context
stringlengths 21
24.6k
| category
stringclasses 2
values | entity
stringlengths 1
12
| entity_type
stringclasses 5
values | query
stringlengths 97
3.31k
| answer
stringlengths 12
168
|
|---|---|---|---|---|---|
Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. | text | 0 million | monetaryItemType | text: <entity> 0 million </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. </context> | us-gaap:ProceedsFromSaleOfRealEstateHeldforinvestment |
Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. | text | 10 | monetaryItemType | text: <entity> 10 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. </context> | us-gaap:ProceedsFromSaleOfRealEstateHeldforinvestment |
Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. | text | 17 | monetaryItemType | text: <entity> 17 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. </context> | us-gaap:GainsLossesOnSalesOfInvestmentRealEstate |
Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. </context> | us-gaap:GainsLossesOnSalesOfInvestmentRealEstate |
Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. </context> | us-gaap:ImpairmentOfRealEstate |
Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. | text | 9 | monetaryItemType | text: <entity> 9 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. </context> | us-gaap:ImpairmentOfRealEstate |
Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. </context> | us-gaap:ImpairmentOfRealEstate |
Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. | text | 581 | monetaryItemType | text: <entity> 581 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. </context> | us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation |
Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. | text | 556 | monetaryItemType | text: <entity> 556 </entity> <entity type> monetaryItemType </entity type> <context> Proceeds from the sales of real estate investments were $ 64 million in 2024, $ 0 million in 2023 and $ 10 million in 2022. Gains of $ 17 million and $ 4 million were realized on those sales in 2024 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of impairment charges related to real estate. Accumulated depreciation on real estate held for investment purposes was $ 581 million and $ 556 million at December 31, 2024 and 2023, respectively. </context> | us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation |
Future minimum rental income on operating leases relating to the Company’s real estate properties is expected to be $ 118 million, $ 107 million, $ 93 million, $ 72 million and $ 46 million for 2025, 2026, 2027, 2028 and 2029, respectively, and $ 87 million for 2030 and thereafter. | text | 118 | monetaryItemType | text: <entity> 118 </entity> <entity type> monetaryItemType </entity type> <context> Future minimum rental income on operating leases relating to the Company’s real estate properties is expected to be $ 118 million, $ 107 million, $ 93 million, $ 72 million and $ 46 million for 2025, 2026, 2027, 2028 and 2029, respectively, and $ 87 million for 2030 and thereafter. </context> | us-gaap:LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths |
Future minimum rental income on operating leases relating to the Company’s real estate properties is expected to be $ 118 million, $ 107 million, $ 93 million, $ 72 million and $ 46 million for 2025, 2026, 2027, 2028 and 2029, respectively, and $ 87 million for 2030 and thereafter. | text | 107 | monetaryItemType | text: <entity> 107 </entity> <entity type> monetaryItemType </entity type> <context> Future minimum rental income on operating leases relating to the Company’s real estate properties is expected to be $ 118 million, $ 107 million, $ 93 million, $ 72 million and $ 46 million for 2025, 2026, 2027, 2028 and 2029, respectively, and $ 87 million for 2030 and thereafter. </context> | us-gaap:LessorOperatingLeasePaymentsToBeReceivedTwoYears |
Future minimum rental income on operating leases relating to the Company’s real estate properties is expected to be $ 118 million, $ 107 million, $ 93 million, $ 72 million and $ 46 million for 2025, 2026, 2027, 2028 and 2029, respectively, and $ 87 million for 2030 and thereafter. | text | 93 | monetaryItemType | text: <entity> 93 </entity> <entity type> monetaryItemType </entity type> <context> Future minimum rental income on operating leases relating to the Company’s real estate properties is expected to be $ 118 million, $ 107 million, $ 93 million, $ 72 million and $ 46 million for 2025, 2026, 2027, 2028 and 2029, respectively, and $ 87 million for 2030 and thereafter. </context> | us-gaap:LessorOperatingLeasePaymentsToBeReceivedThreeYears |
Future minimum rental income on operating leases relating to the Company’s real estate properties is expected to be $ 118 million, $ 107 million, $ 93 million, $ 72 million and $ 46 million for 2025, 2026, 2027, 2028 and 2029, respectively, and $ 87 million for 2030 and thereafter. | text | 72 | monetaryItemType | text: <entity> 72 </entity> <entity type> monetaryItemType </entity type> <context> Future minimum rental income on operating leases relating to the Company’s real estate properties is expected to be $ 118 million, $ 107 million, $ 93 million, $ 72 million and $ 46 million for 2025, 2026, 2027, 2028 and 2029, respectively, and $ 87 million for 2030 and thereafter. </context> | us-gaap:LessorOperatingLeasePaymentsToBeReceivedFourYears |
Future minimum rental income on operating leases relating to the Company’s real estate properties is expected to be $ 118 million, $ 107 million, $ 93 million, $ 72 million and $ 46 million for 2025, 2026, 2027, 2028 and 2029, respectively, and $ 87 million for 2030 and thereafter. | text | 46 | monetaryItemType | text: <entity> 46 </entity> <entity type> monetaryItemType </entity type> <context> Future minimum rental income on operating leases relating to the Company’s real estate properties is expected to be $ 118 million, $ 107 million, $ 93 million, $ 72 million and $ 46 million for 2025, 2026, 2027, 2028 and 2029, respectively, and $ 87 million for 2030 and thereafter. </context> | us-gaap:LessorOperatingLeasePaymentsToBeReceivedFiveYears |
Future minimum rental income on operating leases relating to the Company’s real estate properties is expected to be $ 118 million, $ 107 million, $ 93 million, $ 72 million and $ 46 million for 2025, 2026, 2027, 2028 and 2029, respectively, and $ 87 million for 2030 and thereafter. | text | 87 | monetaryItemType | text: <entity> 87 </entity> <entity type> monetaryItemType </entity type> <context> Future minimum rental income on operating leases relating to the Company’s real estate properties is expected to be $ 118 million, $ 107 million, $ 93 million, $ 72 million and $ 46 million for 2025, 2026, 2027, 2028 and 2029, respectively, and $ 87 million for 2030 and thereafter. </context> | us-gaap:LessorOperatingLeasePaymentsToBeReceivedThereafter |
The Company’s short-term securities consist of Aaa-rated registered money market funds, U.S. Treasury securities, high-quality commercial paper (primarily A1/P1) and high-quality corporate securities purchased within a year to their maturity with a combined average of 23 days to maturity at December 31, 2024. The amortized cost of these securities, which totaled $ 4.77 billion and $ 5.14 billion at December 31, 2024 and 2023, respectively, approximated their fair value. | text | 4.77 | monetaryItemType | text: <entity> 4.77 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s short-term securities consist of Aaa-rated registered money market funds, U.S. Treasury securities, high-quality commercial paper (primarily A1/P1) and high-quality corporate securities purchased within a year to their maturity with a combined average of 23 days to maturity at December 31, 2024. The amortized cost of these securities, which totaled $ 4.77 billion and $ 5.14 billion at December 31, 2024 and 2023, respectively, approximated their fair value. </context> | us-gaap:OtherShortTermInvestments |
