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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2012
Fair Value Disclosures Abstract  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
  Quoted Prices Significant Significant    
   in Active Other Other Collateral   
  Markets for Observable  Unobservable  and Balance at
June 30, 2012 Identical Assets Inputs Inputs Counterparty June 30,
(U.S. dollars in thousands) (Level 1) (Level 2) (Level 3) Netting 2012
Assets               
U.S. Government and Government - Related/Supported $- $2,101,625 $- $- $2,101,625
Corporate (1) (2)  -  9,687,642  33,511  -  9,721,153
Residential mortgage-backed securities – Agency ("RMBS - Agency")   -  5,149,725  52,588  -  5,202,313
Residential mortgage-backed securities – Non-Agency ("RMBS - Non-Agency")  -  582,947  1,596  -  584,543
Commercial mortgage-backed securities ("CMBS")  -  904,792  -  -  904,792
Collateralized debt obligations ("CDO")  -  7,839  642,179  -  650,018
Other asset-backed securities (2)  -  1,382,490  25,248  -  1,407,738
U.S. States and political subdivisions of the States  -  1,764,431  -  -  1,764,431
Non-U.S. Sovereign Government, Provincial, Supranational and Government-Related/Supported  -  3,906,189  -  -  3,906,189
Total fixed maturities, at fair value $- $25,487,680 $755,122 $- $26,242,802
Equity securities, at fair value (3)  273,427  255,629  -  -  529,056
Short-term investments, at fair value (1)(4)  -  227,380  -  -  227,380
Total investments available for sale $273,427 $25,970,689 $755,122 $- $26,999,238
Cash equivalents (5)  1,750,569  710,712  -  -  2,461,281
Other investments (6)  -  776,438  117,765  -  894,203
Other assets (7)  -  178,104  -  (124,674)  53,430
Total assets accounted for at fair value $2,023,996 $27,635,943 $872,887 $(124,674) $30,408,152
                
Liabilities               
Financial instruments sold, but not yet purchased (8) $- $28,198 $- $- $28,198
Other liabilities (7)  -  10,578  35,947  -  46,525
Total liabilities accounted for at fair value $- $38,776 $35,947 $- $74,723

  Quoted Prices Significant Significant    
   in Active Other Other Collateral   
  Markets for Observable  Unobservable  and Balance at
December 31, 2011 Identical Assets Inputs Inputs Counterparty December 31,
(U.S. dollars in thousands) (Level 1) (Level 2) (Level 3) Netting 2011
Assets               
U.S. Government and Government - Related/Supported $- $1,990,983 $- $- $1,990,983
Corporate (1) (2)  -  10,084,804  23,818  -  10,108,622
RMBS – Agency  -  5,347,365  32,041  -  5,379,406
RMBS – Non-Agency  -  641,815  -  -  641,815
CMBS  -  974,835  -  -  974,835
CDO  -  7,751  650,851  -  658,602
Other asset-backed securities (2)  -  1,323,697  16,552  -  1,340,249
U.S. States and political subdivisions of the States  -  1,797,378  -  -  1,797,378
Non-U.S. Sovereign Government, Provincial, Supranational and Government-Related/Supported  -  3,298,135  -  -  3,298,135
Total fixed maturities, at fair value (2) $- $25,466,763 $723,262 $- $26,190,025
Equity securities, at fair value (3)  239,175  229,022  -  -  468,197
Short-term investments, at fair value (1)(4)  -  359,063  -  -  359,063
Total investments available for sale $239,175 $26,054,848 $723,262 $- $27,017,285
Cash equivalents (5)  1,686,101  1,068,264  -  -  2,754,365
Other investments (6)  -  547,598  113,959  -  661,557
Other assets (7)  -  143,622  -  (77,888)  65,734
Total assets accounted for at fair value $1,925,276 $27,814,332 $837,221 $(77,888) $30,498,941
                
Liabilities               
Financial instruments sold, but not yet purchased (8) $- $20,844 $- $- $20,844
Other liabilities (7)  -  16,871  42,644  (809)  58,706
Total liabilities accounted for at fair value $- $37,715 $42,644 $(809) $79,550

_______________

(1)       Included within Corporate are certain medium term notes supported primarily by pools of European investment grade credit with varying degrees of leverage. The notes, which are in a gross unrealized loss position, had a fair value of $186.1 million and $266.0 million and an amortized cost of $199.1 million and $297.7 million at June 30, 2012 and December 31, 2011, respectively. 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.

(2)       The Company invests in covered bonds issued by financial institutions (“Covered Bonds”). Covered Bonds are senior secured debt instruments issued by financial institutions and backed by over-collateralized pools of public sector or mortgage loans. At June 30, 2012, Covered Bonds within Total fixed maturities with a fair value of $500.5 million are included within Other asset-backed securities to align the Company's classification to market indices. At December 31, 2011, Covered Bonds within Total fixed maturities with a fair value of $353.9 million were reclassified from Corporate to Other asset-backed securities to conform to current period presentation.

