|
Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Level 3 Inputs) (Details) (USD $) In Thousands, unless otherwise specified
|
3 Months Ended |
|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Other investments |
$ 652,802 |
|
|
$ 644,711 |
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Balance at beginning of the period |
434,799 |
|
452,813 |
|
|
| Total unrealized gains (losses) |
|
|
|
|
|
| Included in net investment income |
13,291 |
|
29,184 |
|
|
| Included in other income (loss) |
9,776 |
|
18,563 |
|
|
| Total realized gains (losses) |
|
|
|
|
|
| Included in other income (loss) |
6,108 |
|
(55,308) |
|
|
| Total foreign exchange gains (losses) |
(861) |
|
353 |
|
|
| Purchases |
10,785 |
|
21,970 |
|
|
| Sales |
(424) |
|
(13,431) |
|
|
| Settlements |
(21,873) |
|
40,376 |
|
|
| Reclassified from other assets to other investments |
0 |
|
|
|
|
| Net transfers into Level 3 |
0 |
|
0 |
|
|
| Balance at end of the period |
451,601 |
|
494,520 |
|
|
| Change in unrealized gains for the period included in earnings for assets held at the end of the period included in net investment income (loss) |
13,291 |
|
29,184 |
|
|
| Change in unrealized losses for the period included in earnings for assets held at the end of the period included in other (loss) income |
11,893 |
|
10,513 |
|
|
| Assets and (liabilities) at fair value |
22,958 |
|
|
29,085 |
|
|
Fixed maturity investments [Member]
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Balance at beginning of the period |
27,792 |
|
27,761 |
|
|
| Total unrealized gains (losses) |
|
|
|
|
|
| Included in net investment income |
275 |
|
77 |
|
|
| Included in other income (loss) |
0 |
|
0 |
|
|
| Total realized gains (losses) |
|
|
|
|
|
| Included in other income (loss) |
0 |
|
0 |
|
|
| Total foreign exchange gains (losses) |
0 |
|
0 |
|
|
| Purchases |
0 |
|
0 |
|
|
| Sales |
0 |
|
0 |
|
|
| Settlements |
0 |
|
0 |
|
|
| Reclassified from other assets to other investments |
0 |
|
|
|
|
| Net transfers into Level 3 |
0 |
|
0 |
|
|
| Balance at end of the period |
28,067 |
|
27,838 |
|
|
| Change in unrealized gains for the period included in earnings for assets held at the end of the period included in net investment income (loss) |
275 |
|
77 |
|
|
| Change in unrealized losses for the period included in earnings for assets held at the end of the period included in other (loss) income |
0 |
|
0 |
|
|
|
Other Investments [Member]
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Balance at beginning of the period |
381,067 |
|
396,526 |
|
|
| Total unrealized gains (losses) |
|
|
|
|
|
| Included in net investment income |
13,016 |
|
29,107 |
|
|
| Included in other income (loss) |
0 |
|
0 |
|
|
| Total realized gains (losses) |
|
|
|
|
|
| Included in other income (loss) |
0 |
|
0 |
|
|
| Total foreign exchange gains (losses) |
(781) |
|
730 |
|
|
| Purchases |
10,785 |
|
12,689 |
|
|
| Sales |
(424) |
|
0 |
|
|
| Settlements |
(19,699) |
|
(20,515) |
|
|
| Reclassified from other assets to other investments |
18,242 |
|
|
|
|
| Net transfers into Level 3 |
0 |
|
0 |
|
|
| Balance at end of the period |
402,206 |
|
418,537 |
|
|
| Change in unrealized gains for the period included in earnings for assets held at the end of the period included in net investment income (loss) |
13,016 |
|
29,107 |
|
|
| Change in unrealized losses for the period included in earnings for assets held at the end of the period included in other (loss) income |
0 |
|
0 |
|
|
|
Other Assets and (Liabilities) [Member]
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Balance at beginning of the period |
25,940 |
|
28,526 |
|
|
| Total unrealized gains (losses) |
|
|
|
|
|
| Included in net investment income |
0 |
|
0 |
|
|
| Included in other income (loss) |
9,776 |
|
18,563 |
|
|
| Total realized gains (losses) |
|
|
|
|
|
| Included in other income (loss) |
6,108 |
|
(55,308) |
|
|
