10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED: September 30, 2015 Commission file number: 1-14527

EVEREST REINSURANCE HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

Delaware	22-3263609
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

477 Martinsville Road

Post Office Box 830

Liberty Corner, New Jersey 07938-0830

(908) 604-3000

(Address, including zip code, and telephone number, including area code,

of registrant's principal executive office)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

YES X NO

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

YES X NO

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer		Accelerated filer
Non-accelerated filer	X	Smaller reporting company
(Do not check if smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

YES NO X

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.

	Number of Shares Outstanding
Class	At November 1, 2015
Common Shares, $0.01 par value	1,000

The Registrant meets the conditions set forth in General Instruction H (1)(a) and (b) of Form 10-Q and is therefore filing this form with the reduced disclosure format permitted by General Instruction H of Form 10-Q.

EVEREST REINSURANCE HOLDINGS, INC.

Table of Contents

Form 10-Q

Page

PART I

FINANCIAL INFORMATION

Item 1.	Financial Statements
	Consolidated Balance Sheets at September 30, 2015 (unaudited) and
		December 31, 2014	1
	Consolidated Statements of Operations and Comprehensive Income (Loss) for the
		three and nine months ended September 30, 2015 and 2014 (unaudited)	2
	Consolidated Statements of Changes in Stockholder's Equity for the three and nine
		months ended September 30, 2015 and 2014 (unaudited)	3
	Consolidated Statements of Cash Flows for the nine months ended
		September 30, 2015 and 2014 (unaudited)	4
	Notes to Consolidated Interim Financial Statements (unaudited)		5
Item 2.	Management's Discussion and Analysis of Financial Condition and
		Results of Operation	28
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		44
Item 4.	Controls and Procedures		44

PART II

OTHER INFORMATION

Item 1.	Legal Proceedings	44
Item 1A.	Risk Factors	45
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	45
Item 3.	Defaults Upon Senior Securities	45
Item 4.	Mine Safety Disclosures	45
Item 5.	Other Information	45
Item 6.	Exhibits	45

EVEREST REINSURANCE HOLDINGS, INC.

CONSOLIDATED BALANCE SHEETS

	September 30,			December 31,
(Dollars in thousands, except par value per share)	2015			2014
	(unaudited)
ASSETS:
Fixed maturities - available for sale, at market value	$	5,384,362		$	5,293,411
(amortized cost: 2015, $5,327,880; 2014, $5,235,523)
Fixed maturities - available for sale, at fair value		-			1,509
Equity securities - available for sale, at market value (cost: 2015, $0; 2014, $15)		-			16
Equity securities - available for sale, at fair value		1,199,347			1,299,037
Short-term investments		382,233			564,364
Other invested assets (cost: 2015, $427,980; 2014, $435,010)		427,980			435,010
Other invested assets, at fair value		1,684,860			1,655,311
Cash		276,132			323,975
Total investments and cash		9,354,914			9,572,633
Note receivable - affiliated		250,000			250,000
Accrued investment income		48,522			45,386
Premiums receivable		1,306,646			1,086,203
Reinsurance receivables - unaffiliated		712,958			659,303
Reinsurance receivables - affiliated		3,459,615			3,372,715
Funds held by reinsureds		181,146			182,159
Deferred acquisition costs		89,267			109,262
Prepaid reinsurance premiums		849,228			809,083
Other assets		298,322			235,576
TOTAL ASSETS	$	16,550,618		$	16,322,320
LIABILITIES:
Reserve for losses and loss adjustment expenses	$	7,878,119		$	7,843,856
Unearned premium reserve		1,468,945			1,442,122
Funds held under reinsurance treaties		101,842			101,743
Losses in the course of payment		310,398			178,521
Commission reserves		52,936			63,110
Other net payable to reinsurers		971,929			1,028,549
4.868% Senior notes due 6/1/2044		400,000			400,000
6.6% Long term notes due 5/1/2067		238,367			238,364
Accrued interest on debt and borrowings		12,341			3,537
Income taxes		24,378			46,835
Unsettled securities payable		39,309			41,092
Other liabilities		264,795			361,874
Total liabilities		11,763,359			11,749,603
Commitments and Contingencies (Note 6)
STOCKHOLDER'S EQUITY:
Common stock, par value: $0.01; 3,000 shares authorized;
1,000 shares issued and outstanding (2015 and 2014)		-			-
Additional paid-in capital		372,566			362,293
Accumulated other comprehensive income (loss), net of deferred income tax expense
(benefit) of ($19,525) at 2015 and $2,434 at 2014		(36,263	)		4,519
Retained earnings		4,450,956			4,205,905
Total stockholder's equity		4,787,259			4,572,717
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$	16,550,618		$	16,322,320
The accompanying notes are an integral part of the consolidated financial statements.

1

EVEREST REINSURANCE HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE INCOME (LOSS)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
	(unaudited)						(unaudited)
REVENUES:
Premiums earned	$	546,050		$	569,597		$	1,588,536		$	1,560,778
Net investment income		63,363			83,446			206,869			215,869
Net realized capital gains (losses):
Other-than-temporary impairments on fixed maturity securities		(10,502	)		-			(43,433	)		(199	)
Other-than-temporary impairments on fixed maturity securities
transferred to other comprehensive income (loss)		-			-			-			-
Realized gain on sale of subsidiary		94,704			-			94,704			-
Other net realized capital gains (losses)		(111,193	)		(160	)		(100,445	)		121,103
Total net realized capital gains (losses)		(121,695	)		(160	)		(49,174	)		120,904
Other income (expense)		10,828			(3,739	)		38,950			(15,576	)
Total revenues		498,546			649,144			1,785,181			1,881,975
CLAIMS AND EXPENSES:
Incurred losses and loss adjustment expenses		370,754			380,580			1,002,513			980,143
Commission, brokerage, taxes and fees		72,151			79,168			241,635			240,584
Other underwriting expenses		56,953			50,623			157,069			137,032
Corporate expenses		1,637			4,620			5,031			5,398
Interest, fee and bond issue cost amortization expense		8,859			12,292			26,576			28,539
Total claims and expenses		510,354			527,283			1,432,824			1,391,696
INCOME (LOSS) BEFORE TAXES		(11,808	)		121,861			352,357			490,279
Income tax expense (benefit)		(7,149	)		21,720			107,306			145,498
NET INCOME (LOSS)	$	(4,659	)	$	100,141		$	245,051		$	344,781
Other comprehensive income (loss), net of tax:
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period		(29,878	)		(26,221	)		(49,866	)		13,678
Less: reclassification adjustment for realized losses (gains) included in net income (loss)		11,625			(696	)		48,951			1,459
Total URA(D) on securities arising during the period		(18,253	)		(26,917	)		(915	)		15,137
Foreign currency translation adjustments		(27,473	)		(7,472	)		(44,636	)		(8,587	)
Benefit plan actuarial net gain (loss) for the period		-			-			-			-
Reclassification adjustment for amortization of net (gain) loss included in net income (loss)		1,556			825			4,769			2,366
Total benefit plan net gain (loss) for the period		1,556			825			4,769			2,366
Total other comprehensive income (loss), net of tax		(44,170	)		(33,564	)		(40,782	)		8,916
COMPREHENSIVE INCOME (LOSS)	$	(48,829	)	$	66,577		$	204,269		$	353,697
The accompanying notes are an integral part of the consolidated financial statements.

2

EVEREST REINSURANCE HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF

CHANGES IN STOCKHOLDER'S EQUITY

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands, except share amounts)	2015			2014			2015			2014
	(unaudited)						(unaudited)
COMMON STOCK (shares outstanding):
Balance, beginning of period		1,000			1,000			1,000			1,000
Balance, end of period		1,000			1,000			1,000			1,000
ADDITIONAL PAID-IN CAPITAL:
Balance, beginning of period	$	369,284		$	357,537		$	362,293		$	351,051
Share-based compensation plans		3,282			2,453			10,273			8,939
Balance, end of period		372,566			359,990			372,566			359,990
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS),
NET OF DEFERRED INCOME TAXES:
Balance, beginning of period		7,907			130,128			4,519			87,648
Net increase (decrease) during the period		(44,170	)		(33,564	)		(40,782	)		8,916
Balance, end of period		(36,263	)		96,564			(36,263	)		96,564
RETAINED EARNINGS:
Balance, beginning of period		4,455,615			3,996,419			4,205,905			3,751,779
Net income (loss)		(4,659	)		100,141			245,051			344,781
Balance, end of period		4,450,956			4,096,560			4,450,956			4,096,560
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	4,787,259		$	4,553,114		$	4,787,259		$	4,553,114
The accompanying notes are an integral part of the consolidated financial statements.

3

EVEREST REINSURANCE HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Nine Months Ended
	September 30,
(Dollars in thousands)	2015			2014
	(unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	245,051		$	344,781
Adjustments to reconcile net income to net cash provided by operating activities:
Decrease (increase) in premiums receivable		(225,922	)		(237,390	)
Decrease (increase) in funds held by reinsureds, net		589			762
Decrease (increase) in reinsurance receivables		(169,328	)		(778,374	)
Decrease (increase) in income taxes		(212	)		12,264
Decrease (increase) in prepaid reinsurance premiums		(44,177	)		(198,306	)
Increase (decrease) in reserve for losses and loss adjustment expenses		107,006			150,411
Increase (decrease) in unearned premiums		34,627			241,650
Increase (decrease) in other net payable to reinsurers		(50,813	)		353,468
Increase (decrease) in losses in course of payment		133,244			164,072
Change in equity adjustments in limited partnerships		(16,409	)		(17,643	)
Distribution of limited partnership income		36,883			32,548
Change in other assets and liabilities, net		(2,719	)		(2,744	)
Non-cash compensation expense		6,303			5,700
Amortization of bond premium (accrual of bond discount)		13,978			14,502
Amortization of underwriting discount on senior notes		3			43
Net realized capital (gains) losses		49,174			(120,904	)
Net cash provided by (used in) operating activities		117,278			(35,160	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from fixed maturities matured/called - available for sale, at market value		696,268			829,363
Proceeds from fixed maturities matured/called - available for sale, at fair value		-			875
Proceeds from fixed maturities sold - available for sale, at market value		418,284			547,682
Proceeds from fixed maturities sold - available for sale, at fair value		1,824			23,855
Proceeds from equity securities sold - available for sale, at market value		16			-
Proceeds from equity securities sold - available for sale, at fair value		442,276			404,627
Proceeds from sale of subsidiary (net of cash disposed)		3,934			-
Distributions from other invested assets		36,130			41,854
Cost of fixed maturities acquired - available for sale, at market value		(1,403,187	)		(2,008,937	)
Cost of fixed maturities acquired - available for sale, at fair value		(234	)		(23,684	)
Cost of equity securities acquired - available for sale, at fair value		(442,306	)		(237,749	)
Cost of other invested assets acquired		(49,575	)		(76,717	)
Net change in short-term investments		176,876			97,262
Net change in unsettled securities transactions		(12,069	)		(9,474	)
Net cash provided by (used in) investing activities		(131,763	)		(411,043	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Tax benefit from share-based compensation		3,970			3,239
Net proceeds from issuance of senior notes		-			400,000
Net cash provided by (used in) financing activities		3,970			403,239
EFFECT OF EXCHANGE RATE CHANGES ON CASH		(37,328	)		1,575
Net increase (decrease) in cash		(47,843	)		(41,389	)
Cash, beginning of period		323,975			316,807
Cash, end of period	$	276,132		$	275,418
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid (recovered)	$	104,727		$	129,608
Interest paid		17,608			14,719
The accompanying notes are an integral part of the consolidated financial statements.

4

NOTES TO CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED)

For the Three and Nine Months Ended September 30, 2015 and 2014

1.GENERAL

As used in this document, "Holdings" means Everest Reinsurance Holdings, Inc., a Delaware company and direct subsidiary of Everest Underwriting Group (Ireland) Limited ("Holdings Ireland"); "Group" means Everest Re Group, Ltd. (Holdings Ireland's parent); "Bermuda Re" means Everest Reinsurance (Bermuda), Ltd., a subsidiary of Group; "Everest Re" means Everest Reinsurance Company and its subsidiaries, a subsidiary of Holdings (unless the context otherwise requires); "Mt. Logan Re" means Mt. Logan Re Ltd., a subsidiary of Group; and the "Company" means Holdings and its subsidiaries.

Effective July 13, 2015, the Company sold all of the outstanding shares of capital stock of a wholly-owned subsidiary entity, Mt. McKinley Insurance Company ("Mt. McKinley"), to Clearwater Insurance Company. The operating results of Mt. McKinley through July 13, 2015 are included within the Company's financial statements.

2.BASIS OF PRESENTATION

The unaudited consolidated financial statements of the Company for the three and nine months ended September 30, 2015 and 2014 include all adjustments, consisting of normal recurring accruals, which, in the opinion of management, are necessary for a fair statement of the results on an interim basis.  Certain financial information, which is normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"), has been omitted since it is not required for interim reporting purposes. The December 31, 2014 consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP.  The results for the three and nine months ended September 30, 2015 and 2014 are not necessarily indicative of the results for a full year.  These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the years ended December 31, 2014, 2013 and 2012 included in the Company's most recent Form 10-K filing.

All intercompany accounts and transactions have been eliminated.

Application of Recently Issued Accounting Standard Changes

No accounting standards or guidance have been issued recently that would have a material impact on the Company's financial statements or financial reporting process.

5

3.INVESTMENTS

The amortized cost, market value and gross unrealized appreciation and depreciation of available for sale, fixed maturity, equity security investments, carried at market value and other-than-temporary impairments ("OTTI") in accumulated other comprehensive income ("AOCI") are as follows for the periods indicated:

	At September 30, 2015
	Amortized		Unrealized		Unrealized			Market		OTTI in AOCI
(Dollars in thousands)	Cost		Appreciation		Depreciation			Value		(a)
Fixed maturity securities
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	222,879	$	4,634	$	(69	)	$	227,444	$	-
Obligations of U.S. states and political subdivisions		683,715		32,088		(1,524	)		714,279		-
Corporate securities		2,012,649		35,136		(48,623	)		1,999,162		6
Asset-backed securities		132,004		689		(232	)		132,461		-
Mortgage-backed securities
Commercial		62,616		1,960		(55	)		64,521		-
Agency residential		720,508		7,833		(2,306	)		726,035		-
Non-agency residential		141		27		-			168		-
Foreign government securities		448,501		25,864		(9,658	)		464,707		-
Foreign corporate securities		1,044,867		33,424		(22,706	)		1,055,585		16
Total fixed maturity securities	$	5,327,880	$	141,655	$	(85,173	)	$	5,384,362	$	22
Equity securities	$	-	$	-	$	-		$	-	$	-

	At December 31, 2014
	Amortized		Unrealized		Unrealized			Market		OTTI in AOCI
(Dollars in thousands)	Cost		Appreciation		Depreciation			Value		(a)
Fixed maturity securities
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	135,724	$	1,416	$	(304	)	$	136,836	$	-
Obligations of U.S. states and political subdivisions		783,129		41,969		(626	)		824,472		-
Corporate securities		1,992,200		39,954		(53,219	)		1,978,935		(9,735	)
Asset-backed securities		94,470		727		(374	)		94,823		-
Mortgage-backed securities
Commercial		57,027		2,292		(51	)		59,268		-
Agency residential		596,140		6,697		(4,720	)		598,117		-
Non-agency residential		271		44		-			315		-
Foreign government securities		515,016		27,415		(5,344	)		537,087		-
Foreign corporate securities		1,061,546		27,832		(25,820	)		1,063,558		-
Total fixed maturity securities	$	5,235,523	$	148,346	$	(90,458	)	$	5,293,411	$	(9,735	)
Equity securities	$	15	$	1	$	-		$	16	$	-

^(a)  Represents the amount of OTTI recognized in AOCI.  Amount includes unrealized gains and losses on impaired securities relating to changes in the value of such securities subsequent to the impairment measurement date.

6

The amortized cost and market value of fixed maturity securities are shown in the following tables by contractual maturity. Mortgage-backed securities are generally more likely to be prepaid than other fixed maturity securities. As the stated maturity of such securities may not be indicative of actual maturities, the totals for mortgage-backed and asset-backed securities are shown separately.

	At September 30, 2015				At December 31, 2014
	Amortized		Market		Amortized		Market
(Dollars in thousands)	Cost		Value		Cost		Value
Fixed maturity securities – available for sale
Due in one year or less	$	345,345	$	345,322	$	385,721	$	384,022
Due after one year through five years		2,495,023		2,506,790		2,387,533		2,369,917
Due after five years through ten years		970,585		971,624		1,025,221		1,029,077
Due after ten years		601,658		637,441		689,140		757,872
Asset-backed securities		132,004		132,461		94,470		94,823
Mortgage-backed securities
Commercial		62,616		64,521		57,027		59,268
Agency residential		720,508		726,035		596,140		598,117
Non-agency residential		141		168		271		315
Total fixed maturity securities	$	5,327,880	$	5,384,362	$	5,235,523	$	5,293,411

The changes in net unrealized appreciation (depreciation) for the Company's investments are derived from the following sources for the periods as indicated:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Increase (decrease) during the period between the market value and cost
of investments carried at market value, and deferred taxes thereon:
Fixed maturity securities	$	(28,103	)	$	(41,410	)	$	(11,164	)	$	23,285
Fixed maturity securities, other-than-temporary impairment		22			-			9,757			-
Equity securities		-			1			(1	)		3
Change in unrealized  appreciation (depreciation), pre-tax		(28,081	)		(41,409	)		(1,408	)		23,288
Deferred tax benefit (expense)		9,835			14,492			3,907			(8,151	)
Deferred tax benefit (expense), other-than-temporary impairment		(7	)		-			(3,414	)		-
Change in unrealized appreciation (depreciation),
net of deferred taxes, included in stockholder's equity	$	(18,253	)	$	(26,917	)	$	(915	)	$	15,137

The Company frequently reviews all of its fixed maturity, available for sale securities for declines in market value and focuses its attention on securities whose fair value has fallen below 80% of their amortized cost at the time of review.  The Company then assesses whether the decline in value is temporary or other-than-temporary.  In making its assessment, the Company evaluates the current market and interest rate environment as well as specific issuer information.  Generally, a change in a security's value caused by a change in the market, interest rate or foreign exchange environment does not constitute an other-than-temporary impairment, but rather a temporary decline in market value.  Temporary declines in market value are recorded as unrealized losses in accumulated other comprehensive income (loss).  If the Company determines that the decline is other-than-temporary and the Company does not have the intent to sell the security; and it is more likely than not that the Company will not have to sell the security before recovery of its cost basis, the carrying value of the investment is written down to fair value.  The fair value adjustment that is credit or foreign exchange related is recorded in net realized capital gains (losses) in the Company's consolidated statements of operations and comprehensive income (loss). The fair value adjustment that is non-credit related is recorded as a component of other comprehensive income (loss), net of tax, and is included in accumulated other comprehensive income (loss) in the Company's consolidated balance sheets.  The Company's assessments are based on the issuers current and expected future financial position, timeliness with respect to interest and/or principal payments, speed of repayments and any applicable credit enhancements or breakeven constant default rates on mortgage-backed and asset-backed securities, as well as relevant information provided by rating agencies, investment advisors and analysts.

7

The majority of the Company's equity securities available for sale at market value are primarily comprised of mutual fund investments whose underlying securities consist of fixed maturity securities.  When a fund's value reflects an unrealized loss, the Company assesses whether the decline in value is temporary or other-than-temporary.  In making its assessment, the Company considers the composition of its portfolios and their related markets, reports received from the portfolio managers and discussions with portfolio managers.  If the Company determines that the declines are temporary and it has the ability and intent to continue to hold the investments, then the declines are recorded as unrealized losses in accumulated other comprehensive income (loss).  If declines are deemed to be other-than-temporary, then the carrying value of the investment is written down to fair value and recorded in net realized capital gains (losses) in the Company's consolidated statements of operations and comprehensive income (loss).

Retrospective adjustments are employed to recalculate the values of asset-backed securities. All of the Company's asset-backed and mortgage-backed securities have a pass-through structure. Each acquisition lot is reviewed to recalculate the effective yield. The recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition. Outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities. Conditional prepayment rates, computed with life to date factor histories and weighted average maturities, are used in the calculation of projected prepayments for pass-through security types.

The tables below display the aggregate market value and gross unrealized depreciation of fixed maturity and equity securities, by security type and contractual maturity, in each case subdivided according to length of time that individual securities had been in a continuous unrealized loss position for the periods indicated:

	Duration of Unrealized Loss at September 30, 2015 By Security Type
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities - available for sale
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	201	$	(1	)	$	1,844	$	(68	)	$	2,045	$	(69	)
Obligations of U.S. states and political subdivisions		20,162		(316	)		35,460		(1,208	)		55,622		(1,524	)
Corporate securities		647,568		(34,098	)		291,894		(14,525	)		939,462		(48,623	)
Asset-backed securities		49,224		(203	)		8,601		(29	)		57,825		(232	)
Mortgage-backed securities
Commercial		6,003		(55	)		-		-			6,003		(55	)
Agency residential		97,964		(762	)		157,863		(1,544	)		255,827		(2,306	)
Non-agency residential		-		-			-		-			-		-
Foreign government securities		115,876		(3,827	)		66,812		(5,831	)		182,688		(9,658	)
Foreign corporate securities		286,978		(18,810	)		72,392		(3,896	)		359,370		(22,706	)
Total fixed maturity securities	$	1,223,976	$	(58,072	)	$	634,866	$	(27,101	)	$	1,858,842	$	(85,173	)
Equity securities		-		-			-		-			-		-
Total	$	1,223,976	$	(58,072	)	$	634,866	$	(27,101	)	$	1,858,842	$	(85,173	)

	Duration of Unrealized Loss at September 30, 2015 By Maturity
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities
Due in one year or less	$	36,780	$	(1,633	)	$	17,019	$	(1,710	)	$	53,799	$	(3,343	)
Due in one year through five years		594,454		(29,341	)		304,349		(15,213	)		898,803		(44,554	)
Due in five years through ten years		382,520		(23,273	)		109,012		(7,616	)		491,532		(30,889	)
Due after ten years		57,031		(2,805	)		38,022		(989	)		95,053		(3,794	)
Asset-backed securities		49,224		(203	)		8,601		(29	)		57,825		(232	)
Mortgage-backed securities		103,967		(817	)		157,863		(1,544	)		261,830		(2,361	)
Total fixed maturity securities	$	1,223,976	$	(58,072	)	$	634,866	$	(27,101	)	$	1,858,842	$	(85,173	)

8

The aggregate market value and gross unrealized losses related to investments in an unrealized loss position at September 30, 2015 were $1,858,842 thousand and $85,173 thousand, respectively.  The market value of securities for the single issuer whose securities comprised the largest unrealized loss position at September 30, 2015, did not exceed 0.3% of the overall market value of the Company's fixed maturity securities.  In addition, as indicated on the above table, there was no significant concentration of unrealized losses in any one market sector.  The $58,072 thousand of unrealized losses related to fixed maturity securities that have been in an unrealized loss position for less than one year were primarily comprised of domestic and foreign corporate securities and foreign government securities.  The majority of these unrealized losses are attributable to unrealized losses in the energy sector, $36,358 thousand, as falling oil prices disrupted the market values for this sector, particularly for oil exploration, production and servicing companies and unrealized foreign exchange losses, $11,313 thousand, as the U.S. dollar has strengthened against other currencies. The $27,101 thousand of unrealized losses related to fixed maturity securities in an unrealized loss position for more than one year related primarily to domestic and foreign corporate securities, foreign government securities and agency residential mortgage-backed securities. The majority of these unrealized losses are attributable to unrealized foreign exchange losses, $13,322 thousand, as the U.S. dollar has strengthened against other currencies and unrealized losses in the energy sector, $5,056 thousand, as falling oil prices disrupted the market values for this sector, particularly for oil exploration, production and servicing companies. The Company did not have any sub-prime or alt-A loans with gross unrealized depreciation at September 30, 2015.  In all instances, there were no projected cash flow shortfalls to recover the full book value of the investments and the related interest obligations.  The mortgage-backed securities still have excess credit coverage and are current on interest and principal payments.

The Company, given the size of its investment portfolio and capital position, does not have the intent to sell these securities; and it is more likely than not that the Company will not have to sell the security before recovery of its cost basis.  In addition, all securities currently in an unrealized loss position are current with respect to principal and interest payments.

The tables below display the aggregate market value and gross unrealized depreciation of fixed maturity and equity securities, by security type and contractual maturity, in each case subdivided according to length of time that individual securities had been in a continuous unrealized loss position for the periods indicated:

	Duration of Unrealized Loss at December 31, 2014 By Security Type
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities - available for sale
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	13,187	$	(20	)	$	26,897	$	(284	)	$	40,084	$	(304	)
Obligations of U.S. states and political subdivisions		20,428		(242	)		18,199		(384	)		38,627		(626	)
Corporate securities		830,928		(48,891	)		171,207		(4,328	)		1,002,135		(53,219	)
Asset-backed securities		62,451		(374	)		-		-			62,451		(374	)
Mortgage-backed securities
Commercial		11,742		(51	)		-		-			11,742		(51	)
Agency residential		24,230		(59	)		267,824		(4,661	)		292,054		(4,720	)
Non-agency residential		-		-			-		-			-		-
Foreign government securities		45,521		(913	)		53,086		(4,431	)		98,607		(5,344	)
Foreign corporate securities		228,733		(21,704	)		117,713		(4,116	)		346,446		(25,820	)
Total fixed maturity securities	$	1,237,220	$	(72,254	)	$	654,926	$	(18,204	)	$	1,892,146	$	(90,458	)
Equity securities		-		-			-		-			-		-
Total	$	1,237,220	$	(72,254	)	$	654,926	$	(18,204	)	$	1,892,146	$	(90,458	)

9

	Duration of Unrealized Loss at December 31, 2014 By Maturity
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities
Due in one year or less	$	12,858	$	(550	)	$	53,528	$	(4,224	)	$	66,386	$	(4,774	)
Due in one year through five years		622,137		(51,262	)		243,192		(6,306	)		865,329		(57,568	)
Due in five years through ten years		467,187		(18,958	)		66,630		(2,018	)		533,817		(20,976	)
Due after ten years		36,615		(1,000	)		23,752		(995	)		60,367		(1,995	)
Asset-backed securities		62,451		(374	)		-		-			62,451		(374	)
Mortgage-backed securities		35,972		(110	)		267,824		(4,661	)		303,796		(4,771	)
Total fixed maturity securities	$	1,237,220	$	(72,254	)	$	654,926	$	(18,204	)	$	1,892,146	$	(90,458	)

The aggregate market value and gross unrealized losses related to investments in an unrealized loss position at December 31, 2014 were $1,892,146 thousand and $90,458 thousand, respectively.  The market value of securities for the single issuer whose securities comprised the largest unrealized loss position at December 31, 2014, did not exceed 0.3% of the overall market value of the Company's fixed maturity securities.  In addition, as indicated on the above table, there was no significant concentration of unrealized losses in any one market sector.  The $72,254 thousand of unrealized losses related to fixed maturity securities that have been in an unrealized loss position for less than one year were primarily comprised of domestic and foreign corporate securities.  The majority of these unrealized losses are attributable to unrealized losses in the energy sector, $53,772 thousand, as falling oil prices disrupted the market values for this sector, particularly for oil exploration, production and servicing companies during the fourth quarter of 2014 and unrealized foreign exchange losses, $7,298 thousand, as the U.S. dollar has strengthened against other currencies. The $18,204 thousand of unrealized losses related to fixed maturity securities in an unrealized loss position for more than one year related primarily to agency residential mortgage-backed securities, foreign and domestic corporate securities and foreign government securities.  Of these unrealized losses, $16,680 thousand were related to securities that were rated investment grade by at least one nationally recognized statistical rating organization.  The Company did not have any sub-prime or alt-A loans with gross unrealized depreciation at December 31, 2014.  In all instances, there were no projected cash flow shortfalls to recover the full book value of the investments and the related interest obligations.  The mortgage-backed securities still have excess credit coverage and are current on interest and principal payments.

Other invested assets, at fair value, are comprised of common shares of the Company's ultimate parent, Group.  At September 30, 2015, the Company held 9,719,971 shares of Group representing 18% of the total outstanding shares.

The components of net investment income are presented in the tables below for the periods indicated:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Fixed maturities	$	46,414		$	52,515		$	140,829		$	157,515
Equity securities		8,004			7,966			26,638			26,083
Short-term investments and cash		220			196			705			841
Other invested assets
Limited partnerships		3,021			19,254			17,676			18,862
Dividends from Parent's shares		9,234			7,290			27,702			21,870
Other		(242	)		869			1,366			3,220
Gross investment income before adjustments		66,651			88,090			214,916			228,391
Funds held interest income (expense)		940			970			4,326			4,262
Interest income from Parent		1,075			-			3,225			-
Gross investment income		68,666			89,060			222,467			232,653
Investment expenses		(5,303	)		(5,614	)		(15,598	)		(16,784	)
Net investment income	$	63,363		$	83,446		$	206,869		$	215,869

10

The Company records results from limited partnership investments on the equity method of accounting with changes in value reported through net investment income. Due to the timing of receiving financial information from these partnerships, the results are generally reported on a one month or quarter lag.  If the Company determines there has been a significant decline in value of a limited partnership during this lag period, a loss will be recorded in the period in which the Company identifies the decline.

The Company had contractual commitments to invest up to an additional $245,663 thousand in limited partnerships at September 30, 2015.  These commitments will be funded when called in accordance with the partnership agreements, which have investment periods that expire, unless extended, through 2019.

The components of net realized capital gains (losses) are presented in the tables below for the periods indicated:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Fixed maturity securities, market value:
Other-than-temporary impairments	$	(10,502	)	$	-		$	(43,433	)	$	(199	)
Gains (losses) from sales		(6,636	)		1,070			(30,362	)		(1,855	)
Fixed maturity securities, fair value:
Gains (losses) from sales		(17	)		82			25			1,022
Gains (losses) from fair value adjustments		-			(938	)		56			(938	)
Equity securities, market value:
Gains (losses) from sales		-			-			1			-
Equity securities, fair value:
Gains (losses) from sales		(13,656	)		(2,589	)		(14,010	)		(2,204	)
Gains (losses) from fair value adjustments		(101,322	)		(12,559	)		(85,710	)		65,399
Other invested assets, fair value:
Gains (losses) from fair value adjustments		(84,272	)		14,775			29,549			59,681
Gain on sale of subsidiary		94,704			-			94,704			-
Short-term investment gains (losses)		6			(1	)		6			(2	)
Total net realized capital gains (losses)	$	(121,695	)	$	(160	)	$	(49,174	)	$	120,904

The Company recorded as net realized capital gains (losses) in the consolidated statements of operations and comprehensive income (loss) both fair value re-measurements and write-downs in the value of securities deemed to be impaired on an other-than-temporary basis as displayed in the table above.  The Company had no other-than-temporary impaired securities where the impairment had both a credit and non-credit component.

On July 13, 2015, the Company sold Mt. McKinley, a Delaware domiciled insurance company and wholly-owned subsidiary of the Company to Clearwater Insurance Company, a Delaware domiciled insurance company.  The purchase price of $20,156 thousand was based upon the statutory book value of Mt. McKinley as of the closing date. The Company recognized a pre-tax realized gain of $94,704 thousand on the sale of Mt. McKinley.

11

The proceeds and split between gross gains and losses, from sales of fixed maturity and equity securities, are presented in the tables below for the periods indicated:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Proceeds from sales of fixed maturity securities	$	130,284		$	222,915		$	420,108		$	571,537
Gross gains from sales		1,401			4,408			9,039			10,698
Gross losses from sales		(8,054	)		(3,256	)		(39,376	)		(11,531	)
Proceeds from sales of equity securities	$	138,799		$	111,684		$	442,292		$	404,627
Gross gains from sales		5,241			1,697			17,655			12,019
Gross losses from sales		(18,896	)		(4,286	)		(31,664	)		(14,223	)

4.FAIR VALUE

GAAP guidance regarding fair value measurements address how companies should measure fair value when they are required to use fair value measures for recognition or disclosure purposes under GAAP and provides a common definition of fair value to be used throughout GAAP.  It defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly fashion between market participants at the measurement date.  In addition, it establishes a three-level valuation hierarchy for the disclosure of fair value measurements.  The valuation hierarchy is based on the transparency of inputs to the valuation of an asset or liability.  The level in the hierarchy within which a given fair value measurement falls is determined based on the lowest level input that is significant to the measurement, with Level 1 being the highest priority and Level 3 being the lowest priority.

The levels in the hierarchy are defined as follows:

Level 1: Inputs to the valuation methodology are observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in an active market;

Level 2: Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument;

Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The Company's fixed maturity and equity securities are primarily managed by third party investment asset managers.  The investment asset managers obtain prices from nationally recognized pricing services.   These services seek to utilize market data and observations in their evaluation process.  They use pricing applications that vary by asset class and incorporate available market information and when fixed maturity securities do not trade on a daily basis the services will apply available information through processes such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing.  In addition, they use model processes, such as the Option Adjusted Spread model to develop prepayment and interest rate scenarios for securities that have prepayment features.

In limited instances where prices are not provided by pricing services or in rare instances when a manager may not agree with the pricing service, price quotes on a non-binding basis are obtained from investment brokers.  The investment asset managers do not make any changes to prices received from either the pricing services or the investment brokers.  In addition, the investment asset managers have procedures in place to review the reasonableness of the prices from the service providers and may request verification of the prices.  In addition, the Company continually performs analytical reviews of price changes and tests the prices on a random basis to an independent pricing source.   No material variances were noted during these price validation procedures.  In limited situations, where financial markets are inactive or illiquid, the Company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value.  Due to the unavailability of prices for one private placement security, the Company

12

valued the security at $6,125 thousand at September 30, 2015 and made no such adjustments at December 31, 2014

The Company internally manages a small public equity portfolio which had a fair value at September 30, 2015 and December 31, 2014 of $114,519 thousand and $96,890 thousand, respectively, and all prices were obtained from publically published sources.

Equity securities denominated in U.S. currency with quoted prices in active markets for identical assets are categorized as level 1 since the quoted prices are directly observable.  Equity securities traded on foreign exchanges are categorized as level 2 due to the added input of a foreign exchange conversion rate to determine fair or market value.  The Company uses foreign currency exchange rates published by nationally recognized sources.

All categories of fixed maturity securities listed in the tables below are generally categorized as level 2, since a particular security may not have traded but the pricing services are able to use valuation models with observable market inputs such as interest rate yield curves and prices for similar fixed maturity securities in terms of issuer, maturity and seniority.  For foreign government securities and foreign corporate securities, the fair values provided by the third party pricing services in local currencies, and where applicable, are converted to U.S. dollars using currency exchange rates from nationally recognized sources.

The fixed maturities with fair values categorized as level 3 result when prices are not available from the nationally recognized pricing services.  The asset managers will then obtain non-binding price quotes for the securities from brokers. The single broker quotes are provided by market makers or broker-dealers who are recognized as market participants in the markets in which they are providing the quotes.  The prices received from brokers are reviewed for reasonableness by the third party asset managers and the Company.  If the broker quotes are for foreign denominated securities, the quotes are converted to U.S. dollars using currency exchange rates from nationally recognized sources.  Historically, most of the level 3 fixed maturities have resulted from new issuances and the third party prices services have not yet included the issuance in their data base.  Generally, in subsequent measurement periods, the issuances will be included in the data base and the fair value will transfer to level 2.

