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: June 30, 2017 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, a smaller reporting company or an emerging growth company.  See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth 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)		Emerging  growth company

Indicate by check mark if the registrant is an emerging growth company and has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange act.

YES NO X

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 August 1, 2017
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 June 30, 2017 (unaudited) and
		December 31, 2016	1
	Consolidated Statements of Operations and Comprehensive Income (Loss) for the
		three and six months ended June 30, 2017 and 2016 (unaudited)	2
	Consolidated Statements of Changes in Stockholder's Equity for the three and
		six months ended June 30, 2017 and 2016 (unaudited)	3
	Consolidated Statements of Cash Flows for the six months ended
		June 30, 2017 and 2016 (unaudited)	4
	Notes to Consolidated Interim Financial Statements (unaudited)		5
Item 2.	Management's Discussion and Analysis of Financial Condition and
		Results of Operation	32
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		48
Item 4.	Controls and Procedures		48

PART II

OTHER INFORMATION

Item 1.	Legal Proceedings	48
Item 1A.	Risk Factors	49
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	49
Item 3.	Defaults Upon Senior Securities	49
Item 4.	Mine Safety Disclosures	49
Item 5.	Other Information	49
Item 6.	Exhibits	50

EVEREST REINSURANCE HOLDINGS, INC.

CONSOLIDATED BALANCE SHEETS

	June 30,			December 31,
(Dollars in thousands, except par value per share)	2017			2016
	(unaudited)
ASSETS:
Fixed maturities - available for sale, at market value	$	6,140,028		$	5,970,496
(amortized cost: 2017, $6,071,568; 2016, $5,910,494)
Equity securities - available for sale, at fair value		934,110			887,800
Short-term investments		176,405			306,286
Other invested assets (cost: 2017, 773,322; 2016, $613,680)		774,646			613,740
Other invested assets, at fair value		1,724,532			1,766,626
Cash		242,565			297,794
Total investments and cash		9,992,286			9,842,742
Note receivable - affiliated		250,000			250,000
Accrued investment income		43,799			45,323
Premiums receivable		1,343,051			1,128,639
Reinsurance receivables - unaffiliated		893,608			887,657
Reinsurance receivables - affiliated		3,798,963			3,686,130
Funds held by reinsureds		193,800			190,421
Deferred acquisition costs		48,827			68,621
Prepaid reinsurance premiums		965,909			781,384
Other assets		231,416			202,519
TOTAL ASSETS	$	17,761,659		$	17,083,436
LIABILITIES:
Reserve for losses and loss adjustment expenses	$	8,286,599		$	8,331,288
Unearned premium reserve		1,424,957			1,312,386
Funds held under reinsurance treaties		116,397			110,836
Losses in the course of payment		333,262			82,915
Commission reserves		39,236			52,037
Other net payable to reinsurers		906,305			815,298
4.868% Senior notes due 6/1/2044		396,774			396,714
6.6% Long term notes due 5/1/2067		236,511			236,462
Accrued interest on debt and borrowings		2,632			3,537
Income taxes		173,693			148,940
Unsettled securities payable		46,183			27,121
Other liabilities		276,316			267,349
Total liabilities		12,238,865			11,784,883
Commitments and Contingencies (Note 7)
STOCKHOLDER'S EQUITY:
Common stock, par value: $0.01; 3,000 shares authorized;
1,000 shares issued and outstanding (2017 and 2016)		-			-
Additional paid-in capital		387,705			387,567
Accumulated other comprehensive income (loss), net of deferred income tax expense
(benefit) of ($9,175) at 2017 and ($19,549) at 2016		(17,048	)		(36,315	)
Retained earnings		5,152,137			4,947,301
Total stockholder's equity		5,522,794			5,298,553
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$	17,761,659		$	17,083,436
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						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
	(unaudited)						(unaudited)
REVENUES:
Premiums earned	$	468,197		$	488,855		$	939,252		$	970,780
Net investment income		71,900			73,872			132,749			132,317
Net realized capital gains (losses):
Other-than-temporary impairments on fixed maturity securities		(1,574	)		(1,391	)		(2,706	)		(24,406	)
Other-than-temporary impairments on fixed maturity securities
transferred to other comprehensive income (loss)		-			-			-			-
Other net realized capital gains (losses)		(90,717	)		30,556			28,183			(12,806	)
Total net realized capital gains (losses)		(92,291	)		29,165			25,477			(37,212	)
Other income (expense)		10,655			(10,700	)		20,510			2,402
Total revenues		458,461			581,192			1,117,988			1,068,287
CLAIMS AND EXPENSES:
Incurred losses and loss adjustment expenses		297,228			338,536			586,950			634,598
Commission, brokerage, taxes and fees		60,513			70,409			113,020			136,774
Other underwriting expenses		64,197			58,330			124,092			117,557
Corporate expenses		1,512			2,010			5,109			4,346
Interest, fee and bond issue cost amortization expense		7,954			8,858			16,813			17,717
Total claims and expenses		431,404			478,143			845,984			910,992
INCOME (LOSS) BEFORE TAXES		27,057			103,049			272,004			157,295
Income tax expense (benefit)		(8,601	)		33,677			67,168			46,933
NET INCOME (LOSS)	$	35,658		$	69,372		$	204,836		$	110,362
Other comprehensive income (loss), net of tax:
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period		3,825			39,264			13,264			58,864
Less: reclassification adjustment for realized losses (gains) included in net income (loss)		(3,477	)		(63	)		(6,944	)		25,852
Total URA(D) on securities arising during the period		348			39,201			6,320			84,716
Foreign currency translation adjustments		5,372			15,489			8,939			30,421
Benefit plan actuarial net gain (loss) for the period		-			-			-			-
Reclassification adjustment for amortization of net (gain) loss included in net income (loss)		2,004			1,341			4,008			2,681
Total benefit plan net gain (loss) for the period		2,004			1,341			4,008			2,681
Total other comprehensive income (loss), net of tax		7,724			56,031			19,267			117,818
COMPREHENSIVE INCOME (LOSS)	$	43,382		$	125,403		$	224,103		$	228,180
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						Six Months Ended
	June 30,						June 30,
(Dollars in thousands, except share amounts)	2017			2016			2017			2016
	(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	$	387,637		$	379,582		$	387,567		$	374,789
Share-based compensation plans		68			2,955			138			7,748
Balance, end of period		387,705			382,537			387,705			382,537
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS),
NET OF DEFERRED INCOME TAXES:
Balance, beginning of period		(24,772	)		(349	)		(36,315	)		(62,136	)
Net increase (decrease) during the period		7,724			56,031			19,267			117,818
Balance, end of period		(17,048	)		55,682			(17,048	)		55,682
RETAINED EARNINGS:
Balance, beginning of period		5,116,479			4,686,647			4,947,301			4,645,657
Net income (loss)		35,658			69,372			204,836			110,362
Balance, end of period		5,152,137			4,756,019			5,152,137			4,756,019
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	5,522,794		$	5,194,238		$	5,522,794		$	5,194,238
The accompanying notes are an integral part of the consolidated financial statements.

3

EVEREST REINSURANCE HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Six Months Ended
	June 30,
(Dollars in thousands)	2017			2016
	(unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	204,836		$	110,362
Adjustments to reconcile net income to net cash provided by operating activities:
Decrease (increase) in premiums receivable		(213,530	)		13,635
Decrease (increase) in funds held by reinsureds, net		2,353			(3,111	)
Decrease (increase) in reinsurance receivables		(115,273	)		(9,694	)
Decrease (increase) in income taxes		14,411			9,279
Decrease (increase) in prepaid reinsurance premiums		(184,385	)		24,418
Increase (decrease) in reserve for losses and loss adjustment expenses		(55,590	)		257,415
Increase (decrease) in unearned premiums		111,848			(89,903	)
Increase (decrease) in other net payable to reinsurers		89,702			(373,353	)
Increase (decrease) in losses in course of payment		250,153			1,813
Change in equity adjustments in limited partnerships		(8,728	)		(11,352	)
Distribution of limited partnership income		12,483			22,822
Change in other assets and liabilities, net		(10,031	)		13,152
Non-cash compensation expense		5,186			5,433
Amortization of bond premium (accrual of bond discount)		9,107			8,972
Amortization of underwriting discount on senior notes		2			2
Net realized capital (gains) losses		(25,477	)		37,212
Net cash provided by (used in) operating activities		87,067			17,102
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from fixed maturities matured/called - available for sale, at market value		555,649			368,179
Proceeds from fixed maturities sold - available for sale, at market value		652,490			296,888
Proceeds from fixed maturities sold - available for sale, at fair value		-			1,587
Proceeds from equity securities sold - available for sale, at fair value		249,653			421,980
Distributions from other invested assets		1,018,997			696,889
Cost of fixed maturities acquired - available for sale, at market value		(1,348,415	)		(923,755	)
Cost of equity securities acquired - available for sale, at fair value		(237,894	)		(180,406	)
Cost of other invested assets acquired		(1,182,157	)		(862,717	)
Net change in short-term investments		130,362			178,128
Net change in unsettled securities transactions		6,648			36,119
Net cash provided by (used in) investing activities		(154,667	)		32,892
CASH FLOWS FROM FINANCING ACTIVITIES:
Tax benefit from share-based compensation		(5,048	)		2,315
Net cash provided by (used in) financing activities		(5,048	)		2,315
EFFECT OF EXCHANGE RATE CHANGES ON CASH		17,419			22,189
Net increase (decrease) in cash		(55,229	)		74,498
Cash, beginning of period		297,794			155,429
Cash, end of period	$	242,565		$	229,927
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid (recovered)	$	52,641		$	35,375
Interest paid		17,608			17,608
The accompanying notes are an integral part of the consolidated financial statements.

4

NOTES TO CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED)

For the Three and Six Months Ended June 30, 2017 and 2016

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) and the "Company" means Holdings and its subsidiaries.

During the third quarter of 2016, the Company established domestic subsidiaries, Everest Premier Insurance Company ("Everest Premier") and Everest Denali Insurance Company ("Everest Denali"), which will be used in the continued expansion of the Insurance operations.

Effective August 24, 2016, the Company sold its wholly-owned subsidiary, Heartland Crop Insurance Company ("Heartland"), a managing agent for crop insurance, to CGB Diversified Services, Inc. ("CGB"). The operating results of Heartland for the period owned are included within the Company's financial statements.

2.BASIS OF PRESENTATION

The unaudited consolidated financial statements of the Company for the three and six months ended June 30, 2017 and 2016 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, 2016 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 six months ended June 30, 2017 and 2016 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, 2016, 2015 and 2014 included in the Company's most recent Form 10-K filing.

All intercompany accounts and transactions have been eliminated.

Certain reclassifications and format changes have been made to prior years' amounts to conform to the 2017 presentation.

Application of Recently Issued Accounting Standard Changes.

Disclosures about Short-Duration Contracts. In May 2015, the FASB issued ASU 2015-09, authoritative guidance regarding required disclosures associated with short duration insurance contracts.  The new disclosure requirements focus on information about initial claim estimates and subsequent claim estimate adjustment, methodologies in estimating claims and the timing, frequency and severity of claims related to short duration insurance contracts. This guidance is effective for annual reporting periods beginning after December 15, 2015 and interim reporting periods beginning after December 15, 2016. The Company implemented this guidance in the fourth quarter of 2016.

Disclosures for Investments in Certain Entities that Calculate Net Asset Value Per Share.  In May 2015, the FASB issued ASU 2015-07, which removes the requirement to categorize, within the fair value hierarchy, investments for which fair values are estimated using the net asset value practical expedient provided by Accounting Standards Codification 820, Fair Value Measurement.  The updated guidance is effective for annual reporting periods beginning after December 15, 2015.  The adoption did not have a material impact on the Company's financial statements.

5

Debt Issuance Costs. In April 2015, The FASB issued ASU 2015–03, authoritative guidance on the presentation of debt issuance costs.  This guidance requires that debt issuance costs be presented within the balance sheet as a reduction of the carrying value of the debt liability, rather than as a separate asset.  This guidance is effective for annual reporting periods beginning after December 15, 2015 and related interim reporting periods.  The Company implemented this guidance effective in the second quarter of 2016.  This adoption did not have any material impact on the Company's financial statements.

Consolidation. In February 2015, the FASB issued ASU 2015-02, authoritative guidance regarding consolidation of reporting entities.  The new guidance focuses on the required evaluation of whether certain legal entities should be consolidated.  This guidance is effective for annual and interim reporting periods beginning after December 15, 2015.  The adoption did not have a material impact on the Company's financial statements.

3.  REVISIONS TO FINANCIAL STATEMENTS

In preparing its current period financial statements, the Company altered its processing of ceding certain commissions and deferred acquisition costs under an affiliated quota share agreement.  In previous reporting periods, these expenses were ceded based upon a quarter lag. In the current period, the quarter lag was eliminated and these expenses are now recorded on a current quarter basis.  Although management determined that the impact of the ceding lag was not material to prior period financial statements, the impact of eliminating the ceding lag would have significantly impacted results within the current period.  As a result, prior period balances have been revised in the applicable financial statements and corresponding footnotes to eliminate the impact of the previous recording lag.

Management assessed the materiality of this change within prior period financial statements based upon SEC Staff Accounting Bulletin Number 99, Materiality, which is since codified in Accounting Standards Codification ("ASC") 250, Accounting Changes and Error Corrections.  In accordance with ASC 250, the prior period comparative financial statements that are presented herein have been revised.

The following tables present line items for prior period financial statements that have been affected by the revision. For these line items, the tables detail the amounts as previously reported, the impact upon those line items due to the revision, and the amounts as currently revised within the financial statements.

CONSOLIDATED BALANCE SHEETS	March 31, 2017
	As Previously		Impact of
	Reported		Revisions			As Revised
(Dollars in thousands, except par value per share)
ASSETS:
Deferred acquisition costs	$	62,308	$	(4,994	)	$	57,314
TOTAL ASSETS	$	17,587,840	$	(4,994	)	$	17,582,846
LIABILITIES:
Other net payable to reinsurers	$	832,307	$	(41,746	)	$	790,561
Income taxes		223,629		5,625			229,254
Total liabilities		12,139,623		(36,121	)		12,103,502
STOCKHOLDERS EQUITY:
Retained earnings		5,085,352		31,127			5,116,479
Total stockholder's equity		5,448,217		31,127			5,479,344
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$	17,587,840	$	(4,994	)	$	17,582,846

6

CONSOLIDATED BALANCE SHEETS	December 31, 2016							December 31, 2015
	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands, except par value per share)
ASSETS:
Deferred acquisition costs	$	73,924	$	(5,303	)	$	68,621	$	92,651	$	(6,249	)	$	86,402
TOTAL ASSETS	$	17,088,739	$	(5,303	)	$	17,083,436	$	16,695,203	$	(6,249	)	$	16,688,954
LIABILITIES:
Other net payable to reinsurers	$	860,391	$	(45,093	)	$	815,298	$	1,225,260	$	(37,480	)	$	1,187,780
Income taxes		142,143		6,797			148,940		68,024		4,132			72,156
Total liabilities		11,823,179		(38,296	)		11,784,883		11,763,992		(33,348	)		11,730,644
STOCKHOLDERS EQUITY:
Retained earnings		4,914,308		32,993			4,947,301		4,618,558		27,099			4,645,657
Total stockholder's equity		5,265,560		32,993			5,298,553		4,931,211		27,099			4,958,310
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$	17,088,739	$	(5,303	)	$	17,083,436	$	16,695,203	$	(6,249	)	$	16,688,954

CONSOLIDATED STATEMENTS OF OPERATIONS	Year Ended December 31, 2016							Year Ended December 31, 2015
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	289,982	$	(8,558	)	$	281,424	$	315,069	$	(2,744	)	$	312,325
Total claims and expenses		1,928,940		(8,558	)		1,920,382		1,892,062		(2,744	)		1,889,318
INCOME (LOSS) BEFORE TAXES		390,433		8,558			398,991		604,542		2,744			607,286
Income tax expense (benefit)		94,683		2,664			97,347		191,889		3,007			194,896
NET INCOME (LOSS)	$	295,750	$	5,894		$	301,644	$	412,653	$	(263	)	$	412,390
COMPREHENSIVE INCOME (LOSS)	$	321,571	$	5,894		$	327,465	$	345,998	$	(263	)	$	345,735

CONSOLIDATED STATEMENTS OF OPERATIONS	Year Ended December 31, 2014							Three Months Ended March 31, 2017
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	339,402	$	(427	)	$	338,975	$	49,470	$	3,037		$	52,507
Total claims and expenses		1,930,749		(427	)		1,930,322		411,543		3,037			414,580
INCOME (LOSS) BEFORE TAXES		657,688		427			658,115		247,984		(3,037	)		244,947
Income tax expense (benefit)		203,562		1,125			204,687		76,940		(1,171	)		75,769
NET INCOME (LOSS)	$	454,126	$	(698	)	$	453,428	$	171,044	$	(1,866	)	$	169,178
COMPREHENSIVE INCOME (LOSS)	$	370,997	$	(698	)	$	370,299	$	182,587	$	(1,866	)	$	180,721

7

CONSOLIDATED STATEMENTS OF OPERATIONS	Three Months Ended September 30, 2016							Nine Months Ended September 30, 2016
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	85,563	$	(2,785	)	$	82,778	$	226,511	$	(6,959	)	$	219,552
Total claims and expenses		462,009		(2,785	)		459,224		1,377,175		(6,959	)		1,370,216
INCOME (LOSS) BEFORE TAXES		95,943		2,785			98,728		249,064		6,959			256,023
Income tax expense (benefit)		21,145		1,280			22,425		66,990		2,368			69,358
NET INCOME (LOSS)	$	74,798	$	1,505		$	76,303	$	182,074	$	4,591		$	186,665
COMPREHENSIVE INCOME (LOSS)	$	74,465	$	1,505		$	75,970	$	299,559	$	4,591		$	304,150

CONSOLIDATED STATEMENTS OF OPERATIONS	Three Months Ended June 30, 2016							Six Months Ended June 30, 2016
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	72,126	$	(1,717	)	$	70,409	$	140,948	$	(4,174	)	$	136,774
Total claims and expenses		479,860		(1,717	)		478,143		915,166		(4,174	)		910,992
INCOME (LOSS) BEFORE TAXES		101,332		1,717			103,049		153,121		4,174			157,295
Income tax expense (benefit)		32,982		695			33,677		45,845		1,088			46,933
NET INCOME (LOSS)	$	68,350	$	1,022		$	69,372	$	107,276	$	3,086		$	110,362
COMPREHENSIVE INCOME (LOSS)	$	124,381	$	1,022		$	125,403	$	225,094	$	3,086		$	228,180

CONSOLIDATED STATEMENTS OF OPERATIONS	Three Months Ended March 31, 2016
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of
	Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	68,822	$	(2,457	)	$	66,365
Total claims and expenses		435,306		(2,457	)		432,849
INCOME (LOSS) BEFORE TAXES		51,789		2,457			54,246
Income tax expense (benefit)		12,863		393			13,256
NET INCOME (LOSS)	$	38,926	$	2,064		$	40,990
COMPREHENSIVE INCOME (LOSS)	$	100,713	$	2,064		$	102,777

CONSOLIDATED STATEMENTS OF	Year Ended December 31, 2016						Year Ended December 31, 2015
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of				As Previously		Impact of
	Reported		Revisions		As Revised		Reported		Revisions			As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	4,618,558	$	27,099	$	4,645,657	$	4,205,905	$	27,362		$	4,233,267
Net income (loss)		295,750		5,894		301,644		412,653		(263	)		412,390
Balance, end of period		4,914,308		32,993		4,947,301		4,618,558		27,099			4,645,657
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	5,265,560	$	32,993	$	5,298,553	$	4,931,211	$	27,099		$	4,958,310

8

CONSOLIDATED STATEMENTS OF	Year Ended December 31, 2014							Three Months Ended March 31, 2017
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	3,751,779	$	28,060		$	3,779,839	$	4,914,308	$	32,993		$	4,947,301
Net income (loss)		454,126		(698	)		453,428		171,044		(1,866	)		169,178
Balance, end of period		4,205,905		27,362			4,233,267		5,085,352		31,127			5,116,479
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	4,572,717	$	27,362		$	4,600,079	$	5,448,217	$	31,127		$	5,479,344

CONSOLIDATED STATEMENTS OF	Three Months Ended September 30, 2016						Nine Months Ended September 30, 2016
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of				As Previously		Impact of
	Reported		Revisions		As Revised		Reported		Revisions		As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	4,725,834	$	30,185	$	4,756,019	$	4,618,558	$	27,099	$	4,645,657
Net income (loss)		74,798		1,505		76,303		182,074		4,591		186,665
Balance, end of period		4,800,632		31,690		4,832,322		4,800,632		31,690		4,832,322
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	5,240,955	$	31,690	$	5,272,645	$	5,240,955	$	31,690	$	5,272,645

CONSOLIDATED STATEMENTS OF	Three Months Ended June 30, 2016						Six Months Ended June 30, 2016
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of				As Previously		Impact of
	Reported		Revisions		As Revised		Reported		Revisions		As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	4,657,484	$	29,163	$	4,686,647	$	4,618,558	$	27,099	$	4,645,657
Net income (loss)		68,350		1,022		69,372		107,276		3,086		110,362
Balance, end of period		4,725,834		30,185		4,756,019		4,725,834		30,185		4,756,019
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	5,164,053	$	30,185	$	5,194,238	$	5,164,053	$	30,185	$	5,194,238

CONSOLIDATED STATEMENTS OF	Three Months Ended March 31, 2016
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of
	Reported		Revisions		As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	4,618,558	$	27,099	$	4,645,657
Net income (loss)		38,926		2,064		40,990
Balance, end of period		4,657,484		29,163		4,686,647
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	5,036,717	$	29,163	$	5,065,880

CONSOLIDATED STATEMENTS OF CASH FLOWS	Year Ended December 31, 2016									Year Ended December 31, 2015
	As Previously			Impact of						As Previously		Impact of
	Reported			Revisions			As Revised			Reported		Revisions			As Revised
(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	295,750		$	5,894		$	301,644		$	412,653	$	(263	)	$	412,390
Decrease (increase) in income taxes		60,325			2,666			62,991			57,487		3,007			60,494
Increase (decrease) in other net payable to reinsurers		(364,242	)		(7,614	)		(371,856	)		204,526		(8,590	)		195,936
Change in other assets and liabilities, net		16,090			(946	)		15,144			7,499		5,846			13,345

9

CONSOLIDATED STATEMENTS OF CASH FLOWS	Year Ended December 31, 2014							Three Months Ended March 31, 2017
	As Previously		Impact of					As Previously			Impact of
	Reported		Revisions			As Revised		Reported			Revisions			As Revised
(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	454,126	$	(698	)	$	453,428	$	171,044		$	(1,866	)	$	169,178
Decrease (increase) in income taxes		68,206		1,125			69,331		75,304			(1,172	)		74,132
Increase (decrease) in other net payable to reinsurers		5,130		(3,216	)		1,914		(30,525	)		3,347			(27,178	)
Change in other assets and liabilities, net		81,388		2,789			84,177		18,204			(309	)		17,895

CONSOLIDATED STATEMENTS OF CASH FLOWS	Nine Months Ended September 30, 2016									Six Months Ended June 30, 2016
	As Previously			Impact of						As Previously			Impact of
	Reported			Revisions			As Revised			Reported			Revisions			As Revised
(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	182,074		$	4,591		$	186,665		$	107,276		$	3,086		$	110,362
Decrease (increase) in income taxes		33,279			2,368			35,647			8,190			1,089			9,279
Increase (decrease) in other net payable to reinsurers		(209,260	)		(6,764	)		(216,024	)		(370,242	)		(3,111	)		(373,353	)
Change in other assets and liabilities, net		(124,955	)		(195	)		(125,150	)		14,216			(1,064	)		13,152

CONSOLIDATED STATEMENTS OF CASH FLOWS	Three Months Ended March 31, 2016
	As Previously			Impact of
	Reported			Revisions			As Revised
(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	38,926		$	2,064		$	40,990
Decrease (increase) in income taxes		6,546			393			6,939
Increase (decrease) in other net payable to reinsurers		(106,588	)		(1,122	)		(107,710	)
Change in other assets and liabilities, net		24,496			(1,335	)		23,161

4.  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 June 30, 2017
	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	$	667,000	$	2,961	$	(3,184	)	$	666,777	$	-
Obligations of U.S. states and political subdivisions		679,940		22,970		(6,127	)		696,783		-
Corporate securities		2,274,212		40,765		(13,976	)		2,301,001		908
Asset-backed securities		189,598		433		(42	)		189,989		-
Mortgage-backed securities
Commercial		73,127		507		(389	)		73,245		-
Agency residential		688,735		2,163		(7,217	)		683,681		-
Non-agency residential		61		9		-			70		-
Foreign government securities		489,750		20,205		(8,568	)		501,387		-
Foreign corporate securities		1,009,145		28,358		(10,408	)		1,027,095		319
Total fixed maturity securities	$	6,071,568	$	118,371	$	(49,911	)	$	6,140,028	$	1,227

10

	At December 31, 2016
	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	$	693,005	$	2,509	$	(4,434	)	$	691,080	$	-
Obligations of U.S. states and political subdivisions		723,938		18,016		(11,970	)		729,984		-
Corporate securities		2,119,324		50,665		(15,786	)		2,154,203		4,868
Asset-backed securities		136,826		330		(129	)		137,027		-
Mortgage-backed securities
Commercial		75,435		510		(452	)		75,493		-
Agency residential		721,772		2,365		(8,993	)		715,144		-
Non-agency residential		76		12		-			88		-
Foreign government securities		495,572		22,088		(10,383	)		507,277		-
Foreign corporate securities		944,546		30,015		(14,361	)		960,200		175
Total fixed maturity securities	$	5,910,494	$	126,510	$	(66,508	)	$	5,970,496	$	5,043

^(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 June 30, 2017				At December 31, 2016
	Amortized		Market		Amortized		Market
(Dollars in thousands)	Cost		Value		Cost		Value
Fixed maturity securities – available for sale
Due in one year or less	$	438,873	$	439,218	$	394,401	$	392,824
Due after one year through five years		2,912,173		2,932,487		2,925,786		2,955,325
Due after five years through ten years		1,043,485		1,063,492		879,762		894,166
Due after ten years		725,516		757,846		776,436		800,429
Asset-backed securities		189,598		189,989		136,826		137,027
Mortgage-backed securities
Commercial		73,127		73,245		75,435		75,493
Agency residential		688,735		683,681		721,772		715,144
Non-agency residential		61		70		76		88
Total fixed maturity securities	$	6,071,568	$	6,140,028	$	5,910,494	$	5,970,496

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						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Increase (decrease) during the period between the market value and cost
of investments carried at market value, and deferred taxes thereon:
Fixed maturity securities	$	32		$	53,863		$	12,274		$	123,689
Fixed maturity securities, other-than-temporary impairment		(317	)		6,446			(3,816	)		6,643
Other invested assets		821			-			1,265			-
Change in unrealized  appreciation (depreciation), pre-tax		536			60,309			9,723			130,332
Deferred tax benefit (expense)		(299	)		(18,852	)		(4,739	)		(43,291	)
Deferred tax benefit (expense), other-than-temporary impairment		111			(2,256	)		1,336			(2,325	)
Change in unrealized appreciation (depreciation),
net of deferred taxes, included in stockholder's equity	$	348		$	39,201		$	6,320		$	84,716

11

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.

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 June 30, 2017 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	$	261,624	$	(3,184	)	$	-	$	-		$	261,624	$	(3,184	)
Obligations of U.S. states and political subdivisions		157,890		(6,127	)		-		-			157,890		(6,127	)
Corporate securities		528,750		(10,097	)		68,699		(3,879	)		597,449		(13,976	)
Asset-backed securities		56,504		(39	)		2,525		(3	)		59,029		(42	)
Mortgage-backed securities
Commercial		13,797		(317	)		2,991		(72	)		16,788		(389	)
Agency residential		445,347		(5,091	)		82,351		(2,126	)		527,698		(7,217	)
Non-agency residential		-		-			-		-			-		-
Foreign government securities		177,440		(2,308	)		56,133		(6,260	)		233,573		(8,568	)
Foreign corporate securities		201,847		(2,108	)		73,620		(8,300	)		275,467		(10,408	)
Total fixed maturity securities	$	1,843,199	$	(29,271	)	$	286,319	$	(20,640	)	$	2,129,518	$	(49,911	)

12

	Duration of Unrealized Loss at June 30, 2017 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	$	157,063	$	(277	)	$	18,588	$	(3,005	)	$	175,651	$	(3,282	)
Due in one year through five years		709,510		(9,577	)		147,334		(13,549	)		856,844		(23,126	)
Due in five years through ten years		297,303		(7,601	)		32,309		(1,879	)		329,612		(9,480	)
Due after ten years		163,675		(6,369	)		221		(6	)		163,896		(6,375	)
Asset-backed securities		56,504		(39	)		2,525		(3	)		59,029		(42	)
Mortgage-backed securities		459,144		(5,408	)		85,342		(2,198	)		544,486		(7,606	)
Total fixed maturity securities	$	1,843,199	$	(29,271	)	$	286,319	$	(20,640	)	$	2,129,518	$	(49,911	)

The aggregate market value and gross unrealized losses related to investments in an unrealized loss position at June 30, 2017 were $2,129,518 thousand and $49,911 thousand, respectively.  The market value of securities for the single issuer whose securities comprised the largest unrealized loss position at June 30, 2017, (the U.S. Government) did not exceed 5% 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 $29,271 thousand of unrealized losses related to fixed maturity securities that have been in an unrealized loss position for less than one year were generally comprised of obligations of domestic corporate securities, agency residential mortgage-backed securities and U.S. states and political subdivisions. Of these unrealized losses, $23,626 thousand were related to securities that were rated investment grade by at least one nationally recognized statistical rating agency.  The $20,640 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, as well as foreign government securities.  Of these unrealized losses, $17,428 thousand were related to securities that were rated investment grade by at least one nationally recognized statistical rating agency.  There was no gross unrealized depreciation for mortgage-backed securities related to sub-prime and alt-A loans. 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.

