XML 122 R53.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Fair Value - Valuation Technique and Inputs (Details)
$ in Thousands
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fixed maturities, at fair value $ 10,680,714 $ 12,639,845
Equities, at fair value 1,295,164 694,301
Other invested assets carried at fair value 2,399,885 784,603
Significant unobservable inputs (Level 3)    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fixed maturities, at fair value 180,342 159,964
Equities, at fair value 1,211,761 647,725
Other invested assets carried at fair value 2,413,277 779,640
Insurance    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equities, at fair value 14,960 2,960
Insurance | Significant unobservable inputs (Level 3)    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equities, at fair value 9,403 0
Finance    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equities, at fair value 31,443 25,018
Finance | Significant unobservable inputs (Level 3)    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equities, at fair value 126 13,710
Technology    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equities, at fair value 3,027 17,748
Technology | Significant unobservable inputs (Level 3)    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equities, at fair value 0 12,256
U.S. states, territories and municipalities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fixed maturities, at fair value 157,234 134,593
U.S. states, territories and municipalities | Significant unobservable inputs (Level 3)    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fixed maturities, at fair value 143,427 120,898
Fixed maturities | U.S. states, territories and municipalities | Significant unobservable inputs (Level 3) | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fixed maturities, at fair value $ 143,427 $ 120,898
Fixed maturities | U.S. states, territories and municipalities | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fixed maturities, measurement input (0.001) 0.002
Fixed maturities | U.S. states, territories and municipalities | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fixed maturities, measurement input 0.096 0.102
Fixed maturities | U.S. states, territories and municipalities | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fixed maturities, measurement input 0.035 0.043
Fixed maturities | Asset-backed securities | Significant unobservable inputs (Level 3) | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fixed maturities, at fair value $ 18,228 $ 17,596
Fixed maturities | Asset-backed securities | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fixed maturities, measurement input 0.047 0.067
Fixed maturities | Asset-backed securities | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fixed maturities, measurement input 0.047 0.067
Fixed maturities | Asset-backed securities | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fixed maturities, measurement input 0.047 0.067
Equities | Insurance | Significant unobservable inputs (Level 3) | Weighted market comparables    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equities, at fair value $ 9,403  
Equities | Insurance | Significant unobservable inputs (Level 3) | Weighted market comparables | Revenue multiple | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input 2.6  
Equities | Insurance | Significant unobservable inputs (Level 3) | Weighted market comparables | Revenue multiple | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input 2.6  
Equities | Insurance | Significant unobservable inputs (Level 3) | Weighted market comparables | Revenue multiple | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input 2.6  
Equities | Insurance | Significant unobservable inputs (Level 3) | Weighted market comparables | Adjusted earnings multiple | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input 7.7  
Equities | Insurance | Significant unobservable inputs (Level 3) | Weighted market comparables | Adjusted earnings multiple | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input 7.7  
Equities | Insurance | Significant unobservable inputs (Level 3) | Weighted market comparables | Adjusted earnings multiple | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input 7.7  
Equities | Insurance | Significant unobservable inputs (Level 3) | Weighted market comparables | Liquidity discount | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input 0.300  
Equities | Insurance | Significant unobservable inputs (Level 3) | Weighted market comparables | Liquidity discount | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input 0.300  
Equities | Insurance | Significant unobservable inputs (Level 3) | Weighted market comparables | Liquidity discount | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input 0.300  
Equities | Finance | Significant unobservable inputs (Level 3) | Lag reported market value    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equities, at fair value [1]   $ 13,710
Equities | Finance | Significant unobservable inputs (Level 3) | Lag reported market value | Transaction price | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input   12.0
Equities | Finance | Significant unobservable inputs (Level 3) | Lag reported market value | Transaction price | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input   12.0
Equities | Finance | Significant unobservable inputs (Level 3) | Lag reported market value | Transaction price | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input   12.0
Equities | Technology | Significant unobservable inputs (Level 3) | Reported market value    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equities, at fair value   $ 12,256
Equities | Technology | Significant unobservable inputs (Level 3) | Reported market value | Tangible book value multiple | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input   1
Equities | Technology | Significant unobservable inputs (Level 3) | Reported market value | Tangible book value multiple | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input   1
