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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Jun. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
REVENUES:        
Net premiums written $ 1,423,625 $ 1,275,887 $ 4,142,489 $ 3,670,404
Change in net unearned premiums (94,763) (89,354) (298,993) (236,863)
Net premiums earned 1,328,862 1,186,533 3,843,496 3,433,541
Net investment income 125,634 116,019 405,300 434,888
Insurance service fees 26,121 26,208 80,509 77,121
Net investment gains 43,869 17,226 96,896 84,989
Change in valuation allowance, net of other-than-temporary impairments 0 5,000 0 9,014
Revenues from wholly-owned investees 109,390 68,087 284,900 173,196
Other income 248 1,428 754 2,204
Total revenues 1,634,124 1,420,501 4,711,855 4,214,953
OPERATING COSTS AND EXPENSES:        
Losses and loss expenses 798,276 736,632 2,348,425 2,147,306
Other operating costs and expenses 504,096 451,487 1,479,986 1,332,024
Expenses from wholly-owned investees 103,170 66,177 273,615 172,438
Interest expense 30,349 32,512 92,667 93,750
Total operating costs and expenses 1,435,891 1,286,808 4,194,693 3,745,518
Income before income taxes 198,233 133,693 517,162 469,435
Income tax expense (60,045) (32,685) (147,249) (124,291)
Net income before noncontrolling interests 138,188 101,008 369,913 345,144
Noncontrolling interests (1,214) (61) (367) (41)
Net income to common stockholders $ 136,974 $ 100,947 $ 369,546 $ 345,103
NET INCOME PER SHARE:        
Basic $ 1.01 $ 0.74 $ 2.72 $ 2.51
Diluted $ 0.97 $ 0.71 $ 2.62 $ 2.41