XML 37 R26.htm IDEA: XBRL DOCUMENT v3.10.0.1

DERIVATIVE INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

LOCATION AND AMOUNTS OF DERIVATIVE FAIR VALUES ON THE CONSOLIDATED BALANCE SHEET

The balance sheet classifications of derivatives recorded at fair value are shown in the following table.

		September 30, 2018												December 31, 2017
		Derivative Notional Amount				Derivative Asset Fair Value(1)				Derivative Liability Fair Value(1)				Derivative Notional Amount				Derivative Asset Fair Value(1)				Derivative Liability Fair Value(1)
	Relating to investment portfolio:
	Foreign exchange forward contracts	$	166,113			$	437			$	557			$	137,422			$	10			$	619
	Interest rate swaps	186,000				—				1,105				191,000				448				1,556
	Relating to underwriting portfolio:
	Foreign exchange forward contracts	932,017				2,946				3,246				698,959				4,667				701
	Other underwriting-related contracts	85,000				—				10,212				85,000				—				11,510
	Total derivatives					$	3,383			$	15,120							$	5,125			$	14,386

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

RECONCILIATION OF GROSS DERIVATIVE ASSETS TO NET AMOUNTS PRESENTED IN BALANCE SHEETS

A reconciliation of gross derivative assets and liabilities to the net amounts presented in the Consolidated Balance Sheets, with the difference being attributable to the impact of master netting agreements, is shown in the following table.

		September 30, 2018										December 31, 2017
		Gross Amounts			Gross Amounts Offset			Net Amounts(1)				Gross Amounts			Gross Amounts Offset			Net Amounts(1)
	Derivative assets	$	9,313		$	(5,930	)	$	3,383			$	8,178		$	(3,053	)	$	5,125
	Derivative liabilities	$	21,050		$	(5,930	)	$	15,120			$	17,439		$	(3,053	)	$	14,386

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

RECONCILIATION OF GROSS DERIVATIVE LIABILITIES TO NET AMOUNTS PRESENTED IN BALANCE SHEETS

A reconciliation of gross derivative assets and liabilities to the net amounts presented in the Consolidated Balance Sheets, with the difference being attributable to the impact of master netting agreements, is shown in the following table.

		September 30, 2018										December 31, 2017
		Gross Amounts			Gross Amounts Offset			Net Amounts(1)				Gross Amounts			Gross Amounts Offset			Net Amounts(1)
	Derivative assets	$	9,313		$	(5,930	)	$	3,383			$	8,178		$	(3,053	)	$	5,125
	Derivative liabilities	$	21,050		$	(5,930	)	$	15,120			$	17,439		$	(3,053	)	$	14,386

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

TOTAL UNREALIZED AND REALIZED GAINS (LOSSES) ON DERIVATIVES NOT DESIGNATED AS HEDGES RECORDED IN EARNINGS

The total unrealized and realized gains (losses) recognized in net income for derivatives not designated as hedges are shown in the following table:

		Location of Gain (Loss) Recognized in Net Income	Three months ended September 30,								Nine months ended September 30,
			2018				2017				2018				2017
	Relating to investment portfolio:
	Foreign exchange forward contracts	Net investment gains (losses)	$	766			$	(1,815	)		$	2,090			$	(6,534	)
	Interest rate swaps	Net investment gains (losses)	1,859				520				7,692				(2,661		)
	Relating to underwriting portfolio:
	Foreign exchange forward contracts	Foreign exchange (losses) gains	(3,965		)		12,367				(4,103		)		26,182
	Weather-related contracts	Other insurance related income (losses)	—				—				—				(9,629		)
	Other underwriting-related contracts	Other insurance related income (losses)	677				514				2,225				852
	Total		$	(663	)		$	11,586			$	7,904			$	8,210

X

- References

No definition available.

+ Details

Name:	us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312

+ Details

Name:	us-gaap_OffsettingAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312

+ Details

Name:	us-gaap_OffsettingLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration