Arch Capital Group Ltd
(NASDAQ:ACGL)

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellat...

Website: http://www.archcapgroup.com

Founded: 1995

Full Time Employees: 4,300

Sector: Financial Services

Industry: Insurance-Diversified

Insurance Financial Services

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Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-09-30	2019-06-30	2019-03-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-03-31	2006-12-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-09-30	2004-06-30	2003-06-30

revenues
net premiums earned	3,986,000,000	4,255,000,000	4,285,000,000	4,337,000,000	4,188,000,000	4,143,000,000	3,970,000,000	3,565,000,000	3,422,000,000	3,344,000,000	3,248,000,000	2,965,000,000	2,883,000,000	2,760,919,000	2,470,750,000	2,325,775,000	2,120,633,000	2,083,630,000	1,929,337,000	2,120,909,000	1,948,422,000	1,811,045,000	1,771,092,000	1,665,354,000	1,744,444,000	1,438,023,000	1,463,727,000	1,368,866,000	1,290,878,000	1,336,763,000	1,234,899,000	1,224,755,000	1,261,886,000	1,240,874,000	1,117,017,000	968,855,000	958,403,000	1,005,985,000	951,579,000	943,520,000	936,683,000	943,438,000	910,264,000	903,651,000	907,152,000	859,780,000	839,366,000	795,000,000	758,816,000	752,770,000	748,691,000	726,656,000	680,312,000	682,049,000	642,879,000	633,695,000	627,409,000	623,011,000	669,917,000	734,385,000	699,258,000	700,564,000	733,031,000	705,675,000	708,234,000	745,493,000		792,981,000	747,775,000	739,892,000	697,068,000	735,408,000	723,399,000	508,856,000
net investment income	408,000,000	434,000,000	408,000,000	405,000,000	378,000,000	405,000,000	399,000,000	364,000,000	327,000,000	313,000,000	269,000,000	242,000,000	199,000,000	181,079,000	128,640,000	106,392,000	80,436,000	90,454,000	88,195,000	111,613,000	98,856,000	114,458,000	128,512,000	131,485,000	145,153,000	161,488,000	155,038,000	156,949,000	144,024,000	135,668,000	126,724,000	125,415,000	116,459,000	111,124,000	117,874,000	91,051,000	93,618,000	88,338,000	93,735,000	95,900,000	86,233,000	86,963,000	78,994,000	80,105,000	72,990,000	66,994,000	67,095,000	66,083,000	68,369,000	65,672,000	73,221,000	73,608,000	74,297,000	82,753,000	86,671,000	88,307,000	90,768,000	90,537,000	92,972,000	100,213,000	100,485,000	95,882,000	117,022,000	117,120,000	122,193,000	112,689,000		70,056,000	59,270,000	53,660,000	49,916,000	40,752,000	32,811,000	19,772,000
net realized gains	-87,000,000	22,000,000	210,000,000	229,000,000	3,000,000	-161,000,000	169,000,000	122,000,000	67,000,000	189,000,000	-248,000,000	-123,000,000	17,000,000	79,932,000	-183,673,000	-266,579,000	-292,414,000	59,517,000	-25,040,000	202,907,000	142,461,000	353,333,000	280,499,000	556,588,000	-366,960,000	62,518,000	120,806,000	141,565,000	-51,705,000	-76,611,000	-110,998,000	26,978,000	66,275,000	21,735,000	34,153,000	-93,061,000	125,105,000	68,218,000	37,324,000	-143,767,000	-89,698,000	-35,725,000	83,348,000	18,515,000	54,144,000	19,697,000	9,048,000	-6,022,000	12,652,000	58,340,000	60,391,000	34,867,000	44,121,000	30,199,000	45,210,000	20,695,000	68,828,000	62,114,000	47,782,000	70,638,000					35,975,000					2,105,000	461,000	13,503,000
other underwriting income	59,000,000	52,000,000	50,000,000	62,000,000	53,000,000	6,000,000	5,000,000	3,000,000	12,000,000	10,000,000	5,000,000	6,000,000	10,000,000	1,283,000	3,077,000	2,970,000	5,897,000	3,160,000	7,274,000	5,529,000	6,110,000	7,852,000	5,413,000	6,667,000	6,852,000	3,326,000	5,953,000	8,825,000	5,823,000	3,874,000	5,349,000	14,734,000	6,064,000	4,822,000	4,633,000	18,922,000	7,980,000	25,224,000	5,047,000	8,621,000	7,623,000	7,717,000	11,536,000	1,702,000	2,033,000	1,582,000
equity in net income of investments accounted for using the equity method	160,000,000	155,000,000	134,000,000	162,000,000	53,000,000
other income	-5,000,000	16,000,000	22,000,000	18,000,000	-2,000,000	12,000,000	8,000,000	8,000,000	14,000,000	17,000,000	-4,000,000	3,000,000	11,000,000	8,321,000	-13,684,000	-11,777,000	-9,025,000	9,093,000	-3,960,000	6,852,000	-1,741,000	10,468,000	919,000	-3,140,000	8,548,000	1,338,000	1,129,000	1,083,000	-726,000	3,113,000	74,000	547,000	-342,000	-1,994,000	-782,000	-368,000	-400,000	-7,000	-25,000	-451,000	-265,000	2,205,000	-1,888,000	-7,815,000	4,850,000	-2,104,000	-3,288,000	624,000	834,000	1,244,000		695,000		2,432,000		4,567,000	1,840,000	4,528,000	5,978,000	5,687,000	4,950,000	3,951,000	3,067,000	4,968,000	4,036,000	604,000						95,000		587,000
total revenues	4,521,000,000	4,934,000,000	5,109,000,000	5,213,000,000	4,673,000,000	4,548,000,000	4,722,000,000	4,229,000,000	3,941,000,000	3,975,000,000	3,329,000,000	3,162,000,000	3,168,000,000	3,071,885,000	2,386,249,000	2,214,842,000	1,941,832,000	2,312,986,000	2,101,204,000	2,569,996,000	2,265,794,000	2,386,442,000	2,313,170,000	2,291,835,000	1,533,828,000	1,682,660,000	1,779,140,000	1,722,846,000	1,403,784,000	1,410,809,000	1,283,955,000	1,421,108,000	1,479,554,000	1,407,537,000	1,319,176,000	988,227,000	1,197,501,000	1,191,152,000	1,086,676,000	902,004,000	932,590,000	1,019,652,000	1,082,344,000	992,531,000	1,035,660,000	946,231,000	923,078,000	861,148,000	851,790,000	890,141,000	904,799,000	842,468,000	815,008,000	764,993,000	775,568,000	775,072,000	797,352,000	776,315,000	844,887,000	976,225,000	848,744,000	750,443,000	746,799,000	835,915,000	849,193,000	859,774,000		818,297,000	798,993,000	796,682,000	753,557,000	795,611,000	753,808,000	538,038,000
yoy	-3.25%	8.49%	8.20%	23.27%	18.57%	14.42%	41.84%	33.74%	24.40%	29.40%	39.51%	42.76%	63.14%	32.81%	13.57%	-13.82%	-14.30%	-3.08%	-9.16%	12.14%	47.72%	41.83%	30.02%	33.03%	9.26%	19.27%	38.57%	21.23%	-5.12%	0.23%	-2.67%	43.80%	23.55%	18.17%	21.40%	9.56%	28.41%	16.82%	0.40%	-9.12%	-9.95%	7.76%	17.25%	15.26%	21.59%	6.30%	2.02%	2.22%	4.51%	16.36%	16.66%	8.70%	2.21%	-1.46%	-8.20%	-20.61%	-6.06%	3.45%	13.13%	16.79%	-0.05%	-12.72%		2.15%	6.28%	7.92%		2.85%	5.99%	48.07%
qoq	-8.37%	-3.43%	-2.00%	11.56%	2.75%	-3.68%	11.66%	7.31%	-0.86%	19.41%	5.28%	-0.19%	3.13%	28.73%	7.74%	14.06%	-16.05%	10.08%	-18.24%	13.43%	-5.06%	3.17%	0.93%	49.42%	-8.85%	-5.42%	3.27%	22.73%	-0.50%	9.88%	-9.65%	-3.95%	5.12%	6.70%	33.49%	-17.48%	0.53%	9.61%	20.47%	-3.28%	-8.54%	-5.79%	9.05%	-4.16%	9.45%	2.51%	7.19%	1.10%	-4.31%	-1.62%	7.40%	3.37%	6.54%	-1.36%	0.06%	-2.79%	2.71%	-8.12%	-13.45%	15.02%	13.10%	0.49%	-10.66%	-1.56%	-1.23%			2.42%	0.29%	5.72%	-5.29%	5.55%	40.10%
expenses
losses and loss adjustment expenses	2,089,000,000	2,280,000,000	2,200,000,000	2,303,000,000	2,587,000,000	2,384,000,000	2,403,000,000	1,827,000,000	1,728,000,000	1,637,000,000	1,647,000,000	1,491,000,000	1,471,000,000	1,241,330,000	1,682,696,000	1,102,656,000	1,000,835,000	995,853,000	1,226,019,000	1,159,831,000	1,203,100,000	1,127,385,000	1,216,273,000	1,230,522,000	1,115,419,000	802,455,000	767,543,000	718,532,000	699,420,000	726,153,000	636,860,000	678,875,000	1,046,141,000	689,860,000	552,570,000	553,875,000	524,183,000	584,592,000	522,949,000	506,020,000	531,741,000	519,426,000	493,716,000	501,673,000	485,518,000	436,240,000	434,323,000	427,045,000	418,653,000	399,403,000	443,871,000	399,693,000	395,207,000	423,984,000	431,622,000	493,880,000	359,193,000	363,145,000	428,051,000	444,914,000	398,858,000	400,542,000	548,886,000	404,625,000	404,417,000	420,061,000		460,271,000	672,224,000	443,918,000	425,536,000	561,602,000	436,895,000	331,333,000
acquisition expenses	730,000,000	779,000,000	786,000,000	824,000,000	764,000,000	730,000,000	681,000,000	633,000,000	607,000,000	643,000,000	575,000,000	561,000,000	533,000,000	500,515,000	447,587,000	413,319,000	378,159,000	357,539,000	306,015,000	335,143,000	304,481,000	254,828,000	247,942,000	254,789,000	247,283,000	211,120,000	210,089,000	197,848,000	201,602,000	202,838,000	191,376,000	208,879,000	193,854,000	190,436,000	182,289,000	168,426,000	163,861,000	175,281,000	170,465,000	171,409,000	171,566,000	175,425,000	163,076,000	163,547,000	158,158,000	160,342,000	157,521,000	147,313,000	131,677,000	127,592,000	128,065,000	128,289,000	118,962,000	120,205,000	110,639,000	108,754,000	111,279,000	107,475,000	117,624,000	122,739,000	123,814,000	126,458,000	133,413,000	119,226,000	114,639,000	120,128,000		162,446,000	142,803,000	148,538,000	126,133,000	137,480,000	136,889,000	95,620,000
other operating expenses	498,000,000	421,000,000	478,000,000	454,000,000	473,000,000	410,000,000	353,000,000	346,000,000	363,000,000	359,000,000	310,000,000	313,000,000	319,000,000	286,093,000	274,747,000	277,392,000	289,943,000	261,787,000	230,832,000	244,943,000	261,033,000	215,697,000	215,686,000	209,249,000	234,544,000	196,512,000	198,914,000	201,163,000	161,098,000	176,181,000	175,015,000	169,624,000	170,127,000	169,981,000	174,719,000	165,609,000	155,557,000	159,590,000	161,652,000	173,812,000	156,959,000	168,608,000	157,882,000	149,480,000	156,350,000	145,799,000	135,069,000	118,070,000	127,408,000	120,183,000	113,429,000	117,701,000	106,472,000	105,998,000	110,563,000	102,420,000	103,121,000	101,533,000	106,806,000	99,743,000	99,294,000	87,116,000	95,652,000	102,578,000	97,187,000	90,813,000		77,454,000	71,960,000	74,232,000	73,401,000	70,331,000	69,155,000	40,995,000
corporate expenses	49,000,000	-24,000,000	49,000,000	47,000,000	60,000,000	57,000,000	49,000,000	41,000,000	53,000,000	31,000,000	20,000,000	21,000,000	30,000,000	17,820,000	17,710,000	27,620,000	32,332,000	18,150,000	19,672,000	15,951,000	25,384,000	25,335,000	17,937,000	17,920,000	20,796,000	17,061,000	18,251,000	17,962,000	14,335,000	22,512,000	15,312,000	13,986,000	17,098,000	24,876,000	27,792,000	36,678,000	18,485,000	17,200,000
amortization of intangible assets	30,000,000	47,000,000	49,000,000	48,000,000	49,000,000	99,000,000	88,000,000	27,000,000	21,000,000	24,000,000	24,000,000	24,000,000	23,000,000	25,722,000	26,104,000	27,207,000	27,167,000	33,132,000	20,135,000	15,286,000	14,402,000	19,196,000	16,715,000	16,489,000	16,631,000	20,003,000	19,794,000	20,417,000	26,315,000	26,472,000	26,736,000	31,836,000	31,824,000	30,824,000	31,294,000
interest expense	37,000,000	38,000,000	37,000,000	38,000,000	35,000,000	37,000,000	35,000,000	35,000,000	34,000,000	34,000,000	34,000,000	33,000,000	32,000,000	31,700,000	33,063,000	32,795,000	32,708,000	32,248,000	33,176,000	35,700,000	38,346,000	38,419,000	41,343,000	31,139,000	32,555,000	31,328,000	29,280,000	29,065,000	29,730,000	30,344,000	30,636,000	30,496,000	29,510,000	28,749,000	28,676,000	18,539,000	15,943,000	15,663,000	16,107,000	15,827,000	13,300,000	4,011,000	12,736,000	4,152,000	14,334,000	14,404,000	9,373,000	5,937,000	5,852,000	5,898,000	7,378,000	7,439,000	7,521,000	8,125,000	7,758,000	7,721,000	7,371,000	7,916,000	7,260,000	6,001,000	5,712,000	5,712,000	6,241,000	5,788,000	5,524,000	5,523,000		5,607,000	5,632,000	5,629,000	5,636,000	6,334,000	4,642,000
net foreign exchange losses	-21,000,000	6,000,000	7,000,000	88,000,000	27,000,000	-106,000,000	63,000,000	-1,000,000																							19,721,000	28,807,000	28,028,000	39,543,000	19,404,000				23,566,000			19,583,000			2,294,000	6,563,000	9,848,000	40,562,000		-24,264,000	16,959,000		20,688,000		18,375,000	36,912,000									23,587,000	9,742,000						1,787,000
total expenses	3,412,000,000	3,547,000,000	3,606,000,000	3,802,000,000	3,995,000,000	3,611,000,000	3,672,000,000	2,908,000,000	2,775,000,000	2,787,000,000	2,588,000,000	2,448,000,000	2,426,000,000	2,184,404,000	2,391,398,000	1,793,214,000	1,757,299,000	1,695,546,000	1,799,771,000	1,824,629,000	1,826,683,000	1,753,069,000	1,800,781,000	1,799,319,000	1,594,557,000	1,245,355,000	1,248,823,000	1,181,462,000	1,121,662,000	1,130,794,000	1,095,656,000	1,162,503,000	1,516,582,000	1,174,269,000	1,016,744,000	904,951,000	880,650,000	927,664,000	894,739,000	862,548,000	858,886,000	887,053,000	760,909,000	762,821,000	816,654,000	763,348,000	746,134,000	738,927,000	669,779,000	628,812,000	709,702,000	621,433,000	648,850,000	598,272,000	678,957,000	749,687,000	646,121,000	531,444,000	621,140,000	693,152,000	681,336,000	594,623,000	715,797,000	631,919,000	645,354,000	646,267,000		705,053,000	885,926,000	662,872,000	628,243,000	779,864,000	644,834,000	469,685,000
income before income taxes and income from operating affiliates	1,109,000,000	1,387,000,000	1,503,000,000	1,411,000,000	678,000,000	937,000,000	1,050,000,000	1,321,000,000	1,166,000,000	1,188,000,000	741,000,000	714,000,000	742,000,000	887,481,000	-5,149,000	421,628,000	184,533,000	617,440,000	301,433,000	745,367,000	439,111,000
income tax benefit	-98,000,000	-137,500,000	-215,000,000	-214,000,000	-121,000,000	-74,000,000	-98,000,000	-97,000,000	-101,000,000	-670,000,000	-72,000,000	-67,000,000	-64,000,000	-4,760,500	14,900,000																																				5,441,000	767,000	1,902,000							2,205,000
income from operating affiliates	36,000,000	61,000,000	62,000,000	40,000,000	17,000,000	64,000,000	36,000,000	45,000,000	55,000,000	69,000,000	54,000,000	22,000,000	39,000,000	36,226,000	8,507,000	4,640,000	24,518,000	40,641,000	124,119,000	24,476,000	75,457,000
net income available to arch	1,047,000,000	1,238,000,000	1,350,000,000	1,237,000,000	574,000,000	935,000,000	988,000,000	1,269,000,000	1,120,000,000	2,334,000,000	723,000,000	671,000,000	715,000,000	859,688,000	17,101,000	404,344,000	195,800,000	623,265,000	419,942,000	675,486,000	438,156,000	543,544,000	419,039,000	298,821,000	144,117,000	392,453,000	468,954,000	448,528,000	227,408,000	243,646,000	150,423,000	214,640,000	-33,656,000	185,167,000	253,127,000	74,013,000	252,872,000	211,055,000	154,798,000	58,579,000	80,033,000	115,790,000	283,336,000	228,675,000	208,016,000	182,500,000
