Industry Segments (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023
Insurance	$	9,130,324	$	793,998	$	36,830	$	9,961,152	$	1,640,438	$	1,291,654
Reinsurance & Monoline Excess	1,270,363		211,628		—		1,481,991		438,765		346,782
Corporate, other and eliminations (3)	—		47,209		605,544		652,753		(371,842)		(293,869)
Net investment gains	—		—		47,042		47,042		47,042		36,792
Consolidated	$	10,400,687	$	1,052,835	$	689,416	$	12,142,938	$	1,754,403	$	1,381,359

Year ended December 31, 2022
Insurance	$	8,369,062	$	550,084	$	33,347	$	8,952,493	$	1,455,658	$	1,173,425
Reinsurance & Monoline Excess	1,192,367		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 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

Identifiable Assets by Segments


Identifiable Assets
(In thousands)	December 31,
	2023		2022
Insurance	$	30,132,743	$	27,009,652
Reinsurance & Monoline Excess	5,389,125		5,195,752
Corporate, other and eliminations (3)	1,680,147		1,655,695
Consolidated	$	37,202,015	$	33,861,099

_______________________________________

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

(2) Revenues for Insurance includes $1,171 million, $1,029 million, and $873 million in 2023, 2022 and 2021, respectively, from foreign countries. Revenues for Reinsurance & Monoline Excess includes $463 million, $412 million, and $380 million in 2023, 2022 and 2021, 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)	2023		2022		2021
Insurance
Other liability	$	3,613,900	$	3,206,846	$	2,673,098
Short-tail lines	1,897,070		1,630,371		1,389,068
Auto	1,313,210		1,208,241		990,945
Workers' compensation	1,212,294		1,197,811		1,131,283
Professional liability	1,093,850		1,125,793		893,314
Total Insurance	9,130,324		8,369,062		7,077,708
Reinsurance & Monoline Excess
Casualty	770,920		764,793		643,193
Property	258,317		210,557		183,943
Monoline Excess	241,126		217,017		201,187
Total Reinsurance & Monoline Excess	1,270,363		1,192,367		1,028,323
Total	$	10,400,687	$	9,561,429	$	8,106,031