The composition and valuation inputs for the presented fixed maturities categories are as follows:

· U.S. Treasury securities and obligations of U.S. government agencies and corporations are primarily comprised of U.S. Treasury bonds and the fair value is based on observable market inputs such as quoted prices, reported trades, quoted prices for similar issuances or benchmark yields;

· Obligations of U.S. states and political subdivisions are comprised of state and municipal bond issuances and the fair values are based on observable market inputs such as quoted market prices, quoted prices for similar securities, benchmark yields and credit spreads;

· Corporate securities are primarily comprised of U.S. corporate and public utility bond issuances and the fair values are based on observable market inputs such as quoted market prices, quoted prices for similar securities, benchmark yields and credit spreads;

· Asset-backed and mortgage-backed securities fair values are based on observable inputs such as quoted prices, reported trades, quoted prices for similar issuances or benchmark yields and cash flow models using observable inputs such as prepayment speeds, collateral performance and default spreads;

· Foreign government securities are comprised of global non-U.S. sovereign bond issuances and the fair values are based on observable market inputs such as quoted market prices, quoted prices for similar securities and models with observable inputs such as benchmark yields and credit spreads and then, where applicable, converted to U.S. dollars using an exchange rate from a nationally recognized source;

13

· Foreign corporate securities are comprised of global non-U.S. corporate bond issuances and the fair values are based on observable market inputs such as quoted market prices, quoted prices for similar securities and models with observable inputs such as benchmark yields and credit spreads and then, where applicable, converted to U.S. dollars using an exchange rate from a nationally recognized source.

Other invested assets, at fair value, are categorized as Level 1, Quoted Prices in Active Markets for Identical Assets, since the securities are shares of the Company's parent, which are actively traded on an exchange and the price is based on a quoted price.

The following table presents the fair value measurement levels for all assets, which the Company has recorded at fair value (fair and market value) as of the period indicated:

			Fair Value Measurement Using:
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
(Dollars in thousands)	September 30, 2015		(Level 1)		(Level 2)		(Level 3)
Assets:
Fixed maturities, market value
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	227,444	$	-	$	227,444	$	-
Obligations of U.S. States and political subdivisions		714,279		-		714,279		-
Corporate securities		1,999,162		-		1,993,887		5,275
Asset-backed securities		132,461		-		132,461		-
Mortgage-backed securities
Commercial		64,521		-		64,521		-
Agency residential		726,035		-		726,035		-
Non-agency residential		168		-		168		-
Foreign government securities		464,707		-		464,707		-
Foreign corporate securities		1,055,585		-		1,049,460		6,125
Total fixed maturities, market value		5,384,362		-		5,372,962		11,400
Fixed maturities, fair value		-		-		-		-
Equity securities, market value		-		-		-		-
Equity securities, fair value		1,199,347		1,109,801		89,546		-
Other invested assets, fair value		1,684,860		1,684,860		-		-

There were no transfers between Level 1 and Level 2 for the nine months ended September 30, 2015.

14

The following table presents the fair value measurement levels for all assets, which the Company has recorded at fair value (fair and market value) as of the period indicated:

			Fair Value Measurement Using:
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
(Dollars in thousands)	December 31, 2014		(Level 1)		(Level 2)		(Level 3)
Assets:
Fixed maturities, market value
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	136,836	$	-	$	136,836	$	-
Obligations of U.S. States and political subdivisions		824,472		-		824,472		-
Corporate securities		1,978,935		-		1,978,935		-
Asset-backed securities		94,823		-		94,823		-
Mortgage-backed securities
Commercial		59,268		-		50,671		8,597
Agency residential		598,117		-		598,117		-
Non-agency residential		315		-		315		-
Foreign government securities		537,087		-		537,087		-
Foreign corporate securities		1,063,558		-		1,056,392		7,166
Total fixed maturities, market value		5,293,411		-		5,277,648		15,763
Fixed maturities, fair value		1,509		-		1,509		-
Equity securities, market value		16		16		-		-
Equity securities, fair value		1,299,037		1,188,613		110,424		-
Other invested assets, fair value		1,655,311		1,655,311		-		-

15

The following tables present the activity under Level 3, fair value measurements using significant unobservable inputs by asset type, for the periods indicated:

	Three Months Ended September 30, 2015									Nine Months Ended September 30, 2015
	Corporate			Foreign						Corporate						Foreign
(Dollars in thousands)	Securities			Corporate			Total			Securities			CMBS			Corporate			Total
Beginning balance	$	1,958		$	7,837		$	9,795		$	-		$	8,597		$	7,166		$	15,763
Total gains or (losses) (realized/unrealized)
Included in earnings		(6	)		62			56			(2	)		-			177			175
Included in other comprehensive income (loss)		(93	)		(1,287	)		(1,380	)		(95	)		-			(1,216	)		(1,311	)
Purchases, issuances and settlements		1,723			-			1,723			3,651			-			-			3,651
Transfers in and/or (out) of Level 3		1,693			(487	)		1,206			1,721			(8,597	)		(2	)		(6,878	)
Ending balance	$	5,275		$	6,125		$	11,400		$	5,275		$	-		$	6,125		$	11,400
The amount of total gains or losses for the period
included in earnings (or changes in net assets)
attributable to the change in unrealized gains
or losses relating to assets still held at the
reporting date	$	-		$	-		$	-		$	-		$	-		$	-		$	-
(Some amounts may not reconcile due to rounding.)

	Three Months Ended September 30, 2014														Nine Months Ended September 30, 2014
	Corporate		Asset-backed			Foreign			Non-agency						Corporate		Asset-backed			Foreign			Non-agency
(Dollars in thousands)	Securities		Securities			Corporate			RMBS			Total			Securities		Securities			Corporate			RMBS			Total
Beginning balance	$	-	$	2,528		$	-		$	4		$	2,532		$	-	$	3,533		$	481		$	4		$	4,018
Total gains or (losses) (realized/unrealized)
Included in earnings		-		1,235			-			2			1,237			-		1,291			18			3			1,312
Included in other comprehensive income (loss)		42		(284	)		(50	)		(3	)		(295	)		42		(191	)		(70	)		(3	)		(222	)
Purchases, issuances and settlements		1,274		17,898			3,614			(3	)		22,783			1,274		16,744			3,135			(4	)		21,149
Transfers in and/or (out) of Level 3		-		(1,101	)		-			-			(1,101	)		-		(1,101	)		-			-			(1,101	)
Ending balance	$	1,316	$	20,276		$	3,564		$	-		$	25,156		$	1,316	$	20,276		$	3,564		$	-		$	25,156
The amount of total gains or losses for the period
included in earnings (or changes in net assets)
attributable to the change in unrealized gains
or losses relating to assets still held at the
reporting date	$	-	$	-		$	-		$	-		$	-		$	-	$	-		$	-		$	-		$	-
(Some amounts may not reconcile due to rounding.)

The net transfers from level 3, fair value measurements using significant unobservable inputs, of $6,878 thousand and $1,101 thousand of investments for the nine months ended September 30, 2015 and September 30, 2014, respectively, primarily relate to securities that were priced using single non-binding broker quotes and were subsequently priced using a recognized pricing service and were then classified as level 2.

16

5.CAPITAL TRANSACTIONS

On July 9, 2014, the Company renewed its shelf registration statement on Form S-3ASR with the Securities and Exchange Commission (the "SEC"), as a Well Known Seasoned Issuer.  This shelf registration statement can be used by Group to register common shares, preferred shares, debt securities, warrants, share purchase contracts and share purchase units; by Holdings to register debt securities and by Everest Re Capital Trust III ("Capital Trust III") to register trust preferred securities.

6.CONTINGENCIES

In the ordinary course of business, the Company is involved in lawsuits, arbitrations and other formal and informal dispute resolution procedures, the outcomes of which will determine the Company's rights and obligations under insurance and reinsurance agreements.  In some disputes, the Company seeks to enforce its rights under an agreement or to collect funds owing to it.  In other matters, the Company is resisting attempts by others to collect funds or enforce alleged rights.  These disputes arise from time to time and are ultimately resolved through both informal and formal means, including negotiated resolution, arbitration and litigation.  In all such matters, the Company believes that its positions are legally and commercially reasonable.  The Company considers the statuses of these proceedings when determining its reserves for unpaid loss and loss adjustment expenses.

Aside from litigation and arbitrations related to these insurance and reinsurance agreements, the Company is not a party to any other material litigation or arbitration.

The Company has entered into separate annuity agreements with The Prudential Insurance of America ("The Prudential") and an additional unaffiliated life insurance company in which the Company has either purchased annuity contracts or become the assignee of annuity proceeds that are meant to settle claim payment obligations in the future. In both instances, the Company would become contingently liable if either The Prudential or the unaffiliated life insurance company were unable to make payments related to the respective annuity contact.

The table below presents the estimated cost to replace all such annuities for which the Company was contingently liable for the periods indicated:

	At September 30,		At December 31,
(Dollars in thousands)	2015		2014
The Prudential	$	142,661	$	142,653
Unaffiliated life insurance company		32,414		31,964

17

7.OTHER COMPREHENSIVE INCOME (LOSS)

The following tables present the components of comprehensive income (loss) in the consolidated statements of operations and comprehensive income (loss) for the periods indicated:

	Three Months Ended September 30, 2015									Nine Months Ended September 30, 2015
(Dollars in thousands)	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
Unrealized appreciation (depreciation) ("URA(D)") on securities - temporary	$	(45,240	)	$	15,347		$	(29,893	)	$	(84,958	)	$	28,749		$	(56,209	)
URA(D) on securities - OTTI		22			(7	)		15			9,757			(3,414	)		6,343
Reclassification of net realized losses (gains) included in net income (loss)		17,137			(5,512	)		11,625			73,793			(24,842	)		48,951
Foreign currency translation adjustments		(42,266	)		14,793			(27,473	)		(68,670	)		24,034			(44,636	)
Benefit plan actuarial net gain (loss)		-			-			-			-			-			-
Reclassification of amortization of net gain (loss) included in net income (loss)		2,393			(837	)		1,556			7,336			(2,567	)		4,769
Total other comprehensive income (loss)	$	(67,954	)	$	23,784		$	(44,170	)	$	(62,742	)	$	21,960		$	(40,782	)
(Some amounts may not reconcile due to rounding)

	Three Months Ended September 30, 2014									Nine Months Ended September 30, 2014
(Dollars in thousands)	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
Unrealized appreciation (depreciation) ("URA(D)") on securities - temporary	$	(40,339	)	$	14,118		$	(26,221	)	$	21,234		$	(7,556	)	$	13,678
URA(D) on securities - OTTI		-			-			-			-			-			-
Reclassification of net realized losses (gains) included in net income (loss)		(1,070	)		374			(696	)		2,054			(595	)		1,459
Foreign currency translation adjustments		(11,496	)		4,024			(7,472	)		(13,211	)		4,624			(8,587	)
Benefit plan actuarial net gain (loss)		-			-			-			-			-			-
Reclassification of amortization of net gain (loss) included in net income (loss)		1,269			(444	)		825			3,640			(1,274	)		2,366
Total other comprehensive income (loss)	$	(51,636	)	$	18,072		$	(33,564	)	$	13,717		$	(4,801	)	$	8,916
(Some amounts may not reconcile due to rounding)

The following table presents details of the amounts reclassified from AOCI for the periods indicated:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,						Affected line item within the statements of
AOCI component	2015			2014			2015			2014			operations and comprehensive income (loss)
(Dollars in thousands)
URA(D) on securities	$	17,137		$	(1,070	)	$	73,793		$	2,054		Other net realized capital gains (losses)
		(5,512	)		374			(24,842	)		(595	)	Income tax expense (benefit)
	$	11,625		$	(696	)	$	48,951		$	1,459		Net income (loss)
Benefit plan net gain (loss)	$	2,393		$	1,269		$	7,336		$	3,640		Other underwriting expenses
		(837	)		(444	)		(2,567	)		(1,274	)	Income tax expense (benefit)
	$	1,556		$	825		$	4,769		$	2,366		Net income (loss)
(Some amounts may not reconcile due to rounding)

18

The following table presents the components of accumulated other comprehensive income (loss), net of tax, in the consolidated balance sheets for the periods indicated:

	Nine Months Ended			Twelve Months Ended
	September 30,			December 31,
(Dollars in thousands)	2015			2014
Beginning balance of URA (D) on securities	$	37,628		$	55,457
Current period change in URA (D) of investments - temporary		(7,258	)		(11,501	)
Current period change in URA (D) of investments - non-credit OTTI		6,343			(6,328	)
Ending balance of URA (D) on securities		36,713			37,628
Beginning balance of foreign currency translation adjustments		41,877			71,087
Current period change in foreign currency translation adjustments		(44,636	)		(29,210	)
Ending balance of foreign currency translation adjustments		(2,759	)		41,877
Beginning balance of benefit plan net gain (loss)		(74,986	)		(38,896	)
Current period change in benefit plan net gain (loss)		4,769			(36,090	)
Ending balance of benefit plan net gain (loss)		(70,217	)		(74,986	)
Ending balance of accumulated other comprehensive income (loss)	$	(36,263	)	$	4,519

8.CREDIT FACILITY - EXPIRED

Effective August 15, 2011, the Company entered into a three year, $150,000 thousand unsecured revolving credit facility, referred to as the "Holdings Credit Facility", which expired on August 15, 2014.  The Company decided not to renew the Holdings Credit Facility at expiration.

9.REINSURANCE AND TRUST AGREEMENTS

A subsidiary of the Company, Everest Re, has established a trust agreement, which effectively uses Everest Re's investments as collateral, as security for assumed losses payable to a non-affiliated ceding company.  At September 30, 2015, the total amount on deposit in the trust account was $306,214 thousand.

On April 24, 2014, the Company entered into two collateralized reinsurance agreements with Kilimanjaro Re Limited ("Kilimanjaro"), a Bermuda based special purpose reinsurer, to provide the Company with catastrophe reinsurance coverage.  These agreements are multi-year reinsurance contracts which cover specified named storm and earthquake events.  The first agreement provides up to $250,000 thousand of reinsurance coverage from named storms in specified states of the Southeastern United States.  The second agreement provides up to $200,000 thousand of reinsurance coverage from named storms in specified states of the Southeast, Mid-Atlantic and Northeast regions of the United States and Puerto Rico as well as reinsurance coverage from earthquakes in specified states of the Southeast, Mid-Atlantic, Northeast and West regions of the United States, Puerto Rico and British Columbia.

On November 18, 2014, the Company entered into a collateralized reinsurance agreement with Kilimanjaro Re to provide the Company with catastrophe reinsurance coverage.  This agreement is a multi-year reinsurance contract which covers specified earthquake events.  The agreement provides up to $500,000 thousand of reinsurance coverage from earthquakes in the United States, Puerto Rico and Canada.

19

Kilimanjaro has financed the various property catastrophe reinsurance coverage by issuing catastrophe bonds to unrelated, external investors. On April, 24, 2014, Kilimanjaro issued $450,000 thousand of variable rate notes ("Series 2014-1 Notes").  On November 18, 2014, Kilimanjaro issued $500,000 thousand of variable rate notes ("Series 2014-2 Notes"). The proceeds from the issuance of the Series 2014-1 Notes and the Series 2014-2 Notes are held in reinsurance trust throughout the duration of the applicable reinsurance agreements and invested solely in US government money market funds with a rating of at least "AAAm" by Standard & Poor's.

10.SENIOR NOTES

The table below displays Holdings' outstanding senior notes.  Market value is based on quoted market prices, but due to limited trading activity, these senior notes are considered Level 2 in the fair value hierarchy.

					September 30, 2015				December 31, 2014
					Consolidated Balance				Consolidated Balance
(Dollars in thousands)	Date Issued	Date Due	Principal Amounts		Sheet Amount		Market Value		Sheet Amount		Market Value
4.868% Senior notes	06/05/2014	06/01/2044	$	400,000	$	400,000	$	388,768	$	400,000	$	404,892
5.40% Senior notes	10/12/2004	10/15/2014		250,000		-		-		-		-

On June 5, 2014, Holdings issued $400,000 thousand of 30 year senior notes at 4.868%, which will mature on June 1, 2044. Interest will be paid semi-annually on June 1 and December 1 of each year.  The proceeds from the issuance have been used in part to pay off the $250,000 thousand of 5.40% senior notes which matured on October 15, 2014.

Interest expense incurred in connection with these senior notes is as follows for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Interest expense incurred	$	4,868	$	8,256	$	14,604	$	16,385

11.LONG TERM SUBORDINATED NOTES

The table below displays Holdings' outstanding fixed to floating rate long term subordinated notes.  Market value is based on quoted market prices, but due to limited trading activity, these subordinated notes are considered Level 2 in the fair value hierarchy.

Maturity Date

September 30, 2015

December 31, 2014

Original

Consolidated Balance

Consolidated Balance

(Dollars in thousands)

Date Issued

Principal Amount

Scheduled

Final

Sheet Amount

Market Value

Sheet Amount

Market Value

6.6% Long term subordinated notes

04/26/2007

$

400,000

05/15/2037

05/01/2067

$

238,367

$

218,281

$

238,364

$

246,312

During the fixed rate interest period from May 3, 2007 through May 14, 2017, interest will be at the annual rate of 6.6%, payable semi-annually in arrears on November 15 and May 15 of each year, commencing on November 15, 2007, subject to Holdings' right to defer interest on one or more occasions for up to ten consecutive years.  During the floating rate interest period from May 15, 2017 through maturity, interest will be based on the 3 month LIBOR plus 238.5 basis points, reset quarterly, payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, subject to Holdings' right to defer interest on one or more occasions for up to ten consecutive years.  Deferred interest will accumulate interest at the applicable rate compounded semi-annually for periods prior to May 15, 2017, and compounded quarterly for periods from and including May 15, 2017.

20

Holdings can redeem the long term subordinated notes prior to May 15, 2017, in whole but not in part at the applicable redemption price, which will equal the greater of (a) 100% of the principal amount being redeemed and (b) the present value of the principal payment on May 15, 2017 and scheduled payments of interest that would have accrued from the redemption date to May 15, 2017 on the long term subordinated notes being redeemed, discounted to the redemption date on a semi-annual basis at a discount rate equal to the treasury rate plus an applicable spread of either 0.25% or 0.50%, in each case plus accrued and unpaid interest.  Holdings may redeem the long term subordinated notes on or after May 15, 2017, in whole or in part at 100% of the principal amount plus accrued and unpaid interest; however, redemption on or after the scheduled maturity date and prior to May 1, 2047 is subject to a replacement capital covenant.  This covenant is for the benefit of certain senior note holders and it mandates that Holdings receive proceeds from the sale of another subordinated debt issue, of at least similar size, before it may redeem the subordinated notes.  Effective upon the maturity of the Company's 5.40% senior notes on October 15, 2014, the Company's 4.868% senior notes, due on June 1, 2044, have become the Company's long term indebtedness that ranks senior to the long term subordinated notes.

On March 19, 2009, Group announced the commencement of a cash tender offer for any and all of the 6.60% fixed to floating rate long term subordinated notes.  Upon expiration of the tender offer, the Company had reduced its outstanding debt by $161,441 thousand.

Interest expense incurred in connection with these long term subordinated notes is as follows for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Interest expense incurred	$	3,937	$	3,937	$	11,811	$	11,811

12.SEGMENT REPORTING

The U.S. Reinsurance operation writes property and casualty reinsurance and specialty lines of business, including Marine, Aviation, Surety and Accident and Health ("A&H") business, on both a treaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies primarily within the U.S.  The International operation writes non-U.S. property and casualty reinsurance through Everest Re's branches in Canada, Singapore and through offices in Brazil, Miami and New Jersey.  The Insurance operation writes property and casualty insurance directly and through general agents, brokers and surplus lines brokers within the U.S.

These segments are managed independently, but conform with corporate guidelines with respect to pricing, risk management, control of aggregate catastrophe exposures, capital, investments and support operations.  Management generally monitors and evaluates the financial performance of these operating segments based upon their underwriting results.

Underwriting results include earned premium less losses and LAE incurred, commission and brokerage expenses and other underwriting expenses.  Underwriting results are measured using ratios, in particular loss, commission and brokerage and other underwriting expense ratios, which, respectively, divide incurred losses, commissions and brokerage and other underwriting expenses by premiums earned.

The Company does not maintain separate balance sheet data for its operating segments.  Accordingly, the Company does not review and evaluate the financial results of its operating segments based upon balance sheet data.

21

The following tables present the underwriting results for the operating segments for the period indicated:

	Three Months Ended				Nine Months Ended
U.S. Reinsurance	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Gross written premiums	$	601,570	$	679,904	$	1,615,276	$	1,663,320
Net written premiums		247,352		304,442		672,753		771,054
Premiums earned	$	235,275	$	275,521	$	726,113	$	739,977
Incurred losses and LAE		109,137		125,475		337,065		371,135
Commission and brokerage		48,881		51,231		141,948		144,747
Other underwriting expenses		13,718		12,119		37,054		33,054
Underwriting gain (loss)	$	63,539	$	86,696	$	210,046	$	191,041

	Three Months Ended						Nine Months Ended
International	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Gross written premiums	$	374,138		$	419,457		$	1,019,406		$	1,214,343
Net written premiums		147,991			157,932			417,071			446,599
Premiums earned	$	135,130		$	145,662		$	433,751		$	438,394
Incurred losses and LAE		128,454			113,703			339,926			286,166
Commission and brokerage		27,936			23,767			93,178			80,348
Other underwriting expenses		9,128			8,759			25,292			24,689
Underwriting gain (loss)	$	(30,388	)	$	(567	)	$	(24,645	)	$	47,191

	Three Months Ended						Nine Months Ended
Insurance	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015		2014
Gross written premiums	$	473,003		$	354,033		$	1,130,233	$	885,006
Net written premiums		203,730			149,542			490,140		386,694
Premiums earned	$	175,645		$	148,414		$	428,672	$	382,407
Incurred losses and LAE		133,163			141,402			325,522		322,842
Commission and brokerage		(4,666	)		4,170			6,509		15,489
Other underwriting expenses		34,107			29,745			94,723		79,289
Underwriting gain (loss)	$	13,041		$	(26,903	)	$	1,918	$	(35,213	)

The following table reconciles the underwriting results for the operating segments to income (loss) before taxes as reported in the consolidated statements of operations and comprehensive income (loss) for the periods indicated:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Underwriting gain (loss)	$	46,192		$	59,226		$	187,319		$	203,019
Net investment income		63,363			83,446			206,869			215,869
Net realized capital gains (losses)		(121,695	)		(160	)		(49,174	)		120,904
Corporate expense		(1,637	)		(4,620	)		(5,031	)		(5,398	)
Interest, fee and bond issue cost amortization expense		(8,859	)		(12,292	)		(26,576	)		(28,539	)
Other income (expense)		10,828			(3,739	)		38,950			(15,576	)
Income (loss) before taxes	$	(11,808	)	$	121,861		$	352,357		$	490,279

22

The Company produces business in the U.S. and internationally.  The net income deriving from assets residing in the individual foreign countries in which the Company writes business are not identifiable in the Company's financial records.  Based on gross written premium, the table below presents the largest country, other than the U.S., in which the Company writes business, for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Canada gross written premiums	$	31,903	$	41,644	$	85,575	$	116,133

No other country represented more than 5% of the Company's revenues.

13.RELATED-PARTY TRANSACTIONS

Parent

Group entered into a $250,000 thousand long term promissory note agreement with Holdings as of December 31, 2014. The note will mature on December 31, 2023 and has an interest rate of 1.72% that will be paid annually, on December 15^th of each year. This transaction is presented as a Note Receivable – Affiliated in the Consolidated Balance Sheets of Holdings.

Group's Board of Directors approved an amended share repurchase program authorizing Group and/or its subsidiary Holdings to purchase Group's common shares through open market transactions, privately negotiated transactions or both.  The table below represents the amendments to the share repurchase program for the common shares approved for repurchase.

	Common Shares
	Authorized for
Amendment Date	Repurchase
(Dollars in thousands)
09/21/2004	5,000,000
07/21/2008	5,000,000
02/24/2010	5,000,000
02/22/2012	5,000,000
05/15/2013	5,000,000
11/19/2014	5,000,000
	30,000,000

As of September 30, 2015, Holdings held 9,719,971 common shares of Group, which it had purchased in the open market between February 1, 2007 and March 8, 2011.  The table below represents the total purchase price for these common shares purchased.

(Dollars in thousands)
Total purchase price	$	835,371

Holdings reports these purchases as other invested assets, fair value, in the consolidated balance sheets with changes in fair value re-measurement recorded in net realized capital gains (losses) in the consolidated statements of operations and comprehensive income (loss).  The following table presents the dividends received on these common shares that are reported as net investment income in the consolidated statements of operations and comprehensive income (loss) for the period indicated.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Dividends received	$	9,234	$	7,290	$	27,702	$	21,870

23

Affiliated Companies

Everest Global Services, Inc. ("Global Services"), an affiliate of Holdings, provides centralized management and home office services, through a management agreement, to Holdings and other affiliated companies within Holdings' consolidated structure.  Services provided by Everest Global include executive managerial services, legal services, actuarial services, accounting services, information technology services and others.

The following table presents the expenses incurred by Holdings from services provided by Everest Global for the periods indicated.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Expenses incurred	$	20,359	$	22,149	$	58,555	$	55,668

Affiliates

The table below represents affiliated quota share reinsurance agreements ("whole account quota share") for all new and renewal business for the indicated coverage period:

(Dollars in thousands)
		Percent			Assuming		Single			Aggregate
Coverage Period	Ceding Company	Ceded			Company	Type of Business	Occurrence Limit			Limit
01/01/2002-12/31/2002	Everest Re		20.0	%	Bermuda Re	property / casualty business	$	-		$	-
01/01/2003-12/31/2003	Everest Re		25.0	%	Bermuda Re	property / casualty business		-			-
01/01/2004-12/31/2005	Everest Re		22.5	%	Bermuda Re	property / casualty business		-			-
	Everest Re		2.5	%	Everest International	property / casualty business		-			-
01/01/2006-12/31/2006	Everest Re		18.0	%	Bermuda Re	property business		125,000	(1)		-
	Everest Re		2.0	%	Everest International	property business		-			-
01/01/2006-12/31/2007	Everest Re		31.5	%	Bermuda Re	casualty business		-			-
	Everest Re		3.5	%	Everest International	casualty business		-			-
01/01/2007-12/31/2007	Everest Re		22.5	%	Bermuda Re	property business		130,000	(1)		-
	Everest Re		2.5	%	Everest International	property business		-			-
01/01/2008-12/31/2008	Everest Re		36.0	%	Bermuda Re	property / casualty business		130,000	(1)		275,000	(2)
	Everest Re		4.0	%	Everest International	property / casualty business		-			-
01/01/2009-12/31/2009	Everest Re		36.0	%	Bermuda Re	property / casualty business		150,000	(1)		325,000	(2)
	Everest Re		8.0	%	Everest International	property / casualty business		-			-
01/01/2010-12/31/2010	Everest Re		44.0	%	Bermuda Re	property / casualty business		150,000			325,000
01/01/2011-12/31/2011	Everest Re		50.0	%	Bermuda Re	property / casualty business		150,000			300,000
01/01/2012-12/31/2014	Everest Re		50.0	%	Bermuda Re	property / casualty business		100,000			200,000
01/01/2015	Everest Re		50.0	%	Bermuda Re	property / casualty business		162,500			325,000
01/01/2003-12/31/2006	Everest Re- Canadian Branch		50.0	%	Bermuda Re	property business		-			-
01/01/2007-12/31/2009	Everest Re- Canadian Branch		60.0	%	Bermuda Re	property business		-			-
01/01/2010-12/31/2010	Everest Re- Canadian Branch		60.0	%	Bermuda Re	property business		350,000	(3)		-
01/01/2011-12/31/2011	Everest Re- Canadian Branch		60.0	%	Bermuda Re	property business		350,000	(3)		-
01/01/2012-12/31/2012	Everest Re- Canadian Branch		75.0	%	Bermuda Re	property / casualty business		206,250	(3)		412,500	(3)
01/01/2013-12/31/2013	Everest Re- Canadian Branch		75.0	%	Bermuda Re	property / casualty business		150,000	(3)		412,500	(3)
01/01/2014	Everest Re- Canadian Branch		75.0	%	Bermuda Re	property / casualty business		262,500	(3)		412,500	(3)

01/01/2012 Everest Canada 80.0 % Everest Re- Canadian Branch property business - -

(1)	The single occurance limit is applied before the loss cessions to either Bermuda Re or Everest International.
(2)	The aggregate limit is applied before the loss cessions to either Bermuda Re or Everest International.
(3)	Amounts shown are Canadian dollars.

24

For premiums earned and losses incurred for the period January 1, 2002 through December 31, 2002, Everest Re, Everest National Insurance Company and Everest Security Insurance Company entered into an Excess of Loss Reinsurance Agreement with Bermuda Re, covering workers' compensation losses occurring on and after January 1, 2002, as respect to new, renewal and in force policies effective on that date through December 31, 2002.  This agreement was commuted as of September 30, 2013.  The table below represents Bermuda Re's liability limits for any losses per one occurrence.

	Liability Limits
(Dollars in thousands)	Exceeding		Not to Exceed
Losses per one occurrence	$	100,000	$	150,000

The table below represents loss portfolio transfer reinsurance agreements whereby net insurance exposures and reserves were transferred to an affiliate.

(Dollars in thousands)
Effective	Transferring	Assuming	% of Business or			Covered Period
Date	Company	Company	Amount of Transfer			of Transfer
09/19/2000	Mt. McKinley	Bermuda Re		100	%	All years
10/01/2001	Everest Re  (Belgium Branch)	Bermuda Re		100	%	All years
10/01/2008	Everest Re	Bermuda Re	$	747,022		01/01/2002-12/31/2007

On July 13, 2015, the Company sold Mt. McKinley to Clearwater Insurance Company, a Delaware domiciled insurance company. As of that date, Mt. McKinley is no longer deemed an affiliated company or related party.

The following tables summarize the premiums and losses ceded by the Company to Bermuda Re and Everest International, respectively, and premiums and losses assumed by the Company from Everest Canada for the periods indicated:

	Three Months Ended				Nine Months Ended
Bermuda Re	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Ceded written premiums	$	646,001	$	664,316	$	1,713,502	$	1,706,390
Ceded earned premiums		591,656		598,641		1,708,807		1,613,741
Ceded losses and LAE (a)		343,660		344,513		984,371		879,336

	Three Months Ended						Nine Months Ended
Everest International	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015		2014
Ceded written premiums	$	168		$	131		$	313	$	219
Ceded earned premiums		208			176			441		450
Ceded losses and LAE		(724	)		(321	)		156		1,823

	Three Months Ended				Nine Months Ended
Everest Canada	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Assumed written premiums	$	11,046	$	10,425	$	29,533	$	25,650
Assumed earned premiums		9,174		7,106		26,498		17,062
Assumed losses and LAE		4,041		4,104		15,062		10,487

(a) Ceded losses and LAE include the Mt. McKinley loss portfolio transfer that constitutes losses ceded under retroactive reinsurance and therefore, in accordance with FASB guidance, amortization of deferred gain on retroactive reinsurance is reflected in other income on the consolidated statements of operations and comprehensive income (loss). Upon the sale of Mt. McKinley, the value of the remaining deferred gain on retroactive reinsurance was included in the calculation of the realized gain on sale of subsidiary.

25

Everest Re sold net assets of its UK branch to Bermuda Re and provided Bermuda Re with a reserve indemnity agreement allowing for indemnity payments of up to 90% of ₤25.0 million of the excess of 2002 and prior reserves, provided that any recognition of profit from the reserves for 2002 and prior underwriting years is taken into account.

Effective February 27, 2013, Group established a new subsidiary, Mt. Logan Re, which is a Class 3 insurer based in Bermuda.  Effective July 1, 2013, Mt. Logan Re established separate segregated accounts for its business activity, which will invest in a diversified set of catastrophe exposures.

The following table summarizes the premiums and losses that are ceded by the Company to Mt. Logan Re and assumed by the Company from Mt. Logan Re.

	Three Months Ended				Nine Months Ended
Mt. Logan Re	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Ceded written premiums	$	68,078	$	44,728	$	162,640	$	93,322
Ceded earned premiums		55,234		38,458		141,668		78,975
Ceded losses and LAE		17,071		3,113		38,542		17,904
Assumed written premiums		4,230		578		11,626		10,497
Assumed earned premiums		4,230		5,786		11,626		10,497
Assumed losses and LAE		-		-		-		-

14.RETIREMENT BENEFITS

The Company maintains both qualified and non-qualified defined benefit pension plans and a retiree health plan for its U.S. employees employed prior to April 1, 2010.

Net periodic benefit cost for U.S. employees included the following components for the periods indicated:

Pension Benefits	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Service cost	$	3,203		$	2,460		$	9,398		$	7,381
Interest cost		2,758			2,542			7,926			7,625
Expected return on plan assets		(2,904	)		(2,822	)		(8,710	)		(8,468	)
Amortization of prior service cost		4			13			15			38
Amortization of net (income) loss		2,312			1,173			6,824			3,356
FAS 88 settlement charge		-			5,269			-			5,269
Net periodic benefit cost	$	5,373		$	8,635		$	15,453		$	15,201

Other Benefits	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Service cost	$	498	$	407	$	1,498	$	1,221
Interest cost		329		342		987		1,026
Amortization of net (income) loss		76		82		497		246
Net periodic benefit cost	$	903	$	831	$	2,982	$	2,493

The Company did not make any contributions to the qualified pension benefit plan for the three and nine months ended September 30, 2015 and 2014.

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15.INCOME TAXES

The Company is domiciled in the United States and has subsidiaries domiciled within the United States with significant branches in Canada and Singapore.  The Company's non-U.S. branches are subject to income taxation at varying rates in their respective domiciles.

For interim reporting periods, the company is generally required to use the annualized effective tax rate ("AETR") method, as prescribed by ASC 740-270, Interim Reporting, to calculate its income tax provision.  Under this method, the AETR is applied to the interim year-to-date pre-tax income to determine the income tax expense or benefit for the year-to-date period.  The income tax expense or benefit for a quarter represents the difference between the year-to-date income tax expense or benefit for the current year-to-date period less such amount for the immediately preceding year-to-date period.  Management considers the impact of all known events in its estimation of the Company's annual pre-tax income and AETR.

16.DISPOSITIONS

On July 13, 2015, the Company closed its agreement to sell all of the outstanding shares of capital stock of Mt. McKinley, a Delaware domiciled insurance company and wholly-owned subsidiary of the Company to Clearwater Insurance Company, a Delaware domiciled insurance company.  The purchase price of $20,156 thousand was based upon the statutory book value of Mt. McKinley as of the closing date. The Company recognized a pre-tax realized gain of $94,704 thousand on the sale of Mt. McKinley.

The transaction met the criteria for Held for Sale accounting.  In accordance with the guidance, the table below details the assets and liabilities associated with the business classified as Held for Sale at the time of closing.

