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Segment Reporting (Tables)
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Schedule Of Underwriting Results For Operating Segments

 

Three Months Ended

 

Six Months Ended

U.S. Reinsurance

June 30,

 

June 30,

(Dollars in thousands)

2019

 

2018

 

2019

 

2018

Gross written premiums

$

641,764

 

$

652,109

 

$

1,405,910

 

$

1,296,331

Net written premiums

 

506,840

 

 

566,303

 

 

1,176,547

 

 

1,112,134

 

 

 

 

 

 

 

 

 

 

 

 

Premiums earned

$

620,780

 

$

603,884

 

$

1,247,251

 

$

1,167,269

Incurred losses and LAE

 

351,725

 

 

509,653

 

 

671,829

 

 

1,054,846

Commission and brokerage

 

172,602

 

 

148,712

 

 

339,704

 

 

276,032

Other underwriting expenses

 

15,727

 

 

15,472

 

 

31,318

 

 

32,358

Underwriting gain (loss)

$

80,726

 

$

(69,953)

 

$

204,400

 

$

(195,967)

 

Three Months Ended

 

Six Months Ended

International

June 30,

 

June 30,

(Dollars in thousands)

2019

 

2018

 

2019

 

2018

Gross written premiums

$

372,861

 

$

399,024

 

$

772,915

 

$

765,748

Net written premiums

 

357,917

 

 

355,309

 

 

733,422

 

 

700,464

 

 

 

 

 

 

 

 

 

 

 

 

Premiums earned

$

360,075

 

$

363,795

 

$

711,010

 

$

707,399

Incurred losses and LAE

 

212,972

 

 

301,406

 

 

467,107

 

 

428,430

Commission and brokerage

 

88,170

 

 

92,088

 

 

169,595

 

 

174,265

Other underwriting expenses

 

9,835

 

 

10,349

 

 

18,516

 

 

20,925

Underwriting gain (loss)

$

49,098

 

$

(40,048)

 

$

55,792

 

$

83,779

 

 

Three Months Ended

 

Six Months Ended

Bermuda

June 30,

 

June 30,

(Dollars in thousands)

2019

 

2018

 

2019

 

2018

Gross written premiums

$

394,962

 

$

369,440

 

$

762,813

 

$

785,126

Net written premiums

 

369,929

 

 

355,236

 

 

719,270

 

 

750,204

 

 

 

 

 

 

 

 

 

 

 

 

Premiums earned

$

362,905

 

$

353,698

 

$

693,018

 

$

672,832

Incurred losses and LAE

 

218,385

 

 

250,097

 

 

416,344

 

 

379,610

Commission and brokerage

 

84,606

 

 

80,318

 

 

158,716

 

 

161,805

Other underwriting expenses

 

11,868

 

 

10,762

 

 

23,365

 

 

20,895

Underwriting gain (loss)

$

48,046

 

$

12,521

 

$

94,593

 

$

110,522

 

Three Months Ended

 

Six Months Ended

Insurance

June 30,

 

June 30,

(Dollars in thousands)

2019

 

2018

 

2019

 

2018

Gross written premiums

$

757,068

 

$

645,948

 

$

1,352,125

 

$

1,150,923

Net written premiums

 

549,297

 

 

469,530

 

 

1,006,442

 

 

855,782

 

 

 

 

 

 

 

 

 

 

 

 

Premiums earned

$

473,539

 

$

408,441

 

$

898,717

 

$

801,745

Incurred losses and LAE

 

311,548

 

 

280,158

 

 

587,900

 

 

535,605

Commission and brokerage

 

75,572

 

 

62,284

 

 

142,409

 

 

128,939

Other underwriting expenses

 

67,403

 

 

56,516

 

 

130,619

 

 

115,205

Underwriting gain (loss)

$

19,016

 

$

9,483

 

$

37,789

 

$

21,996

Schedule Of Underwriting Results For Operating Segments To Income (Loss) Before Taxes

 

Three Months Ended

 

Six Months Ended

 

June 30,

 

June 30,

(Dollars in thousands)

2019

 

2018

 

2019

 

2018

Underwriting gain (loss)

$

196,886

 

$

(87,997)

 

$

392,574

 

$

20,330

Net investment income

 

179,028

 

 

141,322

 

 

320,004

 

 

279,616

Net realized capital gains (losses)

 

30,272

 

 

15,776

 

 

122,504

 

 

(9,125)

Net derivative gain (loss)

 

353

 

 

2,987

 

 

3,584

 

 

3,260

Corporate expenses

 

(7,535)

 

 

(6,633)

 

 

(14,187)

 

 

(15,629)

Interest, fee and bond issue cost amortization expense

 

(8,434)

 

 

(7,728)

 

 

(16,065)

 

 

(15,146)

Other income (expense)

 

(7,977)

 

 

3,036

 

 

(17,030)

 

 

15,100

Income (loss) before taxes

$

382,593

 

$

60,763

 

$

791,384

 

$

278,406

Schedule Of Gross Written Premiums Derived From Largest Non-U.S. Market

 

Three Months Ended

 

Six Months Ended

 

June 30,

 

June 30,

(Dollars in thousands)

2019

 

2018

 

2019

 

2018

United Kingdom gross written premium

$

207,140

 

$

177,072

 

$

470,997

 

$

435,331