Fair Value Of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Of Financial Instruments [Abstract]

Fair value hierarchy and related disclosures

		Carrying		Total
June 30, 2013		Amount		Fair Value		Level 1		Level 2		Level 3
Fixed maturity investments:
	U.S. Government and Government agencies	$	2,049,212	$	2,049,212	$	1,709,513	$	339,699	$	0
	Non-U.S. Government and Government agencies		233,301		233,301		0		233,301		0
	States, municipalities and political subdivisions		33,621		33,621		0		33,621		0
	Corporate debt		1,951,140		1,951,140		0		1,951,140		0
	Mortgage-backed		1,589,021		1,589,021		0		1,391,018		198,003
	Asset-backed		429,483		429,483		0		368,198		61,285
Total fixed maturity investments			6,285,778		6,285,778		1,709,513		4,316,977		259,288
Equity securities			640,925		640,925		587,426		0		53,499
Other invested assets			714,391		714,391		0		0		714,391
Total investments		$	7,641,094	$	7,641,094	$	2,296,939	$	4,316,977	$	1,027,178
Derivative assets:
	Foreign exchange contracts	$	9,248	$	9,248	$	0	$	9,248	$	0
Derivative liabilities:
	Foreign exchange contracts	$	4,612	$	4,612	$	0	$	4,612	$	0
	Interest rate swaps		161		161		0		161		0
Senior notes		$	798,355	$	903,660	$	0	$	903,660	$	0

		Carrying		Total
December 31, 2012		Amount		Fair Value		Level 1		Level 2		Level 3
Fixed maturity investments:
	U.S. Government and Government agencies	$	1,865,913	$	1,865,913	$	1,529,158	$	336,755	$	0
	Non-U.S. Government and Government agencies		261,627		261,627		0		261,627		0
	States, municipalities and political subdivisions		40,444		40,444		0		40,444		0
	Corporate debt		2,089,202		2,089,202		0		2,089,202		0
	Mortgage-backed		1,958,373		1,958,373		0		1,790,548		167,825
	Asset-backed		410,895		410,895		0		348,649		62,246
Total fixed maturity investments			6,626,454		6,626,454		1,529,158		4,867,225		230,071
Equity securities			523,949		523,949		469,269		0		54,680
Other invested assets			655,888		655,888		0		0		655,888
Total investments		$	7,806,291	$	7,806,291	$	1,998,427	$	4,867,225	$	940,639
Derivative assets:
	Foreign exchange contracts	$	1,713	$	1,713	$	0	$	1,713	$	0
Derivative liabilities:
	Foreign exchange contracts	$	2,656	$	2,656	$	0	$	2,656	$	0
Senior notes		$	798,215	$	918,627	$	0	$	918,627	$	0

Fair value measurements using significant unobservable inputs (Level 3)

	Other invested assets		Mortgage-backed		Asset-backed		Equities
Three Months Ended June 30, 2013
Opening balance	$	710,140	$	155,420	$	40,903	$	57,787
Realized and unrealized gains (losses) included in net income		11,709		(6,188)		(289)		(4,288)
Purchases		96,742		72,261		23,527		0
Sales		(104,200)		(27,887)		(1,727)		0
Transfers into Level 3 from Level 2		0		11,197		0		0
Transfers out of Level 3 into Level 2 (1)		0		(6,800)		(1,129)		0
Ending balance	$	714,391	$	198,003	$	61,285	$	53,499
Three Months Ended June 30, 2012
Opening balance	$	522,065	$	178,374	$	242,394	$	0
Realized and unrealized (losses) gains included in net income		(641)		1,780		(220)		0
Purchases		16,728		40,352		23,267		0
Sales		(17,262)		(34,755)		(47,537)		0
Transfers into Level 3 from Level 2		0		3,707		8,654		0
Transfers out of Level 3 into Level 2 (1)		0		(31,499)		(108,972)		0
Ending balance	$	520,890	$	157,959	$	117,586	$	0

	Other invested assets		Mortgage-backed		Asset-backed		Equities
Six Months Ended June 30, 2013
Opening balance	$	655,888	$	167,825	$	62,246	$	54,680
Realized and unrealized gains (losses) included in net income		43,962		(7,613)		(382)		(1,181)
Purchases		169,952		71,752		24,782		0
Sales		(155,411)		(29,864)		(18,478)		0
Transfers into Level 3 from Level 2		0		7,109		0		0
Transfers out of Level 3 into Level 2 (1)		0		(11,206)		(6,883)		0
Ending balance	$	714,391	$	198,003	$	61,285	$	53,499
Six Months Ended June 30, 2012
Opening balance	$	540,409	$	249,204	$	94,745	$	0
Realized and unrealized gains included in net income		14,882		4,324		904		0
Purchases		17,778		41,376		31,580		0
Sales		(52,179)		(108,165)		(48,133)		0
Transfers into Level 3 from Level 2		0		4,495		55,498		0
Transfers out of Level 3 into Level 2 (1)		0		(33,275)		(17,008)		0
Ending balance	$	520,890	$	157,959	$	117,586	$	0

(1) Transfers out of Level 3 are primarily attributable to the availability of market observable information.