https:\/\/ir.berkley.com\/investor-relations\/financial-information\/quarterly-results\/default.aspx<\/a>.<\/p>\nAbout W. R. Berkley Corporation<\/p>
\nFounded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess.<\/p>
\nForward Looking Information<\/p>
\nThis is a \u201cSafe Harbor\u201d Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including statements related to our outlook for the industry and for our performance for the year 2026 and beyond, are based upon the Company\u2019s historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. They are subject to various risks and uncertainties, including but not limited to: the cyclical nature of the property casualty industry; the impact of significant competition, including new entrants to the industry; the long-tail and potentially volatile nature of the insurance and reinsurance business; product demand and pricing; claims development and the process of estimating reserves; investment risks, including those of our portfolio of fixed maturity securities and investments in equity securities, including investments in financial institutions, foreign government bonds, municipal bonds, mortgage-backed securities, loans receivable, investment funds, including real estate, merger arbitrage, energy-related and private equity investments; the effects of emerging claim and coverage issues; the uncertain nature of damage theories and loss amounts, including claims for cyber security-related risks; the increasing use of artificial intelligence technologies by us or third-parties on which we rely could expose us to technological, security, legal, and other risks; natural and man-made catastrophic losses, including as a result of terrorist activities or the ongoing conflict with Iran; the risk of future pandemics, as well as the continuing effects of the COVID-19 pandemic; the impact of climate-related risks, which may alter the frequency and increase the severity of catastrophe events; general economic and market activities, including inflation, the risk of recession, changing interest rates, the impact of tariffs and volatility in the credit and capital markets; the impact of the conditions in the financial markets and the global economy, and the potential effect of legislative, regulatory, accounting or other initiatives taken in response to such conditions, on our results and financial condition; foreign currency and political risks relating to our international operations; our ability to attract and retain key personnel and qualified employees; continued availability of capital and financing; the success of our new ventures or acquisitions and the availability of other opportunities; the availability of reinsurance; our retention under the Terrorism Risk Insurance Program Reauthorization Act of 2019; the ability or willingness of our reinsurers to pay reinsurance recoverables owed to us; other legislative and regulatory developments, including those related to business practices in the insurance industry; credit risk related to our policyholders, independent agents and brokers; changes in the ratings assigned to us or our insurance company subsidiaries by rating agencies; the availability of dividends from our insurance company subsidiaries; cyber security breaches of our information technology systems and the information technology systems of our vendors and other third parties, or related processes and systems; the effectiveness of our controls to ensure compliance with guidelines, policies and legal and regulatory standards; and other risks detailed from time to time in the Company\u2019s filings with the Securities and Exchange Commission. These risks and uncertainties could cause our actual results for the year 2026 and beyond to differ materially from those expressed in any forward-looking statement we make. Any projections of growth in our revenues would not necessarily result in commensurate levels of earnings. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.<\/p>
\nConsolidated Financial Summary\n<\/b>(Amounts in thousands, except per share data)<\/p>\n\n\n\u00a0<\/p><\/td> | \nSecond Quarter<\/p><\/td> | \n\u00a0<\/p><\/td> | \nSix Months<\/p><\/td><\/tr>\n |
\n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nRevenues:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nNet premiums written<\/p><\/td> | \n$<\/p><\/td> | \n3,430,234<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n3,351,439<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n6,604,580<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n6,484,742<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nChange in net unearned premiums<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(242,845<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(253,254<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(302,019<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(374,176<\/p><\/td> | \n)<\/p><\/td><\/tr>\n |
\n\nNet premiums earned<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,187,389<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,098,185<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n6,302,561<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n6,110,566<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nNet investment income<\/p><\/td> | \n\u00a0<\/p><\/td> | \n418,714<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n379,303<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n823,048<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n739,595<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nNet investment (losses) gains:<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nNet realized and unrealized (losses) gains on investments<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(55,131<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n30,533<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(70,760<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n46,244<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nChange in allowance for credit losses on investments<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(59<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n440<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(205<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,084<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nNet investment (losses) gains<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(55,190<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n30,973<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(70,965<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n47,328<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nRevenues from non-insurance businesses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n134,427<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n128,839<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n290,978<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n257,748<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nInsurance service fees<\/p><\/td> | \n\u00a0<\/p><\/td> | \n30,620<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n32,757<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n58,849<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n61,686<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nOther income<\/p><\/td> | \n\u00a0<\/p><\/td> | \n159<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n751<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,982<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,284<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nTotal Revenues<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,716,119<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,670,808<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n7,406,453<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n7,218,207<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nExpenses:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nLoss and loss expenses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,960,532<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,955,424<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,896,556<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,856,216<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nOther operating costs and expenses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,025,920<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,039,307<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,996,579<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,989,217<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nExpenses from non-insurance businesses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n122,741<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n122,437<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n258,583<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n248,801<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nInterest expense<\/p><\/td> | \n\u00a0<\/p><\/td> | \n31,728<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n31,777<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n63,438<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n63,504<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nTotal expenses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,140,921<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,148,945<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n6,215,156<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n6,157,738<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nIncome before income tax<\/p><\/td> | \n\u00a0<\/p><\/td> | \n575,198<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n521,863<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,191,297<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,060,469<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nIncome tax expense<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(122,892<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(121,155<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(223,416<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(242,411<\/p><\/td> | \n)<\/p><\/td><\/tr>\n |
\n\nNet Income before noncontrolling interests<\/p><\/td> | \n\u00a0<\/p><\/td> | \n452,306<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n400,708<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n967,881<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n818,058<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nNoncontrolling interest<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(45<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n580<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(403<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n802<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nNet income to common stockholders<\/p><\/td> | \n$<\/p><\/td> | \n452,261<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n401,288<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n967,478<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n818,860<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nNet income per share:<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nBasic<\/p><\/td> | \n$<\/p><\/td> | \n1.16<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.01<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n2.48<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n2.06<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nDiluted<\/p><\/td> | \n$<\/p><\/td> | \n1.15<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.00<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n2.46<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n2.05<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nAverage shares outstanding (1):<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nBasic<\/p><\/td> | \n\u00a0<\/p><\/td> | \n389,156<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n397,016<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n390,702<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n396,972<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n |
\n\nDiluted<\/p><\/td> | \n\u00a0<\/p><\/td> | \n391,804<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n400,368<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n393,316<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n400,098<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n<\/table> \n- \nBasic shares outstanding consist of the weighted average number of common shares outstanding during the period (including shares held in a grantor trust). Diluted shares outstanding consist of the weighted average number of basic and common equivalent shares outstanding during the period.<\/li>\n<\/ol>
\nBusiness Segment Operating Results\n<\/b>(Amounts in thousands, except ratios) (1)<\/p>\n\n\n\u00a0<\/p><\/td> | \nSecond Quarter<\/p><\/td> | \n\u00a0<\/p><\/td> | \nSix Months<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nInsurance:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nGross premiums written<\/p><\/td> | \n$<\/p><\/td> | \n3,802,768<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n3,606,887<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n7,164,335<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n6,823,840<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet premiums written<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,123,983<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,013,703<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5,903,700<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5,708,158<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet premiums earned<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,826,030<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,728,784<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5,591,522<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5,371,291<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nPre-tax