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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income (loss) $ 155,985 $ 261 $ 496,362 $ (88,465)
Adjustments to reconcile net income to net cash provided by operating activities:        
Decrease (increase) in premiums receivable (233,296) (21,017) (129,749) (149,561)
Decrease (increase) in funds held by reinsureds, net 2,646 (94,290) (14,878) (102,102)
Decrease (increase) in reinsurance receivables (39,772) 112,376 (9,281) (243,523)
Decrease (increase) in current income taxes 18,495 16,559 23,123 15,515
Decrease (increase) in deferred tax asset 22,640 (137,225) 136,264 (122,876)
Decrease (increase) in prepaid reinsurance premiums (66,455) (33,514) 28,866 28,649
Increase (decrease) in reserve for losses and loss adjustment expenses (109,811) (96,587) (406,946) 489,779
Increase (decrease) in unearned premiums 98,935 29,928 (102,067) (73,434)
Increase (decrease) in other net payable to reinsurers 220,948 66,568 263,498 155,372
Change in equity adjustments in limited partnerships (8,800) (12,190) (28,850) (44,544)
Change in other assets and liabilities, net 59,520 28,444 158,864 44,148
Non-cash compensation expense 1,737 1,584 4,981 4,638
Amortization of bond premium (accrual of bond discount) 3,330 (17) 12,939 6,897
Amortization of underwriting discount on senior notes 13 12 38 36
Net realized capital (gains) losses (95,943) 179,036 (354,673) 206,744
Net cash provided by (used in) operating activities 30,172 39,928 78,491 127,273
CASH FLOWS FROM INVESTING ACTIVITIES:        
Proceeds from fixed maturities matured/called - available for sale, at market value 273,497 262,235 648,218 525,768
Proceeds from fixed maturities matured/called - available for sale, at fair value 1,300   1,300 12,775
Proceeds from fixed maturities sold - available for sale, at market value 114,610 255,913 290,911 1,042,803
Proceeds from fixed maturities sold - available for sale, at fair value 11,783 12,512 72,926 62,632
Proceeds from equity securities sold - available for sale, at market value       27,096
Proceeds from equity securities sold - available for sale, at fair value 85,277 61,080 377,157 150,776
Distributions from other invested assets 16,130 13,487 31,513 103,262
Cost of fixed maturities acquired - available for sale, at market value (404,009) (285,414) (1,066,080) (995,210)
Cost of fixed maturities acquired - available for sale, at fair value (1,658) (9,801) (7,164) (25,025)
Cost of equity securities acquired - available for sale, at market value       (27,059)
Cost of equity securities acquired - available for sale, at fair value (107,330) (340,493) (288,218) (679,764)
Cost of other invested assets acquired (20,065) (2,393) (43,831) (47,471)
Cost of other invested assets acquired, at fair value       (37,611)
Cost of businesses acquired       (63,100)
Net change in short-term investments (58,681) 29,080 (216,270) (18,105)
Net change in unsettled securities transactions 33,600 (14,007) 38,712 30,834
Net cash provided by (used in) investing activities (55,546) (17,801) (160,826) 62,601
CASH FLOWS FROM FINANCING ACTIVITIES:        
Tax benefit from share-based compensation (72) 73 81 242
Revolving credit borrowings   (40,000)   (50,000)
Net cash provided by (used in) financing activities (72) (39,927) 81 (49,758)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 28,772 (5,553) 43,046 6,804
Net increase (decrease) in cash 3,326 (23,353) (39,208) 146,920
Cash, beginning of period 305,733 288,365 348,267 118,092
Cash, end of period 309,059 265,012 309,059 265,012
SUPPLEMENTAL CASH FLOW INFORMATION:        
Income taxes paid (recovered) 27,119 4,149 36,498 (16,616)
Interest paid 5,202 5,228 30,244 30,269
Non-cash transaction:        
Net assets acquired and liabilities assumed from business acquisitions   $ 19,130   $ 19,130