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Consolidated Balance Sheets (USD $)
In Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2011
Dec. 31, 2010
ASSETS:    
Fixed maturities - available for sale, at market value (amortized cost: 2011, $5,098,886; 2010, $5,438,359) $ 5,299,902 $ 5,599,940
Fixed maturities - available for sale, at fair value 128,337 180,482
Equity securities - available for sale, at market value (cost: 2011, $15 2010, $15) 12 13
Equity securities - available for sale, at fair value 972,802 683,454
Short-term investments 566,111 516,885
Other invested assets (cost: 2011, $393,058; 2010, $405,401) 392,843 406,916
Other invested assets, at fair value 794,608 788,142
Cash 288,365 118,092
Total investments and cash 8,442,980 8,293,924
Accrued investment income 62,790 70,874
Premiums receivable 773,721 643,257
Reinsurance receivables - unaffiliated 685,233 670,168
Reinsurance receivables - affiliated 3,056,730 2,708,193
Funds held by reinsureds 177,553 171,179
Deferred acquisition costs 167,339 184,247
Prepaid reinsurance premiums 567,466 629,323
Deferred tax asset 150,594 183,924
Federal income taxes recoverable 147,127 142,421
Other assets 240,901 171,923
TOTAL ASSETS 14,472,434 13,869,433
LIABILITIES:    
Reserve for losses and loss adjustment expenses 8,275,580 7,652,303
Unearned premium reserve 1,187,555 1,287,476
Funds held under reinsurance treaties 178,453 180,377
Losses in the course of payment 29,875 13,089
Commission reserves 32,117 37,796
Other net payable to reinsurers 556,127 467,486
Revolving credit borrowings 40,000 50,000
5.4% Senior notes due 10/15/2014 249,835 249,812
6.6% Long term notes due 05/01/2067 238,352 238,351
Junior subordinated debt securities payable 329,897 329,897
Accrued interest on debt and borrowings 4,789 4,793
Other liabilities 272,363 230,312
Total liabilities 11,394,943 10,741,692
Commitments and Contingencies (Note 6)    
STOCKHOLDER'S EQUITY:    
Common stock, par value: $0.01; 3,000 shares authorized; 1,000 shares issued and outstanding (2011 and 2010)    
Additional paid-in capital 330,990 327,767
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of $107,272 at 2011 and $88,289 at 2010 199,219 163,966
Retained earnings 2,547,282 2,636,008
Total stockholder's equity 3,077,491 3,127,741
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 14,472,434 $ 13,869,433