2021 Q2 Form 10-Q Financial Statement

#000109507321000025 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $3.077B $2.245B
YoY Change 37.08% 11.74%
Cost Of Revenue $1.586B $1.407B
YoY Change 12.73% 28.54%
Gross Profit $1.491B $837.5M
YoY Change 77.98% -8.38%
Gross Profit Margin 48.45% 37.31%
Selling, General & Admin $1.075B $475.0M
YoY Change 126.38% 10.85%
% of Gross Profit 72.14% 56.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $4.656B $1.840B
YoY Change 153.01% 13.04%
Operating Profit -$3.165B -$1.003B
YoY Change 215.69% 40.47%
Interest Expense -$31.25M $7.253M
YoY Change -530.8% -14.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $760.2M $237.1M
YoY Change 220.66% -36.33%
Income Tax $80.20M $46.19M
% Of Pretax Income 10.55% 19.48%
Net Earnings $680.0M $190.9M
YoY Change 256.24% -42.66%
Net Earnings / Revenue 22.1% 8.5%
Basic Earnings Per Share $16.97 $4.78
Diluted Earnings Per Share $16.95 $4.77
COMMON SHARES
Basic Shares Outstanding 39.53M shares 39.45M shares
Diluted Shares Outstanding 39.57M shares 39.52M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.106B $922.5M
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 $152.0M
YoY Change 117.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $25.95B $1.816B
YoY Change 1328.65% 8.85%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $35.37B $28.58B
YoY Change 23.74% 8.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $9.641M $166.0M
YoY Change -94.19% 107.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $169.3M $256.0M
YoY Change -33.87% 13.27%
LONG-TERM LIABILITIES
Long-Term Debt $1.911B $621.0M
YoY Change 207.69% -2.05%
Other Long-Term Liabilities $769.9M $533.0M
YoY Change 44.44% 102.66%
Total Long-Term Liabilities $2.681B $1.154B
YoY Change 132.29% 28.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $169.3M $256.0M
Total Long-Term Liabilities $2.681B $1.154B
Total Liabilities $24.95B $19.30B
YoY Change 29.3% 10.25%
SHAREHOLDERS EQUITY
Retained Earnings $11.47B $10.38B
YoY Change 10.4% 2.77%
Common Stock $698.0K $696.0K
YoY Change 0.29% 0.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.662B $3.622B
YoY Change 1.11% 5.84%
Treasury Stock Shares 29.80M shares 29.64M shares
Shareholders Equity $10.42B $9.286B
YoY Change
Total Liabilities & Shareholders Equity $35.37B $28.58B
YoY Change 23.74% 8.52%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $680.0M $190.9M
YoY Change 256.24% -42.66%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $723.6M $598.6M
YoY Change 20.88% 52.04%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$677.1M -$370.8M
YoY Change 82.6% 43.94%
Cash From Investing Activities -$677.1M -$370.8M
YoY Change 82.6% 43.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -80.76M -121.8M
YoY Change -33.69% 87.38%
NET CHANGE
Cash From Operating Activities 723.6M 598.6M
Cash From Investing Activities -677.1M -370.8M
Cash From Financing Activities -80.76M -121.8M
Net Change In Cash -34.29M 106.0M
YoY Change -132.35% 49.09%
FREE CASH FLOW
Cash From Operating Activities $723.6M $598.6M
Capital Expenditures
Free Cash Flow
YoY Change

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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-4086000 USD
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us-gaap Benefits Losses And Expenses
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us-gaap Benefits Losses And Expenses
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CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Tax Expense Benefit
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us-gaap Comprehensive Income Net Of Tax
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CY2020Q2 us-gaap Earnings Per Share Diluted
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CY2020Q2 us-gaap Profit Loss
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EarningsPerShareBasic
4.78
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.77
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
25.50
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
25.47
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CommonStockDividendsPerShareDeclared
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CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
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CY2020Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
207492000 USD
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IncreaseDecreaseInPremiumsReceivable
499647000 USD
us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
252609000 USD
us-gaap Increase Decrease In Funds Held Under Reinsurance Agreements
IncreaseDecreaseInFundsHeldUnderReinsuranceAgreements
79485000 USD
us-gaap Increase Decrease In Funds Held Under Reinsurance Agreements
IncreaseDecreaseInFundsHeldUnderReinsuranceAgreements
23498000 USD
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
-15836000 USD
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
147515000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-76452000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
25000000 USD
us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
71566000 USD
us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
29699000 USD
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
1144620000 USD
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
800816000 USD
us-gaap Increase Decrease In Future Policy Benefit Reserves
IncreaseDecreaseInFuturePolicyBenefitReserves
-1226000 USD
us-gaap Increase Decrease In Future Policy Benefit Reserves
IncreaseDecreaseInFuturePolicyBenefitReserves
-1933000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
500077000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
159744000 USD
us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
72850000 USD
us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
89499000 USD
re Increase Decrease In Losses In Course Of Payment
IncreaseDecreaseInLossesInCourseOfPayment
70653000 USD
re Increase Decrease In Losses In Course Of Payment
IncreaseDecreaseInLossesInCourseOfPayment
147427000 USD
re Change In Equity Adjustments In Limited Partnerships