The Company’s short-term securities consist of Aaa-rated registered money market funds, U.S. Treasury securities, high-quality commercial paper (primarily A1/P1) and high-quality corporate securities purchased within a year to their maturity with a combined average of 23 days to maturity at December 31, 2024. The amortized cost of these securities, which totaled $ 4.77 billion and $ 5.14 billion at December 31, 2024 and 2023, respectively, approximated their fair value. | text | 5.14 | monetaryItemType | text: <entity> 5.14 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s short-term securities consist of Aaa-rated registered money market funds, U.S. Treasury securities, high-quality commercial paper (primarily A1/P1) and high-quality corporate securities purchased within a year to their maturity with a combined average of 23 days to maturity at December 31, 2024. The amortized cost of these securities, which totaled $ 4.77 billion and $ 5.14 billion at December 31, 2024 and 2023, respectively, approximated their fair value. </context> | us-gaap:OtherShortTermInvestments |
Total net impairment charges, including credit impairments, reported in net realized investment losses in the consolidated statement of income, were $ 10 million, $ 12 million and $ 38 million for the years ended December 31, 2024, 2023 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of realized losses related to real estate. Credit losses related to the fixed maturity portfolio for 2024 and 2023 represented less than 1 % of the fixed maturity portfolio on a pre-tax basis and less than 1 % of shareholders’ equity on an after-tax basis at both December 31, 2024 and 2023. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> Total net impairment charges, including credit impairments, reported in net realized investment losses in the consolidated statement of income, were $ 10 million, $ 12 million and $ 38 million for the years ended December 31, 2024, 2023 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of realized losses related to real estate. Credit losses related to the fixed maturity portfolio for 2024 and 2023 represented less than 1 % of the fixed maturity portfolio on a pre-tax basis and less than 1 % of shareholders’ equity on an after-tax basis at both December 31, 2024 and 2023. </context> | us-gaap:ImpairmentOfRealEstate |
Total net impairment charges, including credit impairments, reported in net realized investment losses in the consolidated statement of income, were $ 10 million, $ 12 million and $ 38 million for the years ended December 31, 2024, 2023 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of realized losses related to real estate. Credit losses related to the fixed maturity portfolio for 2024 and 2023 represented less than 1 % of the fixed maturity portfolio on a pre-tax basis and less than 1 % of shareholders’ equity on an after-tax basis at both December 31, 2024 and 2023. | text | 9 | monetaryItemType | text: <entity> 9 </entity> <entity type> monetaryItemType </entity type> <context> Total net impairment charges, including credit impairments, reported in net realized investment losses in the consolidated statement of income, were $ 10 million, $ 12 million and $ 38 million for the years ended December 31, 2024, 2023 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of realized losses related to real estate. Credit losses related to the fixed maturity portfolio for 2024 and 2023 represented less than 1 % of the fixed maturity portfolio on a pre-tax basis and less than 1 % of shareholders’ equity on an after-tax basis at both December 31, 2024 and 2023. </context> | us-gaap:ImpairmentOfRealEstate |
Total net impairment charges, including credit impairments, reported in net realized investment losses in the consolidated statement of income, were $ 10 million, $ 12 million and $ 38 million for the years ended December 31, 2024, 2023 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of realized losses related to real estate. Credit losses related to the fixed maturity portfolio for 2024 and 2023 represented less than 1 % of the fixed maturity portfolio on a pre-tax basis and less than 1 % of shareholders’ equity on an after-tax basis at both December 31, 2024 and 2023. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> Total net impairment charges, including credit impairments, reported in net realized investment losses in the consolidated statement of income, were $ 10 million, $ 12 million and $ 38 million for the years ended December 31, 2024, 2023 and 2022, respectively. Net realized investment losses in 2024, 2023 and 2022 included $ 5 million, $ 9 million and $ 12 million, respectively, of realized losses related to real estate. Credit losses related to the fixed maturity portfolio for 2024 and 2023 represented less than 1 % of the fixed maturity portfolio on a pre-tax basis and less than 1 % of shareholders’ equity on an after-tax basis at both December 31, 2024 and 2023. </context> | us-gaap:ImpairmentOfRealEstate |
Included in fixed maturities are below investment grade securities totaling $ 980 million and $ 982 million at December 31, 2024 and 2023, respectively. The Company defines its below investment grade securities as those securities rated below investment grade by external rating agencies, or the equivalent by the Company when a public rating does not exist. Such securities include below investment grade bonds that are publicly traded and certain other privately issued bonds that are classified as below investment grade loans. | text | 980 | monetaryItemType | text: <entity> 980 </entity> <entity type> monetaryItemType </entity type> <context> Included in fixed maturities are below investment grade securities totaling $ 980 million and $ 982 million at December 31, 2024 and 2023, respectively. The Company defines its below investment grade securities as those securities rated below investment grade by external rating agencies, or the equivalent by the Company when a public rating does not exist. Such securities include below investment grade bonds that are publicly traded and certain other privately issued bonds that are classified as below investment grade loans. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
Included in fixed maturities are below investment grade securities totaling $ 980 million and $ 982 million at December 31, 2024 and 2023, respectively. The Company defines its below investment grade securities as those securities rated below investment grade by external rating agencies, or the equivalent by the Company when a public rating does not exist. Such securities include below investment grade bonds that are publicly traded and certain other privately issued bonds that are classified as below investment grade loans. | text | 982 | monetaryItemType | text: <entity> 982 </entity> <entity type> monetaryItemType </entity type> <context> Included in fixed maturities are below investment grade securities totaling $ 980 million and $ 982 million at December 31, 2024 and 2023, respectively. The Company defines its below investment grade securities as those securities rated below investment grade by external rating agencies, or the equivalent by the Company when a public rating does not exist. Such securities include below investment grade bonds that are publicly traded and certain other privately issued bonds that are classified as below investment grade loans. </context> | us-gaap:AvailableForSaleSecuritiesDebtSecurities |
