Segment Information (Details) (USD $)
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3 Months Ended | 12 Months Ended | ||||||||||||||||
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Dec. 31, 2011
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Sep. 30, 2011
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Jun. 30, 2011
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Mar. 31, 2011
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Dec. 31, 2010
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Sep. 30, 2010
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Jun. 30, 2010
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Mar. 31, 2010
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Dec. 31, 2011
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Dec. 31, 2010
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Dec. 31, 2009
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Segment Reporting Information [Line Items] | ||||||||||||||||||
Gross premiums written | $ 3,436,456,000 | [1] | $ 3,266,787,000 | [1] | $ 3,592,931,000 | [1] | ||||||||||||
Net premiums written | 511,124,000 | 691,381,000 | 706,543,000 | 764,278,000 | 482,911,000 | 636,117,000 | 624,258,000 | 767,754,000 | 2,673,326,000 | 2,511,040,000 | 2,763,112,000 | |||||||
Net premiums earned | 673,192,000 | 682,049,000 | 642,879,000 | 633,695,000 | 632,146,000 | 627,409,000 | 623,011,000 | 669,917,000 | 2,631,815,000 | 2,552,483,000 | 2,842,745,000 | |||||||
Fee income | 982,000 | 848,000 | 784,000 | 815,000 | 2,814,000 | 874,000 | 883,000 | 794,000 | 3,429,000 | 5,365,000 | 3,462,000 | |||||||
Losses and loss adjustment expenses | (378,067,000) | (423,984,000) | (431,622,000) | (493,880,000) | (367,326,000) | (359,193,000) | (363,145,000) | (428,051,000) | (1,727,553,000) | (1,517,715,000) | (1,654,674,000) | |||||||
Acquisition expenses, net | (123,339,000) | (120,205,000) | (110,639,000) | (108,754,000) | (104,824,000) | (111,279,000) | (107,475,000) | (117,624,000) | (462,937,000) | (441,202,000) | (493,560,000) | |||||||
Other expenses | (400,100,000) | (403,927,000) | (361,907,000) | |||||||||||||||
Underwriting income | 44,654,000 | 195,004,000 | 336,066,000 | |||||||||||||||
Net investment income | 80,467,000 | 82,753,000 | 86,671,000 | 88,307,000 | 90,601,000 | 90,768,000 | 90,537,000 | 92,972,000 | 338,198,000 | 364,878,000 | 390,131,000 | |||||||
Net realized gains (losses) | 14,542,000 | 30,199,000 | 45,210,000 | 20,695,000 | 74,027,000 | 68,828,000 | 62,114,000 | 47,782,000 | 110,646,000 | 252,751,000 | 143,582,000 | |||||||
Net impairment losses recognized in earnings | (1,959,000) | (2,739,000) | (1,684,000) | (2,680,000) | (3,230,000) | (2,075,000) | (4,410,000) | (1,606,000) | (9,062,000) | (11,321,000) | (66,133,000) | |||||||
Equity in net income of investment funds accounted for using the equity method | (14,702,000) | (30,549,000) | 5,973,000 | 29,673,000 | 22,990,000 | 9,708,000 | (348,000) | 29,050,000 | (9,605,000) | 61,400,000 | 167,819,000 | |||||||
Other income | (4,848,000) | 2,432,000 | (4,265,000) | 4,567,000 | 6,165,000 | 1,840,000 | 4,528,000 | 5,978,000 | (2,114,000) | 18,511,000 | 20,016,000 | |||||||
Other expenses | (31,380,000) | (28,868,000) | (30,231,000) | |||||||||||||||
Interest expense | (8,087,000) | (8,125,000) | (7,758,000) | (7,721,000) | (7,460,000) | (7,371,000) | (7,916,000) | (7,260,000) | (31,691,000) | (30,007,000) | (24,440,000) | |||||||
Net foreign exchange (gains) losses | 12,613,000 | 60,040,000 | (18,375,000) | (36,912,000) | 6,039,000 | (65,157,000) | 48,625,000 | 38,601,000 | 17,366,000 | 28,108,000 | (39,157,000) | |||||||
