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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 798,263 $ 520,329 $ (202,821)
Adjustments to reconcile net income to net cash provided by operating activities:      
Decrease (increase) in premiums receivable (175,854) (141,501) (214,581)
Decrease (increase) in funds held by reinsureds, net (12,075) (17,897) (62,082)
Decrease (increase) in reinsurance receivables 25,665 (152,887) (96,003)
Decrease (increase) in current income taxes 33,760 (22,149) 79,504
Decrease (increase) in deferred tax asset/liability 317,813 146,888 (187,967)
Decrease (increase) in prepaid reinsurance premiums (118,173) 68,312 3,655
Increase (decrease) in reserve for losses and loss adjustment expenses (439,560) (206,435) 674,001
Increase (decrease) in unearned premiums 228,097 (150,747) (46,182)
Increase (decrease) in other net payable to reinsurers 127,252 270,776 153,508
Increase (decrease) in losses in course of payment 171,829 169,698 (3,440)
Change in equity adjustments in limited partnerships (35,721) (38,579) (42,047)
Distribution of limited partnership income 24,133 19,490 41,249
Change in other assets and liabilities, net 25,049 44,032 72,989
Non-cash compensation expense 7,983 6,803 6,166
Amortization of bond premium (accrual of bond discount) 25,599 19,124 10,125
Amortization of underwriting discount on senior notes 54 52 49
Net realized capital (gains) losses (723,149) (391,702) 41,116
Net cash provided by (used in) operating activities 280,965 143,607 227,239
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from fixed maturities matured/called - available for sale, at market value 1,099,850 927,867 695,921
Proceeds from fixed maturities matured/called - available for sale, at fair value 7,213 1,300 12,775
Proceeds from fixed maturities sold - available for sale, at market value 598,342 476,491 1,209,150
Proceeds from fixed maturities sold - available for sale, at fair value 21,572 84,917 65,158
Proceeds from equity securities sold - available for sale, at market value     27,096
Proceeds from equity securities sold - available for sale, at fair value 612,516 546,463 237,849
Proceeds from sale of subsidiary to related party     61,005
Distributions from other invested assets 64,483 29,198 79,927
Cost of fixed maturities acquired - available for sale, at market value (1,611,791) (1,784,344) (1,455,940)
Cost of fixed maturities acquired - available for sale, at fair value (6,196) (7,955) (27,481)
Cost of equity securities acquired - available for sale, at market value     (27,059)
Cost of equity securities acquired - available for sale, at fair value (439,115) (404,051) (746,604)
Cost of other invested assets acquired (17,926) (51,512) (53,070)
Cost of other invested assets acquired, at fair value     (37,611)
Cost of businesses acquired     (63,100)
Net change in short-term investments (292,751) (42,027) 89,735
Net change in unsettled securities transactions (3,057) 35,075 13,467
Net cash provided by (used in) investing activities 33,140 (188,578) 81,218
CASH FLOWS FROM FINANCING ACTIVITIES:      
Tax benefit from share-based compensation 2,845 4 275
Revolving credit borrowings     (50,000)
Net cost of junior subordinated debt securities maturing (329,897)    
Net cash provided by (used in) financing activities (327,052) 4 (49,725)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (17,966) 44,420 (28,557)
Net increase (decrease) in cash (30,913) (547) 230,175
Cash, beginning of period 347,720 348,267 118,092
Cash, end of period 316,807 347,720 348,267
SUPPLEMENTAL CASH FLOW INFORMATION:      
Income taxes paid (recovered) 51,045 38,548 (62,137)
Interest paid 37,725 50,072 50,091
Non-cash transaction:      
Net assets acquired and liabilities assumed from business acquisitions     $ 19,130