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Consolidated Statements of Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Net premiums earned $ 11,364.8 $ 9,973.5 $ 32,767.3 $ 29,052.8
Investment income 208.9 230.5 639.8 715.5
Net realized gains (losses) on securities:        
Net realized gains (losses) on security sales 53.9 195.9 607.8 771.1
Net holding period gains (losses) on securities (15.9) 336.7 479.8 98.7
Net impairment losses recognized in earnings (1.2) 0.0 (3.7) 0.0
Total net realized gains (losses) on securities 36.8 532.6 1,083.9 869.8
Fees and other revenues 174.9 151.8 516.8 434.8
Service revenues 73.8 58.8 202.1 169.4
Total revenues 11,859.2 10,947.2 35,209.9 31,242.3
Expenses        
Losses and loss adjustment expenses 9,250.7 6,713.1 24,767.6 18,189.7
Policy acquisition costs 951.5 835.2 2,754.7 2,413.5
Other underwriting expenses 1,384.4 1,330.9 4,306.0 4,179.7
Policyholder credit expense 0.0 29.0 0.0 1,062.4
Investment expenses 6.6 4.7 18.5 14.5
Service expenses 72.8 54.4 190.0 154.7
Interest expense 54.2 56.4 167.0 160.8
Total expenses 11,720.2 9,023.7 32,203.8 26,175.3
Net Income        
Income before income taxes 139.0 1,923.5 3,006.1 5,067.0
Provision for income taxes 20.5 392.7 617.5 1,046.7
Net income 118.5 1,530.8 2,388.6 4,020.3
Other Comprehensive Income (Loss)        
Total net unrealized gains (losses) on fixed-maturity securities (129.8) (24.6) (578.3) 605.6
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 0.1 0.2 0.6 0.6
Foreign currency translation adjustment (0.2) 0.0 (0.7) 0.0
Other comprehensive income (loss) (129.9) (24.4) (578.4) 606.2
Comprehensive income (loss) (11.4) 1,506.4 1,810.2 4,626.5
Computation of Earnings Per Common Share        
Net income 118.5 1,530.8 2,388.6 4,020.3
Less: Preferred share dividends 6.7 6.7 20.1 20.1
Net income available to common shareholders $ 111.8 $ 1,524.1 $ 2,368.5 $ 4,000.2
Average common shares outstanding - Basic 584.7 585.1 584.7 584.9
Net effect of dilutive stock-based compensation 2.4 2.7 2.6 2.8
Total average equivalent common shares - Diluted 587.1 587.8 587.3 587.7
Basic: Earnings per common share $ 0.19 $ 2.60 $ 4.05 $ 6.84
Diluted: Earnings per common share $ 0.19 $ 2.59 $ 4.03 $ 6.81