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Consolidated Statements Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUES:        
Net premiums written $ 3,351,439 $ 3,126,779 $ 6,484,742 $ 5,978,070
Change in net unearned premiums (253,254) (280,364) (374,176) (367,308)
Net premiums earned 3,098,185 2,846,415 6,110,566 5,610,762
Net investment income 379,303 372,129 739,595 691,967
Net realized and unrealized gains (losses) on investments 30,533 (60,306) 46,244 (48,803)
Change in allowance for expected credit losses on investments 440 1,794 1,084 16,070
Net investment gains (losses) 30,973 (58,512) 47,328 (32,733)
Revenues from non-insurance businesses 128,839 125,705 257,748 246,696
Insurance service fees 32,757 27,597 61,686 52,917
Other income 751 698 1,284 1,196
Total revenues 3,670,808 3,314,032 7,218,207 6,570,805
OPERATING COSTS AND EXPENSES:        
Losses and loss expenses 1,955,424 1,780,596 3,856,216 3,444,374
Other operating costs and expenses 1,039,307 892,935 1,989,217 1,761,524
Expenses from non-insurance businesses 122,437 121,120 248,801 239,727
Interest expense 31,777 31,708 63,504 63,436
Total 3,148,945 2,826,359 6,157,738 5,509,061
Income before income taxes 521,863 487,673 1,060,469 1,061,744
Income tax expense (121,155) (115,788) (242,411) (247,824)
Net income before noncontrolling interests 400,708 371,885 818,058 813,920
Noncontrolling interests 580 24 802 460
Net Income (Loss) to Common Stockholders $ 401,288 $ 371,909 $ 818,860 $ 814,380
NET INCOME PER SHARE:        
Basic (in dollar per share) $ 1.01 $ 0.93 $ 2.06 $ 2.03
Diluted (in dollar per share) $ 1.00 $ 0.92 $ 2.05 $ 2.01