AXIS Capital Holdings Limited (AXS) 10-K 24 Feb 23 2022 FY Annual report Financial data

COVER

COVER - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Feb. 22, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-31721
Entity Registrant Name	AXIS CAPITAL HOLDINGS LTD
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			$ 4.8
Entity Common Stock, Shares Outstanding		84,710,662
Documents Incorporated by Reference	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 4, 2023 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, 2022.
Amendment flag	false
Document fiscal year focus	2022
Document fiscal period focus	FY
Entity central index key	0001214816
Common shares
Document Information [Line Items]
Title of 12(b) Security	Common shares, par value $0.0125 per share
Trading Symbol	AXS
Security Exchange Name	NYSE
Depositary shares, each representing a 1/100th interest in a 5.50% Series E preferred share
Document Information [Line Items]
Title of 12(b) Security	Depositary shares, each representing a 1/100th interest in a 5.50% Series E preferred share
Trading Symbol	AXS PRE
Security Exchange Name	NYSE

AUDIT INFORMATION

AUDIT INFORMATION	12 Months Ended
	Dec. 31, 2022
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, 2022	Dec. 31, 2021
Investments:
Fixed maturities, available for sale, at fair value (Amortized cost 2022: $12,176,473; 2021: $12,241,782 Allowance for expected credit losses 2022: $11,733; 2021: $313)	$ 11,326,894	$ 12,313,200
Fixed maturities, held to maturity, at amortized cost (Fair value 2022: $674,743; 2021: 445,033 Allowance for expected credit losses 2022: $nil; 2021: $nil)	698,351	446,016
Equity securities, at fair value (Cost 2022: $494,356; 2021: $528,864)	485,253	655,675
Mortgage loans, held for investment, at fair value (Allowance for expected credit losses 2022: $nil; 2021: $nil)	627,437	594,088
Other investments, at fair value	996,751	947,982
Equity method investments	148,288	146,293
Short-term investments, at fair value	70,310	31,063
Total investments	14,353,284	15,134,317
Cash and cash equivalents	751,415	844,592
Restricted cash and cash equivalents	423,238	473,098
Accrued interest receivable	94,418	64,350
Insurance and reinsurance premium balances receivable (Allowance for expected credit losses 2022: $9,521; 2021: $7,567)	2,733,464	2,622,676
Reinsurance recoverable on unpaid losses and loss expenses (Allowance for expected credit losses 2022: $30,715; 2021: $29,554)	5,831,172	5,017,611
Reinsurance recoverable on paid losses and loss expenses	539,676	642,215
Deferred acquisition costs	473,569	465,593
Prepaid reinsurance premiums	1,550,370	1,377,358
Receivable for investments sold	16,052	4,555
Goodwill	100,801	100,801
Intangible assets	197,800	208,717
Operating lease right-of-use assets	92,214	103,295
Other assets	438,338	309,792
Total assets	27,595,811	27,368,970
Liabilities
Reserve for losses and loss expenses	15,168,863	14,653,094
Unearned premiums	4,361,447	4,090,676
Insurance and reinsurance balances payable	1,522,764	1,324,620
Debt	1,312,314	1,310,975
Federal Home Loan Bank advances	81,388	0
Payable for investments purchased	19,693	31,543
Operating lease liabilities	102,577	119,512
Other liabilities	386,855	427,894
Total liabilities	22,955,901	21,958,314
Commitments and Contingencies
Shareholders' equity
Preferred shares	550,000	550,000
Common shares (shares issued 2022: 176,580; 2021: 176,580 shares outstanding 2022: 84,668; 2021: 84,774)	2,206	2,206
Additional paid-in capital	2,366,253	2,346,179
Accumulated other comprehensive income (loss)	(760,300)	56,536
Retained earnings	6,247,022	6,204,745
Treasury shares, at cost (2022: 91,912; 2021: 91,806)	(3,765,271)	(3,749,010)
Total shareholders’ equity	4,639,910	5,410,656
Total liabilities and shareholders’ equity	$ 27,595,811	$ 27,368,970

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Fixed maturities, available for sale, amortized cost	$ 12,176,473,000	$ 12,241,782,000
Fixed maturities, available for sale, allowance for credit loss	11,733,000	313,000	$ 323,000	$ 0
Fixed maturities, held to maturity, fair value	674,743,000	445,033,000
Fixed maturities, held to maturity, allowance for credit loss	0	0
Equity securities, cost	494,356,000	528,864,000
Credit losses associated with commercial mortgage loans	0	0
Allowance for credit losses on premium balances receivable	9,521,000	7,567,000
Allowance for credit losses on reinsurance recoverable for unpaid losses and loss expenses	$ 30,715,000	$ 29,554,000	$ 24,000,000
Common shares, shares issued (in shares)	176,580	176,580
Common shares, shares outstanding (in shares)	84,668	84,774
Treasury shares (in shares)	91,912	91,806

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Net premiums earned	$ 5,160,326	$ 4,709,850	$ 4,371,309
Net investment income	418,829	454,301	349,601
Other insurance related income (loss)	13,073	23,295	(8,089)
Net investment gains:
Allowance for expected credit losses	(11,421)	11	(323)
Impairment losses	(12,568)	(22)	(1,486)
Other realized and unrealized investment gains (losses)	(432,800)	134,290	130,942
Total net investment gains (losses)	(456,789)	134,279	129,133
Total revenues	5,135,439	5,321,725	4,841,954
Expenses
Net losses and loss expenses	3,242,410	3,008,783	3,281,252
Acquisition costs	1,022,017	921,834	929,517
General and administrative expenses	680,343	663,304	579,790
Foreign exchange losses (gains)	(157,945)	315	81,069
Interest expense and financing costs	63,146	62,302	75,049
Reorganization expenses	31,426	0	7,881
Amortization of value of business acquired	0	3,854	5,139
Amortization of intangible assets	10,917	12,424	11,390
Total expenses	4,892,314	4,672,816	4,971,087
Income (loss) before income taxes and interest in income (loss) of equity method investments	243,125	648,909	(129,133)
Income tax (expense) benefit	(22,037)	(62,384)	12,321
Interest in income (loss) of equity method investments	1,995	32,084	(3,612)
Net income (loss)	223,083	618,609	(120,424)
Preferred share dividends	30,250	30,250	30,250
Net income (loss) available (attributable) to common shareholders	$ 192,833	$ 588,359	$ (150,674)
Earnings (loss) per common share:
Earnings (loss) per common share (in dollars per share)	$ 2.27	$ 6.95	$ (1.79)
Earnings (loss) per diluted common share (in dollars per share)	$ 2.25	$ 6.90	$ (1.79)
Weighted average common shares outstanding (in shares)	84,864	84,707	84,262
Weighted average diluted common shares outstanding (in shares)	85,669	85,291	84,262

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net income (loss)	$ 223,083	$ 618,609	$ (120,424)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) arising during the year, net of reclassification adjustment	(805,850)	(358,480)	239,114
Foreign currency translation adjustment	(10,986)	621	3,571
Total other comprehensive income (loss), net of tax	(816,836)	(357,859)	242,685
Comprehensive income (loss)	(593,753)	260,750	122,261
Unrealized gains (losses) on available for sale investments
Other comprehensive income (loss), net of tax:
Adjustment for reclassification of net realized (gains) losses and impairment losses recognized in net income (loss)	304,925	(87,114)	(78,012)
Unrealized gains (losses) arising during the year, net of reclassification adjustment	(805,850)	(358,480)	239,114
Unrealized gains (losses) on available for sale investments | Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) arising during the year	(1,043,625)	(271,447)	317,166
Unrealized gains (losses) on available for sale investments | Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has been recognized
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) arising during the year	$ (67,150)	$ 81	$ (40)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - USD ($) $ in Thousands		Total	Preferred stocks	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, 2019			$ 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)
Stockholders' Equity Attributable to Parent, Ending Balance 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]
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)
Stockholders' Equity Attributable to Parent, Ending Balance 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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury shares reissued					(31,175)					32,720
Share-based compensation expense					51,249
Unrealized gains (losses) arising during the year, net of reclassification adjustment		(805,850)					(805,850)
Foreign currency translation adjustment		(10,986)						(10,986)
Net income (loss)		223,083							223,083
Preferred share dividends	[1]								(30,250)
Common share dividends	[1]								(150,556)
Shares repurchased										(48,981)
Stockholders' Equity Attributable to Parent, Ending Balance at Dec. 31, 2022		$ 4,639,910	$ 550,000	$ 2,206	$ 2,366,253	$ (760,300)	$ (743,695)	$ (16,605)	$ 6,247,022	$ (3,765,271)
[1]Refer to Note 15 '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, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 223,083	$ 618,609	$ (120,424)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Net investment (gains) losses	456,789	(134,279)	(129,133)
Net realized and unrealized gains on other investments	(55,757)	(180,329)	(16,059)
Amortization of fixed maturities	26,138	35,839	32,893
Interest in (income) loss of equity method investments	(1,995)	(32,084)	3,612
Amortization of value of business acquired	0	3,854	5,139
Other amortization and depreciation	68,288	66,977	65,797
Share-based compensation expense, net of cash payments	48,494	37,744	29,005
Changes in:
Accrued interest receivable	(30,432)	633	13,097
Reinsurance recoverable on unpaid losses and loss expenses	(825,608)	(527,362)	(618,040)
Reinsurance recoverable on paid losses and loss expenses	101,691	(207,429)	(105,820)
Deferred acquisition costs	(10,548)	(34,386)	60,828
Prepaid reinsurance premiums	(176,498)	(185,646)	(94,122)
Reserve for losses and loss expenses	544,459	737,342	1,178,292
Unearned premiums	287,082	409,858	62,999
Insurance and reinsurance balances, net	82,878	349,502	72,503
Other items	(45,848)	155,979	(97,064)
Net cash provided by operating activities	692,216	1,114,822	343,503
Purchases of:
Fixed maturities, available for sale	(7,476,440)	(12,133,755)	(10,494,198)
Fixed maturities, held to maturity	(255,610)	(196,775)	0
Equity securities	(94,324)	(137,247)	(117,883)
Mortgage loans	(117,023)	(145,832)	(199,259)
Other investments	(147,717)	(263,712)	(166,602)
Short-term investments	(176,968)	(159,056)	(365,170)
Proceeds from the sale of:
Fixed maturities, available for sale	6,110,148	9,203,241	9,784,137
Equity securities	138,542	24,862	119,381
Other investments	156,719	324,810	166,976
Short-term investments	116,752	177,672	171,976
Proceeds from redemption of fixed maturities, available for sale	1,018,922	1,817,482	1,526,396
Proceeds from redemption of fixed maturities, held to maturity	3,541	155,809	0
Proceeds from redemption of short-term investments	20,124	111,417	69,707
Proceeds from the repayment of mortgage loans	84,365	145,621	39,121
Purchase of other assets	(36,829)	(38,732)	(44,661)
Net cash provided by (used in) investing activities	(655,798)	(1,114,195)	489,921
Cash flows from financing activities:
Redemption of senior notes	0	0	(500,000)
Repurchase of preferred shares	0	0	(225,000)
Repurchase of common shares - open market	(34,987)		0
Taxes paid on withholding shares	(13,994)	(10,242)	(10,382)
Dividends paid - common shares	(149,341)	(145,603)	(141,590)
Dividends paid - preferred shares	(30,250)	(30,250)	(31,831)
Federal Home Loan Bank advances, net	78,950	0	0
Net cash used in financing activities	(149,622)	(186,095)	(908,803)
Effect of exchange rate changes on foreign currency cash, cash equivalents and restricted cash	(29,833)	(74)	2,154
Decrease in cash, cash equivalents and restricted cash	(143,037)	(185,542)	(73,225)
Cash, cash equivalents and restricted cash - beginning of year	1,317,690	1,503,232	1,576,457
Cash, cash equivalents and restricted cash - end of year	1,174,653	1,317,690	1,503,232
Supplemental disclosures of cash flow information:
Income taxes paid	33,418	45,083	4,414
Interest paid	$ 59,886	$ 59,400	$ 54,108

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Federal Home Loan Bank advances	$ 81,388
Federal Home Loan Bank of Chicago
Federal Home Loan Bank advances	81,000
Transfer of FHLB stock	$ 2,000

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2022
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 is a global specialty underwriter and provider of insurance and reinsurance solutions. 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 lines 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 lines 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 submitted an application to have its UK Branch fully regulated by the Prudential Regulation Authority ("PRA") and the U.K. Financial Conduct Authority ("FCA") as a third-country branch. This application was approved by the PRA and FCA on October 28, 2022. Therefore, the UK Branch of AXIS Specialty Europe SE is now fully regulated in the U.K. • 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 ILS, Ltd. (formerly 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, 2022
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 total 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 A fixed maturity, available for sale security is 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. 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. 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 maturities, 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 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. 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 charged to net income (loss) and 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. 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. 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 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 (loss) 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 (refer to Note 2(d) ' Losses and Loss Expenses ' below). Insurance and reinsurance premium balances receivable ("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. 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 facultative and treaty 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. 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. 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 net income over the claims 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 total 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 in either other assets or other liabilities in the consolidated balance sheets. Subsequent changes in fair value and realized gains (losses) are recognized in net income (loss) 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 (loss), 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 reported in the consolidated balance sheets and those reported 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, 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, 2022
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 professional lines, property, liability, cyber, marine and aviation, accident and health, and credit and political risk. Reinsurance The Company's reinsurance segment provides treaty reinsurance to insurance companies on a worldwide basis. The product lines in this segment are liability, accident and health, professional lines, credit and surety, motor, agriculture, marine and aviation, catastrophe, property and engineering. 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, 2022 Insurance Reinsurance Total Gross premiums written $ 5,585,581 $ 2,629,014 $ 8,214,595 Net premiums written 3,377,906 1,885,150 5,263,056 Net premiums earned 3,134,155 2,026,171 5,160,326 Other insurance related income 559 12,514 13,073 Net losses and loss expenses (1,785,854) (1,456,556) (3,242,410) Acquisition costs (577,838) (444,179) (1,022,017) Underwriting-related general and administrative expenses (443,704) (106,585) (550,289) Underwriting income $ 327,318 $ 31,365 358,683 Net investment income 418,829 Net investment gains (losses) (456,789) Corporate expenses (130,054) Foreign exchange gains 157,945 Interest expense and financing costs (63,146) Reorganization expenses (31,426) Amortization of value of business acquired — Amortization of intangible assets (10,917) Income before income taxes and interest in income of equity method investments 243,125 Income tax expense (22,037) Interest in income of equity method investments 1,995 Net income 223,083 Preferred share dividends 30,250 Net income available to common shareholders $ 192,833 Net losses and loss expenses ratio 57.0 % 71.9 % 62.8 % Acquisition cost ratio 18.4 % 21.9 % 19.8 % General and administrative expense ratio 14.2 % 5.3 % 13.2 % Combined ratio 89.6 % 99.1 % 95.8 % Goodwill and intangible assets $ 298,601 $ — $ 298,601 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 The following table presents gross premiums written by the geographical location of the Company's subsidiaries: Years ended December 31, 2022 2021 2020 U.S. $ 4,342,707 $ 4,002,748 $ 3,398,108 Ireland 1,931,815 1,667,496 1,516,596 Lloyd's of London 1,567,458 1,473,047 1,309,802 Bermuda 372,615 542,693 602,432 Gross premiums written $ 8,214,595 $ 7,685,984 $ 6,826,938 The following table presents net premiums earned by segment and line of business: Years ended December 31, 2022 2021 2020 Insurance Professional lines $ 817,924 $ 646,390 $ 509,448 Property 755,986 711,297 653,186 Liability 459,775 354,787 315,434 Cyber 309,004 252,077 206,720 Marine and aviation 479,499 439,050 364,656 Accident and health 209,548 151,133 143,725 Credit and political risk 102,419 96,605 105,869 Total Insurance 3,134,155 2,651,339 2,299,038 Reinsurance Liability 484,681 431,596 397,894 Accident and health 368,747 361,196 333,997 Professional lines 250,911 220,448 207,605 Credit and surety 192,926 158,549 187,722 Motor 205,774 247,099 256,064 Agriculture 122,289 82,743 73,697 Marine and aviation 78,504 58,775 53,513 Run-off lines Catastrophe 156,232 238,775 244,934 Property 135,480 231,092 256,324 Engineering 30,627 28,238 60,521 Total run-off lines 322,339 498,105 561,779 Total Reinsurance 2,026,171 2,058,511 2,072,271 Total $ 5,160,326 $ 4,709,850 $ 4,371,309

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2022
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, 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 — — — — At December 31, 2022 Gross amount 95,890 120,784 394,604 611,278 Accumulated amortization n/a n/a (306,671) (306,671) Accumulated translation adjustment 4,911 — — 4,911 100,801 120,784 87,933 309,518 Amortization n/a n/a (10,917) (10,917) Impairment charges — — — — $ 100,801 $ 120,784 $ 77,016 $ 298,601 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 The Company's impairment review of goodwill and indefinite lived intangibles did not result in the recognition of an impairment loss for the years ended December 31, 2022 and 2021. For the year ended December 31, 2020, an impairment loss of $1 million was recognized related to the exit from certain program business. The tables below provide details of the gross amount and accumulated amortization by category of value of business acquired ("VOBA") and intangible assets: VOBA and intangible assets At December 31, 2022 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 (10,329) 3,001 VOBA - Novae (2) 256,942 (256,942) — Coverholders (2) 63,565 (27,812) 35,753 Large brokers (2) 46,641 (16,325) 30,316 SME brokers (2) 14,126 (6,180) 7,946 $ 515,388 $ (317,588) $ 197,800 n/a – not applicable (1) On April 1, 2015, the Company completed its acquisition of Ternian Insurance Group LLC (renamed AXIS Group Benefits LLC in 2022) 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 VOBA, distribution networks, and indefinite lived intangible assets related to Lloyd's syndicate capacity, all detailed above. 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 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 2023 $ 10,916 2024 10,916 2025 9,921 2026 9,583 2027 9,583 After 2027 26,097 Total remaining amortization expense 77,016 Indefinite lived intangible assets 120,784 Total intangible assets $ 197,800 The estimated remaining average useful life of finite lived intangible assets is 8 years.

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	a) Fixed Maturities, Available for Sale 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, 2022 Available for sale U.S. government and agency $ 2,731,733 $ — $ 5,386 $ (97,789) $ 2,639,330 Non-U.S. government 612,546 — 2,395 (52,912) 562,029 Corporate debt 4,680,798 (11,521) 5,269 (418,990) 4,255,556 Agency RMBS (1) 1,297,423 — 4,663 (99,301) 1,202,785 CMBS (2) 1,029,863 — 60 (82,145) 947,778 Non-agency RMBS 151,907 (123) 275 (18,525) 133,534 ABS (3) 1,499,728 (35) 555 (70,721) 1,429,527 Municipals (4) 172,475 (54) 139 (16,205) 156,355 Total fixed maturities, available for sale $ 12,176,473 $ (11,733) $ 18,742 $ (856,588) $ 11,326,894 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 (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. Contractual 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, 2022 Maturity Due in one year or less $ 422,039 $ 409,972 3.7 % Due after one year through five years 5,349,123 5,078,273 44.8 % Due after five years through ten years 2,192,344 1,919,450 16.9 % Due after ten years 234,046 205,575 1.8 % 8,197,552 7,613,270 67.2 % Agency RMBS 1,297,423 1,202,785 10.6 % CMBS 1,029,863 947,778 8.4 % Non-agency RMBS 151,907 133,534 1.2 % ABS 1,499,728 1,429,527 12.6 % Total $ 12,176,473 $ 11,326,894 100.0 % 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 % 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, 2022 Fixed maturities, available for sale U.S. government and agency $ 467,032 $ (41,365) $ 1,414,181 $ (56,424) $ 1,881,213 $ (97,789) Non-U.S. government 207,637 (33,027) 298,048 (19,885) 505,685 (52,912) Corporate debt 1,562,355 (268,289) 2,350,504 (150,701) 3,912,859 (418,990) Agency RMBS 220,595 (40,469) 771,191 (58,832) 991,786 (99,301) CMBS 343,494 (40,888) 599,877 (41,257) 943,371 (82,145) Non-agency RMBS 75,137 (14,691) 53,484 (3,834) 128,621 (18,525) ABS 685,990 (48,913) 686,190 (21,808) 1,372,180 (70,721) Municipals 52,994 (10,120) 96,003 (6,085) 148,997 (16,205) Total fixed maturities, available for sale $ 3,615,234 $ (497,762) $ 6,269,478 $ (358,826) $ 9,884,712 $ (856,588) 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, 2022, 4,525 fixed maturities (2021: 2,333) were in an unrealized loss position of $857 million (2021: $94 million) of which $64 million (2021: $8 million) was related to securities below investment grade or not rated. At December 31, 2022, 1,842 fixed maturities (2021: 344) had been in a continuous unrealized loss position for twelve months or greater and had a fair value of $3,615 million (2021: $390 million). The unrealized losses of $857 million (2021: $94 million) were due to non-credit factors and were expected to be recovered as the related securities approach maturity. At December 31, 2022, 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) Fixed Maturities, 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, 2022 Held to maturity Corporate debt $ 85,200 $ — $ 85,200 $ — $ (11,428) $ 73,772 ABS (1) 613,151 — 613,151 — (12,180) 600,971 Total fixed maturities, held to maturity $ 698,351 $ — $ 698,351 $ — $ (23,608) $ 674,743 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. At December 31, 2022, fixed maturities, held to maturity of $698 million (2021: $446 million) were presented net of an allowance for expected credit losses of $nil (2021: $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, 2022, 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, 2022, the allowance for credit losses expected to be recognized over the life of the Company's corporate debt, held to maturity was $nil. Contractual 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. ABS classified as held to maturity with a net carrying value of $613 million (2021: $408 million) 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 $81 million (2021: $34 million) is due between 3 years and 10 years and corporate debt classified as held to maturity with a net carrying value of $4 million (2021: $4 million) is due after ten years. c) Equity Securities The following table provides the cost and fair values of the Company's equity securities: Cost Gross Gross Fair At December 31, 2022 Equity securities Common stocks $ 7,279 $ 636 $ (442) $ 7,473 Preferred stocks 115 — (43) 72 Exchange-traded funds 207,505 68,058 (5,757) 269,806 Bond mutual funds 279,457 — (71,555) 207,902 Total equity securities $ 494,356 $ 68,694 $ (77,797) $ 485,253 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 d) Mortgage Loans The following table provides details of the Company's mortgage loans held for investment: December 31, 2022 December 31, 2021 Carrying value % of Total Carrying value % of Total Mortgage loans held for investment: Commercial $ 627,437 100 % $ 594,088 100 % Total mortgage loans held for investment $ 627,437 100 % $ 594,088 100 % 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 2.3x (2021: 2.5x) and a weighted average loan-to-value ratio of 60% (2021: 60%) . At December 31, 2022 and 2021, there were no credit losses or past due amounts associated with the commercial mortgage loans held by the Company. e) 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, 2022 Long/short equity funds $ — — % n/a n/a Multi-strategy funds 32,616 3 % Quarterly 60-90 days Direct lending funds 258,626 26 % Quarterly (1) 90 days Private equity funds 265,836 27 % n/a n/a Real estate funds 298,499 30 % Quarterly (2) , Annually (3) 45-90 days CLO-Equities 5,016 — % n/a n/a Other privately held investments 136,158 14 % n/a n/a Total other investments $ 996,751 100 % 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 Total other investments $ 947,982 100 % n/a – not applicable (1) Applies to one fund with a fair value of $39 million (2021: $47 million). (2) Applies to one fund with a fair value of $73 million (2021: $73 million). (3) Applies to one fund with a fair value of $27 million (2021: $nil). 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 2022 and 2021, neither of these restrictions impacted the Company's redemption requests. At December 31, 2022, there were no hedge fund holdings (2021: $3 million) where the Company is still within the lockup period. At December 31, 2022, the Company had $26 million (2021: $23 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, 2022, the Company had $183 million (2021: $224 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, 2022, the Company had $158 million (2021: $178 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. At December 31, 2022, the Company had $141 million (2021: $173 million) of unfunded commitments as a limited partner in real estate funds. These funds include an open-ended fund and funds with investment terms ranging from two years to the dissolution of the underlying fund. f) 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 Variable Interest Entities ("VIEs") 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. g) Variable Interest Entities 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 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(e) ' 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. h) Net Investment Income Net investment income was derived from the following sources: Year ended December 31, 2022 2021 2020 Fixed maturities $ 329,858 $ 262,049 $ 317,121 Other investments 57,043 181,906 16,059 Equity securities 10,390 12,752 9,328 Mortgage loans 23,407 17,427 15,432 Cash and cash equivalents 20,273 4,454 13,582 Short-term investments 3,535 664 2,749 Gross investment income 444,506 479,252 374,271 Investment expenses (25,677) (24,951) (24,670) Net investment income $ 418,829 $ 454,301 $ 349,601 i) Net Investment Gains (Losses) The following table provides an analysis of net investment gains (losses): Year ended December 31, 2022 2021 2020 Gross realized investment gains Fixed maturities and short-term investments $ 16,671 $ 137,729 $ 186,726 Equity securities 7,687 5,413 25,648 Gross realized investment gains 24,358 143,142 212,374 Gross realized investment losses Fixed maturities and short-term investments (328,493) (42,613) (94,607) Equity securities (406) (696) (5,840) Gross realized investment losses (328,899) (43,309) (100,447) Change in allowance for expected credit losses (11,421) 11 (323) Impairment losses (1) (12,568) (22) (1,486) Change in fair value of investment derivatives (2) 7,656 4,346 (2,434) Net unrealized gains (losses) on equity securities (135,915) 30,111 21,449 Net investment gains (losses) $ (456,789) $ 134,279 $ 129,133 (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, 2022 2021 2020 Balance at beginning of period $ 313 $ 323 $ — Expected credit losses on securities where credit losses were not previously recognized 17,830 95 22,570 Additions (reductions) for expected credit losses on securities where credit losses were previously recognized (3,831) 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 (2,579) (155) (10,705) Balance at end of period $ 11,733 $ 313 $ 323 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 (loss). 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 (loss). 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, 2022, the gross unrealized losses of $53 million includ ed foreign exchange losses of $24 million . At December 31, 2022, the Company does not anticipate any credit losses on its non-U.S. government fixed maturities. At December 31, 2021, the gross unrealized losses of $10 million and were mainly due to foreign exchange losses. At December 31, 2021, 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 . At December 31, 2022 and 2021, 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, 2022, CMBS had a weighted average estimated subordination percentage of 38% (2021: 37%). Based on discounted cash flows at December 31, 2022 and 2021, 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. At December 31, 2022, the fair value of the Company's non-agency RMBS was $134 million (2021: $186 million), consisting primarily of $39 million (2021: $87 million) of Prime and $76 million (2021: $74 million) of Alt-A MBS. At December 31, 2022 and 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 2022. 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, 2022, the allowance for expected credit losses on ABS related to loss severity where the forecasted recovery to amortized cost is uncertain. At December 31, 2021, the Company did not anticipate any credit losses on its CLO Debt. Municipals Municipal 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, 2022, the allowance for expected credit losses on municipals related to loss severity where the forecasted recovery to amortized cost is uncertain. At December 31, 2021, the Company did not anticipate any credit losses on its municipal securities. j) 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 12 'Commitments and Contingencies' and Note 22 ' Statutory Financial Information' ). At December 31, 2022, collateral held in trust for third-party agreements of $2,491 million (2021: $2,413 million) in cluded $539 million (2021: $507 million) of fixed maturities, and cash of $217 million (2021: $326 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, 2022 2021 Collateral in Trust for inter-company agreements $ 790,449 $ 886,903 Collateral for secured letter of credit facility 424,624 402,478 Funds at Lloyd's 748,573 936,862 Collateral in Trust for third-party agreements 2,491,317 2,412,882 Securities on deposit or in trust with regulatory authorities 731,660 729,072 Total restricted investments and cash $ 5,186,623 $ 5,368,197

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2022
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, 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 values of these investments are 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 consider the industry and development stage of 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. 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, 2022 Assets Fixed maturities, available for sale U.S. government and agency $ 2,600,636 $ 38,694 $ — $ — $ 2,639,330 Non-U.S. government — 562,029 — — 562,029 Corporate debt — 4,136,452 119,104 — 4,255,556 Agency RMBS — 1,202,785 — — 1,202,785 CMBS — 947,778 — — 947,778 Non-agency RMBS — 133,534 — — 133,534 ABS — 1,429,527 — — 1,429,527 Municipals — 156,355 — — 156,355 2,600,636 8,607,154 119,104 — 11,326,894 Equity securities Common stocks 7,473 — — — 7,473 Preferred stocks 72 — — — 72 Exchange-traded funds 269,806 — — — 269,806 Bond mutual funds — 207,902 — — 207,902 277,351 207,902 — — 485,253 Other investments Hedge funds (1) — — — 32,616 32,616 Direct lending funds — — — 258,626 258,626 Private equity funds — — — 265,836 265,836 Real estate funds — — — 298,499 298,499 CLO-Equities — — 5,016 — 5,016 Other privately held investments — — 136,158 — 136,158 — — 141,174 855,577 996,751 Short-term investments — 70,310 — — 70,310 Other assets Derivative instruments (refer to Note 7) — 37,682 — — 37,682 Total Assets $ 2,877,987 $ 8,923,048 $ 260,278 $ 855,577 $ 12,916,890 Liabilities Derivative instruments (refer to Note 7) $ — $ 703 $ — $ — $ 703 Cash-settled awards (refer to Note 17) — 4,792 — — 4,792 Total Liabilities $ — $ 5,495 $ — $ — $ 5,495 (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, 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 — — 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 17) — 9,091 — — 9,091 Total Liabilities $ — $ 24,078 $ 5,630 $ — $ 29,708 (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, 2022 of investments classified as Level 3 in the fair value hierarchy: Asset fair value Valuation technique Unobservable input Amount /Range Weighted Other investments - CLO-Equities $ 5,016 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 5 years 5 years Other investments - Other privately $ 17,169 Discounted cash flow Discount rate 6.6% 6.6% Default rate 0.5% 0.5% Loss absorption yield 1.0% 1.0% Estimated maturity date 1 - 3 years 2 years Note: Fixed maturities of $119 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 $119 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. 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, 2022 Fixed maturities, available for sale Corporate debt $ 42,894 $ — $ — $ (104) $ (9,014) $ 90,130 $ — $ (4,802) $ 119,104 $ — CMBS — — — — — — — — — — ABS — — — — — — — — — — 42,894 — — (104) (9,014) 90,130 — (4,802) 119,104 — Other investments CLO-Equities 5,910 — — 2,611 — — — (3,505) 5,016 2,611 Other privately held investments 104,521 — — 13,646 — 19,991 — (2,000) 136,158 13,646 110,431 — — 16,257 — 19,991 — (5,505) 141,174 16,257 Total assets $ 153,325 $ — $ — $ 16,153 $ (9,014) $ 110,121 $ — $ (10,307) $ 260,278 $ 16,257 Other liabilities Derivative instruments $ 5,630 $ — $ — $ (3,542) $ — $ — $ — $ (2,088) $ — $ — Total liabilities $ 5,630 $ — $ — $ (3,542) $ — $ — $ — $ (2,088) $ — $ — 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) (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 2022 and 2021. Transfers out of Level 3 into Level 2 There were no transfers out of Level 3 into Level 2 during 2022. 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. 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, 2022 and 2021, all funds measured at fair value using NAVs are reported generally on a one quarter 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, 2022, 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, 2022, the Company's fixed maturities, held to maturity, were recorded at amortized cost with a carrying value of $698 million (2021: $446 million) and a fair value of $675 million (2021: $445 million). 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, 2022, 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. At December 31, 2022, the Company's debt was recorded at amortized cost with a carrying value of $1,312 million (2021: $1,311 million) and a fair value of $1,160 million (2021: $1,453 million). The fair value of the Company's debt is based on prices obtained from a third-party pricing service and is 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 value of this debt is classified as Level 2.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	12 Months Ended
	Dec. 31, 2022
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, 2022 December 31, 2021 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 $ 54,076 $ 81 $ 559 $ 184,187 $ 13 $ 1,463 Relating to underwriting portfolio: Foreign exchange forward contracts 1,441,273 37,601 144 1,258,836 3,103 13,524 Other underwriting-related contracts — — — 50,000 — 5,630 Total derivatives $ 37,682 $ 703 $ 3,116 $ 20,617 (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. 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, 2022 December 31, 2021 Gross amounts Gross amounts offset Net amounts (1) Gross amounts Gross amounts offset Net amounts (1) Derivative assets $ 41,762 $ (4,080) $ 37,682 $ 9,047 $ (5,931) $ 3,116 Derivative liabilities $ 4,783 $ (4,080) $ 703 $ 26,548 $ (5,931) $ 20,617 (1) Net asset and liability derivatives are classified within other assets and other liabilities in the consolidated balance sheets. 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. 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 (loss) for derivatives not designated as hedges: Consolidated statement of operations line item that includes gain (loss) recognized Amount of gain (loss) recognized in 2022 2021 2020 Relating to investment portfolio: Foreign exchange forward contracts Net investment gains (losses) $ 7,656 $ 4,346 $ (2,434) Relating to underwriting portfolio: Foreign exchange forward contracts Foreign exchange (losses) gains (31,609) (50,738) 44,166 Other underwriting-related contracts Other insurance related income (loss) 3,542 2,742 (9,035) Total $ (20,411) $ (43,650) $ 32,697

