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Consolidated Statements Of Operations And Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUES:        
Premiums earned $ 1,905,619 $ 1,731,479 $ 5,455,615 $ 5,080,724
Net investment income 181,058 161,363 501,062 440,979
Net realized capital gains (losses):        
Other-than-temporary impairments on fixed maturity securities (7,314) (3,825) (15,404) (4,783)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income (loss)
Other net realized capital gains (losses) (5,629) 58,629 124,965 50,462
Total net realized capital gains (losses) (12,943) 54,804 109,561 45,679
Net derivative gain (loss) (189) 2,225 3,395 5,485
Other income (expense) (31,025) (13,408) (52,550) (2,948)
Total revenues 2,042,520 1,936,463 6,017,083 5,569,919
CLAIMS AND EXPENSES:        
Incurred losses and loss adjustment expenses 1,371,924 1,251,858 3,515,104 3,650,349
Commission, brokerage, taxes and fees 443,076 381,401 1,253,500 1,122,442
Other underwriting expenses 118,158 97,942 321,976 287,325
Corporate expenses 8,435 7,890 22,622 23,519
Interest, fees and bond issue cost amortization expense 7,907 7,901 23,972 23,047
Total claims and expenses 1,949,500 1,746,992 5,137,174 5,106,682
INCOME (LOSS) BEFORE TAXES 93,020 189,471 879,909 463,237
Income tax expense (benefit) (11,378) (8,910) 88,092 (11,117)
NET INCOME (LOSS) 104,398 198,381 791,817 474,354
Other comprehensive income (loss), net of tax :        
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period 93,765 (22,282) 524,589 (254,682)
Reclassification adjustment for realized losses (gains) included in net income (loss) (529) 1,417 (4,220) (7,106)
Total URA(D) on securities arising during the period 93,236 (20,865) 520,369 (261,788)
Foreign currency translation adjustments (3,426) (5,930) (15,206) (51,883)
Reclassification adjustment for amortization of net (gain) loss included in net income (loss) 1,363 1,816 3,665 5,446
Total benefit plan net gain (loss) for the period 1,363 1,816 3,665 5,446
Total other comprehensive income (loss), net of tax 91,173 (24,979) 508,828 (308,225)
COMPREHENSIVE INCOME (LOSS) $ 195,571 $ 173,402 $ 1,300,645 $ 166,129
EARNINGS PER COMMON SHARE:        
Basic $ 2.56 $ 4.87 $ 19.44 $ 11.61
Diluted $ 2.56 $ 4.84 $ 19.38 $ 11.55