XML 41 R23.htm IDEA: XBRL DOCUMENT v2.4.0.6
Fair Value (Details - Level 3 inputs and transfers) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Dec. 31, 2011
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period $ 641,183,000 $ 549,240,000 $ 609,489,000 $ 500,286,000  
Realized and unrealized investment gains (losses) included in net (loss) income 19,226,000 (4,970,000) 40,801,000 (39,142,000)  
Purchases and issuances 175,131,000 72,837,000 309,105,000 255,805,000  
Sales and settlements 59,795,000 57,185,000 183,650,000 197,207,000  
Net transfers (out of)/ into Level 3 (6,800,000) 0 (6,800,000) 40,180,000  
Balance, end of period 768,945,000 559,922,000 768,945,000 559,922,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 14,691,000 (4,403,000) 28,624,000 6,391,000  
Fair value of financial instrument liabilities [Line Items]          
Debt related to senior notes 750,000,000   750,000,000   750,000,000
Debt related to capital efficient notes 70,989,000   70,989,000   70,989,000
[NotesIssuedByPartnerReFinanceALlcMember]
         
Fair value of financial instrument liabilities [Line Items]          
Face amount of debt instrument 250,000,000   250,000,000   250,000,000
[NotesIssuedByPartnerReFinanceBLlcMember]
         
Fair value of financial instrument liabilities [Line Items]          
Face amount of debt instrument 500,000,000   500,000,000   500,000,000
[NotesIssuedByPartnerReFinanceIiIncMember]
         
Fair value of financial instrument liabilities [Line Items]          
Face amount of debt instrument 63,000,000   63,000,000   63,000,000
[EstimateOfFairValueFairValueDisclosureMember]
         
Fair value of financial instrument liabilities [Line Items]          
Debt related to senior notes 866,128,000 [1]   866,128,000 [1]   781,449,000 [1]
Debt related to capital efficient notes 63,518,000 [2]   63,518,000 [2]   55,678,000 [2]
[CarryingReportedAmountFairValueDisclosureMember]
         
