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Consolidated Statements Of Operations And Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES:        
Premiums earned $ 2,042,405 $ 1,817,299 $ 4,079,219 $ 3,549,996
Net investment income 38,083 179,028 185,883 320,004
Net realized capital gains (losses):        
Credit allowances on fixed maturity securities (4,063) (25,837)
Other-than-temporary impairments on fixed maturity securities (5,157) 8,090
Other net realized capital gains (losses) 188,711 35,429 (103) 130,594
Total net realized capital gains (losses) 184,648 30,272 (25,940) 122,504
Net derivative gain (loss) 11,869 353 (3,504) 3,584
Other income (expense) (32,490) (18,225) (9,127) (21,525)
Total revenues 2,244,515 2,008,727 4,226,531 3,974,563
CLAIMS AND EXPENSES:        
Incurred losses and loss adjustment expenses 1,407,016 1,094,630 2,837,856 2,143,180
Commission, brokerage, taxes and fees 466,316 420,950 914,838 810,424
Other underwriting expenses 118,130 104,833 246,990 203,818
Corporate expenses 8,733 7,535 18,566 14,187
Interest, fees and bond issue cost amortization expense 7,253 8,434 14,836 16,065
Total claims and expenses 2,007,448 1,636,382 4,033,086 3,187,674
INCOME (LOSS) BEFORE TAXES 237,067 372,345 193,445 786,889
Income tax expense (benefit) 46,187 39,477 (14,047) 99,470
NET INCOME (LOSS) 190,880 332,868 207,492 687,419
Other comprehensive income (loss), net of tax :        
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period 551,753 197,759 272,354 430,824
Reclassification adjustment for realized losses (gains) included in net income (loss) (7,257) (1,869) 24,142 (3,691)
Total URA(D) on securities arising during the period 544,496 195,890 296,496 427,133
Foreign currency translation adjustments 20,586 (25,832) (30,238) (11,780)
Reclassification adjustment for amortization of net (gain) loss included in net income (loss) 1,806 1,151 2,726 2,302
Total benefit plan net gain (loss) for the period 1,806 1,151 2,726 2,302
Total other comprehensive income (loss), net of tax 566,888 171,209 268,984 417,655
COMPREHENSIVE INCOME (LOSS) $ 757,768 $ 504,077 $ 476,476 $ 1,105,074
EARNINGS PER COMMON SHARE:        
Basic $ 4.78 $ 8.17 $ 5.14 $ 16.88
Diluted $ 4.77 $ 8.15 $ 5.13 $ 16.82