preferred dividends	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,184,000	-10,184,000	-10,184,000	-10,184,000	-10,184,000	-16,090,000	-11,666,000	-10,403,000	-10,403,000	-10,403,000	-10,403,000	-10,403,000	-10,403,000	-10,403,000	-10,403,000	-10,402,000	-10,403,000	-10,437,000	-11,105,000	-12,369,000	-11,349,000	-11,218,000	-11,617,000	-5,484,000	-5,485,000	-5,484,000	-5,485,000	-5,484,000	-5,485,000	-5,484,000	-5,484,000	-5,485,000	5,484,000	5,485,000	5,484,000	5,485,000	5,484,000	5,484,000	7,649,000	6,461,000	6,461,000	6,461,000	6,461,000	6,461,000	6,461,000	6,461,000	6,461,000	6,461,000	6,461,000	6,461,000	6,461,000	6,461,000	6,461,000
net income available to arch common shareholders	1,037,000,000	1,228,000,000	1,340,000,000	1,227,000,000	564,000,000	925,000,000	978,000,000	1,259,000,000	1,110,000,000	2,324,000,000	713,000,000	661,000,000	705,000,000	849,504,000	6,917,000	394,160,000	185,616,000	613,081,000	388,751,000	663,820,000	427,753,000	533,141,000	408,636,000	288,418,000	133,714,000	382,050,000	458,551,000	438,125,000	217,006,000	233,243,000	137,276,000	203,535,000	-52,760,000	173,818,000	241,909,000	62,396,000	247,388,000	205,570,000	149,314,000	53,094,000	74,549,000	110,305,000	277,852,000	223,191,000
net income per common share and common share equivalent
basic	2,940,000	3,400,000	3,630,000	3,300,000	1,510,000	2,480,000	2,620,000	3,380,000	2,990,000	6,300,000	1,930,000	1,790,000	1,920,000	2,310	20	1,070	500	1,600	1,000	1,670	1,070	1,320	1,010	720	330	950	1,140	1,090	540	580	1,010	1,510	-390	1,290	1,800	510	2,050	1,700	1,240	450	620	910	2,240	1,690	1,530	1,340	1,190	830	1,310	1,920	1,360	1,580	1,180	1,240	700	430	2,890	4,650	3,970	4,560	2,520	2,320	440	3,050	2,900	2,690		1.125	-2.48	3.65	3.37		3.26	2.36
diluted	2,880,000	3,340,000	3,560,000	3,230,000	1,480,000	2,410,000	2,560,000	3,300,000	2,920,000	6,120,000	1,880,000	1,750,000	1,870,000	2,250	20	1,040	480	1,570	980	1,630	1,050	1,300	1,000	710	320	920	1,120	1,070	530	560	990	1,460	-390	1,250	1,740	490	1,980	1,650	1,200	430	600	880	2,160	1,640	1,480	1,300	1,150	800	1,260	1,850	1,330	1,540	1,140	1,190	670	410	2,770	4,450	3,790	4,390	2,430	2,240	420	2,920	2,780	2,590		0.523	-2.48	1.69	1.57		1.42	0.91
weighted-average common shares and common share equivalents outstanding
basic	353,200,000	368,400,000	369,000,000	372,200,000	372,900,000	372,500,000	373,200,000	372,700,000	370,900,000	368,700,000	369,200,000	368,700,000	367,300,000	368,612,197,000	365,190,527,000	369,241,193,000	374,243,812,000	391,748,715,000	389,274,220,000	397,743,402,000	400,807,895,000	403,062,179,000	402,850,485,000	402,503,687,000	403,892,161,000	402,564,121,000	401,482,784,000	400,184,404,000	402,939,092,000	404,800,421,000	135,846,576,000	134,712,788,000	134,885,451,000	134,486,664,000	134,034,927,000	120,792,114,000	120,938,916,000	120,599,060,000	120,428,179,000	121,786,127,000	120,567,410,000	121,719,214,000	124,209,276,000	131,945,962,000	132,650,634,000	131,857,910,000	131,355,392,000	131,495,296,000	131,377,274,000	130,907,902,000	135,067,360,000	134,529,129,000	133,954,623,000	131,560,851,000	131,232,269,000	44,499,747,000	48,997,791,000	50,987,540,000	53,039,026,000	60,156,219,000	60,417,391,000	60,313,550,000	60,109,932,000	62,995,550,000	65,295,516,000	73,931,996,000			34,750,770	34,563,565			32,023,865
diluted	359,700,000	375,900,000	376,100,000	379,900,000	381,900,000	381,800,000	382,300,000	381,600,000	380,500,000	378,800,000	379,400,000	378,400,000	377,600,000	377,609,767,000	373,727,277,000	377,952,988,000	384,194,363,000	400,345,936,000	397,903,347,000	406,485,994,000	409,223,253,000	410,259,455,000	409,194,657,000	408,119,681,000	414,033,570,000	413,180,201,000	410,899,483,000	408,971,029,000	411,721,214,000	413,111,205,000	139,297,934,000	139,261,675,000	134,885,451,000	139,244,646,000	139,047,672,000	124,717,493,000	124,931,653,000	124,365,596,000	124,496,496,000	126,038,743,000	125,011,773,000	125,885,420,000	128,451,054,000	135,876,605,000	136,889,944,000	136,562,717,000	135,777,183,000	136,034,413,000	135,849,050,000	135,409,288,000	138,696,934,000	138,211,736,000	137,814,906,000	137,140,929,000	137,975,599,000	46,820,172,000	51,182,009,000	53,265,303,000	55,513,827,000	62,533,816,000	62,626,317,000	62,559,969,000	62,830,910,000	65,748,119,000	68,019,413,000	76,640,686,000			34,750,770	74,412,553			73,500,041
equity in net income of investment funds accounted for using the equity method						109,250,000	171,000,000	167,000,000	99,000,000	44,000,000	59,000,000	69,000,000	48,000,000	18,876,250	-18,861,000	58,061,000	36,305,000	74,817,500	105,398,000	122,186,000	71,686,000	14,351,750	126,735,000	-65,119,000	-4,209,000	17,130,000	32,536,000	46,867,000	15,982,000	8,472,000	28,069,000	30,402,000	31,090,000	32,706,000	48,088,000	8,013,500	16,662,000	8,737,000	6,655,000	4,984,500	-2,118,000	16,167,000	5,889,000	4,966,000	9,240,000	3,253,000	7,607,250	5,665,000	10,941,000	13,823,000	24,330,000	7,787,000	24,826,000		5,973,000	29,673,000	9,708,000		29,050,000	69,119,000	75,890,000			19,583,000	-22,313,000
net income								1,269,000,000	1,120,000,000	2,333,000,000	723,000,000	669,000,000	717,000,000	862,788,000	18,258,000	403,945,000	197,432,000	623,675,000	421,415,000	718,664,000	475,708,000	599,314,000	488,682,000	466,389,000	-88,674,000	399,189,000	485,845,000	495,498,000	248,766,000	256,347,000	166,384,000	201,792,000	-45,217,000	199,099,000	274,035,000	95,574,000	303,620,000	249,357,000	175,627,000	28,006,000	64,000,000	125,819,000	308,757,000	223,264,000	211,717,000	179,145,000	161,490,000	114,825,000	176,940,000	256,476,000	189,656,000	220,268,000	164,256,000	168,988,000	98,342,000	25,756,000	148,031,000	243,451,000	216,994,000	280,868,000	158,590,000	146,330,000	32,851,000	198,743,000	195,883,000	205,012,000		100,893,000	-86,291,000	125,992,000	115,892,000	18,029,000	104,282,000	61,784,000
yoy								89.69%	56.21%	170.40%	3859.91%	65.62%	263.16%	38.34%	-95.67%	-43.79%	-58.50%	4.06%	-13.76%	54.09%	-636.47%	50.13%	0.58%	-5.87%	-135.65%	55.72%	192.00%	145.55%	-650.16%	28.75%	-39.28%	111.14%	-114.89%	-20.16%	56.03%	241.26%	374.41%	98.19%	-43.12%	-87.46%	-69.77%	-29.77%	91.19%	94.44%	19.65%	-30.15%	-14.85%	-47.87%	7.72%	51.77%	92.85%	755.21%	10.96%	-30.59%	-54.68%	-90.83%	-6.66%	66.37%	560.54%	41.32%	-19.04%	-28.62%		96.98%	-327.00%	62.72%		459.62%	-182.75%	103.92%
qoq								13.30%	-51.99%	222.68%	8.07%	-6.69%	-16.90%	4625.53%	-95.48%	104.60%	-68.34%	48.00%	-41.36%	51.07%	-20.62%	22.64%	4.78%	-625.96%	-122.21%	-17.84%	-1.95%	99.18%	-2.96%	54.07%	-17.55%	-546.27%	-122.71%	-27.35%	186.73%	-68.52%	21.76%	41.98%	527.10%	-56.24%	-49.13%	-59.25%	38.29%	5.45%	18.18%	10.93%	40.64%	-35.11%	-31.01%	35.23%	-13.90%	34.10%	-2.80%	71.84%	281.82%	-82.60%	-39.19%	12.19%	-22.74%	77.10%	8.38%	345.44%	-83.47%	1.46%	-4.45%			-216.92%	-168.49%	8.72%	542.81%	-82.71%	68.78%
net income margin %	0%	0%	0%	0%	0%	0%	0%	30.01%	28.42%	58.69%	21.72%	21.16%	22.63%	28.09%	0.77%	18.24%	10.17%	26.96%	20.06%	27.96%	21.00%	25.11%	21.13%	20.35%	-5.78%	23.72%	27.31%	28.76%	17.72%	18.17%	12.96%	14.20%	-3.06%	14.15%	20.77%	9.67%	25.35%	20.93%	16.16%	3.10%	6.86%	12.34%	28.53%	22.49%	20.44%	18.93%	17.49%	13.33%	20.77%	28.81%	20.96%	26.15%	20.15%	22.09%	12.68%	3.32%	18.57%	31.36%	25.68%	28.77%	18.69%	19.50%	4.40%	23.78%	23.07%	23.84%		12.33%	-10.80%	15.81%	15.38%	2.27%	13.83%	11.48%
net loss attributable to noncontrolling interests																															-15,961,000			-13,932,000												3,355,000
net foreign exchange (gains) losses									-31,000,000	250,000	-22,000,000	5,000,000	18,000,000	-45,532,250	-90,509,000	-87,775,000	-3,845,000	-9,591,500	-36,078,000	17,775,000	-20,063,000	2,856,250	44,885,000	39,211,000	-72,671,000	-33,124,000	4,952,000	-3,525,000	-10,838,000	-53,706,000						-38,176,000	2,621,000	-24,662,000					-66,501,000	-56,031,000													65,157,000			19,755,000	53,658,000
net (income) loss attributable to noncontrolling interests												2,000,000	-2,000,000	-3,100,000	-1,157,000	399,000	-1,632,000	-410,000	-1,473,000	-43,178,000	-37,552,000	-55,770,000	-69,643,000	-167,568,000	232,791,000	-6,736,000	-16,891,000	-46,970,000	-21,358,000	-12,701,000		12,848,000	11,561,000		-20,908,000	-21,561,000	-50,748,000	-38,302,000	-20,829,000
loss on redemption of preferred shares																			-15,101,000												-2,710,000		-6,735,000
income tax expense																-22,323,000	-11,619,000	222,758,000	-4,137,000	-51,179,000	-38,860,000	189,617,000	-23,707,000	-26,127,000	-27,945,000	-38,116,000	-44,472,000	-45,886,000	-33,356,000	-23,668,000	-21,915,000	198,323,000	-8,189,000	-34,169,000	-28,397,000	75,046,000	-13,231,000	-14,131,000	-16,310,000	69,774,000	-9,704,000	-6,780,000	-12,678,000	-6,446,000	-7,289,000	3,738,000	4,330,000	7,396,000	5,071,000	4,853,000							3,200,000	1,420,000	6,753,000		8,818,000	9,490,000		5,253,000	7,956,000	8,495,000		12,351,000		7,818,000	9,422,000		4,692,000	6,569,000
net premiums written																						1,419,925,250	1,874,144,000	1,668,311,000	2,137,246,000	1,613,457,000	1,444,898,000	1,525,259,000	1,333,553,000	1,298,896,000	1,412,544,000	1,111,015,000	1,325,403,000	1,248,695,000	1,276,260,000	872,315,000	1,014,278,000	1,023,563,000	1,121,235,000	834,984,000	971,972,000	943,580,000	1,066,995,000	959,539,000	971,928,000	1,064,990,000	748,921,000	839,135,000	810,535,000	952,776,000	755,249,000	820,233,000	863,611,000	691,381,000	706,543,000	764,278,000	636,117,000	624,258,000	767,754,000	727,308,000	693,854,000	822,863,000	692,692,000	686,118,000	811,342,000	871,745,000		827,939,000	787,304,000	723,728,000	799,801,000	743,229,000	677,646,000	560,002,000
change in unearned premiums																						-124,702,750	-103,052,000	-2,957,000	-392,802,000	-175,434,000	18,829,000	-156,393,000	-42,675,000	37,867,000	-177,645,000	113,740,000	-63,517,000	-7,821,000	-159,243,000	96,540,000	-55,875,000	-17,578,000	-169,656,000	108,536,000	-35,289,000	-142,000	-156,731,000	-55,888,000	-64,776,000	-205,210,000	90,445,000	-44,135,000	-51,719,000	-200,006,000
income before income taxes																						633,373,000	512,389,000	492,516,000	-60,729,000	437,305,000	530,317,000	541,384,000	282,122,000	280,015,000	188,299,000	258,605,000	-37,028,000	233,268,000	302,432,000	83,276,000	316,851,000	263,488,000	191,937,000	39,456,000	73,704,000	132,599,000	321,435,000	229,710,000	219,006,000	182,883,000	176,944,000	122,221,000	182,011,000	261,329,000	195,097,000	221,035,000	166,158,000	166,721,000	96,611,000	25,385,000	151,231,000	244,871,000	223,747,000	283,073,000	167,408,000	155,820,000	31,002,000	203,996,000	203,839,000	213,507,000		43,047,750		133,810,000	125,314,000		108,974,000	68,353,000
other-than-temporary impairment losses																										-1,163,000	-49,000	-1,309,000	-492,000	-470,000	-162,000	-1,723,000	-1,878,000	-1,730,000	-1,807,000	-13,795,000	-3,867,000	-5,395,000	-7,737,000	-8,878,000	-8,901,000	-1,126,000	-7,247,000	-8,593,000	-14,749,000	-2,971,000	-88,000	-901,000	-724,000	-2,248,000
less investment impairments recognized in other comprehensive income, before taxes																																				37,500		52,000	98,000	1,123,500	3,033,000	13,000	1,448,000				43,750	173,000		2,000	265,000	503,000	8,000	2,441,000	285,000	578,000	604,000	308,000	730,000	3,217,000
net impairment losses recognized in earnings																										-1,163,000	-49,000	-1,309,000	-492,000	-470,000	-162,000	-1,723,000	-1,878,000	-1,730,000	-1,807,000	-13,593,000	-3,867,000	-5,343,000	-7,639,000	-7,336,000	-5,868,000	-1,113,000	-5,799,000	-8,593,000	-14,749,000	-2,971,000	-88,000	-728,000	-724,000	-2,246,000
net income per common share
basic	2,940,000	3,400,000	3,630,000	3,300,000	1,510,000	2,480,000	2,620,000	3,380,000	2,990,000	6,300,000	1,930,000	1,790,000	1,920,000	2,310	20	1,070	500	1,600	1,000	1,670	1,070	1,320	1,010	720	330	950	1,140	1,090	540	580	1,010	1,510	-390	1,290	1,800	510	2,050	1,700	1,240	450	620	910	2,240	1,690	1,530	1,340	1,190	830	1,310	1,920	1,360	1,580	1,180	1,240	700	430	2,890	4,650	3,970	4,560	2,520	2,320	440	3,050	2,900	2,690		1.125	-2.48	3.65	3.37		3.26	2.36
diluted	2,880,000	3,340,000	3,560,000	3,230,000	1,480,000	2,410,000	2,560,000	3,300,000	2,920,000	6,120,000	1,880,000	1,750,000	1,870,000	2,250	20	1,040	480	1,570	980	1,630	1,050	1,300	1,000	710	320	920	1,120	1,070	530	560	990	1,460	-390	1,250	1,740	490	1,980	1,650	1,200	430	600	880	2,160	1,640	1,480	1,300	1,150	800	1,260	1,850	1,330	1,540	1,140	1,190	670	410	2,770	4,450	3,790	4,390	2,430	2,240	420	2,920	2,780	2,590		0.523	-2.48	1.69	1.57		1.42	0.91
net foreign exchange gains																																								-15,399,500	-14,680,000								-13,811,000																					-10,198,000
amounts attributable to noncontrolling interests																																								-4,854,250	16,033,000	-10,029,000	-25,421,000	5,411,000	-3,701,000
net income available to common shareholders																																													202,531,000	177,016,000	156,005,000	109,341,000	171,455,000	250,992,000	184,172,000	212,619,000	157,795,000	162,527,000	91,881,000	19,295,000	141,570,000	236,990,000	210,533,000	274,407,000	152,129,000	139,869,000	26,390,000	192,282,000	189,422,000	198,551,000
fee income																																															491,500	526,000	902,000	538,000	1,077,000	806,000	543,000	848,000	784,000	815,000	874,000	883,000	794,000	826,000	817,000	925,000	944,000	1,238,000	1,068,000	1,969,000		991,000	2,239,000	1,025,000	6,112,000	5,853,000	4,304,000	4,934,000
loss on repurchase of preferred shares
income tax (benefit) expense
increase in unearned premiums																																																																	-103,108,000
decrease (increase) in unearned premiums																																																												7,077,000	5,404,000		40,339,000	19,557,000
total other-than-temporary impairment losses
portion of loss recognized in other comprehensive income, before taxes																																																														56,855,000
net realized losses
non-cash compensation																																																																				686,000	641,000	753,000	774,000	2,330,000	2,756,000	3,498,000