Income before income taxes | 427,012,000 | 850,456,000 | 897,653,000 | |||||||||||||||
Income tax benefit (expense) | 4,977,000 | 2,267,000 | 1,731,000 | 371,000 | 3,505,000 | (3,200,000) | (1,420,000) | (6,753,000) | 9,346,000 | (7,868,000) | (20,708,000) | |||||||
Net income | 143,272,000 | 168,988,000 | 98,342,000 | 25,756,000 | 234,112,000 | 148,031,000 | 243,451,000 | 216,994,000 | 436,358,000 | 842,588,000 | 876,945,000 | |||||||
Dividends declared on preferred shares | (6,461,000) | (6,461,000) | (6,461,000) | (6,461,000) | (6,461,000) | (6,461,000) | (6,461,000) | (6,461,000) | (25,844,000) | (25,844,000) | (25,844,000) | |||||||
Net income available to common shareholders | 136,811,000 | 162,527,000 | 91,881,000 | 19,295,000 | 227,651,000 | 141,570,000 | 236,990,000 | 210,533,000 | 410,514,000 | 816,744,000 | 851,101,000 | |||||||
Insurance Ratios [Abstract] | ||||||||||||||||||
Loss ratio | 65.60% | 59.50% | 58.20% | |||||||||||||||
Acquisition expense ratio | 17.50% | [2] | 17.20% | [2] | 17.20% | [2] | ||||||||||||
Other operating expense ratio | 15.20% | 15.80% | 12.70% | |||||||||||||||
Combined ratio | 98.30% | 92.50% | 88.10% | |||||||||||||||
Insurance Segment [Member]
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Segment Reporting Information [Line Items] | ||||||||||||||||||
Gross premiums written | 2,444,485,000 | [1] | 2,402,202,000 | [1] | 2,512,127,000 | [1] | ||||||||||||
Net premiums written | 1,721,279,000 | [1] | 1,658,963,000 | [1] | 1,704,284,000 | [1] | ||||||||||||
Net premiums earned | 1,679,047,000 | [1] | 1,651,106,000 | [1] | 1,688,519,000 | [1] | ||||||||||||
Fee income | 2,870,000 | 3,252,000 | 3,362,000 | |||||||||||||||
Losses and loss adjustment expenses | (1,172,742,000) | (1,117,564,000) | (1,139,415,000) | |||||||||||||||
Acquisition expenses, net | (278,696,000) | (263,201,000) | (238,261,000) | |||||||||||||||
Other expenses | (306,801,000) | (312,404,000) | (281,340,000) | |||||||||||||||
Underwriting income | (76,322,000) | (38,811,000) | 32,865,000 | |||||||||||||||
Insurance Ratios [Abstract] | ||||||||||||||||||
Loss ratio | 69.80% | 67.70% | 67.50% | |||||||||||||||
Acquisition expense ratio | 16.40% | [2] | 15.70% | [2] | 13.90% | [2] | ||||||||||||
Other operating expense ratio | 18.30% | 18.90% | 16.70% | |||||||||||||||
Combined ratio | 104.50% | 102.30% | 98.10% | |||||||||||||||
Reinsurance Segment [Member]
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Segment Reporting Information [Line Items] | ||||||||||||||||||
Gross premiums written | 998,520,000 | [1] | 874,957,000 | [1] | 1,093,940,000 | [1] | ||||||||||||
Net premiums written | 952,047,000 | [1] | 852,077,000 | [1] | 1,058,828,000 | [1] | ||||||||||||
Net premiums earned | 952,768,000 | [1] | 901,377,000 | [1] | 1,154,226,000 | [1] | ||||||||||||
Fee income | 559,000 | 2,113,000 | 100,000 | |||||||||||||||
Losses and loss adjustment expenses | (554,811,000) | (400,151,000) | (515,259,000) | |||||||||||||||
Acquisition expenses, net | (184,241,000) | (178,001,000) | (255,299,000) | |||||||||||||||
Other expenses | (93,299,000) | (91,523,000) | (80,567,000) | |||||||||||||||
Underwriting income | $ 120,976,000 | $ 233,815,000 | $ 303,201,000 | |||||||||||||||
Insurance Ratios [Abstract] | ||||||||||||||||||
Loss ratio | 58.20% | 44.40% | 44.60% | |||||||||||||||
Acquisition expense ratio | 19.30% | [2] | 19.70% | [2] | 22.10% | [2] | ||||||||||||
Other operating expense ratio | 9.80% | 10.20% | 7.00% | |||||||||||||||
Combined ratio | 87.30% | 74.30% | 73.70% | |||||||||||||||
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