Segment Information (Tables)

6 Months Ended

Jun. 30, 2013

			International
Three Months Ended June 30, 2013	U.S. Insurance		Insurance		Reinsurance		Total
Gross premiums written	$	307,297	$	192,593	$	265,310	$	765,200
Net premiums written		221,419		106,394		253,409		581,222
Net premiums earned		197,436		87,041		222,794		507,271
Net losses and loss expenses		(124,364)		(30,968)		(119,796)		(275,128)
Acquisition costs		(27,270)		358		(37,705)		(64,617)
General and administrative expenses		(38,302)		(24,135)		(18,148)		(80,585)
Underwriting income		7,500		32,296		47,145		86,941
Net investment income								37,635
Net realized investment losses								(115,198)
Amortization of intangible assets								(634)
Interest expense								(14,188)
Foreign exchange loss								(490)
Loss before income taxes							$	(5,934)

Loss and loss expense ratio		63.0%		35.6%		53.8%		54.2%
Acquisition cost ratio		13.8%		(0.4%)		16.9%		12.7%
General and administrative expense ratio		19.4%		27.7%		8.1%		15.9%
Combined ratio		96.2%		62.9%		78.8%		82.8%

			International
Three Months Ended June 30, 2012	U.S. Insurance		Insurance		Reinsurance		Total
Gross premiums written	$	265,974	$	183,593	$	197,303	$	646,870
Net premiums written		196,661		111,342		186,707		494,710
Net premiums earned		162,785		82,605		184,357		429,747
Net losses and loss expenses		(103,074)		(22,233)		(115,073)		(240,380)
Acquisition costs		(21,250)		582		(30,920)		(51,588)
General and administrative expenses		(34,730)		(21,648)		(17,601)		(73,979)
Underwriting income		3,731		39,306		20,763		63,800
Net investment income								42,451
Net realized investment gains								8,663
Amortization of intangible assets								(634)
Interest expense								(14,001)
Foreign exchange gain								1,019
Income before income taxes							$	101,298

Loss and loss expense ratio		63.3%		26.9%		62.4%		55.9%
Acquisition cost ratio		13.1%		(0.7%)		16.8%		12.0%
General and administrative expense ratio		21.3%		26.2%		9.5%		17.2%
Combined ratio		97.7%		52.4%		88.7%		85.1%

			International
Six Months Ended June 30, 2013	U.S. Insurance		Insurance		Reinsurance		Total
Gross premiums written	$	563,315	$	321,109	$	717,857	$	1,602,281
Net premiums written		413,672		184,139		678,463		1,276,274
Net premiums earned		385,875		171,255		413,369		970,499
Net losses and loss expenses		(257,688)		(59,903)		(212,715)		(530,306)
Acquisition costs		(50,398)		1,207		(72,111)		(121,302)
General and administrative expenses		(77,898)		(48,924)		(36,443)		(163,265)
Underwriting (loss) income		(109)		63,635		92,100		155,626
Net investment income								71,023
Net realized investment losses								(35,561)
Amortization of intangible assets								(1,267)
Interest expense								(28,322)
Foreign exchange loss								(3,008)
Income before income taxes							$	158,491

Loss and loss expense ratio		66.8%		35.0%		51.5%		54.6%
Acquisition cost ratio		13.1%		(0.7%)		17.4%		12.5%
General and administrative expense ratio		20.2%		28.6%		8.8%		16.8%
Combined ratio		100.1%		62.9%		77.7%		83.9%

			International
Six Months Ended June 30, 2012	U.S. Insurance		Insurance		Reinsurance		Total
Gross premiums written	$	470,185	$	297,183	$	560,431	$	1,327,799
Net premiums written		350,507		183,951		549,205		1,083,663
Net premiums earned		316,143		162,476		353,018		831,637
Net losses and loss expenses		(200,778)		(60,333)		(204,471)		(465,582)
Acquisition costs		(41,222)		1,110		(58,614)		(98,726)
General and administrative expenses		(65,774)		(44,049)		(34,522)		(144,345)
Underwriting income		8,369		59,204		55,411		122,984
Net investment income								89,660
Net realized investment gains								142,244
Amortization of intangible assets								(1,267)
Interest expense								(27,757)
Foreign exchange gain								1,100
Income before income taxes							$	326,964

Loss and loss expense ratio		63.5%		37.1%		57.9%		56.0%
Acquisition cost ratio		13.0%		(0.7%)		16.6%		11.9%
General and administrative expense ratio		20.8%		27.1%		9.8%		17.3%
Combined ratio		97.3%		63.5%		84.3%		85.2%

Gross premiums written by geographic location

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
United States	$	440,151	$	349,577	$	918,594	$	738,548
Bermuda		211,040		193,195		439,712		375,358
Europe		60,234		60,008		146,743		135,384
Singapore		48,918		40,128		87,031		69,311
Hong Kong		4,857		3,962		10,201		9,198
Total gross premiums written	$	765,200	$	646,870	$	1,602,281	$	1,327,799

- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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