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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Investments    
Fixed income securities - available for sale, at fair value (amortized cost: 2011-$5,385,432; 2010 - $4,864,806) $ 5,718,834 $ 4,999,440
Fixed income securities - held to maturity, at amortized cost (fair value: 2011-$163,136; 2010-$195,811) 161,102 193,668
Short-term investments, at cost, which approximates fair value 133,917 488,002
Other investments, at fair value (amortized cost: 2011-$38,230; 2010-$5,967) 35,897 5,985
Total investments 6,049,750 5,687,095
Cash 104,550 97,857
Restricted cash 229,821 148,547
Premium, claims and other receivables 688,732 635,867
Reinsurance recoverables 1,056,068 1,006,855
Ceded unearned premium 222,300 278,663
Ceded life and annuity benefits 61,061 58,409
Deferred policy acquisition costs 217,608 212,786
Goodwill 872,814 821,648
Other assets 122,549 116,355
Total assets 9,625,253 9,064,082
LIABILITIES    
Loss and loss adjustment expense payable 3,658,317 3,471,858
Life and annuity policy benefits 61,061 58,409
Reinsurance, premium and claims payable 366,499 345,730
Unearned premium 1,031,034 1,045,877
Deferred ceding commissions 62,364 72,565
Notes payable 478,790 298,637
Accounts payable and accrued liabilities 675,174 474,574
Total liabilities 6,333,239 5,767,650
SHAREHOLDERS' EQUITY    
Common stock, $1.00 par value; 250,000 shares authroized (shares issued: 2011-122,720 and 2010-120,942; outstanding: 2011-104,101 and 2010-114,968) 122,720 120,942
Additional paid-in capital 1,001,308 954,332
Retained earnings 2,447,850 2,257,895
Accumulated other comprehensive income 227,659 97,186
Treasury stock, at cost (507,523) (133,923)
Total shareholders' equity 3,292,014 3,296,432
Total liabilities and shareholders' equity $ 9,625,253 $ 9,064,082