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Investments - Cost (amortized cost for fixed maturities and short-term investments), fair value, gross unrealized gains, gross unrealized (losses), and OTTI recorded in AOCI (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2014
Dec. 31, 2013
AFS securities    
Cost or amortized cost of Fixed maturities $ 26,485,164 $ 27,111,874
Gross unrealized gains on Fixed maturities 943,348 807,684
Gross unrealized losses on Fixed maturities (288,688) (419,422)
Fixed maturities, at fair value 27,139,824 27,500,136
Gross Unrealized Losses Non-credit related OTTI (83,472) [1] (86,882) [1]
Short-term investments, amortized cost 382,509 455,470
Short-term investments, gross unrealized gains 181 [2] 962 [3]
Short-term investments, gross unrealized losses (577) [2] (144) [3]
Short-term investments, at fair value 382,113 456,288
Cost of equity securities 907,952 903,201
Equity securities, gross unrealized gains 166,197 [4] 154,506 [5]
Equity securities, gross unrealized losses (18,756) [4] (17,470) [5]
Equity securities, at fair value 1,055,393 1,040,237
Available for sale securities, Cost or amortized cost 27,775,625 28,470,545
Available for sale securities, Gross unrealized gains 1,109,726 963,152
Available for sale securities, Gross unrealized losses 308,021 437,036
Total investments available for sale 28,577,330 28,996,661
Fixed maturities - HTM    
Fixed maturities, held to maturity 2,854,487 2,858,695
Fixed maturites held to maturity, gross unrealized gains 354,878 274,150
Fixed maturites held to maturity, gross unrealized losses (190) (1,610)
Fair value of held to maturity securities 3,209,175 3,131,235
U.S. Government and Government - Related/Supported
   
AFS securities    
Cost or amortized cost of Fixed maturities 2,282,321 2,484,193
Gross unrealized gains on Fixed maturities 59,678 [2] 51,701 [3]
Gross unrealized losses on Fixed maturities (22,947) [2] (34,043) [3]
Fixed maturities, at fair value 2,319,052 [2] 2,501,851
Gross Unrealized Losses Non-credit related OTTI 0 [1],[2] 0 [1],[3]
Fixed maturities - HTM    
Fixed maturities, held to maturity 11,052 [2] 10,993
Fixed maturites held to maturity, gross unrealized gains 918 [2] 629 [3]
Fixed maturites held to maturity, gross unrealized losses 0 [2] 0 [3]
Fair value of held to maturity securities 11,970 11,622
Corporate
   
AFS securities    
Cost or amortized cost of Fixed maturities 10,697,760 10,802,332
Gross unrealized gains on Fixed maturities 490,229 [6],[7] 433,097 [8],[9]
Gross unrealized losses on Fixed maturities (79,484) [6],[7] (109,599) [8],[9]
Fixed maturities, at fair value 11,108,505 11,125,830
Gross Unrealized Losses Non-credit related OTTI (4,758) [1],[6],[7] (4,758) [1],[8],[9]
Fixed maturities - HTM    
Fixed maturities, held to maturity 1,376,931 1,386,863
Fixed maturites held to maturity, gross unrealized gains 135,909 113,179
Fixed maturites held to maturity, gross unrealized losses (190) (968)
Fair value of held to maturity securities 1,512,650 1,499,074
RMBS - Agency
   
AFS securities    
Cost or amortized cost of Fixed maturities 3,186,504 3,540,101
Gross unrealized gains on Fixed maturities 74,788 68,098
Gross unrealized losses on Fixed maturities (38,809) (62,077)
Fixed maturities, at fair value 3,222,483 3,546,122
Gross Unrealized Losses Non-credit related OTTI 0 [1] 0 [1]
RMBS - Non-Agency
   
AFS securities    
Cost or amortized cost of Fixed maturities 389,181 396,798
Gross unrealized gains on Fixed maturities 36,836 33,096
Gross unrealized losses on Fixed maturities (24,624) (31,126)
Fixed maturities, at fair value 401,393 398,768
Gross Unrealized Losses Non-credit related OTTI (71,999) [1] (74,528) [1]
Fixed maturities - HTM    
Fixed maturities, held to maturity 67,037 66,987
Fixed maturites held to maturity, gross unrealized gains 6,743 4,985
Fixed maturites held to maturity, gross unrealized losses 0 0
Fair value of held to maturity securities 73,780 71,972
CMBS
   
AFS securities    
Cost or amortized cost of Fixed maturities 1,172,597 1,223,313
Gross unrealized gains on Fixed maturities 36,282 39,255
Gross unrealized losses on Fixed maturities (10,567) (15,773)
Fixed maturities, at fair value 1,198,312 1,246,795
Gross Unrealized Losses Non-credit related OTTI (2,662) [1] (2,753) [1]
Fixed maturities - HTM    
Fixed maturities, held to maturity 145,005 144,924
Fixed maturites held to maturity, gross unrealized gains 15,215 11,864
Fixed maturites held to maturity, gross unrealized losses 0 0
Fair value of held to maturity securities 160,220 156,788
CDO
   