13

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, 2016 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	$	469,571	$	(4,434	)	$	-	$	-		$	469,571	$	(4,434	)
Obligations of U.S. states and political subdivisions		221,088		(11,486	)		564		(484	)		221,652		(11,970	)
Corporate securities		431,757		(10,121	)		118,172		(5,665	)		549,929		(15,786	)
Asset-backed securities		35,065		(122	)		5,745		(7	)		40,810		(129	)
Mortgage-backed securities
Commercial		27,230		(391	)		3,060		(61	)		30,290		(452	)
Agency residential		487,000		(6,320	)		90,740		(2,673	)		577,740		(8,993	)
Non-agency residential		-		-			-		-			-		-
Foreign government securities		218,171		(2,713	)		61,542		(7,670	)		279,713		(10,383	)
Foreign corporate securities		264,939		(4,950	)		75,489		(9,411	)		340,428		(14,361	)
Total fixed maturity securities	$	2,154,821	$	(40,537	)	$	355,312	$	(25,971	)	$	2,510,133	$	(66,508	)

	Duration of Unrealized Loss at December 31, 2016 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	$	111,926	$	(322	)	$	21,691	$	(3,625	)	$	133,617	$	(3,947	)
Due in one year through five years		1,015,066		(10,567	)		190,960		(16,511	)		1,206,026		(27,078	)
Due in five years through ten years		243,082		(10,369	)		41,371		(2,961	)		284,453		(13,330	)
Due after ten years		235,452		(12,446	)		1,745		(133	)		237,197		(12,579	)
Asset-backed securities		35,065		(122	)		5,745		(7	)		40,810		(129	)
Mortgage-backed securities		514,230		(6,711	)		93,800		(2,734	)		608,030		(9,445	)
Total fixed maturity securities	$	2,154,821	$	(40,537	)	$	355,312	$	(25,971	)	$	2,510,133	$	(66,508	)

The aggregate market value and gross unrealized losses related to investments in an unrealized loss position at December 31, 2016 were $2,510,133 thousand and $66,508 thousand, respectively.  The market value of securities for the single issuer whose securities comprised the largest unrealized loss position at December 31, 2016, did not exceed 1.0% 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 $40,537 thousand of unrealized losses related to fixed maturity securities that have been in an unrealized loss position for less than one year were generally comprised of obligations of U.S. states and political subdivisions, domestic and foreign corporate securities, agency residential mortgage-backed securities and foreign government securities.  Of these unrealized losses, $36,646 thousand were related to securities that were rated investment grade by at least one nationally recognized statistical rating agency.  The $25,971 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.  Of these unrealized losses $22,882 thousand is attributable to net unrealized foreign exchange losses, as the U.S. dollar has strengthened against other currencies.  There was no gross unrealized depreciation for mortgage-backed securities related to sub-prime and alt-A loans. 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.

14

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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Fixed maturities	$	49,601		$	44,795		$	96,581		$	90,121
Equity securities		6,370			8,734			13,118			17,882
Short-term investments and cash		590			251			980			555
Other invested assets
Limited partnerships		8,978			14,192			8,754			11,678
Dividends from preferred shares of affiliate		7,758			7,758			15,516			15,516
Other		1,496			729			2,748			(183	)
Gross investment income before adjustments		74,793			76,459			137,697			135,569
Funds held interest income (expense)		978			974			2,917			3,628
Interest income from Parent		1,075			1,075			2,150			2,150
Gross investment income		76,846			78,508			142,764			141,347
Investment expenses		(4,946	)		(4,636	)		(10,015	)		(9,030	)
Net investment income	$	71,900		$	73,872		$	132,749		$	132,317
(Some amounts may not reconcile due to rounding.)

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 $364,196 thousand in limited partnerships at June 30, 2017.  These commitments will be funded when called in accordance with the partnership agreements, which have investment periods that expire, unless extended, through 2023.

The Company's other invested assets at June 30, 2017 and December 31, 2016 included $142,964 thousand and $57,126 thousand, respectively, related to a private placement liquidity sweep facility. The primary purpose of the facility is to enhance the Company's return on its short-term investments and cash positions. The facility invests in high quality, short-duration securities and permits daily liquidity.

Other invested assets, at fair value, as of June 30, 2017 and December 31, 2016, were comprised of preferred shares held in Preferred Holdings, an affiliated company.

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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Fixed maturity securities, market value:
Other-than-temporary impairments	$	(1,574	)	$	(1,391	)	$	(2,706	)	$	(24,406	)
Gains (losses) from sales		6,507			2,244			12,972			(14,611	)
Fixed maturity securities, fair value:
Gain (losses) from sales		-			(1,854	)		-			(1,854	)
Gains (losses) from fair value adjustments		-			1,571			-			1,339
Equity securities, fair value:
Gains (losses) from sales		604			(7,636	)		4,944			(15,586	)
Gains (losses) from fair value adjustments		14,943			36,987			52,361			18,662
Other invested assets		(2	)		-			(1	)		-
Other invested assets, fair value:
Gains (losses) from fair value adjustments		(112,769	)		(756	)		(42,094	)		(756	)
Short-term investment gains (losses)		-			-			1			-
Total net realized capital gains (losses)	$	(92,291	)	$	29,165		$	25,477		$	(37,212	)

15

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.

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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Proceeds from sales of fixed maturity securities	$	359,496		$	110,429		$	652,490		$	298,475
Gross gains from sales		7,748			6,154			15,743			7,618
Gross losses from sales		(1,241	)		(5,764	)		(2,771	)		(24,083	)
Proceeds from sales of equity securities	$	115,602		$	335,831		$	249,653		$	421,980
Gross gains from sales		3,562			4,853			11,575			6,635
Gross losses from sales		(2,958	)		(12,489	)		(6,631	)		(22,221	)

5.  RESERVES FOR LOSSES AND LAE

Activity in the reserve for losses and LAE is summarized for the periods indicated:

	Six Months Ended			Twelve Months Ended
	June 30,			At December 31,
(Dollars in thousands)	2017			2016
Gross reserves at beginning of period	$	8,331,288		$	7,940,720
Less reinsurance recoverables		(4,199,791	)		(3,875,073	)
Net reserves at beginning of period		4,131,497			4,065,647
Incurred related to:
Current year		584,656			1,441,962
Prior years		2,294			(91,682	)
Total incurred losses and LAE		586,950			1,350,280
Paid related to:
Current year		165,100			400,489
Prior years		493,405			892,207
Total paid losses and LAE		658,505			1,292,696
Foreign exchange/translation adjustment		(6,122	)		8,266
Net reserves at end of period		4,053,820			4,131,497
Plus reinsurance recoverables		4,232,779			4,199,791
Gross reserves at end of period	$	8,286,599		$	8,331,288

Incurred prior years' reserves increased by $2,294 thousand and decreased by $91,682 thousand for the six months ended June 30, 2017 and the year ended December 31, 2016, respectively.

The decrease for the year ended December 31, 2016 was attributable to favorable development in the reinsurance segments of $187,909 thousand related primarily to property and short-tail business in the U.S., property business in Canada, Latin America, Middle East and Africa, as well as favorable development on prior year catastrophe losses, partially offset by $45,668 thousand of adverse development on A&E reserves. Part of the favorable development in the reinsurance segment related to the 2015 loss from the explosion at the Chinese port of Tianjin. In 2015, this loss was originally estimated to be $21,566 thousands. At December 31, 2016, this loss was projected to be $6,261 thousands resulting in $15,305

16

thousands of favorable development in 2016. The net favorable development in the reinsurance segments was partially offset by $96,227 thousand of unfavorable development in the insurance segment primarily related to run-off construction liability and umbrella program business.

6.  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 46 private placement securities, the investment manager's valuation committee valued the 46 securities at $89,291 thousand at June 30, 2017.  Due to the unavailability of prices for forty-two private placement securities, the investment manager's valuation committee valued the forty-two securities at $86,536 thousand at December 31, 2016.

The Company internally manages a public equity portfolio which had a fair value at June 30, 2017 and December 31, 2016 of $169,165 thousand and $133,755 thousand, respectively, and all prices were obtained from publically published sources.

17

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. In limited circumstances when broker prices are not available for private placements, the Company will value the securities using comparable market information.

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, was categorized as Level 3 at June 30, 2017 and December 31, 2016, since it represented a privately placed convertible preferred stock issued by an affiliate.  The stock was received in exchange for shares of the Company's parent.  The fair value of the preferred stock at June 30, 2017 and December 31, 2016 was determined using a pricing model.

18

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)	June 30, 2017		(Level 1)		(Level 2)		(Level 3)
Assets:
Fixed maturities, market value
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	666,777	$	-	$	666,777	$	-
Obligations of U.S. States and political subdivisions		696,783		-		696,783		-
Corporate securities		2,301,001		-		2,214,861		86,140
Asset-backed securities		189,989		-		189,989		-
Mortgage-backed securities
Commercial		73,245		-		73,245		-
Agency residential		683,681		-		683,681		-
Non-agency residential		70		-		70		-
Foreign government securities		501,387		-		501,387		-
Foreign corporate securities		1,027,095		-		1,023,944		3,151
Total fixed maturities, market value		6,140,028		-		6,050,737		89,291
Equity securities, fair value		934,110		893,660		40,450		-
Other invested assets, fair value		1,724,532		-		-		1,724,532

There were no transfers between Level 1 and Level 2 for the six months ended June 30, 2017.

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, 2016		(Level 1)		(Level 2)		(Level 3)
Assets:
Fixed maturities, market value
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	691,080	$	-	$	691,080	$	-
Obligations of U.S. States and political subdivisions		729,984		-		729,984		-
Corporate securities		2,154,203		-		2,089,006		65,197
Asset-backed securities		137,027		-		137,027		-
Mortgage-backed securities
Commercial		75,493		-		75,493		-
Agency residential		715,144		-		715,144		-
Non-agency residential		88		-		88		-
Foreign government securities		507,277		-		507,277		-
Foreign corporate securities		960,200		-		957,662		2,538
Total fixed maturities, market value		5,970,496		-		5,902,761		67,735
Equity securities, fair value		887,800		827,237		60,563		-
Other invested assets, fair value		1,766,626		-		-		1,766,626

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In addition $52,139 thousand and $18,801 thousand of investments within other invested assets on the consolidated balance sheets as of June 30, 2017 and December 31, 2016, respectively, are not included within the fair value hierarchy tables as the assets are valued using the NAV practical expedient guidance within ASU 2015-07.

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

	Three Months Ended June 30, 2017						Six Months Ended June 30, 2017
	Corporate		Foreign				Corporate		Foreign
(Dollars in thousands)	Securities		Corporate		Total		Securities		Corporate		Total
Beginning balance	$	84,322	$	2,802	$	87,124	$	65,197	$	2,538	$	67,735
Total gains or (losses) (realized/unrealized)
Included in earnings		711		128		839		925		104		1,029
Included in other comprehensive income (loss)		172		-		172		143		-		143
Purchases, issuances and settlements		935		221		1,156		19,875		509		20,384
Transfers in and/or (out) of Level 3		-		-		-		-		-		-
Ending balance	$	86,140	$	3,151	$	89,291	$	86,140	$	3,151	$	89,291
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 June 30, 2016								Six Months Ended June 30, 2016
	Corporate			Foreign					Corporate			Foreign
(Dollars in thousands)	Securities			Corporate		Total			Securities			Corporate			Total
Beginning balance	$	15,706		$	596	$	16,302		$	3,933		$	1,593		$	5,526
Total gains or (losses) (realized/unrealized)
Included in earnings		(18	)		-		(18	)		(10	)		(997	)		(1,007	)
Included in other comprehensive income (loss)		(27	)		1,425		1,398			(33	)		1,425			1,392
Purchases, issuances and settlements		16,749			-		16,749			28,520			-			28,520
Transfers in and/or (out) of Level 3		-			-		-			-			-			-
Ending balance	$	32,410		$	2,021	$	34,431		$	32,410		$	2,021		$	34,431
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	$	-		$	-	$	-		$	-		$	(997	)	$	(997	)

20

The following table presents the activity under Level 3, fair value measurements using significant unobservable inputs by other invested assets, for the periods indicated:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Other invested assets, fair value:
Beginning balance	$	1,837,302		$	1,773,214		$	1,766,626		$	1,773,214
Total gains or (losses) (realized/unrealized)
Included in earnings		(112,769	)		(756	)		(42,094	)		(756	)
Included in other comprehensive income (loss)		-			-			-			-
Purchases, issuances and settlements		-			-			-			-
Transfers in and/or (out) of Level 3		-			-			-			-
Ending balance		1,724,532		$	1,772,458		$	1,724,532		$	1,772,458
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.)

7.  COMMITMENTS AND 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 June 30,		At December 31,
(Dollars in thousands)	2017		2016
The Prudential	$	146,923	$	146,507
Unaffiliated life insurance company		33,107		33,860

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8.  COMPREHENSIVE INCOME (LOSS)

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

	Three Months Ended June 30, 2017									Six Months Ended June 30, 2017
(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	$	5,784		$	(1,753	)	$	4,031		$	23,804		$	(8,060	)	$	15,744
URA(D) on securities - OTTI		(317	)		111			(206	)		(3,816	)		1,336			(2,480	)
Reclassification of net realized losses (gains) included in net income (loss)		(4,931	)		1,454			(3,477	)		(10,265	)		3,321			(6,944	)
Foreign currency translation adjustments		8,265			(2,893	)		5,372			13,752			(4,813	)		8,939
Benefit plan actuarial net gain (loss)		-			-			-			-			-			-
Reclassification of amortization of net gain (loss) included in net income (loss)		3,083			(1,079	)		2,004			6,166			(2,158	)		4,008
Total other comprehensive income (loss)	$	11,884		$	(4,160	)	$	7,724		$	29,641		$	(10,374	)	$	19,267
(Some amounts may not reconcile due to rounding)

	Three Months Ended June 30, 2016									Six Months Ended June 30, 2016
(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	$	53,960		$	(18,886	)	$	35,074		$	83,916	$	(29,370	)	$	54,546
URA(D) on securities - OTTI		6,446			(2,256	)		4,190			6,643		(2,325	)		4,318
Reclassification of net realized losses (gains) included in net income (loss)		(97	)		34			(63	)		39,773		(13,921	)		25,852
Foreign currency translation adjustments		23,830			(8,341	)		15,489			46,807		(16,386	)		30,421
Benefit plan actuarial net gain (loss)		-			-			-			-		-			-
Reclassification of amortization of net gain (loss) included in net income (loss)		2,063			(722	)		1,341			4,125		(1,444	)		2,681
Total other comprehensive income (loss)	$	86,202		$	(30,171	)	$	56,031		$	181,264	$	(63,446	)	$	117,818
(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						Six Months Ended
	June 30,						June 30,						Affected line item within the statements of
AOCI component	2017			2016			2017			2016			operations and comprehensive income (loss)
(Dollars in thousands)
URA(D) on securities	$	(4,931	)	$	(97	)	$	(10,265	)	$	39,773		Other net realized capital gains (losses)
		1,454			34			3,321			(13,921	)	Income tax expense (benefit)
	$	(3,477	)	$	(63	)	$	(6,944	)	$	25,852		Net income (loss)
Benefit plan net gain (loss)	$	3,083		$	2,063		$	6,166		$	4,125		Other underwriting expenses
		(1,079	)		(722	)		(2,158	)		(1,444	)	Income tax expense (benefit)
	$	2,004		$	1,341		$	4,008		$	2,681		Net income (loss)
(Some amounts may not reconcile due to rounding)

22

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

	Six Months Ended			Twelve Months Ended
	June 30,			December 31,
(Dollars in thousands)	2017			2016
Beginning balance of URA (D) on securities	$	39,041		$	13,654
Current period change in URA (D) of investments - temporary		8,800			22,063
Current period change in URA (D) of investments - non-credit OTTI		(2,480	)		3,324
Ending balance of URA (D) on securities		45,361			39,041
Beginning balance of foreign currency translation adjustments		(9,852	)		(12,701	)
Current period change in foreign currency translation adjustments		8,939			2,849
Ending balance of foreign currency translation adjustments		(913	)		(9,852	)
Beginning balance of benefit plan net gain (loss)		(65,504	)		(63,089	)
Current period change in benefit plan net gain (loss)		4,008			(2,415	)
Ending balance of benefit plan net gain (loss)		(61,496	)		(65,504	)
Ending balance of accumulated other comprehensive income (loss)	$	(17,048	)	$	(36,315	)

9.  COLLATERALIZED 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 June 30, 2017, the total amount on deposit in the trust account was $649,841 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.

On December 1, 2015 the Company entered into two collateralized reinsurance agreements with Kilimanjaro Re to provide the Company with catastrophe reinsurance coverage.  These agreements are multi-year reinsurance contracts which cover named storm and earthquake events.  The first agreement provides up to $300,000 thousand of reinsurance coverage from named storms and earthquakes in the United States, Puerto Rico and Canada.  The second agreement provides up to $325,000 thousand of reinsurance coverage from named storms and earthquakes in the United States, Puerto Rico and Canada.

On April 13, 2017 the Company entered into six collateralized reinsurance agreements with Kilimanjaro Re to provide the Company with annual aggregate catastrophe reinsurance coverage.  The initial three agreements are four year reinsurance contracts which cover named storm and earthquake events.  These agreements provide up to $225,000 thousand, $400,000 thousand and $325,000 thousand, respectively, of annual aggregate reinsurance coverage from named storms and earthquakes in the United States, Puerto

23

Rico and Canada. The subsequent three agreements are five year reinsurance contracts which cover named storm and earthquake events.  These agreements provide up to $50,000 thousand, $75,000 thousand and $175,000 thousand, respectively, of annual aggregate reinsurance coverage from named storms and earthquakes in the United States, Puerto Rico and Canada.

Kilimanjaro has financed the various property catastrophe reinsurance coverages by issuing catastrophe bonds to unrelated, external investors.  On April 24, 2014, Kilimanjaro issued $450,000 thousand of notes ("Series 2014-1 Notes").  On November 18, 2014, Kilimanjaro issued $500,000 thousand of notes ("Series 2014-2 Notes").  On December 1, 2015, Kilimanjaro issued $625,000 thousand of notes ("Series 2015-1 Notes).  On April 13, 2017, Kilimanjaro issued $950,000 thousand of notes ("Series 2017-1 Notes) and $300,000 thousand of notes ("Series 2017-2 Notes). The proceeds from the issuance of the Notes listed above 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.

June 30, 2017

December 31, 2016

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

$

396,774

$

421,764

$

396,714

$

383,612

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.

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Interest expense incurred	$	4,868	$	4,868	$	9,736	$	9,736

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

June 30, 2017

December 31, 2016

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

$

236,511

$

223,053

$

236,462

$

204,636

During the fixed rate interest period from May 3, 2007 through May 14, 2017, interest was 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.  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 quarterly for periods from and including May 15, 2017.  The reset quarterly interest rate for May 15, 2017 to August 14, 2017 is 3.56678%.

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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				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Interest expense incurred	$	3,033	$	3,937	$	6,970	$	7,874

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 brokers, surplus lines brokers and general agents mainly 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 loss adjustment expenses ("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.

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.

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

	Three Months Ended				Six Months Ended
U.S. Reinsurance	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Gross written premiums	$	474,992	$	405,530	$	1,053,951	$	942,236
Net written premiums		135,177		161,031		354,239		384,458
Premiums earned	$	202,289	$	224,618	$	410,603	$	459,861
Incurred losses and LAE		119,747		110,152		240,181		226,322
Commission and brokerage		43,173		50,130		83,545		99,861
Other underwriting expenses		14,278		12,133		28,529		25,591
Underwriting gain (loss)	$	25,091	$	52,203	$	58,348	$	108,087

	Three Months Ended				Six Months Ended
International	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Gross written premiums	$	333,535	$	348,178	$	612,110	$	586,656
Net written premiums		111,961		124,438		215,207		212,154
Premiums earned	$	113,300	$	131,285	$	231,451	$	244,458
Incurred losses and LAE		78,459		91,427		146,873		164,842
Commission and brokerage		23,790		26,140		47,325		52,250
Other underwriting expenses		9,163		7,969		18,052		15,792
Underwriting gain (loss)	$	1,888	$	5,749	$	19,201	$	11,574

	Three Months Ended						Six Months Ended
Insurance	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Gross written premiums	$	527,047		$	424,083		$	921,898		$	778,803
Net written premiums		170,774			155,786			297,302			308,712
Premiums earned	$	152,608		$	132,952		$	297,198		$	266,461
Incurred losses and LAE		99,022			136,957			199,896			243,434
Commission and brokerage		(6,450	)		(5,861	)		(17,850	)		(15,337	)
Other underwriting expenses		40,756			38,228			77,511			76,174
Underwriting gain (loss)	$	19,280		$	(36,372	)	$	37,641		$	(37,810	)

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						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Underwriting gain (loss)	$	46,259		$	21,580		$	115,190		$	81,851
Net investment income		71,900			73,872			132,749			132,317
Net realized capital gains (losses)		(92,291	)		29,165			25,477			(37,212	)
Corporate expense		(1,512	)		(2,010	)		(5,109	)		(4,346	)
Interest, fee and bond issue cost amortization expense		(7,954	)		(8,858	)		(16,813	)		(17,717	)
Other income (expense)		10,655			(10,700	)		20,510			2,402
Income (loss) before taxes	$	27,057		$	103,049		$	272,004		$	157,295

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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				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Canada gross written premiums	$	36,195	$	34,630	$	64,152	$	58,216

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 is payable annually.  This transaction is presented as a Note Receivable – Affiliated in the Consolidated Balance Sheets of Holdings.  Interest income in the amount of $2,150 thousand and $2,150 thousand was recorded by Holdings for the six months ended June 30, 2017, and June 30, 2016, respectively.

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

Holdings had purchased and held 9,719,971 Common Shares of Group, which were purchased in the open market between February 2007 and March 2011.

In December, 2015, Holdings transferred the 9,719,971 Common Shares of Group, which it held as other invested assets, at fair value, valued at $1,773,214 thousand, to Preferred Holdings, an affiliated entity and subsidiary of Group, in exchange for 1,773.214 preferred shares of Preferred Holdings with a $1,000 thousand par value and 1.75% annual dividend rate.  After the exchange, Holdings no longer holds any shares or has any ownership interest in Group.

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Holdings reported both its Parent shares and preferred shares in Preferred Holdings, 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 the preferred shares of Preferred Holdings and on the Parent 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				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Dividends received on preferred stock of affiliate		7,758		7,758	$	15,516		15,516

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				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Expenses incurred	$	23,046	$	20,289	$	46,229	$	41,459

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
01/01/2010-12/31/2010	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
01/01/2015-12/31/2016	Everest Re	50.0%	Bermuda Re	property / casualty business	162,500		325,000
01/01/2017	Everest Re	60.0%	Bermuda Re	property / casualty business	219,000		438,000
01/01/2010-12/31/2010	Everest Re- Canadian Branch	60.0%	Bermuda Re	property business	350,000	(1)	-
01/01/2011-12/31/2011	Everest Re- Canadian Branch	60.0%	Bermuda Re	property business	350,000	(1)	-
01/01/2012-12/31/2012	Everest Re- Canadian Branch	75.0%	Bermuda Re	property / casualty business	206,250	(1)	412,500	(1)
01/01/2013-12/31/2013	Everest Re- Canadian Branch	75.0%	Bermuda Re	property / casualty business	150,000	(1)	412,500	(1)
01/01/2014	Everest Re- Canadian Branch	75.0%	Bermuda Re	property / casualty business	262,500	(1)	412,500	(1)
01/01/2012	Everest Canada	80.0%	Everest Re- Canadian Branch	property business	-		-
(1)   Amounts shown are Canadian dollars.

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

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 and Lloyd's syndicate 2786 for the periods indicated:

	Three Months Ended				Six Months Ended
Bermuda Re	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Ceded written premiums	$	681,776	$	544,495	$	1,316,672	$	1,061,178
Ceded earned premiums		620,897		593,349		1,209,771		1,132,302
Ceded losses and LAE (a)		388,573		404,667		728,704		695,143

	Three Months Ended					Six Months Ended
Everest International	June 30,					June 30,
(Dollars in thousands)	2017			2016		2017			2016
Ceded written premiums	$	45		$	62	$	(25	)	$	31
Ceded earned premiums		46			63		(25	)		39
Ceded losses and LAE		(175	)		756		(618	)		898

	Three Months Ended				Six Months Ended
Everest Canada	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Assumed written premiums	$	13,132	$	16,228	$	25,980	$	26,427
Assumed earned premiums		11,884		12,675		24,737		23,129
Assumed losses and LAE		7,319		14,440		13,970		21,427

	Three Months Ended					Six Months Ended
Lloyd's Syndicate 2786	June 30,					June 30,
(Dollars in thousands)	2017		2016			2017		2016
Assumed written premiums	$	10,236	$	(157	)	$	18,085	$	539
Assumed earned premiums		9,797		28			16,724		116
Assumed losses and LAE		4,831		-			8,264		-

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.

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

	Three Months Ended				Six Months Ended
Mt. Logan Re Segregated Accounts	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Ceded written premiums	$	38,703	$	29,450	$	77,882	$	70,381
Ceded earned premiums		50,708		39,356		84,665		74,228
Ceded losses and LAE		23,674		16,232		43,433		25,330
Assumed written premiums	$	3,763		3,074		6,495		6,634
Assumed earned premiums		3,763		3,074		6,495		6,634
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						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Service cost	$	3,299		$	2,896		$	6,598		$	5,793
Interest cost		2,276			2,361			4,552			4,722
Expected return on plan assets		(3,154	)		(2,484	)		(6,309	)		(4,968	)
Amortization of net (income) loss		3,041			2,014			6,081			4,028
Net periodic benefit cost	$	5,461		$	4,787		$	10,921		$	9,575

Other Benefits	Three Months Ended					Six Months Ended
	June 30,					June 30,
(Dollars in thousands)	2017			2016		2017			2016
Service cost	$	441		$	438	$	881		$	876
Interest cost		249			296		498			592
Amortization of prior service cost		(33	)		-		(66	)		-
Amortization of net (income) loss		75			48		151			96
Net periodic benefit cost	$	732		$	782	$	1,464		$	1,564
(Some amounts may not reconcile due to rounding.)

The Company did not make any contributions to the qualified pension benefit plan for the three and six months ended June 30, 2017 and 2016.

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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16.  DISPOSITION

On August 24, 2016 the Company sold Heartland, its crop Managing General Agent to CGB for $49,000 thousand.  The sale agreement includes a provision for a long term strategic reinsurance relationship with CGB.  The Company has recognized an after-tax loss on the sale of Heartland of $12,942 thousand.  Under the terms of the reinsurance arrangement, there will not be a material fluctuation in the level of crop business, although it will be reflected as reinsurance rather than insurance.

17.  SUBSEQUENT EVENTS

The Company has evaluated known recognized and non-recognized subsequent events.  The Company does not have any subsequent events to report.

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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, higher rates and stronger profits followed by periods of abundant capacity, lower 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 of London 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 rate 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.  Although there were flooding and wind storm events and earthquakes in parts of the world, the overall 2013, 2014 and 2015 catastrophe losses for the industry were considerably lower than average.  During 2016, there was an increase in catastrophes:  the Fort McMurray Canadian wildfire, Hurricane Matthew which affected a large area of the Caribbean and southeastern United States, storms and an earthquake in Ecuador.  There are industry reports that the catastrophe losses for 2016 reached their highest level in four years and the United States experienced the most loss events since 1980 and the highest total losses since 2012.  While the future impact on market conditions from these catastrophes cannot be determined at this time, it is unlikely to have a significant impact on the overall markets, but may impact loss affected areas.

Commencing in 2015, we initiated a strategic build out of our insurance platform through the investment in key leadership hires which in turn has brought significant underwriting talent and stronger direction in achieving our insurance program strategic goals of increased premium volume and improved underwriting results.  Recent growth is coming from highly diversified areas including newly launched lines of business, as well as, product and geographic expansion in existing lines of business.  We are building a world-class insurance platform capable of offering products across lines and geographies, complementing our leading global reinsurance franchise.

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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.

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			Six Months Ended						Percentage
	June 30,						Increase/			June 30,						Increase/
(Dollars in millions)	2017			2016			(Decrease)			2017			2016			(Decrease)
Gross written premiums	$	1,335.6		$	1,177.8			13.4	%	$	2,588.0		$	2,307.7			12.1	%
Net written premiums		417.9			441.3			-5.3	%		866.7			905.3			-4.3	%
REVENUES:
Premiums earned	$	468.2		$	488.9			-4.2	%	$	939.3		$	970.8			-3.2	%
Net investment income		71.9			73.9			-2.7	%		132.7			132.3			0.3	%
Net realized capital gains (losses)		(92.3	)		29.2		NM				25.5			(37.2	)		-168.5	%
Other income (expense)		10.7			(10.7	)		-199.6	%		20.5			2.4		NM
Total revenues		458.5			581.2			-21.1	%		1,118.0			1,068.3			4.7	%
CLAIMS AND EXPENSES:
Incurred losses and loss adjustment expenses		297.2			338.5			-12.2	%		587.0			634.6			-7.5	%
Commission, brokerage, taxes and fees		60.5			70.4			-14.1	%		113.0			136.8			-17.4	%
Other underwriting expenses		64.2			58.3			10.1	%		124.1			117.6			5.6	%
Corporate expense		1.5			2.0			-24.8	%		5.1			4.3			17.6	%
Interest, fee and bond issue cost amortization expense		8.0			8.9			-10.2	%		16.8			17.7			-5.1	%
Total claims and expenses		431.4			478.1			-9.8	%		846.0			911.0			-7.1	%
INCOME (LOSS) BEFORE TAXES		27.1			103.0			-73.7	%		272.0			157.3			72.9	%
Income tax expense (benefit)		(8.6	)		33.7			-125.5	%		67.2			46.9			43.1	%
NET INCOME (LOSS)	$	35.7		$	69.4			-48.6	%	$	204.8		$	110.4			85.6	%
RATIOS:							Point Change									Point Change
Loss ratio		63.5	%		69.3	%		(5.8	)		62.5	%		65.4	%		(2.9	)
Commission and brokerage ratio		12.9	%		14.4	%		(1.5	)		12.0	%		14.1	%		(2.1	)
Other underwriting expense ratio		13.7	%		11.9	%		1.8			13.2	%		12.1	%		1.1
Combined ratio		90.1	%		95.6	%		(5.5	)		87.7	%		91.6	%		(3.9	)
										At			At			Percentage
										June 30,			December 31,			Increase/
(Dollars in millions)											2017			2016		(Decrease)
Balance sheet data:
Total investments and cash										$	9,992.3		$	9,842.7			1.5	%
Total assets											17,761.7			17,083.4			4.0	%
Loss and loss adjustment expense reserves											8,286.6			8,331.3			-0.5	%
Total debt											633.3			633.2			0.0	%
Total liabilities											12,238.9			11,784.9			3.9	%
Stockholder's equity											5,522.8			5,298.6			4.2	%
(Some amounts may not reconcile due to rounding)
(NM, not meaningful)

Revenues.

Premiums.  Gross written premiums increased by 13.4% to $1,335.6 million for the three months ended June 30, 2017, compared to $1,177.8 million for the three months ended June 30, 2016, reflecting a $54.8 million, or 7.3%, increase in our reinsurance business and a $103.0 million, or 24.3%, increase in our insurance business.  The increase in reinsurance premiums was mainly due to the new crop reinsurance transactions and an increase in treaty casualty business. The rise in insurance premiums was primarily due

33

to increases in many lines of business, including retail property, retail causality, surety and accident and health. Gross written premiums increased by 12.1% to $2,588.0 million for the six months ended June 30, 2017, compared to $2,307.7 million for the six months ended June 30, 2016, reflecting a $137.2 million, or 9.0%, increase in our reinsurance business and a $143.1 million, or 18.4%, increase in our insurance business.  The increase in reinsurance premiums was mainly due to the new crop reinsurance transactions and an increase in treaty casualty business.  The rise in insurance premiums was primarily due to increases in many lines of business, including retail property, retail casualty, surety and accident and health.

