XML 38 R31.htm IDEA: XBRL DOCUMENT v2.4.0.8

Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2014

Summary of Derivative Instruments [Abstract]

Schedule of Location on Consolidated Balance Sheets and Fair Value Of Principal Derivative Instruments

The tables below show the gross and net amounts of recognized derivative assets and liabilities, including the location on the consolidated balance sheets and fair value of the Company’s principal derivative instruments:

		Derivative Assets
	At March 31, 2014	Gross Amounts of Recognized Assets				Gross Amounts Offset in the Balance Sheet				Net Amounts of Assets Presented in the Balance Sheet				Balance Sheet Location		Collateral				Net Amount
	Interest rate futures	$	855			100				$	755			Other assets		$	—			$	755
	Foreign currency forward contracts (1)	10,184				5,178				5,006				Other assets		—				5,006
	Foreign currency forward contracts (2)	360				283				77				Other assets		—				77
	Credit default swaps	835				45				790				Other assets		495				295
	Total	$	12,234			$	5,606			$	6,628					$	495			$	6,133
		Derivative Liabilities
	At March 31, 2014	Gross Amounts of Recognized Liabilities				Gross Amounts Offset in the Balance Sheet				Net Amounts of Liabilities Presented in the Balance Sheet				Balance Sheet Location		Collateral Pledged				Net Amount
	Interest rate futures	$	179			100				$	79			Other liabilities		$	79			$	—
	Foreign currency forward contracts (1)	8				—				8				Other liabilities		—				8
	Foreign currency forward contracts (2)	708				283				425				Other liabilities		—				425
	Credit default swaps	64				45				19				Other liabilities		—				19
	Weather contract	1,307				—				1,307				Other liabilities		—				1,307
	Total	$	2,266			$	428			$	1,838					$	79			$	1,759

(1) Contracts used to manage foreign currency risks in underwriting and non-investment operations.

(2) Contracts used to manage foreign currency risks in investment operations.

		Derivative Assets
	At December 31, 2013	Gross Amounts of Recognized Assets				Gross Amounts Offset in the Balance Sheet				Net Amounts of Assets Presented in the Balance Sheet				Balance Sheet Location		Collateral				Net Amount
	Interest rate futures	$	897			62				$	835			Other assets		$	—			$	835
	Foreign currency forward contracts (1)	9,612				1,179				8,433				Other assets		—				8,433
	Foreign currency forward contracts (2)	1,013				338				675				Other assets		—				675
	Credit default swaps	806				82				724				Other assets		310				414
	Total	$	12,328			$	1,661			$	10,667					$	310			$	10,357
		Derivative Liabilities
	At December 31, 2013	Gross Amounts of Recognized Liabilities				Gross Amounts Offset in the Balance Sheet				Net Amounts of Liabilities Presented in the Balance Sheet				Balance Sheet Location		Collateral Pledged				Net Amount
	Interest rate futures	$	74			62				$	12			Other liabilities		$	12			$	—
	Foreign currency forward contracts (1)	2,204				28				2,176				Other liabilities		—				2,176
	Foreign currency forward contracts (2)	1,557				338				1,219				Other liabilities		—				1,219
	Credit default swaps	94				82				12				Other liabilities		—				12
	Weather contract	2,490				—				2,490				Other liabilities		—				2,490
	Total	$	6,419			$	510			$	5,909					$	12			$	5,897

(1) Contracts used to manage foreign currency risks in underwriting and non-investment operations.

(2) Contracts used to manage foreign currency risks in investment operations.

Schedule of Gain (Loss) Recognized In Consolidated Statements Of Operations Related To Principal Derivative Instruments

The location and amount of the gain (loss) recognized in the Company’s consolidated statements of operations related to its principal derivative instruments are shown in the following table:

		Location of gain (loss) recognized on derivatives		Amount of gain (loss) recognized on derivatives
	Three months ended March 31,			2014				2013
	Interest rate futures	Net realized and unrealized gains on investments		$	(12,274	)		$	2
	Foreign currency forward contracts (1)	Net foreign exchange (losses) gains		4,099				2,388
	Foreign currency forward contracts (2)	Net foreign exchange (losses) gains		(1,399		)		1,678
	Credit default swaps	Net realized and unrealized gains on investments		159				434
	Weather contract	Net realized and unrealized gains on investments		1,216				—
	Total			$	(8,199	)		$	4,502

(1) Contracts used to manage foreign currency risks in underwriting and non-investment operations.

(2) Contracts used to manage foreign currency risks in investment operations.

X

- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4A

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4C

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4B

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_SummaryOfDerivativeInstrumentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration