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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 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
September 30, 2012 Identical Assets Inputs Inputs Counterparty September 30,
(U.S. dollars in thousands) (Level 1) (Level 2) (Level 3) Netting 2012
Assets               
U.S. Government and Government - Related/Supported $- $2,135,368 $- $- $2,135,368
Corporate (1) (2)  -  9,978,002  29,135  -  10,007,137
Residential mortgage-backed securities – Agency ("RMBS - Agency")   -  5,343,046  33,857  -  5,376,903
Residential mortgage-backed securities – Non-Agency ("RMBS - Non-Agency")  -  628,486  7,839  -  636,325
Commercial mortgage-backed securities ("CMBS")  -  1,001,040  33,369  -  1,034,409
Collateralized debt obligations ("CDO")  -  7,773  674,793  -  682,566
Other asset-backed securities (2)  -  1,441,381  17,163  -  1,458,544
U.S. States and political subdivisions of the States  -  1,820,105  -  -  1,820,105
Non-U.S. Sovereign Government, Provincial, Supranational and Government-Related/Supported  -  4,274,936  -  -  4,274,936
Total fixed maturities, at fair value $- $26,630,137 $796,156 $- $27,426,293
Equity securities, at fair value (3)  230,539  335,388  -  -  565,927
Short-term investments, at fair value (1)(4)  -  323,705  -  -  323,705
Total investments available for sale $230,539 $27,289,230 $796,156 $- $28,315,925
Cash equivalents (5)  2,037,971  321,646  -  -  2,359,617
Other investments (6)  -  783,813  119,975  -  903,788
Other assets (7)  -  10,611  -  41,540  52,151
Total assets accounted for at fair value $2,268,510 $28,405,300 $916,131 $41,540 $31,631,481
                
Liabilities               
Financial instruments sold, but not yet purchased (8) $- $30,944 $- $- $30,944
Other liabilities (7)  -  82,009  35,062  -  117,071
Total liabilities accounted for at fair value $- $112,953 $35,062 $- $148,015

  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 $192.3 million and $266.0 million and an amortized cost of $199.8 million and $297.7 million at September 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 September 30, 2012, Covered Bonds within Total fixed maturities with a fair value of $599.9 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 $99.3 million and $91.6 million at September 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, which totaled $311.8 million at September 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, at September 30, 2012 the Company paid net cash collateral related to these derivative positions of $41.5 million. The assets related to the net collateral paid have been recorded as Other assets within the balance sheet. At December 31, 2011, the Company held net cash collateral of $77.1 million. The collateral balance is included within Cash and cash equivalents and the corresponding liability to return the collateral has been offset against the derivative asset 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 September 30, 2012
(U.S. dollars in thousands)  Corporate  RMBS - Agency  RMBS - Non Agency  CMBS  CDO
Balance, beginning of period $33,511 $52,588 $1,596 $- $642,179
Realized gains (losses)  20  4  (22)  -  913
Movement in unrealized gains (losses)  673  106  (424)  -  35,886
Purchases and issuances  -  34  6,821  33,369  -
Sales and settlements  (555)  (4,645)  (59)  -  (5,347)
Transfers into Level 3  -  -  -  -  1,162
Transfers out of Level 3  (4,514)  (14,230)  (73)  -  -
Fixed maturities to short-term investments classification change  -  -  -  -  -
Balance, end of period $29,135 $33,857 $7,839 $33,369 $674,793
Movement in total gains (losses) above relating to instruments still held at the reporting date $674 $110 $(447) $- $35,806
                
                
 Level 3 Assets and Liabilities - Three Months Ended September 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 $25,248 $- $- $117,765 $(35,947)
Realized gains (losses)  7,017  -  -  343  -
Movement in unrealized gains (losses)  (6,552)  -  -  1,686  885
Purchases and issuances  8,753  -  -  982  -
Sales and settlements  (16,141)  -  -  (807)  -
Transfers into Level 3  -  -  -  6  -
Transfers out of Level 3  (1,162)  -  -  -  -
Fixed maturities to short-term investments classification change  -  -  -  -  -
Balance, end of period $17,163 $- $- $119,975 $(35,062)
Movement in total gains (losses) above relating to instruments still held at the reporting date $456 $- $- $1,334 $885

