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Consolidated Statements Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUES:        
Net premiums written $ 2,848,459 $ 2,577,274 $ 8,234,799 $ 7,576,163
Change in net unearned premiums (206,545) (135,313) (548,726) (527,958)
Net premiums earned 2,641,914 2,441,961 7,686,073 7,048,205
Net investment income 270,944 202,816 739,494 547,902
Net realized and unrealized (losses) gains on investments (40,855) (66,282) 50,403 139,664
Change in allowance for expected credit losses on investments (1,571) (1,128) (11,164) (12,365)
Net investment (losses) gains (42,426) (67,410) 39,239 127,299
Revenues from non-insurance businesses 137,116 119,013 375,225 345,210
Insurance service fees 22,962 27,940 81,290 82,284
Other income 128 80 235 1,797
Total revenues 3,030,638 2,724,400 8,921,556 8,152,697
OPERATING COSTS AND EXPENSES:        
Losses and loss expenses 1,636,193 1,564,578 4,744,602 4,339,646
Other operating costs and expenses 808,669 725,537 2,457,925 2,139,256
Expenses from non-insurance businesses 133,939 116,240 370,244 334,062
Interest expense 31,888 31,780 95,580 98,473
Total operating costs and expenses 2,610,689 2,438,135 7,668,351 6,911,437
Income before income taxes 419,949 286,265 1,253,205 1,241,260
Income tax expense (86,519) (55,791) (268,322) (238,290)
Net income before noncontrolling interests 333,430 230,474 984,883 1,002,970
Noncontrolling interests 156 (1,595) (863) (4,131)
Net income to common stockholders $ 333,586 $ 228,879 $ 984,020 $ 998,839
NET INCOME PER SHARE:        
Basic (in dollar per share) $ 1.24 $ 0.83 $ 3.62 $ 3.61
Diluted (in dollar per share) $ 1.23 $ 0.82 $ 3.59 $ 3.57