(Dollars in thousands)
Investments and cash	$	16,223
Reinsurance recoverables		142,057
Deferred tax asset		35,451
Total assets held for sale	$	193,731
Reserve for losses and loss adjustment expenses	$	137,704
Deferred gain on retroactive reinsurance		94,704
Other liabilities		130
Total liabilities held for sale	$	232,538
Net liabilities held for sale	$	(38,807	)

17.SUBSEQUENT EVENTS

The Company has entered into two collateralized reinsurance agreements with Kilimanjaro to provide the Company with catastrophe reinsurance coverage. Kilimanjaro has funded the catastrophe reinsurance coverage through the issuance of two classes of catastrophe reinsurance bonds in an aggregate amount of $625,000 thousand.

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ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

Industry Conditions.

The worldwide reinsurance and insurance businesses are highly competitive, as well as cyclical by product and market.  As such, financial results tend to fluctuate with periods of constrained availability, high rates and strong profits followed by periods of abundant capacity, low rates and constrained profitability.  Competition in the types of reinsurance and insurance business that we underwrite is based on many factors, including the perceived overall financial strength of the reinsurer or insurer, ratings of the reinsurer or insurer by A.M. Best and/or Standard & Poor's, underwriting expertise, the jurisdictions where the reinsurer or insurer is licensed or otherwise authorized, capacity and coverages offered, premiums charged, other terms and conditions of the reinsurance and insurance business offered, services offered, speed of claims payment and reputation and experience in lines written.  Furthermore, the market impact from these competitive factors related to reinsurance and insurance is generally not consistent across lines of business, domestic and international geographical areas and distribution channels.

We compete in the U.S. and international reinsurance and insurance markets with numerous global competitors.  Our competitors include independent reinsurance and insurance companies, subsidiaries or affiliates of established worldwide insurance companies, reinsurance departments of certain insurance companies, domestic and international underwriting operations, including underwriting syndicates at Lloyd's and certain government sponsored risk transfer vehicles.  Some of these competitors have greater financial resources than we do and have established long term and continuing business relationships, which can be a significant competitive advantage.  In addition, the lack of strong barriers to entry into the reinsurance business and recently, the securitization of reinsurance and insurance risks through capital markets provide additional sources of potential reinsurance and insurance capacity and competition.

Worldwide insurance and reinsurance market conditions continued to be very competitive, particularly in the property catastrophe and casualty reinsurance lines of business.  Generally, there was ample insurance and reinsurance capacity relative to demand, as well as, additional capital from the capital markets through insurance linked financial instruments.  These financial instruments such as side cars, catastrophe bonds and collateralized reinsurance funds, provide capital markets with access to insurance and reinsurance risk exposure. The capital markets demand for these products is being primarily driven by the current low interest environment and the desire to achieve greater risk diversification and potentially higher returns on their investments.  This increased competition is generally having a negative impact on rates, terms and conditions; however, the impact varies widely by market and coverage.

Rates tend to fluctuate by specific region and products, particularly areas recently impacted by large catastrophic events.  During the second and third quarters of 2013, Canada experienced historic flooding in Alberta and Toronto, which resulted in higher catastrophe rates in these areas during 2014.  Although there were flooding and wind storm events in Europe and Asia in the latter part of 2013, the overall 2013 catastrophe losses for the industry were lower than average.  This lower level of losses, combined with increased competition resulted in downward pressure on rates in certain geographical areas during 2014.  Catastrophe results during 2014 and through the third quarter of 2015 were also below historical averages, which could have a negative impact on worldwide regional catastrophe markets for the balance of 2015.

Overall, we believe that given our size, strong ratings, distribution system, reputation, expertise and capital market vehicle activity the current marketplace conditions provide profit opportunities.  We continue to employ our strategy of targeting business that offers the greatest profit potential, while maintaining balance and diversification in our overall portfolio.

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Financial Summary.

We monitor and evaluate our overall performance based upon financial results.  The following table displays a summary of the consolidated net income (loss), ratios and stockholder's equity for the periods indicated:

	Three Months Ended						Percentage			Nine Months Ended						Percentage
	September 30,						Increase/			September 30,						Increase/
(Dollars in millions)	2015			2014			(Decrease)			2015			2014			(Decrease)
Gross written premiums	$	1,448.7		$	1,453.4			-0.3	%	$	3,764.9		$	3,762.7			0.1	%
Net written premiums		599.1			611.9			-2.1	%		1,580.0			1,604.3			-1.5	%
REVENUES:
Premiums earned	$	546.1		$	569.6			-4.1	%	$	1,588.5		$	1,560.8			1.8	%
Net investment income		63.4			83.4			-24.1	%		206.9			215.9			-4.2	%
Net realized capital gains (losses)		(121.7	)		(0.2	)	NM				(49.2	)		120.9			-140.7	%
Other income (expense)		10.8			(3.7	)	NM				39.0			(15.6	)	NM
Total revenues		498.5			649.1			-23.2	%		1,785.2			1,882.0			-5.1	%
CLAIMS AND EXPENSES:
Incurred losses and loss adjustment expenses		370.8			380.6			-2.6	%		1,002.5			980.1			2.3	%
Commission, brokerage, taxes and fees		72.2			79.2			-8.9	%		241.6			240.6			0.4	%
Other underwriting expenses		57.0			50.6			12.5	%		157.1			137.0			14.6	%
Corporate expense		1.6			4.6			-64.6	%		5.0			5.4			-6.8	%
Interest, fee and bond issue cost amortization expense		8.9			12.3			-27.9	%		26.6			28.5			-6.9	%
Total claims and expenses		510.4			527.3			-3.2	%		1,432.8			1,391.7			3.0	%
INCOME (LOSS) BEFORE TAXES		(11.8	)		121.9			-109.7	%		352.4			490.3			-28.1	%
Income tax expense (benefit)		(7.1	)		21.7			-132.9	%		107.3			145.5			-26.2	%
NET INCOME (LOSS)	$	(4.7	)	$	100.1			-104.7	%	$	245.1		$	344.8			-28.9	%
RATIOS:							Point Change									Point Change
Loss ratio		67.9	%		66.8	%		1.1			63.1	%		62.8	%		0.3
Commission and brokerage ratio		13.2	%		13.9	%		(0.7	)		15.2	%		15.4	%		(0.2	)
Other underwriting expense ratio		10.4	%		8.9	%		1.5			9.9	%		8.8	%		1.1
Combined ratio		91.5	%		89.6	%		1.9			88.2	%		87.0	%		1.2
										At			At			Percentage
										September 30,			December 31,			Increase/
(Dollars in millions)										2015			2014			(Decrease)
Balance sheet data:
Total investments and cash										$	9,354.9		$	9,572.6			-2.3	%
Total assets											16,550.6			16,322.3			1.4	%
Loss and loss adjustment expense reserves											7,878.1			7,843.9			0.4	%
Total debt											638.4			638.4			0.0	%
Total liabilities											11,763.4			11,749.6			0.1	%
Stockholder's equity											4,787.3			4,572.7			4.7	%
(NM, not meaningful)
(Some amounts may not reconcile due to rounding)

Revenues.

Premiums.  Gross written premiums decreased by 0.3% to $1,448.7 million for the three months ended September 30, 2015, compared to $1,453.4 million for the three months ended September 30, 2014, reflecting a $123.7 million, or 11.2%, decrease in our reinsurance business, partially offset by a $119.0 million, or 33.6%, increase in our insurance business.  The decline in reinsurance premiums were due mainly to decreases in treaty casualty and treaty property lines of business and a negative impact of approximately $31.4 million from the year over year movement in foreign exchange rates.  The rise in insurance premiums was primarily due to the strategic initiative to expand our insurance operation resulting in increases in most lines of business. Gross written premiums increased by 0.1% to $3,764.9 million for the

29

nine months ended September 30, 2015, compared to $3,762.7 million for the nine months ended September 30, 2014, reflecting a $245.2 million, or 27.7%, increase in our insurance business, partially offset by a $243.0 million, or 8.4%, decrease in our reinsurance business. The rise in insurance premiums was primarily due to increases in most lines of business, as we have focused on expanding the insurance operations. The decline in reinsurance premiums were due mainly to decreases in treaty casualty and treaty property lines of business, reductions in quota share agreements and a negative impact of approximately $70.0 million from the year over year movement in foreign exchange rates.

Net written premiums decreased by 2.1% to $599.1 million for the three months ended September 30, 2015, compared to $611.9 million for the three months ended September 30, 2014, and decreased by 1.5% to $1,580.0 million for the nine months ended September 30, 2015 compared to $1,604.3 million for the nine months ended September 30, 2014. The difference between the change in gross written premiums compared to the change in net written premiums is primarily due to varying utilization of reinsurance mainly related to quota share contracts.  Premiums earned decreased by 4.1% to $546.1 million for the three months ended September 30, 2015, compared to $569.6 million for the three months ended September 30, 2014, and increased by 1.8% to $1,588.5 million for the nine months ended September 30, 2015, compared to $1,560.8 million for the nine months ended September 30, 2014.  The change in premiums earned relative to net written premiums is the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.

Net Investment Income.  Net investment income decreased by 24.1% to $63.4 million for the three months ended September 30, 2015, compared with net investment income of $83.4 million for the three months ended September 30, 2014, and decreased by 4.2% to $206.9 million for nine months ended September 30, 2015, compared with net investment income of $215.9 million for the nine months ended September 30, 2014. Net pre-tax investment income, as a percentage of average invested assets, was 3.1% for the three months ended September 30, 2015, compared to 3.8% for the three months ended September 30, 2014 and was 3.3% for the nine months ended September 30, 2015 compared to 3.4% for the nine months ended September 30, 2014. The decline in income and yield was primarily the result of a decrease in our limited partnership income combined with lower income on fixed income securities.

Net Realized Capital Gains (Losses). Net realized capital losses were $121.7 million and $0.2 million for the three months ended September 30, 2015 and 2014, respectively. The $121.7 million was comprised of $185.6 million of losses from fair value re-measurements on equity securities and other invested assets, $20.3 million of losses from sales on our fixed maturity and equity securities and $10.5 million of other-than-temporary impairments, partially offset by a $94.7 million gain on the sale of a subsidiary. The net realized capital losses of $0.2 million for the three months ended September 30, 2014 was comprised of $1.4 million of losses from sales on our fixed maturity and equity securities, partially offset by $1.2 million of gains from fair value re-measurements on fixed maturity, equity securities and other invested assets.

Net realized capital losses were $49.2 million and net realized capital gains were $120.9 million for the nine months ended September 30, 2015 and 2014, respectively. The $49.2 million was comprised of $56.1 million of losses from fair value re-measurements on fixed maturity securities, equity securities and other invested assets, $44.3 million of losses from sales on our fixed maturity and equity securities and $43.4 million of other-than-temporary impairments, partially offset by a $94.7 million gain on the sale of a subsidiary.  The net realized capital gains of $120.9 million for the nine months ended September 30, 2014 were the result of $124.1 million of gains from fair value re-measurements on fixed maturity, equity securities and other invested assets, partially offset by $3.0 million of net realized capital losses from sales on our fixed maturity and equity securities and $0.2 million of other-than-temporary impairments.

Other Income (Expense).  We recorded other income of $10.8 million and $39.0 million for the three and nine months ended September 30, 2015, respectively.  We recorded other expense of $3.7 million and $15.6 million for the three and nine months ended September 30, 2014, respectively. The changes were primarily the result of fluctuations in foreign currency exchange rates for the corresponding periods.

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Claims and Expenses.

Incurred Losses and Loss Adjustment Expenses.  The following tables present our incurred losses and loss adjustment expenses ("LAE") for the periods indicated.

	Three Months Ended September 30,
	Current			Ratio %/				Prior			Ratio %/				Total			Ratio %/
(Dollars in millions)	Year			Pt Change				Years			Pt Change				Incurred			Pt Change
2015
Attritional (a)	$	351.1			64.4	%		$	3.3			0.6	%		$	354.5			65.0	%
Catastrophes		17.2			3.1	%			(0.9	)		-0.2	%			16.3			2.9	%
Total	$	368.3			67.5	%		$	2.4			0.4	%		$	370.8			67.9	%
2014
Attritional (a)	$	372.4			65.3	%		$	(3.1	)		-0.5	%		$	369.3			64.8	%
Catastrophes		14.7			2.6	%			(3.4	)		-0.6	%			11.3			2.0	%
Total	$	387.1			67.9	%		$	(6.5	)		-1.1	%		$	380.6			66.8	%
Variance 2015/2014
Attritional (a)	$	(21.3	)		(0.9	)	pts	$	6.4			1.1		pts	$	(14.8	)		0.2		pts
Catastrophes		2.5			0.5		pts		2.5			0.4		pts		5.0			0.9		pts
Total	$	(18.8	)		(0.4	)	pts	$	8.9			1.5		pts	$	(9.8	)		1.1		pts
(a)  Attritional losses exclude catastrophe losses.
(Some amounts may not reconcile due to rounding.)

	Nine Months Ended September 30,
	Current		Ratio %/				Prior			Ratio %/				Total			Ratio %/
(Dollars in millions)	Year		Pt Change				Years			Pt Change				Incurred			Pt Change
2015
Attritional (a)	$	973.2		61.3	%		$	2.0			0.1	%		$	975.2			61.4	%
Catastrophes		35.3		2.2	%			(8.0	)		-0.5	%			27.3			1.7	%
Total	$	1,008.5		63.5	%		$	(6.0	)		-0.4	%		$	1,002.5			63.1	%
2014
Attritional (a)	$	956.3		61.3	%		$	(5.5	)		-0.4	%		$	950.8			60.9	%
Catastrophes		35.1		2.3	%			(5.8	)		-0.4	%			29.3			1.9	%
Total	$	991.4		63.6	%		$	(11.3	)		-0.8	%		$	980.1			62.8	%
Variance 2015/2014
Attritional (a)	$	16.9		-		pts	$	7.5			0.5		pts	$	24.4			0.5		pts
Catastrophes		0.2		(0.1	)	pts		(2.2	)		(0.1	)	pts		(2.0	)		(0.2	)	pts
Total	$	17.1		(0.1	)	pts	$	5.3			0.4		pts	$	22.4			0.3		pts
(a)  Attritional losses exclude catastrophe losses.
(Some amounts may not reconcile due to rounding.)

Incurred losses and LAE decreased by 2.6% to $370.8 million for the three months ended September 30, 2015 compared to $380.6 million for the three months ended September 30, 2014, primarily due to decreases in current year attritional losses of $21.3 million resulting primarily from the impact of the decline in premiums earned, partially offset by a $21.6 million loss from the explosion at the Chinese port of Tianjin. Current year catastrophe losses were $17.2 million for the three months ended September 30, 2015, primarily related to the 2015 Chilean earthquake ($17.4 million). The current year catastrophe losses of $14.7 million for the three months ended September 30, 2014 were due to the Hurricane Odile ($9.9 million) and the 2014 Chilean earthquake ($4.8 million).

Incurred losses and LAE increased by 2.3% to $1,002.5 million for the nine months ended September 30, 2015 compared to $980.1 million for the nine months ended September 30, 2014, primarily due to increases in current year attritional losses of $16.9 million resulting primarily from a $21.6 million loss from the explosion at the Chinese port of Tianjin.  Current year catastrophe losses were $35.3 million for the nine months ended September 30, 2015 and related to the 2015 Chilean earthquake ($17.4 million), Northern Chile storms ($9.8 million) and the New South Wales storms ($8.0 million). The current year catastrophe losses of $35.1 million for the nine months ended September 30, 2014 were due to the Japan snowstorm ($13.2 million), the 2014 Chilean earthquake ($12.1 million) and Hurricane Odile (9.9 million).

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Commission, Brokerage, Taxes and Fees.  Commission, brokerage, taxes and fees decreased by 8.9% to $72.2 million for the three months ended September 30, 2015 compared to $79.2 million for the three months ended September 30, 2014. The quarter over quarter decline was mainly due to the decline in earned premiums. Commission, brokerage, taxes and fees increased slightly to $241.6 million for the nine months ended September 30, 2015 compared to $240.6 million for the nine months ended September 30, 2014.  The year over year change was primarily due to the impact of the increase in premiums earned.

Other Underwriting Expenses.  Other underwriting expenses were $57.0 million and $50.6 million for the three months ended September 30, 2015 and 2014, respectively, and $157.1 million and $137.0 million for the nine months ended September 30, 2015 and 2014, respectively. The increases in other underwriting expenses were mainly due to the costs to expand the insurance operations and higher employee benefit costs.

Corporate Expenses.  Corporate expenses, which are general operating expenses that are not allocated to segments, were $1.6 million and $4.6 million for the three months ended September 30, 2015 and 2014, respectively, and $5.0 million and $5.4 million for the nine months ended September 30, 2015 and 2014, respectively. The decreases were due to non-recurring employee benefit charges incurred during the third quarter of 2014.

Interest, Fees and Bond Issue Cost Amortization Expense.  Interest, fees and other bond amortization expense was $8.9 million and $12.3 million for the three months ended September 30, 2015 and 2014, respectively, and $26.6 million and $28.5 million for the nine months ended September 30, 2015 and 2014, respectively. The decreases were primarily due to the combination of the maturity of $250.0 million of senior notes in October 2014 and the issuance of $400.0 million of senior notes in June, 2014.

Income Tax Expense (Benefit).  Income tax benefit was $7.1 million and income tax expense was $21.7 million for the three months ended September 30, 2015 and 2014, respectively, and income tax expense was $107.3 million and $145.5 million for the nine months ended September 30, 2015 and 2014, respectively.  Income tax expense is primarily a function of the geographic location of the Company's pre-tax income and the statutory tax rates in those jurisdictions, as affected by tax-exempt investment income.  Variations in the income tax expense generally result from changes in the relative levels of pre-tax income, including the impact of catastrophe losses and net capital gains (losses), among jurisdictions with different tax rates.  The changes in income tax expense/(benefit) for the three and nine months ended September 30, 2015 compared to 2014 were primarily due to higher net realized capital losses.

Net Income (Loss).

Our net loss was $4.7 million and our net income was $100.1 million for the three months ended September 30, 2015 and 2014, respectively, and net income was $245.1 million and $344.8 million for the nine months ended September 30, 2015 and 2014, respectively. The changes were primarily driven by the financial component fluctuations explained above.

Ratios.

Our combined ratio increased by 1.9 points to 91.5% for the three months ended September 30, 2015, compared to 89.6% for the three months ended September 30, 2014, and increased by 1.2 points to 88.2% for the nine months ended September 30, 2015, compared to 87.0% for the nine months ended September 30, 2014.  The loss ratio component increased by 1.1 points and 0.3 points for the three and nine months ended September 30, 2015, respectively, over the same period last year primarily due to $21.6 million of losses from the explosion at the Chinese port of Tianjin. The commission and brokerage ratio components decreased 0.7 points and 0.2 points for the three and nine months ended September 30, 2015, respectively, over the same period last year, primarily due to changes in the mix of business and changes related to affiliated quota share agreements. The other underwriting expense ratio components increased 1.5 points and 1.1 points for the three and nine months ended September 30, 2015, respectively, over the same period last year mainly due to the growth in the insurance operations.

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Stockholder's Equity.

Stockholders' equity increased by $214.5 million to $4,787.3 million at September 30, 2015 from $4,572.7 million at December 31, 2014, principally as a result of $245.1 million of net income, $10.3 million of share-based compensation transactions and $4.8 million of net benefit plan obligation adjustments, partially offset by $44.6 million of net foreign currency translation adjustments and $0.9 million of net unrealized depreciation on investments, net of tax.

Consolidated Investment Results

Net Investment Income.

Net investment income decreased 24.1% to $63.4 million for the three months ended September 30, 2015 compared to $83.4 million for the three months ended September 30, 2014, and decreased by 4.2% to $206.9 million for the nine months ended September 30, 2015 compared to $215.9 million for the nine months ended September 30, 2014. These decreases were primarily due to a decrease in income from our limited partnership investments and lower income on the fixed income portfolio, partially offset by an increase in dividends from Parent's shares and interest income received from the Parent on the affiliated note receivable.

The following table shows the components of net investment income for the periods indicated:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in millions)	2015			2014			2015			2014
Fixed maturities	$	46.4		$	52.5		$	140.8		$	157.5
Equity securities		8.0			8.0			26.6			26.1
Short-term investments and cash		0.2			0.2			0.7			0.8
Other invested assets
Limited partnerships		3.0			19.3			17.7			18.9
Dividends from Parent's shares		9.2			7.3			27.7			21.9
Other		(0.2	)		0.9			1.4			3.2
Gross investment income before adjustments		66.6			88.1			214.9			228.4
Funds held interest income (expense)		0.9			1.0			4.3			4.3
Interest income from Parent		1.0			-			3.2			-
Gross investment income		68.7			89.1			222.5			232.7
Investment expenses		(5.3	)		(5.6	)		(15.6	)		(16.8	)
Net investment income	$	63.4		$	83.4		$	206.9		$	215.9
(Some amounts may not reconcile due to rounding.)

The following tables show a comparison of various investment yields for the periods indicated:

	At	At
	September 30,	December 31,
	2015	2014
Imbedded pre-tax yield of cash and invested assets at December 31	3.3%	3.1%
Imbedded after-tax yield of cash and invested assets at December 31	2.3%	2.2%

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2015	2014	2015	2014
Annualized pre-tax yield on average cash and invested assets	3.1%	3.8%	3.3%	3.4%
Annualized after-tax yield on average cash and invested assets	2.1%	2.6%	2.3%	2.4%

33

Net Realized Capital Gains (Losses).

The following table presents the composition of our net realized capital gains (losses) for the periods indicated:

	Three Months Ended September 30,									Nine Months Ended September 30,
(Dollars in millions)	2015			2014			Variance			2015			2014			Variance
Gains (losses) from sales:
Fixed maturity securities, market value
Gains	$	1.4		$	4.3		$	(2.9	)	$	9.0		$	9.4		$	(0.4	)
Losses		(8.1	)		(3.3	)		(4.8	)		(39.4	)		(11.3	)		(28.1	)
Total		(6.7	)		1.0			(7.7	)		(30.4	)		(1.9	)		(28.5	)
Fixed maturity securities, fair value
Gains		-			0.1			(0.1	)		-			1.3			(1.3	)
Losses		-			-			-			-			(0.3	)		0.3
Total		-			0.1			(0.1	)		-			1.0			(1.0	)
Equity securities, fair value
Gains		5.3			1.7			3.6			17.7			12.0			5.7
Losses		(18.9	)		(4.3	)		(14.6	)		(31.7	)		(14.2	)		(17.5	)
Total		(13.6	)		(2.6	)		(11.0	)		(14.0	)		(2.2	)		(11.8	)
Total net realized gains (losses) from sales
Gains		6.6			6.1			0.5			26.7			22.7			4.0
Losses		(26.9	)		(7.6	)		(19.3	)		(71.0	)		(25.8	)		(45.2	)
Total		(20.3	)		(1.4	)		(18.9	)		(44.3	)		(3.0	)		(41.3	)
Gain on sale of subsidiary:		94.7			-			94.7			94.7			-			94.7
Other than temporary impairments:		(10.5	)		-			(10.5	)		(43.4	)		(0.2	)		(43.2	)
Gains (losses) from fair value adjustments:
Fixed maturities, fair value		-			(0.9	)		0.9			0.1			(0.9	)		1.0
Equity securities, fair value		(101.3	)		(12.6	)		(88.7	)		(85.7	)		65.4			(151.1	)
Other invested assets, fair value		(84.3	)		14.8			(99.1	)		29.5			59.7			(30.2	)
Total		(185.6	)		1.2			(186.8	)		(56.1	)		124.1			(180.2	)
Total net realized gains (losses)	$	(121.7	)	$	(0.2	)	$	(121.5	)	$	(49.2	)	$	120.9		$	(170.0	)
(Some amounts may not reconcile due to rounding)

Net realized capital losses were $121.7 million and $0.2 million for the three months ended September 30, 2015 and 2014, respectively. For the three months ended September 30, 2015, we recorded $185.6 million of net realized capital losses due to fair value re-measurements on equity securities and other invested assets, $20.3 million of net realized capital losses from sales of fixed maturity and equity securities and $10.5 million of other-than-temporary impairments, partially offset by a $94.7 million gain on the sale of a subsidiary. The fixed maturity and equity sales for the three months ended September 30, 2015 related primarily to adjusting the portfolios for overall market changes and individual credit shifts.  For the three months ended September 30, 2014, we recorded $1.4 million of net realized capital losses from sales of fixed maturity and equity securities, partially offset by $1.2 million of net realized capital gains due to fair value re-measurements on fixed maturity, equity securities and other invested assets.

Net realized capital losses were $49.2 million and net realized capital gains were $120.9 million for the nine months ended September 30, 2015 and 2014, respectively. For the nine months ended September 30, 2015, we recorded $56.1 million of net realized capital losses due to fair value re-measurements on fixed maturity securities, equity securities and other invested assets, $44.3 million of net realized capital losses from sales of fixed maturity and equity securities, $43.4 million of other-than-temporary impairments, partially offset by a $94.7 million gain on the sale of a subsidiary. The fixed maturity and equity sales for the nine months ended September 30, 2015 related primarily to adjusting the portfolios for overall market

34

changes and individual credit shifts.  For the nine months ended September 30, 2014, we recorded $124.1 million of net realized capital gains due to fair value re-measurements on fixed maturity, equity securities and other invested assets, partially offset by $3.0 million of net realized capital losses from sales of fixed maturity and equity securities and $0.2 million of other-than-temporary impairments.

Segment Results.

The U.S. Reinsurance operation writes property and casualty reinsurance and specialty lines of business, including Marine, Aviation, Surety and A&H business, on both a treaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies primarily within the U.S.  The International operation writes non-U.S. property and casualty reinsurance through Everest Re's branches in Canada, Singapore and through offices in Brazil, Miami and New Jersey.  The Insurance operation writes property and casualty insurance directly and through general agents, brokers and surplus lines brokers within the U.S.

These segments are managed independently, but conform with corporate guidelines with respect to pricing, risk management, control of aggregate catastrophe exposures, capital, investments and support operations.  Management generally monitors and evaluates the financial performance of these operating segments based upon their underwriting results.

Underwriting results include earned premium less losses and LAE incurred, commission and brokerage expenses and other underwriting expenses.  We measure our underwriting results using ratios, in particular loss, commission and brokerage and other underwriting expense ratios, which respectively, divide incurred losses, commissions and brokerage and other underwriting expenses by premiums earned.

Our loss and LAE reserves are our best estimate of our ultimate liability for unpaid claims.  We re-evaluate our estimates on an ongoing basis, including all prior period reserves, taking into consideration all available information and, in particular, recently reported loss claim experience and trends related to prior periods.  Such re-evaluations are recorded in incurred losses in the period in which the re-evaluation is made.

The following discusses the underwriting results for each of our segments for the periods indicated:

U.S. Reinsurance.

The following table presents the underwriting results and ratios for the U.S. Reinsurance segment for the periods indicated.

	Three Months Ended September 30,												Nine Months Ended September 30,
(Dollars in millions)	2015			2014			Variance			% Change			2015			2014			Variance			% Change
Gross written premiums	$	601.6		$	679.9		$	(78.3	)		-11.5	%	$	1,615.3		$	1,663.3		$	(48.0	)		-2.9	%
Net written premiums		247.4			304.4			(57.1	)		-18.8	%		672.8			771.1			(98.3	)		-12.7	%
Premiums earned	$	235.3		$	275.5		$	(40.2	)		-14.6	%	$	726.1		$	740.0		$	(13.9	)		-1.9	%
Incurred losses and LAE		109.1			125.5			(16.3	)		-13.0	%		337.1			371.1			(34.1	)		-9.2	%
Commission and brokerage		48.9			51.2			(2.4	)		-4.6	%		141.9			144.7			(2.8	)		-1.9	%
Other underwriting expenses		13.7			12.1			1.6			13.2	%		37.1			33.1			4.0			12.1	%
Underwriting gain (loss)	$	63.5		$	86.7		$	(23.2	)		-26.7	%	$	210.0		$	191.0		$	19.0			9.9	%
										Point Chg												Point Chg
Loss ratio		46.4	%		45.5	%					0.9			46.4	%		50.2	%					(3.8	)
Commission and brokerage ratio		20.8	%		18.6	%					2.2			19.5	%		19.6	%					(0.1	)
Other underwriting expense ratio		5.8	%		4.4	%					1.4			5.2	%		4.4	%					0.8
Combined ratio		73.0	%		68.5	%					4.5			71.2	%		74.2	%					(3.1	)
(Some amounts may not reconcile due to rounding)

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Premiums.Gross written premiums decreased by 11.5% to $601.6 million for the three months ended September 30, 2015 from $679.9 million for the three months ended September 30, 2014, primarily due to a decrease in treaty casualty and treaty property lines of business resulting from cancellation of some contracts. Net written premiums decreased by 18.8% to $247.4 million for the three months ended September 30, 2015 compared to $304.4 million for the three months ended September 30, 2014.  The difference between the change in gross written premiums compared to the change in net written premiums was due to a varying utilization of reinsurance primarily related to affiliated quota share contracts.  Premiums earned decreased 14.6% to $235.3 million for the three months ended September 30, 2015 compared to $275.5 million for the three months ended September 30, 2014.  The change in premiums earned relative to net written premiums is primarily the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.

Gross written premiums decreased by 2.9% to $1,615.3 million for the nine months ended September 30, 2015 from $1,663.3 million for the nine months ended September 30, 2014, primarily due to a decline in treaty casualty and treaty property lines of business resulting from cancellation of some contracts. Net written premiums decreased by 12.7% to $672.8 million for the nine months ended September 30, 2015 compared to $771.1 million for the nine months ended September 30, 2014.  The difference between the change in gross written premiums compared to the change in net written premiums is primarily due to a varying utilization of reinsurance primarily related to affiliated quota share contracts.  Premiums earned decreased 1.9% to $726.1 million for the nine months ended September 30, 2015 compared to $740.0 million for the nine months ended September 30, 2014.  The change in premiums earned relative to net written premiums is primarily the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.

Incurred Losses and LAE.The following tables present the incurred losses and LAE for the U.S. Reinsurance segment for the periods indicated.

	Three Months Ended September 30,
	Current			Ratio %/				Prior			Ratio %/				Total			Ratio %/
(Dollars in millions)	Year			Pt Change				Years			Pt Change				Incurred			Pt Change
2015
Attritional	$	108.1			45.9	%		$	1.5			0.6	%		$	109.6			46.5	%
Catastrophes		0.1			0.1	%			(0.5	)		-0.2	%			(0.4	)		-0.1	%
Total segment	$	108.2			46.0	%		$	0.9			0.4	%		$	109.1			46.4	%
2014
Attritional	$	125.2			45.4	%		$	-			0.0	%		$	125.2			45.4	%
Catastrophes		-			0.0	%			0.3			0.1	%			0.3			0.1	%
Total segment	$	125.2			45.4	%		$	0.3			0.1	%		$	125.5			45.5	%
Variance 2015/2014
Attritional	$	(17.1	)		0.5		pts	$	1.5			0.6		pts	$	(15.6	)		1.1		pts
Catastrophes		0.1			0.1		pts		(0.8	)		(0.3	)	pts		(0.7	)		(0.2	)	pts
Total segment	$	(17.0	)		0.6		pts	$	0.6			0.3		pts	$	(16.3	)		0.9		pts
(Some amounts may not reconcile due to rounding.)

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	Nine Months Ended September 30,
	Current			Ratio %/				Prior			Ratio %/				Total			Ratio %/
(Dollars in millions)	Year			Pt Change				Years			Pt Change				Incurred			Pt Change
2015
Attritional	$	360.9			49.7	%		$	(17.5	)		-2.4	%		$	343.5			47.3	%
Catastrophes		0.1			0.0	%			(6.5	)		-0.9	%			(6.4	)		-0.9	%
Total segment	$	361.1			49.7	%		$	(24.0	)		-3.3	%		$	337.1			46.4	%
2014
Attritional	$	373.2			50.6	%		$	(4.9	)		-0.7	%		$	368.3			49.9	%
Catastrophes		3.2			0.4	%			(0.4	)		-0.1	%			2.8			0.3	%
Total segment	$	376.4			51.0	%		$	(5.3	)		-0.8	%		$	371.1			50.2	%
Variance 2015/2014
Attritional	$	(12.3	)		(0.9	)	pts	$	(12.6	)		(1.7	)	pts	$	(24.8	)		(2.6	)	pts
Catastrophes		(3.1	)		(0.4	)	pts		(6.1	)		(0.8	)	pts		(9.2	)		(1.2	)	pts
Total segment	$	(15.3	)		(1.3	)	pts	$	(18.7	)		(2.5	)	pts	$	(34.1	)		(3.8	)	pts
(Some amounts may not reconcile due to rounding.)

Incurred losses decreased by 13.0% to $109.1 million for the three months ended September 30, 2015 compared to $125.5 million for the three months ended September 30, 2014, primarily due to a decrease in current year attritional losses of $17.1 million related to the decline in earned premiums, partially offset by $6.7 million of losses related to the explosion at the Chinese port of Tianjin. The $0.1 million of current year catastrophe losses for the three months ended September 30, 2015 were due to the New South Wales storms. There were no current year catastrophe losses for the three months ended September 30, 2014.

Incurred losses decreased by 9.2% to $337.1 million for the nine months ended September 30, 2015 compared to $371.1 million for the nine months ended September 30, 2014, primarily resulting from a decrease in current year attritional losses of $12.3 due to the impact of the decline in earned premiums partially offset by $6.7 million of losses related to the explosion at the Chinese port of Tianjin, favorable development of $12.6 million on prior years' attritional losses in 2015 compared to 2014 mainly related to treaty casualty and marine lines of business and favorable development of $6.1 million on prior years' catastrophe losses in 2015 compared to 2014 mainly related to U.S. Storms. The $0.1 million of current year catastrophe losses for the nine months ended September 30, 2015 were due to the New South Wales storms. The $3.2 million of current year catastrophe losses for the nine months ended September 30, 2014 related to the Japan snowstorm.

Segment Expenses.  Commission and brokerage decreased by 4.6% to $48.9 million for the three months ended September 30, 2015 compared to $51.2 million for the three months ended September 30, 2014. Commission and brokerage decreased by 1.9% to $141.9 million for the nine months ended September 30, 2015 compared to $144.7 million for the nine months ended September 30, 2014. This decrease was primarily due to the impact of the decrease in premiums earned and changes related to the affiliated quota share contracts.

Segment other underwriting expenses increased to $13.7 million for the three months ended September 30, 2015 from $12.1 million for the three months ended September 30, 2014. Segment other underwriting expenses increased to $37.1 million for the nine months ended September 30, 2015 from $33.1 million for the nine months ended September 30, 2014. The increases were primarily due to the impact of changes in the mix of business and higher employee benefit costs.

37

International.

The following table presents the underwriting results and ratios for the International segment for the periods indicated.

