XML 72 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements Of Operations And Comprehensive Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
REVENUES:      
Premiums earned $ 7,403,686 $ 6,931,699 $ 5,937,840
Net Investment Income 647,139 581,183 542,898
Other-than-temporary impairments on fixed maturity securities 20,899 8,110 7,093
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income
Other net realized capital gains (losses) 205,903 (119,026) 160,287
Total net realized capital gains (losses) 185,004 (127,136) 153,194
Derivative, Gain (Loss) on Derivative, Net 6,374 520 9,581
Other income (expense) (11,034) (24,771) (21,215)
Total revenues 8,231,169 7,361,495 6,622,298
CLAIMS AND EXPENSES:      
Incurred losses and loss adjustment expenses 4,922,898 5,651,403 4,522,581
Commission, brokerage, taxes and fees 1,703,726 1,519,030 1,303,963
Other underwriting expenses 440,899 371,541 318,817
Corporate Expenses 32,966 30,672 25,923
Total claims and expenses 7,132,182 7,603,677 6,202,887
INCOME (LOSS) BEFORE TAXES 1,098,987 (242,182) 419,411
Income tax expense (benefit) 89,526 (331,223) (63,340)
NET INCOME (LOSS) 1,009,461 89,041 482,751
Other comprehensive income (loss), net of tax :      
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period 496,430 (255,656) (64,348)
Reclassification adjustment for realized losses (gains) included in net income (loss) (12,613) 27,496 (6,950)
Total URA(D) on securities arising during the period 483,817 (228,160) (71,298)
Foreign currency translation adjustments 14,030 (76,816) 121,917
Benefit plan actuarial net gain (loss) for the period (12,591) (510) 1,027
Reclassification adjustment for amortization of net (gain) loss included in net income (loss) 5,453 5,021 5,477
Total benefit plan net gain (loss) for the period (7,138) 4,511 6,504
Total other comprehensive income (loss), net of tax 490,709 (300,465) 57,123
COMPREHENSIVE INCOME (LOSS) $ 1,500,170 $ (211,424) $ 539,874
EARNINGS PER COMMON SHARE:      
Basic $ 24.77 $ 2.18 $ 11.77
Diluted $ 24.70 $ 2.17 $ 11.70