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Investments (Detail) - Cost (amortized cost for fixed maturities and short-term investments), fair value, gross unrealized gains, gross unrealized (losses), and OTTI recorded in AOCI (USD $)
In Thousands
9 Months Ended12 Months Ended
Sep. 30, 2011
Dec. 31, 2010
Fixed maturities – AFS  
Cost or Amortized cost of Fixed maturities$ 26,750,242[1]$ 27,322,842[1]
Gross unrealized gains of Fixed maturities1,142,508813,537
Related changes in estimated fair value of Fixed maturities(689,436)(765,447)
OTTI included in other comprehensive income (loss) of Fixed maturities(197,964)[2](228,827)[2]
Fair value of Fixed maturities27,005,350[1]27,142,105[1]
Cost or Amortized cost of Short-term investments367,878450,491
Fair value of Short-term investments366,679450,681
Cost or Amortized cost of Equity securities437,668[3]56,737
Gross unrealized gains of Equity securities27,324[3]28,083
Related changes in estimated fair value of Equity securities(55,829)[3](53)
Fair value of Equity securities409,163[3],[4]84,767[4]
OTTI included in other comprehensive income (loss) of Equity securities [2],[3] [2]
Cost or Amortized cost of Total Investments - AFS27,555,78827,830,070
Gross unrealized gains of Total Investments - AFS1,170,023842,300
Related changes in estimated fair value of Total Investments - AFS(746,655)(765,990)
OTTI included in other comprehensive income (loss) of Total Investments - AFS(197,964)[2](228,827)[2]
Fair value of Total Investments - AFS27,781,19227,677,553
Fixed maturities – HTM  
Cost or Amortized cost of Equity securities2,725,6232,728,335
Gross unrealized gains of Equity securities196,48138,982
Related changes in estimated fair value of Equity securities(20,670)(24,691)
OTTI included in other comprehensive income (loss) of Equity securities [2] [2]
Fair value of Held to maturity securities2,901,4342,742,626
Short-term Investments [Member]
  
Fixed maturities – AFS  
Cost or Amortized cost of Short-term investments367,878[5],[6]450,491[7],[8]
Gross unrealized gains of Short-term investments191[5],[6]680[7],[8]
Related changes in estimated fair value of Short-term investments(1,390)[5],[6](490)[7],[8]
Fair value of Short-term investments366,679[5],[6]450,681[7],[8]
OTTI included in other comprehensive income (loss) of Short-term investments [2],[5],[6] [2],[7],[8]
US Government And Government Related [Member]
  
Fixed maturities – AFS  
Cost or Amortized cost of Fixed maturities1,972,718[6]2,499,079[8]
Gross unrealized gains of Fixed maturities141,521[6]102,685[8]
Related changes in estimated fair value of Fixed maturities(5,398)[6](36,320)[8]
OTTI included in other comprehensive income (loss) of Fixed maturities [2],[6] [2],[8]
Fair value of Fixed maturities2,108,841[6]2,565,444[8]
Fixed maturities – HTM  
Cost or Amortized cost of Equity securities10,494[6]10,541[8]
Gross unrealized gains of Equity securities1,300[6]164[8]
Related changes in estimated fair value of Equity securities [6](9)[8]
OTTI included in other comprehensive income (loss) of Equity securities [2],[6] [2],[8]
Fair value of Held to maturity securities11,794[6]10,696[8]
Corporate Debt Securities [Member]
  
Fixed maturities – AFS  
Cost or Amortized cost of Fixed maturities10,622,568[5],[9]10,962,804[10],[7]
Gross unrealized gains of Fixed maturities505,910[5],[9]361,154[10],[7]
Related changes in estimated fair value of Fixed maturities(306,574)[5],[9](281,849)[10],[7]
OTTI included in other comprehensive income (loss) of Fixed maturities(63,996)[2],[5],[9](73,138)[10],[2],[7]
Fair value of Fixed maturities10,757,908[5],[9]10,968,971[10],[7]
Fixed maturities – HTM  
Cost or Amortized cost of Equity securities1,318,8541,337,797
Gross unrealized gains of Equity securities54,8626,370
Related changes in estimated fair value of Equity securities(18,122)(16,325)
OTTI included in other comprehensive income (loss) of Equity securities [2] [2]
Fair value of Held to maturity securities1,355,5941,327,842
Residential Mortgage-Backed Securities Agency [Member]
  
Fixed maturities – AFS  
Cost or Amortized cost of Fixed maturities5,385,1405,059,249
Gross unrealized gains of Fixed maturities214,790153,106
Related changes in estimated fair value of Fixed maturities(4,791)(8,644)
OTTI included in other comprehensive income (loss) of Fixed maturities [2] [2]
Fair value of Fixed maturities5,595,1395,203,711
Residential Mortgage-Backed Securities Non-Agency [Member]
  