RESERVE FOR LOSSES AND LOSS EXP

RESERVE FOR LOSSES AND LOSS EXPENSES	12 Months Ended
	Dec. 31, 2022
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 segment data is disaggregated by line of business 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. Lines of business are reviewed 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 lines of business 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 expected claim tails: Insurance segment Expected claims tail Short Medium Long Lines of business Property X Accident and health X Marine and aviation X Cyber X Professional lines X Credit and political risk X Liability X Reinsurance segment Expected claims tail Short Medium Long Lines of business Accident and health X Agriculture X Marine and aviation X Professional lines X Credit and surety X Motor X Liability X Run-off lines Catastrophe X Property X Engineering 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 lines of business. 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, in limited instances, 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 line of business 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 line of business 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, accident and health, marine and aviation lines of business in the insurance segment, and the underlying exposures in the accident and health, agriculture, marine and aviation, and run-off (catastrophe, property and engineering) lines of business 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 or underwriting 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 or underwriting years. The majority of development for an accident year or underwriting year is expected to be recognized in the subsequent one Refer to 'Net incurred and Paid Claims Development Tables by Accident Year' for further details on key actuarial assumptions associated with these lines of business. Medium-tail Business Medium-tail business generally has claim reporting and settlement periods that are longer than those of short-tail lines of business. Medium-tail business includes the underlying exposures in the cyber, professional lines, and credit and political risk lines of business in the insurance segment, and professional lines, and credit and surety lines of business 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. With respect to key actuarial assumptions, the Company relies on its loss experience when establishing expected loss ratios and selecting loss development patterns. Loss reporting patterns for medium tail lines business tend to be volatile, causing instability in actuarial indications based on incurred loss data until an accident year or underwriting year matures. Consequently, initial reserves for losses and loss expenses for an accident year or underwriting year are generally based on an ELR Method and the consideration of relevant qualitative factors. As accident years and underwriting years mature, the Company increasingly gives more weight to methods that reflect its experience until its selections are based almost exclusively on experience-based methods. The Company evaluates the appropriateness of the transition to experience-based methods at the line of business level, commencing this transition when it believes that its incurred loss development is sufficient to produce meaningful actuarial indications. The rate at which the Company transitions fully to sole reliance on experience-based methods can vary by line of business and by year, depending on its assessment of the stability and relevance of such indications. Refer to 'Net incurred and Paid Claims Development Tables by Accident Year' for further details on key actuarial assumptions associated with these lines of business. 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 line of business in the insurance segment and the liability and motor line of business 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. Key actuarial assumptions for long-tail business were derived from the Company's historical loss experience. 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. A consequence of the claim development tail is that this line of business is particularly exposed, among a number of uncertainties, to the potential for unanticipated levels of claim inflation relative to that assumed when the contracts were written. Factors influencing claim inflation on this line of business can include, but are not limited to, underlying financial and medical inflation, judicial inflation, mass tort and changing social trends. Refer to 'Net incurred and Paid Claims Development Tables by Accident Year' for further details on key actuarial assumptions associated with these lines of business. Reserving for 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, 2022. 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. 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, 2022 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, 2022. 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; • a review of the coverage provided by the Company's ceded reinsurance; • 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, 2022 based on current facts and circumstances, the Company monitors changes in paid and incurred losses in relation to each 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, ceded reinsurance and finance departments, including multiple 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, 2022 2021 Reserve for reported losses and loss expenses $ 5,555,865 $ 5,539,971 Reserve for losses incurred but not reported 9,612,998 9,113,123 Reserve for losses and loss expenses $ 15,168,863 $ 14,653,094 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, 2022 2021 2020 Gross reserve for losses and loss expenses, beginning of year $ 14,653,094 $ 13,926,766 $ 12,752,081 Less reinsurance recoverable on unpaid losses, beginning of year (5,017,611) (4,496,641) (3,877,756) Net reserve for unpaid losses and loss expenses, beginning of year 9,635,483 9,430,125 8,874,325 Net incurred losses and loss expenses related to: Current year 3,267,943 3,041,193 3,297,161 Prior years (25,533) (32,410) (15,909) 3,242,410 3,008,783 3,281,252 Net paid losses and loss expenses related to: Current year (457,857) (490,011) (571,442) Prior years (2,397,213) (2,274,240) (2,365,959) (2,855,070) (2,764,251) (2,937,401) Foreign exchange and other (685,132) (39,174) 211,949 Net reserve for unpaid losses and loss expenses, end of year 9,337,691 9,635,483 9,430,125 Reinsurance recoverable on unpaid losses, end of year 5,831,172 5,017,611 4,496,641 Gross reserve for losses and loss expenses, end of year $ 15,168,863 $ 14,653,094 $ 13,926,766 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 2022, 2021 and 2020, the Company recognized catastrophe and weather-related losses, net of reinstatement premiums, of $403 million, $443 million and $774 million. On December 9, 2022, the Company entered into loss portfolio transfer reinsurance agreements with a third-party reinsurer which were deemed to have met the established criteria for retroactive reinsurance accounting. At December 31, 2022, foreign exchange and other included an increase in reinsurance recoverable on unpaid losses of $422 million related to this transaction. At December 31, 2021, foreign exchange and other included a decrease in reinsurance recoverable on unpaid losses of $49 million related to the Reinsurance to Close of the 2018 year of account of Syndicate 2007. Estimates for Catastrophe Events At December 31, 2022, 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 include Hurricane Ian, Winter Storm Elliot, June European Convective Storms, the Russia-Ukraine war and COVID-19 in 2022, Hurricane Ida, U.S. Winter Storms Uri and Viola, and July European Floods in 2021, and the COVID-19 pandemic, Hurricanes Laura, Sally, Zeta and Delta, Midwest derecho and wildfires across the West Coast of the United States in 2020. 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: Net Favorable Prior Year Reserve Development Insurance Reinsurance Total Year ended December 31, 2022 $ 16,350 $ 9,183 $ 25,533 Year ended December 31, 2021 $ 18,360 $ 14,049 $ 32,410 Year ended December 31, 2020 $ 8,937 $ 6,972 $ 15,909 The following sections provide further details on net prior year reserve development by segment, line of business and accident year. Insurance Segment : Favorable (Adverse) Years ended December 31, 2022 2021 2020 Property $ 52,512 $ 71,032 $ 44,054 Accident and health (12,856) 15,844 2,738 Marine and aviation 27,927 42,535 23,195 Cyber 8,416 (7,329) 2,205 Professional lines (29,093) (71,258) (37,866) Credit and political risk 24,361 10,363 (745) Liability (54,917) (42,827) (24,644) Total $ 16,350 $ 18,360 $ 8,937 In 2022, we recognized $16 million of net favorable prior year reserve development, the principal components of which were: • $53 million of net favorable prior year reserve development on property business primarily due to better than expected loss emergence attributable to 2018 and 2020 catastrophe events and decreases in loss estimates attributable to specific large claims related to 2012 and older accident years. • $28 million of net favorable prior year reserve development on marine and aviation business primarily due to better than expected loss emergence attributable to the marine cargo and specie, and marine offshore energy books of business mainly related to the 2018, 2019 and 2021 accident years, and better than expected loss emergence attributable to aviation business mainly related to the 2021 accident year. • $24 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 2017 through 2021 accident years. • $8 million of net favorable prior year reserve development on cyber business primarily due to better than expected loss emergence mainly related to 2020 and older accident years, partially offset by reserve strengthening related to the 2021 accident year. • $55 million of net adverse prior year reserve development on liability business primarily due to reserve strengthening within the U.S. programs book of business mainly related to the 2016 through 2021 accident years, and the U.S. primary casualty book of business mainly related to the 2015 through 2018 and the 2021 accident years. • $29 million of net adverse prior year reserve development on professional lines business primarily due to reserve strengthening within the U.S. commercial management solutions book of business mainly related to the 2015, 2018 and 2019 accident years. • $13 million of net adverse prior year development on accident and health business primarily due to reserve strengthening mainly related to the 2019 through 2021 accident years. In 2021, we recognized $18 million of net favorable prior year reserve development, the principal components of which were: • $71 million of net favorable prior year reserve development on pr operty busine ss 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 2018 to 2020 catastrophe events, and the global property book of business related to the 2017 through 2019 accident years. • $43 million of net favorable prior year reserve development on marine and aviation business primarily due to better than expected loss emergence attributable to marine cargo, marine offshore energy and marine specie books of business mainly related to the 2017, 2018 and 2020 accident years, decreases in loss estimates attributable to specific large marine claims related to the 2012 accident year, and better than expected loss emergence attributable to aviation business mainly related to the 2020 accident year. • $16 million of net favorable prior year reserve development on accident and health business primarily due to better than expected loss emergence related to the 2019 and 2020 accident years. • $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. • $71 million of net adverse prior year reserve development on professional lines business primarily due to reserve strengthening within run-off lines of business mainly related to the 2016 through 2019 accident years and the U.S. commercial management solutions book of business mainly related to the 2017 and 2019 accident years. • $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. • $7 million of net adverse prior year reserve development on cyber business primarily due to reserve strengthening within the global cyber and technology book of business mainly related to the 2019 accident year. In 2020, we recognized $9 million of net favorable prior year reserve development, the principal components of which were: • $44 million of net favorable prior year reserve development on property 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 2017 to 2019 catastrophe events. • $23 million of net favorable prior year reserve development on marine and aviation business primarily due to better than expected loss emergence attributable to marine business mainly related to the 2018 accident year. • $38 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 U.S. primary casualty, U.S. excess casualty and program books of business mainly related to the 2017 and 2018 accident years. Reinsurance Segment : Favorable (Adverse) Years ended December 31, 2022 2021 2020 Accident and health $ 14,199 $ 5,861 $ 7,373 Agriculture 11,703 423 5,606 Marine and aviation 2,597 (10,767) (12,664) Professional lines (54,820) (23,718) (15,352) Credit and surety 43,567 3,436 36,828 Motor 18,161 43,968 21,086 Liability (58,148) (17,919) (29,656) Run-off lines Catastrophe (504) (36) (3,547) Property 42,523 17,651 6,818 Engineering (10,095) (4,850) (9,520) Total run-off lines 31,924 12,765 (6,249) Total $ 9,183 $ 14,049 $ 6,972 In 2022, we recognized $9 million of net favorable prior year reserve development, the principal components of which were: • $44 million of net favorable development on credit and surety business primarily due to better than expected loss emergence mainly related to the 2015 through 2021 accident years, most notably within the mortgage book of business related to the 2020 and 2021 accident years. • $18 million of net favorable prior year reserve development on motor business primarily due to better than expected loss emergence mainly related to the 2017 through 2020 accident years. • $14 million of net favorable development on accident and health business primarily due to better than expected loss emergence mainly related to the 2019 through 2021 accident years. • $12 million of net favorable development on agriculture business primarily due to better than expected loss emergence mainly related to the 2019 and 2021 accident years. • $58 million of net adverse development on liability business primarily due to increases in loss estimates attributable to specific large claims related to the 2018 and 2021 accident years and reserve strengthening within the U.S. non-proportional books of business related to the 2016 through 2019 accident years. • $55 million of net adverse prior year reserve development on professional lines business primarily due to increases in loss estimates attributable to one cedant related to several accident years, and reserve strengthening within the U.S. public D&O proportional books of business related to 2017 and older accident years. Run-off lines • $43 million of net favorable development on property business primarily due to better than expected loss emergence attributable to 2017 through 2021 catastrophe events and better than expected attritional loss emergence attributable to the 2021 accident year. • $10 million of net adverse prior year reserve development on engineering business primarily due to increases in loss estimates attributable to specific large claims mainly related to the 2011, 2018 and 2019 accident years. In 2021, we rec ognized $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. • $6 million of net favorable prior year development on accident and health business primarily due to better than expected loss emergence mainly related to the 2019 and 2020 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 through 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. • $11 million of net adverse prior year development on marine and aviation business primarily du

REINSURANCE

REINSURANCE	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Premiums Premiums Premiums Premiums Premiums Premiums Gross $ 8,214,595 $ 7,936,382 $ 7,685,984 $ 7,281,709 $ 6,826,938 $ 6,768,733 Ceded (2,951,539) (2,776,056) (2,759,360) (2,571,859) (2,490,529) (2,397,424) Net $ 5,263,056 $ 5,160,326 $ 4,926,624 $ 4,709,850 $ 4,336,409 $ 4,371,309 For the year ended December 31, 2022, the Company recognized ceded losses and loss expenses of $1,754 million (2021: $1,782 million; 2020: $1,914 million). At December 31, 2022, the Company's allowance for expected credit losses was $31 million (2021: $30 million; 2020: $24 million ).

DEBT AND FINANCING ARRANGEMENTS

DEBT AND FINANCING ARRANGEMENTS	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
DEBT AND FINANCING ARRANGEMENTS	a) Debt The following table summarizes the Company's debt: Year ended December 31, 2022 2021 5.150% Senior Notes $ 246,708 $ 246,632 4.000% Senior Notes 348,020 347,665 3.900% Senior Notes 296,615 296,172 Junior Subordinated Notes 420,971 420,506 Total Debt $ 1,312,314 $ 1,310,975 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. 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, 2022. 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, 2022, the Company incurred interest expense of $40 million (2021: $40 million, 2020: $52 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, 2022, the Company incurred interest expense of $21 million (2021: $21 million). Scheduled Debt Maturity The following table provides the scheduled maturity of the Company's debt obligations at December 31, 2022: Year ended December 31, 2023 $ — 2024 — 2025 — 2026 — 2027 350,000 After 2027 975,000 Unamortized discount and debt issuance expenses (12,686) Total senior notes and notes payable $ 1,312,314 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. On March 31, 2022, the Participating Subsidiaries amended their existing $650 million secured letter of credit facility to extend the expiration date of the $150 million secured letter of credit facility to March 31, 2023, with each letter of credit provided pursuant to such credit facility having a tenor not to extend beyond March 31, 2024. The terms and conditions of the $500 million secured letter of credit facility remain unchanged. At December 31, 2022, letters of credit outstanding under the LOC Facility were $362 million (2021: $356 million). At December 31, 2022, the Participating Subsidiaries were in compliance with all LOC Facility covenants.

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
FEDERAL HOME LOAN BANK ADVANCES	The Company's subsidiaries, AXIS Insurance Company and AXIS Surplus Insurance Company are members of the Federal Home Loan Bank of Chicago ("FHLB"). Members may borrow from the FHLB at competitive rates subject to certain conditions. At December 31, 2022, the companies had admitted assets of approximately $3 billion which provides borrowing capacity of up to approximately $750 million. Conditions of membership include maintaining sufficient collateral deposits for funding, a requirement to maintain member stock at 0.4% of mortgage-related assets at December 31st of the prior year, and a requirement to purchase additional member stock of 2.0% or 4.5% of any amount borrowed.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
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 maturities portfolio, which represents approximately $12.0 billion or 44% 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 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, 2022, 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, 2022, the three largest balances by reinsurer accounted for 13%, 9% and 6% (2021: 13%, 10% and 5%) of reinsurance recoverable on unpaid and paid losses and loss expenses. At December 31, 2022, 81.8% (December 31, 2021: 85.7%) 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, 2022, the Company recorded an allowance for credit losses expected to be recognized over the life of the premium balances receivable of $10 million (2021: $8 million). For the year ended December 31, 2022, bad debt expense was $nil (2021: $nil; 2020: $nil). b) Brokers The Company produces its business through brokers and direct relationships with insurance companies. For the year ended December 31, 2022, three brokers accounted for 43% of gross premiums written. Marsh & McLennan Companies Inc. accounted for 17%, Aon plc accounted for 17%, and Arthur J. Gallagher & Co. accounted for 9%. For the years ended December 31, 2021 and 2020, three brokers accounted for 45% and 47% of gross premiums written, respectively. For the year ended December 31, 2021, Marsh & McLennan Companies Inc. accounted for 18% (2020:19%), Aon plc accounted for 17% (2020:17%), and Willis Tower Watson PLC accounted for 10% (2020:11%). 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, 2022, the Company had outstanding reinsurance purchase commitments of $11 million (2021: $10 million), all of which is due before June 30, 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 financial statements. The Company is not party to any material legal proceedings arising outside the ordinary course of business. e) Investments At December 31, 2022 the Company ha s $508 million (2021: $649 million ) of unfunded investment commitments related to its other investment portfolio, which are callable by investment managers (refer to Note 5(e) ' Investments '). At December 31, 2022 the Company has $25 million (2021: $33 million) of unfunded investment commitments to purchase commercial mortgage loans and $20 million ( 2021 : $19 million) 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, 2022, investments and cash of $749 million (2021: $937 million ) were restricted to satisfy the Company's FAL requirements (refer to Note 5 'Investments' and Note 22 ' Statutory Financial Information' ).

LEASES

LEASES	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Lease cost: Operating lease expense $ 20,611 $ 21,864 $ 24,726 Short-term lease expense (1) 813 1,127 299 Sublease income (2) (3,423) (3,116) (3,578) Total lease expense $ 18,001 $ 19,875 $ 21,447 Other information: Operating cash outflows from operating leases $ 22,932 $ 22,726 $ 20,452 Right-of-use assets obtained in exchange for new operating lease liabilities (3) $ 6,514 $ (1,739) $ 36,742 Weighted-average remaining lease term - operating leases (4) 9.9 years 10.0 years 10.2 years Weighted-average discount rate - operating lease (5) 4.1% 4.1 % 4.2 % (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, 2022: Year ended December 31, Expected cash flows 2023 $ 19,774 2024 13,725 2025 13,148 2026 11,052 2027 9,052 Later years 58,517 Discount (22,690) Total discounted operating lease liabilities $ 102,577 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

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Earnings (loss) per common share Net income (loss) $ 223,083 $ 618,609 $ (120,424) Less: Preferred share dividends 30,250 30,250 30,250 Net income (loss) available (attributable) to common shareholders $ 192,833 $ 588,359 $ (150,674) Weighted average common shares outstanding 84,864 84,707 84,262 Earnings (loss) per common share $ 2.27 $ 6.95 $ (1.79) Earnings (loss) per diluted common share Net income (loss) available (attributable) to common shareholders $ 192,833 $ 588,359 $ (150,674) Weighted average common shares outstanding 84,864 84,707 84,262 Share-based compensation plans (1) 805 584 — Weighted average diluted common shares outstanding 85,669 85,291 84,262 Earnings (loss) per diluted common share $ 2.25 $ 6.90 $ (1.79) Weighted average anti-dilutive shares excluded from the dilutive computation 324 656 922 (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, 2022
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, 2022 2021 2020 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 (91,806) (92,227) (92,621) Shares repurchased (897) (205) (194) Shares reissued 791 626 588 Total treasury shares at end of year (91,912) (91,806) (92,227) Total shares outstanding 84,668 84,774 84,353 Treasury Shares On December 8, 2022, 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, 2023. The new plan is effective January 1, 2023. The following table presents common shares repurchased from shares held in Treasury: Year ended December 31, 2022 2021 2020 In the open market: (1) Total shares 634 — — Total cost $ 34,987 $ — $ — Average price per share (2) $ 55.22 $ — $ — From employees: (3) Total shares 263 205 194 Total cost $ 13,994 $ 10,242 $ 10,382 Average price per share (2) $ 53.13 $ 49.93 $ 53.43 Total shares repurchased: Total shares 897 205 194 Total cost $ 48,981 $ 10,242 $ 10,382 Average price per share (2) $ 54.61 $ 49.93 $ 53.43 (1) Shares are repurchased pursuant to the Company's Board-authorized share repurchase program announced in December 2021, effective January 1, 2022 through to December 31, 2022. (2) Calculated using whole numbers. (3) 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, 2022 Common shares $ 1.73 $ 1.29 $ 0.44 Series E preferred shares $ 137.50 $ 103.13 $ 34.38 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

RETIREMENT PLANS

RETIREMENT PLANS	12 Months Ended
	Dec. 31, 2022
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, 2022, total pension expenses were $34 million (2021: $34 million and 2020: $29 million) for the above retirement benefits.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2022
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, 2022, 1,908,750 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 2022 and 2021 were measured on the grant date using a Monte Carlo simulation model. The grant date fair values 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. 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, share-settled performance 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 2022 and 2021 Performance restricted stock units granted in 2022 and 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 2022 and 2021 were share-settled awards. Valuation assumptions The fair value of performance restricted stock units granted in 2022 and 2021 were 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, 2022 2021 Expected volatility 33.44% 32.99% Expected term (in years) 3.0 3.0 Expected dividend yield n/a n/a Risk-free interest rate 1.26% 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 for awards granted in 2022 is measured from January 1, 2022 to December 31, 2024, and performance for awards granted in 2021 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 2022 and 2021 is determined on the grant date based on the fair value calculated by the Monte Carlo simulation model and 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 and 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, 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, 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 Granted 140 68.63 993 56.09 Vested (100) 54.70 (690) 52.67 Forfeited (21) 62.26 (248) 53.22 Nonvested restricted stock units - December 31, 2022 330 $ 60.01 2,117 $ 53.16 c) Cash-Settled Awards The following table provides an activity summary of the Company's cash-settled restricted stock units: Cash-Settled Service Restricted Stock Units Number of Nonvested restricted stock units - December 31, 2020 471 Granted — Vested (233) Forfeited (23) Nonvested restricted stock units - December 31, 2021 215 Granted — Vested (145) Forfeited (10) Nonvested restricted stock units - December 31, 2022 60 The following table provides additional information related to share-based compensation: Year ended December 31, 2022 2021 2020 Share-based compensation expense (1) $ 56,136 $ 49,415 $ 47,789 Tax benefits associated with share-based compensation expense $ 8,839 $ 7,613 $ 8,061 Liability for cash-settled restricted stock units (2) $ 4,792 $ 9,091 $ 13,273 Fair value of restricted stock units vested (3) $ 49,792 $ 42,967 $ 50,757 Unrecognized share-based compensation expense $ 74,601 $ 80,805 $ 74,014 Expected weighted average period associated with the recognition of unrecognized share-based compensation expense 2.3 years 2.4 years 2.4 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, 2022
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, 2022, total fees paid to SKY Harbor Capital Management, LLC, were $2 million (2021: $2 million; 2020: $3 million). In addition, the Company has an investment of $39 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, 2022, fees paid to Freedom wer e $2 million (2021: $3 million; 2020: $2 million). The Company has an investment of $82 million in Stone Point's private equity fund, Trident VIII L.P. ("Trident VIII") and co-investments of $26 million with Trident VIII. For the year ended December 31, 2022, fees pai d to Stone Point in relation to Trident VIII were $2 million (2021 : $4 million ; 2020: $1 million). The Company has an investment of $9 million in Stone Point's private equity fund, Trident IX L.P. ("Trident IX"). For the year ended December 31, 2022, fees pai d to Stone Point in relation to Trident IX were $1 million (2021 : $nil; 2020: $nil ). The Company has an investment of $40 million with Rialto Real Estate IV-Property ("Rialto") and co-investments of $17 million with Rialto, a fund managed by a portfolio company of Stone Point's private equity fund, Trident VII L.P. For the year ended December 31, 2022, fees paid to Rialto were $2 million ( 2021 : $1 million; 2020: $nil). The Company has an investment of $18 million in Stone Point Credit Corporation. For the year ended December 31, 2022, fees paid to Stone Point in relation to Stone Point Credit Corporation were $0.3 million ( 2021 : $nil; 2020: $nil). The Company has an investment of $17 million in Stone Point Credit Corporation bonds. For the year ended December 31, 2022, the Company earned income of $0.6 million in relation to this bond. The Company has an investment of $6 million in a syndicated accounts receivable loan for which Sound Point Capital Management LP ("Sound Point"), an affiliate of Stone Point, is the lead originator. For the year ended December 31, 2022, the Company has not paid any fees to Sound Point. The Company has co-investments of $24 million with Gordon Brothers, an affiliate of Stone Point. For the year ended December 31, 2022, the Company has not paid any fees to Gordon Brothers . During his tenure as the Company's Chair, Mr. Butt received consulting fees for the year ended December 31, 2020 of $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, 2022, the Company h as $462 million (2021: $555 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, 2022, the Company ceded reinsurance premiums of $324 million (2021: $283 million; 2020: $256 million) and ceded losses of $234 million (2021: $188 million; 2020: $187 million) to Harrington Re. In addition, Harrington Re paid certain acquisition costs and administrative fees to the Company. At December 31, 2022, the amount of reinsurance recoverable on unpaid and paid losses was $819 million (2021: $717 million) and the amount of ceded reinsurance payable included in insurance and reinsurance balances payable was $220 million (2021: $189 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, 2022
Restructuring and Related Activities [Abstract]
REORGANIZATION EXPENSES	For the year ended December 31, 2022, reorganization expenses were $31 million (2021: $nil and 2020: $8 million). In 2022, reorganization expenses included compensation-related costs and software asset impairments attributable to the Company's exit from catastrophe and property reinsurance lines of business in June 2022. In 2020, reorganization expenses were related to the Company's transformation program which was launched in 2017. This program encompassed 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, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	Under current Bermuda law, AXIS Capital's Bermuda subsidiaries are not required to pay any taxes in Bermuda on income or capital gains. The Company has received 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 2019 through 2022. 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 currently under examination for the 2019 and 2020 tax years and remain subject to examination for tax year s 2019 through 2022. 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 2018 through 2022. AXIS Capital had subsidiaries in Ireland, the U.K., and Brazil in 2022 and AXIS Capital's subsidiaries had branches in the U.K., Switzerland, and Belgium. T he Company ceased operations in Dubai in March 2021 and in the Netherlands in December 2021. A number of tax audits have been completed during 2022, namely Ireland, with respect to the tax years 2016 and 2017, Belgium, with respect to the tax years, 2018 and 2019 and Switzerland, with respect to the tax years, 2019 and 2020. 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 2018 through 2022. 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, 2022 2021 2020 Current income tax expense (benefit) U.S. $ 11,491 $ 35,229 $ (1,122) Europe 2,366 (6,082) 365 Other (147) — — Deferred income tax expense (benefit) U.S. (8,147) (3,369) (3,098) Europe 16,474 36,606 (8,466) Total income tax expense (benefit) $ 22,037 $ 62,384 $ (12,321) Net current tax receivables $ 46,704 $ 27,883 $ 12,205 Net deferred tax assets (liabilities) 108,220 12,860 (1,625) Net tax assets $ 154,924 $ 40,743 $ 10,580 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, 2022 2021 Deferred tax assets: Discounting of net reserves for losses and loss expenses $ 52,992 $ 53,415 Unearned premiums 56,146 53,342 Net unrealized investments losses 71,251 — Operating and capital loss carryforwards (1) 152,896 85,358 Accruals not currently deductible 42,045 38,294 Tax credits 7,619 2,709 Other deferred tax assets 8,590 5,040 Deferred tax assets before valuation allowance 391,539 238,158 Valuation allowance (60,069) (16,918) Deferred tax assets net of valuation allowance 331,470 221,240 Deferred tax liabilities: Deferred acquisition costs (35,211) (34,845) Net unrealized investments gains — (5,732) Other investment adjustments and impairments (20,068) (18,134) Intangible assets (51,993) (52,722) Equalization reserves (2,530) (2,365) Acquisition adjustments (72,351) (79,464) Lloyd’s deferred year of account results (34,068) (5,114) Other deferred tax liabilities (7,029) (10,004) Deferred tax liabilities (223,250) (208,380) Net deferred tax assets (liabilities) $ 108,220 $ 12,860 (1) At December 31, 2022 and 2021, the total operating loss carryforwards does not include any Lloyd's deferred year of account losses. The following table summarizes total operating and capital loss carryforwards and tax credits: At December 31, 2022 2021 Operating and Capital Loss Carryforwards (1) Singapore (branch) operating loss carryforward $ 73,769 $ 76,287 U.K. operating loss carryforward (2) 415,274 308,491 Ireland operating loss carryforward 200,822 11,850 Ireland capital loss carryforward 716 716 Switzerland operating loss carryforward (3) 187,057 15,989 Tax Credits (1) Ireland foreign tax credit $ 655 $ 338 U.K. foreign tax credit 2,372 2,372 U.S. foreign tax credit (4) 4,592 — (1) At December 31, 2022, the Singapore, U.K., and Ireland operating and capital loss carryforwards and tax credits can be carried forward indefinitely. (2) At December 31, 2022 and 2021, the U.K. operating loss carryforward does not include any Lloyd's deferred year of account losses. (3) At December 31, 2022, the Swiss net operating losses can be carried forward 7 years of which $15,989 expires 2028 and $171,068 expires 2029. (4) At December 31, 2022, the U.S. foreign tax credit can be carried back 1 year and carried forward 10 years. The following table shows an analysis of the movement in the Company's valuation allowance: At December 31, 2022 2021 Income tax expense (benefit): Valuation allowance - beginning of year $ 16,918 $ 20,778 Operating loss carryforwards 21,724 (3,422) Foreign tax credit 2,401 (2,048) U.K. branch assets and other foreign rate differentials (1,261) 1,610 Valuation allowance - end of year $ 39,782 $ 16,918 Accumulated other comprehensive income (loss): Valuation allowance - beginning of year $ — $ — Change in investment - related items 20,287 — Valuation allowance - end of year 20,287 — Total valuation allowance - end of year $ 60,069 $ 16,918 At December 31, 2022 and 2021, the Company had a full valuation allowance on operating loss carryforwards relating to operations in Singapore, foreign tax credits available in Ireland and certain other deferred tax assets related to branch operations. In 2022, the valuation allowance increased by $43 million. The net loss incurred by the AXIS Re SE, the Irish reinsurance company, resulted in the recognition of a valuation allowance of $41 million against the net deferred tax assets of AXIS Re SE and AXIS Re Europe, the Swiss branch of the Irish reinsurance company, of which $22 million was recorded in net income (loss) and $19 million was recorded in other comprehensive income (loss). A partial valuation allowance of $2 million was also recorded against the U.S. foreign tax credits. At December 31, 2022, the Company's U.S. operations had a deferred tax asset of $71 million for the unrealized losses on its fixed maturity securities that were recorded in other comprehensive income (loss). The Company examined the need for a valuation allowance and after considering all positive and negative evidence concluded a valuation allowance against its net unrealized investment losses in the U.S was not required. 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, 2022 and 2021, there were no unrecognized tax benefits. The following table presents the distribution of income before income taxes between domestic and foreign jurisdictions and 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, 2022 2021 2020 Income (loss) before income taxes Bermuda (domestic) $ 236,781 $ 431,310 $ (45,951) Foreign 8,340 249,686 (86,794) Total income (loss) before income taxes $ 245,121 $ 680,996 $ (132,745) 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. 0.2 % 4.8 % 5.6 % Europe 1.9 % 2.0 % 9.2 % Valuation allowance 9.5 % (0.5 %) (1.7 %) Change in enacted tax rate (1) (2.2 %) 1.5 % (1.7 %) Other (0.4 %) 1.4 % (2.1 %) Actual tax rate 9.0 % 9.2 % 9.3 %

OTHER COMPREHENSIVE INCOME (LOS

OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2022
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, 2022 Available for sale investments: Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized $ (1,171,381) $ 127,756 $ (1,043,625) Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has been recognized (73,063) 5,913 (67,150) Adjustment for reclassification of net realized (gains) losses and impairment losses recognized in net income (loss) 335,294 (30,369) 304,925 Unrealized gains (losses) arising during the year, net of reclassification adjustment (909,150) 103,300 (805,850) Foreign currency translation adjustment (10,986) — (10,986) Total other comprehensive income (loss), net of tax $ (920,136) $ 103,300 $ (816,836) 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 (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 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 Year ended December 31, 2022 2021 2020 Unrealized gains (losses) on available for sale investments Other realized gains (losses) $ (322,726) $ 94,771 $ 91,866 Impairment losses (12,568) (22) (1,486) Total before tax (335,294) 94,749 90,380 Income tax (expense) benefit 30,369 (7,635) (12,368) Net of tax $ (304,925) $ 87,114 $ 78,012 (1) Amounts in parentheses are charges to net income (loss).

