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Consolidated Statements of Operations and Comprehensive Income (loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Gross premiums written $ 6,875,925 $ 7,285,320 $ 6,299,929
Net premiums written 6,300,858 6,909,058 5,803,364
Decrease (increase) in unearned premiums 235,968 (383,840) (289,554)
Net premiums earned 6,536,826 6,525,218 5,513,810
Net investment income 360,668 448,538 415,921
Net realized and unrealized investment gains (losses) 454,319 886,670 (389,632)
Other income 13,491 15,321 50,127
Total revenues 7,365,304 7,875,747 5,590,226
Expenses      
Losses and loss expenses 5,334,900 4,923,156 4,193,255
Acquisition costs 1,356,118 1,455,462 1,237,464
Other expenses 355,647 369,969 305,568
Interest expense 39,200 40,150 43,152
Loss on redemption of debt 0 15,175 0
Amortization of intangible assets 9,988 11,434 35,473
Net foreign exchange losses (gains) 51,964 86,760 (119,151)
Total expenses 7,147,817 6,902,106 5,695,761
Income (loss) before taxes and interest in earnings of equity method investments 217,487 973,641 (105,535)
Income tax (benefit) expense (13,091) 52,536 (8,934)
Interest in earnings of equity method investments 23,611 15,643 10,607
Net income (loss) 254,189 936,748 (85,994)
Preferred dividends 45,990 46,416 46,416
Loss on redemption of preferred shares 2,341 0 0
Net income (loss) attributable to common shareholder 205,858 890,332 (132,410)
Comprehensive income (loss)      
Net income (loss) 254,189 936,748 (85,994)
Change in currency translation adjustment (5,884) 71,796 (74,797)
Change in unfunded pension obligation, net of tax (14,383) (6,803) 24,859
Change in fair value of designated cash flow hedges, net of reclassification adjustment 0 (1,877) 1,877
Change in unrealized gains or losses on investments, net of tax 187 (407) (292)
Other comprehensive (loss) income (20,080) 62,709 (48,353)
Comprehensive income (loss) $ 234,109 $ 999,457 $ (134,347)