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Reserve for Claims and Claim Expenses (Tables) | 12 Months Ended
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Dec. 31, 2014
Insurance Loss Reserves [Abstract] |
Schedule of Liability for Unpaid Claims and Claim Expenses | Activity in the liability for unpaid claims and claim expenses is summarized as follows:
| Year ended December 31, | 2014 |  | 2013 |  | 2012 |
| Net reserves as of January 1 | $ | 1,462,705 |  |  | $ | 1,686,865 |  |  | $ | 1,588,325 |  |
| Net incurred related to: |  |  |  |  |  |
| Current year | 341,745 |  |  | 315,241 |  |  | 483,180 |  |
| Prior years | (143,798 | ) |  | (143,954 | ) |  | (157,969 | ) |
| Total net incurred | 197,947 |  |  | 171,287 |  |  | 325,211 |  |
| Net paid related to: |  |  |  |  |  |
| Current year | 39,830 |  |  | 32,212 |  |  | 84,056 |  |
| Prior years | 275,006 |  |  | 363,235 |  |  | 142,615 |  |
| Total net paid | 314,836 |  |  | 395,447 |  |  | 226,671 |  |
| Net reserves as of December 31 | 1,345,816 |  |  | 1,462,705 |  |  | 1,686,865 |  |
| Reinsurance recoverable as of December 31 | 66,694 |  |  | 101,025 |  |  | 192,512 |  |
| Gross reserves as of December 31 | $ | 1,412,510 |  |  | $ | 1,563,730 |  |  | $ | 1,879,377 |  |
Schedule of Prior Year Development of Liability for Unpaid Claims and Claim Expenses by Segment | The following table details the Company’s prior year development by segment of its liability for unpaid claims and claim expenses:
| Year ended December 31, | 2014 |  | 2013 |  | 2012 |
| Catastrophe Reinsurance | $ | (65,511 | ) |  | $ | (102,037 | ) |  | $ | (110,568 | ) |
| Specialty Reinsurance | (55,909 | ) |  | (34,111 | ) |  | (34,146 | ) |
| Lloyd’s | (16,241 | ) |  | (8,256 | ) |  | (16,202 | ) |
| Other | (6,137 | ) |  | 450 |  |  | 2,947 |  |
| Total favorable development of prior accident years net claims and claim expenses | $ | (143,798 | ) |  | $ | (143,954 | ) |  | $ | (157,969 | ) |
Schedule of Details of Development of Liability for Unpaid Claims and Claim Expenses by Segment | The following table details the development of the Company’s liability for unpaid claims and claim expenses for each of its Catastrophe Reinsurance, Specialty Reinsurance and Lloyd’s segments and Other category, for the year ended December 31, 2013 split between catastrophe net claims and claim expenses and attritional net claims and claim expenses:
| Year ended December 31, 2013 | Catastrophe Reinsurance Segment |  | Specialty Reinsurance Segment |  | Lloyd's Segment |  | Other |  | Total |
| Catastrophe net claims and claim expenses |  |  |  |  |  |  |  |  |  |
| Large catastrophe events |  |  |  |  |  |  |  |  |  |
| Storm Sandy (2012) | $ | (44,460 | ) |  | $ | — |  |  | $ | (3,825 | ) |  | $ | — |  |  | $ | (48,285 | ) |
| Tohoku Earthquake and Tsunami (2011) | (18,033 | ) |  | (1,000 | ) |  | — |  |  | — |  |  | (19,033 | ) |
| Hurricanes Gustav and Ike (2008) | (16,261 | ) |  | — |  |  | — |  |  | (404 | ) |  | (16,665 | ) |
| New Zealand Earthquake (2011) | (10,944 | ) |  | — |  |  | — |  |  | — |  |  | (10,944 | ) |
| Windstorm Kyrill (2007) | (8,244 | ) |  | — |  |  | — |  |  | — |  |  | (8,244 | ) |
| Hurricane Isaac (2012) | 2,610 |  |  | — |  |  | — |  |  | — |  |  | 2,610 |  |
| New Zealand Earthquake (2010) | 11,040 |  |  | 300 |  |  | — |  |  | — |  |  | 11,340 |  |
| Other | (776 | ) |  | (1,763 | ) |  | (1,442 | ) |  | (1,325 | ) |  | (5,306 | ) |
| Total large catastrophe events | (85,068 | ) |  | (2,463 | ) |  | (5,267 | ) |  | (1,729 | ) |  | (94,527 | ) |
| Small catastrophe events |  |  |  |  |  |  |  |  |  |
| U.S. PCS 83 Wind and Thunderstorm (2012) | (3,500 | ) |  | — |  |  | — |  |  | — |  |  | (3,500 | ) |
| U.S. PCS 76 Wind and Thunderstorm (2012) | (300 | ) |  | — |  |  | — |  |  | — |  |  | (300 | ) |
| U.S. PCS 70 Wind and Thunderstorm (2012) | 8,225 |  |  | — |  |  | — |  |  | — |  |  | 8,225 |  |
| Other | (21,394 | ) |  | — |  |  | — |  |  | — |  |  | (21,394 | ) |