STATUTORY FINANCIAL INFORMATION

STATUTORY FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2022
STATUTORY FINANCIAL INFORMATION [Abstract]
STATUTORY FINANCIAL INFORMATION	The Company's insurance and reinsurance operations are subject to 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, 2022 2021 2022 2021 2022 2021 Required statutory capital and surplus $ 1,261,160 $ 1,517,485 $ 699,203 $ 755,270 $ 651,460 $ 626,973 Available statutory capital and surplus $ 3,156,955 $ 3,067,879 $ 1,099,474 $ 1,147,194 $ 1,982,618 $ 1,885,383 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, 2022 and 2021, 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, 2022, the maximum dividend AXIS Specialty Bermuda could pay, without a signed affidavit, having met minimum levels of statutory capital and surplus requirements, was approximately $709 million (2021: $782 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 2022 and 2021, 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, 2022, the maximum dividend the Company's Irish subsidiaries could pay, having met their solvency and capital requirements was approximately $51 million (2021: $25 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, 2022, the maximum dividend that the Company's U.S. insurance operations could pay without regulatory approval was approximately $119 million (2021: $120 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. Syndicate 1686 is managed by AXIS Managing Agency. 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 letters of credit provided by approved banks. At December 31, 2022, fixed maturities and short-term investments with a fair value of $530 million (2021: $658 million) and cash of $13 million (2021: $19 million), respectively, were restricted to satisfy AXIS Corporate Capital UK Limited FAL requirements. At December 31, 2022, fixed maturities and short-term investments with a fair value of $176 million (2021: $225 million), equity securities with a fair value of $23 million (2021: $28 million), and cash of $6 million (2021: $6 million) were restricted to satisfy AXIS Corporate Capital UK II Limited FAL requirements (refer to Note 5 ' Investments ' and Note 12 'Commitments and Contingencies' ). 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, 2022 and 2021, actual capital and assets exceeded the FAL requirements for Syndicate 1686. During 2022, net funds of $85 million (2021: $60 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, 2022 and 2021, 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 $134 million , $569 million, and $85 million for 2022, 2021 and 2020, 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, 2022
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, 2022 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 $ 2,731,733 $ 2,639,330 $ 2,639,330 Non-U.S. government 612,546 562,029 562,029 Corporate debt 4,680,798 4,255,556 4,255,556 Agency RMBS 1,297,423 1,202,785 1,202,785 CMBS 1,029,863 947,778 947,778 Non-agency RMBS 151,907 133,534 133,534 ABS 1,499,728 1,429,527 1,429,527 Municipals 172,475 156,355 156,355 Total fixed maturities, available for sale $ 12,176,473 11,326,894 11,326,894 Fixed maturities, held to maturity, at amortized cost Corporate debt $ 85,200 73,772 85,200 ABS 613,151 600,971 613,151 Total fixed maturities, held to maturity $ 698,351 674,743 698,351 Mortgage loans, held for investment, at fair value 627,437 627,437 Short-term investments, at fair value 70,310 70,310 Equity securities, at fair value 485,253 485,253 Other investments, at fair value (1) 682,768 996,751 Equity method investments (2) — 148,288 Total investments $ 13,867,405 $ 14,353,284 (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, 2022
Condensed Financial Information Disclosure [Abstract]
SCHEDULE II - CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY ONLY	AXIS CAPITAL HOLDINGS LIMITED CONDENSED BALANCE SHEETS – PARENT COMPANY DECEMBER 31, 2022 AND 2021 2022 2021 (in thousands) Assets Investments in subsidiaries $ 4,943,126 $ 5,676,653 Cash and cash equivalents 1,932 1,531 Other assets 4,432 6,525 Total assets $ 4,949,490 $ 5,684,709 Liabilities Intercompany payable $ 225,490 $ 192,618 Dividends payable 52,992 51,775 Other liabilities 31,098 29,660 Total liabilities 309,580 274,053 Shareholders’ equity Preferred shares 550,000 550,000 Common shares (shares issued 2022: 176,580; 2021: 176,580 shares outstanding 2022: 84,668; 2021: 84,774) 2,206 2,206 Additional paid-in capital 2,366,253 2,346,179 Accumulated other comprehensive income (loss) (760,300) 56,536 Retained earnings 6,247,022 6,204,745 Treasury shares, at cost (2022: 91,912; 2021: 91,806) (3,765,271) (3,749,010) Total shareholders’ equity 4,639,910 5,410,656 Total liabilities and shareholders’ equity $ 4,949,490 $ 5,684,709 (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, 2022, 2021 AND 2020 2022 2021 2020 (in thousands) Revenues Net investment income $ — $ — $ 750 Total revenues — — 750 Expenses General and administrative expenses 60,252 62,843 37,629 Total expenses 60,252 62,843 37,629 Income (loss) before equity in net income (loss) of subsidiaries (60,252) (62,843) (36,879) Equity in net income (loss) of subsidiaries 283,335 681,452 (83,545) Net income (loss) 223,083 618,609 (120,424) Preferred share dividends 30,250 30,250 30,250 Net income (loss) available (attributable) to common shareholders $ 192,833 $ 588,359 $ (150,674) Comprehensive income (loss) $ (593,753) $ 260,750 $ 122,261 SCHEDULE II AXIS CAPITAL HOLDINGS LIMITED CONDENSED STATEMENTS OF CASH FLOWS – PARENT COMPANY YEARS ENDED DECEMBER 31, 2022, 2021 AND 2020 2022 2021 2020 (in thousands) Cash flows from operating activities: Net income (loss) $ 223,083 $ 618,609 $ (120,424) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Equity in net (income) loss of subsidiaries (283,335) (681,452) 83,545 Change in intercompany payable 32,871 (96,868) 73,575 Dividends received from subsidiaries 225,000 300,000 350,000 Other items (17,140) 7,882 (8,290) Share-based compensation expense, net of cash payments 48,494 37,744 29,005 Net cash provided by operating activities 228,973 185,915 407,411 Cash flows from financing activities: Taxes paid on withholding shares (13,994) (10,242) (10,382) Dividends paid - common shares (149,341) (145,603) (141,590) Repurchase of preferred shares — — (225,000) Repurchase of common shares - open market (34,987) — — Dividends paid - preferred shares (30,250) (30,250) (31,831) Net cash used in financing activities (228,572) (186,095) (408,803) Increase (decrease) in cash, cash equivalents and restricted cash 401 (180) (1,392) Cash, cash equivalents and restricted cash - beginning of year 1,531 1,711 3,103 Cash, cash equivalents and restricted cash - end of year $ 1,932 $ 1,531 $ 1,711

SCHEDULE III - SUPPLEMENTARY IN

SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION	12 Months Ended
	Dec. 31, 2022
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, 2022 (in thousands) Deferred Reserve Unearned Net Net investment income (1) Net losses Acquisition Other operating expenses (2) Net Insurance $ 249,407 $ 8,381,593 $ 3,077,628 $ 3,134,155 $ — $ 1,785,854 $ 577,838 $ 443,704 $ 3,377,906 Reinsurance 224,162 6,787,270 1,283,819 2,026,171 — 1,456,556 444,179 106,585 1,885,150 Corporate — — — — 418,829 — — 130,054 — Total $ 473,569 $ 15,168,863 $ 4,361,447 $ 5,160,326 $ 418,829 $ 3,242,410 $ 1,022,017 $ 680,343 $ 5,263,056 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 (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 $130 million, $126 million, and $102 million for the years ended December 31, 2022, 2021 and 2020, 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, 2022
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
SCHEDULE IV - SUPPLEMENTARY REINSURANCE INFORMATION	AXIS CAPITAL HOLDINGS LIMITED SUPPLEMENTARY REINSURANCE INFORMATION YEARS ENDED DECEMBER 31, 2022, 2021 AND 2020 (in thousands) GROSS CEDED TO ASSUMED NET PERCENTAGE 2022 Property and Casualty $ 4,858,629 $ 2,900,300 $ 2,685,677 $ 4,644,006 57.8 % Accident and Health 244,329 51,239 425,960 619,050 68.8 % Total $ 5,102,958 $ 2,951,539 $ 3,111,637 $ 5,263,056 59.1 % 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 %

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
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 total 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 A fixed maturity, available for sale security is 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. 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. 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 maturities, 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 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. 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 charged to net income (loss) and 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. 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. 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 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 (loss) 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 (refer to Note 2(d) ' Losses and Loss Expenses ' below).
Premiums - Receivables	Insurance and reinsurance premium balances receivable ("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.
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. 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.
Reinsurance	In the normal course of business, the Company purchases facultative and treaty 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. 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. 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 net income over the claims 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 total 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 in either other assets or other liabilities in the consolidated balance sheets. Subsequent changes in fair value and realized gains (losses) are recognized in net income (loss) 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 (loss), 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 reported in the consolidated balance sheets and those reported 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, 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, 2022
Segment Reporting [Abstract]
Summary of 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, 2022 Insurance Reinsurance Total Gross premiums written $ 5,585,581 $ 2,629,014 $ 8,214,595 Net premiums written 3,377,906 1,885,150 5,263,056 Net premiums earned 3,134,155 2,026,171 5,160,326 Other insurance related income 559 12,514 13,073 Net losses and loss expenses (1,785,854) (1,456,556) (3,242,410) Acquisition costs (577,838) (444,179) (1,022,017) Underwriting-related general and administrative expenses (443,704) (106,585) (550,289) Underwriting income $ 327,318 $ 31,365 358,683 Net investment income 418,829 Net investment gains (losses) (456,789) Corporate expenses (130,054) Foreign exchange gains 157,945 Interest expense and financing costs (63,146) Reorganization expenses (31,426) Amortization of value of business acquired — Amortization of intangible assets (10,917) Income before income taxes and interest in income of equity method investments 243,125 Income tax expense (22,037) Interest in income of equity method investments 1,995 Net income 223,083 Preferred share dividends 30,250 Net income available to common shareholders $ 192,833 Net losses and loss expenses ratio 57.0 % 71.9 % 62.8 % Acquisition cost ratio 18.4 % 21.9 % 19.8 % General and administrative expense ratio 14.2 % 5.3 % 13.2 % Combined ratio 89.6 % 99.1 % 95.8 % Goodwill and intangible assets $ 298,601 $ — $ 298,601 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
Summary of 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, 2022 2021 2020 U.S. $ 4,342,707 $ 4,002,748 $ 3,398,108 Ireland 1,931,815 1,667,496 1,516,596 Lloyd's of London 1,567,458 1,473,047 1,309,802 Bermuda 372,615 542,693 602,432 Gross premiums written $ 8,214,595 $ 7,685,984 $ 6,826,938
Summary of 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, 2022 2021 2020 Insurance Professional lines $ 817,924 $ 646,390 $ 509,448 Property 755,986 711,297 653,186 Liability 459,775 354,787 315,434 Cyber 309,004 252,077 206,720 Marine and aviation 479,499 439,050 364,656 Accident and health 209,548 151,133 143,725 Credit and political risk 102,419 96,605 105,869 Total Insurance 3,134,155 2,651,339 2,299,038 Reinsurance Liability 484,681 431,596 397,894 Accident and health 368,747 361,196 333,997 Professional lines 250,911 220,448 207,605 Credit and surety 192,926 158,549 187,722 Motor 205,774 247,099 256,064 Agriculture 122,289 82,743 73,697 Marine and aviation 78,504 58,775 53,513 Run-off lines Catastrophe 156,232 238,775 244,934 Property 135,480 231,092 256,324 Engineering 30,627 28,238 60,521 Total run-off lines 322,339 498,105 561,779 Total Reinsurance 2,026,171 2,058,511 2,072,271 Total $ 5,160,326 $ 4,709,850 $ 4,371,309

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary 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, 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 — — — — At December 31, 2022 Gross amount 95,890 120,784 394,604 611,278 Accumulated amortization n/a n/a (306,671) (306,671) Accumulated translation adjustment 4,911 — — 4,911 100,801 120,784 87,933 309,518 Amortization n/a n/a (10,917) (10,917) Impairment charges — — — — $ 100,801 $ 120,784 $ 77,016 $ 298,601 n/a – not applicable
Summary of Finite-Lived Intangible Assets	The tables below provide details of the gross amount and accumulated amortization by category of value of business acquired ("VOBA") and intangible assets: VOBA and intangible assets At December 31, 2022 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 (10,329) 3,001 VOBA - Novae (2) 256,942 (256,942) — Coverholders (2) 63,565 (27,812) 35,753 Large brokers (2) 46,641 (16,325) 30,316 SME brokers (2) 14,126 (6,180) 7,946 $ 515,388 $ (317,588) $ 197,800 n/a – not applicable (1) On April 1, 2015, the Company completed its acquisition of Ternian Insurance Group LLC (renamed AXIS Group Benefits LLC in 2022) 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 VOBA, distribution networks, and indefinite lived intangible assets related to Lloyd's syndicate capacity, all detailed above. 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 VOBA, distribution networks, and indefinite lived intangible assets related to Lloyd's syndicate capacity, all detailed above.
Summary of Indefinite-Lived Intangible Assets	The tables below provide details of the gross amount and accumulated amortization by category of value of business acquired ("VOBA") and intangible assets: VOBA and intangible assets At December 31, 2022 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 (10,329) 3,001 VOBA - Novae (2) 256,942 (256,942) — Coverholders (2) 63,565 (27,812) 35,753 Large brokers (2) 46,641 (16,325) 30,316 SME brokers (2) 14,126 (6,180) 7,946 $ 515,388 $ (317,588) $ 197,800 n/a – not applicable (1) On April 1, 2015, the Company completed its acquisition of Ternian Insurance Group LLC (renamed AXIS Group Benefits LLC in 2022) 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 VOBA, distribution networks, and indefinite lived intangible assets related to Lloyd's syndicate capacity, all detailed above. 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 VOBA, distribution networks, and indefinite lived intangible assets related to Lloyd's syndicate capacity, all detailed above.
Summary of Future Amortization Expense	The table below provides details of estimated amortization expense of intangible assets with a finite life: Total 2023 $ 10,916 2024 10,916 2025 9,921 2026 9,583 2027 9,583 After 2027 26,097 Total remaining amortization expense 77,016 Indefinite lived intangible assets 120,784 Total intangible assets $ 197,800

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Summary of 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, 2022 Available for sale U.S. government and agency $ 2,731,733 $ — $ 5,386 $ (97,789) $ 2,639,330 Non-U.S. government 612,546 — 2,395 (52,912) 562,029 Corporate debt 4,680,798 (11,521) 5,269 (418,990) 4,255,556 Agency RMBS (1) 1,297,423 — 4,663 (99,301) 1,202,785 CMBS (2) 1,029,863 — 60 (82,145) 947,778 Non-agency RMBS 151,907 (123) 275 (18,525) 133,534 ABS (3) 1,499,728 (35) 555 (70,721) 1,429,527 Municipals (4) 172,475 (54) 139 (16,205) 156,355 Total fixed maturities, available for sale $ 12,176,473 $ (11,733) $ 18,742 $ (856,588) $ 11,326,894 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 (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.
Summary of 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, 2022 Maturity Due in one year or less $ 422,039 $ 409,972 3.7 % Due after one year through five years 5,349,123 5,078,273 44.8 % Due after five years through ten years 2,192,344 1,919,450 16.9 % Due after ten years 234,046 205,575 1.8 % 8,197,552 7,613,270 67.2 % Agency RMBS 1,297,423 1,202,785 10.6 % CMBS 1,029,863 947,778 8.4 % Non-agency RMBS 151,907 133,534 1.2 % ABS 1,499,728 1,429,527 12.6 % Total $ 12,176,473 $ 11,326,894 100.0 % 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 %
Summary of 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, 2022 Fixed maturities, available for sale U.S. government and agency $ 467,032 $ (41,365) $ 1,414,181 $ (56,424) $ 1,881,213 $ (97,789) Non-U.S. government 207,637 (33,027) 298,048 (19,885) 505,685 (52,912) Corporate debt 1,562,355 (268,289) 2,350,504 (150,701) 3,912,859 (418,990) Agency RMBS 220,595 (40,469) 771,191 (58,832) 991,786 (99,301) CMBS 343,494 (40,888) 599,877 (41,257) 943,371 (82,145) Non-agency RMBS 75,137 (14,691) 53,484 (3,834) 128,621 (18,525) ABS 685,990 (48,913) 686,190 (21,808) 1,372,180 (70,721) Municipals 52,994 (10,120) 96,003 (6,085) 148,997 (16,205) Total fixed maturities, available for sale $ 3,615,234 $ (497,762) $ 6,269,478 $ (358,826) $ 9,884,712 $ (856,588) 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)
Summary of 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, 2022 Held to maturity Corporate debt $ 85,200 $ — $ 85,200 $ — $ (11,428) $ 73,772 ABS (1) 613,151 — 613,151 — (12,180) 600,971 Total fixed maturities, held to maturity $ 698,351 $ — $ 698,351 $ — $ (23,608) $ 674,743 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").
Summary of 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, 2022 Equity securities Common stocks $ 7,279 $ 636 $ (442) $ 7,473 Preferred stocks 115 — (43) 72 Exchange-traded funds 207,505 68,058 (5,757) 269,806 Bond mutual funds 279,457 — (71,555) 207,902 Total equity securities $ 494,356 $ 68,694 $ (77,797) $ 485,253 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
Summary of Mortgage Loans Net of Valuation Allowance	The following table provides details of the Company's mortgage loans held for investment: December 31, 2022 December 31, 2021 Carrying value % of Total Carrying value % of Total Mortgage loans held for investment: Commercial $ 627,437 100 % $ 594,088 100 % Total mortgage loans held for investment $ 627,437 100 % $ 594,088 100 %
Summary of 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, 2022 Long/short equity funds $ — — % n/a n/a Multi-strategy funds 32,616 3 % Quarterly 60-90 days Direct lending funds 258,626 26 % Quarterly (1) 90 days Private equity funds 265,836 27 % n/a n/a Real estate funds 298,499 30 % Quarterly (2) , Annually (3) 45-90 days CLO-Equities 5,016 — % n/a n/a Other privately held investments 136,158 14 % n/a n/a Total other investments $ 996,751 100 % 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 Total other investments $ 947,982 100 % n/a – not applicable (1) Applies to one fund with a fair value of $39 million (2021: $47 million). (2) Applies to one fund with a fair value of $73 million (2021: $73 million). (3) Applies to one fund with a fair value of $27 million (2021: $nil).
Investment Income	Net investment income was derived from the following sources: Year ended December 31, 2022 2021 2020 Fixed maturities $ 329,858 $ 262,049 $ 317,121 Other investments 57,043 181,906 16,059 Equity securities 10,390 12,752 9,328 Mortgage loans 23,407 17,427 15,432 Cash and cash equivalents 20,273 4,454 13,582 Short-term investments 3,535 664 2,749 Gross investment income 444,506 479,252 374,271 Investment expenses (25,677) (24,951) (24,670) Net investment income $ 418,829 $ 454,301 $ 349,601
Gain (Loss) on Securities	The following table provides an analysis of net investment gains (losses): Year ended December 31, 2022 2021 2020 Gross realized investment gains Fixed maturities and short-term investments $ 16,671 $ 137,729 $ 186,726 Equity securities 7,687 5,413 25,648 Gross realized investment gains 24,358 143,142 212,374 Gross realized investment losses Fixed maturities and short-term investments (328,493) (42,613) (94,607) Equity securities (406) (696) (5,840) Gross realized investment losses (328,899) (43,309) (100,447) Change in allowance for expected credit losses (11,421) 11 (323) Impairment losses (1) (12,568) (22) (1,486) Change in fair value of investment derivatives (2) 7,656 4,346 (2,434) Net unrealized gains (losses) on equity securities (135,915) 30,111 21,449 Net investment gains (losses) $ (456,789) $ 134,279 $ 129,133 (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'.
Summary of 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, 2022 2021 2020 Balance at beginning of period $ 313 $ 323 $ — Expected credit losses on securities where credit losses were not previously recognized 17,830 95 22,570 Additions (reductions) for expected credit losses on securities where credit losses were previously recognized (3,831) 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 (2,579) (155) (10,705) Balance at end of period $ 11,733 $ 313 $ 323
Summary of Restricted Investments	The table below provides the fair values of the Company's restr icted investments and cash: At December 31, 2022 2021 Collateral in Trust for inter-company agreements $ 790,449 $ 886,903 Collateral for secured letter of credit facility 424,624 402,478 Funds at Lloyd's 748,573 936,862 Collateral in Trust for third-party agreements 2,491,317 2,412,882 Securities on deposit or in trust with regulatory authorities 731,660 729,072 Total restricted investments and cash $ 5,186,623 $ 5,368,197

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Summary of 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, 2022 Assets Fixed maturities, available for sale U.S. government and agency $ 2,600,636 $ 38,694 $ — $ — $ 2,639,330 Non-U.S. government — 562,029 — — 562,029 Corporate debt — 4,136,452 119,104 — 4,255,556 Agency RMBS — 1,202,785 — — 1,202,785 CMBS — 947,778 — — 947,778 Non-agency RMBS — 133,534 — — 133,534 ABS — 1,429,527 — — 1,429,527 Municipals — 156,355 — — 156,355 2,600,636 8,607,154 119,104 — 11,326,894 Equity securities Common stocks 7,473 — — — 7,473 Preferred stocks 72 — — — 72 Exchange-traded funds 269,806 — — — 269,806 Bond mutual funds — 207,902 — — 207,902 277,351 207,902 — — 485,253 Other investments Hedge funds (1) — — — 32,616 32,616 Direct lending funds — — — 258,626 258,626 Private equity funds — — — 265,836 265,836 Real estate funds — — — 298,499 298,499 CLO-Equities — — 5,016 — 5,016 Other privately held investments — — 136,158 — 136,158 — — 141,174 855,577 996,751 Short-term investments — 70,310 — — 70,310 Other assets Derivative instruments (refer to Note 7) — 37,682 — — 37,682 Total Assets $ 2,877,987 $ 8,923,048 $ 260,278 $ 855,577 $ 12,916,890 Liabilities Derivative instruments (refer to Note 7) $ — $ 703 $ — $ — $ 703 Cash-settled awards (refer to Note 17) — 4,792 — — 4,792 Total Liabilities $ — $ 5,495 $ — $ — $ 5,495 (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, 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 — — 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 17) — 9,091 — — 9,091 Total Liabilities $ — $ 24,078 $ 5,630 $ — $ 29,708
Summary of Level 3 Fair Value Measurement Inputs	The following table quantifies the significant unobservable inputs used in estimating fair values at December 31, 2022 of investments classified as Level 3 in the fair value hierarchy: Asset fair value Valuation technique Unobservable input Amount /Range Weighted Other investments - CLO-Equities $ 5,016 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 5 years 5 years Other investments - Other privately $ 17,169 Discounted cash flow Discount rate 6.6% 6.6% Default rate 0.5% 0.5% Loss absorption yield 1.0% 1.0% Estimated maturity date 1 - 3 years 2 years Note: Fixed maturities of $119 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 $119 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.
Summary of 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, 2022 Fixed maturities, available for sale Corporate debt $ 42,894 $ — $ — $ (104) $ (9,014) $ 90,130 $ — $ (4,802) $ 119,104 $ — CMBS — — — — — — — — — — ABS — — — — — — — — — — 42,894 — — (104) (9,014) 90,130 — (4,802) 119,104 — Other investments CLO-Equities 5,910 — — 2,611 — — — (3,505) 5,016 2,611 Other privately held investments 104,521 — — 13,646 — 19,991 — (2,000) 136,158 13,646 110,431 — — 16,257 — 19,991 — (5,505) 141,174 16,257 Total assets $ 153,325 $ — $ — $ 16,153 $ (9,014) $ 110,121 $ — $ (10,307) $ 260,278 $ 16,257 Other liabilities Derivative instruments $ 5,630 $ — $ — $ (3,542) $ — $ — $ — $ (2,088) $ — $ — Total liabilities $ 5,630 $ — $ — $ (3,542) $ — $ — $ — $ (2,088) $ — $ — 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) (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").
Summary of 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, 2022 Fixed maturities, available for sale Corporate debt $ 42,894 $ — $ — $ (104) $ (9,014) $ 90,130 $ — $ (4,802) $ 119,104 $ — CMBS — — — — — — — — — — ABS — — — — — — — — — — 42,894 — — (104) (9,014) 90,130 — (4,802) 119,104 — Other investments CLO-Equities 5,910 — — 2,611 — — — (3,505) 5,016 2,611 Other privately held investments 104,521 — — 13,646 — 19,991 — (2,000) 136,158 13,646 110,431 — — 16,257 — 19,991 — (5,505) 141,174 16,257 Total assets $ 153,325 $ — $ — $ 16,153 $ (9,014) $ 110,121 $ — $ (10,307) $ 260,278 $ 16,257 Other liabilities Derivative instruments $ 5,630 $ — $ — $ (3,542) $ — $ — $ — $ (2,088) $ — $ — Total liabilities $ 5,630 $ — $ — $ (3,542) $ — $ — $ — $ (2,088) $ — $ — 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) (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, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of 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, 2022 December 31, 2021 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 $ 54,076 $ 81 $ 559 $ 184,187 $ 13 $ 1,463 Relating to underwriting portfolio: Foreign exchange forward contracts 1,441,273 37,601 144 1,258,836 3,103 13,524 Other underwriting-related contracts — — — 50,000 — 5,630 Total derivatives $ 37,682 $ 703 $ 3,116 $ 20,617
Summary of 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, 2022 December 31, 2021 Gross amounts Gross amounts offset Net amounts (1) Gross amounts Gross amounts offset Net amounts (1) Derivative assets $ 41,762 $ (4,080) $ 37,682 $ 9,047 $ (5,931) $ 3,116 Derivative liabilities $ 4,783 $ (4,080) $ 703 $ 26,548 $ (5,931) $ 20,617 (1) Net asset and liability derivatives are classified within other assets and other liabilities in the consolidated balance sheets.
Summary of 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, 2022 December 31, 2021 Gross amounts Gross amounts offset Net amounts (1) Gross amounts Gross amounts offset Net amounts (1) Derivative assets $ 41,762 $ (4,080) $ 37,682 $ 9,047 $ (5,931) $ 3,116 Derivative liabilities $ 4,783 $ (4,080) $ 703 $ 26,548 $ (5,931) $ 20,617 (1) Net asset and liability derivatives are classified within other assets and other liabilities in the consolidated balance sheets.
Derivatives Not Designated as Hedging Instruments	The following table provides the total unrealized and realized gains (losses) recognized in net income (loss) for derivatives not designated as hedges: Consolidated statement of operations line item that includes gain (loss) recognized Amount of gain (loss) recognized in 2022 2021 2020 Relating to investment portfolio: Foreign exchange forward contracts Net investment gains (losses) $ 7,656 $ 4,346 $ (2,434) Relating to underwriting portfolio: Foreign exchange forward contracts Foreign exchange (losses) gains (31,609) (50,738) 44,166 Other underwriting-related contracts Other insurance related income (loss) 3,542 2,742 (9,035) Total $ (20,411) $ (43,650) $ 32,697

