2020 Q4 Form 10-Q Financial Statement

#000109507320000045 Filed on November 09, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $222.3M $2.610B $2.043B
YoY Change 52.21% 27.79% 5.48%
Cost Of Revenue $1.736B $1.372B
YoY Change 26.55% 9.59%
Gross Profit $874.0M $670.6M
YoY Change 30.33% -2.05%
Gross Profit Margin 33.48% 32.83%
Selling, General & Admin $525.0M $456.0M $451.5M
YoY Change 13.98% 1.0% 15.98%
% of Gross Profit 52.18% 67.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.551B $2.206B $1.942B
YoY Change 28.37% 13.62% 11.64%
Operating Profit -$1.332B -$1.271B
YoY Change 4.81% 20.53%
Interest Expense -$14.80M $6.641M $7.907M
YoY Change 92.21% -16.01% 0.08%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $119.4M $272.5M $93.02M
YoY Change -45.5% 192.96% -50.91%
Income Tax $57.30M $29.45M -$11.38M
% Of Pretax Income 47.99% 10.81% -12.23%
Net Earnings $63.60M $243.1M $104.4M
YoY Change -70.78% 132.82% -47.38%
Net Earnings / Revenue 28.6% 9.31% 5.11%
Basic Earnings Per Share $1.59 $6.08 $2.56
Diluted Earnings Per Share $1.59 $6.07 $2.56
COMMON SHARES
Basic Shares Outstanding 39.97M shares 39.48M shares 40.29M shares
Diluted Shares Outstanding 39.56M shares 40.41M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $801.7M $938.9M $717.2M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $149.0M $149.0M $59.00M
YoY Change -7.45% 152.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.013B $1.912B $1.716B
YoY Change 14.12% 11.4% 13.75%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $32.71B $30.15B $27.02B
YoY Change 19.72% 11.58% 10.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $176.0M $171.0M $73.00M
YoY Change 1.73% 134.25% 812.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $383.0M $291.0M $127.0M
YoY Change 87.75% 129.13% 13.39%
LONG-TERM LIABILITIES
Long-Term Debt $1.910B $711.0M $634.0M
YoY Change 201.26% 12.15% 0.0%
Other Long-Term Liabilities $521.0M $459.0M $319.0M
YoY Change 52.79% 43.89% 32.92%
Total Long-Term Liabilities $2.431B $1.170B $953.0M
YoY Change 149.33% 22.77% 9.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $383.0M $291.0M $127.0M
Total Long-Term Liabilities $2.431B $1.170B $953.0M
Total Liabilities $22.99B $20.56B $18.04B
YoY Change 26.35% 13.98% 12.18%
SHAREHOLDERS EQUITY
Retained Earnings $10.57B $10.57B $10.15B
YoY Change 2.53% 4.07% 1.38%
Common Stock $696.0K $696.0K $694.0K
YoY Change 0.29% 0.29% 0.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.622B $3.622B $3.422B
YoY Change 5.84% 5.84% 0.72%
Treasury Stock Shares 29.64M shares 29.64M shares 28.67M shares
Shareholders Equity $9.726B $9.591B $8.983B
YoY Change
Total Liabilities & Shareholders Equity $32.71B $30.15B $27.02B
YoY Change 19.72% 11.58% 10.7%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $63.60M $243.1M $104.4M
YoY Change -70.78% 132.82% -47.38%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $683.0M $1.086B $633.4M
YoY Change 87.07% 71.46% 54.11%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.954B -$1.100B -$521.4M
YoY Change 873.64% 111.03% 86.61%
Cash From Investing Activities -$1.954B -$1.100B -$521.4M
YoY Change 873.64% 111.03% 86.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.137B 26.20M -58.00M
YoY Change -2004.36% -145.17% -42.91%
NET CHANGE
Cash From Operating Activities 683.0M 1.086B 633.4M
Cash From Investing Activities -1.954B -1.100B -521.4M
Cash From Financing Activities 1.137B 26.20M -58.00M
Net Change In Cash -134.2M 11.90M 54.00M
YoY Change -228.18% -77.96% 80.0%
FREE CASH FLOW
Cash From Operating Activities $683.0M $1.086B $633.4M
Capital Expenditures
Free Cash Flow
YoY Change

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791817000 USD
CY2020Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
63480000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
335835000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
524589000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
529000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-12689000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
4220000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
52027000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
93236000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
348524000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
520369000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
60628000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-3426000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
30390000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-15206000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-1806000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-1363000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-4532000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-3665000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1806000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1363000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-4532000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-3665000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
114461000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
91173000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
383446000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
508828000 USD
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
357518000 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
195571000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
833995000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1300645000 USD
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.56
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
11.20
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
19.44
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.56
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
11.18
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
19.38
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.55
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.40
CY2020Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.55
CY2019Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.40
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.55
CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.40
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
9591292000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
8983258000 USD
us-gaap Profit Loss
ProfitLoss
450549000 USD
us-gaap Profit Loss
ProfitLoss
791817000 USD
us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
219637000 USD
us-gaap Increase Decrease In Funds Held Under Reinsurance Agreements
IncreaseDecreaseInFundsHeldUnderReinsuranceAgreements
17961000 USD
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
42891000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-168360000 USD
us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
145846000 USD
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
553668000 USD
us-gaap Increase Decrease In Future Policy Benefit Reserves
IncreaseDecreaseInFuturePolicyBenefitReserves
-2502000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
388597000 USD
us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
160306000 USD
re Increase Decrease In Losses In Course Of Payment
IncreaseDecreaseInLossesInCourseOfPayment
-6438000 USD
re Change In Equity Adjustments In Limited Partnerships
ChangeInEquityAdjustmentsInLimitedPartnerships
104987000 USD
us-gaap Reimbursement From Limited Partnership Investment
ReimbursementFromLimitedPartnershipInvestment
62359000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
37449000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
25386000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
23642000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
84263000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
109561000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1486863000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1781821000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1631298000 USD
re Proceeds From Sale Of Available For Sale Securities Debt Market Value
ProceedsFromSaleOfAvailableForSaleSecuritiesDebtMarketValue
2589232000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
2054000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
2706000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
329750000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
185157000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
210527000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
215800000 USD
re Payments To Acquire Available For Sale Securities Debt Market Value
PaymentsToAcquireAvailableForSaleSecuritiesDebtMarketValue
3874890000 USD
re Payments To Acquire Available For Sale Securities Debt Market Value
PaymentsToAcquireAvailableForSaleSecuritiesDebtMarketValue
5039728000 USD
us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
460953000 USD
us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
269969000 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
392650000 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
299480000 USD
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
804744000 USD
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
213048000 USD
re Net Change In Unsettled Securities Transactions
NetChangeInUnsettledSecuritiesTransactions
-89064000 USD
re Net Change In Unsettled Securities Transactions
NetChangeInUnsettledSecuritiesTransactions
13770000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1729274000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1211802000 USD
re Payments For Shares Issued For Share Based Compensation Net Of Expense
PaymentsForSharesIssuedForShareBasedCompensationNetOfExpense
13617000 USD
re Payments For Shares Issued For Share Based Compensation Net Of Expense
PaymentsForSharesIssuedForShareBasedCompensationNetOfExpense
7836000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
200020000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
24604000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
187110000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
171131000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
10647000 USD
re Proceeds From Payments For Federal Home Loan Bank Advance
ProceedsFromPaymentsForFederalHomeLoanBankAdvance
90000000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
15298000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
12473000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-336691000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-216044000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2060000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
61077000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
808036000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
656095000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
938881000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
717172000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-169149000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-80544000 USD
us-gaap Interest Paid Net
InterestPaidNet
16731000 USD
us-gaap Interest Paid Net
InterestPaidNet
19078000 USD
us-gaap Nature Of Operations
NatureOfOperations
