Notes Payable and Debt and Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2012

Debt Disclosure Abstract

Financing structure

	2012				2011
	Commitment/		In Use/		Commitment/		In Use/
(U.S. dollars in thousands)	Debt		Outstanding (1)		Debt		Outstanding (1)
Debt:
4-year revolver expiring 2015 (2)	$	1,000,000	$	-	$	1,000,000	$	-
6.50% Guaranteed Senior Notes due 2012 (3)		-		-		600,000		599,971
5.25% Senior Notes due 2014		600,000		598,424		600,000		597,501
5.75% Senior Notes due 2021		400,000		396,230		400,000		395,963
6.375% Senior Notes due 2024		350,000		348,701		350,000		348,592
6.25% Senior Notes due 2027		325,000		322,748		325,000		322,591
Total debt	$	2,675,000	$	1,666,103	$	3,275,000	$	2,264,618
Adjustment to carrying value - impact of fair value hedges				6,675		-		10,709
Carrying value	$	2,675,000	$	1,672,778	$	3,275,000	$	2,275,327
Letters of Credit:
5 facilities - total	$	4,000,000	$	1,757,250	$	4,000,000	$	1,871,192

_______________

(1)“In Use” and “Outstanding” data represent December 31, 2012 and 2011 accreted values.

(2)This credit facility has a $1 billion revolving credit sub-limit.

(3)The 6.50% Guaranteed Senior Notes were repaid at maturity on January 15, 2012.

Credit facilities

(U.S. dollars in thousands)	2012 (1)		2011 (1)
Revolving credit facility (2)	$	1,000,000	$	1,000,000
Available letter of credit facilities - commitments (3) (4)	$	4,000,000	$	4,000,000
Available letter of credit facilities - in use	$	1,757,250	$	1,871,192
Collateralized by certain assets of the Company's investment portfolio		93.3%		93.8%

_______________

(1)       At December 31, 2012and December 31, 2011,there were five available letter of credit facilities.

(2)       At December 31, 2012 and December 31, 2011, the revolving credit facility was unutilized.

(3)       The Company has the option to increase the size of the March 2011 Credit Agreement by an additional $500 million and the size of the facilities under the December 2011 Credit Agreements by an additional $500 million across both such facilities.

(4)       This amount excludes $1.0 billion that is also included in the revolving credit facility above.