2024 Q1 Form 10-K Financial Statement

#000127381324000007 Filed on February 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $245.0M $313.0M $1.373B
YoY Change -13.43% 21.32% 89.9%
Cost Of Revenue -$1.000M $162.0M
YoY Change -125.0% 912.5%
Gross Profit $246.0M $1.211B
YoY Change -11.83% 71.29%
Gross Profit Margin 100.41% 88.2%
Selling, General & Admin $58.00M $52.00M $251.0M
YoY Change -29.27% -24.64% -2.71%
% of Gross Profit 23.58% 20.73%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.000M $13.00M
YoY Change 100.0% -7.14%
% of Gross Profit 2.44% 1.07%
Operating Expenses $102.0M $105.0M $590.0M
YoY Change -13.56% -26.06% 62.98%
Operating Profit $144.0M $621.0M
YoY Change -10.56% 80.0%
Interest Expense $23.00M -$22.00M $90.00M
YoY Change 9.52% 144.44% 11.11%
% of Operating Profit 15.97% 14.49%
Other Income/Expense, Net
YoY Change
Pretax Income $144.0M $202.0M $668.0M
YoY Change 20.0% 104.04% 351.35%
Income Tax $31.00M -$177.0M -$93.00M
% Of Pretax Income 21.53% -87.62% -13.92%
Net Earnings $109.0M $376.0M $739.0M
YoY Change 34.57% 300.0% 495.97%
Net Earnings / Revenue 44.49% 120.13% 53.82%
Basic Earnings Per Share $1.94 $12.54
Diluted Earnings Per Share $1.89 $6.44 $12.30
COMMON SHARES
Basic Shares Outstanding 55.46M shares 57.26M shares 58.40M shares
Diluted Shares Outstanding 57.10M shares 59.60M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $137.0M $286.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $71.00M
YoY Change -29.0%
Goodwill $0.00
YoY Change -100.0%
Intangibles
YoY Change
Long-Term Investments $9.264B $9.481B $9.481B
YoY Change -32.38% -31.58% -31.58%
Other Assets $100.0M $28.00M $28.00M
YoY Change -55.95% 1300.0% 1300.0%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $12.17B $12.54B $12.54B
YoY Change -27.48% -25.55% -25.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $87.00M
YoY Change -13.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $87.00M
YoY Change -13.0%
LONG-TERM LIABILITIES
Long-Term Debt $1.695B $1.694B $1.694B
YoY Change 1.13% 1.13% 1.13%
Other Long-Term Liabilities $872.0M $1.046B $959.0M
YoY Change -84.87% -82.45% -83.63%
Total Long-Term Liabilities $2.567B $2.740B $2.653B
YoY Change -65.5% -64.11% -64.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $87.00M
Total Long-Term Liabilities $2.567B $2.740B $2.653B
Total Liabilities $6.486B $6.774B $6.826B
YoY Change -42.92% -41.36% -42.05%
SHAREHOLDERS EQUITY
Retained Earnings $6.014B $6.070B
YoY Change 6.67% 8.84%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.629B $5.713B $5.713B
YoY Change
Total Liabilities & Shareholders Equity $12.17B $12.54B $12.54B
YoY Change -27.48% -25.55% -25.55%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $109.0M $376.0M $739.0M
YoY Change 34.57% 300.0% 495.97%
Depreciation, Depletion And Amortization $6.000M $13.00M
YoY Change 100.0% -7.14%
Cash From Operating Activities -$74.00M $203.0M $461.0M
YoY Change -123.72% -132.17% -118.6%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $1.000M $103.0M $3.000M
YoY Change 0.0% -83.17% 0.0%
Cash From Investing Activities $253.0M $103.0M $286.0M
YoY Change -369.15% -83.17% -83.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $199.0M
YoY Change -60.2%
Debt Paid & Issued, Net $330.0M
YoY Change 16400.0%
Cash From Financing Activities -$327.0M -137.0M -$670.0M
YoY Change 10.47% 218.6% -209.48%
NET CHANGE
Cash From Operating Activities -$74.00M 203.0M $461.0M
Cash From Investing Activities $253.0M 103.0M $286.0M
Cash From Financing Activities -$327.0M -137.0M -$670.0M
Net Change In Cash -$149.0M 169.0M $79.00M
YoY Change 93.51% -372.58% -158.52%
FREE CASH FLOW
Cash From Operating Activities -$74.00M $203.0M $461.0M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2021 ago Guarantor Obligations Net Expected Loss Development After Recoveriesfor Representationsand Warranties
GuarantorObligationsNetExpectedLossDevelopmentAfterRecoveriesforRepresentationsandWarranties
-287000000 usd
CY2021 ago Guarantor Obligations Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid After Recoveriesfor Representationsand Warranties
GuarantorObligationsLiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidAfterRecoveriesforRepresentationsandWarranties
-169000000 usd
CY2021Q4 ago Guarantor Obligations Net Expected Losstobe Paid After Recoveriesfor Representationsand Warranties
GuarantorObligationsNetExpectedLosstobePaidAfterRecoveriesforRepresentationsandWarranties
411000000 usd
CY2023 ago Reinsurance Recoverables Periodafter Endof Reporting Periodfor Settlementof Ceded Paid Losses
ReinsuranceRecoverablesPeriodafterEndofReportingPeriodforSettlementofCededPaidLosses
P45D
CY2023 ago Insured Financial Obligations Liabilityfor Unpaid Claims Adjustment Expense Claims Paid
