Condensed Consolidated Balance Sheets (USD $) In Thousands	Jun. 30, 2011	Dec. 31, 2010
ASSETS
Fixed maturity investments available for sale, at fair value (amortized cost: 2011: $318,711; 2010: $828,544)	$ 345,551	$ 891,849
Fixed maturity investments trading, at fair value	6,201,034	5,769,097
Equity securities trading, at fair value	393,913	174,976
Other invested assets trading, at fair value	562,267	347,632
Total investments	7,502,765	7,183,554
Cash and cash equivalents	740,804	756,995
Restricted cash	66,853	96,373
Insurance balances receivable	653,002	529,927
Prepaid reinsurance	223,269	187,287
Reinsurance recoverable	1,013,951	927,588
Accrued investment income	39,582	40,520
Net deferred acquisition costs	112,083	96,803
Goodwill	268,376	268,376
Intangible assets	55,342	56,876
Balances receivable on sale of investments	106,486	188,408
Net deferred tax assets	19,826	19,740
Other assets	54,760	75,184
Total assets	10,857,099	10,427,631
LIABILITIES:
Reserve for losses and loss expenses	5,251,304	4,879,188
Unearned premiums	1,184,676	962,203
Reinsurance balances payable	132,661	99,732
Balances due on purchases of investments	358,837	506,978
Senior notes	797,823	797,700
Accounts payable and accrued liabilities	87,381	106,010
Total liabilities	7,812,682	7,351,811
SHAREHOLDERS' EQUITY:
Common shares: par value CHF 15.00 per share (2011: 40,003,642; 2010: 40,003,642 shares issued and 2011: 37,945,043; 2010: 38,089,226 shares outstanding)	600,055	600,055
Additional paid-in capital	82,037	170,239
Treasury shares, at cost (2011: 2,058,599; 2010: 1,914,416)	(124,392)	(112,811)
Retained earnings	2,463,622	2,361,202
Accumulated other comprehensive income: net unrealized gains on investments, net of tax	23,095	57,135
Total shareholders' equity	3,044,417	3,075,820
Total liabilities and shareholders' equity	$ 10,857,099	$ 10,427,631