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Industry Segments (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Financial Information Of Company Operating Segments | Summary financial information about the Company’s reporting segments is presented in the following table. Income before income taxes by segment includes allocated investment income. Identifiable assets by segment are those assets used in or allocated to the operation of each segment.
| Revenues |  | Expenses |  |  |  |
(In thousands) | Earned Premiums (1) |  | Investment Income |  | Other |  | Total (2) |  | Losses and Loss Expenses |  | Policy Acquisition and Insurance Operating Expenses |  | Other |  | Total |  | Pre-Tax Income (Loss) |  | Net Income (Loss) to Common Stockholders
Year ended December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Insurance | $ | 10,086,308 |  |  | $ | 1,057,738 |  |  | $ | 37,455 |  |  | $ | 11,181,501 |  |  | $ | 6,332,490 |  |  | $ | 2,863,697 |  |  | $ | 43,231 |  |  | $ | 9,239,418 |  |  | $ | 1,942,083 |  |  | $ | 1,503,875 |
Reinsurance & Monoline Excess | 1,462,177 |  |  | 234,728 |  |  | — |  |  | 1,696,905 |  |  | 799,105 |  |  | 431,205 |  |  | — |  |  | 1,230,310 |  |  | 466,595 |  |  | 367,569 |
Corporate, other and eliminations (3) | — |  |  | 40,695 |  |  | 601,943 |  |  | 642,638 |  |  | — |  |  | — |  |  | 904,531 |  |  | 904,531 |  |  | (261,893) |  |  | (203,832) |
Net investment gains | — |  |  | — |  |  | 117,708 |  |  | 117,708 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 117,708 |  |  | 88,503 |
Consolidated | $ | 11,548,485 |  |  | $ | 1,333,161 |  |  | $ | 757,106 |  |  | $ | 13,638,752 |  |  | $ | 7,131,595 |  |  | $ | 3,294,902 |  |  | $ | 947,762 |  |  | $ | 11,374,259 |  |  | $ | 2,264,493 |  |  | $ | 1,756,115 |
Year ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Insurance | $ | 9,007,376 |  |  | $ | 783,660 |  |  | $ | 36,830 |  |  | $ | 9,827,866 |  |  | $ | 5,615,526 |  |  | $ | 2,545,310 |  |  | $ | 37,112 |  |  | $ | 8,197,948 |  |  | $ | 1,629,918 |  |  | $ | 1,283,281 |
Reinsurance & Monoline Excess | 1,393,311 |  |  | 221,966 |  |  | — |  |  | 1,615,277 |  |  | 756,616 |  |  | 409,376 |  |  | — |  |  | 1,165,992 |  |  | 449,285 |  |  | 355,155 |
Corporate, other and eliminations (3) | — |  |  | 47,209 |  |  | 605,544 |  |  | 652,753 |  |  | — |  |  | — |  |  | 1,024,595 |  |  | 1,024,595 |  |  | (371,842) |  |  | (293,869) |
Net investment gains | — |  |  | — |  |  | 47,042 |  |  | 47,042 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 47,042 |  |  | 36,792 |
Consolidated | $ | 10,400,687 |  |  | $ | 1,052,835 |  |  | $ | 689,416 |  |  | $ | 12,142,938 |  |  | $ | 6,372,142 |  |  | $ | 2,954,686 |  |  | $ | 1,061,707 |  |  | $ | 10,388,535 |  |  | $ | 1,754,403 |  |  | $ | 1,381,359 |
Year ended December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Insurance | $ | 8,171,828 |  |  | $ | 543,844 |  |  | $ | 33,347 |  |  | $ | 8,749,019 |  |  | $ | 5,013,614 |  |  | $ | 2,268,649 |  |  | $ | 31,294 |  |  | $ | 7,313,557 |  |  | $ | 1,435,462 |  |  | $ | 1,153,231 |
Reinsurance & Monoline Excess | 1,389,601 |  |  | 200,512 |  |  | — |  |  | 1,590,113 |  |  | 848,136 |  |  | 405,254 |  |  | — |  |  | 1,253,390 |  |  | 336,723 |  |  | 271,580 |
Corporate, other and eliminations (3) | — |  |  | 34,829 |  |  | 590,141 |  |  | 624,970 |  |  | — |  |  | — |  |  | 879,871 |  |  | 879,871 |  |  | (254,901) |  |  | (203,476) |
Net investment gains | — |  |  | — |  |  | 202,397 |  |  | 202,397 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 202,397 |  |  | 159,727 |
Consolidated | $ | 9,561,429 |  |  | $ | 779,185 |  |  | $ | 825,885 |  |  | $ | 11,166,499 |  |  | $ | 5,861,750 |  |  | $ | 2,673,903 |  |  | $ | 911,165 |  |  | $ | 9,446,818 |  |  | $ | 1,719,681 |  |  | $ | 1,381,062 |
Identifiable Assets by Segments |
Identifiable Assets
(In thousands) | December 31,
| 2024 |  | 2023
Insurance | $ | 33,030,140 |  |  | $ | 29,976,619 |
Reinsurance & Monoline Excess | 5,669,729 |  |  | 5,545,249 |
Corporate, other and eliminations (3) | 1,867,399 |  |  | 1,680,147 |
Consolidated | $ | 40,567,268 |  |  | $ | 37,202,015 |
_______________________________________ (1) Certain amounts included in earned premiums of each segment are related to inter-segment transactions. (2) Revenues for Insurance includes $1,471 million, $1,171 million, and $1,029 million in 2024, 2023 and 2022, respectively, from foreign countries. Revenues for Reinsurance & Monoline Excess includes $485 million, $463 million, and $412 million in 2024, 2023 and 2022, respectively, from foreign countries. (3) Corporate, other and eliminations represent corporate revenues and expenses and certain other items that are not allocated to business segments.
Net Premiums Earned By Major Line Of Business | Net premiums earned by major line of business were as follows:
(In thousands) |  | 2024 |  | 2023 |  | 2022
Insurance |  |  |  |  |  |
Other liability |  | $ | 4,068,662 |  |  | $ | 3,605,298 |  |  | $ | 3,188,399 |
Short-tail lines (1) |  | 2,201,661 |  |  | 1,825,027 |  |  | 1,562,122 |
Auto |  | 1,481,569 |  |  | 1,270,907 |  |  | 1,097,704 |
Workers' compensation |  | 1,237,888 |  |  | 1,212,294 |  |  | 1,197,810 |
Professional liability |  | 1,096,528 |  |  | 1,093,850 |  |  | 1,125,793 |
Total Insurance |  | 10,086,308 |  |  | 9,007,376 |  |  | 8,171,828 |
Reinsurance & Monoline Excess |  |  |  |  |  |
Casualty (2) |  | 771,329 |  |  | 821,826 |  |  | 893,777 |
Property (2) |  | 424,296 |  |  | 330,359 |  |  | 278,807 |
Monoline Excess (3) |  | 266,552 |  |  | 241,126 |  |  | 217,017 |
Total Reinsurance & Monoline Excess |  | 1,462,177 |  |  | 1,393,311 |  |  | 1,389,601 |
Total |  | $ | 11,548,485 |  |  | $ | 10,400,687 |  |  | $ | 9,561,429 |

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