<div id="TextBlockContainer2" style="position:relative;font-family:Calibri;font-size:13.36px;color:#000000;line-height:normal;width:625px;height:85px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a2778" style="position:absolute;font-weight:bold;font-style:normal;left:4.027px;top:0px;">1.<div style="display:inline-block;width:9.1px"> </div>GENERAL </div><div id="a2783" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:16.3px;"><div style="display:inline-block;width:3.04px"> </div></div><div id="a2785" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:32.6px;">Everest Re<div style="display:inline-block;width:4.91px"> </div>Group, Ltd. (“Group”),<div style="display:inline-block;width:5.4px"> </div>a Bermuda company,<div style="display:inline-block;width:5.6px"> </div>through its subsidiaries, principally provides<div style="display:inline-block;width:5.46px"> </div>reinsurance </div><div id="a2787" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:48.8px;">and insurance<div style="display:inline-block;width:6.35px"> </div>in the<div style="display:inline-block;width:6.11px"> </div>U.S., Bermuda<div style="display:inline-block;width:6.18px"> </div>and international<div style="display:inline-block;width:6.34px"> </div>markets.<div style="display:inline-block;width:9.62px"> </div>As used<div style="display:inline-block;width:6.11px"> </div>in this<div style="display:inline-block;width:6.07px"> </div>document, “Company” means </div><div id="a2788" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:65.1px;">Group and its subsidiaries.</div></div>
us-gaap Basis Of Accounting
BasisOfAccounting
<div id="TextBlockContainer4" style="position:relative;font-family:Calibri;font-size:13.36px;color:#000000;line-height:normal;width:625px;height:703px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a2791" style="position:absolute;font-weight:bold;font-style:normal;left:4.027px;top:0px;">2.<div style="display:inline-block;width:9.02px"> </div>BASIS OF PRESENTATION </div><div id="a2797" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:16.2px;"> </div><div id="a2798" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:32.5px;">The unaudited interim<div style="display:inline-block;width:8.15px"> </div>consolidated financial statements<div style="display:inline-block;width:8.78px"> </div>of the Company<div style="display:inline-block;width:8.06px"> </div>as of September 30,<div style="display:inline-block;width:8.61px"> </div>2020 and </div><div id="a2799" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:48.8px;">December 31, 2019 and for the three<div style="display:inline-block;width:7.64px"> </div>and nine months ended September 30, 2020 and 2019 include<div style="display:inline-block;width:7.79px"> </div>all </div><div id="a2800" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:65px;">adjustments, consisting of<div style="display:inline-block;width:5.63px"> </div>normal recurring accruals,<div style="display:inline-block;width:5.2px"> </div>which, in the<div style="display:inline-block;width:5.21px"> </div>opinion of management,<div style="display:inline-block;width:5.18px"> </div>are necessary for<div style="display:inline-block;width:5.43px"> </div>a </div><div id="a2802" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:81.4px;">fair statement<div style="display:inline-block;width:7.07px"> </div>of the<div style="display:inline-block;width:6.2px"> </div>results on<div style="display:inline-block;width:6.22px"> </div>an interim<div style="display:inline-block;width:6.3px"> </div>basis.<div style="display:inline-block;width:9.13px"> </div>Certain financial<div style="display:inline-block;width:6.15px"> </div>information, which<div style="display:inline-block;width:6.56px"> </div>is normally<div style="display:inline-block;width:5.99px"> </div>included in </div><div id="a2803" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:97.6px;">annual financial statements<div style="display:inline-block;width:5.12px"> </div>prepared in accordance<div style="display:inline-block;width:5.28px"> </div>with accounting principles generally<div style="display:inline-block;width:5.6px"> </div>accepted in the United </div><div id="a2805" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:113.9px;">States of<div style="display:inline-block;width:8.29px"> </div>America (“GAAP”),<div style="display:inline-block;width:7.74px"> </div>has been<div style="display:inline-block;width:7.88px"> </div>omitted since<div style="display:inline-block;width:8.14px"> </div>it is<div style="display:inline-block;width:7.79px"> </div>not required<div style="display:inline-block;width:8.14px"> </div>for interim<div style="display:inline-block;width:8.38px"> </div>reporting purposes.<div style="display:inline-block;width:13.37px"> </div>The </div><div id="a2806" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:130.2px;">December 31, 2019 consolidated balance sheet data was derived from<div style="display:inline-block;width:4.63px"> </div>audited financial statements but does not </div><div id="a2807" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:146.5px;">include all disclosures required<div style="display:inline-block;width:5.43px"> </div>by GAAP.<div style="display:inline-block;width:9.36px"> </div>The results for<div style="display:inline-block;width:4.94px"> </div>the three and nine<div style="display:inline-block;width:5.18px"> </div>months ended September 30,<div style="display:inline-block;width:5.14px"> </div>2020 </div><div id="a2809" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:162.7px;">and 2019 are not necessarily indicative of the results for a full year.<div style="display:inline-block;width:8.85px"> </div>These financial statements should be read in </div><div id="a2810" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:179px;">conjunction with the audited consolidated financial statements and notes<div style="display:inline-block;width:4.57px"> </div>thereto for the years ended December </div><div id="a2812" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:195.3px;">31, 2019, 2018 and 2017 included in the Company’s most recent Form 10-K filing. </div><div id="a2816" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:211.5px;"> </div><div id="a2817" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:227.8px;">The Company consolidates<div style="display:inline-block;width:5.92px"> </div>the results of<div style="display:inline-block;width:5.52px"> </div>operations and financial<div style="display:inline-block;width:5.64px"> </div>position of all<div style="display:inline-block;width:5.3px"> </div>voting interest<div style="display:inline-block;width:5.32px"> </div>entities ("VOE") </div><div id="a2819" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:244.1px;">in which the<div style="display:inline-block;width:7.03px"> </div>Company has<div style="display:inline-block;width:5.82px"> </div>a controlling<div style="display:inline-block;width:6.07px"> </div>financial interest<div style="display:inline-block;width:6.16px"> </div>and all variable<div style="display:inline-block;width:7.1px"> </div>interest entities<div style="display:inline-block;width:6.3px"> </div>("VIE") in which<div style="display:inline-block;width:7.05px"> </div>the </div><div id="a2820" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:260.4px;">Company is<div style="display:inline-block;width:12.19px"> </div>considered to<div style="display:inline-block;width:12.3px"> </div>be the<div style="display:inline-block;width:12.07px"> </div>primary beneficiary.<div style="display:inline-block;width:21.68px"> </div>The consolidation<div style="display:inline-block;width:12.16px"> </div>assessment, including<div style="display:inline-block;width:11.98px"> </div>the </div><div id="a2821" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:276.6px;">determination as to whether an entity qualifies as a VIE<div style="display:inline-block;width:7.53px"> </div>or VOE, depends on the facts and circumstance </div><div id="a2823" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:293px;">surrounding each entity.<div style="display:inline-block;width:3.95px"> </div></div><div id="a2825" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:309.2px;"> </div><div id="a2826" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:325.5px;">The preparation of<div style="display:inline-block;width:6.03px"> </div>financial statements<div style="display:inline-block;width:5.3px"> </div>in conformity with<div style="display:inline-block;width:5.84px"> </div>GAAP requires management<div style="display:inline-block;width:5.86px"> </div>to make estimates<div style="display:inline-block;width:6.31px"> </div>and </div><div id="a2827" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:341.8px;">assumptions that affect<div style="display:inline-block;width:6.92px"> </div>the reported amounts<div style="display:inline-block;width:6.56px"> </div>of assets and<div style="display:inline-block;width:6.34px"> </div>liabilities (and disclosure<div style="display:inline-block;width:6.14px"> </div>of contingent<div style="display:inline-block;width:5.54px"> </div>assets and </div><div id="a2829" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:358px;">liabilities) at the date of the financial statements and the reported amounts of<div style="display:inline-block;width:4.47px"> </div>revenues and expenses during the </div><div id="a2830" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:374.3px;">reporting period.<div style="display:inline-block;width:13.95px"> </div>Ultimate actual results<div style="display:inline-block;width:8.06px"> </div>could differ,<div style="display:inline-block;width:8.84px"> </div>possibly materially,<div style="display:inline-block;width:8.33px"> </div>from those estimates.<div style="display:inline-block;width:14.92px"> </div>This is </div><div id="a2832" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:390.6px;">particularly true given the<div style="display:inline-block;width:5.55px"> </div>fluid and continuing<div style="display:inline-block;width:5.04px"> </div>nature of the<div style="display:inline-block;width:5.1px"> </div>COVID-19 pandemic.<div style="display:inline-block;width:8.16px"> </div>This is an ongoing<div style="display:inline-block;width:5.41px"> </div>event and </div><div id="a2835" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:406.9px;">so is the<div style="display:inline-block;width:8.66px"> </div>Company’s evaluation<div style="display:inline-block;width:8.67px"> </div>and analysis.<div style="display:inline-block;width:14.7px"> </div>While the Company’s<div style="display:inline-block;width:9.11px"> </div>analysis considers all<div style="display:inline-block;width:8.89px"> </div>aspects of its </div><div id="a2836" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:423.1px;">operations, it<div style="display:inline-block;width:7.61px"> </div>does not<div style="display:inline-block;width:7.3px"> </div>take into<div style="display:inline-block;width:7.99px"> </div>account legal,<div style="display:inline-block;width:7.72px"> </div>regulatory or<div style="display:inline-block;width:7.5px"> </div>legislative intervention<div style="display:inline-block;width:7.68px"> </div>that could<div style="display:inline-block;width:7.45px"> </div>retroactively </div><div id="a2838" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:439.5px;">mandate or<div style="display:inline-block;width:7.95px"> </div>expand coverage<div style="display:inline-block;width:8.45px"> </div>provisions. Given<div style="display:inline-block;width:8px"> </div>the uncertainties<div style="display:inline-block;width:7.92px"> </div>in the<div style="display:inline-block;width:7.63px"> </div>current public<div style="display:inline-block;width:7.92px"> </div>health and<div style="display:inline-block;width:7.76px"> </div>economic </div><div id="a2840" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:455.7px;">environment, there could be an adverse impact on<div style="display:inline-block;width:4.47px"> </div>results for the Property &amp; Casualty industry and the Company </div><div id="a2842" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:472px;">for the remainder of the year.