Net written premiums decreased by 5.3% to $417.9 million for the three months ended June 30, 2017, compared to $441.3 million for the three months ended June 30, 2016, and decreased by 4.3% to $866.7 million for the six months ended June 30, 2017, compared to $905.3 million for the six months ended June 30, 2016.  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 affiliated quota share contracts. Premiums earned decreased by 4.2% to $468.2 million for the three months ended June 30, 2017, compared to $488.9 million for the three months ended June 30, 2016 and decreased by 3.2% to $939.3 million for the six months ended June 30, 2017, compared to $970.8 million for the six months ended June 30, 2016.  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 2.7% to $71.9 million for the three months ended June 30, 2017 compared with net investment income of $73.9 million for the three months ended June 30, 2016 and increased slightly by 0.3% to $132.7 million for the six months ended June 30, 2017 compared with net investment income of $132.3 million for the six months ended June 30, 2016.  Net pre-tax investment income as a percentage of average invested assets was 3.0% for the three months ended June 30, 2017, compared to 3.2% for the three months ended June 30, 2016 and remained flat at 2.8% for the six months ended June 30, 2017 and for the six months ended June 30, 2016, respectively.  The decrease in income and yield for the three month period was mainly the result of lower income from our limited partnerships and lower dividends from equity securities, partially offset by higher income from our growing fixed income portfolio. The increase in income for the six month period was primarily the result of higher income from our growing fixed income portfolio, partially offset by lower dividends from equity securities and lower income from limited partnerships.

Net Realized Capital Gains (Losses).  Net realized capital losses were $92.3 million and net realized capital gains were $29.2 million for the three months ended June 30, 2017 and 2016, respectively.  The net realized capital losses of $92.3 million were comprised of $97.8 million of losses from fair value re-measurements on equity securities and other invested assetsand$1.6 million of other-than-temporary impairments, partially offset by $7.1 million of gains from sales on our fixed maturity and equity securities.  The net realized capital gains of $29.2 million for the three months ended June 30, 2016 were comprised of $37.7 million of gains from fair value re-measurements on fixed maturity securities, equity securities and other invested assets, partially offset by $7.3 million of losses from sales on our fixed maturity and equity securities and $1.4 million of other-than-temporary impairments.

Net realized capital gains were $25.5 million and net realized capital losses were $37.2 million for the six months ended June 30, 2017 and 2016, respectively.  The net realized capital gains of $25.5 million were comprised of $17.9 million of gains from sales on our fixed maturity and equity securities and $10.3 million of gains from fair value re-measurements on equity securities and other invested assets, partially offset by $2.7 million of other-than-temporary impairments.  The net realized capital losses of $37.2 million for the six months ended June 30, 2016 million were comprised of $32.1 million of losses from sales on our fixed maturity and equity securities and $24.4 million of other-than-temporary impairments, partially offset by $19.2 million of gains from fair value re-measurements on fixed maturity securities, equity securities and other invested assets.

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Other Income (Expense).  We recorded other income of $10.7 million and $20.5 million for the three and six months ended June 30, 2017, respectively. We recorded other expense of $10.7 million and other income of $2.4 million for the three and six months ended June 30, 2016, respectively.  The changes were primarily the result of fluctuations in foreign currency exchange rates for the corresponding periods.

Claims and Expenses.

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

	Three Months Ended June 30,
	Current			Ratio %/				Prior			Ratio %/				Total			Ratio %/
(Dollars in millions)	Year			Pt Change				Years			Pt Change				Incurred			Pt Change
2017
Attritional	$	274.2			58.5	%		$	1.2			0.3	%		$	275.4			58.8	%
Catastrophes		24.2			5.2	%			(2.5	)		-0.5	%			21.8			4.7	%
Total	$	298.4			63.7	%		$	(1.3	)		-0.2	%		$	297.2			63.5	%
2016
Attritional	$	300.9			61.6	%		$	2.8			0.6	%		$	303.7			62.2	%
Catastrophes		51.5			10.5	%			(16.7	)		-3.4	%			34.8			7.1	%
Total	$	352.4			72.1	%		$	(13.9	)		-2.8	%		$	338.5			69.3	%
Variance 2017/2016
Attritional	$	(26.7	)		(3.1	)	pts	$	(1.6	)		(0.3	)	pts	$	(28.3	)		(3.4	)	pts
Catastrophes		(27.3	)		(5.3	)	pts		14.2			2.9		pts		(13.0	)		(2.4	)	pts
Total	$	(54.0	)		(8.4	)	pts	$	12.6			2.6		pts	$	(41.3	)		(5.8	)	pts

	Six Months Ended June 30,
	Current			Ratio %/				Prior			Ratio %/				Total			Ratio %/
(Dollars in millions)	Year			Pt Change				Years			Pt Change				Incurred			Pt Change
2017
Attritional	$	553.2			58.8	%		$	5.3			0.6	%		$	558.5			59.4	%
Catastrophes		31.5			3.4	%			(3.0	)		-0.3	%			28.5			3.0	%
Total	$	584.7			62.2	%		$	2.3			0.3	%		$	587.0			62.5	%
2016
Attritional	$	594.2			61.3	%		$	0.8			0.1	%		$	595.0			61.4	%
Catastrophes		56.7			5.8	%			(17.2	)		-1.8	%			39.6			4.0	%
Total	$	651.0			67.1	%		$	(16.4	)		-1.7	%		$	634.6			65.4	%
Variance 2017/2016
Attritional	$	(41.0	)		(2.5	)	pts	$	4.5			0.5		pts	$	(36.5	)		(2.0	)	pts
Catastrophes		(25.2	)		(2.4	)	pts		14.2			1.5		pts		(11.1	)		(1.0	)	pts
Total	$	(66.3	)		(4.9	)	pts	$	18.7			2.0		pts	$	(47.6	)		(2.9	)	pts
(Some amounts may not reconcile due to rounding.)

Incurred losses and LAE decreased by 12.2% to $297.2 million for the three months ended June 30, 2017 compared to $338.5 million for the three months ended June 30, 2016, primarily due to a decrease of $27.3 million in current year catastrophe losses and a decrease of $26.7 million in current years' attritional losses, mainly due to the reduction in earned premiums and changes in the mix of business, partially offset by less favorable development of $14.2 million on prior year catastrophe losses. The current year catastrophe losses of $24.2 million for the three months ended June 30, 2017 related to the South Africa Knysna Fires ($9.8 million), the Peru Storms ($6.8 million), the 2017 US Midwest Storms ($6.0 million) and Cyclone Debbie in Australia ($1.6 million).  The current year catastrophe losses of $51.5 million for the three months ended June 30, 2016 were related to the Fort McMurray Canada Wildfire ($21.9 million), U.S. Storms ($18.2 million) and the Ecuador earthquake ($11.4 million).

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Incurred losses and LAE decreased by 7.5% to $587.0 million for the six months ended June 30, 2017 compared to $634.6 million for the six months ended June 30, 2016, primarily due to a decline of $41.0 million in current years' attritional losses, mainly due to the reduction in earned premiums and changes in the mix of business, and a decrease of $25.2 million in current year catastrophe losses, partially offset by less favorable development of $14.2 million on prior year catastrophe losses. The current year catastrophe losses of $31.5 million for the six months ended June 30, 2017 related to the South Africa Knysna Fires ($9.8 million), Cyclone Debbie in Australia ($8.9 million), the Peru Storms ($6.8 million), and the 2017 US Midwest Storms ($6.0 million). The current year catastrophe losses of $56.7 million for the six months ended June 30, 2016 were related to the Fort McMurray Canada Wildfire ($21.9 million), U.S. Storms ($18.2 million), the Ecuador earthquake ($11.4 million) and the Taiwan earthquake ($5.2 million).

Commission, Brokerage, Taxes and Fees.  Commission, brokerage, taxes and fees decreased by 14.1% to $60.5 million for the three months ended June 30, 2017 compared to $70.4 millionfor the three months ended June 30, 2016. Commission, brokerage, taxes and fees decreased by 17.4% to $113.0 million for the six months ended June 30, 2017 compared to $136.8 millionfor the six months ended June 30, 2016. This change was primarily due to the impact of the decrease in premiums earned, the impact of affiliated quota share agreements and the changes in the mix of business.

Other Underwriting Expenses.  Other underwriting expenses were $64.2 million and $58.3 million for the three months ended June 30, 2017 and June 30, 2016, respectively. Other underwriting expenses were $124.1 million and $117.6 million for the six months ended June 30, 2017 and June 30, 2016, respectively. The increases in other underwriting expenses were mainly due to costs incurred related to the expansion of the insurance operations and growth in other business areas.

Corporate Expenses.  Corporate expenses, which are general operating expenses that are not allocated to segments, were relatively flat at $1.5 million and $2.0 million for the three months ended June 30, 2017 and 2016, respectively, and $5.1 million and $4.3 million for the six months ended June 30, 2017 and 2016, respectively.

Interest, Fees and Bond Issue Cost Amortization Expense.  Interest, fees and other bond amortization were at $8.0 million and $8.9 million for the three months ended June 30, 2017 and 2016, respectively.  Interest, fees and other bond amortization were $16.8 million and $17.7 million for the six months ended June 30, 2017 and 2016, respectively. The decreases in expense for both the three and six months periods were primarily due to the conversion of the long term subordinated notes from a fixed rate of 6.6% to a floating rate, which is reset quarterly per the note agreement. The floating rate was 3.56678% as of June 30, 2017.

Income Tax Expense (Benefit).  Income tax benefit was $8.6 million and income tax expense was $33.7 millionfor the three months ended June 30, 2017 and 2016, respectively. Income tax expense was $67.2 million and $46.9 millionfor the six months ended June 30, 2017 and 2016, 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 decrease in income tax expenses  for the three months ended June 30, 2017 compared to the three months ended June 30, 2016 was primarily due to net realized capital losses in 2017 compared to net realized capital gains in 2016. The increase in income tax expenses for the six months ended June 30, 2017 compared to the six months ended June 30, 2016 was mainly due to net realized capital gains for 2017 compared to net realized capital losses in 2016.

Net Income (Loss).

Our net income was $35.7 million and $69.4 million for the three months ended June 30, 2017 and 2016, respectively. Our net income was $204.8 million and $110.4 million for the six months ended June 30, 2017 and 2016, respectively. The changes were primarily driven by the financial component fluctuations explained above.

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Ratios.

Our combined ratio decreased by 5.5 points to 90.1% for the three months ended June 30, 2017 compared to 95.6% for the three months ended June 30, 2016, and decreased by 3.9 points to 87.7% for the six months ended June 30, 2017 compared to 91.6% for the six months ended June 30, 2016.  The loss ratio component decreased by 5.8 points to 63.5% for the three months ended June 30, 2017 compared to 69.3% for the same period last year and decreased by 2.9 points to 62.5% for the six months ended June 30, 2017 compared to 65.4% for the same period last year. The decreases in the loss ratio for both the three and six month periods were mainly due to lower catastrophe losses in 2017 compared to 2016. The commission and brokerage ratio component was 12.9% for the three months ended June 30, 2017 and 14.4% for the three months ended June 30, 2016, and was 12.0% for the six months ended June 30, 2017 and 14.1% for the six months ended June 30, 2016, reflecting change in the mix of business and the impact of affiliated quota share agreements.  The other underwriting expense ratio was 13.7% for the three months ended June 30, 2017 and 11.9% for the same period last year and was 13.2% for the six months ended June 30, 2017 and 12.1% for the same period last year. The increases in the other underwriting expense ratio for both the three and six month periods were mainly due to costs incurred related to the expansion of the insurance operations and growth in other business areas.

Stockholder's Equity.

Stockholders' equity increased by $224.2 million to $5,522.8 million at June 30, 2017 from $5,298.6 million at December 31, 2016, principally as a result of $204.8 million of net income, $8.9 million of net foreign currency translation adjustments, $6.3 million of net unrealized appreciation on investments, net of tax, $4.0 million of net benefit plan obligation adjustments and $0.1 million of share-based compensation transactions.

Consolidated Investment Results

Net Investment Income.

Net investment income decreased by 2.7% to $71.9 million for the three months ended June 30, 2017 compared to $73.9 million for the three months ended June 30, 2016, primarily due to lower income from our limited partnerships and lower dividends on equity securities, partially offset by higher income from our growing fixed income portfolios. Net investment income increased by 0.3% to $132.7 million for the six months ended June 30, 2017 compared to $132.3 million for the six months ended June 30, 2016, primarily due to higher income from our growing fixed income portfolios, partially offset by lower dividends on equity securities and lower income from limited partnerships.

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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in millions)	2017			2016			2017			2016
Fixed maturities	$	49.6		$	44.8		$	96.6		$	90.1
Equity securities		6.4			8.8			13.1			17.9
Short-term investments and cash		0.6			0.3			1.0			0.6
Other invested assets
Limited partnerships		9.0			14.2			8.8			11.7
Dividends from preferred shares of affiliate		7.8			7.7			15.5			15.5
Other		1.5			0.7			2.7			(0.2	)
Gross investment income before adjustments		74.7			76.5			137.7			135.6
Funds held interest income (expense)		1.0			0.9			2.9			3.6
Interest income from Parent		1.1			1.1			2.2			2.2
Gross investment income		76.8			78.5			142.8			141.3
Investment expenses		(4.9	)		(4.6	)		(10.0	)		(9.0	)
Net investment income	$	71.9		$	73.9		$	132.7		$	132.3
(Some amounts may not reconcile due to rounding.)

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

	At	At
	June 30,	December 31,
	2017	2016
Imbedded pre-tax yield of cash and invested assets at December 31	2.9%	2.9%
Imbedded after-tax yield of cash and invested assets at December 31	2.0%	2.0%

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2017	2016	2017	2016
Annualized pre-tax yield on average cash and invested assets	3.0%	3.2%	2.8%	2.8%
Annualized after-tax yield on average cash and invested assets	2.0%	2.2%	1.9%	2.0%

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 June 30,									Six Months Ended June 30,
(Dollars in millions)	2017			2016			Variance			2017			2016			Variance
Gains (losses) from sales:
Fixed maturity securities, market value
Gains	$	7.7		$	6.1		$	1.6		$	15.7		$	7.6		$	8.1
Losses		(1.3	)		(3.9	)		2.6			(2.8	)		(22.2	)		19.4
Total		6.4			2.2			4.2			12.9			(14.6	)		27.5
Fixed maturity securities, fair value
Gains		-			-			-			-			-			-
Losses		-			(1.9	)		1.9			-			(1.9	)		1.9
Total		-			(1.9	)		1.9			-			(1.9	)		1.9
Equity securities, fair value
Gains		3.6			4.8			(1.2	)		11.6			6.6			5.0
Losses		(2.9	)		(12.5	)		9.6			(6.6	)		(22.2	)		15.6
Total		0.7			(7.7	)		8.4			5.0			(15.6	)		20.6
Total net realized gains (losses) from sales
Gains		11.3			10.9			0.4			27.3			14.2			13.1
Losses		(4.2	)		(18.2	)		14.1			(9.4	)		(46.3	)		36.9
Total		7.1			(7.3	)		14.5			17.9			(32.1	)		50.0
Other than temporary impairments:		(1.6	)		(1.4	)		(0.2	)		(2.7	)		(24.4	)		21.7
Gains (losses) from fair value adjustments:
Fixed maturities, fair value		-			1.5			(1.5	)		-			1.3			(1.3	)
Equity securities, fair value		15.0			37.0			(22.0	)		52.4			18.7			33.7
Other invested assets, fair value		(112.8	)		(0.8	)		(112.0	)		(42.1	)		(0.8	)		(41.3	)
Total		(97.8	)		37.7			(135.5	)		10.3			19.2			(8.9	)
Total net realized gains (losses)	$	(92.3	)	$	29.2		$	(121.5	)	$	25.5		$	(37.2	)	$	62.7
(Some amounts may not reconcile due to rounding.)

Net realized capital losses were $92.3 million and net realized capital gains were $29.2 million for the three months ended June 30, 2017 and 2016, respectively. For the three months ended June 30, 2017 we recorded $97.8 million of net realized capital losses due to fair value re-measurements on equity securities and other invested assets and $1.6 million of other-than-temporary impairments, partially offset by $7.1

38

million of net realized capital gains from sales of fixed maturity and equity securities. For the three months ended June 30, 2016, we recorded $37.7 million of net realized capital gains due to fair value re-measurements on fixed maturity securities, equity securities and other invested assets, partially offset by $7.3 million of net realized capital losses from sales of fixed maturity and equity securities and $1.4 million of other-than-temporary impairments.  The fixed maturity and equity sales for the three months ended June 30, 2017 and 2016 related primarily to adjusting the portfolios for overall market changes and individual credit shifts.

Net realized capital gains were $25.5 million and net realized capital losses were $37.2 million for the six months ended June 30, 2017 and 2016, respectively. For the six months ended June 30, 2017 we recorded $17.9 million of net realized capital gains from sales of fixed maturity and equity securities and $10.3 million of net realized capital gains due to fair value re-measurements on equity securities and other invested assets, partially offset by $2.7 million of other-than-temporary impairments. For the six months ended June 30, 2016, we recorded $32.1 million of net realized capital losses from sales of fixed maturity and equity securities and $24.4 million of other-than-temporary impairments, partially offset by $19.2 million of net realized capital gains due to fair value re-measurements on fixed maturity securities, equity securities and other invested assets.  The fixed maturity and equity sales for the six months ended June 30, 2017 and 2016 related primarily to adjusting the portfolios for overall market changes and individual credit shifts.

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, through brokers, surplus lines brokers and general agents mainly 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 management's 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.

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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 June 30,												Six Months Ended June 30,
(Dollars in millions)	2017			2016			Variance			% Change			2017			2016			Variance			% Change
Gross written premiums	$	475.0		$	405.5		$	69.5			17.1	%	$	1,054.0		$	942.2		$	111.7			11.9	%
Net written premiums		135.2			161.0			(25.9	)		-16.1	%		354.2			384.5			(30.2	)		-7.9	%
Premiums earned	$	202.3		$	224.6		$	(22.3	)		-9.9	%	$	410.6		$	459.9		$	(49.3	)		-10.7	%
Incurred losses and LAE		119.7			110.2			9.6			8.7	%		240.2			226.3			13.9			6.1	%
Commission and brokerage		43.2			50.1			(7.0	)		-13.9	%		83.5			99.9			(16.3	)		-16.3	%
Other underwriting expenses		14.3			12.1			2.1			17.7	%		28.5			25.6			2.9			11.5	%
Underwriting gain (loss)	$	25.1		$	52.2		$	(27.1	)		-51.9	%	$	58.3		$	108.1		$	(49.7	)		-46.0	%
										Point Chg												Point Chg
Loss ratio		59.1	%		49.0	%					10.1			58.5	%		49.2	%					9.3
Commission and brokerage ratio		21.3	%		22.3	%					(1.0	)		20.3	%		21.7	%					(1.4	)
Other underwriting ratio		7.2	%		5.5	%					1.7			7.0	%		5.6	%					1.4
Combined ratio		87.6	%		76.8	%					10.8			85.8	%		76.5	%					9.3
(Some amounts may not reconcile due to rounding.)

Premiums.Gross written premiums increased by 17.1% to $475.0 million for the three months ended June 30, 2017 from $405.5 million for the three months ended June 30, 2016, primarily due to the new crop reinsurance business and an increase in treaty casualty business.  Net written premiums decreased by 16.1% to $135.2 million for the three months ended June 30, 2017 compared to $161.0 million for the three months ended June 30, 2016. 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 the affiliated quota share contracts.  Premiums earned decreased 9.9% to $202.3 million for the three months ended June 30, 2017 compared to $224.6 million for the three months ended June 30, 2016.  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 increased by 11.9% to $1,054.0 million for the six months ended June 30, 2017 from $942.2 million for the six months ended June 30, 2016, primarily due to the new crop reinsurance business and an increase in treaty casualty business.  Net written premiums decreased by 7.9% to $354.2 million for the six months ended June 30, 2017 compared to $384.5 million for the six months ended June 30, 2016. 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 the affiliated quota share contracts. Premiums earned decreased 10.7% to $410.6 million for the six months ended June 30, 2017 compared to $459.9 million for the six months ended June 30, 2016.  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.

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

	Three Months Ended June 30,
	Current			Ratio %/				Prior			Ratio %/				Total			Ratio %/
(Dollars in millions)	Year			Pt Change				Years			Pt Change				Incurred			Pt Change
2017
Attritional	$	126.2			62.3	%		$	(3.8	)		-1.9	%		$	122.4			60.5	%
Catastrophes		1.2			0.6	%			(3.8	)		-1.9	%			(2.6	)		-1.3	%
Total segment	$	127.4			62.9	%		$	(7.6	)		-3.8	%		$	119.7			59.1	%
2016
Attritional	$	117.1			52.2	%		$	1.9			0.8	%		$	119.0			53.1	%
Catastrophes		1.4			0.6	%			(10.2	)		-4.6	%			(8.8	)		-3.9	%
Total segment	$	118.5			52.9	%		$	(8.4	)		-3.8	%		$	110.2			49.0	%
Variance 2017/2016
Attritional	$	9.1			10.1		pts	$	(5.7	)		(2.7	)	pts	$	3.4			7.4		pts
Catastrophes		(0.2	)		-		pts		6.4			2.7		pts		6.2			2.6		pts
Total segment	$	8.9			10.0		pts	$	0.8			-		pts	$	9.6			10.1		pts

	Six Months Ended June 30,
	Current		Ratio %/				Prior			Ratio %/				Total			Ratio %/
(Dollars in millions)	Year		Pt Change				Years			Pt Change				Incurred			Pt Change
2017
Attritional	$	246.8		60.1	%		$	(4.3	)		-1.0	%		$	242.5			59.1	%
Catastrophes		1.6		0.4	%			(3.9	)		-1.0	%			(2.3	)		-0.6	%
Total segment	$	248.4		60.5	%		$	(8.2	)		-2.0	%		$	240.2			58.5	%
2016
Attritional	$	235.4		51.2	%		$	(0.4	)		-0.1	%		$	235.1			51.1	%
Catastrophes		1.4		0.3	%			(10.2	)		-2.2	%			(8.8	)		-1.9	%
Total segment	$	236.9		51.5	%		$	(10.6	)		-2.3	%		$	226.3			49.2	%
Variance 2017/2016
Attritional	$	11.4		8.9		pts	$	(3.9	)		(0.9	)	pts	$	7.4			8.0		pts
Catastrophes		0.2		0.1		pts		6.3			1.2		pts		6.5			1.3		pts
Total segment	$	11.5		9.0		pts	$	2.4			0.3		pts	$	13.9			9.3		pts
(Some amounts may not reconcile due to rounding.)

Incurred losses increased by 8.7% to $119.7 million for the three months ended June 30, 2017 compared to $110.2 millionfor the three months ended June 30, 2016, primarily due to an increase of $9.1 million in current year attritional losses, resulting mainly from the change in the mix of business and including the impact of the new crop reinsurance contract, which generally has a higher loss ratio. The current year catastrophe losses of $1.2 million for the three months ended June 30, 2017 primarily related to the 2017 US Midwest Storms ($1.2 million). The $1.4 million of current year catastrophe losses for the three months ended June 30, 2016 were mainly due to the 2016 U.S. storms.

Incurred losses increased by 6.1% to $240.2 million for the six months ended June 30, 2017 compared to $226.3 millionfor the six months ended June 30, 2016, primarily due to an increase of $11.4 million in current year attritional losses, resulting mainly from the change in the mix of business and including the impact of the new crop reinsurance contract, which generally has a higher loss ratio. The current year catastrophe losses of $1.6 million for the six months ended June 30, 2017 primarily related to the 2017 US Midwest Storms ($1.2 million) and Cyclone Debbie in Australia ($0.5 million). The $1.4 million of current year catastrophe losses for the six months ended June 30, 2016 were mainly due to the 2016 U.S. storms.

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Segment Expenses.  Commission and brokerage decreased by 13.9% to $43.2 million for the three months ended June 30, 2017 compared to $50.1 million for the three months ended June 30, 2016.  The decrease was mainly due to the impact of the decrease in premiums earned and the impact of affiliated quota share contracts. Segment other underwriting expenses increased to $14.3 million for the three months ended June 30, 2017 from $12.1 million for the three months ended June 30, 2016. The increase was primarily due to the impact of changes in the mix of business and affiliated quota share contracts.

Commission and brokerage decreased by 16.3% to $83.5 million for the six months ended June 30, 2017 compared to $99.9 million for the six months ended June 30, 2016.  The decrease was mainly due to the impact of the decrease in premiums earned and the impact of affiliated quota share contracts. Segment other underwriting expenses increased to $28.5 million for the six months ended June 30, 2017 from $25.6 million for the six months ended June 30, 2016. The increase was primarily due to the impact of changes in the mix of business and affiliated quota share contracts.

International.

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

	Three Months Ended June 30,												Six Months Ended June 30,
(Dollars in millions)	2017			2016			Variance			% Change			2017			2016			Variance			% Change
Gross written premiums	$	333.5		$	348.2		$	(14.6	)		-4.2	%	$	612.1		$	586.7		$	25.5			4.3	%
Net written premiums		112.0			124.4			(12.5	)		-10.0	%		215.2			212.2			3.1			1.4	%
Premiums earned	$	113.3		$	131.3		$	(18.0	)		-13.7	%	$	231.5		$	244.5		$	(13.0	)		-5.3	%
Incurred losses and LAE		78.5			91.4			(13.0	)		-14.2	%		146.9			164.8			(18.0	)		-10.9	%
Commission and brokerage		23.8			26.1			(2.4	)		-8.9	%		47.3			52.3			(4.9	)		-9.4	%
Other underwriting expenses		9.2			8.0			1.2			15.0	%		18.1			15.8			2.3			14.3	%
Underwriting gain (loss)	$	1.9		$	5.7		$	(3.9	)		-67.2	%	$	19.2		$	11.6		$	7.6			65.9	%
										Point Chg												Point Chg
Loss ratio		69.2	%		69.6	%					(0.4	)		63.5	%		67.4	%					(3.9	)
Commission and brokerage ratio		21.0	%		19.9	%					1.1			20.4	%		21.4	%					(1.0	)
Other underwriting ratio		8.1	%		6.1	%					2.0			7.8	%		6.5	%					1.3
Combined ratio		98.3	%		95.6	%					2.7			91.7	%		95.3	%					(3.6	)
(Some amounts may not reconcile due to rounding.)

Premiums.Gross written premiums decreased by 4.2% to $333.5 million for the three months ended June 30, 2017 compared to $348.2 million for the three months ended June 30, 2016, primarily due to the decline in Latin American business, partially offset by the positive impact of $11.7 million from the movement of foreign exchange rates. Net written premiums decreased by 10.0% to $112.0 million for the three months ended June 30, 2017 compared to $124.4 million for the three months ended June 30, 2016.  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, including affiliated quota share contracts. Premiums earned decreased 13.7% to $113.3 million for the three months ended June 30, 2017 compared to $131.3 million for the three months ended June 30, 2016.  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 increased by 4.3% to $612.1 million for the six months ended June 30, 2017 compared to $586.7 million for the six months ended June 30, 2016, primarily due to increases in Middle East, African and Asian business and the positive impact of $23.4 million from the movement of foreign exchange rates.   Net written premiums increased by 1.4% to $215.2 million for the six months ended June 30, 2017 compared to $212.2 million for the six months ended June 30, 2016.  The difference between the change in gross written premiums compared to the change in net written premiums is primarily due to

42

varying utilization of reinsurance related to the quota share contracts, including affiliated quota share contracts. Premiums earned decreased 5.3% to $231.5 million for the six months ended June 30, 2017 compared to $244.5 million for the six months ended June 30, 2016.  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 table presents the incurred losses and LAE for the International segment for the periods indicated.

	Three Months Ended June 30,
	Current			Ratio %/				Prior			Ratio %/				Total			Ratio %/
(Dollars in millions)	Year			Pt Change				Years			Pt Change				Incurred			Pt Change
2017
Attritional	$	57.8			51.0	%		$	1.1			0.9	%		$	58.9			51.9	%
Catastrophes		18.3			16.1	%			1.4			1.2	%			19.6			17.3	%
Total segment	$	76.1			67.1	%		$	2.5			2.1	%		$	78.5			69.2	%
2016
Attritional	$	65.0			49.5	%		$	(0.6	)		-0.4	%		$	64.4			49.1	%
Catastrophes		33.4			25.4	%			(6.4	)		-4.9	%			27.0			20.5	%
Total segment	$	98.4			74.9	%		$	(7.0	)		-5.3	%		$	91.4			69.6	%
Variance 2017/2016
Attritional	$	(7.2	)		1.5		pts	$	1.7			1.3		pts	$	(5.5	)		2.8		pts
Catastrophes		(15.1	)		(9.3	)	pts		7.8			6.1		pts		(7.4	)		(3.2	)	pts
Total segment	$	(22.3	)		(7.8	)	pts	$	9.5			7.4		pts	$	(13.0	)		(0.4	)	pts

	Six Months Ended June 30,
	Current			Ratio %/				Prior			Ratio %/				Total			Ratio %/
(Dollars in millions)	Year			Pt Change				Years			Pt Change				Incurred			Pt Change
2017
Attritional	$	118.9			51.5	%		$	1.9			0.8	%		$	120.7			52.3	%
Catastrophes		25.1			10.8	%			1.0			0.4	%			26.1			11.3	%
Total segment	$	144.0			62.3	%		$	2.9			1.3	%		$	146.9			63.5	%
2016
Attritional	$	136.4			55.8	%		$	(3.4	)		-1.4	%		$	133.0			54.4	%
Catastrophes		38.6			15.8	%			(6.8	)		-2.8	%			31.8			13.0	%
Total segment	$	175.0			71.6	%		$	(10.2	)		-4.2	%		$	164.8			67.4	%
Variance 2017/2016
Attritional	$	(17.5	)		(4.3	)	pts	$	5.3			2.2		pts	$	(12.3	)		(2.1	)	pts
Catastrophes		(13.5	)		(5.0	)	pts		7.8			3.2		pts		(5.7	)		(1.7	)	pts
Total segment	$	(31.0	)		(9.3	)	pts	$	13.1			5.5		pts	$	(18.0	)		(3.9	)	pts
(Some amounts may not reconcile due to rounding.)

Incurred losses and LAE decreased by 14.2% to $78.5 million for the three months ended June 30, 2017 compared to $91.4 millionfor the three months ended June 30, 2016, primarily due to a decrease of $15.1 million in current year catastrophe losses and a decrease in current year attritional losses of $7.2 million, partially offset by $7.8 million of less favorable development on prior year catastrophe losses. The current year catastrophe losses of $18.3 million for the three months ended June 30, 2017 related to the South Africa Knysna Fires ($9.8 million), the Peru Storms ($6.8 million) and Cyclone Debbie in Australia ($1.6 million). The $33.4 million of current year catastrophe losses for the three months ended June 30, 2016 were due to the Fort McMurray Canada wildfire ($21.7 million) and the Ecuador earthquake ($11.6 million).

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Incurred losses and LAE decreased by 10.9% to $146.9 million for the six months ended June 30, 2017 compared to $164.8 millionfor the six months ended June 30, 2016, primarily due to a decrease in current year attritional losses of $17.5 million, primarily due to the impact of the decrease in premiums earned and changes in the affiliated quota share contracts, and a decrease of $13.5 million in current catastrophe losses, partially offset by the impact of favorable development on prior year attritional losses and prior year catastrophe losses in 2016 which did not recur in 2017. The current year catastrophe losses of $25.1 million for the six months ended June 30, 2017 related to the South Africa Knysna Fires ($9.8 million), Cyclone Debbie in Australia ($8.4 million) and the Peru Storms ($6.8 million).  The $38.6 million of current year catastrophe losses for the six months ended June 30, 2016 were due to the Fort McMurray Canada wildfire ($21.7 million), the Ecuador earthquake ($11.6 million) and the Taiwan earthquake ($5.3 million).

Segment Expenses.Commission and brokerage decreased 8.9% to $23.8 million for the three months ended June 30, 2017 compared to $26.1 million for the three months ended June 30, 2016. Commission and brokerage decreased 9.4% to $47.3 million for the six months ended June 30, 2017 compared to $52.3 million for the six months ended June 30, 2016.  The decreases were due to the impact of the decreases in premiums earned, the impact of affiliated quota share agreements and changes in the mix of business.

