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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
ASSETS:    
Fixed maturities - available for sale, at market value (amortized cost: 2012, $5,289,619; 2011, $4,880,654) $ 5,531,410 $ 5,107,028
Fixed maturities - available for sale, at fair value 41,470 113,606
Equity securities - available for sale, at market value (cost: 2012, $15; 2011, $15) 13 10
Equity securities - available for sale, at fair value 1,199,848 1,207,053
Short-term investments 465,550 423,663
Other invested assets (cost: 2012, $420,744; 2011, $379,342) 420,744 379,342
Other invested assets, at fair value 1,068,711 817,352
Cash 347,720 348,267
Total investments and cash 9,075,466 8,396,321
Accrued investment income 54,914 55,849
Premiums receivable 1,001,267 856,375
Reinsurance receivables - unaffiliated 650,261 570,128
Reinsurance receivables - affiliated 2,976,992 2,901,174
Funds held by reinsureds 161,694 176,156
Deferred acquisition costs 97,522 166,806
Prepaid reinsurance premiums 557,460 625,391
Deferred tax asset 214,175 366,490
Income taxes recoverable 61,244 39,014
Other assets 236,955 195,476
TOTAL ASSETS 15,087,950 14,349,180
LIABILITIES:    
Reserve for losses and loss adjustment expenses 8,143,055 8,290,619
Unearned premium reserve 1,093,822 1,239,705
Funds held under reinsurance treaties 90,079 123,479
Losses in the course of payment 179,774 11,002
Commission reserves 39,324 40,353
Other net payable to reinsurers 900,794 629,871
5.4% Senior notes due 10/15/2014 249,907 249,858
6.6% Long term notes due 5/1/2067 238,357 238,354
Junior subordinated debt securities payable 329,897 329,897
Accrued interest on debt and borrowings 4,781 4,781
Unsettled securities payable 48,830 8,793
Other liabilities 290,724 241,075
Total liabilities 11,609,344 11,407,787
Commitments and Contingencies (Note 16)      
STOCKHOLDER'S EQUITY:    
Common stock, par value: $0.01; 3,000 shares authorized; 1,000 shares issued and outstanding (2012 and 2011)      
Additional paid-in capital 340,223 333,416
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of $99,544 at 2012 and $94,118 at 2011 184,867 174,790
Retained earnings 2,953,516 2,433,187
Total stockholder's equity 3,478,606 2,941,393
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 15,087,950 $ 14,349,180