Condensed Consolidated Balance Sheets (USD $) In Thousands	Sep. 30, 2011	Dec. 31, 2010
ASSETS:
Fixed maturity investments available for sale, at fair value (amortized cost: 2011: $264,050;2010: $828,544)	$ 284,966	$ 891,849
Fixed maturity investments trading, at fair value	6,279,615	5,769,097
Equity securities trading, at fair value	424,104	174,976
Other invested assets trading, at fair value	552,074	347,632
Total investments	7,540,759	7,183,554
Cash and cash equivalents	869,320	756,995
Restricted cash	33,253	96,373
Insurance balances receivable	607,270	529,927
Prepaid reinsurance	218,514	187,287
Reinsurance recoverable	1,009,643	927,588
Accrued investment income	39,743	40,520
Net deferred acquisition costs	115,070	96,803
Goodwill	268,376	268,376
Intangible assets	54,576	56,876
Balances receivable on sale of investments	349,327	188,408
Net deferred tax assets	26,872	19,740
Other assets	50,424	75,184
Total assets	11,183,147	10,427,631
LIABILITIES:
Reserve for losses and loss expenses	5,245,553	4,879,188
Unearned premiums	1,158,842	962,203
Reinsurance balances payable	95,463	99,732
Balances due on purchases of investments	754,451	506,978
Senior notes	797,885	797,700
Dividends payable	14,305
Accounts payable and accrued liabilities	113,574	106,010
Total liabilities	8,180,073	7,351,811
SHAREHOLDERS' EQUITY:
Common shares: 2011: par value CHF 14.38 per share and 2010: par value CHF 15.00 per share (2011: 40,003,642; 2010: 40,003,642 shares issued and 2011: 38,145,557; 2010: 38,089,226 shares outstanding)	571,455	600,055
Additional paid-in capital	73,797	170,239
Treasury shares, at cost (2011: 1,858,085; 2010: 1,914,416)	(112,624)	(112,811)
Retained earnings	2,452,650	2,361,202
Accumulated other comprehensive income: net unrealized gains on investments, net of tax	17,796	57,135
Total shareholders' equity	3,003,074	3,075,820
Total liabilities and shareholders' equity	$ 11,183,147	$ 10,427,631