<div style="display:inline-block;width:7.69px"> </div>The impact is dependent on the shape and length of the economic recovery. </div><div id="a2844" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:488.3px;"> </div><div id="a2845" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:504.5px;">With recent<div style="display:inline-block;width:9.44px"> </div>changes in<div style="display:inline-block;width:9.34px"> </div>executive management<div style="display:inline-block;width:9.95px"> </div>and organizational<div style="display:inline-block;width:9.79px"> </div>structure, the<div style="display:inline-block;width:9.46px"> </div>Company manages<div style="display:inline-block;width:9.51px"> </div>its </div><div id="a2847" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:520.8px;">reinsurance and insurance<div style="display:inline-block;width:8.13px"> </div>operations as autonomous<div style="display:inline-block;width:7.98px"> </div>units and key<div style="display:inline-block;width:8.1px"> </div>strategic decisions are<div style="display:inline-block;width:8.23px"> </div>based on the </div><div id="a2848" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:537.1px;">aggregate operating<div style="display:inline-block;width:6.99px"> </div>results and<div style="display:inline-block;width:6.24px"> </div>projections for<div style="display:inline-block;width:6.57px"> </div>these segments<div style="display:inline-block;width:6.09px"> </div>of business.<div style="display:inline-block;width:10.68px"> </div>Accordingly, effective<div style="display:inline-block;width:7.84px"> </div>January 1, </div><div id="a2849" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:553.4px;">2020, the<div style="display:inline-block;width:6.42px"> </div>Company revised<div style="display:inline-block;width:6.69px"> </div>it reporting<div style="display:inline-block;width:6.61px"> </div>segments to<div style="display:inline-block;width:6.55px"> </div>Reinsurance Operations<div style="display:inline-block;width:6.96px"> </div>and Insurance<div style="display:inline-block;width:6.53px"> </div>Operations.<div style="display:inline-block;width:9.74px"> </div>This </div><div id="a2851" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:569.6px;">replaces the<div style="display:inline-block;width:11.9px"> </div>previous reported<div style="display:inline-block;width:12.38px"> </div>segments of<div style="display:inline-block;width:11.82px"> </div>U.S. Reinsurance,<div style="display:inline-block;width:12.37px"> </div>International (reinsurance),<div style="display:inline-block;width:12.48px"> </div>Bermuda </div><div id="a2852" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:585.9px;">(reinsurance) and Insurance.<div style="display:inline-block;width:7.28px"> </div>The prior year presented segment information<div style="display:inline-block;width:4.86px"> </div>has been reformatted to<div style="display:inline-block;width:4.76px"> </div>reflect this </div><div id="a2855" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:602.2px;">change.<div style="display:inline-block;width:6.06px"> </div></div><div id="a2857" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:618.5px;"> </div><div id="a2858" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:634.7px;">All intercompany accounts and transactions have been eliminated.<div style="display:inline-block;width:7.3px"> </div></div><div id="a2860" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:651.1px;"> </div><div id="a2861" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:667.3px;">Certain reclassifications<div style="display:inline-block;width:6.13px"> </div>and format<div style="display:inline-block;width:5.86px"> </div>changes have<div style="display:inline-block;width:6.05px"> </div>been made to<div style="display:inline-block;width:6.98px"> </div>prior years’<div style="display:inline-block;width:5.97px"> </div>amounts to<div style="display:inline-block;width:5.78px"> </div>conform to<div style="display:inline-block;width:6.21px"> </div>the 2020 </div><div id="a2862" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:683.6px;">presentation.<div style="display:inline-block;width:6.5px"> </div></div></div><div id="TextBlockContainer6" style="position:relative;font-family:Calibri;font-size:13.36px;color:#000000;line-height:normal;width:625px;height:878px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a2867" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:0px;"> </div><div id="a2868" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:16.2px;">Application of Recently Issued Accounting Standard Changes.<div style="display:inline-block;width:6.69px"> </div></div><div id="a2871" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:32.6px;"> </div><div id="a2872" style="position:absolute;font-weight:normal;font-style:italic;left:4.027px;top:48.8px;">Modernization of Regulation<div style="display:inline-block;width:6.75px"> </div>S-K Disclosures.<div style="display:inline-block;width:4.05px"> </div></div><div id="a2877" style="position:absolute;font-weight:normal;font-style:normal;left:257.254px;top:48.8px;">In August 2020,<div style="display:inline-block;width:6.59px"> </div>the Securities and<div style="display:inline-block;width:6.39px"> </div>Exchange Commission<div style="display:inline-block;width:5.58px"> </div>(“SEC”) </div><div id="a2878" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:65.1px;">issued Final<div style="display:inline-block;width:8.05px"> </div>Rule Release<div style="display:inline-block;width:8.22px"> </div>#33-10825 which<div style="display:inline-block;width:7.92px"> </div>addresses the<div style="display:inline-block;width:8.23px"> </div>modernization of<div style="display:inline-block;width:8.23px"> </div>the disclosure<div style="display:inline-block;width:8.15px"> </div>requirements for </div><div id="a2881" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:81.4px;">business, legal<div style="display:inline-block;width:8.14px"> </div>proceeding and<div style="display:inline-block;width:8.18px"> </div>risk factor<div style="display:inline-block;width:8.28px"> </div>disclosures in<div style="display:inline-block;width:8.1px"> </div>Regulation S-K<div style="display:inline-block;width:8.32px"> </div>filings.<div style="display:inline-block;width:8.5px"> </div>Rule #33-10825<div style="display:inline-block;width:7.89px"> </div>will become </div><div id="a2890" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:97.7px;">effective for<div style="display:inline-block;width:9.27px"> </div>all financial<div style="display:inline-block;width:8.29px"> </div>reports filed<div style="display:inline-block;width:8.35px"> </div>after November<div style="display:inline-block;width:8.59px"> </div>9, 2020<div style="display:inline-block;width:8.27px"> </div>(30 days<div style="display:inline-block;width:8.75px"> </div>after its<div style="display:inline-block;width:8.5px"> </div>publication in<div style="display:inline-block;width:8.45px"> </div>the Federal </div><div id="a2891" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:113.9px;">Register) and will<div style="display:inline-block;width:5.23px"> </div>be adopted by<div style="display:inline-block;width:5.07px"> </div>the Company in<div style="display:inline-block;width:5.08px"> </div>the fourth quarter<div style="display:inline-block;width:5.07px"> </div>of 2020 for<div style="display:inline-block;width:5.05px"> </div>implementation within its<div style="display:inline-block;width:5px"> </div>2020 </div><div id="a2893" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:130.3px;">10-K filings. </div><div id="a2897" style="position:absolute;font-weight:normal;font-style:italic;left:4.027px;top:146.5px;"> </div><div id="a2898" style="position:absolute;font-weight:normal;font-style:italic;left:4.027px;top:162.8px;">Accounting for Income Taxes</div><div id="a2899" style="position:absolute;font-weight:normal;font-style:normal;left:159.974px;top:162.8px;">.<div style="display:inline-block;width:6.31px"> </div>In December 2019, The Financial Accounting Standards Board<div style="display:inline-block;width:4.55px"> </div>(“FASB”) issued ASU </div><div id="a2900" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:179.1px;">2019-12, which<div style="display:inline-block;width:5.9px"> </div>provides simplification<div style="display:inline-block;width:6.26px"> </div>of existing<div style="display:inline-block;width:6.26px"> </div>guidance for<div style="display:inline-block;width:6.21px"> </div>income taxes,<div style="display:inline-block;width:6.56px"> </div>including the removal<div style="display:inline-block;width:7.63px"> </div>of certain </div><div id="a2904" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:195.3px;">exceptions related<div style="display:inline-block;width:5.69px"> </div>to recognition of<div style="display:inline-block;width:5.92px"> </div>deferred tax<div style="display:inline-block;width:5.62px"> </div>liabilities on foreign<div style="display:inline-block;width:6.03px"> </div>subsidiaries. The guidance<div style="display:inline-block;width:5.41px"> </div>is effective<div style="display:inline-block;width:5.44px"> </div>for </div><div id="a2905" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:211.6px;">annual reporting<div style="display:inline-block;width:5.6px"> </div>periods beginning after<div style="display:inline-block;width:6.85px"> </div>December 15, 2020<div style="display:inline-block;width:6.8px"> </div>and interim periods<div style="display:inline-block;width:6.92px"> </div>within that<div style="display:inline-block;width:5.66px"> </div>annual reporting </div><div id="a2907" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:227.9px;">period. The Company is<div style="display:inline-block;width:8.06px"> </div>currently evaluating the<div style="display:inline-block;width:8.01px"> </div>impact of the adoption<div style="display:inline-block;width:7.9px"> </div>of ASU 2019-12 on<div style="display:inline-block;width:7.9px"> </div>its financial </div><div id="a2910" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:244.2px;">statements. </div><div id="a2912" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:260.4px;"> </div><div id="a2913" style="position:absolute;font-weight:normal;font-style:italic;left:4.027px;top:276.7px;">Simplification of<div style="display:inline-block;width:6.22px"> </div>Disclosure Requirements.<div style="display:inline-block;width:4.68px"> </div></div><div id="a2916" style="position:absolute;font-weight:normal;font-style:normal;left:242.854px;top:276.7px;">In August<div style="display:inline-block;width:6.27px"> </div>2018, the<div style="display:inline-block;width:6.18px"> </div>SEC issued<div style="display:inline-block;width:6.27px"> </div>Final Rule<div style="display:inline-block;width:6.1px"> </div>Release #33-10532<div style="display:inline-block;width:6.33px"> </div>(“the </div><div id="a2919" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:293px;">Rule”) which addresses the simplification<div style="display:inline-block;width:5.12px"> </div>of the SEC’s disclosure<div style="display:inline-block;width:4.8px"> </div>requirements for quarterly<div style="display:inline-block;width:4.86px"> </div>and annual financial </div><div id="a2921" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:309.3px;">reports.