income<\/p><\/td> | \n\u00a0<\/p><\/td> | \n578,572<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n512,672<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,103,235<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,022,177<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nLoss ratio<\/p><\/td> | \n\u00a0<\/p><\/td> | \n63.1<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n63.8<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n63.5<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n63.9<\/p><\/td> | \n%<\/p><\/td><\/tr>\n | \n\nExpense ratio<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28.3<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28.3<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28.3<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28.0<\/p><\/td> | \n%<\/p><\/td><\/tr>\n | \n\nGAAP Combined ratio<\/p><\/td> | \n\u00a0<\/p><\/td> | \n91.4<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n92.1<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n91.8<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n91.9<\/p><\/td> | \n%<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nReinsurance & Monoline Excess:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nGross premiums written<\/p><\/td> | \n$<\/p><\/td> | \n341,232<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n370,882<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n765,431<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n837,868<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet premiums written<\/p><\/td> | \n\u00a0<\/p><\/td> | \n306,251<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n337,736<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n700,880<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n776,584<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet premiums earned<\/p><\/td> | \n\u00a0<\/p><\/td> | \n361,359<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n369,401<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n711,039<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n739,275<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nPre-tax income<\/p><\/td> | \n\u00a0<\/p><\/td> | \n145,506<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n127,299<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n288,212<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n247,679<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nLoss ratio<\/p><\/td> | \n\u00a0<\/p><\/td> | \n49.2<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n57.7<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n48.8<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n57.7<\/p><\/td> | \n%<\/p><\/td><\/tr>\n | \n\nExpense ratio<\/p><\/td> | \n\u00a0<\/p><\/td> | \n30.1<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n29.7<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n30.2<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28.7<\/p><\/td> | \n%<\/p><\/td><\/tr>\n | \n\nGAAP Combined ratio<\/p><\/td> | \n\u00a0<\/p><\/td> | \n79.3<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n87.4<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n79.0<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n86.4<\/p><\/td> | \n%<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCorporate and Eliminations:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet investment (losses) gains<\/p><\/td> | \n$<\/p><\/td> | \n(55,190<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n30,973<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n(70,965<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n47,328<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nInterest expense<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(31,728<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(31,777<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(63,438<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(63,504<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nOther expenses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(61,962<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(117,304<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(65,747<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(193,211<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nPre-tax loss<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(148,880<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(118,108<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(200,150<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(209,387<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nConsolidated:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nGross premiums written<\/p><\/td> | \n$<\/p><\/td> | \n4,144,000<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n3,977,769<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n7,929,766<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n7,661,708<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet premiums written<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,430,234<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,351,439<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n6,604,580<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n6,484,742<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet premiums earned<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,187,389<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,098,185<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n6,302,561<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n6,110,566<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nPre-tax income<\/p><\/td> | \n\u00a0<\/p><\/td> | \n575,198<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n521,863<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,191,297<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,060,469<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nLoss ratio<\/p><\/td> | \n\u00a0<\/p><\/td> | \n61.5<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n63.1<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n61.8<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n63.1<\/p><\/td> | \n%<\/p><\/td><\/tr>\n | \n\nExpense ratio<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28.5<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28.5<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28.6<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28.2<\/p><\/td> | \n%<\/p><\/td><\/tr>\n | \n\nGAAP Combined ratio<\/p><\/td> | \n\u00a0<\/p><\/td> | \n90.0<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n91.6<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n90.4<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n91.3<\/p><\/td> | \n%<\/p><\/td><\/tr>\n<\/table> \n- \nLoss ratio is losses and loss expenses incurred expressed as a percentage of premiums earned. Expense ratio is underwriting expenses expressed as a percentage of premiums earned. GAAP combined ratio is the sum of the loss ratio and the expense ratio.<\/li>\n<\/ol>