AFS securities    
Cost or amortized cost of Fixed maturities 758,469 754,414
Gross unrealized gains on Fixed maturities 3,649 5,833
Gross unrealized losses on Fixed maturities (37,058) (42,934)
Fixed maturities, at fair value 725,060 717,313
Gross Unrealized Losses Non-credit related OTTI (1,936) [1] (2,036) [1]
Other asset-backed securities
   
AFS securities    
Cost or amortized cost of Fixed maturities 1,156,561 1,210,384
Gross unrealized gains on Fixed maturities 46,219 [10] 40,560 [11]
Gross unrealized losses on Fixed maturities (6,468) [10] (8,840) [11]
Fixed maturities, at fair value 1,196,312 1,242,104
Gross Unrealized Losses Non-credit related OTTI (2,117) [1],[10] (2,807) [1],[11]
Fixed maturities - HTM    
Fixed maturities, held to maturity 106,514 106,540
Fixed maturites held to maturity, gross unrealized gains 9,437 [10] 6,908 [11]
Fixed maturites held to maturity, gross unrealized losses 0 [10] 0 [11]
Fair value of held to maturity securities 115,951 113,448
U.S. States and political subdivisions of the States
   
AFS securities    
Cost or amortized cost of Fixed maturities 1,832,247 1,821,499
Gross unrealized gains on Fixed maturities 84,695 55,083
Gross unrealized losses on Fixed maturities (14,491) (30,770)
Fixed maturities, at fair value 1,902,451 1,845,812
Gross Unrealized Losses Non-credit related OTTI 0 [1] 0 [1]
Non-U.S. Sovereign Government, Provincial, Supranational, and Government-Related/Supported
   
AFS securities    
Cost or amortized cost of Fixed maturities 5,009,524 4,878,840
Gross unrealized gains on Fixed maturities 110,972 [2] 80,961 [3]
Gross unrealized losses on Fixed maturities (54,240) [2] (84,260) [3]
Fixed maturities, at fair value 5,066,256 [2] 4,875,541
Gross Unrealized Losses Non-credit related OTTI 0 [1],[2] 0 [1],[3]
Fixed maturities - HTM    
Fixed maturities, held to maturity 1,147,948 [2] 1,142,388
Fixed maturites held to maturity, gross unrealized gains 186,656 [2] 136,585 [3]
Fixed maturites held to maturity, gross unrealized losses 0 [2] (642) [3]
Fair value of held to maturity securities $ 1,334,604 $ 1,278,331
[1] Represents the non-credit component of OTTI losses, adjusted for subsequent sales of securities. It does not include the change in fair value subsequent to the impairment measurement date.
[2] U.S. Government and Government-Related/Supported, Non-U.S. Sovereign Government, Provincials, Supranationals and Government-Related/Supported and Total short-term investments includes government-related securities with an amortized cost of $2,301.8 million and fair value of $2,365.0 million and U.S. Agencies with an amortized cost of $238.0 million and fair value of $261.5 million.
[3] U.S. Government and Government-Related/Supported, Non-U.S. Sovereign Government, Provincials, Supranationals and Government-Related/Supported and Total short-term investments includes government-related securities with an amortized cost of $2,241.5 million and fair value of $2,275.6 million and U.S. Agencies with an amortized cost of $267.0 million and fair value of $284.3 million.
[4] Included within Total equity securities are investments in fixed income funds with a fair value of $89.1 million and an amortized cost of $100.9 million.
[5] Included within Total equity securities are investments in fixed income funds with a fair value of $87.4 million and an amortized cost of $100.0 million.
[6] Included within Corporate are Tier One and Upper Tier Two securities, representing committed term debt and hybrid instruments, which are senior to the common and preferred equities of the financial institutions. These securities have a fair value of $279.8 million and an amortized cost of $281.3 million.
[7] Included within Corporate are certain medium term notes supported primarily by pools of European investment grade credit with varying degrees of leverage. The notes have a fair value of $154.7 million and an amortized cost of $146.2 million. These notes allow the investor to participate in cash flows of the underlying bonds including certain residual values, which could serve to either decrease or increase the ultimate values of these notes.
[8] Included within Corporate are Tier One and Upper Tier Two securities, representing committed term debt and hybrid instruments, which are senior to the common and preferred equities of the financial institutions. These securities have a fair value of $282.2 million and an amortized cost of $286.2 million.
[9] Included within Corporate are certain medium term notes supported primarily by pools of European investment grade credit with varying degrees of leverage. The notes have a fair value of $154.6 million and an amortized cost of $147.7 million. These notes allow the investor to participate in cash flows of the underlying bonds including certain residual values, which could serve to either decrease or increase the ultimate values of these notes.
[10] Covered Bonds within Fixed maturities - AFS with an amortized cost of $508.3 million and a fair value of $537.5 million and Covered Bonds within Fixed maturities - HTM with an amortized cost of $8.6 million and a fair value of $8.9 million are included within Other asset-backed securities to align the Company's classification to market indices.
[11] Covered Bonds within Fixed maturities - AFS with an amortized cost of $526.4 million and a fair value of $553.1 million and Covered Bonds within Fixed maturities - HTM with an amortized cost of $8.6 million and a fair value of $8.7 million are included within Other asset-backed securities to align the Company's classification to market indices.