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Consolidated Statements Of Operations And Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES:        
Premiums earned $ 2,205,811 $ 1,905,619 $ 6,285,030 $ 5,455,615
Net investment income 234,233 181,058 420,116 501,062
Net realized capital gains (losses):        
Credit allowances on fixed maturity securities 6,196 (19,641)
Other-than-temporary impairments on fixed maturity securities (7,314) (15,404)
Other net realized capital gains (losses) 104,007 (5,629) 103,904 124,965
Total net realized capital gains (losses) 110,203 (12,943) 84,263 109,561
Net derivative gain (loss) 2,456 (189) (1,048) 3,395
Other income (expense) 57,481 (31,025) 48,354 (52,550)
Total revenues 2,610,184 2,042,520 6,836,715 6,017,083
CLAIMS AND EXPENSES:        
Incurred losses and loss adjustment expenses 1,736,210 1,371,924 4,574,066 3,515,104
Commission, brokerage, taxes and fees 445,332 443,076 1,360,170 1,253,500
Other underwriting expenses 138,875 118,158 385,865 321,976
Corporate expenses 10,618 8,435 29,184 22,622
Interest, fees and bond issue cost amortization expense 6,641 7,907 21,477 23,972
Total claims and expenses 2,337,676 1,949,500 6,370,762 5,137,174
INCOME (LOSS) BEFORE TAXES 272,508 93,020 465,953 879,909
Income tax expense (benefit) 29,451 (11,378) 15,404 88,092
NET INCOME (LOSS) 243,057 104,398 450,549 791,817
Other comprehensive income (loss), net of tax :        
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period 63,480 93,765 335,835 524,589
Reclassification adjustment for realized losses (gains) included in net income (loss) (11,453) (529) 12,689 (4,220)
Total URA(D) on securities arising during the period 52,027 93,236 348,524 520,369
Foreign currency translation adjustments 60,628 (3,426) 30,390 (15,206)
Reclassification adjustment for amortization of net (gain) loss included in net income (loss) 1,806 1,363 4,532 3,665
Total benefit plan net gain (loss) for the period 1,806 1,363 4,532 3,665
Total other comprehensive income (loss), net of tax 114,461 91,173 383,446 508,828
COMPREHENSIVE INCOME (LOSS) $ 357,518 $ 195,571 $ 833,995 $ 1,300,645
EARNINGS PER COMMON SHARE:        
Basic $ 6.08 $ 2.56 $ 11.20 $ 19.44
Diluted $ 6.07 $ 2.56 $ 11.18 $ 19.38