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Consolidated Statements Of Operations And Comprehensive Income (Loss) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
REVENUES:        
Premiums earned $ 427,112 $ 442,862 $ 1,299,293 $ 1,354,305
Net investment income 76,342 78,325 231,790 249,916
Net realized capital gains (losses):        
Other-than-temporary impairments on fixed maturity securities (486) (911) (6,627) (14,522)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income (loss)            
Other net realized capital gains (losses) 96,429 (178,125) 361,300 (192,222)
Total net realized capital gains (losses) 95,943 (179,036) 354,673 (206,744)
Other income (expense) 425 (8,865) 19,599 (20,401)
Total revenues 599,822 333,286 1,905,355 1,377,076
CLAIMS AND EXPENSES:        
Incurred losses and loss adjustment expenses 242,877 322,099 786,851 1,187,936
Commission, brokerage, taxes and fees 70,464 70,842 251,320 239,659
Other underwriting expenses 45,938 42,708 126,551 120,148
Corporate expenses 2,019 1,143 5,317 3,498
Interest, fee and bond issue cost amortization expense 12,682 12,706 38,061 38,083
Total claims and expenses 373,980 449,498 1,208,100 1,589,324
INCOME (LOSS) BEFORE TAXES 225,842 (116,212) 697,255 (212,248)
Income tax expense (benefit) 69,857 (116,473) 200,893 (123,783)
NET INCOME (LOSS) 155,985 261 496,362 (88,465)
Other comprehensive income (loss), net of tax :        
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period 18,036 8,842 23,511 12,640
Less: reclassification adjustment for realized losses (gains) included in net income (loss) 261 (1,049) 1,696 19,661
Total URA(D) on securities arising during the period 18,297 7,793 25,207 32,301
Foreign currency translation adjustments 15,301 (4,558) 12,737 4,695
Pension adjustments 1,199 746 3,166 2,238
Other comprehensive income (loss), net of tax 34,797 3,981 41,110 39,234
COMPREHENSIVE INCOME (LOSS) $ 190,782 $ 4,242 $ 537,472 $ (49,231)