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SEGMENT INFORMATION (DETAILS) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
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Dec. 31, 2013
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Sep. 30, 2013
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Jun. 30, 2013
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Mar. 31, 2013
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Dec. 31, 2012
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Sep. 30, 2012
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Jun. 30, 2012
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Mar. 31, 2012
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Dec. 31, 2013
reportable_segment
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Dec. 31, 2012
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Dec. 31, 2011
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| Segment Information [Line Items] | |||||||||||
| Number of reportable segments | 2 | ||||||||||
| Gross premiums written | $ 4,697,041 | $ 4,139,643 | $ 4,096,153 | ||||||||
| Net premiums written | 3,928,200 | 3,337,456 | 3,419,434 | ||||||||
| Net premiums earned | 941,911 | 945,242 | 945,873 | 874,039 | 856,049 | 862,447 | 850,603 | 846,362 | 3,707,065 | 3,415,463 | 3,314,961 |
| Other insurance related income | 4,424 | 2,676 | 2,396 | ||||||||
| Net losses and loss expenses | (2,134,195) | (2,096,028) | (2,675,052) | ||||||||
| Acquisition costs | (664,191) | (627,653) | (587,469) | ||||||||
| General and administrative expenses | (575,390) | (560,981) | (459,151) | ||||||||
| Underwriting income (loss) | 94,159 | 153,088 | 9,921 | 170,799 | (74,291) | 154,999 | 119,739 | 62,689 | |||
| Net investment income | 113,863 | 103,429 | 83,112 | 108,908 | 86,847 | 103,638 | 74,449 | 116,023 | 409,312 | 380,957 | 362,430 |
| Net realized investment gains | 19,558 | (4,708) | 16,235 | 44,478 | 31,771 | 50,803 | 30,405 | 14,491 | 75,564 | 127,469 | 121,439 |
| Foreign exchange (losses) gains | (26,143) | (29,512) | 44,582 | ||||||||
| Interest expense and financing costs | (61,979) | (61,863) | (62,598) | ||||||||
| Income before income taxes | 734,467 | 550,528 | 61,538 | ||||||||
| Net loss and loss expense ratio | 57.60% | 61.40% | 80.70% | ||||||||
| Acquisition cost ratio | 17.90% | 18.40% | 17.70% | ||||||||
| General and administrative expense ratio | 15.50% | 16.40% | 13.90% | ||||||||
| Combined ratio | 91.00% | 96.20% | 112.30% | ||||||||
| Goodwill and intangible assets | 89,528 | 97,493 | 89,528 | 97,493 | 99,590 | ||||||
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Insurance [Member]
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| Segment Information [Line Items] | |||||||||||
| Net premiums earned | 1,722,762 | 1,558,058 | 1,429,687 | ||||||||
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Reinsurance [Member]
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| Segment Information [Line Items] | |||||||||||
| Net premiums earned | 1,984,303 | 1,857,405 | 1,885,274 | ||||||||
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Operating Segments [Member]
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| Segment Information [Line Items] | |||||||||||
| Gross premiums written | 4,697,041 | 4,139,643 | 4,096,153 | ||||||||
| Net premiums written | 3,928,200 | 3,337,456 | 3,419,434 | ||||||||
| Net premiums earned | 3,707,065 | 3,415,463 | 3,314,961 | ||||||||
| Other insurance related income | 4,424 | 2,676 | 2,396 | ||||||||
| Net losses and loss expenses | (2,134,195) | (2,096,028) | (2,675,052) | ||||||||
| Acquisition costs | (664,191) | (627,653) | (587,469) | ||||||||
| General and administrative expenses | (485,134) | (431,321) | (382,062) | ||||||||
| Underwriting income (loss) | 427,969 | 263,137 | (327,226) | ||||||||
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Operating Segments [Member] | Insurance [Member]
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|||||||||||
| Segment Information [Line Items] | |||||||||||
| Gross premiums written | 2,559,138 | 2,309,481 | 2,121,829 | ||||||||
| Net premiums written | 1,813,538 | 1,522,245 | 1,466,134 | ||||||||
| Net premiums earned | 1,722,762 | 1,558,058 | 1,429,687 | ||||||||
| Other insurance related income | 2,436 | 2,676 | 2,396 | ||||||||
| Net losses and loss expenses | (1,050,402) | (953,564) | (919,319) | ||||||||
| Acquisition costs | (242,363) | (226,859) | (199,583) | ||||||||
| General and administrative expenses | (347,684) | (314,834) | (278,147) | ||||||||
| Underwriting income (loss) | 84,749 | 65,477 | 35,034 | ||||||||
| Net loss and loss expense ratio | 61.00% | 61.20% | 64.30% | ||||||||
| Acquisition cost ratio | 14.10% | 14.60% | 14.00% | ||||||||
| General and administrative expense ratio | 20.10% | 20.20% | 19.40% | ||||||||
| Combined ratio | 95.20% | 96.00% | 97.70% | ||||||||
| Goodwill and intangible assets | 89,528 | 97,493 | 89,528 | 97,493 | 99,590 | ||||||
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Operating Segments [Member] | Reinsurance [Member]
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| Segment Information [Line Items] | |||||||||||
| Gross premiums written | 2,137,903 | 1,830,162 | 1,974,324 | ||||||||
| Net premiums written | 2,114,662 | 1,815,211 | 1,953,300 | ||||||||
| Net premiums earned | 1,984,303 | 1,857,405 | 1,885,274 | ||||||||
| Other insurance related income | 1,988 | 0 | 0 | ||||||||
| Net losses and loss expenses | (1,083,793) | (1,142,464) | (1,755,733) | ||||||||
| Acquisition costs | (421,828) | (400,794) | (387,886) | ||||||||
| General and administrative expenses | (137,450) | (116,487) | (103,915) | ||||||||
| Underwriting income (loss) | 343,220 | 197,660 | (362,260) | ||||||||
| Net loss and loss expense ratio | 54.60% | 61.50% | 93.10% | ||||||||
| Acquisition cost ratio | 21.30% | 21.60% | 20.60% | ||||||||
| General and administrative expense ratio | 6.90% | 6.30% | 5.50% | ||||||||
| Combined ratio | 82.80% | 89.40% | 119.20% | ||||||||
| Goodwill and intangible assets | 0 | 0 | 0 | 0 | 0 | ||||||
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Corporate [Member]
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| Segment Information [Line Items] | |||||||||||
| General and administrative expenses | (90,256) | (129,660) | (77,089) | ||||||||
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Significant Reconciling Items [Member]
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| Segment Information [Line Items] | |||||||||||
| Net investment income | 409,312 | 380,957 | 362,430 | ||||||||
| Net realized investment gains | 75,564 | 127,469 | 121,439 | ||||||||
| Foreign exchange (losses) gains | (26,143) | (29,512) | 44,582 | ||||||||
| Interest expense and financing costs | $ (61,979) | $ (61,863) | $ (62,598) | ||||||||