Fair value of financial instrument liabilities [Line Items]          
Debt related to senior notes 750,000,000 [1]   750,000,000 [1]   750,000,000 [1]
Debt related to capital efficient notes 63,384,000 [2]   63,384,000 [2]   63,384,000 [2]
[FixedMaturitiesMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 518,676,000 465,054,000 480,530,000 345,535,000  
Realized and unrealized investment gains (losses) included in net (loss) income 2,998,000 5,073,000 11,903,000 (18,530,000)  
Purchases and issuances 149,830,000 39,354,000 237,184,000 216,560,000  
Sales and settlements 24,938,000 58,870,000 83,051,000 133,134,000  
Net transfers (out of)/ into Level 3 0 0 0 40,180,000  
Balance, end of period 646,566,000 450,611,000 646,566,000 450,611,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 2,939,000 7,309,000 11,669,000 19,558,000  
[FixedMaturitiesMember] | [USStatesAndPoliticalSubdivisionsMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 117,235,000 86,782,000 111,415,000 55,124,000  
Realized and unrealized investment gains (losses) included in net (loss) income 1,618,000 2,100,000 2,900,000 3,724,000  
Purchases and issuances 90,050,000 0 94,750,000 30,064,000  
Sales and settlements 83,000 37,000 245,000 67,000  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 208,820,000 88,845,000 208,820,000 88,845,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 1,618,000 2,100,000 2,900,000 3,724,000  
[FixedMaturitiesMember] | [CorporateDebtSecuritiesMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 111,070,000 116,428,000 111,700,000 76,982,000  
Realized and unrealized investment gains (losses) included in net (loss) income 681,000 969,000 111,000 (36,097,000)  
Purchases and issuances 56,000 195,000 120,000 41,073,000  
Sales and settlements 3,250,000 5,545,000 3,374,000 10,091,000  
Net transfers (out of)/ into Level 3 0 0 0 40,180,000  
Balance, end of period 108,557,000 112,047,000 108,557,000 112,047,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 582,000 582,000 (2,000) 2,949,000  
[FixedMaturitiesMember] | [AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 290,371,000 261,843,000 257,415,000 213,139,000  
Realized and unrealized investment gains (losses) included in net (loss) income 699,000 2,005,000 8,892,000 12,683,000  
Purchases and issuances 59,724,000 39,159,000 142,314,000 140,803,000  
Sales and settlements 21,605,000 53,288,000 79,432,000 116,906,000  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 329,189,000 249,719,000 329,189,000 249,719,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 739,000 4,627,000 8,771,000 12,885,000  
[FixedMaturitiesMember] | [ResidentialMortgageBackedSecuritiesMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period       0  
Realized and unrealized investment gains (losses) included in net (loss) income       1,385,000  
Purchases and issuances       4,212,000  
Sales and settlements       5,597,000  
Net transfers (out of)/ into Level 3       0  
Balance, end of period   0   0  
Change in unrealized investment gains (losses) relating to assets held at the end of period       0  
[FixedMaturitiesMember] | [CommercialMortgageBackedSecuritiesMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period   1,000   290,000  
Realized and unrealized investment gains (losses) included in net (loss) income   (1,000)   (225,000)  
Purchases and issuances   0   408,000  
Sales and settlements   0   473,000  
Net transfers (out of)/ into Level 3   0   0  
Balance, end of period   0   0  
Change in unrealized investment gains (losses) relating to assets held at the end of period   0   0  
[ShortTermInvestmentsMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period   2,923,000   0  
Realized and unrealized investment gains (losses) included in net (loss) income   0   (1,069,000)  
Purchases and issuances   0   3,992,000  
Sales and settlements   2,923,000   2,923,000  
Net transfers (out of)/ into Level 3   0   0  
Balance, end of period   0   0  
Change in unrealized investment gains (losses) relating to assets held at the end of period   0   0  
[EquitySecuritiesMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 33,374,000 6,705,000 16,165,000 43,413,000  
Realized and unrealized investment gains (losses) included in net (loss) income 962,000 (39,000) 4,179,000 1,442,000  
Purchases and issuances 0 0 13,992,000 0  
Sales and settlements 0 0 0 38,189,000  
Net transfers (out of)/ into Level 3 (6,800,000) 0 (6,800,000) 0  
Balance, end of period 27,536,000 6,666,000 27,536,000 6,666,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 962,000 (39,000) 4,179,000 (408,000)  
[EquitySecuritiesMember] | [FinanceMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 19,422,000 163,000 9,670,000 2,486,000  
Realized and unrealized investment gains (losses) included in net (loss) income 750,000 (10,000) 3,702,000 229,000  
Purchases and issuances 0 0 6,800,000 0  
Sales and settlements 0 0 0 2,562,000  
Net transfers (out of)/ into Level 3 (6,800,000) 0 (6,800,000) 0  
Balance, end of period 13,372,000 153,000 13,372,000 153,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 750,000 (10,000) 3,702,000 3,000  
[EquitySecuritiesMember] | [MutualFundsAndExchangeTradedFundsMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 6,760,000 6,542,000 6,495,000 40,927,000  
Realized and unrealized investment gains (losses) included in net (loss) income 311,000 (29,000) 576,000 1,213,000  
Purchases and issuances 0 0 0 0  