Equities | Technology | Significant unobservable inputs (Level 3) | Reported market value | Tangible book value multiple | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, measurement input   1
Other invested assets | Total return swaps | Significant unobservable inputs (Level 3) | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets carried at fair value $ (1,514) $ (1,535)
Other invested assets | Total return swaps | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivatives, measurement input 0.023 0.025
Other invested assets | Total return swaps | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivatives, measurement input 0.24 0.230
Other invested assets | Total return swaps | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivatives, measurement input 0.169 0.160
Other invested assets | Insurance-linked securities longevity swaps | Significant unobservable inputs (Level 3) | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets carried at fair value $ 2,728 $ 2,824
Other invested assets | Insurance-linked securities longevity swaps | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivatives, measurement input 0.019 0.026
Other invested assets | Insurance-linked securities longevity swaps | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivatives, measurement input 0.019 0.026
Other invested assets | Insurance-linked securities longevity swaps | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivatives, measurement input 0.019 0.026
Other invested assets | Insurance-linked securities pandemic swaps | Significant unobservable inputs (Level 3) | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets carried at fair value $ (1,871) $ (1,301)
Other invested assets | Insurance-linked securities pandemic swaps | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivatives, measurement input 0.562 0.273
Other invested assets | Insurance-linked securities pandemic swaps | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivatives, measurement input 0.562 0.273
Other invested assets | Insurance-linked securities pandemic swaps | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivatives, measurement input 0.562 0.273
Other invested assets | Insurance-Linked Securities Weather Index Swaps | Significant unobservable inputs (Level 3) | Proprietary option model    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets carried at fair value   $ (1,267)
Other invested assets | Insurance-Linked Securities Weather Index Swaps | Significant unobservable inputs (Level 3) | Proprietary option model | Index Value Temperature | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivatives, measurement input   80.7
Other invested assets | Insurance-Linked Securities Weather Index Swaps | Significant unobservable inputs (Level 3) | Proprietary option model | Index Value Temperature | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivatives, measurement input   3,293.8
Other invested assets | Insurance-Linked Securities Weather Index Swaps | Significant unobservable inputs (Level 3) | Proprietary option model | Index Value Temperature | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivatives, measurement input   175.3
Other invested assets | Notes and loan receivables | Significant unobservable inputs (Level 3) | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets carried at fair value $ 2,153 $ 2,660
Other invested assets | Notes and loan receivables | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 0.175 0.415
Other invested assets | Notes and loan receivables | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 0.175 0.419
Other invested assets | Notes and loan receivables | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 0.175 0.415
Other invested assets | Notes and loan receivables | Significant unobservable inputs (Level 3) | Discounted cash flow | Gross revenue/fair value | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 1.1  
Other invested assets | Notes and loan receivables | Significant unobservable inputs (Level 3) | Discounted cash flow | Gross revenue/fair value | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 1.1  
Other invested assets | Notes and loan receivables | Significant unobservable inputs (Level 3) | Discounted cash flow | Gross revenue/fair value | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 1.1  
Other invested assets | Notes and loans receivable | Significant unobservable inputs (Level 3) | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets carried at fair value   $ 2,688
Other invested assets | Notes and loans receivable | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   0.175
Other invested assets | Notes and loans receivable | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   0.175
Other invested assets | Notes and loans receivable | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   0.175
Other invested assets | Notes and loans receivable | Significant unobservable inputs (Level 3) | Discounted cash flow | Gross revenue/fair value | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   1.1
Other invested assets | Notes and loans receivable | Significant unobservable inputs (Level 3) | Discounted cash flow | Gross revenue/fair value | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   1.1
Other invested assets | Notes and loans receivable | Significant unobservable inputs (Level 3) | Discounted cash flow | Gross revenue/fair value | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   1.1
Other invested assets | Note securitization | Significant unobservable inputs (Level 3) | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets carried at fair value $ 932 $ 1,159
Other invested assets | Note securitization | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 0.012 0.008
Other invested assets | Note securitization | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 0.012 0.008
