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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Investments:    
Fixed maturities, available for sale, at fair value (Amortized cost 2020: $11,566,930; 2019: $12,263,240 Allowance for expected credit losses 2020: $323) $ 12,041,799 $ 12,468,205
Equity securities, at fair value (Cost 2020: $421,744; 2019: $398,956) 518,445 474,207
Mortgage loans, held for investment, at fair value (Allowance for expected credit losses 2020: $nil) 593,290 432,748
Other investments, at fair value 829,156 770,923
Equity method investments 114,209 117,821
Short-term investments, at fair value 161,897 38,471
Total investments 14,258,796 14,302,375
Cash and cash equivalents 902,831 1,241,109
Restricted cash and cash equivalents 600,401 335,348
Accrued interest receivable 65,020 78,085
Insurance and reinsurance premium balances receivable (Allowance for expected credit losses 2020: $8,836) 2,738,342 3,071,390
Reinsurance recoverable on unpaid losses and loss expenses (Allowance for expected credit losses 2020: $23,711) 4,496,641 3,877,756
Reinsurance recoverable on paid losses and loss expenses 434,201 327,795
Deferred acquisition costs 431,439 492,119
Prepaid reinsurance premiums 1,194,455 1,101,889
Receivable for investments sold 2,150 35,659
Goodwill 100,801 102,003
Intangible assets 219,633 230,550
Value of business acquired 3,854 8,992
Operating lease right-of-use assets 123,579 111,092
Other assets 305,544 287,892
Total assets 25,877,687 25,604,054
Liabilities    
Reserve for losses and loss expenses 13,926,766 12,752,081
Unearned premiums 3,685,886 3,626,246
Insurance and reinsurance balances payable 1,092,042 1,349,082
Debt 1,309,695 1,808,157
Payable for investments purchased 104,777 32,985
Operating lease liabilities 140,263 115,584
Other liabilities 322,564 375,911
Total liabilities 20,581,993 20,060,046
Commitments and Contingencies
Shareholders' equity    
Preferred shares 550,000 775,000
Common shares (shares issued 2020: 176,580; 2019: 176,580 shares outstanding 2020: 84,353; 2019: 83,959) 2,206 2,206
Additional paid-in capital 2,330,054 2,317,212
Accumulated other comprehensive income 414,395 171,710
Retained earnings 5,763,607 6,056,686
Treasury shares, at cost (2020: 92,227; 2019: 92,621) (3,764,568) (3,778,806)
Total shareholders’ equity 5,295,694 5,544,008
Total liabilities and shareholders’ equity $ 25,877,687 $ 25,604,054