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Unaudited Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Net premiums earned $ 1,929,337 $ 1,771,092 $ 5,998,668 $ 5,180,890
Net investment income 88,195 128,512 298,664 405,150
Net realized gains (losses) (25,040) 280,499 320,328 470,127
Other underwriting income 7,274 5,413 18,913 18,932
Equity in net income (loss) of investment funds accounted for using the equity method 105,398 126,735 299,270 57,407
Other income (loss) (3,960) 0 1,151 65
Total revenues 2,101,204 2,312,251 6,936,994 6,132,571
Expenses        
Losses and loss adjustment expenses 1,226,019 1,216,273 3,588,950 3,562,214
Acquisition expenses 306,015 247,942 945,639 750,014
Other operating expenses 230,832 215,686 736,808 659,479
Corporate expenses 19,672 17,937 61,007 56,653
Amortization of intangible assets 20,135 16,715 49,823 49,835
Interest expense 33,176 41,343 107,222 105,037
Net foreign exchange (gains) losses (36,078) 44,885 (38,366) 11,425
Total expenses 1,799,771 1,800,781 5,451,083 5,194,657
Income (loss) before income taxes and income (loss) from operating affiliates 301,433 511,470 1,485,911 937,914
Income tax expense (4,137) (23,707) (94,176) (77,779)
Income (loss) from operating affiliates 124,119 919 224,052 6,262
Net income (loss) 421,415 488,682 1,615,787 866,397
Net (income) loss attributable to noncontrolling interests (1,473) (69,643) (82,203) (4,420)
Net income (loss) available to Arch 419,942 419,039 1,533,584 861,977
Preferred dividends (16,090) (10,403) (38,159) (31,209)
Loss on redemption of preferred shares (15,101) 0 (15,101) 0
Net income (loss) available to Arch common shareholders $ 388,751 $ 408,636 $ 1,480,324 $ 830,768
Net income per common share and common share equivalent        
Basic (per share) $ 1.00 $ 1.01 $ 3.74 $ 2.06
Diluted (per share) $ 0.98 $ 1.00 $ 3.66 $ 2.02
Weighted average common shares and common share equivalents outstanding        
Basic (shares) 389,274,220 402,850,485 395,899,591 403,081,266
Diluted (shares) 397,903,347 409,194,657 404,260,485 410,314,897