ChangeInEquityAdjustmentsInLimitedPartnerships
377120000 USD
re Change In Equity Adjustments In Limited Partnerships
ChangeInEquityAdjustmentsInLimitedPartnerships
-84066000 USD
us-gaap Reimbursement From Limited Partnership Investment
ReimbursementFromLimitedPartnershipInvestment
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us-gaap Reimbursement From Limited Partnership Investment
ReimbursementFromLimitedPartnershipInvestment
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us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
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us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
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us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
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us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
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us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1897536000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1261650000 USD
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ProceedsFromSaleOfAvailableForSaleSecuritiesDebtMarketValue
599737000 USD
re Proceeds From Sale Of Available For Sale Securities Debt Market Value
ProceedsFromSaleOfAvailableForSaleSecuritiesDebtMarketValue
990273000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
474663000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
85761000 USD
CY2021Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
104109000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39535000 shares
CY2020Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
544496000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
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112398000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
164975000 USD
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PaymentsToAcquireAvailableForSaleSecuritiesDebtMarketValue
3949973000 USD
re Payments To Acquire Available For Sale Securities Debt Market Value
PaymentsToAcquireAvailableForSaleSecuritiesDebtMarketValue
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us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
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us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
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PaymentsToAcquireInterestInSubsidiariesAndAffiliates
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us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
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us-gaap Payments For Proceeds From Short Term Investments
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us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
439457000 USD
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NetChangeInUnsettledSecuritiesTransactions
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re Net Change In Unsettled Securities Transactions
NetChangeInUnsettledSecuritiesTransactions
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-628989000 USD
re Payments For Shares Issued For Share Based Compensation Net Of Expense
PaymentsForSharesIssuedForShareBasedCompensationNetOfExpense
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re Payments For Shares Issued For Share Based Compensation Net Of Expense
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
200019000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
124274000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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us-gaap Repayments Of Debt
RepaymentsOfDebt
10647000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
13713000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
14141000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-189664000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-362853000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1016000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1699000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
304694000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
114443000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
801651000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
808036000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1106345000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
922479000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
34780000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
10895000 USD
us-gaap Interest Paid Net
InterestPaidNet
31695000 USD
us-gaap Interest Paid Net
InterestPaidNet
14992000 USD
us-gaap Nature Of Operations
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<p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-weight: bold; font-size: 10.00pt">1. GENERAL</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt">Everest Re Group, Ltd. (“Group”), a Bermuda company, through its subsidiaries, principally provides reinsurance and insurance in the U.S., Bermuda and international markets. As used in this document, “Company” means Group and its subsidiaries.</span></p>
us-gaap Basis Of Accounting
BasisOfAccounting
<p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-weight: bold; font-size: 10.00pt">2. BASIS OF PRESENTATION</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt">The unaudited consolidated financial statements of the Company as of June 30, 2021 and December 31, 2020 and for the three and six months ended June 30, 2021 and 2020 include all adjustments, consisting of normal recurring accruals, which, in the opinion of management, are necessary for a fair statement of the results on an interim basis. Certain financial information, which is normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), has been omitted since it is not required for interim reporting purposes. The December 31, 2020 consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP. The results for the three and six months ended June 30, 2021 and 2020 are not necessarily indicative of the results for a full year. These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the years ended December 31, 2020, 2019 and 2018, included in the Company’s most recent Form 10-K filing.