XML 14 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements Of Income And Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
OPERATING REVENUES        
Earned premiums $ 2,110,108 $ 2,121,745 $ 6,314,834 $ 6,120,592
Net investment income 235,477 192,207 676,807 521,235
Net investment gains (losses) 917,530 (265,917) 1,689,794 591,173
Products revenues 612,277 601,524 2,060,336 1,964,332
Services and other revenues 735,872 725,627 2,037,991 1,963,779
Total Operating Revenues 4,611,264 3,375,186 12,779,762 11,161,111
OPERATING EXPENSES        
Losses and loss adjustment expenses 1,290,612 1,404,325 3,810,934 3,765,215
Underwriting, acquisition and insurance expenses 743,556 698,129 2,192,603 2,071,721
Products expenses 549,990 545,567 1,766,930 1,712,792
Services and other expenses 609,321 606,810 1,757,222 1,678,246
Amortization of acquired intangible assets 46,459 47,545 134,981 136,367
Total Operating Expenses 3,239,938 3,302,376 9,662,670 9,364,341
Operating Income 1,371,326 72,810 3,117,092 1,796,770
Interest expense (53,361) (44,553) (151,506) (141,212)
Foreign exchange gains (losses) (111,612) 39,246 (51,401) (8,658)
Income Before Income Taxes 1,206,353 67,503 2,914,185 1,646,900
Income tax expense (259,411) (14,235) (628,211) (339,903)
Net Income 946,942 53,268 2,285,974 1,306,997
Net income attributable to noncontrolling interests (41,983) (10,677) (88,130) (80,243)
Net Income to Shareholders 904,959 42,591 2,197,844 1,226,754
Preferred stock dividends 0 0 (18,000) (18,000)
Net Income to Common Shareholders 904,959 42,591 2,179,844 1,208,754
OTHER COMPREHENSIVE INCOME (LOSS)        
Net holding gains (losses) arising during the period 434,310 (187,330) 265,586 (161,115)
Reclassification adjustments for net losses in net income 254 22,869 17,406 26,268
Change in net unrealized losses on available-for-sale investments, net of taxes 434,564 (164,461) 282,992 (134,847)
Change in discount rate for life and annuity benefits, net of taxes (14,298) 14,609 (1,907) 8,781
Change in foreign currency translation adjustments, net of taxes 4,236 (187) 3,306 2,753
Change in net actuarial pension loss, net of taxes 21 20 60 56
Total Other Comprehensive Income (Loss) 424,523 (150,019) 284,451 (123,257)
Comprehensive Income (Loss) 1,371,465 (96,751) 2,570,425 1,183,740
Comprehensive income attributable to noncontrolling interests (42,007) (10,749) (88,226) (80,326)
Comprehensive Income (Loss) to Shareholders $ 1,329,458 $ (107,500) $ 2,482,199 $ 1,103,414
NET INCOME PER COMMON SHARE        
Basic $ 66.40 $ 3.15 $ 160.71 $ 90.86
Diluted $ 66.25 $ 3.14 $ 160.42 $ 90.69