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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues    
Net premiums earned $ 1,340,820 $ 1,258,041
Net investment income 207,713 167,383
Other insurance related income 3,578 8,340
Net investment gains (losses):    
(Increase) decrease in allowance for expected credit losses (2,729) 4,664
Impairment losses (1,926) (8)
Other realized and unrealized investment gains (losses) (25,350) (13,863)
Total net investment gains (losses) (30,005) (9,207)
Total revenues 1,522,106 1,424,557
Expenses    
Net losses and loss expenses 785,925 728,671
Acquisition costs 264,581 254,254
General and administrative expenses 159,163 163,373
Foreign exchange losses (gains) 57,034 (23,552)
Interest expense and financing costs 16,572 17,147
Reorganization expenses 0 12,299
Amortization of intangible assets 2,729 2,729
Total expenses 1,286,004 1,154,921
Income before income taxes and interest in income of equity method investments 236,102 269,636
Income tax (expense) benefit (44,322) 124,654
Interest in income of equity method investments 2,291 1,169
Net income 194,071 395,459
Preferred share dividends 7,563 7,563
Net income available to common shareholders $ 186,508 $ 387,896
Earnings per common share:    
Earnings per common share (in usd per share) $ 2.30 $ 4.57
Earnings per diluted common share (in usd per share) $ 2.26 $ 4.53
Weighted average common shares outstanding (in shares) 81,152 84,879
Weighted average diluted common shares outstanding (in shares) 82,378 85,693