net income per share
basic	2,940,000	3,400,000	3,630,000	3,300,000	1,510,000	2,480,000	2,620,000	3,380,000	2,990,000	6,300,000	1,930,000	1,790,000	1,920,000	2,310	20	1,070	500	1,600	1,000	1,670	1,070	1,320	1,010	720	330	950	1,140	1,090	540	580	1,010	1,510	-390	1,290	1,800	510	2,050	1,700	1,240	450	620	910	2,240	1,690	1,530	1,340	1,190	830	1,310	1,920	1,360	1,580	1,180	1,240	700	430	2,890	4,650	3,970	4,560	2,520	2,320	440	3,050	2,900	2,690		1.125	-2.48	3.65	3.37		3.26	2.36
diluted	2,880,000	3,340,000	3,560,000	3,230,000	1,480,000	2,410,000	2,560,000	3,300,000	2,920,000	6,120,000	1,880,000	1,750,000	1,870,000	2,250	20	1,040	480	1,570	980	1,630	1,050	1,300	1,000	710	320	920	1,120	1,070	530	560	990	1,460	-390	1,250	1,740	490	1,980	1,650	1,200	430	600	880	2,160	1,640	1,480	1,300	1,150	800	1,260	1,850	1,330	1,540	1,140	1,190	670	410	2,770	4,450	3,790	4,390	2,430	2,240	420	2,920	2,780	2,590		0.523	-2.48	1.69	1.57		1.42	0.91
weighted-average shares outstanding
basic	353,200,000	368,400,000	369,000,000	372,200,000	372,900,000	372,500,000	373,200,000	372,700,000	370,900,000	368,700,000	369,200,000	368,700,000	367,300,000	368,612,197,000	365,190,527,000	369,241,193,000	374,243,812,000	391,748,715,000	389,274,220,000	397,743,402,000	400,807,895,000	403,062,179,000	402,850,485,000	402,503,687,000	403,892,161,000	402,564,121,000	401,482,784,000	400,184,404,000	402,939,092,000	404,800,421,000	135,846,576,000	134,712,788,000	134,885,451,000	134,486,664,000	134,034,927,000	120,792,114,000	120,938,916,000	120,599,060,000	120,428,179,000	121,786,127,000	120,567,410,000	121,719,214,000	124,209,276,000	131,945,962,000	132,650,634,000	131,857,910,000	131,355,392,000	131,495,296,000	131,377,274,000	130,907,902,000	135,067,360,000	134,529,129,000	133,954,623,000	131,560,851,000	131,232,269,000	44,499,747,000	48,997,791,000	50,987,540,000	53,039,026,000	60,156,219,000	60,417,391,000	60,313,550,000	60,109,932,000	62,995,550,000	65,295,516,000	73,931,996,000			34,750,770	34,563,565			32,023,865
diluted	359,700,000	375,900,000	376,100,000	379,900,000	381,900,000	381,800,000	382,300,000	381,600,000	380,500,000	378,800,000	379,400,000	378,400,000	377,600,000	377,609,767,000	373,727,277,000	377,952,988,000	384,194,363,000	400,345,936,000	397,903,347,000	406,485,994,000	409,223,253,000	410,259,455,000	409,194,657,000	408,119,681,000	414,033,570,000	413,180,201,000	410,899,483,000	408,971,029,000	411,721,214,000	413,111,205,000	139,297,934,000	139,261,675,000	134,885,451,000	139,244,646,000	139,047,672,000	124,717,493,000	124,931,653,000	124,365,596,000	124,496,496,000	126,038,743,000	125,011,773,000	125,885,420,000	128,451,054,000	135,876,605,000	136,889,944,000	136,562,717,000	135,777,183,000	136,034,413,000	135,849,050,000	135,409,288,000	138,696,934,000	138,211,736,000	137,814,906,000	137,140,929,000	137,975,599,000	46,820,172,000	51,182,009,000	53,265,303,000	55,513,827,000	62,533,816,000	62,626,317,000	62,559,969,000	62,830,910,000	65,748,119,000	68,019,413,000	76,640,686,000			34,750,770	74,412,553			73,500,041
decrease in unearned premiums																																																																						16,164,000			45,753,000
weighted average shares outstanding
basic																																																																							34,364,818	32,985,085
diluted																																																																							74,013,546	73,547,450
income before income taxes and extraordinary item																																																																								15,747,000
income before extraordinary item																																																																								18,029,000
extraordinary gain – excess of fair value of net assets acquired over cost
net income per share
basic:
extraordinary gain
diluted:
net realized investment gains																																																																										3,889,000
average shares outstanding
basic																																																																										26,185,445
diluted																																																																										67,728,798

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-09-30	2019-06-30	2019-03-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-06-30	2014-03-31	2013-09-30	2013-03-31	2012-03-31	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-09-30	2004-06-30	2003-06-30

assets
investments:
fixed maturities available for sale, at fair value	32,399,000,000	32,426,000,000	31,908,000,000	30,332,000,000	28,798,000,000	27,035,000,000	28,434,000,000	25,202,000,000	23,628,000,000	23,553,000,000	22,485,000,000	21,434,000,000	20,692,000,000	19,682,789,000	18,120,727,000	17,585,029,000	17,648,853,000	17,998,109,000	16,768,363,000	18,073,779,000	18,723,035,000	18,717,825,000	18,452,888,000	17,207,731,000	16,841,571,000	16,470,523,000	15,881,732,000	15,177,312,000	14,331,641,000	14,128,989,000	14,348,941,000	13,876,003,000	13,792,903,000	13,671,011,000	13,745,932,000	13,426,577,000	11,026,929,000	11,050,464,000	10,645,257,000	10,459,353,000	10,560,635,000	9,927,603,000	10,427,810,000	10,714,532,000	9,775,730,000	9,688,345,000	9,890,425,000	9,221,145,000	9,247,002,000							7,544,831,000	7,746,296,000	7,591,695,000	6,963,359,000	6,876,548,000	6,727,113,000	5,948,595,000	5,414,156,000		5,153,953,000	6,124,248,000	5,732,566,000	5,095,952,000	4,461,137,000	2,293,223,000
short-term investments available for sale, at fair value	2,638,000,000	2,625,000,000	2,351,000,000	2,788,000,000	2,477,000,000	2,784,000,000	3,341,000,000	2,297,000,000	2,142,000,000	2,063,000,000	1,682,000,000	1,702,000,000	1,553,000,000	1,331,662,000	1,940,857,000	2,227,874,000	2,332,624,000	1,734,716,000	3,069,965,000	2,248,613,000	1,269,631,000	1,924,922,000	2,039,097,000	2,277,866,000	944,531,000	751,989,000	821,961,000	706,214,000	961,799,000	1,096,798,000	967,389,000	1,469,042,000	1,646,036,000	914,356,000	803,619,000	612,005,000	1,184,408,000	853,531,000	623,844,000	587,904,000	708,428,000	875,727,000	855,032,000	977,058,000	1,484,280,000	993,375,000	943,414,000	1,112,249,000	704,495,000							863,783,000	645,587,000	631,285,000	796,682,000	957,698,000	887,187,000	973,671,000	1,052,753,000		485,157,000	176,268,000	205,217,000	138,260,000	84,031,000	244,950,000
equity securities, at fair value	1,766,000,000	1,864,000,000	1,805,000,000	1,715,000,000	1,618,000,000	1,675,000,000	1,623,000,000	1,397,000,000	1,720,000,000	1,186,000,000	894,000,000	911,000,000	859,000,000	859,969,000	809,869,000	772,689,000	1,002,572,000	1,804,170,000	1,790,640,000	1,693,552,000	1,532,906,000	1,444,830,000	1,502,015,000	1,257,317,000	1,181,903,000	550,485,000	670,943,000	495,895,000	444,118,000	534,482,000	543,650,000
other investments, at fair value	3,331,000,000		3,027,000,000	2,892,000,000	2,888,000,000		3,261,000,000	3,206,000,000	2,886,000,000		2,068,000,000	1,846,000,000	1,776,000,000		1,578,751,000	1,634,368,000	1,686,666,000																																												290,305,000	132,046,000	102,351,000
investments accounted for using the equity method	6,652,000,000	6,453,000,000	6,232,000,000	6,566,000,000	6,340,000,000	5,980,000,000	5,244,000,000	4,983,000,000	4,842,000,000	4,566,000,000	4,251,000,000	4,073,000,000	3,896,000,000	3,774,310,000	3,565,946,000	3,496,341,000	3,325,543,000	3,077,611,000	2,741,293,000	2,539,124,000	2,256,327,000	2,047,889,000	1,883,702,000	1,727,302,000	1,676,055,000	1,575,832,000	1,581,972,000	1,563,779,000	1,524,242,000	1,428,582,000	1,394,548,000	1,041,322,000	962,574,000	948,856,000	861,607,000	811,273,000	797,542,000	685,766,000	628,832,000	592,973,000	589,277,000	472,926,000	412,367,000	281,464,000	255,488,000	226,644,000	219,674,000	347,273,000	399,968,000
total investments	46,786,000,000	46,504,000,000	45,323,000,000	44,293,000,000	42,121,000,000	40,540,000,000	41,903,000,000	37,085,000,000	35,218,000,000	33,856,000,000	31,380,000,000	29,966,000,000	28,776,000,000	27,292,927,000	26,016,150,000	25,716,301,000	25,996,258,000	26,588,156,000	26,414,231,000	29,298,681,000	28,361,147,000	28,761,358,000	27,691,536,000	26,464,777,000	24,136,861,000	23,617,335,000	23,127,963,000	22,327,879,000	21,666,428,000	21,537,418,000	21,740,710,000	21,840,012,000	21,931,881,000	20,699,152,000	20,254,670,000	19,719,651,000	17,554,337,000	16,667,888,000	16,334,188,000	15,842,941,000	15,815,437,000	15,346,940,000	15,411,644,000	15,163,135,000	13,843,497,000	13,071,357,000	12,967,426,000	12,212,177,000	11,838,099,000	11,775,749,000	12,052,503,000	11,348,864,000	11,219,621,000	10,646,867,000	10,239,622,000	9,967,647,000	10,057,607,000	10,062,479,000	9,342,526,000	9,032,704,000	8,749,035,000	7,816,538,000	7,452,210,000		6,606,739,000	6,322,767,000	5,960,475,000	5,257,504,000	4,569,397,000	2,566,779,000
cash	914,000,000	993,000,000	1,063,000,000	983,000,000	1,187,000,000	979,000,000	1,025,000,000	1,020,000,000	993,000,000	917,000,000	859,000,000	904,000,000	803,000,000	855,118,000	813,583,000	813,548,000	812,917,000	858,668,000	1,137,721,000	1,234,059,000	941,951,000	906,448,000	976,398,000	854,259,000	882,284,000	880,099,000	605,316,000	633,100,000	651,037,000	526,628,000	680,891,000	606,199,000	862,361,000	740,320,000	703,754,000	842,942,000	578,816,000	516,591,000	557,961,000	553,326,000	649,779,000	525,074,000	471,012,000	926,443,000	1,569,605,000	436,141,000	356,767,000	422,806,000	411,001,000	406,877,000	365,997,000	341,469,000	338,708,000	336,693,000	244,037,000	239,097,000	246,544,000	258,680,000	225,249,000	317,017,000	188,139,000	366,373,000	247,906,000		161,759,000	162,017,000	86,723,000	92,763,000	188,121,000	62,013,000
accrued investment income	302,000,000	338,000,000	307,000,000	329,000,000	267,000,000	298,000,000	292,000,000	287,000,000	236,000,000	236,000,000	217,000,000	233,000,000	163,000,000	158,680,000	116,263,000	116,102,000	82,607,000	85,453,000	75,832,000	96,546,000	101,108,000	103,299,000	106,940,000	102,064,000	118,089,000	116,196,000	119,252,000	112,935,000	106,543,000	114,307,000	106,114,000	113,133,000	101,104,000	108,562,000	104,168,000	124,483,000	81,907,000	85,317,000	81,628,000	87,206,000	76,142,000	80,129,000	73,282,000	64,869,000	59,701,000	64,428,000	65,023,000	65,643,000	71,083,000	69,057,000	79,180,000	72,102,000	74,214,000	70,854,000	65,365,000	82,218,000	76,313,000	73,686,000	68,012,000	68,440,000	70,163,000	65,617,000	59,936,000		56,017,000	63,210,000	56,978,000	49,706,000	42,219,000	25,570,000
investment in operating affiliates	1,330,000,000	1,313,000,000	1,417,000,000	1,356,000,000	1,305,000,000	1,240,000,000	1,236,000,000	1,143,000,000	1,174,000,000	1,119,000,000	1,000,000,000	973,000,000	1,015,000,000	964,604,000	891,212,000	967,603,000	1,144,255,000	1,135,655,000	1,111,825,000	731,810,000	739,783,000
premiums receivable	6,526,000,000	5,723,000,000	6,450,000,000	7,067,000,000	6,607,000,000	5,634,000,000	6,364,000,000	6,268,000,000	5,765,000,000	4,644,000,000	4,937,000,000	5,296,000,000	4,513,000,000	3,624,777,000	3,579,380,000	3,634,182,000	3,223,504,000	2,633,280,000	2,807,720,000	2,866,578,000	2,618,175,000	2,064,586,000	2,225,311,000	2,203,753,000	2,155,204,000	1,618,186,000	1,606,040,000	1,584,682,000	1,307,466,000	1,351,310,000	1,375,080,000	1,135,249,000	1,269,678,000	1,314,564,000	1,254,048,000	1,072,435,000	1,182,708,000	1,260,607,000	1,209,548,000	983,443,000	1,074,884,000	1,181,636,000	1,116,389,000	1,098,692,000	1,008,375,000	850,386,000	870,575,000	700,137,000	712,397,000	633,144,000	662,634,000	706,503,000	699,385,000	735,969,000	720,724,000	738,694,000	859,261,000	880,946,000	954,168,000	749,961,000	901,001,000	897,400,000	872,975,000	672,902,000	678,335,000	622,664,000	642,877,000	601,220,000	602,862,000	560,861,000
reinsurance recoverable on unpaid and paid losses and loss adjustment expenses	9,732,000,000	9,526,000,000	9,070,000,000	9,044,000,000	8,969,000,000	8,260,000,000	7,948,000,000	7,473,000,000	7,509,000,000	7,064,000,000	6,821,000,000	6,717,000,000	6,612,000,000	6,563,654,000	6,356,456,000	5,938,511,000	5,941,000,000	5,880,735,000	5,358,852,000	4,314,515,000	4,041,076,000	4,500,802,000	4,621,937,000	4,363,507,000	4,303,135,000	3,168,195,000	3,171,257,000	3,099,823,000	2,749,785,000	2,727,303,000	2,510,119,000	2,540,143,000	2,506,015,000	2,155,107,000	2,133,148,000	2,114,138,000	2,076,248,000	2,034,970,000	1,962,863,000	1,867,373,000	1,832,386,000	1,831,227,000	1,788,619,000	1,796,403,000	1,790,025,000	1,795,888,000	1,846,064,000	1,849,603,000	1,855,342,000
contractholder receivables	2,253,000,000	2,270,000,000	2,287,000,000	2,280,000,000	2,212,000,000	2,161,000,000	2,078,000,000	2,016,000,000	1,907,000,000	1,814,000,000	1,805,000,000	1,761,000,000	1,750,000,000	1,731,293,000	1,735,730,000	1,758,018,000	1,810,199,000	1,828,691,000	1,824,990,000	1,882,948,000	1,919,655,000	1,986,924,000	2,185,614,000	2,179,124,000	2,140,724,000	2,094,683,000	2,102,544,000	2,087,720,000	2,067,268,000	2,044,322,000	2,002,469,000	1,978,414,000	1,864,348,000	1,826,966,000	1,766,340,000	1,717,436,000	1,649,441,000	1,600,426,000	1,529,105,000	1,486,296,000	1,436,154,000	1,393,138,000	1,339,433,000	1,234,392,000	1,118,991,000	1,028,772,000	908,034,000	762,031,000
ceded unearned premiums	3,183,000,000	2,659,000,000	3,079,000,000	3,229,000,000	2,895,000,000	2,428,000,000	2,935,000,000	2,981,000,000	2,717,000,000	2,170,000,000	2,444,000,000	2,459,000,000	2,116,000,000	1,799,197,000	2,115,539,000	2,123,915,000	1,951,960,000	1,729,455,000	1,824,910,000	1,541,093,000	1,406,489,000	1,234,075,000	1,450,200,000	1,364,603,000	1,357,284,000	1,168,258,000	1,136,728,000	1,099,581,000	1,011,850,000	1,014,663,000	996,772,000	926,611,000	947,135,000	961,330,000	941,923,000	859,567,000