	Three Months Ended September 30,												Nine Months Ended September 30,
(Dollars in millions)	2015			2014			Variance			% Change			2015			2014			Variance			% Change
Gross written premiums	$	374.1		$	419.5		$	(45.3	)		-10.8	%	$	1,019.4		$	1,214.3		$	(194.9	)		-16.1	%
Net written premiums		148.0			157.9			(9.9	)		-6.3	%		417.1			446.6			(29.5	)		-6.6	%
Premiums earned	$	135.1		$	145.7		$	(10.5	)		-7.2	%	$	433.8		$	438.4		$	(4.6	)		-1.1	%
Incurred losses and LAE		128.5			113.7			14.8			13.0	%		339.9			286.2			53.8			18.8	%
Commission and brokerage		27.9			23.8			4.2			17.5	%		93.2			80.3			12.8			16.0	%
Other underwriting expenses		9.1			8.8			0.4			4.2	%		25.3			24.7			0.6			2.4	%
Underwriting gain (loss)	$	(30.4	)	$	(0.6	)	$	(29.8	)	NM			$	(24.6	)	$	47.2		$	(71.8	)		-152.2	%
										Point Chg												Point Chg
Loss ratio		95.1	%		78.1	%					17.0			78.4	%		65.3	%					13.1
Commission and brokerage ratio		20.7	%		16.3	%					4.4			21.5	%		18.3	%					3.2
Other underwriting expense ratio		6.7	%		6.0	%					0.7			5.8	%		5.6	%					0.2
Combined ratio		122.5	%		100.4	%					22.1			105.7	%		89.2	%					16.5
(NM, not meaningful)
(Some amounts may not reconcile due to rounding)

Premiums.Gross written premiums decreased by 10.8% to $374.1 million for the three months ended September 30, 2015 compared to $419.5 million for the three months ended September 30, 2014, primarily due to the decline in Latin American and Asian business and the negative impact of approximately $29.9 million from the movement of foreign exchange rates.  Net written premiums decreased by 6.3% to $148.0 million for the three months ended September 30, 2015 compared to $157.9 million for the three months ended September 30, 2014. The difference between the change in gross written premiums compared to the change in net written premiums is primarily due to varying utilization of reinsurance related to the quota share contracts.  Premiums earned decreased 7.2% to $135.1 million for the three months ended September 30, 2015 compared to $145.7 million for the three months ended September 30, 2014.  The change in premiums earned relative to net written premiums is primarily the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.

Gross written premiums decreased by 16.1% to $1,019.4 million for the nine months ended September 30, 2015 compared to $1,214.3 million for the nine months ended September 30, 2014, primarily due to the decline in Latin American and Asian business, reductions in premiums related to quota share agreements and the negative impact of approximately $65.1 million from the movement of foreign exchange rates.  Net written premiums decreased by 6.6% to $417.1 million for the nine months ended September 30, 2015 compared to $446.6 million for the nine months ended September 30, 2014.  The difference between the change in gross written premiums compared to the change in net written premiums is primarily due to varying utilization of reinsurance related to the quota share contracts.  Premiums earned decreased 1.1% to $433.8 million for the nine months ended September 30, 2015 compared to $438.4 million for the nine months ended September 30, 2014.  The change in premiums earned relative to net written premiums is primarily the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.

38

Incurred Losses and LAE. The following tables present the incurred losses and LAE for the International segment for the periods indicated.

	Three Months Ended September 30,
	Current		Ratio %/				Prior			Ratio %/				Total		Ratio %/
(Dollars in millions)	Year		Pt Change				Years			Pt Change				Incurred		Pt Change
2015
Attritional	$	111.0		82.2	%		$	0.9			0.7	%		$	112.0		82.9	%
Catastrophes		17.0		12.6	%			(0.6	)		-0.4	%			16.5		12.2	%
Total segment	$	128.1		94.8	%		$	0.4			0.3	%		$	128.5		95.1	%
2014
Attritional	$	106.6		73.2	%		$	(3.8	)		-2.6	%		$	102.8		70.6	%
Catastrophes		14.7		10.1	%			(3.7	)		-2.6	%			10.9		7.5	%
Total segment	$	121.3		83.3	%		$	(7.6	)		-5.2	%		$	113.7		78.1	%
Variance 2015/2014
Attritional	$	4.4		9.0		pts	$	4.7			3.3		pts	$	9.2		12.3		pts
Catastrophes		2.3		2.5		pts		3.1			2.2		pts		5.6		4.7		pts
Total segment	$	6.8		11.5		pts	$	8.0			5.5		pts	$	14.8		17.0		pts
(Some amounts may not reconcile due to rounding.)

	Nine Months Ended September 30,
	Current		Ratio %/				Prior			Ratio %/				Total		Ratio %/
(Dollars in millions)	Year		Pt Change				Years			Pt Change				Incurred		Pt Change
2015
Attritional	$	304.9		70.3	%		$	1.6			0.4	%		$	306.5		70.7	%
Catastrophes		35.1		8.1	%			(1.7	)		-0.4	%			33.4		7.7	%
Total segment	$	340.0		78.4	%		$	(0.1	)		0.0	%		$	339.9		78.4	%
2014
Attritional	$	263.7		60.1	%		$	(4.1	)		-0.9	%		$	259.7		59.2	%
Catastrophes		32.0		7.3	%			(5.5	)		-1.2	%			26.5		6.1	%
Total segment	$	295.7		67.4	%		$	(9.5	)		-2.1	%		$	286.2		65.3	%
Variance 2015/2014
Attritional	$	41.2		10.2		pts	$	5.7			1.3		pts	$	46.8		11.5		pts
Catastrophes		3.1		0.8		pts		3.8			0.8		pts		6.9		1.6		pts
Total segment	$	44.3		11.0		pts	$	9.4			2.1		pts	$	53.8		13.1		pts
(Some amounts may not reconcile due to rounding.)

Incurred losses and LAE increased by 13.0% to $128.5 million for the three months ended September 30, 2015 compared to $113.7 million for the three months ended September 30, 2014, primarily due to the increase in current year attritional losses of $4.4 million, mainly related to $14.9 million of losses from the explosion at the Chinese port of Tianjin, partially offset by the impact of the decline in earned premiums. Losses also increased due to favorable development in 2014 on both prior years' attritional and prior years' catastrophe losses which did not recur or recur to the same level in 2015. The $17.0 million of current year catastrophe losses for the three months ended September 30, 2015 were entirely related to the 2015 Chilean earthquake. The $14.7 million of current year catastrophe losses for the three months ended September 30, 2014 were due to Hurricane Odile ($9.9 million) and the 2014 Chilean earthquake ($4.8 million).

Incurred losses and LAE increased by 18.8% to $339.9 million for the nine months ended September 30, 2015 compared to $286.2 million for the nine months ended September 30, 2014, primarily due to the increase in current year attritional losses of $41.2 million, mainly related to $14.9 million of losses from the explosion at the Chinese port of Tianjin.  Losses also increased due to favorable development in 2014 on both prior years' attritional and prior years' catastrophe losses which did not recur or recur to the same level in 2015. The $35.1 million of current year catastrophe losses for the nine months ended September 30, 2015 were due to the 2015 Chilean earthquake ($17.4 million), Northern Chile storms ($9.8 million) and the New South Wales storms ($7.9 million). The $32.0 million of current year catastrophe losses for the nine months ended September 30, 2014 were due to the 2014 Chilean earthquake ($12.1 million), the Japan snowstorm ($10.0 million) and Hurricane Odile ($9.9 million).

39

Segment Expenses.Commission and brokerage increased 17.5% to $27.9 million for the three months ended September 30, 2015 compared to $23.8 million for the three months ended September 30, 2014 and increased 16.0% to $93.2 million for the nine months ended September 30, 2015 compared to $80.3 million for the nine months ended September 30, 2014. The variances were primarily due to the impact of changes in the mix of business and changes in affiliated quota share agreements.

Segment other underwriting expenses increased slightly to $9.1 million for the three months ended September 30, 2015 compared to $8.8 million for the three months ended September 30, 2014, and increased slightly to $25.3 million for the nine months ended September 30, 2015 compared to $24.7 million for the nine months ended September 30, 2014.

Insurance.

The following table presents the underwriting results and ratios for the Insurance segment for the periods indicated.

	Three Months Ended September 30,												Nine Months Ended September 30,
(Dollars in millions)	2015			2014			Variance			% Change			2015			2014			Variance			% Change
Gross written premiums	$	473.0		$	354.0		$	119.0			33.6	%	$	1,130.2		$	885.0		$	245.2			27.7	%
Net written premiums		203.7			149.5			54.2			36.2	%		490.1			386.7			103.4			26.8	%
Premiums earned	$	175.6		$	148.4		$	27.2			18.3	%	$	428.7		$	382.4		$	46.3			12.1	%
Incurred losses and LAE		133.2			141.4			(8.2	)		-5.8	%		325.5			322.8			2.7			0.8	%
Commission and brokerage		(4.7	)		4.2			(8.8	)		-211.9	%		6.5			15.5			(9.0	)		-58.0	%
Other underwriting expenses		34.1			29.7			4.4			14.7	%		94.7			79.3			15.4			19.5	%
Underwriting gain (loss)	$	13.0		$	(26.9	)	$	39.9			-148.5	%	$	1.9		$	(35.2	)	$	37.1			-105.4	%
										Point Chg												Point Chg
Loss ratio		75.8	%		95.3	%					(19.5	)		75.9	%		84.4	%					(8.5	)
Commission and brokerage ratio		-2.7	%		2.8	%					(5.5	)		1.5	%		4.1	%					(2.6	)
Other underwriting expense ratio		19.5	%		20.0	%					(0.5	)		22.2	%		20.7	%					1.5
Combined ratio		92.6	%		118.1	%					(25.5	)		99.6	%		109.2	%					(9.6	)
(Some amounts may not reconcile due to rounding)

Premiums. Gross written premiums increased by 33.6% to $473.0 million for the three months ended September 30, 2015 compared to $354.0 million for the three months ended September 30, 2014.  This increase was primarily driven by increases in various lines of business as the company focused on expanding its insurance operations. Net written premiums increased by 36.2% to $203.7 million for the three months ended September 30, 2015 compared to $149.5 million for the three months ended September 30, 2014, which is consistent with the change in gross written premiums.  Premiums earned increased 18.3% to $175.6 million for the three months ended September 30, 2015 compared to $148.4 million for the three months ended September 30, 2014. The change in premiums earned relative to net written premiums is the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.

Gross written premiums increased by 27.7% to $1,130.2 million for the nine months ended September 30, 2015 compared to $885.0 million for the nine months ended September 30, 2014.  This increase was primarily driven by an increase in various lines of business as the company focused on expanding its insurance operations.  Net written premiums increased by 26.8% to $490.1 million for the nine months ended September 30, 2015 compared to $386.7 million for the nine months ended September 30, 2014, which is consistent with the change in gross written premiums.  Premiums earned increased 12.1% to $428.7 million for the nine months ended September 30, 2015 compared to $382.4 million for the nine months ended September 30, 2014. The change in premiums earned relative to net written premiums is the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.

40

Incurred Losses and LAE.The following tables present the incurred losses and LAE for the Insurance segment for the periods indicated.

	Three Months Ended September 30,
	Current			Ratio %/				Prior		Ratio %/				Total			Ratio %/
(Dollars in millions)	Year			Pt Change				Years		Pt Change				Incurred			Pt Change
2015
Attritional	$	132.0			75.2	%		$	0.9		0.5	%		$	132.9			75.7	%
Catastrophes		-			0.0	%			0.2		0.1	%			0.2			0.1	%
Total segment	$	132.0			75.2	%		$	1.2		0.7	%		$	133.2			75.8	%
2014
Attritional	$	140.6			94.8	%		$	0.8		0.5	%		$	141.4			95.3	%
Catastrophes		-			0.0	%			-		0.0	%			-			0.0	%
Total segment	$	140.6			94.8	%		$	0.8		0.5	%		$	141.4			95.3	%
Variance 2015/2014
Attritional	$	(8.6	)		(19.6	)	pts	$	0.1		-		pts	$	(8.5	)		(19.6	)	pts
Catastrophes		-			-		pts		0.2		0.1		pts		0.2			0.1		pts
Total segment	$	(8.6	)		(19.6	)	pts	$	0.4		0.1		pts	$	(8.2	)		(19.5	)	pts
(Some amounts may not reconcile due to rounding.)

	Nine Months Ended September 30,
	Current			Ratio %/				Prior		Ratio %/				Total		Ratio %/
(Dollars in millions)	Year			Pt Change				Years		Pt Change				Incurred		Pt Change
2015
Attritional	$	307.4			71.7	%		$	17.9		4.1	%		$	325.3		75.8	%
Catastrophes		-			0.0	%			0.3		0.1	%			0.3		0.1	%
Total segment	$	307.4			71.7	%		$	18.2		4.2	%		$	325.5		75.9	%
2014
Attritional	$	319.4			83.5	%		$	3.4		0.9	%		$	322.8		84.4	%
Catastrophes		-			0.0	%			0.1		0.0	%			0.1		0.0	%
Total segment	$	319.4			83.5	%		$	3.4		0.9	%		$	322.8		84.4	%
Variance 2015/2014
Attritional	$	(12.0	)		(11.8	)	pts	$	14.5		3.2		pts	$	2.5		(8.6	)	pts
Catastrophes		-			-		pts		0.2		0.1		pts		0.2		0.1		pts
Total segment	$	(12.0	)		(11.8	)	pts	$	14.7		3.3		pts	$	2.7		(8.5	)	pts
(Some amounts may not reconcile due to rounding.)

Incurred losses and LAE decreased by 5.8% to $133.2 million for the three months ended September 30, 2015 compared to $141.4 million for the three months ended September 30, 2014, mainly due to a decrease of $8.6 million in current year attritional losses related to impacts from affiliated quota share agreements. There were no current year catastrophe losses for the three months ended September 30, 2015 and 2014.

Incurred losses and LAE increased by 0.8% to $325.5 million for the nine months ended September 30, 2015 compared to $322.8 million for the nine months ended September 30, 2014, mainly due to an increase of $14.5 million in prior years' attritional losses related primarily to run-off excess casualty business, partially offset by a decline of $12.0 million in current year attritional losses related to impacts from affiliated quota share agreements. There were no current year catastrophe losses for the nine months ended September 30, 2015 and 2014.

41

Segment Expenses.Commission and brokerage decreased to ($4.7) million for the three months ended September 30, 2015 compared to $4.2 million for the three months ended September 30, 2014 and decreased to $6.5 million for the nine months ended September 30, 2015 compared to $15.5 million for the nine months ended September 30, 2014. These decreases were primarily driven by changes in the mix of business and impacts from affiliated quota share agreements.

Segment other underwriting expenses increased to $34.1 million for the three months ended September 30, 2015 compared to $29.7 million for the three months ended September 30, 2014. Segment other underwriting expenses increased to $94.7 million for the nine months ended September 30, 2015 compared to $79.3 million for the nine months ended September 30, 2014. The increases were primarily due to the impact of the increases in premiums earned and increased focus on the insurance operations.

Market Sensitive Instruments.

The SEC's Financial Reporting Release #48 requires registrants to clarify and expand upon the existing financial statement disclosure requirements for derivative financial instruments, derivative commodity instruments and other financial instruments (collectively, "market sensitive instruments").  We do not generally enter into market sensitive instruments for trading purposes.

Our current investment strategy seeks to maximize after-tax income through a high quality, diversified, taxable and tax-preferenced fixed maturity portfolio, while maintaining an adequate level of liquidity.  Our mix of taxable and tax-preferenced investments is adjusted periodically, consistent with our current and projected operating results, market conditions and our tax position.  The fixed maturity securities in the investment portfolio are comprised of non-trading available for sale securities.  Additionally, we have invested in equity securities.

The overall investment strategy considers the scope of present and anticipated Company operations.  In particular, estimates of the financial impact resulting from non-investment asset and liability transactions, together with our capital structure and other factors, are used to develop a net liability analysis.  This analysis includes estimated payout characteristics for which our investments provide liquidity.  This analysis is considered in the development of specific investment strategies for asset allocation, duration and credit quality.  The change in overall market sensitive risk exposure principally reflects the asset changes that took place during the period.

Interest Rate Risk.  Our $9.4 billion investment portfolio, at September 30, 2015, is principally comprised of fixed maturity securities, which are generally subject to interest rate risk and some foreign currency exchange rate risk, and some equity securities, which are subject to price fluctuations and some foreign exchange rate risk.  The overall economic impact of the foreign exchange risks on the investment portfolio is partially mitigated by changes in the dollar value of foreign currency denominated liabilities and their associated income statement impact.

Interest rate risk is the potential change in value of the fixed maturity securities portfolio, including short-term investments, from a change in market interest rates.  In a declining interest rate environment, it includes prepayment risk on the $790.7 million of mortgage-backed securities in the $5,384.4 million fixed maturity portfolio.  Prepayment risk results from potential accelerated principal payments that shorten the average life and thus the expected yield of the security.

42

The table below displays the potential impact of market value fluctuations and after-tax unrealized appreciation on our fixed maturity portfolio (including $382.2 million of short-term investments) for the period indicated based on upward and downward parallel and immediate 100 and 200 basis point shifts in interest rates.  For legal entities with a U.S. dollar functional currency, this modeling was performed on each security individually.  To generate appropriate price estimates for mortgage-backed securities, changes in prepayment expectations under different interest rate environments were taken into account.  For legal entities with non-U.S. dollar functional currency, the effective duration of the involved portfolio of securities was used as a proxy for the market value change under the various interest rate change scenarios.

	Impact of Interest Rate Shift in Basis Points
	At September 30, 2015
(Dollars in millions)	-200			-100			0			100			200
Total Market/Fair Value	$	6,059.0		$	5,916.8		$	5,766.6		$	5,607.1		$	5,442.5
Market/Fair Value Change from Base (%)		5.1	%		2.6	%		0.0	%		-2.8	%		-5.6	%
Change in Unrealized Appreciation
After-tax from Base ($)	$	190.1		$	97.6		$	-		$	(103.7	)	$	(210.7	)

We had $7,878.1 million and $7,843.9 million of gross reserves for losses and LAE as of September 30, 2015 and December 31, 2014, respectively.  These amounts are recorded at their nominal value, as opposed to present value, which would reflect a discount adjustment to reflect the time value of money.  Since losses are paid out over a period of time, the present value of the reserves is less than the nominal value.  As interest rates rise, the present value of the reserves decreases and, conversely, as interest rates decline, the present value increases.  These movements are the opposite of the interest rate impacts on the fair value of investments.  While the difference between present value and nominal value is not reflected in our financial statements, our financial results will include investment income over time from the investment portfolio until the claims are paid.  Our loss and loss reserve obligations have an expected duration that is reasonably consistent with our fixed income portfolio.

Equity Risk.  Equity risk is the potential change in fair and/or market value of the common stock and preferred stock portfolios arising from changing prices.  Our equity investments consist of a diversified portfolio of individual securities.  The primary objective of the equity portfolio is to obtain greater total return relative to bonds over time through market appreciation and income.

The table below displays the impact on fair/market value and after-tax change in fair/market value of a 10% and 20% change in equity prices up and down for the periods indicated.

	Impact of Percentage Change in Equity Fair/Market Values
	At September 30, 2015
(Dollars in millions)	-20%			-10%			0%		10%		20%
Fair/Market Value of the Equity Portfolio	$	959.5		$	1,079.4		$	1,199.3	$	1,319.3	$	1,439.2
After-tax Change in Fair/Market Value		(155.9	)		(78.0	)		-		78.0		155.9

Foreign Exchange Risk.  Foreign currency risk is the potential change in value, income and cash flow arising from adverse changes in foreign currency exchange rates.  Each of our non-U.S. ("foreign") operations maintains capital in the currency of the country of its geographic location consistent with local regulatory guidelines.  Each foreign operation may conduct business in its local currency, as well as the currency of other countries in which it operates.  The primary foreign currency exposures for these foreign operations are the Singapore and Canadian Dollars.  We mitigate foreign exchange exposure by generally matching the currency and duration of our assets to our corresponding operating liabilities.  In accordance with FASB guidance, we translate the assets, liabilities and income of non-U.S. dollar functional currency legal entities to the U.S. dollar.  This translation amount is reported as a component of other comprehensive income.  As of September 30, 2015, there has been no material change in exposure to foreign exchange rates as compared to December 31, 2014.

43

SAFE HARBOR DISCLOSURE

This report contains forward-looking statements within the meaning of the U.S. federal securities laws.  We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the federal securities laws.  In some cases, these statements can be identified by the use of forward-looking words such as "may", "will", "should", "could", "anticipate", "estimate", "expect", "plan", "believe", "predict", "potential" and "intend".  Forward-looking statements contained in this report include information regarding our reserves for losses and LAE, the adequacy of our provision for uncollectible balances, estimates of our catastrophe exposure, the effects of catastrophic events on our financial statements and the ability of our subsidiaries to pay dividends.  Forward-looking statements only reflect our expectations and are not guarantees of performance.  These statements involve risks, uncertainties and assumptions.  Actual events or results may differ materially from our expectations.  Important factors that could cause our actual events or results to be materially different from our expectations include those discussed under the caption ITEM 1A, "Risk Factors" in the Company's most recent 10-K filing.  We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Market Risk Instruments.  See "Market Sensitive Instruments" in PART I – ITEM 2.

ITEM 4.CONTROLS AND PROCEDURES

As of the end of the period covered by this report, our management carried out an evaluation, with the participation of the Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the "Exchange Act")).  Based on their evaluation, the Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures are effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act are recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.  Our management, with the participation of the Chief Executive Officer and Chief Financial Officer, also conducted an evaluation of our internal control over financial reporting to determine whether any changes occurred during the quarter covered by this report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.  Based on that evaluation, there has been no such change during the quarter covered by this report.

PART II

ITEM 1.        LEGAL PROCEEDINGS

In the ordinary course of business, the Company is involved in lawsuits, arbitrations and other formal and informal dispute resolution procedures, the outcomes of which will determine the Company's rights and obligations under insurance and reinsurance agreements.  In some disputes, the Company seeks to enforce its rights under an agreement or to collect funds owing to it.  In other matters, the Company is resisting attempts by others to collect funds or enforce alleged rights.  These disputes arise from time to time and are ultimately resolved through both informal and formal means, including negotiated resolution, arbitration and litigation.  In all such matters, the Company believes that its positions are legally and commercially reasonable.  The Company considers the statuses of these proceedings when determining its reserves for unpaid loss and loss adjustment expenses.

Aside from litigation and arbitrations related to these insurance and reinsurance agreements, the Company is not a party to any other material litigation or arbitration.

44

ITEM 1A.  RISK FACTORS

No material changes.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3.        DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4.        MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5.        OTHER INFORMATION

None.

ITEM 6.        EXHIBITS

Exhibit Index:
Exhibit No.	Description
31.1	Section 302 Certification of Dominic J. Addesso
31.2	Section 302 Certification of Craig Howie
32.1	Section 906 Certification of Dominic J. Addesso and Craig Howie
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema
101.CAL	XBRL Taxonomy Extension Calculation Linkbase
101.DEF	XBRL Taxonomy Extension Definition Linkbase
101.LAB	XBRL Taxonomy Extension Labels Linkbase
101.PRE	XBRL Taxonomy Extension Presentation Linkbase

45

Everest Reinsurance Holdings, Inc.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Everest Reinsurance Holdings, Inc.
(Registrant)
/S/ CRAIG HOWIE
Craig Howie
Executive Vice President and
	Chief Financial Officer
(Duly Authorized Officer and Principal Financial Officer)

Dated:  November 16, 2015

EX-31.1

Exhibit 31.1

CERTIFICATIONS

I, Dominic J. Addesso, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Everest Reinsurance Holdings, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

November 16, 2015

/S/ DOMINIC J. ADDESSO
Dominic J. Addesso
Chairman, President and
	Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATIONS

I, Craig Howie, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Everest Reinsurance Holdings, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

November 16, 2015

/S/ CRAIG HOWIE
Craig Howie
Executive Vice President and
	Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATIONS PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 of Everest Reinsurance Holdings, Inc., a corporation organized under the laws of Delaware (the "Company"), filed with the Securities and Exchange Commission on the date hereof (the "Report"), the undersigned hereby certify, pursuant to 18 U.S.C. ss. 1350, as enacted by section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Report fully complies with the requirements of section 13(a) of the Securities Exchange Act of 1934, and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

November 16, 2015

/S/ DOMINIC J. ADDESSO
Dominic J. Addesso
Chairman, President and
	Chief Executive Officer
/S/ CRAIG HOWIE
Craig Howie
Executive Vice President and
	Chief Financial Officer

XML

Investments (Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Contractual Maturity) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	$ 1,223,976	$ 1,237,220
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(58,072)	(72,254)
Available for sale securities, Greater than 12 months, Market Value	634,866	654,926
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(27,101)	(18,204)
Available-for-sale Securities, Market Value, Total	1,858,842	1,892,146
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(85,173)	(90,458)
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	1,223,976	1,237,220
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(58,072)	(72,254)
Available for sale securities, Greater than 12 months, Market Value	634,866	654,926
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(27,101)	(18,204)
Available-for-sale Securities, Market Value, Total	1,858,842	1,892,146
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(85,173)	(90,458)
Due In One Year Or Less [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	36,780	12,858
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(1,633)	(550)
Available for sale securities, Greater than 12 months, Market Value	17,019	53,528
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(1,710)	(4,224)
Available-for-sale Securities, Market Value, Total	53,799	66,386
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(3,343)	(4,774)
Due In One Year Through Five Years [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	594,454	622,137
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(29,341)	(51,262)
Available for sale securities, Greater than 12 months, Market Value	304,349	243,192
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(15,213)	(6,306)
Available-for-sale Securities, Market Value, Total	898,803	865,329
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(44,554)	(57,568)
Due In Five Years Through Ten Years [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	382,520	467,187
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(23,273)	(18,958)
Available for sale securities, Greater than 12 months, Market Value	109,012	66,630
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(7,616)	(2,018)
Available-for-sale Securities, Market Value, Total	491,532	533,817
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(30,889)	(20,976)
Due After Ten Years [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	57,031	36,615
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(2,805)	(1,000)
Available for sale securities, Greater than 12 months, Market Value	38,022	23,752
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(989)	(995)
Available-for-sale Securities, Market Value, Total	95,053	60,367
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(3,794)	(1,995)
Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	49,224	62,451
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(203)	$ (374)
Available for sale securities, Greater than 12 months, Market Value	8,601
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(29)
Available-for-sale Securities, Market Value, Total	57,825	$ 62,451
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(232)	(374)
Collateralized Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	103,967	35,972
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(817)	(110)
Available for sale securities, Greater than 12 months, Market Value	157,863	267,824
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(1,544)	(4,661)
Available-for-sale Securities, Market Value, Total	261,830	303,796
Available-for-sale Securities, Gross Unrealized Depreciation, Total	$ (2,361)	$ (4,771)

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Senior Notes (Schedule Of Interest Expense Incurred In Connection With Senior Notes) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Senior Notes [Abstract]
Interest expense incurred	$ 4,868	$ 8,256	$ 14,604	$ 16,385

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Other Comprehensive Income (Loss) (Reclassification From Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net realized capital gains (losses)	$ (111,193)	$ (160)	$ (100,445)	$ 121,103
Other underwriting expenses	(56,953)	(50,623)	(157,069)	(137,032)
Income tax expense (benefit)	7,149	(21,720)	(107,306)	(145,498)
NET INCOME (LOSS)	(4,659)	100,141	245,051	344,781
URA(D) On Securities [Member] | Reclassification From Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net realized capital gains (losses)	17,137	(1,070)	73,793	2,054
Income tax expense (benefit)	(5,512)	374	(24,842)	(595)
NET INCOME (LOSS)	11,625	(696)	48,951	1,459
Benefit Plan Liability [Member] | Reclassification From Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other underwriting expenses	2,393	1,269	7,336	3,640
Income tax expense (benefit)	(837)	(444)	(2,567)	(1,274)
NET INCOME (LOSS)	$ 1,556	$ 825	$ 4,769	$ 2,366

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Related-Party Transactions (Premiums And Losses Ceded By The Company To Affiliate) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Bermuda Re [Member]
Related Party Transaction [Line Items]
Ceded written premiums		$ 646,001	$ 664,316	$ 1,713,502	$ 1,706,390
Ceded earned premiums		591,656	598,641	1,708,807	1,613,741
Ceded losses and LAE	[1]	343,660	344,513	984,371	879,336
Everest International [Member]
Related Party Transaction [Line Items]
Ceded written premiums		168	131	313	219
Ceded earned premiums		208	176	441	450
Ceded losses and LAE		(724)	(321)	156	1,823
Everest Canada [Member]
Related Party Transaction [Line Items]
Assumed written premiums		11,046	10,425	29,533	25,650
Assumed earned premiums		9,174	7,106	26,498	17,062
Assumed losses and LAE		4,041	4,104	15,062	10,487
Mt. Logan Re [Member]
Related Party Transaction [Line Items]
Ceded written premiums		68,078	44,728	162,640	93,322
Ceded earned premiums		55,234	38,458	141,668	78,975
Ceded losses and LAE		17,071	3,113	38,542	17,904
Assumed written premiums		4,230	578	11,626	10,497
Assumed earned premiums		$ 4,230	$ 5,786	$ 11,626	$ 10,497
Assumed losses and LAE

[1] (a) Ceded losses and LAE include the Mt. McKinley loss portfolio transfer that constitutes losses ceded under retroactive reinsurance and therefore, in accordance with FASB guidance, amortization of deferred gain on retroactive reinsurance is reflected in other income on the consolidated statements of operations and comprehensive income (loss). Upon the sale of Mt. McKinley, the value of the remaining deferred gain on retroactive reinsurance was included in the calculation of the realized gain on sale of subsidiary.

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Long Term Subordinated Notes (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Percentage of principal amount required for redemption	100.00%
Long Term Subordinated Debt [Member]
Debt Instrument [Line Items]
Debt instrument, stated interest rate	6.60%	6.60%
Percentage of principal amount required for redemption	100.00%
Outstanding debt reduction	$ 161,441
Debt instrument, maturity date	May 01, 2067	May 01, 2067
Long Term Subordinated Debt [Member] | Minimum [Member]
Debt Instrument [Line Items]
Applicable spread on treasury rate	0.25%
Long Term Subordinated Debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Applicable spread on treasury rate	0.50%
Parent Company [Member]
Debt Instrument [Line Items]
Debt instrument, stated interest rate	1.72%
Debt instrument, maturity date	Dec. 31, 2023
Fixed Rate Interest Period [Member] | Long Term Subordinated Debt [Member]
Debt Instrument [Line Items]
Interest basis, 3 month LIBOR plus number of basis points, reset quarterly	2.385%
Fixed Rate Interest Period [Member] | Long Term Subordinated Debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Right to defer interest on one or more occasions for up to number of consecutive years	10 years
Floating Rate Interest Period [Member]
Debt Instrument [Line Items]
Floating rate terms	interest will be based on the 3 month LIBOR plus 238.5 basis points, reset quarterly, payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, subject to Holdings' right to defer interest on one or more occasions for up to ten consecutive years.
Floating Rate Interest Period [Member] | Long Term Subordinated Debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Right to defer interest on one or more occasions for up to number of consecutive years	10 years
Senior Notes 5.4% [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, stated interest rate	5.40%
Debt instrument, maturity date	Oct. 15, 2014
Senior Notes 4.868% [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, stated interest rate	4.868%	4.868%
Debt instrument, maturity date	Jun. 01, 2044	Jun. 01, 2044

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Contingencies (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
The Prudential Insurance Company [Member]
Loss Contingencies [Line Items]
Estimated cost to replace annuities	$ 142,661	$ 142,653
Unaffiliated Life Insurance Company [Member]
Loss Contingencies [Line Items]
Estimated cost to replace annuities	$ 32,414	$ 31,964

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Dispositions (Tables)

9 Months Ended

Sep. 30, 2015

Dispositions [Abstract]

Assets and Liabilities classified as Held for Sale

(Dollars in thousands)
Investments and cash	$	16,223
Reinsurance recoverables		142,057
Deferred tax asset		35,451
Total assets held for sale	$	193,731
Reserve for losses and loss adjustment expenses	$	137,704
Deferred gain on retroactive reinsurance		94,704
Other liabilities		130
Total liabilities held for sale	$	232,538
Net liabilities held for sale	$	(38,807	)

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Dispositions (Assets and Liabilities classified as Held for Sale) (Details) - Mt. Mckinley Insurance Company [Member] $ in Thousands	Jul. 13, 2015 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Investments and cash	$ 16,223
Reinsurance recoverables	142,057
Deferred tax asset	35,451
Total assets held for sale	193,731
Reserve for losses and loss adjustment expenses	137,704
Deferred gain on retroactive reinsurance	94,704
Other liabilities	130
Total liabilites held for sale	232,538
Net liabilities held for sale	$ (38,807)

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Long Term Subordinated Notes (Schedule Of Interest Expense Incurred In Connection With Long Term Subordinated Notes) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Long Term Subordinated Notes [Abstract]
Interest expense incurred	$ 3,937	$ 3,937	$ 11,811	$ 11,811

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Retirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Pension contributions			$ 0	$ 0
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3,203	$ 2,460	9,398	7,381
Interest cost	2,758	2,542	7,926	7,625
Expected return on plan assets	(2,904)	(2,822)	(8,710)	(8,468)
Amortization of unrecognized prior service cost	4	13	15	38
Amortization of net (income) loss	2,312	1,173	6,824	3,356
FAS 88 settlement charge		5,269		5,269
Net periodic benefit cost	5,373	8,635	15,453	15,201
Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	498	407	1,498	1,221
Interest cost	329	342	987	1,026
Amortization of net (income) loss	76	82	497	246
Net periodic benefit cost	$ 903	$ 831	$ 2,982	$ 2,493

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Fair Value (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value [Abstract]

Fair Value Measurement Levels For All Assets, Recorded At Fair And Market Value

			Fair Value Measurement Using:
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
(Dollars in thousands)	September 30, 2015		(Level 1)		(Level 2)		(Level 3)
Assets:
Fixed maturities, market value
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	227,444	$	-	$	227,444	$	-
Obligations of U.S. States and political subdivisions		714,279		-		714,279		-
Corporate securities		1,999,162		-		1,993,887		5,275
Asset-backed securities		132,461		-		132,461		-
Mortgage-backed securities
Commercial		64,521		-		64,521		-
Agency residential		726,035		-		726,035		-
Non-agency residential		168		-		168		-
Foreign government securities		464,707		-		464,707		-
Foreign corporate securities		1,055,585		-		1,049,460		6,125
Total fixed maturities, market value		5,384,362		-		5,372,962		11,400
Fixed maturities, fair value		-		-		-		-
Equity securities, market value		-		-		-		-
Equity securities, fair value		1,199,347		1,109,801		89,546		-
Other invested assets, fair value		1,684,860		1,684,860		-		-

Fair Value Measurement Using:
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
(Dollars in thousands)	December 31, 2014		(Level 1)		(Level 2)		(Level 3)
Assets:
Fixed maturities, market value
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	136,836	$	-	$	136,836	$	-
Obligations of U.S. States and political subdivisions		824,472		-		824,472		-
Corporate securities		1,978,935		-		1,978,935		-
Asset-backed securities		94,823		-		94,823		-
Mortgage-backed securities
Commercial		59,268		-		50,671		8,597
Agency residential		598,117		-		598,117		-
Non-agency residential		315		-		315		-
Foreign government securities		537,087		-		537,087		-
Foreign corporate securities		1,063,558		-		1,056,392		7,166
Total fixed maturities, market value		5,293,411		-		5,277,648		15,763
Fixed maturities, fair value		1,509		-		1,509		-
Equity securities, market value		16		16		-		-
Equity securities, fair value		1,299,037		1,188,613		110,424		-
Other invested assets, fair value		1,655,311		1,655,311		-		-

Activity Under Level 3, Fair Value Measurements Using Significant Unobservable Inputs By Asset Type

	Three Months Ended September 30, 2015									Nine Months Ended September 30, 2015
	Corporate			Foreign						Corporate						Foreign
(Dollars in thousands)	Securities			Corporate			Total			Securities			CMBS			Corporate			Total
Beginning balance	$	1,958		$	7,837		$	9,795		$	-		$	8,597		$	7,166		$	15,763
Total gains or (losses) (realized/unrealized)
Included in earnings		(6	)		62			56			(2	)		-			177			175
Included in other comprehensive income (loss)		(93	)		(1,287	)		(1,380	)		(95	)		-			(1,216	)		(1,311	)
Purchases, issuances and settlements		1,723			-			1,723			3,651			-			-			3,651
Transfers in and/or (out) of Level 3		1,693			(487	)		1,206			1,721			(8,597	)		(2	)		(6,878	)
Ending balance	$	5,275		$	6,125		$	11,400		$	5,275		$	-		$	6,125		$	11,400
The amount of total gains or losses for the period
included in earnings (or changes in net assets)
attributable to the change in unrealized gains
or losses relating to assets still held at the
reporting date	$	-		$	-		$	-		$	-		$	-		$	-		$	-
(Some amounts may not reconcile due to rounding.)