InsuredFinancialObligationsLiabilityforUnpaidClaimsAdjustmentExpenseClaimsPaid
25000000 usd
CY2022 ago Insured Financial Obligations Liabilityfor Unpaid Claims Adjustment Expense Claims Paid
InsuredFinancialObligationsLiabilityforUnpaidClaimsAdjustmentExpenseClaimsPaid
33000000 usd
CY2021 ago Insured Financial Obligations Liabilityfor Unpaid Claims Adjustment Expense Claims Paid
InsuredFinancialObligationsLiabilityforUnpaidClaimsAdjustmentExpenseClaimsPaid
36000000 usd
CY2023Q4 ago Expected Loss Adjustment Expense To Be Paid
ExpectedLossAdjustmentExpenseToBePaid
22000000 usd
CY2022Q4 ago Expected Loss Adjustment Expense To Be Paid
ExpectedLossAdjustmentExpenseToBePaid
11000000 usd
CY2023 ago Guarantor Obligations Projected Loss Assumptions Numberof Scenarios Considered
GuarantorObligationsProjectedLossAssumptionsNumberofScenariosConsidered
5 scenario
CY2022 ago Guarantor Obligations Projected Loss Assumptions Numberof Scenarios Considered
GuarantorObligationsProjectedLossAssumptionsNumberofScenariosConsidered
5 scenario
CY2023 ago Additional Loss Recovery Assumption Recovery Period
AdditionalLossRecoveryAssumptionRecoveryPeriod
P5Y
CY2023 ago Financial Guarantee Insurance Contracts Scheduled Net Earned Premiums
FinancialGuaranteeInsuranceContractsScheduledNetEarnedPremiums
285000000 usd
CY2022 ago Financial Guarantee Insurance Contracts Scheduled Net Earned Premiums
FinancialGuaranteeInsuranceContractsScheduledNetEarnedPremiums
287000000 usd
CY2021 ago Financial Guarantee Insurance Contracts Scheduled Net Earned Premiums
FinancialGuaranteeInsuranceContractsScheduledNetEarnedPremiums
322000000 usd
CY2023 us-gaap Financial Guarantee Insurance Contracts Accelerated Premium Revenue Amount
FinancialGuaranteeInsuranceContractsAcceleratedPremiumRevenueAmount
29000000 usd
CY2022 us-gaap Financial Guarantee Insurance Contracts Accelerated Premium Revenue Amount
FinancialGuaranteeInsuranceContractsAcceleratedPremiumRevenueAmount
179000000 usd
CY2021 us-gaap Financial Guarantee Insurance Contracts Accelerated Premium Revenue Amount
FinancialGuaranteeInsuranceContractsAcceleratedPremiumRevenueAmount
59000000 usd
CY2023 ago Financial Guarantee Insurance Contracts Net Premiums Receivable Adjustment Accretionof Discounton Net Premium Receivable
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-26000000 usd
CY2022 ago Financial Guarantee Insurance Contracts Net Premiums Receivable Adjustment Accretionof Discounton Net Premium Receivable
FinancialGuaranteeInsuranceContractsNetPremiumsReceivableAdjustmentAccretionofDiscountonNetPremiumReceivable
-24000000 usd
CY2021 ago Financial Guarantee Insurance Contracts Net Premiums Receivable Adjustment Accretionof Discounton Net Premium Receivable
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-30000000 usd
CY2023 ago Financial Guarantee Insurance Contracts Premiums Earned Net
FinancialGuaranteeInsuranceContractsPremiumsEarnedNet
340000000 usd
CY2022 ago Financial Guarantee Insurance Contracts Premiums Earned Net
FinancialGuaranteeInsuranceContractsPremiumsEarnedNet
490000000 usd
CY2021 ago Financial Guarantee Insurance Contracts Premiums Earned Net
FinancialGuaranteeInsuranceContractsPremiumsEarnedNet
411000000 usd
CY2023 ago Premiums Earned Net Specialty Insuranceand Reinsurance
PremiumsEarnedNetSpecialtyInsuranceandReinsurance
4000000 usd
CY2022 ago Premiums Earned Net Specialty Insuranceand Reinsurance
PremiumsEarnedNetSpecialtyInsuranceandReinsurance
4000000 usd
CY2021 ago Premiums Earned Net Specialty Insuranceand Reinsurance
PremiumsEarnedNetSpecialtyInsuranceandReinsurance
3000000 usd
CY2023 us-gaap Premiums Earned Net
PremiumsEarnedNet
344000000 usd
CY2022 us-gaap Premiums Earned Net
PremiumsEarnedNet
494000000 usd
CY2021 us-gaap Premiums Earned Net
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414000000 usd
CY2022Q4 us-gaap Financial Guarantee Insurance Contracts Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumReceivable
1298000000 usd
CY2021Q4 us-gaap Financial Guarantee Insurance Contracts Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumReceivable
1372000000 usd
CY2020Q4 us-gaap Financial Guarantee Insurance Contracts Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumReceivable
1372000000 usd
CY2022Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Specialty Insurance
FinancialGuaranteeInsuranceContractsPremiumReceivableSpecialtyInsurance
1000000 usd
CY2021Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Specialty Insurance
FinancialGuaranteeInsuranceContractsPremiumReceivableSpecialtyInsurance
1000000 usd
CY2020Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Specialty Insurance