<div style="display:inline-block;width:7.02px"> </div>The main changes<div style="display:inline-block;width:5.37px"> </div>addressed by the<div style="display:inline-block;width:5.61px"> </div>Rule that are<div style="display:inline-block;width:5.64px"> </div>applicable to the<div style="display:inline-block;width:5.59px"> </div>Company are 1)<div style="display:inline-block;width:5.73px"> </div>elimination of the </div><div id="a2925" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:325.5px;">requirement to disclose dividend per share information<div style="display:inline-block;width:7.63px"> </div>on the face of the Statements of Operations<div style="display:inline-block;width:7.79px"> </div>and </div><div id="a2927" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:341.8px;">Comprehensive Income (Loss) and 2) a new requirement to disclose<div style="display:inline-block;width:4.48px"> </div>changes in equity by line item with subtotals </div><div id="a2928" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:358.1px;">for each<div style="display:inline-block;width:8.64px"> </div>interim reporting<div style="display:inline-block;width:8.54px"> </div>period on<div style="display:inline-block;width:8.26px"> </div>the Statements<div style="display:inline-block;width:8.74px"> </div>of Changes<div style="display:inline-block;width:8.33px"> </div>in Shareholders’<div style="display:inline-block;width:8.64px"> </div>Equity. The<div style="display:inline-block;width:9.32px"> </div>Rule became </div><div id="a2930" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:374.3px;">effective for<div style="display:inline-block;width:9.27px"> </div>all financial<div style="display:inline-block;width:8.29px"> </div>reports filed<div style="display:inline-block;width:8.35px"> </div>after November<div style="display:inline-block;width:8.59px"> </div>5, 2018<div style="display:inline-block;width:8.27px"> </div>(30 days<div style="display:inline-block;width:8.75px"> </div>after its<div style="display:inline-block;width:8.5px"> </div>publication in<div style="display:inline-block;width:8.45px"> </div>the Federal </div><div id="a2931" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:390.7px;">Register), except<div style="display:inline-block;width:7.16px"> </div>for the<div style="display:inline-block;width:6.38px"> </div>additional requirement<div style="display:inline-block;width:6.43px"> </div>for the<div style="display:inline-block;width:6.3px"> </div>Statements of<div style="display:inline-block;width:6.64px"> </div>Changes in<div style="display:inline-block;width:6.16px"> </div>Shareholders’ Equity<div style="display:inline-block;width:6.55px"> </div>which </div><div id="a2932" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:406.9px;">was to be implemented for<div style="display:inline-block;width:5.17px"> </div>first quarter 2019 reporting. The<div style="display:inline-block;width:4.89px"> </div>Company has adopted the portions of<div style="display:inline-block;width:4.78px"> </div>the Rule that </div><div id="a2934" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:423.2px;">became effective November 5, 2018.<div style="display:inline-block;width:6.93px"> </div>The portion of the Rule related to the new requirement for the Statements </div><div id="a2938" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:439.5px;">of Changes in Shareholders’ Equity was adopted by the Company in the first quarter of 2019. </div><div id="a2941" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:455.8px;"> </div><div id="a2942" style="position:absolute;font-weight:normal;font-style:italic;left:4.027px;top:472.1px;white-spacepre-wrap">Accounting for Cloud Computing Arrangement.<div style="display:inline-block;width:4.52px"> </div></div><div id="a2945" style="position:absolute;font-weight:normal;font-style:normal;left:280.214px;top:472.1px;">In August 2018, FASB<div style="display:inline-block;width:7.82px"> </div>issued ASU 2018-15, which outlines </div><div id="a2948" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:488.4px;">accounting for implementation costs<div style="display:inline-block;width:4.93px"> </div>of a cloud computing arrangement that<div style="display:inline-block;width:4.89px"> </div>is a service contract.<div style="display:inline-block;width:7.37px"> </div>This guidance </div><div id="a2953" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:504.6px;">requires that implementation costs<div style="display:inline-block;width:7.61px"> </div>of a cloud computing arrangement that is<div style="display:inline-block;width:7.62px"> </div>a service contract must be </div><div id="a2954" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:520.9px;">capitalized and<div style="display:inline-block;width:9.11px"> </div>expensed in<div style="display:inline-block;width:8.69px"> </div>accordance with<div style="display:inline-block;width:8.79px"> </div>the existing<div style="display:inline-block;width:8.9px"> </div>provisions provided<div style="display:inline-block;width:8.98px"> </div>in Subtopic<div style="display:inline-block;width:8.61px"> </div>350-40 regarding </div><div id="a2957" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:537.2px;">development of<div style="display:inline-block;width:6.52px"> </div>internal use<div style="display:inline-block;width:6.51px"> </div>software. In<div style="display:inline-block;width:6.51px"> </div>addition, any<div style="display:inline-block;width:6.44px"> </div>capitalized implementation<div style="display:inline-block;width:7.07px"> </div>costs should<div style="display:inline-block;width:6.51px"> </div>be amortized </div><div id="a2959" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:553.4px;">over the term of the hosting arrangement.<div style="display:inline-block;width:6.98px"> </div>The guidance is effective for annual reporting periods beginning after </div><div id="a2963" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:569.7px;">December 15, 2019 and interim periods within that annual reporting period. The Company adopted the guidance </div><div id="a2966" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:586px;">as of January<div style="display:inline-block;width:5.18px"> </div>1, 2020. The<div style="display:inline-block;width:5.3px"> </div>adoption of ASU<div style="display:inline-block;width:5.21px"> </div>2018-15 did not<div style="display:inline-block;width:5.22px"> </div>have a material<div style="display:inline-block;width:5.82px"> </div>impact on the<div style="display:inline-block;width:5.27px"> </div>Company’s financial </div><div id="a2969" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:602.3px;">statements. </div><div id="a2971" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:618.5px;"> </div><div id="a2972" style="position:absolute;font-weight:normal;font-style:italic;left:4.027px;top:638.9px;">Accounting for Long<div style="display:inline-block;width:5.56px"> </div>Duration Contracts.<div style="display:inline-block;width:3.7px"> </div></div><div id="a2975" style="position:absolute;font-weight:normal;font-style:normal;left:230.934px;top:638.9px;">In August 2018,<div style="display:inline-block;width:5.23px"> </div>FASB issued<div style="display:inline-block;width:5.05px"> </div>ASU 2018-12, which<div style="display:inline-block;width:5.11px"> </div>discusses changes to </div><div id="a2979" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:655.1px;">the recognition, measurement and presentation of long duration contracts.<div style="display:inline-block;width:7.89px"> </div>The main provisions of this guidance </div><div id="a2983" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:671.3px;">address the<div style="display:inline-block;width:6.34px"> </div>following:<div style="display:inline-block;width:7.84px"> </div>1) In<div style="display:inline-block;width:6.17px"> </div>determining liability<div style="display:inline-block;width:6.31px"> </div>for future<div style="display:inline-block;width:6.56px"> </div>policy benefits,<div style="display:inline-block;width:6.25px"> </div>companies must<div style="display:inline-block;width:6.31px"> </div>review cash<div style="display:inline-block;width:6.58px"> </div>flow </div><div id="a2987" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:687.7px;">assumptions at least annually and the discount<div style="display:inline-block;width:4.63px"> </div>rate assumption at each reporting<div style="display:inline-block;width:4.65px"> </div>period date 2) Amortization of </div><div id="a2989" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:703.9px;">deferred acquisition<div style="display:inline-block;width:8.38px"> </div>costs has<div style="display:inline-block;width:8.18px"> </div>been simplified<div style="display:inline-block;width:7.84px"> </div>to be<div style="display:inline-block;width:8.16px"> </div>in constant<div style="display:inline-block;width:8.45px"> </div>level proportion<div style="display:inline-block;width:8.24px"> </div>to either<div style="display:inline-block;width:8.04px"> </div>premiums, gross </div><div id="a2990" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:720.2px;">profits or<div style="display:inline-block;width:8.89px"> </div>gross margins<div style="display:inline-block;width:8.97px"> </div>3) Disaggregated<div style="display:inline-block;width:9.13px"> </div>roll forwards<div style="display:inline-block;width:9.27px"> </div>of beginning<div style="display:inline-block;width:8.58px"> </div>and ending<div style="display:inline-block;width:8.6px"> </div>liabilities for<div style="display:inline-block;width:8.76px"> </div>future policy </div><div id="a2993" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:736.5px;">benefits are required.<div style="display:inline-block;width:9.22px"> </div>The guidance was<div style="display:inline-block;width:8.57px"> </div>originally effective<div style="display:inline-block;width:8.35px"> </div>for annual reporting<div style="display:inline-block;width:8.96px"> </div>periods beginning after </div><div id="a2994" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:752.8px;">December 15, 2020 and interim periods within that<div style="display:inline-block;width:4.72px"> </div>annual reporting period. However,<div style="display:inline-block;width:5.26px"> </div>FASB issued ASU 2019-09 </div><div id="a2998" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:769px;">in November 2019 which defers the<div style="display:inline-block;width:4.77px"> </div>effective date of ASU 2018-12<div style="display:inline-block;width:4.73px"> </div>until annual reporting periods beginning after </div><div id="a3001" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:785.3px;">December 15,<div style="display:inline-block;width:6.9px"> </div>2021. The<div style="display:inline-block;width:7.06px"> </div>Company is<div style="display:inline-block;width:7.21px"> </div>currently evaluating<div style="display:inline-block;width:7.53px"> </div>the impact<div style="display:inline-block;width:6.84px"> </div>of the<div style="display:inline-block;width:7.08px"> </div>adoption of<div style="display:inline-block;width:6.99px"> </div>ASU 2018-12<div style="display:inline-block;width:6.99px"> </div>on its </div><div id="a3004" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:801.7px;">financial statements. </div><div id="a3007" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:821.9px;"> </div><div id="a3008" style="position:absolute;font-weight:normal;font-style:italic;left:4.027px;top:842.2px;">Accounting for Impact<div style="display:inline-block;width:5.58px"> </div>on Income Taxes<div style="display:inline-block;width:6.53px"> </div>due to Tax<div style="display:inline-block;width:6.32px"> </div>Reform.