Shareholders' equity increased to $14.2 billion at June 30, 2024, from $13.2 billion at December 31, 2023, driven by net income, partially offset by unrealized depreciation, shareholder dividends, treasury share purchases and net foreign currency translation adjustments.

The company repurchased 264,009 of its shares at a cost of $100 million in the open market during the six months ended June 30, 2024. This indicates a continued focus on returning capital to shareholders.

The company's Board of Directors declared an increase in the quarterly common stock dividend from $1.75 to $2.00 per share. This indicates management's confidence in the company's financial performance and cash flow generation.

The company acknowledges that financial results are affected by catastrophic events, which can lead to volatility in financial performance. This is a recurring risk for insurance/reinsurance companies.

The company acknowledges that economic and legal sanctions against Russia and related parties have impacted economic and investment markets. This highlights the potential for geopolitical risks to affect the company's investments and operations.

The company states that the worldwide insurance and reinsurance businesses are highly competitive and cyclical, which can lead to fluctuating financial results. This indicates ongoing pressure on pricing and profitability.

The company had $1.1 billion of net pre-tax unrealized depreciation related to fixed maturity - available for sale securities. This is due to changes in interest rates and non-issuer-specific credit spreads.