Business Segments (Tables)

3 Months Ended

Mar. 31, 2021

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, 2021
Insurance	$	1,604,979	$	105,237	$	8,279	$	1,718,495	$	257,109	$	198,708
Reinsurance & Monoline Excess	244,977		37,708		—		282,685		68,649		54,471
Corporate, other and eliminations (3)	—		15,632		105,218		120,850		(64,529)		(52,606)
Net investment gains	—		—		34,839		34,839		34,839		28,952
Total	$	1,849,956	$	158,577	$	148,336	$	2,156,869	$	296,068	$	229,525
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)

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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, 2021 and 2020 were $196 million and $168 million, respectively. Revenues for Reinsurance & Monoline Excess from foreign countries for the three months ended March 31, 2021 and 2020 were $88 million and $69 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, 2021		December 31, 2020
Insurance	$	21,985,027	$	21,702,328
Reinsurance & Monoline Excess	4,678,740		4,654,158
Corporate, other and eliminations	3,127,507		2,215,479
Consolidated	$	29,791,274	$	28,571,965

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,

(In thousands)	2021		2020
Insurance:
Other liability	$	601,902	$	547,129
Short-tail lines (1)	324,740		295,478
Workers' compensation	267,449		301,600
Commercial automobile	220,761		189,643
Professional liability	190,128		151,105
Total Insurance	1,604,979		1,484,955

Reinsurance & Monoline Excess:
Casualty reinsurance	149,638		122,731
Property reinsurance	49,466		41,571
Monoline excess (2)	45,873		42,161
Total Reinsurance & Monoline Excess	244,977		206,463

Total	$	1,849,956	$	1,691,418

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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.