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Consolidated Statements of Earnings and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues        
Net premiums earned $ 1,092,775 $ 190,209 $ 2,622,914 $ 555,067
Net investment income 90,514 22,050 234,568 82,174
Net realized capital gains 12,388 22,706 119,829 63,888
Other than temporary impairment losses   (2,756) (2,907) (2,756)
Gain on bargain purchase     494,940  
Other income 33,843 321 43,434 1,454
Total revenues 1,229,520 232,530 3,512,778 699,827
Costs and Expenses        
Net loss and loss adjustment expenses 672,984 121,777 1,587,815 315,418
Commissions, brokerage and other underwriting expenses 253,756 68,239 592,809 198,899
Other operating expenses 47,432 1,757 97,910 18,998
Corporate administration 9,304 2,649 67,691 14,030
Amortization of intangible assets 73,356 838 213,393 2,516
Interest expense 21,764 4,329 46,584 13,049
Total costs and expenses 1,078,596 199,589 2,606,202 562,910
Earnings before income taxes 150,924 32,941 906,576 136,917
Income taxes 25,480 13,783 111,720 31,337
Net earnings 125,444 19,158 794,856 105,580
Other comprehensive income:        
Change in unrealized gains (losses), net of deferred taxes of $92,641 and $(71,817) for the three months ended 2012 and 2011, respectively, and $127,043 and $(31,522) for the nine months ended 2012 and 2011, respectively 172,048 (133,375) 235,937 (58,540)
Less: reclassification for net realized capital gains and other than temporary impairment losses, net of taxes of $(4,336) and $(6,983) for the three months ended 2012 and 2011, respectively, and $(40,923) and $(21,396) for the nine months ended 2012 and 2011, respectively (8,052) (12,968) (75,999) (39,736)
Change in unrealized currency translation adjustment, net of deferred taxes of $5,931 and $0 for the three months ended 2012 and 2011, respectively, and $(352) and $0 for the nine months ended 2012 and 2011, respectively 11,014   (653)  
Retirement plans (25) (50) (799) (229)
Comprehensive income $ 300,429 $ (127,235) $ 953,342 $ 7,075
Basic earnings per share $ 7.41 $ 2.17 $ 53.19 $ 11.89
Diluted earnings per share $ 7.41 $ 2.03 $ 53.14 $ 11.76