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Consolidated Statements Of Operations And Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
REVENUES:        
Premiums earned $ 2,558,372 $ 2,042,405 $ 4,946,237 $ 4,079,219
Net investment income 407,095 38,083 667,508 185,883
Net realized capital gains (losses):        
Credit allowances on fixed maturity securities (15,927) (4,063) (22,904) (25,837)
Other net realized capital gains (losses) 120,036 188,711 165,915 (103)
Total net realized capital gains (losses) 104,109 184,648 143,011 (25,940)
Other income (expense) 7,114 (20,621) 63,707 (12,631)
Total revenues 3,076,690 2,244,515 5,820,463 4,226,531
CLAIMS AND EXPENSES:        
Incurred losses and loss adjustment expenses 1,586,141 1,407,016 3,297,560 2,837,856
Commission, brokerage, taxes and fees 557,749 466,316 1,046,760 914,838
Other underwriting expenses 140,844 118,130 283,075 246,990
Corporate expenses 16,168 8,733 28,546 18,566
Interest, fees and bond issue cost amortization expense 15,607 7,253 31,246 14,836
Total claims and expenses 2,316,509 2,007,448 4,687,187 4,033,086
INCOME (LOSS) BEFORE TAXES 760,181 237,067 1,133,276 193,445
Income tax expense (benefit) 80,199 46,187 111,432 (14,047)
NET INCOME (LOSS) 679,982 190,880 1,021,844 207,492
Other comprehensive income (loss), net of tax:        
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period 84,171 551,753 (204,444) 272,354
Reclassification adjustment for realized losses (gains) included in net income (loss) 1,590 (7,257) (2,076) 24,142
Total URA(D) on securities arising during the period 85,761 544,496 (206,520) 296,496
Foreign currency translation adjustments 34,295 20,586 24,713 (30,238)
Reclassification adjustment for amortization of net (gain) loss included in net income (loss) 2,043 1,806 4,086 2,726
Total benefit plan net gain (loss) for the period 2,043 1,806 4,086 2,726
Total other comprehensive income (loss), net of tax 122,099 566,888 (177,721) 268,984
COMPREHENSIVE INCOME (LOSS) $ 802,081 $ 757,768 $ 844,123 $ 476,476
EARNINGS PER COMMON SHARE:        
Basic $ 16.97 $ 4.78 $ 25.50 $ 5.14
Diluted $ 16.95 $ 4.77 $ 25.47 $ 5.13