<div style="display:inline-block;width:3.35px"> </div></div><div id="a3011" style="position:absolute;font-weight:normal;font-style:normal;left:335.68px;top:842.2px;">In December 2017, the<div style="display:inline-block;width:5.67px"> </div>SEC issued Staff<div style="display:inline-block;width:5.49px"> </div>Accounting </div><div id="a3012" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:858.4px;">Bulletin (“SAB”)<div style="display:inline-block;width:8.06px"> </div>118 which<div style="display:inline-block;width:7.88px"> </div>provides guidance<div style="display:inline-block;width:8.23px"> </div>on the<div style="display:inline-block;width:7.97px"> </div>application of<div style="display:inline-block;width:8.11px"> </div>FASB Accounting<div style="display:inline-block;width:8.93px"> </div>Standards Codification </div></div><div id="TextBlockContainer8" style="position:relative;font-family:Calibri;font-size:13.36px;color:#000000;line-height:normal;width:625px;height:789px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a3016" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:0px;">(“ASC”) Topic<div style="display:inline-block;width:6.58px"> </div>740, Income Taxes,<div style="display:inline-block;width:7.43px"> </div>due to the<div style="display:inline-block;width:5.98px"> </div>enactment of TCJA.<div style="display:inline-block;width:9.17px"> </div>SAB 118 became<div style="display:inline-block;width:6px"> </div>effective upon<div style="display:inline-block;width:5.55px"> </div>release.<div style="display:inline-block;width:7.03px"> </div>The </div><div id="a3024" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:16.2px;">Company has adopted the<div style="display:inline-block;width:5.25px"> </div>provisions of SAB 118<div style="display:inline-block;width:5.17px"> </div>with respect to measuring<div style="display:inline-block;width:5.02px"> </div>the tax effects<div style="display:inline-block;width:5.23px"> </div>for the modifications </div><div id="a3025" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:32.6px;">to the determination<div style="display:inline-block;width:6.32px"> </div>of tax basis<div style="display:inline-block;width:6.01px"> </div>loss reserves.<div style="display:inline-block;width:8.07px"> </div>In 2018, the<div style="display:inline-block;width:5.89px"> </div>Company recorded<div style="display:inline-block;width:5.53px"> </div>adjustments to the<div style="display:inline-block;width:6.05px"> </div>amount of </div><div id="a3030" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:48.8px;">tax expense<div style="display:inline-block;width:6.3px"> </div>it recorded<div style="display:inline-block;width:6.17px"> </div>in 2017 with<div style="display:inline-block;width:7.16px"> </div>respect to<div style="display:inline-block;width:6px"> </div>the TCJA<div style="display:inline-block;width:6.2px"> </div>as estimated<div style="display:inline-block;width:6.11px"> </div>amounts were<div style="display:inline-block;width:6.04px"> </div>finalized, which<div style="display:inline-block;width:6px"> </div>did not </div><div id="a3031" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:65.2px;">have a material impact on the Company’s financial statements. </div><div id="a3033" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:85.4px;"> </div><div id="a3034" style="position:absolute;font-weight:normal;font-style:italic;left:4.027px;top:101.7px;">Amortization of<div style="display:inline-block;width:8.72px"> </div>Bond Premium.<div style="display:inline-block;width:5.64px"> </div></div><div id="a3037" style="position:absolute;font-weight:normal;font-style:normal;left:191.814px;top:101.7px;">In March<div style="display:inline-block;width:8.6px"> </div>2017, FASB<div style="display:inline-block;width:9.24px"> </div>issued ASU<div style="display:inline-block;width:8.42px"> </div>2017-08 which<div style="display:inline-block;width:8.38px"> </div>outlines guidance<div style="display:inline-block;width:8.47px"> </div>on the </div><div id="a3041" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:117.9px;">amortization period for<div style="display:inline-block;width:6.95px"> </div>premium on callable<div style="display:inline-block;width:6.55px"> </div>debt securities.<div style="display:inline-block;width:8.32px"> </div>The new guidance<div style="display:inline-block;width:6.32px"> </div>requires that<div style="display:inline-block;width:5.67px"> </div>the premium on </div><div id="a3045" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:134.3px;">callable debt securities be<div style="display:inline-block;width:5.21px"> </div>amortized through the<div style="display:inline-block;width:4.99px"> </div>earliest call date<div style="display:inline-block;width:5.1px"> </div>rather than through<div style="display:inline-block;width:5.08px"> </div>the maturity date<div style="display:inline-block;width:4.99px"> </div>of the </div><div id="a3047" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:150.5px;">callable security.<div style="display:inline-block;width:9.25px"> </div>The guidance is<div style="display:inline-block;width:6.22px"> </div>effective for<div style="display:inline-block;width:6.15px"> </div>annual and interim<div style="display:inline-block;width:6.54px"> </div>reporting periods beginning<div style="display:inline-block;width:6.19px"> </div>after December </div><div id="a3051" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:166.8px;">15, 2018.<div style="display:inline-block;width:7.75px"> </div>The Company adopted<div style="display:inline-block;width:5.84px"> </div>the guidance effective<div style="display:inline-block;width:6.1px"> </div>January 1, 2019.<div style="display:inline-block;width:5.37px"> </div>The adoption of<div style="display:inline-block;width:5.47px"> </div>ASU 2017-08 did<div style="display:inline-block;width:5.48px"> </div>not </div><div id="a3057" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:183.1px;">have a material impact on the Company’s financial statements. </div><div id="a3060" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:199.3px;"> </div><div id="a3061" style="position:absolute;font-weight:normal;font-style:italic;left:4.027px;top:215.6px;">Valuation of Financial Instruments.<div style="display:inline-block;width:4.09px"> </div></div><div id="a3064" style="position:absolute;font-weight:normal;font-style:normal;left:199.494px;top:215.6px;">In June 2016, FASB issued ASU 2016-13 (and has<div style="display:inline-block;width:4.62px"> </div>subsequently issued related </div><div id="a3067" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:231.9px;">guidance and amendments in<div style="display:inline-block;width:4.99px"> </div>ASU 2019-11 and ASU<div style="display:inline-block;width:5.01px"> </div>2019-10 in November 2019)<div style="display:inline-block;width:5.04px"> </div>which outline guidance on the </div><div id="a3074" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:248.2px;">valuation of<div style="display:inline-block;width:6.13px"> </div>and accounting<div style="display:inline-block;width:5.87px"> </div>for assets<div style="display:inline-block;width:6.11px"> </div>measured at<div style="display:inline-block;width:6.12px"> </div>amortized cost<div style="display:inline-block;width:6.29px"> </div>and available<div style="display:inline-block;width:6.06px"> </div>for sale<div style="display:inline-block;width:6.06px"> </div>debt securities.<div style="display:inline-block;width:8.8px"> </div>The </div><div id="a3078" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:264.4px;">new guidance<div style="display:inline-block;width:8.56px"> </div>requires the<div style="display:inline-block;width:8.73px"> </div>carrying value<div style="display:inline-block;width:8.67px"> </div>of assets<div style="display:inline-block;width:8.57px"> </div>measured at<div style="display:inline-block;width:8.68px"> </div>amortized cost,<div style="display:inline-block;width:9.03px"> </div>including reinsurance<div style="display:inline-block;width:8.77px"> </div>and </div><div id="a3079" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:280.7px;">premiums receivables<div style="display:inline-block;width:9.25px"> </div>to be<div style="display:inline-block;width:9.12px"> </div>presented as<div style="display:inline-block;width:9.35px"> </div>the net<div style="display:inline-block;width:9.09px"> </div>amount expected<div style="display:inline-block;width:9.25px"> </div>to be<div style="display:inline-block;width:9.12px"> </div>collected on<div style="display:inline-block;width:9.1px"> </div>the financial<div style="display:inline-block;width:8.84px"> </div>asset </div><div id="a3081" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:297px;">(amortized cost<div style="display:inline-block;width:6.31px"> </div>less an<div style="display:inline-block;width:5.88px"> </div>allowance for<div style="display:inline-block;width:6.28px"> </div>credit losses<div style="display:inline-block;width:5.93px"> </div>valuation account).<div style="display:inline-block;width:9.34px"> </div>The allowance<div style="display:inline-block;width:6px"> </div>reflects expected<div style="display:inline-block;width:6.48px"> </div>credit </div><div id="a3085" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:313.3px;">losses of<div style="display:inline-block;width:9.68px"> </div>the financial<div style="display:inline-block;width:9.74px"> </div>asset which<div style="display:inline-block;width:9.75px"> </div>considers available<div style="display:inline-block;width:10.34px"> </div>information using<div style="display:inline-block;width:10.16px"> </div>a combination<div style="display:inline-block;width:9.85px"> </div>both historical </div><div id="a3087" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:329.5px;">information, current<div style="display:inline-block;width:6.72px"> </div>market conditions<div style="display:inline-block;width:6.36px"> </div>and reasonable<div style="display:inline-block;width:6.03px"> </div>and supportable<div style="display:inline-block;width:6.07px"> </div>forecasts.<div style="display:inline-block;width:9.62px"> </div>For available<div style="display:inline-block;width:2.09px"> </div>-for-sale debt </div><div id="a3092" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:345.8px;">securities, the<div style="display:inline-block;width:8.79px"> </div>guidance modified<div style="display:inline-block;width:8.78px"> </div>the previous<div style="display:inline-block;width:8.93px"> </div>other than<div style="display:inline-block;width:8.86px"> </div>temporary impairment<div style="display:inline-block;width:9.1px"> </div>model, now<div style="display:inline-block;width:8.91px"> </div>requiring an </div><div id="a3093" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:362.1px;">allowance for estimated<div style="display:inline-block;width:5.96px"> </div>credit related losses<div style="display:inline-block;width:5.64px"> </div>rather than a<div style="display:inline-block;width:5.59px"> </div>permanent impairment, which<div style="display:inline-block;width:5.28px"> </div>will be limited<div style="display:inline-block;width:5.2px"> </div>to the </div><div id="a3095" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:378.3px;">amount by which<div style="display:inline-block;width:5.35px"> </div>fair value is<div style="display:inline-block;width:5.56px"> </div>below amortized cost.