Reserves For Losses And Loss Expenses (Tables)

12 Months Ended

Dec. 31, 2013

Insurance [Abstract]

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense

The table below provides a reconciliation of the beginning and ending reserve balances:

(In thousands)	2013			2012			2011
Net reserves at beginning of year	$	8,411,851		$	8,172,112		$	7,999,521
Net provision for losses and loss expenses:
Claims occuring during the current year(1)	3,221,393			2,997,995			2,791,860
Decrease in estimates for claims occurring in prior years(2)(3)	(78,810		)	(102,571		)	(181,282		)
Loss reserve discount accretion	54,441			53,055			47,787
Total	3,197,024			2,948,479			2,658,365
Net payments for claims:
Current year	822,787			698,834			765,440
Prior year	2,055,284			2,010,101			1,721,558
Total	2,878,071			2,708,935			2,486,998
Foreign currency translation	(47,007		)	195			1,224
Net reserves at end of year	8,683,797			8,411,851			8,172,112
Ceded reserve at end of year	1,397,144			1,339,235			1,165,022
Gross reserves at end of year	$	10,080,941		$	9,751,086		$	9,337,134

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(1) Claims occurring during the current year are net of loss reserve discounts of $22,680,000, $26,078,000 and $43,286,000 in 2013, 2012 and 2011, respectively.

(2) The decrease in estimates for claims occurring in prior years is net of loss reserve discount. On an undiscounted basis, the estimates for claims occurring in prior years decreased by $77,430,000, $100,667,000 and $182,937,000 in 2013, 2012 and 2011, respectively.

(3) For certain retrospectively rated insurance polices and reinsurance agreements, reserve development is offset by additional or return premiums. Favorable reserve development, net of additional and return premiums, was $98 million, $103 million and $182 million in 2013, 2012 and 2011, respectively.