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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Investments:    
Fixed maturities, available for sale, at fair value (Amortized cost 2022: $12,086,129; 2021: $12,241,782 Allowance for expected credit losses 2022: $7,294; 2021: $313) $ 11,304,682 $ 12,313,200
Fixed maturities, held to maturity, at amortized cost (Fair value 2022: $619,891; 2021: $445,033 Allowance for expected credit losses 2022: $nil; 2021: $nil) 641,428 446,016
Equity securities, at fair value (Cost 2022: $523,198; 2021: $528,864) 522,161 655,675
Mortgage loans, held for investment, at fair value (Allowance for expected credit losses 2022: $nil; 2021: $nil) 656,112 594,088
Other investments, at fair value 981,774 947,982
Equity method investments 158,893 146,293
Short-term investments, at fair value 65,683 31,063
Total investments 14,330,733 15,134,317
Cash and cash equivalents 844,910 844,592
Restricted cash and cash equivalents 653,018 473,098
Accrued interest receivable 73,873 64,350
Insurance and reinsurance premium balances receivable (Allowance for expected credit losses 2022: $10,967; 2021: $7,567) 3,174,117 2,622,676
Reinsurance recoverable on unpaid losses and loss expenses (Allowance for expected credit losses 2022: $28,401; 2021: $29,554) 5,008,583 5,017,611
Reinsurance recoverable on paid losses and loss expenses 510,613 642,215
Deferred acquisition costs 576,237 465,593
Prepaid reinsurance premiums 1,656,643 1,377,358
Receivable for investments sold 10,421 4,555
Goodwill 100,801 100,801
Intangible assets 203,259 208,717
Operating lease right-of-use assets 94,451 103,295
Other assets 381,768 309,792
Total assets 27,619,427 27,368,970
Liabilities    
Reserve for losses and loss expenses 14,398,039 14,653,094
Unearned premiums 4,963,138 4,090,676
Insurance and reinsurance balances payable 1,624,184 1,324,620
Debt 1,311,637 1,310,975
Payable for investments purchased 186,921 31,543
Operating lease liabilities 105,129 119,512
Other liabilities 327,748 427,894
Total liabilities 22,916,796 21,958,314
Shareholders’ equity    
Preferred shares 550,000 550,000
Common shares (shares issued 2022: 176,580; 2021: 176,580 shares outstanding 2022: 84,655; 2021: 84,774) 2,206 2,206
Additional paid-in capital 2,341,507 2,346,179
Accumulated other comprehensive income (loss) (724,114) 56,536
Retained earnings 6,298,680 6,204,745
Treasury shares, at cost (2022: 91,925; 2021: 91,806) (3,765,648) (3,749,010)
Total shareholders’ equity 4,702,631 5,410,656
Total liabilities and shareholders’ equity $ 27,619,427 $ 27,368,970