FinancialGuaranteeInsuranceContractsPremiumReceivableSpecialtyInsurance
1000000 usd
CY2022Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Excluding Other
FinancialGuaranteeInsuranceContractsPremiumReceivableExcludingOther
1297000000 usd
CY2021Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Excluding Other
FinancialGuaranteeInsuranceContractsPremiumReceivableExcludingOther
1371000000 usd
CY2020Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Excluding Other
FinancialGuaranteeInsuranceContractsPremiumReceivableExcludingOther
1371000000 usd
CY2023 us-gaap Financial Guarantee Insurance Contracts Premium Receivable New Business Written
FinancialGuaranteeInsuranceContractsPremiumReceivableNewBusinessWritten
353000000 usd
CY2022 us-gaap Financial Guarantee Insurance Contracts Premium Receivable New Business Written
FinancialGuaranteeInsuranceContractsPremiumReceivableNewBusinessWritten
356000000 usd
CY2021 us-gaap Financial Guarantee Insurance Contracts Premium Receivable New Business Written
FinancialGuaranteeInsuranceContractsPremiumReceivableNewBusinessWritten
369000000 usd
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FinancialGuaranteeInsuranceContractsPremiumReceivableProceedsFromPremiumsReceived
261000000 usd
CY2022 us-gaap Financial Guarantee Insurance Contracts Premium Receivable Proceeds From Premiums Received
FinancialGuaranteeInsuranceContractsPremiumReceivableProceedsFromPremiumsReceived
345000000 usd
CY2021 us-gaap Financial Guarantee Insurance Contracts Premium Receivable Proceeds From Premiums Received
FinancialGuaranteeInsuranceContractsPremiumReceivableProceedsFromPremiumsReceived
383000000 usd
CY2023 us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Change In Period Of Contract
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentChangeInPeriodOfContract
1000000 usd
CY2022 us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Change In Period Of Contract
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentChangeInPeriodOfContract
2000000 usd
CY2021 us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Change In Period Of Contract
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentChangeInPeriodOfContract
6000000 usd
CY2023 us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Accretion Of Discount On Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumsReceivableAccretionOfDiscountOnPremiumReceivable
26000000 usd
CY2022 us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Accretion Of Discount On Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumsReceivableAccretionOfDiscountOnPremiumReceivable
24000000 usd
CY2021 us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Accretion Of Discount On Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumsReceivableAccretionOfDiscountOnPremiumReceivable
26000000 usd
CY2023 ago Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Foreign Exchange Translation
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentForeignExchangeTranslation
51000000 usd
CY2022 ago Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Foreign Exchange Translation
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentForeignExchangeTranslation
-111000000 usd
CY2021 ago Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Foreign Exchange Translation
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentForeignExchangeTranslation
-22000000 usd
CY2023 us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Adjustment
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustment
0 usd
CY2022 us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Adjustment
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustment
0 usd
CY2021 us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Adjustment
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustment
4000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Excluding Other
FinancialGuaranteeInsuranceContractsPremiumReceivableExcludingOther
1467000000 usd
CY2022Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Excluding Other
FinancialGuaranteeInsuranceContractsPremiumReceivableExcludingOther
1297000000 usd
CY2021Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Excluding Other
FinancialGuaranteeInsuranceContractsPremiumReceivableExcludingOther
1371000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Specialty Insurance
FinancialGuaranteeInsuranceContractsPremiumReceivableSpecialtyInsurance
1000000 usd
CY2022Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Specialty Insurance
FinancialGuaranteeInsuranceContractsPremiumReceivableSpecialtyInsurance
1000000 usd
CY2021Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Specialty Insurance
FinancialGuaranteeInsuranceContractsPremiumReceivableSpecialtyInsurance
