XML 48 R24.htm IDEA: XBRL DOCUMENT

DERIVATIVE INSTRUMENTS (TABLES)

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

LOCATION AND AMOUNTS OF DERIVATIVE FAIR VALUES ON THE CONSOLIDATED BALANCE SHEET [Table Text Block]



		March 31, 2014												December 31, 2013
		Derivative Notional Amount				Asset Derivative Fair Value⁽¹⁾				Liability Derivative Fair Value⁽¹⁾				Derivative Notional Amount				Asset Derivative Fair Value⁽¹⁾				Liability Derivative Fair Value⁽¹⁾

	Derivatives not designated as hedging instruments
	Relating to investment portfolio:
	Foreign exchange forward contracts	$	329,121			$	78			$	2,060			$	254,023			$	1,214			$	1,032
	Interest rate swaps	281,250				145				71				281,250				873				—
	Relating to underwriting portfolio:
	Foreign exchange forward contracts	482,819				5,681				—				390,663				4,737				120
	Weather-related contracts	5,000				1,707				—				24,451				984				815
	Total derivatives					$	7,611			$	2,131							$	7,808			$	1,967


(1)	Asset and liability derivatives are classified within other assets and other liabilities on the Consolidated Balance Sheets.

RECONCILIATION OF GROSS DERIVATIVE ASSETS AND LIABILITIES TO NET AMOUNTS PRESENTED IN BALANCE SHEETS [Table Text Block]



		March 31, 2014										December 31, 2013
		Gross Amounts			Gross Amounts Offset			Net Amounts⁽¹⁾				Gross Amounts			Gross Amounts Offset			Net Amounts⁽¹⁾

	Derivative assets	$	9,262		$	(1,651	)	$	7,611			$	9,796		$	(1,988	)	$	7,808
	Derivative liabilities	3,782			(1,651		)	2,131				3,955			(1,988		)	1,967


(1)	Net asset and liability derivatives are classified within other assets and other liabilities on the Consolidated Balance Sheets.

NET EARNINGS IMPACT OF FAIR VALUE HEDGES AND TOTAL UNREALIZED AND REALIZED GAINS (LOSSES) ON DERIVATIVES NOT DESIGNATED AS HEDGES RECORDED IN EARNINGS [Table Text Block]



		Location of Gain (Loss) Recognized in Income on Derivative	Three months ended March 31,
		Location of Gain (Loss) Recognized in Income on Derivative	2014				2013

	Derivatives not designated as hedging instruments
	Relating to investment portfolio:
	Foreign exchange forward contracts	Net realized investment gains	$	(1,328	)		$	7,164
	Interest rate swaps	Net realized investment gains	(4,161		)		—
	Relating to underwriting portfolio:
	Foreign exchange forward contracts	Foreign exchange losses (gains)	12,074				2,488
	Weather-related contracts	Other insurance related income	3,678				—
	Total		$	10,263			$	9,652