v2.4.0.6
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Assets    
Fixed maturities, available for sale, at fair value (Amortized cost 2011: $10,821,338; 2010: $10,346,243) $ 10,940,100 $ 10,482,897
Equity securities, available for sale, at fair value (Cost 2011: $699,566; 2010: $327,207) 677,560 349,254
Other investments, at fair value 699,320 519,296
Short-term investments, at amortized cost 149,909 172,719
Total investments 12,466,889 11,524,166
Cash and cash equivalents 981,849 929,515
Restricted cash and cash equivalents 100,989 115,840
Accrued interest receivable 98,346 96,364
Insurance and reinsurance premium balances receivable 1,413,839 1,343,665
Reinsurance recoverable on unpaid and paid losses 1,770,329 1,577,547
Deferred acquisition costs 407,527 359,300
Prepaid reinsurance premiums 238,623 221,396
Receivable for investments sold 3,006 0
Goodwill and intangible assets 99,590 103,231
Other assets 225,072 174,707
Total assets 17,806,059 16,445,731
Liabilities    
Reserve for losses and loss expenses 8,425,045 7,032,375
Unearned premiums 2,454,462 2,333,676
Insurance and reinsurance balances payable 206,539 164,927
Senior notes 994,664 994,110
Payable for investments purchased 151,941 20,251
Other liabilities 129,329 275,422
Total liabilities 12,361,980 10,820,761
Commitments and contingencies      
Shareholders' equity    
Preferred shares - Series A and B 500,000 500,000
Common shares (2011: 170,159; 2010: 154,912 shares issued and 2011: 125,588; 2010: 112,393 shares outstanding) 2,125 1,934
Additional paid-in capital 2,105,386 2,059,708
Accumulated other comprehensive income 128,162 176,821
Retained earnings 4,155,392 4,267,608
Treasury shares, at cost (2011: 44,571; 2010: 42,519 shares) (1,446,986) (1,381,101)
Total shareholders' equity 5,444,079 5,624,970
Total liabilities and shareholders' equity $ 17,806,059 $ 16,445,731