1000000 usd
CY2023Q4 us-gaap Financial Guarantee Insurance Contracts Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumReceivable
1468000000 usd
CY2022Q4 us-gaap Financial Guarantee Insurance Contracts Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumReceivable
1298000000 usd
CY2021Q4 us-gaap Financial Guarantee Insurance Contracts Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumReceivable
1372000000 usd
CY2022Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
147000000 usd
CY2021Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
131000000 usd
CY2020Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
119000000 usd
CY2023 us-gaap Deferred Policy Acquisition Costs Additions
DeferredPolicyAcquisitionCostsAdditions
27000000 usd
CY2022 us-gaap Deferred Policy Acquisition Costs Additions
DeferredPolicyAcquisitionCostsAdditions
30000000 usd
CY2021 us-gaap Deferred Policy Acquisition Costs Additions
DeferredPolicyAcquisitionCostsAdditions
26000000 usd
CY2023 ago Deferred Policy Acquisition Cost Amortization Expense Including Accretion Of Discount On Commissions
DeferredPolicyAcquisitionCostAmortizationExpenseIncludingAccretionOfDiscountOnCommissions
13000000 usd
CY2022 ago Deferred Policy Acquisition Cost Amortization Expense Including Accretion Of Discount On Commissions
DeferredPolicyAcquisitionCostAmortizationExpenseIncludingAccretionOfDiscountOnCommissions
14000000 usd
CY2021 ago Deferred Policy Acquisition Cost Amortization Expense Including Accretion Of Discount On Commissions
DeferredPolicyAcquisitionCostAmortizationExpenseIncludingAccretionOfDiscountOnCommissions
14000000 usd
CY2023Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
161000000 usd
CY2022Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
147000000 usd
CY2021Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
131000000 usd
CY2023 us-gaap Financial Guarantee Insurance Contracts Claim Liability Weighted Average Risk Free Discount Rate
FinancialGuaranteeInsuranceContractsClaimLiabilityWeightedAverageRiskFreeDiscountRate
0.0417
CY2022 us-gaap Financial Guarantee Insurance Contracts Claim Liability Weighted Average Risk Free Discount Rate
FinancialGuaranteeInsuranceContractsClaimLiabilityWeightedAverageRiskFreeDiscountRate
0.0415
CY2023Q4 ago Reserve For Losses And Loss Adjustment Expenses Net Of Reinsurance And Salvage And Subrogation Recoveries
ReserveForLossesAndLossAdjustmentExpensesNetOfReinsuranceAndSalvageAndSubrogationRecoveries
75000000 usd
CY2022Q4 ago Reserve For Losses And Loss Adjustment Expenses Net Of Reinsurance And Salvage And Subrogation Recoveries
ReserveForLossesAndLossAdjustmentExpensesNetOfReinsuranceAndSalvageAndSubrogationRecoveries
37000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensed During First Quarter Following Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedDuringFirstQuarterFollowingBalanceSheetDate
3000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensed During Second Quarter Following Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedDuringSecondQuarterFollowingBalanceSheetDate
3000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensed During Third Quarter Following Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedDuringThirdQuarterFollowingBalanceSheetDate
3000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensed During Fourth Quarter Following Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedDuringFourthQuarterFollowingBalanceSheetDate
3000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensed During Fiscal Year Following Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedDuringFiscalYearFollowingBalanceSheetDate
12000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensedin Second Full Fiscal Year
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedinSecondFullFiscalYear
12000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensedin Third Full Fiscal Year
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedinThirdFullFiscalYear
16000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensedin Fourth Full Fiscal Year
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedinFourthFullFiscalYear
16000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensedin Fifth Full Fiscal Year
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedinFifthFullFiscalYear
15000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensed Morethan Fiveand Within10 Yearsfrom Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedMorethanFiveandWithin10YearsfromBalanceSheetDate
69000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensed Morethan10andwithin15 Yearsfrom Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedMorethan10andwithin15YearsfromBalanceSheetDate
