Unaudited Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
ASSETS:
Fixed maturity investments available for sale, at fair value (amortized cost: 2012: $26,954; 2011: $226,397)	$ 29,085	$ 244,016
Fixed maturity investments trading, at fair value (amortized cost: 2012: $6,934,821; 2011: $6,207,991)	7,125,860	6,254,686
Equity securities trading, at fair value (cost: 2012: 436,983; 2011: $356,370)	490,418	367,483
Other invested assets trading, at fair value	564,702	540,409
Total investments	8,210,065	7,406,594
Cash and cash equivalents	639,517	633,996
Restricted cash	46,923	82,608
Insurance balances receivable	754,978	652,158
Prepaid reinsurance	262,163	226,721
Reinsurance recoverable	1,077,522	1,002,919
Accrued investment income	32,348	38,263
Net deferred acquisition costs	127,527	100,334
Goodwill	268,376	268,376
Intangible assets	51,998	53,898
Balances receivable on sale of investments	756,570	580,443
Net deferred tax assets	23,185	22,646
Other assets	60,817	53,202
Total assets	12,311,989	11,122,158
LIABILITIES:
Reserve for losses and loss expenses	5,450,787	5,225,143
Unearned premiums	1,316,399	1,078,412
Reinsurance balances payable	120,432	124,539
Balances due on purchases of investments	1,075,069	616,728
Senior notes	798,147	797,949
Dividends payable	0	14,302
Accounts payable and accrued liabilities	115,369	116,063
Total liabilities	8,876,203	7,973,136
SHAREHOLDERS' EQUITY:
Common shares, 2012: par value CHF 12.98 per share and 2011: par value CHF 14.03 per share, (2012: 37,083,742; 2011: 40,003,642 shares issued and 2012: 35,402,558; 2011: 37,742,131 shares outstanding)	477,246	557,153
Additional paid-in capital	0	78,225
Treasury shares, at cost (2012: 1,681,184; 2011: 2,261,511)	(120,944)	(136,590)
Retained earnings	3,078,099	2,635,750
Accumulated other comprehensive income: net unrealized gains on investments, net of tax	1,385	14,484
Total shareholders' equity	3,435,786	3,149,022
Total liabilities and shareholders' equity	$ 12,311,989	$ 11,122,158