,913 Unallocated claims adjustment expenses 159,676 Foreign exchange and other (1) 48,373 Ceded reserves related to retroactive transactions (148,868) Total liability for unpaid claims and claims adjustment expense $ 14,653,094 (1) Non-U.S. dollar denominated loss data is converted to U.S dollar at the rates of exchange in effect at the balance sheet date for material underlying currencies. Fluctuations in currency exchange rates may cause material shifts in loss development. Reserves for losses and loss expenses disclosed in the consolidated balance sheets are also remeasured using rates of exchange in effect at the balance sheet date.

REINSURANCE (Tables)

REINSURANCE (Tables)	12 Months Ended
	Dec. 31, 2021
Reinsurance Disclosures [Abstract]
BREAKDOWN OF GROSS AND NET PREMIUMS WRITTEN AND EARNED	The following table presents gross and net premiums written and earned: Year ended December 31, 2021 2020 2019 Premiums Premiums Premiums Premiums Premiums Premiums Gross $ 7,685,984 $ 7,281,709 $ 6,826,938 $ 6,768,733 $ 6,898,858 $ 6,910,677 Ceded (2,759,360) (2,571,859) (2,490,529) (2,397,424) (2,409,243) (2,323,499) Net $ 4,926,624 $ 4,709,850 $ 4,336,409 $ 4,371,309 $ 4,489,615 $ 4,587,178

DEBT AND FINANCING ARRANGEMEN_2

DEBT AND FINANCING ARRANGEMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
SCHEDULE OF DEBT	The following table summarizes the Company's debt: Year ended December 31, 2021 2020 5.150% Senior Notes $ 246,632 $ 246,559 4.000% Senior Notes 347,665 347,324 3.900% Senior Notes 296,172 295,748 Junior Subordinated Notes 420,506 420,064 Total Debt $ 1,310,975 $ 1,309,695 The tables below provide the key terms of the Company's debt: Description Issuance Date Aggregate Principal Issue Price Net Proceeds Maturity Date 5.150% Senior Notes March 13, 2014 $ 250,000 99.474 % $ 246,000 April 1, 2045 4.000% Senior Notes December 6, 2017 $ 350,000 99.780 % $ 347,000 December 6, 2027 3.900% Senior Notes June 19, 2019 $ 300,000 99.360 % $ 296,000 July 15, 2029 Junior Subordinated Notes December 10, 2019 $ 425,000 99.000 % $ 420,750 January 15, 2040 Description Interest Rate Interest Payments Due 5.150% Senior Notes 5.150 % Semi-annually in arrears on April 1 and October 1 of each year 4.000% Senior Notes 4.000 % Semi-annually in arrears on June 6 and December 6 of each year 3.900% Senior Notes 3.900 % Semi-annually in arrears on January 15 and July 15 of each year Junior Subordinated Notes (1) 4.900 % Semi-annually on January 15 and July 15 of each year (1) The Junior Subordinated Notes accrue interest from the date of issuance to, but excluding, January 15, 2030 (the "Par Call Date") at the fixed rate of 4.900% and from, and including, the Par Call Date, at a rate equal to the Five-Year Treasury Rate as of the Reset Interest Determination Date, plus 3.186%. Interest of the Junior Notes is payable semi-annually on January 15 and July 15 of each year, beginning on July 15, 2020.
SCHEDULED DEBT MATURITY	The following table provides the scheduled maturity of the Company's debt obligations at December 31, 2021: Year ended December 31, 2022 $ — 2023 — 2024 — 2025 — 2026 — After 2026 1,325,000 Unamortized discount and debt issuance expenses (14,025) Total senior notes and notes payable $ 1,310,975

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
SUMMARY OF LEASE EXPENSE AND RELATED CASH FLOWS	The following table presents the Company’s total lease expense and the cash flows arising from lease transactions: Year ended December 31, 2021 2020 2019 Lease cost: Operating lease expense $ 21,864 $ 24,726 $ 27,549 Short-term lease expense (1) 1,127 299 1,132 Sublease income (2) (3,116) (3,578) (1,144) Total lease expense $ 19,875 $ 21,447 $ 27,537 Other information: Operating cash outflows from operating leases $ 22,726 $ 20,452 $ 25,004 Right-of-use assets obtained in exchange for new operating lease liabilities (3) $ (1,739) $ 36,742 — Weighted-average remaining lease term - operating leases (4) 10.0 years 10.2 years 9.0 years Weighted-average discount rate - operating lease (5) 4.1% 4.2 % 4.7 % (1) Short-term lease expense is recognized on a straight-line basis over the lease term. (2) Sublease income largely relates to office properties in New York and London. (3) In 2021, the Company modified a lease agreement to reflect a reduction in the floor space it occupies in its office property in Zurich. (4) Weighted-average remaining lease term was calculated on the basis of the remaining lease term and the lease liability balance for each lease at the reporting date. (5) Weighted-average discount was calculated on the basis of the discount rate that was used to calculate the lease liability balance for each lease at the reporting date and the remaining balance of the lease payments for each lease at the reporting date.
MATURITY SCHEDULE AND MINIMUM LEASE PAYMENTS	The following table presents the scheduled maturity of the Company's operating lease liabilities at December 31, 2021: Year ended December 31, Expected cash flows 2022 $ 23,262 2023 19,725 2024 13,556 2025 12,924 2026 10,770 Later years 66,705 Discount (27,430) Total discounted operating lease liabilities $ 119,512 The following table presents the scheduled maturity of the Company's operating lease liabilities at December 31, 2020: Year ended December 31, Expected cash flows 2021 $ 22,817 2022 23,598 2023 20,190 2024 14,478 2025 13,849 Later years 78,987 Discount (33,656) Total discounted operating lease liabilities $ 140,263

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
BASIC AND DILUTED EARNINGS PER COMMON SHARE	The following table presents a comparison of earnings (loss) per common share and earnings (loss) per diluted common share: At and year ended December 31, 2021 2020 2019 Earnings (loss) per common share Net income (loss) $ 618,609 $ (120,424) $ 323,473 Less: Preferred share dividends 30,250 30,250 41,112 Net income (loss) available (attributable) to common shareholders $ 588,359 $ (150,674) $ 282,361 Weighted average common shares outstanding 84,707 84,262 83,894 Earnings (loss) per common share $ 6.95 $ (1.79) $ 3.37 Earnings (loss) per diluted common share Net income (loss) available (attributable) to common shareholders $ 588,359 $ (150,674) $ 282,361 Weighted average common shares outstanding 84,707 84,262 83,894 Share-based compensation plans (1) 584 — 579 Weighted average diluted common shares outstanding 85,291 84,262 84,473 Earnings (loss) per diluted common share $ 6.90 $ (1.79) $ 3.34 Weighted average anti-dilutive shares excluded from the dilutive computation 656 922 154 (1) Due to the net loss recognized for the year ended December 31, 2020, the share equivalents were anti-dilutive.

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
COMMON SHARES ISSUED AND OUTSTANDING	The following table presents changes in common shares issued and outstanding: Year ended December 31, 2021 2020 2019 Shares issued, balance at beginning of year 176,580 176,580 176,580 Shares issued — — — Total shares issued at end of year 176,580 176,580 176,580 Treasury shares, balance at beginning of year (92,227) (92,621) (92,994) Shares repurchased (205) (194) (176) Shares reissued 626 588 549 Total treasury shares at end of year (91,806) (92,227) (92,621) Total shares outstanding 84,774 84,353 83,959
SHARE REPURCHASES	The following table presents common shares repurchased from shares held in Treasury: Year ended December 31, 2021 2020 2019 In the open market: Total shares — — — Total cost $ — $ — $ — Average price per share (1) $ — $ — $ — From employees: (2) Total shares 205 194 176 Total cost $ 10,242 $ 10,382 $ 10,165 Average price per share (1) $ 49.93 $ 53.43 $ 57.66 Total shares repurchased: Total shares 205 194 176 Total cost $ 10,242 $ 10,382 $ 10,165 Average price per share (1) $ 49.93 $ 53.43 $ 57.66 (1) Calculated using whole numbers.
SUMMARY OF DIVIDENDS DECLARED AND PAID	The following table presents dividends declared and paid related to the Company's common and preferred shares: Per share data Dividends declared Dividends paid in year of declaration Dividends paid in year following declaration Year ended December 31, 2021 Common shares $ 1.69 $ 1.26 $ 0.43 Series E preferred shares $ 137.50 $ 103.13 $ 34.38 Year ended December 31, 2020 Common shares $ 1.65 $ 1.23 $ 0.42 Series E preferred shares $ 137.50 $ 103.13 $ 34.38 Year ended December 31, 2019 Common shares $ 1.61 $ 1.20 $ 0.41 Series D preferred shares (1) $ 1.21 $ 1.03 $ 0.18 Series E preferred shares $ 137.50 $ 103.13 $ 34.38 (1) On January 17, 2020, the Company redeemed all 9,000,000 Series D preferred shares, for an aggregate liquidation preference of $225 million. The final dividend related to the Series D preferred shares was declared in 2019.

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
ADDITIONAL INFORMATION RELATED TO SHARE BASED COMPENSATION	The following table provides details of the significant inputs used in the Monte Carlo simulation model: Year ended December 31, 2021 Expected volatility 32.99% Expected term (in years) 3.0 Expected dividend yield n/a Risk-free interest rate 0.17% The following table provides additional information related to share-based compensation: Year ended December 31, 2021 2020 2019 Share-based compensation expense (1) $ 49,415 $ 47,789 $ 52,218 Tax benefits associated with share-based compensation expense $ 7,613 $ 8,061 $ 8,913 Liability for cash-settled restricted stock units (2) $ 9,091 $ 13,273 $ 21,731 Fair value of restricted stock units vested (3) $ 42,967 $ 50,757 $ 51,206 Unrecognized share-based compensation expense $ 80,805 $ 74,014 $ 75,770 Expected weighted average period associated with the recognition of unrecognized share-based compensation expense 2.4 years 2.4 years 2.3 years (1) Related to share-settled restricted stock units and cash-settled restricted stock units. (2) Included in other liabilities in the consolidated balance sheets. (3) Fair value is based on the closing price of the Company's common shares on the vest date.
RECONCILIATION OF BEGINNING AND ENDING BALANCE OF NONVESTED RESTRICTED STOCK (INCLUDING RSUS) TO BE SETTLED IN SHARES AND CASH	The following table provides an activity summary of the Company's share-settled restricted stock units: Share-Settled Performance Share-Settled Service Number of Weighted average grant date Number of Weighted average Nonvested restricted stock units - December 31, 2019 258 $ 53.31 1,273 $ 54.32 Granted 97 62.26 894 58.98 Vested (27) 64.01 (561) 55.29 Forfeited (39) 48.89 (105) 57.54 Nonvested restricted stock units - December 31, 2020 289 55.92 1,501 56.50 Granted 122 49.04 1,250 48.04 Vested (66) 48.89 (561) 56.42 Forfeited (34) 55.68 (128) 53.37 Nonvested restricted stock units - December 31, 2021 311 $ 54.75 2,062 $ 51.59 The following table provides an activity summary of the Company's cash-settled restricted stock units: Cash-Settled Performance Restricted Stock Units Cash-Settled Service Restricted Stock Units Number of Number of Nonvested restricted stock units - December 31, 2019 6 853 Granted — 1 Vested (6) (332) Forfeited — (51) Nonvested restricted stock units - December 31, 2020 — 471 Granted — — Vested — (233) Forfeited — (23) Nonvested restricted stock units - December 31, 2021 — 215

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
SCHEDULE OF INCOME TAX EXPENSE AND NET TAX ASSETS	The following table provides an analysis of income tax expense (benefit) and net tax assets: Year ended December 31, 2021 2020 2019 Current income tax expense (benefit) U.S. $ 35,229 $ (1,122) $ 12,601 Europe (6,082) 365 22,425 Other — — 469 Deferred income tax expense (benefit) U.S. (3,369) (3,098) 17,665 Europe 36,606 (8,466) (29,468) Total income tax expense (benefit) $ 62,384 $ (12,321) $ 23,692 Net current tax receivables $ 27,883 $ 12,205 $ 13,130 Net deferred tax assets (liabilities) 12,860 (1,625) 18,621 Net tax assets $ 40,743 $ 10,580 $ 31,751
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES	The following table provides details of the significant components of deferred tax assets and liabilities: At December 31, 2021 2020 Deferred tax assets: Discounting of net reserves for losses and loss expenses $ 53,415 $ 47,912 Unearned premiums 53,342 46,049 Operating and capital loss carryforwards (1) 85,358 80,008 Accruals not currently deductible 38,294 28,096 Tax credits 2,709 11,142 Other deferred tax assets 5,040 4,352 Deferred tax assets before valuation allowance 238,158 217,559 Valuation allowance (16,918) (20,778) Deferred tax assets net of valuation allowance 221,240 196,781 Deferred tax liabilities: Deferred acquisition costs (34,845) (37,098) Net unrealized investments gains (23,866) (39,459) Intangible assets (52,722) (46,132) Equalization reserves (2,365) (2,825) Acquisition adjustments (79,464) (60,261) Other deferred tax liabilities (15,118) (12,631) Deferred tax liabilities (208,380) (198,406) Net deferred tax assets (liabilities) $ 12,860 $ (1,625) (1) At December 31, 2021 and 2020, the total operating loss carryforwards includes Lloyd's deferred year of account losses of $nil and $39 million, respectively.
SUMMARY OF TAX CREDITS	The following table summarizes total operating and capital loss carryforwards and tax credits: At December 31, 2021 2020 Operating and Capital Loss Carryforwards (1) Singapore (branch) operating loss carryforward $ 76,287 $ 110,504 U.K. operating loss carryforward (2) 308,491 357,226 Ireland operating loss carryforward 11,850 404 Ireland capital loss carryforward 716 716 Switzerland operating loss carryforward 15,989 — Belgian operating loss carryforward — 1,850 Tax Credits (1) Ireland foreign tax credit $ 338 $ 2,386 U.K. foreign tax credit 2,372 8,756 (1) At December 31, 2021, all remaining operating and capital loss carryforwards and tax credits can be carried forward indefinitely.
SUMMARY OF OPERATING AND CAPITAL LOSS CARRYFORWARDS	The following table summarizes total operating and capital loss carryforwards and tax credits: At December 31, 2021 2020 Operating and Capital Loss Carryforwards (1) Singapore (branch) operating loss carryforward $ 76,287 $ 110,504 U.K. operating loss carryforward (2) 308,491 357,226 Ireland operating loss carryforward 11,850 404 Ireland capital loss carryforward 716 716 Switzerland operating loss carryforward 15,989 — Belgian operating loss carryforward — 1,850 Tax Credits (1) Ireland foreign tax credit $ 338 $ 2,386 U.K. foreign tax credit 2,372 8,756 (1) At December 31, 2021, all remaining operating and capital loss carryforwards and tax credits can be carried forward indefinitely.
VALUATION ALLOWANCE ROLL FORWARD	The following table shows an analysis of the movement in the Company's valuation allowance: At December 31, 2021 2020 Income tax expense: Valuation allowance - beginning of year $ 20,778 $ 18,560 Operating loss carryforwards (3,422) 661 Foreign tax credit (2,048) 293 U.K. branch assets and other foreign rate differentials 1,610 1,264 Valuation allowance - end of year $ 16,918 $ 20,778
EFFECTIVE TAX RATE RECONCILIATION	The following table presents the distribution of income before income taxes between domestic and foreign jurisdictions as well as a reconciliation of the actual income tax rate to the amount computed by applying the effective tax rate of 0% under Bermuda law to income before income taxes: Year ended December 31, 2021 2020 2019 Income (loss) before income taxes Bermuda (domestic) $ 431,310 $ (45,951) $ 179,418 Foreign 249,686 (86,794) 167,747 Total income (loss) before income taxes $ 680,996 $ (132,745) $ 347,165 Reconciliation of effective tax rate (% of income before income taxes) Expected tax rate 0.0 % 0.0 % 0.0 % Foreign taxes at local expected rates: U.S. 4.8 % 5.6 % 8.1 % Europe 2.0 % 9.2 % 0.4 % Valuation allowance (0.5 %) (1.7 %) 1.3 % Change in enacted tax rate (1) 1.5 % (1.7 %) 0.0 % Other 1.4 % (2.1 %) (3.0 %) Actual tax rate 9.2 % 9.3 % 6.8 % (1) At December 31, 2021, the change in enacted tax rate included a change in the UK tax rate from 19% to 25% and in Belgium from 29.58% to 25%. At December 31, 2020, the change in enacted tax rate included a change in UK tax rate from 17% to 19%.

OTHER COMPREHENSIVE INCOME (L_2

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
TAX EFFECTS ALLOCATED TO EACH COMPONENT OF OTHER COMPREHENSIVE INCOME (LOSS)	The following table presents the tax effects allocated to each component of other comprehensive income (loss): Before tax amount Income tax (expense) benefit Net of tax amount Year ended December 31, 2021 Available for sale investments: Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized $ (310,710) $ 39,263 $ (271,447) Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has been recognized 81 — 81 Adjustment for reclassification of net realized (gains) losses and impairment losses recognized in net income (loss) (94,749) 7,635 (87,114) Unrealized gains (losses) arising during the year, net of reclassification adjustment (405,378) 46,898 (358,480) Foreign currency translation adjustment 621 — 621 Total other comprehensive income (loss), net of tax $ (404,757) $ 46,898 $ (357,859) Year ended December 31, 2020 Available for sale investments: Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized $ 360,357 $ (43,191) $ 317,166 Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has been recognized (40) — (40) Adjustment for reclassification of net realized (gains) losses and impairment losses recognized in net income (loss) (90,380) 12,368 (78,012) Unrealized gains (losses) arising during the year, net of reclassification adjustment 269,937 (30,823) 239,114 Foreign currency translation adjustment 3,571 — 3,571 Total other comprehensive income (loss), net of tax $ 273,508 $ (30,823) $ 242,685 Year ended December 31, 2019 Available for sale investments: Unrealized gains (losses) arising during the year $ 414,982 $ (40,367) $ 374,615 Adjustment for reclassification of net realized (gains) losses and OTTI losses recognized in net income (loss) (29,618) 4,889 (24,729) Unrealized gains (losses) arising during the year, net of reclassification adjustment 385,364 (35,478) 349,886 Foreign currency translation adjustment (1,066) — (1,066) Total other comprehensive income (loss), net of tax $ 384,298 $ (35,478) $ 348,820
RECLASSIFICATIONS OUT OF AOCI INTO NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	The following table presents details of amounts reclassified from accumulated other comprehensive income ("AOCI") to net income (loss): Amounts reclassified from AOCI (1) AOCI components Consolidated statement of operations line item that includes reclassification adjustment Years ended December 31, 2021 2020 2019 Unrealized gains (losses) on available for sale investments Other realized gains (losses) $ 94,771 $ 91,866 $ 36,602 Impairment losses (22) (1,486) — OTTI losses — — (6,984) Total before tax 94,749 90,380 29,618 Income tax (expense) benefit (7,635) (12,368) (4,889) Net of tax $ 87,114 $ 78,012 $ 24,729 Foreign currency translation adjustments (2) Foreign exchange gains (losses) $ — $ — $ 6,043 Income tax (expense) benefit — — — Net of tax $ — $ — $ 6,043 (1) Amounts in parentheses are charges to net income (loss). (2) The Company released the cumulative translation adjustment related to Aviabel Re S.A of $6 million from AOCI in the consolidation balance sheet to foreign exchange losses (gains) in the consolidated statement of operations associated with the liquidation of that entity on December 18, 2019.