Segment other underwriting expenses increased to $9.2 million for the three months ended June 30, 2017 from $8.0 million for the three months ended June 30, 2016, and increased to $18.1 million for the six months ended June 30, 2017 from $15.8 million for the six months ended June 30, 2016. The increases were mainly due to the impact of affiliated quota share agreements and changes in the mix of business.

Insurance.

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

	Three Months Ended June 30,												Six Months Ended June 30,
(Dollars in millions)	2017			2016			Variance			% Change			2017			2016			Variance			% Change
Gross written premiums	$	527.0		$	424.1		$	102.9			24.3	%	$	921.9		$	778.8		$	143.1			18.4	%
Net written premiums		170.8			155.8			15.0			9.6	%		297.3			308.7			(11.4	)		-3.7	%
Premiums earned	$	152.6		$	133.0		$	19.7			14.8	%	$	297.2		$	266.5		$	30.7			11.5	%
Incurred losses and LAE		99.0			137.0			(37.9	)		-27.7	%		199.9			243.4			(43.5	)		-17.9	%
Commission and brokerage		(6.5	)		(5.9	)		(0.6	)		10.0	%		(17.9	)		(15.3	)		(2.5	)		16.4	%
Other underwriting expenses		40.8			38.2			2.5			6.6	%		77.5			76.2			1.3			1.8	%
Underwriting gain (loss)	$	19.3		$	(36.4	)	$	55.7		NM			$	37.6		$	(37.8	)	$	75.5		NM
										Point Chg												Point Chg
Loss ratio		64.9	%		103.0	%					(38.1	)		67.3	%		91.4	%					(24.1	)
Commission and brokerage ratio		-4.2	%		-4.3	%					0.1			-6.0	%		-5.8	%					(0.3	)
Other underwriting ratio		26.7	%		28.7	%					(2.0	)		26.0	%		28.6	%					(2.6	)
Combined ratio		87.4	%		127.4	%					(39.9	)		87.3	%		114.2	%					(26.9	)
(NM, not meaningful)
(Some amounts may not reconcile due to rounding.)

Premiums. Gross written premiums increased by 24.3% to $527.0 million for the three months ended June 30, 2017 compared to $424.1 million for the three months ended June 30, 2016.  This increase was primarily driven by expansion of many lines of business, including retail property, retail casualty, surety and accident and health. Net written premiums increased by 9.6% to $170.8 million for the three months ended June 30, 2017 compared to $155.8 million for the three months ended June 30, 2016.  The difference between the change in gross written premiums compared to the change in net written premiums is primarily due to the more conservative reinsurance position we have taken to support our new business and the impact of affiliated quota share agreements.  Premiums earned increased 14.8% to $152.6 million

44

for the three months ended June 30, 2017 compared to $133.0 million for the three months ended June 30, 2016.  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 18.4% to $921.9 million for the six months ended June 30, 2017 compared to $778.8 million for the six months ended June 30, 2016.  This increase was primarily driven by expansion of many lines of business, including retail property, retail casualty, surety and accident and health. Net written premiums decreased by 3.7% to $297.3 million for the six months ended June 30, 2017 compared to $308.7 million for the six months ended June 30, 2016.  The difference between the change in gross written premiums compared to the change in net written premiums is primarily due to the more conservative reinsurance position we have taken to support our new business and the impact of affiliated quota share agreements.  Premiums earned increased 11.5% to $297.2 million for the six months ended June 30, 2017 compared to $266.5 million for the six months ended June 30, 2016.  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.

Incurred Losses and LAE.The following table presents the incurred losses and LAE for the Insurance segment for the periods indicated.

	Three Months Ended June 30,
	Current			Ratio %/				Prior		Ratio %/				Total			Ratio %/
(Dollars in millions)	Year			Pt Change				Years		Pt Change				Incurred			Pt Change
2017
Attritional	$	90.3			59.2	%		$	4.0		2.6	%		$	94.2			61.8	%
Catastrophes		4.8			3.1	%			-		0.0	%			4.8			3.1	%
Total segment	$	95.1			62.4	%		$	4.0		2.6	%		$	99.0			64.9	%
2016
Attritional	$	118.8			89.3	%		$	1.5		1.2	%		$	120.3			90.5	%
Catastrophes		16.7			12.5	%			-		0.0	%			16.7			12.5	%
Total segment	$	135.5			101.8	%		$	1.5		1.2	%		$	137.0			103.0	%
Variance 2017/2016
Attritional	$	(28.5	)		(30.1	)	pts	$	2.5		1.4		pts	$	(26.1	)		(28.7	)	pts
Catastrophes		(11.9	)		(9.4	)	pts		0.0		-		pts		(11.9	)		(9.4	)	pts
Total segment	$	(40.4	)		(39.4	)	pts	$	2.5		1.4		pts	$	(37.9	)		(38.1	)	pts

	Six Months Ended June 30,
	Current			Ratio %/				Prior			Ratio %/				Total			Ratio %/
(Dollars in millions)	Year			Pt Change				Years			Pt Change				Incurred			Pt Change
2017
Attritional	$	187.6			63.1	%		$	7.7			2.6	%		$	195.2			65.7	%
Catastrophes		4.8			1.6	%			(0.1	)		0.0	%			4.7			1.6	%
Total segment	$	192.4			64.7	%		$	7.6			2.6	%		$	199.9			67.3	%
2016
Attritional	$	222.4			83.5	%		$	4.5			1.7	%		$	226.9			85.2	%
Catastrophes		16.7			6.3	%			(0.2	)		-0.1	%			16.5			6.2	%
Total segment	$	239.1			89.8	%		$	4.3			1.6	%		$	243.4			91.4	%
Variance 2017/2016
Attritional	$	(34.8	)		(20.4	)	pts	$	3.2			0.9		pts	$	(31.7	)		(19.5	)	pts
Catastrophes		(11.9	)		(4.7	)	pts		0.1			0.1		pts		(11.8	)		(4.6	)	pts
Total segment	$	(46.7	)		(25.1	)	pts	$	3.3			1.0		pts	$	(43.5	)		(24.1	)	pts
(Some amounts may not reconcile due to rounding.)

Incurred losses and LAE decreased by 27.7% to $99.0 million for the three months ended June 30, 2017 compared to $137.0 million for the three months ended June 30, 2016, mainly due to a decrease of

45

$28.5 million in current year attritional losses and a decrease of $11.9 million in current year catastrophe losses. The decrease in current year attritional losses primarily related to changes in the mix of business and the impact of affiliated quota share agreements. The current year catastrophe losses of $4.8 million for the three months ended June 30, 2017 primarily related to 2017 US Midwest Storms (4.8 million).The $16.7 million of current year catastrophe losses for the three months ended June 30, 2016 were due to the 2016 U.S. storms ($15.0 million) and the Fort McMurray Canada wildfire ($1.7 million).

Incurred losses and LAE decreased by 17.9% to $199.9 million for the six months ended June 30, 2017 compared to $243.4 million for the six months ended June 30, 2016, mainly due to a decrease of $34.8 million in current year attritional losses and a decrease of $11.9 million in current catastrophe losses. The decrease in current year attritional losses primarily related to changes in the mix of business and the impact of affiliated quota share agreements. The current year catastrophe losses of $4.8 million for the six months ended June 30, 2017 primarily related to 2017 US Midwest Storms (4.8 million). The $16.7 million of current year catastrophe losses for the six months ended June 30, 2016 were due to the 2016 U.S. storms ($15.0 million) and the Fort McMurray Canada wildfire ($1.7 million).

Segment Expenses.Commission and brokerage decreased to ($6.5) million for the three months ended June 30, 2017 compared to ($5.9) million for the three months ended June 30, 2016.  Commission and brokerage decreased to ($17.9) million for the six months ended June 30, 2017 compared to ($15.3) million for the six months ended June 30, 2016. The decrease was mainly due to the impact of changes in the mix of business and the impacts from affiliated quota share agreements.

Segment other underwriting expenses increased to $40.8 million for the three months ended June 30, 2017 compared to $38.2 million for the three months ended June 30, 2016. Segment other underwriting expenses increased to $77.5 million for the six months ended June 30, 2017 compared to $76.2 million for the six months ended June 30, 2016. These increases were mainly due to the costs incurred related to the expansion of 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 $10.0 billion investment portfolio, at June 30, 2017, 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.

46

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 $757.0 million of mortgage-backed securities in the $6,140.0 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.

The table below displays the potential impact of market value fluctuations and after-tax unrealized appreciation on our fixed maturity portfolio (including $176.4 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 estimate on 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 June 30, 2017
(Dollars in millions)	-200			-100			0			100			200
Total Market/Fair Value	$	6,685.0		$	6,503.3		$	6,316.4		$	6,122.5		$	5,928.0
Market/Fair Value Change from Base (%)		5.8	%		3.0	%		0.0	%		-3.1	%		-6.1	%
Change in Unrealized Appreciation
After-tax from Base ($)	$	239.6		$	121.4		$	-		$	(126.1	)	$	(252.5	)

We had $8,286.6 million and $8,331.3 million of gross reserves for losses and LAE as of June 30, 2017 and December 31, 2016, 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, preferred stock and mutual fund 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 our core 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 June 30, 2017
(Dollars in millions)	-20%			-10%			0%		10%		20%
Fair/Market Value of the Equity Portfolio	$	747.3		$	840.7		$	934.1	$	1,027.5	$	1,120.9
After-tax Change in Fair/Market Value		(121.4	)		(60.7	)		-		60.7		121.4

Foreign Currency 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

47

guidance, the impact on the market value of available for sale fixed maturities due to changes in foreign currency exchange rates, in relation to functional currency, is reflected as part of other comprehensive income.  Conversely, the impact of changes in foreign currency exchange rates, in relation to functional currency, on other assets and liabilities is reflected through net income as a component of other income (expense).  In addition, 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.

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

48

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.

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.

49

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

50

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:  August 14, 2017

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.

August 14, 2017

/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.

August 14, 2017

/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 June 30, 2017 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.

August 14, 2017

/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

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 01, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q2
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

XML

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
ASSETS:
Fixed maturities - available for sale, at market value (amortized cost: 2017, $6,017,568; 2016, $5,910,494)	$ 6,140,028	$ 5,970,496
Equity securities - available for sale, at fair value	934,110	887,800
Short-term investments	176,405	306,286
Other invested assets (cost: 2017, $773,322; 2016, $613,680)	774,646	613,740
Other invested assets, at fair value	1,724,532	1,766,626
Cash	242,565	297,794
Total investments and cash	9,992,286	9,842,742
Note receivable - affiliated	250,000	250,000
Accrued investment income	43,799	45,323
Premiums receivable	1,343,051	1,128,639
Reinsurance receivables - unaffiliated	893,608	887,657
Reinsurance receivables - affiliated	3,798,963	3,686,130
Funds held by reinsureds	193,800	190,421
Deferred acquisition costs	48,827	68,621
Prepaid reinsurance premiums	965,909	781,384
Other assets	231,416	202,519
TOTAL ASSETS	17,761,659	17,083,436
LIABILITIES:
Reserve for losses and loss adjustment expenses	8,286,599	8,331,288
Unearned premium reserve	1,424,957	1,312,386
Funds held under reinsurance treaties	116,397	110,836
Losses in the course of payment	333,262	82,915
Commission reserves	39,236	52,037
Other net payable to reinsurers	906,305	815,298
4.868% Senior notes due 6/1/2044	396,774	396,714
6.6% Long term notes due 5/1/2067	236,511	236,462
Accrued interest on debt and borrowings	2,632	3,537
Income taxes	173,693	148,940
Unsettled securities payable	46,183	27,121
Other liabilities	276,316	267,349
Total liabilities	12,238,865	11,784,883
Commitments and Contingencies (Note 7)
STOCKHOLDER'S EQUITY:
Common stock, par value: $0.01; 3,000 shares authorized; 1,000 shares issued and outstanding (2017 and 2016)
Additional paid-in capital	387,705	387,567
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of ($9,175) at 2017 and ($19,549) at 2016	(17,048)	(36,315)
Retained earnings	5,152,137	4,947,301
Total stockholder's equity	5,522,794	5,298,553
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$ 17,761,659	$ 17,083,436

XML

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Fixed maturities - available for sale, amortized cost	$ 6,071,568	$ 5,910,494
Other invested assets, cost	$ 773,322	$ 613,680
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)	$ (9,175)	$ (19,549)
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

XML

Consolidated Statements Of Operations And Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
REVENUES:
Premiums earned	$ 468,197	$ 488,855	$ 939,252	$ 970,780
Net investment income	71,900	73,872	132,749	132,317
Net realized capital gains (losses):
Other-than-temporary impairments on fixed maturity securities	(1,574)	(1,391)	(2,706)	(24,406)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income (loss)
Other net realized capital gains (losses)	(90,717)	30,556	28,183	(12,806)
Total net realized capital gains (losses)	(92,291)	29,165	25,477	(37,212)
Other income (expense)	10,655	(10,700)	20,510	2,402
Total revenues	458,461	581,192	1,117,988	1,068,287
CLAIMS AND EXPENSES:
Incurred losses and loss adjustment expenses	297,228	338,536	586,950	634,598
Commission, brokerage, taxes and fees	60,513	70,409	113,020	136,774
Other underwriting expenses	64,197	58,330	124,092	117,557
Corporate expenses	1,512	2,010	5,109	4,346
Interest, fee and bond issue cost amortization expense	7,954	8,858	16,813	17,717
Total claims and expenses	431,404	478,143	845,984	910,992
INCOME (LOSS) BEFORE TAXES	27,057	103,049	272,004	157,295
Income tax expense (benefit)	(8,601)	33,677	67,168	46,933
NET INCOME (LOSS)	35,658	69,372	204,836	110,362
Other comprehensive income (loss), net of tax :
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period	3,825	39,264	13,264	58,864
Less: reclassification adjustment for realized losses (gains) included in net income (loss)	(3,477)	(63)	(6,944)	25,852
Total URA(D) on securities arising during the period	348	39,201	6,320	84,716
Foreign currency translation adjustments	5,372	15,489	8,939	30,421
Benefit plan actuarial net gain (loss) for the period
Reclassification adjustment for amortization of net (gain) loss included in net income (loss)	2,004	1,341	4,008	2,681
Total benefit plan net gain (loss) for the period	2,004	1,341	4,008	2,681
Total other comprehensive income (loss), net of tax	7,724	56,031	19,267	117,818
COMPREHENSIVE INCOME (LOSS)	$ 43,382	$ 125,403	$ 224,103	$ 228,180

XML

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 at Dec. 31, 2013				$ 3,779,839
Net income (loss)				453,428	$ 453,428
Balance, end of period at Dec. 31, 2014				4,233,267	4,600,079
Net income (loss)				412,390	412,390
Balance, end of period, shares at Dec. 31, 2015	1,000
Balance, end of period at Dec. 31, 2015		$ 374,789	$ (62,136)	4,645,657	4,958,310
Net income (loss)				40,990	40,990
Balance, end of period, shares at Mar. 31, 2016	1,000
Balance, end of period at Mar. 31, 2016		379,582	(349)	4,686,647	5,065,880
Balance, beginning of period, shares at Dec. 31, 2015	1,000
Balance, beginning of period at Dec. 31, 2015		374,789	(62,136)	4,645,657	4,958,310
Share-based compensation plans		7,748
Net increase (decrease) during the period			117,818		117,818
Net income (loss)				110,362	110,362
Balance, end of period, shares at Jun. 30, 2016	1,000
Balance, end of period at Jun. 30, 2016		382,537	55,682	4,756,019	5,194,238
Balance, beginning of period, shares at Dec. 31, 2015	1,000
Balance, beginning of period at Dec. 31, 2015		374,789	(62,136)	4,645,657	4,958,310
Net income (loss)				186,665	186,665
Balance, end of period at Sep. 30, 2016				4,832,322	5,272,645
Balance, beginning of period, shares at Dec. 31, 2015	1,000
Balance, beginning of period at Dec. 31, 2015		374,789	(62,136)	4,645,657	4,958,310
Net income (loss)				301,644	$ 301,644
Balance, end of period, shares at Dec. 31, 2016	1,000				1,000
Balance, end of period at Dec. 31, 2016		387,567	(36,315)	4,947,301	$ 5,298,553
Balance, beginning of period, shares at Mar. 31, 2016	1,000
Balance, beginning of period at Mar. 31, 2016		379,582	(349)	4,686,647	5,065,880
Share-based compensation plans		2,955
Net increase (decrease) during the period			56,031		56,031
Net income (loss)				69,372	69,372
Balance, end of period, shares at Jun. 30, 2016	1,000
Balance, end of period at Jun. 30, 2016		382,537	55,682	4,756,019	5,194,238
Net income (loss)				76,303	76,303
Balance, end of period at Sep. 30, 2016				4,832,322	$ 5,272,645
Balance, beginning of period, shares at Dec. 31, 2016	1,000				1,000
Balance, beginning of period at Dec. 31, 2016		387,567	(36,315)	4,947,301	$ 5,298,553
Net income (loss)				169,178	169,178
Balance, end of period, shares at Mar. 31, 2017	1,000
Balance, end of period at Mar. 31, 2017		387,637	(24,772)	5,116,479	$ 5,479,344
Balance, beginning of period, shares at Dec. 31, 2016	1,000				1,000
Balance, beginning of period at Dec. 31, 2016		387,567	(36,315)	4,947,301	$ 5,298,553
Share-based compensation plans		138
Net increase (decrease) during the period			19,267		19,267
Net income (loss)				204,836	$ 204,836
Balance, end of period, shares at Jun. 30, 2017	1,000				1,000
Balance, end of period at Jun. 30, 2017		387,705	(17,048)	5,152,137	$ 5,522,794
Balance, beginning of period, shares at Mar. 31, 2017	1,000
Balance, beginning of period at Mar. 31, 2017		387,637	(24,772)	5,116,479	5,479,344
Share-based compensation plans		68
Net increase (decrease) during the period			7,724		7,724
Net income (loss)				35,658	$ 35,658
Balance, end of period, shares at Jun. 30, 2017	1,000				1,000
Balance, end of period at Jun. 30, 2017		$ 387,705	$ (17,048)	$ 5,152,137	$ 5,522,794

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Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	1 Months Ended	3 Months Ended					6 Months Ended		9 Months Ended	12 Months Ended
	Dec. 31, 2015	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)		$ 35,658	$ 169,178	$ 76,303	$ 69,372	$ 40,990	$ 204,836	$ 110,362	$ 186,665	$ 301,644	$ 412,390
Adjustments to reconcile net income to net cash provided by operating activities:
Decrease (increase) in premiums receivable							(213,530)	13,635
Decrease (increase) in funds held by reinsureds, net							2,353	(3,111)
Decrease (increase) in reinsurance receivables							(115,273)	(9,694)
Decrease (increase) in income taxes			74,132			6,939	14,411	9,279	35,647	62,991	60,494
Decrease (increase) in prepaid reinsurance premiums							(184,385)	24,418
Increase (decrease) in reserve for losses and loss adjustment expenses							(55,590)	257,415
Increase (decrease) in unearned premiums							111,848	(89,903)
Increase (decrease) in other net payable to reinsurers			(27,178)			(107,710)	89,702	(373,353)	(216,024)	(371,856)	195,936
Increase (decrease) in losses in course of payment							250,153	1,813
Change in equity adjustments in limited partnerships							(8,728)	(11,352)
Distribution of limited partnership income							12,483	22,822
Change in other assets and liabilities, net			17,895			23,161	(10,031)	13,152	(125,150)	15,144	13,345
Non-cash compensation expense							5,186	5,433
Amortization of bond premium (accrual of bond discount)							9,107	8,972
Amortization of underwriting discount on senior notes							2	2
Net realized capital (gains) losses		92,291			(29,165)		(25,477)	37,212
Net cash provided by (used in) operating activities							87,067	17,102
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from fixed maturities matured/called - available for sale, at market value							555,649	368,179
Proceeds from fixed maturities sold - available for sale, at market value							652,490	296,888
Proceeds from fixed maturities sold - available for sale, at fair value								1,587
Proceeds from equity securities sold - available for sale, at fair value							249,653	421,980
Distributions from other invested assets							1,018,997	696,889
Cost of fixed maturities acquired - available for sale, at market value							(1,348,415)	(923,755)
Cost of equity securities acquired - available for sale, at fair value							(237,894)	(180,406)
Cost of other invested assets acquired							(1,182,157)	(862,717)
Net change in short-term investments							130,362	178,128
Net change in unsettled securities transactions							6,648	36,119
Net cash provided by (used in) investing activities							(154,667)	32,892
CASH FLOWS FROM FINANCING ACTIVITIES:
Tax benefit from share-based compensation							(5,048)	2,315
Net cash provided by (used in) financing activities							(5,048)	2,315
EFFECT OF EXCHANGE RATE CHANGES ON CASH							17,419	22,189
Net increase (decrease) in cash							(55,229)	74,498
Cash, beginning of period			$ 297,794	$ 229,927		$ 155,429	297,794	155,429	$ 155,429	155,429
Cash, end of period	$ 155,429	$ 242,565			$ 229,927		242,565	229,927		$ 297,794	$ 155,429
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid (recovered)							52,641	35,375
Interest paid							$ 17,608	$ 17,608
NON-CASH TRANSACTION:
Exchange of common shares of parent company, held as other invested assets at fair value, for preferred shares of an affiliated company, held as other invested assets at fair value	$ 1,773,214

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General

6 Months Ended

Jun. 30, 2017

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) and the "Company" means Holdings and its subsidiaries.

During the third quarter of 2016, the Company established domestic subsidiaries, Everest Premier Insurance Company ("Everest Premier") and Everest Denali Insurance Company ("Everest Denali"), which will be used in the continued expansion of the Insurance operations.

Effective August 24, 2016, the Company sold its wholly-owned subsidiary, Heartland Crop Insurance Company ("Heartland"), a managing agent for crop insurance, to CGB Diversified Services, Inc. ("CGB"). The operating results of Heartland for the period owned are included within the Company's financial statements.

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Basis Of Presentation

6 Months Ended

Jun. 30, 2017

Basis Of Presentation [Abstract]

Basis Of Presentation

2.BASIS OF PRESENTATION

The unaudited consolidated financial statements of the Company for the three and six months ended June 30, 2017 and 2016 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, 2016 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 six months ended June 30, 2017 and 2016 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, 2016, 2015 and 2014 included in the Company's most recent Form 10-K filing.

All intercompany accounts and transactions have been eliminated.

Certain reclassifications and format changes have been made to prior years' amounts to conform to the 2017 presentation.

Application of Recently Issued Accounting Standard Changes.

Disclosures about Short-Duration Contracts. In May 2015, the FASB issued ASU 2015-09, authoritative guidance regarding required disclosures associated with short duration insurance contracts.  The new disclosure requirements focus on information about initial claim estimates and subsequent claim estimate adjustment, methodologies in estimating claims and the timing, frequency and severity of claims related to short duration insurance contracts. This guidance is effective for annual reporting periods beginning after December 15, 2015 and interim reporting periods beginning after December 15, 2016. The Company implemented this guidance in the fourth quarter of 2016.

Disclosures for Investments in Certain Entities that Calculate Net Asset Value Per Share.  In May 2015, the FASB issued ASU 2015-07, which removes the requirement to categorize, within the fair value hierarchy, investments for which fair values are estimated using the net asset value practical expedient provided by Accounting Standards Codification 820, Fair Value Measurement.  The updated guidance is effective for annual reporting periods beginning after December 15, 2015.  The adoption did not have a material impact on the Company's financial statements.

Debt Issuance Costs. In April 2015, The FASB issued ASU 2015–03, authoritative guidance on the presentation of debt issuance costs.  This guidance requires that debt issuance costs be presented within the balance sheet as a reduction of the carrying value of the debt liability, rather than as a separate asset.  This guidance is effective for annual reporting periods beginning after December 15, 2015 and related interim reporting periods.  The Company implemented this guidance effective in the second quarter of 2016.  This adoption did not have any material impact on the Company's financial statements.

Consolidation. In February 2015, the FASB issued ASU 2015-02, authoritative guidance regarding consolidation of reporting entities.  The new guidance focuses on the required evaluation of whether certain legal entities should be consolidated.  This guidance is effective for annual and interim reporting periods beginning after December 15, 2015.  The adoption did not have a material impact on the Company's financial statements.

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Revisions To Financial Statements

6 Months Ended

Jun. 30, 2017

Revisions To Financial Statements [Abstract]

Revisions To Financial Statements

3.  REVISIONS TO FINANCIAL STATEMENTS

In preparing its current period financial statements, the Company altered its processing of ceding certain commissions and deferred acquisition costs under an affiliated quota share agreement.  In previous reporting periods, these expenses were ceded based upon a quarter lag. In the current period, the quarter lag was eliminated and these expenses are now recorded on a current quarter basis.  Although management determined that the impact of the ceding lag was not material to prior period financial statements, the impact of eliminating the ceding lag would have significantly impacted results within the current period.  As a result, prior period balances have been revised in the applicable financial statements and corresponding footnotes to eliminate the impact of the previous recording lag.

Management assessed the materiality of this change within prior period financial statements based upon SEC Staff Accounting Bulletin Number 99, Materiality, which is since codified in Accounting Standards Codification ("ASC") 250, Accounting Changes and Error Corrections.  In accordance with ASC 250, the prior period comparative financial statements that are presented herein have been revised.

The following tables present line items for prior period financial statements that have been affected by the revision. For these line items, the tables detail the amounts as previously reported, the impact upon those line items due to the revision, and the amounts as currently revised within the financial statements.

CONSOLIDATED BALANCE SHEETS	March 31, 2017
	As Previously		Impact of
	Reported		Revisions			As Revised
(Dollars in thousands, except par value per share)
ASSETS:
Deferred acquisition costs	$	62,308	$	(4,994	)	$	57,314
TOTAL ASSETS	$	17,587,840	$	(4,994	)	$	17,582,846
LIABILITIES:
Other net payable to reinsurers	$	832,307	$	(41,746	)	$	790,561
Income taxes		223,629		5,625			229,254
Total liabilities		12,139,623		(36,121	)		12,103,502
STOCKHOLDERS EQUITY:
Retained earnings		5,085,352		31,127			5,116,479
Total stockholder's equity		5,448,217		31,127			5,479,344
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$	17,587,840	$	(4,994	)	$	17,582,846

CONSOLIDATED BALANCE SHEETS	December 31, 2016							December 31, 2015
	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands, except par value per share)
ASSETS:
Deferred acquisition costs	$	73,924	$	(5,303	)	$	68,621	$	92,651	$	(6,249	)	$	86,402
TOTAL ASSETS	$	17,088,739	$	(5,303	)	$	17,083,436	$	16,695,203	$	(6,249	)	$	16,688,954
LIABILITIES:
Other net payable to reinsurers	$	860,391	$	(45,093	)	$	815,298	$	1,225,260	$	(37,480	)	$	1,187,780
Income taxes		142,143		6,797			148,940		68,024		4,132			72,156
Total liabilities		11,823,179		(38,296	)		11,784,883		11,763,992		(33,348	)		11,730,644
STOCKHOLDERS EQUITY:
Retained earnings		4,914,308		32,993			4,947,301		4,618,558		27,099			4,645,657
Total stockholder's equity		5,265,560		32,993			5,298,553		4,931,211		27,099			4,958,310
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$	17,088,739	$	(5,303	)	$	17,083,436	$	16,695,203	$	(6,249	)	$	16,688,954

CONSOLIDATED STATEMENTS OF OPERATIONS	Year Ended December 31, 2016							Year Ended December 31, 2015
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	289,982	$	(8,558	)	$	281,424	$	315,069	$	(2,744	)	$	312,325
Total claims and expenses		1,928,940		(8,558	)		1,920,382		1,892,062		(2,744	)		1,889,318
INCOME (LOSS) BEFORE TAXES		390,433		8,558			398,991		604,542		2,744			607,286
Income tax expense (benefit)		94,683		2,664			97,347		191,889		3,007			194,896
NET INCOME (LOSS)	$	295,750	$	5,894		$	301,644	$	412,653	$	(263	)	$	412,390
COMPREHENSIVE INCOME (LOSS)	$	321,571	$	5,894		$	327,465	$	345,998	$	(263	)	$	345,735

CONSOLIDATED STATEMENTS OF OPERATIONS	Year Ended December 31, 2014							Three Months Ended March 31, 2017
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	339,402	$	(427	)	$	338,975	$	49,470	$	3,037		$	52,507
Total claims and expenses		1,930,749		(427	)		1,930,322		411,543		3,037			414,580
INCOME (LOSS) BEFORE TAXES		657,688		427			658,115		247,984		(3,037	)		244,947
Income tax expense (benefit)		203,562		1,125			204,687		76,940		(1,171	)		75,769
NET INCOME (LOSS)	$	454,126	$	(698	)	$	453,428	$	171,044	$	(1,866	)	$	169,178
COMPREHENSIVE INCOME (LOSS)	$	370,997	$	(698	)	$	370,299	$	182,587	$	(1,866	)	$	180,721

CONSOLIDATED STATEMENTS OF OPERATIONS	Three Months Ended September 30, 2016							Nine Months Ended September 30, 2016
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	85,563	$	(2,785	)	$	82,778	$	226,511	$	(6,959	)	$	219,552
Total claims and expenses		462,009		(2,785	)		459,224		1,377,175		(6,959	)		1,370,216
INCOME (LOSS) BEFORE TAXES		95,943		2,785			98,728		249,064		6,959			256,023
Income tax expense (benefit)		21,145		1,280			22,425		66,990		2,368			69,358
NET INCOME (LOSS)	$	74,798	$	1,505		$	76,303	$	182,074	$	4,591		$	186,665
COMPREHENSIVE INCOME (LOSS)	$	74,465	$	1,505		$	75,970	$	299,559	$	4,591		$	304,150

CONSOLIDATED STATEMENTS OF OPERATIONS	Three Months Ended June 30, 2016							Six Months Ended June 30, 2016
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	72,126	$	(1,717	)	$	70,409	$	140,948	$	(4,174	)	$	136,774
Total claims and expenses		479,860		(1,717	)		478,143		915,166		(4,174	)		910,992
INCOME (LOSS) BEFORE TAXES		101,332		1,717			103,049		153,121		4,174			157,295
Income tax expense (benefit)		32,982		695			33,677		45,845		1,088			46,933
NET INCOME (LOSS)	$	68,350	$	1,022		$	69,372	$	107,276	$	3,086		$	110,362
COMPREHENSIVE INCOME (LOSS)	$	124,381	$	1,022		$	125,403	$	225,094	$	3,086		$	228,180

CONSOLIDATED STATEMENTS OF OPERATIONS	Three Months Ended March 31, 2016
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of
	Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	68,822	$	(2,457	)	$	66,365
Total claims and expenses		435,306		(2,457	)		432,849
INCOME (LOSS) BEFORE TAXES		51,789		2,457			54,246
Income tax expense (benefit)		12,863		393			13,256
NET INCOME (LOSS)	$	38,926	$	2,064		$	40,990
COMPREHENSIVE INCOME (LOSS)	$	100,713	$	2,064		$	102,777

