Unaudited Condensed Consolidated Balance Sheets (USD $) In Thousands	Jun. 30, 2011	Dec. 31, 2010
Assets
Fixed maturities, trading securities, at fair value (amortized cost: 2011, $13,984,225; 2010, $12,394,797)	$ 14,406,945	$ 12,824,389
Short-term investments, trading securities, at fair value (amortized cost: 2011, $216,881; 2010, $49,132)	215,692	49,397
Equities, trading securities, at fair value (cost: 2011, $880,222; 2010, $942,745)	994,913	1,071,676
Other invested assets	338,373	352,405
Total investments	15,955,923	14,297,867
Funds held - directly managed (cost: 2011, $1,362,997; 2010, $1,751,276)	1,379,513	1,772,118
Cash and cash equivalents, at fair value, which approximates amortized cost	1,606,842	2,111,084
Accrued investment income	181,806	201,928
Reinsurance balances receivable	2,517,586	2,076,884
Reinsurance recoverable on paid and unpaid losses	489,415	382,878
Funds held by reinsured companies	846,466	937,032
Deferred acquisition costs	661,564	595,557
Deposit assets	233,187	256,702
Net tax assets	32,358	14,960
Goodwill	455,533	455,533
Intangible assets	154,194	178,715
Other assets	85,535	83,113
Total assets	24,599,922	23,364,371
Liabilities
Unpaid losses and loss expenses	12,016,271	10,666,604
Policy benefits for life and annuity contracts	1,726,180	1,750,410
Unearned premiums	2,067,996	1,599,139
Other reinsurance balances payable	554,386	491,194
Deposit liabilities	243,033	268,239
Net tax liabilities	325,285	316,325
Accounts payable, accrued expenses and other	213,738	244,552
Debt related to senior notes	750,000	750,000
Debt related to capital efficient notes	70,989	70,989
Total liabilities	17,967,878	16,157,452
Shareholders' Equity
Common shares (par value $1.00; issued: 2011, 84,569,310 shares; 2010, 84,033,089 shares)	84,569	84,033
Preferred shares (par value $1.00; issued and outstanding: 2011, 35,750,000 shares; 2010, 20,800,000 shares; aggregate liquidation value: 2011, $893,750; 2010, $520,000)	35,750	20,800
Additional paid-in capital	3,792,057	3,419,864
Accumulated other comprehensive income:
Currency translation adjustment	60,185	16,101
Other accumulated comprehensive loss (net of tax of: 2011, $5,838; 2010, $4,872)	(14,200)	(12,045)
Retained earnings	3,983,398	4,761,178
Common shares held in treasury, at cost (2011, 16,831,534 shares; 2010, 14,046,895 shares)	(1,309,715)	(1,083,012)
Total shareholders' equity	6,632,044	7,206,919
Total liabilities and shareholders' equity	$ 24,599,922	$ 23,364,371