Industry Segments (Tables)

12 Months Ended

Dec. 31, 2021

Financial Information Of Company Operating Segments

Summary financial information about the Company’s reporting segments is presented in the following table. Income before income taxes by segment includes allocated investment income. Identifiable assets by segment are those assets used in or allocated to the operation of each segment.


	Revenues
(In thousands)	Earned Premiums (1)		Investment Income		Other		Total (2)		Pre-Tax Income (Loss)		Net Income (Loss) to Common Stockholders
Year ended December 31, 2021
Insurance	$	7,077,708	$	468,821	$	32,063	$	7,578,592	$	1,219,798	$	976,184
Reinsurance & Monoline Excess	1,028,323		175,324		—		1,203,647		270,563		215,439
Corporate, other and eliminations (3)	—		27,473		555,122		582,595		(298,088)		(242,055)
Net investment gains	—		—		90,632		90,632		90,632		72,922
Consolidated	$	8,106,031	$	671,618	$	677,817	$	9,455,466	$	1,282,905	$	1,022,490

Year ended December 31, 2020
Insurance	$	6,067,669	$	375,554	$	35,611	$	6,478,834	$	668,012	$	487,125
Reinsurance & Monoline Excess	863,174		146,029		—		1,009,203		205,587		164,655
Corporate, other and eliminations (3)	—		62,238		445,650		507,888		(271,797)		(214,291)
Net investment gains	—		—		103,000		103,000		103,000		93,181
Consolidated	$	6,930,843	$	583,821	$	584,261	$	8,098,925	$	704,802	$	530,670

Year ended December 31, 2019
Insurance	$	5,919,819	$	429,405	$	47,850	$	6,397,074	$	814,862	$	650,510
Reinsurance & Monoline Excess	713,469		164,082		—		877,551		189,188		152,046
Corporate, other and eliminations (3)	—		52,127		454,741		506,868		(271,833)		(215,967)
Net investment gains	—		—		120,703		120,703		120,703		95,355
Consolidated	$	6,633,288	$	645,614	$	623,294	$	7,902,196	$	852,920	$	681,944

Identifiable Assets by Segments


Identifiable Assets
(In thousands)	December 31,
	2021		2020
Insurance	$	24,414,305	$	21,739,360
Reinsurance & Monoline Excess	4,916,894		4,652,074
Corporate, other and eliminations (3)	2,755,215		2,215,479
Consolidated	$	32,086,414	$	28,606,913

_______________________________________

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

(2) Revenues for Insurance includes $873 million, $692 million, and $725 million in 2021, 2020, and 2019, respectively, from foreign countries. Revenues for Reinsurance & Monoline Excess includes $380 million, $292 million, and $250 million in 2021, 2020 and 2019, respectively, from foreign countries.

(3) Corporate, other and eliminations represent corporate revenues and expenses and other items that are not allocated to

business segments.

Net Premiums Earned By Major Line Of Business

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


(In thousands)	2021		2020		2019
Insurance
Other liability	$	2,639,601	$	2,237,285	$	2,063,401
Short-tail lines	1,389,068		1,247,908		1,223,902
Workers' compensation	1,131,283		1,127,487		1,301,980
Commercial automobile	990,945		794,171		750,051
Professional liability	926,811		660,818		580,485
Total Insurance	7,077,708		6,067,669		5,919,819
Reinsurance & Monoline Excess
Casualty	643,193		521,559		405,063
Monoline Excess	201,187		171,522		160,071
Property	183,943		170,093		148,335
Total Reinsurance & Monoline Excess	1,028,323		863,174		713,469
Total	$	8,106,031	$	6,930,843	$	6,633,288