2.0.0.10 false INVESTMENTS 10401 - Disclosure - INVESTMENTS true false false false 1 usd $ false false Unit1 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit12 Standard http://www.xbrl.org/2003/instance shares xbrli 0 Unit13 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 5 INVESTMENTS 3 us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false false false terselabel false 1 false false false false 0 0 <div> <div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 12pt; font-size: 10pt;" align="left"><b>4. INVESTMENTS</b> </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left"><b><i>a) Available for Sale Securities</i></b> </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     The amortized cost, gross unrealized gains, unrealized losses, other-than-temporary-impairments ("OTTI") recorded through other comprehensive income ("OCI") and fair value of the Company's available for sale investments by category as of March 31, 2010 and December 31, 2009 are as follows: </div> <div> <table style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr valign="bottom"> <td width="40%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Gross</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Unrealized</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Unrealized</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>Cost</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>Gains</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>Losses</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>OTTI OCI</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>Fair Value</b></td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;"><b>March 31, 2010</b></div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">U.S. Government and Government agencies</div></td> <td> </td> <td align="left">$</td> <td align="right">397,646</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">20,292</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(708</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">417,230</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Non-U.S. Government and Government agencies</div></td> <td> </td> <td> </td> <td align="right">139,947</td> <td> </td> <td> </td> <td> </td> <td align="right">7,219</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(3,444</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">143,722</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">States, municipalities and political subdivisions</div></td> <td> </td> <td> </td> <td align="right">171,054</td> <td> </td> <td> </td> <td> </td> <td align="right">14,740</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(19</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">185,775</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Corporate debt:</div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Financial institutions</div></td> <td> </td> <td> </td> <td align="right">367,904</td> <td> </td> <td> </td> <td> </td> <td align="right">20,232</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(723</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">387,413</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Industrials</div></td> <td> </td> <td> </td> <td align="right">763,965</td> <td> </td> <td> </td> <td> </td> <td align="right">49,324</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(212</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">813,077</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Utilities</div></td> <td> </td> <td> </td> <td align="right">178,595</td> <td> </td> <td> </td> <td> </td> <td align="right">14,558</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">193,153</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Residential mortgage-backed:</div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Non-agency residential</div></td> <td> </td> <td> </td> <td align="right">161,025</td> <td> </td> <td> </td> <td> </td> <td align="right">5,558</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(7,368</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,761</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">157,454</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Agency residential</div></td> <td> </td> <td> </td> <td align="right">634,002</td> <td> </td> <td> </td> <td> </td> <td align="right">28,894</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(327</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">662,569</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Commercial mortgage-backed</div></td> <td> </td> <td> </td> <td align="right">167,620</td> <td> </td> <td> </td> <td> </td> <td align="right">9,031</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(22</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">176,629</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Asset-backed</div></td> <td> </td> <td> </td> <td align="right">87,251</td> <td> </td> <td> </td> <td> </td> <td align="right">3,714</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(98</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">90,867</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Total fixed maturity investments, available for sale</div></td> <td> </td> <td align="left">$</td> <td align="right">3,069,009</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">173,562</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(12,921</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,761</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">3,227,889</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;"><b>December 31, 2009</b></div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">U.S. Government and Government agencies</div></td> <td> </td> <td align="left">$</td> <td align="right">689,858</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">34,831</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,389</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">723,300</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Non-U.S. Government and Government agencies</div></td> <td> </td> <td> </td> <td align="right">271,528</td> <td> </td> <td> </td> <td> </td> <td align="right">13,752</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,590</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">283,690</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">States, municipalities and political subdivisions</div></td> <td> </td> <td> </td> <td