Fixed income securities, held-to-maturity at carrying value (fair value 19,540 2026 23,939 2025)
20,107
21,311
23,942
24,243
Less allowance for credit losses
0
0
0
0
Fixed income securities, held-to-maturity, net of allowance for credit losses
20,107
21,311
23,942
24,243
Fixed income securities, available-for-sale at fair value (allowance for credit losses 39,102 2026 and 31,287 2025 amortized cost 10,131,816 2026 and 9,576,878 2025)
9,909,753
9,727,775
9,457,176
9,275,424
Commercial mortgage loans at carrying value (fair value 267,408 2026 and 274,895 2025)
273,175
273,901
277,895
273,681
Less allowance for credit losses
3,464
206
213
207
Commercial mortgage loans, net of allowance for credit losses
269,711
273,695
277,682
273,474
Equity securities at fair value (cost377,480 2026 370,104 2025)
413,106
388,277
384,416
380,105
Short-term investments
378,879
451,793
648,542
587,911
Alternative investments
473,864
431,419
418,525
417,066
Other investments
111,440
96,923
92,157
93,302
Total investments (note 4 and 5)
11,576,860
11,391,193
11,302,440
11,051,525
Cash
557
176
346
430
Restricted cash
10,370
10,717
17,612
23,726
Accrued investment income
101,571
93,737
92,003
86,838
Premiums receivable
1,661,814
1,604,607
1,555,201
1,638,087
Less allowance for credit losses (note 6)
24,100
22,400
21,300
21,600
Premiums receivable, net of allowance for credit losses
1,637,714
1,582,207
1,533,901
1,616,487
Reinsurance recoverable
954,248
909,684
917,495
949,434
Less allowance for credit losses (note 7)
2,000
2,000
2,000
2,000
Reinsurance recoverable, net of allowance for credit losses
952,248
907,684
915,495
947,434
Prepaid reinsurance premiums
273,062
266,875
266,332
274,433
Current federal income tax
1,939
-
-
567
Deferred federal income tax
137,880
133,651
110,905
113,006
Property and equipment at cost, net of accumulated depreciation and amortization of 311,425 2026 297,211 2025
116,498
109,912
106,390
102,417
Deferred policy acquisition costs
484,585
491,206
492,270
510,257
Goodwill
7,849
7,849
7,849
7,849
Other assets
314,816
326,727
310,167
245,442
Total assets
15,615,949
15,321,934
15,155,710
14,980,411
Reserve for loss and loss expense (note 8)
7,681,439
7,418,420
7,225,398
7,076,422
Unearned premiums
2,765,749
2,754,376
2,745,521
2,840,817
Long-term debt
900,959
901,422
901,873
902,317
Current federal income tax
0
44,799
16,939
0
Accrued salaries and benefits
122,186
115,177
140,786
131,823
Other liabilities
482,629
500,361
516,218
539,070
Total liabilities
11,952,962
11,734,555
11,546,735
11,490,449
Preferred stock
200,000
200,000
200,000
200,000
Common stock
212,538
212,376
212,013
211,877
Additional paid-in capital
614,724
605,602
591,272
584,425
Retained earnings
3,671,632
3,570,453
3,500,774
3,373,905
Accumulated other comprehensive income (loss) (note 11)
-225,078
-222,601
-151,660
-167,316
Treasury stock at cost (shares 46,700,278 2026 45,930,091 2025)
810,829
778,451
743,424
712,929
Total stockholders equity
3,662,987
3,587,379
3,608,975
3,489,962
Total liabilities and stockholders equity
15,615,949
15,321,934
15,155,710
14,980,411
Unit: Thousand (K) dollars (except for numbers of shares and EPS). Numbers labeled with * are estimated quarterly values.
Time Plot
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