Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA



	Year Ended December 31,
(In thousands, except per share data)	2018			2017			2016			2015			2014
Net premiums written	$	6,433,227		$	6,260,508		$	6,423,913		$	6,189,515		$	5,996,947
Net premiums earned	6,371,505			6,311,419			6,293,348			6,040,609			5,744,418
Net investment income	674,235			575,788			564,163			512,645			600,885
Net realized and unrealized gains on investments	154,488			335,858			267,005			92,324			254,852
Revenues from non-insurance businesses	372,985			326,165			390,348			421,102			410,022
Insurance service fees	117,757			134,729			138,944			139,440			117,443
Total revenues	7,691,651			7,684,764			7,654,184			7,206,457			7,128,928
Interest expense	157,185			147,297			140,896			130,946			128,174
Income before income taxes	812,094			772,770			896,438			732,030			952,196
Income tax expense	(163,028		)	(219,433		)	(292,953		)	(227,923		)	(302,593		)
Noncontrolling interests	(8,317		)	(4,243		)	(1,569		)	(413		)	(719		)
Net income to common stockholders	640,749			549,094			601,916			503,694			648,884
Data per common share:
Net income per basic share	5.06			4.40			4.91			4.06			5.07
Net income per diluted share	5.00			4.26			4.68			3.87			4.86
Common stockholders’ equity	44.57			44.53			41.65			37.31			36.21
Cash dividends declared	2.09			1.55			1.51			0.47			1.43
Weighted average shares outstanding:
Basic	126,699			124,843			122,651			124,040			127,874
Diluted	128,264			129,018			128,553			130,189			133,652
Investments	$	17,723,089		$	17,450,508		$	16,649,792		$	15,351,467		$	15,591,824
Total assets	24,895,977			24,299,917			23,364,844			21,730,967			21,716,691
Reserves for losses and loss expenses	11,966,448			11,670,408			11,197,195			10,669,150			10,369,701
Senior notes and other debt	1,882,028			1,769,052			1,760,595			1,844,621			2,115,527
Subordinated debentures	907,491			728,218			727,630			340,320			340,060
Common stockholders’ equity	5,437,851			5,411,344			5,047,208			4,600,246			4,589,945

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