Sales and settlements 0 0 0 35,627,000  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 7,071,000 6,513,000 7,071,000 6,513,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 311,000 (29,000) 576,000 (411,000)  
[EquitySecuritiesMember] | [TechnologyMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 7,192,000   0    
Realized and unrealized investment gains (losses) included in net (loss) income (99,000)   (99,000)    
Purchases and issuances 0   7,192,000    
Sales and settlements 0   0    
Net transfers (out of)/ into Level 3 0   0    
Balance, end of period 7,093,000   7,093,000    
Change in unrealized investment gains (losses) relating to assets held at the end of period (99,000)   (99,000)    
[OtherInvestedAssetsMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 73,736,000 52,483,000 97,027,000 78,324,000  
Realized and unrealized investment gains (losses) included in net (loss) income 12,798,000 (6,101,000) 22,621,000 (18,111,000)  
Purchases and issuances 25,301,000 33,483,000 57,929,000 35,253,000  
Sales and settlements 34,857,000 (4,608,000) 100,599,000 10,993,000  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 76,978,000 84,473,000 76,978,000 84,473,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 8,322,000 (8,698,000) 10,678,000 (10,695,000)  
[OtherInvestedAssetsMember] | [DerivativeMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 1,207,000 (21,535,000) 5,622,000 (7,954,000)  
Realized and unrealized investment gains (losses) included in net (loss) income 3,152,000 3,290,000 4,157,000 (5,513,000)  
Purchases and issuances 0 675,000 (5,420,000) [3] (4,103,000) [4]  
Sales and settlements 0 (10,000,000) [5] 0 (10,000,000) [4]  
Issuances     5,700,000 5,100,000  
Settlements   10,000,000   10,000,000  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 4,359,000 (7,570,000) 4,359,000 (7,570,000)  
Change in unrealized investment gains (losses) relating to assets held at the end of period 4,168,000 3,290,000 4,874,000 3,790,000  
[OtherInvestedAssetsMember] | [OtherInvestedAssetsOtherAssetsMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 72,529,000 74,018,000 91,405,000 86,278,000  
Realized and unrealized investment gains (losses) included in net (loss) income 9,646,000 (9,391,000) 18,464,000 (12,598,000)  
Purchases and issuances 25,301,000 32,808,000 63,349,000 39,356,000  
Sales and settlements 34,857,000 5,392,000 100,599,000 20,993,000  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 72,619,000 92,043,000 72,619,000 92,043,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 4,154,000 (11,988,000) 5,804,000 (14,485,000)  
[FundsHeldDirectlyManagedInvestmentMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 15,397,000 22,075,000 15,767,000 33,014,000  
Realized and unrealized investment gains (losses) included in net (loss) income 2,468,000 (3,903,000) 2,098,000 (2,874,000)  
Purchases and issuances 0 0 0 0  
Sales and settlements 0 0 0 11,968,000  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 17,865,000 18,172,000 17,865,000 18,172,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 2,468,000 (2,975,000) 2,098,000 (2,064,000)  
[FundsHeldDirectlyManagedInvestmentMember] | [OtherInvestedAssetsFundsHeldDirectlyManagedMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 15,076,000 21,720,000 15,433,000 20,528,000  
Realized and unrealized investment gains (losses) included in net (loss) income 2,460,000 (3,882,000) 2,103,000 (2,690,000)  
Purchases and issuances 0 0 0 0  
Sales and settlements 0 0 0 0  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 17,536,000 17,838,000 17,536,000 17,838,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 2,460,000 (2,954,000) 2,103,000 (2,030,000)  
[FundsHeldDirectlyManagedInvestmentMember] | [USStatesAndPoliticalSubdivisionsMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 321,000 355,000 334,000 368,000  
Realized and unrealized investment gains (losses) included in net (loss) income 8,000 (21,000) (5,000) (34,000)  
Purchases and issuances 0 0 0 0  
Sales and settlements 0 0 0 0  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 329,000 334,000 329,000 334,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 8,000 (21,000) (5,000) (34,000)  
[FundsHeldDirectlyManagedInvestmentMember] | [AssetBackedSecuritiesMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period       12,118,000  
Realized and unrealized investment gains (losses) included in net (loss) income       (150,000)  
Purchases and issuances       0  
Sales and settlements       11,968,000  
Net transfers (out of)/ into Level 3       0  
Balance, end of period   0   0  
Change in unrealized investment gains (losses) relating to assets held at the end of period       $ 0  
[1] PartnerRe Finance A LLC and PartnerRe Finance B LLC, the issuers of the Senior Notes, do not meet consolidation requirements under U.S. GAAP. Accordingly, the Company shows the related intercompany debt of $750 million in its Unaudited Condensed Consolidated Balance Sheets at September 30, 2012 and December 31, 2011.
[2] PartnerRe Finance II Inc., the issuer of the CENts, does not meet consolidation requirements under U.S. GAAP. Accordingly, the Company shows the related intercompany debt of $71 million in its Unaudited Condensed Consolidated Balance Sheets at September 30, 2012 and December 31, 2012.
[3]  (1) Purchases and issuances of derivatives includes issuances of $5.7 million.
[4] (1) Purchases and issuances of derivatives includes issuances of $5.1 million. Sales and settlements of derivatives includes settlements of $10.0 million.
[5]  (1) Sales and settlements of derivatives includes settlements of $10.0 million.