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Unaudited Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues    
Net premiums earned $ 2,120,633 $ 1,948,422
Net investment income 80,436 98,856
Net realized gains (losses) (292,414) 142,461
Other underwriting income 5,897 6,110
Equity in net income (loss) of investment funds accounted for using the equity method 36,305 71,686
Other income (loss) (9,025) (1,741)
Total revenues 1,941,832 2,265,794
Expenses    
Losses and loss adjustment expenses 1,000,835 1,203,100
Acquisition expenses 378,159 304,481
Other operating expenses 289,943 261,033
Corporate expenses 32,332 25,384
Amortization of intangible assets 27,167 14,402
Interest expense 32,708 38,346
Net foreign exchange (gains) losses (3,845) (20,063)
Total expenses 1,757,299 1,826,683
Income (loss) before income taxes and income (loss) from operating affiliates 184,533 439,111
Income tax expense (11,619) (38,860)
Income (loss) from operating affiliates 24,518 75,457
Net income (loss) 197,432 475,708
Net (income) loss attributable to noncontrolling interests (1,632) (37,552)
Net income (loss) available to Arch 195,800 438,156
Preferred dividends (10,184) (10,403)
Net income (loss) available to Arch common shareholders $ 185,616 $ 427,753
Net income per common share and common share equivalent    
Basic (per share) $ 0.50 $ 1.07
Diluted (per share) $ 0.48 $ 1.05
Weighted average common shares and common share equivalents outstanding    
Basic (shares) 374,243,812 400,807,895
Diluted (shares) 384,194,363 409,223,253