Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (USD $) In Thousands, except Share data	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
REVENUES:
Gross premiums written	$ 519,598	$ 493,847	$ 1,080,286	$ 998,010
Premiums ceded	(123,795)	(124,052)	(203,612)	(194,923)
Net premiums written	395,803	369,795	876,674	803,087
Change in unearned premiums	(40,496)	(30,871)	(186,491)	(125,839)
Net premiums earned	355,307	338,924	690,183	677,248
Net investment income	52,368	65,594	102,576	134,496
Net realized investment gains	58,878	94,933	109,254	172,420
Net impairment charges recognized in earnings:
Total other-than-temporary impairment charges				(168)
Portion of loss recognized in other comprehensive income, before taxes
Net impairment charges recognized in earnings				(168)
Other income		616		913
Total revenues	466,553	500,067	902,013	984,909
EXPENSES:
Net losses and loss expenses	235,813	188,722	540,265	420,876
Acquisition costs	42,971	37,938	81,053	78,722
General and administrative expenses	67,201	68,089	135,157	131,552
Amortization and impairment of intangible assets	766	891	1,533	1,783
Interest expense	13,745	9,531	27,487	19,059
Foreign exchange (gain) loss	1,184	559	742	1,635
Total expenses	361,680	305,730	786,237	653,627
Income before income taxes	104,873	194,337	115,776	331,282
Income tax expense	11,073	10,378	13,356	13,583
NET INCOME	93,800	183,959	102,420	317,699
Other comprehensive loss:
Unrealized gains on investments arising during the period net of applicable deferred income tax (expense) for the three months ended June 30, 2011: $1,461; 2010: $(471) and six months ended June 30, 2011: $2,425; 2010: $(690)	13,680	63,852	5,636	101,322
Reclassification adjustment for net realized investment gains included in net income, net of applicable income tax	(23,548)	(67,891)	(39,676)	(112,926)
Other comprehensive loss	(9,868)	(4,039)	(34,040)	(11,604)
COMPREHENSIVE INCOME	$ 83,932	$ 179,920	$ 68,380	$ 306,095
PER SHARE DATA
Basic earnings per share	$ 2.45	$ 3.66	$ 2.69	$ 6.34
Diluted earnings per share	$ 2.36	$ 3.47	$ 2.57	$ 5.98
Weighted average common shares outstanding	38,346,489	50,222,974	38,061,724	50,123,945
Weighted average common shares and common share equivalents outstanding	39,800,753	52,974,410	39,873,418	53,086,708
Dividends paid per share		$ 0.20		$ 0.40