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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Investments:    
Fixed maturities, available for sale, at fair value (Amortized cost 2021: $11,480,507; 2020: $11,566,930 Allowance for expected credit losses 2021: $234; 2020: $323) $ 11,728,611 $ 12,041,799
Fixed maturities, held to maturity, at amortized cost (Fair value 2021: $404,522 Allowance for expected credit losses 2021: $nil) 404,690 0
Equity securities, at fair value (Cost 2021: $454,451; 2020: $421,744) 547,676 518,445
Mortgage loans, held for investment, at fair value (Allowance for expected credit losses 2021: $nil; 2020: $nil) 629,576 593,290
Other investments, at fair value 790,530 829,156
Equity method investments 123,370 114,209
Short-term investments, at fair value 185,699 161,897
Total investments 14,410,152 14,258,796
Cash and cash equivalents 895,932 902,831
Restricted cash and cash equivalents 664,347 600,401
Accrued interest receivable 61,222 65,020
Insurance and reinsurance premium balances receivable (Allowance for expected credit losses 2021: $12,218; 2020: $8,836) 3,367,142 2,738,342
Reinsurance recoverable on unpaid losses and loss expenses (Allowance for expected credit losses 2021: $25,118; 2020: $23,711) 4,533,232 4,496,641
Reinsurance recoverable on paid losses and loss expenses 459,411 434,201
Deferred acquisition costs 577,509 431,439
Prepaid reinsurance premiums 1,379,450 1,194,455
Receivable for investments sold 1,450 2,150
Goodwill 100,801 100,801
Intangible assets 216,904 219,633
Value of business acquired 2,826 3,854
Operating lease right-of-use assets 116,693 123,579
Other assets 298,756 305,544
Total assets 27,085,827 25,877,687
Liabilities    
Reserve for losses and loss expenses 14,025,274 13,926,766
Unearned premiums 4,551,424 3,685,886
Insurance and reinsurance balances payable 1,231,403 1,092,042
Debt 1,310,009 1,309,695
Payable for investments purchased 389,925 104,777
Operating lease liabilities 134,002 140,263
Other liabilities 267,400 322,564
Total liabilities 21,909,437 20,581,993
Shareholders’ equity    
Preferred shares 550,000 550,000
Common shares (shares issued 2021: 176,580; 2020: 176,580 shares outstanding 2021: 84,753; 2020: 84,353) 2,206 2,206
Additional paid-in capital 2,316,147 2,330,054
Accumulated other comprehensive income 214,861 414,395
Retained earnings 5,842,850 5,763,607
Treasury shares, at cost (2021: 91,827; 2020: 92,227) (3,749,674) (3,764,568)
Total shareholders’ equity 5,176,390 5,295,694
Total liabilities and shareholders’ equity $ 27,085,827 $ 25,877,687