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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
ASSETS:    
Fixed maturities - available for sale, at market value (amortized cost: 2020, $119,225,067; 2019, 16,473,491 , credit allowances: 2020, $(1,745); 2019, $0 ) $ 20,040,173 $ 16,824,944
Fixed maturities - available for sale, at fair value 5,826
Equity securities, at fair value 1,472,236 931,457
Short-term investments (cost: 2020, $1,135,088; 2019, $414,639) 1,134,950 414,706
Other invested assets (cost: 2020, $2,012,581; 2019, $1,763,531) 2,012,581 1,763,531
Cash 801,651 808,036
Total investments and cash 25,461,591 20,748,500
Accrued investment income 141,304 116,804
Premiums receivable 2,680,562 2,259,088
Reinsurance receivables 1,994,555 1,763,471
Funds held by reinsureds 716,655 489,901
Deferred acquisition costs 622,053 581,863
Prepaid reinsurance premiums 412,015 445,716
Income taxes 17,253 305,711
Other assets 742,369 612,997
TOTAL ASSETS 32,788,357 27,324,051
LIABILITIES:    
Reserve for losses and loss adjustment expenses 16,398,997 13,611,313
Future policy benefit reserve 37,723 42,592
Unearned premium reserve 3,501,359 3,056,735
Funds held under reinsurance treaties 15,807 10,668
Other net payable to reinsurers 294,347 291,660
Losses in course of payment 127,971 51,950
Long term notes due 5/1/2067 223,674 236,758
Borrowings from FHLB 310,000
Accrued interest on debt and borrowings 10,460 2,878
Unsettled securities payable 206,693 30,650
Other liabilities 558,432 458,848
Total liabilities 23,062,181 18,191,126
Commitments and contingencies (Note 15)
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; (2020) 69,620 and (2019) 69,464 outstanding before treasury shares 696 694
Additional paid-in capital 2,245,301 2,219,660
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of $80,451 at 2020 and $30,996 at 2019 534,899 28,152
Treasury shares, at cost; 29,636 shares (2020) and 28,665 shares (2019) (3,622,172) (3,422,152)
Retained earnings 10,567,452 10,306,571
Total shareholders' equity 9,726,176 9,132,925
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 32,788,357 27,324,051
Senior Notes [Member] | 4.868% Senior notes due 6/1/2044 [Member]    
LIABILITIES:    
Senior notes 397,194 397,074
Senior Notes [Member] | Senior Notes 3.5% [Member]    
LIABILITIES:    
Senior notes $ 979,524