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Consolidated Statements Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUES:        
Net premiums written $ 2,811,515 $ 2,585,635 $ 5,386,339 $ 4,998,889
Change in net unearned premiums (258,788) (228,477) (342,180) (392,645)
Net premiums earned 2,552,727 2,357,158 5,044,159 4,606,244
Net investment income 245,152 171,574 468,551 345,086
Net realized and unrealized gains (losses) on investments 68,647 (163,935) 91,258 205,947
Change in allowance for expected credit losses on investments (9,993) (7,620) (9,594) (11,237)
Net investment gains (losses) 58,654 (171,555) 81,664 194,710
Revenues from non-insurance businesses 113,910 128,421 238,110 226,197
Insurance service fees 25,471 26,393 58,328 54,344
Other income 0 896 106 1,716
Total revenues 2,995,914 2,512,887 5,890,918 5,428,297
OPERATING COSTS AND EXPENSES:        
Losses and loss expenses 1,569,654 1,435,817 3,108,409 2,775,069
Other operating costs and expenses 823,682 699,819 1,649,255 1,413,718
Expenses from non-insurance businesses 113,538 122,966 236,306 217,822
Interest expense 31,856 31,723 63,692 66,693
Total operating costs and expenses 2,538,730 2,290,325 5,057,662 4,473,302
Income before income taxes 457,184 222,562 833,256 954,995
Income tax expense (101,460) (43,095) (181,803) (182,499)
Net income before noncontrolling interests 355,724 179,467 651,453 772,496
Noncontrolling interests 584 (145) (1,019) (2,536)
Net income to common stockholders $ 356,308 $ 179,322 $ 650,434 $ 769,960
NET INCOME PER SHARE:        
Basic (in dollar per share) $ 1.32 $ 0.65 $ 2.38 $ 2.78
Diluted (in dollar per share) $ 1.30 $ 0.64 $ 2.36 $ 2.76