RESERVE FOR LOSSES AND LOSS E_2

RESERVE FOR LOSSES AND LOSS EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2022
Insurance Loss Reserves [Abstract]
Summary of the Lines of Business Categories and the Expected Claim Tails	The following tables map the Company's lines of business to expected claim tails: Insurance segment Expected claims tail Short Medium Long Lines of business Property X Accident and health X Marine and aviation X Cyber X Professional lines X Credit and political risk X Liability X Reinsurance segment Expected claims tail Short Medium Long Lines of business Accident and health X Agriculture X Marine and aviation X Professional lines X Credit and surety X Motor X Liability X Run-off lines Catastrophe X Property X Engineering X
Summary of Components of Reserve for Losses and Loss Expenses	Reserve for losses and loss expenses comprise the following: At December 31, 2022 2021 Reserve for reported losses and loss expenses $ 5,555,865 $ 5,539,971 Reserve for losses incurred but not reported 9,612,998 9,113,123 Reserve for losses and loss expenses $ 15,168,863 $ 14,653,094
Summary of 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, 2022 2021 2020 Gross reserve for losses and loss expenses, beginning of year $ 14,653,094 $ 13,926,766 $ 12,752,081 Less reinsurance recoverable on unpaid losses, beginning of year (5,017,611) (4,496,641) (3,877,756) Net reserve for unpaid losses and loss expenses, beginning of year 9,635,483 9,430,125 8,874,325 Net incurred losses and loss expenses related to: Current year 3,267,943 3,041,193 3,297,161 Prior years (25,533) (32,410) (15,909) 3,242,410 3,008,783 3,281,252 Net paid losses and loss expenses related to: Current year (457,857) (490,011) (571,442) Prior years (2,397,213) (2,274,240) (2,365,959) (2,855,070) (2,764,251) (2,937,401) Foreign exchange and other (685,132) (39,174) 211,949 Net reserve for unpaid losses and loss expenses, end of year 9,337,691 9,635,483 9,430,125 Reinsurance recoverable on unpaid losses, end of year 5,831,172 5,017,611 4,496,641 Gross reserve for losses and loss expenses, end of year $ 15,168,863 $ 14,653,094 $ 13,926,766
Summary of Prior Year Loss Development	The following table presents net prior year reserve development by segment: Net Favorable Prior Year Reserve Development Insurance Reinsurance Total Year ended December 31, 2022 $ 16,350 $ 9,183 $ 25,533 Year ended December 31, 2021 $ 18,360 $ 14,049 $ 32,410 Year ended December 31, 2020 $ 8,937 $ 6,972 $ 15,909 The following sections provide further details on net prior year reserve development by segment, line of business and accident year. Insurance Segment : Favorable (Adverse) Years ended December 31, 2022 2021 2020 Property $ 52,512 $ 71,032 $ 44,054 Accident and health (12,856) 15,844 2,738 Marine and aviation 27,927 42,535 23,195 Cyber 8,416 (7,329) 2,205 Professional lines (29,093) (71,258) (37,866) Credit and political risk 24,361 10,363 (745) Liability (54,917) (42,827) (24,644) Total $ 16,350 $ 18,360 $ 8,937 Reinsurance Segment : Favorable (Adverse) Years ended December 31, 2022 2021 2020 Accident and health $ 14,199 $ 5,861 $ 7,373 Agriculture 11,703 423 5,606 Marine and aviation 2,597 (10,767) (12,664) Professional lines (54,820) (23,718) (15,352) Credit and surety 43,567 3,436 36,828 Motor 18,161 43,968 21,086 Liability (58,148) (17,919) (29,656) Run-off lines Catastrophe (504) (36) (3,547) Property 42,523 17,651 6,818 Engineering (10,095) (4,850) (9,520) Total run-off lines 31,924 12,765 (6,249) Total $ 9,183 $ 14,049 $ 6,972
Summary of Net Incurred and Paid Claims Development Tables by Accident Year	Insurance property Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 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 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 269,749 $ 263,335 $ 236,276 $ 232,389 $ 231,357 $ 241,593 $ 240,025 $ 239,742 $ 239,749 $ 239,662 $ 608 3,455 2014 288,993 287,038 276,777 262,345 261,928 259,507 255,612 252,918 252,842 846 4,128 2015 207,460 199,738 191,987 189,724 186,403 188,334 178,338 180,614 322 4,168 2016 263,277 286,359 278,599 264,244 258,563 259,012 258,432 1,763 6,589 2017 790,282 696,217 688,738 679,272 674,642 674,955 16,736 10,037 2018 601,920 648,546 628,383 620,745 619,470 8,696 9,586 2019 365,895 354,498 344,865 356,278 3,174 9,470 2020 639,024 625,403 574,412 45,011 12,282 2021 375,903 371,684 22,282 7,562 2022 412,001 168,886 5,412 Total $ 3,940,350 Insurance property Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 58,733 $ 167,580 $ 204,735 $ 214,480 $ 225,390 $ 228,191 $ 229,834 $ 233,526 $ 236,432 $ 236,997 2014 100,650 201,651 244,033 249,980 253,810 254,575 251,427 252,414 252,430 2015 67,511 144,649 165,616 179,204 178,913 185,314 176,515 181,344 2016 82,211 206,273 242,194 249,831 250,150 255,203 252,620 2017 190,341 509,810 617,753 645,828 640,919 630,476 2018 218,618 463,312 556,715 566,699 584,059 2019 145,706 251,353 297,493 334,179 2020 181,569 419,718 473,647 2021 133,811 284,795 2022 97,207 Total 3,327,754 All outstanding liabilities before 2013, net of reinsurance 12,328 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 624,924 Insurance accident and health Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 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 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 38,763 $ 34,160 $ 34,413 $ 34,383 $ 35,045 $ 35,245 $ 33,026 $ 32,794 $ 33,916 $ 35,353 $ 1,220 49,549 2014 70,803 66,137 65,588 64,057 63,685 64,420 63,645 62,846 61,479 656 58,081 2015 69,643 67,991 64,511 62,720 63,278 62,966 62,298 62,958 1,495 44,138 2016 84,024 83,697 84,118 85,247 84,921 85,938 85,738 1,597 87,001 2017 112,583 118,736 116,690 114,782 114,855 114,738 160 688,000 2018 109,900 113,711 112,819 110,861 111,865 170 738,139 2019 72,971 74,084 64,586 68,074 (482) 668,008 2020 69,316 63,476 66,975 1,475 713,198 2021 69,349 71,672 1,695 418,260 2022 98,419 46,362 227,274 Total $ 777,271 Insurance accident and health Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 16,332 $ 29,732 $ 31,088 $ 32,330 $ 32,455 $ 32,675 $ 32,744 $ 32,902 $ 34,324 $ 34,385 2014 31,094 55,506 59,416 60,571 61,226 61,556 61,428 60,364 60,773 2015 30,760 55,604 58,702 59,574 60,585 60,461 61,116 61,208 2016 40,548 77,102 80,888 81,731 82,791 83,188 83,896 2017 62,112 106,988 112,172 113,583 114,694 113,874 2018 60,816 104,196 106,590 110,259 111,146 2019 44,546 60,783 62,277 67,232 2020 36,155 51,948 60,375 2021 39,096 61,291 2022 46,279 Total 700,459 All outstanding liabilities before 2013, net of reinsurance 50 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 76,862 Insurance marine and aviation Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 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 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 94,098 $ 115,403 $ 109,330 $ 110,382 $ 95,998 $ 95,389 $ 95,565 $ 94,661 $ 95,315 $ 94,037 $ 618 3,401 2014 79,979 66,912 71,356 64,952 66,228 64,264 56,132 53,409 52,696 922 3,550 2015 187,548 166,614 162,516 154,835 141,433 146,923 146,411 146,338 1,083 4,292 2016 115,466 111,852 109,445 101,880 101,293 100,428 101,331 1,236 4,821 2017 260,951 228,267 229,379 227,315 219,372 219,134 13,765 8,537 2018 236,572 261,748 247,886 241,156 234,514 22,650 8,699 2019 211,337 205,829 208,657 221,420 9,334 7,566 2020 206,992 178,479 161,972 24,006 6,741 2021 240,192 221,510 68,116 6,354 2022 264,395 179,643 5,240 Total $ 1,717,347 Insurance marine and aviation Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 22,659 $ 50,207 $ 62,893 $ 72,520 $ 77,260 $ 88,864 $ 89,309 $ 92,036 $ 93,247 $ 93,057 2014 10,323 22,841 37,098 39,607 48,895 53,363 54,548 48,832 50,668 2015 29,478 69,837 126,054 131,005 133,809 136,606 143,207 143,363 2016 22,870 50,925 82,993 90,225 92,182 94,129 97,216 2017 35,017 105,590 139,027 170,989 179,649 183,484 2018 47,056 122,623 158,852 172,496 184,154 2019 53,681 102,330 144,781 170,142 2020 44,436 83,842 105,653 2021 26,908 69,711 2022 29,843 Total 1,127,291 All outstanding liabilities before 2013, net of reinsurance 15,112 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 605,168 Insurance cyber Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 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 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 67,211 $ 66,409 $ 65,870 $ 47,310 $ 42,557 $ 34,399 $ 33,537 $ 32,591 $ 32,557 $ 35,564 $ 5,447 1,335 2014 70,557 69,690 69,955 57,876 47,342 42,887 39,516 43,576 39,832 1,733 1,114 2015 65,231 63,595 63,066 51,250 50,357 50,758 52,526 49,795 5,857 1,337 2016 58,741 56,565 58,261 40,266 37,322 29,929 27,873 4,478 1,532 2017 53,187 50,794 56,910 52,058 51,050 49,327 6,722 1,623 2018 33,429 32,155 34,151 31,009 27,332 5,745 1,966 2019 54,671 58,702 81,757 81,402 16,951 2,796 2020 113,744 105,868 102,606 22,194 2,821 2021 124,596 133,673 50,583 2,356 2022 127,970 110,682 1,341 Total $ 675,374 Insurance cyber Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 2,179 $ 10,833 $ 18,990 $ 21,149 $ 24,114 $ 25,564 $ 28,104 $ 28,626 $ 28,745 $ 29,117 2014 3,136 12,162 23,330 29,962 31,260 33,819 33,732 35,440 36,070 2015 5,572 15,333 25,544 28,501 30,865 39,470 42,515 43,635 2016 1,348 4,637 14,141 18,502 21,333 23,136 23,207 2017 9,354 19,165 28,331 35,897 38,029 40,553 2018 2,171 7,327 9,874 14,786 19,193 2019 2,775 20,810 32,193 60,129 2020 17,712 50,038 63,216 2021 24,082 65,391 2022 7,825 Total 388,336 All outstanding liabilities before 2013, net of reinsurance 9,363 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 296,401 Insurance professional lines Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 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 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 314,230 $ 327,011 $ 326,531 $ 311,998 $ 305,212 $ 315,038 $ 294,284 $ 298,702 $ 295,366 $ 290,531 $ 23,664 8,148 2014 335,549 335,403 344,642 327,693 317,641 304,932 302,187 301,754 299,310 39,805 8,759 2015 307,130 307,995 314,890 301,324 287,955 270,904 269,672 281,916 24,939 9,211 2016 286,248 291,012 295,253 313,363 325,816 335,757 338,634 32,529 10,424 2017 335,706 338,031 371,629 371,589 388,973 389,053 72,532 12,380 2018 322,911 338,625 387,583 417,600 445,652 93,119 14,996 2019 342,656 358,459 373,074 408,585 121,148 14,335 2020 319,015 317,999 299,008 166,308 9,128 2021 374,828 366,258 305,139 7,766 2022 456,192 436,877 6,263 Total $ 3,575,139 Insurance professional lines Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 15,377 $ 61,522 $ 108,641 $ 151,750 $ 185,538 $ 212,579 $ 229,734 $ 241,651 $ 255,952 $ 257,104 2014 20,125 56,706 103,662 158,890 188,401 204,705 214,481 236,458 242,244 2015 14,049 51,053 110,009 138,047 169,213 198,709 211,058 222,361 2016 14,319 65,614 130,415 170,747 208,400 232,648 273,693 2017 11,370 51,064 107,837 165,575 196,308 266,468 2018 18,191 74,216 141,868 202,837 262,939 2019 24,826 75,955 131,776 203,957 2020 8,631 43,796 97,171 2021 9,697 38,372 2022 10,715 Total 1,875,024 All outstanding liabilities before 2013, net of reinsurance 93,016 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 1,793,131 Insurance credit and political risk Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 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 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 26,439 $ 25,684 $ 9,759 $ 9,880 $ 14,942 $ 14,067 $ 12,377 $ 12,739 $ 12,614 $ 12,151 $ — 2 2014 38,825 70,712 67,109 68,323 69,589 71,274 70,748 69,112 69,677 — 6 2015 30,329 30,368 27,524 26,012 25,930 24,851 24,189 23,309 — 2 2016 44,175 45,485 42,995 43,566 27,352 26,371 25,291 — 1 2017 47,934 32,612 27,007 19,234 16,952 11,993 4,283 3 2018 42,588 35,296 34,240 26,231 22,577 9,191 2 2019 50,079 77,987 72,450 70,888 7,985 20 2020 59,758 68,347 59,519 25,535 39 2021 42,229 36,943 30,912 17 2022 45,231 40,828 13 Total $ 377,579 Insurance credit and political risk Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 745 $ 2,235 $ 3,726 $ 5,216 $ 11,769 $ 13,828 $ 13,828 $ 13,828 $ 12,151 $ 12,151 2014 1,924 39,951 61,108 57,857 57,857 64,050 70,223 70,223 69,677 2015 — 23,309 23,309 23,309 23,309 23,309 23,309 23,309 2016 — 25,291 25,291 25,291 25,291 25,291 25,291 2017 388 3,916 9,008 11,427 10,640 10,100 2018 5,215 13,128 15,117 11,314 19,396 2019 15,684 46,055 53,331 56,531 2020 9,618 89,146 56,769 2021 2,769 (382) 2022 2,797 Total 275,639 All outstanding liabilities before 2013, net of reinsurance 607 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 102,547 Insurance liability Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 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 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 93,230 $ 95,304 $ 95,170 $ 88,237 $ 93,677 $ 95,978 $ 91,938 $ 89,897 $ 94,196 $ 97,047 $ 12,187 3,737 2014 107,115 124,264 129,725 130,659 132,006 131,461 132,551 132,029 132,659 12,691 5,531 2015 128,435 127,236 137,385 164,915 182,612 187,927 186,853 188,577 22,972 6,574 2016 124,307 130,127 128,782 127,366 120,116 120,101 125,644 21,537 7,417 2017 166,717 165,415 184,847 200,470 204,612 215,101 21,746 8,629 2018 166,973 167,808 190,809 204,879 216,530 29,705 8,473 2019 190,645 191,683 221,266 236,959 43,102 7,936 2020 223,579 223,996 230,421 113,650 5,848 2021 231,189 244,972 150,924 5,965 2022 322,048 282,198 4,657 Total $ 2,009,958 Insurance liability Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 2,356 $ 23,276 $ 33,315 $ 42,046 $ 60,000 $ 66,959 $ 71,978 $ 73,309 $ 78,018 $ 82,483 2014 1,409 18,623 49,818 71,582 84,362 93,562 103,033 106,197 113,142 2015 5,437 22,303 39,522 92,535 120,061 140,732 150,562 158,924 2016 6,308 23,237 36,336 56,367 66,237 79,464 95,688 2017 5,395 29,335 58,801 115,213 142,927 168,012 2018 9,321 34,803 72,091 118,945 158,358 2019 7,791 39,746 83,533 138,832 2020 8,138 25,129 75,820 2021 13,388 51,815 2022 13,199 Total 1,056,273 All outstanding liabilities before 2013, net of reinsurance 50,544 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 1,004,229 Reinsurance accident and health Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident Year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 108,977 $ 113,631 $ 113,009 $ 111,623 $ 111,155 $ 111,162 $ 111,162 $ 111,198 $ 111,277 $ 111,294 $ 757 2014 101,383 102,354 89,238 86,765 86,772 86,774 87,734 88,021 87,906 1,106 2015 93,792 100,434 93,964 93,722 93,007 93,341 92,350 92,313 (1,876) 2016 170,644 191,188 188,320 189,929 189,403 190,426 190,356 (613) 2017 183,817 189,430 183,286 182,097 183,120 183,077 1,528 2018 193,667 200,269 198,105 200,854 200,190 4,693 2019 217,320 211,896 207,347 204,951 5,896 2020 226,549 220,334 213,230 (7,052) 2021 231,754 226,659 26,816 2022 267,359 146,819 Total $ 1,777,335 Reinsurance accident and health Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident Year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 52,853 $ 103,977 $ 108,306 $ 110,927 $ 111,011 $ 111,018 $ 111,018 $ 111,090 $ 110,328 $ 110,537 2014 36,558 79,933 85,870 86,266 86,466 86,553 87,239 86,319 86,702 2015 23,404 77,264 88,667 91,872 91,981 92,441 93,864 93,677 2016 50,036 149,883 180,978 187,142 189,128 188,726 189,679 2017 79,209 157,032 171,864 178,605 179,117 179,772 2018 72,863 165,053 191,605 191,161 194,276 2019 67,728 169,257 195,575 196,306 2020 81,657 171,632 210,006 2021 68,381 179,025 2022 101,308 Total 1,541,288 All outstanding liabilities before 2013, net of reinsurance 47 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 236,094 Reinsurance agriculture Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident Year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 107,068 $ 117,467 $ 121,107 $ 120,795 $ 120,807 $ 120,799 $ 120,919 $ 121,805 $ 120,853 $ 121,752 $ (330) 2014 183,242 164,334 162,814 162,382 162,308 162,321 162,239 162,061 162,756 437 2015 103,172 95,592 95,334 95,320 95,326 95,504 95,490 95,621 (33) 2016 123,798 117,507 110,630 109,218 109,457 108,647 108,599 (227) 2017 151,649 144,281 138,357 139,427 138,898 137,431 (238) 2018 140,936 147,271 140,806 140,538 139,907 1,412 2019 184,177 185,218 187,685 183,289 1,679 2020 62,593 62,738 63,778 3,775 2021 69,759 61,225 9,475 2022 100,872 77,550 Total $ 1,175,230 Reinsurance agriculture Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident Year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 3,609 $ 78,089 $ 118,317 $ 119,549 $ 120,144 $ 120,138 $ 120,204 $ 119,990 $ 120,258 $ 121,997 2014 15,615 133,132 162,343 161,569 161,492 162,005 160,509 161,161 162,061 2015 1,716 65,858 92,967 94,523 94,860 95,455 95,444 95,599 2016 9,489 62,155 107,972 109,511 108,991 108,752 108,792 2017 7,444 124,479 137,421 138,555 137,396 137,343 2018 5,115 127,514 135,594 141,688 138,316 2019 28,854 154,480 174,173 178,181 2020 17,454 47,316 54,180 2021 2,953 32,781 2022 15,345 Total 1,044,595 All outstanding liabilities before 2013, net of reinsurance 734 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 131,369 Reinsurance marine and aviation Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident Year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 11,961 $ 12,441 $ 6,676 $ 6,487 $ 6,560 $ 6,523 $ 6,226 $ 6,558 $ 6,575 $ 6,599 $ (565) 2014 10,183 9,142 7,990 7,182 9,166 8,514 8,764 9,003 9,505 423 2015 10,363 9,217 10,806 14,979 12,620 12,251 12,016 11,968 418 2016 32,280 35,330 35,605 36,996 35,511 35,834 36,238 625 2017 55,072 42,760 41,360 46,608 43,230 40,887 844 2018 18,830 28,072 27,609 44,042 47,522 443 2019 69,056 81,480 79,146 80,976 5,760 2020 40,548 42,071 38,273 4,380 2021 43,886 40,968 15,886 2022 68,898 54,268 Total $ 381,834 Reinsurance marine and aviation Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident Year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 465 $ 2,502 $ 3,685 $ 4,180 $ 5,416 $ 5,845 $ 6,029 $ 6,574 $ 6,593 $ 6,698 2014 1,117 2,301 4,377 5,244 6,308 6,486 6,990 7,357 7,549 2015 416 2,655 6,430 8,641 10,198 10,994 10,820 10,902 2016 2,695 19,119 26,202 30,133 32,878 33,927 34,519 2017 2,746 23,508 28,826 33,764 36,809 36,920 2018 1,779 10,831 24,246 30,685 34,293 2019 10,715 27,093 34,278 52,688 2020 4,017 16,729 24,112 2021 5,491 12,381 2022 7,775 Total 227,837 All outstanding liabilities before 2013, net of reinsurance 2,076 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 156,073 Reinsurance professional lines Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 208,838 $ 213,826 $ 214,632 $ 212,750 $ 212,039 $ 204,246 $ 180,269 $ 168,466 $ 164,383 $ 168,014 $ 5,422 2014 218,770 218,664 218,600 218,251 232,493 228,865 227,327 225,276 233,317 5,973 2015 211,463 211,312 213,463 224,028 230,650 227,545 234,298 240,255 12,860 2016 194,725 195,775 199,369 226,932 254,459 254,339 266,249 28,900 2017 154,457 154,910 161,029 176,930 186,713 209,111 31,256 2018 145,212 147,533 154,366 164,966 172,749 37,223 2019 136,846 136,277 140,144 144,336 48,864 2020 139,748 140,003 134,318 82,908 2021 147,961 139,493 112,421 2022 168,473 154,252 Total $ 1,876,315 Reinsurance professional lines Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 1,059 $ 12,023 $ 30,381 $ 64,795 $ 81,423 $ 104,549 $ 122,775 $ 128,090 $ 132,401 $ 138,470 2014 2,019 13,047 48,700 74,330 108,767 146,520 157,828 177,465 189,224 2015 3,134 13,502 41,493 79,172 111,527 131,056 151,873 169,963 2016 1,758 20,414 52,455 94,853 124,553 153,251 180,770 2017 2,812 14,785 39,764 62,498 88,494 115,904 2018 272 2,539 31,091 56,685 81,417 2019 365 13,549 33,395 52,849 2020 3,822 13,845 26,664 2021 4,337 11,343 2022 3,233 Total 969,837 All outstanding liabilities before 2013, net of reinsurance 92,109 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 998,587 Reinsurance credit and surety Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 162,254 $ 149,561 $ 140,520 $ 136,726 $ 132,814 $ 121,824 $ 122,035 $ 124,850 $ 123,641 $ 124,760 $ 1,647 2014 132,954 132,589 139,686 136,104 125,086 123,854 120,171 118,853 119,216 133 2015 157,589 161,881 156,701 152,946 134,568 135,496 136,667 131,093 1,530 2016 139,437 138,424 146,132 120,945 113,526 111,192 108,856 1,206 2017 136,280 129,727 123,877 115,202 112,679 112,383 2,461 2018 109,771 117,215 111,340 108,388 103,324 9,933 2019 73,090 66,316 66,175 63,943 9,256 2020 76,516 83,053 68,410 16,290 2021 51,721 43,485 21,500 2022 63,125 50,105 Total $ 938,595 Reinsurance credit and surety Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 32,161 $ 75,085 $ 89,348 $ 95,770 $ 103,368 $ 105,102 $ 110,064 $ 112,241 $ 110,508 $ 111,765 2014 35,281 59,703 83,972 92,889 100,457 104,858 105,238 105,054 106,252 2015 32,782 79,855 97,094 113,683 115,605 119,204 120,060 118,811 2016 41,790 71,774 90,226 99,722 100,768 99,276 99,003 2017 37,115 72,267 88,330 99,844 97,952 100,868 2018 38,682 66,694 70,623 82,182 83,907 2019 19,224 30,187 43,443 45,510 2020 25,293 33,823 39,253 2021 4,466 9,045 2022 6,865 Total 721,279 All outstanding liabilities before 2013, net of reinsurance 14,199 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 231,515 Reinsurance motor Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 154,629 $ 148,570 $ 137,357 $ 128,421 $ 125,052 $ 122,196 $ 113,999 $ 111,011 $ 107,275 $ 107,772 $ 5,350 2014 174,534 171,207 166,277 163,297 159,020 155,735 152,566 152,080 152,730 2,906 2015 214,064 204,962 208,365 210,117 199,861 198,653 196,003 196,266 6,881 2016 236,330 246,951 248,315 238,949 230,691 228,144 231,759 3,531 2017 347,985 350,773 340,571 341,108 342,097 337,372 12,195 2018 343,073 335,555 345,746 342,114 330,259 12,092 2019 328,062 325,918 325,792 317,512 23,908 2020 205,885 207,767 205,512 38,657 2021 173,077 173,409 36,756 2022 154,531 69,678 Total $ 2,207,122 Reinsurance motor Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 32,749 $ 49,088 $ 61,273 $ 70,288 $ 75,368 $ 80,462 $ 83,161 $ 74,002 $ 87,158 $ 88,695 2014 41,942 68,998 86,680 93,883 103,115 111,744 106,510 126,822 129,313 2015 56,617 88,152 106,450 122,679 137,554 137,597 159,792 164,738 2016 59,225 98,649 120,556 137,362 149,042 172,139 179,208 2017 70,213 126,902 155,191 188,658 209,638 231,594 2018 82,020 134,503 196,187 204,301 227,538 2019 89,709 180,671 195,770 216,677 2020 43,190 92,231 110,939 2021 41,457 73,915 2022 34,696 Total 1,457,313 All outstanding liabilities before 2013, net of reinsurance 252,523 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 1,002,332 Reinsurance liability Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 171,362 $ 175,116 $ 181,007 $ 183,051 $ 182,782 $ 176,171 $ 156,816 $ 155,720 $ 154,142 $ 157,106 $ 9,769 2014 198,852 201,764 203,470 199,379 198,098 195,959 186,489 182,375 188,328 16,201 2015 213,612 213,954 214,899 214,736 212,574 212,908 202,698 205,594 19,016 2016 239,071 244,275 249,096 252,359 262,011 265,953 273,312 33,727 2017 273,964 268,712 278,111 286,761 296,174 305,418 46,899 2018 262,831 267,501 272,753 285,643 305,168 61,173 2019 262,191 271,050 273,061 271,247 88,379 2020 282,871 283,457 277,697 146,037 2021 303,482 310,759 196,806 2022 346,385 298,804 Total $ 2,641,014 Reinsurance liability Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 5,966 $ 22,218 $ 52,304 $ 69,024 $ 88,217 $ 102,527 $ 113,053 $ 123,563 $ 127,966 $ 133,020 2014 7,072 28,641 48,362 69,985 89,217 109,681 129,370 136,624 147,798 2015 7,268 27,442 54,466 80,784 108,707 130,587 141,300 151,688 2016 11,858 37,601 69,254 111,403 142,420 166,054 188,883 2017 12,432 42,092 78,435 120,553 158,338 192,889 2018 19,354 49,875 85,126 127,737 166,117 2019 19,305 45,266 79,739 120,278 2020 16,939 49,073 82,357 2021 10,942 58,524 2022 18,061 Total 1,259,615 All outstanding liabilities before 2013, net of reinsurance 123,029 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 1,504,428 Reinsurance run-off Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2022 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 339,293 $ 308,714 $ 282,546 $ 265,575 $ 260,012 $ 259,488 $ 256,433 $ 254,589 $ 252,736 $ 251,472 $ 927 2014 241,052 245,246 235,489 226,620 223,003 222,835 218,807 218,620 217,746 1,354 2015 265,915 254,255 254,344 245,175 243,963 248,890 246,716 244,839 4,350 2016 284,047 284,044 280,767 275,463 278,910 279,338 279,384 5,861 2017 703,634 703,287 742,280 743,340 741,329 732,026 22,110 2018 523,856 617,378 632,623 618,695 604,626 14,356 2019 454,804 439,421 419,002 401,170 30,117 2020 517,487 548,722 542,837 60,793 2021 425,525 434,809 54,826 2022 263,372 139,192 Total $ 3,972,281 Reinsurance run-off Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 unaudited 2020 unaudited 2021 unaudited 2022 2013 $ 50,430 $ 137,729 $ 207,125 $ 232,338 $ 239,868 $ 240,785 $ 241,051 $ 240,341 $ 244,594 $ 245,659 2014 49,123 135,883 179,797 196,310 201,136 205,235 202,701 209,411 210,684 2015 46,120 118,635 177,080 201,981 212,210 216,642 230,483 232,113 2016 64,831 141,113 199,912 230,829 245,034 251,866 257,213 2017 163,361 419,474 532,087 590,316 614,420 649,936 2018 116,922 335,059 430,939 483,699 530,773 2019 54,866 220,795 281,860 318,273 2020 105,210 240,691 323,592 2021 87,885 233,487 2022 50,148 Total 3,051,878 All outstanding liabilities before 2013, net of reinsurance 38,217 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 958,620
Summary of Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance	Insurance property 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 32.9% 41.6% 13.9% 4.7% 1.4% 1.1% (1.6%) 1.5% 0.6% 0.2% Insurance accident and health 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 52.2% 35.1% 5.1% 2.8% 1.0% 0.1% 0.5% (0.4%) 2.4% 0.2% Insurance marine and 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 19.8% 26.5% 21.8% 8.2% 5.9% 5.3% 2.6% (2.6%) 2.4% (0.2%) Insurance cyber 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 10.2% 22.4% 20.0% 16.0% 7.8% 7.9% 3.3% 2.7% 1.0% 1.0% 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 4.2% 12.4% 16.7% 14.5% 10.9% 10.1% 6.4% 5.1% 3.4% 0.4% 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 8.7% 55.5% 6.2% 2.2% 13.9% 4.3% 2.2% —% (7.3%) —% 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% 12.9% 15.6% 20.1% 13.6% 9.5% 7.6% 2.7% 5.1% 4.6% Reinsurance accident and health 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 36.0% 48.3% 11.5% 1.9% 0.6% 0.2% 0.7% (0.4%) (0.2%) 0.2% Reinsurance agriculture 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 9.5% 65.1% 19.8% 1.6% (0.5%) 0.1% (0.2%) 0.1% 0.4% 1.4% Reinsurance marine and 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 8.9% 27.5% 20.0% 13.5% 10.9% 3.7% 2.1% 4.3% 1.2% 1.6% 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 1.3% 5.7% 12.7% 14.6% 12.7% 12.4% 8.7% 6.4% 3.8% 3.6% 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 27.8% 24.1% 13.6% 8.4% 2.5% 1.8% 1.2% 0.2% (0.2%) 1.0% 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 25.4% 18.9% 10.3% 6.8% 6.1% 5.4% 3.4% 2.4% 6.9% 1.4% 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 4.8% 10.8% 12.8% 13.3% 12.1% 10.1% 7.7% 5.2% 4.4% 3.2% Reinsurance run-off 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 19.9% 33.6% 19.3% 9.2% 4.3% 2.3% 1.6% 1.2% 1.2% 0.4%
Summary of Reconciliation of Development Tables to Consolidated Balance Sheet	The following table reconciles the reserve for losses and loss expenses at December 31, 2022, 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, 2022 Net outstanding liabilities Reinsurance recoverable on unpaid claims Gross outstanding liabilities Insurance segment Property $ 624,924 $ 398,826 $ 1,023,750 Accident and health 76,862 6,518 83,380 Marine and aviation 605,168 278,976 884,144 Cyber 296,401 393,436 689,837 Professional lines 1,793,131 1,474,539 3,267,670 Credit and political risk 102,547 34,391 136,938 Liability 1,004,229 1,546,520 2,550,749 Total insurance segment 4,503,262 4,133,206 8,636,468 Reinsurance segment Accident and health 236,094 38,647 274,741 Agriculture 131,369 10,018 141,387 Marine and aviation 156,073 57,692 213,765 Professional lines 998,587 303,849 1,302,436 Credit and surety 231,515 79,309 310,824 Motor 1,002,332 258,483 1,260,815 Liability 1,504,428 527,513 2,031,941 Run-off lines 958,620 422,455 1,381,075 Total reinsurance segment 5,219,018 1,697,966 6,916,984 Total $ 9,722,280 $ 5,831,172 15,553,452 Unallocated claims adjustment expenses 168,308 Foreign exchange and other (1) 21,972 Ceded reserves related to retroactive transactions (574,869) Total liability for unpaid claims and claims adjustment expense $ 15,168,863 (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, 2022
Reinsurance Disclosures [Abstract]
Summary of Breakdown of Gross and Net Premiums Written and Earned	The following table presents gross and net premiums written and earned: Year ended December 31, 2022 2021 2020 Premiums Premiums Premiums Premiums Premiums Premiums Gross $ 8,214,595 $ 7,936,382 $ 7,685,984 $ 7,281,709 $ 6,826,938 $ 6,768,733 Ceded (2,951,539) (2,776,056) (2,759,360) (2,571,859) (2,490,529) (2,397,424) Net $ 5,263,056 $ 5,160,326 $ 4,926,624 $ 4,709,850 $ 4,336,409 $ 4,371,309

DEBT AND FINANCING ARRANGEMEN_2

DEBT AND FINANCING ARRANGEMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	The following table summarizes the Company's debt: Year ended December 31, 2022 2021 5.150% Senior Notes $ 246,708 $ 246,632 4.000% Senior Notes 348,020 347,665 3.900% Senior Notes 296,615 296,172 Junior Subordinated Notes 420,971 420,506 Total Debt $ 1,312,314 $ 1,310,975 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.
Summary of Debt Maturity	The following table provides the scheduled maturity of the Company's debt obligations at December 31, 2022: Year ended December 31, 2023 $ — 2024 — 2025 — 2026 — 2027 350,000 After 2027 975,000 Unamortized discount and debt issuance expenses (12,686) Total senior notes and notes payable $ 1,312,314

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Lease cost: Operating lease expense $ 20,611 $ 21,864 $ 24,726 Short-term lease expense (1) 813 1,127 299 Sublease income (2) (3,423) (3,116) (3,578) Total lease expense $ 18,001 $ 19,875 $ 21,447 Other information: Operating cash outflows from operating leases $ 22,932 $ 22,726 $ 20,452 Right-of-use assets obtained in exchange for new operating lease liabilities (3) $ 6,514 $ (1,739) $ 36,742 Weighted-average remaining lease term - operating leases (4) 9.9 years 10.0 years 10.2 years Weighted-average discount rate - operating lease (5) 4.1% 4.1 % 4.2 % (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.
Summary of Maturity and Minimum Lease Payments	The following table presents the scheduled maturity of the Company's operating lease liabilities at December 31, 2022: Year ended December 31, Expected cash flows 2023 $ 19,774 2024 13,725 2025 13,148 2026 11,052 2027 9,052 Later years 58,517 Discount (22,690) Total discounted operating lease liabilities $ 102,577 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

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Summary of 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, 2022 2021 2020 Earnings (loss) per common share Net income (loss) $ 223,083 $ 618,609 $ (120,424) Less: Preferred share dividends 30,250 30,250 30,250 Net income (loss) available (attributable) to common shareholders $ 192,833 $ 588,359 $ (150,674) Weighted average common shares outstanding 84,864 84,707 84,262 Earnings (loss) per common share $ 2.27 $ 6.95 $ (1.79) Earnings (loss) per diluted common share Net income (loss) available (attributable) to common shareholders $ 192,833 $ 588,359 $ (150,674) Weighted average common shares outstanding 84,864 84,707 84,262 Share-based compensation plans (1) 805 584 — Weighted average diluted common shares outstanding 85,669 85,291 84,262 Earnings (loss) per diluted common share $ 2.25 $ 6.90 $ (1.79) Weighted average anti-dilutive shares excluded from the dilutive computation 324 656 922 (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, 2022
Stockholders' Equity Note [Abstract]
Summary of Common Shares Issued and Outstanding	The following table presents changes in common shares issued and outstanding: Year ended December 31, 2022 2021 2020 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 (91,806) (92,227) (92,621) Shares repurchased (897) (205) (194) Shares reissued 791 626 588 Total treasury shares at end of year (91,912) (91,806) (92,227) Total shares outstanding 84,668 84,774 84,353
Summary of Share Repurchases	The following table presents common shares repurchased from shares held in Treasury: Year ended December 31, 2022 2021 2020 In the open market: (1) Total shares 634 — — Total cost $ 34,987 $ — $ — Average price per share (2) $ 55.22 $ — $ — From employees: (3) Total shares 263 205 194 Total cost $ 13,994 $ 10,242 $ 10,382 Average price per share (2) $ 53.13 $ 49.93 $ 53.43 Total shares repurchased: Total shares 897 205 194 Total cost $ 48,981 $ 10,242 $ 10,382 Average price per share (2) $ 54.61 $ 49.93 $ 53.43 (1) Shares are repurchased pursuant to the Company's Board-authorized share repurchase program announced in December 2021, effective January 1, 2022 through to December 31, 2022. (2) 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, 2022 Common shares $ 1.73 $ 1.29 $ 0.44 Series E preferred shares $ 137.50 $ 103.13 $ 34.38 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

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Summary of 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, 2022 2021 Expected volatility 33.44% 32.99% Expected term (in years) 3.0 3.0 Expected dividend yield n/a n/a Risk-free interest rate 1.26% 0.17% The following table provides additional information related to share-based compensation: Year ended December 31, 2022 2021 2020 Share-based compensation expense (1) $ 56,136 $ 49,415 $ 47,789 Tax benefits associated with share-based compensation expense $ 8,839 $ 7,613 $ 8,061 Liability for cash-settled restricted stock units (2) $ 4,792 $ 9,091 $ 13,273 Fair value of restricted stock units vested (3) $ 49,792 $ 42,967 $ 50,757 Unrecognized share-based compensation expense $ 74,601 $ 80,805 $ 74,014 Expected weighted average period associated with the recognition of unrecognized share-based compensation expense 2.3 years 2.4 years 2.4 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.
Summary of Reconciliation of Beginning and Ending Balance of Non Vested Restricted Stock (Including RSUs) to be Settled in Shares	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, 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 Granted 140 68.63 993 56.09 Vested (100) 54.70 (690) 52.67 Forfeited (21) 62.26 (248) 53.22 Nonvested restricted stock units - December 31, 2022 330 $ 60.01 2,117 $ 53.16
Summary of Activity of Cash-Settled Restricted Stock Units	The following table provides an activity summary of the Company's cash-settled restricted stock units: Cash-Settled Service Restricted Stock Units Number of Nonvested restricted stock units - December 31, 2020 471 Granted — Vested (233) Forfeited (23) Nonvested restricted stock units - December 31, 2021 215 Granted — Vested (145) Forfeited (10) Nonvested restricted stock units - December 31, 2022 60

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Summary 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, 2022 2021 2020 Current income tax expense (benefit) U.S. $ 11,491 $ 35,229 $ (1,122) Europe 2,366 (6,082) 365 Other (147) — — Deferred income tax expense (benefit) U.S. (8,147) (3,369) (3,098) Europe 16,474 36,606 (8,466) Total income tax expense (benefit) $ 22,037 $ 62,384 $ (12,321) Net current tax receivables $ 46,704 $ 27,883 $ 12,205 Net deferred tax assets (liabilities) 108,220 12,860 (1,625) Net tax assets $ 154,924 $ 40,743 $ 10,580
Summary of Deferred Tax Assets and Liabilities	The following table provides details of the significant components of deferred tax assets and liabilities: At December 31, 2022 2021 Deferred tax assets: Discounting of net reserves for losses and loss expenses $ 52,992 $ 53,415 Unearned premiums 56,146 53,342 Net unrealized investments losses 71,251 — Operating and capital loss carryforwards (1) 152,896 85,358 Accruals not currently deductible 42,045 38,294 Tax credits 7,619 2,709 Other deferred tax assets 8,590 5,040 Deferred tax assets before valuation allowance 391,539 238,158 Valuation allowance (60,069) (16,918) Deferred tax assets net of valuation allowance 331,470 221,240 Deferred tax liabilities: Deferred acquisition costs (35,211) (34,845) Net unrealized investments gains — (5,732) Other investment adjustments and impairments (20,068) (18,134) Intangible assets (51,993) (52,722) Equalization reserves (2,530) (2,365) Acquisition adjustments (72,351) (79,464) Lloyd’s deferred year of account results (34,068) (5,114) Other deferred tax liabilities (7,029) (10,004) Deferred tax liabilities (223,250) (208,380) Net deferred tax assets (liabilities) $ 108,220 $ 12,860 (1) At December 31, 2022 and 2021, the total operating loss carryforwards does not include any Lloyd's deferred year of account losses.
Summary of Tax Credits	The following table summarizes total operating and capital loss carryforwards and tax credits: At December 31, 2022 2021 Operating and Capital Loss Carryforwards (1) Singapore (branch) operating loss carryforward $ 73,769 $ 76,287 U.K. operating loss carryforward (2) 415,274 308,491 Ireland operating loss carryforward 200,822 11,850 Ireland capital loss carryforward 716 716 Switzerland operating loss carryforward (3) 187,057 15,989 Tax Credits (1) Ireland foreign tax credit $ 655 $ 338 U.K. foreign tax credit 2,372 2,372 U.S. foreign tax credit (4) 4,592 — (1) At December 31, 2022, the Singapore, U.K., and Ireland operating and capital loss carryforwards and tax credits can be carried forward indefinitely. (2) At December 31, 2022 and 2021, the U.K. operating loss carryforward does not include any Lloyd's deferred year of account losses. (3) At December 31, 2022, the Swiss net operating losses can be carried forward 7 years of which $15,989 expires 2028 and $171,068 expires 2029.
Summary of Operating and Capital Loss Carryforwards	The following table summarizes total operating and capital loss carryforwards and tax credits: At December 31, 2022 2021 Operating and Capital Loss Carryforwards (1) Singapore (branch) operating loss carryforward $ 73,769 $ 76,287 U.K. operating loss carryforward (2) 415,274 308,491 Ireland operating loss carryforward 200,822 11,850 Ireland capital loss carryforward 716 716 Switzerland operating loss carryforward (3) 187,057 15,989 Tax Credits (1) Ireland foreign tax credit $ 655 $ 338 U.K. foreign tax credit 2,372 2,372 U.S. foreign tax credit (4) 4,592 — (1) At December 31, 2022, the Singapore, U.K., and Ireland operating and capital loss carryforwards and tax credits can be carried forward indefinitely. (2) At December 31, 2022 and 2021, the U.K. operating loss carryforward does not include any Lloyd's deferred year of account losses. (3) At December 31, 2022, the Swiss net operating losses can be carried forward 7 years of which $15,989 expires 2028 and $171,068 expires 2029.
Summary of Valuation Allowance Roll Forward	The following table shows an analysis of the movement in the Company's valuation allowance: At December 31, 2022 2021 Income tax expense (benefit): Valuation allowance - beginning of year $ 16,918 $ 20,778 Operating loss carryforwards 21,724 (3,422) Foreign tax credit 2,401 (2,048) U.K. branch assets and other foreign rate differentials (1,261) 1,610 Valuation allowance - end of year $ 39,782 $ 16,918 Accumulated other comprehensive income (loss): Valuation allowance - beginning of year $ — $ — Change in investment - related items 20,287 — Valuation allowance - end of year 20,287 — Total valuation allowance - end of year $ 60,069 $ 16,918
Summary of Effective Tax Rate Reconciliation	The following table presents the distribution of income before income taxes between domestic and foreign jurisdictions and 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, 2022 2021 2020 Income (loss) before income taxes Bermuda (domestic) $ 236,781 $ 431,310 $ (45,951) Foreign 8,340 249,686 (86,794) Total income (loss) before income taxes $ 245,121 $ 680,996 $ (132,745) 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. 0.2 % 4.8 % 5.6 % Europe 1.9 % 2.0 % 9.2 % Valuation allowance 9.5 % (0.5 %) (1.7 %) Change in enacted tax rate (1) (2.2 %) 1.5 % (1.7 %) Other (0.4 %) 1.4 % (2.1 %) Actual tax rate 9.0 % 9.2 % 9.3 %

OTHER COMPREHENSIVE INCOME (L_2

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Summary of 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, 2022 Available for sale investments: Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized $ (1,171,381) $ 127,756 $ (1,043,625) Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has been recognized (73,063) 5,913 (67,150) Adjustment for reclassification of net realized (gains) losses and impairment losses recognized in net income (loss) 335,294 (30,369) 304,925 Unrealized gains (losses) arising during the year, net of reclassification adjustment (909,150) 103,300 (805,850) Foreign currency translation adjustment (10,986) — (10,986) Total other comprehensive income (loss), net of tax $ (920,136) $ 103,300 $ (816,836) 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 (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
Summary of 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 Year ended December 31, 2022 2021 2020 Unrealized gains (losses) on available for sale investments Other realized gains (losses) $ (322,726) $ 94,771 $ 91,866 Impairment losses (12,568) (22) (1,486) Total before tax (335,294) 94,749 90,380 Income tax (expense) benefit 30,369 (7,635) (12,368) Net of tax $ (304,925) $ 87,114 $ 78,012 (1) Amounts in parentheses are charges to net income (loss).

