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Consolidated Statements Of Operations And Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUES:        
Premiums earned $ 1,817,299 $ 1,729,818 $ 3,549,996 $ 3,349,245
Net investment income 179,028 141,322 320,004 279,616
Net realized capital gains (losses):        
Other-than-temporary impairments on fixed maturity securities 5,157 888 8,090 958
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income (loss) 0 0 0 0
Other net realized capital gains (losses) 35,429 16,664 130,594 (8,167)
Total net realized capital gains (losses) 30,272 15,776 122,504 (9,125)
Net derivative gain (loss) 353 2,987 3,584 3,260
Other income (expense) (7,977) 3,036 (17,030) 15,100
Total revenues 2,018,975 1,892,939 3,979,058 3,638,096
CLAIMS AND EXPENSES:        
Incurred losses and loss adjustment expenses 1,094,630 1,341,314 2,143,180 2,398,491
Commission, brokerage, taxes and fees 420,950 383,402 810,424 741,041
Other underwriting expenses 104,833 93,099 203,818 189,383
Corporate expenses 7,535 6,633 14,187 15,629
Interest, fees and bond issue cost amortization expense 8,434 7,728 16,065 15,146
Total claims and expenses 1,636,382 1,832,176 3,187,674 3,359,690
INCOME (LOSS) BEFORE TAXES 382,593 60,763 791,384 278,406
Income tax expense (benefit) 39,738 (9,132) 99,629 (1,807)
NET INCOME (LOSS) 342,855 69,895 691,755 280,213
Other comprehensive income (loss), net of tax :        
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period 197,759 (41,776) 430,824 (232,400)
Reclassification adjustment for realized losses (gains) included in net income (loss) (1,869) 249 (3,691) (8,523)
Total URA(D) on securities arising during the period 195,890 (41,527) 427,133 (240,923)
Foreign currency translation adjustments (25,832) (63,652) (11,780) (45,953)
Reclassification adjustment for amortization of net (gain) loss included in net income (loss) 1,151 1,815 2,302 3,630
Total benefit plan net gain (loss) for the period 1,151 1,815 2,302 3,630
Total other comprehensive income (loss), net of tax 171,209 (103,364) 417,655 (283,246)
COMPREHENSIVE INCOME (LOSS) $ 514,064 $ (33,469) $ 1,109,410 $ (3,033)
EARNINGS PER COMMON SHARE:        
Basic $ 8.42 $ 1.71 $ 16.98 $ 6.85
Diluted $ 8.39 $ 1.70 $ 16.93 $ 6.81