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Consolidated Statements Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES:        
Net premiums written $ 1,739,818 $ 1,743,464 $ 3,585,664 $ 3,453,065
Change in net unearned premiums (62,903) (96,623) (217,331) (213,368)
Net premiums earned 1,676,915 1,646,841 3,368,333 3,239,697
Net investment income 85,431 188,333 260,194 346,587
Net realized and unrealized gains (losses) on investments 61,653 73,574 (81,632) 142,226
Change in allowance for expected credit losses on investments 16,232 0 (17,657) 0
Net investment gains (losses) 77,885 73,574 (99,289) 142,226
Revenues from non-insurance businesses 75,742 89,297 169,471 181,124
Insurance service fees 19,870 22,446 45,621 47,759
Other income 183 2,893 2,305 3,013
Total revenues 1,936,026 2,023,384 3,746,635 3,960,406
OPERATING COSTS AND EXPENSES:        
Losses and loss expenses 1,135,126 1,028,830 2,242,379 2,017,479
Other operating costs and expenses 580,840 591,828 1,159,173 1,179,916
Expenses from non-insurance businesses 76,238 88,272 170,996 178,397
Interest expense 38,373 40,718 75,105 81,439
Total operating costs and expenses 1,830,577 1,749,648 3,647,653 3,457,231
Income before income taxes 105,449 273,736 98,982 503,175
Income tax expense (33,793) (56,309) (30,852) (104,134)
Net income before noncontrolling interests 71,656 217,427 68,130 399,041
Noncontrolling interests (396) (718) (1,288) (1,610)
Net income to common stockholders $ 71,260 $ 216,709 $ 66,842 $ 397,431
NET INCOME PER SHARE:        
Basic (in dollar per share) $ 0.38 $ 1.14 $ 0.36 $ 2.09
Diluted (in dollar per share) $ 0.38 $ 1.12 $ 0.35 $ 2.06