Reserve for Loss and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2012

Insurance [Abstract]

Schedule of liability for unpaid claims and claims adjustment expense

Our reserve for loss and loss adjustment expenses comprise the following:

December 31,	2012		2011
Reserve for reported loss and loss adjustment expenses	$	1,029,594	$	820,795
Reserve for losses incurred but not reported	710,687		577,643
Reserve for loss and loss adjustment expenses	$	1,740,281	$	1,398,438

10. Reserve for Loss and Loss Adjustment Expenses (continued)

The following table represents a reconciliation of our beginning and ending net losses and loss expense reserves:

For the Year Ended December 31,	2012			2011			2010
Gross unpaid loss and loss adjustment expenses reserves at beginning of period	$	1,398,438		$	1,226,773		$	1,002,676
Less: reinsurance recoverable on unpaid losses at beginning of period	20,289			6,656			8,340
Net loss and loss adjustment expense reserves at beginning of period	1,378,149			1,220,117			994,336
Net incurred losses related to:
Current year	1,239,016			1,028,855			787,967
Prior years	23,332			14,199			(32,845		)
	1,262,348			1,043,054			755,122
Net paid losses related to:
Current year	(485,015		)	(456,149		)	(365,343		)
Prior years	(530,294		)	(423,855		)	(265,991		)
	(1,015,309		)	(880,004		)	(631,334		)
Acquired loss and loss expense reserve	—			450			102,020
Effect of foreign exchange movements	4,235			(5,468		)	(27		)
Net loss and loss adjustment expense reserves at end of period	1,629,423			1,378,149			1,220,117
Reinsurance recoverable on unpaid losses at end of period	110,858			20,289			6,656
Gross unpaid loss and loss adjustment expenses reserves at end of period	$	1,740,281		$	1,398,438		$	1,226,773