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Consolidated Statements of Earnings and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenues      
Net premiums earned $ 3,733,005 $ 747,639 $ 768,134
Net investment income 312,998 108,910 125,012
Net realized capital gains 157,879 127,141 97,374
Other than temporary impairment losses (2,907) (3,607) (12,356)
Gain on bargain purchase 494,940    
Other income 57,297 1,754 7,188
Total revenues 4,753,212 981,837 985,352
Costs and Expenses      
Net loss and loss adjustment expenses 2,630,170 429,986 377,937
Commissions, brokerage and other underwriting expenses 882,502 [1] 268,125 [1] 259,335 [1]
Other operating expenses 123,700 31,101 33,803
Corporate administration 75,842 41,007 28,854
Amortization of intangible assets 253,298 3,355 3,354
Interest expense 68,424 17,426 4,698
Total costs and expenses 4,033,936 791,000 707,981
Earnings before income taxes 719,276 190,837 277,371
Income taxes 17,032 47,586 78,869
Net earnings 702,244 143,251 198,502
Other comprehensive income:      
Change in unrealized gains (losses), net of deferred taxes of $112,301, $37,139 and $66,873 for 2012, 2011 and 2010, respectively 208,560 68,973 124,192
Less: reclassification for net realized capital gains and other than temporary impairment losses, net of taxes of $54,240, $43,237 and $29,756 for 2012, 2011 and 2010, respectively (100,732) (80,297) (55,262)
Change in unrealized currency translation adjustment, net of deferred taxes of $7,200, $0 and $0 for 2012, 2011 and 2010, respectively (13,371)    
Retirement plans 520 (3,407) 7,287
Comprehensive income $ 797,221 $ 128,520 $ 274,719
Basic earnings per share $ 45.48 [2] $ 16.26 [2] $ 21.85 [2]
Diluted earnings per share $ 45.48 [2] $ 16.20 [2] $ 21.85 [2]
[1] Includes amortization associated with deferred acquisition costs of $578.1 million, $141.4 million and $143.8 million for the years ended December 31, 2012, 2011 and 2010, respectively.
[2] Amounts reflect subsequent common stock dividends