\nSupplemental Information\n<\/b>(Amounts in thousands)<\/p>\n\n\n\u00a0<\/p><\/td> | \nSecond Quarter<\/p><\/td> | \n\u00a0<\/p><\/td> | \nSix Months<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet premiums written:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nOther liability<\/p><\/td> | \n$<\/p><\/td> | \n1,247,483<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1,218,988<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n2,366,901<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n2,327,253<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nShort-tail lines (1)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n734,374<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n706,298<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,365,362<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,306,490<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAuto<\/p><\/td> | \n\u00a0<\/p><\/td> | \n461,856<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n448,678<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n879,668<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n837,832<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nWorkers' compensation<\/p><\/td> | \n\u00a0<\/p><\/td> | \n346,866<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n340,891<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n675,884<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n681,498<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nProfessional liability<\/p><\/td> | \n\u00a0<\/p><\/td> | \n333,404<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n298,848<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n615,885<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n555,085<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal Insurance<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,123,983<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,013,703<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5,903,700<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5,708,158<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCasualty (2)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n162,948<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n188,929<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n320,934<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n375,718<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nProperty (2)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n110,884<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n115,926<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n219,897<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n248,084<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nMonoline excess<\/p><\/td> | \n\u00a0<\/p><\/td> | \n32,419<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n32,881<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n160,049<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n152,782<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal Reinsurance & Monoline Excess<\/p><\/td> | \n\u00a0<\/p><\/td> | \n306,251<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n337,736<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n700,880<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n776,584<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal<\/p><\/td> | \n$<\/p><\/td> | \n3,430,234<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n3,351,439<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n6,604,580<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n6,484,742<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCurrent accident year losses from catastrophes:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nInsurance<\/p><\/td> | \n$<\/p><\/td> | \n59,784<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n77,631<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n135,259<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n148,248<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nReinsurance & Monoline Excess<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,584<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n21,603<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,786<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n62,094<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal<\/p><\/td> | \n$<\/p><\/td> | \n62,368<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n99,234<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n138,045<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n210,342<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet Investment income:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCore portfolio (3)<\/p><\/td> | \n$<\/p><\/td> | \n370,906<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n328,363<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n725,397<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n645,303<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nInvestment funds<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28,782<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n27,268<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n68,311<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n54,291<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nArbitrage trading account<\/p><\/td> | \n\u00a0<\/p><\/td> | \n19,026<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n23,672<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n29,340<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n40,001<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal<\/p><\/td> | \n$<\/p><\/td> | \n418,714<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n379,303<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n823,048<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n739,595<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet realized and unrealized (losses) gains on investments:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet realized losses on investments<\/p><\/td> | \n$<\/p><\/td> | \n(37,121<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n(33,097<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n(48,256<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n(37,333<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nChange in unrealized (losses) gains on equity securities<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(18,010<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n63,630<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(22,504<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n83,577<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal<\/p><\/td> | \n$<\/p><\/td> | \n(55,131<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n30,533<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n(70,760<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n46,244<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nOther