Incurred losses and allocated loss adjustment expenses, net of reinsurance

Breakdown

Segment	Q4 '21	Q4 '22	Q4 '23	Q4 '24	Q4 '25
Specialty	62,800,000,000%	96,200,000,000%	130,300,000,000%	169,600,000,000%	856,400,000,000%
Casualty	44,400,000,000%	55,200,000,000%	66,400,000,000%	73,400,000,000%	521,000,000,000%
Property excluding property catastrophe	54,600,000,000%	74,500,000,000%	83,900,000,000%	121,200,000,000%	515,000,000,000%
Property catastrophe	33,700,000,000%	34,100,000,000%	33,000,000,000%	51,200,000,000%	198,000,000,000%
Marine and aviation	11,000,000,000%	12,600,000,000%	16,100,000,000%	23,300,000,000%	104,100,000,000%
Total	—	—	—	—	—

Property, energy, marine and aviationView metric

Third party occurrence businessView metric

Third party claims-made businessView metric

Multi-line and other specialtyView metric

Property catastropheView metric

Property excluding property catastropheView metric

Marine and aviationView metric