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Consolidated Statements of Comprehensive Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Net premiums earned $ 49,241.2 $ 44,368.7 $ 39,261.6
Investment income 1,260.3 860.9 936.6
Net realized gains (losses) on securities:      
Net realized gains (losses) on security sales 196.5 614.3 914.7
Net holding period gains (losses) on securities (2,100.1) 899.9 715.3
Net impairment losses recognized in earnings (8.6) (5.0) 0.0
Debt and Equity Securities, Gain (Loss) (1,912.2) 1,509.2 1,630.0
Fees and other revenues 722.1 691.8 603.5
Service revenues 299.3 271.4 226.4
Total revenues 49,610.7 47,702.0 42,658.1
Expenses      
Losses and loss adjustment expenses 38,122.7 33,627.6 25,121.8
Policy acquisition costs 3,917.0 3,712.8 3,273.2
Other underwriting expenses 5,859.6 5,654.7 5,570.0
Policyholder credit expense 0.0 0.0 1,077.4
Investment expenses 24.3 25.5 20.0
Service expenses 296.7 252.8 205.5
Interest expense 243.5 218.6 217.0
Goodwill impairment [1] 224.8 0.0 0.0
Total expenses 48,688.6 43,492.0 35,484.9
Net Income      
Income before income taxes 922.1 4,210.0 7,173.2
Provision for income taxes 200.6 859.1 1,468.6
Net income 721.5 3,350.9 5,704.6
Changes in:      
Total net unrealized gains (losses) on fixed-maturity securities (2,842.5) (891.1) 586.5
Net unrealized losses on forecasted transactions 0.4 0.7 0.8
Foreign currency translation adjustment (0.6) (0.6) 0.0
Other comprehensive income (loss) (2,842.7) (891.0) 587.3
Comprehensive income (loss) (2,121.2) 2,459.9 6,291.9
Computation of Earnings Per Common Share      
Net income 721.5 3,350.9 5,704.6
Less: Preferred share dividends 26.9 26.9 26.9
Net income available to common shareholders $ 694.6 $ 3,324.0 $ 5,677.7
Average common shares outstanding - Basic 584.4 584.5 584.9
Net effect of dilutive stock-based compensation 2.7 2.6 2.7
Total average equivalent common shares - Diluted 587.1 587.1 587.6
Basic: Earnings per share (usd per share) $ 1.19 $ 5.69 $ 9.71
Diluted: Earnings per share (usd per share) $ 1.18 $ 5.66 $ 9.66
[1] See Note 15 – Goodwill and Intangible Assets for further discussion.