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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (80,486) $ 610,754 $ 806,989
Adjustments to reconcile net income to net cash provided by operating activities:      
Decrease (increase) in premiums receivable (235,560) 132,986 (52,966)
Decrease (increase) in funds held by reinsureds, net 18,236 1,573 (25,271)
Decrease (increase) in reinsurance receivables 97,549 (62,954) 54,674
Decrease (increase) in deferred tax asset (194,029) 22,023 147,071
Decrease (increase) in prepaid reinsurance premiums 46,374 (25,281) (24,161)
Increase (decrease) in reserve for losses and loss adjustment expenses 826,230 420,748 (66,177)
Increase (decrease) in future policy benefit reserve 4,185 (1,534) (1,636)
Increase (decrease) in unearned premiums (39,822) 36,883 64,892
Change in equity adjustments in limited partnerships (56,549) (71,493) 20,575
Change in other assets and liabilities, net 214,701 (104,276) (109,004)
Non-cash compensation expense 17,693 14,786 13,347
Amortization of bond premium (accrual of bond discount) 47,872 46,095 32,172
Amortization of underwriting discount on senior notes 49 76 192
Realized gain on debt repurchase     (78,271)
Net realized capital (gains) losses (6,923) (101,911) 2,312
Net cash provided by (used in) operating activities 659,520 918,475 784,738
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from fixed maturities matured/called - available for sale, at market value 1,702,973 1,717,659 1,203,548
Proceeds from fixed maturities matured/called - available for sale, at fair value 12,775   15,358
Proceeds from fixed maturities sold - available for sale, at market value 1,732,246 1,632,719 311,273
Proceeds from fixed maturities sold - available for sale, at fair value 65,158 20,237 14,777
Proceeds from equity securities sold - available for sale, at market value 27,207 3,037 24,159
Proceeds from equity securities sold - available for sale, at fair value 247,227 234,112 43,496
Distributions from other invested assets 166,273 79,849 182,952
Cost of fixed maturities acquired - available for sale, at market value (3,238,113) (2,766,212) (3,051,012)
Cost of fixed maturities acquired - available for sale, at fair value (27,481) (134,324) (27,555)
Cost of equity securities acquired - available for sale, at market value (127,837) (353,265)  
Cost of equity securities acquired - available for sale, at fair value (755,734) (514,092) (265,275)
Cost of other invested assets acquired (64,832) (66,408) (62,554)
Cost of businesses acquired (63,100)    
Net change in short-term investments 100,969 (110,241) 1,228,032
Net change in unsettled securities transactions 13,563 (13,084) 10,445
Net cash provided by (used in) investing activities (208,706) (270,013) (372,356)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Common shares issued during the period, net 12,269 3,066 7,284
Purchase of treasury shares (92,490) (398,554) (190,597)
Revolving credit borrowings (50,000) 50,000  
Net cost of debt repurchase     (83,026)
Net cost of senior notes maturing   (200,000)  
Dividends paid to shareholders (103,848) (108,477) (116,857)
Net cash provided by (used in) financing activities (234,069) (653,965) (383,196)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (26,502) 16,313 12,718
Net increase (decrease) in cash 190,243 10,810 41,904
Cash, beginning of period 258,408 247,598 205,694
Cash, end of period 448,651 258,408 247,598
SUPPLEMENTAL CASH FLOW INFORMATION:      
Income taxes paid (recovered) (44,537) (30,978) 111,831
Interest paid 51,647 60,198 72,454
Non-cash transaction:      
Net assets acquired and liabilities assumed from business acquisitions $ 19,130