The Company holds investments in various publicly-traded securities which are reported in other investments. These investments include mutual funds and other small holdings. The $ 20 million and $ 18 million fair value of these investments at December 31, 2024 and 2023, respectively, was disclosed in Level 1. | text | 20 | monetaryItemType | text: <entity> 20 </entity> <entity type> monetaryItemType </entity type> <context> The Company holds investments in various publicly-traded securities which are reported in other investments. These investments include mutual funds and other small holdings. The $ 20 million and $ 18 million fair value of these investments at December 31, 2024 and 2023, respectively, was disclosed in Level 1. </context> | us-gaap:InvestmentsFairValueDisclosure |
The Company holds investments in various publicly-traded securities which are reported in other investments. These investments include mutual funds and other small holdings. The $ 20 million and $ 18 million fair value of these investments at December 31, 2024 and 2023, respectively, was disclosed in Level 1. | text | 18 | monetaryItemType | text: <entity> 18 </entity> <entity type> monetaryItemType </entity type> <context> The Company holds investments in various publicly-traded securities which are reported in other investments. These investments include mutual funds and other small holdings. The $ 20 million and $ 18 million fair value of these investments at December 31, 2024 and 2023, respectively, was disclosed in Level 1. </context> | us-gaap:InvestmentsFairValueDisclosure |
Transfers out of Level 3 during the year ended December 31, 2023 included $ 182 million of privately held common stock that the Company exchanged during the first quarter of 2023 for shares in an investment that is reported using the equity method of accounting (and as a result is excluded from the December 31, 2023 table above), and $ 151 million of common stock in a company that had been privately held but became publicly traded during the second quarter of 2023, valued using an unadjusted quoted market price and now disclosed in Level 1. There was no other significant activity in Level 3 of the hierarchy during the year ended December 31, 2023. | text | 182 | monetaryItemType | text: <entity> 182 </entity> <entity type> monetaryItemType </entity type> <context> Transfers out of Level 3 during the year ended December 31, 2023 included $ 182 million of privately held common stock that the Company exchanged during the first quarter of 2023 for shares in an investment that is reported using the equity method of accounting (and as a result is excluded from the December 31, 2023 table above), and $ 151 million of common stock in a company that had been privately held but became publicly traded during the second quarter of 2023, valued using an unadjusted quoted market price and now disclosed in Level 1. There was no other significant activity in Level 3 of the hierarchy during the year ended December 31, 2023. </context> | us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3 |
Transfers out of Level 3 during the year ended December 31, 2023 included $ 182 million of privately held common stock that the Company exchanged during the first quarter of 2023 for shares in an investment that is reported using the equity method of accounting (and as a result is excluded from the December 31, 2023 table above), and $ 151 million of common stock in a company that had been privately held but became publicly traded during the second quarter of 2023, valued using an unadjusted quoted market price and now disclosed in Level 1. There was no other significant activity in Level 3 of the hierarchy during the year ended December 31, 2023. | text | 151 | monetaryItemType | text: <entity> 151 </entity> <entity type> monetaryItemType </entity type> <context> Transfers out of Level 3 during the year ended December 31, 2023 included $ 182 million of privately held common stock that the Company exchanged during the first quarter of 2023 for shares in an investment that is reported using the equity method of accounting (and as a result is excluded from the December 31, 2023 table above), and $ 151 million of common stock in a company that had been privately held but became publicly traded during the second quarter of 2023, valued using an unadjusted quoted market price and now disclosed in Level 1. There was no other significant activity in Level 3 of the hierarchy during the year ended December 31, 2023. </context> | us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3 |
Of the total reinsurance recoverables at December 31, 2024, $ 5.79 billion, or 88 %, were rated by A.M. Best Company, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance. The Company utilizes updated A.M. Best credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 94 % were rated A- or better. The remaining 12 % of reinsurance recoverables were comprised of the following: 6 % related to captive insurance companies and 6 % were balances from other companies not rated by A.M. Best Company. Certain of the Company’s reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements. | text | 5.79 | monetaryItemType | text: <entity> 5.79 </entity> <entity type> monetaryItemType </entity type> <context> Of the total reinsurance recoverables at December 31, 2024, $ 5.79 billion, or 88 %, were rated by A.M. Best Company, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance. The Company utilizes updated A.M. Best credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 94 % were rated A- or better. The remaining 12 % of reinsurance recoverables were comprised of the following: 6 % related to captive insurance companies and 6 % were balances from other companies not rated by A.M. Best Company. Certain of the Company’s reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements. </context> | us-gaap:ReinsuranceRecoverablesGross |
Of the total reinsurance recoverables at December 31, 2024, $ 5.79 billion, or 88 %, were rated by A.M. Best Company, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance. The Company utilizes updated A.M. Best credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 94 % were rated A- or better. The remaining 12 % of reinsurance recoverables were comprised of the following: 6 % related to captive insurance companies and 6 % were balances from other companies not rated by A.M. Best Company. Certain of the Company’s reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements. | text | 88 | percentItemType | text: <entity> 88 </entity> <entity type> percentItemType </entity type> <context> Of the total reinsurance recoverables at December 31, 2024, $ 5.79 billion, or 88 %, were rated by A.M. Best Company, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance. The Company utilizes updated A.M. Best credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 94 % were rated A- or better. The remaining 12 % of reinsurance recoverables were comprised of the following: 6 % related to captive insurance companies and 6 % were balances from other companies not rated by A.M. Best Company. Certain of the Company’s reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements. </context> | us-gaap:ConcentrationRiskPercentage1 |
