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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Assets    
Fixed maturities, at fair value (amortized cost: 2022, $14,925,319; 2021, $14,181,310) $ 13,021,914 $ 14,071,274
Short-term investments, at fair value (amortized cost: 2022, $536,139; 2021, $213,047) 523,510 205,146
Equities, at fair value (cost: 2022, $586,107; 2021, $903,314) 929,886 1,751,584
Investments in real estate 57,984 67,539
Other invested assets 3,355,106 3,601,245
Total investments 17,888,400 19,696,788
Cash and cash equivalents (restricted: 2022, $137,782; 2021: $104,971) 1,251,596 660,897
Accrued investment income 103,752 94,997
Reinsurance balances receivable 3,342,612 3,063,153
Reinsurance recoverable on paid and unpaid losses 1,959,652 1,787,493
Prepaid reinsurance premiums 247,276 216,338
Funds held by reinsured companies 471,570 561,576
Deferred acquisition costs 1,012,850 920,779
Deposit assets 81,053 109,528
Net tax assets 164,384 154,472
Goodwill 456,380 456,380
Intangible assets 89,769 98,818
Other assets 203,119 208,652
Total assets 27,272,413 28,029,871
Liabilities    
Non-life reserves 12,725,631 12,047,792
Life and health reserves 2,510,293 2,638,086
Unearned premiums 2,745,371 2,501,161
Other reinsurance balances payable 632,336 744,735
Debt 1,848,003 1,897,499
Deposit liabilities 4,681 5,077
Net tax liabilities 29,154 90,974
Accounts payable, accrued expenses and other 488,594 560,561
Total liabilities 20,984,063 20,485,885
Shareholders’ Equity    
Common shares (par value $0.00000001; issued and outstanding: 100,000,000 shares) 0 0
Preferred shares (par value $1.00; issued and outstanding: 8,000,000 shares; aggregate liquidation value: $200,000) 8,000 8,000
Additional paid-in capital 1,929,934 1,929,934
Accumulated other comprehensive loss (7,669) (29,706)
Retained earnings 4,358,085 5,635,758
Total shareholders’ equity 6,288,350 7,543,986
Total liabilities and shareholders’ equity $ 27,272,413 $ 28,029,871