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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
Jun. 30, 2014
May 01, 2014
Dec. 31, 2013
AFS securities      
Cost or amortized cost of Fixed maturities $ 29,065,531   $ 27,111,874
Gross unrealized gains on Fixed maturities     807,684
Gross unrealized losses on Fixed maturities     (419,422)
Fixed maturities, at fair value 30,442,921   27,500,136
Gross Unrealized Losses Non-credit related OTTI (81,834)   (86,882) [1]
Short-term investments, amortized cost 347,473   455,470
Short-term investments, gross unrealized gains 972 [2]   962 [3]
Short-term investments, gross unrealized losses (771) [2]   (144) [3]
Short-term investments, at fair value 347,674   456,288
Cost of equity securities 839,716   903,201
Equity securities, gross unrealized gains 151,618 [4]   154,506 [5]
Equity securities, gross unrealized losses (2,624) [4]   (17,470) [5]
Equity securities, at fair value 988,710   1,040,237
Available for sale securities, Cost or amortized cost 30,252,720   28,470,545
Available for sale securities, Gross unrealized gains 1,695,830   963,152
Available for sale securities, Gross unrealized losses (169,245)   (437,036)
Total investments available for sale 31,779,305   28,996,661
Fixed maturities - HTM      
Fixed maturities, held to maturity 0   2,858,695
Fixed maturites held to maturity, gross unrealized gains 0 424,861 274,150
Fixed maturites held to maturity, gross unrealized losses 0 0 (1,610)
Fair value of held to maturity securities 0   3,131,235
U.S. Government and Government - Related/Supported
     
AFS securities      
Cost or amortized cost of Fixed maturities     2,484,193
Gross unrealized gains on Fixed maturities     51,701 [3]
Gross unrealized losses on Fixed maturities     (34,043) [3]
Fixed maturities, at fair value     2,501,851
Gross Unrealized Losses Non-credit related OTTI     0 [1],[3]
Fixed maturities - HTM      
Fixed maturities, held to maturity 0   10,993
Fixed maturites held to maturity, gross unrealized gains     629 [3]
Fixed maturites held to maturity, gross unrealized losses     0 [3]
Fair value of held to maturity securities     11,622
Corporate
     
AFS securities      
Cost or amortized cost of Fixed maturities     10,802,332
Gross unrealized gains on Fixed maturities     433,097 [6],[7]
Gross unrealized losses on Fixed maturities     (109,599) [6],[7]
Fixed maturities, at fair value     11,125,830
Gross Unrealized Losses Non-credit related OTTI     (4,758) [1],[6],[7]
Fixed maturities - HTM      
Fixed maturities, held to maturity     1,386,863
Fixed maturites held to maturity, gross unrealized gains     113,179
Fixed maturites held to maturity, gross unrealized losses     (968)
Fair value of held to maturity securities     1,499,074
RMBS - Agency
     
AFS securities      
Cost or amortized cost of Fixed maturities     3,540,101
Gross unrealized gains on Fixed maturities     68,098
Gross unrealized losses on Fixed maturities     (62,077)
Fixed maturities, at fair value     3,546,122
Gross Unrealized Losses Non-credit related OTTI     0 [1]
RMBS - Non-Agency
     
AFS securities      
Cost or amortized cost of Fixed maturities     396,798
Gross unrealized gains on Fixed maturities     33,096
Gross unrealized losses on Fixed maturities     (31,126)
Fixed maturities, at fair value     398,768
Gross Unrealized Losses Non-credit related OTTI     (74,528) [1]
Fixed maturities - HTM      
Fixed maturities, held to maturity 0   66,987
Fixed maturites held to maturity, gross unrealized gains     4,985
Fixed maturites held to maturity, gross unrealized losses     0
Fair value of held to maturity securities     71,972
CMBS
     
AFS securities      
Cost or amortized cost of Fixed maturities     1,223,313
Gross unrealized gains on Fixed maturities     39,255
Gross unrealized losses on Fixed maturities     (15,773)
Fixed maturities, at fair value     1,246,795
Gross Unrealized Losses Non-credit related OTTI     (2,753) [1]
Fixed maturities - HTM      
Fixed maturities, held to maturity 0   144,924
Fixed maturites held to maturity, gross unrealized gains     11,864
Fixed maturites held to maturity, gross unrealized losses     0
Fair value of held to maturity securities     156,788
CDO
     
AFS securities      
Cost or amortized cost of Fixed maturities     754,414
Gross unrealized gains on Fixed maturities     5,833
Gross unrealized losses on Fixed maturities     (42,934)
Fixed maturities, at fair value     717,313
Gross Unrealized Losses Non-credit related OTTI     (2,036) [1]
Other asset-backed securities
     