Of the total reinsurance recoverables at December 31, 2024, $ 5.79 billion, or 88 %, were rated by A.M. Best Company, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance. The Company utilizes updated A.M. Best credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 94 % were rated A- or better. The remaining 12 % of reinsurance recoverables were comprised of the following: 6 % related to captive insurance companies and 6 % were balances from other companies not rated by A.M. Best Company. Certain of the Company’s reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements. | text | 94 | percentItemType | text: <entity> 94 </entity> <entity type> percentItemType </entity type> <context> Of the total reinsurance recoverables at December 31, 2024, $ 5.79 billion, or 88 %, were rated by A.M. Best Company, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance. The Company utilizes updated A.M. Best credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 94 % were rated A- or better. The remaining 12 % of reinsurance recoverables were comprised of the following: 6 % related to captive insurance companies and 6 % were balances from other companies not rated by A.M. Best Company. Certain of the Company’s reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements. </context> | us-gaap:ConcentrationRiskPercentage1 |
Of the total reinsurance recoverables at December 31, 2024, $ 5.79 billion, or 88 %, were rated by A.M. Best Company, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance. The Company utilizes updated A.M. Best credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 94 % were rated A- or better. The remaining 12 % of reinsurance recoverables were comprised of the following: 6 % related to captive insurance companies and 6 % were balances from other companies not rated by A.M. Best Company. Certain of the Company’s reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements. | text | 12 | percentItemType | text: <entity> 12 </entity> <entity type> percentItemType </entity type> <context> Of the total reinsurance recoverables at December 31, 2024, $ 5.79 billion, or 88 %, were rated by A.M. Best Company, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance. The Company utilizes updated A.M. Best credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 94 % were rated A- or better. The remaining 12 % of reinsurance recoverables were comprised of the following: 6 % related to captive insurance companies and 6 % were balances from other companies not rated by A.M. Best Company. Certain of the Company’s reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements. </context> | us-gaap:ConcentrationRiskPercentage1 |
Of the total reinsurance recoverables at December 31, 2024, $ 5.79 billion, or 88 %, were rated by A.M. Best Company, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance. The Company utilizes updated A.M. Best credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 94 % were rated A- or better. The remaining 12 % of reinsurance recoverables were comprised of the following: 6 % related to captive insurance companies and 6 % were balances from other companies not rated by A.M. Best Company. Certain of the Company’s reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements. | text | 6 | percentItemType | text: <entity> 6 </entity> <entity type> percentItemType </entity type> <context> Of the total reinsurance recoverables at December 31, 2024, $ 5.79 billion, or 88 %, were rated by A.M. Best Company, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance. The Company utilizes updated A.M. Best credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 94 % were rated A- or better. The remaining 12 % of reinsurance recoverables were comprised of the following: 6 % related to captive insurance companies and 6 % were balances from other companies not rated by A.M. Best Company. Certain of the Company’s reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements. </context> | us-gaap:ConcentrationRiskPercentage1 |
Goodwill at December 31, 2024 included $ 284 million associated with the acquisition of Corvus in the first quarter of 2024, which is primarily attributable to Corvus’s cyber underwriting and support capabilities and workforce and is not deductible for tax purposes. | text | 284 | monetaryItemType | text: <entity> 284 </entity> <entity type> monetaryItemType </entity type> <context> Goodwill at December 31, 2024 included $ 284 million associated with the acquisition of Corvus in the first quarter of 2024, which is primarily attributable to Corvus’s cyber underwriting and support capabilities and workforce and is not deductible for tax purposes. </context> | us-gaap:Goodwill |
Goodwill at December 31, 2024 included $ 284 million associated with the acquisition of Corvus in the first quarter of 2024, which is primarily attributable to Corvus’s cyber underwriting and support capabilities and workforce and is not deductible for tax purposes. | text | not | monetaryItemType | text: <entity> not </entity> <entity type> monetaryItemType </entity type> <context> Goodwill at December 31, 2024 included $ 284 million associated with the acquisition of Corvus in the first quarter of 2024, which is primarily attributable to Corvus’s cyber underwriting and support capabilities and workforce and is not deductible for tax purposes. </context> | us-gaap:BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount |
Customer-related intangibles of $ 87 million were recorded in connection with the acquisition of Corvus in the first quarter of 2024. The customer-related intangible assets include Corvus’s broker and policyholder relationships and were valued using the excess earnings method income approach, a valuation technique that provides an estimate of fair value based on the cash flows that the asset can be expected to generate over its remaining useful life. Broker relationships represent the relationships Corvus has with its existing brokers through which new business is placed with policyholders. Policyholder relationships represent the renewal of existing policies. Significant inputs to the fair valuation include estimates of revenue growth, broker retention rates, policyholder attrition rates and weighted average cost of capital. | text | 87 | monetaryItemType | text: <entity> 87 </entity> <entity type> monetaryItemType </entity type> <context> Customer-related intangibles of $ 87 million were recorded in connection with the acquisition of Corvus in the first quarter of 2024. The customer-related intangible assets include Corvus’s broker and policyholder relationships and were valued using the excess earnings method income approach, a valuation technique that provides an estimate of fair value based on the cash flows that the asset can be expected to generate over its remaining useful life. Broker relationships represent the relationships Corvus has with its existing brokers through which new business is placed with policyholders. Policyholder relationships represent the renewal of existing policies. Significant inputs to the fair valuation include estimates of revenue growth, broker retention rates, policyholder attrition rates and weighted average cost of capital. </context> | us-gaap:FinitelivedIntangibleAssetsAcquired1 |
