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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income $ 641,631 $ 804,564 $ 727,465
Adjustments to reconcile net income to net cash provided by operating activities:      
Net realized investment (gains) losses 138,491 (132,108) (75,564)
Net realized and unrealized gains on other investments (20,148) (57,621) (128,814)
Amortization of fixed maturities 97,223 113,879 139,667
Other amortization and depreciation 26,341 24,970 23,272
Share-based compensation expense, net of cash payments 43,052 63,237 57,168
Changes in:      
Accrued interest receivable 8,908 13,788 88
Reinsurance recoverable balances (214,992) (16,204) (66,169)
Deferred acquisition costs (4,744) (11,026) (66,874)
Prepaid reinsurance premiums (46,955) (25,185) (14,585)
Reserve for loss and loss expenses 151,011 46,903 523,409
Unearned premiums 29,841 58,376 229,157
Insurance and reinsurance balances, net (74,578) (102,593) (250,463)
Other items 16,119 81,202 (789)
Net cash provided by operating activities 791,200 862,182 1,096,968
Cash flows from investing activities:      
Fixed maturities (11,011,979) (12,047,004) (12,230,274)
Equity securities (356,617) (564,562) (240,926)
Mortgage loans (206,191) 0 0
Other investments (83,561) (75,542) (166,835)
Short-term investments (80,069) (669,494) (198,168)
Proceeds from the sale of:      
Fixed maturities 9,432,226 10,799,112 10,261,256
Equity securities 275,357 740,900 323,423
Other investments 252,418 213,508 93,277
Short-term investments 125,311 526,460 197,690
Proceeds from redemption of fixed maturities 1,407,806 1,086,244 1,407,676
Proceeds from redemption of short-term investments 23,687 80,474 61,715
Purchase of other assets (33,683) (20,857) (24,304)
Change in restricted cash and cash equivalents 101,247 (223,315) 26,183
Impact of the deconsolidation of a variable interest entity (71,649) 0 0
Net cash provided by (used in) investing activities (225,697) (154,076) (489,287)
Cash flows from financing activities:      
Repurchase of common shares (332,252) (543,202) (472,263)
Dividends paid - common shares (118,652) (117,619) (118,426)
Dividends paid - preferred shares (40,088) (40,088) (39,193)
Proceeds from issuance of common shares 3,986 5,550 20,339
Net proceeds from issuance of senior notes 0 494,344 0
Redemption of senior notes 0 (500,000) 0
Net proceeds from issuance of preferred shares 0 0 218,449
Repurchase of preferred shares 0 0 (100,000)
Sales of shares to noncontrolling interests 0 25,000 50,000
Return of capital to noncontrolling interests 0 (10,000) 0
Net cash used in financing activities (487,006) (686,015) (441,094)
Effect of exchange rate changes on foreign currency cash and cash equivalents (12,194) (23,587) (3,078)
Increase (decrease) in cash and cash equivalents 66,303 (1,496) 163,509
Cash and cash equivalents - beginning of year 921,830 923,326 759,817
Cash and cash equivalents - end of year 988,133 921,830 923,326
Supplemental disclosures of cash flow information:      
Income taxes paid 12,661 7,654 22,472
Interest paid $ 48,875 $ 68,850 $ 58,125