align="right">210,315</td> <td> </td> <td> </td> <td> </td> <td align="right">17,429</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(336</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">227,408</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Corporate debt:</div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Financial institutions</div></td> <td> </td> <td> </td> <td align="right">684,386</td> <td> </td> <td> </td> <td> </td> <td align="right">27,695</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,751</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">710,330</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Industrials</div></td> <td> </td> <td> </td> <td align="right">879,905</td> <td> </td> <td> </td> <td> </td> <td align="right">46,489</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(184</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">926,210</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Utilities</div></td> <td> </td> <td> </td> <td align="right">143,773</td> <td> </td> <td> </td> <td> </td> <td align="right">10,479</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">154,252</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Residential mortgage-backed:</div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Non-agency residential</div></td> <td> </td> <td> </td> <td align="right">172,000</td> <td> </td> <td> </td> <td> </td> <td align="right">4,206</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(11,517</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,856</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">162,833</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Agency residential</div></td> <td> </td> <td> </td> <td align="right">708,652</td> <td> </td> <td> </td> <td> </td> <td align="right">28,882</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,095</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">736,439</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Commercial mortgage-backed</div></td> <td> </td> <td> </td> <td align="right">406,236</td> <td> </td> <td> </td> <td> </td> <td align="right">6,482</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(7,915</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">404,803</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Asset-backed</div></td> <td> </td> <td> </td> <td align="right">94,191</td> <td> </td> <td> </td> <td> </td> <td align="right">3,762</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(146</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">97,807</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Total fixed maturity investments, available for sale</div></td> <td> </td> <td align="left">$</td> <td align="right">4,260,844</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">194,007</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(25,923</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,856</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">4,427,072</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr></table></div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 12pt; font-size: 10pt;" align="left"><b><i>b) Trading Securities</i></b> </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     Securities accounted for at fair value with changes in fair value recognized in the consolidated income statements by category as of March 31, 2010 and December 31, 2009 are as follows: </div> <div> <table style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>March 31, 2010</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>December 31, 2009</b></td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">U.S. Government and Government agencies</div></td> <td> </td> <td align="left">$</td> <td align="right">1,648,683</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">655,266</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Non-U.S. Government and Government agencies</div></td> <td> </td> <td> </td> <td align="right">251,836</td> <td> </td> <td> </td> <td> </td> <td align="right">227,310</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">States, municipalities and political subdivisions</div></td> <td> </td> <td> </td> <td align="right">45,919</td> <td> </td> <td> </td> <td> </td> <td align="right">15,810</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Corporate debt</div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Financial institutions</div></td> <td> </td> <td> </td> <td align="right">708,254</td> <td> </td> <td> </td> <td> </td> <td align="right">590,130</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Industrials</div></td> <td> </td> <td> </td> <td align="right">196,621</td> <td> </td> <td> </td> <td> </td> <td align="right">191,729</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Utilities</div></td> <td> </td> <td> </td> <td align="right">38,654</td> <td> </td> <td> </td> <td> </td> <td align="right">11,934</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Residential mortgage-backed</div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Non-agency residential</div></td> <td> </td> <td> </td> <td align="right">301,299</td> <td> </td> <td> </td> <td> </td> <td align="right">259,055</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Agency residential</div></td> <td> </td> <td> </td> <td align="right">262,588</td> <td> </td> <td> </td> <td> </td> <td align="right">139,858</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Commercial mortgage-backed</div></td> <td> </td> <td> </td> <td align="right">29,494</td> <td> </td> <td> </td> <td> </td> <td align="right">18,266</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Asset-backed</div></td> <td> </td> <td> </td> <td align="right">384,696</td> <td> </td> <td> </td> <td> </td> <td align="right">434,964</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Total fixed maturity investments, trading</div></td> <td> </td> <td> </td> <td align="right">3,868,044</td> <td> </td> <td> </td> <td> </td> <td align="right">2,544,322</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Hedge funds</div></td> <td> </td> <td> </td> <td align="right">242,135</td> <td> </td> <td> </td> <td> </td> <td align="right">184,725</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Equity securities</div></td> <td> </td> <td> </td> <td align="right">19,795</td> <td> </td> <td> </td> <td> </td> <td align="right">144</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Total</div></td> <td> </td> <td