XML 14 R2.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
ASSETS:    
Fixed maturities - available for sale, at market value (amortized cost: 2021, $19,932,190; 2020, $19,225,067, credit allowances: 2021, $(8,723); 2020, $(1,745)) $ 20,407,480 $ 20,040,173
Equity securities, at fair value 1,400,674 1,472,236
Short-term investments (cost: 2021, $826,777 ; 2020, $1,135,088) 826,769 1,134,950
Other invested assets (cost: 2021, $2,173,221 ; 2020, $2,012,581) 2,173,221 2,012,581
Cash 1,132,660 801,651
Total investments and cash 25,940,804 25,461,591
Accrued investment income 156,330 141,304
Premiums receivable 2,789,602 2,680,562
Reinsurance receivables 2,029,734 1,994,555
Funds held by reinsureds 740,554 716,655
Deferred acquisition costs 663,560 622,053
Prepaid reinsurance premiums 441,606 412,015
Income taxes 31,738 17,253
Other assets 801,424 742,369
TOTAL ASSETS 33,595,352 32,788,357
LIABILITIES:    
Reserve for losses and loss adjustment expenses 17,090,644 16,398,997
Future policy benefit reserve 37,561 37,723
Unearned premium reserve 3,704,189 3,501,359
Funds held under reinsurance treaties 13,875 15,807
Other net payable to reinsurers 402,379 294,347
Losses in course of payment 139,382 127,971
Long term notes due 5/1/2067 223,699 223,674
Advances from FHLB 310,000 310,000
Accrued interest on debt and borrowings 24,035 10,460
Unsettled securities payable 151,174 206,693
Other liabilities 438,654 558,432
Total liabilities 23,912,470 23,062,181
Commitments and contingencies (Note 7)
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; (2021) 69,816 and (2020) 69,620 outstanding before treasury shares 698 696
Additional paid-in capital 2,245,737 2,245,301
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of $41,161 at 2021 and $80,451 at 2020 235,079 534,899
Treasury shares, at cost; 29,734 shares (2021) and 29,636 shares (2020) (3,645,717) (3,622,172)
Retained earnings 10,847,085 10,567,452
Total shareholders' equity 9,682,882 9,726,176
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 33,595,352 32,788,357
Senior Notes [Member] | 4.868% Senior notes due 6/1/2044 [Member]    
LIABILITIES:    
Senior notes 397,224 397,194
Senior Notes [Member] | 3.5% Senior notes due 10/15/2050 [Member]    
LIABILITIES:    
Senior notes $ 979,654 $ 979,524