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Investments - Cost (amortized cost for fixed maturities and short-term investments), fair value, gross unrealized gains, gross unrealized (losses), and OTTI recorded in AOCI (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
AFS securities    
Cost or amortized cost of Fixed maturities $ 26,016,208 $ 26,544,806
Gross unrealized gains, fixed maturities 877,540 1,584,812
Gross unrealized losses related to changes in estimated fair value, fixed maturities (438,645) (282,698)
Fixed maturities, at fair value 26,455,103 27,846,920
Gross Unrealized Losses Non-credit related OTTI (99,451) [1] (119,076) [1]
Short-term investments, amortized cost 234,775 322,563
Short-term investments, gross unrealized gains 214 [2] 192 [2]
Short-term investments, gross unrealized losses related to changes in estimated fair value (537) [2] (52) [2]
Short-term investments, at fair value 234,452 322,703
Cost of equity securities 873,465 617,486
Equity securities, gross unrealized gains 64,450 [3] 31,935 [3]
Equity securities, gross unrealized losses related to changes in estimated fair value (21,907) [3] (62) [3]
Equity securities, at fair value 916,008 649,359
Available-for-sale Securities, Amortized Cost Basis 27,124,448 27,484,855
Gross unrealized gains, available for sale 942,204 1,616,939
Gross unrealized losses related to changes in estimated fair value, available for sale (461,089) (282,812)
Total investments available for sale 27,605,563 28,818,982
Fixed maturities - HTM    
Fixed maturities, held to maturity 2,686,994 2,814,447
Gross unrealized gains, held to maturity 295,248 451,038
Gross unrealized losses related to changes in estimated fair value, held to maturity (3,261) (2,681)
Fair value of held to maturity securities 2,978,981 3,262,804
U.S. Government and Government - Related/Supported
   
AFS securities    
Cost or amortized cost of Fixed maturities 1,971,139 [2] 1,906,044 [2]
Gross unrealized gains, fixed maturities 71,410 [2] 131,860 [2]
Gross unrealized losses related to changes in estimated fair value, fixed maturities (19,727) [2] (3,287) [2]
Fixed maturities, at fair value 2,022,822 [2] 2,034,617 [2]
Gross Unrealized Losses Non-credit related OTTI 0 [1],[2] 0 [1],[2]
Fixed maturities - HTM    
Fixed maturities, held to maturity 10,241 10,788
Gross unrealized gains, held to maturity 985 1,651
Gross unrealized losses related to changes in estimated fair value, held to maturity 0 0
Fair value of held to maturity securities 11,226 12,439
Corporate
   
AFS securities    
Cost or amortized cost of Fixed maturities 9,752,465 [4],[5] 9,837,962 [4],[5]
Gross unrealized gains, fixed maturities 451,524 [4],[5] 723,028 [4],[5]
Gross unrealized losses related to changes in estimated fair value, fixed maturities (124,514) [4],[5] (78,990) [4],[5]
Fixed maturities, at fair value 10,079,475 [4],[5] 10,482,000 [4],[5]
Gross Unrealized Losses Non-credit related OTTI (11,417) [1],[4],[5] (11,453) [1],[4],[5]
Fixed maturities - HTM    
Fixed maturities, held to maturity 1,312,332 1,425,320
Gross unrealized gains, held to maturity 118,136 190,871
Gross unrealized losses related to changes in estimated fair value, held to maturity (2,122) (794)
Fair value of held to maturity securities 1,428,346 1,615,397
RMBS - Agency
   
AFS securities    
Cost or amortized cost of Fixed maturities 4,411,540 5,054,097
Gross unrealized gains, fixed maturities 90,119 206,931
Gross unrealized losses related to changes in estimated fair value, fixed maturities (54,934) (5,535)
Fixed maturities, at fair value 4,446,725 5,255,493
Gross Unrealized Losses Non-credit related OTTI 0 [1] 0 [1]
RMBS - Non-Agency
   
AFS securities    
Cost or amortized cost of Fixed maturities 418,458 678,469
Gross unrealized gains, fixed maturities 28,161 46,132
Gross unrealized losses related to changes in estimated fair value, fixed maturities (40,217) (76,868)
Fixed maturities, at fair value 406,402 647,733
Gross Unrealized Losses Non-credit related OTTI (77,252) [1] (93,259) [1]
Fixed maturities - HTM    
Fixed maturities, held to maturity 62,925 83,205
Gross unrealized gains, held to maturity 4,824 10,502
Gross unrealized losses related to changes in estimated fair value, held to maturity 0 0
Fair value of held to maturity securities 67,749 93,707
CMBS
   