Marketing-related intangibles of $ 18 million were recorded in connection with the acquisition of Corvus in the first quarter of 2024. The marketing-related intangible assets include trade names and a non-compete agreement. The trade names were valued using a relief from royalty method, a valuation technique which estimates the fair value of an asset based on the present value of the royalties saved because the company owns the asset. Significant inputs to the fair valuation include estimates of future revenue, appropriate rates of return associated with certain assets and weighted average cost of capital. The fair value of the non-compete agreement is based on an estimate of the income that would be lost if the agreement were not in place and the individual chose to compete. Significant inputs to the fair valuation include estimates of projected cash flows and weighted average cost of capital. | text | 18 | monetaryItemType | text: <entity> 18 </entity> <entity type> monetaryItemType </entity type> <context> Marketing-related intangibles of $ 18 million were recorded in connection with the acquisition of Corvus in the first quarter of 2024. The marketing-related intangible assets include trade names and a non-compete agreement. The trade names were valued using a relief from royalty method, a valuation technique which estimates the fair value of an asset based on the present value of the royalties saved because the company owns the asset. Significant inputs to the fair valuation include estimates of future revenue, appropriate rates of return associated with certain assets and weighted average cost of capital. The fair value of the non-compete agreement is based on an estimate of the income that would be lost if the agreement were not in place and the individual chose to compete. Significant inputs to the fair valuation include estimates of projected cash flows and weighted average cost of capital. </context> | us-gaap:FinitelivedIntangibleAssetsAcquired1 |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 21 | monetaryItemType | text: <entity> 21 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:AmortizationOfIntangibleAssets |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:AmortizationOfIntangibleAssets |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 13 | monetaryItemType | text: <entity> 13 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:AmortizationOfIntangibleAssets |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 21 | monetaryItemType | text: <entity> 21 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 20 | monetaryItemType | text: <entity> 20 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 17 | monetaryItemType | text: <entity> 17 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 9 | monetaryItemType | text: <entity> 9 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 9 | monetaryItemType | text: <entity> 9 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive |
Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. | text | 2.65 | monetaryItemType | text: <entity> 2.65 </entity> <entity type> monetaryItemType </entity type> <context> Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:WorkersCompensationLiabilityCurrentAndNoncurrent |
Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. | text | 2.68 | monetaryItemType | text: <entity> 2.68 </entity> <entity type> monetaryItemType </entity type> <context> Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:WorkersCompensationLiabilityCurrentAndNoncurrent |
Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. | text | 1.07 | monetaryItemType | text: <entity> 1.07 </entity> <entity type> monetaryItemType </entity type> <context> Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersDiscountDeductedFromReserves |
Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. | text | 1.10 | monetaryItemType | text: <entity> 1.10 </entity> <entity type> monetaryItemType </entity type> <context> Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersDiscountDeductedFromReserves |
Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. | text | 44 | monetaryItemType | text: <entity> 44 </entity> <entity type> monetaryItemType </entity type> <context> Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:AccretionExpense |
Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. | text | 45 | monetaryItemType | text: <entity> 45 </entity> <entity type> monetaryItemType </entity type> <context> Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:AccretionExpense |
Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. | text | 46 | monetaryItemType | text: <entity> 46 </entity> <entity type> monetaryItemType </entity type> <context> Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:AccretionExpense |
estimated claims and claim adjustment expenses incurred included $ 548 million of net favorable development for claims arising in prior years, including $ 709 million of net favorable prior year reserve development and $ 44 million of accretion of discount that impacted the Company’s results of operations. | text | 548 | monetaryItemType | text: <entity> 548 </entity> <entity type> monetaryItemType </entity type> <context> estimated claims and claim adjustment expenses incurred included $ 548 million of net favorable development for claims arising in prior years, including $ 709 million of net favorable prior year reserve development and $ 44 million of accretion of discount that impacted the Company’s results of operations. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense |
estimated claims and claim adjustment expenses incurred included $ 548 million of net favorable development for claims arising in prior years, including $ 709 million of net favorable prior year reserve development and $ 44 million of accretion of discount that impacted the Company’s results of operations. | text | 44 | monetaryItemType | text: <entity> 44 </entity> <entity type> monetaryItemType </entity type> <context> estimated claims and claim adjustment expenses incurred included $ 548 million of net favorable development for claims arising in prior years, including $ 709 million of net favorable prior year reserve development and $ 44 million of accretion of discount that impacted the Company’s results of operations. </context> | us-gaap:AccretionExpense |
. Net favorable prior year reserve development in 2024 totaled $ 90 million, primarily driven by (i) better than expected loss experience in the domestic operations’ workers’ compensation product line for multiple accident years, partially offset by (ii) higher than expected loss experience in the general liability product line (excluding asbestos) for recent accident years, (iii) an addition to asbestos reserves of $ 242 million and (iv) additions to other reserves related to run-off operations. | text | 242 | monetaryItemType | text: <entity> 242 </entity> <entity type> monetaryItemType </entity type> <context> . Net favorable prior year reserve development in 2024 totaled $ 90 million, primarily driven by (i) better than expected loss experience in the domestic operations’ workers’ compensation product line for multiple accident years, partially offset by (ii) higher than expected loss experience in the general liability product line (excluding asbestos) for recent accident years, (iii) an addition to asbestos reserves of $ 242 million and (iv) additions to other reserves related to run-off operations. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
In 2023, estimated claims and claim adjustment expenses incurred included $ 38 million of net favorable development for claims arising in prior years, including $ 143 million of net favorable prior year reserve development and $ 45 million of accretion of discount that impacted the Company’s results of operations. | text | 38 | monetaryItemType | text: <entity> 38 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, estimated claims and claim adjustment expenses incurred included $ 38 million of net favorable development for claims arising in prior years, including $ 143 million of net favorable prior year reserve development and $ 45 million of accretion of discount that impacted the Company’s results of operations. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense |
In 2023, estimated claims and claim adjustment expenses incurred included $ 38 million of net favorable development for claims arising in prior years, including $ 143 million of net favorable prior year reserve development and $ 45 million of accretion of discount that impacted the Company’s results of operations. | text | 45 | monetaryItemType | text: <entity> 45 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, estimated claims and claim adjustment expenses incurred included $ 38 million of net favorable development for claims arising in prior years, including $ 143 million of net favorable prior year reserve development and $ 45 million of accretion of discount that impacted the Company’s results of operations. </context> | us-gaap:AccretionExpense |
. Net unfavorable prior year reserve development in 2023 totaled $ 289 million, primarily driven by (i) higher than expected loss experience in the domestic operations’ general liability product line (excluding asbestos) for multiple accident years, including additions to reserves attributable to childhood sexual molestation and environmental claims in the Company’s run-off operations, (ii) an addition to asbestos reserves of $ 284 million and (iii) higher than expected loss experience in the domestic operations’ commercial automobile product line for recent accident years, partially offset by (iv) better than expected loss experience in the domestic operations’ workers’ compensation product line for multiple accident years. | text | 284 | monetaryItemType | text: <entity> 284 </entity> <entity type> monetaryItemType </entity type> <context> . Net unfavorable prior year reserve development in 2023 totaled $ 289 million, primarily driven by (i) higher than expected loss experience in the domestic operations’ general liability product line (excluding asbestos) for multiple accident years, including additions to reserves attributable to childhood sexual molestation and environmental claims in the Company’s run-off operations, (ii) an addition to asbestos reserves of $ 284 million and (iii) higher than expected loss experience in the domestic operations’ commercial automobile product line for recent accident years, partially offset by (iv) better than expected loss experience in the domestic operations’ workers’ compensation product line for multiple accident years. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
In 2022, estimated claims and claim adjustment expenses incurred included $ 537 million of net favorable development for claims arising in prior years, including $ 649 million of net favorable prior year reserve development and $ 46 million of accretion of discount that impacted the Company’s results of operations. | text | 537 | monetaryItemType | text: <entity> 537 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, estimated claims and claim adjustment expenses incurred included $ 537 million of net favorable development for claims arising in prior years, including $ 649 million of net favorable prior year reserve development and $ 46 million of accretion of discount that impacted the Company’s results of operations. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense |
In 2022, estimated claims and claim adjustment expenses incurred included $ 537 million of net favorable development for claims arising in prior years, including $ 649 million of net favorable prior year reserve development and $ 46 million of accretion of discount that impacted the Company’s results of operations. | text | 46 | monetaryItemType | text: <entity> 46 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, estimated claims and claim adjustment expenses incurred included $ 537 million of net favorable development for claims arising in prior years, including $ 649 million of net favorable prior year reserve development and $ 46 million of accretion of discount that impacted the Company’s results of operations. </context> | us-gaap:AccretionExpense |
- an addition of $ 212 million, primarily in the domestic operations’ general liability product line; | text | 212 | monetaryItemType | text: <entity> 212 </entity> <entity type> monetaryItemType </entity type> <context> - an addition of $ 212 million, primarily in the domestic operations’ general liability product line; </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
Total reinsurance recoverables (on paid and unpaid losses) at December 31, 2024 were $ 8.00 billion. | text | 8.00 | monetaryItemType | text: <entity> 8.00 </entity> <entity type> monetaryItemType </entity type> <context> Total reinsurance recoverables (on paid and unpaid losses) at December 31, 2024 were $ 8.00 billion. </context> | us-gaap:ReinsuranceRecoverablesOnPaidAndUnpaidLosses |
At December 31, 2024 and 2023, the Company’s claims and claim adjustment expense reserves included $ 1.72 billion and $ 1.76 billion, respectively, for asbestos and environmental-related claims, net of reinsurance. | text | 1.72 | monetaryItemType | text: <entity> 1.72 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the Company’s claims and claim adjustment expense reserves included $ 1.72 billion and $ 1.76 billion, respectively, for asbestos and environmental-related claims, net of reinsurance. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNet |
At December 31, 2024 and 2023, the Company’s claims and claim adjustment expense reserves included $ 1.72 billion and $ 1.76 billion, respectively, for asbestos and environmental-related claims, net of reinsurance. | text | 1.76 | monetaryItemType | text: <entity> 1.76 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the Company’s claims and claim adjustment expense reserves included $ 1.72 billion and $ 1.76 billion, respectively, for asbestos and environmental-related claims, net of reinsurance. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNet |
During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. | text | 282 | monetaryItemType | text: <entity> 282 </entity> <entity type> monetaryItemType </entity type> <context> During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPaymentForClaims |
During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. | text | 212 | monetaryItemType | text: <entity> 212 </entity> <entity type> monetaryItemType </entity type> <context> During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPaymentForClaims |
During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. | text | 245 | monetaryItemType | text: <entity> 245 </entity> <entity type> monetaryItemType </entity type> <context> During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPaymentForClaims |
During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. | text | 242 | monetaryItemType | text: <entity> 242 </entity> <entity type> monetaryItemType </entity type> <context> During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. | text | 284 | monetaryItemType | text: <entity> 284 </entity> <entity type> monetaryItemType </entity type> <context> During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. | text | 212 | monetaryItemType | text: <entity> 212 </entity> <entity type> monetaryItemType </entity type> <context> During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