<div style="display:inline-block;width:8.8px"> </div>The guidance is<div style="display:inline-block;width:5.1px"> </div>effective for<div style="display:inline-block;width:5.35px"> </div>annual and interim<div style="display:inline-block;width:5.34px"> </div>reporting </div><div id="a3099" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:394.7px;">periods beginning after December 15, 2019.<div style="display:inline-block;width:7.36px"> </div>The Company adopted the guidance effective<div style="display:inline-block;width:5.08px"> </div>January 1, 2020, on a </div><div id="a3104" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:410.9px;">modified retrospective<div style="display:inline-block;width:5.83px"> </div>basis.<div style="display:inline-block;width:8.41px"> </div>The adoption resulted<div style="display:inline-block;width:6.87px"> </div>in a cumulative<div style="display:inline-block;width:6.8px"> </div>reduction of $</div><div id="a3104_83_5" style="position:absolute;font-weight:normal;font-style:normal;left:466.349px;top:410.9px;">4,214</div><div id="a3104_88_22" style="position:absolute;font-weight:normal;font-style:normal;left:496.749px;top:410.9px;"><div style="display:inline-block;width:4.24px"> </div>thousand in retained </div><div id="a3105" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:427.2px;">earnings, net of tax, which is disclosed separately within the Consolidated Statements<div style="display:inline-block;width:3.79px"> </div>of Shareholders’ Equity. </div><div id="a3108" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:443.5px;"> </div><div id="a3109" style="position:absolute;font-weight:normal;font-style:italic;left:4.027px;top:459.8px;">Leases</div><div id="a3110" style="position:absolute;font-weight:normal;font-style:normal;left:39.707px;top:459.8px;">.<div style="display:inline-block;width:7.19px"> </div>In February 2016, FASB<div style="display:inline-block;width:5.87px"> </div>issued ASU 2016-02 (and<div style="display:inline-block;width:5.12px"> </div>subsequently issued ASU 2018-11<div style="display:inline-block;width:5.12px"> </div>in July,<div style="display:inline-block;width:5px"> </div>2018) which </div><div id="a3115" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:476.1px;">outline new guidance<div style="display:inline-block;width:6.08px"> </div>on the accounting<div style="display:inline-block;width:6.12px"> </div>for leases.<div style="display:inline-block;width:9.3px"> </div>The new guidance<div style="display:inline-block;width:6px"> </div>requires the recognition<div style="display:inline-block;width:6.58px"> </div>of lease assets </div><div id="a3116" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:492.4px;">and lease<div style="display:inline-block;width:6.26px"> </div>liabilities on<div style="display:inline-block;width:6.03px"> </div>the balance<div style="display:inline-block;width:6.24px"> </div>sheets for<div style="display:inline-block;width:6.47px"> </div>most leases<div style="display:inline-block;width:6.26px"> </div>that were<div style="display:inline-block;width:6.65px"> </div>previously deemed<div style="display:inline-block;width:6.26px"> </div>operating leases<div style="display:inline-block;width:6.43px"> </div>and </div><div id="a3119" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:508.6px;">required only lease<div style="display:inline-block;width:5.53px"> </div>expense presentation in<div style="display:inline-block;width:5.9px"> </div>the statements of<div style="display:inline-block;width:5.9px"> </div>operations.<div style="display:inline-block;width:7.95px"> </div>The guidance is<div style="display:inline-block;width:5.18px"> </div>effective for<div style="display:inline-block;width:5.51px"> </div>annual </div><div id="a3120" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:524.9px;">and interim reporting periods beginning after<div style="display:inline-block;width:4.06px"> </div>December 15, 2018.<div style="display:inline-block;width:6.39px"> </div>The Company adopted ASU 2016-02 effective </div><div id="a3124" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:541.2px;">January 1, 2019 and elected to utilize a cumulative<div style="display:inline-block;width:1.34px"> </div>-effect adjustment to the opening balance of retained </div><div id="a3127" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:557.4px;">earnings for<div style="display:inline-block;width:5.96px"> </div>the year<div style="display:inline-block;width:5.81px"> </div>of adoption.<div style="display:inline-block;width:10.01px"> </div>Accordingly, the<div style="display:inline-block;width:6.87px"> </div>Company’s reporting<div style="display:inline-block;width:6.25px"> </div>for the<div style="display:inline-block;width:5.9px"> </div>comparative periods<div style="display:inline-block;width:6.13px"> </div>prior to </div><div id="a3129" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:573.7px;">adoption continue<div style="display:inline-block;width:7.12px"> </div>to be<div style="display:inline-block;width:7.12px"> </div>presented in<div style="display:inline-block;width:7.34px"> </div>the financial<div style="display:inline-block;width:6.84px"> </div>statements in<div style="display:inline-block;width:7.54px"> </div>accordance with<div style="display:inline-block;width:7.11px"> </div>previous lease<div style="display:inline-block;width:7.08px"> </div>accounting </div><div id="a3130" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:590px;">guidance.<div style="display:inline-block;width:7.12px"> </div>The Company also elected<div style="display:inline-block;width:5.3px"> </div>to apply the package<div style="display:inline-block;width:5.48px"> </div>of practical expedients<div style="display:inline-block;width:5.13px"> </div>applicable to the Company<div style="display:inline-block;width:5.49px"> </div>in </div><div id="a3131" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:606.3px;">the updated<div style="display:inline-block;width:5.67px"> </div>guidance for<div style="display:inline-block;width:5.68px"> </div>transition for<div style="display:inline-block;width:5.87px"> </div>leases in effect<div style="display:inline-block;width:7.11px"> </div>at adoption.<div style="display:inline-block;width:9.83px"> </div>The Company<div style="display:inline-block;width:5.56px"> </div>did not elect<div style="display:inline-block;width:6.63px"> </div>the hindsight </div><div id="a3133" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:622.5px;">practical expedient<div style="display:inline-block;width:7.3px"> </div>to determine<div style="display:inline-block;width:6.87px"> </div>the lease<div style="display:inline-block;width:6.61px"> </div>term of<div style="display:inline-block;width:6.83px"> </div>existing leases<div style="display:inline-block;width:6.95px"> </div>(e.g. The<div style="display:inline-block;width:6.53px"> </div>Company did<div style="display:inline-block;width:6.8px"> </div>not re<div style="display:inline-block;width:2px"> </div>-assess lease </div><div id="a3136" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:638.9px;">renewals, termination<div style="display:inline-block;width:5.27px"> </div>options nor purchase<div style="display:inline-block;width:5.6px"> </div>options in determining<div style="display:inline-block;width:5.82px"> </div>lease terms).<div style="display:inline-block;width:8.68px"> </div>The adoption of<div style="display:inline-block;width:5.47px"> </div>the updated </div><div id="a3138" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:655.1px;">guidance resulted in<div style="display:inline-block;width:6.41px"> </div>the Company recognizing<div style="display:inline-block;width:6.52px"> </div>a right-of-use<div style="display:inline-block;width:5.88px"> </div>asset of $</div><div id="a3138_70_6" style="position:absolute;font-weight:normal;font-style:normal;left:395.654px;top:655.1px;">69,869</div><div id="a3138_76_21" style="position:absolute;font-weight:normal;font-style:normal;left:432.854px;top:655.1px;"><div style="display:inline-block;width:4.08px"> </div>thousand as part<div style="display:inline-block;width:6.08px"> </div>of </div><div id="a3138_97_12" style="position:absolute;font-size:13.36px;left:549.574px;top:655.1px;-sec-ix-hidden:ID_1821;">other assets</div><div id="a3138_109_1" style="position:absolute;font-weight:normal;font-style:normal;left:616.614px;top:655.1px;"> </div><div id="a3143" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:671.3px;">and a lease liability of<div style="display:inline-block;width:5.1px"> </div>$</div><div id="a3143_26_6" style="position:absolute;font-weight:normal;font-style:normal;left:133.147px;top:671.3px;">77,270</div><div id="a3143_32_21" style="position:absolute;font-weight:normal;font-style:normal;left:170.266px;top:671.3px;"><div style="display:inline-block;width:3.52px"> </div>thousand as part of </div><div id="a3143_53_17" style="position:absolute;font-size:13.36px;left:284.027px;top:671.3px;-sec-ix-hidden:ID_1822;">other liabilities</div><div id="a3143_70_47" style="position:absolute;font-weight:normal;font-style:normal;left:365.226px;top:671.3px;"><div style="display:inline-block;width:3.52px"> </div>in the consolidated balance<div style="display:inline-block;width:5.03px"> </div>sheet at the time </div><div id="a3145" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:687.7px;">of adoption,<div style="display:inline-block;width:8.69px"> </div>as well<div style="display:inline-block;width:8.74px"> </div>as de-recognizing<div style="display:inline-block;width:8.85px"> </div>the liability<div style="display:inline-block;width:8.53px"> </div>for deferred<div style="display:inline-block;width:9.53px"> </div>rent that<div style="display:inline-block;width:8.96px"> </div>was required<div style="display:inline-block;width:9.01px"> </div>under the<div style="display:inline-block;width:8.64px"> </div>previous </div><div id="a3148" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:703.9px;">guidance.<div style="display:inline-block;width:6.24px"> </div>The cumulative effect adjustment to<div style="display:inline-block;width:4.57px"> </div>the opening balance of retained earnings was </div><div id="a3148_92_4" style="position:absolute;font-weight:normal;font-style:normal;left:514.268px;top:703.9px;">zero</div><div id="a3148_96_15" style="position:absolute;font-weight:normal;font-style:normal;left:537.868px;top:703.9px;">. The adoption </div><div id="a3149" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:720.2px;">of the updated guidance did not have a material effect on the Company’s<div style="display:inline-block;width:4.43px"> </div>results of operations or liquidity.<div style="display:inline-block;width:4.04px"> </div></div><div id="a3152" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:736.5px;"> </div><div id="a3153" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:752.8px;">Any issued<div style="display:inline-block;width:8.15px"> </div>guidance and<div style="display:inline-block;width:7.91px"> </div>pronouncements, other<div style="display:inline-block;width:8.02px"> </div>than those<div style="display:inline-block;width:7.89px"> </div>directly referenced<div style="display:inline-block;width:8.78px"> </div>above, are<div style="display:inline-block;width:8.28px"> </div>deemed by<div style="display:inline-block;width:7.97px"> </div>the </div><div id="a3154" style="position:absolute;font-weight:normal;font-style:normal;left:4.027px;top:769px;">Company to be either not applicable or immaterial to its financial statements.</div></div>
