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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
ASSETS:    
Fixed maturities - available for sale, at market value (amortized cost: 2019, $15,506,555 ; 2018, $15,406,572 ) $ 15,804,524 $ 15,225,263
Fixed maturities - available for sale, at fair value 0 2,337
Equity securities, at fair value 914,654 716,639
Short-term investments (cost: 2019, $744,486 ; 2018, $241,010 744,602 240,987
Other invested assets (cost: 2019, $1,668,705 ; 2018, $1,591,745 ) 1,668,705 1,591,745
Cash 661,367 656,095
Total investments and cash 19,793,852 18,433,066
Accrued investment income 109,273 104,619
Premiums receivable 2,389,943 2,218,283
Reinsurance receivables 1,797,866 1,787,648
Funds held by reinsureds 498,043 445,040
Deferred acquisition costs 510,861 511,573
Prepaid reinsurance premiums 476,429 343,343
Income taxes 358,457 592,385
Other assets 453,067 358,042
TOTAL ASSETS 26,387,791 24,793,999
LIABILITIES:    
Reserve for losses and loss adjustment expenses 13,249,488 13,119,090
Future policy benefit reserve 45,130 46,778
Unearned premium reserve 2,729,376 2,517,612
Funds held under reinsurance treaties 10,899 13,099
Other net payable to reinsurers 346,151 218,439
Senior notes due 6/1/2044 397,014 396,954
Long term notes due 5/1/2067 236,709 236,659
Accrued interest on debt and borrowings 3,063 3,093
Equity index put option liability 8,374 11,958
Unsettled securities payable 145,568 51,112
Other liabilities 331,859 275,401
Total liabilities 17,503,631 16,890,195
Commitments and contingencies (Note 8)
SHAREHOLDERS' EQUITY:    
Preferred shares, par value: $0.01; 50,000 shares authorized; no shares issued and outstanding 0 0
Common shares, par value: $0.01; 200,000 shares authorized; (2019) 69,406 and (2018) 69,202 outstanding before treasury shares 694 692
Additional paid-in capital 2,198,461 2,188,777
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of $32,754 at 2019 and $(20,697) at 2018 (44,902) (462,557)
Treasury shares, at cost; 28,665 shares (2019) and 28,551 shares (2018) (3,422,152) (3,397,548)
Retained earnings 10,152,059 9,574,440
Total shareholders' equity 8,884,160 7,903,804
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 26,387,791 $ 24,793,999