deferred acquisition costs	1,774,000,000	1,717,000,000	1,786,000,000	1,814,000,000	1,785,000,000	1,734,000,000	1,744,000,000	1,635,000,000	1,625,000,000	1,531,000,000	1,483,000,000	1,452,000,000	1,355,000,000	1,263,870,000	1,122,711,000	1,069,845,000	1,001,866,000	901,841,000	893,665,000	1,013,657,000	919,740,000	790,708,000	750,901,000	714,531,000	708,848,000	622,028,000	600,740,000	597,526,000	572,987,000		596,264,000	535,824,000	531,196,000	506,748,000	487,925,000	447,560,000	469,466,000	462,906,000	464,288,000	433,477,000	448,893,000	448,647,000	442,775,000	399,385,000	384,294,000	338,671,000	306,505,000	261,467,000	310,616,000	302,271,000	297,250,000	293,982,000	298,371,000	307,896,000	313,973,000	310,916,000	319,732,000	311,364,000	314,686,000	290,999,000	313,806,000	323,328,000	327,491,000		313,942,000	303,969,000	297,613,000	304,454,000	302,069,000	240,300,000
receivable for securities sold	643,000,000	180,000,000	695,000,000	390,000,000	324,000,000	50,000,000	790,000,000	116,000,000	166,000,000	63,000,000	59,000,000	97,000,000	84,000,000	12,493,000	27,042,000	157,329,000	116,633,000	60,179,000	84,019,000	309,234,000	199,424,000	92,743,000	158,674,000	167,281,000	221,573,000	50,615,000	164,592,000	334,982,000	278,753,000	143,809,000	217,224,000	205,536,000	385,952,000	212,512,000	239,678,000	58,284,000	285,112,000	142,315,000	329,262,000	45,505,000	705,821,000	454,057,000	400,113,000	261,669,000	426,431,000	288,080,000	395,958,000	621,560,000	733,931,000	749,708,000	1,329,508,000	1,084,122,000	1,427,085,000	1,192,659,000	1,191,896,000	1,099,000,000	1,053,379,000	671,354,000	164,124,000	190,168,000	91,375,000	150,902,000			68,247,000
goodwill and intangible assets	1,190,000,000	1,222,000,000	1,268,000,000	1,319,000,000	1,308,000,000	1,351,000,000	1,486,000,000	725,000,000	778,000,000	731,000,000	739,000,000	775,000,000	785,000,000	804,289,000	806,655,000	868,014,000	926,427,000	944,983,000	963,322,000	667,153,000	679,509,000	692,863,000	713,777,000	688,490,000	705,450,000	624,500,000	641,010,000	659,215,000	566,662,000	593,008,000	626,004,000	652,611,000	684,405,000	712,975,000	750,315,000	781,553,000	90,941,000	88,327,000	92,670,000	97,531,000	103,620,000	102,518,000	106,745,000	118,721,000	120,875,000																					16,666,000	16,666,000	31,423,000	31,423,000	35,882,000
other assets	6,813,000,000	6,796,000,000	6,440,000,000	6,684,000,000	6,196,000,000	6,231,000,000	5,855,000,000	4,716,000,000	4,680,000,000	4,761,000,000	3,483,000,000	3,223,000,000	3,131,000,000	2,919,605,000	2,756,383,000	2,555,826,000	2,670,315,000	2,453,849,000	2,286,649,000	2,357,064,000	2,135,261,000	1,853,579,000	1,771,998,000	1,632,756,000	1,509,232,000	1,192,093,000	1,135,718,000	1,035,332,000	974,346,000	1,000,471,000	922,156,000	1,053,009,000	1,012,510,000	1,014,282,000	930,688,000	889,080,000	679,260,000	680,843,000	898,678,000	968,482,000	899,498,000	905,449,000	933,921,000	888,627,000	926,094,000	570,777,000	540,134,000	497,061,000	746,267,000	734,317,000	624,395,000	634,242,000	628,407,000	549,950,000	531,955,000	618,017,000	647,034,000	595,266,000	487,749,000	511,940,000	460,429,000	430,536,000	444,746,000		262,509,000	216,883,000	213,461,000	170,317,000	157,144,000	67,854,000
total assets	81,446,000,000	79,241,000,000	79,185,000,000	78,788,000,000	75,176,000,000	70,906,000,000	73,656,000,000	65,465,000,000	62,768,000,000	58,906,000,000	55,227,000,000	53,856,000,000	51,103,000,000	47,990,507,000	46,337,104,000	45,719,194,000	45,677,941,000	45,100,945,000	44,783,736,000	46,481,886,000	44,204,267,000	43,282,297,000	42,716,035,000	41,199,648,000	38,416,126,000	35,572,603,000	34,851,670,000	33,977,037,000	32,252,534,000	31,853,120,000	32,131,955,000	32,051,658,000	32,624,797,000	30,862,639,000	30,092,226,000	29,372,109,000	25,643,231,000	24,411,917,000	24,541,369,000	23,177,270,000	23,770,592,000	23,084,925,000	22,849,680,000	22,573,515,000	21,800,358,000	18,930,823,000	18,757,061,000	17,812,783,000	17,213,806,000	17,191,966,000	17,701,397,000	16,777,399,000	16,935,106,000	16,641,935,000	16,092,287,000	16,093,048,000	16,281,502,000	16,354,475,000	14,961,871,000	14,312,467,000	13,953,876,000	13,087,713,000	12,361,140,000	11,488,436,000	10,926,753,000	9,128,644,000	8,615,677,000	7,658,528,000	6,916,133,000	4,203,006,000
liabilities
reserve for losses and loss adjustment expenses	34,105,000,000	33,547,000,000	32,822,000,000	32,089,000,000	30,946,000,000	29,369,000,000	28,679,000,000	24,466,000,000	23,705,000,000	22,752,000,000	21,836,000,000	21,268,000,000	20,758,000,000	20,031,943,000	19,288,291,000	18,194,324,000	18,109,107,000	17,757,156,000	17,331,047,000	17,196,648,000	16,443,952,000	16,513,929,000	15,900,526,000	15,044,874,000	14,309,580,000	12,389,384,000	12,230,316,000	12,010,041,000	11,554,321,000	11,424,337,000	11,496,205,000	11,383,792,000	11,351,267,000	10,520,511,000	10,296,821,000	10,200,960,000	9,610,189,000	9,471,647,000	9,378,987,000	9,125,250,000	9,084,855,000	9,082,281,000	8,928,950,000	9,018,989,000	8,938,958,000	8,819,419,000	8,835,710,000	8,511,323,000	8,564,908,000	8,319,324,000	8,054,677,000	7,940,104,000	7,898,162,000	7,809,034,000	7,709,317,000	7,569,543,000	7,349,083,000	7,319,141,000	6,595,820,000	6,463,041,000	6,309,624,000	6,121,878,000	5,760,939,000		5,098,327,000	4,175,403,000	3,865,940,000	3,229,783,000	2,702,358,000	1,185,593,000
unearned premiums	10,939,000,000	10,100,000,000	11,124,000,000	11,625,000,000	11,090,000,000	10,218,000,000	11,238,000,000	10,452,000,000	9,971,000,000	8,808,000,000	9,074,000,000	9,052,000,000	8,218,000,000	7,337,002,000	7,271,279,000	7,145,297,000	6,737,779,000	6,011,942,000	6,165,114,000	6,011,369,000	5,549,127,000	4,838,965,000	5,062,052,000	4,827,445,000	4,817,191,000	4,243,372,000	4,056,860,000	4,036,119,000	3,868,379,000	3,833,540,000	3,885,297,000	3,622,314,000	3,751,550,000	3,679,651,000	3,631,259,000	3,406,870,000	2,671,121,000	2,618,359,000	2,579,148,000	2,333,932,000	2,467,691,000	2,442,923,000	2,400,834,000	2,299,692,000	2,148,475,000	1,983,408,000	1,841,870,000	1,595,712,000	1,589,497,000	1,504,162,000	1,524,100,000	1,492,550,000	1,495,265,000	1,632,989,000	1,617,431,000	1,653,855,000	1,735,371,000	1,810,324,000	1,950,264,000	1,791,922,000	1,995,755,000	1,939,140,000	1,867,250,000		1,678,198,000	1,641,659,000	1,640,892,000	1,565,097,000	1,529,275,000	1,253,518,000
reinsurance balances payable	2,737,000,000	2,320,000,000	2,638,000,000	2,841,000,000	2,661,000,000	2,137,000,000	2,586,000,000	2,591,000,000	2,497,000,000	2,000,000,000	2,215,000,000	2,191,000,000	1,819,000,000	1,529,919,000	1,669,592,000	1,634,700,000	1,510,906,000	1,583,253,000	1,403,929,000	1,079,106,000	919,125,000	683,263,000	873,067,000	793,467,000	737,597,000	601,891,000	531,990,000	453,058,000	404,936,000	411,082,000	379,728,000	323,496,000	352,006,000	361,000,000	321,285,000	300,407,000	271,688,000	295,987,000	276,426,000	224,120,000	235,562,000	252,462,000	200,444,000	263,347,000	201,794,000	190,721,000	204,233,000	137,791,000	154,860,000	131,512,000	130,274,000	128,723,000	114,254,000	158,974,000	146,981,000	176,796,000	254,830,000	322,280,000	393,658,000	301,679,000	312,881,000	255,644,000	226,892,000		196,728,000	143,838,000	149,470,000	126,387,000	104,382,000	81,591,000
contractholder payables	2,260,000,000	2,277,000,000	2,293,000,000	2,286,000,000	2,218,000,000	2,165,000,000	2,082,000,000	2,020,000,000	1,910,000,000	1,817,000,000	1,807,000,000	1,764,000,000	1,752,000,000	1,733,984,000	1,738,089,000	1,761,023,000	1,813,930,000	1,832,127,000	1,828,474,000	1,887,418,000	1,925,508,000	1,995,562,000	2,191,515,000	2,185,414,000	2,149,762,000	2,094,683,000	2,102,544,000	2,087,720,000	2,067,268,000	2,044,322,000	2,002,469,000	1,978,414,000	1,864,348,000	1,826,966,000	1,766,340,000	1,717,436,000	1,649,441,000	1,600,426,000	1,529,105,000	1,486,296,000	1,436,154,000	1,393,138,000	1,339,433,000	1,234,392,000	1,118,991,000	1,028,772,000	908,034,000	762,031,000
collateral held for insured obligations	260,000,000	237,000,000	239,000,000	225,000,000	245,000,000	249,000,000	268,000,000	263,000,000	263,000,000	259,000,000	274,000,000	275,000,000	252,000,000	249,238,000	254,720,000	251,063,000	244,502,000	242,352,000	254,259,000	235,618,000	222,245,000	215,581,000	221,957,000	208,449,000	211,597,000	205,449,000	237,056,000	232,411,000	249,723,000	257,396,000	253,709,000	240,183,000	345,726,000	338,737,000	327,161,000	301,406,000	277,463,000	261,228,000	249,440,000	248,982,000	242,928,000
senior notes	2,729,000,000	2,729,000,000	2,728,000,000	2,728,000,000	2,728,000,000	2,728,000,000	2,727,000,000	2,727,000,000	2,727,000,000	2,726,000,000	2,726,000,000	2,726,000,000	2,726,000,000	2,725,410,000	2,725,153,000	2,724,896,000	2,724,642,000	2,724,394,000	2,724,149,000	2,861,728,000	2,861,417,000	2,861,113,000	2,860,811,000	2,860,733,000	1,871,869,000	1,871,386,000	1,733,865,000	1,733,694,000	1,733,364,000	1,733,211,000	1,733,043,000	1,732,884,000	1,732,726,000	1,732,570,000	1,732,410,000	1,732,258,000	791,437,000	791,392,000	791,349,000	791,306,000	791,264,000	791,222,000	800,000,000	800,000,000	800,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000	300,000,000
payable for securities purchased	798,000,000	308,000,000	335,000,000	728,000,000	578,000,000	181,000,000	967,000,000	410,000,000	433,000,000	247,000,000	417,000,000	526,000,000	262,000,000	95,041,000	174,769,000	292,106,000	176,452,000	64,850,000	357,531,000	586,881,000	386,453,000	218,779,000	382,236,000	275,257,000	327,359,000	176,130,000	294,109,000	376,332,000	255,427,000	356,583,000	282,731,000	449,186,000	1,091,464,000	458,722,000	389,649,000	76,183,000	474,041,000	382,834,000	494,813,000	64,996,000	817,371,000	468,015,000	554,625,000	552,075,000	499,473,000	519,244,000	594,521,000	742,995,000	838,787,000	1,266,390,000	1,649,462,000	1,192,181,000	1,429,529,000	1,432,395,000	1,433,732,000	1,138,117,000	1,064,224,000	710,994,000	216,381,000	418,109,000	288,815,000	166,694,000	35,690,000		10,096,000	20,152,000	24,009,000
other liabilities	3,430,000,000	3,517,000,000	3,287,000,000	3,225,000,000	3,165,000,000	3,039,000,000	2,835,000,000	1,871,000,000	1,905,000,000	1,942,000,000	1,637,000,000	1,411,000,000	1,317,000,000	1,367,068,000	1,411,193,000	1,289,760,000	1,431,271,000	1,329,742,000	1,321,470,000	1,332,843,000	1,565,861,000	1,510,888,000	1,681,181,000	1,467,739,000	1,392,905,000	1,007,524,000	904,438,000	984,942,000	819,373,000	752,399,000	765,948,000	782,717,000	788,354,000	648,099,000	674,313,000	784,110,000	618,834,000	533,694,000	549,832,000	568,852,000	649,910,000	756,005,000	679,450,000	577,320,000	575,394,000	496,125,000	543,788,000	531,700,000	750,972,000	718,896,000	658,766,000	644,829,000	683,369,000	604,561,000	580,093,000	687,700,000	673,554,000	658,324,000	519,018,000	510,614,000	511,532,000	479,825,000	488,219,000		287,407,000	293,863,000	298,299,000	253,530,000	201,119,000	110,304,000
total liabilities	57,258,000,000	55,035,000,000	55,466,000,000	55,747,000,000	53,631,000,000	50,086,000,000	51,382,000,000	44,800,000,000	43,411,000,000	40,551,000,000	39,986,000,000	39,213,000,000	37,104,000,000	35,069,605,000	34,533,086,000	33,293,169,000	32,748,589,000	31,545,816,000	31,385,973,000	31,519,407,000	30,173,261,000	29,294,856,000	29,448,283,000	28,472,748,000	26,500,721,000	23,510,794,000	23,032,496,000	22,817,977,000	21,814,433,000	21,622,107,000	21,921,458,000	21,805,723,000	22,646,926,000	20,880,560,000	20,412,552,000	20,060,984,000	17,250,642,000	16,714,040,000	17,167,593,000	16,028,376,000	16,628,526,000	15,947,534,000	15,551,780,000	15,332,450,000	14,895,495,000	13,487,538,000	13,421,531,000	12,973,327,000	12,772,537,000	12,866,431,000	12,983,487,000	12,379,396,000	12,556,349,000	12,611,967,000	12,461,891,000	12,576,338,000	12,395,269,000	12,349,931,000	11,178,523,000	10,721,848,000	10,607,627,000	10,071,933,000	9,611,586,000	9,007,909,000	8,575,222,000	6,625,252,000	6,326,813,000	5,530,074,000	4,878,629,000	2,636,664,000
commitments and contingencies
shareholders' equity
non-cumulative preferred shares	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	830,000,000	1,280,000,000	780,000,000	780,000,000	780,000,000	780,000,000	780,000,000	780,000,000	780,000,000	780,000,000	780,000,000	780,000,000	780,000,000	872,555,000	772,555,000	772,555,000	772,555,000	772,555,000	775,000,000	325,000,000	325,000,000	325,000,000	325,000,000	325,000,000	325,000,000	325,000,000	325,000,000	325,000,000	325,000,000	325,000,000					130,000	130,000	130,000	130,000
common shares	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	654,000	652,000	652,000	651,000	648,000	648,000	647,000	645,000	643,000	642,000	642,000	642,000	638,000	638,000	636,000	633,000	633,000	630,000	611,000	610,000	609,000	583,000	582,000	582,000	581,000	579,000	577,000	576,000	576,000	573,000	570,000	567,000	565,000	561,000	552,000	541,000	535,000	531,000	529,000	527,000	610,000	605,000	602,000	619,000	646,000	737,000	743,000	740,000	739,000	738,000		355,000	353,000	351,000	347,000	335,000	280,000
additional paid-in capital	2,831,000,000	2,735,000,000	2,682,000,000	2,660,000,000	2,588,000,000	2,510,000,000	2,465,000,000	2,443,000,000	2,401,000,000	2,327,000,000	2,297,000,000	2,278,000,000	2,260,000,000	2,211,444,000	2,186,599,000	2,170,661,000	2,134,241,000	2,085,075,000	2,061,906,000	2,028,919,000	2,014,741,000	1,977,794,000	1,950,782,000	1,935,514,000	1,921,487,000	1,864,468,000	1,847,949,000	1,819,605,000	1,775,499,000	1,760,606,000	1,737,978,000	1,230,617,000	1,212,960,000	1,196,884,000	548,053,000	531,687,000	516,204,000	517,942,000	485,943,000	467,339,000	450,948,000	437,533,000	399,757,000	353,208,000	320,503,000	283,449,000	242,492,000	170,694,000	142,001,000	120,109,000	100,640,000	83,828,000	420,796,000	1,006,315,000	996,417,000	977,059,000	1,089,636,000	1,269,821,000	1,910,125,000	1,944,304,000	1,928,914,000	1,923,156,000	1,794,410,000		1,575,843,000	1,568,955,000	1,564,488,000	1,555,284,000	1,548,442,000	1,356,014,000
