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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Investments:    
Fixed maturities, available for sale, at fair value (Amortized cost 2019: $12,263,240; 2018: $11,616,312) $ 12,468,205 $ 11,435,347
Equity securities, at fair value (Cost 2019: $398,956; 2018: $365,905) 474,207 381,633
Mortgage loans, held for investment, at fair value 432,748 298,650
Other investments, at fair value 770,923 787,787
Equity method investments 117,821 108,103
Short-term investments, at fair value 38,471 144,040
Total investments 14,302,375 13,155,560
Cash and cash equivalents 1,241,109 1,232,814
Restricted cash and cash equivalents 335,348 597,206
Accrued interest receivable 78,085 80,335
Insurance and reinsurance premium balances receivable 3,071,390 3,007,296
Reinsurance recoverable on unpaid losses and loss expenses 3,877,756 3,501,669
Reinsurance recoverable on paid losses and loss expenses 327,795 280,233
Deferred acquisition costs 492,119 566,622
Prepaid reinsurance premiums 1,101,889 1,013,573
Receivable for investments sold 35,659 32,627
Goodwill 102,003 102,003
Intangible assets 230,550 241,568
Value of business acquired 8,992 35,714
Operating lease right-of-use assets 111,092  
Other assets 287,892 285,346
Total assets 25,604,054 24,132,566
Liabilities    
Reserve for losses and loss expenses 12,752,081 12,280,769
Unearned premiums 3,626,246 3,635,758
Insurance and reinsurance balances payable 1,349,082 1,338,991
Debt 1,808,157 1,341,961
Payable for investments purchased 32,985 111,838
Operating lease liabilities 115,584  
Other liabilities 375,911 393,178
Total liabilities 20,060,046 19,102,495
Commitments and Contingencies
Shareholders' equity    
Preferred shares 775,000 775,000
Common shares (shares issued 2019: 176,580; 2018: 176,580 shares outstanding 2019: 83,959; 2018: 83,586) 2,206 2,206
Additional paid-in capital 2,317,212 2,308,583
Accumulated other comprehensive income (loss) 171,710 (177,110)
Retained earnings 6,056,686 5,912,812
Treasury shares, at cost (2019: 92,621; 2018: 92,994) (3,778,806) (3,791,420)
Total shareholders’ equity 5,544,008 5,030,071
Total liabilities and shareholders’ equity $ 25,604,054 $ 24,132,566