align="left">$</td> <td align="right">4,129,974</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">2,729,191</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr></table></div> <div style="margin-top: 12pt; font-size: 10pt;" align="left"><b><i>c) Contractual Maturity Dates</i></b> </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     The contractual maturity dates of fixed maturity investments (available for sale and trading) as of March 31, 2010 are as follows: </div> <div> <table style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>Amortized Cost</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>Fair Value</b></td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Due within one year</div></td> <td> </td> <td align="left">$</td> <td align="right">131,512</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">133,852</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Due after one year through five years</div></td> <td> </td> <td> </td> <td align="right">3,012,382</td> <td> </td> <td> </td> <td> </td> <td align="right">3,099,795</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Due after five years through ten years</div></td> <td> </td> <td> </td> <td align="right">1,600,882</td> <td> </td> <td> </td> <td> </td> <td align="right">1,629,652</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Due after ten years</div></td> <td> </td> <td> </td> <td align="right">157,503</td> <td> </td> <td> </td> <td> </td> <td align="right">167,038</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Mortgage-backed</div></td> <td> </td> <td> </td> <td align="right">1,527,147</td> <td> </td> <td> </td> <td> </td> <td align="right">1,590,033</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Asset-backed</div></td> <td> </td> <td> </td> <td align="right">467,292</td> <td> </td> <td> </td> <td> </td> <td align="right">475,563</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td align="left">$</td> <td align="right">6,896,718</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">7,095,933</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr></table></div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     Expected maturities may differ from contractual maturities because borrowers may have the right to prepay obligations with or without prepayment penalties. </div> <div style="margin-top: 12pt; font-size: 10pt;" align="left"><b><i>d) Other Invested Assets</i></b> </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     As of March 31, 2010, the Company held sixteen hedge fund investments with a total fair value of $242,135, which comprised 3.1% of the total fair value of its investments and cash and cash equivalents and are summarized as follows by type of investment strategy: </div> <div> <table style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr valign="bottom"> <td width="28%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Long</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Short</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td nowrap="nowrap" align="center"><b>Hedge Fund</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Fair Value as of</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Unfunded</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Exposure</b><sup style="font-size: 85%; vertical-align: text-top;"><b>(1)</b></sup></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Exposure</b><sup style="font-size: 85%; vertical-align: text-top;"><b>(2)</b></sup></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Gross</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Net</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center"><b>Type</b></td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>March 31, 2010</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>Commitments</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>(% of funded)</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>(% of funded)</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>Exposure</b><sup style="font-size: 85%; vertical-align: text-top;"><b>(3)</b></sup></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>Exposure</b><sup style="font-size: 85%; vertical-align: text-top;"><b>(4)</b></sup></td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Secondary private equity funds</div></td> <td> </td> <td align="left">$</td> <td align="right">14,035</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">47,071</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">100</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">0</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">100</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">100</td> <td nowrap="nowrap">%</td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Distressed</div></td> <td> </td> <td> </td> <td align="right">68,149</td> <td> </td> <td> </td> <td> </td> <td align="right">42,492</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">70</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">18</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">88</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">52</td> <td nowrap="nowrap">%</td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Equity long/short</div></td> <td> </td> <td> </td> <td align="right">63,695</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">96</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">52</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">148</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">44</td> <td nowrap="nowrap">%</td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Multi-strategy</div></td> <td> </td> <td> </td> <td align="right">76,087</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">109</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">72</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">181</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">37</td> <td nowrap="nowrap">%</td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Event driven</div></td> <td> </td> <td> </td> <td align="right">20,169</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">97</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">83</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">180</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">14</td> <td nowrap="nowrap">%</td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Total</div></td> <td> </td> <td align="left">$</td> <td align="right">242,135</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr></table></div> <div align="left"> <div style="border-top: #000000 1px solid; margin-top: 16pt; font-size: 3pt; width: 18%;"> </div></div> <table style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="3%"> </td> <td width="1%"> </td> <td width="96"> </td></tr> <tr valign="top"> <td nowrap="nowrap" align="left">(1)</td> <td> </td> <td>Long exposure represents the ratio of the fund's equity to investments in securities (over 100% may denote explicit borrowing).