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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Net premiums earned $ 5,160,326 $ 4,709,850 $ 4,371,309
Net investment income 418,829 454,301 349,601
Other insurance related income (loss) 13,073 23,295 (8,089)
Net investment gains:      
Allowance for expected credit losses (11,421) 11 (323)
Impairment losses (12,568) (22) (1,486)
Other realized and unrealized investment gains (losses) (432,800) 134,290 130,942
Total net investment gains (losses) (456,789) 134,279 129,133
Total revenues 5,135,439 5,321,725 4,841,954
Expenses      
Net losses and loss expenses 3,242,410 3,008,783 3,281,252
Acquisition costs 1,022,017 921,834 929,517
General and administrative expenses 680,343 663,304 579,790
Foreign exchange losses (gains) (157,945) 315 81,069
Interest expense and financing costs 63,146 62,302 75,049
Reorganization expenses 31,426 0 7,881
Amortization of value of business acquired 0 3,854 5,139
Amortization of intangible assets 10,917 12,424 11,390
Total expenses 4,892,314 4,672,816 4,971,087
Income (loss) before income taxes and interest in income (loss) of equity method investments 243,125 648,909 (129,133)
Income tax (expense) benefit (22,037) (62,384) 12,321
Interest in income (loss) of equity method investments 1,995 32,084 (3,612)
Net income (loss) 223,083 618,609 (120,424)
Preferred share dividends 30,250 30,250 30,250
Net income (loss) available (attributable) to common shareholders $ 192,833 $ 588,359 $ (150,674)
Earnings (loss) per common share:      
Earnings (loss) per common share (in dollars per share) $ 2.27 $ 6.95 $ (1.79)
Earnings (loss) per diluted common share (in dollars per share) $ 2.25 $ 6.90 $ (1.79)
Weighted average common shares outstanding (in shares) 84,864 84,707 84,262
Weighted average diluted common shares outstanding (in shares) 85,669 85,291 84,262