STATUTORY FINANCIAL INFORMATI_2

STATUTORY FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2021
STATUTORY FINANCIAL INFORMATION [Abstract]
STATUTORY CAPITAL AND SURPLUS BY JURISDICTION	The statutory capital and surplus in each of the Company's most significant regulatory jurisdictions is shown in the following table: Bermuda Ireland U.S. At December 31, 2021 2020 2021 2020 2021 2020 Required statutory capital and surplus $ 1,517,485 $ 1,584,854 $ 755,270 $ 778,493 $ 626,973 $ 542,824 Available statutory capital and surplus $ 3,067,879 $ 3,004,077 $ 1,147,194 $ 1,085,317 $ 1,885,383 $ 1,685,684

ORGANIZATION (Details)

ORGANIZATION (Details)	12 Months Ended
	Dec. 31, 2021	Oct. 02, 2017
Novae
Business Acquisition [Line Items]
Interests acquired		100.00%
Axis Corporate Capital UK Limited
Business Acquisition [Line Items]
Capital support, percentage	70.00%
Axis Corporate Capital UK Limited II
Business Acquisition [Line Items]
Capital support, percentage	30.00%

SEGMENT INFORMATION - Segment r

SEGMENT INFORMATION - Segment results (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)reportableSegment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Segment Reporting [Abstract]
Number of reportable segments | reportableSegment	2
Segment Information [Line Items]
Gross premiums written	$ 7,685,984	$ 6,826,938	$ 6,898,858
Net premiums written	4,926,624	4,336,409	4,489,615
Net premiums earned	4,709,850	4,371,309	4,587,178
Other insurance related income	23,295	(8,089)	16,444
Net losses and loss expenses	(3,008,783)	(3,281,252)	(3,044,798)
Acquisition costs	(921,834)	(929,517)	(1,024,582)
Underwriting-related general and administrative expenses	(663,304)	(579,790)	(634,831)
Net investment income	454,301	349,601	478,572
Net investment gains	134,279	129,133	91,233
Foreign exchange losses	(315)	(81,069)	12,041
Interest expense and financing costs	(62,302)	(75,049)	(68,107)
Reorganization expenses	0	(7,881)	(37,384)
Amortization of value of business acquired	(3,854)	(5,139)	(26,722)
Amortization of intangible assets	(12,424)	(11,390)	(11,597)
Income before income taxes and interest in income of equity method investments	648,909	(129,133)	337,447
Income tax expense	(62,384)	12,321	(23,692)
Interest in income of equity method investments	32,084	(3,612)	9,718
Net income (loss)	618,609	(120,424)	323,473
Preferred share dividends	30,250	30,250	41,112
Net income (loss) available (attributable) to common shareholders	588,359	(150,674)	282,361
Goodwill and intangible assets	309,518
Operating Segments
Segment Information [Line Items]
Gross premiums written	7,685,984	6,826,938	6,898,858
Net premiums written	4,926,624	4,336,409	4,489,615
Net premiums earned	4,709,850	4,371,309	4,587,178
Other insurance related income	23,295	(8,089)	16,444
Net losses and loss expenses	(3,008,783)	(3,281,252)	(3,044,798)
Acquisition costs	(921,834)	(929,517)	(1,024,582)
Underwriting-related general and administrative expenses	(536,834)	(477,968)	(505,735)
Underwriting income (loss)	$ 265,694	$ (325,517)	$ 28,507
Net losses and loss expenses ratio	63.90%	75.10%	66.40%
Acquisition cost ratio	19.60%	21.30%	22.30%
General and administrative expense ratio	14.00%	13.20%	13.90%
Combined ratio	97.50%	109.60%	102.60%
Goodwill and intangible assets	$ 309,518	$ 320,434	$ 332,553
Operating Segments | Insurance
Segment Information [Line Items]
Gross premiums written	4,863,232	4,018,399	3,675,931
Net premiums written	2,894,885	2,357,501	2,209,155
Net premiums earned	2,651,339	2,299,038	2,190,084
Other insurance related income	1,662	2,647	2,858
Net losses and loss expenses	(1,514,998)	(1,697,014)	(1,278,679)
Acquisition costs	(484,344)	(461,533)	(468,281)
Underwriting-related general and administrative expenses	(429,282)	(378,839)	(401,963)
Underwriting income (loss)	$ 224,377	$ (235,701)	$ 44,019
Net losses and loss expenses ratio	57.10%	73.80%	58.40%
Acquisition cost ratio	18.30%	20.10%	21.40%
General and administrative expense ratio	16.20%	16.50%	18.30%
Combined ratio	91.60%	110.40%	98.10%
Goodwill and intangible assets	$ 309,518	$ 320,434	$ 332,553
Operating Segments | Reinsurance
Segment Information [Line Items]
Gross premiums written	2,822,752	2,808,539	3,222,927
Net premiums written	2,031,739	1,978,908	2,280,460
Net premiums earned	2,058,511	2,072,271	2,397,094
Other insurance related income	21,633	(10,736)	13,586
Net losses and loss expenses	(1,493,785)	(1,584,238)	(1,766,119)
Acquisition costs	(437,490)	(467,984)	(556,301)
Underwriting-related general and administrative expenses	(107,552)	(99,129)	(103,772)
Underwriting income (loss)	$ 41,317	$ (89,816)	$ (15,512)
Net losses and loss expenses ratio	72.60%	76.40%	73.70%
Acquisition cost ratio	21.30%	22.60%	23.20%
General and administrative expense ratio	5.10%	4.80%	4.30%
Combined ratio	99.00%	103.80%	101.20%
Goodwill and intangible assets	$ 0	$ 0	$ 0
Significant Reconciling Items
Segment Information [Line Items]
Net investment income	454,301	349,601	478,572
Net investment gains	134,279	129,133	91,233
Foreign exchange losses	(315)	(81,069)	12,041
Interest expense and financing costs	(62,302)	(75,049)	(68,107)
Reorganization expenses	0	(7,881)	(37,384)
Amortization of value of business acquired	(3,854)	(5,139)	(26,722)
Amortization of intangible assets	(12,424)	(11,390)	(11,597)
Corporate
Segment Information [Line Items]
Underwriting-related general and administrative expenses	$ (126,470)	$ (101,822)	$ (129,096)

SEGMENT INFORMATION - Gross pre

SEGMENT INFORMATION - Gross premiums written (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	$ 7,685,984	$ 6,826,938	$ 6,898,858
Bermuda
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	542,693	602,432	738,258
Ireland
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	1,667,496	1,516,596	1,679,646
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	4,002,748	3,398,108	3,090,547
Lloyd's of London
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	$ 1,473,047	$ 1,309,802	$ 1,390,407

SEGMENT INFORMATION - Net premi

SEGMENT INFORMATION - Net premiums earned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Information [Line Items]
Net premiums earned	$ 4,709,850	$ 4,371,309	$ 4,587,178
Operating Segments
Segment Information [Line Items]
Net premiums earned	4,709,850	4,371,309	4,587,178
Operating Segments | Insurance
Segment Information [Line Items]
Net premiums earned	2,651,339	2,299,038	2,190,084
Operating Segments | Insurance | Property
Segment Information [Line Items]
Net premiums earned	662,977	605,650	633,550
Operating Segments | Insurance | Marine
Segment Information [Line Items]
Net premiums earned	354,193	293,746	281,764
Operating Segments | Insurance | Terrorism
Segment Information [Line Items]
Net premiums earned	47,995	47,378	47,345
Operating Segments | Insurance | Aviation
Segment Information [Line Items]
Net premiums earned	84,882	70,910	55,028
Operating Segments | Insurance | Credit and political risk
Segment Information [Line Items]
Net premiums earned	96,604	105,869	91,698
Operating Segments | Insurance | Professional lines
Segment Information [Line Items]
Net premiums earned	898,307	715,276	661,250
Operating Segments | Insurance | Liability
Segment Information [Line Items]
Net premiums earned	354,518	313,291	264,667
Operating Segments | Insurance | Accident and health
Segment Information [Line Items]
Net premiums earned	151,134	143,723	144,499
Operating Segments | Insurance | Discontinued lines - Novae
Segment Information [Line Items]
Net premiums earned	729	3,195	10,283
Operating Segments | Reinsurance
Segment Information [Line Items]
Net premiums earned	2,058,511	2,072,271	2,397,094
Operating Segments | Reinsurance | Property
Segment Information [Line Items]
Net premiums earned	231,080	256,244	311,625
Operating Segments | Reinsurance | Catastrophe
Segment Information [Line Items]
Net premiums earned	238,775	244,934	267,591
Operating Segments | Reinsurance | Credit and surety
Segment Information [Line Items]
Net premiums earned	158,549	187,721	208,717
Operating Segments | Reinsurance | Professional lines
Segment Information [Line Items]
Net premiums earned	220,448	207,605	206,328
Operating Segments | Reinsurance | Liability
Segment Information [Line Items]
Net premiums earned	431,012	396,906	373,664
Operating Segments | Reinsurance | Accident and health
Segment Information [Line Items]
Net premiums earned	361,197	333,996	319,619
Operating Segments | Reinsurance | Discontinued lines - Novae
Segment Information [Line Items]
Net premiums earned	698	1,216	(1,048)
Operating Segments | Reinsurance | Motor
Segment Information [Line Items]
Net premiums earned	247,092	255,916	398,565
Operating Segments | Reinsurance | Engineering
Segment Information [Line Items]
Net premiums earned	28,238	60,521	63,899
Operating Segments | Reinsurance | Agriculture
Segment Information [Line Items]
Net premiums earned	82,744	73,696	188,925
Operating Segments | Reinsurance | Marine and aviation
Segment Information [Line Items]
Net premiums earned	$ 58,678	$ 53,516	$ 59,209

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Analysis of goodwill and intangible assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill
Goodwill, gross	$ 95,890	$ 97,092	$ 97,092
Accumulated translation adjustment	4,911	4,911	4,911
Goodwill, net of accumulated translation adjustment	100,801	102,003	102,003
Impairment charges	0	(1,202)	0
Goodwill	100,801	100,801
Intangible assets with an indefinite life
Gross amount	120,784	120,784	120,784
Accumulated translation adjustment	0	0	0
Intangible assets with an indefinite life, net	120,784	120,784	120,784
Impairment charges	0		0
Intangible assets with a finite life
Gross amount	394,604	394,604	404,304
Accumulated amortization	(291,901)	(275,846)	(247,804)
Accumulated translation adjustment	0	0	0
Finite-lived intangible assets and VOBA, net, before amortization, acquisitions, and impairment	102,703	118,758	156,500
Amortization	(14,770)	(16,055)	(37,742)
Impairment charges	0		0
Intangible assets with a finite life, net	87,933
Total
Gross amount	611,278	612,480	622,180
Accumulated amortization	(291,901)	(275,846)	(247,804)
Accumulated translation adjustment	4,911	4,911	4,911
Intangible assets, net, before amortization, acquisitions, and impairment	324,288	341,545	379,287
Amortization	(14,770)	$ (16,055)	$ (37,742)
Goodwill and intangible assets net balance	$ 309,518

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charges	$ 0	$ 1,202	$ 0
Useful life of finite lived intangible assets	9 years

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Gross amount and accumulated amortization by category (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 515,388	$ 515,388
Accumulated amortization	(306,671)	(291,901)
Total intangible assets	208,717	223,487
Customer relationships and customers lists - Ternian
Finite-Lived Intangible Assets [Line Items]
Gross amount	13,330	13,330
Accumulated amortization	(8,997)	(7,665)
Total intangible assets	4,333	5,665
Coverholders
Finite-Lived Intangible Assets [Line Items]
Gross amount	63,565	63,565
Accumulated amortization	(22,514)	(17,216)
Total intangible assets	41,051	46,349
Large brokers
Finite-Lived Intangible Assets [Line Items]
Gross amount	46,641	46,641
Accumulated amortization	(13,215)	(10,106)
Total intangible assets	33,426	36,535
SME brokers
Finite-Lived Intangible Assets [Line Items]
Gross amount	14,126	14,126
Accumulated amortization	(5,003)	(3,826)
Total intangible assets	9,123	10,300
U.S. state licenses
Finite-Lived Intangible Assets [Line Items]
Gross amount	26,036	26,036
Total intangible assets	26,036	26,036
Syndicate capacity
Finite-Lived Intangible Assets [Line Items]
Gross amount	94,748	94,748
Total intangible assets	94,748	94,748
Novae | VOBA - Novae
Finite-Lived Intangible Assets [Line Items]
Gross amount	256,942	256,942
Accumulated amortization	(256,942)	(253,088)
Total intangible assets	$ 0	$ 3,854

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Estimated amortization expense (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2022	$ 10,916
2023	10,916
2024	10,916
2025	9,921
2026	9,583
After 2026	35,681
Total remaining amortization expense	87,933
Indefinite lived intangible assets	120,784	$ 120,784	$ 120,784
Intangible assets	$ 208,717	$ 219,633

INVESTMENTS - Amortized cost or

INVESTMENTS - Amortized cost or cost and fair values (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Available for sale
Amortized cost	$ 12,241,782	$ 11,566,930
Allowance for expected credit losses	(313)	(323)	$ 0	$ 0
Gross unrealized gains	165,977	494,103
Gross unrealized losses	(94,246)	(18,911)
Fair value	12,313,200	12,041,799
U.S. government and agency
Available for sale
Amortized cost	2,693,319	1,881,489
Allowance for expected credit losses	0	0
Gross unrealized gains	9,776	38,969
Gross unrealized losses	(20,647)	(1,759)
Fair value	2,682,448	1,918,699
Non-U.S. government
Available for sale
Amortized cost	794,705	632,875
Allowance for expected credit losses	0	0
Gross unrealized gains	10,158	38,826
Gross unrealized losses	(9,685)	(428)
Fair value	795,178	671,273
Corporate debt
Available for sale
Amortized cost	4,446,585	4,408,351
Allowance for expected credit losses	(236)	(303)
Gross unrealized gains	87,075	254,261
Gross unrealized losses	(38,112)	(6,358)
Fair value	4,495,312	4,655,951
Agency RMBS
Available for sale
Amortized cost	1,065,973	1,244,727
Allowance for expected credit losses	0	0
Gross unrealized gains	17,397	42,170
Gross unrealized losses	(8,781)	(688)
Fair value	1,074,589	1,286,209
CMBS
Available for sale
Amortized cost	1,223,051	1,268,273
Allowance for expected credit losses	0	0
Gross unrealized gains	29,827	87,598
Gross unrealized losses	(4,687)	(2,284)
Fair value	1,248,191	1,353,587
Non-agency RMBS
Available for sale
Amortized cost	185,854	136,198
Allowance for expected credit losses	(77)	(20)
Gross unrealized gains	2,410	4,604
Gross unrealized losses	(2,023)	(678)
Fair value	186,164	140,104
ABS
Available for sale
Amortized cost	1,628,739	1,712,236
Allowance for expected credit losses	0	0
Gross unrealized gains	3,406	14,527
Gross unrealized losses	(9,665)	(6,685)
Fair value	1,622,480	1,720,078
Municipals
Available for sale
Amortized cost	203,556	282,781
Allowance for expected credit losses	0	0
Gross unrealized gains	5,928	13,148
Gross unrealized losses	(646)	(31)
Fair value	$ 208,838	$ 295,898

INVESTMENTS - Fixed Maturities

INVESTMENTS - Fixed Maturities Held To Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss [Abstract]
Amortized cost	$ 446,016	$ 0
Allowance for expected credit losses	0
Net carrying value	446,016
Gross unrealized gains	99
Gross unrealized losses	(1,082)
Fair value	445,033	$ 0
Corporate debt
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss [Abstract]
Amortized cost	37,700
Allowance for expected credit losses	0
Net carrying value	37,700
Gross unrealized gains	18
Gross unrealized losses	(146)
Fair value	37,572
ABS
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss [Abstract]
Amortized cost	408,316
Allowance for expected credit losses	0
Net carrying value	408,316
Gross unrealized gains	81
Gross unrealized losses	(936)
Fair value	$ 407,461

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Fair value of securities transferred from available for sale to fixed maturities, held to maturity	$ 405,000
Debt securities held to maturity	446,016
Allowance for expected credit losses	0
ABS
Schedule Of Available For Sale Securities [Line Items]
Debt securities held to maturity	408,316
Allowance for expected credit losses	0
Held to maturity securities with no single maturity date	408,000	$ 0
Corporate debt
Schedule Of Available For Sale Securities [Line Items]
Debt securities held to maturity	37,700
Allowance for expected credit losses	0
Held to maturity securities due after five years through ten years	34,000	0
Held to maturity securities due after ten years	$ 4,000	$ 0

INVESTMENTS - Equity securities

INVESTMENTS - Equity securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt and Equity Securities, FV-NI [Line Items]
Equity Securities, FV-NI, Cost	$ 528,864	$ 421,744
Gross unrealized gains	135,230	97,648
Gross unrealized losses	(8,419)	(947)
Fair value	$ 655,675	518,445
Limited Partner
Debt and Equity Securities, FV-NI [Line Items]
Percentage of investment composition (as a percent)	71.00%
Common stocks
Debt and Equity Securities, FV-NI [Line Items]
Equity Securities, FV-NI, Cost	$ 1,264	10,810
Gross unrealized gains	585	689
Gross unrealized losses	(485)	(557)
Fair value	1,364	10,942
Preferred stocks
Debt and Equity Securities, FV-NI [Line Items]
Equity Securities, FV-NI, Cost	115	6,301
Gross unrealized gains	64	1,767
Gross unrealized losses	0	0
Fair value	179	8,068
Exchange-traded funds
Debt and Equity Securities, FV-NI [Line Items]
Equity Securities, FV-NI, Cost	203,455	147,794
Gross unrealized gains	134,037	74,314
Gross unrealized losses	(677)	(390)
Fair value	336,815	221,718
Bond mutual funds
Debt and Equity Securities, FV-NI [Line Items]
Equity Securities, FV-NI, Cost	324,030	256,839
Gross unrealized gains	544	20,878
Gross unrealized losses	(7,257)	0
Fair value	$ 317,317	$ 277,717

INVESTMENTS - Contractual matur

INVESTMENTS - Contractual maturities of fixed maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Amortized cost
Due in one year or less	$ 503,716	$ 436,287
Due after one year through five years	4,878,151	4,165,696
Due after five years through ten years	2,478,542	2,344,859
Due after ten years	277,756	258,654
Total fixed maturities with a single maturity date (amortized cost)	8,138,165	7,205,496
Total	12,241,782	11,566,930
Fair value
Due in one year or less	505,602	444,527
Due after one year through five years	4,908,640	4,335,219
Due after five years through ten years	2,488,478	2,489,050
Due after ten years	279,056	273,025
Total fixed maturities with a single maturity date (fair value)	8,181,776	7,541,821
Fair value	$ 12,313,200	$ 12,041,799
% of Total fair value
Due in one year or less	4.10%	3.60%
Due after one year through five years	39.90%	36.00%
Due after five years through ten years	20.20%	20.70%
Due after ten years	2.30%	2.30%
Fixed maturities with a single maturity date (% of total fair value)	66.50%	62.60%
Total	100.00%	100.00%
Agency RMBS
Amortized cost
Fixed maturities without a single maturity date	$ 1,065,973	$ 1,244,727
Total	1,065,973	1,244,727
Fair value
Fixed maturities without a single maturity date (fair value)	1,074,589	1,286,209
Fair value	$ 1,074,589	$ 1,286,209
% of Total fair value
Fixed maturities without a single maturity date (% of total fair value)	8.70%	10.70%
CMBS
Amortized cost
Fixed maturities without a single maturity date	$ 1,223,051	$ 1,268,273
Total	1,223,051	1,268,273
Fair value
Fixed maturities without a single maturity date (fair value)	1,248,191	1,353,587
Fair value	$ 1,248,191	$ 1,353,587
% of Total fair value
Fixed maturities without a single maturity date (% of total fair value)	10.10%	11.20%
Non-agency RMBS
Amortized cost
Fixed maturities without a single maturity date	$ 185,854	$ 136,198
Total	185,854	136,198
Fair value
Fixed maturities without a single maturity date (fair value)	186,164	140,104
Fair value	$ 186,164	$ 140,104
% of Total fair value
Fixed maturities without a single maturity date (% of total fair value)	1.50%	1.20%
ABS
Amortized cost
Fixed maturities without a single maturity date	$ 1,628,739	$ 1,712,236
Total	1,628,739	1,712,236
Fair value
Fixed maturities without a single maturity date (fair value)	1,622,480	1,720,078
Fair value	$ 1,622,480	$ 1,720,078
% of Total fair value
Fixed maturities without a single maturity date (% of total fair value)	13.20%	14.30%

