CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenues
Net premiums earned	$ 850,603	$ 840,014	$ 1,696,968	$ 1,628,215
Net investment income	74,449	100,018	190,472	210,673
Other insurance related income	299	126	931	889
Net realized investment gains:
Other-than-temporary impairment (OTTI) losses	(13,739)	(1,473)	(17,648)	(3,628)
Non-credit portion of OTTI losses recognized in other comprehensive income	0	0	0	215
Other realized investment gains	44,144	38,950	62,544	71,034
Total net realized investment gains	30,405	37,477	44,896	67,621
Total revenues	955,756	977,635	1,933,267	1,907,398
Expenses
Net losses and loss expenses	467,637	564,959	978,328	1,584,759
Acquisition costs	156,397	147,905	324,793	283,262
General and administrative expenses	161,331	118,105	284,984	234,625
Foreign exchange losses (gains)	(36,162)	18,517	(15,715)	33,575
Interest expense and financing costs	15,170	15,445	30,807	31,305
Total expenses	764,373	864,931	1,603,197	2,167,526
Income (loss) before income taxes	191,383	112,704	330,070	(260,128)
Income tax expense	2,317	2,417	5,165	4,126
Net income (loss)	189,066	110,287	324,905	(264,254)
Preferred share dividends	11,527	9,219	20,746	18,438
Loss on repurchase of preferred shares	9,387	0	14,009	0
Net income (loss) available to common shareholders	$ 168,152	$ 101,068	$ 290,150	$ (282,692)
Net income (loss) per common share:
Basic net income (loss)	$ 1.36	$ 0.81	$ 2.32	$ (2.38)
Diluted net income (loss)	$ 1.35	$ 0.79	$ 2.31	$ (2.38)
Weighted average number of common shares outstanding - basic	123,823	124,132	124,802	118,771
Weighted average number of common shares outstanding - diluted	124,983	128,369	125,825	118,771
Cash dividends declared per common share	$ 0.24	$ 0.23	$ 0.48	$ 0.46