Income Tax (Tables)

12 Months Ended

Dec. 31, 2011

Income Tax [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

		2011		2010		2009
Pre-tax income - U.S.		$	400,278	$	500,938	$	295,105
Pre-tax income - foreign			363,293		305,243		245,454
	Total pre-tax income	$	763,571	$	806,181	$	540,559

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income tax expense for the years ended December 31, 2011, 2010 and 2009 consists of the following (dollars in thousands):
			2011		2010		2009
Current income tax expense (benefit):
U.S.			$	(1,605)	$	(217,970)	$	203,758
Foreign				50,138		63,233		62,696
	Total current			48,533		(154,737)		266,454
Deferred income tax expense (benefit):
U.S.				155,895		392,905		(106,321)
Foreign				13,098		32,271		7,430
	Total deferred			168,993		425,176		(98,891)
		Total provision for income taxes	$	217,526	$	270,439	$	167,563

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Provision for income tax expense differed from the amounts computed by applying the U.S. federal income tax statutory rate of 35% to pre-tax income as a result of the following for the years ended December 31, 2011, 2010 and 2009 (dollars in thousands):
			2011			2010			2009
Tax provision at U.S. statutory rate			$	267,250		$	282,163		$	189,196
Increase (decrease) in income taxes resulting from:
	Foreign tax rate differing from U.S. tax rate			(9,681)			(7,544)			(7,207)
	Differences in tax basis in foreign jurisdictions			(11,584)			(5,210)			(4,222)
	Deferred tax valuation allowance			4,147			(11)			(4,450)
	Amounts related to tax audit contingencies			5,562			3,942			(10,774)
	Corporate rate changes - Canada			(40,593)			--			--
	Corporate rate changes - other			(1,933)			--			--
	Subpart F			9,340			--			--
	Foreign tax credits			(3,546)			--			--
	Prior year tax adjustment			(1,863)			(2,322)			4,552
	Other, net			427			(579)			468
		Total provision for income taxes	$	217,526		$	270,439		$	167,563
Effective tax rate				28.5	%		33.5	%		31.0	%

Schedule Of Income Tax Expense Benefit Intraperiod Tax Allocation [Table Text Block]

Total income taxes for the years ended December 31, 2011, 2010 and 2009 were as follows (dollars in thousands):
				2011		2010		2009
Provision for income taxes				$	217,526	$	270,439	$	167,563
	Income tax from OCI:
		Net unrealized holding gain (loss) on debt and equity securities
			recognized for financial reporting purposes		275,975		267,445		355,088
		Exercise of stock options			(4,934)		2,255		(2,605)
		Foreign currency translation			1,579		(19,633)		1,136
		Unrealized pension and post retirement			(8,581)		911		(754)
			Total income taxes provided	$	481,565	$	521,417	$	520,428

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of temporary differences that give rise to significant portions of the deferred income tax asset and liabilities at December 31, 2011 and 2010, are presented in the following tables (dollars in thousands):
				2011		2010
Deferred income tax assets:
	Nondeductible accruals			$	51,101	$	18,961
	Differences between tax and financial reporting amounts concerning certain reinsurance transactions
						17,097		16,036
	Investment income differences				98,496		110,446
	Deferred acquisition costs capitalized for tax				67,006		66,246
	Net operating loss carryforward				174,503		348,450
	Capital loss and tax credit carryforwards				41,737		55,215
	Deferred acquisition costs capitalized for financial reporting				--		16,581
		Subtotal			449,940		631,935
Valuation allowance					(8,630)		(3,910)
	Total deferred income tax assets				441,310		628,025
Deferred income tax liabilities:
	Deferred acquisition costs capitalized for financial reporting				1,047,748		1,039,972
	Differences between tax and financial reporting amounts concerning certain reinsurance transactions
						473,767		497,740
	Differences in the tax basis of cash and invested assets				574,738		274,891
	Investment income differences				13,499		14,050
	Differences in foreign currency translation				8,604		61,552
		Total deferred income tax liabilities			2,118,356		1,888,205
			Net deferred income tax liabilities	$	1,677,046	$	1,260,180
Balance sheet presentation of net deferred income tax liabilities:
	Included in other assets				2,788		--
	Included in deferred income taxes				1,679,834		1,260,180
			Net deferred income tax liabilities	$	1,677,046	$	1,260,180

Summary of Income Tax Contingencies [Table Text Block]

	Total Unrecognized Tax Benefits
	2011		2010		2009
Beginning balance, January 1	$	182,354	$	221,040	$	206,665
Additions for tax positions of prior years		7,968		17,255		25,148
Reductions for tax positions of prior years		--		(59,879)		(14,711)
Additions for tax positions of current year		3,938		3,938		3,938
Ending balance, December 31	$	194,260	$	182,354	$	221,040