AFS securities      
Cost or amortized cost of Fixed maturities     1,210,384
Gross unrealized gains on Fixed maturities     40,560 [8]
Gross unrealized losses on Fixed maturities     (8,840) [8]
Fixed maturities, at fair value     1,242,104
Gross Unrealized Losses Non-credit related OTTI     (2,807) [1],[8]
Fixed maturities - HTM      
Fixed maturities, held to maturity 0   106,540
Fixed maturites held to maturity, gross unrealized gains     6,908 [8]
Fixed maturites held to maturity, gross unrealized losses     0 [8]
Fair value of held to maturity securities     113,448
U.S. States and political subdivisions of the States
     
AFS securities      
Cost or amortized cost of Fixed maturities     1,821,499
Gross unrealized gains on Fixed maturities     55,083
Gross unrealized losses on Fixed maturities     (30,770)
Fixed maturities, at fair value     1,845,812
Gross Unrealized Losses Non-credit related OTTI     0 [1]
Non-U.S. Sovereign Government, Provincial, Supranational, and Government-Related/Supported
     
AFS securities      
Cost or amortized cost of Fixed maturities     4,878,840
Gross unrealized gains on Fixed maturities     80,961 [3]
Gross unrealized losses on Fixed maturities     (84,260) [3]
Fixed maturities, at fair value     4,875,541
Gross Unrealized Losses Non-credit related OTTI     0 [1],[3]
Fixed maturities - HTM      
Fixed maturities, held to maturity 0   1,142,388
Fixed maturites held to maturity, gross unrealized gains     136,585 [3]
Fixed maturites held to maturity, gross unrealized losses     (642) [3]
Fair value of held to maturity securities     1,278,331
Excluding Life Funds Withheld Assets
     
AFS securities      
Cost or amortized cost of Fixed maturities 24,226,460    
Gross unrealized gains on Fixed maturities 937,940    
Gross unrealized losses on Fixed maturities (165,850)    
Fixed maturities, at fair value 24,998,550    
Gross Unrealized Losses Non-credit related OTTI (81,834) [1]    
Available for sale securities, Cost or amortized cost 25,413,649    
Available for sale securities, Gross unrealized gains 1,090,530    
Available for sale securities, Gross unrealized losses (169,245)    
Total investments available for sale 26,334,934    
Excluding Life Funds Withheld Assets | U.S. Government and Government - Related/Supported
     
AFS securities      
Cost or amortized cost of Fixed maturities 2,033,152    
Gross unrealized gains on Fixed maturities 60,408 [2]    
Gross unrealized losses on Fixed maturities (9,266) [2]    
Fixed maturities, at fair value 2,084,294    
Gross Unrealized Losses Non-credit related OTTI 0 [1],[2]    
Excluding Life Funds Withheld Assets | Corporate
     
AFS securities      
Cost or amortized cost of Fixed maturities 9,345,654    
Gross unrealized gains on Fixed maturities 425,093 [10],[9]    
Gross unrealized losses on Fixed maturities (43,123) [10],[9]    
Fixed maturities, at fair value 9,727,624    
Gross Unrealized Losses Non-credit related OTTI (4,758) [1],[10],[9]    
Excluding Life Funds Withheld Assets | RMBS - Agency
     
AFS securities      
Cost or amortized cost of Fixed maturities 3,218,551    
Gross unrealized gains on Fixed maturities 104,874    
Gross unrealized losses on Fixed maturities (20,379)    
Fixed maturities, at fair value 3,303,046    
Gross Unrealized Losses Non-credit related OTTI 0 [1]    
Excluding Life Funds Withheld Assets | RMBS - Non-Agency
     
AFS securities      
Cost or amortized cost of Fixed maturities 395,629    
Gross unrealized gains on Fixed maturities 41,054    
Gross unrealized losses on Fixed maturities (21,180)    
Fixed maturities, at fair value 415,503    
Gross Unrealized Losses Non-credit related OTTI (70,645) [1]    
Excluding Life Funds Withheld Assets | CMBS
     
AFS securities      
Cost or amortized cost of Fixed maturities 1,098,149    
Gross unrealized gains on Fixed maturities 33,562    
Gross unrealized losses on Fixed maturities (7,424)    
Fixed maturities, at fair value 1,124,287    
Gross Unrealized Losses Non-credit related OTTI (2,561) [1]    
Excluding Life Funds Withheld Assets | CDO
     
AFS securities      
Cost or amortized cost of Fixed maturities 763,146    
Gross unrealized gains on Fixed maturities 3,656    
Gross unrealized losses on Fixed maturities (28,729)    
Fixed maturities, at fair value 738,073    
Gross Unrealized Losses Non-credit related OTTI (1,812) [1]    
Excluding Life Funds Withheld Assets | Other asset-backed securities
     
AFS securities      
Cost or amortized cost of Fixed maturities 1,271,201    
Gross unrealized gains on Fixed maturities 42,158 [11]    
Gross unrealized losses on Fixed maturities (3,087) [11]    
Fixed maturities, at fair value 1,310,272    
Gross Unrealized Losses Non-credit related OTTI (2,058) [1],[11]    
Excluding Life Funds Withheld Assets | U.S. States and political subdivisions of the States
     
