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Net (Loss) Income Per Share
 12 Months Ended
Dec. 31, 2011
Disclosure - Net (Loss) Income Per Share [Abstract]  
Net (Loss) Income Per Share

13. Net (Loss) Income per Share

The reconciliation of basic and diluted net (loss) income per share for the years ended December 31, 2011, 2010 and 2009 is as follows (in thousands of U.S. dollars or shares, except per share amounts):

      For the year ended For the year ended For the year ended 
      December 31, December 31, December 31, 
      2011 2010 2009(1) 
Numerator:             
 Net (loss) income $(520,291)  $852,552  $1,536,854  
 Less: preferred dividends  (47,020)   (34,525)   (34,525)  
 Net (loss) income available to common shareholders $(567,311)  $818,027  $1,502,329  
                  
Denominator:             
 Weighted number of common shares outstanding - basic  67,558.7   76,839.5   62,786.2  
 Share options and other (2)  —     1,394.8    1,104.4  
 Weighted average number of common shares and             
  common share equivalents outstanding - diluted  67,558.7   78,234.3   63,890.6  
                  
Basic net (loss) income per share  $ (8.40)  $10.65  $ 23.93  
Diluted net (loss) income per share(2)  $ (8.40)  $10.46  $ 23.51  

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(1)       Net (loss) income and net (loss) income available to common shareholders include $4.3 million, and basic net income per share and diluted net income per share include $0.07 per share related to the noncontrolling interests' share of Paris Re's net income for the period from October 2, 2009 to December 7, 2009.

(2)       Dilutive securities, in the form of share options and other, of 687.3 thousand shares were not included in the weighted average number of common shares and common share equivalents outstanding for the purpose of computing the diluted net loss per share because to do so would have been anti-dilutive for the year ended December 31, 2011. In addition, at December 31, 2011, 2010 and 2009, share based awards to purchase 2,854.4 thousand, 489.7 thousand and 387.0 thousand common shares, respectively, were excluded from the calculation of diluted weighted average number of common shares and common share equivalents outstanding because their exercise prices were greater than the average market price of the common shares.