STATUTORY FINANCIAL INFORMATI_2

STATUTORY FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2022
STATUTORY FINANCIAL INFORMATION [Abstract]
Summary of 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, 2022 2021 2022 2021 2022 2021 Required statutory capital and surplus $ 1,261,160 $ 1,517,485 $ 699,203 $ 755,270 $ 651,460 $ 626,973 Available statutory capital and surplus $ 3,156,955 $ 3,067,879 $ 1,099,474 $ 1,147,194 $ 1,982,618 $ 1,885,383

ORGANIZATION (Details)

ORGANIZATION (Details)	12 Months Ended
	Dec. 31, 2022	Oct. 02, 2017
Novae
Business Acquisition [Line Items]
Interests acquired		100%
Axis Corporate Capital UK Limited
Business Acquisition [Line Items]
Capital support, percentage	70%
Axis Corporate Capital UK Limited II
Business Acquisition [Line Items]
Capital support, percentage	30%

SEGMENT INFORMATION - Summary o

SEGMENT INFORMATION - Summary of Underwriting Results of Reportable Segments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) reportableSegment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | reportableSegment	2
Segment Information [Line Items]
Gross premiums written	$ 8,214,595	$ 7,685,984	$ 6,826,938
Net premiums written	5,263,056	4,926,624	4,336,409
Net premiums earned	5,160,326	4,709,850	4,371,309
Other insurance related income (loss)	13,073	23,295	(8,089)
Net losses and loss expenses	(3,242,410)	(3,008,783)	(3,281,252)
Acquisition costs	(1,022,017)	(921,834)	(929,517)
Underwriting-related general and administrative expenses	(680,343)	(663,304)	(579,790)
Net investment income	418,829	454,301	349,601
Net Investment Gain (Loss)	(456,789)	134,279	129,133
Foreign exchange losses	157,945	(315)	(81,069)
Interest expense and financing costs	(63,146)	(62,302)	(75,049)
Reorganization expenses	(31,426)	0	(7,881)
Amortization of value of business acquired	0	(3,854)	(5,139)
Amortization of intangible assets	(10,917)	(12,424)	(11,390)
Income (loss) before income taxes and interest in income (loss) of equity method investments	243,125	648,909	(129,133)
Income tax expense	(22,037)	(62,384)	12,321
Interest in income (loss) of equity method investments	1,995	32,084	(3,612)
Net income (loss)	223,083	618,609	(120,424)
Preferred share dividends	30,250	30,250	30,250
Net income (loss) available (attributable) to common shareholders	192,833	588,359	(150,674)
Goodwill and intangible assets	298,601	309,518	324,288	$ 341,545
Operating Segments
Segment Information [Line Items]
Gross premiums written	8,214,595	7,685,984	6,826,938
Net premiums written	5,263,056	4,926,624	4,336,409
Net premiums earned	5,160,326	4,709,850	4,371,309
Other insurance related income (loss)	13,073	23,295	(8,089)
Net losses and loss expenses	(3,242,410)	(3,008,783)	(3,281,252)
Acquisition costs	(1,022,017)	(921,834)	(929,517)
Underwriting-related general and administrative expenses	(550,289)	(536,834)	(477,968)
Underwriting income (loss)	$ 358,683	$ 265,694	$ (325,517)
Net losses and loss expenses ratio	62.80%	63.90%	75.10%
Acquisition cost ratio	19.80%	19.60%	21.30%
General and administrative expense ratio	13.20%	14%	13.20%
Combined ratio	95.80%	97.50%	109.60%
Goodwill and intangible assets	$ 298,601	$ 309,518	$ 320,434
Operating Segments | Insurance
Segment Information [Line Items]
Gross premiums written	5,585,581	4,863,232	4,018,399
Net premiums written	3,377,906	2,894,885	2,357,501
Net premiums earned	3,134,155	2,651,339	2,299,038
Other insurance related income (loss)	559	1,662	2,647
Net losses and loss expenses	(1,785,854)	(1,514,998)	(1,697,014)
Acquisition costs	(577,838)	(484,344)	(461,533)
Underwriting-related general and administrative expenses	(443,704)	(429,282)	(378,839)
Underwriting income (loss)	$ 327,318	$ 224,377	$ (235,701)
Net losses and loss expenses ratio	57%	57.10%	73.80%
Acquisition cost ratio	18.40%	18.30%	20.10%
General and administrative expense ratio	14.20%	16.20%	16.50%
Combined ratio	89.60%	91.60%	110.40%
Goodwill and intangible assets	$ 298,601	$ 309,518	$ 320,434
Operating Segments | Reinsurance
Segment Information [Line Items]
Gross premiums written	2,629,014	2,822,752	2,808,539
Net premiums written	1,885,150	2,031,739	1,978,908
Net premiums earned	2,026,171	2,058,511	2,072,271
Other insurance related income (loss)	12,514	21,633	(10,736)
Net losses and loss expenses	(1,456,556)	(1,493,785)	(1,584,238)
Acquisition costs	(444,179)	(437,490)	(467,984)
Underwriting-related general and administrative expenses	(106,585)	(107,552)	(99,129)
Underwriting income (loss)	$ 31,365	$ 41,317	$ (89,816)
Net losses and loss expenses ratio	71.90%	72.60%	76.40%
Acquisition cost ratio	21.90%	21.30%	22.60%
General and administrative expense ratio	5.30%	5.10%	4.80%
Combined ratio	99.10%	99%	103.80%
Goodwill and intangible assets	$ 0	$ 0	$ 0
Significant Reconciling Items
Segment Information [Line Items]
Net investment income	418,829	454,301	349,601
Net Investment Gain (Loss)	(456,789)	134,279	129,133
Foreign exchange losses	157,945	(315)	(81,069)
Interest expense and financing costs	(63,146)	(62,302)	(75,049)
Reorganization expenses	(31,426)	0	(7,881)
Amortization of value of business acquired	0	(3,854)	(5,139)
Amortization of intangible assets	(10,917)	(12,424)	(11,390)
Corporate
Segment Information [Line Items]
Underwriting-related general and administrative expenses	$ (130,054)	$ (126,470)	$ (101,822)

SEGMENT INFORMATION - Summary_2

SEGMENT INFORMATION - Summary of Gross Premiums Written by Geographical Location of Subsidiaries (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	$ 8,214,595	$ 7,685,984	$ 6,826,938
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	4,342,707	4,002,748	3,398,108
Ireland
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	1,931,815	1,667,496	1,516,596
Lloyd's of London
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	1,567,458	1,473,047	1,309,802
Bermuda
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	$ 372,615	$ 542,693	$ 602,432

SEGMENT INFORMATION - Summary_3

SEGMENT INFORMATION - Summary of Net Premiums Earned by Segment and Line of Business (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Information [Line Items]
Net premiums earned	$ 5,160,326	$ 4,709,850	$ 4,371,309
Operating Segments
Segment Information [Line Items]
Net premiums earned	5,160,326	4,709,850	4,371,309
Operating Segments | Insurance
Segment Information [Line Items]
Net premiums earned	3,134,155	2,651,339	2,299,038
Operating Segments | Insurance | Professional lines
Segment Information [Line Items]
Net premiums earned	817,924	646,390	509,448
Operating Segments | Insurance | Property
Segment Information [Line Items]
Net premiums earned	755,986	711,297	653,186
Operating Segments | Insurance | Liability
Segment Information [Line Items]
Net premiums earned	459,775	354,787	315,434
Operating Segments | Insurance | Cyber
Segment Information [Line Items]
Net premiums earned	309,004	252,077	206,720
Operating Segments | Insurance | Marine and aviation
Segment Information [Line Items]
Net premiums earned	479,499	439,050	364,656
Operating Segments | Insurance | Accident and health
Segment Information [Line Items]
Net premiums earned	209,548	151,133	143,725
Operating Segments | Insurance | Credit and political risk
Segment Information [Line Items]
Net premiums earned	102,419	96,605	105,869
Operating Segments | Reinsurance
Segment Information [Line Items]
Net premiums earned	2,026,171	2,058,511	2,072,271
Operating Segments | Reinsurance | Run Off Lines
Segment Information [Line Items]
Net premiums earned	322,339	498,105	561,779
Operating Segments | Reinsurance | Professional lines
Segment Information [Line Items]
Net premiums earned	250,911	220,448	207,605
Operating Segments | Reinsurance | Property | Run Off Lines
Segment Information [Line Items]
Net premiums earned	135,480	231,092	256,324
Operating Segments | Reinsurance | Liability
Segment Information [Line Items]
Net premiums earned	484,681	431,596	397,894
Operating Segments | Reinsurance | Marine and aviation
Segment Information [Line Items]
Net premiums earned	78,504	58,775	53,513
Operating Segments | Reinsurance | Accident and health
Segment Information [Line Items]
Net premiums earned	368,747	361,196	333,997
Operating Segments | Reinsurance | Credit and surety
Segment Information [Line Items]
Net premiums earned	192,926	158,549	187,722
Operating Segments | Reinsurance | Motor
Segment Information [Line Items]
Net premiums earned	205,774	247,099	256,064
Operating Segments | Reinsurance | Agriculture
Segment Information [Line Items]
Net premiums earned	122,289	82,743	73,697
Operating Segments | Reinsurance | Catastrophe | Run Off Lines
Segment Information [Line Items]
Net premiums earned	156,232	238,775	244,934
Operating Segments | Reinsurance | Engineering | Run Off Lines
Segment Information [Line Items]
Net premiums earned	$ 30,627	$ 28,238	$ 60,521

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Summary of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill
Gross amount		$ 95,890	$ 95,890	$ 97,092
Accumulated translation adjustment		4,911	4,911	4,911
Goodwill	$ 100,801	100,801	100,801	102,003
Impairment charges	0	0	(1,202)
Intangible assets with an indefinite life
Intangible assets with an indefinite life	120,784	120,784	120,784	120,784
Impairment charges	0	0	0
Intangible assets with a finite life
Gross amount		394,604	394,604	394,604
Accumulated amortization	(317,588)	(306,671)	(291,901)	(275,846)
Total finite lived intangible assets	77,016	87,933	102,703	118,758
Amortization	(10,917)	(14,770)	(16,055)
Impairment charges	0	0	0
Total
Gross amount		611,278	611,278	612,480
Accumulated amortization	(317,588)	(306,671)	(291,901)	(275,846)
Goodwill and intangible assets net balance	298,601	309,518	324,288	$ 341,545
Amortization	$ (10,917)	$ (14,770)	$ (16,055)

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charges	$ 0	$ 0	$ 1,202
Useful life of finite lived intangible assets	8 years

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Summary of Gross Amount and Accumulated Amortization by Category (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 515,388	$ 515,388
Accumulated amortization	(317,588)	(306,671)	$ (291,901)	$ (275,846)
Intangible Assets, Net (Excluding Goodwill), Total	197,800	208,717
U.S. state licenses
Finite-Lived Intangible Assets [Line Items]
Gross amount	26,036	26,036
Intangible Assets, Net (Excluding Goodwill), Total	26,036	26,036
Novae | VOBA - Novae
Finite-Lived Intangible Assets [Line Items]
Gross amount	256,942	256,942
Accumulated amortization	(256,942)	(256,942)
Intangible Assets, Net (Excluding Goodwill), Total	0	0
Novae | Coverholders
Finite-Lived Intangible Assets [Line Items]
Gross amount	63,565	63,565
Accumulated amortization	(27,812)	(22,514)
Intangible Assets, Net (Excluding Goodwill), Total	35,753	41,051
Novae | Large brokers
Finite-Lived Intangible Assets [Line Items]
Gross amount	46,641	46,641
Accumulated amortization	(16,325)	(13,215)
Intangible Assets, Net (Excluding Goodwill), Total	30,316	33,426
Novae | SME brokers
Finite-Lived Intangible Assets [Line Items]
Gross amount	14,126	14,126
Accumulated amortization	(6,180)	(5,003)
Intangible Assets, Net (Excluding Goodwill), Total	7,946	9,123
Novae | Syndicate capacity
Finite-Lived Intangible Assets [Line Items]
Gross amount	94,748	94,748
Intangible Assets, Net (Excluding Goodwill), Total	94,748	94,748
Tiernan | Customer relationships and customers lists - Ternian
Finite-Lived Intangible Assets [Line Items]
Gross amount	13,330	13,330
Accumulated amortization	(10,329)	(8,997)
Intangible Assets, Net (Excluding Goodwill), Total	$ 3,001	$ 4,333

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Summary of Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2023	$ 10,916
2024	10,916
2025	9,921
2026	9,583
2027	9,583
After 2027	26,097
Total finite lived intangible assets	77,016	$ 87,933	$ 102,703	$ 118,758
Indefinite lived intangible assets	120,784	120,784	$ 120,784	$ 120,784
Intangible Assets, Net (Excluding Goodwill), Total	$ 197,800	$ 208,717

INVESTMENTS - Summary of Amorti

INVESTMENTS - Summary of Amortized Cost and Fair Values of Fixed Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Available for sale
Amortized cost	$ 12,176,473	$ 12,241,782
Allowance for expected credit losses	(11,733)	(313)	$ (323)	$ 0
Gross unrealized gains	18,742	165,977
Gross unrealized losses	(856,588)	(94,246)
Fair value	11,326,894	12,313,200
U.S. government and agency
Available for sale
Amortized cost	2,731,733	2,693,319
Allowance for expected credit losses	0	0
Gross unrealized gains	5,386	9,776
Gross unrealized losses	(97,789)	(20,647)
Fair value	2,639,330	2,682,448
Non-U.S. government
Available for sale
Amortized cost	612,546	794,705
Allowance for expected credit losses	0	0
Gross unrealized gains	2,395	10,158
Gross unrealized losses	(52,912)	(9,685)
Fair value	562,029	795,178
Corporate debt
Available for sale
Amortized cost	4,680,798	4,446,585
Allowance for expected credit losses	(11,521)	(236)
Gross unrealized gains	5,269	87,075
Gross unrealized losses	(418,990)	(38,112)
Fair value	4,255,556	4,495,312
Agency RMBS
Available for sale
Amortized cost	1,297,423	1,065,973
Allowance for expected credit losses	0	0
Gross unrealized gains	4,663	17,397
Gross unrealized losses	(99,301)	(8,781)
Fair value	1,202,785	1,074,589
CMBS
Available for sale
Amortized cost	1,029,863	1,223,051
Allowance for expected credit losses	0	0
Gross unrealized gains	60	29,827
Gross unrealized losses	(82,145)	(4,687)
Fair value	947,778	1,248,191
Non-agency RMBS
Available for sale
Amortized cost	151,907	185,854
Allowance for expected credit losses	(123)	(77)
Gross unrealized gains	275	2,410
Gross unrealized losses	(18,525)	(2,023)
Fair value	133,534	186,164
ABS
Available for sale
Amortized cost	1,499,728	1,628,739
Allowance for expected credit losses	(35)	0
Gross unrealized gains	555	3,406
Gross unrealized losses	(70,721)	(9,665)
Fair value	1,429,527	1,622,480
Municipals
Available for sale
Amortized cost	172,475	203,556
Allowance for expected credit losses	(54)	0
Gross unrealized gains	139	5,928
Gross unrealized losses	(16,205)	(646)
Fair value	$ 156,355	$ 208,838

INVESTMENTS - Summary of Contra

INVESTMENTS - Summary of Contractual Maturities of Fixed Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Amortized cost
Due in one year or less	$ 422,039	$ 503,716
Due after one year through five years	5,349,123	4,878,151
Due after five years through ten years	2,192,344	2,478,542
Due after ten years	234,046	277,756
Total fixed maturities with a single maturity date (amortized cost)	8,197,552	8,138,165
Amortized cost	12,176,473	12,241,782
Fair value
Due in one year or less	409,972	505,602
Due after one year through five years	5,078,273	4,908,640
Due after five years through ten years	1,919,450	2,488,478
Due after ten years	205,575	279,056
Total fixed maturities with a single maturity date (fair value)	7,613,270	8,181,776
Fair value	$ 11,326,894	$ 12,313,200
% of Total fair value
Due in one year or less	3.70%	4.10%
Due after one year through five years	44.80%	39.90%
Due after five years through ten years	16.90%	20.20%
Due after ten years	1.80%	2.30%
Fixed maturities with a single maturity date (% of total fair value)	67.20%	66.50%
Total	100%	100%
Agency RMBS
Amortized cost
Fixed maturities without a single maturity date	$ 1,297,423	$ 1,065,973
Amortized cost	1,297,423	1,065,973
Fair value
Fixed maturities without a single maturity date (fair value)	1,202,785	1,074,589
Fair value	$ 1,202,785	$ 1,074,589
% of Total fair value
Fixed maturities without a single maturity date (% of total fair value)	10.60%	8.70%
CMBS
Amortized cost
Fixed maturities without a single maturity date	$ 1,029,863	$ 1,223,051
Amortized cost	1,029,863	1,223,051
Fair value
Fixed maturities without a single maturity date (fair value)	947,778	1,248,191
Fair value	$ 947,778	$ 1,248,191
% of Total fair value
Fixed maturities without a single maturity date (% of total fair value)	8.40%	10.10%
Non-agency RMBS
Amortized cost
Fixed maturities without a single maturity date	$ 151,907	$ 185,854
Amortized cost	151,907	185,854
Fair value
Fixed maturities without a single maturity date (fair value)	133,534	186,164
Fair value	$ 133,534	$ 186,164
% of Total fair value
Fixed maturities without a single maturity date (% of total fair value)	1.20%	1.50%
ABS
Amortized cost
Fixed maturities without a single maturity date	$ 1,499,728	$ 1,628,739
Amortized cost	1,499,728	1,628,739
Fair value
Fixed maturities without a single maturity date (fair value)	1,429,527	1,622,480
Fair value	$ 1,429,527	$ 1,622,480
% of Total fair value
Fixed maturities without a single maturity date (% of total fair value)	12.60%	13.20%

INVESTMENTS - Summary of Fixed

INVESTMENTS - Summary of Fixed Maturities and Equities in an Unrealized Loss Position (Details) $ in Thousands	Dec. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Fixed maturities
Debt Securities, Available-For-Sale, Unrealized Loss Position, Fair Value [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	$ 3,615,234	$ 390,141
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	6,269,478	6,197,689
Debt Securities, Available-for-Sale, Unrealized Loss Position, Total	9,884,712	6,587,830
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(497,762)	(17,715)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(358,826)	(76,531)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	$ (856,588)	$ (94,246)
Number of positions in an unrealized loss | security	4,525	2,333
Continuous unrealized loss position | security	1,842	344
Fixed maturities | Below Investment Grade or Not Rated
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	$ (64,000)	$ (8,000)
U.S. government and agency
Debt Securities, Available-For-Sale, Unrealized Loss Position, Fair Value [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	467,032	101,776
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	1,414,181	2,014,880
Debt Securities, Available-for-Sale, Unrealized Loss Position, Total	1,881,213	2,116,656
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(41,365)	(4,852)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(56,424)	(15,795)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	(97,789)	(20,647)
Non-U.S. government
Debt Securities, Available-For-Sale, Unrealized Loss Position, Fair Value [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	207,637	11,011
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	298,048	463,498
Debt Securities, Available-for-Sale, Unrealized Loss Position, Total	505,685	474,509
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(33,027)	(1,830)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(19,885)	(7,855)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	(52,912)	(9,685)
Corporate debt
Debt Securities, Available-For-Sale, Unrealized Loss Position, Fair Value [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	1,562,355	152,962
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	2,350,504	1,681,859
Debt Securities, Available-for-Sale, Unrealized Loss Position, Total	3,912,859	1,834,821
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(268,289)	(6,542)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(150,701)	(31,570)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	(418,990)	(38,112)
Agency RMBS
Debt Securities, Available-For-Sale, Unrealized Loss Position, Fair Value [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	220,595	41,024
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	771,191	503,988
Debt Securities, Available-for-Sale, Unrealized Loss Position, Total	991,786	545,012
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(40,469)	(1,678)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(58,832)	(7,103)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	(99,301)	(8,781)
CMBS
Debt Securities, Available-For-Sale, Unrealized Loss Position, Fair Value [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	343,494	30,128
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	599,877	347,515
Debt Securities, Available-for-Sale, Unrealized Loss Position, Total	943,371	377,643
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(40,888)	(1,001)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(41,257)	(3,686)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	(82,145)	(4,687)
Non-agency RMBS
Debt Securities, Available-For-Sale, Unrealized Loss Position, Fair Value [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	75,137	4,481
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	53,484	109,937
Debt Securities, Available-for-Sale, Unrealized Loss Position, Total	128,621	114,418
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(14,691)	(523)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(3,834)	(1,500)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	(18,525)	(2,023)
ABS
Debt Securities, Available-For-Sale, Unrealized Loss Position, Fair Value [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	685,990	43,466
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	686,190	1,040,363
Debt Securities, Available-for-Sale, Unrealized Loss Position, Total	1,372,180	1,083,829
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(48,913)	(1,152)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(21,808)	(8,513)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	(70,721)	(9,665)
Municipals
Debt Securities, Available-For-Sale, Unrealized Loss Position, Fair Value [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer	52,994	5,293
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months	96,003	35,649
Debt Securities, Available-for-Sale, Unrealized Loss Position, Total	148,997	40,942
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(10,120)	(137)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(6,085)	(509)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	$ (16,205)	$ (646)

INVESTMENTS - Summary of Debt S

INVESTMENTS - Summary of Debt Securities, Held-to-Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss [Abstract]
Amortized cost	$ 698,351	$ 446,016
Allowance for expected credit losses	0	0
Net carrying value	698,351	446,016
Gross unrealized gains	0	99
Gross unrealized losses	(23,608)	(1,082)
Fair value	674,743	445,033
Corporate debt
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss [Abstract]
Amortized cost	85,200	37,700
Allowance for expected credit losses	0	0
Net carrying value	85,200	37,700
Gross unrealized gains	0	18
Gross unrealized losses	(11,428)	(146)
Fair value	73,772	37,572
ABS
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss [Abstract]
Amortized cost	613,151	408,316
Allowance for expected credit losses	0	0
Net carrying value	613,151	408,316
Gross unrealized gains	0	81
Gross unrealized losses	(12,180)	(936)
Fair value	$ 600,971	$ 407,461

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 01, 2022	Dec. 31, 2021	Dec. 31, 2022
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	$ 405,000
Allowance for expected credit losses		0	$ 0
Fixed maturities, held to maturity, at amortized cost		446,016	$ 698,351
Limited Partner
Schedule Of Available For Sale Securities [Line Items]
Percentage of investment composition (as a percent)			71%
ABS
Schedule Of Available For Sale Securities [Line Items]
Held to maturity securities with no single maturity date		408,000	$ 613,000
Allowance for expected credit losses		0	0
Fixed maturities, held to maturity, at amortized cost		408,316	613,151
Corporate debt
Schedule Of Available For Sale Securities [Line Items]
Allowance for expected credit losses		0	0
Held To Maturity Securities Debt Maturities After Three Through Ten Years Net Carrying Amount		34,000	81,000
Held to maturity securities due after ten years		4,000	4,000
Fixed maturities, held to maturity, at amortized cost		$ 37,700	$ 85,200

INVESTMENTS - Summary of Cost a

INVESTMENTS - Summary of Cost and Fair Value of Equity Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 494,356	$ 528,864
Gross unrealized gains	68,694	135,230
Gross unrealized losses	(77,797)	(8,419)
Fair value	485,253	655,675
Common stocks
Debt and Equity Securities, FV-NI [Line Items]
Cost	7,279	1,264
Gross unrealized gains	636	585
Gross unrealized losses	(442)	(485)
Fair value	7,473	1,364
Preferred stocks
Debt and Equity Securities, FV-NI [Line Items]
Cost	115	115
Gross unrealized gains	0	64
Gross unrealized losses	(43)	0
Fair value	72	179
Exchange-traded funds
Debt and Equity Securities, FV-NI [Line Items]
Cost	207,505	203,455
Gross unrealized gains	68,058	134,037
Gross unrealized losses	(5,757)	(677)
Fair value	269,806	336,815
Bond mutual funds
Debt and Equity Securities, FV-NI [Line Items]
Cost	279,457	324,030
Gross unrealized gains	0	544
Gross unrealized losses	(71,555)	(7,257)
Fair value	$ 207,902	$ 317,317

INVESTMENTS - Summary of Mortga

INVESTMENTS - Summary of Mortgage Loans Net of Valuation Allowance (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Mortgage loans held for investment:
Commercial	$ 627,437,000	$ 594,088,000
Commercial, percent	100%	100%
Total mortgage loans held for investment	$ 627,437,000	$ 594,088,000
Total mortgage loans held for investment, percent	100%	100%
Debt service coverage ratio, in excess of	2.3	2.5
Loan-to-value ratio, percent (less than)	60%	60%
Credit losses associated with commercial mortgage loans	$ 0	$ 0

INVESTMENTS - Summary of Portfo

INVESTMENTS - Summary of Portfolio of Other Investments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) fund	Dec. 31, 2021 USD ($)
Other Investments [Line Items]
Asset fair value	$ 996,751	$ 947,982
Percentage of total fair value	100%	100%
Unfunded commitments related to other investments	$ 508,000	$ 649,000
Long/short equity funds
Other Investments [Line Items]
Asset fair value	$ 0	$ 3,476
Percentage of total fair value	0%	0%
Redemption notice period		60 days
Multi-strategy funds
Other Investments [Line Items]
Asset fair value	$ 32,616	$ 56,012
Percentage of total fair value	3%	6%
Multi-strategy funds | Other Redemption Restriction
Other Investments [Line Items]
Redemption notice period	2 years
Unfunded commitments related to other investments	$ 26,000	$ 23,000
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	90 days
Direct lending funds
Other Investments [Line Items]
Asset fair value	$ 258,626	$ 289,867
Percentage of total fair value	26%	31%
Redemption notice period	90 days	90 days
Direct lending funds | Quarterly Redemption
Other Investments [Line Items]
Asset fair value	$ 39,000	$ 47,000
Number of funds | fund	1
Direct lending funds | Other Redemption Restriction
Other Investments [Line Items]
Unfunded commitments related to other investments	$ 183,000	224,000
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]
Asset fair value	$ 265,836	$ 249,974
Percentage of total fair value	27%	26%
Private equity funds | Other Redemption Restriction
Other Investments [Line Items]
Unfunded commitments related to other investments	$ 158,000	$ 178,000
Investment term	5 years
Real estate funds
Other Investments [Line Items]
Asset fair value	$ 298,499	$ 238,222
Percentage of total fair value	30%	25%
Redemption notice period		45 days
Real estate funds | Quarterly Redemption
Other Investments [Line Items]
Asset fair value	$ 73,000	$ 73,000
Number of funds | fund	1
Real estate funds | Annually Redemption
Other Investments [Line Items]
Asset fair value	$ 27,000	0
Number of funds | fund	1
Real estate funds | Other Redemption Restriction
Other Investments [Line Items]
Unfunded commitments related to other investments	$ 141,000	173,000
Real estate funds | Minimum
Other Investments [Line Items]
Redemption notice period	45 days
Real estate funds | Minimum | Other Redemption Restriction
Other Investments [Line Items]
Investment term	2 years
Real estate funds | Maximum
Other Investments [Line Items]
Redemption notice period	90 days
CLO-Equities
Other Investments [Line Items]
Asset fair value	$ 5,016	$ 5,910
Percentage of total fair value	0%	1%
Other privately held investments
Other Investments [Line Items]
Asset fair value	$ 136,158	$ 104,521
Percentage of total fair value	14%	11%
Hedge funds | Lockup Redemption Restriction
Other Investments [Line Items]
Fair value of other investments subject to redemption restrictions	$ 0	$ 3,000

INVESTMENTS - Equity method inv

INVESTMENTS - Equity method investments (Narrative) (Details) - Harrington Reinsurance Holdings Limited $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($)
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments	$ 108
Equity method investment, ownership percentage	19%
Equity method investment, difference between carrying amount and underlying equity	$ 5

INVESTMENTS - Summary of Net In

INVESTMENTS - Summary of Net Investment Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net Investment Income [Line Items]
Gross investment income	$ 444,506	$ 479,252	$ 374,271
Investment expenses	(25,677)	(24,951)	(24,670)
Net investment income	418,829	454,301	349,601
Fixed maturities
Net Investment Income [Line Items]
Gross investment income	329,858	262,049	317,121
Other investments
Net Investment Income [Line Items]
Gross investment income	57,043	181,906	16,059
Equity securities
Net Investment Income [Line Items]
Gross investment income	10,390	12,752	9,328
Mortgage loans
Net Investment Income [Line Items]
Gross investment income	23,407	17,427	15,432
Cash and cash equivalents
Net Investment Income [Line Items]
Gross investment income	20,273	4,454	13,582
Short-term investments
Net Investment Income [Line Items]
Gross investment income	$ 3,535	$ 664	$ 2,749

INVESTMENTS - Summary of Net _2

INVESTMENTS - Summary of Net Investment Gains (Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Gross realized investment gains
Fixed maturities and short-term investments	$ 16,671	$ 137,729	$ 186,726
Equity securities	7,687	5,413	25,648
Gross realized investment gains	24,358	143,142	212,374
Gross realized investment losses
Fixed maturities and short-term investments	(328,493)	(42,613)	(94,607)
Equity securities	(406)	(696)	(5,840)
Gross realized investment losses	(328,899)	(43,309)	(100,447)
Allowance for expected credit losses	(11,421)	11	(323)
Impairment losses	(12,568)	(22)	(1,486)
Unrealized and realized gains (loss) recognized in earnings for derivatives not designated as hedges	7,656	4,346	(2,434)
Net unrealized gains (losses) on equity securities	(135,915)	30,111	21,449
Total net investment gains (losses)	$ (456,789)	$ 134,279	$ 129,133

INVESTMENTS - Summary of Allowa

INVESTMENTS - Summary of Allowance for Credit Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 313	$ 323	$ 0
Expected credit losses on securities where credit losses were not previously recognized	17,830	95	22,570
Additions (reductions) for expected credit losses on securities where credit losses were previously recognized	(3,831)	50	(11,542)
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	(2,579)	(155)	(10,705)
Balance at end of period	$ 11,733	$ 313	$ 323

INVESTMENTS - Fixed Maturity Se

INVESTMENTS - Fixed Maturity Securities (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Available For Sale Securities [Line Items]
Fair value	$ 11,326,894	$ 12,313,200
Non-U.S. government
Schedule Of Available For Sale Securities [Line Items]
Unrealized losses	52,912	9,685
Foreign exchange loss	(24,000)
Fair value	562,029	795,178
CMBS
Schedule Of Available For Sale Securities [Line Items]
Unrealized losses	82,145	4,687
Fair value	$ 947,778	$ 1,248,191
CMBS | Weighted average
Schedule Of Available For Sale Securities [Line Items]
Subordination percentage input for determining credit losses	38%	37%
Non-agency RMBS
Schedule Of Available For Sale Securities [Line Items]
Unrealized losses	$ 18,525	$ 2,023
Fair value	133,534	186,164
Non-agency RMBS | Prime
Schedule Of Available For Sale Securities [Line Items]
Fair value	39,000	87,000
Non-agency RMBS | Alt A
Schedule Of Available For Sale Securities [Line Items]
Fair value	$ 76,000	$ 74,000

INVESTMENTS - Summary of Restri

INVESTMENTS - Summary of Restricted Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Restricted Investments [Line Items]
Collateral in Trust for inter-company agreements	$ 790,449	$ 886,903
Collateral for secured letter of credit facility	424,624	402,478
Funds at Lloyd's	748,573	936,862
Collateral in Trust for third-party agreements	2,491,317	2,412,882
Securities on deposit or in trust with regulatory authorities	731,660	729,072
Total restricted investments and cash	5,186,623	5,368,197
Syndicate 1686 | Fixed maturities
Restricted Investments [Line Items]
Collateral in Trust for third-party agreements	539,000	507,000
Syndicate 1686 | Cash
Restricted Investments [Line Items]
Collateral in Trust for third-party agreements	$ 217,000	$ 326,000
Axis Corporate Capital UK Limited
Restricted Investments [Line Items]
Capital support, percentage	70%
Axis Corporate Capital UK Limited II
Restricted Investments [Line Items]
Capital support, percentage	30%

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Financial Instruments Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets
Fixed maturities, available for sale	$ 11,326,894	$ 12,313,200
Equity securities	485,253	655,675
Other investments	996,751	947,982
Short-term investments	70,310	31,063
Derivative instruments	37,682	3,116
Total Assets	12,916,890	13,951,036
Liabilities
Derivative instruments	703	20,617
Cash-settled awards	4,792	9,091
Total Liabilities	5,495	29,708
U.S. government and agency
Assets
Fixed maturities, available for sale	2,639,330	2,682,448
Non-U.S. government
Assets
Fixed maturities, available for sale	562,029	795,178
Corporate debt
Assets
Fixed maturities, available for sale	4,255,556	4,495,312
Agency RMBS
Assets
Fixed maturities, available for sale	1,202,785	1,074,589
CMBS
Assets
Fixed maturities, available for sale	947,778	1,248,191
Non-agency RMBS
Assets
Fixed maturities, available for sale	133,534	186,164
ABS
Assets
Fixed maturities, available for sale	1,429,527	1,622,480
Municipals
Assets
Fixed maturities, available for sale	156,355	208,838
Common stocks
Assets
Equity securities	7,473	1,364
Preferred stocks
Assets
Equity securities	72	179
Exchange-traded funds
Assets
Equity securities	269,806	336,815
Bond mutual funds
Assets
Equity securities	207,902	317,317
Hedge funds
Assets
Other investments	32,616	59,488
Direct lending funds
Assets
Other investments	258,626	289,867
Private equity funds
Assets
Other investments	265,836	249,974
Real estate funds
Assets
Other investments	298,499	238,222
CLO-Equities
Assets
Other investments	5,016	5,910
Other privately held investments
Assets
Other investments	136,158	104,521
Quoted prices in active markets for identical assets (Level 1)
Assets
Fixed maturities, available for sale	2,600,636	2,632,541
Equity securities	277,351	338,358
Other investments	0	0
Short-term investments	0	0
Derivative instruments	0	0
Total Assets	2,877,987	2,970,899
Liabilities
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
Assets
Fixed maturities, available for sale	2,600,636	2,632,541
Quoted prices in active markets for identical assets (Level 1) | Non-U.S. government
Assets
Fixed maturities, available for sale	0	0
Quoted prices in active markets for identical assets (Level 1) | Corporate debt
Assets
Fixed maturities, available for sale	0	0
Quoted prices in active markets for identical assets (Level 1) | Agency RMBS
Assets
Fixed maturities, available for sale	0	0
Quoted prices in active markets for identical assets (Level 1) | CMBS
Assets
Fixed maturities, available for sale	0	0
Quoted prices in active markets for identical assets (Level 1) | Non-agency RMBS
Assets
Fixed maturities, available for sale	0	0
Quoted prices in active markets for identical assets (Level 1) | ABS
Assets
Fixed maturities, available for sale	0	0
Quoted prices in active markets for identical assets (Level 1) | Municipals
Assets
Fixed maturities, available for sale	0	0
Quoted prices in active markets for identical assets (Level 1) | Common stocks
Assets
Equity securities	7,473	1,364
Quoted prices in active markets for identical assets (Level 1) | Preferred stocks
Assets
Equity securities	72	179
Quoted prices in active markets for identical assets (Level 1) | Exchange-traded funds
Assets
Equity securities	269,806	336,815
Quoted prices in active markets for identical assets (Level 1) | Bond mutual funds
Assets
Equity securities	0	0
Quoted prices in active markets for identical assets (Level 1) | Hedge funds
Assets
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | Direct lending funds
Assets
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | Private equity funds
Assets
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | Real estate funds
Assets
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | CLO-Equities
Assets
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | Other privately held investments
Assets
Other investments	0	0
Significant other observable inputs (Level 2)
Assets
Fixed maturities, available for sale	8,607,154	9,637,765
Equity securities	207,902	317,317
Other investments	0	0
Short-term investments	70,310	31,063
Derivative instruments	37,682	3,116
Total Assets	8,923,048	9,989,261
Liabilities
Derivative instruments	703	14,987
Cash-settled awards	4,792	9,091
Total Liabilities	5,495	24,078
Significant other observable inputs (Level 2) | U.S. government and agency
Assets
Fixed maturities, available for sale	38,694	49,907
Significant other observable inputs (Level 2) | Non-U.S. government
Assets
Fixed maturities, available for sale	562,029	795,178
Significant other observable inputs (Level 2) | Corporate debt
Assets
Fixed maturities, available for sale	4,136,452	4,452,418
Significant other observable inputs (Level 2) | Agency RMBS
Assets
Fixed maturities, available for sale	1,202,785	1,074,589
Significant other observable inputs (Level 2) | CMBS
Assets
Fixed maturities, available for sale	947,778	1,248,191
Significant other observable inputs (Level 2) | Non-agency RMBS
Assets
Fixed maturities, available for sale	133,534	186,164
Significant other observable inputs (Level 2) | ABS
Assets
Fixed maturities, available for sale	1,429,527	1,622,480
Significant other observable inputs (Level 2) | Municipals
Assets
Fixed maturities, available for sale	156,355	208,838
Significant other observable inputs (Level 2) | Common stocks
Assets
Equity securities	0	0
Significant other observable inputs (Level 2) | Preferred stocks
Assets
Equity securities	0	0
Significant other observable inputs (Level 2) | Exchange-traded funds
Assets
Equity securities	0	0
Significant other observable inputs (Level 2) | Bond mutual funds
Assets
Equity securities	207,902	317,317
Significant other observable inputs (Level 2) | Hedge funds
Assets
Other investments	0	0
Significant other observable inputs (Level 2) | Direct lending funds
Assets
Other investments	0	0
Significant other observable inputs (Level 2) | Private equity funds
Assets
Other investments	0	0
Significant other observable inputs (Level 2) | Real estate funds
Assets
Other investments	0	0
Significant other observable inputs (Level 2) | CLO-Equities
Assets
Other investments	0	0
Significant other observable inputs (Level 2) | Other privately held investments
Assets
Other investments	0	0
Significant unobservable inputs (Level 3)
Assets
Fixed maturities, available for sale	119,104	42,894
Equity securities	0	0
Other investments	141,174	110,431
Short-term investments	0	0
Derivative instruments	0	0
Total Assets	260,278	153,325
Liabilities
Derivative instruments	0	5,630
Cash-settled awards	0	0
Total Liabilities	0	5,630
Significant unobservable inputs (Level 3) | U.S. government and agency
Assets
Fixed maturities, available for sale	0	0
Significant unobservable inputs (Level 3) | Non-U.S. government
Assets
Fixed maturities, available for sale	0	0
Significant unobservable inputs (Level 3) | Corporate debt
Assets
Fixed maturities, available for sale	119,104	42,894
Significant unobservable inputs (Level 3) | Agency RMBS
Assets
Fixed maturities, available for sale	0	0
Significant unobservable inputs (Level 3) | CMBS
Assets
Fixed maturities, available for sale	0	0
Significant unobservable inputs (Level 3) | Non-agency RMBS
Assets
Fixed maturities, available for sale	0	0
Significant unobservable inputs (Level 3) | ABS
Assets
Fixed maturities, available for sale	0	0
Significant unobservable inputs (Level 3) | Municipals
Assets
Fixed maturities, available for sale	0	0
Significant unobservable inputs (Level 3) | Common stocks
Assets
Equity securities	0	0
Significant unobservable inputs (Level 3) | Preferred stocks
Assets
Equity securities	0	0
Significant unobservable inputs (Level 3) | Exchange-traded funds
Assets
Equity securities	0	0
Significant unobservable inputs (Level 3) | Bond mutual funds
Assets
Equity securities	0	0
Significant unobservable inputs (Level 3) | Hedge funds
Assets
Other investments	0	0
Significant unobservable inputs (Level 3) | Direct lending funds
Assets
Other investments	0	0
Significant unobservable inputs (Level 3) | Private equity funds
Assets
Other investments	0	0
Significant unobservable inputs (Level 3) | Real estate funds
Assets
Other investments	0	0
Significant unobservable inputs (Level 3) | CLO-Equities
Assets
Other investments	5,016	5,910
Significant unobservable inputs (Level 3) | Other privately held investments
Assets
Other investments	136,158	104,521
Fair value based on NAV practical expedient
Assets
Other investments	855,577	837,551
Total Assets	855,577	837,551
Fair value based on NAV practical expedient | Hedge funds
Assets
Other investments	32,616	59,488
Fair value based on NAV practical expedient | Direct lending funds
Assets
Other investments	258,626	289,867
Fair value based on NAV practical expedient | Private equity funds
Assets
Other investments	265,836	249,974
Fair value based on NAV practical expedient | Real estate funds
Assets
Other investments	298,499	238,222
Fair value based on NAV practical expedient | CLO-Equities
Assets
Other investments	0	0
Fair value based on NAV practical expedient | Other privately held investments
Assets
Other investments	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Sum_2