retained earnings	28,082,000,000	27,045,000,000	25,817,000,000	24,477,000,000	23,250,000,000	22,686,000,000	23,642,000,000	22,664,000,000	21,405,000,000	20,295,000,000	17,971,000,000	17,258,000,000	16,597,000,000	15,892,065,000	15,042,561,000	15,035,644,000	14,641,484,000	14,455,868,000	13,842,787,000	13,454,036,000	12,790,216,000	12,362,463,000	11,829,322,000	11,420,686,000	11,132,268,000	10,705,025,000	10,322,975,000	9,864,424,000	9,300,208,000	9,083,202,000	8,849,959,000	8,562,889,000	8,359,354,000	8,412,114,000	8,238,296,000	7,996,701,000	7,972,643,000	7,725,255,000	7,519,685,000	7,370,371,000	7,317,277,000	7,242,728,000	7,132,423,000	6,421,701,000	6,219,170,000	5,886,149,000	5,605,353,000	4,954,450,000	4,533,729,000	4,441,848,000	4,194,902,000	4,053,332,000	3,816,342,000	3,046,706,000	2,894,577,000	2,836,211,000	2,809,821,000	2,617,539,000	1,794,569,000	1,593,907,000	1,354,629,000	1,168,819,000	1,030,971,000		800,455,000	886,746,000	760,754,000	537,729,000	519,700,000	161,642,000
accumulated other comprehensive income, net of deferred income tax	-333,000,000	5,000,000		-48,000,000	-408,000,000	-720,000,000	-200,000,000	-810,000,000	-821,000,000	-676,000,000	-1,453,000,000	-1,319,000,000	-1,297,000,000	-1,646,170,000	-1,891,827,000	-1,258,265,000	-649,445,000	-64,600,000	49,184,000	230,048,000	205,827,000	488,895,000	386,357,000	349,488,000	21,944,000	211,714,000	206,827,000	38,323,000	-221,041,000	-194,157,000	-134,009,000	118,044,000	129,682,000	78,441,000	-15,677,000	-114,541,000	119,752,000	163,834,000	101,629,000	-16,502,000	9,809,000	66,441,000	158,023,000	233,883,000	123,719,000	41,955,000	229,563,000	234,468,000	263,584,000	225,405,000	388,370,000	173,231,000	140,962,000					116,408,000	77,787,000	51,535,000	61,836,000					53,354,000		46,983,000
common shares held in treasury, at cost	-7,223,000,000	-6,410,000,000	-5,611,000,000	-4,879,000,000	-4,716,000,000	-4,487,000,000	-4,464,000,000	-4,463,000,000	-4,461,000,000	-4,424,000,000	-4,407,000,000	-4,407,000,000	-4,403,000,000	-4,377,920,000	-4,372,875,000	-4,361,126,000	-4,037,342,000	-3,761,095,000	-3,396,999,000	-3,007,578,000	-2,694,957,000	-2,503,909,000	-2,495,106,000	-2,494,505,000	-2,489,097,000	-2,403,749,000	-2,401,037,000	-2,388,392,000	-2,280,151,000	-2,266,529,000	-2,084,186,000	-2,077,741,000	-2,053,644,000	-2,051,343,000	-2,039,270,000	-2,034,570,000	-2,031,859,000	-2,028,690,000	-2,019,249,000	-1,941,904,000	-1,940,795,000	-1,934,763,000	-1,727,074,000	-1,104,963,000	-1,096,826,000	-1,093,833,000	-1,067,439,000
total shareholders' equity available to arch	24,188,000,000		23,719,000,000	23,041,000,000	21,545,000,000	20,820,000,000	22,274,000,000	20,665,000,000	19,355,000,000	18,353,000,000	15,239,000,000	14,641,000,000	13,988,000,000	12,910,073,000	11,795,110,000	12,417,566,000	12,919,589,000	13,545,896,000	13,387,526,000	13,986,072,000	13,096,472,000	13,105,886,000	12,451,997,000	11,991,825,000	11,367,244,000	11,158,096,000	10,757,352,000	10,114,596,000	9,355,148,000	9,163,755,000	9,150,372,000	9,196,602,000	8,911,144,000	8,898,887,000	8,605,844,000	8,253,718,000	7,352,322,000	6,703,922,000	6,413,587,000	6,204,881,000	6,162,815,000	6,137,515,000	6,288,702,000	6,229,399,000	5,892,133,000
total liabilities and shareholders' equity	81,446,000,000	79,241,000,000	79,185,000,000	78,788,000,000	75,176,000,000																																									18,930,823,000	18,757,061,000
other investments		3,136,000,000				3,066,000,000				2,488,000,000				1,644,197,000				1,973,550,000	2,043,970,000	4,571,497,000	4,435,354,000	4,324,796,000																												386,127,000	418,411,000	340,598,000	263,608,000	115,260,000	104,988,000	142,146,000	295,638,000	316,252,000	422,387,000	307,082,000
shareholders’ equity																																																																2,480,527,000
total shareholders' equity		24,206,000,000												12,910,073,000				13,545,896,000	13,387,526,000	14,904,946,000	13,973,336,000	13,928,893,000	13,209,917,000	12,670,914,000	11,860,029,000	12,013,020,000	11,612,699,000	10,952,677,000	10,231,902,000	10,024,908,000	10,004,484,000	10,040,013,000	9,772,042,000	9,776,343,000	9,474,030,000	9,105,572,000	8,187,130,000	7,492,511,000	7,168,502,000	6,943,712,000	6,936,977,000	6,932,395,000	7,078,296,000	7,021,739,000		5,443,285,000	5,335,530,000
redeemable noncontrolling interests									2,000,000	2,000,000	2,000,000	2,000,000	11,000,000	10,829,000	8,908,000	8,459,000	9,763,000	9,233,000	10,237,000	57,533,000	57,670,000	58,548,000	57,835,000	55,986,000	55,376,000	48,789,000	206,475,000	206,383,000	206,199,000	206,105,000	206,013,000	205,922,000	205,829,000	205,736,000	205,644,000	205,553,000	205,459,000	205,366,000	205,274,000	205,182,000	205,089,000	204,996,000	219,604,000	219,326,000	219,234,000
total liabilities, noncontrolling interests and shareholders' equity						70,906,000,000	73,656,000,000	65,465,000,000	62,768,000,000	58,906,000,000	55,227,000,000	53,856,000,000	51,103,000,000	47,990,507,000	46,337,104,000	45,719,194,000	45,677,941,000	45,100,945,000	44,783,736,000	46,481,886,000	44,204,267,000	43,282,297,000	42,716,035,000	41,199,648,000	38,416,126,000	35,572,603,000	34,851,670,000	33,977,037,000	32,252,534,000	31,853,120,000	32,131,955,000	32,051,658,000	32,624,797,000	30,862,639,000	30,092,226,000	29,372,109,000	25,643,231,000	24,411,917,000	24,541,369,000	23,177,270,000	23,770,592,000	23,084,925,000	22,849,680,000	22,573,515,000
non-redeemable noncontrolling interests																				918,874,000	876,864,000	823,007,000	757,920,000	679,089,000	492,785,000	854,924,000	855,347,000	838,081,000	876,754,000	861,153,000	854,112,000	843,411,000	860,898,000	877,456,000	868,186,000	851,854,000	834,808,000	788,589,000	754,915,000	738,831,000	774,162,000	794,880,000	789,594,000	792,340,000	793,496,000
collateral received under securities lending, at fair value																				172,116,000	143,894,000	301,096,000	64,259,000	473,790,000	182,284,000	430,263,000	450,320,000	415,056,000	306,893,000	236,956,000	367,043,000	476,615,000	543,252,000	627,843,000	538,361,000	762,565,000	466,055,000	338,326,000	594,929,000	389,336,000	286,659,000	377,897,000
securities pledged under securities lending, at fair value																				168,548,000	140,949,000	294,912,000	62,749,000	464,503,000	177,442,000	420,415,000	440,510,000	404,262,000	299,409,000	230,064,000	358,152,000	464,917,000	528,212,000	610,121,000	525,569,000	744,980,000	453,757,000	330,773,000	580,766,000	384,081,000	285,632,000	373,969,000
revolving credit agreement borrowings																				155,687,000	155,687,000	155,687,000	210,687,000	335,587,000	500,587,000	490,720,000	491,006,000	488,612,000	554,756,000	572,289,000	755,294,000	816,132,000	826,242,000	686,452,000	734,961,000	756,650,000	398,100,000	397,830,000	457,431,000	530,434,000	339,077,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	125,000,000	125,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000
securities lending payable																				172,109,000	143,886,000	301,089,000	64,251,000	473,783,000	182,274,000	430,255,000	450,312,000	415,048,000	306,886,000	236,948,000	367,034,000	476,605,000	543,243,000	627,852,000	538,353,000	762,554,000	466,047,000	338,318,000	594,922,000	393,844,000	292,838,000	383,965,000	263,216,000	89,298,000	103,330,000	49,849,000	93,375,000	52,224,000	155,072,000	203,925,000	209,411,000	219,796,000	189,024,000	574,014,000	574,337,000	950,327,000	918,207,000
investments accounted for using the fair value option																							3,749,575,000	3,520,771,000	3,310,517,000	3,838,243,000	3,721,035,000	3,969,623,000	4,097,735,000	4,111,611,000	4,119,139,000	4,216,237,000	4,249,634,000	3,827,408,000	3,648,120,000	3,421,220,000	3,389,573,000	3,066,029,000	3,139,332,000	2,894,494,000	2,783,165,000	2,613,487,000	2,441,986,000	2,041,091,000	1,256,650,000	1,139,725,000	902,230,000	500,283,000	321,790,000
other investments available for sale, at fair value																																264,989,000	260,339,000	248,661,000	228,437,000	167,970,000	168,243,000	182,957,000	195,079,000	300,476,000	281,014,000	377,677,000	329,677,000	457,567,000	426,917,000	528,938,000	585,277,000	357,992,000	299,845,000
convertible non-voting common equivalent preferred shares																																489,627,000	489,627,000	489,627,000	1,101,304,000	1,101,304,000
deferred acquisition costs net																														569,817,000
equity securities available for sale, at fair value																																495,804,000	477,143,000	461,017,000	428,594,000	518,041,000	521,587,000	490,815,000	506,915,000	618,405,000	606,259,000	701,623,000	687,713,000	608,820,000	548,168,000	452,195,000	342,091,000	318,181,000	320,434,000
deposit accounting liabilities																																				22,150,000	22,281,000	22,325,000	266,140,000	260,364,000	270,876,000	277,523,000	284,828,000	397,337,000	409,080,000														43,284,000	45,107,000	44,590,000	46,526,000	49,646,000		49,782,000	50,337,000	48,203,000	55,277,000	41,495,000
prepaid reinsurance premiums																																					541,238,000	540,954,000	500,412,000	427,609,000	442,346,000	442,141,000	421,908,000	430,214,000	349,077,000	330,980,000	301,736,000	261,619,000	278,587,000	259,624,000	267,240,000	256,952,000	250,841,000	283,488,000	274,578,000	335,210,000	364,226,000	419,046,000	501,287,000	470,138,000	514,490,000	444,586,000	376,815,000		334,229,000	336,721,000	318,026,000	260,332,000	232,329,000	188,840,000
investment of funds received under securities lending, at fair value																																											257,059,000	82,603,000	96,264,000	42,135,000	84,315,000	41,867,000	145,224,000
investment in joint venture																																											90,724,000	103,934,000	102,803,000	106,982,000	108,038,000	107,866,000	105,982,000	105,495,000	104,347,000	103,540,000	102,946,000	100,656,000	101,143,000	98,951,000	100,000,000
fixed maturities and short-term investments pledged under securities lending, at fair value																																											253,115,000	87,031,000	100,590,000	48,361,000	90,801,000	50,813,000	150,501,000
total shareholders’ equity																																													6,685,629,000			4,839,456,000	4,441,269,000	4,325,535,000	4,717,910,000	4,398,003,000	4,378,757,000	4,029,968,000	3,630,396,000	3,516,710,000	3,886,233,000	4,004,544,000	3,783,348,000	3,590,619,000	3,346,249,000	3,015,780,000	2,749,554,000		2,351,531,000	2,503,392,000	2,288,864,000	2,128,454,000	2,037,504,000	1,566,342,000
total liabilities, noncontrolling interests and shareholders’ equity																																													21,800,358,000
talf investments, at fair value																																																313,187,000	399,341,000
talf borrowings, at fair value																																																239,551,000	318,441,000
total liabilities and shareholders’ equity																																																17,812,783,000	17,213,806,000	17,191,966,000	17,701,397,000	16,777,399,000	16,935,106,000	16,641,935,000	16,092,287,000	16,093,048,000	16,281,502,000	16,354,475,000	14,961,871,000	14,312,467,000	13,953,876,000	13,087,713,000	12,361,140,000		10,926,753,000	9,128,644,000	8,615,677,000	7,658,528,000	6,916,133,000	4,203,006,000
non-cumulative preferred shares - series a and b																																																	325,000,000	325,000,000	325,000,000	325,000,000
fixed maturities available for sale, at market value																																																		9,033,408,000	9,810,102,000	9,428,456,000	9,295,680,000	8,944,110,000	8,540,653,000
short-term investments available for sale, at market value																																																		1,130,142,000	780,671,000	554,304,000	669,798,000	660,859,000	749,708,000
investment of funds received under securities lending agreements, at market value																																																		9,951,000	200,020,000	209,635,000	177,954,000	556,473,000	550,821,000
talf investments, at market value																																																		400,970,000	410,881,000	407,469,000	406,997,000
equity securities available for sale, at market value																																																		419,893,000
investment funds accounted for using the equity method																																																		395,258,000	432,418,000	408,402,000	405,584,000	370,165,000	293,452,000	384,139,000	351,879,000	294,379,000
fixed maturities and short-term investments pledged under securities lending agreements, at market value																																																		198,418,000	203,221,000	214,564,000	184,221,000	559,385,000	559,691,000
securities purchased under agreements to resell using funds received under securities lending agreements																																																		185,176,000
unpaid losses and loss adjustment expenses recoverable																																																		1,720,677,000	1,654,900,000	1,673,911,000	1,643,573,000	1,740,248,000	1,710,781,000	1,656,848,000	1,586,201,000	1,652,117,000	1,537,176,000	1,552,157,000	1,562,459,000	1,584,824,000	1,441,412,000	1,389,768,000	1,239,815,000	798,752,000	740,465,000	623,317,000	506,715,000	306,436,000
paid losses and loss adjustment expenses recoverable																																																		51,453,000	60,222,000	47,148,000	67,734,000	53,432,000	76,312,000	67,737,000	113,439,000	110,962,000	120,883,000	122,149,000	116,966,000	96,827,000	63,803,000		30,051,000	31,611,000	31,253,000	20,231,000	23,183,000	18,496,000
talf borrowings, at market value																																																		322,222,000	331,797,000	336,213,000	346,746,000
deferred income tax assets																																																						63,838,000	62,210,000	72,118,000	66,944,000	55,645,000	64,271,000	63,606,000	76,765,000	84,021,000	83,595,000		57,320,000	54,101,000	61,121,000	43,443,000	53,875,000
