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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Investments:    
Fixed maturities, available for sale, at fair value (Amortized cost 2018: $11,898,060; 2017: $12,611,219) $ 11,801,396 $ 12,622,006
Equity securities, at fair value (Cost 2018: $374,091; 2017: $552,867) 435,742 635,511
Mortgage loans, held for investment, at amortized cost and fair value 364,769 325,062
Other investments, at fair value 1,009,587 1,009,373
Equity method investments 108,597 108,597
Short-term investments, at amortized cost and fair value 56,246 83,661
Total investments 13,776,337 14,784,210
Cash and cash equivalents 1,227,736 948,626
Restricted cash and cash equivalents 416,844 415,160
Accrued interest receivable 73,928 81,223
Insurance and reinsurance premium balances receivable 3,892,957 3,012,419
Reinsurance recoverable on unpaid and paid losses 3,129,303 3,338,840
Deferred acquisition costs 721,820 474,061
Prepaid reinsurance premiums 1,015,163 809,274
Receivable for investments sold 19,433 11,621
Goodwill 102,003 102,003
Intangible assets 253,808 257,987
Value of business acquired 150,936 206,838
Other assets 307,041 317,915
Total assets 25,087,309 24,760,177
Liabilities    
Reserve for losses and loss expenses 12,034,643 12,997,553
Unearned premiums 4,659,858 3,641,399
Insurance and reinsurance balances payable 1,251,629 899,064
Senior notes and notes payable 1,376,835 1,376,529
Payable for investments purchased 144,315 100,589
Other liabilities 355,634 403,779
Total liabilities 19,822,914 19,418,913
Shareholders’ equity    
Preferred shares 775,000 775,000
Common shares (shares issued 2018: 176,580; 2017: 176,580 shares outstanding 2018: 83,518; 2017: 83,161) 2,206 2,206
Additional paid-in capital 2,289,497 2,299,166
Accumulated other comprehensive income (loss) (85,216) 92,382
Retained earnings 6,076,294 5,979,666
Treasury shares, at cost (2018: 93,062; 2017: 93,419 shares) (3,793,386) (3,807,156)
Total shareholders’ equity 5,264,395 5,341,264
Total liabilities and shareholders’ equity $ 25,087,309 $ 24,760,177