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Segment Reporting (Tables)
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Schedule Of Underwriting Results For Operating Segments

 

 

 

Three Months Ended

 

 

Six Months Ended

 

U.S. Reinsurance

 

June 30,

 

 

June 30,

 

(Dollars in thousands)

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Gross written premiums

 

$

641,763

 

 

$

652,110

 

 

$

1,405,903

 

 

$

1,296,332

 

Net written premiums

 

 

487,694

 

 

 

429,931

 

 

 

1,105,835

 

 

 

853,762

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Premiums earned

 

$

605,136

 

 

$

467,509

 

 

$

1,180,040

 

 

$

908,894

 

Incurred losses and LAE

 

 

367,473

 

 

 

708,524

 

 

 

684,111

 

 

 

1,009,728

 

Commission and brokerage

 

 

172,589

 

 

 

148,711

 

 

 

339,692

 

 

 

276,031

 

Other underwriting expenses

 

 

15,728

 

 

 

15,472

 

 

 

31,319

 

 

 

32,358

 

Underwriting gain (loss)

 

$

49,346

 

 

$

(405,198

)

 

$

124,918

 

 

$

(409,223

)

 

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

International

 

June 30,

 

 

June 30,

 

(Dollars in thousands)

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Gross written premiums

 

$

372,671

 

 

$

398,714

 

 

$

761,642

 

 

$

765,738

 

Net written premiums

 

 

350,219

 

 

 

337,357

 

 

 

708,077

 

 

 

672,232

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Premiums earned

 

$

353,086

 

 

$

343,133

 

 

$

675,460

 

 

$

672,072

 

Incurred losses and LAE

 

 

213,808

 

 

 

259,487

 

 

 

450,884

 

 

 

435,846

 

Commission and brokerage

 

 

85,974

 

 

 

84,379

 

 

 

155,836

 

 

 

162,773

 

Other underwriting expenses

 

 

9,632

 

 

 

9,869

 

 

 

18,097

 

 

 

19,955

 

Underwriting gain (loss)

 

$

43,672

 

 

$

(10,602

)

 

$

50,643

 

 

$

53,498

 

 

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

Insurance

 

June 30,

 

 

June 30,

 

(Dollars in thousands)

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Gross written premiums

 

$

673,603

 

 

$

581,460

 

 

$

1,205,374

 

 

$

1,036,445

 

Net written premiums

 

 

481,952

 

 

 

423,066

 

 

 

898,196

 

 

 

771,387

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Premiums earned

 

$

417,401

 

 

$

369,194

 

 

$

790,577

 

 

$

714,880

 

Incurred losses and LAE

 

 

261,941

 

 

 

260,749

 

 

 

504,323

 

 

 

496,441

 

Commission and brokerage

 

 

58,212

 

 

 

54,912

 

 

 

109,465

 

 

 

105,655

 

Other underwriting expenses

 

 

57,991

 

 

 

48,885

 

 

 

112,317

 

 

 

99,264

 

Underwriting gain (loss)

 

$

39,257

 

 

$

4,648

 

 

$

64,472

 

 

$

13,520

 

 

Schedule Of Underwriting Results For Operating Segments To Income (Loss) Before Taxes

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(Dollars in thousands)

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Underwriting gain (loss)

 

$

132,275

 

 

$

(411,152

)

 

$

240,033

 

 

$

(342,205

)

Net investment income

 

 

90,709

 

 

 

72,070

 

 

 

175,243

 

 

 

141,979

 

Net realized capital gains (losses)

 

 

142,563

 

 

 

(42,271

)

 

 

277,619

 

 

 

(102,472

)

Corporate expense

 

 

(2,519

)

 

 

(1,513

)

 

 

(4,170

)

 

 

(5,109

)

Interest, fee and bond issue cost amortization expense

 

 

(9,684

)

 

 

(7,623

)

 

 

(19,512

)

 

 

(14,936

)

Other income (expense)

 

 

(3,812

)

 

 

77,682

 

 

 

(5,026

)

 

 

2,805

 

Income (loss) before taxes

 

$

349,532

 

 

$

(312,807

)

 

$

664,187

 

 

$

(319,938

)

Schedule Of Gross Written Premium Derived From Largest Non-U.S. Market

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(Dollars in thousands)

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Canada gross written premiums

 

$

47,206

 

 

$

44,189

 

 

$

86,256

 

 

$

84,581