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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Net premiums earned $ 1,265,745 $ 1,277,052 $ 2,495,944 $ 2,535,297
Net investment income 136,829 92,214 270,601 183,569
Other insurance related income 5,524 2,213 6,100 8,906
Net investment gains (losses):        
(Increase) decrease in allowance for expected credit losses 354 (6,911) (2,456) (6,981)
Impairment losses (9,083) (473) (9,083) (582)
Other realized and unrealized investment gains (losses) (15,641) (165,879) (33,019) (260,208)
Total net investment gains (losses) (24,370) (173,263) (44,558) (267,771)
Total revenues 1,383,728 1,198,216 2,728,087 2,460,001
Expenses        
Net losses and loss expenses 736,257 769,587 1,456,899 1,502,285
Acquisition costs 253,265 257,582 483,638 505,932
General and administrative expenses 168,503 165,586 335,314 334,627
Foreign exchange losses (gains) 30,104 (57,000) 38,814 (101,274)
Interest expense and financing costs 16,738 15,241 33,632 30,805
Reorganization expenses 0 15,728 0 15,728
Amortization of intangible assets 2,729 2,729 5,458 5,458
Total expenses 1,207,596 1,169,453 2,353,755 2,293,561
Income before income taxes and interest in income (loss) of equity method investments 176,132 28,763 374,332 166,440
Income tax (expense) benefit (27,558) 4,965 (43,454) 4,942
Interest in income (loss) of equity method investments 2,100 1,050 (105) 12,600
Net income 150,674 34,778 330,773 183,982
Preferred share dividends 7,563 7,563 15,125 15,125
Net income available to common shareholders $ 143,111 $ 27,215 $ 315,648 $ 168,857
Earnings per common share:        
Earnings per common share (in usd per share) $ 1.68 $ 0.32 $ 3.71 $ 1.98
Earnings per diluted common share (in usd per share) $ 1.67 $ 0.32 $ 3.68 $ 1.97
Weighted average common shares outstanding (in shares) 85,207 85,173 85,036 85,068
Weighted average diluted common shares outstanding (in shares) 85,812 85,843 85,833 85,826