SEGMENT INFORMATION (TABLES)




At and year ended December 31, 2013	Insurance			Reinsurance			Total

Gross premiums written	$	2,559,138		$	2,137,903		$	4,697,041
Net premiums written	1,813,538			2,114,662			3,928,200
Net premiums earned	1,722,762			1,984,303			3,707,065
Other insurance related income	2,436			1,988			4,424
Net losses and loss expenses	(1,050,402		)	(1,083,793		)	(2,134,195		)
Acquisition costs	(242,363		)	(421,828		)	(664,191		)
General and administrative expenses	(347,684		)	(137,450		)	(485,134		)
Underwriting income	$	84,749		$	343,220		427,969

Corporate expenses							(90,256		)
Net investment income							409,312
Net realized investment gains							75,564
Foreign exchange losses							(26,143		)
Interest expense and financing costs							(61,979		)
Income before income taxes							$	734,467

Net loss and loss expense ratio	61.0		%	54.6		%	57.6		%
Acquisition cost ratio	14.1		%	21.3		%	17.9		%
General and administrative expense ratio	20.1		%	6.9		%	15.5		%
Combined ratio	95.2		%	82.8		%	91.0		%

Goodwill and intangible assets	$	89,528		$	—		$	89,528




At and year ended December 31, 2012	Insurance			Reinsurance			Total

Gross premiums written	$	2,309,481		$	1,830,162		$	4,139,643
Net premiums written	1,522,245			1,815,211			3,337,456
Net premiums earned	1,558,058			1,857,405			3,415,463
Other insurance related income	2,676			—			2,676
Net losses and loss expenses	(953,564		)	(1,142,464		)	(2,096,028		)
Acquisition costs	(226,859		)	(400,794		)	(627,653		)
General and administrative expenses	(314,834		)	(116,487		)	(431,321		)
Underwriting income	$	65,477		$	197,660		263,137

Corporate expenses							(129,660		)
Net investment income							380,957
Net realized investment gains							127,469
Foreign exchange losses							(29,512		)
Interest expense and financing costs							(61,863		)
Income before income taxes							$	550,528

Net loss and loss expense ratio	61.2		%	61.5		%	61.4		%
Acquisition cost ratio	14.6		%	21.6		%	18.4		%
General and administrative expense ratio	20.2		%	6.3		%	16.4		%
Combined ratio	96.0		%	89.4		%	96.2		%

Goodwill and intangible assets	$	97,493		$	—		$	97,493




At and year ended December 31, 2011	Insurance			Reinsurance			Total

Gross premiums written	$	2,121,829		$	1,974,324		$	4,096,153
Net premiums written	1,466,134			1,953,300			3,419,434
Net premiums earned	1,429,687			1,885,274			3,314,961
Other insurance related income	2,396			—			2,396
Net losses and loss expenses	(919,319		)	(1,755,733		)	(2,675,052		)
Acquisition costs	(199,583		)	(387,886		)	(587,469		)
General and administrative expenses	(278,147		)	(103,915		)	(382,062		)
Underwriting income (loss)	$	35,034		$	(362,260	)	(327,226		)

Corporate expenses							(77,089		)
Net investment income							362,430
Net realized investment gains							121,439
Foreign exchange gains							44,582
Interest expense and financing costs							(62,598		)
Income before income taxes							$	61,538

Net loss and loss expense ratio	64.3		%	93.1		%	80.7		%
Acquisition cost ratio	14.0		%	20.6		%	17.7		%
General and administrative expense ratio	19.4		%	5.5		%	13.9		%
Combined ratio	97.7		%	119.2		%	112.3		%

Goodwill and intangible assets	$	99,590		$	—		$	99,590




Year ended December 31,	2013		2012		2011

Bermuda	$	718,904	$	684,588	$	822,237
Europe	1,699,748		1,561,701		1,493,692
United States	2,278,389		1,893,354		1,780,224
Total gross premium written	$	4,697,041	$	4,139,643	$	4,096,153




Year ended December 31,	2013		2012		2011

Insurance
Property	$	462,364	$	408,943	$	385,291
Marine	179,057		171,165		152,123
Terrorism	39,298		38,605		35,213
Aviation	48,489		60,363		70,681
Credit and political risk	68,192		87,103		97,680
Professional lines	586,200		563,500		536,238
Liability	110,623		86,873		89,555
Accident & health	228,539		141,506		62,906
Total Insurance	1,722,762		1,558,058		1,429,687

Reinsurance
Catastrophe	380,199		375,088		456,858
Property	350,970		351,470		356,022
Professional lines	304,754		297,726		281,025
Credit and surety	279,943		277,185		263,912
Motor	221,844		237,006		202,830
Liability	234,736		220,874		230,872
Agriculture	126,490		17,116		15,031
Engineering	66,243		68,402		65,727
Other	19,124		12,538		12,997
Total Reinsurance	1,984,303		1,857,405		1,885,274

Total	$	3,707,065	$	3,415,463	$	3,314,961

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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