Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA



	Year Ended December 31,
(In thousands, except per share data)	2017			2016			2015			2014			2013
Net premiums written	$	6,260,508		$	6,423,913		$	6,189,515		$	5,996,947		$	5,500,173
Net premiums earned	6,311,419			6,293,348			6,040,609			5,744,418			5,226,537
Net investment income	575,788			564,163			512,645			600,885			544,291
Net investment gains	335,858			267,005			92,324			254,852			121,544
Revenues from non-insurance businesses	326,165			390,348			421,102			410,022			407,623
Insurance service fees	134,729			138,944			139,440			117,443			107,513
Total revenues	7,684,764			7,654,184			7,206,457			7,128,928			6,408,534
Interest expense	147,297			140,896			130,946			128,174			123,177
Income before income taxes	772,770			896,438			732,030			952,196			698,888
Income tax expense	(219,433		)	(292,953		)	(227,923		)	(302,593		)	(193,587		)
Noncontrolling interests	(4,243		)	(1,569		)	(413		)	(719		)	(5,376		)
Net income to common stockholders	549,094			601,916			503,694			648,884			499,925
Data per common share:
Net income per basic share	4.40			4.91			4.06			5.07			3.69
Net income per diluted share	4.26			4.68			3.87			4.86			3.55
Common stockholders’ equity	44.53			41.65			37.31			36.21			32.79
Cash dividends declared	1.55			1.51			0.47			1.43			0.39
Weighted average shares outstanding:
Basic	124,843			122,651			124,040			127,874			135,305
Diluted	129,018			128,553			130,189			133,652			140,743
Investments	$	17,450,508		$	16,649,792		$	15,351,467		$	15,591,824		$	14,548,630
Total assets	24,299,917			23,364,844			21,730,967			21,716,691			20,551,796
Reserves for losses and loss expenses	11,670,408			11,197,195			10,669,150			10,369,701			10,080,941
Senior notes and other debt	1,769,052			1,760,595			1,844,621			2,115,527			1,692,442
Subordinated debentures	728,218			727,630			340,320			340,060			339,800
Common stockholders’ equity	5,411,344			5,047,208			4,600,246			4,589,945			4,336,035

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