</td></tr> <tr style="font-size: 3pt;"> <td> </td></tr> <tr valign="top"> <td nowrap="nowrap" align="left">(2)</td> <td> </td> <td>Short exposure represents the ratio of the fund's equity to securities sold short.</td></tr> <tr style="font-size: 3pt;"> <td> </td></tr> <tr valign="top"> <td nowrap="nowrap" align="left">(3)</td> <td> </td> <td>Gross exposure is the addition of the long and short exposures.</td></tr> <tr style="font-size: 3pt;"> <td> </td></tr> <tr valign="top"> <td nowrap="nowrap" align="left">(4)</td> <td> </td> <td>Net exposure is the subtraction of the short exposure from the long exposure.</td></tr></table> <p style="font-size: 10pt;" align="center"> </p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 6pt;"> <table style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000;" valign="top"> <td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td> <td nowrap="nowrap" align="left" width="3%"><b>•</b></td> <td width="1%"> </td> <td><b>Secondary private equity funds: </b>These funds buy limited partnership interests from existing limited partners of primary private equity funds. As owners of private equity funds seek liquidity, they can sell their existing investments, plus any remaining commitment, to secondary market participants. The Company has invested in two secondary funds to purchase those primary limited partnership interests. The fair values of the investments in this class have been estimated using the net asset value per share of the investments. These funds cannot be redeemed because the investments include restrictions that do not allow for redemption until termination of the fund. The remaining restriction period for these funds ranges from eight to nine years.</td></tr> <tr> <td style="font-size: 6pt;"> </td></tr> <tr style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000;" valign="top"> <td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td> <td nowrap="nowrap" align="left" width="3%"><b>•</b></td> <td width="1%"> </td> <td><b>Distressed funds: </b>In distressed debt investing, managers take positions in the debt of companies experiencing significant financial difficulties, including bankruptcy, or in certain positions of the capital structure of structured securities. The manager relies on the fundamental analysis of these securities, including the claims on the assets and the likely return to bondholders. The fair values of the funds in this class have been estimated using the net asset value per share of the funds. The Company has invested in five distressed funds, four of which are not currently eligible for redemption due to imposed lock-up periods with remaining periods ranging from five months to eight years. Funds representing approximately 29% of the value of the funds in this class will be eligible for redemption in August 2010. Funds representing approximately 23% of the value of the funds in this class are currently eligible for quarterly redemption with a 45-day notification period and redemption fee if redeemed prior to January 2012.</td></tr> <tr> <td style="font-size: 6pt;"> </td></tr> <tr style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000;" valign="top"> <td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td> <td nowrap="nowrap" align="left" width="3%"><b>•</b></td> <td width="1%"> </td> <td><b>Equity long/short funds: </b>In long/short equities, managers take positions in companies they deem to be undervalued and short stocks they believe to be overvalued. Long/short managers may invest in countries, regions or sectors and vary by their use of leverage and target net long position. The fair values of the funds in this class have been estimated using the net asset value per share of the funds. The Company has invested in three equity long/short funds, two of which are not currently eligible for redemption due to imposed lock-up periods with remaining periods ranging from five to nine months at which time the funds will be eligible for quarterly redemption with a 60-day notification period. Funds representing approximately 16% of the value of the funds in this class are currently eligible for quarterly redemption with a 30-day notification period or monthly redemption with a 30-day notification period and redemption fee.</td></tr> <tr> <td style="font-size: 6pt;"> </td></tr> <tr style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000;" valign="top"> <td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td> <td nowrap="nowrap" align="left" width="3%"><b>•</b></td> <td width="1%"> </td> <td><b>Multi-strategy funds: </b>These funds may utilize many strategies employed by specialized funds including distressed investing, equity long/short, merger, convertible and fixed income arbitrage and macro trading. The fair values of the funds in this class have been estimated using the net asset value per share of the funds. The Company has invested in four multi-strategy funds. Funds representing approximately 73% of the value of the funds in this class are currently eligible for quarterly redemption with either a 60 or 65-day notification period. Funds representing approximately 14% of the value of the funds in this class are currently eligible for quarterly redemption with a 45-day notification period and redemption fee if redeemed prior to December 2010. Funds representing approximately 13% of the value of the funds in this class are currently eligible for quarterly redemption with a 90-day notification period and lock up period of ten months.