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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
ASSETS:    
Fixed maturities - available for sale (amortized cost: 2021, $22,063,592; 2020, $19,225,067, credit allowances: 2021, $(29,738); 2020, $(1,745)) $ 22,308,272 $ 20,040,173
Equity securities, at fair value 1,825,908 1,472,236
Short-term investments (cost: 2021, $1,178,386; 2020, $1,135,088) 1,178,337 1,134,950
Other invested assets 2,919,965 2,012,581
Cash 1,440,861 801,651
Total investments and cash 29,673,343 25,461,591
Accrued investment income 149,105 141,304
Premiums receivable 3,293,598 2,680,562
Reinsurance recoverables 2,053,354 1,994,555
Funds held by reinsureds 868,601 716,655
Deferred acquisition costs 872,289 622,053
Prepaid reinsurance premiums 515,445 412,015
Income taxes 2,381 17,253
Other assets 757,167 665,515
TOTAL ASSETS 38,185,283 32,711,503
LIABILITIES:    
Reserve for losses and loss adjustment expenses 19,009,486 16,322,143
Future policy benefit reserve 35,669 37,723
Unearned premium reserve 4,609,634 3,501,359
Funds held under reinsurance treaties 18,391 15,807
Other net payable to reinsurers 449,723 294,347
Losses in course of payment 260,684 127,971
Senior notes 2,345,800 1,376,718
Long term notes 223,774 223,674
Borrowings from FHLB 519,000 310,000
Accrued interest on debt and borrowings 17,348 10,460
Unsettled securities payable 16,698 206,693
Other liabilities 539,896 558,432
Total liabilities 28,046,103 22,985,327
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; (2021) 69,790 and (2020) 69,620 outstanding before treasury shares 698 696
Additional paid-in capital 2,274,431 2,245,301
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of $26,781 at 2021 and $80,451 at 2020 11,523 534,899
Treasury shares, at cost; 30,524 shares (2021) and 29,636 shares (2020) (3,847,308) (3,622,172)
Retained earnings 11,699,836 10,567,452
Total shareholders' equity 10,139,180 9,726,176
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 38,185,283 $ 32,711,503