investment of funds received under securities lending agreements, at fair value																																																								933,797,000
fixed maturities and short-term investments pledged under securities lending agreements, at fair value																																																								905,546,000	890,822,000	1,190,086,000	1,120,957,000	860,803,000	815,268,000	741,901,000	858,283,000
short-term investment of funds received under securities lending agreements, at fair value																																																									918,207,000	1,228,868,000	1,160,098,000	891,376,000	844,430,000	762,226,000	882,950,000		954,684,000
-series a																																																									80,000
-series b																																																									50,000
funds held by reinsureds																																																										72,844,000	60,783,000	82,385,000	93,980,000	84,860,000	131,968,000		198,908,000	199,283,000	190,019,000	203,818,000	206,796,000	116,038,000
securities lending collateral																																																										1,228,868,000	1,160,098,000	891,376,000	844,430,000	762,226,000	882,950,000		954,684,000
- series a																																																										80,000			80,000	80,000
- series b																																																										50,000			50,000	50,000
— series a																																																											80,000
— series b																																																											50,000
—series a																																																												80,000
—series b																																																												50,000
deferred compensation under share award plan																																																																		-6,389,000
series a non-cumulative preferred shares																																																															80,000
balance sheet data:
total investments and cash																																																																7,148,963,000
reserves for losses and loss adjustment expenses:
before unpaid losses and loss adjustment expenses recoverable																																																																5,452,826,000
net of unpaid losses and loss adjustment expenses recoverable																																																																4,063,058,000
unearned premiums:
before prepaid reinsurance premiums																																																																1,699,691,000
net of prepaid reinsurance premiums																																																																1,377,256,000
book value:
per common share																																																																33,820
diluted																																																																33,820
shares outstanding:
basic																																																																73,334,870,000
privately held securities, at fair value																																																																	12,945,000	22,251,000
fixed maturities pledged under securities lending agreements																																																																	918,882,000
preference shares																																																																	373,000	373,000	373,000	373,000	384,000
privately held securities																																																																			22,692,000	23,292,000	24,229,000	28,606,000
accumulated other comprehensive (loss) income, net of deferred income tax
deferred income tax asset																																																																						13,937,000
investment accounts payable																																																																						5,658,000
preferred shares																																																																						388,000
accumulated other comprehensive income consisting of unrealized appreciation in value of investments, net of deferred income tax																																																																						68,339,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-09-30	2019-06-30	2019-03-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-06-30	2014-03-31	2013-03-31	2012-03-31	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2009-03-31	2008-09-30	2008-03-31	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-09-30

operating activities
net income	1,047,000,000	1,238,000,000	1,350,000,000	1,237,000,000	574,000,000	935,000,000	988,000,000	1,269,000,000	1,120,000,000	2,333,000,000	723,000,000	669,000,000	717,000,000	862,788,000	18,258,000	403,945,000	197,432,000	623,675,000	421,415,000	718,664,000	475,708,000	599,314,000	488,682,000	466,389,000	-88,674,000	399,189,000	485,845,000	495,498,000	248,766,000	256,347,000	166,384,000	201,792,000	-45,217,000	199,099,000	274,035,000	95,574,000	303,620,000	249,357,000	175,627,000	28,006,000	64,000,000	125,819,000	308,757,000	211,717,000	179,145,000	256,476,000	164,256,000	124,098,000	25,756,000	608,476,000	460,445,000	216,994,000	146,330,000	427,477,000	195,883,000	205,012,000	245,739,000	192,298,000	142,887,000	132,290,000	100,893,000	-86,291,000	125,992,000	115,892,000	18,029,000
adjustments to reconcile net income to net cash from operating activities:
net realized losses	91,000,000	-7,000,000	-202,000,000	-225,000,000	-6,000,000	176,000,000	-165,000,000																																	127,981,000														86,362,000		1,097,000				783,000	46,153,000			426,000
equity in net (income) or loss of investments accounted for using the equity method and other income or loss	-137,000,000	-194,000,000	-158,000,000	-95,000,000	-12,000,000
amortization of intangible assets	30,000,000	47,000,000	49,000,000	48,000,000	49,000,000	99,000,000	88,000,000	27,000,000	21,000,000	24,000,000	24,000,000	24,000,000	23,000,000	25,722,000	26,104,000	27,207,000	27,167,000	33,132,000	20,135,000	15,286,000	14,402,000	19,196,000	16,715,000	16,489,000	16,631,000	20,003,000	19,794,000	20,417,000	26,315,000	26,472,000	26,736,000	31,836,000	31,824,000	30,824,000	31,294,000
share-based compensation	82,000,000	24,000,000	25,000,000	25,000,000	74,000,000	33,000,000	16,000,000	16,000,000	68,000,000	20,000,000	15,000,000	17,000,000	41,000,000	7,599,000	13,511,000	21,139,000	45,379,000	14,791,000	14,739,000	16,752,000	40,812,000	14,829,000	14,521,000	13,363,000	28,549,000	12,895,000	15,646,000	25,891,000	10,387,000	20,755,000	14,664,000	9,490,000	15,569,000	27,082,000	15,657,000	10,270,000	10,542,000	21,504,000	14,265,000	9,521,000	10,531,000	22,806,000	13,238,000	21,452,000	14,175,000	11,543,000	7,411,000	19,505,000	5,628,000	25,450,000	19,376,000	7,096,000	4,318,000	24,303,000	4,600,000	4,306,000	5,638,000	4,111,000	4,211,000	3,299,000
changes in:
reserve for losses and loss adjustment expenses, net of unpaid losses and loss adjustment expenses recoverable	540,000,000	330,000,000	634,000,000	560,000,000	826,000,000	832,000,000	1,078,000,000	709,000,000	660,000,000	534,000,000	584,000,000	417,000,000	603,000,000	335,931,000	918,602,000	358,528,000	275,954,000	213,979,000	599,706,000	388,352,000	560,153,000	445,758,000	509,623,000	652,389,000	506,057,000	222,678,000	160,401,000	-6,005,000	146,136,000	-164,210,000	86,319,000	11,882,000	422,310,000	127,315,000	53,027,000		91,078,000	74,944,000	111,255,000		47,961,000	37,289,000	54,327,000	50,148,000	10,326,000	-22,182,000	39,343,000	286,223,000	155,477,000	212,024,000	162,604,000	91,247,000	83,763,000	432,217,000	182,498,000	147,462,000	163,719,000	210,111,000	217,527,000	256,469,000	204,546,000	481,861,000	251,176,000	250,323,000	410,823,000
unearned premiums, net of ceded unearned premiums	362,000,000	-606,000,000	-321,000,000	11,000,000	327,000,000	-324,000,000	77,000,000	216,000,000	663,000,000	-83,000,000	107,000,000	463,000,000	541,000,000	273,717,000	253,024,000	358,864,000	513,507,000	-49,203,000	146,592,000	278,615,000	560,035,000	-53,030,000	103,052,000	2,957,000	392,802,000	175,434,000	-18,829,000	156,393,000	42,675,000	-37,867,000	177,645,000	-113,740,000	63,517,000	7,821,000	159,243,000
premiums receivable	-820,000,000	731,000,000	601,000,000	-352,000,000	-942,000,000	686,000,000	178,000,000	-523,000,000	-1,159,000,000	352,000,000	315,000,000	-777,000,000	-871,000,000	-13,488,000	-9,951,000	-485,099,000	-600,691,000	161,884,000	-65,707,000	-173,141,000	-608,250,000	143,123,000	1,872,000	-45,181,000	-418,457,000	-26,715,000	-16,913,000	-285,137,000	33,703,000	-3,178,000	-233,772,000	135,738,000	55,355,000	-46,148,000	-176,350,000	127,296,000	79,905,000	-61,466,000	-217,348,000	81,958,000	97,901,000	-14,395,000	-192,247,000	-83,337,000	-242,616,000	-198,814,000									-148,197,000
deferred acquisition costs	-48,000,000	53,000,000	14,000,000	33,000,000	-14,000,000	-46,000,000	-86,000,000	2,000,000	-82,000,000	-45,000,000	-38,000,000	-77,000,000	-75,000,000	-131,690,000	-68,466,000	-76,912,000	-96,999,000	-15,277,000	-33,073,000	-88,192,000	-126,701,000	-36,710,000	-14,801,000	-17,302,000	-75,135,000	-13,816,000	-1,622,000	-23,168,000	-963,000	-4,764,000	-30,347,000	-4,747,000	-20,078,000	-11,825,000	-41,728,000	2,309,000	-7,456,000	-3,400,000	-30,050,000	12,714,000	-2,713,000	-2,705,000	-36,304,000	-13,834,000	-41,988,000	-45,159,000	277,861,000								-21,319,000		22,807,000
reinsurance balances payable	419,000,000	-319,000,000	-207,000,000	159,000,000	504,000,000	-410,000,000	-27,000,000	95,000,000	521,000,000	-237,000,000	40,000,000	373,000,000	279,000,000	-163,927,000	56,323,000	146,117,000	-74,022,000	-118,506,000	287,110,000	91,255,000	240,206,000	-139,670,000	73,459,000	52,354,000	79,807,000	75,487,000	76,810,000	62,605,000	-5,265,000	35,327,000	53,634,000	-28,999,000	-12,584,000	29,998,000	20,114,000	-17,656,000	-24,514,000	21,783,000	51,929,000	-10,127,000	-15,415,000	35,679,000	-16,022,000	60,375,000	5,428,000	17,365,000		15,987,000					11,278,000		19,677,000	91,498,000	-11,202,000	57,237,000	28,752,000	76,441,000		52,890,000
deferred income tax assets	20,000,000	19,000,000	46,000,000	80,000,000	29,000,000	-96,000,000	16,000,000	21,000,000	24,000,000																																																					1,507,000	1,496,000	3,646,000
other items	-398,000,000	88,000,000	355,000,000	-357,000,000	49,000,000	-160,000,000	17,000,000	-108,000,000	-108,000,000	224,000,000	-2,000,000	-102,000,000	-212,000,000	-170,782,000	-77,653,000	-172,679,000	-13,957,000	86,983,000	-196,052,000	-134,733,000	-96,574,000	7,444,000	194,732,000	31,058,000	-223,124,000	22,249,000	-109,194,000	-37,253,000	54,640,000	-113,933,000	56,143,000	-165,163,000	97,707,000	25,571,000	-51,985,000	-33,873,000	38,495,000	-55,194,000	46,664,000	-39,066,000	-19,651,000	121,265,000	-70,085,000	19,847,000	19,041,000	-3,179,000	22,573,000	74,776,000	42,701,000	17,299,000				79,229,000	-30,978,000	34,734,000									-2,134,000
net cash from operating activities	1,188,000,000	1,404,000,000	2,186,000,000	1,124,000,000	1,458,000,000	1,573,000,000	2,018,000,000	1,518,000,000	1,564,000,000	1,665,000,000	1,970,000,000	1,151,000,000	963,000,000	981,510,000	1,379,749,000	902,405,000	551,563,000	800,004,000	1,014,979,000	849,727,000	762,845,000	555,055,000	1,009,870,000	711,126,000	610,454,000	830,615,000	477,126,000	235,398,000	624,101,000	96,706,000	400,180,000	31,483,000	527,067,000	345,949,000	208,118,000	359,505,000	495,915,000	218,681,000	322,543,000	190,327,000	422,380,000	299,738,000	85,461,000	254,894,000	198,169,000	205,659,000	144,821,000	446,547,000	224,580,000	657,561,000	390,137,000	184,623,000	294,803,000	972,997,000	334,545,000	403,131,000	358,970,000	426,832,000	399,976,000	423,178,000	346,527,000			327,840,000
capital expenditures	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-10,268,000	-32,897,000	-4,978,000	-5,382,000	-3,742,000	0	0	0	0	0	0	0	0	-3,045,000	0	0	0	0	0	0			0
free cash flows	1,188,000,000	1,404,000,000	2,186,000,000	1,124,000,000	1,458,000,000	1,573,000,000	2,018,000,000	1,518,000,000	1,564,000,000	1,665,000,000	1,970,000,000	1,151,000,000	963,000,000	981,510,000	1,379,749,000	902,405,000	551,563,000	800,004,000	1,014,979,000	849,727,000	762,845,000	555,055,000	1,009,870,000	711,126,000	610,454,000	830,615,000	477,126,000	235,398,000	624,101,000	96,706,000	400,180,000	31,483,000	527,067,000	345,949,000	208,118,000	359,505,000	495,915,000	218,681,000	322,543,000	190,327,000	422,380,000	289,470,000	52,564,000	249,916,000	192,787,000	201,917,000	144,821,000	446,547,000	224,580,000	657,561,000	390,137,000	184,623,000	294,803,000	972,997,000	331,500,000	403,131,000	358,970,000	426,832,000	399,976,000	423,178,000	346,527,000			327,840,000
investing activities
purchases of fixed maturity investments	-9,288,000,000	-8,293,000,000	-10,619,000,000	-8,150,000,000	-9,418,000,000	-9,731,000,000	-7,436,000,000	-5,798,000,000	-8,325,000,000	-5,038,000,000	-4,184,000,000	-4,939,000,000	-3,901,000,000	-3,325,173,000	-3,359,345,000	-2,978,292,000	-6,727,665,000	-5,581,835,000	-6,315,639,000	-12,023,416,000	-11,530,968,000	-5,714,394,000	-8,640,034,000	-13,444,854,000	-11,965,995,000	-7,677,977,000	-8,888,176,000	-7,444,470,000	-7,970,347,000	-7,186,303,000	-9,681,267,000	-8,727,784,000	-8,179,803,000	-9,422,408,000	-10,476,918,000	-7,692,255,000	-10,298,824,000	-9,408,194,000	-8,133,537,000	-7,069,769,000	-7,740,713,000	-7,610,660,000	-7,030,731,000												-3,772,652,000
purchases of equity securities	-185,000,000	-184,000,000	-277,000,000	-179,000,000	-808,000,000	-491,000,000	-278,000,000	-145,000,000	-509,000,000	-280,000,000	-72,000,000	-96,000,000	-8,000,000	-10,265,000	-131,160,000	-246,958,000	-408,615,000	-196,529,000	-358,177,000	-311,355,000	-309,419,000	-239,162,000	-330,699,000	-264,466,000	-760,683,000	-92,112,000	-228,129,000	-203,810,000	-139,679,000	-302,663,000	-377,000,000	-353,881,000	-266,980,000	-256,322,000	-143,833,000	-287,935,000	-165,089,000	-84,415,000	-128,263,000	-29,887,000	-196,991,000	-162,672,000	-125,863,000