exposures, are involved in fewer hazardous waste sites and are lower tier defendants than policyholders presenting such claims in the past. Moreover, more efficient clean-up technologies have reduced clean-up costs in many instances depending on the remedy chosen at sites. However, the degree to which those favorable trends have continued has been less than anticipated. In addition, inflationary impacts on consulting and contractor costs, increased involvement of regulatory agencies and costs of their involvement, and the application of more stringent cleanup standards, including on emerging contaminants, has contributed to reserve development on existing environmental claims. Additionally, the costs associated with coverage litigation on environmental matters has been greater than anticipated, driven by claims and legal developments in a limited number of jurisdictions. As a result of these factors, in 2024, 2023 and 2022, the Company increased its net environmental reserves by $ 78 million, $ 93 million and $ 132 million, respectively. | text | 78 | monetaryItemType | text: <entity> 78 </entity> <entity type> monetaryItemType </entity type> <context> exposures, are involved in fewer hazardous waste sites and are lower tier defendants than policyholders presenting such claims in the past. Moreover, more efficient clean-up technologies have reduced clean-up costs in many instances depending on the remedy chosen at sites. However, the degree to which those favorable trends have continued has been less than anticipated. In addition, inflationary impacts on consulting and contractor costs, increased involvement of regulatory agencies and costs of their involvement, and the application of more stringent cleanup standards, including on emerging contaminants, has contributed to reserve development on existing environmental claims. Additionally, the costs associated with coverage litigation on environmental matters has been greater than anticipated, driven by claims and legal developments in a limited number of jurisdictions. As a result of these factors, in 2024, 2023 and 2022, the Company increased its net environmental reserves by $ 78 million, $ 93 million and $ 132 million, respectively. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
exposures, are involved in fewer hazardous waste sites and are lower tier defendants than policyholders presenting such claims in the past. Moreover, more efficient clean-up technologies have reduced clean-up costs in many instances depending on the remedy chosen at sites. However, the degree to which those favorable trends have continued has been less than anticipated. In addition, inflationary impacts on consulting and contractor costs, increased involvement of regulatory agencies and costs of their involvement, and the application of more stringent cleanup standards, including on emerging contaminants, has contributed to reserve development on existing environmental claims. Additionally, the costs associated with coverage litigation on environmental matters has been greater than anticipated, driven by claims and legal developments in a limited number of jurisdictions. As a result of these factors, in 2024, 2023 and 2022, the Company increased its net environmental reserves by $ 78 million, $ 93 million and $ 132 million, respectively. | text | 93 | monetaryItemType | text: <entity> 93 </entity> <entity type> monetaryItemType </entity type> <context> exposures, are involved in fewer hazardous waste sites and are lower tier defendants than policyholders presenting such claims in the past. Moreover, more efficient clean-up technologies have reduced clean-up costs in many instances depending on the remedy chosen at sites. However, the degree to which those favorable trends have continued has been less than anticipated. In addition, inflationary impacts on consulting and contractor costs, increased involvement of regulatory agencies and costs of their involvement, and the application of more stringent cleanup standards, including on emerging contaminants, has contributed to reserve development on existing environmental claims. Additionally, the costs associated with coverage litigation on environmental matters has been greater than anticipated, driven by claims and legal developments in a limited number of jurisdictions. As a result of these factors, in 2024, 2023 and 2022, the Company increased its net environmental reserves by $ 78 million, $ 93 million and $ 132 million, respectively. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
exposures, are involved in fewer hazardous waste sites and are lower tier defendants than policyholders presenting such claims in the past. Moreover, more efficient clean-up technologies have reduced clean-up costs in many instances depending on the remedy chosen at sites. However, the degree to which those favorable trends have continued has been less than anticipated. In addition, inflationary impacts on consulting and contractor costs, increased involvement of regulatory agencies and costs of their involvement, and the application of more stringent cleanup standards, including on emerging contaminants, has contributed to reserve development on existing environmental claims. Additionally, the costs associated with coverage litigation on environmental matters has been greater than anticipated, driven by claims and legal developments in a limited number of jurisdictions. As a result of these factors, in 2024, 2023 and 2022, the Company increased its net environmental reserves by $ 78 million, $ 93 million and $ 132 million, respectively. | text | 132 | monetaryItemType | text: <entity> 132 </entity> <entity type> monetaryItemType </entity type> <context> exposures, are involved in fewer hazardous waste sites and are lower tier defendants than policyholders presenting such claims in the past. Moreover, more efficient clean-up technologies have reduced clean-up costs in many instances depending on the remedy chosen at sites. However, the degree to which those favorable trends have continued has been less than anticipated. In addition, inflationary impacts on consulting and contractor costs, increased involvement of regulatory agencies and costs of their involvement, and the application of more stringent cleanup standards, including on emerging contaminants, has contributed to reserve development on existing environmental claims. Additionally, the costs associated with coverage litigation on environmental matters has been greater than anticipated, driven by claims and legal developments in a limited number of jurisdictions. As a result of these factors, in 2024, 2023 and 2022, the Company increased its net environmental reserves by $ 78 million, $ 93 million and $ 132 million, respectively. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. </context> | us-gaap:DebtInstrumentFaceAmount |
On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. | text | 5.45 | percentItemType | text: <entity> 5.45 </entity> <entity type> percentItemType </entity type> <context> On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. | text | 738 | monetaryItemType | text: <entity> 738 </entity> <entity type> monetaryItemType </entity type> <context> On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. </context> | us-gaap:ProceedsFromDebtNetOfIssuanceCosts |
On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. </context> | us-gaap:DebtInstrumentRedemptionPricePercentage |
—The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. | text | 800 | monetaryItemType | text: <entity> 800 </entity> <entity type> monetaryItemType </entity type> <context> —The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
—The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. | text | 4.59 | percentItemType | text: <entity> 4.59 </entity> <entity type> percentItemType </entity type> <context> —The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. </context> | us-gaap:LineOfCreditFacilityInterestRateDuringPeriod |
—The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. | text | 5.36 | percentItemType | text: <entity> 5.36 </entity> <entity type> percentItemType </entity type> <context> —The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. </context> | us-gaap:LineOfCreditFacilityInterestRateDuringPeriod |