operating costs and expenses:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nPolicy acquisition and insurance operating expenses<\/p><\/td> | \n$<\/p><\/td> | \n909,344<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n882,099<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1,798,528<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1,720,345<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nInsurance service expenses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n25,468<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n24,287<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n48,634<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n47,534<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet foreign currency losses (gains)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,974<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n55,396<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(15,037<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n74,774<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nOther costs and expenses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n89,134<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n77,525<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n164,454<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n146,564<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal<\/p><\/td> | \n$<\/p><\/td> | \n1,025,920<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1,039,307<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1,996,579<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1,989,217<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCash flow from operations<\/b><\/p><\/td> | \n$<\/p><\/td> | \n800,047<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n703,806<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1,467,904<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1,447,624<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nReconciliation of net income to operating income:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet income<\/p><\/td> | \n$<\/p><\/td> | \n452,261<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n401,288<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n967,478<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n818,860<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nPre-tax investment losses (gains), net of related expenses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n55,190<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(30,973<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n70,965<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(47,328<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nPre-tax net foreign currency losses (gains)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,974<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n55,396<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(15,037<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n74,774<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nIncome tax benefit<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(12,280<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(5,225<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(12,004<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(5,864<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nOperating income after-tax (4)<\/p><\/td> | \n$<\/p><\/td> | \n497,145<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n420,486<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1,011,402<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n840,442<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n<\/table> \n- \nShort-tail lines include commercial multi-peril (non-liability), inland marine, accident and health, fidelity and surety, boiler and machinery, high net worth homeowners and other lines.<\/li>\n
- \nIncludes reinsurance casualty and property and certain program management business.<\/li>\n
- \nCore portfolio includes fixed maturity securities, equity securities, cash and cash equivalents, real estate and loans receivable.<\/li>\n
- \nOperating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and after tax net foreign currency gains (losses). Net investment gains (losses) are computed net of related expenses, including performance-based compensatory costs associated with realized investment gains. Management believes this measurement provides a useful indicator of trends in the Company's underlying operations.\n
\n\u00a0<\/p>\n<\/li>\n<\/ol> \nSelected Balance Sheet Information\n<\/b>(Amounts in thousands, except per share data)<\/p>\n\n\n\u00a0<\/p><\/td> | \nJune 30, 2026<\/p><\/td> | \n\u00a0<\/p><\/td> | \nDecember 31,<\/p> \n2025<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet invested assets (1)<\/p><\/td> | \n$ 34,168,931<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$ 33,173,381<\/p><\/td><\/tr>\n | \n\nTotal assets<\/p><\/td> | \n45,677,113<\/p><\/td> | \n\u00a0<\/p><\/td> | \n43,926,843<\/p><\/td><\/tr>\n | \n\nReserves for losses and loss expenses<\/p><\/td> | \n23,182,240<\/p><\/td> | \n\u00a0<\/p><\/td> | \n22,207,773<\/p><\/td><\/tr>\n | \n\nSenior notes and other debt<\/p><\/td> | \n1,829,445<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,829,198<\/p><\/td><\/tr>\n | \n\nSubordinated debentures<\/p><\/td> | \n1,010,887<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,010,527<\/p><\/td><\/tr>\n | \n\nCommon stockholders' equity (2)<\/p><\/td> | \n9,833,239<\/p><\/td> | \n\u00a0<\/p><\/td> | \n9,700,818<\/p><\/td><\/tr>\n | \n\nCommon stock outstanding (3)<\/p><\/td> | \n371,058<\/p><\/td> | \n\u00a0<\/p><\/td> | \n377,156<\/p><\/td><\/tr>\n | \n\nBook value per share (4)<\/p><\/td> | \n26.50<\/p><\/td> | \n\u00a0<\/p><\/td> | \n25.72<\/p><\/td><\/tr>\n | \n\nTangible book value per share (4)<\/p><\/td> | \n25.89<\/p><\/td> | \n\u00a0<\/p><\/td> | \n25.11<\/p><\/td><\/tr>\n<\/table> \n- \nNet invested assets include investments, cash and cash equivalents, trading accounts receivable from brokers and clearing organizations, trading account securities sold but not yet purchased and unsettled purchases, net of related liabilities.<\/li>\n
- \nAs of June 30, 2026, reflected in common stockholders' equity are after-tax unrealized investment losses of $317 million and unrealized currency translation losses of $323 million. As of December 31, 2025, reflected in common stockholders' equity are after-tax unrealized investment losses of $125 million and unrealized currency translation losses of $326 million.<\/li>\n