</td></tr> <tr> <td style="font-size: 6pt;"> </td></tr> <tr style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000;" valign="top"> <td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td> <td nowrap="nowrap" align="left" width="3%"><b>•</b></td> <td width="1%"> </td> <td><b>Event driven funds: </b>Event driven strategies seek to deploy capital into specific securities whose returns are affected by a specific event that affects the value of one of more securities of a company. Returns for such securities are linked primarily to the specific outcome of the events and not by the overall direction of the bond or stock markets. Examples could include merger and acquisitions (arbitrage), corporate restructurings and spin-offs and capital structure arbitrage. The fair values of the funds in this class have been estimated using the net asset value per share of the funds. The Company has invested in two event driven funds. Approximately 50% of the value of the funds are not currently eligible for redemption due to an imposed two year lock-up period. The remaining 50% of the value of the funds in this class are currently eligible for quarterly redemption, but are subject to redemption fees and limitations.</td></tr></table></div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     Three of the Company's hedge funds, including a multi-strategy fund, an equity fund and an event driven fund, had long exposure greater than 100% of the funds' net asset value (179.5%, 101% and 117%, respectively as of March 31, 2010). None of the secondary private equity, distressed or equity long/short funds in which the Company invests have used explicit leverage as of March 31, 2010. </div> <div style="margin-top: 12pt; font-size: 10pt;" align="left"><b><i>e) Net Investment Income</i></b> </div> <div> <table style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6"><b>For the Three Months Ended</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="6"><b>March 31,</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2010</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2009</b></td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Fixed maturities and other investments</div></td> <td> </td> <td align="left">$</td> <td align="right">71,098</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">78,878</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Other invested assets</div></td> <td> </td> <td> </td> <td align="right">306</td> <td> </td> <td> </td> <td> </td> <td align="right">607</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Cash and cash equivalents</div></td> <td> </td> <td> </td> <td align="right">52</td> <td> </td> <td> </td> <td> </td> <td align="right">626</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Expenses</div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(2,554</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(2,257</td> <td nowrap="nowrap">)</td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Net investment income</div></td> <td> </td> <td align="left">$</td> <td align="right">68,902</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">77,854</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr></table></div> <div style="margin-top: 12pt; font-size: 10pt;" align="left"><b><i>f) Components of Realized Gains and Losses</i></b> </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     The proceeds from sales of available for sale securities for the three months ended March 31, 2010 and 2009 were $1,306,625 and $3,479,171, respectively. Components of realized gains for the three months ended March 31, 2010 and 2009 are summarized in the following table: </div> <div> <table style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6"><b>For the Three Months Ended</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="6"><b>March 31,</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2010</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2009</b></td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Gross realized gains on sale of securities</div></td> <td> </td> <td align="left">$</td> <td align="right">51,667</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">47,654</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Gross realized losses on sale of securities</div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(6,406</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(10,960</td> <td nowrap="nowrap">)</td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Mark-to-market changes: debt securities trading</div></td> <td> </td> <td> </td> <td align="right">27,731</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Mark-to-market changes: hedge funds and equity securities</div></td> <td> </td> <td> </td> <td align="right">4,495</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(92</td> <td nowrap="nowrap">)</td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Net realized investment gains</div></td> <td> </td> <td align="left">$</td> <td align="right">77,487</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">36,602</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr></table></div> <div style="margin-top: 12pt; font-size: 10pt;" align="left"><b><i>g) Pledged Assets</i></b> </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     As of March 31, 2010 and December 31, 2009, $344,838 and $323,681, respectively, of cash and cash equivalents and investments were on deposit with various state or government insurance departments or pledged in favor of ceding companies in order to comply with relevant insurance regulations. In addition, the Company has set up trust accounts to meet security requirements for inter-company reinsurance transactions. These trusts contained assets of $973,628 and $701,843 as of March 31, 2010 and December 31, 2009, respectively, and are included in fixed maturity investments. </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     The Company also has facilities available for the issuance of letters of credit collateralized against the Company's investment portfolio. The collateralized portion of these facilities is up to $1,300,000 as of March 31, 2010 and December 31, 2009. (See Note 7, "Debt and Financing Arrangements" for details on the facilities). </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     The following table shows the Company's trust accounts on deposit, as well as outstanding and remaining letters of credit facilities, and the collateral committed to support the letters of credit facilities as of March 31, 2010 and December 31, 2009: </div> <div> <table style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>As of</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>As of</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>March 31,</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>December 