FAIR VALUE MEASUREMENTS - Summary of Level 3 Fair Value Measurement Inputs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair Value Inputs Assets Quantitative Information [Line Items]
Asset fair value	$ 996,751	$ 947,982
Fixed maturities, available for sale	11,326,894	12,313,200
Significant unobservable inputs (Level 3)
Fair Value Inputs Assets Quantitative Information [Line Items]
Asset fair value	141,174	110,431
Fixed maturities, available for sale	119,104	$ 42,894
Significant unobservable inputs (Level 3) | Discounted cash flow | CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Asset fair value	$ 5,016
Estimated maturity date (years)	5 years
Significant unobservable inputs (Level 3) | Discounted cash flow | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Asset fair value	$ 17,169
Significant unobservable inputs (Level 3) | Discounted cash flow | Minimum | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Estimated maturity date (years)	1 year
Significant unobservable inputs (Level 3) | Discounted cash flow | Maximum | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Estimated maturity date (years)	3 years
Significant unobservable inputs (Level 3) | Discounted cash flow | Weighted average | CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Estimated maturity date (years)	5 years
Significant unobservable inputs (Level 3) | Discounted cash flow | Weighted average | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Estimated maturity date (years)	2 years
Significant unobservable inputs (Level 3) | Discounted cash flow | Discount rate | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.066
Significant unobservable inputs (Level 3) | Discounted cash flow | Discount rate | Weighted average | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.066
Significant unobservable inputs (Level 3) | 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) | Discounted cash flow | Default rate | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.005
Significant unobservable inputs (Level 3) | Discounted cash flow | Default rate | Weighted average | CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.045
Significant unobservable inputs (Level 3) | Discounted cash flow | Default rate | Weighted average | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.005
Significant unobservable inputs (Level 3) | 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) | Discounted cash flow | Loss severity rate | Weighted average | CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.500
Significant unobservable inputs (Level 3) | 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) | Discounted cash flow | Collateral spread | Weighted average | CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.030
Significant unobservable inputs (Level 3) | Discounted cash flow | 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) | Discounted cash flow | Loss absorption yield | Weighted average | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Discounted cash flow	0.010
Significant unobservable inputs (Level 3) | Valuation, Market Approach | Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Asset fair value	$ 119,000

FAIR VALUE MEASUREMENTS - Sum_3

FAIR VALUE MEASUREMENTS - Summary of Changes in Level 3 for Financial Instruments Measured at Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]
Change in unrealized gain/(losses)	$ 16,257	$ 28,092
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	153,325	91,093
Transfers into Level 3	0	0
Transfers out of Level 3	0	(10,200)
Included in net income	16,153	45,472
Included in OCI	(9,014)	(594)
Purchases	110,121	63,560
Sales	0	(26,980)
Settlements/ distributions	(10,307)	(9,026)
Closing balance	260,278	153,325
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	5,630	9,122
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	(3,542)	(2,742)
Included in OCI	0	0
Purchases	0	0
Sales	0	0
Settlements/ distributions	(2,088)	(750)
Closing balance	0	5,630
Change in unrealized gains/(losses)	$ 0	$ (1,769)
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net investment income, Net Investment Gain (Loss)	Net investment income, Net Investment Gain (Loss)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net investment income, Net Investment Gain (Loss)	Net investment income, Net Investment Gain (Loss)
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Unrealized gains (losses) arising during the year	Unrealized gains (losses) arising during the year
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net investment income, Net Investment Gain (Loss)	Net investment income, Net Investment Gain (Loss)
FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfOtherComprehensiveIncomeExtensibleListNotDisclosedFlag	Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
Fixed maturities
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]
Change in unrealized gain/(losses)	$ 0	$ 0
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	42,894	14,909
Transfers into Level 3	0	0
Transfers out of Level 3	0	(10,200)
Included in net income	(104)	0
Included in OCI	(9,014)	(594)
Purchases	90,130	41,800
Sales	0	0
Settlements/ distributions	(4,802)	(3,021)
Closing balance	119,104	42,894
Other investments
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]
Change in unrealized gain/(losses)	16,257	28,092
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	110,431	76,184
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	16,257	45,472
Included in OCI	0	0
Purchases	19,991	21,760
Sales	0	(26,980)
Settlements/ distributions	(5,505)	(6,005)
Closing balance	141,174	110,431
Corporate debt | Fixed maturities
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]
Change in unrealized gain/(losses)	0	0
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	42,894	2,504
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	(104)	0
Included in OCI	(9,014)	(642)
Purchases	90,130	41,800
Sales	0	0
Settlements/ distributions	(4,802)	(768)
Closing balance	119,104	42,894
CMBS | Fixed maturities
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]
Change in unrealized gain/(losses)	0	0
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	0	1,740
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	0	0
Included in OCI	0	13
Purchases	0	0
Sales	0	0
Settlements/ distributions	0	(1,753)
Closing balance	0	0
ABS | Fixed maturities
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]
Change in unrealized gain/(losses)	0	0
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	0	10,665
Transfers into Level 3	0	0
Transfers out of Level 3	0	(10,200)
Included in net income	0	0
Included in OCI	0	35
Purchases	0	0
Sales	0	0
Settlements/ distributions	0	(500)
Closing balance	0	0
CLO-Equities | Other investments
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]
Change in unrealized gain/(losses)	2,611	2,819
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	5,910	6,173
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	2,611	2,819
Included in OCI	0	0
Purchases	0	0
Sales	0	0
Settlements/ distributions	(3,505)	(3,082)
Closing balance	5,016	5,910
Other privately held investments | Other investments
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]
Change in unrealized gain/(losses)	13,646	25,273
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	104,521	70,011
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	13,646	42,653
Included in OCI	0	0
Purchases	19,991	21,760
Sales	0	(26,980)
Settlements/ distributions	(2,000)	(2,923)
Closing balance	136,158	104,521
Derivative instruments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	5,630	9,122
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	(3,542)	(2,742)
Included in OCI	0	0
Purchases	0	0
Sales	0	0
Settlements/ distributions	(2,088)	(750)
Closing balance	0	5,630
Change in unrealized gains/(losses)	$ 0	$ (1,769)

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fixed maturities, held to maturity, at amortized cost	$ 698,351	$ 446,016
Fair value	674,743	445,033
Advances from FHLB	81,388	0
Borrowings from FHLB	81,000	0
Reported Value Measurement
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	1,312,000	1,311,000
Estimate of Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	$ 1,160,000	$ 1,453,000

DERIVATIVE INSTRUMENTS - Summar

DERIVATIVE INSTRUMENTS - Summary of Location and Amounts of Derivative Fair Values on the Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative asset fair value	$ 37,682	$ 3,116
Derivative liability fair value	$ 703	$ 20,617
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities
Not Designated as Hedging Instruments
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative asset fair value	$ 37,682	$ 3,116
Derivative liability fair value	703	20,617
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	54,076	184,187
Derivative asset fair value	81	13
Derivative liability fair value	559	1,463
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	1,441,273	1,258,836
Derivative asset fair value	37,601	3,103
Derivative liability fair value	144	13,524
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	0	50,000
Derivative asset fair value	0	0
Derivative liability fair value	$ 0	$ 5,630

DERIVATIVE INSTRUMENTS - Summ_2

DERIVATIVE INSTRUMENTS - Summary of Offsetting Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivative assets
Gross amounts	$ 41,762	$ 9,047
Gross amounts offset	(4,080)	(5,931)
Net Amounts	37,682	3,116
Derivative liabilities
Gross amounts	4,783	26,548
Gross amounts offset	(4,080)	(5,931)
Net Amounts	$ 703	$ 20,617

DERIVATIVE INSTRUMENTS - Summ_3

DERIVATIVE INSTRUMENTS - Summary of Total Unrealized and Realized Gains (Loss) on Derivatives Not Designated as Hedges Recorded in Earnings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (loss) recognized in earnings for derivatives not designated as hedges	$ 7,656	$ 4,346	$ (2,434)
Not Designated as Hedging Instruments
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (loss) recognized in earnings for derivatives not designated as hedges	(20,411)	(43,650)	32,697
Not Designated as Hedging Instruments | 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 (loss) recognized in earnings for derivatives not designated as hedges	7,656	4,346	(2,434)
Not Designated as Hedging Instruments | Relating to underwriting portfolio: | Foreign exchange forward contracts | Foreign exchange (losses) gains
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (loss) recognized in earnings for derivatives not designated as hedges	(31,609)	(50,738)	44,166
Not Designated as Hedging Instruments | Relating to underwriting portfolio: | Other underwriting-related contracts | Other insurance related income (loss)
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (loss) recognized in earnings for derivatives not designated as hedges	$ 3,542	$ 2,742	$ (9,035)

RESERVE FOR LOSSES AND LOSS E_3

RESERVE FOR LOSSES AND LOSS EXPENSES - Narrative (Details)	12 Months Ended
	Dec. 31, 2022	Aug. 05, 2019	Mar. 20, 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 | Minimum
Claims Development [Line Items]
Discount rate (percent)		(0.75%)	2.50%
Motor Reserve Class | Reinsurance | Maximum
Claims Development [Line Items]
Discount rate (percent)		(0.25%)	(0.75%)

RESERVE FOR LOSSES AND LOSS E_4

RESERVE FOR LOSSES AND LOSS EXPENSES - Summary of Reserve for Losses and Loss Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Insurance Loss Reserves [Abstract]
Reserve for reported losses and loss expenses	$ 5,555,865	$ 5,539,971
Reserve for losses incurred but not reported	9,612,998	9,113,123
Reserve for losses and loss expenses	$ 15,168,863	$ 14,653,094	$ 13,926,766	$ 12,752,081

RESERVE FOR LOSSES AND LOSS E_5

RESERVE FOR LOSSES AND LOSS EXPENSES - Summary of Reserve Roll-Forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Beginning and Ending Gross Unpaid Losses and Loss Expenses
Gross reserve for losses and loss expenses, beginning of year	$ 14,653,094	$ 13,926,766	$ 12,752,081
Less reinsurance recoverable on unpaid losses, beginning of year	(5,017,611)	(4,496,641)	(3,877,756)
Net reserve for unpaid losses and loss expenses, beginning of year	9,635,483	9,430,125	8,874,325
Net incurred losses and loss expenses related to:
Current year	3,267,943	3,041,193	3,297,161
Prior years	(25,533)	(32,410)	(15,909)
Net incurred losses and loss expenses	3,242,410	3,008,783	3,281,252
Net paid losses and loss expenses related to:
Current year	(457,857)	(490,011)	(571,442)
Prior years	(2,397,213)	(2,274,240)	(2,365,959)
Net paid losses and loss expenses	(2,855,070)	(2,764,251)	(2,937,401)
Foreign exchange and other	(685,132)	(39,174)	211,949
Net reserve for unpaid losses and loss expenses, end of year	9,337,691	9,635,483	9,430,125
Reinsurance recoverable on unpaid losses, end of year	5,831,172	5,017,611	4,496,641
Gross reserve for losses and loss expenses, end of year	$ 15,168,863	$ 14,653,094	$ 13,926,766

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Additional Information Related to Net Incurred Losses [Line Items]
Net losses and loss expenses, net of reinstatement premiums	$ 3,267,943	$ 3,041,193	$ 3,297,161
Foreign exchange and other	685,132	39,174	(211,949)
Syndicate 2007
Additional Information Related to Net Incurred Losses [Line Items]
Foreign exchange and other		(49,000)
Third Party - Loss Portfolio Transfer
Additional Information Related to Net Incurred Losses [Line Items]
Foreign exchange and other	(422,000)
Catastrophe and Weather-related Events
Additional Information Related to Net Incurred Losses [Line Items]
Net losses and loss expenses, net of reinstatement premiums	$ 403,000	$ 443,000	$ 774,000

RESERVE FOR LOSSES AND LOSS E_7

RESERVE FOR LOSSES AND LOSS EXPENSES - Summary of Prior Year Development (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior year favorable (adverse) adjustments	$ 25,533	$ 32,410	$ 15,909
Insurance
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior year favorable (adverse) adjustments	16,350	18,360	8,937
Reinsurance
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior year favorable (adverse) adjustments	$ 9,183	$ 14,049	$ 6,972

RESERVE FOR LOSSES AND LOSS E_8

RESERVE FOR LOSSES AND LOSS EXPENSES - Summary of Prior Year Reserve Development by Segment and Reserving Class (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	$ 25,533	$ 32,410	$ 15,909
Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	16,350	18,360	8,937
Insurance | Property
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	52,512	71,032	44,054
Insurance | Accident and health
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	(12,856)	15,844	2,738
Insurance | Marine and aviation
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	27,927	42,535	23,195
Insurance | Cyber
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	8,416	(7,329)	2,205
Insurance | Professional lines
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	(29,093)	(71,258)	(37,866)
Insurance | Credit and political risk
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	24,361	10,363	(745)
Insurance | Liability
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	(54,917)	(42,827)	(24,644)
Reinsurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	9,183	14,049	6,972
Reinsurance | Accident and health
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	14,199	5,861	7,373
Reinsurance | Marine and aviation
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	2,597	(10,767)	(12,664)
Reinsurance | Professional lines
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	(54,820)	(23,718)	(15,352)
Reinsurance | Liability
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	(58,148)	(17,919)	(29,656)
Reinsurance | Motor
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	18,161	43,968	21,086
Reinsurance | Credit and surety
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	43,567	3,436	36,828
Reinsurance | Agriculture
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	11,703	423	5,606
Reinsurance | Run Off Lines
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	31,924	12,765	(6,249)
Reinsurance | Run Off Lines | Property
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	42,523	17,651	6,818
Reinsurance | Run Off Lines | Catastrophe
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	(504)	(36)	(3,547)
Reinsurance | Run Off Lines | Engineering
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year favorable (adverse) adjustments	$ (10,095)	$ (4,850)	$ (9,520)

RESERVE FOR LOSSES AND LOSS E_9

RESERVE FOR LOSSES AND LOSS EXPENSES - Summary of Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance (Details) $ in Thousands	Dec. 31, 2022 USD ($) claim	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Insurance | Property
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 3,940,350
Insurance | Property | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	239,662	$ 239,749	$ 239,742	$ 240,025	$ 241,593	$ 231,357	$ 232,389	$ 236,276	$ 263,335	$ 269,749
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 608
Cumulative number of reported claims | claim	3,455
Insurance | Property | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 252,842	252,918	255,612	259,507	261,928	262,345	276,777	287,038	288,993
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 846
Cumulative number of reported claims | claim	4,128
Insurance | Property | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 180,614	178,338	188,334	186,403	189,724	191,987	199,738	207,460
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 322
Cumulative number of reported claims | claim	4,168
Insurance | Property | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 258,432	259,012	258,563	264,244	278,599	286,359	263,277
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,763
Cumulative number of reported claims | claim	6,589
Insurance | Property | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 674,955	674,642	679,272	688,738	696,217	790,282
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 16,736
Cumulative number of reported claims | claim	10,037
Insurance | Property | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 619,470	620,745	628,383	648,546	601,920
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 8,696
Cumulative number of reported claims | claim	9,586
Insurance | Property | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 356,278	344,865	354,498	365,895
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 3,174
Cumulative number of reported claims | claim	9,470
Insurance | Property | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 574,412	625,403	639,024
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 45,011
Cumulative number of reported claims | claim	12,282
Insurance | Property | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 371,684	375,903
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 22,282
Cumulative number of reported claims | claim	7,562
Insurance | Property | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 412,001
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 168,886
Cumulative number of reported claims | claim	5,412
Insurance | Accident and health
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 777,271
Insurance | Accident and health | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	35,353	33,916	32,794	33,026	35,245	35,045	34,383	34,413	34,160	38,763
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,220
Cumulative number of reported claims | claim	49,549
Insurance | Accident and health | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 61,479	62,846	63,645	64,420	63,685	64,057	65,588	66,137	70,803
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 656
Cumulative number of reported claims | claim	58,081
Insurance | Accident and health | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 62,958	62,298	62,966	63,278	62,720	64,511	67,991	69,643
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,495
Cumulative number of reported claims | claim	44,138
Insurance | Accident and health | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 85,738	85,938	84,921	85,247	84,118	83,697	84,024
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,597
Cumulative number of reported claims | claim	87,001
Insurance | Accident and health | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 114,738	114,855	114,782	116,690	118,736	112,583
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 160
Cumulative number of reported claims | claim	688,000
Insurance | Accident and health | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 111,865	110,861	112,819	113,711	109,900
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 170
Cumulative number of reported claims | claim	738,139
Insurance | Accident and health | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 68,074	64,586	74,084	72,971
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ (482)
Cumulative number of reported claims | claim	668,008
Insurance | Accident and health | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 66,975	63,476	69,316
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,475
Cumulative number of reported claims | claim	713,198
Insurance | Accident and health | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 71,672	69,349
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,695
Cumulative number of reported claims | claim	418,260
Insurance | Accident and health | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 98,419
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 46,362
Cumulative number of reported claims | claim	227,274
Insurance | Marine and aviation
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 1,717,347
Insurance | Marine and aviation | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	94,037	95,315	94,661	95,565	95,389	95,998	110,382	109,330	115,403	94,098
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 618
Cumulative number of reported claims | claim	3,401
Insurance | Marine and aviation | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 52,696	53,409	56,132	64,264	66,228	64,952	71,356	66,912	79,979
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 922
Cumulative number of reported claims | claim	3,550
Insurance | Marine and aviation | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 146,338	146,411	146,923	141,433	154,835	162,516	166,614	187,548
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,083
Cumulative number of reported claims | claim	4,292
Insurance | Marine and aviation | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 101,331	100,428	101,293	101,880	109,445	111,852	115,466
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,236
Cumulative number of reported claims | claim	4,821
Insurance | Marine and aviation | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 219,134	219,372	227,315	229,379	228,267	260,951
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 13,765
Cumulative number of reported claims | claim	8,537
Insurance | Marine and aviation | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 234,514	241,156	247,886	261,748	236,572
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 22,650
Cumulative number of reported claims | claim	8,699
Insurance | Marine and aviation | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 221,420	208,657	205,829	211,337
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 9,334
Cumulative number of reported claims | claim	7,566
Insurance | Marine and aviation | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 161,972	178,479	206,992
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 24,006
Cumulative number of reported claims | claim	6,741
Insurance | Marine and aviation | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 221,510	240,192
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 68,116
Cumulative number of reported claims | claim	6,354
Insurance | Marine and aviation | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 264,395
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 179,643
Cumulative number of reported claims | claim	5,240
Insurance | Cyber
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 675,374
Insurance | Cyber | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	35,564	32,557	32,591	33,537	34,399	42,557	47,310	65,870	66,409	67,211
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 5,447
Cumulative number of reported claims | claim	1,335
Insurance | Cyber | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 39,832	43,576	39,516	42,887	47,342	57,876	69,955	69,690	70,557
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,733
Cumulative number of reported claims | claim	1,114
Insurance | Cyber | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 49,795	52,526	50,758	50,357	51,250	63,066	63,595	65,231
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 5,857
Cumulative number of reported claims | claim	1,337
Insurance | Cyber | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 27,873	29,929	37,322	40,266	58,261	56,565	58,741
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 4,478
Cumulative number of reported claims | claim	1,532
Insurance | Cyber | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 49,327	51,050	52,058	56,910	50,794	53,187
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 6,722
Cumulative number of reported claims | claim	1,623
Insurance | Cyber | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 27,332	31,009	34,151	32,155	33,429
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 5,745
Cumulative number of reported claims | claim	1,966
Insurance | Cyber | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 81,402	81,757	58,702	54,671
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 16,951
Cumulative number of reported claims | claim	2,796
Insurance | Cyber | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 102,606	105,868	113,744
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 22,194
Cumulative number of reported claims | claim	2,821
Insurance | Cyber | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 133,673	124,596
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 50,583
Cumulative number of reported claims | claim	2,356
Insurance | Cyber | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 127,970
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 110,682
Cumulative number of reported claims | claim	1,341
Insurance | Professional lines
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 3,575,139
Insurance | Professional lines | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	290,531	295,366	298,702	294,284	315,038	305,212	311,998	326,531	327,011	314,230
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 23,664
Cumulative number of reported claims | claim	8,148
Insurance | Professional lines | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 299,310	301,754	302,187	304,932	317,641	327,693	344,642	335,403	335,549
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 39,805
Cumulative number of reported claims | claim	8,759
Insurance | Professional lines | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 281,916	269,672	270,904	287,955	301,324	314,890	307,995	307,130
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 24,939
Cumulative number of reported claims | claim	9,211
Insurance | Professional lines | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 338,634	335,757	325,816	313,363	295,253	291,012	286,248
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 32,529
Cumulative number of reported claims | claim	10,424
Insurance | Professional lines | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 389,053	388,973	371,589	371,629	338,031	335,706
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 72,532
Cumulative number of reported claims | claim	12,380
Insurance | Professional lines | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 445,652	417,600	387,583	338,625	322,911
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 93,119
Cumulative number of reported claims | claim	14,996
Insurance | Professional lines | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 408,585	373,074	358,459	342,656
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 121,148
Cumulative number of reported claims | claim	14,335
Insurance | Professional lines | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 299,008	317,999	319,015
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 166,308
Cumulative number of reported claims | claim	9,128
Insurance | Professional lines | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 366,258	374,828
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 305,139
Cumulative number of reported claims | claim	7,766
Insurance | Professional lines | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 456,192
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 436,877
Cumulative number of reported claims | claim	6,263
Insurance | Credit and political risk
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 377,579
Insurance | Credit and political risk | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	12,151	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	$ 0
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	$ 69,677	69,112	70,748	71,274	69,589	68,323	67,109	70,712	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	$ 23,309	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	$ 0
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	$ 25,291	26,371	27,352	43,566	42,995	45,485	44,175
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 0
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	$ 11,993	16,952	19,234	27,007	32,612	47,934
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 4,283
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	$ 22,577	26,231	34,240	35,296	42,588
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 9,191
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	$ 70,888	72,450	77,987	50,079
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 7,985
Cumulative number of reported claims | claim	20
Insurance | Credit and political risk | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 59,519	68,347	59,758
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 25,535
Cumulative number of reported claims | claim	39
Insurance | Credit and political risk | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 36,943	42,229
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 30,912
Cumulative number of reported claims | claim	17
Insurance | Credit and political risk | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 45,231
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 40,828
Cumulative number of reported claims | claim	13
Insurance | Liability
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 2,009,958
Insurance | Liability | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	97,047	94,196	89,897	91,938	95,978	93,677	88,237	95,170	95,304	93,230
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 12,187
Cumulative number of reported claims | claim	3,737
Insurance | Liability | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 132,659	132,029	132,551	131,461	132,006	130,659	129,725	124,264	107,115
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 12,691
Cumulative number of reported claims | claim	5,531
Insurance | Liability | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 188,577	186,853	187,927	182,612	164,915	137,385	127,236	128,435
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 22,972
Cumulative number of reported claims | claim	6,574
Insurance | Liability | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 125,644	120,101	120,116	127,366	128,782	130,127	124,307
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 21,537
Cumulative number of reported claims | claim	7,417
Insurance | Liability | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 215,101	204,612	200,470	184,847	165,415	166,717
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 21,746
Cumulative number of reported claims | claim	8,629
Insurance | Liability | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 216,530	204,879	190,809	167,808	166,973
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 29,705
Cumulative number of reported claims | claim	8,473
Insurance | Liability | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 236,959	221,266	191,683	190,645
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 43,102
Cumulative number of reported claims | claim	7,936
Insurance | Liability | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 230,421	223,996	223,579
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 113,650
Cumulative number of reported claims | claim	5,848
Insurance | Liability | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 244,972	231,189
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 150,924
Cumulative number of reported claims | claim	5,965
Insurance | Liability | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 322,048
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 282,198
Cumulative number of reported claims | claim	4,657
Reinsurance | Accident and health
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	$ 1,777,335
Reinsurance | Accident and health | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	111,294	111,277	111,198	111,162	111,162	111,155	111,623	113,009	113,631	108,977
Total of incurred-but-not-reported liabilities plus expected development on reported claims	757
Reinsurance | Accident and health | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	87,906	88,021	87,734	86,774	86,772	86,765	89,238	102,354	101,383
Total of incurred-but-not-reported liabilities plus expected development on reported claims	1,106
Reinsurance | Accident and health | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	92,313	92,350	93,341	93,007	93,722	93,964	100,434	93,792
Total of incurred-but-not-reported liabilities plus expected development on reported claims	(1,876)
Reinsurance | Accident and health | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	190,356	190,426	189,403	189,929	188,320	191,188	170,644
Total of incurred-but-not-reported liabilities plus expected development on reported claims	(613)
Reinsurance | Accident and health | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	183,077	183,120	182,097	183,286	189,430	183,817
Total of incurred-but-not-reported liabilities plus expected development on reported claims	1,528
Reinsurance | Accident and health | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	200,190	200,854	198,105	200,269	193,667
Total of incurred-but-not-reported liabilities plus expected development on reported claims	4,693
Reinsurance | Accident and health | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	204,951	207,347	211,896	217,320
Total of incurred-but-not-reported liabilities plus expected development on reported claims	5,896
Reinsurance | Accident and health | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	213,230	220,334	226,549
Total of incurred-but-not-reported liabilities plus expected development on reported claims	(7,052)
Reinsurance | Accident and health | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	226,659	231,754
Total of incurred-but-not-reported liabilities plus expected development on reported claims	26,816
Reinsurance | Accident and health | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	267,359
Total of incurred-but-not-reported liabilities plus expected development on reported claims	146,819
Reinsurance | Marine and aviation
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	381,834
Reinsurance | Marine and aviation | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	6,599	6,575	6,558	6,226	6,523	6,560	6,487	6,676	12,441	11,961
Total of incurred-but-not-reported liabilities plus expected development on reported claims	(565)
Reinsurance | Marine and aviation | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	9,505	9,003	8,764	8,514	9,166	7,182	7,990	9,142	10,183
Total of incurred-but-not-reported liabilities plus expected development on reported claims	423
Reinsurance | Marine and aviation | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	11,968	12,016	12,251	12,620	14,979	10,806	9,217	10,363
Total of incurred-but-not-reported liabilities plus expected development on reported claims	418
Reinsurance | Marine and aviation | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	36,238	35,834	35,511	36,996	35,605	35,330	32,280
Total of incurred-but-not-reported liabilities plus expected development on reported claims	625
Reinsurance | Marine and aviation | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	40,887	43,230	46,608	41,360	42,760	55,072
Total of incurred-but-not-reported liabilities plus expected development on reported claims	844
Reinsurance | Marine and aviation | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	47,522	44,042	27,609	28,072	18,830
Total of incurred-but-not-reported liabilities plus expected development on reported claims	443
Reinsurance | Marine and aviation | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	80,976	79,146	81,480	69,056
Total of incurred-but-not-reported liabilities plus expected development on reported claims	5,760
Reinsurance | Marine and aviation | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	38,273	42,071	40,548
Total of incurred-but-not-reported liabilities plus expected development on reported claims	4,380
Reinsurance | Marine and aviation | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	40,968	43,886
Total of incurred-but-not-reported liabilities plus expected development on reported claims	15,886
Reinsurance | Marine and aviation | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	68,898
Total of incurred-but-not-reported liabilities plus expected development on reported claims	54,268
Reinsurance | Professional lines
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	1,876,315
Reinsurance | Professional lines | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	168,014	164,383	168,466	180,269	204,246	212,039	212,750	214,632	213,826	208,838
Total of incurred-but-not-reported liabilities plus expected development on reported claims	5,422
Reinsurance | Professional lines | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	233,317	225,276	227,327	228,865	232,493	218,251	218,600	218,664	218,770
Total of incurred-but-not-reported liabilities plus expected development on reported claims	5,973
Reinsurance | Professional lines | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	240,255	234,298	227,545	230,650	224,028	213,463	211,312	211,463
Total of incurred-but-not-reported liabilities plus expected development on reported claims	12,860
Reinsurance | Professional lines | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	266,249	254,339	254,459	226,932	199,369	195,775	194,725
Total of incurred-but-not-reported liabilities plus expected development on reported claims	28,900
Reinsurance | Professional lines | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	209,111	186,713	176,930	161,029	154,910	154,457
Total of incurred-but-not-reported liabilities plus expected development on reported claims	31,256
Reinsurance | Professional lines | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	172,749	164,966	154,366	147,533	145,212
Total of incurred-but-not-reported liabilities plus expected development on reported claims	37,223
Reinsurance | Professional lines | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	144,336	140,144	136,277	136,846
Total of incurred-but-not-reported liabilities plus expected development on reported claims	48,864
Reinsurance | Professional lines | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	134,318	140,003	139,748
Total of incurred-but-not-reported liabilities plus expected development on reported claims	82,908
Reinsurance | Professional lines | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	139,493	147,961
Total of incurred-but-not-reported liabilities plus expected development on reported claims	112,421
Reinsurance | Professional lines | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	168,473
Total of incurred-but-not-reported liabilities plus expected development on reported claims	154,252
Reinsurance | Liability
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	2,641,014
Reinsurance | Liability | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	157,106	154,142	155,720	156,816	176,171	182,782	183,051	181,007	175,116	171,362
Total of incurred-but-not-reported liabilities plus expected development on reported claims	9,769
Reinsurance | Liability | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	188,328	182,375	186,489	195,959	198,098	199,379	203,470	201,764	198,852
Total of incurred-but-not-reported liabilities plus expected development on reported claims	16,201
Reinsurance | Liability | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	205,594	202,698	212,908	212,574	214,736	214,899	213,954	213,612
Total of incurred-but-not-reported liabilities plus expected development on reported claims	19,016
Reinsurance | Liability | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	273,312	265,953	262,011	252,359	249,096	244,275	239,071
Total of incurred-but-not-reported liabilities plus expected development on reported claims	33,727
Reinsurance | Liability | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	305,418	296,174	286,761	278,111	268,712	273,964
Total of incurred-but-not-reported liabilities plus expected development on reported claims	46,899
Reinsurance | Liability | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	305,168	285,643	272,753	267,501	262,831
Total of incurred-but-not-reported liabilities plus expected development on reported claims	61,173
Reinsurance | Liability | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	271,247	273,061	271,050	262,191
Total of incurred-but-not-reported liabilities plus expected development on reported claims	88,379
Reinsurance | Liability | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	277,697	283,457	282,871
Total of incurred-but-not-reported liabilities plus expected development on reported claims	146,037
Reinsurance | Liability | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	310,759	303,482
Total of incurred-but-not-reported liabilities plus expected development on reported claims	196,806
Reinsurance | Liability | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	346,385
Total of incurred-but-not-reported liabilities plus expected development on reported claims	298,804
Reinsurance | Credit and surety
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	938,595
Reinsurance | Credit and surety | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	124,760	123,641	124,850	122,035	121,824	132,814	136,726	140,520	149,561	162,254
Total of incurred-but-not-reported liabilities plus expected development on reported claims	1,647
Reinsurance | Credit and surety | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	119,216	118,853	120,171	123,854	125,086	136,104	139,686	132,589	132,954
Total of incurred-but-not-reported liabilities plus expected development on reported claims	133
Reinsurance | Credit and surety | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	131,093	136,667	135,496	134,568	152,946	156,701	161,881	157,589
Total of incurred-but-not-reported liabilities plus expected development on reported claims	1,530
Reinsurance | Credit and surety | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	108,856	111,192	113,526	120,945	146,132	138,424	139,437
Total of incurred-but-not-reported liabilities plus expected development on reported claims	1,206
Reinsurance | Credit and surety | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	112,383	112,679	115,202	123,877	129,727	136,280
Total of incurred-but-not-reported liabilities plus expected development on reported claims	2,461
Reinsurance | Credit and surety | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	103,324	108,388	111,340	117,215	109,771
Total of incurred-but-not-reported liabilities plus expected development on reported claims	9,933
Reinsurance | Credit and surety | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	63,943	66,175	66,316	73,090
Total of incurred-but-not-reported liabilities plus expected development on reported claims	9,256
Reinsurance | Credit and surety | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	68,410	83,053	76,516
Total of incurred-but-not-reported liabilities plus expected development on reported claims	16,290
Reinsurance | Credit and surety | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	43,485	51,721
Total of incurred-but-not-reported liabilities plus expected development on reported claims	21,500
Reinsurance | Credit and surety | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	63,125
Total of incurred-but-not-reported liabilities plus expected development on reported claims	50,105
Reinsurance | Motor
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	2,207,122
Reinsurance | Motor | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	107,772	107,275	111,011	113,999	122,196	125,052	128,421	137,357	148,570	154,629
Total of incurred-but-not-reported liabilities plus expected development on reported claims	5,350
Reinsurance | Motor | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	152,730	152,080	152,566	155,735	159,020	163,297	166,277	171,207	174,534
Total of incurred-but-not-reported liabilities plus expected development on reported claims	2,906
Reinsurance | Motor | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	196,266	196,003	198,653	199,861	210,117	208,365	204,962	214,064
Total of incurred-but-not-reported liabilities plus expected development on reported claims	6,881
Reinsurance | Motor | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	231,759	228,144	230,691	238,949	248,315	246,951	236,330
Total of incurred-but-not-reported liabilities plus expected development on reported claims	3,531
Reinsurance | Motor | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	337,372	342,097	341,108	340,571	350,773	347,985
Total of incurred-but-not-reported liabilities plus expected development on reported claims	12,195
Reinsurance | Motor | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	330,259	342,114	345,746	335,555	343,073
Total of incurred-but-not-reported liabilities plus expected development on reported claims	12,092
Reinsurance | Motor | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	317,512	325,792	325,918	328,062
Total of incurred-but-not-reported liabilities plus expected development on reported claims	23,908
Reinsurance | Motor | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	205,512	207,767	205,885
Total of incurred-but-not-reported liabilities plus expected development on reported claims	38,657
Reinsurance | Motor | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	173,409	173,077
Total of incurred-but-not-reported liabilities plus expected development on reported claims	36,756
Reinsurance | Motor | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	154,531
Total of incurred-but-not-reported liabilities plus expected development on reported claims	69,678
Reinsurance | Agriculture
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	1,175,230
Reinsurance | Agriculture | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	121,752	120,853	121,805	120,919	120,799	120,807	120,795	121,107	117,467	107,068
Total of incurred-but-not-reported liabilities plus expected development on reported claims	(330)
Reinsurance | Agriculture | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	162,756	162,061	162,239	162,321	162,308	162,382	162,814	164,334	183,242
Total of incurred-but-not-reported liabilities plus expected development on reported claims	437
Reinsurance | Agriculture | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	95,621	95,490	95,504	95,326	95,320	95,334	95,592	103,172
Total of incurred-but-not-reported liabilities plus expected development on reported claims	(33)
Reinsurance | Agriculture | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	108,599	108,647	109,457	109,218	110,630	117,507	123,798
Total of incurred-but-not-reported liabilities plus expected development on reported claims	(227)
Reinsurance | Agriculture | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	137,431	138,898	139,427	138,357	144,281	151,649
Total of incurred-but-not-reported liabilities plus expected development on reported claims	(238)
Reinsurance | Agriculture | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	139,907	140,538	140,806	147,271	140,936
Total of incurred-but-not-reported liabilities plus expected development on reported claims	1,412
Reinsurance | Agriculture | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	183,289	187,685	185,218	184,177
Total of incurred-but-not-reported liabilities plus expected development on reported claims	1,679
Reinsurance | Agriculture | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	63,778	62,738	62,593
Total of incurred-but-not-reported liabilities plus expected development on reported claims	3,775
Reinsurance | Agriculture | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	61,225	69,759
Total of incurred-but-not-reported liabilities plus expected development on reported claims	9,475
Reinsurance | Agriculture | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	100,872
Total of incurred-but-not-reported liabilities plus expected development on reported claims	77,550
Reinsurance | Run Off Lines
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	3,972,281
Reinsurance | Run Off Lines | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	251,472	252,736	254,589	256,433	259,488	260,012	265,575	282,546	308,714	$ 339,293
Total of incurred-but-not-reported liabilities plus expected development on reported claims	927
Reinsurance | Run Off Lines | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	217,746	218,620	218,807	222,835	223,003	226,620	235,489	245,246	$ 241,052
Total of incurred-but-not-reported liabilities plus expected development on reported claims	1,354
Reinsurance | Run Off Lines | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	244,839	246,716	248,890	243,963	245,175	254,344	254,255	$ 265,915
Total of incurred-but-not-reported liabilities plus expected development on reported claims	4,350
Reinsurance | Run Off Lines | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	279,384	279,338	278,910	275,463	280,767	284,044	$ 284,047
Total of incurred-but-not-reported liabilities plus expected development on reported claims	5,861
Reinsurance | Run Off Lines | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	732,026	741,329	743,340	742,280	703,287	$ 703,634
Total of incurred-but-not-reported liabilities plus expected development on reported claims	22,110
Reinsurance | Run Off Lines | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	604,626	618,695	632,623	617,378	$ 523,856
Total of incurred-but-not-reported liabilities plus expected development on reported claims	14,356
Reinsurance | Run Off Lines | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	401,170	419,002	439,421	$ 454,804
Total of incurred-but-not-reported liabilities plus expected development on reported claims	30,117
Reinsurance | Run Off Lines | Accident Year 2020
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	542,837	548,722	$ 517,487
Total of incurred-but-not-reported liabilities plus expected development on reported claims	60,793
Reinsurance | Run Off Lines | Accident Year 2021
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	434,809	$ 425,525
Total of incurred-but-not-reported liabilities plus expected development on reported claims	54,826
Reinsurance | Run Off Lines | Accident Year 2022
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses	263,372
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 139,192