</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt">The Company consolidates the results of operations and financial position of all voting interest entities ("VOE") in which the Company has a controlling financial interest and all variable interest entities ("VIE") in which the Company is considered to be the primary beneficiary. The consolidation assessment, including the determination as to whether an entity qualifies as a VIE or VOE, depends on the facts and circumstances surrounding each entity. </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities (and disclosure of contingent assets and liabilities) at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Ultimate actual results could differ, possibly materially, from those estimates. This is particularly true given the fluid and continuing nature of the COVID-19 Pandemic. This is an ongoing event and so is the Company’s evaluation and analysis. While the Company’s analysis considers all aspects of its operations, it does not take into account legal, regulatory or legislative intervention that could retroactively mandate or expand coverage provisions. Given the uncertainties in the current public health and economic environment, there could be an adverse impact on results for the Property &amp; Casualty industry and the Company for the remainder of the year. The impact is dependent on the shape and length of the economic recovery.</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt">All intercompany accounts and transactions have been eliminated. </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt">Certain reclassifications and format changes have been made to prior years’ amounts to conform to the 2021 presentation.</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt; text-decoration: underline">Application of Recently Issued Accounting Standard Changes. </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-style: italic; font-size: 10.00pt">Accounting for Income Taxes.</span><span style="font-family: Calibri; font-size: 10.00pt"> In December 2019, The Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, which provides simplification of existing guidance for income taxes, including the removal of certain exceptions related to recognition of deferred tax liabilities on foreign subsidiaries. The guidance is effective for annual reporting periods beginning after December 15, 2020 and interim periods within that annual reporting period. The Company adopted the guidance as of January 1, 2021. The adoption of ASU 2019-12 did not have a material impact on the Company’s financial statements.</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-style: italic; font-size: 10.00pt">Accounting for Long Duration Contracts.</span><span style="font-family: Calibri; font-size: 10.00pt"> In August 2018, FASB issued ASU 2018-12, which discusses changes to the recognition, measurement and presentation of long duration contracts. The main provisions of this guidance address the following: 1) In determining liability for future policy benefits, companies must review cash flow assumptions at least annually and the discount rate assumption at each reporting period date 2) Amortization of deferred acquisition costs has been simplified to be in constant level proportion to either premiums, gross profits or gross margins 3) Disaggregated roll forwards of beginning and ending liabilities for future policy benefits are required. The guidance was originally effective for annual reporting periods beginning after December 15, 2020 and interim periods within that annual reporting period. However, FASB issued ASU 2019-09 in November 2019 and then ASU 2020-11 in November 2021, which ultimately defers the effective date of ASU 2018-12 until annual reporting periods beginning after December 15, 2022. The Company is currently evaluating the impact of the adoption of ASU 2018-12 on its financial statements.</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt">Any issued guidance and pronouncements, other than those directly referenced above, are deemed by the Company to be either not applicable or immaterial to its financial statements.</span></p>
CY2021Q2 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
20718717000 USD
CY2021Q2 us-gaap Profit Loss
ProfitLoss
679982000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
710677000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
1394838000 USD
us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
2105515000 USD
us-gaap Translation Adjustment Functional To Reporting Currency Net Of Tax Period Increase Decrease
TranslationAdjustmentFunctionalToReportingCurrencyNetOfTaxPeriodIncreaseDecrease
35651000 USD
CY2020Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
184648000 USD
CY2020Q2 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
49769000 USD
us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
695427000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
20718717000 USD
CY2021Q2 re Available For Sale Securities Debt Securities Market Value
AvailableForSaleSecuritiesDebtSecuritiesMarketValue
21275199000 USD
CY2020Q4 re Available For Sale Securities Debt Securities Market Value
AvailableForSaleSecuritiesDebtSecuritiesMarketValue
20040173000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
97127000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
614077000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-235581000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
337053000 USD
CY2021Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
11366000 USD
CY2020Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
69581000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-29061000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
40557000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-206520000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
296496000 USD
CY2021Q2 re Gross Investment Income Before Adjustment
GrossInvestmentIncomeBeforeAdjustment
418349000 USD