31,</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2010</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2009</b></td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Total trust accounts on deposit</div></td> <td> </td> <td align="left">$</td> <td align="right">1,318,466</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,025,524</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Total letters of credit facilities:</div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Citibank Europe plc</div></td> <td> </td> <td> </td> <td align="right">900,000</td> <td> </td> <td> </td> <td> </td> <td align="right">900,000</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Credit Facility</div></td> <td> </td> <td> </td> <td align="right">800,000</td> <td> </td> <td> </td> <td> </td> <td align="right">800,000</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Total letters of credit facilities</div></td> <td> </td> <td> </td> <td align="right">1,700,000</td> <td> </td> <td> </td> <td> </td> <td align="right">1,700,000</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr></table></div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div> <table style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>As of</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>As of</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>March 31,</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>December 31,</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2010</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2009</b></td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Total letters of credit facilities outstanding:</div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Citibank Europe plc</div></td> <td> </td> <td> </td> <td align="right">707,789</td> <td> </td> <td> </td> <td> </td> <td align="right">794,609</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Credit Facility</div></td> <td> </td> <td> </td> <td align="right">206,452</td> <td> </td> <td> </td> <td> </td> <td align="right">376,658</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Total letters of credit facilities outstanding</div></td> <td> </td> <td> </td> <td align="right">914,241</td> <td> </td> <td> </td> <td> </td> <td align="right">1,171,267</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Total letters of credit facilities remaining:</div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Citibank Europe plc</div></td> <td> </td> <td> </td> <td align="right">192,211</td> <td> </td> <td> </td> <td> </td> <td align="right">105,391</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Credit Facility</div></td> <td> </td> <td> </td> <td align="right">593,548</td> <td> </td> <td> </td> <td> </td> <td align="right">423,342</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Total letters of credit facilities remaining</div></td> <td> </td> <td> </td> <td align="right">785,759</td> <td> </td> <td> </td> <td> </td> <td align="right">528,733</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Collateral committed to support the letter of credit facilities</div></td> <td> </td> <td align="left">$</td> <td align="right">1,142,148</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,208,359</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr></table></div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     Total trust accounts on deposit includes available for sale securities, trading securities and cash and cash equivalents. The fair values of the combined total cash and cash equivalents and investments held under trust were $2,460,614 and $2,233,883 as of March 31, 2010 and December 31, 2009, respectively. Of the total letters of credit facilities outstanding as of March 31, 2010 and December 31, 2009, $19,026 and $263,297 was used to meet security requirements for inter-company transactions and the remaining letter of credit facilities outstanding of $895,215 and $907,970 was used for third-party ceding companies, respectively. Trust accounts were substituted for inter-company letters of credit during the first quarter of 2010. </div> <div style="margin-top: 12pt; font-size: 10pt;" align="left"><b><i>h) Analysis of Unrealized Losses</i></b> </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     The Company's primary investment objective is the preservation of capital. Although the Company has been successful in meeting this objective, shifts in interest rates and credit spreads affecting valuation can temporarily place some investments in an unrealized loss position. </div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     The following table summarizes the market value of those investments in an unrealized loss position for periods less than and greater than 12 months as of March 31, 2010 and December 31, 2009: </div> <div> <table style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr valign="bottom"> <td width="28%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="10"><b>March 31, 2010</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="10"><b>December 31, 2009</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Gross</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Unrealized</b></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Gross</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Unrealized</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>Fair Value</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>Loss</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>OTTI OCI</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>Fair Value</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>Loss</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>OTTI OCI</b></td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;"><b>Less than 12 months</b></div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">U.S. Government and Government agencies</div></td> <td> </td> <td align="left">$</td> <td align="right">67,058</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(691</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">112,349</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,367</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Non-U.S. Government and Government agencies</div></td> <td> </td> <td> </td> <td align="right">41,384</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(2,791</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">40,450</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,079</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">States, municipalities