	Three Months Ended September 30, 2014														Nine Months Ended September 30, 2014
	Corporate		Asset-backed			Foreign			Non-agency						Corporate		Asset-backed			Foreign			Non-agency
(Dollars in thousands)	Securities		Securities			Corporate			RMBS			Total			Securities		Securities			Corporate			RMBS			Total
Beginning balance	$	-	$	2,528		$	-		$	4		$	2,532		$	-	$	3,533		$	481		$	4		$	4,018
Total gains or (losses) (realized/unrealized)
Included in earnings		-		1,235			-			2			1,237			-		1,291			18			3			1,312
Included in other comprehensive income (loss)		42		(284	)		(50	)		(3	)		(295	)		42		(191	)		(70	)		(3	)		(222	)
Purchases, issuances and settlements		1,274		17,898			3,614			(3	)		22,783			1,274		16,744			3,135			(4	)		21,149
Transfers in and/or (out) of Level 3		-		(1,101	)		-			-			(1,101	)		-		(1,101	)		-			-			(1,101	)
Ending balance	$	1,316	$	20,276		$	3,564		$	-		$	25,156		$	1,316	$	20,276		$	3,564		$	-		$	25,156
The amount of total gains or losses for the period
included in earnings (or changes in net assets)
attributable to the change in unrealized gains
or losses relating to assets still held at the
reporting date	$	-	$	-		$	-		$	-		$	-		$	-	$	-		$	-		$	-		$	-
(Some amounts may not reconcile due to rounding.)

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Credit Facility-Expired (Narrative) (Details) - Total Citibank Holdings Credit Facility [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2015 USD ($)
Line of Credit Facility [Line Items]
Line of credit facility, term of credit facility	3 years
Line of credit facility, commitment	$ 150,000

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Investments (Summary Of Gross Gains (Losses) From Sales Of Fixed Maturity And Equity Securities) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Proceeds from sales of securities	$ 130,284	$ 222,915	$ 420,108	$ 571,537
Gross gains from sales	1,401	4,408	9,039	10,698
Gross losses from sales	(8,054)	(3,256)	(39,376)	(11,531)
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Proceeds from sales of securities	138,799	111,684	442,292	404,627
Gross gains from sales	5,241	1,697	17,655	12,019
Gross losses from sales	$ (18,896)	$ (4,286)	$ (31,664)	$ (14,223)

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Investments (Summary Of Changes In Net Unrealized Appreciation (Depreciation) For The Company's Investments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Change in unrealized appreciation (depreciation), pre-tax	$ (28,081)	$ (41,409)	$ (1,408)	$ 23,288
Deferred tax benefit (expense)	9,835	14,492	3,907	(8,151)
Deferred tax benefit (expense), other-than-temporary impairment	(7)		(3,414)
Total URA(D) on securities arising during the period	(18,253)	(26,917)	(915)	15,137
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Change in unrealized appreciation (depreciation), pre-tax	(28,103)	(41,410)	(11,164)	23,285
Fixed Maturity Securities, Other-Than-Temporary Impairment [Member]
Schedule of Available-for-sale Securities [Line Items]
Change in unrealized appreciation (depreciation), pre-tax	$ 22		9,757
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Change in unrealized appreciation (depreciation), pre-tax		$ 1	$ (1)	$ 3

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Senior Notes (Narrative) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Parent Company [Member]
Debt Instrument [Line Items]
Debt instrument, stated interest rate	1.72%
Maturity date	Dec. 31, 2023
Senior Notes [Member] | Senior Notes 4.868% [Member]
Debt Instrument [Line Items]
Date issued	Jun. 05, 2014
Principal amounts	$ 400,000,000
Debt maturity term	30 years
Debt instrument, stated interest rate	4.868%	4.868%
Maturity date	Jun. 01, 2044	Jun. 01, 2044
Senior Notes [Member] | Senior Notes 5.4% [Member]
Debt Instrument [Line Items]
Date issued	Oct. 12, 2004
Principal amounts	$ 250,000,000
Debt instrument, stated interest rate	5.40%
Maturity date	Oct. 15, 2014

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Related-Party Transactions (Affiliated Quota Share Reinsurance Agreements For All New And Renewal Business For The Indicated Coverage Period) (Details) - 9 months ended Sep. 30, 2015 CAD in Thousands, $ in Thousands		CAD	USD ($)
Everest Re [Member]
Related Party Transaction [Line Items]
Assuming Company		Bermuda Re	Bermuda Re
Everest Re [Member] | Bermuda Re [Member] | 01/01/2002-12/31/2002 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		20.00%	20.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property / casualty business	property / casualty business
Everest Re [Member] | Bermuda Re [Member] | 01/01/2003-12/31/2003 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		25.00%	25.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property / casualty business	property / casualty business
Everest Re [Member] | Bermuda Re [Member] | 01/01/2004-12/31/2005 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		22.50%	22.50%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property / casualty business	property / casualty business
Everest Re [Member] | Bermuda Re [Member] | 01/01/2006-12/31/2006 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		18.00%	18.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property business	property business
Single Occurrence Limit	[1]		$ 125,000
Everest Re [Member] | Bermuda Re [Member] | 01/01/2006-12/31/2007 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		31.50%	31.50%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		casualty business	casualty business
Everest Re [Member] | Bermuda Re [Member] | 01/01/2007-12/31/2007 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		22.50%	22.50%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property business	property business
Single Occurrence Limit	[1]		$ 130,000
Everest Re [Member] | Bermuda Re [Member] | 01/01/2008-12/31/2008 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		36.00%	36.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property / casualty business	property / casualty business
Single Occurrence Limit	[1]		$ 130,000
Aggregate Limit	[2]		$ 275,000
Everest Re [Member] | Bermuda Re [Member] | 01/01/2009-12/31/2009 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		36.00%	36.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property / casualty business	property / casualty business
Single Occurrence Limit	[1]		$ 150,000
Aggregate Limit	[2]		$ 325,000
Everest Re [Member] | Bermuda Re [Member] | 01/01/2010-12/31/2010 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		44.00%	44.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property / casualty business	property / casualty business
Single Occurrence Limit			$ 150,000
Aggregate Limit			$ 325,000
Everest Re [Member] | Bermuda Re [Member] | 01/01/2011 -12/31/2011 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		50.00%	50.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property / casualty business	property / casualty business
Single Occurrence Limit			$ 150,000
Aggregate Limit			$ 300,000
Everest Re [Member] | Bermuda Re [Member] | 01/01/2012 -12/31/2014 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		50.00%	50.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property / casualty business	property / casualty business
Single Occurrence Limit			$ 100,000
Aggregate Limit			$ 200,000
Everest Re [Member] | Bermuda Re [Member] | 01/01/2015 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		50.00%	50.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property / casualty business	property / casualty business
Single Occurrence Limit			$ 162,500
Aggregate Limit			$ 325,000
Everest Re [Member] | Everest International [Member] | 01/01/2004-12/31/2005 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		2.50%	2.50%
Assuming Company		Everest International	Everest International
Type of Business		property / casualty business	property / casualty business
Everest Re [Member] | Everest International [Member] | 01/01/2006-12/31/2006 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		2.00%	2.00%
Assuming Company		Everest International	Everest International
Type of Business		property business	property business
Everest Re [Member] | Everest International [Member] | 01/01/2006-12/31/2007 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		3.50%	3.50%
Assuming Company		Everest International	Everest International
Type of Business		casualty business	casualty business
Everest Re [Member] | Everest International [Member] | 01/01/2007-12/31/2007 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		2.50%	2.50%
Assuming Company		Everest International	Everest International
Type of Business		property business	property business
Everest Re [Member] | Everest International [Member] | 01/01/2008-12/31/2008 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		4.00%	4.00%
Assuming Company		Everest International	Everest International
Type of Business		property / casualty business	property / casualty business
Everest Re [Member] | Everest International [Member] | 01/01/2009-12/31/2009 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re	Everest Re
Percent Ceded		8.00%	8.00%
Assuming Company		Everest International	Everest International
Type of Business		property / casualty business	property / casualty business
Everest Re- Canadian Branch [Member] | Bermuda Re [Member] | 01/01/2010-12/31/2010 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re- Canadian Branch	Everest Re- Canadian Branch
Percent Ceded		60.00%	60.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property business	property business
Single Occurrence Limit | CAD	[3]	CAD 350,000
Everest Re- Canadian Branch [Member] | Bermuda Re [Member] | 01/01/2011 -12/31/2011 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re- Canadian Branch	Everest Re- Canadian Branch
Percent Ceded		60.00%	60.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property business	property business
Single Occurrence Limit | CAD	[3]	CAD 350,000
Everest Re- Canadian Branch [Member] | Bermuda Re [Member] | 01/01/2003-12/31/2006 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re- Canadian Branch	Everest Re- Canadian Branch
Percent Ceded		50.00%	50.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property business	property business
Everest Re- Canadian Branch [Member] | Bermuda Re [Member] | 01/01/2007-12/31/2009 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re- Canadian Branch	Everest Re- Canadian Branch
Percent Ceded		60.00%	60.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property business	property business
Everest Re- Canadian Branch [Member] | Bermuda Re [Member] | 01/01/2012 -12/31/2012 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re- Canadian Branch	Everest Re- Canadian Branch
Percent Ceded		75.00%	75.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property / casualty business	property / casualty business
Single Occurrence Limit | CAD	[3]	CAD 206,250
Aggregate Limit | CAD	[3]	CAD 412,500
Everest Re- Canadian Branch [Member] | Bermuda Re [Member] | 01/01/2013 -12/31/2013 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re- Canadian Branch	Everest Re- Canadian Branch
Percent Ceded		75.00%	75.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property / casualty business	property / casualty business
Single Occurrence Limit | CAD	[3]	CAD 150,000
Aggregate Limit | CAD	[3]	CAD 412,500
Everest Re- Canadian Branch [Member] | Bermuda Re [Member] | 01/01/2014 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Re- Canadian Branch	Everest Re- Canadian Branch
Percent Ceded		75.00%	75.00%
Assuming Company		Bermuda Re	Bermuda Re
Type of Business		property / casualty business	property / casualty business
Single Occurrence Limit | CAD	[3]	CAD 262,500
Aggregate Limit | CAD	[3]	CAD 412,500
Everest Canada [Member] | Everest Re- Canadian Branch [Member] | 01/01/2012 [Member]
Related Party Transaction [Line Items]
Ceding Company		Everest Canada	Everest Canada
Percent Ceded		80.00%	80.00%
Assuming Company		Everest Re- Canadian Branch	Everest Re- Canadian Branch
Type of Business		property business	property business

[1] The single occurance limit is applied before the loss cessions to either Bermuda Re or Everest International.

[2] The aggregate limit is applied before the loss cessions to either Bermuda Re or Everest International.

[3] Amounts shown are Canadian dollars.

XML

Segment Reporting (Schedule Of Gross Written Premium Derived From Largest Non-U.S. Market) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Canada [Member]
Segment Reporting Information [Line Items]
Gross written premiums	$ 31,903	$ 41,644	$ 85,575	$ 116,133

XML

Other Comprehensive Income (Loss) (Components Of Comprehensive Income (Loss) In The Consolidated Statements Of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other Comprehensive Income (Loss) [Abstract]
Unrealized appreciation (depreciation) ("URA(D)") of securities - temporary, Before Tax	$ (45,240)	$ (40,339)	$ (84,958)	$ 21,234
URA(D) on securities - OTTI, Before Tax	22		9,757
Reclassification of net realized losses (gains) included in net income (loss), Before Tax	17,137	(1,070)	73,793	2,054
Foreign currency translation adjustments, Before Tax	(42,266)	(11,496)	(68,670)	(13,211)
Reclassification of amortization of net gain (loss) included in net income (loss), Before Tax	2,393	1,269	7,336	3,640
Total other comprehensive income (loss), Before Tax	(67,954)	(51,636)	(62,742)	13,717
Unrealized appreciation (depreciation) ("URA(D)") of securities - temporary, Tax Effect	15,347	14,118	28,749	(7,556)
URA(D) on securities - OTTI, Tax Effect	(7)		(3,414)
Reclassification of net realized losses (gains) included in net income (loss), Tax Effect	(5,512)	374	(24,842)	(595)
Foreign currency translation adjustments, Tax Effect	14,793	4,024	24,034	4,624
Reclassification of amortization of net gain (loss) included in net income (loss), Tax Effect	(837)	(444)	(2,567)	(1,274)
Total other comprehensive income (loss), Tax Effect	23,784	18,072	21,960	(4,801)
Unrealized appreciation (depreciation) ("URA(D)") of securities - temporary, Net of Tax	(29,893)	(26,221)	(56,209)	13,678
URA(D) of securities - OTTI, Net of Tax	15		6,343
Reclassification of net realized losses (gains) included in net income (loss), Net of Tax	11,625	(696)	48,951	1,459
Foreign currency translation adjustments, Net of Tax	$ (27,473)	$ (7,472)	$ (44,636)	$ (8,587)
Benefit plan actuarial net gain (loss), Net of Tax
Reclassification of amortization of net gain (loss) included in net income (loss), Net of Tax	$ 1,556	$ 825	$ 4,769	$ 2,366
Total other comprehensive income (loss), Net of tax	$ (44,170)	$ (33,564)	$ (40,782)	$ 8,916

XML

Investments

9 Months Ended

Sep. 30, 2015

Investments [Abstract]

Investments

3.INVESTMENTS

The amortized cost, market value and gross unrealized appreciation and depreciation of available for sale, fixed maturity, equity security investments, carried at market value and other-than-temporary impairments ("OTTI") in accumulated other comprehensive income ("AOCI") are as follows for the periods indicated:

	At September 30, 2015
	Amortized		Unrealized		Unrealized			Market		OTTI in AOCI
(Dollars in thousands)	Cost		Appreciation		Depreciation			Value		(a)
Fixed maturity securities
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	222,879	$	4,634	$	(69	)	$	227,444	$	-
Obligations of U.S. states and political subdivisions		683,715		32,088		(1,524	)		714,279		-
Corporate securities		2,012,649		35,136		(48,623	)		1,999,162		6
Asset-backed securities		132,004		689		(232	)		132,461		-
Mortgage-backed securities
Commercial		62,616		1,960		(55	)		64,521		-
Agency residential		720,508		7,833		(2,306	)		726,035		-
Non-agency residential		141		27		-			168		-
Foreign government securities		448,501		25,864		(9,658	)		464,707		-
Foreign corporate securities		1,044,867		33,424		(22,706	)		1,055,585		16
Total fixed maturity securities	$	5,327,880	$	141,655	$	(85,173	)	$	5,384,362	$	22
Equity securities	$	-	$	-	$	-		$	-	$	-

	At December 31, 2014
	Amortized		Unrealized		Unrealized			Market		OTTI in AOCI
(Dollars in thousands)	Cost		Appreciation		Depreciation			Value		(a)
Fixed maturity securities
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	135,724	$	1,416	$	(304	)	$	136,836	$	-
Obligations of U.S. states and political subdivisions		783,129		41,969		(626	)		824,472		-
Corporate securities		1,992,200		39,954		(53,219	)		1,978,935		(9,735	)
Asset-backed securities		94,470		727		(374	)		94,823		-
Mortgage-backed securities
Commercial		57,027		2,292		(51	)		59,268		-
Agency residential		596,140		6,697		(4,720	)		598,117		-
Non-agency residential		271		44		-			315		-
Foreign government securities		515,016		27,415		(5,344	)		537,087		-
Foreign corporate securities		1,061,546		27,832		(25,820	)		1,063,558		-
Total fixed maturity securities	$	5,235,523	$	148,346	$	(90,458	)	$	5,293,411	$	(9,735	)
Equity securities	$	15	$	1	$	-		$	16	$	-

^(a)  Represents the amount of OTTI recognized in AOCI.  Amount includes unrealized gains and losses on impaired securities relating to changes in the value of such securities subsequent to the impairment measurement date.

The amortized cost and market value of fixed maturity securities are shown in the following tables by contractual maturity. Mortgage-backed securities are generally more likely to be prepaid than other fixed maturity securities. As the stated maturity of such securities may not be indicative of actual maturities, the totals for mortgage-backed and asset-backed securities are shown separately.

	At September 30, 2015				At December 31, 2014
	Amortized		Market		Amortized		Market
(Dollars in thousands)	Cost		Value		Cost		Value
Fixed maturity securities – available for sale
Due in one year or less	$	345,345	$	345,322	$	385,721	$	384,022
Due after one year through five years		2,495,023		2,506,790		2,387,533		2,369,917
Due after five years through ten years		970,585		971,624		1,025,221		1,029,077
Due after ten years		601,658		637,441		689,140		757,872
Asset-backed securities		132,004		132,461		94,470		94,823
Mortgage-backed securities
Commercial		62,616		64,521		57,027		59,268
Agency residential		720,508		726,035		596,140		598,117
Non-agency residential		141		168		271		315
Total fixed maturity securities	$	5,327,880	$	5,384,362	$	5,235,523	$	5,293,411

The changes in net unrealized appreciation (depreciation) for the Company's investments are derived from the following sources for the periods as indicated:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Increase (decrease) during the period between the market value and cost
of investments carried at market value, and deferred taxes thereon:
Fixed maturity securities	$	(28,103	)	$	(41,410	)	$	(11,164	)	$	23,285
Fixed maturity securities, other-than-temporary impairment		22			-			9,757			-
Equity securities		-			1			(1	)		3
Change in unrealized  appreciation (depreciation), pre-tax		(28,081	)		(41,409	)		(1,408	)		23,288
Deferred tax benefit (expense)		9,835			14,492			3,907			(8,151	)
Deferred tax benefit (expense), other-than-temporary impairment		(7	)		-			(3,414	)		-
Change in unrealized appreciation (depreciation),
net of deferred taxes, included in stockholder's equity	$	(18,253	)	$	(26,917	)	$	(915	)	$	15,137

The Company frequently reviews all of its fixed maturity, available for sale securities for declines in market value and focuses its attention on securities whose fair value has fallen below 80% of their amortized cost at the time of review.  The Company then assesses whether the decline in value is temporary or other-than-temporary.  In making its assessment, the Company evaluates the current market and interest rate environment as well as specific issuer information.  Generally, a change in a security's value caused by a change in the market, interest rate or foreign exchange environment does not constitute an other-than-temporary impairment, but rather a temporary decline in market value.  Temporary declines in market value are recorded as unrealized losses in accumulated other comprehensive income (loss).  If the Company determines that the decline is other-than-temporary and the Company does not have the intent to sell the security; and it is more likely than not that the Company will not have to sell the security before recovery of its cost basis, the carrying value of the investment is written down to fair value.  The fair value adjustment that is credit or foreign exchange related is recorded in net realized capital gains (losses) in the Company's consolidated statements of operations and comprehensive income (loss). The fair value adjustment that is non-credit related is recorded as a component of other comprehensive income (loss), net of tax, and is included in accumulated other comprehensive income (loss) in the Company's consolidated balance sheets.  The Company's assessments are based on the issuers current and expected future financial position, timeliness with respect to interest and/or principal payments, speed of repayments and any applicable credit enhancements or breakeven constant default rates on mortgage-backed and asset-backed securities, as well as relevant information provided by rating agencies, investment advisors and analysts.

The majority of the Company's equity securities available for sale at market value are primarily comprised of mutual fund investments whose underlying securities consist of fixed maturity securities.  When a fund's value reflects an unrealized loss, the Company assesses whether the decline in value is temporary or other-than-temporary.  In making its assessment, the Company considers the composition of its portfolios and their related markets, reports received from the portfolio managers and discussions with portfolio managers.  If the Company determines that the declines are temporary and it has the ability and intent to continue to hold the investments, then the declines are recorded as unrealized losses in accumulated other comprehensive income (loss).  If declines are deemed to be other-than-temporary, then the carrying value of the investment is written down to fair value and recorded in net realized capital gains (losses) in the Company's consolidated statements of operations and comprehensive income (loss).

Retrospective adjustments are employed to recalculate the values of asset-backed securities. All of the Company's asset-backed and mortgage-backed securities have a pass-through structure. Each acquisition lot is reviewed to recalculate the effective yield. The recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition. Outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities. Conditional prepayment rates, computed with life to date factor histories and weighted average maturities, are used in the calculation of projected prepayments for pass-through security types.

The tables below display the aggregate market value and gross unrealized depreciation of fixed maturity and equity securities, by security type and contractual maturity, in each case subdivided according to length of time that individual securities had been in a continuous unrealized loss position for the periods indicated:

	Duration of Unrealized Loss at September 30, 2015 By Security Type
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities - available for sale
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	201	$	(1	)	$	1,844	$	(68	)	$	2,045	$	(69	)
Obligations of U.S. states and political subdivisions		20,162		(316	)		35,460		(1,208	)		55,622		(1,524	)
Corporate securities		647,568		(34,098	)		291,894		(14,525	)		939,462		(48,623	)
Asset-backed securities		49,224		(203	)		8,601		(29	)		57,825		(232	)
Mortgage-backed securities
Commercial		6,003		(55	)		-		-			6,003		(55	)
Agency residential		97,964		(762	)		157,863		(1,544	)		255,827		(2,306	)
Non-agency residential		-		-			-		-			-		-
Foreign government securities		115,876		(3,827	)		66,812		(5,831	)		182,688		(9,658	)
Foreign corporate securities		286,978		(18,810	)		72,392		(3,896	)		359,370		(22,706	)
Total fixed maturity securities	$	1,223,976	$	(58,072	)	$	634,866	$	(27,101	)	$	1,858,842	$	(85,173	)
Equity securities		-		-			-		-			-		-
Total	$	1,223,976	$	(58,072	)	$	634,866	$	(27,101	)	$	1,858,842	$	(85,173	)

	Duration of Unrealized Loss at September 30, 2015 By Maturity
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities
Due in one year or less	$	36,780	$	(1,633	)	$	17,019	$	(1,710	)	$	53,799	$	(3,343	)
Due in one year through five years		594,454		(29,341	)		304,349		(15,213	)		898,803		(44,554	)
Due in five years through ten years		382,520		(23,273	)		109,012		(7,616	)		491,532		(30,889	)
Due after ten years		57,031		(2,805	)		38,022		(989	)		95,053		(3,794	)
Asset-backed securities		49,224		(203	)		8,601		(29	)		57,825		(232	)
Mortgage-backed securities		103,967		(817	)		157,863		(1,544	)		261,830		(2,361	)
Total fixed maturity securities	$	1,223,976	$	(58,072	)	$	634,866	$	(27,101	)	$	1,858,842	$	(85,173	)

The aggregate market value and gross unrealized losses related to investments in an unrealized loss position at September 30, 2015 were $1,858,842 thousand and $85,173 thousand, respectively.  The market value of securities for the single issuer whose securities comprised the largest unrealized loss position at September 30, 2015, did not exceed 0.3% of the overall market value of the Company's fixed maturity securities.  In addition, as indicated on the above table, there was no significant concentration of unrealized losses in any one market sector.  The $58,072 thousand of unrealized losses related to fixed maturity securities that have been in an unrealized loss position for less than one year were primarily comprised of domestic and foreign corporate securities and foreign government securities.  The majority of these unrealized losses are attributable to unrealized losses in the energy sector, $36,358 thousand, as falling oil prices disrupted the market values for this sector, particularly for oil exploration, production and servicing companies and unrealized foreign exchange losses, $11,313 thousand, as the U.S. dollar has strengthened against other currencies. The $27,101 thousand of unrealized losses related to fixed maturity securities in an unrealized loss position for more than one year related primarily to domestic and foreign corporate securities, foreign government securities and agency residential mortgage-backed securities. The majority of these unrealized losses are attributable to unrealized foreign exchange losses, $13,322 thousand, as the U.S. dollar has strengthened against other currencies and unrealized losses in the energy sector, $5,056 thousand, as falling oil prices disrupted the market values for this sector, particularly for oil exploration, production and servicing companies. The Company did not have any sub-prime or alt-A loans with gross unrealized depreciation at September 30, 2015.  In all instances, there were no projected cash flow shortfalls to recover the full book value of the investments and the related interest obligations.  The mortgage-backed securities still have excess credit coverage and are current on interest and principal payments.

The Company, given the size of its investment portfolio and capital position, does not have the intent to sell these securities; and it is more likely than not that the Company will not have to sell the security before recovery of its cost basis.  In addition, all securities currently in an unrealized loss position are current with respect to principal and interest payments.

The tables below display the aggregate market value and gross unrealized depreciation of fixed maturity and equity securities, by security type and contractual maturity, in each case subdivided according to length of time that individual securities had been in a continuous unrealized loss position for the periods indicated:

	Duration of Unrealized Loss at December 31, 2014 By Security Type
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities - available for sale
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	13,187	$	(20	)	$	26,897	$	(284	)	$	40,084	$	(304	)
Obligations of U.S. states and political subdivisions		20,428		(242	)		18,199		(384	)		38,627		(626	)
Corporate securities		830,928		(48,891	)		171,207		(4,328	)		1,002,135		(53,219	)
Asset-backed securities		62,451		(374	)		-		-			62,451		(374	)
Mortgage-backed securities
Commercial		11,742		(51	)		-		-			11,742		(51	)
Agency residential		24,230		(59	)		267,824		(4,661	)		292,054		(4,720	)
Non-agency residential		-		-			-		-			-		-
Foreign government securities		45,521		(913	)		53,086		(4,431	)		98,607		(5,344	)
Foreign corporate securities		228,733		(21,704	)		117,713		(4,116	)		346,446		(25,820	)
Total fixed maturity securities	$	1,237,220	$	(72,254	)	$	654,926	$	(18,204	)	$	1,892,146	$	(90,458	)
Equity securities		-		-			-		-			-		-
Total	$	1,237,220	$	(72,254	)	$	654,926	$	(18,204	)	$	1,892,146	$	(90,458	)

	Duration of Unrealized Loss at December 31, 2014 By Maturity
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities
Due in one year or less	$	12,858	$	(550	)	$	53,528	$	(4,224	)	$	66,386	$	(4,774	)
Due in one year through five years		622,137		(51,262	)		243,192		(6,306	)		865,329		(57,568	)
Due in five years through ten years		467,187		(18,958	)		66,630		(2,018	)		533,817		(20,976	)
Due after ten years		36,615		(1,000	)		23,752		(995	)		60,367		(1,995	)
Asset-backed securities		62,451		(374	)		-		-			62,451		(374	)
Mortgage-backed securities		35,972		(110	)		267,824		(4,661	)		303,796		(4,771	)
Total fixed maturity securities	$	1,237,220	$	(72,254	)	$	654,926	$	(18,204	)	$	1,892,146	$	(90,458	)

The aggregate market value and gross unrealized losses related to investments in an unrealized loss position at December 31, 2014 were $1,892,146 thousand and $90,458 thousand, respectively.  The market value of securities for the single issuer whose securities comprised the largest unrealized loss position at December 31, 2014, did not exceed 0.3% of the overall market value of the Company's fixed maturity securities.  In addition, as indicated on the above table, there was no significant concentration of unrealized losses in any one market sector.  The $72,254 thousand of unrealized losses related to fixed maturity securities that have been in an unrealized loss position for less than one year were primarily comprised of domestic and foreign corporate securities.  The majority of these unrealized losses are attributable to unrealized losses in the energy sector, $53,772 thousand, as falling oil prices disrupted the market values for this sector, particularly for oil exploration, production and servicing companies during the fourth quarter of 2014 and unrealized foreign exchange losses, $7,298 thousand, as the U.S. dollar has strengthened against other currencies. The $18,204 thousand of unrealized losses related to fixed maturity securities in an unrealized loss position for more than one year related primarily to agency residential mortgage-backed securities, foreign and domestic corporate securities and foreign government securities.  Of these unrealized losses, $16,680 thousand were related to securities that were rated investment grade by at least one nationally recognized statistical rating organization.  The Company did not have any sub-prime or alt-A loans with gross unrealized depreciation at December 31, 2014.  In all instances, there were no projected cash flow shortfalls to recover the full book value of the investments and the related interest obligations.  The mortgage-backed securities still have excess credit coverage and are current on interest and principal payments.

Other invested assets, at fair value, are comprised of common shares of the Company's ultimate parent, Group.  At September 30, 2015, the Company held 9,719,971 shares of Group representing 18% of the total outstanding shares.

The components of net investment income are presented in the tables below for the periods indicated:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Fixed maturities	$	46,414		$	52,515		$	140,829		$	157,515
Equity securities		8,004			7,966			26,638			26,083
Short-term investments and cash		220			196			705			841
Other invested assets
Limited partnerships		3,021			19,254			17,676			18,862
Dividends from Parent's shares		9,234			7,290			27,702			21,870
Other		(242	)		869			1,366			3,220
Gross investment income before adjustments		66,651			88,090			214,916			228,391
Funds held interest income (expense)		940			970			4,326			4,262
Interest income from Parent		1,075			-			3,225			-
Gross investment income		68,666			89,060			222,467			232,653
Investment expenses		(5,303	)		(5,614	)		(15,598	)		(16,784	)
Net investment income	$	63,363		$	83,446		$	206,869		$	215,869

The Company records results from limited partnership investments on the equity method of accounting with changes in value reported through net investment income. Due to the timing of receiving financial information from these partnerships, the results are generally reported on a one month or quarter lag.  If the Company determines there has been a significant decline in value of a limited partnership during this lag period, a loss will be recorded in the period in which the Company identifies the decline.

The Company had contractual commitments to invest up to an additional $245,663 thousand in limited partnerships at September 30, 2015.  These commitments will be funded when called in accordance with the partnership agreements, which have investment periods that expire, unless extended, through 2019.

The components of net realized capital gains (losses) are presented in the tables below for the periods indicated:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Fixed maturity securities, market value:
Other-than-temporary impairments	$	(10,502	)	$	-		$	(43,433	)	$	(199	)
Gains (losses) from sales		(6,636	)		1,070			(30,362	)		(1,855	)
Fixed maturity securities, fair value:
Gains (losses) from sales		(17	)		82			25			1,022
Gains (losses) from fair value adjustments		-			(938	)		56			(938	)
Equity securities, market value:
Gains (losses) from sales		-			-			1			-
Equity securities, fair value:
Gains (losses) from sales		(13,656	)		(2,589	)		(14,010	)		(2,204	)
Gains (losses) from fair value adjustments		(101,322	)		(12,559	)		(85,710	)		65,399
Other invested assets, fair value:
Gains (losses) from fair value adjustments		(84,272	)		14,775			29,549			59,681
Gain on sale of subsidiary		94,704			-			94,704			-
Short-term investment gains (losses)		6			(1	)		6			(2	)
Total net realized capital gains (losses)	$	(121,695	)	$	(160	)	$	(49,174	)	$	120,904

The Company recorded as net realized capital gains (losses) in the consolidated statements of operations and comprehensive income (loss) both fair value re-measurements and write-downs in the value of securities deemed to be impaired on an other-than-temporary basis as displayed in the table above.  The Company had no other-than-temporary impaired securities where the impairment had both a credit and non-credit component.

On July 13, 2015, the Company sold Mt. McKinley, a Delaware domiciled insurance company and wholly-owned subsidiary of the Company to Clearwater Insurance Company, a Delaware domiciled insurance company.  The purchase price of $20,156 thousand was based upon the statutory book value of Mt. McKinley as of the closing date. The Company recognized a pre-tax realized gain of $94,704 thousand on the sale of Mt. McKinley.

