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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Preferred stocks
Common shares (par value)
Additional paid-in capital
Accumulated other comprehensive income (loss)
Unrealized gains (losses) on available-for-sale investments, net of tax
Cumulative foreign currency translation adjustments, net of tax
Retained earnings
Treasury shares, at cost
Balance at beginning of year at Dec. 31, 2020   $ 550,000 $ 2,206 $ 2,330,054 $ 414,395 $ 420,635 $ (6,240) $ 5,763,607 $ (3,764,568)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Shares repurchased                 (10,242)
Treasury shares reissued       (24,655)         25,800
Share-based compensation expense       40,780          
Unrealized gains (losses) arising during the year, net of reclassification adjustment $ (358,480)         (358,480)      
Foreign currency translation adjustment 621           621    
Net income 618,609             618,609  
Preferred share dividends [1]               (30,250)  
Common share dividends [1]               (147,221)  
Balance at end of the year at Dec. 31, 2021 5,410,656 550,000 2,206 2,346,179 56,536 62,155 (5,619) 6,204,745 (3,749,010)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Shares repurchased                 (48,981)
Treasury shares reissued       (31,175)         32,720
Share-based compensation expense       51,249          
Unrealized gains (losses) arising during the year, net of reclassification adjustment (805,850)         (805,850)      
Foreign currency translation adjustment (10,986)           (10,986)    
Net income 223,083             223,083  
Preferred share dividends [1]               (30,250)  
Common share dividends [1]               (150,556)  
Balance at end of the year at Dec. 31, 2022 4,639,910 550,000 2,206 2,366,253 (760,300) (743,695) (16,605) 6,247,022 (3,765,271)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Shares repurchased                 (23,596)
Treasury shares reissued       (40,430)         42,135
Share-based compensation expense       57,207          
Unrealized gains (losses) arising during the year, net of reclassification adjustment 396,036         396,036      
Foreign currency translation adjustment (1,572)           (1,572)    
Net income 376,292             376,292  
Preferred share dividends [1]               (30,250)  
Common share dividends [1]               (152,536)  
Balance at end of the year at Dec. 31, 2023 $ 5,263,196 $ 550,000 $ 2,206 $ 2,383,030 $ (365,836) $ (347,659) $ (18,177) $ 6,440,528 $ (3,746,732)
[1] Refer to Note 15 'Shareholders' Equity' for details on dividends declared and paid related to the Company's common and preferred shares.