Segment Information (Tables)

6 Months Ended

Jun. 30, 2011

Segment Information

Schedule of Segment Reporting Information, by Segment

				International
Three months ended June 30, 2011	U.S. Insurance			Insurance			Reinsurance			Total
Gross premiums written	$	226,738		$	178,593		$	114,267		$	519,598
Net premiums written		172,887			108,985			113,931			395,803
Net premiums earned		145,857			79,956			129,494			355,307
Other income		—			—			—			—
Net losses and loss expenses		(92,595	)		(72,082	)		(71,136	)		(235,813	)
Acquisition costs		(18,876	)		747			(24,842	)		(42,971	)
General and administrative expenses		(31,253	)		(20,653	)		(15,295	)		(67,201	)
Underwriting income (loss)		3,133			(12,032	)		18,221			9,322
Net investment income											52,368
Net realized investment gains											58,878
Net impairment charges recognized in earnings											—
Amortization and impairment of intangible assets											(766	)
Interest expense											(13,745	)
Foreign exchange loss											(1,184	)
Income before income taxes										$	104,873
Loss and loss expense ratio		63.5	%		90.2	%		54.9	%		66.4	%
Acquisition cost ratio		12.9	%		(0.9	%)		19.2	%		12.1	%
General and administrative expense ratio		21.4	%		25.8	%		11.8	%		18.9	%
Combined ratio		97.8	%		115.1	%		85.9	%		97.4	%

				International
Three months ended June 30, 2010	U.S. Insurance			Insurance			Reinsurance			Total
Gross premiums written	$	189,663		$	167,601		$	136,583		$	493,847
Net premiums written		135,238			98,509			136,048			369,795
Net premiums earned		125,659			89,427			123,838			338,924
Other income		616			—			—			616
Net losses and loss expenses		(69,198	)		(64,580	)		(54,944	)		(188,722	)
Acquisition costs		(15,854	)		66			(22,150	)		(37,938	)
General and administrative expenses		(30,683	)		(22,657	)		(14,749	)		(68,089	)
Underwriting income		10,540			2,256			31,995			44,791
Net investment income											65,594
Net realized investment gains											94,933
Net impairment charges recognized in earnings											—
Amortization and impairment of intangible assets											(891	)
Interest expense											(9,531	)
Foreign exchange loss											(559	)
Income before income taxes										$	194,337
Loss and loss expense ratio		55.1	%		72.2	%		44.4	%		55.7	%
Acquisition cost ratio		12.6	%		(0.1	%)		17.9	%		11.2	%
General and administrative expense ratio		24.4	%		25.3	%		11.9	%		20.1	%
Combined ratio		92.1	%		97.4	%		74.2	%		87.0	%

				International
Six months ended June 30, 2011	U.S. Insurance			Insurance			Reinsurance			Total
Gross premiums written	$	410,040		$	289,918		$	380,328		$	1,080,286
Net premiums written		312,789			183,895			379,990			876,674
Net premiums earned		281,338			156,246			252,599			690,183
Other income		—			—			—			—
Net losses and loss expenses		(208,426	)		(143,266	)		(188,573	)		(540,265	)
Acquisition costs		(36,978	)		2,603			(46,678	)		(81,053	)
General and administrative expenses		(62,052	)		(41,381	)		(31,724	)		(135,157	)
Underwriting loss		(26,118	)		(25,798	)		(14,376	)		(66,292	)
Net investment income											102,576
Net realized investment gains											109,254
Net impairment charges recognized in earnings											—
Amortization and impairment of intangible assets											(1,533	)
Interest expense											(27,487	)
Foreign exchange loss											(742	)
Income before income taxes										$	115,776
Loss and loss expense ratio		74.1	%		91.7	%		74.7	%		78.3	%
Acquisition cost ratio		13.1	%		(1.7	%)		18.5	%		11.7	%
General and administrative expense ratio		22.1	%		26.5	%		12.6	%		19.6	%
Combined ratio		109.3	%		116.5	%		105.8	%		109.6	%

				International
Six months ended June 30, 2010	U.S. Insurance			Insurance			Reinsurance			Total
Gross premiums written	$	351,748		$	289,023		$	357,239		$	998,010
Net premiums written		266,793			179,590			356,704			803,087
Net premiums earned		254,864			176,470			245,914			677,248
Other income		913			—			—			913
Net losses and loss expenses		(167,623	)		(122,029	)		(131,224	)		(420,876	)
Acquisition costs		(32,814	)		—			(45,908	)		(78,722	)
General and administrative expenses		(57,797	)		(44,502	)		(29,253	)		(131,552	)
Underwriting (loss) income		(2,457	)		9,939			39,529			47,011
Net investment income											134,496
Net realized investment gains											172,420
Net impairment charges recognized in earnings											(168	)
Amortization and impairment of intangible assets											(1,783	)
Interest expense											(19,059	)
Foreign exchange loss											(1,635	)
Income before income taxes										$	331,282
Loss and loss expense ratio		65.8	%		69.1	%		53.4	%		62.1	%
Acquisition cost ratio		12.9	%		0.0	%		18.7	%		11.6	%
General and administrative expense ratio		22.7	%		25.2	%		11.9	%		19.4	%
Combined ratio		101.4	%		94.3	%		84.0	%		93.1	%

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2011		2010		2011		2010
United States	$	215,343	$	192,980	$	478,574	$	438,260
Bermuda		125,452		131,119		271,783		258,901
Europe		40,663		38,550		92,539		90,710
Singapore		10,331		5,912		25,567		9,603
Hong Kong		4,014		1,234		8,211		5,613
Total net premiums written	$	395,803	$	369,795	$	876,674	$	803,087