Business Segments (Tables)

3 Months Ended

Mar. 31, 2020

Financial Information Of Company Operating Segments



	Revenues
(In thousands)	Earned Premiums (1)		Investment Income		Other			Total (2)			Pre-Tax (Loss) Income			Net (Loss) Income to Common Stockholders
Three months ended March 31, 2020
Insurance	$	1,484,955	$	123,458	$	8,473		$	1,616,886		$	175,947		$	140,117
Reinsurance & Monoline Excess	206,463		37,710		—			244,173			36,514			29,187
Corporate, other and eliminations (3)	—		13,595		113,130			126,725			(41,755		)	(33,755		)
Net investment losses	—		—		(177,174		)	(177,174		)	(177,174		)	(139,967		)
Total	$	1,691,418	$	174,763	$	(55,571	)	$	1,810,610		$	(6,468	)	$	(4,418	)
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 investment gains	—		—		68,653			68,653			68,653			54,236
Total	$	1,592,856	$	158,254	$	185,912		$	1,937,022		$	229,439		$	180,722

_________________

(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, 2020 and 2019 were $168 million and $170 million, respectively. Revenues for Reinsurance & Monoline Excess from foreign countries for the three months ended March 31, 2020 and 2019 were $69 million and $59 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, 2020		December 31, 2019
Insurance	$	19,485,407	$	20,005,802
Reinsurance & Monoline Excess	4,405,637		4,710,819
Corporate, other and eliminations	2,198,885		1,913,409
Consolidated	$	26,089,929	$	26,630,030

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)	2020		2019
Insurance:
Other liability	$	547,129	$	490,661
Workers’ compensation	301,600		326,676
Short-tail lines (1)	295,478		289,091
Commercial automobile	189,643		180,925
Professional liability	151,105		139,681
Total Insurance	1,484,955		1,427,034

Reinsurance & Monoline Excess:
Casualty reinsurance	122,731		90,830
Monoline excess (2)	42,161		38,981
Property reinsurance	41,571		36,011
Total Reinsurance & Monoline Excess	206,463		165,822

Total	$	1,691,418	$	1,592,856

______________

(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.