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
69869000 USD
CY2018Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
77270000 USD
CY2020Q3 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
17131414000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
17131414000 USD
CY2020Q3 re Available For Sale Securities Debt Securities Market Value
AvailableForSaleSecuritiesDebtSecuritiesMarketValue
17856377000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
16473491000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
55587000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
103245000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
392640000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
582662000 USD
CY2020Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3560000 USD
CY2019Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
9984000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
44116000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
62415000 USD
CY2019Q3 re Cumulative Other Than Temporary Impairment Adjustment Deferred Tax Benefit Expense
CumulativeOtherThanTemporaryImpairmentAdjustmentDeferredTaxBenefitExpense
-25000 USD
re Cumulative Other Than Temporary Impairment Adjustment Deferred Tax Benefit Expense
CumulativeOtherThanTemporaryImpairmentAdjustmentDeferredTaxBenefitExpense
122000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
52027000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
93236000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
348524000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
520369000 USD
CY2020Q3 re Gross Investment Income Before Adjustment
GrossInvestmentIncomeBeforeAdjustment
244520000 USD
CY2019Q3 re Gross Investment Income Before Adjustment
GrossInvestmentIncomeBeforeAdjustment
189229000 USD
re Gross Investment Income Before Adjustment
GrossInvestmentIncomeBeforeAdjustment
444688000 USD
re Gross Investment Income Before Adjustment
GrossInvestmentIncomeBeforeAdjustment
523050000 USD
CY2020Q3 re Funds Held Interest Income Expense
FundsHeldInterestIncomeExpense
684000 USD
CY2019Q3 re Funds Held Interest Income Expense
FundsHeldInterestIncomeExpense
2325000 USD
re Funds Held Interest Income Expense
FundsHeldInterestIncomeExpense
10921000 USD
re Funds Held Interest Income Expense
FundsHeldInterestIncomeExpense
9715000 USD
CY2020Q3 re Future Policy Benefit Reserve Income Expense
FuturePolicyBenefitReserveIncomeExpense
-291000 USD
CY2019Q3 re Future Policy Benefit Reserve Income Expense
FuturePolicyBenefitReserveIncomeExpense
-372000 USD
re Future Policy Benefit Reserve Income Expense
FuturePolicyBenefitReserveIncomeExpense
-805000 USD
re Future Policy Benefit Reserve Income Expense
FuturePolicyBenefitReserveIncomeExpense
-965000 USD
CY2020Q3 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
244913000 USD
CY2019Q3 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
191182000 USD
us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
454804000 USD
us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
531800000 USD
CY2020Q3 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
10680000 USD
CY2019Q3 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
10124000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
34688000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
30738000 USD
CY2020Q3 us-gaap Investment Income Net
InvestmentIncomeNet
234233000 USD
CY2019Q3 us-gaap Investment Income Net
InvestmentIncomeNet
181058000 USD
us-gaap Investment Income Net
InvestmentIncomeNet
420116000 USD
us-gaap Investment Income Net
InvestmentIncomeNet
501062000 USD
CY2020Q3 re Additional Contractual Commitments
AdditionalContractualCommitments
1464947000 USD
CY2020Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
110203000 USD
CY2019Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-12943000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
84263000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
109561000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
25837000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
150000 USD
us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
32884000 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Purchased With Credit Deterioration Increase
DebtSecuritiesAvailableForSaleAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
5562000 USD
us-gaap Debt Securities Available For Sale Allowance For Credit Loss Purchased With Credit Deterioration Increase
DebtSecuritiesAvailableForSaleAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
6644000 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not To Sell Before Recovery Credit Loss Previously Recorded Expense Reversal
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotToSellBeforeRecoveryCreditLossPreviouslyRecordedExpenseReversal
-310000 USD
us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not To Sell Before Recovery Credit Loss Previously Recorded Expense Reversal
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotToSellBeforeRecoveryCreditLossPreviouslyRecordedExpenseReversal
-4646000 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Securities Sold
DebtSecuritiesAvailableForSaleAllowanceForCreditLossSecuritiesSold
-11598000 USD
us-gaap Debt Securities Available For Sale Allowance For Credit Loss Securities Sold
DebtSecuritiesAvailableForSaleAllowanceForCreditLossSecuritiesSold
-15241000 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
19641000 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
19641000 USD
CY2019Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
13611313000 USD
CY2018Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
13119090000 USD
CY2019Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
1640712000 USD
CY2018Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
1619641000 USD
CY2019Q4 re Reserve For Losses And Loss Adjustment Expenses Net
ReserveForLossesAndLossAdjustmentExpensesNet
11970601000 USD
CY2018Q4 re Reserve For Losses And Loss Adjustment Expenses Net
ReserveForLossesAndLossAdjustmentExpensesNet
11499449000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
4572640000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
3559505000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
1426000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-44401000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
4574066000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
3515104000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
1015538000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
550724000 USD
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us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
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us-gaap Translation Adjustment Functional To Reporting Currency Net Of Tax Period Increase Decrease
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ReserveForLossesAndLossAdjustmentExpensesNet
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CY2020Q3 us-gaap Reinsurance Recoverables
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CY2019Q3 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
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CY2020Q3 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
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CY2019Q3 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
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us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
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us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
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CY2005Q4 us-gaap Number Of Price Risk Derivatives Held
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7 Item
CY2001Q4 us-gaap Number Of Price Risk Derivatives Held
NumberOfPriceRiskDerivativesHeld
7 Item
re Number Of Equity Indices
NumberOfEquityIndices
2 Item
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DerivativeLiabilities
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DerivativeLiabilities
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DerivativeGainLossOnDerivativeNet
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CY2019Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
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us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
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us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
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CY2020Q3 re Public Equity Portfolio Fair Value Disclosure
PublicEquityPortfolioFairValueDisclosure
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CY2019Q4 re Public Equity Portfolio Fair Value Disclosure
PublicEquityPortfolioFairValueDisclosure
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CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2020Q3 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
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CY2020Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
6632000 USD
CY2020Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0 USD
CY2019Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
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CY2019Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
5584000 USD
CY2020Q3 us-gaap Profit Loss
ProfitLoss
243057000 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
450549000 USD
us-gaap Profit Loss
ProfitLoss
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CY2020Q3 us-gaap Dividends Common Stock
DividendsCommonStock
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CY2019Q3 us-gaap Dividends Common Stock
DividendsCommonStock
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us-gaap Dividends Common Stock
DividendsCommonStock
187115000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
171131000 USD
CY2020Q3 us-gaap Undistributed Earnings
UndistributedEarnings
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CY2019Q3 us-gaap Undistributed Earnings
UndistributedEarnings
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us-gaap Undistributed Earnings
UndistributedEarnings
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us-gaap Undistributed Earnings
UndistributedEarnings
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CY2020Q3 re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.988 pure
CY2019Q3 re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.989 pure
re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.987 pure
re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.989 pure
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
178938000 USD
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
260096000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2020Q3 re Dividend Declared Common Shareholders