purchases of other investments	-499,000,000	-493,000,000	-513,000,000	-535,000,000	-697,000,000	-1,587,000,000	-529,000,000	-875,000,000	-494,000,000	-1,059,000,000	-555,000,000	-291,000,000	-266,000,000	-450,358,000	-349,715,000	-303,725,000	-616,659,000	-509,040,000	-316,922,000	-602,173,000	-430,961,000	-966,841,000	-340,194,000	-273,221,000	-228,471,000	-337,862,000	-352,470,000	-324,593,000	-526,185,000	-494,693,000	-522,454,000	-614,096,000	-522,824,000	-456,665,000	-427,039,000	-380,632,000	-358,161,000	-345,415,000	-305,198,000	-429,275,000	-46,470,000	-588,283,000	-685,497,000												-146,815,000
proceeds from sales of fixed maturity investments	7,984,000,000	7,055,000,000	8,435,000,000	6,522,000,000	7,301,000,000	9,798,000,000	5,227,000,000	3,691,000,000	7,529,000,000	4,450,000,000	2,576,000,000	4,045,000,000	3,034,000,000	1,853,586,000	1,911,450,000	2,025,616,000	6,053,352,000	3,509,653,000	6,937,404,000	12,213,254,000	10,917,134,000	5,404,479,000	7,711,837,000	13,109,907,000	11,723,123,000	7,075,372,000	8,555,892,000	7,076,590,000	7,219,660,000	7,411,396,000	8,679,147,000	8,057,305,000	8,017,794,000	9,224,934,000	10,386,746,000	7,828,042,000	9,753,375,000	9,151,013,000	7,827,536,000	6,682,493,000	7,056,035,000	7,498,060,000	6,857,459,000										3,377,680,000	11,014,920,000	3,523,338,000	4,326,607,000	3,531,987,000	2,887,666,000	3,319,331,000	4,121,591,000	3,995,867,000	3,983,562,000	646,860,000	548,030,000
proceeds from sales of equity securities	202,000,000	183,000,000	281,000,000	223,000,000	820,000,000	428,000,000	126,000,000	482,000,000	65,000,000	72,000,000	55,000,000	86,000,000	75,000,000	14,308,000	49,596,000	389,956,000	1,100,256,000	222,512,000	153,343,000	257,304,000	284,986,000	415,471,000	151,447,000	314,045,000	266,301,000	194,429,000	81,684,000	95,017,000	244,851,000	330,757,000	291,311,000	304,528,000	278,809,000	219,717,000	253,347,000	286,824,000	127,285,000	121,607,000	216,012,000	55,003,000	236,665,000	146,437,000	125,906,000
proceeds from sales, redemptions and maturities of other investments	240,000,000	759,000,000	336,000,000	431,000,000	660,000,000	834,000,000	405,000,000	503,000,000	116,000,000	423,000,000	144,000,000	105,000,000	96,000,000	145,393,000	212,346,000	292,992,000	570,341,000	277,614,000	715,370,000	448,958,000	323,591,000	237,771,000	319,619,000	256,057,000	216,131,000	292,819,000	318,215,000	216,483,000	404,737,000	336,732,000	436,566,000	590,036,000	324,087,000	296,976,000	317,518,000	269,998,000	242,795,000	425,410,000	211,125,000	392,515,000	-220,307,000	473,412,000	605,263,000
proceeds from redemptions and maturities of fixed maturity investments	957,000,000	693,000,000	475,000,000	568,000,000	758,000,000	766,000,000	392,000,000	515,000,000	363,000,000	192,000,000	221,000,000	188,000,000	180,000,000	136,655,000	133,791,000	203,320,000	240,753,000	394,343,000	428,576,000	384,794,000	421,042,000	225,842,000	276,052,000	170,884,000	198,356,000	149,770,000	144,525,000	100,424,000	212,573,000	224,417,000	287,031,000	159,796,000	299,680,000	273,223,000	174,718,000	214,184,000	169,843,000	207,086,000	163,894,000	118,132,000	155,413,000	202,327,000	272,657,000	263,556,000	168,484,000	181,727,000	261,660,000	537,410,000	253,898,000	683,826,000	456,937,000	212,625,000	168,758,000	444,681,000	136,932,000	183,984,000	142,780,000	274,842,000	12,966,000	83,394,000	103,971,000	118,579,000	89,030,000	74,943,000
net settlements of derivative instruments	-26,000,000	35,000,000	35,000,000	147,000,000	93,000,000	-132,000,000	115,000,000	7,000,000	5,000,000	119,000,000	-115,000,000	32,000,000	14,000,000	37,529,000	-61,509,000	-42,328,000	-2,510,000	27,758,000	-85,116,000	-30,374,000	47,660,000	15,716,000	12,819,000	-45,017,000	195,488,000	4,722,000	57,964,000	29,737,000	-3,733,000	-31,572,000	36,070,000	-7,611,000	-14,968,000	-2,063,000	-3,921,000	-40,464,000	-21,778,000	24,083,000	21,091,000	-86,170,000
net (purchases) sales of short-term investments	-11,000,000	-272,000,000	478,000,000	-242,000,000	294,000,000	549,000,000	-793,000,000	65,000,000	-90,000,000	-373,000,000	10,000,000	-125,000,000	-208,000,000	619,229,000	288,012,000	70,760,000	-510,752,000	1,338,070,000	-794,712,000	-967,261,000	589,175,000	129,670,000	164,012,000	-1,311,586,000	-11,777,000						595,318,000	230,099,000	-519,450,000	-47,352,000	-397,851,000		-299,702,000	-238,866,000	-65,594,000						156,262,000
purchases of fixed assets	-8,000,000	-11,000,000	-12,000,000	-12,000,000	-9,000,000	-13,000,000	-12,000,000	-11,000,000	-15,000,000	-15,000,000	-11,000,000	-15,000,000	-11,000,000	-13,289,000	-14,553,000	-12,060,000	-11,770,000	-6,987,000	-10,822,000	-11,095,000	-12,490,000	-13,155,000	-9,030,000	-9,217,000	-8,470,000	-11,276,000	-6,936,000	-9,423,000	-5,808,000	-9,002,000	-4,240,000	-5,979,000	-5,759,000	-5,909,000	-5,194,000	-3,738,000	-3,281,000	-4,332,000	-3,952,000	-4,835,000
other	-5,000,000	111,000,000	-2,000,000	-1,000,000	-2,000,000	-1,000,000	-32,000,000	57,000,000	-54,000,000			5,000,000	-1,000,000	-2,949,000	29,968,000	97,836,000	550,000	-162,007,000	-156,968,000	41,701,000	-246,590,000	69,795,000	-140,671,000	-33,821,000	42,500,000	-28,375,000	-80,847,000	-93,731,000	8,266,000	9,924,000	40,037,000	24,325,000	99,937,000	-33,395,000	19,603,000	-31,428,000	35,336,000	-31,338,000	29,115,000	-92,376,000	-4,555,000	25,239,000	29,779,000	3,006,000	1,700,000	1,084,000	588,000	3,181,000	714,000	8,950,000	7,357,000	5,061,000
net cash from investing activities	-639,000,000	-417,000,000	-1,383,000,000	-1,228,000,000	-1,008,000,000	420,000,000	-1,963,000,000	-1,509,000,000	-1,409,000,000	-1,532,000,000	-1,935,000,000	-1,005,000,000	-996,000,000	-995,334,000	-1,291,119,000	-502,883,000	-312,719,000	-686,448,000	-359,606,000	-600,489,000	-493,189,000	-434,808,000	-798,228,000	-1,531,694,000	-278,496,000	-503,532,000	-452,151,000	-294,793,000	-492,482,000	160,313,000	-57,914,000	-479,414,000	-544,187,000	-214,517,000	-121,878,000	-1,466,435,000	-899,440,000	-122,401,000	-233,267,000	-413,125,000	-461,596,000	-83,773,000	44,619,000	-910,841,000	-41,226,000	-210,432,000	3,381,000							1,431,000	152,040,000
financing activities
purchases of common shares under share repurchase program	-783,000,000	-798,000,000	-732,000,000	-163,000,000	-196,000,000									0	-10,147,000	-320,688,000	-254,988,000	-362,097,000	-386,882,000	-306,049,000	-179,266,000	-7,986,000	0	0	-75,486,000	0	0	-2,871,000	-10,954,000	-170,276,000	-3,299,000					0	0	0	-75,256,000	0	-3,506,000	-198,979,000	-162,898,000			-40,964,000									-189,843,000
proceeds from common shares issued	-17,000,000	30,000,000	1,000,000	47,000,000	-28,000,000	9,000,000	6,000,000	24,000,000	-32,000,000	-7,000,000			-18,000,000	9,523,000	1,202,000	13,195,000	-17,260,000	6,137,000	96,000	10,193,000	-10,008,000	11,532,000	5,000	-5,134,000	-4,527,000	1,075,000	1,344,000	-1,901,000	1,822,000	-11,072,000	-2,779,000	-13,564,000	-646,000	-2,848,000	-3,990,000	1,367,000	-2,298,000	-1,689,000	202,000	4,164,000	-1,481,000	2,590,000	-412,000	-500,000	3,021,000	1,280,000	780,000	1,478,000	2,875,000	22,956,000	14,370,000	10,591,000		11,384,000	2,540,000	3,145,000					10,281,000	5,067,000	3,450,000	2,898,000	1,685,000
common dividends paid	-5,000,000	0	0	-2,000,000	-5,000,000
preferred dividends paid	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-10,184,000	-10,184,000	-10,184,000	-10,184,000	-10,184,000	-17,291,000	-10,402,000	-10,403,000	-10,403,000	-10,403,000	-10,403,000	-10,403,000	-10,403,000	-10,403,000	-10,403,000	-10,402,000	-10,403,000	-10,437,000	-11,105,000	-12,369,000	-11,349,000	-11,218,000	-11,617,000	-5,484,000	-5,485,000	-5,484,000	-5,485,000	-5,484,000	-5,485,000	-5,484,000	-5,485,000	-5,484,000	-5,484,000									-6,461,000
net cash from financing activities	-827,000,000	-778,000,000	-743,000,000	-128,000,000	-241,000,000	-1,890,000,000	-7,000,000	14,000,000	-42,000,000	-17,000,000	-7,000,000	-15,000,000	-30,000,000	-1,849,000	-21,761,000	-448,543,000	-233,573,000	-347,670,000	-904,294,000	209,017,000	-186,602,000	-44,812,000	-105,247,000	805,833,000	-134,496,000	-37,411,000	-50,604,000	41,519,000	-3,715,000	-394,124,000	-338,905,000	191,509,000	132,876,000	-100,121,000	-227,669,000	1,381,878,000	467,176,000	-126,412,000	-86,973,000	129,438,000	172,540,000	-168,332,000	-138,302,000	10,513,000	978,364,000	-3,065,000									-467,959,000	223,286,000	49,745,000	77,300,000	-1,120,000	194,238,000	-51,137,000			2,125,000
effects of exchange rate changes on foreign currency cash and restricted cash	-8,000,000	4,000,000	-14,000,000	55,000,000	16,000,000	-55,000,000	37,000,000	4,000,000	-11,000,000	27,000,000	-26,000,000	7,000,000	5,000,000	30,677,000	-36,776,000	-38,866,000	-3,924,000	-24,000	-20,633,000	-7,306,000	-6,084,000	28,136,000	15,895,000	8,981,000	-30,723,000	-10,272,000	-1,512,000	3,449,000	-1,194,000	-12,042,000	1,611,000
increase in cash and restricted cash	-286,000,000	213,000,000	46,000,000	-177,000,000	225,000,000	48,000,000	85,000,000	27,000,000	102,000,000	143,000,000	2,000,000	138,000,000	-58,000,000	15,004,000	30,093,000	-87,887,000	1,347,000	-234,138,000	-269,554,000	450,949,000	76,970,000	103,571,000	122,290,000	-5,754,000	166,739,000	279,400,000	-27,141,000	-14,427,000	126,710,000	-149,147,000	4,972,000
cash and restricted cash, beginning of year	2,067,000,000	0	0	0	1,760,000,000	0	0	0	1,498,000,000	0	0	0	1,273,000,000	0	0	0	1,314,771,000	0	0	0	1,290,544,000	0	0	0	903,698,000	0	0	724,643,000	0	0	727,284,000
cash and restricted cash, end of period	1,781,000,000		46,000,000	-177,000,000	1,985,000,000		85,000,000	27,000,000	1,600,000,000		2,000,000	138,000,000	1,215,000,000		30,093,000	-87,887,000	1,316,118,000		-269,554,000	450,949,000	1,367,514,000		122,290,000	-5,754,000	1,070,437,000	279,400,000	-27,141,000	710,216,000	126,710,000	-149,147,000	732,256,000
income taxes paid	22,000,000	143,000,000	166,000,000	131,000,000	18,000,000	157,000,000	76,000,000	151,000,000	-6,000,000																							3,874,000	43,972,000	3,224,000	711,000	9,879,000	14,123,000	24,115,000	2,504,000	4,813,000	9,468,000	22,423,000	3,569,000										2,231,000	12,357,000	2,510,000	596,000	8,521,000	3,039,000	22,816,000	9,591,000	2,991,000	2,141,000	19,162,000	15,796,000	2,641,000
interest paid		63,000,000	0			64,000,000	0																									52,761,000	6,578,000	52,206,000	5,829,000	28,054,000	3,710,000	27,711,000	3,813,000	27,533,000	119,000	24,565,000	511,000										184,000	11,983,000			10,983,000	0	11,025,000	42,000	11,138,000	0	11,083,000	58,000	106,000
acquisitions, net of cash						0																										0				-1,971,809,000
third party investment in redeemable noncontrolling interests																																												32,340,000	186,893,000
cash and restricted cash, end of year
equity in net (income) or loss of investment funds accounted for using the equity method and other income or loss							-162,000,000	-62,000,000	-112,000,000		-55,000,000	17,000,000	-66,000,000		62,590,000	55,235,000	-11,420,000		-191,622,000	-45,089,000	-135,939,000
change in third party investment in redeemable noncontrolling interests											0
net realized (gains) losses									-52,000,000	-185,000,000	257,000,000	127,000,000	-17,000,000	-91,112,000	187,407,000	266,060,000	289,213,000	-60,054,000	11,736,000	-218,042,000	-161,007,000	-366,942,000	-282,907,000	-557,740,000	362,964,000	-64,760,000	-118,893,000	-145,400,000	47,315,000	75,447,000	101,995,000	-32,573,000			-40,855,000		-135,775,000	-83,303,000	-43,034,000														5,620,000		-33,791,000
purchase of operating affiliate																		0	-207,567,000	0	-546,349,000
impact of the deconsolidation of the variable interest entity																		0
proceeds from issuance of preferred shares																		0	0													97,640,000				0
redemption of preferred shares																		0											0	0	-92,555,000	0
third party investment in non-redeemable noncontrolling interests																			0	0	15,971,000		0	0	-2,867,000																			0	796,903,000
dividends paid to redeemable noncontrolling interests																		0	0	-959,000	-948,000	-1,404,000	-1,001,000	-1,359,000	-1,181,000	-2,414,000	-4,497,000	-4,497,000	-4,497,000	-4,497,000	-4,497,000	-4,498,000	-4,497,000	-4,497,000	-4,497,000	-4,498,000	-4,497,000	-4,497,000	-4,497,000	-4,497,000	-4,497,000	-4,497,000	-4,816,000
change in cash collateral related to securities lending																						0	26,614,000	-405,000	55,001,000	-600,000	37,208,000	-29,618,000	-39,231,000	14,737,000	161,567,000	-136,152,000	-27,001,000	-5,253,000	180,946,000	-127,313,000	-9,220,000	24,403,000	-43,118,000	-35,347,000	47,014,000	-12,800,000	-5,529,000
proceeds from borrowings																						0	13,875,000	988,618,000	16,300,000	137,283,000	3,800,000	59,000,000	36,680,000	90,994,000	39,585,000	14,500,000				1,340,741,000	0			192,285,000										264,526,000	264,526,000	214,526,000
repayments of borrowings																						-55,000,000	-139,000,000			0	-1,500,000	-26,038,000	-54,000,000	-272,000,000	-101,000,000	-25,000,000	-100,000,000	-50,000,000	-22,000,000	-40,000,000	0	-105,000,000	-74,171,000
equity in net income or loss of investments accounted for using the equity method and other income or loss
change in third party investment in non-redeemable noncontrolling interests
arch capital																						80,000	-102,010,000	102,010,000	10,000	102,009,000	-102,009,000	102,019,000			102,018,000
equity in net income or loss of investment funds accounted for using the equity method and other income or loss																							-95,078,000	96,350,000	29,034,000	6,808,000	-15,968,000	-29,752,000	19,900,000	5,840,000	-19,383,000		-16,255,000	-11,388,000	-36,141,000		-3,004,000	7,918,000	3,243,000		14,332,000	-8,379,000	-1,970,000	-9,694,000	9,559,000	23,052,000