CONSOLIDATED STATEMENTS OF	Year Ended December 31, 2016						Year Ended December 31, 2015
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of				As Previously		Impact of
	Reported		Revisions		As Revised		Reported		Revisions			As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	4,618,558	$	27,099	$	4,645,657	$	4,205,905	$	27,362		$	4,233,267
Net income (loss)		295,750		5,894		301,644		412,653		(263	)		412,390
Balance, end of period		4,914,308		32,993		4,947,301		4,618,558		27,099			4,645,657
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	5,265,560	$	32,993	$	5,298,553	$	4,931,211	$	27,099		$	4,958,310

CONSOLIDATED STATEMENTS OF	Year Ended December 31, 2014							Three Months Ended March 31, 2017
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	3,751,779	$	28,060		$	3,779,839	$	4,914,308	$	32,993		$	4,947,301
Net income (loss)		454,126		(698	)		453,428		171,044		(1,866	)		169,178
Balance, end of period		4,205,905		27,362			4,233,267		5,085,352		31,127			5,116,479
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	4,572,717	$	27,362		$	4,600,079	$	5,448,217	$	31,127		$	5,479,344

CONSOLIDATED STATEMENTS OF	Three Months Ended September 30, 2016						Nine Months Ended September 30, 2016
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of				As Previously		Impact of
	Reported		Revisions		As Revised		Reported		Revisions		As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	4,725,834	$	30,185	$	4,756,019	$	4,618,558	$	27,099	$	4,645,657
Net income (loss)		74,798		1,505		76,303		182,074		4,591		186,665
Balance, end of period		4,800,632		31,690		4,832,322		4,800,632		31,690		4,832,322
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	5,240,955	$	31,690	$	5,272,645	$	5,240,955	$	31,690	$	5,272,645

CONSOLIDATED STATEMENTS OF	Three Months Ended June 30, 2016						Six Months Ended June 30, 2016
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of				As Previously		Impact of
	Reported		Revisions		As Revised		Reported		Revisions		As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	4,657,484	$	29,163	$	4,686,647	$	4,618,558	$	27,099	$	4,645,657
Net income (loss)		68,350		1,022		69,372		107,276		3,086		110,362
Balance, end of period		4,725,834		30,185		4,756,019		4,725,834		30,185		4,756,019
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	5,164,053	$	30,185	$	5,194,238	$	5,164,053	$	30,185	$	5,194,238

CONSOLIDATED STATEMENTS OF	Three Months Ended March 31, 2016
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of
	Reported		Revisions		As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	4,618,558	$	27,099	$	4,645,657
Net income (loss)		38,926		2,064		40,990
Balance, end of period		4,657,484		29,163		4,686,647
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	5,036,717	$	29,163	$	5,065,880

CONSOLIDATED STATEMENTS OF CASH FLOWS	Year Ended December 31, 2016									Year Ended December 31, 2015
	As Previously			Impact of						As Previously		Impact of
	Reported			Revisions			As Revised			Reported		Revisions			As Revised
(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	295,750		$	5,894		$	301,644		$	412,653	$	(263	)	$	412,390
Decrease (increase) in income taxes		60,325			2,666			62,991			57,487		3,007			60,494
Increase (decrease) in other net payable to reinsurers		(364,242	)		(7,614	)		(371,856	)		204,526		(8,590	)		195,936
Change in other assets and liabilities, net		16,090			(946	)		15,144			7,499		5,846			13,345

CONSOLIDATED STATEMENTS OF CASH FLOWS	Year Ended December 31, 2014							Three Months Ended March 31, 2017
	As Previously		Impact of					As Previously			Impact of
	Reported		Revisions			As Revised		Reported			Revisions			As Revised
(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	454,126	$	(698	)	$	453,428	$	171,044		$	(1,866	)	$	169,178
Decrease (increase) in income taxes		68,206		1,125			69,331		75,304			(1,172	)		74,132
Increase (decrease) in other net payable to reinsurers		5,130		(3,216	)		1,914		(30,525	)		3,347			(27,178	)
Change in other assets and liabilities, net		81,388		2,789			84,177		18,204			(309	)		17,895

CONSOLIDATED STATEMENTS OF CASH FLOWS	Nine Months Ended September 30, 2016									Six Months Ended June 30, 2016
	As Previously			Impact of						As Previously			Impact of
	Reported			Revisions			As Revised			Reported			Revisions			As Revised
(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	182,074		$	4,591		$	186,665		$	107,276		$	3,086		$	110,362
Decrease (increase) in income taxes		33,279			2,368			35,647			8,190			1,089			9,279
Increase (decrease) in other net payable to reinsurers		(209,260	)		(6,764	)		(216,024	)		(370,242	)		(3,111	)		(373,353	)
Change in other assets and liabilities, net		(124,955	)		(195	)		(125,150	)		14,216			(1,064	)		13,152

CONSOLIDATED STATEMENTS OF CASH FLOWS	Three Months Ended March 31, 2016
	As Previously			Impact of
	Reported			Revisions			As Revised
(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	38,926		$	2,064		$	40,990
Decrease (increase) in income taxes		6,546			393			6,939
Increase (decrease) in other net payable to reinsurers		(106,588	)		(1,122	)		(107,710	)
Change in other assets and liabilities, net		24,496			(1,335	)		23,161

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Investments

6 Months Ended

Jun. 30, 2017

Investments [Abstract]

Investments

4.  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 June 30, 2017
	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	$	667,000	$	2,961	$	(3,184	)	$	666,777	$	-
Obligations of U.S. states and political subdivisions		679,940		22,970		(6,127	)		696,783		-
Corporate securities		2,274,212		40,765		(13,976	)		2,301,001		908
Asset-backed securities		189,598		433		(42	)		189,989		-
Mortgage-backed securities
Commercial		73,127		507		(389	)		73,245		-
Agency residential		688,735		2,163		(7,217	)		683,681		-
Non-agency residential		61		9		-			70		-
Foreign government securities		489,750		20,205		(8,568	)		501,387		-
Foreign corporate securities		1,009,145		28,358		(10,408	)		1,027,095		319
Total fixed maturity securities	$	6,071,568	$	118,371	$	(49,911	)	$	6,140,028	$	1,227

	At December 31, 2016
	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	$	693,005	$	2,509	$	(4,434	)	$	691,080	$	-
Obligations of U.S. states and political subdivisions		723,938		18,016		(11,970	)		729,984		-
Corporate securities		2,119,324		50,665		(15,786	)		2,154,203		4,868
Asset-backed securities		136,826		330		(129	)		137,027		-
Mortgage-backed securities
Commercial		75,435		510		(452	)		75,493		-
Agency residential		721,772		2,365		(8,993	)		715,144		-
Non-agency residential		76		12		-			88		-
Foreign government securities		495,572		22,088		(10,383	)		507,277		-
Foreign corporate securities		944,546		30,015		(14,361	)		960,200		175
Total fixed maturity securities	$	5,910,494	$	126,510	$	(66,508	)	$	5,970,496	$	5,043

^(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 June 30, 2017				At December 31, 2016
	Amortized		Market		Amortized		Market
(Dollars in thousands)	Cost		Value		Cost		Value
Fixed maturity securities – available for sale
Due in one year or less	$	438,873	$	439,218	$	394,401	$	392,824
Due after one year through five years		2,912,173		2,932,487		2,925,786		2,955,325
Due after five years through ten years		1,043,485		1,063,492		879,762		894,166
Due after ten years		725,516		757,846		776,436		800,429
Asset-backed securities		189,598		189,989		136,826		137,027
Mortgage-backed securities
Commercial		73,127		73,245		75,435		75,493
Agency residential		688,735		683,681		721,772		715,144
Non-agency residential		61		70		76		88
Total fixed maturity securities	$	6,071,568	$	6,140,028	$	5,910,494	$	5,970,496

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						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Increase (decrease) during the period between the market value and cost
of investments carried at market value, and deferred taxes thereon:
Fixed maturity securities	$	32		$	53,863		$	12,274		$	123,689
Fixed maturity securities, other-than-temporary impairment		(317	)		6,446			(3,816	)		6,643
Other invested assets		821			-			1,265			-
Change in unrealized  appreciation (depreciation), pre-tax		536			60,309			9,723			130,332
Deferred tax benefit (expense)		(299	)		(18,852	)		(4,739	)		(43,291	)
Deferred tax benefit (expense), other-than-temporary impairment		111			(2,256	)		1,336			(2,325	)
Change in unrealized appreciation (depreciation),
net of deferred taxes, included in stockholder's equity	$	348		$	39,201		$	6,320		$	84,716

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.

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 June 30, 2017 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	$	261,624	$	(3,184	)	$	-	$	-		$	261,624	$	(3,184	)
Obligations of U.S. states and political subdivisions		157,890		(6,127	)		-		-			157,890		(6,127	)
Corporate securities		528,750		(10,097	)		68,699		(3,879	)		597,449		(13,976	)
Asset-backed securities		56,504		(39	)		2,525		(3	)		59,029		(42	)
Mortgage-backed securities
Commercial		13,797		(317	)		2,991		(72	)		16,788		(389	)
Agency residential		445,347		(5,091	)		82,351		(2,126	)		527,698		(7,217	)
Non-agency residential		-		-			-		-			-		-
Foreign government securities		177,440		(2,308	)		56,133		(6,260	)		233,573		(8,568	)
Foreign corporate securities		201,847		(2,108	)		73,620		(8,300	)		275,467		(10,408	)
Total fixed maturity securities	$	1,843,199	$	(29,271	)	$	286,319	$	(20,640	)	$	2,129,518	$	(49,911	)

	Duration of Unrealized Loss at June 30, 2017 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	$	157,063	$	(277	)	$	18,588	$	(3,005	)	$	175,651	$	(3,282	)
Due in one year through five years		709,510		(9,577	)		147,334		(13,549	)		856,844		(23,126	)
Due in five years through ten years		297,303		(7,601	)		32,309		(1,879	)		329,612		(9,480	)
Due after ten years		163,675		(6,369	)		221		(6	)		163,896		(6,375	)
Asset-backed securities		56,504		(39	)		2,525		(3	)		59,029		(42	)
Mortgage-backed securities		459,144		(5,408	)		85,342		(2,198	)		544,486		(7,606	)
Total fixed maturity securities	$	1,843,199	$	(29,271	)	$	286,319	$	(20,640	)	$	2,129,518	$	(49,911	)

The aggregate market value and gross unrealized losses related to investments in an unrealized loss position at June 30, 2017 were $2,129,518 thousand and $49,911 thousand, respectively.  The market value of securities for the single issuer whose securities comprised the largest unrealized loss position at June 30, 2017, (the U.S. Government) did not exceed 5% 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 $29,271 thousand of unrealized losses related to fixed maturity securities that have been in an unrealized loss position for less than one year were generally comprised of obligations of domestic corporate securities, agency residential mortgage-backed securities and U.S. states and political subdivisions. Of these unrealized losses, $23,626 thousand were related to securities that were rated investment grade by at least one nationally recognized statistical rating agency.  The $20,640 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, as well as foreign government securities.  Of these unrealized losses, $17,428 thousand were related to securities that were rated investment grade by at least one nationally recognized statistical rating agency.  There was no gross unrealized depreciation for mortgage-backed securities related to sub-prime and alt-A loans. 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, 2016 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	$	469,571	$	(4,434	)	$	-	$	-		$	469,571	$	(4,434	)
Obligations of U.S. states and political subdivisions		221,088		(11,486	)		564		(484	)		221,652		(11,970	)
Corporate securities		431,757		(10,121	)		118,172		(5,665	)		549,929		(15,786	)
Asset-backed securities		35,065		(122	)		5,745		(7	)		40,810		(129	)
Mortgage-backed securities
Commercial		27,230		(391	)		3,060		(61	)		30,290		(452	)
Agency residential		487,000		(6,320	)		90,740		(2,673	)		577,740		(8,993	)
Non-agency residential		-		-			-		-			-		-
Foreign government securities		218,171		(2,713	)		61,542		(7,670	)		279,713		(10,383	)
Foreign corporate securities		264,939		(4,950	)		75,489		(9,411	)		340,428		(14,361	)
Total fixed maturity securities	$	2,154,821	$	(40,537	)	$	355,312	$	(25,971	)	$	2,510,133	$	(66,508	)

	Duration of Unrealized Loss at December 31, 2016 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	$	111,926	$	(322	)	$	21,691	$	(3,625	)	$	133,617	$	(3,947	)
Due in one year through five years		1,015,066		(10,567	)		190,960		(16,511	)		1,206,026		(27,078	)
Due in five years through ten years		243,082		(10,369	)		41,371		(2,961	)		284,453		(13,330	)
Due after ten years		235,452		(12,446	)		1,745		(133	)		237,197		(12,579	)
Asset-backed securities		35,065		(122	)		5,745		(7	)		40,810		(129	)
Mortgage-backed securities		514,230		(6,711	)		93,800		(2,734	)		608,030		(9,445	)
Total fixed maturity securities	$	2,154,821	$	(40,537	)	$	355,312	$	(25,971	)	$	2,510,133	$	(66,508	)

The aggregate market value and gross unrealized losses related to investments in an unrealized loss position at December 31, 2016 were $2,510,133 thousand and $66,508 thousand, respectively.  The market value of securities for the single issuer whose securities comprised the largest unrealized loss position at December 31, 2016, did not exceed 1.0% 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 $40,537 thousand of unrealized losses related to fixed maturity securities that have been in an unrealized loss position for less than one year were generally comprised of obligations of U.S. states and political subdivisions, domestic and foreign corporate securities, agency residential mortgage-backed securities and foreign government securities.  Of these unrealized losses, $36,646 thousand were related to securities that were rated investment grade by at least one nationally recognized statistical rating agency.  The $25,971 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.  Of these unrealized losses $22,882 thousand is attributable to net unrealized foreign exchange losses, as the U.S. dollar has strengthened against other currencies.  There was no gross unrealized depreciation for mortgage-backed securities related to sub-prime and alt-A loans. 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 components of net investment income are presented in the tables below for the periods indicated:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Fixed maturities	$	49,601		$	44,795		$	96,581		$	90,121
Equity securities		6,370			8,734			13,118			17,882
Short-term investments and cash		590			251			980			555
Other invested assets
Limited partnerships		8,978			14,192			8,754			11,678
Dividends from preferred shares of affiliate		7,758			7,758			15,516			15,516
Other		1,496			729			2,748			(183	)
Gross investment income before adjustments		74,793			76,459			137,697			135,569
Funds held interest income (expense)		978			974			2,917			3,628
Interest income from Parent		1,075			1,075			2,150			2,150
Gross investment income		76,846			78,508			142,764			141,347
Investment expenses		(4,946	)		(4,636	)		(10,015	)		(9,030	)
Net investment income	$	71,900		$	73,872		$	132,749		$	132,317
(Some amounts may not reconcile due to rounding.)

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 $364,196 thousand in limited partnerships at June 30, 2017.  These commitments will be funded when called in accordance with the partnership agreements, which have investment periods that expire, unless extended, through 2023.

The Company's other invested assets at June 30, 2017 and December 31, 2016 included $142,964 thousand and $57,126 thousand, respectively, related to a private placement liquidity sweep facility. The primary purpose of the facility is to enhance the Company's return on its short-term investments and cash positions. The facility invests in high quality, short-duration securities and permits daily liquidity.

Other invested assets, at fair value, as of June 30, 2017 and December 31, 2016, were comprised of preferred shares held in Preferred Holdings, an affiliated company.

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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Fixed maturity securities, market value:
Other-than-temporary impairments	$	(1,574	)	$	(1,391	)	$	(2,706	)	$	(24,406	)
Gains (losses) from sales		6,507			2,244			12,972			(14,611	)
Fixed maturity securities, fair value:
Gain (losses) from sales		-			(1,854	)		-			(1,854	)
Gains (losses) from fair value adjustments		-			1,571			-			1,339
Equity securities, fair value:
Gains (losses) from sales		604			(7,636	)		4,944			(15,586	)
Gains (losses) from fair value adjustments		14,943			36,987			52,361			18,662
Other invested assets		(2	)		-			(1	)		-
Other invested assets, fair value:
Gains (losses) from fair value adjustments		(112,769	)		(756	)		(42,094	)		(756	)
Short-term investment gains (losses)		-			-			1			-
Total net realized capital gains (losses)	$	(92,291	)	$	29,165		$	25,477		$	(37,212	)

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.

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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Proceeds from sales of fixed maturity securities	$	359,496		$	110,429		$	652,490		$	298,475
Gross gains from sales		7,748			6,154			15,743			7,618
Gross losses from sales		(1,241	)		(5,764	)		(2,771	)		(24,083	)
Proceeds from sales of equity securities	$	115,602		$	335,831		$	249,653		$	421,980
Gross gains from sales		3,562			4,853			11,575			6,635
Gross losses from sales		(2,958	)		(12,489	)		(6,631	)		(22,221	)

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Reserves For Losses And LAE

6 Months Ended

Jun. 30, 2017

Reserves For Losses And LAE [Abstract]

Reserves For Losses And LAE

5.  RESERVES FOR LOSSES AND LAE

Activity in the reserve for losses and LAE is summarized for the periods indicated:

	Six Months Ended			Twelve Months Ended
	June 30,			At December 31,
(Dollars in thousands)	2017			2016
Gross reserves at beginning of period	$	8,331,288		$	7,940,720
Less reinsurance recoverables		(4,199,791	)		(3,875,073	)
Net reserves at beginning of period		4,131,497			4,065,647
Incurred related to:
Current year		584,656			1,441,962
Prior years		2,294			(91,682	)
Total incurred losses and LAE		586,950			1,350,280
Paid related to:
Current year		165,100			400,489
Prior years		493,405			892,207
Total paid losses and LAE		658,505			1,292,696
Foreign exchange/translation adjustment		(6,122	)		8,266
Net reserves at end of period		4,053,820			4,131,497
Plus reinsurance recoverables		4,232,779			4,199,791
Gross reserves at end of period	$	8,286,599		$	8,331,288

Incurred prior years' reserves increased by $2,294 thousand and decreased by $91,682 thousand for the six months ended June 30, 2017 and the year ended December 31, 2016, respectively.

The decrease for the year ended December 31, 2016 was attributable to favorable development in the reinsurance segments of $187,909 thousand related primarily to property and short-tail business in the U.S., property business in Canada, Latin America, Middle East and Africa, as well as favorable development on prior year catastrophe losses, partially offset by $45,668 thousand of adverse development on A&E reserves. Part of the favorable development in the reinsurance segment related to the 2015 loss from the explosion at the Chinese port of Tianjin. In 2015, this loss was originally estimated to be $21,566 thousands. At December 31, 2016, this loss was projected to be $6,261 thousands resulting in $15,305 thousands of favorable development in 2016. The net favorable development in the reinsurance segments was partially offset by $96,227 thousand of unfavorable development in the insurance segment primarily related to run-off construction liability and umbrella program business.

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Fair Value

6 Months Ended

Jun. 30, 2017

Fair Value [Abstract]

Fair Value

6.  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 46 private placement securities, the investment manager's valuation committee valued the 46 securities at $89,291 thousand at June 30, 2017.  Due to the unavailability of prices for forty-two private placement securities, the investment manager's valuation committee valued the forty-two securities at $86,536 thousand at December 31, 2016.

The Company internally manages a public equity portfolio which had a fair value at June 30, 2017 and December 31, 2016 of $169,165 thousand and $133,755 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. In limited circumstances when broker prices are not available for private placements, the Company will value the securities using comparable market information.

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, was categorized as Level 3 at June 30, 2017 and December 31, 2016, since it represented a privately placed convertible preferred stock issued by an affiliate.  The stock was received in exchange for shares of the Company's parent.  The fair value of the preferred stock at June 30, 2017 and December 31, 2016 was determined using a pricing model.

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)	June 30, 2017		(Level 1)		(Level 2)		(Level 3)
Assets:
Fixed maturities, market value
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	666,777	$	-	$	666,777	$	-
Obligations of U.S. States and political subdivisions		696,783		-		696,783		-
Corporate securities		2,301,001		-		2,214,861		86,140
Asset-backed securities		189,989		-		189,989		-
Mortgage-backed securities
Commercial		73,245		-		73,245		-
Agency residential		683,681		-		683,681		-
Non-agency residential		70		-		70		-
Foreign government securities		501,387		-		501,387		-
Foreign corporate securities		1,027,095		-		1,023,944		3,151
Total fixed maturities, market value		6,140,028		-		6,050,737		89,291
Equity securities, fair value		934,110		893,660		40,450		-
Other invested assets, fair value		1,724,532		-		-		1,724,532

There were no transfers between Level 1 and Level 2 for the six months ended June 30, 2017.

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, 2016		(Level 1)		(Level 2)		(Level 3)
Assets:
Fixed maturities, market value
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	691,080	$	-	$	691,080	$	-
Obligations of U.S. States and political subdivisions		729,984		-		729,984		-
Corporate securities		2,154,203		-		2,089,006		65,197
Asset-backed securities		137,027		-		137,027		-
Mortgage-backed securities
Commercial		75,493		-		75,493		-
Agency residential		715,144		-		715,144		-
Non-agency residential		88		-		88		-
Foreign government securities		507,277		-		507,277		-
Foreign corporate securities		960,200		-		957,662		2,538
Total fixed maturities, market value		5,970,496		-		5,902,761		67,735
Equity securities, fair value		887,800		827,237		60,563		-
Other invested assets, fair value		1,766,626		-		-		1,766,626

In addition $52,139 thousand and $18,801 thousand of investments within other invested assets on the consolidated balance sheets as of June 30, 2017 and December 31, 2016, respectively, are not included within the fair value hierarchy tables as the assets are valued using the NAV practical expedient guidance within ASU 2015-07.

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

	Three Months Ended June 30, 2017						Six Months Ended June 30, 2017
	Corporate		Foreign				Corporate		Foreign
(Dollars in thousands)	Securities		Corporate		Total		Securities		Corporate		Total
Beginning balance	$	84,322	$	2,802	$	87,124	$	65,197	$	2,538	$	67,735
Total gains or (losses) (realized/unrealized)
Included in earnings		711		128		839		925		104		1,029
Included in other comprehensive income (loss)		172		-		172		143		-		143
Purchases, issuances and settlements		935		221		1,156		19,875		509		20,384
Transfers in and/or (out) of Level 3		-		-		-		-		-		-
Ending balance	$	86,140	$	3,151	$	89,291	$	86,140	$	3,151	$	89,291
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 June 30, 2016								Six Months Ended June 30, 2016
	Corporate			Foreign					Corporate			Foreign
(Dollars in thousands)	Securities			Corporate		Total			Securities			Corporate			Total
Beginning balance	$	15,706		$	596	$	16,302		$	3,933		$	1,593		$	5,526
Total gains or (losses) (realized/unrealized)
Included in earnings		(18	)		-		(18	)		(10	)		(997	)		(1,007	)
Included in other comprehensive income (loss)		(27	)		1,425		1,398			(33	)		1,425			1,392
Purchases, issuances and settlements		16,749			-		16,749			28,520			-			28,520
Transfers in and/or (out) of Level 3		-			-		-			-			-			-
Ending balance	$	32,410		$	2,021	$	34,431		$	32,410		$	2,021		$	34,431
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	$	-		$	-	$	-		$	-		$	(997	)	$	(997	)

The following table presents the activity under Level 3, fair value measurements using significant unobservable inputs by other invested assets, for the periods indicated:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Other invested assets, fair value:
Beginning balance	$	1,837,302		$	1,773,214		$	1,766,626		$	1,773,214
Total gains or (losses) (realized/unrealized)
Included in earnings		(112,769	)		(756	)		(42,094	)		(756	)
Included in other comprehensive income (loss)		-			-			-			-
Purchases, issuances and settlements		-			-			-			-
Transfers in and/or (out) of Level 3		-			-			-			-
Ending balance		1,724,532		$	1,772,458		$	1,724,532		$	1,772,458
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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Commitments And Contingencies

6 Months Ended

Jun. 30, 2017

Commitments And Contingencies [Abstract]

Commitments And Contingencies

7.  COMMITMENTS AND 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 June 30,		At December 31,
(Dollars in thousands)	2017		2016
The Prudential	$	146,923	$	146,507
Unaffiliated life insurance company		33,107		33,860

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Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2017

Comprehensive Income (Loss) [Abstract]

Comprehensive Income (Loss)

8.  COMPREHENSIVE INCOME (LOSS)

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

	Three Months Ended June 30, 2017									Six Months Ended June 30, 2017
(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	$	5,784		$	(1,753	)	$	4,031		$	23,804		$	(8,060	)	$	15,744
URA(D) on securities - OTTI		(317	)		111			(206	)		(3,816	)		1,336			(2,480	)
Reclassification of net realized losses (gains) included in net income (loss)		(4,931	)		1,454			(3,477	)		(10,265	)		3,321			(6,944	)
Foreign currency translation adjustments		8,265			(2,893	)		5,372			13,752			(4,813	)		8,939
Benefit plan actuarial net gain (loss)		-			-			-			-			-			-
Reclassification of amortization of net gain (loss) included in net income (loss)		3,083			(1,079	)		2,004			6,166			(2,158	)		4,008
Total other comprehensive income (loss)	$	11,884		$	(4,160	)	$	7,724		$	29,641		$	(10,374	)	$	19,267
(Some amounts may not reconcile due to rounding)

	Three Months Ended June 30, 2016									Six Months Ended June 30, 2016
(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	$	53,960		$	(18,886	)	$	35,074		$	83,916	$	(29,370	)	$	54,546
URA(D) on securities - OTTI		6,446			(2,256	)		4,190			6,643		(2,325	)		4,318
Reclassification of net realized losses (gains) included in net income (loss)		(97	)		34			(63	)		39,773		(13,921	)		25,852
Foreign currency translation adjustments		23,830			(8,341	)		15,489			46,807		(16,386	)		30,421
Benefit plan actuarial net gain (loss)		-			-			-			-		-			-
Reclassification of amortization of net gain (loss) included in net income (loss)		2,063			(722	)		1,341			4,125		(1,444	)		2,681
Total other comprehensive income (loss)	$	86,202		$	(30,171	)	$	56,031		$	181,264	$	(63,446	)	$	117,818
(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						Six Months Ended
	June 30,						June 30,						Affected line item within the statements of
AOCI component	2017			2016			2017			2016			operations and comprehensive income (loss)
(Dollars in thousands)
URA(D) on securities	$	(4,931	)	$	(97	)	$	(10,265	)	$	39,773		Other net realized capital gains (losses)
		1,454			34			3,321			(13,921	)	Income tax expense (benefit)
	$	(3,477	)	$	(63	)	$	(6,944	)	$	25,852		Net income (loss)
Benefit plan net gain (loss)	$	3,083		$	2,063		$	6,166		$	4,125		Other underwriting expenses
		(1,079	)		(722	)		(2,158	)		(1,444	)	Income tax expense (benefit)
	$	2,004		$	1,341		$	4,008		$	2,681		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:

	Six Months Ended			Twelve Months Ended
	June 30,			December 31,
(Dollars in thousands)	2017			2016
Beginning balance of URA (D) on securities	$	39,041		$	13,654
Current period change in URA (D) of investments - temporary		8,800			22,063
Current period change in URA (D) of investments - non-credit OTTI		(2,480	)		3,324
Ending balance of URA (D) on securities		45,361			39,041
Beginning balance of foreign currency translation adjustments		(9,852	)		(12,701	)
Current period change in foreign currency translation adjustments		8,939			2,849
Ending balance of foreign currency translation adjustments		(913	)		(9,852	)
Beginning balance of benefit plan net gain (loss)		(65,504	)		(63,089	)
Current period change in benefit plan net gain (loss)		4,008			(2,415	)
Ending balance of benefit plan net gain (loss)		(61,496	)		(65,504	)
Ending balance of accumulated other comprehensive income (loss)	$	(17,048	)	$	(36,315	)

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Collateralized Reinsurance And Trust Agreements

6 Months Ended

Jun. 30, 2017

Collateralized Reinsurance And Trust Agreements [Abstract]

Collateralized Reinsurance And Trust Agreements

9.  COLLATERALIZED 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 June 30, 2017, the total amount on deposit in the trust account was $649,841 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.

On December 1, 2015 the Company entered into two collateralized reinsurance agreements with Kilimanjaro Re to provide the Company with catastrophe reinsurance coverage.  These agreements are multi-year reinsurance contracts which cover named storm and earthquake events.  The first agreement provides up to $300,000 thousand of reinsurance coverage from named storms and earthquakes in the United States, Puerto Rico and Canada.  The second agreement provides up to $325,000 thousand of reinsurance coverage from named storms and earthquakes in the United States, Puerto Rico and Canada.

On April 13, 2017 the Company entered into six collateralized reinsurance agreements with Kilimanjaro Re to provide the Company with annual aggregate catastrophe reinsurance coverage.  The initial three agreements are four year reinsurance contracts which cover named storm and earthquake events.  These agreements provide up to $225,000 thousand, $400,000 thousand and $325,000 thousand, respectively, of annual aggregate reinsurance coverage from named storms and earthquakes in the United States, Puerto Rico and Canada. The subsequent three agreements are five year reinsurance contracts which cover named storm and earthquake events.  These agreements provide up to $50,000 thousand, $75,000 thousand and $175,000 thousand, respectively, of annual aggregate reinsurance coverage from named storms and earthquakes in the United States, Puerto Rico and Canada.

Kilimanjaro has financed the various property catastrophe reinsurance coverages by issuing catastrophe bonds to unrelated, external investors.  On April 24, 2014, Kilimanjaro issued $450,000 thousand of notes ("Series 2014-1 Notes").  On November 18, 2014, Kilimanjaro issued $500,000 thousand of notes ("Series 2014-2 Notes").  On December 1, 2015, Kilimanjaro issued $625,000 thousand of notes ("Series 2015-1 Notes).  On April 13, 2017, Kilimanjaro issued $950,000 thousand of notes ("Series 2017-1 Notes) and $300,000 thousand of notes ("Series 2017-2 Notes). The proceeds from the issuance of the Notes listed above 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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Senior Notes

6 Months Ended

Jun. 30, 2017

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.

June 30, 2017

December 31, 2016

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

$

396,774

$

421,764

$

396,714

$

383,612

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.

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Interest expense incurred	$	4,868	$	4,868	$	9,736	$	9,736

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Long Term Subordinated Notes

6 Months Ended

Jun. 30, 2017

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

June 30, 2017

December 31, 2016

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

$

236,511

$

223,053

$

236,462

$

204,636

During the fixed rate interest period from May 3, 2007 through May 14, 2017, interest was 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.  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 quarterly for periods from and including May 15, 2017.  The reset quarterly interest rate for May 15, 2017 to August 14, 2017 is 3.56678%.

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				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Interest expense incurred	$	3,033	$	3,937	$	6,970	$	7,874

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Segment Reporting

6 Months Ended

Jun. 30, 2017

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 brokers, surplus lines brokers and general agents mainly 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 loss adjustment expenses ("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.

