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Fair Value Of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2011

Fair Value Of Financial Instruments [Abstract]

Schedule Of Fair Value Of Financial Instruments


										Fair value measurement using:
December 31, 2011		Carrying amount				Total fair value				Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)
Available for sale securities:
U.S. Government and Government agencies		$	33,630			$	33,630			$	33,630			$	—			$	—
States, municipalities and political subdivisions			33,479				33,479				—				33,479				—
Corporate debt			176,907				176,907				—				176,907				—

Total available for sale fixed maturity investments			244,016				244,016

Trading securities:
U.S. Government and Government agencies		$	1,278,265			$	1,278,265			$	1,054,003			$	224,262			$	—
Non-U.S. Government and
Government agencies			256,756				256,756				—				256,756				—
States, municipalities and political subdivisions			133,902				133,902				—				133,902				—
Corporate debt			2,254,474				2,254,474				—				2,254,474				—
Mortgage-backed			1,818,091				1,818,091				—				1,568,887				249,204
Asset-backed			513,198				513,198				—				418,453				94,745

Total trading fixed maturity investments			6,254,686				6,254,686

Total fixed maturity investments			6,498,702				6,498,702

Equity securities			367,483				367,483				367,483				—				—
Other invested assets			540,409				540,409				—				—				540,409

Total investments			7,406,594				7,406,594				1,455,116				5,067,120				884,358

Senior notes			797,949				872,731				—				872,731				—


										Fair value measurement using:
December 31, 2010		Carrying amount				Total fair value				Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)

Available for sale securities:
U.S. Government and Government agencies		$	91,953			$	91,953			$	65,234			$	26,719			$	—
Non- U.S. Government and Government agencies			145,384				145,384				—				145,384				—
States, municipalities and political subdivisions			118,177				118,177				—				118,177				—
Corporate debt			536,335				536,335				—				536,335				—

Total available for sale fixed maturity investments			891,849				891,849

Trading securities:
U.S. Government and Government agencies		$	1,229,720			$	1,229,720			$	1,088,967			$	140,753			$	—
Non-U.S. Government and Government agencies			120,793				120,793				—				120,793				—
States, municipalities and political subdivisions			127,436				127,436				—				127,436				—
Corporate debt			1,990,215				1,990,215				—				1,990,215				—
Mortgage-backed			1,751,883				1,751,883				—				1,579,324				172,559
Asset-backed			549,050				549,050				—				500,343				48,707

Total trading fixed maturity investments			5,769,097				5,769,097

Total fixed maturity investments			6,660,946				6,660,946

Equity securities			174,976				174,976				174,976				—				—
Other invested assets			347,632				347,632				—				—				347,632

Total investments			7,183,554				7,183,554				1,329,177				5,285,479				568,898

Senior notes			797,700				850,570				—				850,570				—

Schedule Of Fair Value Measurement Using Significant Unobservable Inputs Level Three


		Fair value measurement using significant unobservable inputs (Level 3):
		Other invested assets				Mortgage- backed				Asset-backed
Year Ended December 31, 2011
Opening balance		$	347,632			$	172,559			$	48,707
Total realized and unrealized gains included in net income			22,059				4,472				90
Total realized and unrealized losses included in net income			(25,679	)			(6,603	)			(452	)
Purchases			311,185				101,302				24,056
Sales			(114,788	)			(44,549	)			(3,204	)
Transfers into Level 3			—				63,717				30,536
Transfers out of Level 3			—				(41,694	)			(4,988	)

Ending balance		$	540,409			$	249,204			$	94,745

Year Ended December 31, 2010
Opening balance		$	184,725			$	253,979			$	104,871
Total realized and unrealized gains included in net income			18,368				24,983				818
Total realized and unrealized losses included in net income			(965	)			(9,247	)			(233	)
Change in unrealized gains included in OCI			—				5,781				70
Change in unrealized losses included in OCI			—				(3,026	)			(6	)
Purchases			155,504				138,995				64,275
Sales			(10,000	)			(252,769	)			(21,944	)
Cumulative effect adjustment related to the adoption of ASU
2010-11			—				1,796				(19	)
Transfers into Level 3			—				56,582				56,033
Transfers out of Level 3			—				(44,515	)			(155,158	)

Ending balance		$	347,632			$	172,559			$	48,707

- Definition

This element represents the disclosure related to assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19190-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 5

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19296-110258

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 33

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 6

-Footnote 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details