v2.4.0.8
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues        
Net premiums earned $ 945,873 $ 850,603 $ 1,819,911 $ 1,696,968
Net investment income 83,112 74,449 192,019 190,472
Other insurance related income 435 299 1,030 931
Net realized investment gains:        
Other-than-temporary impairment (OTTI) losses (5,127) (13,739) (6,025) (17,648)
Non-credit portion of OTTI losses recognized in other comprehensive income 0 0 0 0
Net OTTI losses recognized in income (5,127) (13,739) (6,025) (17,648)
Other realized investment gains 21,362 44,144 66,738 62,544
Total net realized investment gains 16,235 30,405 60,713 44,896
Total revenues 1,045,655 955,756 2,073,673 1,933,267
Expenses        
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
Foreign exchange gains (10,320) (36,162) (45,201) (15,715)
Interest expense and financing costs 15,260 15,170 31,095 30,807
Total expenses 966,592 764,373 1,672,924 1,603,197
Income before income taxes 79,063 191,383 400,749 330,070
Income tax expense (benefit) (4,662) 2,317 5,469 5,165
Net income 83,725 189,066 395,280 324,905
Preferred share dividends 8,197 11,527 16,938 20,746
Loss on repurchase of preferred shares 3,081 9,387 3,081 14,009
Net income available to common shareholders $ 72,447 $ 168,152 $ 375,261 $ 290,150
Net income per common share:        
Basic net income $ 0.63 $ 1.36 $ 3.23 $ 2.32
Diluted net income $ 0.62 $ 1.35 $ 3.19 $ 2.31
Weighted average number of common shares outstanding - basic 115,163 123,823 116,088 124,802
Weighted average number of common shares outstanding - diluted 116,671 124,983 117,660 125,825
Cash dividends declared per common share $ 0.25 $ 0.24 $ 0.50 $ 0.48