net impairment losses recognized in earnings																										1,163,000	49,000	1,309,000	492,000	470,000	162,000	1,723,000	1,878,000	1,730,000	1,807,000	13,593,000	3,867,000	5,343,000	7,639,000	7,336,000	5,868,000	1,113,000	5,799,000	14,749,000	2,971,000	2,246,000	1,023,000	4,364,000	2,680,000	8,091,000	6,016,000	1,606,000	36,134,000
net sales of short-term investments																										-72,442,000	-91,081,000	292,601,000													178,034,000														74,201,000										-49,120,000
net sales (purchases) of short-term investments																													102,414,000														66,283,000													188,663,000
reconciliation of cash and restricted cash within the consolidated balance sheets:
cash																															680,891,000
restricted cash																															51,365,000
cash and restricted cash																															732,256,000
equity in net income or loss of investment funds accounted for using theequity method and other income or loss
proceeds from investment in joint venture																																								0	0
effects of exchange rate changes on foreign currency cash																																260,000	6,285,000	5,255,000	2,241,000	-10,822,000	-1,426,000	-11,238,000	2,332,000	-3,093,000	-8,619,000	6,429,000	-6,468,000	2,272,000	241,000	-6,436,000	4,183,000	6,403,000	5,406,000				3,580,000		139,000	513,000	-456,000	1,217,000
increase in cash																																-256,162,000	122,041,000	36,566,000	-139,188,000	264,126,000	62,225,000	-41,370,000	4,635,000	-96,453,000	124,705,000	54,062,000	-14,690,000	-643,162,000	1,135,548,000	-14,274,000	71,107,000	48,261,000	44,137,000	31,426,000	6,898,000	4,137,000			18,765,000				118,467,000	25,429,000	60,718,000	-258,000
cash beginning of year																																0	0	0	842,942,000	0	0	0	553,326,000	0	0	0	485,702,000	0	434,057,000	371,041,000	351,699,000	362,740,000	362,740,000	334,571,000	334,571,000	334,571,000	251,739,000	239,915,000	239,915,000	317,017,000	0	0	0	222,477,000	0	0	0	113,052,000	0
cash end of year
non-cash consideration paid in convertible non-voting common equivalent preferred shares
cash end of period																																	122,041,000	36,566,000	703,754,000		62,225,000	-41,370,000	557,961,000		124,705,000	54,062,000	471,012,000	-643,162,000	1,569,605,000	356,767,000	422,806,000	411,001,000	406,877,000	365,997,000	341,469,000	338,708,000	244,037,000	239,097,000	258,680,000	225,249,000		-178,234,000	118,467,000	247,906,000		-258,000	75,294,000	86,723,000	-95,358,000
reserve for losses and loss adjustment expenses, net of unpaid lossesand loss adjustment expenses recoverable
other liabilities																																				82,473,000	83,282,000	23,617,000	32,697,000	38,585,000	101,479,000	-45,985,000	-48,856,000	-16,152,000	59,285,000	23,811,000	10,134,000	6,753,000	33,366,000	8,143,000		41,448,000	2,802,000	50,421,000	40,490,000	1,296,000	-13,396,000	22,315,000	-4,129,000	22,460,000			-3,633,000	2,238,000	43,842,000
change in other assets																																				-42,089,000	-17,232,000	6,679,000	6,737,000	6,661,000
unearned premiums, net of prepaid reinsurance premiums																																					55,875,000	17,578,000	169,656,000	-108,536,000	35,289,000	142,000	156,731,000	64,776,000	205,210,000	200,004,000	181,735,000	194,123,000	130,136,000	105,905,000	96,881,000	96,645,000	120,867,000	33,870,000	105,497,000	127,107,000		-13,289,000	4,119,000	113,179,000	33,287,000	39,031,000	-17,928,000	103,071,000	7,819,000
see notes to consolidated financial statements																																					0	0	10,000
purchase of business, net of cash acquired																																								0	0	3,250,000	-2,432,000	0	-235,578,000
purchase price
cash paid
contingent consideration liability
total purchase price
assets acquired
investments, at fair value
intangible asset -- acquired insurance contracts
intangible asset -- operating platform
intangible asset -- favorable lease contract
intangible asset -- insurance licenses
other assets acquired
total assets acquired
liabilities acquired
reserves for losses and loss adjustment expenses
unearned premiums
intangible liability -- unfavorable service contract
other liabilities acquired
total liabilities acquired
net assets acquired
goodwill
balance, beginning of period																																									5,286,000	20,513,000	769,081,000
sale of shares to noncontrolling interests
amounts attributable to noncontrolling interests																																									-25,907,000	-15,227,000	20,513,000
foreign currency translation adjustments
balance, end of period																																									-20,718,000	5,286,000	789,594,000
net realized gains																																										27,089,000	-87,907,000	-65,153,000	-22,367,000	-59,504,000
purchases of furniture, equipment and other assets																																										-10,268,000	-32,897,000	-4,978,000	-5,382,000	-3,742,000
purchases of:
fixed maturity investments																																												-7,180,677,000	-7,131,071,000	-3,970,320,000	3,628,932,000	7,622,120,000	3,376,248,000	13,984,442,000	9,111,774,000	4,443,108,000
equity securities																																												-85,460,000	-89,227,000	-63,353,000	75,860,000	199,650,000	52,316,000
other investments																																												-718,533,000	-304,454,000	-250,442,000	111,149,000	201,680,000	84,920,000	301,808,000	213,814,000	101,235,000
proceeds from the sales of:
change in investment of securities lending collateral																																												14,032,000	4,669,000	-41,019,000	6,322,000			9,705,000		30,092,000	179,191,000	553,396,000
change in securities lending collateral																																												-14,032,000	-4,669,000	41,019,000		77,051,000	125,904,000		680,000				274,855,000	268,722,000				10,429,000
net purchases of short-term investments																																														-221,444,000
proceeds from issuance of series c preferred shares
repurchase of series a and b preferred shares
numerator:
preferred dividends
loss on repurchase of preferred shares
net income available to common shareholders
denominator:
weighted-average common shares outstanding — basic
effect of dilutive common share equivalents:
nonvested restricted shares
stock options
weighted-average common shares and common share equivalents outstanding — diluted
earnings per common share:
basic
diluted
equity in net income of investment funds accounted for using the equity method and other income																																																18,590,000
december 31, 2010
other assets																																															475,911,000
retained earnings																																															4,422,553,000
three months ended march 31, 2011
other operating expenses																																															102,420,000								-73,637,000
income tax benefit
net income per common share - basic																																															140
net income per common share - diluted																																															140
net cash used by investing activities
gross premiums written																																																635,005,000	634,583,000	624,490,000	616,353,000	633,576,000	638,409,000	678,338,000	626,348,000	661,210,000
net premiums written																																																438,263,000	449,291,000	431,361,000	422,837,000	452,924,000	441,586,000	466,115,000	402,764,000	428,344,000
net premiums earned																																																410,819,000	407,591,000	411,881,000	405,473,000	429,477,000	401,097,000	441,049,000	419,100,000	413,847,000
fee income																																																702,000	778,000	864,000	874,000	753,000	870,000	872,000	882,000	1,425,000
losses and loss adjustment expenses																																																							-287,303,000
acquisition expenses																																																							-51,889,000
underwriting income																																																-33,429,000		2,947,000	-6,033,000	-29,932,000	11,421,000		7,153,000	40,361,000
net investment income
equity in net income of investment funds accounted for using the equity method
other income
other incomes
interest expense
net foreign exchange gains
income before income taxes
underwriting ratios
loss ratio																																																73,400	73,000	64,400	67,900	72,600	67,300	76,500	68,600	62,700
acquisition expense ratio																																																16,000	14,900	16,100	15,900	15,500	14,100	14,000	12,200	11,100
other operating expense ratio																																																18,700	18,300	18,700	17,700	18,800	15,700	16,300	17,600	16,600
combined ratio																																																108,100	106,200	99,200	101,500	106,900	97,100	106,800	98,400	90,400
underwriting loss																																																	-25,506,000					-30,148,000
net foreign exchange losses
income tax expense
equity in net (income) loss of investment funds accounted for using the equity method and other income																																																					10,428,000		18,277,000
proceeds from sales of other investments																																																					24,027,000	235,712,000	65,226,000	54,754,000				5,359,000
excess tax benefits from share-based compensation																																																					742,000	1,778,000	660,000	2,355,000	1,742,000	563,000	693,000	2,450,000
other income and equity in net (income) loss of investment funds accounted for using the equity method
investment in joint venture
purchases of furniture, equipment and other																																																							-3,045,000
revolving credit agreement borrowings																																																						100,000,000
decrease in cash
funds held by reinsureds																																																							1,908,000	21,602,000	11,595,000	-9,120,000	47,108,000	35,771,000	31,169,000	375,000	-9,264,000	19,927,000	2,978,000
proceeds from preferred shares issued, net of issuance costs																																																									0	-150,000
other (income) loss
paid losses and loss adjustment expenses recoverable																																																												17,145,000
proceeds from sale of other investments																																																									8,863,000	267,000
proceeds from sale of companies, net of cash
proceeds from common shares issued, net of repurchases																																																									7,518,000	953,000	2,522,000	8,690,000
proceeds from issuance of senior notes, net of issuance costs
repayment of credit agreement borrowings
basic earnings per common share:
divided by:
weighted-average common shares outstanding
basic earnings per common share
diluted earnings per common share:
effect of dilutive securities:
series a convertible preference shares
warrants
total shares
diluted earnings per share
change in short-term investment of funds received under securities lending agreements, at fair value																																																										-82,204,000
net income, as reported																																																										-212,283,000	10,100,000	115,892,000
total share-based employee compensation expense under fair value method, net of income taxes
pro forma net income																																																										-212,506,000	10,058,000	114,815,000
earnings per share – basic:
as reported																																																										-6,130	280	3,370
pro forma																																																										-6,130	270	3,340
earnings per share – diluted:
deposit accounting liabilities																																																												6,542,000		-555,000	2,134,000	4,180,000	13,782,000
net proceeds from preferred shares issued																																																												193,527,000
declaration of preferred dividends to be paid																																																												2,667,000
other loss																																																																	-95,000
non-cash compensation																																																													1,732,000	2,413,000	1,978,000	2,095,000
excess of fair value of net assets acquired over cost
accrued investment income																																																														7,193,000	-6,232,000	185,000
investment of securities lending collateral
proceeds (cost) of sold/acquired companies, net of cash
proceeds from issuance of senior notes																																																																	0
proceeds from (repayment of) credit agreement borrowings
securities lending collateral received																																																													-61,305,000
repurchase of common shares
sales of equity securities																																																														10,715,000			2,289,000
repayment of revolving credit agreement borrowings
net cash provided by operating activities
net cash used for investing activities
net cash provided by financing activities
sales of privately held securities																																																																1,786,000
increase (decrease) in cash
deferred income tax asset
sales of fixed maturity investments																																																																	1,289,628,000
(repayment of) proceeds from revolving credit agreement borrowings
provision for non-cash compensation
net realized investment gains
net unrealized foreign exchange gains
loan to chairman
release of escrowed assets
debt retirement and other

Arch Capital Group Ltd(NASDAQ:ACGL)

Arch Capital Group Ltd
(NASDAQ:ACGL)