Fixed maturities – AFS  
Cost or Amortized cost of Fixed maturities889,9491,257,474
Gross unrealized gains of Fixed maturities19,68926,361
Related changes in estimated fair value of Fixed maturities(113,495)(133,761)
OTTI included in other comprehensive income (loss) of Fixed maturities(113,162)[2](128,251)[2]
Fair value of Fixed maturities682,9811,021,823
Fixed maturities – HTM  
Cost or Amortized cost of Equity securities81,92382,763
Gross unrealized gains of Equity securities4,898634
Related changes in estimated fair value of Equity securities(282)(546)
OTTI included in other comprehensive income (loss) of Equity securities [2] [2]
Fair value of Held to maturity securities86,53982,851
Commercial Mortgage Backed Securities [Member]
  
Fixed maturities – AFS  
Cost or Amortized cost of Fixed maturities978,1311,135,075
Gross unrealized gains of Fixed maturities50,17155,852
Related changes in estimated fair value of Fixed maturities(4,095)(7,960)
OTTI included in other comprehensive income (loss) of Fixed maturities(7,321)[2](10,460)[2]
Fair value of Fixed maturities1,016,8861,172,507
Collateralized Debt Obligations [Member]
  
Fixed maturities – AFS  
Cost or Amortized cost of Fixed maturities871,407920,501
Gross unrealized gains of Fixed maturities7,38011,014
Related changes in estimated fair value of Fixed maturities(198,340)(188,563)
OTTI included in other comprehensive income (loss) of Fixed maturities(6,872)[2](8,814)[2]
Fair value of Fixed maturities673,575734,138
Other Asset Backed Securities [Member]
  
Fixed maturities – AFS  
Cost or Amortized cost of Fixed maturities1,082,513979,539
Gross unrealized gains of Fixed maturities20,31816,111
Related changes in estimated fair value of Fixed maturities(19,393)(26,954)
OTTI included in other comprehensive income (loss) of Fixed maturities(6,613)[2](8,164)[2]
Fair value of Fixed maturities1,076,825960,532
Fixed maturities – HTM  
Cost or Amortized cost of Equity securities284,095287,109
Gross unrealized gains of Equity securities14,4471,134
Related changes in estimated fair value of Equity securities(16)(1,410)
OTTI included in other comprehensive income (loss) of Equity securities [2] [2]
Fair value of Held to maturity securities298,526286,833
US States and Political Subdivisions Debt Securities [Member]
  
Fixed maturities – AFS  
Cost or Amortized cost of Fixed maturities1,648,7061,379,150
Gross unrealized gains of Fixed maturities76,98216,755
Related changes in estimated fair value of Fixed maturities(2,134)(35,449)
OTTI included in other comprehensive income (loss) of Fixed maturities [2] [2]
Fair value of Fixed maturities1,723,5541,360,456
Non US Sovereign Government Supranational And Government Related [Member]
  
Fixed maturities – AFS  
Cost or Amortized cost of Fixed maturities3,299,110[6]3,129,971[8]
Gross unrealized gains of Fixed maturities105,747[6]70,499[8]
Related changes in estimated fair value of Fixed maturities(35,216)[6](45,947)[8]
OTTI included in other comprehensive income (loss) of Fixed maturities [2],[6] [2],[8]
Fair value of Fixed maturities3,369,641[6]3,154,523[8]
Fixed maturities – HTM  
Cost or Amortized cost of Equity securities1,030,257[6]1,010,125[8]
Gross unrealized gains of Equity securities120,974[6]30,680[8]
Related changes in estimated fair value of Equity securities(2,250)[6](6,401)[8]
OTTI included in other comprehensive income (loss) of Equity securities [2],[6] [2],[8]
Fair value of Held to maturity securities$ 1,148,981[6]$ 1,034,404[8]
[1]Included in the table above 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, at their fair value of $485.6 million and $757.8 million at September 30, 2011 and December 31, 2010, respectively. These securities are reflected in the table based on their call date and have net unrealized losses of $167.6 million and $143.7 million at September 30, 2011 and December 31, 2010, respectively.
[2]Represents the amount of OTTI losses in AOCI, which from April 1, 2009 was not included in earnings under authoritative accounting guidance.
[3]Included within equity securities are investments in fixed income funds with a fair value of $91.1 million and an amortized cost of $100.0 million at September 30, 2011.
[4]Included within equity securities are investments fixed income funds of $91.1 million and nil at September 30, 2011 and December 31, 2010, respectively.
[5]Included within Corporate are certain medium term notes supported primarily by pools of European credit with varying degrees of leverage. The notes have a fair value of $429.2 million and an amortized cost of $460.0 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.
[6]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 $2,022.7 million and fair value of $2,058.5 million and U.S. Agencies with an amortized cost of $531.0 million and fair value of $581.5 million.
[7]Included within Corporate are certain medium term notes supported primarily by pools of European credit with varying degrees of leverage. The notes have a fair value of $454.8 million and an amortized cost of $504.6 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.
[8]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 $2,101.0 million and fair value of $2,131.2 million and U.S. Agencies with an amortized cost of $1,019.2 million and fair value of $1,072.6 million.
[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 $485.6 million and an amortized cost of $653.2 million at September 30, 2011.
[10]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 $757.8 million and an amortized cost of $883.0 million at December 31, 2010.