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SEGMENT INFORMATION (DETAILS) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | |||
|---|---|---|---|---|---|
|
Jun. 30, 2013
|
Jun. 30, 2012
|
Jun. 30, 2013
reportable_segment
|
Jun. 30, 2012
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Dec. 31, 2012
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| Segment Information [Line Items] | |||||
| Number of reportable segments | 2 | ||||
| Net premiums earned | $ 945,873 | $ 850,603 | $ 1,819,911 | $ 1,696,968 | |
| Other insurance related income | 435 | 299 | 1,030 | 931 | |
| Net losses and loss expenses | (642,899) | (467,637) | (1,081,313) | (978,328) | |
| Acquisition costs | (169,719) | (156,397) | (315,209) | (324,793) | |
| General and administrative expenses | (149,034) | (161,331) | (290,508) | (284,984) | |
| Net investment income | 83,112 | 74,449 | 192,019 | 190,472 | |
| Net realized investment gains | 16,235 | 30,405 | 60,713 | 44,896 | |
| Foreign exchange gains | 10,320 | 36,162 | 45,201 | 15,715 | |
| Interest expense and financing costs | (15,260) | (15,170) | (31,095) | (30,807) | |
| Income before income taxes | 79,063 | 191,383 | 400,749 | 330,070 | |
| Net loss and loss expense ratio | 68.00% | 55.00% | 59.40% | 57.70% | |
| Acquisition cost ratio | 17.90% | 18.40% | 17.30% | 19.10% | |
| General and administrative expense ratio | 15.80% | 18.90% | 16.00% | 16.80% | |
| Combined ratio | 101.70% | 92.30% | 92.70% | 93.60% | |
| Goodwill and intangible assets | 91,370 | 98,203 | 91,370 | 98,203 | 97,493 |
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Operating Segments [Member]
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| Segment Information [Line Items] | |||||
| Gross premiums written | 1,219,805 | 1,014,375 | 2,966,287 | 2,539,545 | |
| Net premiums written | 993,407 | 801,575 | 2,563,846 | 2,168,762 | |
| Net premiums earned | 945,873 | 850,603 | 1,819,911 | 1,696,968 | |
| Other insurance related income | 435 | 299 | 1,030 | 931 | |
| Net losses and loss expenses | (642,899) | (467,637) | (1,081,313) | (978,328) | |
| Acquisition costs | (169,719) | (156,397) | (315,209) | (324,793) | |
| General and administrative expenses | (123,769) | (107,129) | (243,698) | (212,347) | |
| Underwriting income (loss) | 9,921 | 119,739 | 180,721 | 182,431 | |
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Operating Segments [Member] | Insurance [Member]
|
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| Segment Information [Line Items] | |||||
| Gross premiums written | 781,055 | 675,009 | 1,377,769 | 1,199,689 | |
| Net premiums written | 559,584 | 465,238 | 992,264 | 843,853 | |
| Net premiums earned | 422,345 | 386,580 | 824,224 | 776,837 | |
| Other insurance related income | 435 | 299 | 1,030 | 931 | |
| Net losses and loss expenses | (330,992) | (225,900) | (548,328) | (467,623) | |
| Acquisition costs | (58,749) | (58,654) | (116,009) | (119,808) | |
| General and administrative expenses | (88,526) | (77,770) | (175,415) | (155,214) | |
| Underwriting income (loss) | (55,487) | 24,555 | (14,498) | 35,123 | |
| Net loss and loss expense ratio | 78.40% | 58.40% | 66.50% | 60.20% | |
| Acquisition cost ratio | 13.90% | 15.20% | 14.10% | 15.40% | |
| General and administrative expense ratio | 20.90% | 20.10% | 21.30% | 20.00% | |
| Combined ratio | 113.20% | 93.70% | 101.90% | 95.60% | |
| Goodwill and intangible assets | 91,370 | 98,203 | 91,370 | 98,203 | |
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Operating Segments [Member] | Reinsurance [Member]
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| Segment Information [Line Items] | |||||
| Gross premiums written | 438,750 | 339,366 | 1,588,518 | 1,339,856 | |
| Net premiums written | 433,823 | 336,337 | 1,571,582 | 1,324,909 | |
| Net premiums earned | 523,528 | 464,023 | 995,687 | 920,131 | |
| Other insurance related income | 0 | 0 | 0 | 0 | |
| Net losses and loss expenses | (311,907) | (241,737) | (532,985) | (510,705) | |
| Acquisition costs | (110,970) | (97,743) | (199,200) | (204,985) | |
| General and administrative expenses | (35,243) | (29,359) | (68,283) | (57,133) | |
| Underwriting income (loss) | 65,408 | 95,184 | 195,219 | 147,308 | |
| Net loss and loss expense ratio | 59.60% | 52.10% | 53.50% | 55.50% | |
| Acquisition cost ratio | 21.20% | 21.10% | 20.00% | 22.30% | |
| General and administrative expense ratio | 6.70% | 6.30% | 6.90% | 6.20% | |
| Combined ratio | 87.50% | 79.50% | 80.40% | 84.00% | |
| Goodwill and intangible assets | 0 | 0 | 0 | 0 | |
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Corporate, Non-Segment [Member]
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| Segment Information [Line Items] | |||||
| General and administrative expenses | (25,265) | (54,202) | (46,810) | (72,637) | |
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Significant Reconciling Items [Member]
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| Segment Information [Line Items] | |||||
| Net investment income | 83,112 | 74,449 | 192,019 | 190,472 | |
| Net realized investment gains | 16,235 | 30,405 | 60,713 | 44,896 | |
| Foreign exchange gains | 10,320 | 36,162 | 45,201 | 15,715 | |
| Interest expense and financing costs | $ (15,260) | $ (15,170) | $ (31,095) | $ (30,807) | |