v2.3.0.15
Consolidated Statements Of Income And Comprehensive Income (Loss) (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
OPERATING REVENUES    
Earned premiums$ 509,203$ 435,355$ 1,462,515$ 1,264,178
Net investment income62,19968,652196,551201,438
Net realized investment gains:    
Other-than-temporary impairment losses(9,846)0(11,553)(5,701)
Other-than-temporary impairment losses recognized in other comprehensive income (loss)(138)0(3,306)(563)
Other-than-temporary impairment losses recognized in net income(9,984)0(14,859)(6,264)
Net realized investment gains, excluding other-than-temporary impairment losses22,8238,78240,28228,360
Net realized investment gains12,8398,78225,42322,096
Other revenues91,84748,565260,361125,775
Total Operating Revenues676,088561,3541,944,8501,613,487
OPERATING EXPENSES    
Losses and loss adjustment expenses306,632224,840927,643736,245
Underwriting, acquisition and insurance expenses202,316181,640601,511517,414
Amortization of intangible assets6,0233,90317,58611,717
Other expenses70,30241,074218,270109,440
Total Operating Expenses585,273451,4571,765,0101,374,816
Operating Income90,815109,897179,840238,671
Interest expense23,65618,59864,51654,891
Income Before Income Taxes67,15991,299115,324183,780
Income tax expense12,49028,14219,14556,500
Net Income54,66963,15796,179127,280
Net income (loss) attributable to noncontrolling interests1,405(93)4,329630
Net Income to Shareholders53,26463,25091,850126,650
OTHER COMPREHENSIVE INCOME (LOSS)    
Net holding gains (losses) arising during the period(90,330)167,638(5,606)215,152
Unrealized other-than-temporary impairment losses on fixed maturities arising during the period189(295)1,657606
Reclassification adjustments for net gains included in net income(7,995)(5,744)(15,286)(19,383)
Change in net unrealized gains on investments, net of taxes(98,136)161,599(19,235)196,375
Change in foreign currency translation adjustments, net of taxes(8,133)129(5,538)2,089
Change in net actuarial pension loss, net of taxes3793501,0801,036
Total Other Comprehensive Income (Loss)(105,890)162,078(23,693)199,500
Comprehensive Income (Loss)(51,221)225,23572,486326,780
Comprehensive income (loss) attributable to noncontrolling interests1,405(93)4,329816
Comprehensive Income (Loss) to Shareholders$ (52,626)$ 225,328$ 68,157$ 325,964
NET INCOME PER SHARE    
Basic$ 5.50$ 6.49$ 9.46$ 12.94
Diluted$ 5.48$ 6.48$ 9.42$ 12.93