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Consolidated Statements of Operations and Comprehensive Income (loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Gross premiums written $ 7,285,320 $ 6,299,929 $ 5,587,894
Net premiums written 6,909,058 5,803,364 5,119,926
Increase in unearned premiums (383,840) (289,554) (94,945)
Net premiums earned 6,525,218 5,513,810 5,024,981
Net investment income 448,538 415,921 402,071
Net realized and unrealized investment gains (losses) 886,670 (389,632) 232,491
Other income 15,321 50,127 15,242
Total revenues 7,875,747 5,590,226 5,674,785
Expenses      
Losses and loss expenses 4,923,156 4,193,255 3,840,982
Acquisition costs 1,455,462 1,237,464 1,119,773
Other expenses 369,969 305,568 348,398
Interest expense 40,150 43,152 42,500
Loss on redemption of debt 15,175 0 1,566
Amortization of intangible assets 11,434 35,473 24,646
Net foreign exchange losses (gains) 86,760 (119,151) 108,244
Total expenses 6,902,106 5,695,761 5,486,109
Income (loss) before taxes and interest in earnings of equity method investments 973,641 (105,535) 188,676
Income tax expense (benefit) 52,536 (8,934) 10,358
Interest in earnings of equity method investments 15,643 10,607 85,703
Net income (loss) 936,748 (85,994) 264,021
Preferred dividends 46,416 46,416 46,416
Net income (loss) attributable to common shareholder 890,332 (132,410) 217,605
Comprehensive income (loss)      
Net income (loss) 936,748 (85,994) 264,021
Change in currency translation adjustment 71,796 (74,797) (15,135)
Change in unfunded pension obligation, net of tax (6,803) 24,859 (274)
Change in fair value of designated cash flow hedges, net of reclassification adjustment (1,877) 1,877 0
Change in unrealized gains or losses on investments, net of tax (407) (292) (303)
Other comprehensive income (loss) 62,709 (48,353) (15,712)
Comprehensive income (loss) $ 999,457 $ (134,347) $ 248,309