—The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. | text | 4.29 | percentItemType | text: <entity> 4.29 </entity> <entity type> percentItemType </entity type> <context> —The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. </context> | us-gaap:LineOfCreditFacilityInterestRateDuringPeriod |
—The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. | text | 5.34 | percentItemType | text: <entity> 5.34 </entity> <entity type> percentItemType </entity type> <context> —The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. </context> | us-gaap:LineOfCreditFacilityInterestRateDuringPeriod |
The Travelers Companies, Inc. fully and unconditionally guarantees the payment of all principal, premiums, if any, and interest on certain debt obligations of its subsidiaries Travelers Property Casualty Corp. (TPC) and Travelers Insurance Group Holdings Inc. (TIGHI). The guarantees pertain to the $ 200 million 7.75 % notes due 2026 and the $ 500 million 6.375 % notes due 2033. | text | 7.75 | percentItemType | text: <entity> 7.75 </entity> <entity type> percentItemType </entity type> <context> The Travelers Companies, Inc. fully and unconditionally guarantees the payment of all principal, premiums, if any, and interest on certain debt obligations of its subsidiaries Travelers Property Casualty Corp. (TPC) and Travelers Insurance Group Holdings Inc. (TIGHI). The guarantees pertain to the $ 200 million 7.75 % notes due 2026 and the $ 500 million 6.375 % notes due 2033. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
The Travelers Companies, Inc. fully and unconditionally guarantees the payment of all principal, premiums, if any, and interest on certain debt obligations of its subsidiaries Travelers Property Casualty Corp. (TPC) and Travelers Insurance Group Holdings Inc. (TIGHI). The guarantees pertain to the $ 200 million 7.75 % notes due 2026 and the $ 500 million 6.375 % notes due 2033. | text | 6.375 | percentItemType | text: <entity> 6.375 </entity> <entity type> percentItemType </entity type> <context> The Travelers Companies, Inc. fully and unconditionally guarantees the payment of all principal, premiums, if any, and interest on certain debt obligations of its subsidiaries Travelers Property Casualty Corp. (TPC) and Travelers Insurance Group Holdings Inc. (TIGHI). The guarantees pertain to the $ 200 million 7.75 % notes due 2026 and the $ 500 million 6.375 % notes due 2033. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
—Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . | text | 0 | monetaryItemType | text: <entity> 0 </entity> <entity type> monetaryItemType </entity type> <context> —Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . </context> | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths |
—Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . | text | 200 | monetaryItemType | text: <entity> 200 </entity> <entity type> monetaryItemType </entity type> <context> —Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . </context> | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo |
—Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . | text | 125 | monetaryItemType | text: <entity> 125 </entity> <entity type> monetaryItemType </entity type> <context> —Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . </context> | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree |
—Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . | text | 0 | monetaryItemType | text: <entity> 0 </entity> <entity type> monetaryItemType </entity type> <context> —Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . </context> | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour |
—Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . | text | 0 | monetaryItemType | text: <entity> 0 </entity> <entity type> monetaryItemType </entity type> <context> —Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . </context> | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive |
On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. | text | 85 | percentItemType | text: <entity> 85 </entity> <entity type> percentItemType </entity type> <context> On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. | text | 147.5 | percentItemType | text: <entity> 147.5 </entity> <entity type> percentItemType </entity type> <context> On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. | text | 110 | percentItemType | text: <entity> 110 </entity> <entity type> percentItemType </entity type> <context> On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
The Company has uncollateralized letters of credit with an aggregate limit of $ 306 million at December 31, 2024, including $ 260 million that provides a portion of the capital needed to support the Company’s obligations at Lloyd’s. | text | 306 | monetaryItemType | text: <entity> 306 </entity> <entity type> monetaryItemType </entity type> <context> The Company has uncollateralized letters of credit with an aggregate limit of $ 306 million at December 31, 2024, including $ 260 million that provides a portion of the capital needed to support the Company’s obligations at Lloyd’s. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
The number of authorized shares of the Company is 1.755 billion, consisting of five million shares of preferred stock, 1.745 billion shares of voting common stock and five million undesignated shares. The Company’s Articles of Incorporation authorize the Board of Directors to establish, from the undesignated shares, one or more classes and series of shares, and to further designate the type of shares and terms thereof. | text | five million | sharesItemType | text: <entity> five million </entity> <entity type> sharesItemType </entity type> <context> The number of authorized shares of the Company is 1.755 billion, consisting of five million shares of preferred stock, 1.745 billion shares of voting common stock and five million undesignated shares. The Company’s Articles of Incorporation authorize the Board of Directors to establish, from the undesignated shares, one or more classes and series of shares, and to further designate the type of shares and terms thereof. </context> | us-gaap:PreferredStockSharesAuthorized |
The number of authorized shares of the Company is 1.755 billion, consisting of five million shares of preferred stock, 1.745 billion shares of voting common stock and five million undesignated shares. The Company’s Articles of Incorporation authorize the Board of Directors to establish, from the undesignated shares, one or more classes and series of shares, and to further designate the type of shares and terms thereof. | text | five million | sharesItemType | text: <entity> five million </entity> <entity type> sharesItemType </entity type> <context> The number of authorized shares of the Company is 1.755 billion, consisting of five million shares of preferred stock, 1.745 billion shares of voting common stock and five million undesignated shares. The Company’s Articles of Incorporation authorize the Board of Directors to establish, from the undesignated shares, one or more classes and series of shares, and to further designate the type of shares and terms thereof. </context> | us-gaap:ExcessStockSharesAuthorized |
The Company’s Articles of Incorporation provide authority to issue up to five million shares of preferred stock. | text | five million | sharesItemType | text: <entity> five million </entity> <entity type> sharesItemType </entity type> <context> The Company’s Articles of Incorporation provide authority to issue up to five million shares of preferred stock. </context> | us-gaap:PreferredStockSharesAuthorized |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.