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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
ASSETS:    
Fixed maturities - available for sale, at market value (amortized cost: 2019, $16,473,491 ; 2018, $15,406,572 ) $ 16,824,944 $ 15,225,263
Fixed maturities - available for sale, at fair value 5,826 2,337
Equity securities, at fair value 931,457 716,639
Short-term investments (cost: 2019, $414,639 ; 2018, $241,010 ) 414,706 240,987
Other invested assets (cost: 2019, $1,763,531 ; 2018, $1,591,745 ) 1,763,531 1,591,745
Cash 808,036 656,095
Total investments and cash 20,748,500 18,433,066
Accrued investment income 116,804 104,619
Premiums receivable 2,259,088 2,183,183
Reinsurance receivables 1,763,471 1,787,648
Funds held by reinsureds 489,901 435,031
Deferred acquisition costs 581,863 511,573
Prepaid reinsurance premiums 445,716 343,343
Income taxes 305,711 594,487
Other assets 612,997 358,042
TOTAL ASSETS 27,324,051 24,750,992
LIABILITIES:    
Reserve for losses and loss adjustment expenses 13,611,313 13,119,090
Future policy benefit reserve 42,592 46,778
Unearned premium reserve 3,056,735 2,517,612
Funds held under reinsurance treaties 10,668 13,099
Other net payable to reinsurers 291,660 218,439
Loss in course of payment 51,950 85,519
Senior notes due 6/1/2044 397,074 396,954
Long term notes due 5/1/2067 236,758 236,659
Accrued interest on debt and borrowings 2,878 3,093
Equity index put option liability 5,584 11,958
Unsettled securities payable 30,650 51,112
Other liabilities 453,264 189,882
Total liabilities 18,191,126 16,890,195
Commitments and contingencies (Note 15)
SHAREHOLDERS' EQUITY:    
Preferred shares, par value
Common shares, par value: $0.01; 200,000 shares authorized; (2019) 69,464 and (2018) 69,202 outstanding before treasury shares 694 692
Additional paid-in capital 2,219,660 2,188,777
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of $30,996 at 2019 and ($20,697) at 2018 28,152 (462,557)
Treasury shares, at cost; 28,665 shares (2019) and 28,551 shares (2018) (3,422,152) (3,397,548)
Retained earnings 10,306,571 9,531,433
Total shareholders' equity 9,132,925 7,860,797
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 27,324,051 $ 24,750,992