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Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 2023
Assets      
Fixed maturities (amortized cost: $69,668.2, $57,484.7, and $62,441.9) $ 67,488.3 $ 60,378.2 $ 54,078.1
Short-term investments (amortized cost: $733.4, $1,494.3, and $1,789.9) 733.4 1,789.9 1,494.3
Total available-for-sale securities 68,221.7 62,168.1 55,572.4
Nonredeemable preferred stocks (cost: $886.9, $1,107.1, and $977.1) 838.2 902.1 985.1
Common equities (cost: $707.8, $662.0, and $706.0) 3,295.6 2,928.4 2,708.1
Total equity securities 4,133.8 3,830.5 3,693.2
Total investments 72,355.5 65,998.6 59,265.6
Cash and cash equivalents 90.2 84.9 163.9
Restricted cash and cash equivalents 11.5 14.7 15.6
Total cash, cash equivalents, restricted cash, and restricted cash equivalents 101.7 99.6 179.5
Accrued investment income 564.1 438.0 354.2
Premiums receivable, net of allowance for credit losses of $327.9, $343.9, and $369.1 14,544.5 11,958.2 12,273.3
Reinsurance recoverables 4,881.4 5,093.9 5,516.9
Prepaid reinsurance premiums 290.8 249.8 242.9
Deferred acquisition costs 1,938.3 1,687.4 1,685.6
Property and equipment, net of accumulated depreciation of $1,557.7, $1,580.1, and $1,655.1 713.5 880.8 989.0
Net federal deferred income taxes 1,001.0 936.0 1,198.5
Other assets 1,502.2 1,348.5 1,239.7
Total assets 97,893.0 88,690.8 82,945.2 Close
Liabilities      
Unearned premiums 23,680.4 20,133.7 20,070.1
Loss and loss adjustment expense reserves 36,605.2 34,389.2 32,753.3
Accounts payable, accrued expenses, and other liabilities 7,376.3 7,002.2 6,524.0
Debt [1] 6,890.7 6,888.6 6,886.5
Total liabilities 74,552.6 68,413.7 66,233.9 Close
Shareholders' Equity      
Serial Preferred Shares, Series B, no par value (cumulative, liquidation preference $1,000 per share) (authorized, issued, and outstanding of $0, $0.5, and $0.5) 0.0 493.9 493.9
Common shares, $1.00 par value (authorized 900.0; issued 797.6, including treasury shares of 211.9, 212.3, and 212.3) 585.7 585.3 585.3
Paid-in capital 2,060.5 2,013.1 1,935.7
Retained earnings 22,410.0 18,800.5 16,350.4
Accumulated other comprehensive income (loss):      
Net unrealized gains (losses) on fixed-maturity securities (1,700.9) (1,600.8) (2,638.7)
Net unrealized losses on forecasted transactions (13.8) (14.0) (14.3)
Foreign currency translation adjustment (1.1) (0.9) (1.0)
Total accumulated other comprehensive income (loss) (1,715.8) (1,615.7) (2,654.0)
Total shareholders’ equity 23,340.4 20,277.1 16,711.3 Close
Total liabilities and shareholders’ equity $ 97,893.0 $ 88,690.8 $ 82,945.2
[1] Consists of long-term debt. See Note 4 – Debt for further discussion.