AFS securities    
Cost or amortized cost of Fixed maturities 1,093,641 1,010,794
Gross unrealized gains, fixed maturities 49,889 70,745
Gross unrealized losses related to changes in estimated fair value, fixed maturities (14,458) (4,288)
Fixed maturities, at fair value 1,129,072 1,077,251
Gross Unrealized Losses Non-credit related OTTI (2,911) [1] (2,962) [1]
Fixed maturities - HTM    
Fixed maturities, held to maturity 136,193 12,751
Gross unrealized gains, held to maturity 14,739 2,048
Gross unrealized losses related to changes in estimated fair value, held to maturity 0 0
Fair value of held to maturity securities 150,932 14,799
CDO
   
AFS securities    
Cost or amortized cost of Fixed maturities 753,601 784,999
Gross unrealized gains, fixed maturities 8,992 11,973
Gross unrealized losses related to changes in estimated fair value, fixed maturities (48,345) (87,156)
Fixed maturities, at fair value 714,248 709,816
Gross Unrealized Losses Non-credit related OTTI (4,840) [1] (4,872) [1]
Other asset-backed securities
   
AFS securities    
Cost or amortized cost of Fixed maturities 1,165,383 [6] 1,426,483 [6]
Gross unrealized gains, fixed maturities 36,557 [6] 59,663 [6]
Gross unrealized losses related to changes in estimated fair value, fixed maturities (13,180) [6] (15,435) [6]
Fixed maturities, at fair value 1,188,760 [6] 1,470,711 [6]
Gross Unrealized Losses Non-credit related OTTI (3,031) [1],[6] (6,530) [1],[6]
Fixed maturities - HTM    
Fixed maturities, held to maturity 100,551 [6] 222,340 [6]
Gross unrealized gains, held to maturity 8,225 [6] 29,287 [6]
Gross unrealized losses related to changes in estimated fair value, held to maturity (214) [6] (167) [6]
Fair value of held to maturity securities 108,562 [6] 251,460 [6]
U.S. States and political subdivisions of the States
   
AFS securities    
Cost or amortized cost of Fixed maturities 1,758,251 1,767,669
Gross unrealized gains, fixed maturities 64,741 146,294
Gross unrealized losses related to changes in estimated fair value, fixed maturities (24,725) (2,946)
Fixed maturities, at fair value 1,798,267 1,911,017
Gross Unrealized Losses Non-credit related OTTI 0 [1] 0 [1]
Non-U.S. Sovereign Government, Provincial, Supranational, and Government-Related/Supported
   
AFS securities    
Cost or amortized cost of Fixed maturities 4,691,730 [2] 4,078,289 [2]
Gross unrealized gains, fixed maturities 76,147 [2] 188,186 [2]
Gross unrealized losses related to changes in estimated fair value, fixed maturities (98,545) [2] (8,193) [2]
Fixed maturities, at fair value 4,669,332 [2] 4,258,282 [2]
Gross Unrealized Losses Non-credit related OTTI 0 [1],[2] 0 [1],[2]
Fixed maturities - HTM    
Fixed maturities, held to maturity 1,064,752 [2] 1,060,043 [2]
Gross unrealized gains, held to maturity 148,339 [2] 216,679 [2]
Gross unrealized losses related to changes in estimated fair value, held to maturity (925) [2] (1,720) [2]
Fair value of held to maturity securities $ 1,212,166 [2] $ 1,275,002 [2]
[1] Represents the non-credit component of OTTI losses, adjusted for subsequent sales of securities. It does not include the change in fair value subsequent to the impairment measurement date.
[2] U.S. Government and Government-Related/Supported, Non-U.S. Sovereign Government, Provincials, Supranationals and Government-Related/Supported and Total short-term investments includes government-related securities with an amortized cost of $2,357.0 million and fair value of $2,374.5 million and U.S. Agencies with an amortized cost of $297.2 million and fair value of $321.6 million.
[3] Included within Total equity securities are investments in fixed income funds with a fair value of $91.3 million and an amortized cost of $100.0 million at June 30, 2013.
[4] Included within Corporate are certain medium term notes supported primarily by pools of European investment grade credit with varying degrees of leverage. The notes have a fair value of $149.4 million and an amortized cost of $150.2 million. These notes allow the investor to participate in cash flows of the underlying bonds including certain residual values, which could serve to either decrease or increase the ultimate values of these notes.
[5] Included within Corporate are Tier One and Upper Tier Two securities, representing committed term debt and hybrid instruments, which are senior to the common and preferred equities of the financial institutions. These securities have a fair value of $281.4 million and an amortized cost of $298.6 million at June 30, 2013.
[6] Covered Bonds within Fixed maturities - AFS with an amortized cost of $523.5 million and a fair value of $550.9 million and Covered Bonds within Fixed maturities - HTM with an amortized cost of $8.0 million and a fair value of $8.2 million are included within Other asset-backed securities to align the Company's classification to market indices.