DividendDeclaredCommonShareholders
61199000 USD
CY2019Q3 re Dividend Declared Common Shareholders
DividendDeclaredCommonShareholders
56403000 USD
re Dividend Declared Common Shareholders
DividendDeclaredCommonShareholders
184836000 USD
re Dividend Declared Common Shareholders
DividendDeclaredCommonShareholders
169329000 USD
CY2020Q3 re Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
240138000 USD
CY2019Q3 re Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
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re Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
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re Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
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CY2020Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
39483000 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
40287000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
39711000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
40289000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
74000 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
125000 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
79000 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
131000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39557000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40411000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39790000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40421000 shares
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.56
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
11.20
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
19.44
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.56
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
11.18
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
19.38
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39483000 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40287000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39711000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40289000 shares
CY2020Q3 re Basic Weighted Average Common Shares Outstanding And Nonvested Common Shares Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonvestedCommonSharesExpectedToVest
39971000 shares
CY2019Q3 re Basic Weighted Average Common Shares Outstanding And Nonvested Common Shares Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonvestedCommonSharesExpectedToVest
40746000 shares
re Basic Weighted Average Common Shares Outstanding And Nonvested Common Shares Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonvestedCommonSharesExpectedToVest
40221000 shares
re Basic Weighted Average Common Shares Outstanding And Nonvested Common Shares Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonvestedCommonSharesExpectedToVest
40738000 shares
CY2020Q3 re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.988 pure
CY2019Q3 re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.989 pure
re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.987 pure
re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.989 pure
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2020Q3 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
122324000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
7863000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
114461000 USD
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
426931000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
43485000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
383446000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
102306000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
11133000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
91173000 USD
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
573412000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
64584000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
508828000 USD
re Line Of Credit Facilities Number Of Facilities
LineOfCreditFacilitiesNumberOfFacilities
2 Item
CY2020Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000000 USD
CY2020Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
52175000 GBP
re Line Of Credit Facilities Number Of Facilities
LineOfCreditFacilitiesNumberOfFacilities
2 Item
CY2020Q3 us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
105000 USD
CY2019Q3 us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
105000 USD
us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
560000 USD
us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
315000 USD
CY2020Q3 re Federal Home Loan Bank Advances General Debt Obligations Disclosures Maximum Percentage Of Admitted Assets Allowed For Borrowing Base
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresMaximumPercentageOfAdmittedAssetsAllowedForBorrowingBase
0.10 pure
CY2020Q3 re Federal Home Loan Bank Advances General Debt Obligations Disclosures Admitted Assets
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresAdmittedAssets
14667099000 USD
CY2020Q3 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Maximum Amount Available
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresMaximumAmountAvailable
1466709000 USD
CY2020Q3 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
90000000 USD
CY2020Q3 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
90000000 USD
CY2020Q3 us-gaap Federal Home Loan Bank Advances Interest Rate
FederalHomeLoanBankAdvancesInterestRate
0.0035 pure
re Federal Home Loan Bank Advances Maturity Date
FederalHomeLoanBankAdvancesMaturityDate
2020-11-30
CY2020Q3 re Federal Home Loan Bank Advances Required To Be Used To Acquire Additional Membership Stock Percentage
FederalHomeLoanBankAdvancesRequiredToBeUsedToAcquireAdditionalMembershipStockPercentage
0.045 pure
CY2020Q3 us-gaap Security Deposit
SecurityDeposit
1158783000 USD
CY2020Q3 us-gaap Ceded Premiums Written
CededPremiumsWritten
86712000 USD
CY2019Q3 us-gaap Ceded Premiums Written
CededPremiumsWritten
97391000 USD
us-gaap Ceded Premiums Written
CededPremiumsWritten
245422000 USD
us-gaap Ceded Premiums Written
CededPremiumsWritten
237841000 USD
CY2020Q3 re Ceded Earned Premiums
CededEarnedPremiums
71396000 USD
CY2019Q3 re Ceded Earned Premiums
CededEarnedPremiums
79560000 USD
re Ceded Earned Premiums
CededEarnedPremiums
233089000 USD
re Ceded Earned Premiums
CededEarnedPremiums
220200000 USD
CY2020Q3 re Ceded Losses And Loss Adjustment Expenses
CededLossesAndLossAdjustmentExpenses
87917000 USD
CY2019Q3 re Ceded Losses And Loss Adjustment Expenses
CededLossesAndLossAdjustmentExpenses
79499000 USD
re Ceded Losses And Loss Adjustment Expenses
CededLossesAndLossAdjustmentExpenses
173968000 USD
re Ceded Losses And Loss Adjustment Expenses
CededLossesAndLossAdjustmentExpenses
164914000 USD
CY2020Q3 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
8894000 USD
CY2019Q3 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
9867000 USD
us-gaap Assumed Premiums Written
AssumedPremiumsWritten
14448000 USD
us-gaap Assumed Premiums Written
AssumedPremiumsWritten
14900000 USD
CY2020Q3 re Assumed Earned Premiums
AssumedEarnedPremiums
8894000 USD
CY2019Q3 re Assumed Earned Premiums
AssumedEarnedPremiums
9867000 USD
re Assumed Earned Premiums
AssumedEarnedPremiums
14448000 USD
re Assumed Earned Premiums
AssumedEarnedPremiums
14900000 USD
us-gaap Lease Cost
LeaseCost
24572000 USD
us-gaap Lease Cost
LeaseCost
16602000 USD
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
149206000 USD
CY2020Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
4868000 USD
CY2019Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
4868000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
14604000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
14604000 USD
us-gaap Debt Instrument Redemption Period End Date
DebtInstrumentRedemptionPeriodEndDate
2047-05-01
CY2020Q3 us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
1587000 USD
CY2019Q3 us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
2881000 USD
us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
6126000 USD
us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
8892000 USD
CY2020Q3 us-gaap Lease Cost
LeaseCost
8424000 USD
CY2019Q3 us-gaap Lease Cost
LeaseCost
5384000 USD
us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
-35071000 USD
us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
365035000 USD
CY2020Q3 us-gaap Net Investment Income
NetInvestmentIncome
234233000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
161435000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
163329000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
169909000 USD
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
5047000 USD
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
5739000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
14883000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
14665000 USD
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0411 pure
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0391 pure
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5235000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
18433000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
20882000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
20110000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
19859000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
16868000 USD
CY2020Q3 re Lessee Operating Lease Liability Payments Due After Year Six
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearSix
119204000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
220591000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
57262000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
163329000 USD
CY2020Q3 us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
-114606000 USD
CY2019Q3 us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
-27539000 USD
CY2019Q3 us-gaap Net Investment Income
NetInvestmentIncome
181058000 USD
us-gaap Net Investment Income
NetInvestmentIncome
420116000 USD
us-gaap Net Investment Income
NetInvestmentIncome
501062000 USD
CY2020Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
110203000 USD
CY2019Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-12943000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
84263000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
109561000 USD
CY2020Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
2456000 USD
CY2019Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-189000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-1048000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
3395000 USD
CY2020Q3 re Corporate Expenses
CorporateExpenses
10618000 USD
CY2019Q3 re Corporate Expenses
CorporateExpenses
8435000 USD
re Corporate Expenses
CorporateExpenses
29184000 USD
re Corporate Expenses
CorporateExpenses
22622000 USD
CY2020Q3 us-gaap Interest Expense
InterestExpense
6641000 USD
CY2019Q3 us-gaap Interest Expense
InterestExpense
7907000 USD
us-gaap Interest Expense
InterestExpense
21477000 USD
us-gaap Interest Expense
InterestExpense
23972000 USD
CY2020Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
57481000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
48354000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-52550000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
272508000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
465953000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
879909000 USD

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