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Consolidated Statements of Earnings and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Revenues    
Net premiums earned $ 1,075,013 $ 434,207
Net investment income 118,811 53,194
Net realized capital gains 50,902 67,989
Other than temporary impairment losses (32,312) (1,778)
Gain on bargain purchase   494,940
Other income 11,141 315
Total revenues 1,223,555 1,048,867
Costs and Expenses    
Net loss and loss adjustment expenses 567,413 233,946
Commissions, brokerage and other underwriting expenses 326,227 99,860
Other operating expenses 30,738 15,652
Corporate administration 12,422 47,293
Amortization of intangible assets 11,630 31,939
Interest expense 21,736 9,077
Total costs and expenses 970,166 437,767
Earnings before income taxes 253,389 611,100
Income taxes 57,095 50,997
Net earnings 196,294 560,103
Other comprehensive income:    
Change in unrealized gains (losses), net of deferred taxes of $45,877 and $20,145 for 2013 and 2012, respectively 85,200 37,412
Less: reclassification for net realized capital gains and other than temporary impairment losses, net of taxes of $(6,507) and $(23,174) for 2013 and 2012, respectively (12,084) (43,037)
Change in unrealized currency translation adjustment, net of deferred taxes of $(5,366) and $1,730 for 2013 and 2012, respectively (9,966) 3,213
Retirement plans (154) (760)
Comprehensive income $ 259,290 $ 556,931
Basic earnings per share $ 11.67 $ 51.17
Diluted earnings per share $ 11.67 $ 51.06