and political subdivisions</div></td> <td> </td> <td> </td> <td align="right">5,324</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(19</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">7,637</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(336</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Corporate debt</div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Financial institutions</div></td> <td> </td> <td> </td> <td align="right">32,813</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(489</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">45,697</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(560</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Industrials</div></td> <td> </td> <td> </td> <td align="right">16,752</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(212</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">18,409</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(184</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Residential mortgage-backed</div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Non-agency residential</div></td> <td> </td> <td> </td> <td align="right">91,538</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(7,077</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,349</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">82,544</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(8,797</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,527</td> <td nowrap="nowrap">)</td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Agency residential</div></td> <td> </td> <td> </td> <td align="right">11,231</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(327</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">70,525</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,057</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Commercial mortgage-backed</div></td> <td> </td> <td> </td> <td align="right">701</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(22</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">56,396</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(511</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Asset-backed</div></td> <td> </td> <td> </td> <td align="right">5,552</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(70</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">8,516</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(120</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td align="left">$</td> <td align="right">272,353</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(11,698</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,349</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">442,523</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(14,011</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,527</td> <td nowrap="nowrap">)</td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;"><b>More than 12 months</b></div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">U.S. Government and Government agencies</div></td> <td> </td> <td align="left">$</td> <td align="right">273</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(17</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">271</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(22</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Non-U.S. Government and Government agencies</div></td> <td> </td> <td> </td> <td align="right">2,744</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(653</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left"> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">3,700</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(511</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Corporate debt</div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Financial institutions</div></td> <td> </td> <td> </td> <td align="right">21,515</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(234</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">23,462</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,191</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Residential mortgage-backed</div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Non-agency residential</div></td> <td> </td> <td> </td> <td align="right">11,447</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(291</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(412</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">27,265</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(2,720</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(329</td> <td nowrap="nowrap">)</td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 30px; text-indent: -15px;">Agency residential</div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">214</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(38</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Commercial mortgage-backed</div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">149,074</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(7,404</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Asset-backed</div></td> <td> </td> <td> </td> <td align="right">341</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(28</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">419</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(26</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td align="left">$</td> <td align="right">36,320</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,223</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(412</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">204,405</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(11,912</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(329</td> <td nowrap="nowrap">)</td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td align="left">$</td> <td align="right">308,673</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(12,921</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,761</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">646,928</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(25,923</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,856</td> <td nowrap="nowrap">)</td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr></table></div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     