2.2.0.25falsefalse01110 - Disclosure - Shareholders' Equitytruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $FROM_Jan01_2010_TO_Dec31_2010http://www.sec.gov/CIK0000911421duration2010-01-01T00:00:002010-12-31T00:00:00SharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli0USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170PureStandardhttp://www.xbrl.org/2003/instancepurexbrli0EPSDividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0us-gaap_EquityAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseDisclosure - Shareholders' Equity [Abstract]3false0pre_ShareholdersEquityDisclosureTextBlockprefalsenadurationDisclosures related to shareholders' equity, including other comprehensive income. Includes (1) authorized share capital and...falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsefalse0012. Shareholders' Equity Authorized Shares At December 31, 2010 and 2009, the total authorized shares of the Company were 200 million shares, par value $1.00 per share, as follows (in millions of shares):<div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 496px; text-align:left;border-color:#000000;min-width:496px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;">2010</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;">2009</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 7px"><td style="width: 496px; text-align:left;border-color:#000000;min-width:496px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:80px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:80px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 496px; text-align:left;border-color:#000000;min-width:496px;">Designated common shares </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;">130.0</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;">130.0</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 496px; text-align:left;border-color:#000000;min-width:496px;">Designated 6.75% Series C cumulative redeemable preferred shares </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;">11.6</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;">11.6</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 496px; text-align:left;border-color:#000000;min-width:496px;">Designated 6.5% Series D cumulative redeemable preferred shares </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;">9.2</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;">9.2</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 496px; text-align:left;border-color:#000000;min-width:496px;">Designated and redeemed preference shares </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;">14.0</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;">14.0</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 496px; text-align:left;border-color:#000000;min-width:496px;">Undesignated </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;">35.2</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;">35.2</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 7px"><td style="width: 496px; text-align:left;border-color:#000000;min-width:496px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:80px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:80px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 496px; text-align:left;border-color:#000000;min-width:496px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;">200.0</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;">200.0</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr></table></div>Common Shares Share repurchasesDuring 2010, the Company repurchased, under its authorized share repurchase program, 14.0 million of its common shares at a total cost of $1,082.6 million, representing an average cost of $77.10 per share. At December 31, 2010, the Company had approximately 6.5 million common shares remaining under its current share repurchase authorization and approximately 14.0 million common shares were held in treasury and are available for reissuance (see Note 24).During 2009, no shares were repurchased. During 2008, the Company repurchased 1.5 million of its common shares pursuant to its repurchase program at a total cost of $110.0 million, representing an average cost of $71.79 per share.Share issuanceDuring 2010, the Company's remaining $200 million forward sale agreement matured. The Company did not deliver any common shares to the forward counterparty (see Note 19).During 2009, and pursuant to the acquisition of Paris Re, the Company issued 25.7 million common shares, of which 1.3 million common shares were reissued from treasury. During 2008, under a maturing forward sale agreement, the Company delivered 3.4 million common shares to the forward counterparty over a 40 day valuation period for total proceeds of $211.6 million. The value received per share was the average daily market price per share over the valuation period, subject to a minimum price per share of $59.37 (see Note 19).Series C Cumulative Preferred Shares In May 2003, the Company issued 11.6 million of 6.75% Series C cumulative redeemable preferred shares (Series C preferred shares) for a total consideration of $280.9 million after underwriting discounts and commissions totaling $9.1 million. The Company may redeem the Series C preferred shares at $25.00 per share plus accrued and unpaid dividends without interest. Dividends on the Series C preferred shares are cumulative from the date of issuance and are payable quarterly in arrears. In the event of liquidation of the Company, the holders of outstanding preferred shares would have preference over the common shareholders and would receive a distribution of $25.00 per share, or an aggregate value of $290 million, plus accrued and unpaid dividends. Series D Cumulative Preferred Shares In November 2004, the Company issued 9.2 million of 6.5% Series D cumulative redeemable preferred shares (Series D preferred shares) for a total consideration of $222.3 million after underwriting discounts and commissions totaling $7.7 million. The Company may redeem the Series D preferred shares at $25.00 per share plus accrued and unpaid dividends without interest. Dividends on the Series D preferred shares are cumulative from the date of issuance and are payable quarterly in arrears. In the event of liquidation of the Company, the holders of outstanding preferred shares would have preference over the common shareholders and would receive a distribution of $25.00 per share, or an aggregate value of $230 million, plus accrued and unpaid dividends. 12. Shareholders' Equity Authorized Shares At December 31, 2010 and 2009, the total authorized shares of the Company were 200 million shares, par valuefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclosures related to shareholders' equity, including other comprehensive income. Includes (1) authorized share capital and (2) descriptions for each class of stock.No authoritative reference available.falsefalseShareholders' Equity12Shareholders' EquityUnKnownUnKnownUnKnownUnKnownfalsetrue