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Consolidated Statements Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUES:        
Net premiums written $ 3,226,930 $ 3,057,276 $ 9,711,672 $ 9,035,346
Change in net unearned premiums (70,548) (130,453) (444,724) (497,761)
Net premiums earned 3,156,382 2,926,823 9,266,948 8,537,585
Net investment income 351,238 323,756 1,090,833 1,015,723
Net realized and unrealized gains (losses) on investments 78,800 (23,362) 125,044 (72,165)
Change in allowance for expected credit losses on investments 160 15,276 1,244 31,347
Net investment gains (losses) 78,960 (8,086) 126,288 (40,818)
Revenues from non-insurance businesses 150,335 128,610 408,083 375,307
Insurance service fees 30,924 28,666 92,610 81,583
Other income 397 610 1,681 1,804
Total revenues 3,768,236 3,400,379 10,986,443 9,971,184
OPERATING COSTS AND EXPENSES:        
Losses and loss expenses 1,968,857 1,825,960 5,825,073 5,270,334
Other operating costs and expenses 975,333 943,365 2,964,550 2,704,890
Expenses from non-insurance businesses 144,176 124,885 392,976 364,612
Interest expense 31,760 31,720 95,265 95,156
Total 3,120,126 2,925,930 9,277,864 8,434,992
Income before income taxes 648,110 474,449 1,708,579 1,536,192
Income tax expense (136,141) (109,135) (378,551) (356,958)
Net income before noncontrolling interests 511,969 365,314 1,330,028 1,179,234
Noncontrolling interests (937) 320 (136) 780
Net Income (Loss) to Common Stockholders $ 511,032 $ 365,634 $ 1,329,892 $ 1,180,014
NET INCOME PER SHARE:        
Basic (in dollar per share) $ 1.29 $ 0.92 $ 3.35 $ 2.95
Diluted (in dollar per share) $ 1.28 $ 0.91 $ 3.32 $ 2.92