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 periods indicated:

	Three Months Ended				Six Months Ended
U.S. Reinsurance	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Gross written premiums	$	474,992	$	405,530	$	1,053,951	$	942,236
Net written premiums		135,177		161,031		354,239		384,458
Premiums earned	$	202,289	$	224,618	$	410,603	$	459,861
Incurred losses and LAE		119,747		110,152		240,181		226,322
Commission and brokerage		43,173		50,130		83,545		99,861
Other underwriting expenses		14,278		12,133		28,529		25,591
Underwriting gain (loss)	$	25,091	$	52,203	$	58,348	$	108,087

	Three Months Ended				Six Months Ended
International	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Gross written premiums	$	333,535	$	348,178	$	612,110	$	586,656
Net written premiums		111,961		124,438		215,207		212,154
Premiums earned	$	113,300	$	131,285	$	231,451	$	244,458
Incurred losses and LAE		78,459		91,427		146,873		164,842
Commission and brokerage		23,790		26,140		47,325		52,250
Other underwriting expenses		9,163		7,969		18,052		15,792
Underwriting gain (loss)	$	1,888	$	5,749	$	19,201	$	11,574

	Three Months Ended						Six Months Ended
Insurance	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Gross written premiums	$	527,047		$	424,083		$	921,898		$	778,803
Net written premiums		170,774			155,786			297,302			308,712
Premiums earned	$	152,608		$	132,952		$	297,198		$	266,461
Incurred losses and LAE		99,022			136,957			199,896			243,434
Commission and brokerage		(6,450	)		(5,861	)		(17,850	)		(15,337	)
Other underwriting expenses		40,756			38,228			77,511			76,174
Underwriting gain (loss)	$	19,280		$	(36,372	)	$	37,641		$	(37,810	)

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						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Underwriting gain (loss)	$	46,259		$	21,580		$	115,190		$	81,851
Net investment income		71,900			73,872			132,749			132,317
Net realized capital gains (losses)		(92,291	)		29,165			25,477			(37,212	)
Corporate expense		(1,512	)		(2,010	)		(5,109	)		(4,346	)
Interest, fee and bond issue cost amortization expense		(7,954	)		(8,858	)		(16,813	)		(17,717	)
Other income (expense)		10,655			(10,700	)		20,510			2,402
Income (loss) before taxes	$	27,057		$	103,049		$	272,004		$	157,295

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				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Canada gross written premiums	$	36,195	$	34,630	$	64,152	$	58,216

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

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Related-Party Transactions

6 Months Ended

Jun. 30, 2017

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 is payable annually.  This transaction is presented as a Note Receivable – Affiliated in the Consolidated Balance Sheets of Holdings.  Interest income in the amount of $2,150 thousand and $2,150 thousand was recorded by Holdings for the six months ended June 30, 2017, and June 30, 2016, respectively.

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

Holdings had purchased and held 9,719,971 Common Shares of Group, which were purchased in the open market between February 2007 and March 2011.

In December, 2015, Holdings transferred the 9,719,971 Common Shares of Group, which it held as other invested assets, at fair value, valued at $1,773,214 thousand, to Preferred Holdings, an affiliated entity and subsidiary of Group, in exchange for 1,773.214 preferred shares of Preferred Holdings with a $1,000 thousand par value and 1.75% annual dividend rate.  After the exchange, Holdings no longer holds any shares or has any ownership interest in Group.

Holdings reported both its Parent shares and preferred shares in Preferred Holdings, 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 the preferred shares of Preferred Holdings and on the Parent 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				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Dividends received on preferred stock of affiliate		7,758		7,758	$	15,516		15,516

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				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Expenses incurred	$	23,046	$	20,289	$	46,229	$	41,459

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
01/01/2010-12/31/2010	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
01/01/2015-12/31/2016	Everest Re	50.0%	Bermuda Re	property / casualty business	162,500		325,000
01/01/2017	Everest Re	60.0%	Bermuda Re	property / casualty business	219,000		438,000
01/01/2010-12/31/2010	Everest Re- Canadian Branch	60.0%	Bermuda Re	property business	350,000	(1)	-
01/01/2011-12/31/2011	Everest Re- Canadian Branch	60.0%	Bermuda Re	property business	350,000	(1)	-
01/01/2012-12/31/2012	Everest Re- Canadian Branch	75.0%	Bermuda Re	property / casualty business	206,250	(1)	412,500	(1)
01/01/2013-12/31/2013	Everest Re- Canadian Branch	75.0%	Bermuda Re	property / casualty business	150,000	(1)	412,500	(1)
01/01/2014	Everest Re- Canadian Branch	75.0%	Bermuda Re	property / casualty business	262,500	(1)	412,500	(1)
01/01/2012	Everest Canada	80.0%	Everest Re- Canadian Branch	property business	-		-
(1)   Amounts shown are Canadian dollars.

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

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 and Lloyd's syndicate 2786 for the periods indicated:

	Three Months Ended				Six Months Ended
Bermuda Re	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Ceded written premiums	$	681,776	$	544,495	$	1,316,672	$	1,061,178
Ceded earned premiums		620,897		593,349		1,209,771		1,132,302
Ceded losses and LAE (a)		388,573		404,667		728,704		695,143

	Three Months Ended					Six Months Ended
Everest International	June 30,					June 30,
(Dollars in thousands)	2017			2016		2017			2016
Ceded written premiums	$	45		$	62	$	(25	)	$	31
Ceded earned premiums		46			63		(25	)		39
Ceded losses and LAE		(175	)		756		(618	)		898

	Three Months Ended				Six Months Ended
Everest Canada	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Assumed written premiums	$	13,132	$	16,228	$	25,980	$	26,427
Assumed earned premiums		11,884		12,675		24,737		23,129
Assumed losses and LAE		7,319		14,440		13,970		21,427

	Three Months Ended					Six Months Ended
Lloyd's Syndicate 2786	June 30,					June 30,
(Dollars in thousands)	2017		2016			2017		2016
Assumed written premiums	$	10,236	$	(157	)	$	18,085	$	539
Assumed earned premiums		9,797		28			16,724		116
Assumed losses and LAE		4,831		-			8,264		-

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 segregated accounts and assumed by the Company from Mt. Logan Re segregated accounts.

	Three Months Ended				Six Months Ended
Mt. Logan Re Segregated Accounts	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Ceded written premiums	$	38,703	$	29,450	$	77,882	$	70,381
Ceded earned premiums		50,708		39,356		84,665		74,228
Ceded losses and LAE		23,674		16,232		43,433		25,330
Assumed written premiums	$	3,763		3,074		6,495		6,634
Assumed earned premiums		3,763		3,074		6,495		6,634
Assumed losses and LAE		-		-		-		-

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Retirement Benefits

6 Months Ended

Jun. 30, 2017

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						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Service cost	$	3,299		$	2,896		$	6,598		$	5,793
Interest cost		2,276			2,361			4,552			4,722
Expected return on plan assets		(3,154	)		(2,484	)		(6,309	)		(4,968	)
Amortization of net (income) loss		3,041			2,014			6,081			4,028
Net periodic benefit cost	$	5,461		$	4,787		$	10,921		$	9,575

Other Benefits	Three Months Ended					Six Months Ended
	June 30,					June 30,
(Dollars in thousands)	2017			2016		2017			2016
Service cost	$	441		$	438	$	881		$	876
Interest cost		249			296		498			592
Amortization of prior service cost		(33	)		-		(66	)		-
Amortization of net (income) loss		75			48		151			96
Net periodic benefit cost	$	732		$	782	$	1,464		$	1,564
(Some amounts may not reconcile due to rounding.)

The Company did not make any contributions to the qualified pension benefit plan for the three and six months ended June 30, 2017 and 2016.

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Income Taxes

6 Months Ended

Jun. 30, 2017

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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Disposition

6 Months Ended

Jun. 30, 2017

Disposition [Abstract]

Disposition

16.  DISPOSITION

On August 24, 2016 the Company sold Heartland, its crop Managing General Agent to CGB for $49,000 thousand.  The sale agreement includes a provision for a long term strategic reinsurance relationship with CGB.  The Company has recognized an after-tax loss on the sale of Heartland of $12,942 thousand.  Under the terms of the reinsurance arrangement, there will not be a material fluctuation in the level of crop business, although it will be reflected as reinsurance rather than insurance.

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Subsequent Events

6 Months Ended

Jun. 30, 2017

Subsequent Events [Abstract]

Subsequent Events

17.  SUBSEQUENT EVENTS

The Company has evaluated known recognized and non-recognized subsequent events.  The Company does not have any subsequent events to report.

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Revisions To Financial Statements (Tables)

6 Months Ended

Jun. 30, 2017

Revisions To Financial Statements [Abstract]

Schedule of Prior Period Financial Statments

CONSOLIDATED BALANCE SHEETS	March 31, 2017
	As Previously		Impact of
	Reported		Revisions			As Revised
(Dollars in thousands, except par value per share)
ASSETS:
Deferred acquisition costs	$	62,308	$	(4,994	)	$	57,314
TOTAL ASSETS	$	17,587,840	$	(4,994	)	$	17,582,846
LIABILITIES:
Other net payable to reinsurers	$	832,307	$	(41,746	)	$	790,561
Income taxes		223,629		5,625			229,254
Total liabilities		12,139,623		(36,121	)		12,103,502
STOCKHOLDERS EQUITY:
Retained earnings		5,085,352		31,127			5,116,479
Total stockholder's equity		5,448,217		31,127			5,479,344
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$	17,587,840	$	(4,994	)	$	17,582,846

6

CONSOLIDATED BALANCE SHEETS	December 31, 2016							December 31, 2015
	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands, except par value per share)
ASSETS:
Deferred acquisition costs	$	73,924	$	(5,303	)	$	68,621	$	92,651	$	(6,249	)	$	86,402
TOTAL ASSETS	$	17,088,739	$	(5,303	)	$	17,083,436	$	16,695,203	$	(6,249	)	$	16,688,954
LIABILITIES:
Other net payable to reinsurers	$	860,391	$	(45,093	)	$	815,298	$	1,225,260	$	(37,480	)	$	1,187,780
Income taxes		142,143		6,797			148,940		68,024		4,132			72,156
Total liabilities		11,823,179		(38,296	)		11,784,883		11,763,992		(33,348	)		11,730,644
STOCKHOLDERS EQUITY:
Retained earnings		4,914,308		32,993			4,947,301		4,618,558		27,099			4,645,657
Total stockholder's equity		5,265,560		32,993			5,298,553		4,931,211		27,099			4,958,310
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$	17,088,739	$	(5,303	)	$	17,083,436	$	16,695,203	$	(6,249	)	$	16,688,954

CONSOLIDATED STATEMENTS OF OPERATIONS	Year Ended December 31, 2016							Year Ended December 31, 2015
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	289,982	$	(8,558	)	$	281,424	$	315,069	$	(2,744	)	$	312,325
Total claims and expenses		1,928,940		(8,558	)		1,920,382		1,892,062		(2,744	)		1,889,318
INCOME (LOSS) BEFORE TAXES		390,433		8,558			398,991		604,542		2,744			607,286
Income tax expense (benefit)		94,683		2,664			97,347		191,889		3,007			194,896
NET INCOME (LOSS)	$	295,750	$	5,894		$	301,644	$	412,653	$	(263	)	$	412,390
COMPREHENSIVE INCOME (LOSS)	$	321,571	$	5,894		$	327,465	$	345,998	$	(263	)	$	345,735

CONSOLIDATED STATEMENTS OF OPERATIONS	Year Ended December 31, 2014							Three Months Ended March 31, 2017
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	339,402	$	(427	)	$	338,975	$	49,470	$	3,037		$	52,507
Total claims and expenses		1,930,749		(427	)		1,930,322		411,543		3,037			414,580
INCOME (LOSS) BEFORE TAXES		657,688		427			658,115		247,984		(3,037	)		244,947
Income tax expense (benefit)		203,562		1,125			204,687		76,940		(1,171	)		75,769
NET INCOME (LOSS)	$	454,126	$	(698	)	$	453,428	$	171,044	$	(1,866	)	$	169,178
COMPREHENSIVE INCOME (LOSS)	$	370,997	$	(698	)	$	370,299	$	182,587	$	(1,866	)	$	180,721

7

CONSOLIDATED STATEMENTS OF OPERATIONS	Three Months Ended September 30, 2016							Nine Months Ended September 30, 2016
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	85,563	$	(2,785	)	$	82,778	$	226,511	$	(6,959	)	$	219,552
Total claims and expenses		462,009		(2,785	)		459,224		1,377,175		(6,959	)		1,370,216
INCOME (LOSS) BEFORE TAXES		95,943		2,785			98,728		249,064		6,959			256,023
Income tax expense (benefit)		21,145		1,280			22,425		66,990		2,368			69,358
NET INCOME (LOSS)	$	74,798	$	1,505		$	76,303	$	182,074	$	4,591		$	186,665
COMPREHENSIVE INCOME (LOSS)	$	74,465	$	1,505		$	75,970	$	299,559	$	4,591		$	304,150

CONSOLIDATED STATEMENTS OF OPERATIONS	Three Months Ended June 30, 2016							Six Months Ended June 30, 2016
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	72,126	$	(1,717	)	$	70,409	$	140,948	$	(4,174	)	$	136,774
Total claims and expenses		479,860		(1,717	)		478,143		915,166		(4,174	)		910,992
INCOME (LOSS) BEFORE TAXES		101,332		1,717			103,049		153,121		4,174			157,295
Income tax expense (benefit)		32,982		695			33,677		45,845		1,088			46,933
NET INCOME (LOSS)	$	68,350	$	1,022		$	69,372	$	107,276	$	3,086		$	110,362
COMPREHENSIVE INCOME (LOSS)	$	124,381	$	1,022		$	125,403	$	225,094	$	3,086		$	228,180

CONSOLIDATED STATEMENTS OF OPERATIONS	Three Months Ended March 31, 2016
AND COMPREHENSIVE INCOME (LOSS):	As Previously		Impact of
	Reported		Revisions			As Revised
(Dollars in thousands)
CLAIMS AND EXPENSES:
Commission, brokerage, taxes and fees	$	68,822	$	(2,457	)	$	66,365
Total claims and expenses		435,306		(2,457	)		432,849
INCOME (LOSS) BEFORE TAXES		51,789		2,457			54,246
Income tax expense (benefit)		12,863		393			13,256
NET INCOME (LOSS)	$	38,926	$	2,064		$	40,990
COMPREHENSIVE INCOME (LOSS)	$	100,713	$	2,064		$	102,777

CONSOLIDATED STATEMENTS OF	Year Ended December 31, 2016						Year Ended December 31, 2015
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of				As Previously		Impact of
	Reported		Revisions		As Revised		Reported		Revisions			As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	4,618,558	$	27,099	$	4,645,657	$	4,205,905	$	27,362		$	4,233,267
Net income (loss)		295,750		5,894		301,644		412,653		(263	)		412,390
Balance, end of period		4,914,308		32,993		4,947,301		4,618,558		27,099			4,645,657
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	5,265,560	$	32,993	$	5,298,553	$	4,931,211	$	27,099		$	4,958,310

8

CONSOLIDATED STATEMENTS OF	Year Ended December 31, 2014							Three Months Ended March 31, 2017
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of					As Previously		Impact of
	Reported		Revisions			As Revised		Reported		Revisions			As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	3,751,779	$	28,060		$	3,779,839	$	4,914,308	$	32,993		$	4,947,301
Net income (loss)		454,126		(698	)		453,428		171,044		(1,866	)		169,178
Balance, end of period		4,205,905		27,362			4,233,267		5,085,352		31,127			5,116,479
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	4,572,717	$	27,362		$	4,600,079	$	5,448,217	$	31,127		$	5,479,344

CONSOLIDATED STATEMENTS OF	Three Months Ended September 30, 2016						Nine Months Ended September 30, 2016
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of				As Previously		Impact of
	Reported		Revisions		As Revised		Reported		Revisions		As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	4,725,834	$	30,185	$	4,756,019	$	4,618,558	$	27,099	$	4,645,657
Net income (loss)		74,798		1,505		76,303		182,074		4,591		186,665
Balance, end of period		4,800,632		31,690		4,832,322		4,800,632		31,690		4,832,322
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	5,240,955	$	31,690	$	5,272,645	$	5,240,955	$	31,690	$	5,272,645

CONSOLIDATED STATEMENTS OF	Three Months Ended June 30, 2016						Six Months Ended June 30, 2016
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of				As Previously		Impact of
	Reported		Revisions		As Revised		Reported		Revisions		As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	4,657,484	$	29,163	$	4,686,647	$	4,618,558	$	27,099	$	4,645,657
Net income (loss)		68,350		1,022		69,372		107,276		3,086		110,362
Balance, end of period		4,725,834		30,185		4,756,019		4,725,834		30,185		4,756,019
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	5,164,053	$	30,185	$	5,194,238	$	5,164,053	$	30,185	$	5,194,238

CONSOLIDATED STATEMENTS OF	Three Months Ended March 31, 2016
CHANGES IN STOCKHOLDER'S EQUITY	As Previously		Impact of
	Reported		Revisions		As Revised
(Dollars in thousands, except share amounts)
RETAINED EARNINGS:
Balance, beginning of period	$	4,618,558	$	27,099	$	4,645,657
Net income (loss)		38,926		2,064		40,990
Balance, end of period		4,657,484		29,163		4,686,647
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD	$	5,036,717	$	29,163	$	5,065,880

CONSOLIDATED STATEMENTS OF CASH FLOWS	Year Ended December 31, 2016									Year Ended December 31, 2015
	As Previously			Impact of						As Previously		Impact of
	Reported			Revisions			As Revised			Reported		Revisions			As Revised
(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	295,750		$	5,894		$	301,644		$	412,653	$	(263	)	$	412,390
Decrease (increase) in income taxes		60,325			2,666			62,991			57,487		3,007			60,494
Increase (decrease) in other net payable to reinsurers		(364,242	)		(7,614	)		(371,856	)		204,526		(8,590	)		195,936
Change in other assets and liabilities, net		16,090			(946	)		15,144			7,499		5,846			13,345

9

CONSOLIDATED STATEMENTS OF CASH FLOWS	Year Ended December 31, 2014							Three Months Ended March 31, 2017
	As Previously		Impact of					As Previously			Impact of
	Reported		Revisions			As Revised		Reported			Revisions			As Revised
(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	454,126	$	(698	)	$	453,428	$	171,044		$	(1,866	)	$	169,178
Decrease (increase) in income taxes		68,206		1,125			69,331		75,304			(1,172	)		74,132
Increase (decrease) in other net payable to reinsurers		5,130		(3,216	)		1,914		(30,525	)		3,347			(27,178	)
Change in other assets and liabilities, net		81,388		2,789			84,177		18,204			(309	)		17,895

CONSOLIDATED STATEMENTS OF CASH FLOWS	Nine Months Ended September 30, 2016									Six Months Ended June 30, 2016
	As Previously			Impact of						As Previously			Impact of
	Reported			Revisions			As Revised			Reported			Revisions			As Revised
(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	182,074		$	4,591		$	186,665		$	107,276		$	3,086		$	110,362
Decrease (increase) in income taxes		33,279			2,368			35,647			8,190			1,089			9,279
Increase (decrease) in other net payable to reinsurers		(209,260	)		(6,764	)		(216,024	)		(370,242	)		(3,111	)		(373,353	)
Change in other assets and liabilities, net		(124,955	)		(195	)		(125,150	)		14,216			(1,064	)		13,152

CONSOLIDATED STATEMENTS OF CASH FLOWS	Three Months Ended March 31, 2016
	As Previously			Impact of
	Reported			Revisions			As Revised
(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	38,926		$	2,064		$	40,990
Decrease (increase) in income taxes		6,546			393			6,939
Increase (decrease) in other net payable to reinsurers		(106,588	)		(1,122	)		(107,710	)
Change in other assets and liabilities, net		24,496			(1,335	)		23,161

XML

Investments (Tables)

6 Months Ended

Jun. 30, 2017

Investments [Abstract]

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

At June 30, 2017
	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	$	667,000	$	2,961	$	(3,184	)	$	666,777	$	-
Obligations of U.S. states and political subdivisions		679,940		22,970		(6,127	)		696,783		-
Corporate securities		2,274,212		40,765		(13,976	)		2,301,001		908
Asset-backed securities		189,598		433		(42	)		189,989		-
Mortgage-backed securities
Commercial		73,127		507		(389	)		73,245		-
Agency residential		688,735		2,163		(7,217	)		683,681		-
Non-agency residential		61		9		-			70		-
Foreign government securities		489,750		20,205		(8,568	)		501,387		-
Foreign corporate securities		1,009,145		28,358		(10,408	)		1,027,095		319
Total fixed maturity securities	$	6,071,568	$	118,371	$	(49,911	)	$	6,140,028	$	1,227

	At December 31, 2016
	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	$	693,005	$	2,509	$	(4,434	)	$	691,080	$	-
Obligations of U.S. states and political subdivisions		723,938		18,016		(11,970	)		729,984		-
Corporate securities		2,119,324		50,665		(15,786	)		2,154,203		4,868
Asset-backed securities		136,826		330		(129	)		137,027		-
Mortgage-backed securities
Commercial		75,435		510		(452	)		75,493		-
Agency residential		721,772		2,365		(8,993	)		715,144		-
Non-agency residential		76		12		-			88		-
Foreign government securities		495,572		22,088		(10,383	)		507,277		-
Foreign corporate securities		944,546		30,015		(14,361	)		960,200		175
Total fixed maturity securities	$	5,910,494	$	126,510	$	(66,508	)	$	5,970,496	$	5,043

^(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 June 30, 2017				At December 31, 2016
	Amortized		Market		Amortized		Market
(Dollars in thousands)	Cost		Value		Cost		Value
Fixed maturity securities – available for sale
Due in one year or less	$	438,873	$	439,218	$	394,401	$	392,824
Due after one year through five years		2,912,173		2,932,487		2,925,786		2,955,325
Due after five years through ten years		1,043,485		1,063,492		879,762		894,166
Due after ten years		725,516		757,846		776,436		800,429
Asset-backed securities		189,598		189,989		136,826		137,027
Mortgage-backed securities
Commercial		73,127		73,245		75,435		75,493
Agency residential		688,735		683,681		721,772		715,144
Non-agency residential		61		70		76		88
Total fixed maturity securities	$	6,071,568	$	6,140,028	$	5,910,494	$	5,970,496

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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Increase (decrease) during the period between the market value and cost
of investments carried at market value, and deferred taxes thereon:
Fixed maturity securities	$	32		$	53,863		$	12,274		$	123,689
Fixed maturity securities, other-than-temporary impairment		(317	)		6,446			(3,816	)		6,643
Other invested assets		821			-			1,265			-
Change in unrealized  appreciation (depreciation), pre-tax		536			60,309			9,723			130,332
Deferred tax benefit (expense)		(299	)		(18,852	)		(4,739	)		(43,291	)
Deferred tax benefit (expense), other-than-temporary impairment		111			(2,256	)		1,336			(2,325	)
Change in unrealized appreciation (depreciation),
net of deferred taxes, included in stockholder's equity	$	348		$	39,201		$	6,320		$	84,716

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

Duration of Unrealized Loss at June 30, 2017 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	$	261,624	$	(3,184	)	$	-	$	-		$	261,624	$	(3,184	)
Obligations of U.S. states and political subdivisions		157,890		(6,127	)		-		-			157,890		(6,127	)
Corporate securities		528,750		(10,097	)		68,699		(3,879	)		597,449		(13,976	)
Asset-backed securities		56,504		(39	)		2,525		(3	)		59,029		(42	)
Mortgage-backed securities
Commercial		13,797		(317	)		2,991		(72	)		16,788		(389	)
Agency residential		445,347		(5,091	)		82,351		(2,126	)		527,698		(7,217	)
Non-agency residential		-		-			-		-			-		-
Foreign government securities		177,440		(2,308	)		56,133		(6,260	)		233,573		(8,568	)
Foreign corporate securities		201,847		(2,108	)		73,620		(8,300	)		275,467		(10,408	)
Total fixed maturity securities	$	1,843,199	$	(29,271	)	$	286,319	$	(20,640	)	$	2,129,518	$	(49,911	)

Duration of Unrealized Loss at December 31, 2016 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	$	469,571	$	(4,434	)	$	-	$	-		$	469,571	$	(4,434	)
Obligations of U.S. states and political subdivisions		221,088		(11,486	)		564		(484	)		221,652		(11,970	)
Corporate securities		431,757		(10,121	)		118,172		(5,665	)		549,929		(15,786	)
Asset-backed securities		35,065		(122	)		5,745		(7	)		40,810		(129	)
Mortgage-backed securities
Commercial		27,230		(391	)		3,060		(61	)		30,290		(452	)
Agency residential		487,000		(6,320	)		90,740		(2,673	)		577,740		(8,993	)
Non-agency residential		-		-			-		-			-		-
Foreign government securities		218,171		(2,713	)		61,542		(7,670	)		279,713		(10,383	)
Foreign corporate securities		264,939		(4,950	)		75,489		(9,411	)		340,428		(14,361	)
Total fixed maturity securities	$	2,154,821	$	(40,537	)	$	355,312	$	(25,971	)	$	2,510,133	$	(66,508	)

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

Duration of Unrealized Loss at June 30, 2017 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	$	157,063	$	(277	)	$	18,588	$	(3,005	)	$	175,651	$	(3,282	)
Due in one year through five years		709,510		(9,577	)		147,334		(13,549	)		856,844		(23,126	)
Due in five years through ten years		297,303		(7,601	)		32,309		(1,879	)		329,612		(9,480	)
Due after ten years		163,675		(6,369	)		221		(6	)		163,896		(6,375	)
Asset-backed securities		56,504		(39	)		2,525		(3	)		59,029		(42	)
Mortgage-backed securities		459,144		(5,408	)		85,342		(2,198	)		544,486		(7,606	)
Total fixed maturity securities	$	1,843,199	$	(29,271	)	$	286,319	$	(20,640	)	$	2,129,518	$	(49,911	)

Duration of Unrealized Loss at December 31, 2016 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	$	111,926	$	(322	)	$	21,691	$	(3,625	)	$	133,617	$	(3,947	)
Due in one year through five years		1,015,066		(10,567	)		190,960		(16,511	)		1,206,026		(27,078	)
Due in five years through ten years		243,082		(10,369	)		41,371		(2,961	)		284,453		(13,330	)
Due after ten years		235,452		(12,446	)		1,745		(133	)		237,197		(12,579	)
Asset-backed securities		35,065		(122	)		5,745		(7	)		40,810		(129	)
Mortgage-backed securities		514,230		(6,711	)		93,800		(2,734	)		608,030		(9,445	)
Total fixed maturity securities	$	2,154,821	$	(40,537	)	$	355,312	$	(25,971	)	$	2,510,133	$	(66,508	)

Summary Of Components Of Net Investment Income

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Fixed maturities	$	49,601		$	44,795		$	96,581		$	90,121
Equity securities		6,370			8,734			13,118			17,882
Short-term investments and cash		590			251			980			555
Other invested assets
Limited partnerships		8,978			14,192			8,754			11,678
Dividends from preferred shares of affiliate		7,758			7,758			15,516			15,516
Other		1,496			729			2,748			(183	)
Gross investment income before adjustments		74,793			76,459			137,697			135,569
Funds held interest income (expense)		978			974			2,917			3,628
Interest income from Parent		1,075			1,075			2,150			2,150
Gross investment income		76,846			78,508			142,764			141,347
Investment expenses		(4,946	)		(4,636	)		(10,015	)		(9,030	)
Net investment income	$	71,900		$	73,872		$	132,749		$	132,317
(Some amounts may not reconcile due to rounding.)