INVESTMENTS - Gross unrealized

INVESTMENTS - Gross unrealized losses (Details) $ in Thousands	Dec. 31, 2021USD ($)security	Dec. 31, 2020USD ($)security
Fixed maturities, available for sale
Fair value
12 months or greater	$ 390,141	$ 436,616
Less than 12 months	6,197,689	1,020,397
Total	6,587,830	1,457,013
Unrealized losses
12 months or greater	(17,715)	(8,147)
Less than 12 months	(76,531)	(10,764)
Total	$ (94,246)	$ (18,911)
Number of positions in an unrealized loss | security	2,333	719
Continuous unrealized loss position | security	344	249
Fixed maturities, available for sale | Below Investment Grade or Not Rated
Unrealized losses
Total	$ (8,000)	$ (7,000)
U.S. government and agency
Fair value
12 months or greater	101,776	0
Less than 12 months	2,014,880	251,606
Total	2,116,656	251,606
Unrealized losses
12 months or greater	(4,852)	0
Less than 12 months	(15,795)	(1,759)
Total	(20,647)	(1,759)
Non-U.S. government
Fair value
12 months or greater	11,011	16,115
Less than 12 months	463,498	3,652
Total	474,509	19,767
Unrealized losses
12 months or greater	(1,830)	(262)
Less than 12 months	(7,855)	(166)
Total	(9,685)	(428)
Corporate debt
Fair value
12 months or greater	152,962	63,640
Less than 12 months	1,681,859	233,970
Total	1,834,821	297,610
Unrealized losses
12 months or greater	(6,542)	(2,244)
Less than 12 months	(31,570)	(4,114)
Total	(38,112)	(6,358)
Agency RMBS
Fair value
12 months or greater	41,024	6,580
Less than 12 months	503,988	78,672
Total	545,012	85,252
Unrealized losses
12 months or greater	(1,678)	(20)
Less than 12 months	(7,103)	(668)
Total	(8,781)	(688)
CMBS
Fair value
12 months or greater	30,128	19,736
Less than 12 months	347,515	70,656
Total	377,643	90,392
Unrealized losses
12 months or greater	(1,001)	(1,012)
Less than 12 months	(3,686)	(1,272)
Total	(4,687)	(2,284)
Non-agency RMBS
Fair value
12 months or greater	4,481	5,109
Less than 12 months	109,937	9,558
Total	114,418	14,667
Unrealized losses
12 months or greater	(523)	(598)
Less than 12 months	(1,500)	(80)
Total	(2,023)	(678)
ABS
Fair value
12 months or greater	43,466	325,436
Less than 12 months	1,040,363	360,402
Total	1,083,829	685,838
Unrealized losses
12 months or greater	(1,152)	(4,011)
Less than 12 months	(8,513)	(2,674)
Total	(9,665)	(6,685)
Municipals
Fair value
12 months or greater	5,293	0
Less than 12 months	35,649	11,881
Total	40,942	11,881
Unrealized losses
12 months or greater	(137)	0
Less than 12 months	(509)	(31)
Total	$ (646)	$ (31)

INVESTMENTS - Mortgage loans (D

INVESTMENTS - Mortgage loans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Mortgage loans held for investment:
Commercial	$ 594,088,000	$ 593,290,000
Total mortgage loans held for investment	$ 594,088,000	$ 593,290,000
Commercial, percent	100.00%	100.00%
Total mortgage loans held for investment, percent	100.00%	100.00%
Debt service coverage ratio, in excess of	2.5	2.4
Loan-to-value ratio, percent (less than)	60.00%	60.00%
Credit losses on commercial mortgage loans	$ 0	$ 0

INVESTMENTS - Other Investments

INVESTMENTS - Other Investments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)fund	Dec. 31, 2020USD ($)	Dec. 31, 2015USD ($)
Other Investments [Line Items]
Fair value	$ 947,982	$ 829,156
Percentage of total fair value	100.00%	100.00%
Unfunded commitments related to other investments	$ 649,000	$ 588,000
Long/short equity funds
Other Investments [Line Items]
Fair value	$ 3,476	$ 25,300
Percentage of total fair value	0.00%	3.00%
Redemption notice period	60 days	60 days
Multi-strategy funds
Other Investments [Line Items]
Fair value	$ 56,012	$ 121,420
Percentage of total fair value	6.00%	15.00%
Multi-strategy funds | Other Redemption Restriction
Other Investments [Line Items]
Redemption notice period	2 years
Unfunded commitments related to other investments	$ 23,000	$ 20,000
Multi-strategy funds | Minimum
Other Investments [Line Items]
Redemption notice period	60 days	60 days
Multi-strategy funds | Maximum
Other Investments [Line Items]
Redemption notice period	90 days	95 days
Direct lending funds
Other Investments [Line Items]
Fair value	$ 289,867	$ 272,131
Percentage of total fair value	31.00%	33.00%
Redemption notice period	90 days	90 days
Direct lending funds | Quarterly Redemption
Other Investments [Line Items]
Fair value	$ 47,000	$ 38,000
Number of funds | fund	1
Direct lending funds | Other Redemption Restriction
Other Investments [Line Items]
Unfunded commitments related to other investments	$ 224,000	151,000
Optional extension of investment term	3 years
Direct lending funds | Minimum | Other Redemption Restriction
Other Investments [Line Items]
Investment term	4 years
Direct lending funds | Maximum | Other Redemption Restriction
Other Investments [Line Items]
Investment term	10 years
Private equity funds
Other Investments [Line Items]
Fair value	$ 249,974	$ 124,706
Percentage of total fair value	26.00%	15.00%
Private equity funds | Other Redemption Restriction
Other Investments [Line Items]
Unfunded commitments related to other investments	$ 178,000	$ 166,000
Investment term	5 years
Real estate funds
Other Investments [Line Items]
Fair value	$ 238,222	$ 164,250
Percentage of total fair value	25.00%	20.00%
Redemption notice period	45 days	45 days
Real estate funds | Quarterly Redemption
Other Investments [Line Items]
Fair value	$ 73,000	$ 61,000
Number of funds | fund	1
Real estate funds | Other Redemption Restriction
Other Investments [Line Items]
Unfunded commitments related to other investments	$ 173,000	201,000
Real estate funds | Minimum | Other Redemption Restriction
Other Investments [Line Items]
Investment term	2 years
CLO-Equities
Other Investments [Line Items]
Fair value	$ 5,910	$ 6,173
Percentage of total fair value	1.00%	1.00%
Other privately held investments
Other Investments [Line Items]
Fair value	$ 104,521	$ 70,011
Percentage of total fair value	11.00%	8.00%
Overseas deposits
Other Investments [Line Items]
Fair value	$ 0	$ 45,165
Percentage of total fair value	0.00%	5.00%
Hedge funds | Lockup Redemption Restriction
Other Investments [Line Items]
Fair value of other investments subject to redemption restrictions	$ 3,000	$ 25,000
Percentage of fair value of other investments subject to redemption restrictions	6.00%	17.00%
Bank Revolver Opportunity Funds | Other Redemption Restriction
Other Investments [Line Items]
Unfunded commitments related to other investments			$ 50,000
Investment term	7 years
Optional extension of investment term	2 years

INVESTMENTS - Equity method inv

INVESTMENTS - Equity method investments (Details) - Harrington Reinsurance Holdings Limited $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments	$ 108
Equity method investment, ownership percentage	19.00%
Equity method investment, difference between carrying amount and underlying equity	$ 5

INVESTMENTS - Net Investment In

INVESTMENTS - Net Investment Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net Investment Income [Line Items]
Gross investment income	$ 479,252	$ 374,271	$ 503,172
Investment expenses	(24,951)	(24,670)	(24,600)
Net investment income	454,301	349,601	478,572
Fixed maturities, available for sale
Net Investment Income [Line Items]
Gross investment income	262,049	317,121	384,053
Other investments
Net Investment Income [Line Items]
Gross investment income	181,906	16,059	60,038
Equity securities
Net Investment Income [Line Items]
Gross investment income	12,752	9,328	10,434
Mortgage loans
Net Investment Income [Line Items]
Gross investment income	17,427	15,432	14,712
Cash and cash equivalents
Net Investment Income [Line Items]
Gross investment income	4,454	13,582	26,882
Short-term investments
Net Investment Income [Line Items]
Gross investment income	$ 664	$ 2,749	$ 7,053

INVESTMENTS - Net Investment ga

INVESTMENTS - Net Investment gains (losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Gross realized investment gains
Fixed maturities and short-term investments	$ 137,729	$ 186,726	$ 93,160
Equity securities	5,413	25,648	3,449
Gross realized investment gains	143,142	212,374	96,609
Gross realized investment losses
Fixed maturities and short-term investments	(42,613)	(94,607)	(56,515)
Equity securities	(696)	(5,840)	(323)
Gross realized investment losses	(43,309)	(100,447)	(56,838)
Allowance for expected credit losses	11	(323)	0
Impairment losses	(22)	(1,486)	0
OTTI losses	0	0	(6,984)
Change in fair value of investment derivatives	4,346	(2,434)	(1,823)
Net unrealized gains (losses) on equity securities	30,111	21,449	60,269
Total net investment gains	$ 134,279	$ 129,133	$ 91,233

INVESTMENTS - Credit loss table

INVESTMENTS - Credit loss table (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance at end of period	$ 323	$ 0	$ 0
Expected credit losses on securities where credit losses were not previously recognized	95	22,570	0
Additions (reductions) for expected credit losses on securities where credit losses were previously recognized	50	(11,542)	0
Impairments of securities which the Company intends to sell or more likely than not will be required to sell	0	0	0
Securities sold/redeemed/matured	(155)	(10,705)	0
Balance at end of period	$ 313	$ 323	$ 0

INVESTMENTS - OTTI recognized i

INVESTMENTS - OTTI recognized in earnings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net [Line Items]
Total OTTI recognized in net income	$ 0	$ 0	$ 6,984
Non-U.S. government
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net [Line Items]
Total OTTI recognized in net income	0	0	90
Corporate debt
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net [Line Items]
Total OTTI recognized in net income	0	0	6,894
CMBS
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net [Line Items]
Total OTTI recognized in net income	$ 0	$ 0	$ 0

INVESTMENTS - Securities narrat

INVESTMENTS - Securities narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Fair value	$ 12,313,200	$ 12,041,799
Non-U.S. government
Schedule Of Available For Sale Securities [Line Items]
Unrealized losses	9,685	428
Fair value	795,178	671,273
Non-U.S. government | Maximum
Schedule Of Available For Sale Securities [Line Items]
Unrealized losses		1,000
CMBS
Schedule Of Available For Sale Securities [Line Items]
Unrealized losses	4,687	2,284
Fair value	$ 1,248,191	$ 1,353,587
CMBS | Weighted average
Schedule Of Available For Sale Securities [Line Items]
Subordination percentage input for determining credit losses	37.00%	29.00%
Non-agency RMBS
Schedule Of Available For Sale Securities [Line Items]
Unrealized losses	$ 2,023	$ 678
Fair value	186,164	140,104
Non-agency RMBS | Prime
Schedule Of Available For Sale Securities [Line Items]
Fair value	87,000	85,000
Non-agency RMBS | Alt A
Schedule Of Available For Sale Securities [Line Items]
Fair value	$ 74,000	$ 23,000

INVESTMENTS - Restricted assets

INVESTMENTS - Restricted assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Restricted Investments [Line Items]
Collateral in Trust for inter-company agreements	$ 886,903	$ 1,153,157
Collateral for secured letter of credit facility	402,478	434,845
Funds at Lloyd's	936,862	1,155,832
Collateral in Trust for third-party agreements	2,412,882	1,903,274
Securities on deposit or in trust with regulatory authorities	729,072	265,959
Total restricted investments and cash	5,368,197	4,913,067
Syndicate 1686 | Debt And Equity Securities
Restricted Investments [Line Items]
Collateral in Trust for third-party agreements	507,000	297,000
Syndicate 1686 | Cash
Restricted Investments [Line Items]
Pledged cash for third party insurance and reinsurance agreements	$ 326,000	$ 178,000
Axis Corporate Capital UK Limited
Restricted Investments [Line Items]
Capital support, percentage	70.00%
Axis Corporate Capital UK Limited II
Restricted Investments [Line Items]
Capital support, percentage	30.00%

INVESTMENTS - Reverse repurchas

INVESTMENTS - Reverse repurchase agreements (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Value of reverse repurchase agreements	$ 0	$ 91,000,000
Minimum required collateral for reverse repurchase agreements, expressed as a percentage of loan principal	102.00%

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair value on a recurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	$ 12,313,200	$ 12,041,799
Equity securities	655,675	518,445
Other investments	947,982	829,156
Short-term investments	31,063	161,897
Derivative instruments	3,116	18,875
Total Assets	13,951,036	13,570,172
Derivative instruments	20,617	11,486
Cash-settled awards	9,091	13,273
Total Liabilities	29,708	24,759
U.S. government and agency
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	2,682,448	1,918,699
Non-U.S. government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	795,178	671,273
Corporate debt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	4,495,312	4,655,951
Agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	1,074,589	1,286,209
CMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	1,248,191	1,353,587
Non-agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	186,164	140,104
ABS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	1,622,480	1,720,078
Municipals
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	208,838	295,898
Common stocks
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	1,364	10,942
Preferred Shares
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	179	8,068
Exchange-traded funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	336,815	221,718
Bond mutual funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	317,317	277,717
Hedge funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	59,488	146,720
Direct lending funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	289,867	272,131
Private equity funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	249,974	124,706
Real estate funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	238,222	164,250
CLO-Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	5,910	6,173
Other privately held investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	104,521	70,011
Overseas deposits
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	45,165
Quoted prices in active markets for identical assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	2,632,541	1,861,240
Equity securities	338,358	240,728
Other investments	0	0
Short-term investments	0	0
Derivative instruments	0	0
Total Assets	2,970,899	2,101,968
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
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	2,632,541	1,861,240
Quoted prices in active markets for identical assets (Level 1) | Non-U.S. government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Quoted prices in active markets for identical assets (Level 1) | Corporate debt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Quoted prices in active markets for identical assets (Level 1) | Agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Quoted prices in active markets for identical assets (Level 1) | CMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Quoted prices in active markets for identical assets (Level 1) | Non-agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Quoted prices in active markets for identical assets (Level 1) | ABS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Quoted prices in active markets for identical assets (Level 1) | Municipals
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Quoted prices in active markets for identical assets (Level 1) | Common stocks
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	1,364	10,942
Quoted prices in active markets for identical assets (Level 1) | Preferred Shares
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	179	8,068
Quoted prices in active markets for identical assets (Level 1) | Exchange-traded funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	336,815	221,718
Quoted prices in active markets for identical assets (Level 1) | Bond mutual funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	0	0
Quoted prices in active markets for identical assets (Level 1) | Hedge funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | Direct lending funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | Private equity funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | Real estate funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | CLO-Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | Other privately held investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | Overseas deposits
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant other observable inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	9,637,765	10,165,650
Equity securities	317,317	277,717
Other investments	0	45,165
Short-term investments	31,063	161,897
Derivative instruments	3,116	18,875
Total Assets	9,989,261	10,669,304
Derivative instruments	14,987	2,364
Cash-settled awards	9,091	13,273
Total Liabilities	24,078	15,637
Significant other observable inputs (Level 2) | U.S. government and agency
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	49,907	57,459
Significant other observable inputs (Level 2) | Non-U.S. government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	795,178	671,273
Significant other observable inputs (Level 2) | Corporate debt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	4,452,418	4,653,447
Significant other observable inputs (Level 2) | Agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	1,074,589	1,286,209
Significant other observable inputs (Level 2) | CMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	1,248,191	1,351,847
Significant other observable inputs (Level 2) | Non-agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	186,164	140,104
Significant other observable inputs (Level 2) | ABS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	1,622,480	1,709,413
Significant other observable inputs (Level 2) | Municipals
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	208,838	295,898
Significant other observable inputs (Level 2) | Common stocks
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	0	0
Significant other observable inputs (Level 2) | Preferred Shares
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	0	0
Significant other observable inputs (Level 2) | Exchange-traded funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	0	0
Significant other observable inputs (Level 2) | Bond mutual funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	317,317	277,717
Significant other observable inputs (Level 2) | Hedge funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant other observable inputs (Level 2) | Direct lending funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant other observable inputs (Level 2) | Private equity funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant other observable inputs (Level 2) | Real estate funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant other observable inputs (Level 2) | CLO-Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant other observable inputs (Level 2) | Other privately held investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant other observable inputs (Level 2) | Overseas deposits
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	45,165
Significant unobservable inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	42,894	14,909
Equity securities	0	0
Other investments	110,431	76,184
Short-term investments	0	0
Derivative instruments	0	0
Total Assets	153,325	91,093
Derivative instruments	5,630	9,122
Cash-settled awards	0	0
Total Liabilities	5,630	9,122
Significant unobservable inputs (Level 3) | U.S. government and agency
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Significant unobservable inputs (Level 3) | Non-U.S. government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Significant unobservable inputs (Level 3) | Corporate debt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	42,894	2,504
Significant unobservable inputs (Level 3) | Agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Significant unobservable inputs (Level 3) | CMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	1,740
Significant unobservable inputs (Level 3) | Non-agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Significant unobservable inputs (Level 3) | ABS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	10,665
Significant unobservable inputs (Level 3) | Municipals
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities, available for sale	0	0
Significant unobservable inputs (Level 3) | Common stocks
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	0	0
Significant unobservable inputs (Level 3) | Preferred Shares
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	0	0
Significant unobservable inputs (Level 3) | Exchange-traded funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	0	0
Significant unobservable inputs (Level 3) | Bond mutual funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	0	0
Significant unobservable inputs (Level 3) | Hedge funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant unobservable inputs (Level 3) | Direct lending funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant unobservable inputs (Level 3) | Private equity funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant unobservable inputs (Level 3) | Real estate funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant unobservable inputs (Level 3) | CLO-Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	5,910	6,173
Significant unobservable inputs (Level 3) | Other privately held investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	104,521	70,011
Significant unobservable inputs (Level 3) | Overseas deposits
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Fair value based on NAV practical expedient
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	837,551	707,807
Total Assets	837,551	707,807
Fair value based on NAV practical expedient | Hedge funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	59,488	146,720
Fair value based on NAV practical expedient | Direct lending funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	289,867	272,131
Fair value based on NAV practical expedient | Private equity funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	249,974	124,706
Fair value based on NAV practical expedient | Real estate funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	238,222	164,250
Fair value based on NAV practical expedient | CLO-Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Fair value based on NAV practical expedient | Other privately held investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Fair value based on NAV practical expedient | Overseas deposits
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Level