48000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensed Morethan15andwithin20 Yearsfrom Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedMorethan15andwithin20YearsfromBalanceSheetDate
11000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensed Beyond Twentieth Fiscal Year
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedBeyondTwentiethFiscalYear
11000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Net Losstobe Expensed Present Value
FinancialGuaranteeInsuranceContractsNetLosstobeExpensedPresentValue
210000000 usd
CY2023Q4 ago Scheduleof Insured Financial Obligationswith Credit Deterioration Reductionsof Gross Claim Liability Netof Reinsurance Recoverable Discount
ScheduleofInsuredFinancialObligationswithCreditDeteriorationReductionsofGrossClaimLiabilityNetofReinsuranceRecoverableDiscount
19000000 usd
CY2023Q4 ago Financial Guarantee Insurance Contracts Net Losstobe Expensed Undiscounted
FinancialGuaranteeInsuranceContractsNetLosstobeExpensedUndiscounted
229000000 usd
CY2023 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
162000000 usd
CY2022 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
16000000 usd
CY2021 us-gaap Policyholder Benefits And Claims Incurred Net
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-220000000 usd
CY2023Q4 ago Insured Financial Obligations Insured Contractual Payments Outstanding Gross
InsuredFinancialObligationsInsuredContractualPaymentsOutstandingGross
398000000000 usd
CY2023Q4 ago Specialty Insuranceand Reinsurance Gross Par
SpecialtyInsuranceandReinsuranceGrossPar
3800000000 usd
CY2023 us-gaap Direct Premiums Written
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307000000 usd
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DirectPremiumsWritten
377000000 usd
CY2021 us-gaap Direct Premiums Written
DirectPremiumsWritten
355000000 usd
CY2023 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
50000000 usd
CY2022 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
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CY2021 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
22000000 usd
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CededPremiumsWritten
16000000 usd
CY2022 us-gaap Ceded Premiums Written
CededPremiumsWritten
0 usd
CY2021 us-gaap Ceded Premiums Written
CededPremiumsWritten
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CY2023 us-gaap Premiums Written Net
PremiumsWrittenNet
341000000 usd
CY2022 us-gaap Premiums Written Net
PremiumsWrittenNet
360000000 usd
CY2021 us-gaap Premiums Written Net
PremiumsWrittenNet
377000000 usd
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DirectPremiumsEarned
319000000 usd
CY2022 us-gaap Direct Premiums Earned
DirectPremiumsEarned
469000000 usd
CY2021 us-gaap Direct Premiums Earned
DirectPremiumsEarned
385000000 usd
CY2023 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
28000000 usd
CY2022 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
28000000 usd
CY2021 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
32000000 usd
CY2023 us-gaap Ceded Premiums Earned
CededPremiumsEarned
3000000 usd
CY2022 us-gaap Ceded Premiums Earned
CededPremiumsEarned
3000000 usd
CY2021 us-gaap Ceded Premiums Earned
CededPremiumsEarned
3000000 usd
CY2023 us-gaap Premiums Earned Net
PremiumsEarnedNet
344000000 usd
CY2022 us-gaap Premiums Earned Net
PremiumsEarnedNet
494000000 usd
CY2021 us-gaap Premiums Earned Net
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414000000 usd
CY2023 ago Policyholder Benefits And Claims Expense Benefit Direct
PolicyholderBenefitsAndClaimsExpenseBenefitDirect
157000000 usd
CY2022 ago Policyholder Benefits And Claims Expense Benefit Direct
PolicyholderBenefitsAndClaimsExpenseBenefitDirect
32000000 usd
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PolicyholderBenefitsAndClaimsExpenseBenefitDirect
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CY2023 ago Policyholder Benefits And Claims Incurred Assumed Benefit Loss
PolicyholderBenefitsAndClaimsIncurredAssumedBenefitLoss
8000000 usd
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PolicyholderBenefitsAndClaimsIncurredAssumedBenefitLoss
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PolicyholderBenefitsAndClaimsIncurredAssumedBenefitLoss
5000000 usd
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PolicyholderBenefitsAndClaimsIncurredCededBenefitLoss
3000000 usd
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PolicyholderBenefitsAndClaimsIncurredCededBenefitLoss
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22000000 usd
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PolicyholderBenefitsAndClaimsIncurredNet
