CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
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| Revenues | ||||
| Net premiums earned | $ 1,393,431 | $ 1,304,478 | $ 2,734,251 | $ 2,562,519 |
| Net investment income | 187,297 | 190,975 | 395,009 | 358,358 |
| Other insurance related income | 8,662 | 8,526 | 12,240 | 16,867 |
| Net investment gains (losses): | ||||
| Increase in allowance for expected credit losses | (2,332) | (12,963) | (5,062) | (8,300) |
| Impairment losses | (400) | (156) | (2,326) | (164) |
| Other realized and unrealized investment gains (losses) | 46,200 | (40,360) | 20,850 | (54,223) |
| Total net investment gains (losses) | 43,468 | (53,479) | 13,462 | (62,687) |
| Total revenues | 1,632,858 | 1,450,500 | 3,154,962 | 2,875,057 |
| Expenses | ||||
| Net losses and loss expenses | 801,754 | 765,988 | 1,587,679 | 1,494,659 |
| Acquisition costs | 275,897 | 265,091 | 540,477 | 519,345 |
| General and administrative expenses | 161,078 | 148,441 | 320,241 | 311,813 |
| Foreign exchange losses (gains) | 94,885 | (7,384) | 151,920 | (30,936) |
| Interest expense and financing costs | 16,586 | 17,010 | 33,158 | 34,157 |
| Reorganization expenses | 0 | 14,014 | 0 | 26,312 |
| Amortization of intangible assets | 2,396 | 2,729 | 5,125 | 5,458 |
| Total expenses | 1,352,596 | 1,205,889 | 2,638,600 | 2,360,808 |
| Income before income taxes and interest in income (loss) of equity method investments | 280,262 | 244,611 | 516,362 | 514,249 |
| Income tax (expense) benefit | (56,199) | (40,547) | (100,521) | 84,107 |
| Interest in income (loss) of equity method investments | (705) | 7,900 | 1,586 | 9,069 |
| Net income | 223,358 | 211,964 | 417,427 | 607,425 |
| Preferred share dividends | 7,563 | 7,563 | 15,125 | 15,125 |
| Net income available to common shareholders | $ 215,795 | $ 204,401 | $ 402,302 | $ 592,300 |
| Earnings per common share: | ||||
| Earnings per common share (in usd per share) | $ 2.75 | $ 2.42 | $ 5.04 | $ 6.99 |
| Earnings per diluted common share (in usd per share) | $ 2.72 | $ 2.40 | $ 4.98 | $ 6.93 |
| Weighted average common shares outstanding (in shares) | 78,378 | 84,475 | 79,757 | 84,677 |
| Weighted average diluted common shares outstanding (in shares) | 79,329 | 85,326 | 80,845 | 85,509 |
| X | ||||||||||
- Definition Amount of increase (decrease) in the total allowance for credit loss of investments. No definition available.
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- Definition The net gain or loss (both realized and unrealized) related to investments in certain entities that calculate net asset value per share and the amount after accretion (amortization) of discount (premium) of interest income and dividend income on nonoperating securities, net of investment expense. No definition available.
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- Definition This item represents the net realized gains and losses on available for sale debt securities, the net realized and unrealized gains and losses on equity securities with FV recorded in net income, together with the change in fair value of investment derivatives, and expected and realized credit losses. No definition available.
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The total amount of expense recognized during the period for future policy benefits, claims and claims adjustment costs, and for selling, general and administrative costs. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount, excluding accrued interest, of decrease in allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale) from writeoff. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of amortization expense (reversal of expense) for deferred policy acquisition costs. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before tax, of realized and unrealized gain (loss) from foreign currency transaction. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after effects of reinsurance, of expense (reversal of expense) for claims incurred and costs incurred in the claim settlement process. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of realized and unrealized gain (loss) on investment in marketable security. No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
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- Definition Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of restructuring charges, remediation cost, and asset impairment loss. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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