XML 105 R87.htm IDEA: XBRL DOCUMENT v3.22.4
Operating Segment Information - Summary of Segments (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Net premiums earned $ 1,144,436 $ 980,903 $ 865,747
Net investment income 86,078 68,862 67,893
Net realized gains 588,515 64,222 17,885
Net unrealized gains (losses) on equity securities (121,037) 65,258 32,101
Consolidated revenue 1,697,992 1,179,245 983,626
INSURANCE EXPENSES      
Loss and settlement expenses 514,376 456,602 442,884
Policy acquisition costs 369,632 317,468 286,438
Other insurance expenses 82,212 76,907 66,828
Insurance expenses 966,220 850,977 796,150
Net Earnings      
Net underwriting income 178,216 129,926 69,597
Net investment income 86,078 68,862 67,893
Net realized gains 588,515 64,222 17,885
Net unrealized gains (losses) on equity securities (121,037) 65,258 32,101
Interest on debt (8,047) (7,677) (7,603)
General corporate expense (12,900) (13,330) (10,265)
Equity in earnings of unconsolidated investees 9,853 37,060 20,233
Earnings (losses) before income taxes 720,678 344,321 189,841
Income tax expense 137,267 64,967 32,750
Net earnings (losses) 583,411 279,354 157,091
Casualty Segment      
Revenues      
Net premiums earned 711,832 633,639 569,521
INSURANCE EXPENSES      
Loss and settlement expenses 381,436 311,627 322,099
Policy acquisition costs 204,397 179,354 162,058
Other insurance expenses 52,210 47,139 40,937
Net Earnings      
Net underwriting income 73,789 95,519 44,427
Property segment      
Revenues      
Net premiums earned 307,886 231,837 183,720
INSURANCE EXPENSES      
Loss and settlement expenses 120,745 129,924 111,356
Policy acquisition costs 95,203 72,008 59,926
Other insurance expenses 19,416 18,605 15,620
Net Earnings      
Net underwriting income 72,522 11,300 (3,182)
Surety Segment      
Revenues      
Net premiums earned 124,718 115,427 112,506
INSURANCE EXPENSES      
Loss and settlement expenses 12,195 15,051 9,429
Policy acquisition costs 70,032 66,106 64,454
Other insurance expenses 10,586 11,163 10,271
Net Earnings      
Net underwriting income $ 31,905 $ 23,107 $ 28,352