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UNAUDITED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues:        
Net premiums earned $ 1,562,393 $ 1,486,593 $ 3,092,084 $ 2,923,010
Net investment income 232,546 262,631 479,014 527,873
Realized investment gains (losses):        
Net realized gains (losses) on investments sold 43,357 15,800 84,504 57,567
Other-than-temporary impairments on investments (1,561) (16,168) (5,289) (34,733)
Other-than-temporary impairments on investments transferred to (from) other comprehensive income (828) (12,025) (1,738) (14,425)
Net realized gains (losses) on investments 40,968 (12,393) 77,477 8,409
Net realized and unrealized gains (losses) on derivative instruments (5,105) (4,301) 2,780 (3,598)
Income (loss) from investment fund affiliates 46,543 3,097 78,764 22,506
Fee income and other 10,871 13,213 20,503 23,072
Total revenues 1,888,216 1,748,840 3,750,622 3,501,272
Expenses:        
Net losses and loss expenses incurred 937,606 826,354 1,780,690 1,680,420
Claims and policy benefits 116,767 131,149 227,720 252,455
Acquisition costs 231,886 218,937 452,145 443,087
Operating expenses 303,159 299,053 586,992 581,465
Exchange (gains) losses (11,331) (17,976) (44,766) (5,258)
Interest expense 38,204 57,359 76,904 96,657
Total expenses 1,616,291 1,514,876 3,079,685 3,048,826
Income (loss) before income tax and income (loss) from operating affiliates 271,925 233,964 670,937 452,446
Income (loss) from operating affiliates 32,825 20,457 63,823 36,710
Provision (benefit) for income tax 28,872 29,812 72,351 51,362
Net income (loss) 275,878 224,609 662,409 437,794
Non-controlling interests (3,180) (3,455) (38,922) (40,012)
Net income (loss) attributable to ordinary shareholders $ 272,698 $ 221,154 $ 623,487 $ 397,782
Weighted average ordinary shares and ordinary share equivalents outstanding - basic (in shares) 289,513 309,765 292,277 312,442
Weighted average ordinary shares and ordinary share equivalents outstanding - diluted (in shares) 294,333 312,435 297,044 315,010
Earnings (loss) per ordinary share and ordinary share equivalent - basic (in dollars per share) $ 0.94 $ 0.71 $ 2.13 $ 1.27
Earnings (loss) per ordinary share and ordinary share equivalent - diluted (in dollars per share) $ 0.93 $ 0.71 $ 2.10 $ 1.26