| Total small catastrophe events | (16,969 | ) |  | — |  |  | — |  |  | — |  |  | (16,969 | ) |
| Total catastrophe net claims and claim expenses | $ | (102,037 | ) |  | $ | (2,463 | ) |  | $ | (5,267 | ) |  | $ | (1,729 | ) |  | $ | (111,496 | ) |
| Attritional net claims and claim expenses |  |  |  |  |  |  |  |  |  |
| Bornhuetter-Ferguson actuarial method - actual reported claims less than expected claims | $ | — |  |  | $ | (21,216 | ) |  | $ | (3,263 | ) |  | $ | 2,179 |  |  | $ | (22,300 | ) |
| Actuarial assumption changes | — |  |  | (10,432 | ) |  | 274 |  |  | — |  |  | (10,158 | ) |
| Total attritional net claims and claim expenses | $ | — |  |  | $ | (31,648 | ) |  | $ | (2,989 | ) |  | $ | 2,179 |  |  | $ | (32,458 | ) |
| Total favorable development of prior accident years net claims and claim expenses | $ | (102,037 | ) |  | $ | (34,111 | ) |  | $ | (8,256 | ) |  | $ | 450 |  |  | $ | (143,954 | ) |
Specialty Reinsurance and Lloyd’s segments and Other category, for the year ended December 31, 2014 split between catastrophe net claims and claim expenses and attritional net claims and claim expenses:
| Year ended December 31, 2014 | Catastrophe Reinsurance Segment |  | Specialty Reinsurance Segment |  | Lloyd's Segment |  | Other |  | Total |
| Catastrophe net claims and claim expenses |  |  |  |  |  |  |  |  |  |
| Large catastrophe events |  |  |  |  |  |  |  |  |  |
| Storm Sandy (2012) | $ | (20,104 | ) |  | $ | — |  |  | $ | (4,128 | ) |  | $ | — |  |  | $ | (24,232 | ) |
| April and May U.S. Tornadoes (2011) | (13,939 | ) |  | — |  |  | — |  |  | — |  |  | (13,939 | ) |
| Thailand Floods (2011) | (9,254 | ) |  | (2,500 | ) |  | — |  |  | — |  |  | (11,754 | ) |
| LIBOR (2011 and 2012) | — |  |  | (10,500 | ) |  | (1,250 | ) |  | — |  |  | (11,750 | ) |
| Hurricanes Gustav and Ike (2008) | (6,647 | ) |  | — |  |  | — |  |  | — |  |  | (6,647 | ) |
| Tohoku Earthquake and Tsunami (2011) | (3,489 | ) |  | (1,642 | ) |  | — |  |  | — |  |  | (5,131 | ) |
| Hurricane Irene (2011) | (4,506 | ) |  | — |  |  | — |  |  | — |  |  | (4,506 | ) |
| Windstorm Kyrill (2007) | (3,615 | ) |  | — |  |  | — |  |  | — |  |  | (3,615 | ) |
| Subprime (2007) | — |  |  | 5,049 |  |  | — |  |  | — |  |  | 5,049 |  |
| New Zealand Earthquake (2010) | 24,692 |  |  | — |  |  | — |  |  | — |  |  | 24,692 |  |
| Other | (10,644 | ) |  | (1,826 | ) |  | (1,234 | ) |  | — |  |  | (13,704 | ) |
| Total large catastrophe events | (47,506 | ) |  | (11,419 | ) |  | (6,612 | ) |  | — |  |  | (65,537 | ) |
| Small catastrophe events |  |  |  |  |  |  |  |  |  |
| European Floods (2013) | (7,552 | ) |  | — |  |  | — |  |  | — |  |  | (7,552 | ) |
| U.S. PCS 24 Wind and Thunderstorm (2013) | (6,712 | ) |  | — |  |  | — |  |  | — |  |  | (6,712 | ) |
| U.S. PCS 70 and 73 Wind and Thunderstorm (2012) | 13,362 |  |  | — |  |  | — |  |  | — |  |  | 13,362 |  |
| Other | (17,103 | ) |  | — |  |  | (2,687 | ) |  | (6,137 | ) |  | (25,927 | ) |
| Total small catastrophe events | (18,005 | ) |  | — |  |  | (2,687 | ) |  | (6,137 | ) |  | (26,829 | ) |
| Total catastrophe net claims and claim expenses | $ | (65,511 | ) |  | $ | (11,419 | ) |  | $ | (9,299 | ) |  | $ | (6,137 | ) |  | $ | (92,366 | ) |
| Attritional net claims and claim expenses |  |  |  |  |  |  |  |  |  |
| Bornhuetter-Ferguson actuarial method - actual reported claims less than expected claims | $ | — |  |  | $ | (44,490 | ) |  | $ | (6,942 | ) |  | $ | — |  |  | $ | (51,432 | ) |
| Total attritional net claims and claim expenses | $ | — |  |  | $ | (44,490 | ) |  | $ | (6,942 | ) |  | $ | — |  |  | $ | (51,432 | ) |
| Total favorable development of prior accident years net claims and claim expenses | $ | (65,511 | ) |  | $ | (55,909 | ) |  | $ | (16,241 | ) |  | $ | (6,137 | ) |  | $ | (143,798 | ) |
The following table details the development of the Company’s liability for unpaid claims and claim expenses for each of its Catastrophe Reinsurance, Specialty Reinsurance and Lloyd’s segments and Other category, for the year ended December 31, 2012 split between catastrophe net claims and claim expenses and attritional net claims and claim expenses:
| Year ended December 31, 2012 | Catastrophe Reinsurance Segment |  | Specialty Reinsurance Segment |  | Lloyd’s Segment |  | Other |  | Total |
| Catastrophe net claims and claim expenses |  |  |  |  |  |  |  |  |  |
| Large catastrophe events |  |  |  |  |  |  |  |  |  |
| Chile Earthquake (2010) | $ | (24,575 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (24,575 | ) |
| Hurricanes Gustav and Ike (2008) | (17,541 | ) |  | — |  |  | — |  |  | (2,926 | ) |  | (20,467 | ) |
| U.K. Floods (2007) | (17,271 | ) |  | — |  |  | — |  |  | — |  |  | (17,271 | ) |
| Hurricanes Katrina, Rita and Wilma (2005) | (6,420 | ) |  | (3,000 | ) |  | — |  |  | 1,690 |  |  | (7,730 | ) |
| Hurricane Irene (2011) | (4,630 | ) |  | — |  |  | (2,500 | ) |  | — |  |  | (7,130 | ) |
| Thailand Floods (2011) | (3,933 | ) |  | — |  |  | (5,500 | ) |  | — |  |  | (9,433 | ) |
| Tohoku Earthquake and Tsunami (2011) | (3,896 | ) |  | — |  |  | — |  |  | — |  |  | (3,896 | ) |
| Windstorm Kyrill (2007) | (3,417 | ) |  | — |  |  | — |  |  | — |  |  | (3,417 | ) |
| New Zealand Earthquake (2010) | 3,570 |  |  | — |  |  | — |  |  | — |  |  | 3,570 |  |
| New Zealand Earthquake (2011) | 17,912 |  |  | — |  |  | — |  |  | — |  |  | 17,912 |  |
| Other | (2,542 | ) |  | — |  |  | (1,476 | ) |  | 65 |  |  | (3,953 | ) |
| Total large catastrophe events | (62,743 | ) |  | (3,000 | ) |  | (9,476 | ) |  | (1,171 | ) |  | (76,390 | ) |
| Small catastrophe events |  |  |  |  |  |  |  |  |  |
| Danish Floods (2011) | (5,000 | ) |  | — |  |  | — |  |  | — |  |  | (5,000 | ) |
| U.S. PCS 63 Winter Storm (2011) | (5,000 | ) |  | — |  |  | — |  |  | — |  |  | (5,000 | ) |
| U.S. PCS 42 Winter Storm (2011) | (2,560 | ) |  | — |  |  | — |  |  | — |  |  | (2,560 | ) |
| U.S. PCS 53 Winter Storm (2011) | (2,558 | ) |  | — |  |  | — |  |  | — |  |  | (2,558 | ) |
| Other | (32,707 | ) |  | — |  |  | — |  |  | — |  |  | (32,707 | ) |
| Total small catastrophe events | (47,825 | ) |  | — |  |  | — |  |  | — |  |  | (47,825 | ) |
| Total catastrophe net claims and claim expenses | $ | (110,568 | ) |  | $ | (3,000 | ) |  | $ | (9,476 | ) |  | $ | (1,171 | ) |  | $ | (124,215 | ) |
| Attritional net claims and claim expenses |  |  |  |  |  |  |  |  |  |
| Bornhuetter-Ferguson actuarial method - actual reported claims less than expected claims | $ | — |  |  | $ | (16,747 | ) |  | $ | (8,011 | ) |  | $ | 4,118 |  |  | $ | (20,640 | ) |
| Actuarial assumption changes | — |  |  | (14,399 | ) |  | 1,285 |  |  | — |  |  | (13,114 | ) |
| Total attritional net claims and claim expenses | $ | — |  |  | $ | (31,146 | ) |  | $ | (6,726 | ) |  | $ | 4,118 |  |  | $ | (33,754 | ) |
| Total favorable development of prior accident years net claims and claim expenses | $ | (110,568 | ) |  | $ | (34,146 | ) |  | $ | (16,202 | ) |  | $ | 2,947 |  |  | $ | (157,969 | ) |

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- Definition Schedule showing, by segment, the change in the provision for the period related to claims incurred in prior reporting periods and related claims settlement costs. [Table Text Block] + References No definition available. + Details
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- Definition Tabular disclosure of the reasons for the change in incurred claims and claim adjustment expenses recognized in the income statement attributable to insured events of prior fiscal years. Also includes disclosures of additional premiums or return premiums accrued as a result of changes in incurred claims and claim adjustment expenses. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6482485&loc=d3e14764-158437 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section W + Details
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- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6482485&loc=d3e14764-158437 + Details
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