FAIR VALUE MEASUREMENTS - Level 3 fair value inputs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value	$ 947,982	$ 829,156
Net derivative liability	(20,617)	(11,486)
Fixed maturities, available for sale	12,313,200	12,041,799
CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value	5,910	6,173
Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value	104,521	70,011
Significant unobservable inputs (Level 3)
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value	110,431	76,184
Net derivative liability	(5,630)	(9,122)
Fixed maturities, available for sale	42,894	14,909
Significant unobservable inputs (Level 3) | CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value	5,910	6,173
Significant unobservable inputs (Level 3) | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value	$ 104,521	$ 70,011
Significant unobservable inputs (Level 3) | Other privately held investments | Weighted average
Fair Value Inputs Assets Quantitative Information [Line Items]
Estimated maturity date (years)	3 years
Significant unobservable inputs (Level 3) | Other privately held investments | Minimum
Fair Value Inputs Assets Quantitative Information [Line Items]
Estimated maturity date (years)	2 years
Significant unobservable inputs (Level 3) | Other privately held investments | Maximum
Fair Value Inputs Assets Quantitative Information [Line Items]
Estimated maturity date (years)	4 years
Significant unobservable inputs (Level 3) | Discount rate
Fair Value Inputs Assets Quantitative Information [Line Items]
Derivative liability, measurement input	0.013
Significant unobservable inputs (Level 3) | Discount rate | Weighted average
Fair Value Inputs Assets Quantitative Information [Line Items]
Derivative liability, measurement input	0.013
Significant unobservable inputs (Level 3) | Discount rate | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.025
Significant unobservable inputs (Level 3) | Discount rate | Other privately held investments | Weighted average
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.025
Significant unobservable inputs (Level 3) | Default rate | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.005
Significant unobservable inputs (Level 3) | Default rate | Other privately held investments | Weighted average
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.005
Significant unobservable inputs (Level 3) | Loss absorption yield | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.010
Significant unobservable inputs (Level 3) | Loss absorption yield | Other privately held investments | Weighted average
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.010
Significant unobservable inputs (Level 3) | Valuation Technique, Discounted Cash Flow
Fair Value Inputs Assets Quantitative Information [Line Items]
Net derivative liability	$ (5,630)
Significant unobservable inputs (Level 3) | Valuation Technique, Discounted Cash Flow | CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value	$ 5,910
Estimated maturity date (years)	6 years
Significant unobservable inputs (Level 3) | Valuation Technique, Discounted Cash Flow | CLO-Equities | Weighted average
Fair Value Inputs Assets Quantitative Information [Line Items]
Estimated maturity date (years)	6 years
Significant unobservable inputs (Level 3) | Valuation Technique, Discounted Cash Flow | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value	$ 20,867
Significant unobservable inputs (Level 3) | Valuation Technique, Discounted Cash Flow | Default rate | CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.045
Significant unobservable inputs (Level 3) | Valuation Technique, Discounted Cash Flow | Default rate | CLO-Equities | Weighted average
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.045
Significant unobservable inputs (Level 3) | Valuation Technique, Discounted Cash Flow | Loss severity rate | CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.500
Significant unobservable inputs (Level 3) | Valuation Technique, Discounted Cash Flow | Loss severity rate | CLO-Equities | Weighted average
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.500
Significant unobservable inputs (Level 3) | Valuation Technique, Discounted Cash Flow | Collateral spread | CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.030
Significant unobservable inputs (Level 3) | Valuation Technique, Discounted Cash Flow | Collateral spread | CLO-Equities | Weighted average
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.030
Significant unobservable inputs (Level 3) | Valuation, Market Approach | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value	$ 84,000

FAIR VALUE MEASUREMENTS - Lev_2

FAIR VALUE MEASUREMENTS - Level 3 for financial instruments measured at fair value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	$ 91,093	$ 59,283
Transfers into Level 3	0	9,091
Transfers out of Level 3	(10,200)	0
Included in net income	45,472	23
Included in OCI	(594)	312
Purchases	63,560	28,006
Sales	(26,980)	0
Settlements/ distributions	(9,026)	(5,622)
Closing balance	153,325	91,093
Change in unrealized gain/(losses)	28,092	721
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	9,122	9,672
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in earnings	(2,742)	9,421
Included in OCI	0	0
Purchases	0	0
Sales	0	0
Settlements/ distributions	(750)	(9,971)
Closing balance	5,630	9,122
Change in unrealized gains/(losses)	(1,769)	(550)
Fixed maturities, available for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	14,909	8,021
Transfers into Level 3	0	9,091
Transfers out of Level 3	(10,200)	0
Included in net income	0	0
Included in OCI	(594)	312
Purchases	41,800	969
Sales	0	0
Settlements/ distributions	(3,021)	(3,484)
Closing balance	42,894	14,909
Change in unrealized gain/(losses)	0	0
Corporate debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	2,504	2,297
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	0	0
Included in OCI	(642)	207
Purchases	41,800	0
Sales	0	0
Settlements/ distributions	(768)	0
Closing balance	42,894	2,504
Change in unrealized gain/(losses)	0	0
CMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	1,740	5,235
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	0	0
Included in OCI	13	(11)
Purchases	0	0
Sales	0	0
Settlements/ distributions	(1,753)	(3,484)
Closing balance	0	1,740
Change in unrealized gain/(losses)	0	0
ABS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	10,665	489
Transfers into Level 3	0	9,091
Transfers out of Level 3	(10,200)	0
Included in net income	0	0
Included in OCI	35	116
Purchases	0	969
Sales	0	0
Settlements/ distributions	(500)	0
Closing balance	0	10,665
Change in unrealized gain/(losses)	0	0
Other investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	76,184	51,262
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	45,472	23
Included in OCI	0	0
Purchases	21,760	27,037
Sales	(26,980)	0
Settlements/ distributions	(6,005)	(2,138)
Closing balance	110,431	76,184
Change in unrealized gain/(losses)	28,092	721
CLO-Equities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	6,173	14,328
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	2,819	(6,017)
Included in OCI	0	0
Purchases	0	0
Sales	0	0
Settlements/ distributions	(3,082)	(2,138)
Closing balance	5,910	6,173
Change in unrealized gain/(losses)	2,819	(5,319)
Other privately held investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	70,011	36,934
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	42,653	6,040
Included in OCI	0	0
Purchases	21,760	27,037
Sales	(26,980)	0
Settlements/ distributions	(2,923)	0
Closing balance	104,521	70,011
Change in unrealized gain/(losses)	25,273	6,040
Derivative instruments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	9,122	9,672
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in earnings	(2,742)	9,421
Included in OCI	0	0
Purchases	0	0
Sales	0	0
Settlements/ distributions	(750)	(9,971)
Closing balance	5,630	9,122
Change in unrealized gains/(losses)	$ (1,769)	$ (550)

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized cost	$ 446,016	$ 0
Fair value	445,033	0
Reported Value Measurement
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	1,311,000	1,310,000
Estimate of Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	$ 1,453,000	$ 1,485,000

DERIVATIVE INSTRUMENTS - Balanc

DERIVATIVE INSTRUMENTS - Balance sheet classification of derivatives recorded at fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative asset fair value	$ 3,116	$ 18,875
Derivative liability fair value	20,617	11,486
Not Designated as Hedging Instruments | Other assets
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative asset fair value	3,116	18,875
Not Designated as Hedging Instruments | Other liabilities
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative liability fair value	20,617	11,486
Not Designated as Hedging Instruments | Relating to investment portfolio: | Foreign exchange forward contracts
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative notional amount	184,187	105,781
Not Designated as Hedging Instruments | Relating to investment portfolio: | Foreign exchange forward contracts | Other assets
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative asset fair value	13	2
Not Designated as Hedging Instruments | Relating to investment portfolio: | Foreign exchange forward contracts | Other liabilities
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative liability fair value	1,463	2,364
Not Designated as Hedging Instruments | Relating to underwriting portfolio: | Foreign exchange forward contracts
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative notional amount	1,258,836	1,197,012
Not Designated as Hedging Instruments | Relating to underwriting portfolio: | Foreign exchange forward contracts | Other assets
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative asset fair value	3,103	18,873
Not Designated as Hedging Instruments | Relating to underwriting portfolio: | Foreign exchange forward contracts | Other liabilities
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative liability fair value	13,524	0
Not Designated as Hedging Instruments | Relating to underwriting portfolio: | Other underwriting-related contracts
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative notional amount	50,000	75,000
Not Designated as Hedging Instruments | Relating to underwriting portfolio: | Other underwriting-related contracts | Other assets
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative asset fair value	0	0
Not Designated as Hedging Instruments | Relating to underwriting portfolio: | Other underwriting-related contracts | Other liabilities
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative liability fair value	$ 5,630	$ 9,122

DERIVATIVE INSTRUMENTS - Offset

DERIVATIVE INSTRUMENTS - Offsetting assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivative assets
Gross amounts	$ 9,047	$ 27,765
Gross amounts offset	(5,931)	(8,890)
Net Amounts	3,116	18,875
Derivative liabilities
Gross amounts	26,548	20,376
Gross amounts offset	(5,931)	(8,890)
Net Amounts	$ 20,617	$ 11,486

DERIVATIVE INSTRUMENTS - Unreal

DERIVATIVE INSTRUMENTS - Unrealized and realized gains (losses) recognized in earnings for derivatives (Details) - Not Designated as Hedging Instruments - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (losses) recognized in earnings for derivatives not designated as hedges	$ (43,650)	$ 32,697	$ (10,712)
Investment Portfolio | Foreign exchange forward contracts | Net investment gains (losses)
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (losses) recognized in earnings for derivatives not designated as hedges	4,346	(2,434)	1,854
Investment Portfolio | Interest rate swaps | Net investment gains (losses)
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (losses) recognized in earnings for derivatives not designated as hedges	0	0	(3,677)
Relating to underwriting portfolio: | Foreign exchange forward contracts | Foreign exchange gains (losses)
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (losses) recognized in earnings for derivatives not designated as hedges	(50,738)	44,166	(10,678)
Relating to underwriting portfolio: | Other underwriting-related contracts | Other insurance related income (losses)
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (losses) recognized in earnings for derivatives not designated as hedges	$ 2,742	$ (9,035)	$ 1,789

RESERVE FOR LOSSES AND LOSS E_3

RESERVE FOR LOSSES AND LOSS EXPENSES - Narrative (Details)	12 Months Ended
	Dec. 31, 2021	Aug. 05, 2019	Mar. 20, 2017	Mar. 19, 2017
Minimum
Claims Development [Line Items]
Development for an accident year or underwriting year, recognition period	1 year
Maximum
Claims Development [Line Items]
Development for an accident year or underwriting year, recognition period	3 years
Motor Reserve Class | Reinsurance
Claims Development [Line Items]
Discount rate		(0.25%)	(0.75%)	2.50%

RESERVE FOR LOSSES AND LOSS E_4

RESERVE FOR LOSSES AND LOSS EXPENSES - Reserve for losses and loss expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Insurance Loss Reserves [Abstract]
Reserve for reported losses and loss expenses	$ 5,539,971	$ 5,331,900
Reserve for losses incurred but not reported	9,113,123	8,594,866
Reserve for losses and loss expenses	$ 14,653,094	$ 13,926,766	$ 12,752,081	$ 12,280,769

RESERVE FOR LOSSES AND LOSS E_5

RESERVE FOR LOSSES AND LOSS EXPENSES - Reserve Roll-Forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Beginning and Ending Gross Unpaid Losses and Loss Expenses
Gross reserve for losses and loss expenses, beginning of year	$ 13,926,766	$ 12,752,081	$ 12,280,769
Less reinsurance recoverable on unpaid losses, beginning of year	(4,496,641)	(3,877,756)	(3,501,669)
Net reserve for unpaid losses and loss expenses, beginning of year	9,430,125	8,874,325	8,779,100
Net incurred losses and loss expenses related to:
Current year	3,041,193	3,297,161	3,123,698
Prior years	(32,410)	(15,909)	(78,900)
Net incurred losses and loss expenses	3,008,783	3,281,252	3,044,798
Net paid losses and loss expenses related to:
Current year	(490,011)	(571,442)	(598,988)
Prior years	(2,274,240)	(2,365,959)	(2,371,637)
Net paid losses and loss expenses	(2,764,251)	(2,937,401)	(2,970,625)
Foreign exchange and other	(39,174)	211,949	21,052
Net reserve for unpaid losses and loss expenses, end of year	9,635,483	9,430,125	8,874,325
Reinsurance recoverable on unpaid losses, end of year	5,017,611	4,496,641	3,877,756
Gross reserve for losses and loss expenses, end of year	$ 14,653,094	$ 13,926,766	$ 12,752,081

RESERVE FOR LOSSES AND LOSS E_6

RESERVE FOR LOSSES AND LOSS EXPENSES - Incurred losses narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 15, 2019	Dec. 31, 2018
Additional Information Related to Net Incurred Losses [Line Items]
Net losses and loss expenses, net of reinstatement premiums	$ 3,041,193	$ 3,297,161	$ 3,123,698
Reinsurance recoverable on unpaid claims	5,017,611	4,496,641	3,877,756		$ 3,501,669
Syndicate 2007
Additional Information Related to Net Incurred Losses [Line Items]
Policyholder benefits and claims incurred, assumed and ceded	49,000
Reinsurance recoverable on unpaid claims				$ 59,000
Catastrophe and Weather-related Events
Additional Information Related to Net Incurred Losses [Line Items]
Net losses and loss expenses, net of reinstatement premiums	$ 443,000	$ 774,000	$ 336,000

RESERVE FOR LOSSES AND LOSS E_7

RESERVE FOR LOSSES AND LOSS EXPENSES - Prior year development (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior year favorable (unfavorable) adjustments	$ 32,410	$ 15,909	$ 78,900
Insurance
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior year favorable (unfavorable) adjustments	18,360	8,937	53,302
Reinsurance
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior year favorable (unfavorable) adjustments	$ 14,049	$ 6,972	$ 25,598

RESERVE FOR LOSSES AND LOSS E_8

RESERVE FOR LOSSES AND LOSS EXPENSES - Prior year reserve development by segment, reserving class and accident year (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (unfavorable) adjustments	$ 32,410	$ 15,909	$ 78,900
Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (unfavorable) adjustments	18,360	8,937	53,302
Insurance | Property and other
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (unfavorable) adjustments	86,876	46,791	11,042
Insurance | Marine
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (unfavorable) adjustments	28,430	16,780	33,260
Insurance | Aviation
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (unfavorable) adjustments	14,106	6,416	3,741
Insurance | Credit and political risk
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (unfavorable) adjustments	10,363	(745)	18,810
Insurance | Professional lines
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (unfavorable) adjustments	(78,588)	(35,661)	11,721
Insurance | Liability
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (unfavorable) adjustments	(42,827)	(24,644)	(25,272)
Reinsurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (unfavorable) adjustments	14,049	6,972	25,598
Reinsurance | Property and other
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (unfavorable) adjustments	8,282	(5,935)	(133,448)
Reinsurance | Professional lines
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (unfavorable) adjustments	(23,718)	(15,352)	3,668
Reinsurance | Liability
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (unfavorable) adjustments	(17,919)	(29,656)	31,283
Reinsurance | Credit and surety
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (unfavorable) adjustments	3,436	36,829	53,223
Reinsurance | Motor
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (unfavorable) adjustments	$ 43,968	$ 21,086	$ 70,872

