2.2.0.7 false Commitments and Contingencies 11001 - Disclosure - Commitments and Contingencies true false false false 1 USD false false Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit1 Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 5 Commitments and Contingencies 3 us-gaap_CommitmentsAndContingenciesDisclosureTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false verboselabel false 1 false false false false 0 0 <div> 10. Commitments and Contingencies (a) Concentration of Credit Risk The Company's investment portfolio is managed following prudent standards of diversification and a prudent investment philosophy. The Company is not exposed to any significant credit concentration risk on its investments, except for debt securities issued or guaranteed by the U.S. and other AAA rated sovereign governments. As of June 30, 2010, the Company's fixed maturity investments included $787 million, or 11.1% of the Company's total shareholders' equity, of AAA rated debt securities issued by the government of France. As of December 31, 2009, the Company's fixed maturity investments included $814 million, or 10.6% of the Company's total shareholders' equity, of AAA rated debt securities issued by the government of France. The Company keeps cash and cash equivalents in several banks and may keep up to $500 million, excluding custodial accounts, at any point in time in any one bank. See Note 19(a) to the Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2009 for a complete description of the Company's credit risks and the related credit risk management strategies and controls. (b) Employment Agreements In April 2010, as part of the Company's integration of PARIS RE (Paris Re), the Company announced a voluntary termination plan (voluntary plan) available to certain eligible employees in France. During the three months and six months ended June 30, 2010, the Company recorded charges of $33.8 million and $35.2 million, respectively, related to the voluntary plan within other operating expenses. Employees participating in the voluntary plan have no compulsory notice periods, however, their expected leaving dates are over the next 18 months. Participating employees will continue to receive salary and other employment benefits until they leave the Company. The continuing salary and other employment benefits costs related to participating employees will be expensed as the employee provides service and remains with the Company. (c) Legal Proceedings Legal proceedings at June 30, 2010 have not changed significantly since December 31, 2009. See Note 19(e) to the Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2009. </div> 10. Commitments and Contingencies (a) Concentration of Credit Risk The Company's investment portfolio is managed following prudent standards of false false false us-types:textBlockItemType textblock Includes disclosure of commitments and contingencies. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 14 -Paragraph 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 9, 10, 11, 12 false 1 1 false UnKnown UnKnown UnKnown false true