RESERVE FOR LOSSES AND LOSS _10

RESERVE FOR LOSSES AND LOSS EXPENSES - Summary of Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance (Details) - USD ($) $ in Thousands	Dec. 31, 2022	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
Claims Development [Line Items]
Liabilities for claims and claim adjustment expenses, net of reinsurance	$ 9,722,280
Insurance
Claims Development [Line Items]
Liabilities for claims and claim adjustment expenses, net of reinsurance	4,503,262
Insurance | Property
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	3,327,754
All outstanding liabilities before 2013, net of reinsurance	12,328
Liabilities for claims and claim adjustment expenses, net of reinsurance	624,924
Insurance | Property | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	236,997	$ 236,432	$ 233,526	$ 229,834	$ 228,191	$ 225,390	$ 214,480	$ 204,735	$ 167,580	$ 58,733
Insurance | Property | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	252,430	252,414	251,427	254,575	253,810	249,980	244,033	201,651	100,650
Insurance | Property | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	181,344	176,515	185,314	178,913	179,204	165,616	144,649	67,511
Insurance | Property | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	252,620	255,203	250,150	249,831	242,194	206,273	82,211
Insurance | Property | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	630,476	640,919	645,828	617,753	509,810	190,341
Insurance | Property | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	584,059	566,699	556,715	463,312	218,618
Insurance | Property | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	334,179	297,493	251,353	145,706
Insurance | Property | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	473,647	419,718	181,569
Insurance | Property | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	284,795	133,811
Insurance | Property | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	97,207
Insurance | Accident and health
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	700,459
All outstanding liabilities before 2013, net of reinsurance	50
Liabilities for claims and claim adjustment expenses, net of reinsurance	76,862
Insurance | Accident and health | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	34,385	34,324	32,902	32,744	32,675	32,455	32,330	31,088	29,732	16,332
Insurance | Accident and health | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	60,773	60,364	61,428	61,556	61,226	60,571	59,416	55,506	31,094
Insurance | Accident and health | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	61,208	61,116	60,461	60,585	59,574	58,702	55,604	30,760
Insurance | Accident and health | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	83,896	83,188	82,791	81,731	80,888	77,102	40,548
Insurance | Accident and health | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	113,874	114,694	113,583	112,172	106,988	62,112
Insurance | Accident and health | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	111,146	110,259	106,590	104,196	60,816
Insurance | Accident and health | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	67,232	62,277	60,783	44,546
Insurance | Accident and health | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	60,375	51,948	36,155
Insurance | Accident and health | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	61,291	39,096
Insurance | Accident and health | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	46,279
Insurance | Marine and aviation
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	1,127,291
All outstanding liabilities before 2013, net of reinsurance	15,112
Liabilities for claims and claim adjustment expenses, net of reinsurance	605,168
Insurance | Marine and aviation | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	93,057	93,247	92,036	89,309	88,864	77,260	72,520	62,893	50,207	22,659
Insurance | Marine and aviation | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	50,668	48,832	54,548	53,363	48,895	39,607	37,098	22,841	10,323
Insurance | Marine and aviation | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	143,363	143,207	136,606	133,809	131,005	126,054	69,837	29,478
Insurance | Marine and aviation | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	97,216	94,129	92,182	90,225	82,993	50,925	22,870
Insurance | Marine and aviation | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	183,484	179,649	170,989	139,027	105,590	35,017
Insurance | Marine and aviation | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	184,154	172,496	158,852	122,623	47,056
Insurance | Marine and aviation | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	170,142	144,781	102,330	53,681
Insurance | Marine and aviation | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	105,653	83,842	44,436
Insurance | Marine and aviation | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	69,711	26,908
Insurance | Marine and aviation | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	29,843
Insurance | Cyber
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	388,336
All outstanding liabilities before 2013, net of reinsurance	9,363
Liabilities for claims and claim adjustment expenses, net of reinsurance	296,401
Insurance | Cyber | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	29,117	28,745	28,626	28,104	25,564	24,114	21,149	18,990	10,833	2,179
Insurance | Cyber | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	36,070	35,440	33,732	33,819	31,260	29,962	23,330	12,162	3,136
Insurance | Cyber | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	43,635	42,515	39,470	30,865	28,501	25,544	15,333	5,572
Insurance | Cyber | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	23,207	23,136	21,333	18,502	14,141	4,637	1,348
Insurance | Cyber | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	40,553	38,029	35,897	28,331	19,165	9,354
Insurance | Cyber | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	19,193	14,786	9,874	7,327	2,171
Insurance | Cyber | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	60,129	32,193	20,810	2,775
Insurance | Cyber | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	63,216	50,038	17,712
Insurance | Cyber | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	65,391	24,082
Insurance | Cyber | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	7,825
Insurance | Professional lines
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	1,875,024
All outstanding liabilities before 2013, net of reinsurance	93,016
Liabilities for claims and claim adjustment expenses, net of reinsurance	1,793,131
Insurance | Professional lines | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	257,104	255,952	241,651	229,734	212,579	185,538	151,750	108,641	61,522	15,377
Insurance | Professional lines | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	242,244	236,458	214,481	204,705	188,401	158,890	103,662	56,706	20,125
Insurance | Professional lines | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	222,361	211,058	198,709	169,213	138,047	110,009	51,053	14,049
Insurance | Professional lines | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	273,693	232,648	208,400	170,747	130,415	65,614	14,319
Insurance | Professional lines | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	266,468	196,308	165,575	107,837	51,064	11,370
Insurance | Professional lines | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	262,939	202,837	141,868	74,216	18,191
Insurance | Professional lines | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	203,957	131,776	75,955	24,826
Insurance | Professional lines | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	97,171	43,796	8,631
Insurance | Professional lines | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	38,372	9,697
Insurance | Professional lines | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	10,715
Insurance | Credit and political risk
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	275,639
All outstanding liabilities before 2013, net of reinsurance	607
Liabilities for claims and claim adjustment expenses, net of reinsurance	102,547
Insurance | Credit and political risk | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	12,151	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	69,677	70,223	70,223	64,050	57,857	57,857	61,108	39,951	1,924
Insurance | Credit and political risk | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	23,309	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	25,291	25,291	25,291	25,291	25,291	25,291	0
Insurance | Credit and political risk | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	10,100	10,640	11,427	9,008	3,916	388
Insurance | Credit and political risk | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	19,396	11,314	15,117	13,128	5,215
Insurance | Credit and political risk | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	56,531	53,331	46,055	15,684
Insurance | Credit and political risk | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	56,769	89,146	9,618
Insurance | Credit and political risk | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	(382)	2,769
Insurance | Credit and political risk | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	2,797
Insurance | Liability
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	1,056,273
All outstanding liabilities before 2013, net of reinsurance	50,544
Liabilities for claims and claim adjustment expenses, net of reinsurance	1,004,229
Insurance | Liability | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	82,483	78,018	73,309	71,978	66,959	60,000	42,046	33,315	23,276	2,356
Insurance | Liability | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	113,142	106,197	103,033	93,562	84,362	71,582	49,818	18,623	1,409
Insurance | Liability | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	158,924	150,562	140,732	120,061	92,535	39,522	22,303	5,437
Insurance | Liability | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	95,688	79,464	66,237	56,367	36,336	23,237	6,308
Insurance | Liability | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	168,012	142,927	115,213	58,801	29,335	5,395
Insurance | Liability | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	158,358	118,945	72,091	34,803	9,321
Insurance | Liability | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	138,832	83,533	39,746	7,791
Insurance | Liability | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	75,820	25,129	8,138
Insurance | Liability | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	51,815	13,388
Insurance | Liability | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	13,199
Reinsurance
Claims Development [Line Items]
Liabilities for claims and claim adjustment expenses, net of reinsurance	5,219,018
Reinsurance | Accident and health
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	1,541,288
All outstanding liabilities before 2013, net of reinsurance	47
Liabilities for claims and claim adjustment expenses, net of reinsurance	236,094
Reinsurance | Accident and health | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	110,537	110,328	111,090	111,018	111,018	111,011	110,927	108,306	103,977	52,853
Reinsurance | Accident and health | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	86,702	86,319	87,239	86,553	86,466	86,266	85,870	79,933	36,558
Reinsurance | Accident and health | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	93,677	93,864	92,441	91,981	91,872	88,667	77,264	23,404
Reinsurance | Accident and health | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	189,679	188,726	189,128	187,142	180,978	149,883	50,036
Reinsurance | Accident and health | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	179,772	179,117	178,605	171,864	157,032	79,209
Reinsurance | Accident and health | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	194,276	191,161	191,605	165,053	72,863
Reinsurance | Accident and health | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	196,306	195,575	169,257	67,728
Reinsurance | Accident and health | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	210,006	171,632	81,657
Reinsurance | Accident and health | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	179,025	68,381
Reinsurance | Accident and health | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	101,308
Reinsurance | Marine and aviation
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	227,837
All outstanding liabilities before 2013, net of reinsurance	2,076
Liabilities for claims and claim adjustment expenses, net of reinsurance	156,073
Reinsurance | Marine and aviation | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	6,698	6,593	6,574	6,029	5,845	5,416	4,180	3,685	2,502	465
Reinsurance | Marine and aviation | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	7,549	7,357	6,990	6,486	6,308	5,244	4,377	2,301	1,117
Reinsurance | Marine and aviation | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	10,902	10,820	10,994	10,198	8,641	6,430	2,655	416
Reinsurance | Marine and aviation | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	34,519	33,927	32,878	30,133	26,202	19,119	2,695
Reinsurance | Marine and aviation | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	36,920	36,809	33,764	28,826	23,508	2,746
Reinsurance | Marine and aviation | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	34,293	30,685	24,246	10,831	1,779
Reinsurance | Marine and aviation | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	52,688	34,278	27,093	10,715
Reinsurance | Marine and aviation | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	24,112	16,729	4,017
Reinsurance | Marine and aviation | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	12,381	5,491
Reinsurance | Marine and aviation | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	7,775
Reinsurance | Professional lines
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	969,837
All outstanding liabilities before 2013, net of reinsurance	92,109
Liabilities for claims and claim adjustment expenses, net of reinsurance	998,587
Reinsurance | Professional lines | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	138,470	132,401	128,090	122,775	104,549	81,423	64,795	30,381	12,023	1,059
Reinsurance | Professional lines | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	189,224	177,465	157,828	146,520	108,767	74,330	48,700	13,047	2,019
Reinsurance | Professional lines | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	169,963	151,873	131,056	111,527	79,172	41,493	13,502	3,134
Reinsurance | Professional lines | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	180,770	153,251	124,553	94,853	52,455	20,414	1,758
Reinsurance | Professional lines | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	115,904	88,494	62,498	39,764	14,785	2,812
Reinsurance | Professional lines | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	81,417	56,685	31,091	2,539	272
Reinsurance | Professional lines | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	52,849	33,395	13,549	365
Reinsurance | Professional lines | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	26,664	13,845	3,822
Reinsurance | Professional lines | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	11,343	4,337
Reinsurance | Professional lines | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	3,233
Reinsurance | Liability
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	1,259,615
All outstanding liabilities before 2013, net of reinsurance	123,029
Liabilities for claims and claim adjustment expenses, net of reinsurance	1,504,428
Reinsurance | Liability | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	133,020	127,966	123,563	113,053	102,527	88,217	69,024	52,304	22,218	5,966
Reinsurance | Liability | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	147,798	136,624	129,370	109,681	89,217	69,985	48,362	28,641	7,072
Reinsurance | Liability | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	151,688	141,300	130,587	108,707	80,784	54,466	27,442	7,268
Reinsurance | Liability | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	188,883	166,054	142,420	111,403	69,254	37,601	11,858
Reinsurance | Liability | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	192,889	158,338	120,553	78,435	42,092	12,432
Reinsurance | Liability | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	166,117	127,737	85,126	49,875	19,354
Reinsurance | Liability | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	120,278	79,739	45,266	19,305
Reinsurance | Liability | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	82,357	49,073	16,939
Reinsurance | Liability | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	58,524	10,942
Reinsurance | Liability | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	18,061
Reinsurance | Credit and surety
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	721,279
All outstanding liabilities before 2013, net of reinsurance	14,199
Liabilities for claims and claim adjustment expenses, net of reinsurance	231,515
Reinsurance | Credit and surety | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	111,765	110,508	112,241	110,064	105,102	103,368	95,770	89,348	75,085	32,161
Reinsurance | Credit and surety | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	106,252	105,054	105,238	104,858	100,457	92,889	83,972	59,703	35,281
Reinsurance | Credit and surety | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	118,811	120,060	119,204	115,605	113,683	97,094	79,855	32,782
Reinsurance | Credit and surety | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	99,003	99,276	100,768	99,722	90,226	71,774	41,790
Reinsurance | Credit and surety | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	100,868	97,952	99,844	88,330	72,267	37,115
Reinsurance | Credit and surety | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	83,907	82,182	70,623	66,694	38,682
Reinsurance | Credit and surety | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	45,510	43,443	30,187	19,224
Reinsurance | Credit and surety | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	39,253	33,823	25,293
Reinsurance | Credit and surety | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	9,045	4,466
Reinsurance | Credit and surety | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	6,865
Reinsurance | Motor
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	1,457,313
All outstanding liabilities before 2013, net of reinsurance	252,523
Liabilities for claims and claim adjustment expenses, net of reinsurance	1,002,332
Reinsurance | Motor | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	88,695	87,158	74,002	83,161	80,462	75,368	70,288	61,273	49,088	32,749
Reinsurance | Motor | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	129,313	126,822	106,510	111,744	103,115	93,883	86,680	68,998	41,942
Reinsurance | Motor | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	164,738	159,792	137,597	137,554	122,679	106,450	88,152	56,617
Reinsurance | Motor | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	179,208	172,139	149,042	137,362	120,556	98,649	59,225
Reinsurance | Motor | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	231,594	209,638	188,658	155,191	126,902	70,213
Reinsurance | Motor | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	227,538	204,301	196,187	134,503	82,020
Reinsurance | Motor | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	216,677	195,770	180,671	89,709
Reinsurance | Motor | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	110,939	92,231	43,190
Reinsurance | Motor | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	73,915	41,457
Reinsurance | Motor | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	34,696
Reinsurance | Agriculture
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	1,044,595
All outstanding liabilities before 2013, net of reinsurance	734
Liabilities for claims and claim adjustment expenses, net of reinsurance	131,369
Reinsurance | Agriculture | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	121,997	120,258	119,990	120,204	120,138	120,144	119,549	118,317	78,089	3,609
Reinsurance | Agriculture | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	162,061	161,161	160,509	162,005	161,492	161,569	162,343	133,132	15,615
Reinsurance | Agriculture | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	95,599	95,444	95,455	94,860	94,523	92,967	65,858	1,716
Reinsurance | Agriculture | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	108,792	108,752	108,991	109,511	107,972	62,155	9,489
Reinsurance | Agriculture | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	137,343	137,396	138,555	137,421	124,479	7,444
Reinsurance | Agriculture | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	138,316	141,688	135,594	127,514	5,115
Reinsurance | Agriculture | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	178,181	174,173	154,480	28,854
Reinsurance | Agriculture | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	54,180	47,316	17,454
Reinsurance | Agriculture | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	32,781	2,953
Reinsurance | Agriculture | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	15,345
Reinsurance | Run Off Lines
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	3,051,878
All outstanding liabilities before 2013, net of reinsurance	38,217
Liabilities for claims and claim adjustment expenses, net of reinsurance	958,620
Reinsurance | Run Off Lines | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	245,659	244,594	240,341	241,051	240,785	239,868	232,338	207,125	137,729	$ 50,430
Reinsurance | Run Off Lines | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	210,684	209,411	202,701	205,235	201,136	196,310	179,797	135,883	$ 49,123
Reinsurance | Run Off Lines | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	232,113	230,483	216,642	212,210	201,981	177,080	118,635	$ 46,120
Reinsurance | Run Off Lines | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	257,213	251,866	245,034	230,829	199,912	141,113	$ 64,831
Reinsurance | Run Off Lines | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	649,936	614,420	590,316	532,087	419,474	$ 163,361
Reinsurance | Run Off Lines | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	530,773	483,699	430,939	335,059	$ 116,922
Reinsurance | Run Off Lines | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	318,273	281,860	220,795	$ 54,866
Reinsurance | Run Off Lines | Accident Year 2020
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	323,592	240,691	$ 105,210
Reinsurance | Run Off Lines | Accident Year 2021
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	233,487	$ 87,885
Reinsurance | Run Off Lines | Accident Year 2022
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses	$ 50,148

RESERVE FOR LOSSES AND LOSS _11

RESERVE FOR LOSSES AND LOSS EXPENSES - Summary of Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Details)	Dec. 31, 2022
Insurance | Property
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	32.90%
Year 2	41.60%
Year 3	13.90%
Year 4	4.70%
Year 5	1.40%
Year 6	1.10%
Year 7	(1.60%)
Year 8	1.50%
Year 9	0.60%
Year 10	0.20%
Insurance | Accident and health
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	52.20%
Year 2	35.10%
Year 3	5.10%
Year 4	2.80%
Year 5	1%
Year 6	0.10%
Year 7	0.50%
Year 8	(0.40%)
Year 9	2.40%
Year 10	0.20%
Insurance | Marine and aviation
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	19.80%
Year 2	26.50%
Year 3	21.80%
Year 4	8.20%
Year 5	5.90%
Year 6	5.30%
Year 7	2.60%
Year 8	(2.60%)
Year 9	2.40%
Year 10	(0.20%)
Insurance | Cyber
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	10.20%
Year 2	22.40%
Year 3	20%
Year 4	16%
Year 5	7.80%
Year 6	7.90%
Year 7	3.30%
Year 8	2.70%
Year 9	1%
Year 10	1%
Insurance | Professional lines
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	4.20%
Year 2	12.40%
Year 3	16.70%
Year 4	14.50%
Year 5	10.90%
Year 6	10.10%
Year 7	6.40%
Year 8	5.10%
Year 9	3.40%
Year 10	0.40%
Insurance | Credit and political risk
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	8.70%
Year 2	55.50%
Year 3	6.20%
Year 4	2.20%
Year 5	13.90%
Year 6	4.30%
Year 7	2.20%
Year 8	0%
Year 9	(7.30%)
Year 10	0%
Insurance | Liability
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	3.50%
Year 2	12.90%
Year 3	15.60%
Year 4	20.10%
Year 5	13.60%
Year 6	9.50%
Year 7	7.60%
Year 8	2.70%
Year 9	5.10%
Year 10	4.60%
Reinsurance | Accident and health
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	36%
Year 2	48.30%
Year 3	11.50%
Year 4	1.90%
Year 5	0.60%
Year 6	0.20%
Year 7	0.70%
Year 8	(0.40%)
Year 9	(0.20%)
Year 10	0.20%
Reinsurance | Marine and aviation
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	8.90%
Year 2	27.50%
Year 3	20%
Year 4	13.50%
Year 5	10.90%
Year 6	3.70%
Year 7	2.10%
Year 8	4.30%
Year 9	1.20%
Year 10	1.60%
Reinsurance | Professional lines
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	1.30%
Year 2	5.70%
Year 3	12.70%
Year 4	14.60%
Year 5	12.70%
Year 6	12.40%
Year 7	8.70%
Year 8	6.40%
Year 9	3.80%
Year 10	3.60%
Reinsurance | Liability
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	4.80%
Year 2	10.80%
Year 3	12.80%
Year 4	13.30%
Year 5	12.10%
Year 6	10.10%
Year 7	7.70%
Year 8	5.20%
Year 9	4.40%
Year 10	3.20%
Reinsurance | Credit and surety
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	27.80%
Year 2	24.10%
Year 3	13.60%
Year 4	8.40%
Year 5	2.50%
Year 6	1.80%
Year 7	1.20%
Year 8	0.20%
Year 9	(0.20%)
Year 10	1%
Reinsurance | Motor
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	25.40%
Year 2	18.90%
Year 3	10.30%
Year 4	6.80%
Year 5	6.10%
Year 6	5.40%
Year 7	3.40%
Year 8	2.40%
Year 9	6.90%
Year 10	1.40%
Reinsurance | Agriculture
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	9.50%
Year 2	65.10%
Year 3	19.80%
Year 4	1.60%
Year 5	(0.50%)
Year 6	0.10%
Year 7	(0.20%)
Year 8	0.10%
Year 9	0.40%
Year 10	1.40%
Reinsurance | Run Off Lines
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	19.90%
Year 2	33.60%
Year 3	19.30%
Year 4	9.20%
Year 5	4.30%
Year 6	2.30%
Year 7	1.60%
Year 8	1.20%
Year 9	1.20%
Year 10	0.40%

RESERVE FOR LOSSES AND LOSS _12

RESERVE FOR LOSSES AND LOSS EXPENSES - Summary of Reconciliation of Development Tables to Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Claims Development [Line Items]
Net outstanding liabilities	$ 9,722,280
Reinsurance recoverable on unpaid claims	5,831,172	$ 5,017,611	$ 4,496,641	$ 3,877,756
Gross outstanding liabilities	15,553,452
Unallocated claims adjustment expenses	168,308
Foreign exchange and other	21,972
Ceded reserves related to retroactive transactions	(574,869)
Reserve for losses and loss expenses	15,168,863	$ 14,653,094	$ 13,926,766	$ 12,752,081
Insurance
Claims Development [Line Items]
Net outstanding liabilities	4,503,262
Reinsurance recoverable on unpaid claims	4,133,206
Gross outstanding liabilities	8,636,468
Insurance | Property
Claims Development [Line Items]
Net outstanding liabilities	624,924
Reinsurance recoverable on unpaid claims	398,826
Gross outstanding liabilities	1,023,750
Insurance | Accident and health
Claims Development [Line Items]
Net outstanding liabilities	76,862
Reinsurance recoverable on unpaid claims	6,518
Gross outstanding liabilities	83,380
Insurance | Marine and aviation
Claims Development [Line Items]
Net outstanding liabilities	605,168
Reinsurance recoverable on unpaid claims	278,976
Gross outstanding liabilities	884,144
Insurance | Cyber
Claims Development [Line Items]
Net outstanding liabilities	296,401
Reinsurance recoverable on unpaid claims	393,436
Gross outstanding liabilities	689,837
Insurance | Professional lines
Claims Development [Line Items]
Net outstanding liabilities	1,793,131
Reinsurance recoverable on unpaid claims	1,474,539
Gross outstanding liabilities	3,267,670
Insurance | Credit and political risk
Claims Development [Line Items]
Net outstanding liabilities	102,547
Reinsurance recoverable on unpaid claims	34,391
Gross outstanding liabilities	136,938
Insurance | Liability
Claims Development [Line Items]
Net outstanding liabilities	1,004,229
Reinsurance recoverable on unpaid claims	1,546,520
Gross outstanding liabilities	2,550,749
Reinsurance
Claims Development [Line Items]
Net outstanding liabilities	5,219,018
Reinsurance recoverable on unpaid claims	1,697,966
Gross outstanding liabilities	6,916,984
Reinsurance | Accident and health
Claims Development [Line Items]
Net outstanding liabilities	236,094
Reinsurance recoverable on unpaid claims	38,647
Gross outstanding liabilities	274,741
Reinsurance | Marine and aviation
Claims Development [Line Items]
Net outstanding liabilities	156,073
Reinsurance recoverable on unpaid claims	57,692
Gross outstanding liabilities	213,765
Reinsurance | Professional lines
Claims Development [Line Items]
Net outstanding liabilities	998,587
Reinsurance recoverable on unpaid claims	303,849
Gross outstanding liabilities	1,302,436
Reinsurance | Liability
Claims Development [Line Items]
Net outstanding liabilities	1,504,428
Reinsurance recoverable on unpaid claims	527,513
Gross outstanding liabilities	2,031,941
Reinsurance | Agriculture
Claims Development [Line Items]
Net outstanding liabilities	131,369
Reinsurance recoverable on unpaid claims	10,018
Gross outstanding liabilities	141,387
Reinsurance | Credit and surety
Claims Development [Line Items]
Net outstanding liabilities	231,515
Reinsurance recoverable on unpaid claims	79,309
Gross outstanding liabilities	310,824
Reinsurance | Motor
Claims Development [Line Items]
Net outstanding liabilities	1,002,332
Reinsurance recoverable on unpaid claims	258,483
Gross outstanding liabilities	1,260,815
Reinsurance | Run Off Lines
Claims Development [Line Items]
Net outstanding liabilities	958,620
Reinsurance recoverable on unpaid claims	422,455
Gross outstanding liabilities	$ 1,381,075

REINSURANCE (Details)

REINSURANCE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Premiums written
Gross	$ 8,214,595	$ 7,685,984	$ 6,826,938
Ceded	(2,951,539)	(2,759,360)	(2,490,529)
Net	5,263,056	4,926,624	4,336,409
Premiums earned
Gross	7,936,382	7,281,709	6,768,733
Ceded	(2,776,056)	(2,571,859)	(2,397,424)
Net	5,160,326	4,709,850	4,371,309
Reinsurance receivables:
Ceded losses and loss expenses	1,754,000	1,782,000	1,914,000
Allowance for credit losses on reinsurance recoverable for unpaid losses and loss expenses	$ 30,715	$ 29,554	$ 24,000

DEBT AND FINANCING ARRANGEMEN_3

DEBT AND FINANCING ARRANGEMENTS - Summary of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 10, 2019	Jun. 19, 2019	Dec. 06, 2017	Mar. 13, 2014
Debt Instrument [Line Items]
Debt	$ 1,312,314	$ 1,310,975
Senior Notes | 5.150% Senior Notes
Debt Instrument [Line Items]
Interest rate						5.15%
Debt	246,708	246,632
Senior Notes | 4.000% Senior Notes
Debt Instrument [Line Items]
Interest rate					4%
Debt	348,020	347,665
Senior Notes | 3.900% Senior Notes
Debt Instrument [Line Items]
Interest rate				3.90%
Debt	296,615	296,172
Junior Subordinated Notes
Debt Instrument [Line Items]
Interest rate			4.90%
Debt	$ 420,971	$ 420,506

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%
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
Junior Subordinated Notes
Debt Instrument [Line Items]
Interest rate	4.90%
Aggregate Principal	$ 425,000,000
Issue Price	99%
Net Proceeds	$ 420,750,000
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 (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 10, 2019	Jun. 19, 2019	Dec. 06, 2017	Mar. 13, 2014
Senior Notes
Debt Instrument [Line Items]
Interest expense	$ 40	$ 40	$ 52
Senior Notes | 5.150% Senior Notes
Debt Instrument [Line Items]
Interest rate							5.15%
Senior Notes | 4.000% Senior Notes
Debt Instrument [Line Items]
Interest rate						4%
Senior Notes | 3.900% 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 | 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%				100%
AXIS Specialty Finance PLC | Subsidiary Issuer
Debt Instrument [Line Items]
Percentage ownership in subsidiary	100%					100%	100%

DEBT AND FINANCING ARRANGEMEN_6

DEBT AND FINANCING ARRANGEMENTS - Summary of Debt Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Scheduled debt maturity
2023	$ 0
2024	0
2025	0
2026	0
2027	350,000
After 2027	975,000
Unamortized discount and debt issuance expenses	(12,686)
Total senior notes and notes payable	$ 1,312,314	$ 1,310,975

DEBT AND FINANCING ARRANGEMEN_7

DEBT AND FINANCING ARRANGEMENTS - Credit facilities (Details) - Letter of Credit Facility - USD ($)	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Mar. 30, 2021	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		$ 650,000,000
Citibank
Line of Credit Facility [Line Items]
Maximum capacity								$ 500,000,000	$ 500,000,000	$ 750,000,000	$ 750,000,000
Letters of credit outstanding	$ 362,000,000		$ 356,000,000
$500 Million Secured LOC
Line of Credit Facility [Line Items]
Maximum capacity		500,000,000
$500 Million Secured LOC | Citibank
Line of Credit Facility [Line Items]
Maximum capacity							$ 500,000,000	500,000,000
Line of credit facility, amount subject to administrative changes		500,000,000
$250 Million Secured LOC
Line of Credit Facility [Line Items]
Maximum capacity		150,000,000
$250 Million Secured LOC | Citibank
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
$750 Million Secured LOC | Citibank
Line of Credit Facility [Line Items]
Maximum capacity		750,000,000
Line of credit facility, aggregate utilization capacity		$ 650,000,000		$ 750,000,000

FEDERAL HOME LOAN BANK ADVANC_2

FEDERAL HOME LOAN BANK ADVANCES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Federal Home Loan Bank advances	$ 81,388	$ 0
Federal Home Loan Bank of Chicago
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
FHLB program, admitted assets, actual	3,000,000
FHLB program, maximum borrowing capacity	750,000
Federal Home Loan Bank advances	81,000
Interest expense on FHLB borrowings	1,000
FHLB program, investments pledged as security	$ 91,000
Federal Home Loan Bank of Chicago | Minimum
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
FHLB advances, interest rate (as a percent)	2.30%
Federal Home Loan Bank of Chicago | Maximum
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
FHLB advances, interest rate (as a percent)	4.70%

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Cash and Investments (Details) $ in Billions	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Fixed maturity investment portfolio	$ 12
Fixed maturity investment portfolio percentage	44%
Fixed maturity portfolio - corporate issuer concentration limit above A-	2%
Fixed maturity portfolio - corporate issuer concentration limit below A-	1%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Reinsurance and Premiums (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) broker	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Concentration Risk [Line Items]
Allowance for estimated uncollectible premium balances receivable	$ 9,521	$ 7,567
Premiums receivable, bad debt expense charges	$ 0	$ 0	$ 0
Reinsurance Recoverable On Unpaid And Paid Losses | Reinsurer Concentration | AM Best, A- Rating
Concentration Risk [Line Items]
Concentration risk, percentage of total	81.80%	85.70%
Reinsurance Recoverable On Unpaid And Paid Losses | Reinsurer Concentration | Reinsurer 1
Concentration Risk [Line Items]
Concentration risk, percentage of total	13%	13%
Reinsurance Recoverable On Unpaid And Paid Losses | Reinsurer Concentration | Reinsurer 2
Concentration Risk [Line Items]
Concentration risk, percentage of total	9%	10%
Reinsurance Recoverable On Unpaid And Paid Losses | Reinsurer Concentration | Reinsurer 3
Concentration Risk [Line Items]
Concentration risk, percentage of total	6%	5%
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	43%	45%	47%
Gross Premiums Written | Customer Concentration | Marsh & McLennan Companies Inc.
Concentration Risk [Line Items]
Concentration risk, percentage of total	17%	18%	19%
Gross Premiums Written | Customer Concentration | Aon plc
Concentration Risk [Line Items]
Concentration risk, percentage of total	17%	17%	17%
Gross Premiums Written | Customer Concentration | Arthur J. Gallagher & Co.
Concentration Risk [Line Items]
Concentration risk, percentage of total	9%
Gross Premiums Written | Customer Concentration | Willis Towers Watson PLC
Concentration Risk [Line Items]
Concentration risk, percentage of total		10%	11%

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, 2022	Dec. 31, 2021
Unrecorded Unconditional Purchase Obligation [Line Items]
Purchase commitment	$ 11,000	$ 10,000
Unfunded commitments related to other investments	508,000	649,000
Collateral in Trust for third-party agreements	$ 2,491,317	2,412,882
Axis Corporate Capital UK Limited
Unrecorded Unconditional Purchase Obligation [Line Items]
Capital support, percentage	70%
Axis Corporate Capital UK Limited II
Unrecorded Unconditional Purchase Obligation [Line Items]
Capital support, percentage	30%
Corporate debt
Unrecorded Unconditional Purchase Obligation [Line Items]
Purchase commitment	$ 20,000	19,000
CMBS
Unrecorded Unconditional Purchase Obligation [Line Items]
Purchase commitment	25,000	33,000
Lloyd's
Unrecorded Unconditional Purchase Obligation [Line Items]
Collateral in Trust for third-party agreements	$ 749,000	$ 937,000

LEASES - Summary of Lease Expen

LEASES - Summary of Lease Expense and Related Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lease cost:
Operating lease expense	$ 20,611	$ 21,864	$ 24,726
Short-term lease expense	813	1,127	299
Sublease income	(3,423)	(3,116)	(3,578)
Total lease expense	18,001	19,875	21,447
Other information:
Operating cash outflows from operating leases	22,932	22,726	20,452
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 6,514	$ (1,739)	$ 36,742
Weighted-average remaining lease term - operating leases	9 years 10 months 24 days	10 years	10 years 2 months 12 days
Weighted-average discount rate - operating lease	4.10%	4.10%	4.20%

LEASES - Summary of Maturity an

LEASES - Summary of Maturity and Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Year ended December 31,
Expected cash flows, year one	$ 19,774	$ 23,262
Expected cash flows, year two	13,725	19,725
Expected cash flows, year three	13,148	13,556
Expected cash flows, year four	11,052	12,924
Expected cash flows, year five	9,052	10,770
Later years	58,517	66,705
Discount	(22,690)	(27,430)
Total discounted operating lease liabilities	$ 102,577	$ 119,512

EARNINGS PER COMMON SHARE - Sum

EARNINGS PER COMMON SHARE - Summary of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings (loss) per common share
Net income (loss)	$ 223,083	$ 618,609	$ (120,424)
Less: Preferred share dividends	30,250	30,250	30,250
Net income (loss) available (attributable) to common shareholders	$ 192,833	$ 588,359	$ (150,674)
Weighted average common shares outstanding (in shares)	84,864	84,707	84,262
Earnings (loss) per common share (in dollars per share)	$ 2.27	$ 6.95	$ (1.79)
Earnings (loss) per diluted common share
Net income (loss) available (attributable) to common shareholders	$ 192,833	$ 588,359	$ (150,674)
Weighted average common shares outstanding (in shares)	84,864	84,707	84,262
Share-based compensation plans (in shares)	805	584	0
Weighted average diluted common shares outstanding (in shares)	85,669	85,291	84,262
Earnings (loss) per diluted common share (in dollars per share)	$ 2.25	$ 6.90	$ (1.79)
Weighted average anti-dilutive shares excluded from the dilutive computation (in shares)	324	656	922

SHAREHOLDERS' EQUITY - Summary

SHAREHOLDERS' EQUITY - Summary of Common Shares Issued and Outstanding (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
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)	(91,806,000)
Total treasury shares at end of year (in shares)	(91,912,000)	(91,806,000)
Total shares outstanding (in shares)	84,668,000	84,774,000
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)	(91,806,000)	(92,227,000)	(92,621,000)
Shares repurchased (in shares)	(897,000)	(205,000)	(194,000)
Shares reissued (in shares)	791,000	626,000	588,000
Total treasury shares at end of year (in shares)	(91,912,000)	(91,806,000)	(92,227,000)
Total shares outstanding (in shares)	84,668,000	84,774,000	84,353,000

SHAREHOLDERS' EQUITY - Summar_2

SHAREHOLDERS' EQUITY - Summary of Share Repurchases (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 08, 2022
Treasury Shares [Line Items]
Stock Repurchase Program, Authorized Amount				$ 100,000
Common stocks
Treasury Shares [Line Items]
Total shares (in shares)	897	205	194
Total cost	$ 48,981	$ 10,242	$ 10,382
Average price per share (in usd per share)	$ 54.61	$ 49.93	$ 53.43
Common stocks | In the open market:
Treasury Shares [Line Items]
Total shares (in shares)	634	0	0
Total cost	$ 34,987	$ 0	$ 0
Average price per share (in usd per share)	$ 55.22	$ 0	$ 0
Common stocks | From employees:
Treasury Shares [Line Items]
Total shares (in shares)	263	205	194
Total cost	$ 13,994	$ 10,242	$ 10,382
Average price per share (in usd per share)	$ 53.13	$ 49.93	$ 53.43

SHAREHOLDERS' EQUITY - Preferre

SHAREHOLDERS' EQUITY - Preferred Shares Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 17, 2020	Nov. 07, 2016	May 20, 2013
Series D 5.50% Preferred Shares
Class of Stock [Line Items]
Preferred shares, aggregate liquidation value issued			$ 225
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
Series E 5.50% Preferred Shares
Class of Stock [Line Items]
Preferred shares, aggregate liquidation value issued		$ 550
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 - Summar_3

SHAREHOLDERS' EQUITY - Summary of Dividends Declared and Paid (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Common shares, dividends declared per share (in usd per share)	$ 1.73	$ 1.69	$ 1.65
Common shares, dividends paid per share (in usd per share)	1.29	1.26	1.23
Dividends paid in year following declaration (in usd per share)	0.44	0.43	0.42
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, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Total pension expenses	$ 34	$ 34	$ 29

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative (Details)		12 Months Ended
	May 07, 2021 shares	Dec. 31, 2022 installment trading_day shares	Dec. 31, 2021 trading_day	May 31, 2017 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading days proceeding and performance period | trading_day		10	10
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
Number of installments | installment		4
Performance Based Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Performance Based Restricted Stock and Restricted Stock Units | Performance Restricted Stock Units granted in 2022 and 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Performance Based Restricted Stock and 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 Based Restricted Stock and 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 Based Restricted Stock and Restricted Stock Units | Minimum | Performance Restricted Stock Units granted in 2022 and 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)		0%
Performance Based Restricted Stock and Restricted Stock Units | Minimum | Performance Restricted Stock Units granted in 2020 and 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)		75%
Performance Based Restricted Stock and Restricted Stock Units | Minimum | Performance Restricted Stock Units granted in 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)		0%
Performance Based Restricted Stock and Restricted Stock Units | Maximum | Performance Restricted Stock Units granted in 2022 and 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)		200%
Performance Based Restricted Stock and Restricted Stock Units | Maximum | Performance Restricted Stock Units granted in 2020 and 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)		125%
Performance Based Restricted Stock and Restricted Stock Units | Maximum | Performance Restricted Stock Units granted in 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)		200%
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) | shares				3,400,000
Additional share awards granted under the plan (in shares) | shares	1,600,000
Number of awards available for grant under plan (in shares) | shares		1,908,750
2017 Long Term Equity Compensation Plan | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		2 years

SHARE-BASED COMPENSATION - Summ

SHARE-BASED COMPENSATION - Summary of Significant Inputs Used in the Monte Carlo Simulation Model (Details) - Performance Based Restricted Stock and Restricted Stock Units	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (as a percent)	33.44%	32.99%
Expected term (in years)	3 years	3 years
Risk-free interest rate (as a percent)	1.26%	0.17%

SHARE-BASED COMPENSATION - Su_2

SHARE-BASED COMPENSATION - Summary of Share and Cash Settled Awards (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Performance Based Restricted Stock and Restricted Stock Units | Share Settled
Number of restricted stock units
Nonvested restricted stock - beginning of year (in shares)	311	289
Granted (in shares)	140	122
Vested (in shares)	(100)	(66)
Forfeited (in shares)	(21)	(34)
Nonvested restricted stock - end of year (in shares)	330	311
Weighted average grant date fair value
Nonvested restricted stock units - beginning of year (in usd per share)	$ 54.75	$ 55.92
Granted (in usd per share)	68.63	49.04
Vested (in usd per share)	54.70	48.89
Forfeited (in usd per share)	62.26	55.68
Nonvested restricted stock units - end of year (in usd per share)	$ 60.01	$ 54.75
Restricted Stock Units | Share Settled
Number of restricted stock units
Nonvested restricted stock - beginning of year (in shares)	2,062	1,501
Granted (in shares)	993	1,250
Vested (in shares)	(690)	(561)
Forfeited (in shares)	(248)	(128)
Nonvested restricted stock - end of year (in shares)	2,117	2,062
Weighted average grant date fair value
Nonvested restricted stock units - beginning of year (in usd per share)	$ 51.59	$ 56.50
Granted (in usd per share)	56.09	48.04
Vested (in usd per share)	52.67	56.42
Forfeited (in usd per share)	53.22	53.37
Nonvested restricted stock units - end of year (in usd per share)	$ 53.16	$ 51.59
Restricted Stock Units | Cash Settled
Number of restricted stock units
Nonvested restricted stock - beginning of year (in shares)	215	471
Granted (in shares)	0	0
Vested (in shares)	(145)	(233)
Forfeited (in shares)	(10)	(23)
Nonvested restricted stock - end of year (in shares)	60	215

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional Information Related to Share-based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability for cash-settled restricted stock units	$ 4,792	$ 9,091
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	56,136	49,415	$ 47,789
Tax benefits associated with share-based compensation expense	8,839	7,613	8,061
Fair value of restricted stock units vested	49,792	42,967	50,757
Unrecognized share-based compensation expense	$ 74,601	$ 80,805	$ 74,014
Expected weighted average period associated with the recognition of unrecognized share-based compensation expense	2 years 3 months 18 days	2 years 4 months 24 days	2 years 4 months 24 days
Cash Settled | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability for cash-settled restricted stock units	$ 4,792	$ 9,091	$ 13,273

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands		12 Months Ended
	Jun. 29, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Other investments		$ 996,751	$ 947,982
Ceded premiums		2,951,539	2,759,360	$ 2,490,529
Ceded losses and loss expenses		1,754,000	1,782,000	1,914,000
Insurance and reinsurance balances payable		1,522,764	1,324,620
Stone Point Group
Related Party Transaction [Line Items]
Fees paid to related party		2,000	2,000	3,000
Freedom Consumer Credit Fund, LLC Series B
Related Party Transaction [Line Items]
Fees paid to related party		2,000	3,000	2,000
Other investments		39,000
Stone Point Trident Fund VIII
Related Party Transaction [Line Items]
Fees paid to related party		2,000	4,000	1,000
Other investments		82,000
Stone Point Trident VIII Co-Invest
Related Party Transaction [Line Items]
Other investments		26,000
Trident IX L.P. ("Trident IX")
Related Party Transaction [Line Items]
Fees paid to related party		1,000	0	0
Other investments		9,000
Rialto Real Estate Fund IV-Property
Related Party Transaction [Line Items]
Fees paid to related party		2,000	1,000	0
Other investments		17,000
Stone Point Credit Corporation
Related Party Transaction [Line Items]
Fees paid to related party		300	0	0
Other investments		18,000
Stone Point Credit Corporation Bond
Related Party Transaction [Line Items]
Other investments		17,000
Income earned from related party		600
Sound Point Capital Bond
Related Party Transaction [Line Items]
Other investments		6,000
Gordon Brothers
Related Party Transaction [Line Items]
Other investments		24,000
Chairman
Related Party Transaction [Line Items]
Fees paid to related party				400
Significant influence
Related Party Transaction [Line Items]
Other investments		462,000	555,000
Harrington Re
Related Party Transaction [Line Items]
Ceded premiums		324,000	283,000	256,000
Ceded losses and loss expenses		234,000	188,000	$ 187,000
Reinsurance recoverable on unpaid and paid losses		819,000	717,000
Insurance and reinsurance balances payable		220,000	$ 189,000
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 IV-Property
Related Party Transaction [Line Items]
Other investments		$ 40,000
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, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Reorganization expenses	$ 31,426	$ 0	$ 7,881

INCOME TAXES - Summary of Incom

INCOME TAXES - Summary of Income Tax Expense and Net Tax Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income tax expense [Line Items]
Total income tax expense (benefit)	$ 22,037	$ 62,384	$ (12,321)
Net current tax receivables	46,704	27,883	12,205
Net deferred tax assets (liabilities)	108,220	12,860
Net deferred tax assets (liabilities)			(1,625)
Net tax assets	154,924	40,743	10,580
U.S.
Income tax expense [Line Items]
Current income tax expense (benefit)	11,491	35,229	(1,122)
Deferred income tax expense (benefit)	(8,147)	(3,369)	(3,098)
Europe
Income tax expense [Line Items]
Current income tax expense (benefit)	2,366	(6,082)	365
Deferred income tax expense (benefit)	16,474	36,606	(8,466)
Other
Income tax expense [Line Items]
Current income tax expense (benefit)	$ (147)	$ 0	$ 0

INCOME TAXES - Summary of Defer

INCOME TAXES - Summary of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Discounting of net reserves for losses and loss expenses	$ 52,992	$ 53,415
Unearned premiums	56,146	53,342
Net unrealized investments losses	71,251	0
Operating and capital loss carryforwards	152,896	85,358
Accruals not currently deductible	42,045	38,294
Tax credits	7,619	2,709
Other deferred tax assets	8,590	5,040
Deferred tax assets before valuation allowance	391,539	238,158
Valuation allowance	(60,069)	(16,918)
Deferred tax assets net of valuation allowance	331,470	221,240
Deferred tax liabilities:
Deferred acquisition costs	(35,211)	(34,845)
Net unrealized investments gains	0	(5,732)
Other investment adjustments and impairments	(20,068)	(18,134)
Intangible assets	(51,993)	(52,722)
Equalization reserves	(2,530)	(2,365)
Acquisition adjustments	(72,351)	(79,464)
Lloyd’s deferred year of account results	(34,068)	(5,114)
Other deferred tax liabilities	(7,029)	(10,004)
Deferred tax liabilities	(223,250)	(208,380)
Net deferred tax assets (liabilities)	$ 108,220	$ 12,860

INCOME TAXES - Summary of Opera

INCOME TAXES - Summary of Operating and Capital Loss Carryforwards and Tax Credits (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Singapore
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	$ 73,769	$ 76,287
U.K.
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	415,274	308,491
Tax credits	2,372	2,372
Ireland
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	200,822	11,850
Tax credits	655	338
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	187,057	15,989
Switzerland | Tax Carry Forward Expiry 2028
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	15,989
Switzerland | Tax Credit Carryforward Expiry 2029
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	171,068
U.S.
Operating Loss And Tax Credit Carryforwards [Line Items]
Tax credits	$ 4,592	$ 0

INCOME TAXES - Summary of Valua

INCOME TAXES - Summary of Valuation Allowance Roll Forward (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance - beginning of year	$ 16,918,000
Change in valuation allowance	43,000,000
Valuation allowance - end of year	60,069,000	$ 16,918,000
Net unrealized investments losses	71,251,000	0
Unrecognized tax benefits	0	0
Ireland
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance - end of year	41,000,000
U.S. | U.S. Foreign Tax Credits
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance - end of year	2,000,000
Other Comprehensive Income | Ireland
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance - end of year	19,000,000
Net income (loss) | Ireland
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance - end of year	22,000,000
Income Tax Expense
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance - beginning of year	16,918,000	20,778,000
Valuation allowance - end of year	39,782,000	16,918,000
Operating loss carryforwards
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Change in valuation allowance	21,724,000	(3,422,000)
Foreign tax credit
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Change in valuation allowance	2,401,000	(2,048,000)
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	(1,261,000)	1,610,000
Accumulated Other Comprehensive Income (Loss)
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance - beginning of year	0	0
Valuation allowance - end of year	20,287,000	0
Change in investment - related items
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Change in valuation allowance	$ 20,287,000	$ 0

INCOME TAXES - Summary of Effec

INCOME TAXES - Summary of Effective Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income (loss) before income taxes
Bermuda (domestic)	$ 236,781	$ 431,310	$ (45,951)
Foreign	8,340	249,686	(86,794)
Total income (loss) before income taxes	$ 245,121	$ 680,996	$ (132,745)
Reconciliation of effective tax rate (% of income before income taxes)
Expected tax rate	0%	0%	0%
Valuation allowance	9.50%	(0.50%)	(1.70%)
Other	(0.40%)	1.40%	(2.10%)
Actual tax rate	9%	9.20%	9.30%
U.S.
Reconciliation of effective tax rate (% of income before income taxes)
Foreign taxes at local expected rates	0.20%	4.80%	5.60%
Europe
Reconciliation of effective tax rate (% of income before income taxes)
Foreign taxes at local expected rates	1.90%	2%	9.20%
Change in enacted tax rate	(2.20%)	1.50%	(1.70%)
United Kingdom | Minimum
Reconciliation of effective tax rate (% of income before income taxes)
Change in enacted tax rate		19%
United Kingdom | Maximum
Reconciliation of effective tax rate (% of income before income taxes)
Change in enacted tax rate		25%
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%

OTHER COMPREHENSIVE INCOME (L_3

OTHER COMPREHENSIVE INCOME (LOSS) - Summary of Tax Effects Allocated to Each Component of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Before tax amount
Unrealized gains (losses) arising during the year, net of reclassification adjustment	$ (909,150)	$ (405,378)	$ 269,937
Foreign currency translation adjustment	(10,986)	621	3,571
Total other comprehensive income (loss), net of tax	(920,136)	(404,757)	273,508
Income tax (expense) benefit
Unrealized gains (losses) arising during the year, net of reclassification adjustment	103,300	46,898	(30,823)
Foreign currency translation adjustment	0	0	0
Total other comprehensive income (loss), net of tax	103,300	46,898	(30,823)
Net of tax amount
Unrealized gains (losses) arising during the year, net of reclassification adjustment	(805,850)	(358,480)	239,114
Foreign currency translation adjustment	(10,986)	621	3,571
Total other comprehensive income (loss), net of tax	(816,836)	(357,859)	242,685
Available for sale investments
Before tax amount
Adjustment for reclassification of net realized (gains) losses and impairment losses recognized in net income (loss)	335,294	(94,749)	(90,380)
Income tax (expense) benefit
Adjustment for reclassification of net realized (gains) losses and impairment losses recognized in net income (loss)	(30,369)	7,635	12,368
Net of tax amount
Adjustment for reclassification of net realized (gains) losses and impairment losses recognized in net income (loss)	304,925	(87,114)	(78,012)
Unrealized gains (losses) arising during the year, net of reclassification adjustment	(805,850)	(358,480)	239,114
Available for sale investments | 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 period	(1,171,381)	(310,710)	360,357
Income tax (expense) benefit
Unrealized gains (losses) arising during the period	127,756	39,263	(43,191)
Net of tax amount
Unrealized gains (losses) arising during the period	(1,043,625)	(271,447)	317,166
Available for sale investments | 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 period	(73,063)	81	(40)
Income tax (expense) benefit
Unrealized gains (losses) arising during the period	5,913	0	0
Net of tax amount
Unrealized gains (losses) arising during the period	$ (67,150)	$ 81	$ (40)

OTHER COMPREHENSIVE INCOME (L_4

OTHER COMPREHENSIVE INCOME (LOSS) - Summary of Reclassifications Out of AOCI Into Net Income Available to Common Shareholders (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reclassification out of accumulated comprehensive income into net income available to common shareholders [Line Items]
Impairment losses	$ (12,568)	$ (22)	$ (1,486)
Income (loss) before income taxes and interest in income (loss) of equity method investments	243,125	648,909	(129,133)
Income tax (expense) benefit	(22,037)	(62,384)	12,321
Net income (loss)	223,083	618,609	(120,424)
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)	(322,726)	94,771	91,866
Impairment losses	(12,568)	(22)	(1,486)
Income (loss) before income taxes and interest in income (loss) of equity method investments	(335,294)	94,749	90,380
Income tax (expense) benefit	30,369	(7,635)	(12,368)
Net income (loss)	$ (304,925)	$ 87,114	$ 78,012

STATUTORY FINANCIAL INFORMATI_3

STATUTORY FINANCIAL INFORMATION (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) board_member	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Statutory Financial Information [Line Items]
Statutory net income	$ 134,000,000	$ 569,000,000	$ 85,000,000
Axis Corporate Capital UK Limited
Statutory Financial Information [Line Items]
Capital support, percentage	70%
Axis Corporate Capital UK Limited II
Statutory Financial Information [Line Items]
Capital support, percentage	30%
Axis Corporate Capital UK Limited | Fixed maturities and short-term investments | Asset Pledged as Collateral
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value	$ 530,000,000	658,000,000
Axis Corporate Capital UK Limited | Cash | Asset Pledged as Collateral
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value	13,000,000	19,000,000
Axis Corporate Capital UK II Limited
Statutory Financial Information [Line Items]
Financial instruments, as collateral, released from restriction	85,000,000	60,000,000
Axis Corporate Capital UK II Limited | Fixed maturities and short-term investments | Asset Pledged as Collateral
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value	176,000,000	225,000,000
Axis Corporate Capital UK II Limited | Cash | Asset Pledged as Collateral
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value	6,000,000	6,000,000
Axis Corporate Capital UK II Limited | Equity securities | Asset Pledged as Collateral
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value	23,000,000	28,000,000
Bermuda
Statutory Financial Information [Line Items]
Required statutory capital and surplus	1,261,160,000	1,517,485,000
Available statutory capital and surplus	3,156,955,000	3,067,879,000
Minimum solvency margin amount	$ 100,000,000
Minimum solvency margin percentage of net written premiums	50%
Minimum solvency margin percentage of net reserves	15%
Minimum solvency margin percentage of ECR	25%
Limit - prior year's total statutory capital surplus (Bermuda)	25%
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	$ 709,000,000	782,000,000
Ireland
Statutory Financial Information [Line Items]
Required statutory capital and surplus	699,203,000	755,270,000
Available statutory capital and surplus	1,099,474,000	1,147,194,000
Maximum dividend/distribution payable with regulatory approval	51,000,000	25,000,000
U.S.
Statutory Financial Information [Line Items]
Required statutory capital and surplus	651,460,000	626,973,000
Available statutory capital and surplus	1,982,618,000	1,885,383,000
Maximum dividend/distribution payable without regulatory approval	$ 119,000,000	$ 120,000,000
Maximum dividend limit - percentage of total statutory capital and surplus	10%

SCHEDULE I - SUMMARY OF INVES_2

SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES (Details) $ in Thousands	Dec. 31, 2022 USD ($)
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	$ 13,867,405
Amount shown on the balance sheet	14,353,284
Fixed maturities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	12,176,473
Fair value	11,326,894
Amount shown on the balance sheet	11,326,894
Fixed maturities | U.S. government and agency
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	2,731,733
Fair value	2,639,330
Amount shown on the balance sheet	2,639,330
Fixed maturities | Non-U.S. government
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	612,546
Fair value	562,029
Amount shown on the balance sheet	562,029
Fixed maturities | Corporate debt
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	4,680,798
Fair value	4,255,556
Amount shown on the balance sheet	4,255,556
Fixed maturities | Agency RMBS
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	1,297,423
Fair value	1,202,785
Amount shown on the balance sheet	1,202,785
Fixed maturities | CMBS
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	1,029,863
Fair value	947,778
Amount shown on the balance sheet	947,778
Fixed maturities | Non-agency RMBS
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	151,907
Fair value	133,534
Amount shown on the balance sheet	133,534
Fixed maturities | ABS
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	1,499,728
Fair value	1,429,527
Amount shown on the balance sheet	1,429,527
Fixed maturities | Municipals
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	172,475
Fair value	156,355
Amount shown on the balance sheet	156,355
Fixed maturities, held to maturity, at amortized cost
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	698,351
Fair value	674,743
Amount shown on the balance sheet	698,351
Fixed maturities, held to maturity, at amortized cost | Corporate debt
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	85,200
Fair value	73,772
Amount shown on the balance sheet	85,200
Fixed maturities, held to maturity, at amortized cost | ABS
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	613,151
Fair value	600,971
Amount shown on the balance sheet	613,151
Mortgage loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	627,437
Amount shown on the balance sheet	627,437
Short-term investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	70,310
Amount shown on the balance sheet	70,310
Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	485,253
Amount shown on the balance sheet	485,253
Other investments, at fair value
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	682,768
Amount shown on the balance sheet	996,751
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	$ 148,288

SCHEDULE II - CONDENSED BALANCE

SCHEDULE II - CONDENSED BALANCE SHEETS (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 751,415	$ 844,592
Other assets	438,338	309,792
Total assets	27,595,811	27,368,970
Liabilities
Other liabilities	386,855	427,894
Total liabilities	22,955,901	21,958,314
Shareholders’ equity
Preferred shares	550,000	550,000
Common shares (shares issued 2022: 176,580; 2021: 176,580 shares outstanding 2022: 84,668; 2021: 84,774)	2,206	2,206
Additional paid-in capital	2,366,253	2,346,179
Accumulated other comprehensive income (loss)	(760,300)	56,536
Retained earnings	6,247,022	6,204,745
Treasury shares, at cost (2022: 91,912; 2021: 91,806)	(3,765,271)	(3,749,010)
Total shareholders’ equity	4,639,910	5,410,656	$ 5,295,694
Total liabilities and shareholders’ equity	27,595,811	27,368,970
AXIS Capital Holdings Limited
Assets
Investments in subsidiaries	4,943,126	5,676,653
Cash and cash equivalents	1,932	1,531
Other assets	4,432	6,525
Total assets	4,949,490	5,684,709
Liabilities
Intercompany payable	225,490	192,618
Dividends payable	52,992	51,775
Other liabilities	31,098	29,660
Total liabilities	309,580	274,053
Shareholders’ equity
Preferred shares	550,000	550,000
Common shares (shares issued 2022: 176,580; 2021: 176,580 shares outstanding 2022: 84,668; 2021: 84,774)	2,206	2,206
Additional paid-in capital	2,366,253	2,346,179
Accumulated other comprehensive income (loss)	(760,300)	56,536
Retained earnings	6,247,022	6,204,745
Treasury shares, at cost (2022: 91,912; 2021: 91,806)	(3,765,271)	(3,749,010)
Total shareholders’ equity	4,639,910	5,410,656
Total liabilities and shareholders’ equity	$ 4,949,490	$ 5,684,709

SCHEDULE II - CONDENSED BALAN_2

SCHEDULE II - CONDENSED BALANCE SHEETS - Additional Information (Details) - shares shares in Thousands	Dec. 31, 2022	Dec. 31, 2021
Condensed Financial Information of Parent Company [Line Items]
Common shares, shares issued (in shares)	176,580	176,580
Common Stock, Shares, Outstanding	84,668	84,774
Treasury shares (in shares)	91,912	91,806
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	84,668	84,774
Treasury shares (in shares)	91,912	91,806

SCHEDULE II - CONDENSED BALAN_3

SCHEDULE II - CONDENSED BALANCE SHEETS - Footnotes (Details) - USD ($)	Dec. 31, 2022	Dec. 10, 2019	Jun. 19, 2019	Dec. 06, 2017	Mar. 13, 2014
Senior Notes | 5.150% Senior Notes
Condensed Financial Information of Parent Company [Line Items]
Interest rate					5.15%
Aggregate Principal					$ 250,000,000
Senior Notes | 4.000% Senior Notes
Condensed Financial Information of Parent Company [Line Items]
Interest rate				4%
Aggregate Principal				$ 350,000,000
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%			100%	100%
Subsidiary Issuer | AXIS Specialty Finance LLC
Condensed Financial Information of Parent Company [Line Items]
Percentage ownership in subsidiary	100%		100%
Full and Unconditional Guarantee of Debt | Subsidiary Issuer | AXIS Specialty Finance PLC | Senior Notes | 5.150% Senior Notes
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 | 4.000% Senior Notes
Condensed Financial Information of Parent Company [Line Items]
Interest rate	4%
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, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Total revenues	$ 5,135,439	$ 5,321,725	$ 4,841,954
Expenses
Net income (loss)	223,083	618,609	(120,424)
Preferred share dividends	30,250	30,250	30,250
Net income (loss) available (attributable) to common shareholders	192,833	588,359	(150,674)
Comprehensive income (loss)	(593,753)	260,750	122,261
AXIS Capital Holdings Limited
Revenues
Net investment income	0	0	750
Total revenues	0	0	750
Expenses
General and administrative expenses	60,252	62,843	37,629
Total expenses	60,252	62,843	37,629
Income (loss) before equity in net income (loss) of subsidiaries	(60,252)	(62,843)	(36,879)
Equity in net income (loss) of subsidiaries	283,335	681,452	(83,545)
Net income (loss)	223,083	618,609	(120,424)
Preferred share dividends	30,250	30,250	30,250
Net income (loss) available (attributable) to common shareholders	192,833	588,359	(150,674)
Comprehensive income (loss)	$ (593,753)	$ 260,750	$ 122,261

SCHEDULE II - CONDENSED STATE_2

SCHEDULE II - CONDENSED STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 223,083	$ 618,609	$ (120,424)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Other items	(45,848)	155,979	(97,064)
Share-based compensation expense, net of cash payments	48,494	37,744	29,005
Net cash provided by operating activities	692,216	1,114,822	343,503
Cash flows from financing activities:
Taxes paid on withholding shares	(13,994)	(10,242)	(10,382)
Dividends paid - common shares	(149,341)	(145,603)	(141,590)
Repurchase of preferred shares	0	0	(225,000)
Repurchase of common shares - open market	(34,987)		0
Dividends paid - preferred shares	(30,250)	(30,250)	(31,831)
Net cash used in financing activities	(149,622)	(186,095)	(908,803)
Increase (decrease) in cash, cash equivalents and restricted cash	(143,037)	(185,542)	(73,225)
Cash, cash equivalents and restricted cash - beginning of year	1,317,690	1,503,232	1,576,457
Cash, cash equivalents and restricted cash - end of year	1,174,653	1,317,690	1,503,232
AXIS Capital Holdings Limited
Cash flows from operating activities:
Net income (loss)	223,083	618,609	(120,424)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in net (income) loss of subsidiaries	(283,335)	(681,452)	83,545
Change in intercompany payable	32,871	(96,868)	73,575
Dividends received from subsidiaries	225,000	300,000	350,000
Other items	(17,140)	7,882	(8,290)
Share-based compensation expense, net of cash payments	48,494	37,744	29,005
Net cash provided by operating activities	228,973	185,915	407,411
Cash flows from financing activities:
Taxes paid on withholding shares	(13,994)	(10,242)	(10,382)
Dividends paid - common shares	(149,341)	(145,603)	(141,590)
Repurchase of preferred shares	0	0	(225,000)
Repurchase of common shares - open market	(34,987)	0	0
Dividends paid - preferred shares	(30,250)	(30,250)	(31,831)
Net cash used in financing activities	(228,572)	(186,095)	(408,803)
Increase (decrease) in cash, cash equivalents and restricted cash	401	(180)	(1,392)
Cash, cash equivalents and restricted cash - beginning of year	1,531	1,711	3,103
Cash, cash equivalents and restricted cash - end of year	$ 1,932	$ 1,531	$ 1,711

SCHEDULE III - SUPPLEMENTARY _2

SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplementary Insurance Information [Line Items]
Deferred acquisition costs	$ 473,569	$ 465,593	$ 431,439
Reserve for losses and loss expenses	15,168,863	14,653,094	13,926,766
Unearned premiums	4,361,447	4,090,676	3,685,886
Net premiums earned	5,160,326	4,709,850	4,371,309
Net investment income	418,829	454,301	349,601
Net losses and loss expenses	3,242,410	3,008,783	3,281,252
Acquisition costs	1,022,017	921,834	929,517
Other operating expenses	680,343	663,304	579,790
Net premiums written	5,263,056	4,926,624	4,336,409
General and administrative expenses	680,343	663,304	579,790
Operating Segments
Supplementary Insurance Information [Line Items]
General and administrative expenses	550,289	536,834	477,968
Operating Segments | Insurance
Supplementary Insurance Information [Line Items]
Deferred acquisition costs	249,407	212,681	176,749
Reserve for losses and loss expenses	8,381,593	7,803,529	7,310,498
Unearned premiums	3,077,628	2,716,240	2,295,763
Net premiums earned	3,134,155	2,651,339	2,299,038
Net investment income	0	0	0
Net losses and loss expenses	1,785,854	1,514,998	1,697,014
Acquisition costs	577,838	484,344	461,533
Other operating expenses	443,704	429,282	378,839
Net premiums written	3,377,906	2,894,885	2,357,501
General and administrative expenses	443,704	429,282	378,839
Operating Segments | Reinsurance
Supplementary Insurance Information [Line Items]
Deferred acquisition costs	224,162	252,912	254,690
Reserve for losses and loss expenses	6,787,270	6,849,565	6,616,268
Unearned premiums	1,283,819	1,374,436	1,390,123
Net premiums earned	2,026,171	2,058,511	2,072,271
Net investment income	0	0	0
Net losses and loss expenses	1,456,556	1,493,785	1,584,238
Acquisition costs	444,179	437,490	467,984
Other operating expenses	106,585	107,552	99,129
Net premiums written	1,885,150	2,031,739	1,978,908
General and administrative expenses	106,585	107,552	99,129
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	418,829	454,301	349,601
Net losses and loss expenses	0	0	0
Acquisition costs	0	0	0
Other operating expenses	130,054	126,470	101,822
Net premiums written	0	0	0
General and administrative expenses	$ 130,054	$ 126,470	$ 101,822

SCHEDULE IV - SUPPLEMENTARY R_2

SCHEDULE IV - SUPPLEMENTARY REINSURANCE INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplementary Insurance Information [Line Items]
GROSS AMOUNT	$ 5,102,958	$ 4,405,452	$ 3,610,201
CEDED TO OTHER COMPANIES	2,951,539	2,759,360	2,490,529
ASSUMED FROM OTHER COMPANIES	3,111,637	3,280,532	3,216,737
Net	$ 5,263,056	$ 4,926,624	$ 4,336,409
PERCENTAGE OF AMOUNT ASSUMED TO NET	59.10%	66.60%	74.20%
Property and Casualty
Supplementary Insurance Information [Line Items]
GROSS AMOUNT	$ 4,858,629	$ 4,233,758	$ 3,455,690
CEDED TO OTHER COMPANIES	2,900,300	2,700,693	2,446,890
ASSUMED FROM OTHER COMPANIES	2,685,677	2,874,687	2,840,834
Net	$ 4,644,006	$ 4,407,752	$ 3,849,634
PERCENTAGE OF AMOUNT ASSUMED TO NET	57.80%	65.20%	73.80%
Accident and health
Supplementary Insurance Information [Line Items]
GROSS AMOUNT	$ 244,329	$ 171,694	$ 154,511
CEDED TO OTHER COMPANIES	51,239	58,667	43,639
ASSUMED FROM OTHER COMPANIES	425,960	405,845	375,903
Net	$ 619,050	$ 518,872	$ 486,775
PERCENTAGE OF AMOUNT ASSUMED TO NET	68.80%	78.20%	77.20%