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CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
In Thousands
Jun. 30, 2011
Dec. 31, 2010
Investment portfolio (notes 7 and 8)    
Fixed maturities (amortized cost, 2011 - $6,618,208; 2010 - $7,366,808) $ 6,743,812 $ 7,455,238
Equity securities 2,637 3,044
Total investment portfolio 6,746,449 7,458,282
Cash and cash equivalents 1,038,568 1,304,154
Accrued investment income 67,555 70,305
Reinsurance recoverable on loss reserves (note 4) 206,170 275,290
Reinsurance recoverable on paid losses 32,259 34,160
Prepaid reinsurance premiums 1,962 2,637
Premium receivable 74,717 79,567
Home office and equipment, net 28,962 28,638
Deferred insurance policy acquisition costs 7,970 8,282
Other assets 65,124 72,327
Total assets 8,269,736 9,333,642
Liabilities:    
Loss reserves (note 12) 5,082,902 5,884,171
Premium deficiency reserve (note 13) 158,913 178,967
Unearned premiums 186,985 215,157
Senior notes (note 3) 321,621 376,329
Convertible senior notes (note 3) 345,000 345,000
Convertible junior debentures (note 3) 329,330 315,626
Other liabilities 332,125 349,337
Total liabilities 6,756,876 7,664,587
Contingencies (note 5)    
Shareholders' equity:    
Common stock ($1 par value, shares authorized 460,000,000; shares issued, 2011 - 205,046,780; 2010 - 205,046,780; shares outstanding, 2011 - 201,146,648; 2010 - 200,449,588) 205,047 205,047
Paid-in capital 1,131,557 1,138,942
Treasury stock (shares at cost, 2011 - 3,900,132; 2010 - 4,597,192) (163,586) (222,632)
Accumulated other comprehensive income, net of tax (note 9) 50,977 22,136
Retained earnings 288,865 525,562
Total shareholders' equity 1,512,860 1,669,055
Total liabilities and shareholders' equity $ 8,269,736 $ 9,333,642