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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
ASSETS:    
Fixed maturities - available for sale, at market value (amortized cost: 2019, $16,164,841 ; 2018, $15,406,572 ) $ 16,566,133 $ 15,225,263
Fixed maturities - available for sale, at fair value 2,337
Equity securities, at fair value 906,230 716,639
Short-term investments (cost: 2019, $458,915 ; 2018, $241,010) 458,954 240,987
Other invested assets (cost: 2019, $1,716,104 ; 2018, $1,591,745 ) 1,716,104 1,591,745
Cash 717,172 656,095
Total investments and cash 20,364,593 18,433,066
Accrued investment income 116,123 104,619
Premiums receivable 2,393,769 2,183,183
Reinsurance receivables 1,817,857 1,787,648
Funds held by reinsureds 450,539 435,031
Deferred acquisition costs 526,514 511,573
Prepaid reinsurance premiums 484,268 343,343
Income taxes 361,243 594,487
Other assets 508,835 358,042
TOTAL ASSETS 27,023,741 24,750,992
LIABILITIES:    
Reserve for losses and loss adjustment expenses 13,637,639 13,119,090
Future policy benefit reserve 44,276 46,778
Unearned premium reserve 2,896,161 2,517,612
Funds held under reinsurance treaties 11,634 13,099
Other net payable to reinsurers 371,807 218,439
Senior notes due 6/1/2044 397,044 396,954
Long term notes due 5/1/2067 236,733 236,659
Accrued interest on debt and borrowings 7,821 3,093
Equity index put option liability 8,563 11,958
Unsettled securities payable 53,524 51,112
Other liabilities 375,281 275,401
Total liabilities 18,040,483 16,890,195
Commitments and contingencies (Note 9)
SHAREHOLDERS' EQUITY:    
Preferred shares, par value: $0.01; 50,000 shares authorized; no shares issued and outstanding
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 2,206,326 2,188,777
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of $43,886 at 2019 and $(20,697) at 2018 46,272 (462,557)
Treasury shares, at cost; 28,665 shares (2019) and 28,551 shares (2018) (3,422,152) (3,397,548)
Retained earnings 10,152,118 9,531,433
Total shareholders' equity 8,983,258 7,860,797
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 27,023,741 $ 24,750,992