AFS securities      
Cost or amortized cost of Fixed maturities 1,836,889    
Gross unrealized gains on Fixed maturities 109,258    
Gross unrealized losses on Fixed maturities (6,557)    
Fixed maturities, at fair value 1,939,590    
Gross Unrealized Losses Non-credit related OTTI 0 [1]    
Excluding Life Funds Withheld Assets | Non-U.S. Sovereign Government, Provincial, Supranational, and Government-Related/Supported
     
AFS securities      
Cost or amortized cost of Fixed maturities 4,264,089    
Gross unrealized gains on Fixed maturities 117,877 [2]    
Gross unrealized losses on Fixed maturities (26,105) [2]    
Fixed maturities, at fair value 4,355,861    
Gross Unrealized Losses Non-credit related OTTI 0 [1],[2]    
Life Funds Withheld Assets
     
AFS securities      
Cost or amortized cost of Fixed maturities 4,839,071    
Gross unrealized gains on Fixed maturities 605,300    
Gross unrealized losses on Fixed maturities 0    
Fixed maturities, at fair value 5,444,371   0
Gross Unrealized Losses Non-credit related OTTI 0    
Life Funds Withheld Assets | U.S. Government and Government - Related/Supported
     
AFS securities      
Cost or amortized cost of Fixed maturities 16,356    
Gross unrealized gains on Fixed maturities 1,869    
Gross unrealized losses on Fixed maturities 0    
Fixed maturities, at fair value 18,225    
Gross Unrealized Losses Non-credit related OTTI 0    
Life Funds Withheld Assets | Corporate
     
AFS securities      
Cost or amortized cost of Fixed maturities 2,722,907    
Gross unrealized gains on Fixed maturities 294,539    
Gross unrealized losses on Fixed maturities 0    
Fixed maturities, at fair value 3,017,446    
Gross Unrealized Losses Non-credit related OTTI 0    
Life Funds Withheld Assets | RMBS - Agency
     
AFS securities      
Cost or amortized cost of Fixed maturities 3,990    
Gross unrealized gains on Fixed maturities 33    
Gross unrealized losses on Fixed maturities 0    
Fixed maturities, at fair value 4,023    
Gross Unrealized Losses Non-credit related OTTI 0    
Life Funds Withheld Assets | RMBS - Non-Agency
     
AFS securities      
Cost or amortized cost of Fixed maturities 78,804    
Gross unrealized gains on Fixed maturities 9,300    
Gross unrealized losses on Fixed maturities 0    
Fixed maturities, at fair value 88,104    
Gross Unrealized Losses Non-credit related OTTI 0    
Life Funds Withheld Assets | CMBS
     
AFS securities      
Cost or amortized cost of Fixed maturities 198,576    
Gross unrealized gains on Fixed maturities 18,268    
Gross unrealized losses on Fixed maturities 0    
Fixed maturities, at fair value 216,844    
Gross Unrealized Losses Non-credit related OTTI 0    
Life Funds Withheld Assets | CDO
     
AFS securities      
Cost or amortized cost of Fixed maturities 0    
Gross unrealized gains on Fixed maturities 0    
Gross unrealized losses on Fixed maturities 0    
Fixed maturities, at fair value 0    
Gross Unrealized Losses Non-credit related OTTI 0    
Life Funds Withheld Assets | Other asset-backed securities
     
AFS securities      
Cost or amortized cost of Fixed maturities 271,691    
Gross unrealized gains on Fixed maturities 21,926    
Gross unrealized losses on Fixed maturities 0    
Fixed maturities, at fair value 293,617    
Gross Unrealized Losses Non-credit related OTTI 0    
Life Funds Withheld Assets | U.S. States and political subdivisions of the States
     
AFS securities      
Cost or amortized cost of Fixed maturities 0    
Gross unrealized gains on Fixed maturities 0    
Gross unrealized losses on Fixed maturities 0    
Fixed maturities, at fair value 0    
Gross Unrealized Losses Non-credit related OTTI 0    
Life Funds Withheld Assets | Non-U.S. Sovereign Government, Provincial, Supranational, and Government-Related/Supported
     
AFS securities      
Cost or amortized cost of Fixed maturities 1,546,747    
Gross unrealized gains on Fixed maturities 259,365    
Gross unrealized losses on Fixed maturities 0    
Fixed maturities, at fair value 1,806,112    
Gross Unrealized Losses Non-credit related OTTI $ 0    
[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 date an impairment was recorded.
[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 $1,679.1 million and fair value of $1,721.8 million and U.S. Agencies with an amortized cost of $230.2 million and fair value of $256.8 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 $92.1 million and an amortized cost of $92.1 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 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.
[7] 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.
[8] 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.
[9] 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 $28.1 million and an amortized cost of $32.6 million.
[10] 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 $155.9 million and an amortized cost of $143.6 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.
[11] Covered Bonds with an amortized cost of $737.0 million and a fair value of $763.6 million are included within Other asset-backed securities to align the Company's classification to market indices.