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Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Sep. 30, 2022
Assets      
Fixed maturities (amortized cost: $60,490.6, $48,205.7, and $50,264.0) $ 56,591.9 $ 46,651.9 $ 44,173.1
Short-term investments (amortized cost: $1,795.2, $4,237.6, and $2,861.7) 1,795.2 2,861.7 4,237.6
Total available-for-sale securities 58,387.1 49,513.6 48,410.7
Nonredeemable preferred stocks (cost: $976.9, $1,417.6, and $1,364.2) 868.9 1,213.2 1,254.4
Common equities (cost: $662.6, $803.7, and $826.1) 2,614.5 2,821.5 2,665.3
Total equity securities 3,483.4 4,034.7 3,919.7
Total investments 61,870.5 53,548.3 52,330.4
Cash and cash equivalents 123.5 203.5 350.9
Restricted cash and cash equivalents 14.9 17.4 14.4
Total cash, cash equivalents, restricted cash, and restricted cash equivalents 138.4 220.9 365.3
Accrued investment income 378.1 282.5 217.4
Premiums receivable, net of allowance for credit losses of $361.2, $295.0, and $343.3 12,408.0 10,416.9 10,867.7
Reinsurance recoverables 5,331.2 5,832.1 6,306.8
Prepaid reinsurance premiums 235.0 295.5 367.5
Deferred acquisition costs 1,732.1 1,544.4 1,585.2
Property and equipment, net of accumulated depreciation of $1,596.9, $1,499.0, and $1,551.1 919.8 1,034.0 1,067.1
Goodwill 227.9 227.9 227.9
Intangible assets, net of accumulated amortization of $170.0, $153.1, and $158.6 74.9 86.3 91.8
Net federal deferred income taxes 1,357.1 1,131.5 1,269.5
Other assets 979.6 844.7 827.6
Total assets 85,652.6 75,465.0 75,524.2 Close
Liabilities      
Unearned premiums 20,761.7 17,293.6 17,796.9
Loss and loss adjustment expense reserves 33,577.3 30,359.3 30,631.8
Accounts payable, accrued expenses, and other liabilities 7,030.7 5,532.8 5,931.9
Debt [1] 6,887.6 6,388.3 6,387.4
Total liabilities 68,257.3 59,574.0 60,748.0 Close
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, including treasury shares of 212.6, 212.5, and 212.7) 585.0 584.9 585.1
Paid-in capital 1,977.9 1,893.0 1,839.6
Retained earnings 17,380.9 15,721.2 14,987.5
Accumulated other comprehensive income (loss):      
Net unrealized gains (losses) on fixed-maturity securities (3,027.3) (2,786.3) (3,113.8)
Net unrealized losses on forecasted transactions (14.1) (14.5) (14.6)
Foreign currency translation adjustment (1.0) (1.2) (1.5)
Total accumulated other comprehensive income (loss) (3,042.4) (2,802.0) (3,129.9)
Total shareholders’ equity 17,395.3 15,891.0 14,776.2 Close
Total liabilities and shareholders’ equity $ 85,652.6 $ 75,465.0 $ 75,524.2
[1] Consists of long-term debt. See Note 4 – Debt for further discussion.