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Consolidated Statements Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES:        
Net premiums written $ 3,126,779 $ 2,811,515 $ 5,978,070 $ 5,386,339
Change in net unearned premiums (280,364) (258,788) (367,308) (342,180)
Net premiums earned 2,846,415 2,552,727 5,610,762 5,044,159
Net investment income 372,129 245,152 691,967 468,551
Net realized and unrealized (losses) gains on investments (60,306) 68,647 (48,803) 91,258
Change in allowance for expected credit losses on investments 1,794 (9,993) 16,070 (9,594)
Net investment (losses) gains (58,512) 58,654 (32,733) 81,664
Revenues from non-insurance businesses 125,705 113,910 246,696 238,110
Insurance service fees 27,597 25,471 52,917 58,328
Other income 698 0 1,196 106
Total revenues 3,314,032 2,995,914 6,570,805 5,890,918
OPERATING COSTS AND EXPENSES:        
Losses and loss expenses 1,780,596 1,569,654 3,444,374 3,108,409
Other operating costs and expenses 892,935 823,682 1,761,524 1,649,255
Expenses from non-insurance businesses 121,120 113,538 239,727 236,306
Interest expense 31,708 31,856 63,436 63,692
Total operating costs and expenses 2,826,359 2,538,730 5,509,061 5,057,662
Income before income taxes 487,673 457,184 1,061,744 833,256
Income tax expense (115,788) (101,460) (247,824) (181,803)
Net income before noncontrolling interests 371,885 355,724 813,920 651,453
Noncontrolling interests 24 584 460 (1,019)
Net income to common stockholders $ 371,909 $ 356,308 $ 814,380 $ 650,434
NET INCOME PER SHARE:        
Basic (in dollar per share) $ 0.93 $ 0.88 $ 2.03 $ 1.59
Diluted (in dollar per share) $ 0.92 $ 0.87 $ 2.01 $ 1.58