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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 828,954 $ (80,486) $ 610,754
Adjustments to reconcile net income to net cash provided by operating activities:      
Decrease (increase) in premiums receivable (153,694) (235,560) 132,986
Decrease (increase) in funds held by reinsureds, net 42,298 18,236 1,573
Decrease (increase) in reinsurance receivables (55,274) 97,549 (62,954)
Decrease (increase) in current income taxes (26,831) 82,702 (9,951)
Decrease (increase) in deferred tax asset 64,909 (194,029) 22,023
Decrease (increase) in prepaid reinsurance premiums 16,358 46,374 (25,281)
Increase (decrease) in reserve for losses and loss adjustment expenses (169,595) 826,230 420,748
Increase (decrease) in future policy benefit reserve (1,080) 4,185 (1,534)
Increase (decrease) in unearned premiums (98,418) (39,822) 36,883
Increase (decrease) in other net payables to reinsurers 100,566 4,911 (4,982)
Increase (decrease) in losses in course of payment 173,232 18,477 (41,539)
Change in equity adjustments in limited partnerships (63,779) (56,549) (71,493)
Change in other assets and liabilities, net 76,788 108,611 (47,804)
Non-cash compensation expense 31,984 17,693 14,786
Amortization of bond premium (accrual of bond discount) 61,844 47,872 46,095
Amortization of underwriting discount on senior notes 52 49 76
Net realized capital (gains) losses (164,400) (6,923) (101,911)
Net cash provided by (used in) operating activities 663,914 659,520 918,475
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from fixed maturities matured/called - available for sale, at market value 1,830,582 1,702,973 1,717,659
Proceeds from fixed maturities matured/called - available for sale, at fair value 1,300 12,775  
Proceeds from fixed maturities sold - available for sale, at market value 913,139 1,732,246 1,632,719
Proceeds from fixed maturities sold - available for sale, at fair value 84,917 65,158 20,237
Proceeds from equity securities sold - available for sale, at market value 280,807 27,207 3,037
Proceeds from equity securities sold - available for sale, at fair value 558,740 247,227 234,112
Distributions from other invested assets 84,454 166,273 79,849
Cost of fixed maturities acquired - available for sale, at market value (3,328,409) (3,238,113) (2,766,212)
Cost of fixed maturities acquired - available for sale, at fair value (7,955) (27,481) (134,324)
Cost of equity securities acquired - available for sale, at market value (26,571) (127,837) (353,265)
Cost of equity securities acquired - available for sale, at fair value (426,507) (755,734) (514,092)
Cost of other invested assets acquired (58,369) (64,832) (66,408)
Cost of businesses acquired   (63,100)  
Net change in short-term investments (175,043) 100,969 (110,241)
Net change in unsettled securities transactions 35,085 13,563 (13,084)
Net cash provided by (used in) investing activities (233,830) (208,706) (270,013)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Common shares issued during the period, net 21,473 12,269 3,066
Purchase of treasury shares (289,988) (92,490) (398,554)
Revolving credit borrowings   (50,000) 50,000
Net cost of senior notes maturing     (200,000)
Dividends paid to shareholders (100,402) (103,848) (108,477)
Net cash provided by (used in) financing activities (368,917) (234,069) (653,965)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 27,232 (26,502) 16,313
Net increase (decrease) in cash 88,399 190,243 10,810
Cash, beginning of period 448,651 258,408 247,598
Cash, end of period 537,050 448,651 258,408
SUPPLEMENTAL CASH FLOW INFORMATION:      
Income taxes paid (recovered) 59,754 (44,537) (30,978)
Interest paid 53,008 51,647 60,198
Non-cash transaction:      
Net assets acquired and liabilities assumed from business acquisitions   19,130  
Conversion of equity securities - available for sale, at market value, to fixed maturity securities - available for sale, at market value, including accrued interest at time of conversion $ 92,981