162000000 usd
CY2022 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
16000000 usd
CY2021 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
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CY2023 us-gaap Average Term Of Credit Risk Derivatives1
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P11Y1M6D
CY2022 us-gaap Average Term Of Credit Risk Derivatives1
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P12Y9M18D
CY2023Q4 ago Financial Guaranty Contracts Accountedforas Credit Derivatives Outstanding Principal Amount
FinancialGuarantyContractsAccountedforasCreditDerivativesOutstandingPrincipalAmount
3608000000 usd
CY2023Q4 us-gaap Credit Risk Derivatives At Fair Value Net
CreditRiskDerivativesAtFairValueNet
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CY2022Q4 ago Financial Guaranty Contracts Accountedforas Credit Derivatives Outstanding Principal Amount
FinancialGuarantyContractsAccountedforasCreditDerivativesOutstandingPrincipalAmount
3203000000 usd
CY2022Q4 us-gaap Credit Risk Derivatives At Fair Value Net
CreditRiskDerivativesAtFairValueNet
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2000000 usd
CY2022Q4 ago Expected Losson Credit Derivativeto Be Paid Recovered Including Representationand Warranty Liability Benefit
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3000000 usd
CY2023 ago Credit Derivative Realized Gain Lossand Other Settlements
CreditDerivativeRealizedGainLossandOtherSettlements
2000000 usd
CY2022 ago Credit Derivative Realized Gain Lossand Other Settlements
CreditDerivativeRealizedGainLossandOtherSettlements
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CreditDerivativeRealizedGainLossandOtherSettlements
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UnrealizedGainLossOnDerivatives
112000000 usd
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CY2021 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
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CY2023 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
114000000 usd
CY2022 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-11000000 usd
CY2021 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-58000000 usd
CY2023Q4 ago Credit Risk Derivatives At Fair Value Before Effect Of Credit Spread Net
CreditRiskDerivativesAtFairValueBeforeEffectOfCreditSpreadNet
-76000000 usd
CY2022Q4 ago Credit Risk Derivatives At Fair Value Before Effect Of Credit Spread Net
CreditRiskDerivativesAtFairValueBeforeEffectOfCreditSpreadNet
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CY2023Q4 us-gaap Derivative Credit Risk Valuation Adjustment Derivative Liabilities
DerivativeCreditRiskValuationAdjustmentDerivativeLiabilities
26000000 usd
CY2022Q4 us-gaap Derivative Credit Risk Valuation Adjustment Derivative Liabilities
DerivativeCreditRiskValuationAdjustmentDerivativeLiabilities
45000000 usd
CY2023Q4 us-gaap Credit Risk Derivatives At Fair Value Net
CreditRiskDerivativesAtFairValueNet
-50000000 usd
CY2022Q4 us-gaap Credit Risk Derivatives At Fair Value Net
CreditRiskDerivativesAtFairValueNet
-162000000 usd
CY2023 ago Numberof Outside Managers Managing Investment Portfolio
NumberofOutsideManagersManagingInvestmentPortfolio
3 manager
CY2023Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
318000000 usd
CY2022Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
303000000 usd
CY2023Q4 us-gaap Short Term Investments
ShortTermInvestments
1661000000 usd
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
810000000 usd
CY2023Q4 us-gaap Investments
Investments
9115000000 usd
CY2022Q4 us-gaap Investments
Investments
8365000000 usd
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InvestmentsAccountedForAsConsolidatedInvestmentVehicles
3 fund
CY2023 ago Total Number Of Investments
TotalNumberOfInvestments
8 fund
CY2022Q4 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
71000000 usd
CY2023Q4 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
71000000 usd
CY2023Q4 ago Percentageof Availableforsale Securitiesat Amortized Cost
PercentageofAvailableforsaleSecuritiesatAmortizedCost
1
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
6746000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
77000000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
55000000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
417000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
6307000000 usd
CY2022Q4 ago Percentageof Availableforsale Securitiesat Amortized Cost
PercentageofAvailableforsaleSecuritiesatAmortizedCost
1
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
7707000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
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