- \nDuring the six months ended June 30, 2026, the Company repurchased 6,156,370 shares of its common stock for $413.9 million. During the three months ended June 30, 2026, the Company repurchased 1,684,736 shares of its common stock for $111.5 million. The number of shares of common stock outstanding excludes shares held in a grantor trust (17,378,810 shares).<\/li>\n
- \nBook value per share is total common stockholders\u2019 equity divided by the number of common shares outstanding. Tangible book value per share is total common stockholders\u2019 equity excluding the after-tax value of goodwill and other intangible assets divided by the number of common shares outstanding. Adjusted book value per share and adjusted tangible book value per share, including shares held in a grantor trust is $25.31 and $24.73, respectively.<\/li>\n<\/ol>
\nInvestment Portfolio\n<\/b>June 30, 2026\n<\/b>(Amounts in thousands, except percentages)<\/p>\n\n\n\u00a0<\/p><\/td> | \nCarrying Value<\/p><\/td> | \n\u00a0<\/p><\/td> | \nPercent of Total<\/p><\/td><\/tr>\n | \n\nFixed maturity securities:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nUnited States government and government agencies<\/p><\/td> | \n$<\/p><\/td> | \n4,402,996<\/p><\/td> | \n\u00a0<\/p><\/td> | \n12.9 %<\/p><\/td><\/tr>\n | \n\nState and municipal:<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nSpecial revenue<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,025,357<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3.0 %<\/p><\/td><\/tr>\n | \n\nState general obligation<\/p><\/td> | \n\u00a0<\/p><\/td> | \n211,953<\/p><\/td> | \n\u00a0<\/p><\/td> | \n0.6 %<\/p><\/td><\/tr>\n | \n\nLocal general obligation<\/p><\/td> | \n\u00a0<\/p><\/td> | \n181,600<\/p><\/td> | \n\u00a0<\/p><\/td> | \n0.5 %<\/p><\/td><\/tr>\n | \n\nCorporate backed<\/p><\/td> | \n\u00a0<\/p><\/td> | \n133,248<\/p><\/td> | \n\u00a0<\/p><\/td> | \n0.4 %<\/p><\/td><\/tr>\n | \n\nPre-refunded<\/p><\/td> | \n\u00a0<\/p><\/td> | \n104,561<\/p><\/td> | \n\u00a0<\/p><\/td> | \n0.3 %<\/p><\/td><\/tr>\n | \n\nTotal state and municipal<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,656,719<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4.8 %<\/p><\/td><\/tr>\n | \n\nMortgage-backed securities:<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAgency<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4,083,630<\/p><\/td> | \n\u00a0<\/p><\/td> | \n12.0 %<\/p><\/td><\/tr>\n | \n\nCommercial<\/p><\/td> | \n\u00a0<\/p><\/td> | \n206,784<\/p><\/td> | \n\u00a0<\/p><\/td> | \n0.6 %<\/p><\/td><\/tr>\n | \n\nResidential - Prime<\/p><\/td> | \n\u00a0<\/p><\/td> | \n193,880<\/p><\/td> | \n\u00a0<\/p><\/td> | \n0.6 %<\/p><\/td><\/tr>\n | \n\nResidential - Alt A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,178<\/p><\/td> | \n\u00a0<\/p><\/td> | \n0.0 %<\/p><\/td><\/tr>\n | \n\nTotal mortgage-backed securities<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4,485,472<\/p><\/td> | \n\u00a0<\/p><\/td> | \n13.2 %<\/p><\/td><\/tr>\n | \n\nAsset-backed securities<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4,076,528<\/p><\/td> | \n\u00a0<\/p><\/td> | \n11.9 %<\/p><\/td><\/tr>\n | \n\nCorporate:<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nIndustrial<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,742,941<\/p><\/td> | \n\u00a0<\/p><\/td> | \n11.0 %<\/p><\/td><\/tr>\n | \n\nFinancial<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,646,986<\/p><\/td> | \n\u00a0<\/p><\/td> | \n10.7 %<\/p><\/td><\/tr>\n | \n\nUtilities<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,692,946<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4.9 %<\/p><\/td><\/tr>\n | \n\nOther<\/p><\/td> | \n\u00a0<\/p><\/td> | \n195,222<\/p><\/td> | \n\u00a0<\/p><\/td> | \n0.6 %<\/p><\/td><\/tr>\n | \n\nTotal corporate<\/p><\/td> | \n\u00a0<\/p><\/td> | \n9,278,095<\/p><\/td> | \n\u00a0<\/p><\/td> | \n27.2 %<\/p><\/td><\/tr>\n | \n\nForeign government<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,000,182<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5.8 %<\/p><\/td><\/tr>\n | \n\nTotal fixed maturity securities (1)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n25,899,992<\/p><\/td> | \n\u00a0<\/p><\/td> | \n75.8 %<\/p><\/td><\/tr>\n | \n\nEquity securities available for sale:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCommon stocks<\/p><\/td> | \n\u00a0<\/p><\/td> | \n883,940<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2.6 %<\/p><\/td><\/tr>\n | \n\nPreferred stocks<\/p><\/td> | \n\u00a0<\/p><\/td> | \n618,297<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1.8 %<\/p><\/td><\/tr>\n | \n\nTotal equity securities available for sale<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,502,237<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4.4 %<\/p><\/td><\/tr>\n | \n\nCash and cash equivalents (2)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,426,400<\/p><\/td> | \n\u00a0<\/p><\/td> | \n7.1 %<\/p><\/td><\/tr>\n | \n\nInvestment funds<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,431,427<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4.2 %<\/p><\/td><\/tr>\n | \n\nReal estate<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,350,849<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3.9 %<\/p><\/td><\/tr>\n | \n\nArbitrage trading account<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,292,382<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3.8 %<\/p><\/td><\/tr>\n | \n\nLoans receivable<\/p><\/td> | \n\u00a0<\/p><\/td> | \n265,644<\/p><\/td> | \n\u00a0<\/p><\/td> | \n0.8 %<\/p><\/td><\/tr>\n | \n\nNet invested assets<\/p><\/td> | \n$<\/p><\/td> | \n34,168,931<\/p><\/td> | \n\u00a0<\/p><\/td> | \n100.0 %<\/p><\/td><\/tr>\n<\/table> \n- \nTotal fixed maturity securities had an average rating of AA- and an average duration of 3.2 years, including cash and cash equivalents.<\/li>\n
- \nCash and cash equivalents includes trading accounts receivable from brokers and clearing organizations, trading account securities sold but not yet purchased and unsettled purchases.<\/li>\n<\/ol>
\n\u00a0<\/p> Contacts<\/b> \nKaren A. Horvath\nVice President - External\nFinancial Communications\n(203) 629-3000<\/p>","protected":false},"excerpt":{"rendered":" Gross Premiums Written Increased to a Record $4.1 Billion; Record Quarterly Net Investment Income of $418.7 Million; Return on Equity of 18.6% and Operating Return on Equity of 20.5%GREENWICH, Conn.–(BUSINESS WIRE)–W. R. Berkley Corporation (NYSE: W…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-39846","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/39846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39846"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/39846\/revisions"}],"predecessor-version":[{"id":39847,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/39846\/revisions\/39847"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} | | | | |
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