As of March 31, 2010 and December 31, 2009, there were approximately 100 and 159 securities, respectively, in an unrealized loss position. The gross unrealized loss of $12,921 as of March 31, 2010 was primarily the result of widening credit spreads related to increases in market risk premium and reduced market liquidity since the acquisition of these securities. The decrease in the gross unrealized loss from December 31, 2009 to March 31, 2010 is primarily due to selling available for sale debt securities and reinvesting proceeds in trading debt securities thereby reducing unrealized gains/losses recognized in accumulated other comprehensive income. </div> <div style="margin-top: 12pt; font-size: 10pt;" align="left"><b><i>i) Other-than-temporary impairment charges</i></b> </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     Following the Company's review of the securities in the investment portfolio during the three months ended March 31, 2010, one mortgage-backed security was considered to be other-than-temporarily impaired due to the present value of the expected cash flows being lower than the amortized cost. The $168 of OTTI was recognized through earnings due to credit related losses. </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     For the mortgage-backed security for which OTTI was recognized due to credit loss during the three months ended March 31, 2010, the significant inputs utilized to determine a credit loss were the estimated frequency and severity of losses of the underlying mortgages that comprise the mortgage-backed security. The frequency of losses was measured as the credit default rate, which includes such factors such as loan-to-value ratios and credit scores of borrowers. The severity of losses includes such factors as trends in overall housing prices and house prices that are obtained at foreclosure. The frequency and severity inputs were used in projecting the future cash flows of the mortgage backed security. For the security in which we recognized an OTTI due to credit loss the credit default rate was 10.3% and the severity rate was 49.0%. </div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     The following table summarizes the amounts related to credit losses on debt securities for which a portion of the OTTI was recognized in other comprehensive income in the consolidated income statements for the three months ended March 31, 2010: </div> <div> <table style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr valign="bottom"> <td width="88%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>For the Three Months</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>Ended March 31, 2010</b></td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Beginning balance of credit losses</div></td> <td> </td> <td align="left">$</td> <td align="right">1,096</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Additions for credit loss for which OTTI was not previously recognized</div></td> <td> </td> <td> </td> <td align="right">168</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Reductions for securities sold during the period (realized)</div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Reductions for OTTI previously recognized due to intent to sell</div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Additions resulting from the increase in credit losses</div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Reductions resulting from the improvement in expected cash flows</div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Ending balance of credit losses</div></td> <td> </td> <td align="left">$</td> <td align="right">1,264</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr></table></div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     During the three months ended March 31, 2009, the Company recognized OTTI through earnings of $41,963 for those securities in an unrealized loss position where the Company's investment managers had the discretion to sell. </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     The following table shows the net impairment charges recognized in earnings for the Company's fixed maturity investments by category for the three months ended March 31, 2010 and 2009: </div> <div> <table style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="font-size: 8pt;" valign="bottom"> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2010</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2009</b></td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Mortgage-backed</div></td> <td> </td> <td align="left">$</td> <td align="right">168</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">11,998</td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Corporate</div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">29,960</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">U.S. government and government agencies</div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">5</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr> <tr valign="bottom"> <td> <div style="margin-left: 15px; text-indent: -15px;">Total net impairment charges recognized in earnings</div></td> <td> </td> <td align="left">$</td> <td align="right">168</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">41,963</td> <td> </td></tr> <tr style="font-size: 1px;"> <td> <div style="margin-left: 15px; text-indent: -15px;"> </div></td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td> <td> </td></tr></table></div> <div style="margin-top: 12pt; font-size: 10pt;" align="left"> </div></div></div> </div> 4. INVESTMENTS a) Available for Sale Securities      The amortized cost, gross unrealized gains, unrealized losses, false false false This item represents the entire disclosure related to Investments in Certain Debt and Equity Securities (and certain other trading assets) which include all debt and equity securities (other than those equity securities accounted for under the equity or cost methods of accounting) with readily determinable fair values. Other trading assets include assets that are carried on the balance sheet at fair value and held for trading purposes. A debt security represents a creditor relationship with an enterprise that is in the form of a security. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities (and other trading assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 3, 19, 20, 21, 22, 137 false false 1 1 false UnKnown UnKnown UnKnown false true