Summary Of Components Of Net Realized Capital Gains (Losses)

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Fixed maturity securities, market value:
Other-than-temporary impairments	$	(1,574	)	$	(1,391	)	$	(2,706	)	$	(24,406	)
Gains (losses) from sales		6,507			2,244			12,972			(14,611	)
Fixed maturity securities, fair value:
Gain (losses) from sales		-			(1,854	)		-			(1,854	)
Gains (losses) from fair value adjustments		-			1,571			-			1,339
Equity securities, fair value:
Gains (losses) from sales		604			(7,636	)		4,944			(15,586	)
Gains (losses) from fair value adjustments		14,943			36,987			52,361			18,662
Other invested assets		(2	)		-			(1	)		-
Other invested assets, fair value:
Gains (losses) from fair value adjustments		(112,769	)		(756	)		(42,094	)		(756	)
Short-term investment gains (losses)		-			-			1			-
Total net realized capital gains (losses)	$	(92,291	)	$	29,165		$	25,477		$	(37,212	)

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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Proceeds from sales of fixed maturity securities	$	359,496		$	110,429		$	652,490		$	298,475
Gross gains from sales		7,748			6,154			15,743			7,618
Gross losses from sales		(1,241	)		(5,764	)		(2,771	)		(24,083	)
Proceeds from sales of equity securities	$	115,602		$	335,831		$	249,653		$	421,980
Gross gains from sales		3,562			4,853			11,575			6,635
Gross losses from sales		(2,958	)		(12,489	)		(6,631	)		(22,221	)

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Reserves For Losses And LAE (Tables)

6 Months Ended

Jun. 30, 2017

Reserves For Losses And LAE [Abstract]

Summary Of Activity In The Reserve For Losses And LAE

	Six Months Ended			Twelve Months Ended
	June 30,			At December 31,
(Dollars in thousands)	2017			2016
Gross reserves at beginning of period	$	8,331,288		$	7,940,720
Less reinsurance recoverables		(4,199,791	)		(3,875,073	)
Net reserves at beginning of period		4,131,497			4,065,647
Incurred related to:
Current year		584,656			1,441,962
Prior years		2,294			(91,682	)
Total incurred losses and LAE		586,950			1,350,280
Paid related to:
Current year		165,100			400,489
Prior years		493,405			892,207
Total paid losses and LAE		658,505			1,292,696
Foreign exchange/translation adjustment		(6,122	)		8,266
Net reserves at end of period		4,053,820			4,131,497
Plus reinsurance recoverables		4,232,779			4,199,791
Gross reserves at end of period	$	8,286,599		$	8,331,288

XML

Fair Value (Tables)

6 Months Ended

Jun. 30, 2017

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)	June 30, 2017		(Level 1)		(Level 2)		(Level 3)
Assets:
Fixed maturities, market value
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	666,777	$	-	$	666,777	$	-
Obligations of U.S. States and political subdivisions		696,783		-		696,783		-
Corporate securities		2,301,001		-		2,214,861		86,140
Asset-backed securities		189,989		-		189,989		-
Mortgage-backed securities
Commercial		73,245		-		73,245		-
Agency residential		683,681		-		683,681		-
Non-agency residential		70		-		70		-
Foreign government securities		501,387		-		501,387		-
Foreign corporate securities		1,027,095		-		1,023,944		3,151
Total fixed maturities, market value		6,140,028		-		6,050,737		89,291
Equity securities, fair value		934,110		893,660		40,450		-
Other invested assets, fair value		1,724,532		-		-		1,724,532

			Fair Value Measurement Using:
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
(Dollars in thousands)	December 31, 2016		(Level 1)		(Level 2)		(Level 3)
Assets:
Fixed maturities, market value
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	691,080	$	-	$	691,080	$	-
Obligations of U.S. States and political subdivisions		729,984		-		729,984		-
Corporate securities		2,154,203		-		2,089,006		65,197
Asset-backed securities		137,027		-		137,027		-
Mortgage-backed securities
Commercial		75,493		-		75,493		-
Agency residential		715,144		-		715,144		-
Non-agency residential		88		-		88		-
Foreign government securities		507,277		-		507,277		-
Foreign corporate securities		960,200		-		957,662		2,538
Total fixed maturities, market value		5,970,496		-		5,902,761		67,735
Equity securities, fair value		887,800		827,237		60,563		-
Other invested assets, fair value		1,766,626		-		-		1,766,626

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

Three Months Ended June 30, 2017							Six Months Ended June 30, 2017
	Corporate		Foreign					Corporate		Foreign
(Dollars in thousands)	Securities		Corporate		Total			Securities		Corporate		Total
Beginning balance	$	84,322	$	2,802	$	87,124		$	65,197	$	2,538	$	67,735
Total gains or (losses) (realized/unrealized)
Included in earnings		711		128		839			925		104		1,029
Included in other comprehensive income (loss)		172		-		172			143		-		143
Purchases, issuances and settlements		935		221		1,156			19,875		509		20,384
Transfers in and/or (out) of Level 3		-		-		-			-		-		-
Ending balance	$	86,140	$	3,151	$	89,291		$	86,140	$	3,151	$	89,291
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 June 30, 2016								Six Months Ended June 30, 2016
	Corporate			Foreign					Corporate			Foreign
(Dollars in thousands)	Securities			Corporate		Total			Securities			Corporate			Total
Beginning balance	$	15,706		$	596	$	16,302		$	3,933		$	1,593		$	5,526
Total gains or (losses) (realized/unrealized)
Included in earnings		(18	)		-		(18	)		(10	)		(997	)		(1,007	)
Included in other comprehensive income (loss)		(27	)		1,425		1,398			(33	)		1,425			1,392
Purchases, issuances and settlements		16,749			-		16,749			28,520			-			28,520
Transfers in and/or (out) of Level 3		-			-		-			-			-			-
Ending balance	$	32,410		$	2,021	$	34,431		$	32,410		$	2,021		$	34,431
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	$	-		$	-	$	-		$	-		$	(997	)	$	(997	)

Fair Value Measurements Using Significant Unobservable Inputs for Equity Index Put Option Contracts

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Other invested assets, fair value:
Beginning balance	$	1,837,302		$	1,773,214		$	1,766,626		$	1,773,214
Total gains or (losses) (realized/unrealized)
Included in earnings		(112,769	)		(756	)		(42,094	)		(756	)
Included in other comprehensive income (loss)		-			-			-			-
Purchases, issuances and settlements		-			-			-			-
Transfers in and/or (out) of Level 3		-			-			-			-
Ending balance		1,724,532		$	1,772,458		$	1,724,532		$	1,772,458
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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Commitments And Contingencies (Tables)

6 Months Ended

Jun. 30, 2017

Commitments And Contingencies [Abstract]

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

	At June 30,		At December 31,
(Dollars in thousands)	2017		2016
The Prudential	$	146,923	$	146,507
Unaffiliated life insurance company		33,107		33,860

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Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2017

Comprehensive Income (Loss) [Abstract]

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

Three Months Ended June 30, 2017									Six Months Ended June 30, 2017
(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	$	5,784		$	(1,753	)	$	4,031		$	23,804		$	(8,060	)	$	15,744
URA(D) on securities - OTTI		(317	)		111			(206	)		(3,816	)		1,336			(2,480	)
Reclassification of net realized losses (gains) included in net income (loss)		(4,931	)		1,454			(3,477	)		(10,265	)		3,321			(6,944	)
Foreign currency translation adjustments		8,265			(2,893	)		5,372			13,752			(4,813	)		8,939
Benefit plan actuarial net gain (loss)		-			-			-			-			-			-
Reclassification of amortization of net gain (loss) included in net income (loss)		3,083			(1,079	)		2,004			6,166			(2,158	)		4,008
Total other comprehensive income (loss)	$	11,884		$	(4,160	)	$	7,724		$	29,641		$	(10,374	)	$	19,267
(Some amounts may not reconcile due to rounding)

	Three Months Ended June 30, 2016									Six Months Ended June 30, 2016
(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	$	53,960		$	(18,886	)	$	35,074		$	83,916	$	(29,370	)	$	54,546
URA(D) on securities - OTTI		6,446			(2,256	)		4,190			6,643		(2,325	)		4,318
Reclassification of net realized losses (gains) included in net income (loss)		(97	)		34			(63	)		39,773		(13,921	)		25,852
Foreign currency translation adjustments		23,830			(8,341	)		15,489			46,807		(16,386	)		30,421
Benefit plan actuarial net gain (loss)		-			-			-			-		-			-
Reclassification of amortization of net gain (loss) included in net income (loss)		2,063			(722	)		1,341			4,125		(1,444	)		2,681
Total other comprehensive income (loss)	$	86,202		$	(30,171	)	$	56,031		$	181,264	$	(63,446	)	$	117,818
(Some amounts may not reconcile due to rounding)

Reclassification From Accumulated Other Comprehensive Income

	Three Months Ended						Six Months Ended
	June 30,						June 30,						Affected line item within the statements of
AOCI component	2017			2016			2017			2016			operations and comprehensive income (loss)
(Dollars in thousands)
URA(D) on securities	$	(4,931	)	$	(97	)	$	(10,265	)	$	39,773		Other net realized capital gains (losses)
		1,454			34			3,321			(13,921	)	Income tax expense (benefit)
	$	(3,477	)	$	(63	)	$	(6,944	)	$	25,852		Net income (loss)
Benefit plan net gain (loss)	$	3,083		$	2,063		$	6,166		$	4,125		Other underwriting expenses
		(1,079	)		(722	)		(2,158	)		(1,444	)	Income tax expense (benefit)
	$	2,004		$	1,341		$	4,008		$	2,681		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

	Six Months Ended			Twelve Months Ended
	June 30,			December 31,
(Dollars in thousands)	2017			2016
Beginning balance of URA (D) on securities	$	39,041		$	13,654
Current period change in URA (D) of investments - temporary		8,800			22,063
Current period change in URA (D) of investments - non-credit OTTI		(2,480	)		3,324
Ending balance of URA (D) on securities		45,361			39,041
Beginning balance of foreign currency translation adjustments		(9,852	)		(12,701	)
Current period change in foreign currency translation adjustments		8,939			2,849
Ending balance of foreign currency translation adjustments		(913	)		(9,852	)
Beginning balance of benefit plan net gain (loss)		(65,504	)		(63,089	)
Current period change in benefit plan net gain (loss)		4,008			(2,415	)
Ending balance of benefit plan net gain (loss)		(61,496	)		(65,504	)
Ending balance of accumulated other comprehensive income (loss)	$	(17,048	)	$	(36,315	)

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Senior Notes (Tables)

6 Months Ended

Jun. 30, 2017

Senior Notes [Abstract]

Schedule Of Outstanding Senior Notes

June 30, 2017

December 31, 2016

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

$

396,774

$

421,764

$

396,714

$

383,612

Schedule Of Interest Expense Incurred In Connection With Senior Notes

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Interest expense incurred	$	4,868	$	4,868	$	9,736	$	9,736

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Long Term Subordinated Notes (Tables)

6 Months Ended

Jun. 30, 2017

Long Term Subordinated Notes [Abstract]

Schedule Of Outstanding Fixed To Floating Rate Long Term Subordinated Notes

Maturity Date

June 30, 2017

December 31, 2016

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

$

236,511

$

223,053

$

236,462

$

204,636

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Interest expense incurred	$	3,033	$	3,937	$	6,970	$	7,874

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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2017

Segment Reporting [Abstract]

Schedule Of Underwriting Results For Operating Segments

Three Months Ended					Six Months Ended
U.S. Reinsurance	June 30,					June 30,
(Dollars in thousands)	2017		2016			2017		2016
Gross written premiums	$	474,992	$	405,530		$	1,053,951	$	942,236
Net written premiums		135,177		161,031			354,239		384,458
Premiums earned	$	202,289	$	224,618		$	410,603	$	459,861
Incurred losses and LAE		119,747		110,152			240,181		226,322
Commission and brokerage		43,173		50,130			83,545		99,861
Other underwriting expenses		14,278		12,133			28,529		25,591
Underwriting gain (loss)	$	25,091	$	52,203		$	58,348	$	108,087

	Three Months Ended				Six Months Ended
International	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Gross written premiums	$	333,535	$	348,178	$	612,110	$	586,656
Net written premiums		111,961		124,438		215,207		212,154
Premiums earned	$	113,300	$	131,285	$	231,451	$	244,458
Incurred losses and LAE		78,459		91,427		146,873		164,842
Commission and brokerage		23,790		26,140		47,325		52,250
Other underwriting expenses		9,163		7,969		18,052		15,792
Underwriting gain (loss)	$	1,888	$	5,749	$	19,201	$	11,574

	Three Months Ended						Six Months Ended
Insurance	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Gross written premiums	$	527,047		$	424,083		$	921,898		$	778,803
Net written premiums		170,774			155,786			297,302			308,712
Premiums earned	$	152,608		$	132,952		$	297,198		$	266,461
Incurred losses and LAE		99,022			136,957			199,896			243,434
Commission and brokerage		(6,450	)		(5,861	)		(17,850	)		(15,337	)
Other underwriting expenses		40,756			38,228			77,511			76,174
Underwriting gain (loss)	$	19,280		$	(36,372	)	$	37,641		$	(37,810	)

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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Underwriting gain (loss)	$	46,259		$	21,580		$	115,190		$	81,851
Net investment income		71,900			73,872			132,749			132,317
Net realized capital gains (losses)		(92,291	)		29,165			25,477			(37,212	)
Corporate expense		(1,512	)		(2,010	)		(5,109	)		(4,346	)
Interest, fee and bond issue cost amortization expense		(7,954	)		(8,858	)		(16,813	)		(17,717	)
Other income (expense)		10,655			(10,700	)		20,510			2,402
Income (loss) before taxes	$	27,057		$	103,049		$	272,004		$	157,295

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Canada gross written premiums	$	36,195	$	34,630	$	64,152	$	58,216

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Related-Party Transactions (Tables)

6 Months Ended

Jun. 30, 2017

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

Dividends Received On Common Shares Reported As Net Investment Income

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Dividends received on preferred stock of affiliate		7,758		7,758	$	15,516		15,516

Expenses Incurred By Holdings From Services Provided By Affiliated Company

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Expenses incurred	$	23,046	$	20,289	$	46,229	$	41,459

Affiliated Quota Share Reinsurance Agreements 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
01/01/2010-12/31/2010	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
01/01/2015-12/31/2016	Everest Re	50.0%	Bermuda Re	property / casualty business	162,500		325,000
01/01/2017	Everest Re	60.0%	Bermuda Re	property / casualty business	219,000		438,000
01/01/2010-12/31/2010	Everest Re- Canadian Branch	60.0%	Bermuda Re	property business	350,000	(1)	-
01/01/2011-12/31/2011	Everest Re- Canadian Branch	60.0%	Bermuda Re	property business	350,000	(1)	-
01/01/2012-12/31/2012	Everest Re- Canadian Branch	75.0%	Bermuda Re	property / casualty business	206,250	(1)	412,500	(1)
01/01/2013-12/31/2013	Everest Re- Canadian Branch	75.0%	Bermuda Re	property / casualty business	150,000	(1)	412,500	(1)
01/01/2014	Everest Re- Canadian Branch	75.0%	Bermuda Re	property / casualty business	262,500	(1)	412,500	(1)
01/01/2012	Everest Canada	80.0%	Everest Re- Canadian Branch	property business	-		-
(1)   Amounts shown are Canadian dollars.

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

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				Six Months Ended
Bermuda Re	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Ceded written premiums	$	681,776	$	544,495	$	1,316,672	$	1,061,178
Ceded earned premiums		620,897		593,349		1,209,771		1,132,302
Ceded losses and LAE (a)		388,573		404,667		728,704		695,143

	Three Months Ended					Six Months Ended
Everest International	June 30,					June 30,
(Dollars in thousands)	2017			2016		2017			2016
Ceded written premiums	$	45		$	62	$	(25	)	$	31
Ceded earned premiums		46			63		(25	)		39
Ceded losses and LAE		(175	)		756		(618	)		898

	Three Months Ended				Six Months Ended
Everest Canada	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Assumed written premiums	$	13,132	$	16,228	$	25,980	$	26,427
Assumed earned premiums		11,884		12,675		24,737		23,129
Assumed losses and LAE		7,319		14,440		13,970		21,427

	Three Months Ended					Six Months Ended
Lloyd's Syndicate 2786	June 30,					June 30,
(Dollars in thousands)	2017		2016			2017		2016
Assumed written premiums	$	10,236	$	(157	)	$	18,085	$	539
Assumed earned premiums		9,797		28			16,724		116
Assumed losses and LAE		4,831		-			8,264		-

	Three Months Ended				Six Months Ended
Mt. Logan Re Segregated Accounts	June 30,				June 30,
(Dollars in thousands)	2017		2016		2017		2016
Ceded written premiums	$	38,703	$	29,450	$	77,882	$	70,381
Ceded earned premiums		50,708		39,356		84,665		74,228
Ceded losses and LAE		23,674		16,232		43,433		25,330
Assumed written premiums	$	3,763		3,074		6,495		6,634
Assumed earned premiums		3,763		3,074		6,495		6,634
Assumed losses and LAE		-		-		-		-

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Retirement Benefits (Tables)

6 Months Ended

Jun. 30, 2017

Retirement Benefits [Abstract]

Summary Of Pension Expense

Pension Benefits	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2017			2016			2017			2016
Service cost	$	3,299		$	2,896		$	6,598		$	5,793
Interest cost		2,276			2,361			4,552			4,722
Expected return on plan assets		(3,154	)		(2,484	)		(6,309	)		(4,968	)
Amortization of net (income) loss		3,041			2,014			6,081			4,028
Net periodic benefit cost	$	5,461		$	4,787		$	10,921		$	9,575

Other Benefits	Three Months Ended					Six Months Ended
	June 30,					June 30,
(Dollars in thousands)	2017			2016		2017			2016
Service cost	$	441		$	438	$	881		$	876
Interest cost		249			296		498			592
Amortization of prior service cost		(33	)		-		(66	)		-
Amortization of net (income) loss		75			48		151			96
Net periodic benefit cost	$	732		$	782	$	1,464		$	1,564
(Some amounts may not reconcile due to rounding.)

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Revisions To Financial Statements (Schedule of Prior Period Financial Statments) (Details) - USD ($) $ in Thousands	3 Months Ended					6 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Deferred acquisition costs												$ 48,827	$ 57,314	$ 68,621	$ 86,402
TOTAL ASSETS												17,761,659	17,582,846	17,083,436	16,688,954
Other net payable to reinsurers												906,305	790,561	815,298	1,187,780
Income taxes												173,693	229,254	148,940	72,156
Total liabilities												12,238,865	12,103,502	11,784,883	11,730,644
Retained earnings												5,152,137	5,116,479	4,947,301	4,645,657
Total stockholder's equity	$ 5,479,344	$ 5,298,553	$ 5,194,238	$ 5,065,880	$ 4,958,310	$ 5,298,553	$ 4,958,310	$ 4,958,310	$ 4,958,310	$ 4,600,079	$ 4,600,079	5,522,794	5,479,344	5,298,553	4,958,310
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY												17,761,659	17,582,846	17,083,436	16,688,954
Commission, brokerage, taxes and fees	60,513	52,507	82,778	70,409	66,365	113,020	136,774	219,552	281,424	312,325	338,975
Total claims and expenses	431,404	414,580	459,224	478,143	432,849	845,984	910,992	1,370,216	1,920,382	1,889,318	1,930,322
INCOME (LOSS) BEFORE TAXES	27,057	244,947	98,728	103,049	54,246	272,004	157,295	256,023	398,991	607,286	658,115
Income tax expense (benefit)	(8,601)	75,769	22,425	33,677	13,256	67,168	46,933	69,358	97,347	194,896	204,687
Net income (loss)	35,658	169,178	76,303	69,372	40,990	204,836	110,362	186,665	301,644	412,390	453,428
COMPREHENSIVE INCOME (LOSS)	43,382	180,721	75,970	125,403	102,777	224,103	228,180	304,150	327,465	345,735	370,299
Balance, beginning of period	5,479,344	5,298,553	5,194,238	5,065,880	4,958,310	5,298,553	4,958,310	4,958,310	4,958,310	4,600,079
Balance, end of period	5,522,794	5,479,344	5,272,645	5,194,238	5,065,880	5,522,794	5,194,238	5,272,645	5,298,553	4,958,310	4,600,079
Decrease (increase) in income taxes		74,132			6,939	14,411	9,279	35,647	62,991	60,494	69,331
Increase (decrease) in other net payable to reinsurers		(27,178)			(107,710)	89,702	(373,353)	(216,024)	(371,856)	195,936	1,914
Change in other assets and liabilities, net		17,895			23,161	(10,031)	13,152	(125,150)	15,144	13,345	84,177
As Previously Reported [Member]
Deferred acquisition costs													62,308	73,924	92,651
TOTAL ASSETS													17,587,840	17,088,739	16,695,203
Other net payable to reinsurers													832,307	860,391	1,225,260
Income taxes													223,629	142,143	68,024
Total liabilities													12,139,623	11,823,179	11,763,992
Retained earnings													5,085,352	4,914,308	4,618,558
Total stockholder's equity	5,448,217	5,265,560	5,164,053	5,036,717	4,931,211	5,265,560	4,931,211	4,931,211	4,931,211	4,572,717	4,572,717		5,448,217	5,265,560	4,931,211
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY													17,587,840	17,088,739	16,695,203
Commission, brokerage, taxes and fees		49,470	85,563	72,126	68,822		140,948	226,511	289,982	315,069	339,402
Total claims and expenses		411,543	462,009	479,860	435,306		915,166	1,377,175	1,928,940	1,892,062	1,930,749
INCOME (LOSS) BEFORE TAXES		247,984	95,943	101,332	51,789		153,121	249,064	390,433	604,542	657,688
Income tax expense (benefit)		76,940	21,145	32,982	12,863		45,845	66,990	94,683	191,889	203,562
Net income (loss)		171,044	74,798	68,350	38,926		107,276	182,074	295,750	412,653	454,126
COMPREHENSIVE INCOME (LOSS)		182,587	74,465	124,381	100,713		225,094	299,559	321,571	345,998	370,997
Balance, beginning of period	5,448,217	5,265,560	5,164,053	5,036,717	4,931,211	5,265,560	4,931,211	4,931,211	4,931,211	4,572,717
Balance, end of period		5,448,217	5,240,955	5,164,053	5,036,717		5,164,053	5,240,955	5,265,560	4,931,211	4,572,717
Decrease (increase) in income taxes		75,304			6,546		8,190	33,279	60,325	57,487	68,206
Increase (decrease) in other net payable to reinsurers		(30,525)			(106,588)		(370,242)	(209,260)	(364,242)	204,526	5,130
Change in other assets and liabilities, net		18,204			24,496		14,216	(124,955)	16,090	7,499	81,388
Impact Of Revisions [Member]
Deferred acquisition costs													(4,994)	(5,303)	(6,249)
TOTAL ASSETS													(4,994)	(5,303)	(6,249)
Other net payable to reinsurers													(41,746)	(45,093)	(37,480)
Income taxes													5,625	6,797	4,132
Total liabilities													(36,121)	(38,296)	(33,348)
Retained earnings													31,127	32,993	27,099
Total stockholder's equity	31,127	32,993	30,185	29,163	27,099	32,993	27,099	27,099	27,099	27,362	27,362		31,127	32,993	27,099
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY													(4,994)	(5,303)	(6,249)
Commission, brokerage, taxes and fees		3,037	(2,785)	(1,717)	(2,457)		(4,174)	(6,959)	(8,558)	(2,744)	(427)
Total claims and expenses		3,037	(2,785)	(1,717)	(2,457)		(4,174)	(6,959)	(8,558)	(2,744)	(427)
INCOME (LOSS) BEFORE TAXES		(3,037)	2,785	1,717	2,457		4,174	6,959	8,558	2,744	427
Income tax expense (benefit)		(1,171)	1,280	695	393		1,088	2,368	2,664	3,007	1,125
Net income (loss)		(1,866)	1,505	1,022	2,064		3,086	4,591	5,894	(263)	(698)
COMPREHENSIVE INCOME (LOSS)		(1,866)	1,505	1,022	2,064		3,086	4,591	5,894	(263)	(698)
Balance, beginning of period	31,127	32,993	30,185	29,163	27,099	32,993	27,099	27,099	27,099	27,362
Balance, end of period		31,127	31,690	30,185	29,163		30,185	31,690	32,993	27,099	27,362
Decrease (increase) in income taxes		(1,172)			393		1,089	2,368	2,666	3,007	1,125
Increase (decrease) in other net payable to reinsurers		3,347			(1,122)		(3,111)	(6,764)	(7,614)	(8,590)	(3,216)
Change in other assets and liabilities, net		(309)			(1,335)		(1,064)	(195)	(946)	5,846	2,789
Retained Earnings [Member]
Total stockholder's equity	5,116,479	4,947,301	4,756,019	4,686,647	4,645,657	4,947,301	4,645,657	4,645,657	4,645,657	4,233,267	3,779,839	$ 5,152,137	5,116,479	4,947,301	4,645,657
Net income (loss)	35,658	169,178	76,303	69,372	40,990	204,836	110,362	186,665	301,644	412,390	453,428
Balance, beginning of period	5,116,479	4,947,301	4,756,019	4,686,647	4,645,657	4,947,301	4,645,657	4,645,657	4,645,657	4,233,267	3,779,839
Balance, end of period	5,152,137	5,116,479	4,832,322	4,756,019	4,686,647	5,152,137	4,756,019	4,832,322	4,947,301	4,645,657	4,233,267
Retained Earnings [Member] | As Previously Reported [Member]
Total stockholder's equity	5,085,352	4,914,308	4,725,834	4,657,484	4,618,558	4,914,308	4,618,558	4,618,558	4,618,558	4,205,905	3,751,779		5,085,352	4,914,308	4,618,558
Net income (loss)		171,044	74,798	68,350	38,926		107,276	182,074	295,750	412,653	454,126
Balance, beginning of period	5,085,352	4,914,308	4,725,834	4,657,484	4,618,558	4,914,308	4,618,558	4,618,558	4,618,558	4,205,905	3,751,779
Balance, end of period		5,085,352	4,800,632	4,725,834	4,657,484		4,725,834	4,800,632	4,914,308	4,618,558	4,205,905
Retained Earnings [Member] | Impact Of Revisions [Member]
Total stockholder's equity	31,127	32,993	30,185	29,163	27,099	32,993	27,099	27,099	27,099	27,362	28,060		$ 31,127	$ 32,993	$ 27,099
Net income (loss)		(1,866)	1,505	1,022	2,064		3,086	4,591	5,894	(263)	(698)
Balance, beginning of period	$ 31,127	32,993	30,185	29,163	27,099	$ 32,993	27,099	27,099	27,099	27,362	28,060
Balance, end of period		$ 31,127	$ 31,690	$ 30,185	$ 29,163		$ 30,185	$ 31,690	$ 32,993	$ 27,099	$ 27,362

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Investments (Narrative) (Details) - USD ($) $ in Thousands		6 Months Ended		12 Months Ended
	Aug. 24, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
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		$ 2,129,518		$ 2,510,133
Gross unrealized losses on investments in unrealized loss position		49,911		66,508
Other invested assets		774,646		613,740
Gross unrealized depreciation		$ 0		$ 0
Sales Revenue, Net [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage threshold of unrealized losses not exceeded by any one single issuer		5.00%	5.00%	1.00%
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
Heartland Corp [Member]
Schedule of Available-for-sale Securities [Line Items]
Proceeds from sale of business	$ 49,000
Investment Grade [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, duration of unrealized loss, less than 12 months, gross unrealized depreciation		$ 23,626		$ 36,646
Fixed maturity securities, duration of unrealized loss, greater than 12 months, gross unrealized depreciation		17,428
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Aggregate market value of investments in unrealized loss position		2,129,518		2,510,133
Gross unrealized losses on investments in unrealized loss position		49,911		66,508
Fixed maturity securities, duration of unrealized loss, less than 12 months, gross unrealized depreciation		29,271		40,537
Fixed maturity securities, duration of unrealized loss, greater than 12 months, gross unrealized depreciation		$ 20,640		25,971
Fixed Maturity Securities [Member] | Sales Revenue, Net [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage threshold of unrealized losses not exceeded by any one single issuer		5.00%
Foreign Exchange Losses [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, duration of unrealized loss, greater than 12 months, gross unrealized depreciation				22,882
Limited Partnerships [Member]
Schedule of Available-for-sale Securities [Line Items]
Additional contractual commitments		$ 364,196
Other invested assets		$ 142,964		$ 57,126

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Investments (Summary Of Unrealized Appreciation (Depreciation) Of Available For Sale, Fixed Maturity And Equity Security Investments) (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		$ 6,071,568	$ 5,910,494
Unrealized Appreciation		118,371	126,510
Unrealized Depreciation		(49,911)	(66,508)
Market Value		6,140,028	5,970,496
OTTI in AOCI	[1]	1,227	5,043
U.S. Treasury Securities And Obligations Of U.S. Government Agencies And Corporations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		667,000	693,005
Unrealized Appreciation		2,961	2,509
Unrealized Depreciation		(3,184)	(4,434)
Market Value		666,777	691,080
OTTI in AOCI	[1]
Obligations of U.S. States and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		679,940	723,938
Unrealized Appreciation		22,970	18,016
Unrealized Depreciation		(6,127)	(11,970)
Market Value		696,783	729,984
OTTI in AOCI	[1]
Corporate Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		2,274,212	2,119,324
Unrealized Appreciation		40,765	50,665
Unrealized Depreciation		(13,976)	(15,786)
Market Value		2,301,001	2,154,203
OTTI in AOCI	[1]	908	4,868
Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		189,598	136,826
Unrealized Appreciation		433	330
Unrealized Depreciation		(42)	(129)
Market Value		189,989	137,027
OTTI in AOCI	[1]
Commercial Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		73,127	75,435
Unrealized Appreciation		507	510
Unrealized Depreciation		(389)	(452)
Market Value		73,245	75,493
OTTI in AOCI	[1]
Agency Residential [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		688,735	721,772
Unrealized Appreciation		2,163	2,365
Unrealized Depreciation		(7,217)	(8,993)
Market Value		683,681	715,144
OTTI in AOCI	[1]
Non-agency Residential [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		61	76
Unrealized Appreciation		9	12
Unrealized Depreciation
Market Value		70	88
OTTI in AOCI	[1]
Foreign Government Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		489,750	495,572
Unrealized Appreciation		20,205	22,088
Unrealized Depreciation		(8,568)	(10,383)
Market Value		501,387	507,277
OTTI in AOCI	[1]
Foreign Corporate Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		1,009,145	944,546
Unrealized Appreciation		28,358	30,015
Unrealized Depreciation		(10,408)	(14,361)
Market Value		1,027,095	960,200
OTTI in AOCI	[1]	$ 319	$ 175

[1] (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.

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Investments (Summary Of Amortized Cost And Market Value Of Fixed Maturity Securities, By Contractual Maturity) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities - available for sale, Amortized Cost	$ 6,071,568	$ 5,910,494
Fixed maturity securities - available for sale, at market value	6,140,028	5,970,496
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	438,873	394,401
Fixed maturity securities - available for sale, Due after one year through five years, Amortized Cost	2,912,173	2,925,786
Fixed maturity securities - available for sale, Due after five years through ten years, Amortized Cost	1,043,485	879,762
Fixed maturity securities - available for sale, Due after ten years, Amortized Cost	725,516	776,436
Fixed maturity securities - available for sale, Due in one year or less, Market Value	439,218	392,824
Fixed maturity securities - available for sale, Due after one year through five years, Market Value	2,932,487	2,955,325
Fixed maturity securities - available for sale, Due after five years through ten years, Market Value	1,063,492	894,166
Fixed maturity securities - available for sale, Due after ten years, Market Value	757,846	800,429
Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities - available for sale, Amortized Cost	189,598	136,826
Fixed maturity securities - available for sale, at market value	189,989	137,027
Commercial Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities - available for sale, Amortized Cost	73,127	75,435
Fixed maturity securities - available for sale, at market value	73,245	75,493
Agency Residential [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities - available for sale, Amortized Cost	688,735	721,772
Fixed maturity securities - available for sale, at market value	683,681	715,144
Non-agency Residential [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities - available for sale, Amortized Cost	61	76
Fixed maturity securities - available for sale, at market value	$ 70	$ 88

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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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Schedule of Available-for-sale Securities [Line Items]
Change in unrealized appreciation (depreciation), pre-tax	$ 536	$ 60,309	$ 9,723	$ 130,332
Deferred tax benefit (expense)	(299)	(18,852)	(4,739)	(43,291)
Deferred tax benefit (expense), other-than-temporary impairment	111	(2,256)	1,336	(2,325)
Total URA(D) on securities arising during the period	348	39,201	6,320	84,716
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Change in unrealized appreciation (depreciation), pre-tax	32	53,863	12,274	123,689
Fixed Maturity Securities, Other-Than-Temporary Impairment [Member]
Schedule of Available-for-sale Securities [Line Items]
Change in unrealized appreciation (depreciation), pre-tax	(317)	$ 6,446	(3,816)	$ 6,643
Other Invested Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Change in unrealized appreciation (depreciation), pre-tax	$ 821		$ 1,265

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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	Jun. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Market Value, Total	$ 2,129,518	$ 2,510,133
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(49,911)	(66,508)
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	1,843,199	2,154,821
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(29,271)	(40,537)
Available for sale securities, Greater than 12 months, Market Value	286,319	355,312
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(20,640)	(25,971)
Available-for-sale Securities, Market Value, Total	2,129,518	2,510,133
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(49,911)	(66,508)
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	261,624	469,571
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(3,184)	(4,434)
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	261,624	469,571
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(3,184)	(4,434)
Obligations of U.S. States and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	157,890	221,088
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(6,127)	(11,486)
Available for sale securities, Greater than 12 months, Market Value		564
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation		(484)
Available-for-sale Securities, Market Value, Total	157,890	221,652
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(6,127)	(11,970)
Corporate Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	528,750	431,757
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(10,097)	(10,121)
Available for sale securities, Greater than 12 months, Market Value	68,699	118,172
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(3,879)	(5,665)
Available-for-sale Securities, Market Value, Total	597,449	549,929
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(13,976)	(15,786)
Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	56,504	35,065
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(39)	(122)
Available for sale securities, Greater than 12 months, Market Value	2,525	5,745
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(3)	(7)
Available-for-sale Securities, Market Value, Total	59,029	40,810
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(42)	(129)
Commercial Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	13,797	27,230
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(317)	(391)
Available for sale securities, Greater than 12 months, Market Value	2,991	3,060
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(72)	(61)
Available-for-sale Securities, Market Value, Total	16,788	30,290
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(389)	(452)
Agency Residential [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	445,347	487,000
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(5,091)	(6,320)
Available for sale securities, Greater than 12 months, Market Value	82,351	90,740
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(2,126)	(2,673)
Available-for-sale Securities, Market Value, Total	527,698	577,740
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(7,217)	(8,993)
Non-agency Residential [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation
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
Available-for-sale Securities, Gross Unrealized Depreciation, Total
Foreign Government Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	177,440	218,171
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(2,308)	(2,713)
Available for sale securities, Greater than 12 months, Market Value	56,133	61,542
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(6,260)	(7,670)
Available-for-sale Securities, Market Value, Total	233,573	279,713
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(8,568)	(10,383)
Foreign Corporate Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	201,847	264,939
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(2,108)	(4,950)
Available for sale securities, Greater than 12 months, Market Value	73,620	75,489
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(8,300)	(9,411)
Available-for-sale Securities, Market Value, Total	275,467	340,428
Available-for-sale Securities, Gross Unrealized Depreciation, Total	$ (10,408)	$ (14,361)

