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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
ASSETS:    
Fixed maturities - available for sale, at fair value (amortized cost: 2022, $23,408,417; 2021, $22,063,592, credit allowances: 2022, $(42,714); 2021, $(29,738)) $ 21,880,443 $ 22,308,272
Fixed maturities - held to maturity, at amortized cost, net of credit allowances (fair value: 2022, $71,245, credit allowances: 2022, $(366)) 71,390
Equity securities, at fair value 1,299,221 1,825,908
Short-term investments (cost: 2022, $300,854; 2021, $1,178,386) 300,840 1,178,337
Other invested assets 3,055,356 2,919,965
Cash 2,116,049 1,440,861
Total investments and cash 28,723,299 29,673,343
Accrued investment income 178,123 149,105
Premiums receivable 3,406,564 3,293,598
Reinsurance recoverables 2,096,968 2,053,354
Funds held by reinsureds 909,454 868,601
Deferred acquisition costs 836,496 872,289
Prepaid reinsurance premiums 562,550 515,445
Income taxes 336,646 2,381
Other assets 857,550 757,167
TOTAL ASSETS 37,907,650 38,185,283
LIABILITIES:    
Reserve for losses and loss adjustment expenses 19,993,054 19,009,486
Future policy benefit reserve 33,580 35,669
Unearned premium reserve 4,681,010 4,609,634
Funds held under reinsurance treaties 12,658 18,391
Other net payable to reinsurers 492,556 449,723
Losses in course of payment 79,549 260,684
Senior notes 2,346,495 2,345,800
Long term notes 223,824 223,774
Borrowings from FHLB 519,000 519,000
Accrued interest on debt and borrowings 16,664 17,348
Unsettled securities payable 66,150 16,698
Other liabilities 590,244 539,896
Total liabilities 29,054,784 28,046,103
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; (2022) 69,947 and (2021) 69,790 outstanding before treasury shares 700 698
Additional paid-in capital 2,283,513 2,274,431
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of $(208,066) at 2022 and $26,781 at 2021 (1,576,854) 11,523
Treasury shares, at cost; 30,529 shares (2022) and 30,524 shares (2021) (3,848,630) (3,847,308)
Retained earnings 11,994,137 11,699,836
Total shareholders' equity 8,852,866 10,139,180
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 37,907,650 $ 38,185,283