RESERVE FOR LOSSES AND LOSS E_9

RESERVE FOR LOSSES AND LOSS EXPENSES - Incurred claims and allocated claim adjustment expenses, net of reinsurance (Details) $ in Thousands	Dec. 31, 2021USD ($)claim	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)
Insurance | Property and other
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 4,695,381
Insurance | Property and other | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	335,903	$ 342,406	$ 342,723	$ 352,761	$ 353,602	$ 359,326	$ 363,521	$ 383,920	$ 402,013	$ 392,832
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 8
Cumulative number of reported claims | claim	29,793
Insurance | Property and other | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 276,632	275,403	275,919	279,588	269,153	269,504	273,448	300,371	310,545
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,069
Cumulative number of reported claims | claim	53,020
Insurance | Property and other | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 319,317	322,723	327,406	329,003	330,094	346,144	356,814	362,013
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 2,739
Cumulative number of reported claims | claim	62,221
Insurance | Property and other | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 245,590	256,252	254,221	257,068	261,501	272,498	279,805
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 988
Cumulative number of reported claims | claim	48,317
Insurance | Property and other | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 355,523	352,464	358,721	371,911	380,615	353,241
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 3,631
Cumulative number of reported claims | claim	93,582
Insurance | Property and other | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 807,759	811,219	822,660	830,525	905,430
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 3,783
Cumulative number of reported claims | claim	698,013
Insurance | Property and other | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 754,009	764,189	784,554	725,996
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 17,643
Cumulative number of reported claims | claim	740,146
Insurance | Property and other | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 437,227	446,574	451,522
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 17,971
Cumulative number of reported claims | claim	674,310
Insurance | Property and other | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 711,366	741,881
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 97,496
Cumulative number of reported claims | claim	699,571
Insurance | Property and other | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 452,055
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 121,860
Cumulative number of reported claims | claim	293,463
Insurance | Marine
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 1,239,840
Insurance | Marine | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	64,686	65,122	62,100	72,698	74,541	72,020	71,000	68,936	83,026	89,643
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 2,932
Cumulative number of reported claims | claim	4,135
Insurance | Marine | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 80,797	79,950	80,781	81,822	82,261	97,010	95,940	100,613	79,514
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,218
Cumulative number of reported claims | claim	2,356
Insurance | Marine | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 38,112	40,617	46,932	45,634	44,152	48,205	44,469	59,719
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 2,693
Cumulative number of reported claims | claim	2,169
Insurance | Marine | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 122,084	121,677	116,686	128,687	135,999	140,502	159,499
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,057
Cumulative number of reported claims | claim	2,232
Insurance | Marine | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 68,897	69,814	71,066	76,441	78,726	86,403
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 2,105
Cumulative number of reported claims | claim	2,867
Insurance | Marine | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 154,218	163,222	167,118	169,508	206,441
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 12,183
Cumulative number of reported claims | claim	4,038
Insurance | Marine | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 185,628	191,806	203,260	182,358
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 27,926
Cumulative number of reported claims | claim	4,426
Insurance | Marine | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 171,244	167,184	169,706
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 29,024
Cumulative number of reported claims | claim	4,668
Insurance | Marine | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 155,167	171,330
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 55,833
Cumulative number of reported claims | claim	4,491
Insurance | Marine | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 199,007
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 130,108
Cumulative number of reported claims | claim	3,447
Insurance | Aviation
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 341,659
Insurance | Aviation | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	7,205	7,302	7,383	7,590	7,703	7,760	8,709	10,795	10,670	12,782
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 36
Cumulative number of reported claims | claim	886
Insurance | Aviation | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 16,451	16,670	16,763	15,471	15,586	15,249	15,207	16,334	15,654
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 260
Cumulative number of reported claims | claim	1,043
Insurance | Aviation | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 16,716	17,350	19,097	21,857	21,798	24,357	23,038	20,437
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 121
Cumulative number of reported claims | claim	1,374
Insurance | Aviation | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 27,517	28,001	27,522	29,579	29,845	28,512	29,786
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 179
Cumulative number of reported claims | claim	2,053
Insurance | Aviation | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 32,545	32,473	31,745	33,679	33,517	29,180
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 325
Cumulative number of reported claims | claim	1,945
Insurance | Aviation | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 69,799	68,549	66,263	61,524	55,401
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ (458)
Cumulative number of reported claims | claim	4,466
Insurance | Aviation | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 61,338	61,678	63,348	57,877
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 2,610
Cumulative number of reported claims | claim	4,214
Insurance | Aviation | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 41,123	41,658	44,106
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 2,003
Cumulative number of reported claims | claim	2,778
Insurance | Aviation | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 25,380	37,391
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 6,355
Cumulative number of reported claims | claim	1,584
Insurance | Aviation | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 43,585
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 22,283
Cumulative number of reported claims | claim	1,268
Insurance | Credit and political risk
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 362,144
Insurance | Credit and political risk | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	49	199	199	199	47	10,322	12,447	12,435	15,672	32,602
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 5
Cumulative number of reported claims | claim	4
Insurance | Credit and political risk | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 12,614	12,739	12,377	14,067	14,942	9,880	9,759	25,684	26,439
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 462
Cumulative number of reported claims | claim	2
Insurance | Credit and political risk | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 69,113	70,747	71,275	69,589	68,324	67,109	70,713	38,825
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 0
Cumulative number of reported claims | claim	6
Insurance | Credit and political risk | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 24,189	24,851	25,930	26,012	27,524	30,368	30,329
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 880
Cumulative number of reported claims | claim	2
Insurance | Credit and political risk | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 25,597	26,577	42,792	42,221	44,711	45,760
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,081
Cumulative number of reported claims | claim	1
Insurance | Credit and political risk | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 17,592	19,804	27,634	33,148	48,555
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 8,590
Cumulative number of reported claims | claim	3
Insurance | Credit and political risk | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 27,656	35,546	36,562	43,738
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 13,354
Cumulative number of reported claims | claim	2
Insurance | Credit and political risk | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 73,471	79,778	51,407
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 16,248
Cumulative number of reported claims | claim	19
Insurance | Credit and political risk | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 69,263	60,927
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 31,314
Cumulative number of reported claims | claim	37
Insurance | Credit and political risk | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 42,600
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 39,624
Cumulative number of reported claims | claim	8
Insurance | Professional lines
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 4,051,257
Insurance | Professional lines | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	337,000	334,321	352,476	354,414	365,781	363,769	376,619	377,681	376,334	329,064
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 20,571
Cumulative number of reported claims | claim	8,348
Insurance | Professional lines | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 335,453	339,108	335,888	357,807	355,419	366,094	399,307	398,008	384,382
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 36,146
Cumulative number of reported claims | claim	9,473
Insurance | Professional lines | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 351,729	348,326	354,972	372,390	392,916	422,079	412,262	413,511
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 51,739
Cumulative number of reported claims | claim	9,858
Insurance | Professional lines | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 329,377	328,723	345,416	358,613	383,614	377,970	378,217
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 47,302
Cumulative number of reported claims | claim	10,532
Insurance | Professional lines | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 374,148	370,847	360,698	359,176	352,753	350,015
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 58,192
Cumulative number of reported claims | claim	11,909
Insurance | Professional lines | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 453,259	436,589	440,090	398,881	394,239
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 103,291
Cumulative number of reported claims | claim	13,870
Insurance | Professional lines | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 460,903	433,040	379,463	363,496
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 130,876
Cumulative number of reported claims | claim	16,765
Insurance | Professional lines | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 467,030	428,019	406,170
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 206,644
Cumulative number of reported claims | claim	16,954
Insurance | Professional lines | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 432,895	440,967
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 283,686
Cumulative number of reported claims | claim	11,622
Insurance | Professional lines | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 509,463
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 448,897
Cumulative number of reported claims | claim	8,271
Insurance | Liability
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 1,690,248
Insurance | Liability | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	61,993	64,542	67,238	72,727	75,698	68,658	71,474	74,135	71,690	70,859
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 10,249
Cumulative number of reported claims | claim	3,355
Insurance | Liability | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 94,201	89,902	91,943	95,983	93,682	88,243	95,175	95,309	93,234
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 13,218
Cumulative number of reported claims | claim	3,690
Insurance | Liability | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 132,064	132,585	131,477	132,021	130,674	129,774	124,313	107,136
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 14,321
Cumulative number of reported claims | claim	5,265
Insurance | Liability | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 187,146	188,218	182,891	165,160	137,652	127,424	128,437
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 26,055
Cumulative number of reported claims | claim	6,390
Insurance | Liability | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 120,309	120,333	127,572	128,940	130,209	124,322
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 27,993
Cumulative number of reported claims | claim	7,208
Insurance | Liability | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 206,833	202,508	185,998	165,661	167,803
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 36,274
Cumulative number of reported claims | claim	8,471
Insurance | Liability | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 205,961	192,289	169,241	168,202
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 51,462
Cumulative number of reported claims | claim	8,292
Insurance | Liability | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 222,820	193,526	192,358
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 83,628
Cumulative number of reported claims | claim	7,567
Insurance | Liability | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 225,866	225,407
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 171,715
Cumulative number of reported claims | claim	5,285
Insurance | Liability | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 233,055
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 198,167
Cumulative number of reported claims | claim	4,171
Reinsurance | Property and other
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 7,234,581
Reinsurance | Property and other | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	451,567	454,280	454,701	457,952	456,536	461,542	477,396	508,032	523,613	555,785
Total of incurred-but-not-reported liabilities plus expected development on reported claims	81
Reinsurance | Property and other | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	497,825	500,490	501,123	504,433	504,945	510,944	531,304	562,186	580,230
Total of incurred-but-not-reported liabilities plus expected development on reported claims	585
Reinsurance | Property and other | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	481,788	481,582	484,443	485,213	487,065	499,636	525,809	542,903
Total of incurred-but-not-reported liabilities plus expected development on reported claims	3,587
Reinsurance | Property and other | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	453,142	456,549	451,295	455,252	460,576	465,733	478,050
Total of incurred-but-not-reported liabilities plus expected development on reported claims	1,568
Reinsurance | Property and other | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	623,977	622,706	620,858	624,507	637,746	618,765
Total of incurred-but-not-reported liabilities plus expected development on reported claims	8,053
Reinsurance | Property and other | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	1,105,803	1,110,521	1,103,419	1,080,897	1,099,195
Total of incurred-but-not-reported liabilities plus expected development on reported claims	40,302
Reinsurance | Property and other | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	1,019,138	1,014,311	1,010,076	884,369
Total of incurred-but-not-reported liabilities plus expected development on reported claims	44,435
Reinsurance | Property and other | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	924,338	949,822	951,665
Total of incurred-but-not-reported liabilities plus expected development on reported claims	78,420
Reinsurance | Property and other | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	893,869	859,634
Total of incurred-but-not-reported liabilities plus expected development on reported claims	163,285
Reinsurance | Property and other | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	783,134
Total of incurred-but-not-reported liabilities plus expected development on reported claims	425,137
Reinsurance | Professional lines
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	1,884,136
Reinsurance | Professional lines | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	205,581	203,653	207,151	214,341	212,941	222,937	224,214	221,821	216,364	209,815
Total of incurred-but-not-reported liabilities plus expected development on reported claims	8,110
Reinsurance | Professional lines | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	165,978	169,783	182,005	206,226	213,590	214,075	215,862	214,662	209,516
Total of incurred-but-not-reported liabilities plus expected development on reported claims	8,416
Reinsurance | Professional lines | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	227,369	229,236	230,376	233,896	219,509	219,552	219,610	219,544
Total of incurred-but-not-reported liabilities plus expected development on reported claims	5,971
Reinsurance | Professional lines | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	236,208	229,418	232,164	225,365	214,606	212,226	212,183
Total of incurred-but-not-reported liabilities plus expected development on reported claims	19,277
Reinsurance | Professional lines | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	256,242	256,207	228,398	200,309	196,480	195,328
Total of incurred-but-not-reported liabilities plus expected development on reported claims	32,832
Reinsurance | Professional lines | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	189,356	179,072	162,447	156,019	155,335
Total of incurred-but-not-reported liabilities plus expected development on reported claims	35,316
Reinsurance | Professional lines | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	167,128	156,429	149,373	146,729
Total of incurred-but-not-reported liabilities plus expected development on reported claims	47,916
Reinsurance | Professional lines | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	143,214	139,131	139,177
Total of incurred-but-not-reported liabilities plus expected development on reported claims	68,827
Reinsurance | Professional lines | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	143,135	141,974
Total of incurred-but-not-reported liabilities plus expected development on reported claims	105,608
Reinsurance | Professional lines | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	149,925
Total of incurred-but-not-reported liabilities plus expected development on reported claims	131,625
Reinsurance | Liability
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	2,427,680
Reinsurance | Liability | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	163,062	160,665	158,528	164,524	171,269	173,827	172,661	167,715	163,315	166,836
Total of incurred-but-not-reported liabilities plus expected development on reported claims	11,222
Reinsurance | Liability | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	154,459	156,069	157,366	177,391	184,252	184,591	182,564	175,587	171,714
Total of incurred-but-not-reported liabilities plus expected development on reported claims	12,187
Reinsurance | Liability | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	183,909	188,082	197,580	199,736	200,935	205,011	203,282	199,798
Total of incurred-but-not-reported liabilities plus expected development on reported claims	19,068
Reinsurance | Liability | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	203,913	214,132	214,011	216,257	216,437	215,460	215,061
Total of incurred-but-not-reported liabilities plus expected development on reported claims	28,578
Reinsurance | Liability | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	268,888	264,749	254,716	251,424	246,322	240,882
Total of incurred-but-not-reported liabilities plus expected development on reported claims	50,187
Reinsurance | Liability | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	299,740	290,024	280,632	271,104	275,897
Total of incurred-but-not-reported liabilities plus expected development on reported claims	73,074
Reinsurance | Liability | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	288,528	275,980	270,527	265,519
Total of incurred-but-not-reported liabilities plus expected development on reported claims	90,968
Reinsurance | Liability | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	275,176	273,309	263,805
Total of incurred-but-not-reported liabilities plus expected development on reported claims	135,114
Reinsurance | Liability | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	285,083	284,232
Total of incurred-but-not-reported liabilities plus expected development on reported claims	189,324
Reinsurance | Liability | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	304,922
Total of incurred-but-not-reported liabilities plus expected development on reported claims	265,558
Reinsurance | Credit and surety
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	1,061,038
Reinsurance | Credit and surety | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	122,058	123,383	125,625	128,662	132,213	140,246	148,622	151,401	148,841	158,822
Total of incurred-but-not-reported liabilities plus expected development on reported claims	1,642
Reinsurance | Credit and surety | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	127,065	128,319	125,497	125,376	136,675	140,863	144,733	153,538	165,106
Total of incurred-but-not-reported liabilities plus expected development on reported claims	2,445
Reinsurance | Credit and surety | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	122,149	123,430	127,133	128,434	139,862	143,576	136,403	137,007
Total of incurred-but-not-reported liabilities plus expected development on reported claims	990
Reinsurance | Credit and surety | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	140,788	139,565	138,575	157,491	161,575	166,772	160,874
Total of incurred-but-not-reported liabilities plus expected development on reported claims	3,998
Reinsurance | Credit and surety | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	114,123	116,440	124,115	149,807	141,963	142,299
Total of incurred-but-not-reported liabilities plus expected development on reported claims	2,592
Reinsurance | Credit and surety | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	116,204	118,941	127,691	133,506	139,346
Total of incurred-but-not-reported liabilities plus expected development on reported claims	6,021
Reinsurance | Credit and surety | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	112,859	115,905	121,246	112,256
Total of incurred-but-not-reported liabilities plus expected development on reported claims	13,156
Reinsurance | Credit and surety | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	69,399	69,366	75,066
Total of incurred-but-not-reported liabilities plus expected development on reported claims	10,705
Reinsurance | Credit and surety | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	84,115	77,354
Total of incurred-but-not-reported liabilities plus expected development on reported claims	40,625
Reinsurance | Credit and surety | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	52,278
Total of incurred-but-not-reported liabilities plus expected development on reported claims	36,571
Reinsurance | Motor
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	2,413,741
Reinsurance | Motor | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	125,068	129,001	128,719	136,989	139,917	149,527	154,440	162,106	173,749	$ 182,633
Total of incurred-but-not-reported liabilities plus expected development on reported claims	9,380
Reinsurance | Motor | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	121,852	125,709	128,823	137,925	140,724	144,202	153,715	165,656	$ 167,165
Total of incurred-but-not-reported liabilities plus expected development on reported claims	5,645
Reinsurance | Motor | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	171,540	171,880	175,289	178,705	183,176	185,889	190,577	$ 187,744
Total of incurred-but-not-reported liabilities plus expected development on reported claims	4,531
Reinsurance | Motor | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	216,102	219,179	220,530	232,237	230,494	226,222	$ 228,839
Total of incurred-but-not-reported liabilities plus expected development on reported claims	8,044
Reinsurance | Motor | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	253,527	256,311	264,703	275,311	273,424	$ 252,697
Total of incurred-but-not-reported liabilities plus expected development on reported claims	7,507
Reinsurance | Motor | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	377,449	377,101	377,357	388,304	$ 375,025
Total of incurred-but-not-reported liabilities plus expected development on reported claims	26,571
Reinsurance | Motor | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	380,446	384,410	372,104	$ 368,844
Total of incurred-but-not-reported liabilities plus expected development on reported claims	42,305
Reinsurance | Motor | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	349,747	348,877	$ 349,016
Total of incurred-but-not-reported liabilities plus expected development on reported claims	51,861
Reinsurance | Motor | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	229,582	$ 225,728
Total of incurred-but-not-reported liabilities plus expected development on reported claims	71,686
Reinsurance | Motor | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	188,428
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 111,017

RESERVE FOR LOSSES AND LOSS _10

RESERVE FOR LOSSES AND LOSS EXPENSES - Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Claims Development [Line Items]
Liabilities for claims and claim adjustment expenses, net of reinsurance	$ 9,576,302
Insurance
Claims Development [Line Items]
Liabilities for claims and claim adjustment expenses, net of reinsurance	4,178,193
Insurance | Property and other
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	4,013,886
All outstanding liabilities before 2012, net of reinsurance	7,291
Liabilities for claims and claim adjustment expenses, net of reinsurance	688,786
Insurance | Property and other | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	316,722	$ 316,614	$ 316,388	$ 314,282	$ 314,210	$ 309,042	$ 301,512	$ 278,538	$ 214,440	$ 77,684
Insurance | Property and other | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	273,752	269,290	265,442	263,605	260,576	249,534	238,483	199,585	76,142
Insurance | Property and other | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	316,319	316,305	319,601	318,414	314,197	307,040	260,405	133,186
Insurance | Property and other | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	242,516	250,620	243,895	243,213	228,910	204,138	100,169
Insurance | Property and other | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	348,739	341,693	340,568	332,043	292,009	125,806
Insurance | Property and other | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	773,007	775,507	745,770	629,722	256,234
Insurance | Property and other | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	699,094	685,681	585,855	288,200
Insurance | Property and other | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	382,521	328,183	197,452
Insurance | Property and other | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	486,815	220,838
Insurance | Property and other | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	174,401
Insurance | Marine
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	815,231
All outstanding liabilities before 2012, net of reinsurance	5,859
Liabilities for claims and claim adjustment expenses, net of reinsurance	430,468
Insurance | Marine | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	58,122	55,830	55,654	54,621	52,631	50,284	49,474	44,734	38,466	10,706
Insurance | Marine | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	79,163	77,937	76,660	76,517	65,493	62,825	54,648	43,866	18,873
Insurance | Marine | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	35,155	41,344	40,256	35,631	26,682	26,542	15,154	6,362
Insurance | Marine | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	120,216	113,293	111,761	110,367	107,512	54,640	21,446
Insurance | Marine | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	65,143	64,019	63,245	57,267	31,822	12,490
Insurance | Marine | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	122,148	115,634	91,342	67,622	14,634
Insurance | Marine | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	126,986	115,600	85,409	26,752
Insurance | Marine | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	116,160	75,653	36,293
Insurance | Marine | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	72,095	38,554
Insurance | Marine | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	20,043
Insurance | Aviation
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	257,964
All outstanding liabilities before 2012, net of reinsurance	4,508
Liabilities for claims and claim adjustment expenses, net of reinsurance	88,203
Insurance | Aviation | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	7,098	7,091	7,093	7,157	7,044	6,823	5,950	4,153	2,863	956
Insurance | Aviation | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	15,974	15,948	14,487	14,170	13,561	11,450	9,748	7,330	4,401
Insurance | Aviation | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	15,086	15,027	14,856	14,493	13,856	11,698	8,028	3,989
Insurance | Aviation | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	26,107	25,993	24,686	23,227	20,968	16,166	8,086
Insurance | Aviation | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	29,926	29,074	27,838	26,274	19,289	10,416
Insurance | Aviation | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	61,312	58,920	50,585	40,035	21,176
Insurance | Aviation | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	50,347	47,287	40,068	21,235
Insurance | Aviation | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	31,628	28,771	18,052
Insurance | Aviation | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	12,954	6,324
Insurance | Aviation | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	7,532
Insurance | Credit and political risk
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	302,288
All outstanding liabilities before 2012, net of reinsurance	(874)
Liabilities for claims and claim adjustment expenses, net of reinsurance	58,982
Insurance | Credit and political risk | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	44	44	44	44	42	40	0	0	0	0
Insurance | Credit and political risk | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	12,151	13,828	13,828	13,828	11,769	5,216	3,726	2,235	745
Insurance | Credit and political risk | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	70,224	70,224	64,051	57,858	57,858	61,108	39,952	1,924
Insurance | Credit and political risk | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	23,309	23,309	23,309	23,309	23,309	23,309	0
Insurance | Credit and political risk | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	24,516	24,516	24,516	24,516	24,516	0
Insurance | Credit and political risk | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	11,252	12,034	9,529	4,173	421
Insurance | Credit and political risk | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	12,432	15,971	13,897	5,552
Insurance | Credit and political risk | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	54,239	46,924	16,431
Insurance | Credit and political risk | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	91,352	10,013
Insurance | Credit and political risk | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	2,769
Insurance | Professional lines
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	2,155,119
All outstanding liabilities before 2012, net of reinsurance	113,232
Liabilities for claims and claim adjustment expenses, net of reinsurance	2,009,370
Insurance | Professional lines | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	304,095	298,902	282,494	274,150	254,682	231,582	184,776	100,434	41,505	7,825
Insurance | Professional lines | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	291,767	277,239	264,537	243,890	213,979	176,433	130,081	73,251	17,718
Insurance | Professional lines | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	277,463	253,387	243,586	224,461	192,845	130,348	70,688	23,579
Insurance | Professional lines | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	258,963	243,082	204,121	170,009	138,136	67,886	20,291
Insurance | Professional lines | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	261,321	234,825	192,832	147,678	71,229	15,913
Insurance | Professional lines | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	240,455	206,193	139,143	71,877	21,052
Insurance | Professional lines | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	222,374	155,101	82,982	20,945
Insurance | Professional lines | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	169,088	99,158	28,206
Insurance | Professional lines | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	95,558	26,640
Insurance | Professional lines | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	34,035
Insurance | Liability
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	849,499
All outstanding liabilities before 2012, net of reinsurance	61,635
Liabilities for claims and claim adjustment expenses, net of reinsurance	902,384
Insurance | Liability | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	48,505	48,316	48,034	46,541	42,740	37,139	30,145	15,411	5,514	1,631
Insurance | Liability | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	78,023	73,314	71,983	66,964	60,005	42,051	33,320	23,281	2,360
Insurance | Liability | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	106,215	103,050	93,576	84,376	71,596	49,839	18,643	1,414
Insurance | Liability | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	150,848	141,002	120,313	92,744	39,702	22,444	5,438
Insurance | Liability | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	79,594	66,371	56,455	36,382	23,289	6,323
Insurance | Liability | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	144,267	116,157	59,306	29,610	5,561
Insurance | Liability | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	119,446	72,398	34,931	9,460
Insurance | Liability | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	83,943	39,986	7,887
Insurance | Liability | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	25,245	8,163
Insurance | Liability | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	13,413
Reinsurance
Claims Development [Line Items]
Liabilities for claims and claim adjustment expenses, net of reinsurance	5,398,109
Reinsurance | Property and other
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	5,601,878
All outstanding liabilities before 2012, net of reinsurance	20,247
Liabilities for claims and claim adjustment expenses, net of reinsurance	1,652,950
Reinsurance | Property and other | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	434,420	430,468	428,889	416,360	414,306	404,621	390,051	367,575	294,809	122,945
Reinsurance | Property and other | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	487,971	484,128	484,429	483,785	482,360	472,619	442,216	325,596	107,774
Reinsurance | Property and other | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	468,080	461,202	463,976	458,981	452,832	435,322	353,313	102,421
Reinsurance | Property and other | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	436,720	420,783	414,291	401,731	369,339	266,150	71,550
Reinsurance | Property and other | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	592,193	584,602	565,778	522,648	378,387	128,812
Reinsurance | Property and other | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	965,116	938,025	866,481	723,271	252,454
Reinsurance | Property and other | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	859,649	793,481	646,904	196,679
Reinsurance | Property and other | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	708,467	590,010	162,093
Reinsurance | Property and other | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	483,680	209,072
Reinsurance | Property and other | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	165,582
Reinsurance | Professional lines
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	983,485
All outstanding liabilities before 2012, net of reinsurance	68,013
Liabilities for claims and claim adjustment expenses, net of reinsurance	968,664
Reinsurance | Professional lines | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	165,580	155,739	146,093	132,030	107,351	86,064	53,696	29,657	10,404	778
Reinsurance | Professional lines | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	133,276	128,867	123,498	105,054	81,721	65,027	30,544	12,089	1,066
Reinsurance | Professional lines | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	178,781	159,081	147,361	109,356	74,640	48,891	13,079	2,019
Reinsurance | Professional lines | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	152,907	132,153	112,030	79,285	41,565	13,506	3,134
Reinsurance | Professional lines | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	154,200	125,448	95,450	52,689	20,566	1,771
Reinsurance | Professional lines | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	89,223	62,975	39,960	14,961	2,814
Reinsurance | Professional lines | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	57,170	31,352	2,616	271
Reinsurance | Professional lines | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	33,902	13,696	371
Reinsurance | Professional lines | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	14,109	3,825
Reinsurance | Professional lines | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	4,337
Reinsurance | Liability
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	1,139,199
All outstanding liabilities before 2012, net of reinsurance	114,137
Liabilities for claims and claim adjustment expenses, net of reinsurance	1,402,618
Reinsurance | Liability | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	136,365	134,357	126,071	115,695	101,234	78,291	58,815	28,392	12,803	3,541
Reinsurance | Liability | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	128,124	123,710	113,154	102,617	88,280	69,069	52,338	22,242	5,974
Reinsurance | Liability | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	137,659	130,304	110,095	89,502	70,214	48,445	28,672	7,094
Reinsurance | Liability | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	141,808	131,010	109,056	80,911	54,556	27,460	7,271
Reinsurance | Liability | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	167,276	143,293	112,028	69,655	37,742	11,884
Reinsurance | Liability | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	159,265	121,223	78,771	42,227	12,477
Reinsurance | Liability | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	128,405	85,510	50,121	19,361
Reinsurance | Liability | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	80,066	45,415	19,326
Reinsurance | Liability | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	49,233	16,950
Reinsurance | Liability | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	10,998
Reinsurance | Credit and surety
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	833,062
All outstanding liabilities before 2012, net of reinsurance	21,326
Liabilities for claims and claim adjustment expenses, net of reinsurance	249,302
Reinsurance | Credit and surety | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	113,870	114,809	114,392	112,430	111,111	109,335	105,808	99,969	85,902	49,736
Reinsurance | Credit and surety | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	113,741	115,494	113,284	108,318	106,422	98,755	92,165	77,279	32,474
Reinsurance | Credit and surety | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	108,039	108,232	107,724	103,309	95,711	86,580	61,490	35,632
Reinsurance | Credit and surety | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	123,907	123,042	119,333	117,426	100,347	82,167	32,944
Reinsurance | Credit and surety | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	102,153	103,591	102,465	92,792	73,643	42,110
Reinsurance | Credit and surety | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	101,047	102,901	91,162	74,473	37,387
Reinsurance | Credit and surety | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	85,470	73,748	69,040	39,079
Reinsurance | Credit and surety | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	46,028	31,841	19,382
Reinsurance | Credit and surety | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	34,330	25,386
Reinsurance | Credit and surety | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	4,477
Reinsurance | Motor
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	1,519,752
All outstanding liabilities before 2012, net of reinsurance	230,586
Liabilities for claims and claim adjustment expenses, net of reinsurance	1,124,575
Reinsurance | Motor | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	97,432	86,130	94,827	93,594	91,200	86,965	80,217	70,098	54,803	$ 29,565
Reinsurance | Motor | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	99,978	86,532	95,445	92,307	86,524	80,600	70,078	55,392	$ 34,395
Reinsurance | Motor | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	143,954	122,682	126,849	116,724	106,072	97,479	76,923	$ 43,918
Reinsurance | Motor | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	177,260	154,002	152,558	135,958	118,018	96,745	$ 58,581
Reinsurance | Motor | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	191,945	166,826	152,721	133,970	108,670	$ 61,686
Reinsurance | Motor | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	232,316	208,687	171,933	139,560	$ 73,425
Reinsurance | Motor | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	227,804	215,555	148,084	$ 85,158
Reinsurance | Motor | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	206,602	186,943	$ 90,829
Reinsurance | Motor | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	100,288	$ 44,268
Reinsurance | Motor | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	$ 42,173

