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CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
In Thousands
Sep. 30, 2011
Dec. 31, 2010
Securities, available-for-sale, at fair value:  
Fixed maturities (amortized cost, 2011 - $6,255,817; 2010 - $7,366,808)$ 6,455,521$ 7,455,238
Equity securities2,6993,044
Total investment portfolio6,458,2207,458,282
Cash and cash equivalents866,6141,304,154
Accrued investment income67,10470,305
Reinsurance recoverable on loss reserves (note 4)166,874275,290
Reinsurance recoverable on paid losses15,32034,160
Prepaid reinsurance premiums1,7822,637
Premium receivable73,89579,567
Home office and equipment, net28,52728,638
Deferred insurance policy acquisition costs7,6968,282
Other assets61,27172,327
Total assets7,747,3039,333,642
Liabilities:  
Loss reserves (note 12)4,791,5605,884,171
Premium deficiency reserve (note 13)146,525178,967
Unearned premiums166,703215,157
Senior notes (note 3)244,259376,329
Convertible senior notes (note 3)345,000345,000
Convertible junior debentures (note 3)336,694315,626
Other liabilities327,737349,337
Total liabilities6,358,4787,664,587
Contingencies (note 5)  
Shareholders' equity:  
Common stock ($1 par value, shares authorized 460,000,000; shares issued, 2011 - 205,046,780; 2010 - 205,046,780; shares outstanding, 2011 - 201,171,528; 2010 - 200,449,588)205,047205,047
Paid-in capital1,133,2701,138,942
Treasury stock (shares at cost, 2011 - 3,875,252; 2010 - 4,597,192)(162,542)(222,632)
Accumulated other comprehensive income, net of tax (note 9)89,39322,136
Retained earnings123,657525,562
Total shareholders' equity1,388,8251,669,055
Total liabilities and shareholders' equity$ 7,747,303$ 9,333,642