| Total foreign exchange gains (losses) |
(80) |
|
(377) |
|
|
| Purchases |
0 |
|
9,281 |
|
|
| Sales |
0 |
|
(13,431) |
|
|
| Settlements |
(2,174) |
|
60,891 |
|
|
| Reclassified from other assets to other investments |
(18,242) |
|
|
|
|
| Net transfers into Level 3 |
0 |
|
0 |
|
|
| Balance at end of the period |
21,328 |
|
48,145 |
|
|
| Change in unrealized gains for the period included in earnings for assets held at the end of the period included in net investment income (loss) |
0 |
|
0 |
|
|
| Change in unrealized losses for the period included in earnings for assets held at the end of the period included in other (loss) income |
11,893 |
|
10,513 |
|
|
|
Fair Value, Inputs, Level 3 [Member]
|
|
|
|
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Assets, Fair Value Disclosure, Recurring |
451,601 |
|
|
|
|
| Other investments |
402,206 |
|
|
381,067 |
|
| Total realized gains (losses) |
|
|
|
|
|
| Assets (Liabilities), Fair Value Disclosure, Recurring |
21,328 |
|
|
|
|
| Assets and (liabilities) at fair value |
21,328 |
|
|
25,940 |
|
|
Fair Value, Inputs, Level 3 [Member] | Fixed maturity investments [Member]
|
|
|
|
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Assets, Fair Value Disclosure, Recurring |
28,067 |
|
|
|
|
|
Fair Value, Inputs, Level 3 [Member] | Other Investments [Member]
|
|
|
|
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Assets, Fair Value Disclosure, Recurring |
402,206 |
|
|
|
|
|
Fair Value, Inputs, Level 3 [Member] | Discounted Cash Flow Valuation Technique [Member] | Corporate [Member]
|
|
|
|
|
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| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Assets, Fair Value Disclosure, Recurring |
17,813 |
|
|
|
|
|
Fair Value, Inputs, Level 3 [Member] | Internal Valuation Model Valuation Technique [Member] | Corporate [Member]
|
|
|
|
|
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| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Assets, Fair Value Disclosure, Recurring |
10,254 |
|
|
|
|
|
Fair Value, Inputs, Level 3 [Member] | Internal Valuation Model Valuation Technique [Member] | Assumed And Ceded Re Insurance Contracts Member
|
|
|
|
|
|
| Total realized gains (losses) |
|
|
|
|
|
| Assets (Liabilities), Fair Value Disclosure, Recurring |
676 |
|
|
|
|
| Assets and (liabilities) at fair value |
676 |
|
|
|
|
|
Fair Value, Inputs, Level 3 [Member] | Internal Valuation Model Valuation Technique [Member] | Other [Member]
|
|
|
|
|
|
| Total realized gains (losses) |
|
|
|
|
|
| Assets (Liabilities), Fair Value Disclosure, Recurring |
625 |
|
|
|
|
|
Fair Value, Inputs, Level 3 [Member] | Net Asset Valuation Technique [Member] | Private Equity Funds [Member]
|
|
|
|
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Assets, Fair Value Disclosure, Recurring |
345,666 |
|
|
|
|
| Other investments |
345,666 |
|
|
|
|
|
Fair Value, Inputs, Level 3 [Member] | Net Asset Valuation Technique [Member] | Senior secured bank loan funds [Member]
|
|
|
|
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Assets, Fair Value Disclosure, Recurring |
28,537 |
|
|
|
|
| Other investments |
28,537 |
|
|
|
|
|
Fair Value, Inputs, Level 3 [Member] | Net Asset Valuation Technique [Member] | Hedge funds [Member]
|
|
|
|
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| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Assets, Fair Value Disclosure, Recurring |
5,219 |
|
|
|
|
| Other investments |
5,219 |
|
|
|
|
|
Fair Value, Inputs, Level 3 [Member] | Net Asset Valuation Technique [Member] | Other [Member]
|
|
|
|
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Assets, Fair Value Disclosure, Recurring |
22,784 |
|
|
|
|
| Total realized gains (losses) |
|
|
|
|
|
| Assets (Liabilities), Fair Value Disclosure, Recurring |
22,784 |
|
|
|
|
|
Weighted Average or Actual [Member] | Fair Value, Inputs, Level 3 [Member] | Discounted Cash Flow Valuation Technique [Member] | Corporate [Member]