Other invested assets | Note securitization | Significant unobservable inputs (Level 3) | Discounted cash flow | Credit spreads | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 0.012 0.008
Other invested assets | Private equity-direct | Significant unobservable inputs (Level 3) | Weighted market comparables    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets carried at fair value   $ 1,889
Other invested assets | Private equity-direct | Significant unobservable inputs (Level 3) | Weighted market comparables | Revenue multiple | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   1.1
Other invested assets | Private equity-direct | Significant unobservable inputs (Level 3) | Weighted market comparables | Revenue multiple | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   1.1
Other invested assets | Private equity-direct | Significant unobservable inputs (Level 3) | Weighted market comparables | Revenue multiple | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   1.1
Other invested assets | Private equity-direct | Significant unobservable inputs (Level 3) | Weighted market comparables | Adjusted earnings multiple | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   9.8
Other invested assets | Private equity-direct | Significant unobservable inputs (Level 3) | Weighted market comparables | Adjusted earnings multiple | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   9.8
Other invested assets | Private equity-direct | Significant unobservable inputs (Level 3) | Weighted market comparables | Adjusted earnings multiple | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   9.8
Other invested assets | Private equity-direct | Significant unobservable inputs (Level 3) | Weighted market comparables | Liquidity discount | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   0.300
Other invested assets | Private equity-direct | Significant unobservable inputs (Level 3) | Weighted market comparables | Liquidity discount | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   0.300
Other invested assets | Private equity-direct | Significant unobservable inputs (Level 3) | Weighted market comparables | Liquidity discount | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   0.300
Other invested assets | Private equity funds | Significant unobservable inputs (Level 3) | Lag reported market value    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets carried at fair value $ 167,804  
Other invested assets | Private equity funds | Significant unobservable inputs (Level 3) | Lag reported market value | Net asset value, as reported | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 1  
Other invested assets | Private equity funds | Significant unobservable inputs (Level 3) | Lag reported market value | Net asset value, as reported | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 1  
Other invested assets | Private equity funds | Significant unobservable inputs (Level 3) | Lag reported market value | Net asset value, as reported | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 1  
Other invested assets | Private equity funds | Significant unobservable inputs (Level 3) | Lag reported market value | Market adjustments | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 0.019  
Other invested assets | Private equity funds | Significant unobservable inputs (Level 3) | Lag reported market value | Market adjustments | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 0.15  
Other invested assets | Private equity funds | Significant unobservable inputs (Level 3) | Lag reported market value | Market adjustments | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 0.097  
Other invested assets | Private equity funds | Significant unobservable inputs (Level 3) | Reported market value    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets carried at fair value   $ 14,438
Other invested assets | Private equity funds | Significant unobservable inputs (Level 3) | Reported market value | Net asset value, as reported | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   1.000
Other invested assets | Private equity funds | Significant unobservable inputs (Level 3) | Reported market value | Net asset value, as reported | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   1.000
Other invested assets | Private equity funds | Significant unobservable inputs (Level 3) | Reported market value | Net asset value, as reported | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   1.000
Other invested assets | Private equity funds | Significant unobservable inputs (Level 3) | Reported market value | Market adjustments | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   (0.065)
Other invested assets | Private equity funds | Significant unobservable inputs (Level 3) | Reported market value | Market adjustments | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   (0.065)
Other invested assets | Private equity funds | Significant unobservable inputs (Level 3) | Reported market value | Market adjustments | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input   (0.065)
Other invested assets | Private equity - other | Significant unobservable inputs (Level 3) | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets carried at fair value $ 15,800 $ 19,997
Other invested assets | Private equity - other | Significant unobservable inputs (Level 3) | Discounted cash flow | Effective yield | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 0.030 0.041
Other invested assets | Private equity - other | Significant unobservable inputs (Level 3) | Discounted cash flow | Effective yield | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 0.030 0.041
Other invested assets | Private equity - other | Significant unobservable inputs (Level 3) | Discounted cash flow | Effective yield | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Other invested assets, measurement input 0.030 0.041
[1] During 2018, the Company sold a portion of its investment and used the arm's length transaction price as an estimate of the fair value of the remaining holdings.