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Industry Segments
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Industry Segments Industry Segments
The Company’s reportable segments include the following two business segments, plus a corporate segment:
•Insurance - predominantly commercial insurance business, including excess and surplus lines, admitted lines and specialty personal lines throughout the United States, as well as insurance business in Asia, Australia, Canada, Continental Europe, Mexico, Scandinavia, South America and the United Kingdom.
•Reinsurance & Monoline Excess - reinsurance business on a facultative and treaty basis, primarily in the United States, United Kingdom, Continental Europe, Australia, the Asia-Pacific region and South Africa, as well as operations that solely retain risk on an excess basis.
The accounting policies of the segments are the same as those described in the summary of significant accounting policies. Income tax expense and benefits are calculated based upon the Company’s overall effective tax rate.
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		OtherTotal (2)Pre-Tax
Income
(Loss)		Net
Income
(Loss)
to Common Stockholders
Year ended December 31, 2022      
Insurance $8,369,062 $550,084 $33,347 $8,952,493 $1,455,658 $1,173,425 
Reinsurance & Monoline Excess1,192,367 194,272 — 1,386,639 316,527 251,386 
Corporate, other and eliminations (3)— 34,829 590,141 624,970 (254,901)(203,476)
Net investment gains— — 202,397 202,397 202,397 159,727 
Consolidated$9,561,429 $779,185 $825,885 $11,166,499 $1,719,681 $1,381,062 
Year ended December 31, 2021
Insurance$7,077,708 $468,821 $32,063 $7,578,592 $1,219,798 $976,184 
Reinsurance & Monoline Excess1,028,323 175,324 — 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 Excess863,174 146,029 — 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 


Identifiable Assets
(In thousands)December 31,
20222021
Insurance$27,009,652 $24,414,305 
Reinsurance & Monoline Excess5,195,752 4,916,894 
Corporate, other and eliminations (3)1,655,695 2,755,215 
Consolidated$33,861,099 $32,086,414 
_______________________________________
(1) Certain amounts included in earned premiums of each segment are related to inter-segment transactions.
(2) Revenues for Insurance includes $1,029 million, $873 million, and $692 million in 2022, 2021, and 2020, respectively, from foreign countries. Revenues for Reinsurance & Monoline Excess includes $412 million, $380 million, and $292 million in 2022, 2021 and 2020, 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 were as follows:
(In thousands)202220212020
Insurance   
Other liability$3,206,846 $2,673,098 $2,269,458 
Short-tail lines1,630,371 1,389,068 1,247,908 
Workers' compensation1,197,811 1,131,283 1,127,487 
Commercial automobile1,208,241 990,945 794,171 
Professional liability1,125,793 893,314 628,645 
Total Insurance8,369,062 7,077,708 6,067,669 
Reinsurance & Monoline Excess
Casualty764,793 643,193 521,559 
Monoline Excess217,017 201,187 171,522 
Property210,557 183,943 170,093 
Total Reinsurance & Monoline Excess1,192,367 1,028,323 863,174 
Total$9,561,429 $8,106,031 $6,930,843