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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUES:      
Net premiums written $ 10,954,467 $ 10,004,070 $ 8,862,867
Change in net unearned premiums (553,780) (442,641) (756,836)
Net premiums earned 10,400,687 9,561,429 8,106,031
Net investment income 1,052,835 779,185 671,618
Net investment gains:      
Unrealized investment gains (losses), before tax 47,540 217,311 106,958
Change in allowance for expected credit losses on investments (498) (14,914) (16,326)
Net investment (losses) gains 47,042 202,397 90,632
Revenues from non-insurance businesses 535,508 509,548 489,151
Insurance service fees 106,485 110,544 93,857
Other income 381 3,396 4,177
Total revenues 12,142,938 11,166,499 9,455,466
OPERATING COSTS AND EXPENSES:      
Losses and loss expenses 6,372,142 5,861,750 4,953,960
Other operating costs and expenses 3,363,936 2,961,505 2,599,270
Expenses from non-insurance businesses 524,998 493,189 472,151
Interest expense 127,459 130,374 147,180
Total operating costs and expenses 10,388,535 9,446,818 8,172,561
Pre-Tax Income (Loss) 1,754,403 1,719,681 1,282,905
Income tax expense (370,557) (334,727) (251,890)
Net income before noncontrolling interests 1,383,846 1,384,954 1,031,015
Noncontrolling interests (2,487) (3,892) (8,525)
Net income to common stockholders $ 1,381,359 $ 1,381,062 $ 1,022,490
NET INCOME PER SHARE:      
Basic (dollars per share) $ 5.10 $ 4.99 $ 3.69
Diluted (dollars per share) $ 5.05 $ 4.94 $ 3.66