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Losses and Loss Expenses (Tables)
 12 Months Ended
Dec. 31, 2015
Segment Reporting Information [Line Items]  
Components of reserves
Unpaid losses and loss expenses for the indicated years ended December 31 are comprised of:
(U.S. dollars in thousands)
2015
 
2014
Reserve for reported losses and loss expenses
$
10,293,448

 
$
7,461,444

Reserve for losses incurred but not reported
15,146,296

 
11,891,799

Unpaid losses and loss expenses
$
25,439,744

 
$
19,353,243
Components of incurred losses and loss expenses
Net losses and loss expenses incurred for the years indicated are comprised of:
(U.S. dollars in thousands)
2015
 
2014
 
2013
Loss and loss expenses payments
$
6,505,075

 
$
4,499,642

 
$
4,496,802

Change in unpaid losses and loss expenses
(168,263
)
 
(514,406
)
 
(71,901
)
Change in unpaid losses and loss expenses recoverable
(440,189
)
 
(48,536
)
 
(24,774
)
Paid loss recoveries
(1,130,423
)
 
(678,307
)
 
(668,663
)
Net losses and loss expenses incurred
$
4,766,200

 
$
3,258,393

 
$
3,731,464
Reserve roll forward
The following table represents an analysis of the Company’s paid and unpaid losses and loss expenses incurred and a reconciliation of the beginning and ending unpaid losses and loss expenses for the years indicated:
(U.S. dollars in thousands)
2015
 
2014
 
2013
Unpaid losses and loss expenses at the beginning of the year
$
19,353,243

 
$
20,481,065

 
$
20,484,121

Unpaid losses and loss expenses recoverable
3,411,528

 
3,414,735

 
3,361,703

Net unpaid losses and loss expenses at the beginning of the year
$
15,941,715

 
$
17,066,330

 
$
17,122,418

Acquired reserves
5,439,876

 
—

 
—

Increase (decrease) in net losses and loss expenses incurred in respect of losses occurring in:
  
 
  
 
  
Current year
5,072,830

 
3,513,465

 
4,021,353

Prior year
(306,630
)
 
(255,072
)
 
(289,889
)
Total net incurred losses and loss expenses
$
4,766,200

 
$
3,258,393

 
$
3,731,464

Exchange rate effects
(582,300
)
 
(561,673
)
 
40,587

Less net losses and loss expenses paid in respect of losses occurring in:
  
 
  
 
  
Current year
1,047,277

 
381,008

 
425,254

Prior year
4,327,375

 
3,440,327

 
3,402,885

Total net paid losses
$
5,374,652

 
$
3,821,335

 
$
3,828,139

Net unpaid losses and loss expenses at the end of the year
20,190,839

 
15,941,715

 
17,066,330

Unpaid losses and loss expenses recoverable
5,248,905

 
3,411,528

 
3,414,735

Unpaid losses and loss expenses at the end of the year
$
25,439,744

 
$
19,353,243

 
$
20,481,065
Schedule of causes of increase (decrease) in liability for unpaid claims and claims adjustment expense [Table Text Block]
The following table presents the net (favorable) adverse prior year loss development of the Company’s loss and loss expense reserves for its property and casualty operations by operating segment for each of the years indicated:
(U.S. dollars in thousands)
2015
 
2014
 
2013
Insurance segment
$
(65,030
)
 
$
(99,758
)
 
$
(102,039
)
Reinsurance segment
(241,600
)
 
(155,314
)
 
(187,850
)
Total
$
(306,630
)
 
$
(255,072
)
 
$
(289,889
)
Asbestos and environmental related claims rollforward
A reconciliation of the opening and closing unpaid losses and loss expenses related to discontinued asbestos and run-off environmental exposure claims for the years indicated is as follows:
Year ended December 31,
(U.S. dollars in thousands)
2015
 
2014
 
2013
Net unpaid losses and loss expenses at beginning of year
$
81,416

 
$
80,435

 
$
78,315

Net incurred losses and loss expenses
15,663

 
8,903

 
6,257

Less net paid losses and loss expenses
9,087

 
7,922

 
4,137

Net increase (decrease) in unpaid losses and loss expenses
$
6,576

 
$
981

 
$
2,120

Acquired reserves
5,712

 
—

 
—

Net unpaid losses and loss expenses at end of year
93,704

 
81,416

 
80,435

Unpaid losses and loss expenses recoverable at end of year
93,688

 
100,537

 
115,090

Gross unpaid losses and loss expenses at end of year
$
187,392

 
$
181,953

 
$
195,525
Schedule of open claims files for potential asbestos and environmental claims
The development of the number of open claim files for potential discontinued asbestos and run-off environmental claims, including precautionary claims, is as follows:
 
Asbestos
Claims
 
Environmental
Claims
Total number of claims outstanding at December 31, 2012
1,073

 
354

New claims reported in 2013
178

 
34

Claims resolved in 2013
(154
)
 
(50
)
Total number of claims outstanding at December 31, 2013
1,097

 
338

New claims reported in 2014
456

 
190

Claims resolved in 2014
(154
)
 
(69
)
Total number of claims outstanding at December 31, 2014
1,399

 
459

New claims reported in 2015
272

 
67

Claims resolved in 2015
(246
)
 
(96
)
Acquired reserves
1,166

 
—

Total number of claims outstanding at December 31, 2015
2,591

 
430
Insurance Segment [Member]  
Segment Reporting Information [Line Items]  
Components of prior year development
The following table summarizes the net (favorable) adverse prior year development by line of business relating to the Insurance segment for the indicated years ended December 31:
(U.S. dollars in thousands)
2015
 
2014
 
2013
Professional
$
5,763

 
$
17,097

 
$
75,045

Casualty
(11,949
)
 
38,414

 
(21,829
)
Property
25,189

 
(57,470
)
 
(46,387
)
Specialty
(120,879
)
 
(82,756
)
 
(140,740
)
Other
36,846

 
(15,043
)
 
31,872

Total
$
(65,030
)
 
$
(99,758
)
 
$
(102,039
)
Reinsurance Segment [Member]  
Segment Reporting Information [Line Items]  
Components of prior year development
The following table summarizes the net (favorable) adverse prior year development by line of business relating to the Reinsurance segment for the indicated years ended December 31:
(U.S. dollars in thousands)
2015
 
2014
 
2013
Property and other short-tail lines
$
(173,754
)
 
$
(85,324
)
 
$
(136,912
)
Casualty and other
(67,846
)
 
(69,990
)
 
(50,938
)
Total
$
(241,600
)
 
$
(155,314
)
 
$
(187,850
)