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Investments (Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Contractual Maturity) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Market Value, Total	$ 2,129,518	$ 2,510,133
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(49,911)	(66,508)
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	1,843,199	2,154,821
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(29,271)	(40,537)
Available for sale securities, Greater than 12 months, Market Value	286,319	355,312
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(20,640)	(25,971)
Available-for-sale Securities, Market Value, Total	2,129,518	2,510,133
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(49,911)	(66,508)
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	157,063	111,926
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(277)	(322)
Available for sale securities, Greater than 12 months, Market Value	18,588	21,691
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(3,005)	(3,625)
Available-for-sale Securities, Market Value, Total	175,651	133,617
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(3,282)	(3,947)
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	709,510	1,015,066
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(9,577)	(10,567)
Available for sale securities, Greater than 12 months, Market Value	147,334	190,960
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(13,549)	(16,511)
Available-for-sale Securities, Market Value, Total	856,844	1,206,026
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(23,126)	(27,078)
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	297,303	243,082
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(7,601)	(10,369)
Available for sale securities, Greater than 12 months, Market Value	32,309	41,371
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(1,879)	(2,961)
Available-for-sale Securities, Market Value, Total	329,612	284,453
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(9,480)	(13,330)
Due After Ten Years [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	163,675	235,452
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(6,369)	(12,446)
Available for sale securities, Greater than 12 months, Market Value	221	1,745
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(6)	(133)
Available-for-sale Securities, Market Value, Total	163,896	237,197
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(6,375)	(12,579)
Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	56,504	35,065
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(39)	(122)
Available for sale securities, Greater than 12 months, Market Value	2,525	5,745
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(3)	(7)
Available-for-sale Securities, Market Value, Total	59,029	40,810
Available-for-sale Securities, Gross Unrealized Depreciation, Total	(42)	(129)
Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less than 12 months, Market Value	459,144	514,230
Available for sale securities, Less than 12 months, Gross Unrealized Depreciation	(5,408)	(6,711)
Available for sale securities, Greater than 12 months, Market Value	85,342	93,800
Available for sale securities, Greater than 12 months, Gross Unrealized Depreciation	(2,198)	(2,734)
Available-for-sale Securities, Market Value, Total	544,486	608,030
Available-for-sale Securities, Gross Unrealized Depreciation, Total	$ (7,606)	$ (9,445)

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Investments (Summary Of Components Of Net Investment Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Schedule of Available-for-sale Securities [Line Items]
Gross investment income before adjustment	$ 74,793	$ 76,459	$ 137,697	$ 135,569
Funds held interest income (expense)	978	974	2,917	3,628
Interest income from Parent	1,075	1,075	2,150	2,150
Gross investment income	76,846	78,508	142,764	141,347
Investment expenses	(4,946)	(4,636)	(10,015)	(9,030)
Net investment income	71,900	73,872	132,749	132,317
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income before adjustment	49,601	44,795	96,581	90,121
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income before adjustment	6,370	8,734	13,118	17,882
Short-Term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income before adjustment	590	251	980	555
Limited Partnerships [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income before adjustment	8,978	14,192	8,754	11,678
Dividends From Preferred Shares Of Affiliate [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income before adjustment	7,758	7,758	15,516	15,516
Other [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income before adjustment	$ 1,496	$ 729	$ 2,748	$ (183)

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Investments (Summary Of Components Of Net Realized Capital Gains (Losses)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Schedule of Available-for-sale Securities [Line Items]
Other-than-temporary impairments	$ (1,574)	$ (1,391)	$ (2,706)	$ (24,406)
Total net realized capital gains (losses)	(92,291)	29,165	25,477	(37,212)
Fixed Maturity Securities [Member] | Market Value [Member]
Schedule of Available-for-sale Securities [Line Items]
Other-than-temporary impairments	(1,574)	(1,391)	(2,706)	(24,406)
Gains (losses) from sales	6,507	2,244	12,972	(14,611)
Fixed Maturity Securities [Member] | Fair Value [Member]
Schedule of Available-for-sale Securities [Line Items]
Gains (losses) from sales		(1,854)		(1,854)
Gains (losses) from fair value adjustments		1,571		1,339
Equity Securities [Member] | Fair Value [Member]
Schedule of Available-for-sale Securities [Line Items]
Gains (losses) from sales	604	(7,636)	4,944	(15,586)
Gains (losses) from fair value adjustments	14,943	36,987	52,361	18,662
Other Invested Assets [Member] | Fair Value [Member]
Schedule of Available-for-sale Securities [Line Items]
Gains (losses) from sales	(2)		(1)
Gains (losses) from fair value adjustments	$ (112,769)	$ (756)	(42,094)	$ (756)
Short-Term Investments [Member] | Fair Value [Member]
Schedule of Available-for-sale Securities [Line Items]
Gain (losses) on sale of subsidiary			$ 1

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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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Proceeds from sales of securities	$ 359,496	$ 110,429	$ 652,490	$ 298,475
Gross gains from sales	7,748	6,154	15,743	7,618
Gross losses from sales	(1,241)	(5,764)	(2,771)	(24,083)
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Proceeds from sales of securities	115,602	335,831	249,653	421,980
Gross gains from sales	3,562	4,853	11,575	6,635
Gross losses from sales	$ (2,958)	$ (12,489)	$ (6,631)	$ (22,221)

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Reserves For Losses And LAE (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	Dec. 31, 2015
Reserves For Losses And LAE [Line Items]
Increase (decrease) in reinsurance business	$ 2,294	$ (91,682)
Increase (decrease) in insurance business	2,294	91,682
Case reserve established by the Company on direct excess insurance claims	$ 8,286,599	8,331,288	$ 7,940,720
Construction Liability, Umbrella, and Workers Compensation Reserves [Member]
Reserves For Losses And LAE [Line Items]
Increase (decrease) in reinsurance business		96,227
Property And Short-Tail Business [Member]
Reserves For Losses And LAE [Line Items]
Increase (decrease) in insurance business		187,909
Explosion, Port Of Tianjin, China [Member]
Reserves For Losses And LAE [Line Items]
Increase (decrease) in reinsurance business		15,305
Explosion, Port Of Tianjin, China [Member] | Estimated [Member]
Reserves For Losses And LAE [Line Items]
Increase (decrease) in reinsurance business			$ 21,566
Explosion, Port Of Tianjin, China [Member] | Projected [Member]
Reserves For Losses And LAE [Line Items]
Increase (decrease) in reinsurance business		6,261
A&E Reserves [Member]
Reserves For Losses And LAE [Line Items]
Increase (decrease) in insurance business		$ 45,668

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Reserves For Losses And LAE (Summary Of Activity In The Reserve For Losses And LAE) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Reserves For Losses And LAE [Abstract]
Gross reserves at beginning of period	$ 8,331,288	$ 7,940,720
Less reinsurance recoverable	(4,199,791)	(3,875,073)
Net reserves at beginning of period	4,131,497	4,065,647
Incurred related to: Current year	584,656	1,441,962
Incurred related to: Prior years	2,294	(91,682)
Total incurred losses and LAE	586,950	1,350,280
Paid related to: Current year	165,100	400,489
Paid related to: Prior years	493,405	892,207
Total paid losses and LAE	658,505	1,292,696
Foreign exchange/translation adjustment	(6,122)	8,266
Net reserves at end of period	4,053,820	4,131,497
Plus reinsurance recoverable	4,232,779	4,199,791
Gross reserves at end of period	$ 8,286,599	$ 8,331,288

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Fair Value (Narrative) (Details) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2017 USD ($)	Jun. 30, 2017 USD ($) security	Dec. 31, 2016 USD ($) security
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of public equity portfolio	$ 169,165	$ 169,165	$ 133,755
Transfers between Level 1 and Level 2	0	0
Transfers from level 3
Investments within other invested assets	1,724,532	1,724,532	1,766,626
Available For Sale Securities Debt Securities Market Value	6,140,028	6,140,028	5,970,496
NAV Practical Expedient Guidance ASU 2015-07
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments within other invested assets	52,139	$ 52,139	$ 18,801
Private Placement [Member] | Unavailability Of Prices [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of securities | security		46	42
Available For Sale Securities Debt Securities Market Value	$ 89,291	$ 89,291	$ 86,536

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Fair Value (Fair Value Measurement Levels For All Assets, Recorded At Fair And Market Value)(Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	$ 6,140,028	$ 5,970,496
Equity securities - available for sale, at fair value	934,110	887,800
Other invested assets, at fair value	1,724,532	1,766,626
Quoted Prices in Active Markets For Identical Assets Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value
Equity securities - available for sale, at fair value	893,660	827,237
Other invested assets, at fair value
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	6,050,737	5,902,761
Equity securities - available for sale, at fair value	40,450	60,563
Other invested assets, at fair value
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	89,291	67,735
Equity securities - available for sale, at fair value
Other invested assets, at fair value	1,724,532	1,766,626
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	666,777	691,080
U.S. Treasury Securities And Obligations Of U.S. Government Agencies And Corporations [Member] | Quoted Prices in Active Markets For Identical Assets Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value
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	666,777	691,080
U.S. Treasury Securities And Obligations Of U.S. Government Agencies And Corporations [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
Obligations of U.S. States and Political Subdivisions [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	696,783	729,984
Obligations of U.S. States and Political Subdivisions [Member] | Quoted Prices in Active Markets For Identical Assets Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value
Obligations of U.S. 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	696,783	729,984
Obligations of U.S. States and Political Subdivisions [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
Corporate Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	2,301,001	2,154,203
Corporate Securities [Member] | Quoted Prices in Active Markets For Identical Assets Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value
Corporate 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	2,214,861	2,089,006
Corporate 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	86,140	65,197
Asset-backed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	189,989	137,027
Asset-backed Securities [Member] | Quoted Prices in Active Markets For Identical Assets Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value
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	189,989	137,027
Asset-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
Commercial Mortgage-Backed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	73,245	75,493
Commercial Mortgage-Backed Securities [Member] | Quoted Prices in Active Markets For Identical Assets Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value
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	73,245	75,493
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
Agency Residential [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	683,681	715,144
Agency Residential [Member] | Quoted Prices in Active Markets For Identical Assets Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value
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	683,681	715,144
Agency Residential [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
Non-agency Residential [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	70	88
Non-agency Residential [Member] | Quoted Prices in Active Markets For Identical Assets Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value
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	70	88
Non-agency Residential [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
Foreign Government Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	501,387	507,277
Foreign Government Securities [Member] | Quoted Prices in Active Markets For Identical Assets Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value
Foreign Government 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	501,387	507,277
Foreign Government 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
Foreign Corporate Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value	1,027,095	960,200
Foreign Corporate Securities [Member] | Quoted Prices in Active Markets For Identical Assets Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities - available for sale, at market value
Foreign Corporate 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	1,023,944	957,662
Foreign Corporate 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	$ 3,151	$ 2,538

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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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 87,124	$ 16,302	$ 67,735	$ 5,526
Total gains or (losses) (realized/unrealized), Included in earnings	839	(18)	1,029	(1,007)
Total gains or (losses) (realized/unrealized), Included in other comprehensive income (loss)	172	1,398	143	1,392
Purchases, issuances and settlements	1,156	16,749	20,384	28,520
Transfers in and/or (out) of Level 3
Ending balance	89,291	34,431	89,291	34,431
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				(997)
Corporate Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	84,322	15,706	65,197	3,933
Total gains or (losses) (realized/unrealized), Included in earnings	711	(18)	925	(10)
Total gains or (losses) (realized/unrealized), Included in other comprehensive income (loss)	172	(27)	143	(33)
Purchases, issuances and settlements	935	16,749	19,875	28,520
Transfers in and/or (out) of Level 3
Ending balance	86,140	32,410	86,140	32,410
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
Foreign Corporate Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	2,802	596	2,538	1,593
Total gains or (losses) (realized/unrealized), Included in earnings	128		104	(997)
Total gains or (losses) (realized/unrealized), Included in other comprehensive income (loss)		1,425		1,425
Purchases, issuances and settlements	221		509
Transfers in and/or (out) of Level 3
Ending balance	3,151	$ 2,021	3,151	2,021
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				$ (997)

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Fair Value (Fair Value Measurements Using Significant Unobservable Inputs for Equity Index Put Option Contracts) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Fair Value [Abstract]
Beginning Balance	$ 1,837,302	$ 1,773,214	$ 1,766,626	$ 1,773,214
Total gains or (losses) (realized/unrealized) Included in earnings	(112,769)	(756)	(42,094)	(756)
Total gains or (losses) (realized/unrealized) Included in other comprehensive income (loss)
Purchases, issuances and settlements
Transfers in and/or (out) of Level 3
Ending Balance	1,724,532	1,772,458	1,724,532	1,772,458
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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Commitments And Contingencies (Estimated Cost To Replace All Such Annuities For Which The Company Was Contingently Liable) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
The Prudential [Member]
Loss Contingencies [Line Items]
Estimated cost to replace annuities	$ 146,923	$ 146,507
Unaffiliated Life Insurance Company [Member]
Loss Contingencies [Line Items]
Estimated cost to replace annuities	$ 33,107	$ 33,860

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Comprehensive Income (Loss) (Components Of Comprehensive Income (Loss) In The Consolidated Statements Of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Total, Before Tax	$ 11,884	$ 86,202	$ 29,641	$ 181,264
Total, Tax Effect	(4,160)	(30,171)	(10,374)	(63,446)
Total, Net of Tax	7,724	56,031	19,267	117,818
URA(D) On Securities [Member]
Before Tax	5,784	53,960	23,804	83,916
Tax Effect	(1,753)	(18,886)	(8,060)	(29,370)
Net of Tax	4,031	35,074	15,744	54,546
Reclassification, Before Tax	(4,931)	(97)	(10,265)	39,773
Reclassification, Tax Effect	1,454	34	3,321	(13,921)
Reclassification, Net of Tax	(3,477)	(63)	(6,944)	25,852
Total, Net of Tax			8,800		$ 22,063
URA(D) On Securities - OTTI [Member]
Before Tax	(317)	6,446	(3,816)	6,643
Tax Effect	111	(2,256)	1,336	(2,325)
Net of Tax	(206)	4,190	(2,480)	4,318
Total, Net of Tax			(2,480)		3,324
Foreign Currency Translation Adjustments [Member]
Before Tax	8,265	23,830	13,752	46,807
Tax Effect	(2,893)	(8,341)	(4,813)	(16,386)
Net of Tax	5,372	15,489	8,939	30,421
Total, Net of Tax			8,939		2,849
Benefit Plan Net Gain (Loss) [Member]
Before Tax
Tax Effect
Net of Tax
Reclassification, Before Tax	3,083	2,063	6,166	4,125
Reclassification, Tax Effect	(1,079)	(722)	(2,158)	(1,444)
Reclassification, Net of Tax	$ 2,004	$ 1,341	4,008	$ 2,681
Total, Net of Tax			$ 4,008		$ (2,415)

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Comprehensive Income (Loss) (Reclassification From Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended					6 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net realized capital gains (losses)	$ (90,717)			$ 30,556		$ 28,183	$ (12,806)
Income tax expense (benefit)	8,601	$ (75,769)	$ (22,425)	(33,677)	$ (13,256)	(67,168)	(46,933)	$ (69,358)	$ (97,347)	$ (194,896)	$ (204,687)
Net income (loss)	35,658	$ 169,178	$ 76,303	69,372	$ 40,990	204,836	110,362	$ 186,665	$ 301,644	$ 412,390	$ 453,428
URA(D) On Securities [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other underwriting expenses	(4,931)			(97)		(10,265)	39,773
Income tax expense (benefit)	1,454			34		3,321	(13,921)
Net income (loss)	(3,477)			(63)		(6,944)	25,852
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)	(4,931)			(97)		(10,265)	39,773
Income tax expense (benefit)	1,454			34		3,321	(13,921)
Net income (loss)	(3,477)			(63)		(6,944)	25,852
Benefit Plan Net Gain (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other underwriting expenses	3,083			2,063		6,166	4,125
Income tax expense (benefit)	(1,079)			(722)		(2,158)	(1,444)
Net income (loss)	$ 2,004			$ 1,341		$ 4,008	$ 2,681

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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		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Balance, beginning of period	$ 5,479,344	$ 5,065,880	$ 5,298,553	$ 4,958,310	$ 4,958,310
Current period change	7,724	56,031	19,267	117,818
Balance, end of period	5,522,794	$ 5,194,238	5,522,794	5,194,238	5,298,553
Ending balance of accumulated other comprehensive income (loss)	(17,048)		(17,048)		(36,315)
URA(D) On Securities [Member]
Balance, beginning of period			39,041	13,654	13,654
Current period change			8,800		22,063
Balance, end of period	45,361		45,361		39,041
URA(D) On Securities - OTTI [Member]
Current period change			(2,480)		3,324
Foreign Currency Translation Adjustments [Member]
Balance, beginning of period			(9,852)	(12,701)	(12,701)
Current period change			8,939		2,849
Balance, end of period	(913)		(913)		(9,852)
Benefit Plan Net Gain (Loss) [Member]
Balance, beginning of period			(65,504)	$ (63,089)	(63,089)
Current period change			4,008		(2,415)
Balance, end of period	$ (61,496)		$ (61,496)		$ (65,504)

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Collateralized Reinsurance And Trust Agreements (Narrative) (Details) $ in Thousands					6 Months Ended
	Apr. 13, 2017 USD ($) item	Dec. 01, 2015 USD ($) item	Nov. 18, 2014 USD ($)	Apr. 24, 2014 USD ($) item	Jun. 30, 2017 USD ($)
Effects of Reinsurance [Line Items]
Amount on deposit in trust accounts					$ 649,841
Kilimanjaro Re Limited [Member]
Effects of Reinsurance [Line Items]
Number of collateralized reinsurance agreements | item	6	2		2
Kilimanjaro Re Limited [Member] | Catastrophe Reinsurance [Member]
Effects of Reinsurance [Line Items]
Reinsurance coverage amount			$ 500,000
Catastrophe reinsurance bonds, funded amount		$ 625,000	$ 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
Kilimanjaro Re Limited [Member] | Catastrophe Reinsurance Agreement 1 [Member]
Effects of Reinsurance [Line Items]
Reinsurance coverage amount	$ 225,000	300,000
Catastrophe reinsurance bonds, funded amount	950,000
Kilimanjaro Re Limited [Member] | Catastrophe Reinsurance Agreement 2 [Member]
Effects of Reinsurance [Line Items]
Reinsurance coverage amount	400,000	$ 325,000
Catastrophe reinsurance bonds, funded amount	300,000
Kilimanjaro Re Limited [Member] | Catastrophe Reinsurance Agreement 3 [Member]
Effects of Reinsurance [Line Items]
Reinsurance coverage amount	$ 325,000
Kilimanjaro Re Limited [Member] | Catastrophe Reinsurance Agreements 1- 3 [Member]
Effects of Reinsurance [Line Items]
Number of collateralized reinsurance agreements | item	3
Reinsurance Contracts					4 years
Kilimanjaro Re Limited [Member] | Catastrophe Reinsurance Agreement 4 [Member]
Effects of Reinsurance [Line Items]
Reinsurance coverage amount	$ 50,000
Kilimanjaro Re Limited [Member] | Catastrophe Reinsurance Agreement 5 [Member]
Effects of Reinsurance [Line Items]
Reinsurance coverage amount	75,000
Kilimanjaro Re Limited [Member] | Catastrophe Reinsurance Agreement 6 [Member]
Effects of Reinsurance [Line Items]
Reinsurance coverage amount	$ 175,000
Kilimanjaro Re Limited [Member] | Catastrophe Reinsurance Agreements 4 - 6 [Member]
Effects of Reinsurance [Line Items]
Number of collateralized reinsurance agreements | item	3
Reinsurance Contracts					5 years

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Senior Notes (Narrative) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
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

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Senior Notes (Schedule Of Outstanding Senior Notes) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Assets Sold under Agreements to Repurchase [Line Items]
Consolidated Balance Sheet Amount	$ 396,774,000	$ 396,714,000
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 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	396,774,000	$ 396,714,000
Market value	$ 421,764,000	$ 383,612,000

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Senior Notes (Schedule Of Interest Expense Incurred In Connection With Senior Notes) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Senior Notes [Abstract]
Interest expense incurred	$ 4,868	$ 4,868	$ 9,736	$ 9,736

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Long Term Subordinated Notes (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
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%
Reset quarterly interest rate	3.56678%
Outstanding debt reduction	$ 161,441
Debt instrument, maturity date	May 01, 2067	May 01, 2067
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 5.40% [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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Long Term Subordinated Notes (Schedule Of Outstanding Fixed To Floating Rate Long Term Subordinated Notes) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Consolidated Balance Sheet Amount	$ 236,511,000	$ 236,462,000
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
Maturity date	May 01, 2067	May 01, 2067
Consolidated Balance Sheet Amount	$ 236,511,000	$ 236,462,000
Market value	$ 223,053,000	$ 204,636,000
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

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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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Long Term Subordinated Notes [Abstract]
Interest expense incurred	$ 3,033	$ 3,937	$ 6,970	$ 7,874

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Segment Reporting (Narrative) (Details)	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Percentage of revenues	5.00%	5.00%	1.00%

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Segment Reporting (Schedule Of Underwriting Results For Operating Segments) (Details) - USD ($) $ in Thousands	3 Months Ended					6 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Premiums earned	$ 468,197			$ 488,855		$ 939,252	$ 970,780
Incurred losses and LAE	297,228			338,536		586,950	634,598
Commission and brokerage	60,513	$ 52,507	$ 82,778	70,409	$ 66,365	113,020	136,774	$ 219,552	$ 281,424	$ 312,325	$ 338,975
Other underwriting expenses	64,197			58,330		124,092	117,557
Underwriting gain (loss)	46,259			21,580		115,190	81,851
U.S. Reinsurance [Member]
Segment Reporting Information [Line Items]
Gross written premiums	474,992			405,530		1,053,951	942,236
Net written premiums	135,177			161,031		354,239	384,458
Premiums earned	202,289			224,618		410,603	459,861
Incurred losses and LAE	119,747			110,152		240,181	226,322
Commission and brokerage	43,173			50,130		83,545	99,861
Other underwriting expenses	14,278			12,133		28,529	25,591
Underwriting gain (loss)	25,091			52,203		58,348	108,087
International [Member]
Segment Reporting Information [Line Items]
Gross written premiums	333,535			348,178		612,110	586,656
Net written premiums	111,961			124,438		215,207	212,154
Premiums earned	113,300			131,285		231,451	244,458
Incurred losses and LAE	78,459			91,427		146,873	164,842
Commission and brokerage	23,790			26,140		47,325	52,250
Other underwriting expenses	9,163			7,969		18,052	15,792
Underwriting gain (loss)	1,888			5,749		19,201	11,574
Insurance [Member]
Segment Reporting Information [Line Items]
Gross written premiums	527,047			424,083		921,898	778,803
Net written premiums	170,774			155,786		297,302	308,712
Premiums earned	152,608			132,952		297,198	266,461
Incurred losses and LAE	99,022			136,957		199,896	243,434
Commission and brokerage	(6,450)			(5,861)		(17,850)	(15,337)
Other underwriting expenses	40,756			38,228		77,511	76,174
Underwriting gain (loss)	$ 19,280			$ (36,372)		$ 37,641	$ (37,810)

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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					6 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting [Abstract]
Underwriting gain (loss)	$ 46,259			$ 21,580		$ 115,190	$ 81,851
Net investment income	71,900			73,872		132,749	132,317
Net realized capital gains (losses)	(92,291)			29,165		25,477	(37,212)
Corporate expense	(1,512)			(2,010)		(5,109)	(4,346)
Interest, fee and bond issue cost amortization expense	(7,954)			(8,858)		(16,813)	(17,717)
Other income (expense)	10,655			(10,700)		20,510	2,402
INCOME (LOSS) BEFORE TAXES	$ 27,057	$ 244,947	$ 98,728	$ 103,049	$ 54,246	$ 272,004	$ 157,295	$ 256,023	$ 398,991	$ 607,286	$ 658,115

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Segment Reporting (Schedule Of Gross Written Premium Derived From Largest Non-U.S. Market) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Canada [Member]
Segment Reporting Information [Line Items]
Gross written premiums	$ 36,195	$ 34,630	$ 64,152	$ 58,216

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Related-Party Transactions (Narrative) (Details) $ / shares in Units, $ in Thousands, £ in Millions	1 Months Ended	6 Months Ended
	Dec. 31, 2015 USD ($) $ / shares shares	Jun. 30, 2017 GBP (£) shares	Jun. 30, 2017 USD ($) shares	Jun. 30, 2016 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2014 USD ($)
Note receivable - affiliated			$ 250,000		$ 250,000
Interest income			$ 2,150	$ 2,150
Stock repurchase program, number of shares held | shares	9,719,971	9,719,971	9,719,971
Stock repurchase program, value of shares held	$ 1,773,214
Number of preferred shares | shares	1,773.214
Preferred shares par value | $ / shares	$ 1,000
Annual dividend rate	1.75%
Reserve Indemnity Agreement, Percent		90.00%	90.00%
Reserve Indemnity Agreement, Amount | £		£ 25
Parent Company [Member]
Note receivable - affiliated						$ 250,000
Debt instrument, stated interest rate			1.72%
Maturity date		Dec. 31, 2023	Dec. 31, 2023

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Related-Party Transactions (Amendments To The Share Repurchase Program For The Common Shares Approved For Repurchase) (Details)	Jun. 30, 2017 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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Related-Party Transactions (Dividends Received On Common Shares Reported As Net Investment Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Dividends From Preferred Shares Of Affiliate [Member]
Related Party Transaction [Line Items]
Dividends received on preferred stock of affiliate	$ 7,758	$ 7,758	$ 15,516	$ 15,516

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Related-Party Transactions (Expenses Incurred By Holdings From Services Provided By Affiliated Company) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Related-Party Transactions [Abstract]
Expenses incurred	$ 23,046	$ 20,289	$ 46,229	$ 41,459

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Related-Party Transactions (Affiliated Quota Share Reinsurance Agreements For All New And Renewal Business For The Indicated Coverage Period) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017 USD ($)
Everest Re [Member]
Related Party Transaction [Line Items]
Assuming Company	Bermuda Re
Everest Re [Member] | Bermuda Re [Member] | 01/01/2010-12/31/2010 [Member]
Related Party Transaction [Line Items]
Ceding Company	Everest Re
Percent Ceded	44.00%
Assuming Company	Bermuda Re
Type of 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
Percent Ceded	50.00%
Assuming Company	Bermuda Re
Type of 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
Percent Ceded	50.00%
Assuming Company	Bermuda Re
Type of Business	property / casualty business
Single Occurrence Limit	$ 100,000
Aggregate Limit	$ 200,000
Everest Re [Member] | Bermuda Re [Member] | 01/01/2015 -12/31/2016 [Member]
Related Party Transaction [Line Items]
Ceding Company	Everest Re
Percent Ceded	50.00%
Assuming Company	Bermuda Re
Type of Business	property / casualty business
Single Occurrence Limit	$ 162,500
Aggregate Limit	$ 325,000
Everest Re [Member] | Bermuda Re [Member] | 01/01/2017 [Member]
Related Party Transaction [Line Items]
Ceding Company	Everest Re
Percent Ceded	60.00%
Assuming Company	Bermuda Re
Type of Business	property / casualty business
Single Occurrence Limit	$ 219,000
Aggregate Limit	$ 438,000
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
Percent Ceded	60.00%
Assuming Company	Bermuda Re
Type of Business	property business
Single Occurrence Limit	$ 350,000	[1]
Aggregate Limit
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
Percent Ceded	60.00%
Assuming Company	Bermuda Re
Type of Business	property business
Single Occurrence Limit	$ 350,000	[1]
Aggregate Limit
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
Percent Ceded	75.00%
Assuming Company	Bermuda Re
Type of Business	property / casualty business
Single Occurrence Limit	$ 206,250	[1]
Aggregate Limit	$ 412,500	[1]
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
Percent Ceded	75.00%
Assuming Company	Bermuda Re
Type of Business	property / casualty business
Single Occurrence Limit	$ 150,000	[1]
Aggregate Limit	$ 412,500	[1]
Everest Re- Canadian Branch [Member] | Bermuda Re [Member] | 01/01/2014 [Member]
Related Party Transaction [Line Items]
Ceding Company	Everest Re- Canadian Branch
Percent Ceded	75.00%
Assuming Company	Bermuda Re
Type of Business	property / casualty business
Single Occurrence Limit	$ 262,500	[1]
Aggregate Limit	$ 412,500	[1]
Everest Canada [Member] | Everest Re- Canadian Branch [Member] | 01/01/2012 [Member]
Related Party Transaction [Line Items]
Ceding Company	Everest Canada
Percent Ceded	80.00%
Assuming Company	Everest Re- Canadian Branch
Type of Business	property business
Single Occurrence Limit
Aggregate Limit

[1] (1) Amounts shown are Canadian dollars.

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Related-Party Transactions (Schedule Of Loss Portfolio Transfer Reinsurance Agreements, Net Insurance Exposures And Reserves Were Transferred To An Affiliate) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017 USD ($)
Mt. McKinley [Member]
Related Party Transaction [Line Items]
Effective Date	Sep. 19, 2000
Assuming Company	Bermuda Re
% of Business or Amount of 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 or Amount of 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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Related-Party Transactions (Premiums And Losses Ceded By The Company To Affiliate) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Bermuda Re [Member]
Related Party Transaction [Line Items]
Ceded written premiums	$ 681,776	$ 544,495	$ 1,316,672	$ 1,061,178
Ceded earned premiums	620,897	593,349	1,209,771	1,132,302
Ceded losses and LAE	388,573	404,667	728,704	695,143
Everest International [Member]
Related Party Transaction [Line Items]
Ceded written premiums	45	62	(25)	31
Ceded earned premiums	46	63	(25)	39
Ceded losses and LAE	(175)	756	(618)	898
Everest Canada [Member]
Related Party Transaction [Line Items]
Assumed written premiums	13,132	16,228	25,980	26,427
Assumed earned premiums	11,884	12,675	24,737	23,129
Assumed losses and LAE	7,319	14,440	13,970	21,427
Lloyd's Syndicate [Member]
Related Party Transaction [Line Items]
Assumed written premiums	10,236	(157)	18,085	539
Assumed earned premiums	9,797	28	16,724	116
Assumed losses and LAE	4,831		8,264
Mt. Logan Re Segregated Accounts [Member]
Related Party Transaction [Line Items]
Ceded written premiums	38,703	29,450	77,882	70,381
Ceded earned premiums	50,708	39,356	84,665	74,228
Ceded losses and LAE	23,674	16,232	43,433	25,330
Assumed written premiums	3,763	3,074	6,495	6,634
Assumed earned premiums	3,763	3,074	6,495	6,634
Assumed losses and LAE

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Retirement Benefits (Summary Of Pension Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Pension contributions	$ 0	$ 0	$ 0	$ 0
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	3,299	2,896	6,598	5,793
Interest cost	2,276	2,361	4,552	4,722
Expected return on plan assets	(3,154)	(2,484)	(6,309)	(4,968)
Amortization of net (income) loss	3,041	2,014	6,081	4,028
Net periodic benefit cost	5,461	4,787	10,921	9,575
Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	441	438	881	876
Interest cost	249	296	498	592
Amortization of prior service cost	(33)		(66)
Amortization of net (income) loss	75	48	151	96
Net periodic benefit cost	$ 732	$ 782	$ 1,464	$ 1,564

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Disposition (Narrative) (Details) - Heartland Corp [Member] $ in Thousands	Aug. 24, 2016 USD ($)
Gain (Loss) on Investments [Line Items]
Proceeds from sale of business	$ 49,000
Gain (Loss) on Sale of Business	$ 12,942