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Industry Segments (Tables)

12 Months Ended

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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- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

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Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

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