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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Investments:    
Fixed maturities, available for sale, at fair value (Amortized cost 2022: $11,865,935; 2021: $12,241,782 Allowance for expected credit losses 2022: $10,504; 2021: $313) $ 10,784,353 $ 12,313,200
Fixed maturities, held to maturity, at amortized cost (Fair value 2022: $663,704; 2021: $445,033 Allowance for expected credit losses 2022: $nil; 2021: $nil) 690,380 446,016
Equity securities, at fair value (Cost 2022: $519,926; 2021: $528,864) 469,839 655,675
Mortgage loans, held for investment, at fair value (Allowance for expected credit losses 2022: $nil; 2021: $nil) 653,700 594,088
Other investments, at fair value 970,310 947,982
Equity method investments 151,333 146,293
Short-term investments, at fair value 80,260 31,063
Total investments 13,800,175 15,134,317
Cash and cash equivalents 1,210,321 844,592
Restricted cash and cash equivalents 624,941 473,098
Accrued interest receivable 77,771 64,350
Insurance and reinsurance premium balances receivable (Allowance for expected credit losses 2022: $8,893; 2021: $7,567) 2,788,484 2,622,676
Reinsurance recoverable on unpaid losses and loss expenses (Allowance for expected credit losses 2022: $29,022; 2021: $29,554) 5,244,263 5,017,611
Reinsurance recoverable on paid losses and loss expenses 438,497 642,215
Deferred acquisition costs 541,544 465,593
Prepaid reinsurance premiums 1,597,586 1,377,358
Receivable for investments sold 6,452 4,555
Goodwill 100,801 100,801
Intangible assets 200,529 208,717
Operating lease right-of-use assets 96,631 103,295
Other assets 391,758 309,792
Total assets 27,119,753 27,368,970
Liabilities    
Reserve for losses and loss expenses 14,652,196 14,653,094
Unearned premiums 4,650,934 4,090,676
Insurance and reinsurance balances payable 1,569,946 1,324,620
Debt 1,312,633 1,310,975
Federal Home Loan Bank advances 80,540 0
Payable for investments purchased 78,956 31,543
Operating lease liabilities 103,345 119,512
Other liabilities 327,780 427,894
Total liabilities 22,776,330 21,958,314
Shareholders’ equity    
Preferred shares 550,000 550,000
Common shares (shares issued 2022: 176,580; 2021: 176,580 shares outstanding 2022: 84,666; 2021: 84,774) 2,206 2,206
Additional paid-in capital 2,354,895 2,346,179
Accumulated other comprehensive income (loss) (1,042,650) 56,536
Retained earnings 6,244,268 6,204,745
Treasury shares, at cost (2022: 91,914; 2021: 91,806) (3,765,296) (3,749,010)
Total shareholders’ equity 4,343,423 5,410,656
Total liabilities and shareholders’ equity $ 27,119,753 $ 27,368,970