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Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2021
Dec. 31, 2020
Jun. 30, 2020
Assets      
Fixed maturities (amortized cost: $42,378.0, $33,467.9, and $35,589.1) $ 43,031.0 $ 36,810.9 $ 34,726.4
Short-term investments (amortized cost: $1,710.6, $4,700.5, and $5,218.5) 1,710.6 5,218.5 4,700.5
Total available-for-sale securities 44,741.6 42,029.4 39,426.9
Nonredeemable preferred stocks (cost: $1,536.2, $1,205.4, and $1,358.7) 1,662.3 1,447.9 1,180.6
Common equities (cost: $1,213.4, $1,128.8, and $1,187.3) 4,538.9 4,053.0 3,170.4
Total equity securities 6,201.2 5,500.9 4,351.0
Total investments 50,942.8 47,530.3 43,777.9
Cash and cash equivalents 99.5 76.5 108.0
Restricted Cash and Cash Equivalents 15.1 0.0 1.1
Cash and cash equivalents 114.6 76.5 109.1
Accrued investment income 179.3 176.4 190.8
Premiums receivable, net of allowance for credit losses of $245.2, $437.9, and $356.2 9,436.2 8,160.1 7,557.4
Reinsurance recoverables 4,709.1 4,019.4 3,654.3
Prepaid reinsurance premiums 620.0 368.1 361.3
Deferred acquisition costs 1,360.6 1,237.2 1,154.8
Property and equipment, net of accumulated depreciation of $1,396.5, $1,241.7, and $1,291.4 1,086.4 1,106.0 1,189.8
Goodwill 452.7 452.7 452.7
Intangible assets, net of accumulated amortization of $354.6, $297.8, and $326.1 146.5 171.4 199.7
Other assets 776.1 800.2 773.6
Total assets 69,824.3 64,098.3 59,421.4
Liabilities      
Unearned premiums 15,555.9 13,437.5 13,055.6
Loss and loss adjustment expense reserves 23,895.6 20,265.8 18,512.0
Net federal deferred income taxes 219.4 310.0 211.2
Dividends payable on common shares 58.5 2,694.5 58.5
Accounts payable, accrued expenses, and other liabilities 6,021.8 4,955.8 5,518.8
Debt [1] 5,397.5 5,396.1 5,394.7
Total liabilities 51,148.7 47,059.7 42,750.8
Shareholders’ Equity      
Serial Preferred Shares, Series B, no par value (cumulative, liquidation preference $1,000 per share) (authorized, issued, and outstanding 0.5) 493.9 493.9 493.9
Common shares, $1.00 par value (authorized 900.0; issued 797.6, 797.5, and 797.5, including treasury shares of 212.4, 212.1, and 212.3) 585.2 585.2 585.4
Paid-in capital 1,712.3 1,672.9 1,614.5
Retained earnings 15,401.0 13,354.9 13,001.8
Accumulated other comprehensive income (loss):      
Net unrealized gains (losses) on fixed-maturity securities 498.8 947.3 991.0
Net unrealized losses on forecasted transactions (15.1) (15.6) (16.0)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax (0.5) 0.0 0.0
Total accumulated other comprehensive income (loss) 483.2 931.7 975.0
Total shareholders’ equity 18,675.6 17,038.6 16,670.6
Total liabilities and shareholders’ equity $ 69,824.3 $ 64,098.3 $ 59,421.4
[1] Consists of both short-term and long-term debt. See Note 4 – Debt for further discussion.