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Investments (Tables)
12 Months Ended
Dec. 31, 2011
Investments [Abstract]  
Schedule Of Available For Sale Securities
                                 
     Amortized
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
Losses
    Fair Value  

December 31, 2011

                                  

U.S. Government and Government agencies

   $ 31,309       $ 2,321       $ —      $ 33,630   

States, municipalities and political subdivisions

     29,128         4,351         —        33,479   

Corporate debt:

                                  

Financial institutions

     17,431         348         (292 )      17,487   

Industrials

     73,539         4,268         —        77,807   

Utilities

     74,990         6,623         —        81,613   
    

 

 

    

 

 

    

 

 

   

 

 

 

Total fixed maturity investments, available for sale

   $ 226,397       $ 17,911       $ (292 )    $ 244,016   
    

 

 

    

 

 

    

 

 

   

 

 

 

December 31, 2010

                                  

U.S. Government and Government agencies

   $ 85,030       $ 6,923       $ —      $ 91,953   

Non-U.S. Government and Government agencies

     138,386         9,539         (2,541 )      145,384   

States, municipalities and political subdivisions

     107,289         10,901         (13 )      118,177   

Corporate debt:

                                  

Financial institutions

     66,660         6,776         (38 )      73,398   

Industrials

     310,664         20,548         (2 )      331,210   

Utilities

     120,515         11,212         —        131,727   
    

 

 

    

 

 

    

 

 

   

 

 

 

Total fixed maturity investments, available for sale

   $ 828,544       $ 65,899       $ (2,594 )    $ 891,849   
    

 

 

    

 

 

    

 

 

   

 

 

 
Schedule Of Trading Securities
Schedule Of Contractual Maturity Dates Of Available For Sale Fixed Maturity Investments
                 
     December 31, 2011  
     Amortized Cost      Fair Value  

Due within one year

   $ 31,492       $ 31,981   

Due after one year through five years

     164,329         176,592   

Due after five years through ten years

     27,561         31,634   

Due after ten years

     3,015         3,809   
    

 

 

    

 

 

 
     $ 226,397       $ 244,016   
    

 

 

    

 

 

 
Schedule Of Fair Value Of Investments And Cash And Cash Equivalents
Schedule Of Net Investment Income
                         
     For the year ended
December 31,
 
     2011     2010     2009  

Fixed maturity investments

   $ 194,093      $ 245,407      $ 306,578   

Equity securities and other invested assets

     15,088        9,800        1,506   

Cash and cash equivalents

     963        671        1,570   

Expenses

     (14,196 )      (11,735 )      (8,979 ) 
    

 

 

   

 

 

   

 

 

 

Net investment income

   $ 195,948      $ 244,143      $ 300,675   
    

 

 

   

 

 

   

 

 

 
Components Of Realized Gains And Losses
 

f)  Components of Realized Gains and Losses

Components of realized gains and losses are summarized in the following table:

                       
     For the year ended December 31,  
     2011     2010     2009  

Gross realized gains on sale of invested assets

   $ 154,941      $ 242,421      $ 185,322   

Gross realized losses on sale of invested assets

     (62,169 )      (26,621 )      (90,856 ) 

Treasury yield hedge

     —        (3,958 )      —   

Futures not designated as hedges

     (57,234 )      —        —   

Foreign exchange forwards not designated as hedges

     (2,807 )      —        —   

Mark-to-market changes: debt securities trading

     (8,078 )      42,172        12,603   

Mark-to-market changes: foreign exchange forwards and futures not designated as hedges

     (5,924 )      —        —   

Mark-to-market changes: put options

     (4,125 )      —        —   

Mark-to-market changes: other invested assets and equity securities

     (4,527 )      29,738        19,283   

Gain on sale of Program Administrator

     —        1,860        —   
    

 

 

   

 

 

   

 

 

 

Net realized investment gains

   $ 10,077      $ 285,612      $ 126,352   
    

 

 

   

 

 

   

 

 

 

Proceeds from sale of available for sale securities

   $ 646,479      $ 2,703,695      $ 8,402,666   

Proceeds from sale of trading securities

     6,841,666        11,042,968        1,870,625   
Schedule Of Company's Trust Accounts On Deposit, Outstanding And Remaining Letter Of Credit Facilities, And Collateral Committed To Support The Letter Of Credit Facilities
Summary Of The Market Value Of Those Available For Sale Investments In An Unrealized Loss Position For Periods Less Than And Greater Than 12 Months
                                 
     December 31, 2011     December 31, 2010  
     Gross Fair      Unrealized     Gross Fair      Unrealized  
     Value      Loss     Value      Loss  

Less than 12 months

                                  

Non-U.S. Government and Government agencies

   $ —       $ —      $ 34,204       $ (1,116 ) 

States, municipalities and political subdivisions

     —         —        472         (13 ) 

Corporate debt

                                  

Financial institutions

     9,440         (292 )      2,796         (38 ) 

Industrials

     —         —        2,150         (2 ) 
    

 

 

    

 

 

   

 

 

    

 

 

 
     $ 9,440       $ (292 )    $ 39,622       $ (1,169 ) 
    

 

 

    

 

 

   

 

 

    

 

 

 

More than 12 months

                                  

Non-U.S. Government and Government agencies

   $ —       $ —      $ 10,998       $ (1,425 ) 
    

 

 

    

 

 

   

 

 

    

 

 

 
     $ —       $ —      $ 10,998       $ (1,425 ) 
    

 

 

    

 

 

   

 

 

    

 

 

 
     $ 9,440       $ (292 )    $ 50,620       $ (2,594 ) 
    

 

 

    

 

 

   

 

 

    

 

 

 
Range Of Credit Default Rates And Severity Rates
         

Significant Input

   Range of Inputs   Weighted Average
of Input

Credit default rate

   0.6%—11.0%   6.1%

Severity rate

   30.1%—100.0%   37.2%
Schedule Of Amounts Related To Credit Losses On Debt Securities For Which A Portion Of The OTTI Was Recognized In Other Comprehensive Income
         
     For the Year
Ended December 31,
2010
 

Beginning balance of credit losses

   $ 1,096   

Additions for credit loss for which OTTI was not previously recognized

     168   

Reductions for securities sold during the period (realized)

     —   

Reductions for OTTI previously recognized due to intent to sell

     —   

Additions resulting from the increase in credit losses

     —   

Reductions resulting from the improvement in expected cash flows

     —   

Adoption of ASU 2010-11

     (1,264 ) 
    

 

 

 

Ending balance of credit losses

   $ —   
    

 

 

 
Net Impairment Charges Recognized In Earnings
                         
      2011      2010      2009  

Asset backed

   $ —       $ —       $ 31,545   

Mortgage backed

     —         168         18,027   

U.S. government and government agencies

     —         —         5   

Non-U.S. government and government agencies

     —         —         —   

Corporate

     —         —         —   

States, municipalities and political subdivisions

     —         —         —   
    

 

 

    

 

 

    

 

 

 

Total other-than-temporary impairment charges

   $ —       $ 168       $ 49,577