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Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (USD $)
In Thousands, except Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues    
Gross premiums written$ 1,095,326$ 1,008,464$ 3,735,091$ 4,057,965
Net premiums written1,079,557987,6123,606,4443,884,511
Decrease (increase) in unearned premiums214,762325,802(140,091)(312,687)
Net premiums earned1,294,3191,313,4143,466,3533,571,824
Net investment income163,647164,402473,608511,978
Net realized and unrealized investment gains (losses)26,139293,164(7,860)484,683
Other income1,4343,3634,8435,391
Total revenues1,485,5391,774,3433,936,9444,573,876
Expenses    
Losses and loss expenses and life policy benefits881,626748,8793,303,3662,465,847
Acquisition costs262,489261,668699,589725,919
Other operating expenses103,822118,221321,813406,506
Interest expense12,21612,29736,73032,232
Amortization of intangible assets9,52010,00327,51222,639
Net foreign exchange (gains) losses(10,587)27,074(20,020)12,426
Total expenses1,259,0861,178,1424,368,9903,665,569
Income (loss) before taxes and interest in (losses) earnings of equity investments226,453596,201(432,046)908,307
Income tax expense41,80372,57665,632117,892
Interest in (losses) earnings of equity investments(4,527)1,312(4,970)5,103
Net income (loss)180,123524,937(502,648)795,518
Preferred dividends14,3528,63131,61425,894
Net income (loss) available to common shareholders165,771516,306(534,262)769,624
Comprehensive income (loss)    
Net income (loss)180,123524,937(502,648)795,518
Change in currency translation adjustment(54,958)107,572(10,874)(66,506)
Change in other accumulated comprehensive income (loss), net of tax1,106(1,260)(1,049)(6,514)
Comprehensive income (loss)$ 126,271$ 631,249$ (514,571)$ 722,498
Per share data    
Basic net income (loss)$ 2.45$ 6.86$ (7.88)$ 9.86
Diluted net income (loss)$ 2.43$ 6.76$ (7.88)$ 9.68
Weighted average number of common shares outstanding67,743,29675,238,32967,788,42778,076,561
Weighted average number of common shares and common share equivalents outstanding68,181,98276,428,46067,788,42779,494,247
Dividends declared per common share$ 0.60$ 0.50$ 1.75$ 1.50