CY2020Q2 re Gross Investment Income Before Adjustment
GrossInvestmentIncomeBeforeAdjustment
48051000 USD
re Gross Investment Income Before Adjustment
GrossInvestmentIncomeBeforeAdjustment
684635000 USD
re Gross Investment Income Before Adjustment
GrossInvestmentIncomeBeforeAdjustment
200168000 USD
CY2021Q2 re Funds Held Interest Income Expense
FundsHeldInterestIncomeExpense
3287000 USD
CY2020Q2 re Funds Held Interest Income Expense
FundsHeldInterestIncomeExpense
2021000 USD
re Funds Held Interest Income Expense
FundsHeldInterestIncomeExpense
11253000 USD
re Funds Held Interest Income Expense
FundsHeldInterestIncomeExpense
10237000 USD
CY2021Q2 re Future Policy Benefit Reserve Income Expense
FuturePolicyBenefitReserveIncomeExpense
-170000 USD
CY2020Q2 re Future Policy Benefit Reserve Income Expense
FuturePolicyBenefitReserveIncomeExpense
-303000 USD
re Future Policy Benefit Reserve Income Expense
FuturePolicyBenefitReserveIncomeExpense
-461000 USD
re Future Policy Benefit Reserve Income Expense
FuturePolicyBenefitReserveIncomeExpense
-514000 USD
CY2021Q2 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
421466000 USD
us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
209891000 USD
CY2021Q2 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
14371000 USD
CY2020Q2 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
11686000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
27919000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
24008000 USD
CY2021Q2 us-gaap Investment Income Net
InvestmentIncomeNet
407095000 USD
CY2020Q2 us-gaap Investment Income Net
InvestmentIncomeNet
38083000 USD
us-gaap Investment Income Net
InvestmentIncomeNet
667508000 USD
us-gaap Investment Income Net
InvestmentIncomeNet
185883000 USD
CY2021Q2 re Additional Contractual Commitments
AdditionalContractualCommitments
2866741000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
143011000 USD
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
16.95
CY2021Q2 us-gaap Earnings Per Share Basic
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DividendsCommonStock
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DividendsCommonStock
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UndistributedEarnings
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UndistributedEarnings
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us-gaap Undistributed Earnings
UndistributedEarnings
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UndistributedEarnings
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PercentageAllocatedToCommonShareholders
0.986 pure
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PercentageAllocatedToCommonShareholders
0.987 pure
re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
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re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
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CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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NetIncomeLossAvailableToCommonStockholdersBasic
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NetIncomeLossAvailableToCommonStockholdersBasic
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CY2021Q2 re Dividend Declared Common Shareholders
DividendDeclaredCommonShareholders
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CY2020Q2 re Dividend Declared Common Shareholders
DividendDeclaredCommonShareholders
61148000 USD
re Dividend Declared Common Shareholders
DividendDeclaredCommonShareholders
122659000 USD
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DividendDeclaredCommonShareholders
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NumeratorForBasicAndDilutedEarningsPerCommonShare
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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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WeightedAverageNumberOfSharesIssuedBasic
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CY2020Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
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us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
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us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
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CY2021Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
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CY2020Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
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us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
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IncrementalCommonSharesAttributableToCallOptionsAndWarrants
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WeightedAverageNumberOfDilutedSharesOutstanding
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WeightedAverageNumberOfDilutedSharesOutstanding
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WeightedAverageNumberOfDilutedSharesOutstanding
39582000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
25.50
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
25.47
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.13
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WeightedAverageNumberOfSharesOutstandingBasic
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CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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BasicWeightedAverageCommonSharesOutstandingAndNonvestedCommonSharesExpectedToVest
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CY2020Q2 re Basic Weighted Average Common Shares Outstanding And Nonvested Common Shares Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonvestedCommonSharesExpectedToVest
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re Basic Weighted Average Common Shares Outstanding And Nonvested Common Shares Expected To Vest
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OtherOperatingIncomeExpenseNet
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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NetInvestmentIncome
