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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 364,460 $ 496,838
Adjustments to reconcile net income to net cash provided by operating activities:    
Net realized investment losses 40,295 123,618
Net realized and unrealized gains on other investments (23,117) (17,616)
Amortization of fixed maturities 51,660 75,645
Interest in loss of equity method investments 2,434 0
Other amortization and depreciation 17,370 26,219
Share-based compensation expense, net of cash payments 28,580 25,435
Changes in:    
Accrued interest receivable 3,286 7,128
Reinsurance recoverable balances (163,212) (158,362)
Deferred acquisition costs (73,759) (77,348)
Prepaid reinsurance premiums (184,648) (69,016)
Reserve for loss and loss expenses 216,828 212,066
Unearned premiums 682,686 380,610
Insurance and reinsurance balances, net (623,170) (330,128)
Other items (74,383) 7,841
Net cash provided by operating activities 265,310 702,930
Cash flows from investing activities:    
Fixed maturities (6,624,573) (8,110,841)
Equity securities (295,827) (240,415)
Mortgage loans (131,087) (129,431)
Other investments (177,500) (61,591)
Equity method investments (103,548) 0
Short-term investments (81,479) (34,147)
Proceeds from the sale of:    
Fixed maturities 6,067,663 6,797,585
Equity securities 296,182 112,794
Other investments 170,111 244,353
Short-term investments 67,408 112,694
Proceeds from redemption of fixed maturities 977,852 1,107,175
Proceeds from redemption of short-term investments 8,185 22,337
Proceeds from the repayment of mortgage loans 4,808 0
Purchase of other assets (19,055) (18,401)
Change in restricted cash and cash equivalents (42,445) 27,996
Net cash provided by (used in) investing activities 116,695 (169,892)
Cash flows from financing activities:    
Repurchase of common shares (389,086) (332,097)
Dividends paid - common shares (100,670) (89,611)
Dividends paid - preferred shares (29,940) (30,066)
Repurchase of preferred shares (2,843) 0
Proceeds from issuance of common shares 8 3,042
Net cash used in financing activities (522,531) (448,732)
Effect of exchange rate changes on foreign currency cash and cash equivalents 593 (13,883)
Increase (decrease) in cash and cash equivalents (139,933) 70,423
Cash and cash equivalents - beginning of period 988,133 921,830
Cash and cash equivalents - end of period 848,200 $ 992,253
Consideration transferred reinsurance 170,000  
Transfer of securities $ 92,000