The proceeds and split between gross gains and losses, from sales of fixed maturity and equity securities, are presented in the tables below for the periods indicated:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Proceeds from sales of fixed maturity securities	$	130,284		$	222,915		$	420,108		$	571,537
Gross gains from sales		1,401			4,408			9,039			10,698
Gross losses from sales		(8,054	)		(3,256	)		(39,376	)		(11,531	)
Proceeds from sales of equity securities	$	138,799		$	111,684		$	442,292		$	404,627
Gross gains from sales		5,241			1,697			17,655			12,019
Gross losses from sales		(18,896	)		(4,286	)		(31,664	)		(14,223	)

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Related-Party Transactions (Narrative) (Details) $ in Thousands, £ in Millions	9 Months Ended
	Sep. 30, 2015 GBP (£) shares	Sep. 30, 2015 USD ($)	Dec. 31, 2014 USD ($)
Related Party Transaction [Line Items]
Note receivable - affiliated		$ 250,000	$ 250,000
Stock repurchase program, number of shares held | shares	9,719,971
Reserve indemnity agreement, percent	90.00%
Reserve indemnity agreement, amount | £	£ 25
Parent Company [Member]
Related Party Transaction [Line Items]
Note receivable - affiliated			$ 250,000
Debt instrument, stated interest rate		1.72%
Maturity date	Dec. 31, 2023

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Fair Value (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2015 USD ($) security	Sep. 30, 2014 USD ($)	Dec. 31, 2014 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of public equity portfolio	$ 114,519		$ 114,519		$ 96,890
Transfers between Level 1 and Level 2	0		0
Transfers from level 3	(1,206)	$ 1,101	6,878	$ 1,101
Available For Sale Securities Debt Securities Market Value	5,384,362		$ 5,384,362		$ 5,293,411
Private Placement [Member] | Unavailability Of Prices [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of securities | security			1
Available For Sale Securities Debt Securities Market Value	$ 6,125		$ 6,125

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Long Term Subordinated Notes (Tables)

9 Months Ended

Sep. 30, 2015

Long Term Subordinated Notes [Abstract]

Schedule Of Outstanding Fixed To Floating Rate Long Term Subordinated Notes

Maturity Date

September 30, 2015

December 31, 2014

Original

Consolidated Balance

Consolidated Balance

(Dollars in thousands)

Date Issued

Principal Amount

Scheduled

Final

Sheet Amount

Market Value

Sheet Amount

Market Value

6.6% Long term subordinated notes

04/26/2007

$

400,000

05/15/2037

05/01/2067

$

238,367

$

218,281

$

238,364

$

246,312

Schedule Of Interest Expense Incurred In Connection With Long Term Subordinated Notes

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Interest expense incurred	$	3,937	$	3,937	$	11,811	$	11,811

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Senior Notes (Tables)

9 Months Ended

Sep. 30, 2015

Senior Notes [Abstract]

Schedule Of Outstanding Senior Notes

					September 30, 2015				December 31, 2014
					Consolidated Balance				Consolidated Balance
(Dollars in thousands)	Date Issued	Date Due	Principal Amounts		Sheet Amount		Market Value		Sheet Amount		Market Value
4.868% Senior notes	06/05/2014	06/01/2044	$	400,000	$	400,000	$	388,768	$	400,000	$	404,892
5.40% Senior notes	10/12/2004	10/15/2014		250,000		-		-		-		-

Schedule Of Interest Expense Incurred In Connection With Senior Notes

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Interest expense incurred	$	4,868	$	8,256	$	14,604	$	16,385

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Long Term Subordinated Notes (Schedule Of Outstanding Fixed To Floating Rate Long Term Subordinated Notes) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Long Term Subordinated Debt [Member]
Debt Instrument [Line Items]
Debt instrument, stated interest rate	6.60%	6.60%
Date issued	Apr. 26, 2007
Original Principal Amount	$ 400,000,000	$ 400,000,000
Maturity date	May 01, 2067	May 01, 2067
Consolidated balance sheet amount	$ 238,367,000	$ 238,364,000
Market value	$ 218,281,000	$ 246,312,000
Long Term Subordinated Debt [Member] | Scheduled [Member]
Debt Instrument [Line Items]
Maturity date	May 15, 2037
Long Term Subordinated Debt [Member] | Final [Member]
Debt Instrument [Line Items]
Maturity date	May 01, 2067
Parent Company [Member]
Debt Instrument [Line Items]
Debt instrument, stated interest rate	1.72%
Maturity date	Dec. 31, 2023

XML

Fair Value (Fair Value Measurement Levels For All Assets, Recorded At Fair And Market Value)(Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	$ 5,384,362	$ 5,293,411
Fixed maturities - available for sale, at fair value		1,509
Equity securities - available for sale, at market value		16
Equity securities - available for sale, at fair value	1,199,347	1,299,037
Other invested assets, at fair value	1,684,860	1,655,311
Quoted Prices in Active Markets For Identical Assets Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities - available for sale, at market value		16
Equity securities - available for sale, at fair value	1,109,801	1,188,613
Other invested assets, at fair value	1,684,860	1,655,311
Significant Other Observable Inputs Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	5,372,962	5,277,648
Fixed maturities - available for sale, at fair value		1,509
Equity securities - available for sale, at fair value	89,546	110,424
Significant Unobservable Inputs Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	11,400	15,763
U.S. Treasury Securities And Obligations Of U.S. Government Agencies And Corporations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	227,444	136,836
U.S. Treasury Securities And Obligations Of U.S. Government Agencies And Corporations [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	227,444	136,836
Obligations of US States and Political Subdivisions [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	714,279	824,472
Obligations of US States and Political Subdivisions [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	714,279	824,472
Corporate Debt Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	1,999,162	1,978,935
Corporate Debt Securities [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	1,993,887	1,978,935
Corporate Debt Securities [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	5,275
Asset-backed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	132,461	94,823
Asset-backed Securities [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	132,461	94,823
Commercial Mortgage-Backed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	64,521	59,268
Commercial Mortgage-Backed Securities [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	64,521	50,671
Commercial Mortgage-Backed Securities [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value		8,597
Agency Residential [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	726,035	598,117
Agency Residential [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	726,035	598,117
Non-agency Residential [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	168	315
Non-agency Residential [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	168	315
Foreign Government Debt Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	464,707	537,087
Foreign Government Debt Securities [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	464,707	537,087
Foreign Corporate Debt Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	1,055,585	1,063,558
Foreign Corporate Debt Securities [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	1,049,460	1,056,392
Foreign Corporate Debt Securities [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	$ 6,125	$ 7,166

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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Schedule Of Underwriting Results For Operating Segments

	Three Months Ended				Nine Months Ended
U.S. Reinsurance	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Gross written premiums	$	601,570	$	679,904	$	1,615,276	$	1,663,320
Net written premiums		247,352		304,442		672,753		771,054
Premiums earned	$	235,275	$	275,521	$	726,113	$	739,977
Incurred losses and LAE		109,137		125,475		337,065		371,135
Commission and brokerage		48,881		51,231		141,948		144,747
Other underwriting expenses		13,718		12,119		37,054		33,054
Underwriting gain (loss)	$	63,539	$	86,696	$	210,046	$	191,041

	Three Months Ended						Nine Months Ended
International	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Gross written premiums	$	374,138		$	419,457		$	1,019,406		$	1,214,343
Net written premiums		147,991			157,932			417,071			446,599
Premiums earned	$	135,130		$	145,662		$	433,751		$	438,394
Incurred losses and LAE		128,454			113,703			339,926			286,166
Commission and brokerage		27,936			23,767			93,178			80,348
Other underwriting expenses		9,128			8,759			25,292			24,689
Underwriting gain (loss)	$	(30,388	)	$	(567	)	$	(24,645	)	$	47,191

	Three Months Ended						Nine Months Ended
Insurance	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015		2014
Gross written premiums	$	473,003		$	354,033		$	1,130,233	$	885,006
Net written premiums		203,730			149,542			490,140		386,694
Premiums earned	$	175,645		$	148,414		$	428,672	$	382,407
Incurred losses and LAE		133,163			141,402			325,522		322,842
Commission and brokerage		(4,666	)		4,170			6,509		15,489
Other underwriting expenses		34,107			29,745			94,723		79,289
Underwriting gain (loss)	$	13,041		$	(26,903	)	$	1,918	$	(35,213	)

Schedule Of Underwriting Results For Operating Segments To Income (Loss) Before Taxes

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Underwriting gain (loss)	$	46,192		$	59,226		$	187,319		$	203,019
Net investment income		63,363			83,446			206,869			215,869
Net realized capital gains (losses)		(121,695	)		(160	)		(49,174	)		120,904
Corporate expense		(1,637	)		(4,620	)		(5,031	)		(5,398	)
Interest, fee and bond issue cost amortization expense		(8,859	)		(12,292	)		(26,576	)		(28,539	)
Other income (expense)		10,828			(3,739	)		38,950			(15,576	)
Income (loss) before taxes	$	(11,808	)	$	121,861		$	352,357		$	490,279

Schedule Of Gross Written Premium Derived From Largest Non-U.S. Market

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Canada gross written premiums	$	31,903	$	41,644	$	85,575	$	116,133

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Related-Party Transactions (Tables)

9 Months Ended

Sep. 30, 2015

Related-Party Transactions [Abstract]

Amendments To The Share Repurchase Program For The Common Shares Approved For Repurchase

	Common Shares
	Authorized for
Amendment Date	Repurchase
(Dollars in thousands)
09/21/2004	5,000,000
07/21/2008	5,000,000
02/24/2010	5,000,000
02/22/2012	5,000,000
05/15/2013	5,000,000
11/19/2014	5,000,000
	30,000,000

Purchase Price For Common Shares

(Dollars in thousands)
Total purchase price	$	835,371

Dividends Received On Common Shares Reported As Net Investment Income

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Dividends received	$	9,234	$	7,290	$	27,702	$	21,870

Expenses Incurred By Holdings From Services Provided By Affiliated Company

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Expenses incurred	$	20,359	$	22,149	$	58,555	$	55,668

Affiliated Quota Share Reinsurance Agreements For All New And Renewal Business For The Indicated Coverage Period

		Percent			Assuming		Single			Aggregate
Coverage Period	Ceding Company	Ceded			Company	Type of Business	Occurrence Limit			Limit
01/01/2002-12/31/2002	Everest Re		20.0	%	Bermuda Re	property / casualty business	$	-		$	-
01/01/2003-12/31/2003	Everest Re		25.0	%	Bermuda Re	property / casualty business		-			-
01/01/2004-12/31/2005	Everest Re		22.5	%	Bermuda Re	property / casualty business		-			-
	Everest Re		2.5	%	Everest International	property / casualty business		-			-
01/01/2006-12/31/2006	Everest Re		18.0	%	Bermuda Re	property business		125,000	(1)		-
	Everest Re		2.0	%	Everest International	property business		-			-
01/01/2006-12/31/2007	Everest Re		31.5	%	Bermuda Re	casualty business		-			-
	Everest Re		3.5	%	Everest International	casualty business		-			-
01/01/2007-12/31/2007	Everest Re		22.5	%	Bermuda Re	property business		130,000	(1)		-
	Everest Re		2.5	%	Everest International	property business		-			-
01/01/2008-12/31/2008	Everest Re		36.0	%	Bermuda Re	property / casualty business		130,000	(1)		275,000	(2)
	Everest Re		4.0	%	Everest International	property / casualty business		-			-
01/01/2009-12/31/2009	Everest Re		36.0	%	Bermuda Re	property / casualty business		150,000	(1)		325,000	(2)
	Everest Re		8.0	%	Everest International	property / casualty business		-			-
01/01/2010-12/31/2010	Everest Re		44.0	%	Bermuda Re	property / casualty business		150,000			325,000
01/01/2011-12/31/2011	Everest Re		50.0	%	Bermuda Re	property / casualty business		150,000			300,000
01/01/2012-12/31/2014	Everest Re		50.0	%	Bermuda Re	property / casualty business		100,000			200,000
01/01/2015	Everest Re		50.0	%	Bermuda Re	property / casualty business		162,500			325,000
01/01/2003-12/31/2006	Everest Re- Canadian Branch		50.0	%	Bermuda Re	property business		-			-
01/01/2007-12/31/2009	Everest Re- Canadian Branch		60.0	%	Bermuda Re	property business		-			-
01/01/2010-12/31/2010	Everest Re- Canadian Branch		60.0	%	Bermuda Re	property business		350,000	(3)		-
01/01/2011-12/31/2011	Everest Re- Canadian Branch		60.0	%	Bermuda Re	property business		350,000	(3)		-
01/01/2012-12/31/2012	Everest Re- Canadian Branch		75.0	%	Bermuda Re	property / casualty business		206,250	(3)		412,500	(3)
01/01/2013-12/31/2013	Everest Re- Canadian Branch		75.0	%	Bermuda Re	property / casualty business		150,000	(3)		412,500	(3)
01/01/2014	Everest Re- Canadian Branch		75.0	%	Bermuda Re	property / casualty business		262,500	(3)		412,500	(3)

01/01/2012 Everest Canada 80.0 % Everest Re- Canadian Branch property business - -

(1)	The single occurance limit is applied before the loss cessions to either Bermuda Re or Everest International.
(2)	The aggregate limit is applied before the loss cessions to either Bermuda Re or Everest International.
(3)	Amounts shown are Canadian dollars.

Liability Limits For Any Losses Per One Occurrence

	Liability Limits
(Dollars in thousands)	Exceeding		Not to Exceed
Losses per one occurrence	$	100,000	$	150,000

Loss Portfolio Transfer Reinsurance Agreements, Net Insurance Exposures And Reserves Were Transferred To An Affiliate

(Dollars in thousands)
Effective	Transferring	Assuming	% of Business or			Covered Period
Date	Company	Company	Amount of Transfer			of Transfer
09/19/2000	Mt. McKinley	Bermuda Re		100	%	All years
10/01/2001	Everest Re  (Belgium Branch)	Bermuda Re		100	%	All years
10/01/2008	Everest Re	Bermuda Re	$	747,022		01/01/2002-12/31/2007

Premiums And Losses Ceded By The Company To Affiliate

	Three Months Ended				Nine Months Ended
Bermuda Re	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Ceded written premiums	$	646,001	$	664,316	$	1,713,502	$	1,706,390
Ceded earned premiums		591,656		598,641		1,708,807		1,613,741
Ceded losses and LAE (a)		343,660		344,513		984,371		879,336

	Three Months Ended						Nine Months Ended
Everest International	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015		2014
Ceded written premiums	$	168		$	131		$	313	$	219
Ceded earned premiums		208			176			441		450
Ceded losses and LAE		(724	)		(321	)		156		1,823

	Three Months Ended				Nine Months Ended
Everest Canada	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Assumed written premiums	$	11,046	$	10,425	$	29,533	$	25,650
Assumed earned premiums		9,174		7,106		26,498		17,062
Assumed losses and LAE		4,041		4,104		15,062		10,487

	Three Months Ended				Nine Months Ended
Mt. Logan Re	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Ceded written premiums	$	68,078	$	44,728	$	162,640	$	93,322
Ceded earned premiums		55,234		38,458		141,668		78,975
Ceded losses and LAE		17,071		3,113		38,542		17,904
Assumed written premiums		4,230		578		11,626		10,497
Assumed earned premiums		4,230		5,786		11,626		10,497
Assumed losses and LAE		-		-		-		-

(a) Ceded losses and LAE include the Mt. McKinley loss portfolio transfer that constitutes losses ceded under retroactive reinsurance and therefore, in accordance with FASB guidance, amortization of deferred gain on retroactive reinsurance is reflected in other income on the consolidated statements of operations and comprehensive income (loss). Upon the sale of Mt. McKinley, the value of the remaining deferred gain on retroactive reinsurance was included in the calculation of the realized gain on sale of subsidiary.

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Basis Of Presentation

9 Months Ended

Sep. 30, 2015

Basis Of Presentation [Abstract]

Basis Of Presentation

2.BASIS OF PRESENTATION

The unaudited consolidated financial statements of the Company for the three and nine months ended September 30, 2015 and 2014 include all adjustments, consisting of normal recurring accruals, which, in the opinion of management, are necessary for a fair statement of the results on an interim basis.  Certain financial information, which is normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"), has been omitted since it is not required for interim reporting purposes. The December 31, 2014 consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP.  The results for the three and nine months ended September 30, 2015 and 2014 are not necessarily indicative of the results for a full year.  These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the years ended December 31, 2014, 2013 and 2012 included in the Company's most recent Form 10-K filing.

All intercompany accounts and transactions have been eliminated.

Application of Recently Issued Accounting Standard Changes

No accounting standards or guidance have been issued recently that would have a material impact on the Company's financial statements or financial reporting process.

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Retirement Benefits (Tables)

9 Months Ended

Sep. 30, 2015

Retirement Benefits [Abstract]

Summary Of Net Periodic Benefit Cost For U.S. Employees

Pension Benefits	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Service cost	$	3,203		$	2,460		$	9,398		$	7,381
Interest cost		2,758			2,542			7,926			7,625
Expected return on plan assets		(2,904	)		(2,822	)		(8,710	)		(8,468	)
Amortization of prior service cost		4			13			15			38
Amortization of net (income) loss		2,312			1,173			6,824			3,356
FAS 88 settlement charge		-			5,269			-			5,269
Net periodic benefit cost	$	5,373		$	8,635		$	15,453		$	15,201

Other Benefits	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Service cost	$	498	$	407	$	1,498	$	1,221
Interest cost		329		342		987		1,026
Amortization of net (income) loss		76		82		497		246
Net periodic benefit cost	$	903	$	831	$	2,982	$	2,493

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Investments (Summary Of Components Of Net Investment Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Gross investment income before adjustment	$ 66,651	$ 88,090	$ 214,916	$ 228,391
Funds held interest income (expense)	940	970	4,326	4,262
Interest income from Parent	1,075		3,225
Gross investment income	68,666	89,060	222,467	232,653
Investment expenses	(5,303)	(5,614)	(15,598)	(16,784)
Net investment income	63,363	83,446	206,869	215,869
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income before adjustment	46,414	52,515	140,829	157,515
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income before adjustment	8,004	7,966	26,638	26,083
Short-Term Investments And Cash [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income before adjustment	220	196	705	841
Limited Partnerships [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income before adjustment	3,021	19,254	17,676	18,862
Dividends From Parent's Shares [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income before adjustment	9,234	7,290	27,702	21,870
Other [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income before adjustment	$ (242)	$ 869	$ 1,366	$ 3,220

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Senior Notes (Schedule Of Outstanding Senior Notes) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Parent Company [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Debt instrument, stated interest rate	1.72%
Date due	Dec. 31, 2023
Senior Notes 5.4% [Member] | Senior Notes [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Debt instrument, stated interest rate	5.40%
Date issued	Oct. 12, 2004
Date due	Oct. 15, 2014
Principal amounts	$ 250,000,000
Senior Notes 4.868% [Member] | Senior Notes [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Debt instrument, stated interest rate	4.868%	4.868%
Date issued	Jun. 05, 2014
Date due	Jun. 01, 2044	Jun. 01, 2044
Principal amounts	$ 400,000,000
Consolidated balance sheet amount	400,000,000	$ 400,000,000
Market value	$ 388,768,000	$ 404,892,000

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Dispositions (Narrative) (Details) - Mt. Mckinley Insurance Company [Member] $ in Thousands	Jul. 13, 2015 USD ($)
Gain (Loss) on Investments [Line Items]
Capital Stock Value Outstanding	$ 20,156
Gain (Loss) on Investments	$ 94,704

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Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
ASSETS:
Fixed maturities - available for sale, at market value (amortized cost: 2015, $5,327,880; 2014, $5,235,523)	$ 5,384,362	$ 5,293,411
Fixed maturities - available for sale, at fair value		1,509
Equity securities - available for sale, at market value (cost: 2015, $0; 2014, $15)		16
Equity securities - available for sale, at fair value	1,199,347	1,299,037
Short-term investments	382,233	564,364
Other invested assets (cost: 2015, $427,980; 2014, $435,010)	427,980	435,010
Other invested assets, at fair value	1,684,860	1,655,311
Cash	276,132	323,975
Total investments and cash	9,354,914	9,572,633
Note receivable - affiliated	250,000	250,000
Accrued investment income	48,522	45,386
Premiums receivable	1,306,646	1,086,203
Reinsurance receivables - unaffiliated	712,958	659,303
Reinsurance receivables - affiliated	3,459,615	3,372,715
Funds held by reinsureds	181,146	182,159
Deferred acquisition costs	89,267	109,262
Prepaid reinsurance premiums	849,228	809,083
Other assets	298,322	235,576
TOTAL ASSETS	16,550,618	16,322,320
LIABILITIES:
Reserve for losses and loss adjustment expenses	7,878,119	7,843,856
Unearned premium reserve	1,468,945	1,442,122
Funds held under reinsurance treaties	101,842	101,743
Losses in the course of payment	310,398	178,521
Commission reserves	52,936	63,110
Other net payable to reinsurers	971,929	1,028,549
4.868% Senior notes due 6/1/2014	400,000	400,000
6.6% Long term notes due 5/1/2067	238,367	238,364
Accrued interest on debt and borrowings	12,341	3,537
Income taxes	24,378	46,835
Unsettled securities payable	39,309	41,092
Other liabilities	264,795	361,874
Total liabilities	$ 11,763,359	$ 11,749,603
Commitments and Contingencies (Note 6)
STOCKHOLDER'S EQUITY:
Common stock, par value: $0.01; 3,000 shares authorized; 1,000 shares issued and outstanding (2015 and 2014)
Additional paid-in capital	$ 372,566	$ 362,293
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of ($19,525) at 2015 and $2,434 at 2014	(36,263)	4,519
Retained earnings	4,450,956	4,205,905
Total stockholder's equity	4,787,259	4,572,717
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$ 16,550,618	$ 16,322,320

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Fair Value (Activity Under Level 3, Fair Value Measurements Using Significant Unobservable Inputs By Asset Type) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 9,795	$ 2,532	$ 15,763	$ 4,018
Total gains or (losses) (realized/unrealized), Included in earnings	56	1,237	175	1,312
Total gains or (losses) (realized/unrealized), Included in other comprehensive income (loss)	(1,380)	(295)	(1,311)	(222)
Purchases, issuances and settlements	1,723	22,783	3,651	21,149
Transfers in and/or (out) of Level 3	1,206	(1,101)	(6,878)	(1,101)
Ending balance	11,400	$ 25,156	11,400	$ 25,156
The amount of total gains or losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at the reporting date
Corporate Debt Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	1,958
Total gains or (losses) (realized/unrealized), Included in earnings	(6)		(2)
Total gains or (losses) (realized/unrealized), Included in other comprehensive income (loss)	(93)	$ 42	(95)	$ 42
Purchases, issuances and settlements	1,723	1,274	3,651	1,274
Transfers in and/or (out) of Level 3	1,693		1,721
Ending balance	5,275	$ 1,316	5,275	$ 1,316
The amount of total gains or losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at the reporting date
Asset-backed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance		$ 2,528		$ 3,533
Total gains or (losses) (realized/unrealized), Included in earnings		1,235		1,291
Total gains or (losses) (realized/unrealized), Included in other comprehensive income (loss)		(284)		(191)
Purchases, issuances and settlements		17,898		16,744
Transfers in and/or (out) of Level 3		(1,101)		(1,101)
Ending balance		$ 20,276		$ 20,276
The amount of total gains or losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at the reporting date
Commercial Mortgage-Backed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance			8,597
Transfers in and/or (out) of Level 3			(8,597)
Foreign Corporate Debt Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	7,837		7,166	$ 481
Total gains or (losses) (realized/unrealized), Included in earnings	62		177	18
Total gains or (losses) (realized/unrealized), Included in other comprehensive income (loss)	(1,287)	$ (50)	(1,216)	(70)
Purchases, issuances and settlements		3,614		3,135
Transfers in and/or (out) of Level 3	(487)		(2)
Ending balance	$ 6,125	$ 3,564	$ 6,125	$ 3,564
The amount of total gains or losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at the reporting date
Non-agency Residential [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance		$ 4		$ 4
Total gains or (losses) (realized/unrealized), Included in earnings		2		3
Total gains or (losses) (realized/unrealized), Included in other comprehensive income (loss)		(3)		(3)
Purchases, issuances and settlements		$ (3)		$ (4)
The amount of total gains or losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at the reporting date

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Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 245,051	$ 344,781
Adjustments to reconcile net income to net cash provided by operating activities:
Decrease (increase) in premiums receivable	(225,922)	(237,390)
Decrease (increase) in funds held by reinsureds, net	589	762
Decrease (increase) in reinsurance receivables	(169,328)	(778,374)
Decrease (increase) in income taxes	(212)	12,264
Decrease (increase) in prepaid reinsurance premiums	(44,177)	(198,306)
Increase (decrease) in reserve for losses and loss adjustment expenses	107,006	150,411
Increase (decrease) in unearned premiums	34,627	241,650
Increase (decrease) in other net payable to reinsurers	(50,813)	353,468
Increase (decrease) in losses in course of payment	133,244	164,072
Change in equity adjustments in limited partnerships	(16,409)	(17,643)
Distribution of limited partnership income	36,883	32,548
Change in other assets and liabilities, net	(2,719)	(2,744)
Non-cash compensation expense	6,303	5,700
Amortization of bond premium (accrual of bond discount)	13,978	14,502
Amortization of underwriting discount on senior notes	3	43
Net realized capital (gains) losses	49,174	(120,904)
Net cash provided by (used in) operating activities	117,278	(35,160)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from fixed maturities matured/called - available for sale, at market value	696,268	829,363
Proceeds from fixed maturities matured/called - available for sale, at fair value		875
Proceeds from fixed maturities sold - available for sale, at market value	418,284	547,682
Proceeds from fixed maturities sold - available for sale, at fair value	1,824	23,855
Proceeds from equity securities sold - available for sale, at market value	16
Proceeds from equity securities sold - available for sale, at fair value	442,276	404,627
Proceeds from sale of subsidiary (net of cash disposed)	3,934
Distributions from other invested assets	36,130	41,854
Cost of fixed maturities acquired - available for sale, at market value	(1,403,187)	(2,008,937)
Cost of fixed maturities acquired - available for sale, at fair value	(234)	(23,684)
Cost of equity securities acquired - available for sale, at fair value	(442,306)	(237,749)
Cost of other invested assets acquired	(49,575)	(76,717)
Net change in short-term investments	176,876	97,262
Net change in unsettled securities transactions	(12,069)	(9,474)
Net cash provided by (used in) investing activities	(131,763)	(411,043)
CASH FLOWS FROM FINANCING ACTIVITIES:
Tax benefit from share-based compensation	3,970	3,239
Net proceeds from issuance of senior notes		400,000
Net cash provided by (used in) financing activities	3,970	403,239
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(37,328)	1,575
Net increase (decrease) in cash	(47,843)	(41,389)
Cash, beginning of period	323,975	316,807
Cash, end of period	276,132	275,418
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid (recovered)	104,727	129,608
Interest paid	$ 17,608	$ 14,719

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Segment Reporting (Schedule Of Underwriting Results For Operating Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Premiums earned	$ 546,050	$ 569,597	$ 1,588,536	$ 1,560,778
Incurred losses and LAE	370,754	380,580	1,002,513	980,143
Commission and brokerage	72,151	79,168	241,635	240,584
Other underwriting expenses	56,953	50,623	157,069	137,032
Underwriting gain (loss)	46,192	59,226	187,319	203,019
U.S. Reinsurance [Member]
Segment Reporting Information [Line Items]
Gross written premiums	601,570	679,904	1,615,276	1,663,320
Net written premiums	247,352	304,442	672,753	771,054
Premiums earned	235,275	275,521	726,113	739,977
Incurred losses and LAE	109,137	125,475	337,065	371,135
Commission and brokerage	48,881	51,231	141,948	144,747
Other underwriting expenses	13,718	12,119	37,054	33,054
Underwriting gain (loss)	63,539	86,696	210,046	191,041
International [Member]
Segment Reporting Information [Line Items]
Gross written premiums	374,138	419,457	1,019,406	1,214,343
Net written premiums	147,991	157,932	417,071	446,599
Premiums earned	135,130	145,662	433,751	438,394
Incurred losses and LAE	128,454	113,703	339,926	286,166
Commission and brokerage	27,936	23,767	93,178	80,348
Other underwriting expenses	9,128	8,759	25,292	24,689
Underwriting gain (loss)	(30,388)	(567)	(24,645)	47,191
Insurance [Member]
Segment Reporting Information [Line Items]
Gross written premiums	473,003	354,033	1,130,233	885,006
Net written premiums	203,730	149,542	490,140	386,694
Premiums earned	175,645	148,414	428,672	382,407
Incurred losses and LAE	133,163	141,402	325,522	322,842
Commission and brokerage	(4,666)	4,170	6,509	15,489
Other underwriting expenses	34,107	29,745	94,723	79,289
Underwriting gain (loss)	$ 13,041	$ (26,903)	$ 1,918	$ (35,213)

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Investments (Summary Of Unrealized Appreciation (Depreciation) Of Available For Sale, Fixed Maturity And Equity Security Investments) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 5,327,880	$ 5,235,523
Unrealized Appreciation	141,655	148,346
Unrealized Depreciation	(85,173)	(90,458)
Market Value	5,384,362	5,293,411
OTTI in AOCI	22	(9,735)
U.S. Treasury Securities And Obligations Of U.S. Government Agencies And Corporations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	222,879	135,724
Unrealized Appreciation	4,634	1,416
Unrealized Depreciation	(69)	(304)
Market Value	227,444	136,836
Obligations of US States and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	683,715	783,129
Unrealized Appreciation	32,088	41,969
Unrealized Depreciation	(1,524)	(626)
Market Value	714,279	824,472
Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,012,649	1,992,200
Unrealized Appreciation	35,136	39,954
Unrealized Depreciation	(48,623)	(53,219)
Market Value	1,999,162	1,978,935
OTTI in AOCI	6	(9,735)
Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	132,004	94,470
Unrealized Appreciation	689	727
Unrealized Depreciation	(232)	(374)
Market Value	132,461	94,823
Commercial Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	62,616	57,027
Unrealized Appreciation	1,960	2,292
Unrealized Depreciation	(55)	(51)
Market Value	64,521	59,268
Agency Residential [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	720,508	596,140
Unrealized Appreciation	7,833	6,697
Unrealized Depreciation	(2,306)	(4,720)
Market Value	726,035	598,117
Non-agency Residential [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	141	271
Unrealized Appreciation	27	44
Market Value	168	315
Foreign Government Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	448,501	515,016
Unrealized Appreciation	25,864	27,415
Unrealized Depreciation	(9,658)	(5,344)
Market Value	464,707	537,087
Foreign Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,044,867	1,061,546
Unrealized Appreciation	33,424	27,832
Unrealized Depreciation	(22,706)	(25,820)
Market Value	1,055,585	1,063,558
OTTI in AOCI	$ 16
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		15
Unrealized Appreciation		1
Market Value		$ 16

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Related-Party Transactions (Dividends Received On Common Shares Reported As Net Investment Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Related-Party Transactions [Abstract]
Dividends received	$ 9,234	$ 7,290	$ 27,702	$ 21,870

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Dispositions

9 Months Ended

Sep. 30, 2015

Dispositions [Abstract]

Dispositions

16.DISPOSITIONS

On July 13, 2015, the Company closed its agreement to sell all of the outstanding shares of capital stock of Mt. McKinley, a Delaware domiciled insurance company and wholly-owned subsidiary of the Company to Clearwater Insurance Company, a Delaware domiciled insurance company.  The purchase price of $20,156 thousand was based upon the statutory book value of Mt. McKinley as of the closing date. The Company recognized a pre-tax realized gain of $94,704 thousand on the sale of Mt. McKinley.

The transaction met the criteria for Held for Sale accounting.  In accordance with the guidance, the table below details the assets and liabilities associated with the business classified as Held for Sale at the time of closing.

(Dollars in thousands)
Investments and cash	$	16,223
Reinsurance recoverables		142,057
Deferred tax asset		35,451
Total assets held for sale	$	193,731
Reserve for losses and loss adjustment expenses	$	137,704
Deferred gain on retroactive reinsurance		94,704
Other liabilities		130
Total liabilities held for sale	$	232,538
Net liabilities held for sale	$	(38,807	)

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Investments (Summary Of Amortized Cost And Market Value Of Fixed Maturity Securities, By Contractual Maturity) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities - available for sale, Amortized Cost	$ 5,327,880	$ 5,235,523
Fixed maturity securities - available for sale, at market value	5,384,362	5,293,411
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities - available for sale, Due in one year or less, Amortized Cost	345,345	385,721
Fixed maturity securities - available for sale, Due after one year through five years, Amortized Cost	2,495,023	2,387,533
Fixed maturity securities - available for sale, Due after five years through ten years, Amortized Cost	970,585	1,025,221
Fixed maturity securities - available for sale, Due after ten years, Amortized Cost	601,658	689,140
Fixed maturity securities - available for sale, Due in one year or less, Market Value	345,322	384,022
Fixed maturity securities - available for sale, Due after one year through five years, Market Value	2,506,790	2,369,917
Fixed maturity securities - available for sale, Due after five years through ten years, Market Value	971,624	1,029,077
Fixed maturity securities - available for sale, Due after ten years, Market Value	637,441	757,872
Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities - available for sale, Amortized Cost	132,004	94,470
Fixed maturity securities - available for sale, at market value	132,461	94,823
Commercial Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities - available for sale, Amortized Cost	62,616	57,027
Fixed maturity securities - available for sale, at market value	64,521	59,268
Agency Residential [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities - available for sale, Amortized Cost	720,508	596,140
Fixed maturity securities - available for sale, at market value	726,035	598,117
Non-agency Residential [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities - available for sale, Amortized Cost	141	271
Fixed maturity securities - available for sale, at market value	$ 168	$ 315

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Investments (Tables)

9 Months Ended

Sep. 30, 2015

Investments [Abstract]

Summary Of Unrealized Appreciation (Depreciation) Of Available For Sale, Fixed Maturity And Equity Security Investments

	At September 30, 2015
	Amortized		Unrealized		Unrealized			Market		OTTI in AOCI
(Dollars in thousands)	Cost		Appreciation		Depreciation			Value		(a)
Fixed maturity securities
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	222,879	$	4,634	$	(69	)	$	227,444	$	-
Obligations of U.S. states and political subdivisions		683,715		32,088		(1,524	)		714,279		-
Corporate securities		2,012,649		35,136		(48,623	)		1,999,162		6
Asset-backed securities		132,004		689		(232	)		132,461		-
Mortgage-backed securities
Commercial		62,616		1,960		(55	)		64,521		-
Agency residential		720,508		7,833		(2,306	)		726,035		-
Non-agency residential		141		27		-			168		-
Foreign government securities		448,501		25,864		(9,658	)		464,707		-
Foreign corporate securities		1,044,867		33,424		(22,706	)		1,055,585		16
Total fixed maturity securities	$	5,327,880	$	141,655	$	(85,173	)	$	5,384,362	$	22
Equity securities	$	-	$	-	$	-		$	-	$	-

	At December 31, 2014
	Amortized		Unrealized		Unrealized			Market		OTTI in AOCI
(Dollars in thousands)	Cost		Appreciation		Depreciation			Value		(a)
Fixed maturity securities
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	135,724	$	1,416	$	(304	)	$	136,836	$	-
Obligations of U.S. states and political subdivisions		783,129		41,969		(626	)		824,472		-
Corporate securities		1,992,200		39,954		(53,219	)		1,978,935		(9,735	)
Asset-backed securities		94,470		727		(374	)		94,823		-
Mortgage-backed securities
Commercial		57,027		2,292		(51	)		59,268		-
Agency residential		596,140		6,697		(4,720	)		598,117		-
Non-agency residential		271		44		-			315		-
Foreign government securities		515,016		27,415		(5,344	)		537,087		-
Foreign corporate securities		1,061,546		27,832		(25,820	)		1,063,558		-
Total fixed maturity securities	$	5,235,523	$	148,346	$	(90,458	)	$	5,293,411	$	(9,735	)
Equity securities	$	15	$	1	$	-		$	16	$	-

^(a)  Represents the amount of OTTI recognized in AOCI.  Amount includes unrealized gains and losses on impaired securities relating to changes in the value of such securities subsequent to the impairment measurement date.