(3)       Included within Equity securities are investments in fixed income funds with a fair value of $95.8 million and $91.6 million at June 30, 2012 and December 31, 2011, respectively.

(4)       Short-term investments consist primarily of Corporate securities and U.S. Government and Government-Related/Supported securities.

(5)       Cash equivalents balances subject to fair value measurement include certificates of deposit and money market funds. Operating cash balances are not subject to fair value measurement guidance.

(6)       The Other investments balance excludes certain structured transactions including certain investments in project finance transactions, a payment obligation and liquidity financing provided to a structured credit vehicle as a part of a third party medium term note facility. These investments that totaled $314.0 million at June 30, 2012 and $323.7 million at December 31, 2011 are carried at amortized cost. For further details regarding the nature of Other investments and related features see Item 8, Note 7, “Other Investments,” to the Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2011

(7)       Other assets and other liabilities include derivative instruments. The derivative balances included in each category are reported on a gross basis by level with a netting adjustment presented separately in the Collateral and Counterparty Netting column. The Company often enters into different types of derivative contracts with a single counterparty and these contracts are covered under a netting agreement. In addition, the Company held net cash collateral related to derivative positions of approximately $124.7 million and $77.1 million at June 30, 2012 and December 31, 2011, respectively. This balance is included within cash and cash equivalents and the corresponding liability to return the collateral has been offset against the derivative positions within the balance sheet as appropriate under the netting agreement. The fair values of the individual derivative contracts are reported gross in their respective levels based on the fair value hierarchy.

(8)       Financial instruments sold, but not yet purchased, represent “short sales” and are included within “Payable for investments purchased” on the balance sheet.

 
Fair Value, Assets And Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Text Block]
                
 Level 3 Assets and Liabilities - Three Months Ended June 30, 2012
(U.S. dollars in thousands)  Corporate  RMBS - Agency  RMBS - Non Agency  CMBS  CDO
Balance, beginning of period $33,305 $39,795 $- $- $638,697
Realized gains (losses)  82  (30)  -  -  57
Movement in unrealized gains (losses)  94  195  -  -  6,186
Purchases and issuances  -  35  -  -  -
Sales and settlements  (213)  (4,345)  -  -  (1,488)
Transfers into Level 3  536  16,938  1,596  -  -
Transfers out of Level 3  (293)  -  -  -  (1,273)
Fixed maturities to short-term investments classification change  -  -  -  -  -
Balance, end of period $33,511 $52,588 $1,596 $- $642,179
Movement in total gains (losses) above relating to instruments still held at the reporting date $94 $197 $- $- $6,186
                
                
 Level 3 Assets and Liabilities - Three Months Ended June 30, 2012
(U.S. dollars in thousands)  Other asset-backed securities  Non-US Sovereign Government, Provincial, Supranational and Government Related/Supported  Short-term investments  Other investments  Derivative Contracts - Net
Balance, beginning of period $16,410 $- $- $115,659 $(40,630)
Realized gains (losses)  (135)  -  -  510  -
Movement in unrealized gains (losses)  4,145  -  -  3,616  4,683
Purchases and issuances  -  -  -  2,365  -
Sales and settlements  (844)  -  -  (4,080)  -
Transfers into Level 3  5,672  -  -  -  -
Transfers out of Level 3  -  -  -  (305)  -
Fixed maturities to short-term investments classification change  -  -  -  -  -
Balance, end of period $25,248 $- $- $117,765 $(35,947)
Movement in total gains (losses) above relating to instruments still held at the reporting date $3,918 $- $- $1,326 $4,683

                
 Level 3 Assets and Liabilities - Three Months Ended June 30, 2011
(U.S. dollars in thousands)  Corporate  RMBS - Agency  RMBS - Non Agency  CMBS  CDO
Balance, beginning of period $34,885 $32,987 $3,335 $1,757 $742,551
Realized gains (losses)  (247)  -  -  207  (419)
Movement in unrealized gains (losses)  353  61  (22)  (527)  9,633
Purchases and issuances  -  -  -  3,155  2,379
Sales and settlements  (7,567)  (165)  (119)  (29)  (29,530)
Transfers into Level 3  -  11,276  -  -  2,625
Transfers out of Level 3  (22,638)  (28,774)  -  -  -
Fixed maturities to short-term investments classification change  -  -  -  -  -
Balance, end of period $4,786 $15,385 $3,194 $4,563 $727,239
Movement in total gains (losses) above relating to instruments still held at the reporting date $71 $61 $(22) $(320) $8,419
                
                
 Level 3 Assets and Liabilities - Three Months Ended June 30, 2011
(U.S. dollars in thousands)  Other asset-backed securities  Non-US Sovereign Government, Provincial, Supranational and Government Related/Supported  Short-term investments  Other investments  Derivative Contracts - Net
Balance, beginning of period $12,371 $- $- $144,834 $(36,810)
Realized gains (losses)  161  -  -  12,155  -
Movement in unrealized gains (losses)  4,688  -  -  (1,982)  (12,725)
Purchases and issuances  -  -  -  6,254  -
Sales and settlements  (172)  -  -  (46,421)  (110)
Transfers into Level 3  -  -  -  -  -
Transfers out of Level 3  -  -  -  (300)  -
Fixed maturities to short-term investments classification change  -  -  -  -  -
Balance, end of period $17,048 $- $- $114,540 $(49,645)
Movement in total gains (losses) above relating to instruments still held at the reporting date $4,878 $- $- $9,285 $(12,725)

