Reserves For Losses And LAE (Tables)

12 Months Ended

Dec. 31, 2012

Reserve For Losses And LAE [Abstract]

Summary Of Activity In The Reserve For Losses And LAE

	At December 31,
(Dollars in thousands)	2012			2011			2010
Gross reserves at January 1	$	8,290,619		$	7,652,303		$	7,300,139
Less reinsurance recoverables		(3,374,427	)		(3,265,528	)		(3,051,704	)
Net reserves at January 1		4,916,192			4,386,775			4,248,435
Incurred related to:
Current year		1,237,486			1,862,836			1,414,604
Prior years		12,258			14,767			62,846
Total incurred losses and LAE		1,249,744			1,877,603			1,477,450
Paid related to:
Current year		365,805			447,182			277,177
Prior years		1,097,353			894,242			1,086,262
Total paid losses and LAE		1,463,158			1,341,424			1,363,438
Foreign exchange/translation adjustment		(4,693	)		(6,762	)		24,328
Net reserves at December 31		4,698,085			4,916,192			4,386,775
Plus reinsurance recoverables		3,444,970			3,374,427			3,265,528
Gross reserves at December 31	$	8,143,055		$	8,290,619		$	7,652,303
(Some amounts may not reconcile due to rounding.)

Summary Of Incurred Losses With Respect To A&E Reserve On Both Gross And Net Of Reinsurance Basis

	At December 31,
(Dollars in thousands)	2012			2011			2010
Gross basis:
Beginning of period reserves	$	499,911		$	554,790		$	638,674
Incurred losses		132			753			-
Paid losses		(57,222	)		(55,632	)		(83,884	)
End of period reserves	$	442,821		$	499,911		$	554,790
Net basis:
Beginning of period reserves	$	341,251		$	382,507		$	430,421
Incurred losses		17			(30	)		(300	)
Paid losses		(35,799	)		(41,226	)		(47,614	)
End of period reserves	$	305,469		$	341,251		$	382,507