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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Investments:    
Fixed maturities, available for sale, at fair value (Amortized cost 2022: $11,840,101; 2021: $12,241,782 Allowance for expected credit losses 2022: $383; 2021: $313) $ 11,456,024 $ 12,313,200
Fixed maturities, held to maturity, at amortized cost (Fair value 2022: $486,432; 2021: $445,033 Allowance for expected credit losses 2022: $nil; 2021: $nil) 493,509 446,016
Equity securities, at fair value (Cost 2022: $480,759; 2021: $528,864) 563,950 655,675
Mortgage loans, held for investment, at fair value (Allowance for expected credit losses 2022: $nil; 2021: $nil) 627,063 594,088
Other investments, at fair value 954,602 947,982
Equity method investments 157,843 146,293
Short-term investments, at fair value 70,385 31,063
Total investments 14,323,376 15,134,317
Cash and cash equivalents 987,111 844,592
Restricted cash and cash equivalents 719,600 473,098
Accrued interest receivable 64,906 64,350
Insurance and reinsurance premium balances receivable (Allowance for expected credit losses 2022: $9,385; 2021: $7,567) 3,163,990 2,622,676
Reinsurance recoverable on unpaid losses and loss expenses (Allowance for expected credit losses 2022: $28,792; 2021: $29,554) 4,957,080 5,017,611
Reinsurance recoverable on paid losses and loss expenses 612,027 642,215
Deferred acquisition costs 575,250 465,593
Prepaid reinsurance premiums 1,555,303 1,377,358
Receivable for investments sold 55,473 4,555
Goodwill 100,801 100,801
Intangible assets 205,988 208,717
Operating lease right-of-use assets 98,837 103,295
Other assets 388,816 309,792
Total assets 27,808,558 27,368,970
Liabilities    
Reserve for losses and loss expenses 14,470,155 14,653,094
Unearned premiums 4,824,128 4,090,676
Insurance and reinsurance balances payable 1,522,258 1,324,620
Debt 1,311,304 1,310,975
Payable for investments purchased 127,284 31,543
Operating lease liabilities 113,340 119,512
Other liabilities 319,549 427,894
Total liabilities 22,688,018 21,958,314
Shareholders’ equity    
Preferred shares 550,000 550,000
Common shares (shares issued 2022: 176,580; 2021: 176,580 shares outstanding 2022: 85,276; 2021: 84,774) 2,206 2,206
Additional paid-in capital 2,328,986 2,346,179
Accumulated other comprehensive income (loss) (338,300) 56,536
Retained earnings 6,308,712 6,204,745
Treasury shares, at cost (2022: 91,304; 2021: 91,806) (3,731,064) (3,749,010)
Total shareholders’ equity 5,120,540 5,410,656
Total liabilities and shareholders’ equity $ 27,808,558 $ 27,368,970