                
 Level 3 Assets and Liabilities - Three Months Ended September 30, 2011
(U.S. dollars in thousands)  Corporate  RMBS - Agency  RMBS - Non Agency  CMBS  CDO
Balance, beginning of period $4,786 $15,385 $3,194 $4,563 $727,239
Realized gains (losses)  23  (81)  (328)  (501)  (2,662)
Movement in unrealized gains (losses)  (22)  52  76  564  (46,520)
Purchases and issuances  -  33  -  -  -
Sales and settlements  -  (206)  (143)  (232)  (12,215)
Transfers into Level 3  -  -  -  -  -
Transfers out of Level 3  -  -  -  -  -
Fixed maturities to short-term investments classification change  -  -  -  -  -
Balance, end of period $4,787 $15,183 $2,799 $4,394 $665,842
Movement in total gains (losses) above relating to instruments still held at the reporting date $1 $(29) $(252) $63 $(49,432)
                
                
 Level 3 Assets and Liabilities - Three Months Ended September 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 $17,048 $- $- $114,540 $(49,645)
Realized gains (losses)  (238)  -  -  (244)  -
Movement in unrealized gains (losses)  302  -  -  2,642  (2,344)
Purchases and issuances  -  -  -  1,667  -
Sales and settlements  -  -  -  (4,243)  -
Transfers into Level 3  -  -  -  -  -
Transfers out of Level 3  -  -  -  -  -
Fixed maturities to short-term investments classification change  -  -  -  -  -
Balance, end of period $17,112 $- $- $114,362 $(51,989)
Movement in total gains (losses) above relating to instruments still held at the reporting date $64 $- $- $2,398 $(2,344)

                
 Level 3 Assets and Liabilities - Nine Months Ended September 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)  4  (23)  -  -  (523)
Movement in unrealized gains (losses)  346  58  -  -  75,489
Purchases and issuances  8,949  103  6,821  33,369  -
Sales and settlements  (181)  (6,233)  -  -  (51,024)
Transfers into Level 3  838  15,254  1,018  -  -
Transfers out of Level 3  (4,639)  (7,343)  -  -  -
Fixed maturities to short-term investments classification change  -  -  -  -  -
Balance, end of period $29,135 $33,857 $7,839 $33,369 $674,793
Movement in total gains (losses) above relating to instruments still held at the reporting date $351 $35 $- $- $71,738
                
                
 Level 3 Assets and Liabilities - Nine Months Ended September 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)  6,748  -  -  2,782  -
Movement in unrealized gains (losses)  (2,873)  -  -  6,206  7,582
Purchases and issuances  8,753  -  -  4,664  -
Sales and settlements  (15,867)  -  -  (7,327)  -
Transfers into Level 3  3,850  -  -  6  -
Transfers out of Level 3  -  -  -  (315)  -
Fixed maturities to short-term investments classification change  -  -  -  -  -
Balance, end of period $17,163 $- $- $119,975 $(35,062)
Movement in total gains (losses) above relating to instruments still held at the reporting date $3,652 $- $- $2,385 $7,582

                
 Level 3 Assets and Liabilities - Nine Months Ended September 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)  (257)  (81)  (329)  (1,179)  (3,733)
Movement in unrealized gains (losses)  173  2  61  1,078  (10,104)
Purchases and issuances  6,878  33  -  3,155  2,379
Sales and settlements  (10,049)  (492)  (517)  (283)  (46,158)
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 $4,787 $15,183 $2,799 $4,394 $665,842
Movement in total gains (losses) above relating to instruments still held at the reporting date $(52) $(79) $(268) $(855) $(15,656)
                
                
 Level 3 Assets and Liabilities - Nine Months Ended September 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)  (555)  -  -  11,911  -
Movement in unrealized gains (losses)  7,162  -  -  10,134  (12,620)
Purchases and issuances  -  -  -  9,782  -
Sales and settlements  (9,114)  -  -  (51,182)  (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 $17,112 $- $- $114,362 $(51,989)
Movement in total gains (losses) above relating to instruments still held at the reporting date $6,287 $- $- $19,735 $(12,620)
Schedule Of Financial Instruments Not Carried at Fair Value [Text Block]
  September 30, 2012 December 31, 2011
   Carrying  Fair  Carrying  Fair
(U.S. dollars in thousands) Value  Value  Value  Value
 Fixed maturities, held to maturity$2,805,796 $3,222,900 $2,668,978 $2,895,688
 Other investments - structured transactions.  311,767  287,136  323,705  297,124
Financial Assets $3,117,563 $3,510,036 $2,992,683 $3,192,812
             
 Deposit liabilities$1,561,076 $1,885,194 $1,608,108 $1,809,812
 Notes payable and debt 1,673,350  1,866,084  2,275,327  2,340,148
Financial Liabilities$3,234,426 $3,751,278 $3,883,435 $4,149,960