                
 Level 3 Assets and Liabilities - Six Months Ended June 30, 2012
(U.S. dollars in thousands)  Corporate  RMBS - Agency  RMBS - Non Agency  CMBS  CDO
Balance, beginning of period $23,818 $32,041 $- $- $650,851
Realized gains (losses)  (42)  (96)  -  -  (1,612)
Movement in unrealized gains (losses)  1,255  (95)  -  -  39,379
Purchases and issuances  8,734  70  -  -  -
Sales and settlements  (1,608)  (3,211)  -  -  (44,835)
Transfers into Level 3  1,354  23,879  1,596  -  -
Transfers out of Level 3  -  -  -  -  (1,604)
Fixed maturities to short-term investments classification change  -  -  -  -  -
Balance, end of period $33,511 $52,588 $1,596 $- $642,179
Movement in total gains (losses) above relating to instruments still held at the reporting date $1,255 $(95) $- $- $35,379
                
                
 Level 3 Assets and Liabilities - Six Months Ended June 30, 2012
(U.S. dollars in thousands)  Other asset-backed securities  Non-US Sovereign Government, Provincial, Supranational and Government Related/Supported  Short-term investments  Other investments  Derivative Contracts - Net
Balance, beginning of period $16,552 $- $- $113,959 $(42,644)
Realized gains (losses)  (94)  -  -  2,438  -
Movement in unrealized gains (losses)  3,905  -  -  4,521  6,697
Purchases and issuances  -  -  -  3,682  -
Sales and settlements  (1,118)  -  -  (6,520)  -
Transfers into Level 3  6,003  -  -  -  -
Transfers out of Level 3  -  -  -  (315)  -
Fixed maturities to short-term investments classification change  -  -  -  -  -
Balance, end of period $25,248 $- $- $117,765 $(35,947)
Movement in total gains (losses) above relating to instruments still held at the reporting date $3,681 $- $- $1,004 $6,697

                
 Level 3 Assets and Liabilities - Six Months Ended June 30, 2011
(U.S. dollars in thousands)  Corporate  RMBS - Agency  RMBS - Non Agency  CMBS  CDO
Balance, beginning of period $36,866 $30,255 $4,964 $1,623 $721,572
Realized gains (losses)  (279)  -  -  (678)  (1,071)
Movement in unrealized gains (losses)  195  (50)  (16)  514  36,417
Purchases and issuances  6,877  -  -  3,155  2,379
Sales and settlements  (10,049)  (286)  (374)  (51)  (33,944)
Transfers into Level 3  -  -  -  -  1,886
Transfers out of Level 3  (28,824)  (14,534)  (1,380)  -  -
Fixed maturities to short-term investments classification change  -  -  -  -  -
Balance, end of period $4,786 $15,385 $3,194 $4,563 $727,239
Movement in total gains (losses) above relating to instruments still held at the reporting date $6 $(50) $(16) $(152) $33,777
                
                
 Level 3 Assets and Liabilities - Six Months Ended June 30, 2011
(U.S. dollars in thousands)  Other asset-backed securities  Non-US Sovereign Government, Provincial, Supranational and Government Related/Supported  Short-term investments  Other investments  Derivative Contracts - Net
Balance, beginning of period $24,650 $3,667 $- $133,717 $(39,195)
Realized gains (losses)  (317)  -  -  12,155  -
Movement in unrealized gains (losses)  6,860  -  -  7,492  (10,276)
Purchases and issuances  -  -  -  8,115  -
Sales and settlements  (9,114)  -  -  (46,939)  (174)
Transfers into Level 3  -  -  -  -  -
Transfers out of Level 3  (5,031)  (3,667)  -  -  -
Fixed maturities to short-term investments classification change  -  -  -  -  -
Balance, end of period $17,048 $- $- $114,540 $(49,645)
Movement in total gains (losses) above relating to instruments still held at the reporting date $6,193 $- $- $17,337 $(10,276)
Schedule Of Financial Instruments Not Carried at Fair Value [Text Block]
  June 30, 2012 December 31, 2011
   Carrying  Fair  Carrying  Fair
(U.S. dollars in thousands) Value  Value  Value  Value
 Fixed maturities, held to maturity$2,716,357 $3,006,992 $2,668,978 $2,895,668
 Other investments - structured transactions.  314,015  289,874  323,705  297,124
Financial Assets $3,030,372 $3,296,866 $2,992,683 $3,192,792
             
 Deposit liabilities$1,600,595 $1,876,742 $1,608,108 $1,809,812
 Notes payable and debt 1,673,921  1,820,193  2,275,327  2,340,148
Financial Liabilities$3,274,516 $3,696,935 $3,883,435 $4,149,960