Summary Of Amortized Cost And Market Value Of Fixed Maturity Securities, By Contractual Maturity

	At September 30, 2015				At December 31, 2014
	Amortized		Market		Amortized		Market
(Dollars in thousands)	Cost		Value		Cost		Value
Fixed maturity securities – available for sale
Due in one year or less	$	345,345	$	345,322	$	385,721	$	384,022
Due after one year through five years		2,495,023		2,506,790		2,387,533		2,369,917
Due after five years through ten years		970,585		971,624		1,025,221		1,029,077
Due after ten years		601,658		637,441		689,140		757,872
Asset-backed securities		132,004		132,461		94,470		94,823
Mortgage-backed securities
Commercial		62,616		64,521		57,027		59,268
Agency residential		720,508		726,035		596,140		598,117
Non-agency residential		141		168		271		315
Total fixed maturity securities	$	5,327,880	$	5,384,362	$	5,235,523	$	5,293,411

Summary Of Changes In Net Unrealized Appreciation (Depreciation) For The Company's Investments

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Increase (decrease) during the period between the market value and cost
of investments carried at market value, and deferred taxes thereon:
Fixed maturity securities	$	(28,103	)	$	(41,410	)	$	(11,164	)	$	23,285
Fixed maturity securities, other-than-temporary impairment		22			-			9,757			-
Equity securities		-			1			(1	)		3
Change in unrealized  appreciation (depreciation), pre-tax		(28,081	)		(41,409	)		(1,408	)		23,288
Deferred tax benefit (expense)		9,835			14,492			3,907			(8,151	)
Deferred tax benefit (expense), other-than-temporary impairment		(7	)		-			(3,414	)		-
Change in unrealized appreciation (depreciation),
net of deferred taxes, included in stockholder's equity	$	(18,253	)	$	(26,917	)	$	(915	)	$	15,137

Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Security Type

	Duration of Unrealized Loss at September 30, 2015 By Security Type
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities - available for sale
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	201	$	(1	)	$	1,844	$	(68	)	$	2,045	$	(69	)
Obligations of U.S. states and political subdivisions		20,162		(316	)		35,460		(1,208	)		55,622		(1,524	)
Corporate securities		647,568		(34,098	)		291,894		(14,525	)		939,462		(48,623	)
Asset-backed securities		49,224		(203	)		8,601		(29	)		57,825		(232	)
Mortgage-backed securities
Commercial		6,003		(55	)		-		-			6,003		(55	)
Agency residential		97,964		(762	)		157,863		(1,544	)		255,827		(2,306	)
Non-agency residential		-		-			-		-			-		-
Foreign government securities		115,876		(3,827	)		66,812		(5,831	)		182,688		(9,658	)
Foreign corporate securities		286,978		(18,810	)		72,392		(3,896	)		359,370		(22,706	)
Total fixed maturity securities	$	1,223,976	$	(58,072	)	$	634,866	$	(27,101	)	$	1,858,842	$	(85,173	)
Equity securities		-		-			-		-			-		-
Total	$	1,223,976	$	(58,072	)	$	634,866	$	(27,101	)	$	1,858,842	$	(85,173	)

	Duration of Unrealized Loss at December 31, 2014 By Security Type
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities - available for sale
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	13,187	$	(20	)	$	26,897	$	(284	)	$	40,084	$	(304	)
Obligations of U.S. states and political subdivisions		20,428		(242	)		18,199		(384	)		38,627		(626	)
Corporate securities		830,928		(48,891	)		171,207		(4,328	)		1,002,135		(53,219	)
Asset-backed securities		62,451		(374	)		-		-			62,451		(374	)
Mortgage-backed securities
Commercial		11,742		(51	)		-		-			11,742		(51	)
Agency residential		24,230		(59	)		267,824		(4,661	)		292,054		(4,720	)
Non-agency residential		-		-			-		-			-		-
Foreign government securities		45,521		(913	)		53,086		(4,431	)		98,607		(5,344	)
Foreign corporate securities		228,733		(21,704	)		117,713		(4,116	)		346,446		(25,820	)
Total fixed maturity securities	$	1,237,220	$	(72,254	)	$	654,926	$	(18,204	)	$	1,892,146	$	(90,458	)
Equity securities		-		-			-		-			-		-
Total	$	1,237,220	$	(72,254	)	$	654,926	$	(18,204	)	$	1,892,146	$	(90,458	)

Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Contractual Maturity

	Duration of Unrealized Loss at September 30, 2015 By Maturity
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities
Due in one year or less	$	36,780	$	(1,633	)	$	17,019	$	(1,710	)	$	53,799	$	(3,343	)
Due in one year through five years		594,454		(29,341	)		304,349		(15,213	)		898,803		(44,554	)
Due in five years through ten years		382,520		(23,273	)		109,012		(7,616	)		491,532		(30,889	)
Due after ten years		57,031		(2,805	)		38,022		(989	)		95,053		(3,794	)
Asset-backed securities		49,224		(203	)		8,601		(29	)		57,825		(232	)
Mortgage-backed securities		103,967		(817	)		157,863		(1,544	)		261,830		(2,361	)
Total fixed maturity securities	$	1,223,976	$	(58,072	)	$	634,866	$	(27,101	)	$	1,858,842	$	(85,173	)

Duration of Unrealized Loss at December 31, 2014 By Maturity
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities
Due in one year or less	$	12,858	$	(550	)	$	53,528	$	(4,224	)	$	66,386	$	(4,774	)
Due in one year through five years		622,137		(51,262	)		243,192		(6,306	)		865,329		(57,568	)
Due in five years through ten years		467,187		(18,958	)		66,630		(2,018	)		533,817		(20,976	)
Due after ten years		36,615		(1,000	)		23,752		(995	)		60,367		(1,995	)
Asset-backed securities		62,451		(374	)		-		-			62,451		(374	)
Mortgage-backed securities		35,972		(110	)		267,824		(4,661	)		303,796		(4,771	)
Total fixed maturity securities	$	1,237,220	$	(72,254	)	$	654,926	$	(18,204	)	$	1,892,146	$	(90,458	)

Summary Of Components Of Net Investment Income

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Fixed maturities	$	46,414		$	52,515		$	140,829		$	157,515
Equity securities		8,004			7,966			26,638			26,083
Short-term investments and cash		220			196			705			841
Other invested assets
Limited partnerships		3,021			19,254			17,676			18,862
Dividends from Parent's shares		9,234			7,290			27,702			21,870
Other		(242	)		869			1,366			3,220
Gross investment income before adjustments		66,651			88,090			214,916			228,391
Funds held interest income (expense)		940			970			4,326			4,262
Interest income from Parent		1,075			-			3,225			-
Gross investment income		68,666			89,060			222,467			232,653
Investment expenses		(5,303	)		(5,614	)		(15,598	)		(16,784	)
Net investment income	$	63,363		$	83,446		$	206,869		$	215,869

Summary Of Components Of Net Realized Capital Gains (Losses)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Fixed maturity securities, market value:
Other-than-temporary impairments	$	(10,502	)	$	-		$	(43,433	)	$	(199	)
Gains (losses) from sales		(6,636	)		1,070			(30,362	)		(1,855	)
Fixed maturity securities, fair value:
Gains (losses) from sales		(17	)		82			25			1,022
Gains (losses) from fair value adjustments		-			(938	)		56			(938	)
Equity securities, market value:
Gains (losses) from sales		-			-			1			-
Equity securities, fair value:
Gains (losses) from sales		(13,656	)		(2,589	)		(14,010	)		(2,204	)
Gains (losses) from fair value adjustments		(101,322	)		(12,559	)		(85,710	)		65,399
Other invested assets, fair value:
Gains (losses) from fair value adjustments		(84,272	)		14,775			29,549			59,681
Gain on sale of subsidiary		94,704			-			94,704			-
Short-term investment gains (losses)		6			(1	)		6			(2	)
Total net realized capital gains (losses)	$	(121,695	)	$	(160	)	$	(49,174	)	$	120,904

Summary Of Gross Gains (Losses) From Sales Of Fixed Maturity And Equity Securities

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Proceeds from sales of fixed maturity securities	$	130,284		$	222,915		$	420,108		$	571,537
Gross gains from sales		1,401			4,408			9,039			10,698
Gross losses from sales		(8,054	)		(3,256	)		(39,376	)		(11,531	)
Proceeds from sales of equity securities	$	138,799		$	111,684		$	442,292		$	404,627
Gross gains from sales		5,241			1,697			17,655			12,019
Gross losses from sales		(18,896	)		(4,286	)		(31,664	)		(14,223	)

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Related-Party Transactions (Liability Limits For Any Losses Per One Occurrence) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015 USD ($)
Related-Party Transactions [Abstract]
Liability Limits, Losses per one occurrence, Exceeding	$ 100,000
Liability Limits, Losses per one occurrence, Not to Exceed	$ 150,000

XML

General

9 Months Ended

Sep. 30, 2015

General [Abstract]

General

1.GENERAL

As used in this document, "Holdings" means Everest Reinsurance Holdings, Inc., a Delaware company and direct subsidiary of Everest Underwriting Group (Ireland) Limited ("Holdings Ireland"); "Group" means Everest Re Group, Ltd. (Holdings Ireland's parent); "Bermuda Re" means Everest Reinsurance (Bermuda), Ltd., a subsidiary of Group; "Everest Re" means Everest Reinsurance Company and its subsidiaries, a subsidiary of Holdings (unless the context otherwise requires); "Mt. Logan Re" means Mt. Logan Re Ltd., a subsidiary of Group; and the "Company" means Holdings and its subsidiaries.

Effective July 13, 2015, the Company sold all of the outstanding shares of capital stock of a wholly-owned subsidiary entity, Mt. McKinley Insurance Company ("Mt. McKinley"), to Clearwater Insurance Company. The operating results of Mt. McKinley through July 13, 2015 are included within the Company's financial statements.

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Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Fixed maturities - available for sale, amortized cost	$ 5,327,880	$ 5,235,523
Equity securities - available for sale, cost	0	15
Other invested assets, cost	$ 427,980	$ 435,010
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	3,000	3,000
Common stock, shares issued	1,000	1,000
Common stock, shares outstanding	1,000	1,000
Accumulated other comprehensive income (loss), deferred income tax expense (benefit)	$ (19,525)	$ 2,434
Long Term Subordinated Debt [Member]
Debt instrument, stated interest rate	6.60%	6.60%
Debt instrument, maturity date	May 01, 2067	May 01, 2067
Senior Notes 4.868% [Member] | Senior Notes [Member]
Debt instrument, stated interest rate	4.868%	4.868%
Debt instrument, maturity date	Jun. 01, 2044	Jun. 01, 2044

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Long Term Subordinated Notes

9 Months Ended

Sep. 30, 2015

Long Term Subordinated Notes [Abstract]

Long Term Subordinated Notes

11.LONG TERM SUBORDINATED NOTES

The table below displays Holdings' outstanding fixed to floating rate long term subordinated notes.  Market value is based on quoted market prices, but due to limited trading activity, these subordinated notes are considered Level 2 in the fair value hierarchy.

Maturity Date

September 30, 2015

December 31, 2014

Original

Consolidated Balance

Consolidated Balance

(Dollars in thousands)

Date Issued

Principal Amount

Scheduled

Final

Sheet Amount

Market Value

Sheet Amount

Market Value

6.6% Long term subordinated notes

04/26/2007

$

400,000

05/15/2037

05/01/2067

$

238,367

$

218,281

$

238,364

$

246,312

During the fixed rate interest period from May 3, 2007 through May 14, 2017, interest will be at the annual rate of 6.6%, payable semi-annually in arrears on November 15 and May 15 of each year, commencing on November 15, 2007, subject to Holdings' right to defer interest on one or more occasions for up to ten consecutive years.  During the floating rate interest period from May 15, 2017 through maturity, interest will be based on the 3 month LIBOR plus 238.5 basis points, reset quarterly, payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, subject to Holdings' right to defer interest on one or more occasions for up to ten consecutive years.  Deferred interest will accumulate interest at the applicable rate compounded semi-annually for periods prior to May 15, 2017, and compounded quarterly for periods from and including May 15, 2017.

Holdings can redeem the long term subordinated notes prior to May 15, 2017, in whole but not in part at the applicable redemption price, which will equal the greater of (a) 100% of the principal amount being redeemed and (b) the present value of the principal payment on May 15, 2017 and scheduled payments of interest that would have accrued from the redemption date to May 15, 2017 on the long term subordinated notes being redeemed, discounted to the redemption date on a semi-annual basis at a discount rate equal to the treasury rate plus an applicable spread of either 0.25% or 0.50%, in each case plus accrued and unpaid interest.  Holdings may redeem the long term subordinated notes on or after May 15, 2017, in whole or in part at 100% of the principal amount plus accrued and unpaid interest; however, redemption on or after the scheduled maturity date and prior to May 1, 2047 is subject to a replacement capital covenant.  This covenant is for the benefit of certain senior note holders and it mandates that Holdings receive proceeds from the sale of another subordinated debt issue, of at least similar size, before it may redeem the subordinated notes. Effective upon the maturity of the Company's 5.40% senior notes on October 15, 2014, the Company's 4.868% senior notes, due on June 1, 2044, have become the Company's long term indebtedness that ranks senior to the long term subordinated notes.

On March 19, 2009, Group announced the commencement of a cash tender offer for any and all of the 6.60% fixed to floating rate long term subordinated notes.  Upon expiration of the tender offer, the Company had reduced its outstanding debt by $161,441 thousand.

Interest expense incurred in connection with these long term subordinated notes is as follows for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Interest expense incurred	$	3,937	$	3,937	$	11,811	$	11,811

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Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 01, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Entity Registrant Name	EVEREST REINSURANCE HOLDINGS INC
Entity Central Index Key	0000914748
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		1,000

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Segment Reporting

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Segment Reporting

12.SEGMENT REPORTING

The U.S. Reinsurance operation writes property and casualty reinsurance and specialty lines of business, including Marine, Aviation, Surety and Accident and Health ("A&H") business, on both a treaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies primarily within the U.S.  The International operation writes non-U.S. property and casualty reinsurance through Everest Re's branches in Canada, Singapore and through offices in Brazil, Miami and New Jersey.  The Insurance operation writes property and casualty insurance directly and through general agents, brokers and surplus lines brokers within the U.S.

These segments are managed independently, but conform with corporate guidelines with respect to pricing, risk management, control of aggregate catastrophe exposures, capital, investments and support operations.  Management generally monitors and evaluates the financial performance of these operating segments based upon their underwriting results.

Underwriting results include earned premium less losses and LAE incurred, commission and brokerage expenses and other underwriting expenses.  Underwriting results are measured using ratios, in particular loss, commission and brokerage and other underwriting expense ratios, which, respectively, divide incurred losses, commissions and brokerage and other underwriting expenses by premiums earned.

The Company does not maintain separate balance sheet data for its operating segments.  Accordingly, the Company does not review and evaluate the financial results of its operating segments based upon balance sheet data.

The following tables present the underwriting results for the operating segments for the period indicated:

	Three Months Ended				Nine Months Ended
U.S. Reinsurance	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Gross written premiums	$	601,570	$	679,904	$	1,615,276	$	1,663,320
Net written premiums		247,352		304,442		672,753		771,054
Premiums earned	$	235,275	$	275,521	$	726,113	$	739,977
Incurred losses and LAE		109,137		125,475		337,065		371,135
Commission and brokerage		48,881		51,231		141,948		144,747
Other underwriting expenses		13,718		12,119		37,054		33,054
Underwriting gain (loss)	$	63,539	$	86,696	$	210,046	$	191,041

	Three Months Ended						Nine Months Ended
International	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Gross written premiums	$	374,138		$	419,457		$	1,019,406		$	1,214,343
Net written premiums		147,991			157,932			417,071			446,599
Premiums earned	$	135,130		$	145,662		$	433,751		$	438,394
Incurred losses and LAE		128,454			113,703			339,926			286,166
Commission and brokerage		27,936			23,767			93,178			80,348
Other underwriting expenses		9,128			8,759			25,292			24,689
Underwriting gain (loss)	$	(30,388	)	$	(567	)	$	(24,645	)	$	47,191

	Three Months Ended						Nine Months Ended
Insurance	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015		2014
Gross written premiums	$	473,003		$	354,033		$	1,130,233	$	885,006
Net written premiums		203,730			149,542			490,140		386,694
Premiums earned	$	175,645		$	148,414		$	428,672	$	382,407
Incurred losses and LAE		133,163			141,402			325,522		322,842
Commission and brokerage		(4,666	)		4,170			6,509		15,489
Other underwriting expenses		34,107			29,745			94,723		79,289
Underwriting gain (loss)	$	13,041		$	(26,903	)	$	1,918	$	(35,213	)

The following table reconciles the underwriting results for the operating segments to income (loss) before taxes as reported in the consolidated statements of operations and comprehensive income (loss) for the periods indicated:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Underwriting gain (loss)	$	46,192		$	59,226		$	187,319		$	203,019
Net investment income		63,363			83,446			206,869			215,869
Net realized capital gains (losses)		(121,695	)		(160	)		(49,174	)		120,904
Corporate expense		(1,637	)		(4,620	)		(5,031	)		(5,398	)
Interest, fee and bond issue cost amortization expense		(8,859	)		(12,292	)		(26,576	)		(28,539	)
Other income (expense)		10,828			(3,739	)		38,950			(15,576	)
Income (loss) before taxes	$	(11,808	)	$	121,861		$	352,357		$	490,279

The Company produces business in the U.S. and internationally.  The net income deriving from assets residing in the individual foreign countries in which the Company writes business are not identifiable in the Company's financial records.  Based on gross written premium, the table below presents the largest country, other than the U.S., in which the Company writes business, for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Canada gross written premiums	$	31,903	$	41,644	$	85,575	$	116,133

No other country represented more than 5% of the Company's revenues.

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Consolidated Statements Of Operations And Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
REVENUES:
Premiums earned	$ 546,050	$ 569,597	$ 1,588,536	$ 1,560,778
Net investment income	63,363	$ 83,446	206,869	215,869
Net realized capital gains (losses):
Other-than-temporary impairments on fixed maturity securities	$ (10,502)		$ (43,433)	$ (199)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income (loss)
Realized gain on sale of subsidiary	$ 94,704		$ 94,704
Other net realized capital gains (losses)	(111,193)	$ (160)	(100,445)	$ 121,103
Total net realized capital gains (losses)	(121,695)	(160)	(49,174)	120,904
Other income (expense)	10,828	(3,739)	38,950	(15,576)
Total revenues	498,546	649,144	1,785,181	1,881,975
CLAIMS AND EXPENSES:
Incurred losses and loss adjustment expenses	370,754	380,580	1,002,513	980,143
Commission, brokerage, taxes and fees	72,151	79,168	241,635	240,584
Other underwriting expenses	56,953	50,623	157,069	137,032
Corporate expenses	1,637	4,620	5,031	5,398
Interest, fee and bond issue cost amortization expense	8,859	12,292	26,576	28,539
Total claims and expenses	510,354	527,283	1,432,824	1,391,696
INCOME (LOSS) BEFORE TAXES	(11,808)	121,861	352,357	490,279
Income tax expense (benefit)	(7,149)	21,720	107,306	145,498
NET INCOME (LOSS)	(4,659)	100,141	245,051	344,781
Other comprehensive income (loss), net of tax :
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period	(29,878)	(26,221)	(49,866)	13,678
Less: reclassification adjustment for realized losses (gains) included in net income (loss)	11,625	(696)	48,951	1,459
Total URA(D) on securities arising during the period	(18,253)	(26,917)	(915)	15,137
Foreign currency translation adjustments	$ (27,473)	$ (7,472)	$ (44,636)	$ (8,587)
Benefit plan actuarial net gain (loss) for the period
Reclassification adjustment for amortization of net (gain) loss included in net income (loss)	$ 1,556	$ 825	$ 4,769	$ 2,366
Total benefit plan net gain (loss) for the period	1,556	825	4,769	2,366
Total other comprehensive income (loss), Net of tax	(44,170)	(33,564)	(40,782)	8,916
COMPREHENSIVE INCOME (LOSS)	$ (48,829)	$ 66,577	$ 204,269	$ 353,697

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Contingencies

9 Months Ended

Sep. 30, 2015

Contingencies [Abstract]

Contingencies

6.CONTINGENCIES

In the ordinary course of business, the Company is involved in lawsuits, arbitrations and other formal and informal dispute resolution procedures, the outcomes of which will determine the Company's rights and obligations under insurance and reinsurance agreements.  In some disputes, the Company seeks to enforce its rights under an agreement or to collect funds owing to it.  In other matters, the Company is resisting attempts by others to collect funds or enforce alleged rights.  These disputes arise from time to time and are ultimately resolved through both informal and formal means, including negotiated resolution, arbitration and litigation.  In all such matters, the Company believes that its positions are legally and commercially reasonable.  The Company considers the statuses of these proceedings when determining its reserves for unpaid loss and loss adjustment expenses.

Aside from litigation and arbitrations related to these insurance and reinsurance agreements, the Company is not a party to any other material litigation or arbitration.

The Company has entered into separate annuity agreements with The Prudential Insurance of America ("The Prudential") and an additional unaffiliated life insurance company in which the Company has either purchased annuity contracts or become the assignee of annuity proceeds that are meant to settle claim payment obligations in the future. In both instances, the Company would become contingently liable if either The Prudential or the unaffiliated life insurance company were unable to make payments related to the respective annuity contact.

The table below presents the estimated cost to replace all such annuities for which the Company was contingently liable for the periods indicated:

	At September 30,		At December 31,
(Dollars in thousands)	2015		2014
The Prudential	$	142,661	$	142,653
Unaffiliated life insurance company		32,414		31,964

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Capital Transactions

9 Months Ended

Sep. 30, 2015

Capital Transactions [Abstract]

Capital Transactions

5.CAPITAL TRANSACTIONS

On July 9, 2014, the Company renewed its shelf registration statement on Form S-3ASR with the Securities and Exchange Commission (the "SEC"), as a Well Known Seasoned Issuer.  This shelf registration statement can be used by Group to register common shares, preferred shares, debt securities, warrants, share purchase contracts and share purchase units; by Holdings to register debt securities and by Everest Re Capital Trust III ("Capital Trust III") to register trust preferred securities.

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Subsequent Events

9 Months Ended

Sep. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

17.SUBSEQUENT EVENTS

The Company has entered into two collateralized reinsurance agreements with Kilimanjaro to provide the Company with catastrophe reinsurance coverage. Kilimanjaro has funded the catastrophe reinsurance coverage through the issuance of two classes of catastrophe reinsurance bonds in an aggregate amount of $625,000 thousand.

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Related-Party Transactions

9 Months Ended

Sep. 30, 2015

Related-Party Transactions [Abstract]

Related-Party Transactions

13.RELATED-PARTY TRANSACTIONS

Parent

Group entered into a $250,000 thousand long term promissory note agreement with Holdings as of December 31, 2014. The note will mature on December 31, 2023 and has an interest rate of 1.72% that will be paid annually, on December 15^th of each year. This transaction is presented as a Note Receivable – Affiliated in the Consolidated Balance Sheets of Holdings.

Group's Board of Directors approved an amended share repurchase program authorizing Group and/or its subsidiary Holdings to purchase Group's common shares through open market transactions, privately negotiated transactions or both.  The table below represents the amendments to the share repurchase program for the common shares approved for repurchase.

	Common Shares
	Authorized for
Amendment Date	Repurchase
(Dollars in thousands)
09/21/2004	5,000,000
07/21/2008	5,000,000
02/24/2010	5,000,000
02/22/2012	5,000,000
05/15/2013	5,000,000
11/19/2014	5,000,000
	30,000,000

As of September 30, 2015, Holdings held 9,719,971 common shares of Group, which it had purchased in the open market between February 1, 2007 and March 8, 2011.  The table below represents the total purchase price for these common shares purchased.

(Dollars in thousands)
Total purchase price	$	835,371

Holdings reports these purchases as other invested assets, fair value, in the consolidated balance sheets with changes in fair value re-measurement recorded in net realized capital gains (losses) in the consolidated statements of operations and comprehensive income (loss).  The following table presents the dividends received on these common shares that are reported as net investment income in the consolidated statements of operations and comprehensive income (loss) for the period indicated.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Dividends received	$	9,234	$	7,290	$	27,702	$	21,870

Affiliated Companies

Everest Global Services, Inc. ("Global Services"), an affiliate of Holdings, provides centralized management and home office services, through a management agreement, to Holdings and other affiliated companies within Holdings' consolidated structure.  Services provided by Everest Global include executive managerial services, legal services, actuarial services, accounting services, information technology services and others.

The following table presents the expenses incurred by Holdings from services provided by Everest Global for the periods indicated.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Expenses incurred	$	20,359	$	22,149	$	58,555	$	55,668

Affiliates

The table below represents affiliated quota share reinsurance agreements ("whole account quota share") for all new and renewal business for the indicated coverage period:

(Dollars in thousands)
		Percent			Assuming		Single			Aggregate
Coverage Period	Ceding Company	Ceded			Company	Type of Business	Occurrence Limit			Limit
01/01/2002-12/31/2002	Everest Re		20.0	%	Bermuda Re	property / casualty business	$	-		$	-
01/01/2003-12/31/2003	Everest Re		25.0	%	Bermuda Re	property / casualty business		-			-
01/01/2004-12/31/2005	Everest Re		22.5	%	Bermuda Re	property / casualty business		-			-
	Everest Re		2.5	%	Everest International	property / casualty business		-			-
01/01/2006-12/31/2006	Everest Re		18.0	%	Bermuda Re	property business		125,000	(1)		-
	Everest Re		2.0	%	Everest International	property business		-			-
01/01/2006-12/31/2007	Everest Re		31.5	%	Bermuda Re	casualty business		-			-
	Everest Re		3.5	%	Everest International	casualty business		-			-
01/01/2007-12/31/2007	Everest Re		22.5	%	Bermuda Re	property business		130,000	(1)		-
	Everest Re		2.5	%	Everest International	property business		-			-
01/01/2008-12/31/2008	Everest Re		36.0	%	Bermuda Re	property / casualty business		130,000	(1)		275,000	(2)
	Everest Re		4.0	%	Everest International	property / casualty business		-			-
01/01/2009-12/31/2009	Everest Re		36.0	%	Bermuda Re	property / casualty business		150,000	(1)		325,000	(2)
	Everest Re		8.0	%	Everest International	property / casualty business		-			-
01/01/2010-12/31/2010	Everest Re		44.0	%	Bermuda Re	property / casualty business		150,000			325,000
01/01/2011-12/31/2011	Everest Re		50.0	%	Bermuda Re	property / casualty business		150,000			300,000
01/01/2012-12/31/2014	Everest Re		50.0	%	Bermuda Re	property / casualty business		100,000			200,000
01/01/2015	Everest Re		50.0	%	Bermuda Re	property / casualty business		162,500			325,000
01/01/2003-12/31/2006	Everest Re- Canadian Branch		50.0	%	Bermuda Re	property business		-			-
01/01/2007-12/31/2009	Everest Re- Canadian Branch		60.0	%	Bermuda Re	property business		-			-
01/01/2010-12/31/2010	Everest Re- Canadian Branch		60.0	%	Bermuda Re	property business		350,000	(3)		-
01/01/2011-12/31/2011	Everest Re- Canadian Branch		60.0	%	Bermuda Re	property business		350,000	(3)		-
01/01/2012-12/31/2012	Everest Re- Canadian Branch		75.0	%	Bermuda Re	property / casualty business		206,250	(3)		412,500	(3)
01/01/2013-12/31/2013	Everest Re- Canadian Branch		75.0	%	Bermuda Re	property / casualty business		150,000	(3)		412,500	(3)
01/01/2014	Everest Re- Canadian Branch		75.0	%	Bermuda Re	property / casualty business		262,500	(3)		412,500	(3)

01/01/2012 Everest Canada 80.0 % Everest Re- Canadian Branch property business - -

(1)	The single occurance limit is applied before the loss cessions to either Bermuda Re or Everest International.
(2)	The aggregate limit is applied before the loss cessions to either Bermuda Re or Everest International.
(3)	Amounts shown are Canadian dollars.

 

For premiums earned and losses incurred for the period January 1, 2002 through December 31, 2002, Everest Re, Everest National Insurance Company and Everest Security Insurance Company entered into an Excess of Loss Reinsurance Agreement with Bermuda Re, covering workers' compensation losses occurring on and after January 1, 2002, as respect to new, renewal and in force policies effective on that date through December 31, 2002.  This agreement was commuted as of September 30, 2013.  The table below represents Bermuda Re's liability limits for any losses per one occurrence.

	Liability Limits
(Dollars in thousands)	Exceeding		Not to Exceed
Losses per one occurrence	$	100,000	$	150,000

The table below represents loss portfolio transfer reinsurance agreements whereby net insurance exposures and reserves were transferred to an affiliate.

(Dollars in thousands)
Effective	Transferring	Assuming	% of Business or			Covered Period
Date	Company	Company	Amount of Transfer			of Transfer
09/19/2000	Mt. McKinley	Bermuda Re		100	%	All years
10/01/2001	Everest Re  (Belgium Branch)	Bermuda Re		100	%	All years
10/01/2008	Everest Re	Bermuda Re	$	747,022		01/01/2002-12/31/2007

On July 13, 2015, the Company sold Mt. McKinley to Clearwater Insurance Company, a Delaware domiciled insurance company. As of that date, Mt. McKinley is no longer deemed an affiliated company or related party.

The following tables summarize the premiums and losses ceded by the Company to Bermuda Re and Everest International, respectively, and premiums and losses assumed by the Company from Everest Canada for the periods indicated:

	Three Months Ended				Nine Months Ended
Bermuda Re	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Ceded written premiums	$	646,001	$	664,316	$	1,713,502	$	1,706,390
Ceded earned premiums		591,656		598,641		1,708,807		1,613,741
Ceded losses and LAE (a)		343,660		344,513		984,371		879,336

	Three Months Ended						Nine Months Ended
Everest International	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015		2014
Ceded written premiums	$	168		$	131		$	313	$	219
Ceded earned premiums		208			176			441		450
Ceded losses and LAE		(724	)		(321	)		156		1,823

	Three Months Ended				Nine Months Ended
Everest Canada	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Assumed written premiums	$	11,046	$	10,425	$	29,533	$	25,650
Assumed earned premiums		9,174		7,106		26,498		17,062
Assumed losses and LAE		4,041		4,104		15,062		10,487

(a) Ceded losses and LAE include the Mt. McKinley loss portfolio transfer that constitutes losses ceded under retroactive reinsurance and therefore, in accordance with FASB guidance, amortization of deferred gain on retroactive reinsurance is reflected in other income on the consolidated statements of operations and comprehensive income (loss). Upon the sale of Mt. McKinley, the value of the remaining deferred gain on retroactive reinsurance was included in the calculation of the realized gain on sale of subsidiary.

Everest Re sold net assets of its UK branch to Bermuda Re and provided Bermuda Re with a reserve indemnity agreement allowing for indemnity payments of up to 90% of £25.0 million of the excess of 2002 and prior reserves, provided that any recognition of profit from the reserves for 2002 and prior underwriting years is taken into account.

Effective February 27, 2013, Group established a new subsidiary, Mt. Logan Re, which is a Class 3 insurer based in Bermuda.  Effective July 1, 2013, Mt. Logan Re established separate segregated accounts for its business activity, which will invest in a diversified set of catastrophe exposures.

The following table summarizes the premiums and losses that are ceded by the Company to Mt. Logan Re and assumed by the Company from Mt. Logan Re.

	Three Months Ended				Nine Months Ended
Mt. Logan Re	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Ceded written premiums	$	68,078	$	44,728	$	162,640	$	93,322
Ceded earned premiums		55,234		38,458		141,668		78,975
Ceded losses and LAE		17,071		3,113		38,542		17,904
Assumed written premiums		4,230		578		11,626		10,497
Assumed earned premiums		4,230		5,786		11,626		10,497
Assumed losses and LAE		-		-		-		-

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Reinsurance And Trust Agreements

9 Months Ended

Sep. 30, 2015

Reinsurance And Trust Agreements [Abstract]

Reinsurance And Trust Agreements

9.REINSURANCE AND TRUST AGREEMENTS

A subsidiary of the Company, Everest Re, has established a trust agreement, which effectively uses Everest Re's investments as collateral, as security for assumed losses payable to a non-affiliated ceding company.  At September 30, 2015, the total amount on deposit in the trust account was $306,214 thousand.

On April 24, 2014, the Company entered into two collateralized reinsurance agreements with Kilimanjaro Re Limited ("Kilimanjaro"), a Bermuda based special purpose reinsurer, to provide the Company with catastrophe reinsurance coverage.  These agreements are multi-year reinsurance contracts which cover specified named storm and earthquake events.  The first agreement provides up to $250,000 thousand of reinsurance coverage from named storms in specified states of the Southeastern United States.  The second agreement provides up to $200,000 thousand of reinsurance coverage from named storms in specified states of the Southeast, Mid-Atlantic and Northeast regions of the United States and Puerto Rico as well as reinsurance coverage from earthquakes in specified states of the Southeast, Mid-Atlantic, Northeast and West regions of the United States, Puerto Rico and British Columbia.

On November 18, 2014, the Company entered into a collateralized reinsurance agreement with Kilimanjaro Re to provide the Company with catastrophe reinsurance coverage.  This agreement is a multi-year reinsurance contract which covers specified earthquake events.  The agreement provides up to $500,000 thousand of reinsurance coverage from earthquakes in the United States, Puerto Rico and Canada.

Kilimanjaro has financed the various property catastrophe reinsurance coverage by issuing catastrophe bonds to unrelated, external investors. On April, 24, 2014, Kilimanjaro issued $450,000 thousand of variable rate notes ("Series 2014-1 Notes").  On November 18, 2014, Kilimanjaro issued $500,000 thousand of variable rate notes ("Series 2014-2 Notes"). The proceeds from the issuance of the Series 2014-1 Notes and the Series 2014-2 Notes are held in reinsurance trust throughout the duration of the applicable reinsurance agreements and invested solely in US government money market funds with a rating of at least "AAAm" by Standard & Poor's.

