v3.26.1
Consolidated Statements Of Income And Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
OPERATING REVENUES    
Earned premiums $ 2,048,886 $ 2,089,374
Net investment income 255,890 237,095
Products revenues 572,421 561,124
Services and other revenues 673,408 660,583
Total Operating Revenues 3,550,605 3,548,176
Net investment gains (losses) (727,562) (149,071)
OPERATING EXPENSES    
Losses and loss adjustment expenses 1,166,817 1,254,665
Underwriting, acquisition, and insurance expenses 739,828 747,438
Products expenses 517,430 499,908
Services and other expenses 628,784 567,628
Amortization of acquired intangible assets 43,513 46,942
Total Operating Expenses 3,096,372 3,116,581
Operating Income (Loss) (273,329) 282,524
Interest expense (50,886) (52,140)
Net foreign exchange gains (losses) 54,277 (72,633)
Income (Loss) Before Income Taxes (269,938) 157,751
Income tax (expense) benefit 65,582 (28,404)
Net Income (Loss) (204,356) 129,347
Net income attributable to noncontrolling interests (7,933) (7,633)
Net Income (Loss) to Shareholders (212,289) 121,714
OTHER COMPREHENSIVE INCOME (LOSS)    
Change in net unrealized losses on available-for-sale investments, net of taxes (133,821) 218,377
Other, net of taxes 5,717 7,552
Total Other Comprehensive Income (Loss) (128,104) 225,929
Comprehensive Income (Loss) (332,460) 355,276
Comprehensive income attributable to noncontrolling interests (7,970) (7,606)
Comprehensive Income (Loss) to Shareholders $ (340,430) $ 347,670
NET INCOME (LOSS) PER COMMON SHARE    
Basic $ (18.90) $ 12.11
Diluted $ (18.90) [1] $ 12.08
[1] The impact of 39 thousand shares from restricted stock units and restricted stock awards was excluded from the computation of diluted earnings per common share for the three months ended March 31, 2026 because the effect would have been anti-dilutive.