XML 13 R2.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
ASSETS:    
Fixed maturities - available for sale, at market value (amortized cost: 2021, $20,718,717; 2020, $19,225,067, credit allowances: 2021, $(24,650); 2020, $(1,745)) $ 21,275,199 $ 20,040,173
Equity securities, at fair value 1,485,833 1,472,236
Short-term investments (cost: 2021, $629,943 ; 2020, $1,135,088) 629,943 1,134,950
Other invested assets (cost: 2021, $2,558,631 ; 2020, $2,012,581) 2,558,631 2,012,581
Cash 1,106,345 801,651
Total investments and cash 27,055,951 25,461,591
Accrued investment income 170,907 141,304
Premiums receivable 3,199,024 2,680,562
Reinsurance receivables 2,032,363 1,994,555
Funds held by reinsureds 798,780 716,655
Deferred acquisition costs 748,897 622,053
Prepaid reinsurance premiums 495,657 412,015
Income taxes net recoverable 17,253
Other assets 868,477 742,369
TOTAL ASSETS 35,370,056 32,788,357
LIABILITIES:    
Reserve for losses and loss adjustment expenses 17,645,762 16,398,997
Future policy benefit reserve 36,497 37,723
Unearned premium reserve 4,024,050 3,501,359
Funds held under reinsurance treaties 17,520 15,807
Other net payable to reinsurers 379,524 294,347
Losses in course of payment 198,352 127,971
Long term notes due 5/1/2067 223,724 223,674
Borrowings from FHLB 310,000 310,000
Accrued interest on debt and borrowings 9,641 10,460
Unsettled securities payable 124,559 206,693
Income taxes net payable 35,089
Other liabilities 571,511 558,432
Total liabilities 24,953,267 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) 69,817 and (2020) 69,620 outstanding before treasury shares 698 696
Additional paid-in capital 2,256,390 2,245,301
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of $56,797 at 2021 and $80,451 at 2020 357,178 534,899
Treasury shares, at cost; 29,802 shares (2021) and 29,636 shares (2020) (3,662,499) (3,622,172)
Retained earnings 11,465,022 10,567,452
Total shareholders' equity 10,416,789 9,726,176
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 35,370,056 32,788,357
Senior Notes [Member] | 4.868% Senior Notes due 6/1/2044 [Member]    
LIABILITIES:    
Senior notes 397,254 397,194
Senior Notes [Member] | 3.5% Senior notes due 10/15/2050 [Member]    
LIABILITIES:    
Senior notes $ 979,784 $ 979,524