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OtherOperatingIncomeExpenseNet
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
760181000 USD
re Basic Weighted Average Common Shares Outstanding And Nonvested Common Shares Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonvestedCommonSharesExpectedToVest
40348000 shares
CY2021Q2 re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.986 pure
CY2020Q2 re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.987 pure
re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.987 pure
re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.987 pure
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2021Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-23654000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
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us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
35622000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2021Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1300000000 USD
CY2021Q2 us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
345000 USD
CY2020Q2 us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
332000 USD
us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
721000 USD
us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
455000 USD
CY2021Q2 re Federal Home Loan Bank Advances General Debt Obligations Disclosures Maximum Percentage Of Admitted Assets Allowed For Borrowing Base
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresMaximumPercentageOfAdmittedAssetsAllowedForBorrowingBase
0.10 pure
CY2021Q2 us-gaap Security Deposit
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CY2021Q2 us-gaap Ceded Premiums Written
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CY2020Q2 us-gaap Ceded Premiums Written
CededPremiumsWritten
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us-gaap Ceded Premiums Written
CededPremiumsWritten
155293000 USD
us-gaap Ceded Premiums Written
CededPremiumsWritten
158710000 USD
CY2021Q2 re Ceded Earned Premiums
CededEarnedPremiums
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us-gaap Net Investment Income
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CY2021Q2 us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
273639000 USD
CY2020Q2 us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
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us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
318843000 USD
us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
79535000 USD
CY2021Q2 us-gaap Net Investment Income
NetInvestmentIncome
407095000 USD
CY2020Q2 re Ceded Earned Premiums
CededEarnedPremiums
71143000 USD
re Ceded Earned Premiums
CededEarnedPremiums
149529000 USD
re Ceded Earned Premiums
CededEarnedPremiums
161693000 USD
CY2021Q2 re Ceded Losses And Loss Adjustment Expenses
CededLossesAndLossAdjustmentExpenses
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CededLossesAndLossAdjustmentExpenses
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re Ceded Losses And Loss Adjustment Expenses
CededLossesAndLossAdjustmentExpenses
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re Ceded Losses And Loss Adjustment Expenses
CededLossesAndLossAdjustmentExpenses
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CY2021Q2 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
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CY2020Q2 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
2795000 USD
us-gaap Assumed Premiums Written
AssumedPremiumsWritten
5217000 USD
us-gaap Assumed Premiums Written
AssumedPremiumsWritten
5554000 USD
CY2021Q2 re Assumed Earned Premiums
AssumedEarnedPremiums
2741000 USD
CY2020Q2 re Assumed Earned Premiums
AssumedEarnedPremiums
2795000 USD
re Assumed Earned Premiums
AssumedEarnedPremiums
5217000 USD
re Assumed Earned Premiums
AssumedEarnedPremiums
5554000 USD
CY2021Q2 us-gaap Reinsurance Recoverables Gross
ReinsuranceRecoverablesGross
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CY2020Q4 us-gaap Reinsurance Recoverables Gross
ReinsuranceRecoverablesGross
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CY2021Q2 re Reinsurance Deferred Gain Liability
ReinsuranceDeferredGainLiability
36064000 USD
CY2020Q4 re Reinsurance Deferred Gain Liability
ReinsuranceDeferredGainLiability
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us-gaap Debt Instrument Redemption Period End Date
DebtInstrumentRedemptionPeriodEndDate
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CY2021Q2 us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
1460000 USD
CY2020Q2 us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
2000000 USD
us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
2922000 USD
us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
4539000 USD
us-gaap Net Investment Income
NetInvestmentIncome
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us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-12631000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1133276000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
143011000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-25940000 USD
CY2021Q2 re Corporate Expenses
CorporateExpenses
16168000 USD
re Corporate Expenses
CorporateExpenses
28546000 USD
re Corporate Expenses
CorporateExpenses
18566000 USD
CY2021Q2 re Interest Fee And Bond Issue Cost Amortization Expense
InterestFeeAndBondIssueCostAmortizationExpense
15607000 USD
CY2020Q2 re Interest Fee And Bond Issue Cost Amortization Expense
InterestFeeAndBondIssueCostAmortizationExpense
7253000 USD
re Interest Fee And Bond Issue Cost Amortization Expense
InterestFeeAndBondIssueCostAmortizationExpense
31246000 USD
re Interest Fee And Bond Issue Cost Amortization Expense
InterestFeeAndBondIssueCostAmortizationExpense
14836000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
63707000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
193445000 USD
re Percentage Threshold Of Company Revenue Not Exceeded By Any Other Country
PercentageThresholdOfCompanyRevenueNotExceededByAnyOtherCountry
0.05 pure

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