RESERVE FOR LOSSES AND LOSS _11

RESERVE FOR LOSSES AND LOSS EXPENSES - Average annual percentage payout of incurred claims by age, net of reinsurance (Details)	Dec. 31, 2021
Insurance | Property and other
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	35.30%
Year 2	40.80%
Year 3	13.70%
Year 4	3.80%
Year 5	1.30%
Year 6	1.50%
Year 7	(0.90%)
Year 8	0.70%
Year 9	0.90%
Year 10	0.00%
Insurance | Marine
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	17.20%
Year 2	29.20%
Year 3	23.60%
Year 4	7.20%
Year 5	5.80%
Year 6	6.40%
Year 7	3.00%
Year 8	(4.30%)
Year 9	0.90%
Year 10	3.50%
Insurance | Aviation
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	27.60%
Year 2	26.10%
Year 3	15.90%
Year 4	11.10%
Year 5	6.90%
Year 6	3.30%
Year 7	1.20%
Year 8	2.80%
Year 9	0.10%
Year 10	0.10%
Insurance | Credit and political risk
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	7.50%
Year 2	52.20%
Year 3	11.30%
Year 4	1.20%
Year 5	21.50%
Year 6	5.90%
Year 7	3.30%
Year 8	0.00%
Year 9	(6.70%)
Year 10	0.00%
Insurance | Professional lines
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	5.30%
Year 2	13.90%
Year 3	17.30%
Year 4	15.40%
Year 5	10.60%
Year 6	8.00%
Year 7	4.90%
Year 8	4.40%
Year 9	4.60%
Year 10	1.50%
Insurance | Liability
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	3.50%
Year 2	12.30%
Year 3	15.30%
Year 4	20.70%
Year 5	12.80%
Year 6	9.10%
Year 7	6.00%
Year 8	2.10%
Year 9	2.80%
Year 10	0.30%
Reinsurance | Property and other
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	21.10%
Year 2	42.30%
Year 3	17.80%
Year 4	6.00%
Year 5	2.50%
Year 6	1.20%
Year 7	0.90%
Year 8	1.40%
Year 9	0.60%
Year 10	0.90%
Reinsurance | Credit and surety
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	28.90%
Year 2	26.20%
Year 3	14.10%
Year 4	8.40%
Year 5	2.70%
Year 6	1.60%
Year 7	1.50%
Year 8	1.00%
Year 9	(0.60%)
Year 10	(0.80%)
Reinsurance | Professional lines
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	1.20%
Year 2	5.80%
Year 3	13.20%
Year 4	14.90%
Year 5	13.40%
Year 6	12.20%
Year 7	9.30%
Year 8	6.20%
Year 9	3.70%
Year 10	4.80%
Reinsurance | Motor
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	23.80%
Year 2	19.90%
Year 3	11.00%
Year 4	7.20%
Year 5	6.00%
Year 6	4.90%
Year 7	3.20%
Year 8	2.00%
Year 9	2.00%
Year 10	9.00%
Reinsurance | Liability
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	4.50%
Year 2	9.90%
Year 3	12.80%
Year 4	14.20%
Year 5	12.20%
Year 6	10.90%
Year 7	8.00%
Year 8	5.70%
Year 9	4.00%
Year 10	1.20%

RESERVE FOR LOSSES AND LOSS _12

RESERVE FOR LOSSES AND LOSS EXPENSES - Reconciliation of development tables to consolidated balance sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Claims Development [Line Items]
Net outstanding liabilities	$ 9,576,302
Reinsurance recoverable on unpaid claims	5,017,611	$ 4,496,641	$ 3,877,756	$ 3,501,669
Gross outstanding liabilities	14,593,913
Unallocated claims adjustment expenses	159,676
Foreign exchange and other	48,373
Ceded reserves related to retroactive transactions	(148,868)
Reserve for losses and loss expenses	14,653,094	$ 13,926,766	$ 12,752,081	$ 12,280,769
Insurance
Claims Development [Line Items]
Net outstanding liabilities	4,178,193
Reinsurance recoverable on unpaid claims	3,451,041
Gross outstanding liabilities	7,629,234
Insurance | Property and other
Claims Development [Line Items]
Net outstanding liabilities	688,786
Reinsurance recoverable on unpaid claims	417,814
Gross outstanding liabilities	1,106,600
Insurance | Marine
Claims Development [Line Items]
Net outstanding liabilities	430,468
Reinsurance recoverable on unpaid claims	182,584
Gross outstanding liabilities	613,052
Insurance | Aviation
Claims Development [Line Items]
Net outstanding liabilities	88,203
Reinsurance recoverable on unpaid claims	58,067
Gross outstanding liabilities	146,270
Insurance | Credit and political risk
Claims Development [Line Items]
Net outstanding liabilities	58,982
Reinsurance recoverable on unpaid claims	(23,381)
Gross outstanding liabilities	35,601
Insurance | Professional lines
Claims Development [Line Items]
Net outstanding liabilities	2,009,370
Reinsurance recoverable on unpaid claims	1,494,488
Gross outstanding liabilities	3,503,858
Insurance | Liability
Claims Development [Line Items]
Net outstanding liabilities	902,384
Reinsurance recoverable on unpaid claims	1,321,469
Gross outstanding liabilities	2,223,853
Reinsurance
Claims Development [Line Items]
Net outstanding liabilities	5,398,109
Reinsurance recoverable on unpaid claims	1,566,570
Gross outstanding liabilities	6,964,679
Reinsurance | Property and other
Claims Development [Line Items]
Net outstanding liabilities	1,652,950
Reinsurance recoverable on unpaid claims	584,201
Gross outstanding liabilities	2,237,151
Reinsurance | Credit and surety
Claims Development [Line Items]
Net outstanding liabilities	249,302
Reinsurance recoverable on unpaid claims	66,965
Gross outstanding liabilities	316,267
Reinsurance | Professional lines
Claims Development [Line Items]
Net outstanding liabilities	968,664
Reinsurance recoverable on unpaid claims	251,341
Gross outstanding liabilities	1,220,005
Reinsurance | Motor
Claims Development [Line Items]
Net outstanding liabilities	1,124,575
Reinsurance recoverable on unpaid claims	229,195
Gross outstanding liabilities	1,353,770
Reinsurance | Liability
Claims Development [Line Items]
Net outstanding liabilities	1,402,618
Reinsurance recoverable on unpaid claims	434,868
Gross outstanding liabilities	$ 1,837,486

REINSURANCE (Details)

REINSURANCE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Premiums written
Gross	$ 7,685,984	$ 6,826,938	$ 6,898,858
Ceded	(2,759,360)	(2,490,529)	(2,409,243)
Net	4,926,624	4,336,409	4,489,615
Premiums earned
Gross	7,281,709	6,768,733	6,910,677
Ceded	(2,571,859)	(2,397,424)	(2,323,499)
Net	4,709,850	4,371,309	4,587,178
Reinsurance receivables:
Ceded losses and loss expenses	1,782,000	1,914,000	1,602,000
Allowance for credit losses on reinsurance recoverable for unpaid losses and loss expenses	$ 29,554	$ 23,711	$ 18,000

DEBT AND FINANCING ARRANGEMEN_3

DEBT AND FINANCING ARRANGEMENTS - Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 10, 2019	Jun. 19, 2019	Dec. 06, 2017	Mar. 13, 2014
Debt Instrument [Line Items]
Debt	$ 1,310,975	$ 1,309,695
Senior Notes | 5.150% Senior Notes
Debt Instrument [Line Items]
Interest rate						5.15%
Debt	246,632	246,559
Senior Notes | 4.000% Senior Notes
Debt Instrument [Line Items]
Interest rate					4.00%
Debt	347,665	347,324
Senior Notes | 3.900% Senior Notes
Debt Instrument [Line Items]
Interest rate				3.90%
Debt	296,172	295,748
Junior Subordinated Notes
Debt Instrument [Line Items]
Interest rate			4.90%
Debt	$ 420,506	$ 420,064

DEBT AND FINANCING ARRANGEMEN_4

DEBT AND FINANCING ARRANGEMENTS - Debt terms (Details) - USD ($)	Dec. 10, 2019	Jun. 19, 2019	Dec. 06, 2017	Mar. 13, 2014
Senior Notes | 5.150% Senior Notes
Debt Instrument [Line Items]
Interest rate				5.15%
Aggregate Principal				$ 250,000,000
Issue Price				99.474%
Net Proceeds				$ 246,000,000
Senior Notes | 4.000% Senior Notes
Debt Instrument [Line Items]
Interest rate			4.00%
Aggregate Principal			$ 350,000,000
Issue Price			99.78%
Net Proceeds			$ 347,000,000
Senior Notes | 3.900% Senior Notes
Debt Instrument [Line Items]
Interest rate		3.90%
Aggregate Principal		$ 300,000,000
Issue Price		99.36%
Net Proceeds		$ 296,000,000
Senior Notes | Senior Notes Due 2045 Axis Specialty Finance PLC 2014
Debt Instrument [Line Items]
Interest rate				5.15%
Senior Notes | Senior Notes Axis Specialty Finance PLC 2017
Debt Instrument [Line Items]
Interest rate			4.00%
Senior Notes | 3.9% Senior Notes
Debt Instrument [Line Items]
Interest rate		3.90%
Senior Notes | 3.9% Senior Notes | AXIS Specialty Finance LLC
Debt Instrument [Line Items]
Interest rate		3.90%
Junior Subordinated Notes
Debt Instrument [Line Items]
Interest rate	4.90%
Aggregate Principal	$ 425,000,000
Issue Price	99.00%
Net Proceeds	$ 420,750,000
Junior Subordinated Notes | AXIS Specialty Finance LLC
Debt Instrument [Line Items]
Interest rate	4.90%
Junior Subordinated Notes | Five-Year Treasury Rate
Debt Instrument [Line Items]
Basis spread on variable rate	3.186%

DEBT AND FINANCING ARRANGEMEN_5

DEBT AND FINANCING ARRANGEMENTS - Senior and notes payable, Dekania Notes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 10, 2019	Jun. 19, 2019	Dec. 06, 2017	Mar. 13, 2014
Senior Notes
Debt Instrument [Line Items]
Interest expense	$ 40	$ 52	$ 67
Senior Notes | Senior Notes Due 2045 Axis Specialty Finance PLC 2014
Debt Instrument [Line Items]
Interest rate							5.15%
Senior Notes | Senior Notes Axis Specialty Finance PLC 2017
Debt Instrument [Line Items]
Interest rate						4.00%
Senior Notes | 3.9% Senior Notes
Debt Instrument [Line Items]
Interest rate					3.90%
Junior Subordinated Notes
Debt Instrument [Line Items]
Interest rate				4.90%
Interest expense	$ 21	$ 21
AXIS Specialty Finance LLC | Senior Notes | 3.9% Senior Notes
Debt Instrument [Line Items]
Interest rate					3.90%
AXIS Specialty Finance LLC | Junior Subordinated Notes
Debt Instrument [Line Items]
Interest rate				4.90%
AXIS Specialty Finance LLC | Subsidiary Issuer
Debt Instrument [Line Items]
Percentage ownership in subsidiary	100.00%				100.00%
AXIS Specialty Finance PLC | Subsidiary Issuer
Debt Instrument [Line Items]
Percentage ownership in subsidiary	100.00%					100.00%	100.00%

DEBT AND FINANCING ARRANGEMEN_6

DEBT AND FINANCING ARRANGEMENTS - Debt maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Scheduled debt maturity
2022	$ 0
2023	0
2024	0
2025	0
2026	0
After 2026	1,325,000
Unamortized discount and debt issuance expenses	(14,025)
Total senior notes and notes payable	$ 1,310,975	$ 1,309,695

DEBT AND FINANCING ARRANGEMEN_7

DEBT AND FINANCING ARRANGEMENTS - Credit facilities (Details) - Letter of Credit Facility - Citibank - USD ($)	Dec. 31, 2021	Mar. 31, 2021	Mar. 30, 2021	Dec. 31, 2020	Mar. 28, 2020	Dec. 24, 2019	Mar. 27, 2017	Mar. 31, 2015	Mar. 30, 2015	Nov. 20, 2013
Line of Credit Facility [Line Items]
Maximum capacity							$ 500,000,000	$ 500,000,000	$ 750,000,000	$ 750,000,000
Letters of credit outstanding	$ 356,000,000			$ 339,000,000
$500 million secured LOC
Line of Credit Facility [Line Items]
Maximum capacity						$ 500,000,000	500,000,000
$250 million secured LOC
Line of Credit Facility [Line Items]
Maximum capacity		$ 250,000,000			$ 250,000,000		$ 250,000,000
Line of credit facility, utilization capacity		150,000,000	$ 250,000,000
Line of credit facility, amount subject to administrative changes		500,000,000
$750 million secured LOC
Line of Credit Facility [Line Items]
Maximum capacity		750,000,000
Line of credit facility, aggregate utilization capacity		$ 650,000,000	$ 750,000,000

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Cash and investments (Details) $ in Thousands	Dec. 31, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
Fixed maturity investment portfolio	$ 12,800,000
Fixed maturity investment portfolio percentage	47.00%
Fixed maturity portfolio - corporate issuer concentration limit above A-	2.00%
Fixed maturity portfolio - corporate issuer concentration limit below A-	1.00%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Reinsurance and premiums (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)broker	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Concentration Risk [Line Items]
Allowance for estimated uncollectible premium balances receivable	$ 7,567	$ 8,836
Premiums receivable, bad debt expense charges	$ 0	$ 0	$ 0
Reinsurance Recoverable On Unpaid And Paid Losses | Reinsurer Concentration | Reinsurer 1
Concentration Risk [Line Items]
Concentration risk, percentage of total	13.00%	13.00%
Reinsurance Recoverable On Unpaid And Paid Losses | Reinsurer Concentration | Reinsurer 2
Concentration Risk [Line Items]
Concentration risk, percentage of total	10.00%	10.00%
Reinsurance Recoverable On Unpaid And Paid Losses | Reinsurer Concentration | Reinsurer 3
Concentration Risk [Line Items]
Concentration risk, percentage of total	5.00%	7.00%
Reinsurance Recoverable On Unpaid And Paid Losses | Reinsurer Concentration | Top Ten Reinsurers | AM Best, A- Rating
Concentration Risk [Line Items]
Concentration risk, percentage of total	85.70%	87.60%
Gross Premiums Written | Customer Concentration
Concentration Risk [Line Items]
Concentration risk, number of brokers exceeding threshold | broker	3
Gross Premiums Written | Customer Concentration | Three Brokers
Concentration Risk [Line Items]
Concentration risk, percentage of total	45.00%	47.00%	47.00%
Gross Premiums Written | Customer Concentration | Marsh & McLennan Companies Inc.
Concentration Risk [Line Items]
Concentration risk, percentage of total	18.00%	19.00%	18.00%
Gross Premiums Written | Customer Concentration | Aon plc
Concentration Risk [Line Items]
Concentration risk, percentage of total	17.00%	17.00%	19.00%
Gross Premiums Written | Customer Concentration | Willis Towers Watson PLC
Concentration Risk [Line Items]
Concentration risk, percentage of total	10.00%	11.00%	10.00%

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Reinsurance purchase commitment, investments and funds at Lloyd's (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Unrecorded Unconditional Purchase Obligation [Line Items]
Purchase commitment	$ 10,000	$ 13,000
Unfunded commitments related to other investments	649,000	588,000
Collateral in Trust for third-party agreements	$ 2,412,882	1,903,274
Axis Corporate Capital UK Limited
Unrecorded Unconditional Purchase Obligation [Line Items]
Capital support, percentage	70.00%
Axis Corporate Capital UK Limited II
Unrecorded Unconditional Purchase Obligation [Line Items]
Capital support, percentage	30.00%
Corporate debt
Unrecorded Unconditional Purchase Obligation [Line Items]
Purchase commitment	$ 19,000	0
CMBS
Unrecorded Unconditional Purchase Obligation [Line Items]
Purchase commitment	33,000	46,000
Lloyd's
Unrecorded Unconditional Purchase Obligation [Line Items]
Collateral in Trust for third-party agreements	$ 900,000	$ 1,200,000

