Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA



	Year Ended December 31,
(In thousands, except per share data)	2016			2015			2014			2013			2012
Net premiums written	$	6,423,913		$	6,189,515		$	5,996,947		$	5,500,173		$	4,898,539
Net premiums earned	6,293,348			6,040,609			5,744,418			5,226,537			4,673,516
Net investment income	564,163			512,645			600,885			544,291			586,763
Insurance service fees	138,944			139,440			117,443			107,513			103,133
Net investment gains	267,005			92,324			254,852			121,544			210,465
Revenues from non-insurance businesses	390,348			421,102			410,022			407,623			247,113
Total revenues	7,654,184			7,206,457			7,128,928			6,408,534			5,823,554
Interest expense	140,896			130,946			128,174			123,177			126,302
Income before income taxes	896,438			732,030			952,196			698,888			701,928
Income tax expense	(292,953		)	(227,923		)	(302,593		)	(193,587		)	(191,285		)
Noncontrolling interests	(1,569		)	(413		)	(719		)	(5,376		)	(51		)
Net income to common stockholders	601,916			503,694			648,884			499,925			510,592
Data per common share:
Net income per basic share	4.91			4.06			5.07			3.69			3.72
Net income per diluted share	4.68			3.87			4.86			3.55			3.56
Common stockholders’ equity	41.65			37.31			36.21			32.79			31.66
Cash dividends declared	1.51			0.47			1.43			0.39			1.35
Weighted average shares outstanding:
Basic	122,651			124,040			127,874			135,305			137,097
Diluted	128,553			130,189			133,652			140,743			143,315
Investments	$	16,649,792		$	15,351,467		$	15,591,824		$	14,548,630		$	14,467,440
Total assets	23,364,844			21,730,967			21,716,691			20,155,896			20,155,896
Reserves for losses and loss expenses	11,197,195			10,669,150			10,369,701			10,080,941			9,751,086
Senior notes and other debt	1,760,595			1,844,621			2,115,527			1,692,442			1,871,535
Subordinated debentures	727,630			340,320			340,060			339,800			243,206
Common stockholders’ equity	5,047,208			4,600,246			4,589,945			4,336,035			4,306,217

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