Business Segments (Tables)

3 Months Ended

Mar. 31, 2019

Financial Information Of Company Operating Segments



	Revenues
(In thousands)	Earned Premiums (1)		Investment Income		Other		Total (2)		Pre-Tax Income (Loss)			Net Income (Loss) to Common Stockholders
Three months ended March 31, 2019
Insurance	$	1,427,034	$	100,041	$	13,244	$	1,540,319	$	184,516		$	145,993
Reinsurance & Monoline Excess	165,822		39,574		—		205,396		44,855			35,525
Corporate, other and eliminations (3)	—		18,639		104,015		122,654		(68,585		)	(55,032		)
Net realized and unrealized gains on investments	—		—		68,653		68,653		68,653			54,236
Total	$	1,592,856	$	158,254	$	185,912	$	1,937,022	$	229,439		$	180,722
Three months ended March 31, 2018
Insurance	$	1,391,289	$	113,497	$	18,968	$	1,523,754	$	198,929		$	157,733
Reinsurance & Monoline Excess	176,119		47,015		—		223,134		44,691			35,546
Corporate, other and eliminations (3)	—		14,006		81,889		95,895		(81,094		)	(65,170		)
Net realized and unrealized gains on investments	—		—		48,464		48,464		48,464			38,287
Total	$	1,567,408	$	174,518	$	149,321	$	1,891,247	$	210,990		$	166,396

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(1)Certain amounts included in earned premiums of each segment are related to inter-segment transactions.

(2)Revenues for Insurance from foreign countries for the three months ended March 31, 2019 and 2018 were $170 million and $183 million, respectively. Revenues for Reinsurance & Monoline Excess from foreign countries for the three months ended March 31, 2019 and 2018 were $59 million and $56 million, respectively.

(3)

Corporate, other and eliminations represent corporate revenues and expenses that are not allocated to business segments

Identifiable Assets By Segment



(In thousands)	March 31, 2019		December 31, 2018
Insurance	$	18,591,713	$	18,214,293
Reinsurance & Monoline Excess	4,512,257		4,371,151
Corporate, other and eliminations	2,481,290		2,310,533
Consolidated	$	25,585,260	$	24,895,977

Net Premiums Earned By Major Line Of Business

Net premiums earned by major line of business are as follows:



	For the Three Months Ended March 31,
	For the Three Months Ended March 31,
(In thousands)	2019		2018
Insurance:
Other liability	$	490,661	$	464,167
Workers’ compensation	326,676		324,978
Short-tail lines (1)	289,091		295,027
Commercial automobile	180,925		175,199
Professional liability	139,681		131,918
Total Insurance	1,427,034		1,391,289

Reinsurance & Monoline Excess:
Casualty reinsurance	90,830		90,570
Monoline excess (2)	38,981		41,048
Property reinsurance	36,011		44,501
Total Reinsurance & Monoline Excess	165,822		176,119

Total	$	1,592,856	$	1,567,408

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(1) Short-tail lines include commercial multi-peril (non-liability), inland marine, accident and health, fidelity and surety, boiler and machinery and other lines.

(2) Monoline excess includes operations that solely retain risk on an excess basis.