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Consolidated Statements Of Operations (Debtor-In-Possession) (USD $)
In Thousands, except Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Revenues:    
Net premiums earned $ 405,970 $ 545,975
Net investment income 354,790 358,563
Other-than-temporary impairments:    
Total other-than-temporary impairment losses (90,356) (65,183)
Portion of loss recognized in other comprehensive income 26,513 5,380
Net other-than-temporary impairment losses recognized in earnings (63,843) (59,803)
Net realized investment gains 20,466 159,451
Change in fair value of credit derivatives:    
Realized gains (losses) and other settlements 17,001 (2,757,624)
Unrealized gains (losses) 31,031 2,817,807
Net change in fair value of credit derivatives 48,032 60,183
Derivative products (280,818) (106,565)
Net mark-to-market losses on non-trading derivative contracts   (14,295)
Other income 25,535 107,314
Loss on variable interest entities (214,368) (616,688)
Total revenues before expenses and reorganization items 295,764 434,135
Expenses:    
Losses and loss expenses 1,859,455 719,362
Underwriting and operating expenses 141,305 254,465
Interest expense 128,092 181,329
Total expenses before reorganization items 2,128,852 1,155,156
Pre-tax loss from continuing operations before reorganization items (1,833,088) (721,021)
Reorganization items 49,861 31,980
Pre-tax loss from continuing operations (1,882,949) (753,001)
Provision for income taxes 77,422 135
Net loss (1,960,371) (753,136)
Less: net gain attributable to the noncontrolling interest 60 63
Net loss attributable to common shareholders. $ (1,960,431) $ (753,199)
Net loss per share $ (6.48) $ (2.56)
Weighted-average number of common shares outstanding:    
Basic 302,439,299 294,423,698
Diluted 302,439,299 294,423,698