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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Investments:    
Fixed maturities, available for sale, at fair value (Amortized cost 2019: $11,834,207; 2018: $11,616,312) $ 11,874,518 $ 11,435,347
Equity securities, at fair value (Cost 2019: $376,493; 2018: $365,905) 418,863 381,633
Mortgage loans, held for investment, at fair value 313,421 298,650
Other investments, at fair value 795,331 787,787
Equity method investments 110,322 108,103
Short-term investments, at fair value 41,853 144,040
Total investments 13,554,308 13,155,560
Cash and cash equivalents 1,151,182 1,232,814
Restricted cash and cash equivalents 455,076 597,206
Accrued interest receivable 78,594 80,335
Insurance and reinsurance premium balances receivable 3,667,923 3,007,296
Reinsurance recoverable on unpaid losses 3,555,341 3,501,669
Reinsurance recoverable on paid losses 321,798 280,233
Deferred acquisition costs 703,028 566,622
Prepaid reinsurance premiums 1,271,303 1,013,573
Receivable for investments sold 10,888 32,627
Goodwill 102,003 102,003
Intangible assets 238,763 241,568
Value of business acquired 22,610 35,714
Operating lease right-of-use assets 143,887 0
Other assets 280,878 285,346
Total assets 25,557,582 24,132,566
Liabilities    
Reserve for losses and loss expenses 12,275,771 12,280,769
Unearned premiums 4,535,163 3,635,758
Insurance and reinsurance balances payable 1,440,942 1,338,991
Senior notes 1,342,345 1,341,961
Payable for investments purchased 159,544 111,838
Operating lease liabilities 144,298 0
Other liabilities 359,363 393,178
Total liabilities 20,257,426 19,102,495
Shareholders’ equity    
Preferred shares 775,000 775,000
Common shares (shares issued 2019: 176,580; 2018: 176,580 shares outstanding 2019: 83,934; 2018: 83,586) 2,206 2,206
Additional paid-in capital 2,296,639 2,308,583
Accumulated other comprehensive income (loss) 29,096 (177,110)
Retained earnings 5,976,603 5,912,812
Treasury shares, at cost (2019: 92,646; 2018: 92,994 shares) (3,779,388) (3,791,420)
Total shareholders’ equity 5,300,156 5,030,071
Total liabilities and shareholders’ equity $ 25,557,582 $ 24,132,566