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Segment Reporting (Schedule Of Underwriting Results For Operating Segments To Income (Loss) Before Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting [Abstract]
Underwriting gain (loss)	$ 46,192	$ 59,226	$ 187,319	$ 203,019
Net investment income	63,363	83,446	206,869	215,869
Net realized capital gains (losses)	(121,695)	(160)	(49,174)	120,904
Corporate expense	(1,637)	(4,620)	(5,031)	(5,398)
Interest, fee and bond issue cost amortization expense	(8,859)	(12,292)	(26,576)	(28,539)
Other income (expense)	10,828	(3,739)	38,950	(15,576)
INCOME (LOSS) BEFORE TAXES	$ (11,808)	$ 121,861	$ 352,357	$ 490,279

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Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2015

Other Comprehensive Income (Loss) [Abstract]

Other Comprehensive Income (Loss)

7.OTHER COMPREHENSIVE INCOME (LOSS)

The following tables present the components of comprehensive income (loss) in the consolidated statements of operations and comprehensive income (loss) for the periods indicated:

	Three Months Ended September 30, 2015									Nine Months Ended September 30, 2015
(Dollars in thousands)	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
Unrealized appreciation (depreciation) ("URA(D)") on securities - temporary	$	(45,240	)	$	15,347		$	(29,893	)	$	(84,958	)	$	28,749		$	(56,209	)
URA(D) on securities - OTTI		22			(7	)		15			9,757			(3,414	)		6,343
Reclassification of net realized losses (gains) included in net income (loss)		17,137			(5,512	)		11,625			73,793			(24,842	)		48,951
Foreign currency translation adjustments		(42,266	)		14,793			(27,473	)		(68,670	)		24,034			(44,636	)
Benefit plan actuarial net gain (loss)		-			-			-			-			-			-
Reclassification of amortization of net gain (loss) included in net income (loss)		2,393			(837	)		1,556			7,336			(2,567	)		4,769
Total other comprehensive income (loss)	$	(67,954	)	$	23,784		$	(44,170	)	$	(62,742	)	$	21,960		$	(40,782	)
(Some amounts may not reconcile due to rounding)

	Three Months Ended September 30, 2014									Nine Months Ended September 30, 2014
(Dollars in thousands)	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
Unrealized appreciation (depreciation) ("URA(D)") on securities - temporary	$	(40,339	)	$	14,118		$	(26,221	)	$	21,234		$	(7,556	)	$	13,678
URA(D) on securities - OTTI		-			-			-			-			-			-
Reclassification of net realized losses (gains) included in net income (loss)		(1,070	)		374			(696	)		2,054			(595	)		1,459
Foreign currency translation adjustments		(11,496	)		4,024			(7,472	)		(13,211	)		4,624			(8,587	)
Benefit plan actuarial net gain (loss)		-			-			-			-			-			-
Reclassification of amortization of net gain (loss) included in net income (loss)		1,269			(444	)		825			3,640			(1,274	)		2,366
Total other comprehensive income (loss)	$	(51,636	)	$	18,072		$	(33,564	)	$	13,717		$	(4,801	)	$	8,916
(Some amounts may not reconcile due to rounding)

The following table presents details of the amounts reclassified from AOCI for the periods indicated:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,						Affected line item within the statements of
AOCI component	2015			2014			2015			2014			operations and comprehensive income (loss)
(Dollars in thousands)
URA(D) on securities	$	17,137		$	(1,070	)	$	73,793		$	2,054		Other net realized capital gains (losses)
		(5,512	)		374			(24,842	)		(595	)	Income tax expense (benefit)
	$	11,625		$	(696	)	$	48,951		$	1,459		Net income (loss)
Benefit plan net gain (loss)	$	2,393		$	1,269		$	7,336		$	3,640		Other underwriting expenses
		(837	)		(444	)		(2,567	)		(1,274	)	Income tax expense (benefit)
	$	1,556		$	825		$	4,769		$	2,366		Net income (loss)
(Some amounts may not reconcile due to rounding)

The following table presents the components of accumulated other comprehensive income (loss), net of tax, in the consolidated balance sheets for the periods indicated:

	Nine Months Ended			Twelve Months Ended
	September 30,			December 31,
(Dollars in thousands)	2015			2014
Beginning balance of URA (D) on securities	$	37,628		$	55,457
Current period change in URA (D) of investments - temporary		(7,258	)		(11,501	)
Current period change in URA (D) of investments - non-credit OTTI		6,343			(6,328	)
Ending balance of URA (D) on securities		36,713			37,628
Beginning balance of foreign currency translation adjustments		41,877			71,087
Current period change in foreign currency translation adjustments		(44,636	)		(29,210	)
Ending balance of foreign currency translation adjustments		(2,759	)		41,877
Beginning balance of benefit plan net gain (loss)		(74,986	)		(38,896	)
Current period change in benefit plan net gain (loss)		4,769			(36,090	)
Ending balance of benefit plan net gain (loss)		(70,217	)		(74,986	)
Ending balance of accumulated other comprehensive income (loss)	$	(36,263	)	$	4,519

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Credit Facility-Expired

9 Months Ended

Sep. 30, 2015

Credit Facility-Expired [Abstract]

Credit Facility-Expired

8.CREDIT FACILITY - EXPIRED

Effective August 15, 2011, the Company entered into a three year, $150,000 thousand unsecured revolving credit facility, referred to as the "Holdings Credit Facility", which expired on August 15, 2014.  The Company decided not to renew the Holdings Credit Facility at expiration.

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Senior Notes

9 Months Ended

Sep. 30, 2015

Senior Notes [Abstract]

Senior Notes

10.SENIOR NOTES

The table below displays Holdings' outstanding senior notes.  Market value is based on quoted market prices, but due to limited trading activity, these senior notes are considered Level 2 in the fair value hierarchy.

					September 30, 2015				December 31, 2014
					Consolidated Balance				Consolidated Balance
(Dollars in thousands)	Date Issued	Date Due	Principal Amounts		Sheet Amount		Market Value		Sheet Amount		Market Value
4.868% Senior notes	06/05/2014	06/01/2044	$	400,000	$	400,000	$	388,768	$	400,000	$	404,892
5.40% Senior notes	10/12/2004	10/15/2014		250,000		-		-		-		-

On June 5, 2014, Holdings issued $400,000 thousand of 30 year senior notes at 4.868%, which will mature on June 1, 2044. Interest will be paid semi-annually on June 1 and December 1 of each year.  The proceeds from the issuance have been used in part to pay off the $250,000 thousand of 5.40% senior notes which matured on October 15, 2014.

Interest expense incurred in connection with these senior notes is as follows for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Interest expense incurred	$	4,868	$	8,256	$	14,604	$	16,385

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Related-Party Transactions (Purchase Price For Common Shares) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015 USD ($)
Related-Party Transactions [Abstract]
Total purchase price	$ 835,371

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Related-Party Transactions (Expenses Incurred By Holdings From Services Provided By Affiliated Company) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Related-Party Transactions [Abstract]
Expenses incurred	$ 20,359	$ 22,149	$ 58,555	$ 55,668

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Related-Party Transactions (Amendments To The Share Repurchase Program For The Common Shares Approved For Repurchase) (Details)	Sep. 30, 2015 shares
Equity, Class of Treasury Stock [Line Items]
Common Shares Authorized for Repurchase, amount	30,000,000
Amendment Date, 09/21/2004 [Member]
Equity, Class of Treasury Stock [Line Items]
Common Shares Authorized for Repurchase, amount	5,000,000
Amendment Date, 07/21/2008 [Member]
Equity, Class of Treasury Stock [Line Items]
Common Shares Authorized for Repurchase, amount	5,000,000
Amendment Date, 02/24/2010 [Member]
Equity, Class of Treasury Stock [Line Items]
Common Shares Authorized for Repurchase, amount	5,000,000
Amendment Date, 02/22/2012 [Member]
Equity, Class of Treasury Stock [Line Items]
Common Shares Authorized for Repurchase, amount	5,000,000
Amendment Date, 05/15/2013 [Member]
Equity, Class of Treasury Stock [Line Items]
Common Shares Authorized for Repurchase, amount	5,000,000
Amendment Date, 11/19/2014 [Member]
Equity, Class of Treasury Stock [Line Items]
Common Shares Authorized for Repurchase, amount	5,000,000

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Investments (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 13, 2015	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Percentage threshold that triggers a review of available for sale debt securities for declines in market value			80.00%
Aggregate market value of investments in unrealized loss position		$ 1,858,842	$ 1,858,842	$ 1,892,146
Gross unrealized losses on investments in unrealized loss position		85,173	85,173	90,458
Fixed maturity securities, duration of unrealized loss, less than 12 months, gross unrealized depreciation		58,072	58,072	72,254
Fixed maturity securities, duration of unrealized loss, greater than 12 months, gross unrealized depreciation		27,101	27,101	$ 18,204
Additional contractual commitments		$ 245,663	$ 245,663
Other invested assets, at fair value, shares		9,719,971	9,719,971
Percentage of shares representing the total outstanding shares		18.00%	18.00%
Gain on sale of subsidiary		$ 94,704	$ 94,704
Sales Revenue, Net [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage threshold of unrealized losses not exceeded by any one single issuer			0.30%	0.30%
Minimum [Member]
Schedule of Available-for-sale Securities [Line Items]
Limited partnership financial reporting lag time, months			1 month
Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Limited partnership financial reporting lag time, months			3 months
Mt. Mckinley Insurance Company [Member]
Schedule of Available-for-sale Securities [Line Items]
purchase price	$ 20,156
Gain on sale of subsidiary	$ 94,704
Investment Grade [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, duration of unrealized loss, greater than 12 months, gross unrealized depreciation				$ 16,680
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Aggregate market value of investments in unrealized loss position		1,858,842	$ 1,858,842	1,892,146
Gross unrealized losses on investments in unrealized loss position		85,173	85,173	90,458
Fixed maturity securities, duration of unrealized loss, less than 12 months, gross unrealized depreciation		58,072	58,072	72,254
Fixed maturity securities, duration of unrealized loss, greater than 12 months, gross unrealized depreciation		27,101	27,101	18,204
Energy Sector [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, duration of unrealized loss, less than 12 months, gross unrealized depreciation		36,358	36,358	53,772
Fixed maturity securities, duration of unrealized loss, greater than 12 months, gross unrealized depreciation		5,056	5,056
Foreign Exchange Losses [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, duration of unrealized loss, less than 12 months, gross unrealized depreciation		11,313	11,313	$ 7,298
Fixed maturity securities, duration of unrealized loss, greater than 12 months, gross unrealized depreciation		$ 13,322	$ 13,322

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Reinsurance And Trust Agreements (Details) $ in Thousands	Nov. 18, 2014 USD ($)	Apr. 24, 2014 USD ($) item	Sep. 30, 2015 USD ($)
Effects of Reinsurance [Line Items]
Amount on deposit in trust accounts			$ 306,214
Kilimanjaro Re Limited [Member]
Effects of Reinsurance [Line Items]
Number of collateralized reinsurance agreements | item		2
Kilimanjaro Re Limited [Member] | Catastrophe Reinsurance [Member]
Effects of Reinsurance [Line Items]
Reinsurance coverage amount	$ 500,000
Catastrophe reinsurance bonds, funded amount	$ 500,000	$ 450,000
Kilimanjaro Re Limited [Member] | Catastrophe Reinsurance [Member] | Southeastern United States [Member]
Effects of Reinsurance [Line Items]
Reinsurance coverage amount		250,000
Kilimanjaro Re Limited [Member] | Catastrophe Reinsurance [Member] | Southeast, Mid-Atlantic And Northeast United States And Puerto Rico [Member]
Effects of Reinsurance [Line Items]
Reinsurance coverage amount		$ 200,000

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Income Taxes

9 Months Ended

Sep. 30, 2015

Income Taxes [Abstract]

Income Taxes

15.INCOME TAXES

The Company is domiciled in the United States and has subsidiaries domiciled within the United States with significant branches in Canada and Singapore.  The Company's non-U.S. branches are subject to income taxation at varying rates in their respective domiciles.

For interim reporting periods, the company is generally required to use the annualized effective tax rate ("AETR") method, as prescribed by ASC 740-270, Interim Reporting, to calculate its income tax provision.  Under this method, the AETR is applied to the interim year-to-date pre-tax income to determine the income tax expense or benefit for the year-to-date period.  The income tax expense or benefit for a quarter represents the difference between the year-to-date income tax expense or benefit for the current year-to-date period less such amount for the immediately preceding year-to-date period.  Management considers the impact of all known events in its estimation of the Company's annual pre-tax income and AETR.

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Contingencies (Tables)

9 Months Ended

Sep. 30, 2015

Contingencies [Abstract]

Estimated Cost To Replace All Such Annuities For Which The Company Was Contingently Liable

	At September 30,		At December 31,
(Dollars in thousands)	2015		2014
The Prudential	$	142,661	$	142,653
Unaffiliated life insurance company		32,414		31,964

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Other Comprehensive Income (Loss) (Components Of Accumulated Other Comprehensive Income (Loss), Net Of Tax, In The Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Other Comprehensive Income (Loss) [Abstract]
Beginning balance of URA (D) on securities			$ 37,628	$ 55,457	$ 55,457
Current period change in URA (D) of investments - temporary			(7,258)		(11,501)
Current period change in URA (D) of investments - non-credit OTTI			6,343		(6,328)
Ending balance of URA (D) on securities	$ 36,713		36,713		37,628
Beginning balance of foreign currency translation adjustments			41,877	71,087	71,087
Current period change in foreign currency translation adjustments			(44,636)		(29,210)
Ending balance of foreign currency translation adjustments	(2,759)		(2,759)		41,877
Beginning balance of benefit plan net gain (loss)			(74,986)	(38,896)	(38,896)
Current period change in benefit plan net gain (loss)	1,556	$ 825	4,769	$ 2,366	(36,090)
Ending balance of benefit plan net gain (loss)	(70,217)		(70,217)		(74,986)
Ending balance of accumulated other comprehensive income (loss)	$ (36,263)		$ (36,263)		$ 4,519

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Investments (Summary Of Components Of Net Realized Capital Gains (Losses)) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Other-than-temporary impairments	$ (10,502)		$ (43,433)	$ (199)
Gain on sale of subsidiary	94,704		94,704
Total net realized capital gains (losses)	(121,695)	$ (160)	(49,174)	120,904
Fixed Maturity Securities [Member] | Market Value [Member]
Schedule of Available-for-sale Securities [Line Items]
Other-than-temporary impairments	(10,502)		(43,433)	(199)
Gains (losses) from sales	(6,636)	$ 1,070	(30,362)	(1,855)
Fixed Maturity Securities [Member] | Fair Value [Member]
Schedule of Available-for-sale Securities [Line Items]
Gains (losses) from sales	(17)	82	25	1,022
Gains (losses) from fair value adjustments		(938)	56	(938)
Equity Securities [Member] | Market Value [Member]
Schedule of Available-for-sale Securities [Line Items]
Gains (losses) from sales			1
Equity Securities [Member] | Fair Value [Member]
Schedule of Available-for-sale Securities [Line Items]
Gains (losses) from sales	(13,656)	(2,589)	(14,010)	(2,204)
Gains (losses) from fair value adjustments	(101,322)	(12,559)	(85,710)	65,399
Other Invested Assets [Member] | Fair Value [Member]
Schedule of Available-for-sale Securities [Line Items]
Gains (losses) from fair value adjustments	(84,272)	14,775	29,549	59,681
Short-Term Investments And Cash [Member]
Schedule of Available-for-sale Securities [Line Items]
Gains (losses) from sales	$ 6	$ (1)	$ 6	$ (2)

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Consolidated Statements Of Changes In Stockholder's Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss), Net Of Deferred Income Taxes [Member]	Retained Earnings [Member]	Total
Balance, beginning of period, shares at Dec. 31, 2013	1,000
Balance, beginning of period at Dec. 31, 2013		$ 351,051	$ 87,648	$ 3,751,779
Share-based compensation plans		8,939
Net increase (decrease) during the period			8,916		$ 8,916
Net income (loss)				344,781	344,781
Balance, end of period, shares at Sep. 30, 2014	1,000
Balance, end of period at Sep. 30, 2014		359,990	96,564	4,096,560	4,553,114
Balance, beginning of period, shares at Jun. 30, 2014	1,000
Balance, beginning of period at Jun. 30, 2014		357,537	130,128	3,996,419
Share-based compensation plans		2,453
Net increase (decrease) during the period			(33,564)		(33,564)
Net income (loss)				100,141	100,141
Balance, end of period, shares at Sep. 30, 2014	1,000
Balance, end of period at Sep. 30, 2014		359,990	96,564	4,096,560	$ 4,553,114
Balance, beginning of period, shares at Dec. 31, 2014	1,000				1,000
Balance, beginning of period at Dec. 31, 2014		362,293	4,519	4,205,905	$ 4,572,717
Share-based compensation plans		10,273
Net increase (decrease) during the period			(40,782)		(40,782)
Net income (loss)				245,051	$ 245,051
Balance, end of period, shares at Sep. 30, 2015	1,000				1,000
Balance, end of period at Sep. 30, 2015		372,566	(36,263)	4,450,956	$ 4,787,259
Balance, beginning of period, shares at Jun. 30, 2015	1,000
Balance, beginning of period at Jun. 30, 2015		369,284	7,907	4,455,615
Share-based compensation plans		3,282
Net increase (decrease) during the period			(44,170)		(44,170)
Net income (loss)				(4,659)	$ (4,659)
Balance, end of period, shares at Sep. 30, 2015	1,000				1,000
Balance, end of period at Sep. 30, 2015		$ 372,566	$ (36,263)	$ 4,450,956	$ 4,787,259

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Fair Value

9 Months Ended

Sep. 30, 2015

Fair Value [Abstract]

Fair Value

4.FAIR VALUE

GAAP guidance regarding fair value measurements address how companies should measure fair value when they are required to use fair value measures for recognition or disclosure purposes under GAAP and provides a common definition of fair value to be used throughout GAAP.  It defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly fashion between market participants at the measurement date.  In addition, it establishes a three-level valuation hierarchy for the disclosure of fair value measurements.  The valuation hierarchy is based on the transparency of inputs to the valuation of an asset or liability.  The level in the hierarchy within which a given fair value measurement falls is determined based on the lowest level input that is significant to the measurement, with Level 1 being the highest priority and Level 3 being the lowest priority.

The levels in the hierarchy are defined as follows:

Level 1: Inputs to the valuation methodology are observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in an active market;

Level 2: Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument;

Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The Company's fixed maturity and equity securities are primarily managed by third party investment asset managers.  The investment asset managers obtain prices from nationally recognized pricing services.   These services seek to utilize market data and observations in their evaluation process.  They use pricing applications that vary by asset class and incorporate available market information and when fixed maturity securities do not trade on a daily basis the services will apply available information through processes such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing.  In addition, they use model processes, such as the Option Adjusted Spread model to develop prepayment and interest rate scenarios for securities that have prepayment features.

In limited instances where prices are not provided by pricing services or in rare instances when a manager may not agree with the pricing service, price quotes on a non-binding basis are obtained from investment brokers.  The investment asset managers do not make any changes to prices received from either the pricing services or the investment brokers.  In addition, the investment asset managers have procedures in place to review the reasonableness of the prices from the service providers and may request verification of the prices.  In addition, the Company continually performs analytical reviews of price changes and tests the prices on a random basis to an independent pricing source.   No material variances were noted during these price validation procedures.  In limited situations, where financial markets are inactive or illiquid, the Company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value.  Due to the unavailability of prices for one private placement security, the Company valued the security at $6,125 thousand at September 30, 2015 and made no such adjustments at December 31, 2014.

The Company internally manages a small public equity portfolio which had a fair value at September 30, 2015 and December 31, 2014 of $114,519 thousand and $96,890 thousand, respectively, and all prices were obtained from publically published sources.

Equity securities denominated in U.S. currency with quoted prices in active markets for identical assets are categorized as level 1 since the quoted prices are directly observable.  Equity securities traded on foreign exchanges are categorized as level 2 due to the added input of a foreign exchange conversion rate to determine fair or market value.  The Company uses foreign currency exchange rates published by nationally recognized sources.

All categories of fixed maturity securities listed in the tables below are generally categorized as level 2, since a particular security may not have traded but the pricing services are able to use valuation models with observable market inputs such as interest rate yield curves and prices for similar fixed maturity securities in terms of issuer, maturity and seniority.  For foreign government securities and foreign corporate securities, the fair values provided by the third party pricing services in local currencies, and where applicable, are converted to U.S. dollars using currency exchange rates from nationally recognized sources.

The fixed maturities with fair values categorized as level 3 result when prices are not available from the nationally recognized pricing services.  The asset managers will then obtain non-binding price quotes for the securities from brokers. The single broker quotes are provided by market makers or broker-dealers who are recognized as market participants in the markets in which they are providing the quotes.  The prices received from brokers are reviewed for reasonableness by the third party asset managers and the Company.  If the broker quotes are for foreign denominated securities, the quotes are converted to U.S. dollars using currency exchange rates from nationally recognized sources.  Historically, most of the level 3 fixed maturities have resulted from new issuances and the third party prices services have not yet included the issuance in their data base.  Generally, in subsequent measurement periods, the issuances will be included in the data base and the fair value will transfer to level 2.

The composition and valuation inputs for the presented fixed maturities categories are as follows:

· U.S. Treasury securities and obligations of U.S. government agencies and corporations are primarily comprised of U.S. Treasury bonds and the fair value is based on observable market inputs such as quoted prices, reported trades, quoted prices for similar issuances or benchmark yields;

· Obligations of U.S. states and political subdivisions are comprised of state and municipal bond issuances and the fair values are based on observable market inputs such as quoted market prices, quoted prices for similar securities, benchmark yields and credit spreads;

· Corporate securities are primarily comprised of U.S. corporate and public utility bond issuances and the fair values are based on observable market inputs such as quoted market prices, quoted prices for similar securities, benchmark yields and credit spreads;

· Asset-backed and mortgage-backed securities fair values are based on observable inputs such as quoted prices, reported trades, quoted prices for similar issuances or benchmark yields and cash flow models using observable inputs such as prepayment speeds, collateral performance and default spreads;

· Foreign government securities are comprised of global non-U.S. sovereign bond issuances and the fair values are based on observable market inputs such as quoted market prices, quoted prices for similar securities and models with observable inputs such as benchmark yields and credit spreads and then, where applicable, converted to U.S. dollars using an exchange rate from a nationally recognized source;

· Foreign corporate securities are comprised of global non-U.S. corporate bond issuances and the fair values are based on observable market inputs such as quoted market prices, quoted prices for similar securities and models with observable inputs such as benchmark yields and credit spreads and then, where applicable, converted to U.S. dollars using an exchange rate from a nationally recognized source.

Other invested assets, at fair value, are categorized as Level 1, Quoted Prices in Active Markets for Identical Assets, since the securities are shares of the Company's parent, which are actively traded on an exchange and the price is based on a quoted price.

The following table presents the fair value measurement levels for all assets, which the Company has recorded at fair value (fair and market value) as of the period indicated:

			Fair Value Measurement Using:
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
(Dollars in thousands)	September 30, 2015		(Level 1)		(Level 2)		(Level 3)
Assets:
Fixed maturities, market value
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	227,444	$	-	$	227,444	$	-
Obligations of U.S. States and political subdivisions		714,279		-		714,279		-
Corporate securities		1,999,162		-		1,993,887		5,275
Asset-backed securities		132,461		-		132,461		-
Mortgage-backed securities
Commercial		64,521		-		64,521		-
Agency residential		726,035		-		726,035		-
Non-agency residential		168		-		168		-
Foreign government securities		464,707		-		464,707		-
Foreign corporate securities		1,055,585		-		1,049,460		6,125
Total fixed maturities, market value		5,384,362		-		5,372,962		11,400
Fixed maturities, fair value		-		-		-		-
Equity securities, market value		-		-		-		-
Equity securities, fair value		1,199,347		1,109,801		89,546		-
Other invested assets, fair value		1,684,860		1,684,860		-		-

There were no transfers between Level 1 and Level 2 for the nine months ended September 30, 2015.

The following table presents the fair value measurement levels for all assets, which the Company has recorded at fair value (fair and market value) as of the period indicated:

			Fair Value Measurement Using:
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
(Dollars in thousands)	December 31, 2014		(Level 1)		(Level 2)		(Level 3)
Assets:
Fixed maturities, market value
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	136,836	$	-	$	136,836	$	-
Obligations of U.S. States and political subdivisions		824,472		-		824,472		-
Corporate securities		1,978,935		-		1,978,935		-
Asset-backed securities		94,823		-		94,823		-
Mortgage-backed securities
Commercial		59,268		-		50,671		8,597
Agency residential		598,117		-		598,117		-
Non-agency residential		315		-		315		-
Foreign government securities		537,087		-		537,087		-
Foreign corporate securities		1,063,558		-		1,056,392		7,166
Total fixed maturities, market value		5,293,411		-		5,277,648		15,763
Fixed maturities, fair value		1,509		-		1,509		-
Equity securities, market value		16		16		-		-
Equity securities, fair value		1,299,037		1,188,613		110,424		-
Other invested assets, fair value		1,655,311		1,655,311		-		-

The following tables present the activity under Level 3, fair value measurements using significant unobservable inputs by asset type, for the periods indicated:

	Three Months Ended September 30, 2015									Nine Months Ended September 30, 2015
	Corporate			Foreign						Corporate						Foreign
(Dollars in thousands)	Securities			Corporate			Total			Securities			CMBS			Corporate			Total
Beginning balance	$	1,958		$	7,837		$	9,795		$	-		$	8,597		$	7,166		$	15,763
Total gains or (losses) (realized/unrealized)
Included in earnings		(6	)		62			56			(2	)		-			177			175
Included in other comprehensive income (loss)		(93	)		(1,287	)		(1,380	)		(95	)		-			(1,216	)		(1,311	)
Purchases, issuances and settlements		1,723			-			1,723			3,651			-			-			3,651
Transfers in and/or (out) of Level 3		1,693			(487	)		1,206			1,721			(8,597	)		(2	)		(6,878	)
Ending balance	$	5,275		$	6,125		$	11,400		$	5,275		$	-		$	6,125		$	11,400
The amount of total gains or losses for the period
included in earnings (or changes in net assets)
attributable to the change in unrealized gains
or losses relating to assets still held at the
reporting date	$	-		$	-		$	-		$	-		$	-		$	-		$	-
(Some amounts may not reconcile due to rounding.)

	Three Months Ended September 30, 2014														Nine Months Ended September 30, 2014
	Corporate		Asset-backed			Foreign			Non-agency						Corporate		Asset-backed			Foreign			Non-agency
(Dollars in thousands)	Securities		Securities			Corporate			RMBS			Total			Securities		Securities			Corporate			RMBS			Total
Beginning balance	$	-	$	2,528		$	-		$	4		$	2,532		$	-	$	3,533		$	481		$	4		$	4,018
Total gains or (losses) (realized/unrealized)
Included in earnings		-		1,235			-			2			1,237			-		1,291			18			3			1,312
Included in other comprehensive income (loss)		42		(284	)		(50	)		(3	)		(295	)		42		(191	)		(70	)		(3	)		(222	)
Purchases, issuances and settlements		1,274		17,898			3,614			(3	)		22,783			1,274		16,744			3,135			(4	)		21,149
Transfers in and/or (out) of Level 3		-		(1,101	)		-			-			(1,101	)		-		(1,101	)		-			-			(1,101	)
Ending balance	$	1,316	$	20,276		$	3,564		$	-		$	25,156		$	1,316	$	20,276		$	3,564		$	-		$	25,156
The amount of total gains or losses for the period
included in earnings (or changes in net assets)
attributable to the change in unrealized gains
or losses relating to assets still held at the
reporting date	$	-	$	-		$	-		$	-		$	-		$	-	$	-		$	-		$	-		$	-
(Some amounts may not reconcile due to rounding.)

The net transfers from level 3, fair value measurements using significant unobservable inputs, of $6,878 thousand and $1,101 thousand of investments for the nine months ended September 30, 2015 and September 30, 2014, respectively, primarily relate to securities that were priced using single non-binding broker quotes and were subsequently priced using a recognized pricing service and were then classified as level 2.

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Segment Reporting (Narrative) (Details)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting [Abstract]
Percentage threshold of company revenue not exceeded by any other country	5.00%	5.00%

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Related-Party Transactions (Loss Portfolio Transfer Reinsurance Agreements, Net Insurance Exposures And Reserves Were Transferred To An Affiliate) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015 USD ($)
Mt. McKinley [Member]
Related Party Transaction [Line Items]
Effective Date	Sep. 19, 2000
Assuming Company	Bermuda Re
% of Business Transfer	100.00%
Covered Period of Transfer	All years
Everest Re (Belgium Branch) [Member]
Related Party Transaction [Line Items]
Effective Date	Oct. 01, 2001
Assuming Company	Bermuda Re
% of Business Transfer	100.00%
Covered Period of Transfer	All years
Everest Re [Member]
Related Party Transaction [Line Items]
Effective Date	Oct. 01, 2008
Assuming Company	Bermuda Re
Amount of Business Transfer	$ 747,022
Covered Period of Transfer	01/01/2002-12/31/2007

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Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2015

Other Comprehensive Income (Loss) [Abstract]

Components Of Comprehensive Income (Loss) In The Consolidated Statements Of Operations

	Three Months Ended September 30, 2015									Nine Months Ended September 30, 2015
(Dollars in thousands)	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
Unrealized appreciation (depreciation) ("URA(D)") on securities - temporary	$	(45,240	)	$	15,347		$	(29,893	)	$	(84,958	)	$	28,749		$	(56,209	)
URA(D) on securities - OTTI		22			(7	)		15			9,757			(3,414	)		6,343
Reclassification of net realized losses (gains) included in net income (loss)		17,137			(5,512	)		11,625			73,793			(24,842	)		48,951
Foreign currency translation adjustments		(42,266	)		14,793			(27,473	)		(68,670	)		24,034			(44,636	)
Benefit plan actuarial net gain (loss)		-			-			-			-			-			-
Reclassification of amortization of net gain (loss) included in net income (loss)		2,393			(837	)		1,556			7,336			(2,567	)		4,769
Total other comprehensive income (loss)	$	(67,954	)	$	23,784		$	(44,170	)	$	(62,742	)	$	21,960		$	(40,782	)
(Some amounts may not reconcile due to rounding)

	Three Months Ended September 30, 2014									Nine Months Ended September 30, 2014
(Dollars in thousands)	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
Unrealized appreciation (depreciation) ("URA(D)") on securities - temporary	$	(40,339	)	$	14,118		$	(26,221	)	$	21,234		$	(7,556	)	$	13,678
URA(D) on securities - OTTI		-			-			-			-			-			-
Reclassification of net realized losses (gains) included in net income (loss)		(1,070	)		374			(696	)		2,054			(595	)		1,459
Foreign currency translation adjustments		(11,496	)		4,024			(7,472	)		(13,211	)		4,624			(8,587	)
Benefit plan actuarial net gain (loss)		-			-			-			-			-			-
Reclassification of amortization of net gain (loss) included in net income (loss)		1,269			(444	)		825			3,640			(1,274	)		2,366
Total other comprehensive income (loss)	$	(51,636	)	$	18,072		$	(33,564	)	$	13,717		$	(4,801	)	$	8,916
(Some amounts may not reconcile due to rounding)

Reclassification From Accumulated Other Comprehensive Income

	Three Months Ended						Nine Months Ended
	September 30,						September 30,						Affected line item within the statements of
AOCI component	2015			2014			2015			2014			operations and comprehensive income (loss)
(Dollars in thousands)
URA(D) on securities	$	17,137		$	(1,070	)	$	73,793		$	2,054		Other net realized capital gains (losses)
		(5,512	)		374			(24,842	)		(595	)	Income tax expense (benefit)
	$	11,625		$	(696	)	$	48,951		$	1,459		Net income (loss)
Benefit plan net gain (loss)	$	2,393		$	1,269		$	7,336		$	3,640		Other underwriting expenses
		(837	)		(444	)		(2,567	)		(1,274	)	Income tax expense (benefit)
	$	1,556		$	825		$	4,769		$	2,366		Net income (loss)
(Some amounts may not reconcile due to rounding)

Components Of Accumulated Other Comprehensive Income (Loss), Net Of Tax, In The Consolidated Balance Sheets

	Nine Months Ended			Twelve Months Ended
	September 30,			December 31,
(Dollars in thousands)	2015			2014
Beginning balance of URA (D) on securities	$	37,628		$	55,457
Current period change in URA (D) of investments - temporary		(7,258	)		(11,501	)
Current period change in URA (D) of investments - non-credit OTTI		6,343			(6,328	)
Ending balance of URA (D) on securities		36,713			37,628
Beginning balance of foreign currency translation adjustments		41,877			71,087
Current period change in foreign currency translation adjustments		(44,636	)		(29,210	)
Ending balance of foreign currency translation adjustments		(2,759	)		41,877
Beginning balance of benefit plan net gain (loss)		(74,986	)		(38,896	)
Current period change in benefit plan net gain (loss)		4,769			(36,090	)
Ending balance of benefit plan net gain (loss)		(70,217	)		(74,986	)
Ending balance of accumulated other comprehensive income (loss)	$	(36,263	)	$	4,519

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Subsequent Events (Details) - Subsequent Events [Member] $ in Thousands	1 Months Ended
	Nov. 13, 2015 USD ($) item
Subsequent Event [Line Items]
Number Of Collateralized Reinsurance Agreements	2
Number of classes	2
Ceded Premiums Written | $	$ 625,000

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Investments (Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Security Type) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	$ 1,223,976	$ 1,237,220
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(58,072)	(72,254)
Available for sale securities, Greater than 12 months, Market Value	634,866	654,926
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(27,101)	(18,204)
Available-for-sale Securities, Market Value, Total	1,858,842	1,892,146
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(85,173)	(90,458)
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	1,223,976	1,237,220
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(58,072)	(72,254)
Available for sale securities, Greater than 12 months, Market Value	634,866	654,926
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(27,101)	(18,204)
Available-for-sale Securities, Market Value, Total	1,858,842	1,892,146
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(85,173)	(90,458)
U.S. Treasury Securities And Obligations Of U.S. Government Agencies And Corporations [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	201	13,187
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(1)	(20)
Available for sale securities, Greater than 12 months, Market Value	1,844	26,897
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(68)	(284)
Available-for-sale Securities, Market Value, Total	2,045	40,084
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(69)	(304)
Obligations of US States and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	20,162	20,428
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(316)	(242)
Available for sale securities, Greater than 12 months, Market Value	35,460	18,199
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(1,208)	(384)
Available-for-sale Securities, Market Value, Total	55,622	38,627
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(1,524)	(626)
Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	647,568	830,928
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(34,098)	(48,891)
Available for sale securities, Greater than 12 months, Market Value	291,894	171,207
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(14,525)	(4,328)
Available-for-sale Securities, Market Value, Total	939,462	1,002,135
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(48,623)	(53,219)
Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	49,224	62,451
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(203)	$ (374)
Available for sale securities, Greater than 12 months, Market Value	8,601
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(29)
Available-for-sale Securities, Market Value, Total	57,825	$ 62,451
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(232)	(374)
Commercial Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	6,003	11,742
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(55)	$ (51)
Available for sale securities, Greater than 12 months, Market Value
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation
Available-for-sale Securities, Market Value, Total	6,003	$ 11,742
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(55)	(51)
Agency Residential [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	97,964	24,230
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(762)	(59)
Available for sale securities, Greater than 12 months, Market Value	157,863	267,824
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(1,544)	(4,661)
Available-for-sale Securities, Market Value, Total	255,827	292,054
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(2,306)	(4,720)
Foreign Government Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	115,876	45,521
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(3,827)	(913)
Available for sale securities, Greater than 12 months, Market Value	66,812	53,086
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(5,831)	(4,431)
Available-for-sale Securities, Market Value, Total	182,688	98,607
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(9,658)	(5,344)
Foreign Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	286,978	228,733
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(18,810)	(21,704)
Available for sale securities, Greater than 12 months, Market Value	72,392	117,713
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(3,896)	(4,116)
Available-for-sale Securities, Market Value, Total	359,370	346,446
Available-for-sale Securities, Gross Unrealized Depreciation, Total	$ (22,706)	$ (25,820)

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Retirement Benefits

9 Months Ended

Sep. 30, 2015

Retirement Benefits [Abstract]

Retirement Benefits

14.RETIREMENT BENEFITS

The Company maintains both qualified and non-qualified defined benefit pension plans and a retiree health plan for its U.S. employees employed prior to April 1, 2010.

Net periodic benefit cost for U.S. employees included the following components for the periods indicated:

Pension Benefits	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2015			2014			2015			2014
Service cost	$	3,203		$	2,460		$	9,398		$	7,381
Interest cost		2,758			2,542			7,926			7,625
Expected return on plan assets		(2,904	)		(2,822	)		(8,710	)		(8,468	)
Amortization of prior service cost		4			13			15			38
Amortization of net (income) loss		2,312			1,173			6,824			3,356
FAS 88 settlement charge		-			5,269			-			5,269
Net periodic benefit cost	$	5,373		$	8,635		$	15,453		$	15,201

Other Benefits	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2015		2014		2015		2014
Service cost	$	498	$	407	$	1,498	$	1,221
Interest cost		329		342		987		1,026
Amortization of net (income) loss		76		82		497		246
Net periodic benefit cost	$	903	$	831	$	2,982	$	2,493

The Company did not make any contributions to the qualified pension benefit plan for the three and nine months ended September 30, 2015 and 2014.