LEASES - Lease costs (Details)

LEASES - Lease costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lease cost:
Operating lease expense	$ 21,864	$ 24,726	$ 27,549
Short-term lease expense	1,127	299	1,132
Sublease income	(3,116)	(3,578)	(1,144)
Total lease expense	19,875	21,447	27,537
Other information:
Operating cash outflows from operating leases	22,726	20,452	25,004
Right-of-use assets obtained in exchange for new operating lease liabilities	$ (1,739)	$ 36,742	$ 0
Weighted-average remaining lease term - operating leases	10 years	10 years 2 months 12 days	9 years
Weighted-average discount rate - operating lease	4.10%	4.20%	4.70%

LEASES - Operating lease liabil

LEASES - Operating lease liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Feb. 01, 2020
Year ended December 31,
Expected cash flows, year one	$ 23,262	$ 22,817
Expected cash flows, year two	19,725	23,598
Expected cash flows, year three	13,556	20,190
Expected cash flows, year four	12,924	14,478
Expected cash flows, year five	10,770	13,849
Later years	66,705	78,987
Discount	(27,430)	(33,656)
Total discounted operating lease liabilities	$ 119,512	$ 140,263	$ 40,000

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Feb. 01, 2020
Leases [Abstract]
Lease term			15 years
Operating lease liabilities	$ 119,512	$ 140,263	$ 40,000

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings (loss) per common share
Net income (loss)	$ 618,609	$ (120,424)	$ 323,473
Less: Preferred share dividends	30,250	30,250	41,112
Net income (loss) available (attributable) to common shareholders	$ 588,359	$ (150,674)	$ 282,361
Weighted average common shares outstanding (in shares)	84,707	84,262	83,894
Earnings (loss) per common share (in dollars per share)	$ 6.95	$ (1.79)	$ 3.37
Earnings (loss) per diluted common share
Net income (loss) available (attributable) to common shareholders	$ 588,359	$ (150,674)	$ 282,361
Weighted average common shares outstanding (in shares)	84,707	84,262	83,894
Share-based compensation plans (in shares)	584	0	579
Weighted average diluted common shares outstanding (in shares)	85,291	84,262	84,473
Earnings (loss) per diluted common share (in dollars per share)	$ 6.90	$ (1.79)	$ 3.34
Weighted average anti-dilutive shares excluded from the dilutive computation (in shares)	656	922	154

SHAREHOLDERS' EQUITY - Common s

SHAREHOLDERS' EQUITY - Common shares (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Authorized share capital, common (in shares)	800,000,000
Par value per share, common (in usd per share)	$ 0.0125
Common Shares Issued and Outstanding [Roll Forward]
Shares issued, balance at beginning of year (in shares)	176,580,000
Total shares issued at end of year (in shares)	176,580,000	176,580,000
Treasury Shares Issued and Outstanding [Roll Forward]
Treasury shares, balance at beginning of year (in shares)	(92,227,000)
Total treasury shares at end of year (in shares)	(91,806,000)	(92,227,000)
Total shares outstanding (in shares)	84,774,000	84,353,000
Common stocks
Common Shares Issued and Outstanding [Roll Forward]
Shares issued, balance at beginning of year (in shares)	176,580,000	176,580,000	176,580,000
Shares issued (in shares)	0	0	0
Total shares issued at end of year (in shares)	176,580,000	176,580,000	176,580,000
Treasury Shares Issued and Outstanding [Roll Forward]
Treasury shares, balance at beginning of year (in shares)	(92,227,000)	(92,621,000)	(92,994,000)
Shares repurchased (in shares)	(205,000)	(194,000)	(176,000)
Shares reissued from treasury (in shares)	626,000	588,000	549,000
Total treasury shares at end of year (in shares)	(91,806,000)	(92,227,000)	(92,621,000)
Total shares outstanding (in shares)	84,774,000	84,353,000	83,959,000

SHAREHOLDERS' EQUITY - Share re

SHAREHOLDERS' EQUITY - Share repurchase activities (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 02, 2021
Treasury Shares [Line Items]
New share repurchase plan				$ 100,000
Common stocks
Treasury Shares [Line Items]
Total shares (in shares)	205	194	176
Total cost	$ 10,242	$ 10,382	$ 10,165
Average price per share (in usd per share)	$ 49.93	$ 53.43	$ 57.66
Common stocks | In the open market:
Treasury Shares [Line Items]
Total shares (in shares)	0	0	0
Total cost	$ 0	$ 0	$ 0
Average price per share (in usd per share)	$ 0	$ 0	$ 0
Common stocks | From employees:
Treasury Shares [Line Items]
Total shares (in shares)	205	194	176
Total cost	$ 10,242	$ 10,382	$ 10,165
Average price per share (in usd per share)	$ 49.93	$ 53.43	$ 57.66

SHAREHOLDERS' EQUITY - Preferre

SHAREHOLDERS' EQUITY - Preferred shares (Details) - USD ($)	Jan. 17, 2020	Nov. 07, 2016	May 20, 2013	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Preferred shares, aggregate liquidation value outstanding				$ 550,000,000	$ 550,000,000
Series D 5.50% Preferred Shares
Class of Stock [Line Items]
Preferred shares, aggregate liquidation value issued			$ 225,000,000
Preferred shares, dividend rate			5.50%
Preferred shares, par value per share (in usd per share)			$ 0.0125
Preferred shares, liquidation preference per share (in usd per share)			25
Preferred shares, redemption price per share (in usd per share)			$ 25
Preferred shares, number of shares redeemed (in shares)	9,000,000
Preferred shares, aggregate liquidation value outstanding	$ 225,000,000
Series E 5.50% Preferred Shares
Class of Stock [Line Items]
Preferred shares, aggregate liquidation value issued		$ 550,000,000
Preferred shares, dividend rate		5.50%
Preferred shares, par value per share (in usd per share)		$ 0.0125
Preferred shares, liquidation preference per share (in usd per share)		2,500
Preferred shares, redemption price per share (in usd per share)		$ 2,500

SHAREHOLDERS' EQUITY - Dividend

SHAREHOLDERS' EQUITY - Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 17, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Common shares, dividends declared per share (in usd per share)		$ 1.69	$ 1.65	$ 1.61
Common shares, dividends paid per share (in usd per share)		1.26	1.23	1.20
Dividends paid in year following declaration (in usd per share)		$ 0.43	$ 0.42	0.41
Preferred shares		$ 550,000	$ 550,000
Series D preferred shares
Class of Stock [Line Items]
Preferred shares, dividend declared per share (in usd per share)				1.21
Preferred shares, dividends paid per share (in usd per share)				1.03
Dividends paid in year following declaration (in usd per share)				0.18
Preferred shares, number of shares redeemed (in shares)	9,000,000
Preferred shares	$ 225,000
Series E preferred shares
Class of Stock [Line Items]
Preferred shares, dividend declared per share (in usd per share)		$ 137.50	$ 137.50	137.50
Preferred shares, dividends paid per share (in usd per share)		103.13	103.13	103.13
Dividends paid in year following declaration (in usd per share)		$ 34.38	$ 34.38	$ 34.38

RETIREMENT PLANS (Details)

RETIREMENT PLANS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Total pension expenses	$ 34	$ 29	$ 28

SHARE-BASED COMPENSATION - Sign

SHARE-BASED COMPENSATION - Significant Inputs Used in the Monte Carlo Simulation Model (Details) - Performance Restricted Stock Units	12 Months Ended
	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (as a percent)	32.99%
Expected term (in years)	3 years
Risk-free interest rate (as a percent)	0.17%

SHARE-BASED COMPENSATION - Long

SHARE-BASED COMPENSATION - Long term equity compensation plan narrative (Details)	May 07, 2021shares	Dec. 31, 2021installmentshares	May 31, 2017shares
Restricted Stock Units | Share Settled | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Number of installments | installment		3
Restricted Stock Units | Share Settled | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Number of installments | installment		4
Restricted Stock Units | Cash Settled | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Restricted Stock Units | Cash Settled | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
2017 Long Term Equity Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares to be issued under the plan (in shares)			3,400,000
Additional share awards granted under the plan (in shares)	1,600,000
Number of awards available for grant under plan (in shares)		2,507,634
2007 Long-term Equity Compensation Plan | Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		2 years

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share and cash settled awards (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Performance Based Restricted Stock and Restricted Stock Units | Share Settled
Number of restricted stock units
Nonvested restricted stock - beginning of year (in shares)	289	258
Granted (in shares)	122	97
Vested (in shares)	(66)	(27)
Forfeited (in shares)	(34)	(39)
Nonvested restricted stock - end of year (in shares)	311	289
Weighted average grant date fair value
Nonvested restricted stock units - beginning of year (in usd per share)	$ 55.92	$ 53.31
Granted (in usd per share)	49.04	62.26
Vested (in usd per share)	48.89	64.01
Forfeited (in usd per share)	55.68	48.89
Nonvested restricted stock units - end of year (in usd per share)	$ 54.75	$ 55.92
Performance Based Restricted Stock and Restricted Stock Units | Cash Settled
Number of restricted stock units
Nonvested restricted stock - beginning of year (in shares)	0	6
Granted (in shares)	0	0
Vested (in shares)	0	(6)
Forfeited (in shares)	0	0
Nonvested restricted stock - end of year (in shares)	0	0
Restricted Stock Units | Share Settled
Number of restricted stock units
Nonvested restricted stock - beginning of year (in shares)	1,501	1,273
Granted (in shares)	1,250	894
Vested (in shares)	(561)	(561)
Forfeited (in shares)	(128)	(105)
Nonvested restricted stock - end of year (in shares)	2,062	1,501
Weighted average grant date fair value
Nonvested restricted stock units - beginning of year (in usd per share)	$ 56.50	$ 54.32
Granted (in usd per share)	48.04	58.98
Vested (in usd per share)	56.42	55.29
Forfeited (in usd per share)	53.37	57.54
Nonvested restricted stock units - end of year (in usd per share)	$ 51.59	$ 56.50
Restricted Stock Units | Cash Settled
Number of restricted stock units
Nonvested restricted stock - beginning of year (in shares)	471	853
Granted (in shares)	0	1
Vested (in shares)	(233)	(332)
Forfeited (in shares)	(23)	(51)
Nonvested restricted stock - end of year (in shares)	215	471

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional information related to share-based compensation (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)trading_day	Dec. 31, 2020USD ($)trading_day	Dec. 31, 2019USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability for cash-settled restricted stock units	$ 9,091	$ 13,273
Trading days proceeding and performance period | trading_day	10	10
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	$ 49,415	$ 47,789	$ 52,218
Tax benefits associated with share-based compensation expense	7,613	8,061	8,913
Fair value of restricted stock units vested	42,967	50,757	51,206
Unrecognized share-based compensation expense	$ 80,805	$ 74,014	$ 75,770
Expected weighted average period associated with the recognition of unrecognized share-based compensation expense	2 years 4 months 24 days	2 years 4 months 24 days	2 years 3 months 18 days
Performance Restricted Stock Units | Performance Restricted Stock Units Granted In 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance Restricted Stock Units | Performance Restricted Stock Units Granted In 2021 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)	0.00%
Performance Restricted Stock Units | Performance Restricted Stock Units Granted In 2021 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)	200.00%
Performance Restricted Stock Units | Performance Restricted Stock Units granted in 2020 and 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance Restricted Stock Units | Performance Restricted Stock Units granted in 2020 and 2019 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)	75.00%
Performance Restricted Stock Units | Performance Restricted Stock Units granted in 2020 and 2019 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)	125.00%
Performance Restricted Stock Units | Performance Restricted Stock Units granted in 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance Restricted Stock Units | Performance Restricted Stock Units granted in 2018 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)	0.00%
Performance Restricted Stock Units | Performance Restricted Stock Units granted in 2018 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)	200.00%
Cash Settled | Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability for cash-settled restricted stock units	$ 9,091	$ 13,273	$ 21,731

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	Jun. 29, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Other investments		$ 947,982	$ 829,156
Ceded premiums		2,759,360	2,490,529	$ 2,409,243
Ceded losses and loss expenses		1,782,000	1,914,000	1,602,000
Insurance and reinsurance balances payable		1,324,620	1,092,042
Stone Point Group
Related Party Transaction [Line Items]
Fees paid to related party		2,000	3,000	3,000
Freedom Consumer Credit Fund, LLC Series B
Related Party Transaction [Line Items]
Fees paid to related party		3,000	2,000	3,000
Other investments		47,000
Stone Point Trident Fund VIII
Related Party Transaction [Line Items]
Fees paid to related party		4,000	1,000	0
Other investments		79,000
Stone Point Trident VIII Co-Invest
Related Party Transaction [Line Items]
Other investments		25,000
Chairman
Related Party Transaction [Line Items]
Fees paid to related party			400	400
Significant influence
Related Party Transaction [Line Items]
Other investments		555,000	404,000
Harrington Re
Related Party Transaction [Line Items]
Ceded premiums		283,000	256,000	247,000
Ceded losses and loss expenses		188,000	187,000	157,000
Reinsurance recoverable on unpaid and paid losses		717,000	641,000
Insurance and reinsurance balances payable		189,000	188,000
Ventures Re
Related Party Transaction [Line Items]
Ceded premiums				192,000
Ceded losses and loss expenses				140,000
Stone Point's Private Equity Fund | Investment In Related Party
Related Party Transaction [Line Items]
Other investments		20,000
Stone Point Credit Corporation | Investment In Related Party
Related Party Transaction [Line Items]
Other investments		12,000
Senior Unsecured Notes Due 2031 | Investment In Related Party
Related Party Transaction [Line Items]
Other investments	$ 10,000
Related party transaction floating rate (as a percent)	7.25%
Rialto Real Estate Fund IV-Property
Related Party Transaction [Line Items]
Fees paid to related party		1,000	$ 0	$ 0
Other investments		$ 16,000
Stone Point Group | Pantheon
Related Party Transaction [Line Items]
Percentage ownership by related parties		14.50%

REORGANIZATION EXPENSES (Detail

REORGANIZATION EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restructuring and Related Activities [Abstract]
Reorganization expenses	$ 0	$ 7,881	$ 37,384

INCOME TAXES - Income tax expen

INCOME TAXES - Income tax expense and net tax assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income tax expense [Line Items]
Total income tax expense (benefit)	$ 62,384	$ (12,321)	$ 23,692
Net current tax receivables	27,883	12,205	13,130
Net deferred tax assets (liabilities)		(1,625)
Net deferred tax assets (liabilities)	12,860		18,621
Net tax assets	40,743	10,580	31,751
U.S.
Income tax expense [Line Items]
Current income tax expense (benefit)	35,229	(1,122)	12,601
Deferred income tax expense (benefit)	(3,369)	(3,098)	17,665
Europe
Income tax expense [Line Items]
Current income tax expense (benefit)	(6,082)	365	22,425
Deferred income tax expense (benefit)	36,606	(8,466)	(29,468)
Other
Income tax expense [Line Items]
Current income tax expense (benefit)	$ 0	$ 0	$ 469

INCOME TAXES - Deferred tax ass

INCOME TAXES - Deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Discounting of net reserves for losses and loss expenses	$ 53,415	$ 47,912
Unearned premiums	53,342	46,049
Operating and capital loss carryforwards	85,358	80,008
Accruals not currently deductible	38,294	28,096
Tax credits	2,709	11,142
Other deferred tax assets	5,040	4,352
Deferred tax assets before valuation allowance	238,158	217,559
Valuation allowance	(16,918)	(20,778)
Deferred tax assets net of valuation allowance	221,240	196,781
Deferred tax liabilities:
Deferred acquisition costs	(34,845)	(37,098)
Net unrealized investments gains	(23,866)	(39,459)
Intangible assets	(52,722)	(46,132)
Equalization reserves	(2,365)	(2,825)
Acquisition adjustments	(79,464)	(60,261)
Other deferred tax liabilities	(15,118)	(12,631)
Deferred tax liabilities	(208,380)	(198,406)
Net deferred tax assets (liabilities)		(1,625)
Net deferred tax assets (liabilities)	12,860		$ 18,621
Lloyd's
Deferred tax assets:
Operating and capital loss carryforwards	$ 0	$ 39,000

INCOME TAXES - Operating and ca

INCOME TAXES - Operating and capital loss carryforwards and tax credits (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating and capital loss carryforwards	$ 85,358	$ 80,008
Singapore
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	76,287	110,504
United Kingdom
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	308,491	357,226
Tax credit	2,372	8,756
Ireland
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	11,850	404
Tax credit	338	2,386
Ireland | Capital loss carryforward
Operating Loss And Tax Credit Carryforwards [Line Items]
Capital loss carryforwards	716	716
Switzerland
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	15,989	0
Belgium
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	0	1,850
Lloyd's
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating and capital loss carryforwards	0	39,000
Lloyd's | United Kingdom
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	$ 0	$ 206,000

INCOME TAXES - Valuation allowa

INCOME TAXES - Valuation allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance - beginning of year	$ 20,778
Valuation allowance - end of year	16,918	$ 20,778
Operating loss carryforwards
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Change in valuation allowance	(3,422)	661
Foreign tax credit
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Change in valuation allowance	(2,048)	293
U.K. branch assets and other foreign rate differentials
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Change in valuation allowance	1,610	1,264
Income tax expense
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance - beginning of year	20,778	18,560
Valuation allowance - end of year	$ 16,918	$ 20,778

INCOME TAXES - Effective tax ra

INCOME TAXES - Effective tax rate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of effective tax rate (% of income before income taxes) [Line Items]
Unrecognized tax benefits	$ 0	$ 0
Income (loss) before income taxes
Bermuda (domestic)	431,310,000	(45,951,000)	$ 179,418,000
Foreign	249,686,000	(86,794,000)	167,747,000
Total income (loss) before income taxes	$ 680,996,000	$ (132,745,000)	$ 347,165,000
Reconciliation of effective tax rate (% of income before income taxes)
Expected tax rate	0.00%	0.00%	0.00%
Valuation allowance	(0.50%)	(1.70%)	1.30%
Other	1.40%	(2.10%)	(3.00%)
Actual tax rate	9.20%	9.30%	6.80%
U.S.
Reconciliation of effective tax rate (% of income before income taxes)
Foreign taxes at local expected rates	4.80%	5.60%	8.10%
Europe
Reconciliation of effective tax rate (% of income before income taxes)
Foreign taxes at local expected rates	2.00%	9.20%	0.40%
Change in enacted tax rate	1.50%	(1.70%)	0.00%
United Kingdom | Minimum
Reconciliation of effective tax rate (% of income before income taxes)
Change in enacted tax rate	19.00%	17.00%
United Kingdom | Maximum
Reconciliation of effective tax rate (% of income before income taxes)
Change in enacted tax rate	25.00%	19.00%
Belgium | Minimum
Reconciliation of effective tax rate (% of income before income taxes)
Change in enacted tax rate	29.58%
Belgium | Maximum
Reconciliation of effective tax rate (% of income before income taxes)
Change in enacted tax rate	25.00%