|
|
|
|
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| Total realized gains (losses) |
|
|
|
|
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| Credit spread |
2.40% |
|
|
|
|
| Liquidity premium |
1.00% |
|
|
|
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| Risk-free rate |
0.10% |
|
|
|
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| Dividend rate |
5.90% |
|
|
|
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|
Weighted Average or Actual [Member] | Fair Value, Inputs, Level 3 [Member] | Net Asset Valuation Technique [Member] | Private Equity Funds [Member]
|
|
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|
|
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| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
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| Fair Value Inputs, Estimated Performance |
4.90% |
|
|
|
|
|
Weighted Average or Actual [Member] | Fair Value, Inputs, Level 3 [Member] | Net Asset Valuation Technique [Member] | Senior secured bank loan funds [Member]
|
|
|
|
|
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| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
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| Fair Value Inputs, Estimated Performance |
1.30% |
|
|
|
|
|
Weighted Average or Actual [Member] | Fair Value, Inputs, Level 3 [Member] | Net Asset Valuation Technique [Member] | Hedge funds [Member]
|
|
|
|
|
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| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Fair Value Inputs, Estimated Performance |
0.00% |
|
|
|
|
|
Weighted Average or Actual [Member] | Fair Value, Inputs, Level 3 [Member] | Net Asset Valuation Technique [Member] | Other [Member]
|
|
|
|
|
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| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Fair Value Inputs, Estimated Performance |
0.90% |
|
|
|
|
|
Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | Net Asset Valuation Technique [Member] | Private Equity Funds [Member]
|
|
|
|
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Fair Value Inputs, Estimated Performance |
(12.00%) |
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|
Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | Net Asset Valuation Technique [Member] | Senior secured bank loan funds [Member]
|
|
|
|
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Fair Value Inputs, Estimated Performance |
0.80% |
|
|
|
|
|
Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | Net Asset Valuation Technique [Member] | Hedge funds [Member]
|
|
|
|
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Fair Value Inputs, Estimated Performance |
0.00% |
|
|
|
|
|
Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Net Asset Valuation Technique [Member] | Private Equity Funds [Member]
|
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| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Fair Value Inputs, Estimated Performance |
120.00% |
|
|
|
|
|
Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Net Asset Valuation Technique [Member] | Senior secured bank loan funds [Member]
|
|
|
|
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Fair Value Inputs, Estimated Performance |
2.10% |
|
|
|
|
|
Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Net Asset Valuation Technique [Member] | Hedge funds [Member]
|
|
|
|
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
|
|
|
| Fair Value Inputs, Estimated Performance |
0.00% |
|
|
|
|
|
Derivatives Assets (Liabilities) Member
|
|
|
|
|
|
| Total realized gains (losses) |
|
|
|
|
|
| Assets and (liabilities) at fair value |
23,663 |
[1] |
|
19,123 |
[1] |
|
Derivatives Assets (Liabilities) Member | Fair Value, Inputs, Level 3 [Member]
|
|
|
|
|
|
| Total realized gains (losses) |
|
|
|
|
|
| Assets and (liabilities) at fair value |
$ 20,027 |
[1] |
|
$ 4,427 |
[1] |
|
|
|