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Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Sep. 30, 2020
Assets      
Fixed maturities (amortized cost: $44,556.0, $35,082.8, and $35,589.1) $ 45,045.7 $ 36,810.9 $ 36,313.5
Short-term investments (amortized cost: $1,088.7, $4,667.8, and $5,218.5) 1,088.7 5,218.5 4,667.8
Total available-for-sale securities 46,134.4 42,029.4 40,981.3
Nonredeemable preferred stocks (cost: $1,479.9, $1,302.7, and $1,358.7) 1,572.8 1,447.9 1,323.2
Common equities (cost: $1,238.4, $1,130.0, and $1,187.3) 4,580.2 4,053.0 3,459.8
Total equity securities 6,153.0 5,500.9 4,783.0
Total investments 52,287.4 47,530.3 45,764.3
Cash and cash equivalents 270.6 76.5 90.1
Restricted Cash and Cash Equivalents 14.9 0.0 1.0
Cash and cash equivalents 285.5 76.5 91.1
Accrued investment income 168.6 176.4 181.5
Premiums receivable, net of allowance for credit losses of $257.3, $313.2, and $356.2 10,246.7 8,160.1 8,574.3
Reinsurance recoverables 5,044.9 4,019.4 3,987.3
Prepaid reinsurance premiums 661.1 368.1 463.4
Deferred acquisition costs 1,430.7 1,237.2 1,265.0
Property and equipment, net of accumulated depreciation of $1,422.2, $1,264.5, and $1,291.4 1,161.0 1,106.0 1,181.6
Goodwill 452.7 452.7 452.7
Intangible assets, net of accumulated amortization of $369.2, $312.0, and $326.1 131.9 171.4 185.5
Other assets 747.6 800.2 759.3
Total assets 72,618.1 64,098.3 62,906.0
Liabilities      
Unearned premiums 16,671.4 13,437.5 14,199.3
Loss and loss adjustment expense reserves 25,926.3 20,265.8 19,589.2
Net federal deferred income taxes 110.7 310.0 227.9
Dividends payable on common shares 58.5 2,694.5 58.6
Accounts payable, accrued expenses, and other liabilities 6,394.9 4,955.8 5,348.4
Debt [1] 4,898.2 5,396.1 5,395.4
Total liabilities 54,060.0 47,059.7 44,818.8
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 212.6, 211.9, and 212.3) 585.0 585.2 585.6
Paid-in capital 1,735.9 1,672.9 1,629.4
Retained earnings 15,390.0 13,354.9 14,427.7
Accumulated other comprehensive income (loss):      
Net unrealized gains (losses) on fixed-maturity securities 369.0 947.3 966.4
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax (15.0) (15.6) (15.8)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax (0.7) 0.0 0.0
Total accumulated other comprehensive income (loss) 353.3 931.7 950.6
Total shareholders’ equity 18,558.1 17,038.6 18,087.2
Total liabilities and shareholders’ equity $ 72,618.1 $ 64,098.3 $ 62,906.0
[1] Consists of long-term debt. See Note 4 – Debt for further discussion.