OTHER COMPREHENSIVE INCOME (L_3

OTHER COMPREHENSIVE INCOME (LOSS) - Component of other comprehensive income (loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Before tax amount
Other comprehensive income (loss), before tax amount	$ (404,757)	$ 273,508	$ 384,298
Income tax (expense) benefit
Other comprehensive income (loss), tax (expense) benefit	46,898	(30,823)	(35,478)
Net of tax amount
Other comprehensive income (loss), net of tax amount	(357,859)	242,685	348,820
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized
Before tax amount
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized	(310,710)	360,357
Income tax (expense) benefit
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized	39,263	(43,191)
Net of tax amount
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized	(271,447)	317,166
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has been recognized
Before tax amount
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized	81	(40)
Income tax (expense) benefit
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized	0	0
Net of tax amount
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized	81	(40)
Unrealized gains (losses) on available for sale investments, net of tax:
Before tax amount
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized			414,982
Adjustment for reclassification of net realized (gains) losses and impairment losses recognized in net income (loss)	(94,749)	(90,380)	(29,618)
Other comprehensive income (loss), before tax amount	(405,378)	269,937	385,364
Income tax (expense) benefit
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized			(40,367)
Adjustment for reclassification of net realized (gains) losses and impairment losses recognized in net income (loss)	7,635	12,368	4,889
Other comprehensive income (loss), tax (expense) benefit	46,898	(30,823)	(35,478)
Net of tax amount
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized			374,615
Adjustment for reclassification of net realized (gains) losses and impairment losses recognized in net income (loss)	(87,114)	(78,012)	(24,729)
Other comprehensive income (loss), net of tax amount	(358,480)	239,114	349,886
Foreign currency translation adjustment
Before tax amount
Other comprehensive income (loss), before tax amount	621	3,571	(1,066)
Income tax (expense) benefit
Other comprehensive income (loss), tax (expense) benefit	0	0	0
Net of tax amount
Other comprehensive income (loss), net of tax amount	$ 621	$ 3,571	$ (1,066)

OTHER COMPREHENSIVE INCOME (L_4

OTHER COMPREHENSIVE INCOME (LOSS) - Reclassifications out of AOCI into net income (Details) - USD ($) $ in Thousands	Dec. 18, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reclassification out of accumulated comprehensive income into net income available to common shareholders [Line Items]
Impairment losses		$ (22)	$ (1,486)	$ 0
Other-than-temporary impairment ("OTTI") losses		0	0	(6,984)
Income before income taxes and interest in income of equity method investments		648,909	(129,133)	337,447
Foreign exchange losses		(315)	(81,069)	12,041
Income tax (expense) benefit		(62,384)	12,321	(23,692)
Net income (loss)		618,609	(120,424)	323,473
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) on available for sale investments
Reclassification out of accumulated comprehensive income into net income available to common shareholders [Line Items]
Other realized gains (losses)		94,771	91,866	36,602
Impairment losses		(22)	(1,486)	0
Other-than-temporary impairment ("OTTI") losses		0	0	(6,984)
Income before income taxes and interest in income of equity method investments		94,749	90,380	29,618
Income tax (expense) benefit		(7,635)	(12,368)	(4,889)
Net income (loss)		87,114	78,012	24,729
Reclassification out of Accumulated Other Comprehensive Income | Foreign currency translation adjustment
Reclassification out of accumulated comprehensive income into net income available to common shareholders [Line Items]
Foreign exchange losses		0	0	6,043
Income tax (expense) benefit		0	0	0
Net income (loss)		$ 0	$ 0	$ 6,043
Reclassification out of Accumulated Other Comprehensive Income | Foreign currency translation adjustment | Aviabel
Reclassification out of accumulated comprehensive income into net income available to common shareholders [Line Items]
Foreign exchange losses	$ 6,000

STATUTORY FINANCIAL INFORMATI_3

STATUTORY FINANCIAL INFORMATION (Details)	12 Months Ended
	Dec. 31, 2021USD ($)board_member	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Statutory Financial Information [Line Items]
Statutory net income	$ 569,000,000	$ 85,000,000	$ 364,000,000
Axis Corporate Capital UK Limited
Statutory Financial Information [Line Items]
Capital support, percentage	70.00%
Axis Corporate Capital UK Limited II
Statutory Financial Information [Line Items]
Capital support, percentage	30.00%
Axis Corporate Capital UK Limited | Fixed maturities and short-term investments
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value	$ 658,000,000	746,000,000
Axis Corporate Capital UK Limited | Cash
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value	19,000,000	12,000,000
Axis Corporate Capital UK II Limited
Statutory Financial Information [Line Items]
Financial instruments, as collateral, released from restriction	60,000,000	32,000,000
Axis Corporate Capital UK II Limited | Fixed maturities and short-term investments
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value	225,000,000	361,000,000
Axis Corporate Capital UK II Limited | Cash
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value	6,000,000	14,000,000
Axis Corporate Capital UK II Limited | Equity securities
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value	28,000,000	23,000,000
Bermuda
Statutory Financial Information [Line Items]
Required statutory capital and surplus	1,517,485,000	1,584,854,000
Available statutory capital and surplus	3,067,879,000	3,004,077,000
Minimum solvency margin amount	$ 100,000,000
Minimum solvency margin percentage of net written premiums	50.00%
Minimum solvency margin percentage of net reserves	15.00%
Minimum solvency margin percentage of ECR	25.00%
Limit - prior year's total statutory capital surplus (Bermuda)	25.00%
Number of directors required to sign affidavits in order to pay dividend/distribution greater than 25% of prior year statutory capital and surplus | board_member	2
Maximum dividend/distribution payable without regulatory approval	$ 782,000,000	792,000,000
Ireland
Statutory Financial Information [Line Items]
Required statutory capital and surplus	755,270,000	778,493,000
Available statutory capital and surplus	1,147,194,000	1,085,317,000
Maximum dividend/distribution payable with regulatory approval	25,000,000	11,000,000
U.S.
Statutory Financial Information [Line Items]
Required statutory capital and surplus	626,973,000	542,824,000
Available statutory capital and surplus	1,885,383,000	1,685,684,000
Maximum dividend/distribution payable without regulatory approval	$ 120,000,000	$ 110,000,000
Maximum dividend limit - percentage of total statutory capital and surplus	10.00%

SCHEDULE I - SUMMARY OF INVES_2

SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES (Details) $ in Thousands	Dec. 31, 2021USD ($)
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	$ 14,578,358
Amount shown on the balance sheet	15,134,317
Fixed maturities, available for sale
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	12,241,782
Fair value	12,313,200
Amount shown on the balance sheet	12,313,200
Fixed maturities, available for sale | U.S. government and agency
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	2,693,319
Fair value	2,682,448
Amount shown on the balance sheet	2,682,448
Fixed maturities, available for sale | Non-U.S. government
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	794,705
Fair value	795,178
Amount shown on the balance sheet	795,178
Fixed maturities, available for sale | Corporate debt
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	4,446,585
Fair value	4,495,312
Amount shown on the balance sheet	4,495,312
Fixed maturities, available for sale | Agency RMBS
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	1,065,973
Fair value	1,074,589
Amount shown on the balance sheet	1,074,589
Fixed maturities, available for sale | CMBS
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	1,223,051
Fair value	1,248,191
Amount shown on the balance sheet	1,248,191
Fixed maturities, available for sale | Non-agency RMBS
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	185,854
Fair value	186,164
Amount shown on the balance sheet	186,164
Fixed maturities, available for sale | ABS
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	1,628,739
Fair value	1,622,480
Amount shown on the balance sheet	1,622,480
Fixed maturities, available for sale | Municipals
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	203,556
Fair value	208,838
Amount shown on the balance sheet	208,838
Total fixed maturities, held to maturity
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	446,016
Fair value	445,033
Amount shown on the balance sheet	446,016
Total fixed maturities, held to maturity | Corporate debt
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	37,700
Fair value	37,572
Amount shown on the balance sheet	37,700
Total fixed maturities, held to maturity | ABS
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	408,316
Fair value	407,461
Amount shown on the balance sheet	408,316
Mortgage loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	594,088
Amount shown on the balance sheet	594,088
Short-term investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	31,063
Amount shown on the balance sheet	31,063
Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	655,675
Amount shown on the balance sheet	655,675
Other Investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	539,299
Amount shown on the balance sheet	947,982
Equity method investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	0
Amount shown on the balance sheet	$ 146,293

SCHEDULE II - CONDENSED BALANCE

SCHEDULE II - CONDENSED BALANCE SHEETS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 844,592	$ 902,831
Other assets	309,792	305,544
Total assets	27,368,970	25,877,687
Liabilities
Other liabilities	427,894	322,564
Total liabilities	21,958,314	20,581,993
Shareholders’ equity
Preferred shares	550,000	550,000
Common shares (shares issued 2021: 176,580; 2020: 176,580 shares outstanding 2021: 84,774; 2020: 84,353)	2,206	2,206
Additional paid-in capital	2,346,179	2,330,054
Accumulated other comprehensive income	56,536	414,395
Retained earnings	6,204,745	5,763,607
Treasury shares, at cost (2021: 91,806; 2020: 92,227)	(3,749,010)	(3,764,568)
Total shareholders’ equity	5,410,656	5,295,694
Total liabilities and shareholders’ equity	27,368,970	25,877,687
AXIS Capital Holdings Limited
Assets
Investments in subsidiaries	5,676,653	5,633,176
Cash and cash equivalents	1,531	1,711
Other assets	6,525	5,832
Total assets	5,684,709	5,640,719
Liabilities
Intercompany payable	192,618	289,486
Dividends payable	51,775	50,153
Other liabilities	29,660	5,386
Total liabilities	274,053	345,025
Shareholders’ equity
Preferred shares	550,000	550,000
Common shares (shares issued 2021: 176,580; 2020: 176,580 shares outstanding 2021: 84,774; 2020: 84,353)	2,206	2,206
Additional paid-in capital	2,346,179	2,330,054
Accumulated other comprehensive income	56,536	414,395
Retained earnings	6,204,745	5,763,607
Treasury shares, at cost (2021: 91,806; 2020: 92,227)	(3,749,010)	(3,764,568)
Total shareholders’ equity	5,410,656	5,295,694
Total liabilities and shareholders’ equity	$ 5,684,709	$ 5,640,719

SCHEDULE II - CONDENSED BALAN_2

SCHEDULE II - CONDENSED BALANCE SHEETS - Additional Information (Details) - shares shares in Thousands	Dec. 31, 2021	Dec. 31, 2020
Condensed Financial Information of Parent Company [Line Items]
Common shares, shares issued (in shares)	176,580	176,580
Common Stock, Shares, Outstanding	84,774	84,353
Treasury shares (in shares)	91,806	92,227
AXIS Capital Holdings Limited
Condensed Financial Information of Parent Company [Line Items]
Common shares, shares issued (in shares)	176,580	176,580
Common Stock, Shares, Outstanding	84,774	84,353
Treasury shares (in shares)	91,806	92,227

SCHEDULE II - CONDENSED BALAN_3

SCHEDULE II - CONDENSED BALANCE SHEETS - Footnotes (Details) - USD ($)	Dec. 31, 2021	Dec. 10, 2019	Jun. 19, 2019	Dec. 06, 2017	Mar. 13, 2014
Senior Notes | Senior Notes Due 2045 Axis Specialty Finance PLC 2014
Condensed Financial Information of Parent Company [Line Items]
Interest rate					5.15%
Senior Notes | Senior Notes Axis Specialty Finance PLC 2017
Condensed Financial Information of Parent Company [Line Items]
Interest rate				4.00%
Senior Notes | 3.900% Senior Notes
Condensed Financial Information of Parent Company [Line Items]
Interest rate			3.90%
Aggregate Principal			$ 300,000,000
Junior Subordinated Notes
Condensed Financial Information of Parent Company [Line Items]
Interest rate		4.90%
Aggregate Principal		$ 425,000,000
AXIS Specialty Finance LLC | Junior Subordinated Notes
Condensed Financial Information of Parent Company [Line Items]
Interest rate		4.90%
Subsidiary Issuer | AXIS Specialty Finance PLC
Condensed Financial Information of Parent Company [Line Items]
Percentage ownership in subsidiary	100.00%			100.00%	100.00%
Subsidiary Issuer | AXIS Specialty Finance LLC
Condensed Financial Information of Parent Company [Line Items]
Percentage ownership in subsidiary	100.00%		100.00%
Full and Unconditional Guarantee of Debt | Subsidiary Issuer | AXIS Specialty Finance PLC | Senior Notes | Senior Notes Due 2045 Axis Specialty Finance PLC 2014
Condensed Financial Information of Parent Company [Line Items]
Interest rate	5.15%
Aggregate Principal	$ 250,000,000
Full and Unconditional Guarantee of Debt | Subsidiary Issuer | AXIS Specialty Finance PLC | Senior Notes | Senior Notes Axis Specialty Finance PLC 2017
Condensed Financial Information of Parent Company [Line Items]
Interest rate	4.00%
Aggregate Principal	$ 350,000,000
Full and Unconditional Guarantee of Debt | Subsidiary Issuer | AXIS Specialty Finance LLC | Senior Notes | 3.900% Senior Notes
Condensed Financial Information of Parent Company [Line Items]
Interest rate	3.90%
Aggregate Principal	$ 300,000,000
Full and Unconditional Guarantee of Debt | Subsidiary Issuer | AXIS Specialty Finance LLC | Junior Subordinated Notes | 2010 AXIS Specialty Finance LLC Senior Notes
Condensed Financial Information of Parent Company [Line Items]
Interest rate	4.90%
Aggregate Principal	$ 425,000,000

SCHEDULE II - CONDENSED STATEME

SCHEDULE II - CONDENSED STATEMENTS OF OPERATIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues
Total revenues	$ 5,321,725	$ 4,841,954	$ 5,173,427
Expenses
Net income (loss)	618,609	(120,424)	323,473
Preferred share dividends	30,250	30,250	41,112
Net income (loss) available (attributable) to common shareholders	588,359	(150,674)	282,361
Comprehensive income	260,750	122,261	672,293
AXIS Capital Holdings Limited
Revenues
Net investment income	0	750	1,800
Total revenues	0	750	1,800
Expenses
General and administrative expenses	62,843	37,629	53,335
Total expenses	62,843	37,629	53,335
Income (loss) before equity in net income (loss) of subsidiaries	(62,843)	(36,879)	(51,535)
Equity in net income (loss) of subsidiaries	681,452	(83,545)	375,008
Net income (loss)	618,609	(120,424)	323,473
Preferred share dividends	30,250	30,250	41,112
Net income (loss) available (attributable) to common shareholders	588,359	(150,674)	282,361
Comprehensive income	$ 260,750	$ 122,261	$ 672,293

SCHEDULE II - CONDENSED STATE_2

SCHEDULE II - CONDENSED STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 618,609	$ (120,424)	$ 323,473
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Other items	155,979	(97,064)	(94,379)
Net cash provided by operating activities	1,114,822	343,503	199,004
Cash flows from financing activities:
Taxes paid on withholding shares	(10,242)	(10,382)	(10,165)
Dividends paid - common shares	(145,603)	(141,590)	(137,209)
Repurchase of preferred shares	0	(225,000)	0
Dividends paid - preferred shares	(30,250)	(31,831)	(42,625)
Net cash used in financing activities	(186,095)	(908,803)	277,510
Increase (decrease) in cash, cash equivalents and restricted cash	(185,542)	(73,225)	(253,563)
Cash, cash equivalents and restricted cash - beginning of year	1,503,232	1,576,457	1,830,020
Cash, cash equivalents and restricted cash - end of year	1,317,690	1,503,232	1,576,457
AXIS Capital Holdings Limited
Cash flows from operating activities:
Net income	618,609	(120,424)	323,473
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in net (income) loss of subsidiaries	(681,452)	83,545	(375,008)
Change in intercompany payable	(96,868)	73,575	(32,081)
Dividends received from subsidiaries	300,000	350,000	250,000
Other items	45,626	20,715	23,619
Net cash provided by operating activities	185,915	407,411	190,003
Cash flows from financing activities:
Taxes paid on withholding shares	(10,242)	(10,382)	(10,165)
Dividends paid - common shares	(145,603)	(141,590)	(137,209)
Repurchase of preferred shares	0	(225,000)	0
Dividends paid - preferred shares	(30,250)	(31,831)	(42,625)
Net cash used in financing activities	(186,095)	(408,803)	(189,999)
Increase (decrease) in cash, cash equivalents and restricted cash	(180)	(1,392)	4
Cash, cash equivalents and restricted cash - beginning of year	1,711	3,103	3,099
Cash, cash equivalents and restricted cash - end of year	$ 1,531	$ 1,711	$ 3,103

SCHEDULE III - SUPPLEMENTARY _2

SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplementary Insurance Information [Line Items]
Deferred acquisition costs	$ 465,593	$ 431,439	$ 492,119
Reserve for losses and loss expenses	14,653,094	13,926,766	12,752,081
Unearned premiums	4,090,676	3,685,886	3,626,246
Net premiums earned	4,709,850	4,371,309	4,587,178
Net investment income	454,301	349,601	478,572
Net losses and loss expenses	3,008,783	3,281,252	3,044,798
Acquisition costs	921,834	929,517	1,024,582
Other operating expenses	663,304	579,790	634,831
Net premiums written	4,926,624	4,336,409	4,489,615
General and administrative expenses	663,304	579,790	634,831
Operating Segments
Supplementary Insurance Information [Line Items]
General and administrative expenses	536,834	477,968	505,735
Operating Segments | Insurance
Supplementary Insurance Information [Line Items]
Deferred acquisition costs	212,681	176,749	191,925
Reserve for losses and loss expenses	7,803,529	7,310,498	6,496,568
Unearned premiums	2,716,240	2,295,763	2,115,664
Net premiums earned	2,651,339	2,299,038	2,190,084
Net investment income	0	0	0
Net losses and loss expenses	1,514,998	1,697,014	1,278,679
Acquisition costs	484,344	461,533	468,281
Other operating expenses	429,282	378,839	401,963
Net premiums written	2,894,885	2,357,501	2,209,155
General and administrative expenses	429,282	378,839	401,963
Operating Segments | Reinsurance
Supplementary Insurance Information [Line Items]
Deferred acquisition costs	252,912	254,690	300,194
Reserve for losses and loss expenses	6,849,565	6,616,268	6,255,513
Unearned premiums	1,374,436	1,390,123	1,510,582
Net premiums earned	2,058,511	2,072,271	2,397,094
Net investment income	0	0	0
Net losses and loss expenses	1,493,785	1,584,238	1,766,119
Acquisition costs	437,490	467,984	556,301
Other operating expenses	107,552	99,129	103,772
Net premiums written	2,031,739	1,978,908	2,280,460
General and administrative expenses	107,552	99,129	103,772
Corporate
Supplementary Insurance Information [Line Items]
Deferred acquisition costs	0	0	0
Reserve for losses and loss expenses	0	0	0
Unearned premiums	0	0	0
Net premiums earned	0	0	0
Net investment income	454,301	349,601	478,572
Net losses and loss expenses	0	0	0
Acquisition costs	0	0	0
Other operating expenses	126,470	101,822	129,096
Net premiums written	0	0	0
General and administrative expenses	$ 126,470	$ 101,822	$ 129,096

SCHEDULE IV - SUPPLEMENTARY R_2

SCHEDULE IV - SUPPLEMENTARY REINSURANCE INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplementary Insurance Information [Line Items]
GROSS AMOUNT	$ 4,405,452	$ 3,610,201	$ 3,275,997
CEDED TO OTHER COMPANIES	2,759,360	2,490,529	2,409,243
ASSUMED FROM OTHER COMPANIES	3,280,532	3,216,737	3,622,861
NET AMOUNT	$ 4,926,624	$ 4,336,409	$ 4,489,615
PERCENTAGE OF AMOUNT ASSUMED TO NET	66.60%	74.20%	80.70%
Property and Casualty
Supplementary Insurance Information [Line Items]
GROSS AMOUNT	$ 4,233,758	$ 3,455,690	$ 3,134,462
CEDED TO OTHER COMPANIES	2,700,693	2,446,890	2,311,001
ASSUMED FROM OTHER COMPANIES	2,874,687	2,840,834	3,187,623
NET AMOUNT	$ 4,407,752	$ 3,849,634	$ 4,011,084
PERCENTAGE OF AMOUNT ASSUMED TO NET	65.20%	73.80%	79.50%
Accident and health
Supplementary Insurance Information [Line Items]
GROSS AMOUNT	$ 171,694	$ 154,511	$ 141,535
CEDED TO OTHER COMPANIES	58,667	43,639	98,242
ASSUMED FROM OTHER COMPANIES	405,845	375,903	435,238
NET AMOUNT	$ 518,872	$ 486,775	$ 478,531
PERCENTAGE OF AMOUNT ASSUMED TO NET	78.20%	77.20%	91.00%