XML 32 R28.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value (Details - Level 3 inputs and transfers) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Dec. 31, 2012
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period $ 889,704,000 $ 641,183,000 $ 790,421,000 $ 609,489,000  
Realized and unrealized investment gains (losses) included in net income 18,098,000 19,226,000 (11,964,000) 40,801,000  
Purchases 150,473,000 175,131,000 344,357,000 309,105,000  
Settlements (70,993,000) (59,795,000) (135,532,000) (183,650,000)  
Net transfers (out of)/ into Level 3 0 (6,800,000) 0 (6,800,000)  
Balance, end of period 987,282,000 768,945,000 987,282,000 768,945,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 11,753,000 14,691,000 (12,850,000) 28,624,000  
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
[SeniorNotesDebtMember] | [NotesIssuedToPartnerReFinanceALlcMember]
         
Fair value of financial instrument liabilities [Line Items]          
Face amount of debt instrument 250,000,000   250,000,000   250,000,000
[SeniorNotesDebtMember] | [NotesIssuedToPartnerReFinanceBLlcMember]
         
Fair value of financial instrument liabilities [Line Items]          
Face amount of debt instrument 500,000,000   500,000,000   500,000,000
[SeniorNotesDebtMember] | [NotesIssuedToPartnerReFinanceIiIncMember]
         
Fair value of financial instrument liabilities [Line Items]          
Face amount of debt instrument 63,000,000   63,000,000   63,000,000
[EstimateOfFairValueFairValueDisclosureMember] | [FairValueInputsLevel2Member]
         
Fair value of financial instrument liabilities [Line Items]          
Debt related to senior notes 852,507,000 [1]   852,507,000 [1]   859,367,000 [1]
Debt related to capital efficient notes 61,853,000 [2]   61,853,000 [2]   66,990,000 [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 745,347,000 518,676,000 657,273,000 480,530,000  
Realized and unrealized investment gains (losses) included in net income 12,962,000 2,998,000 (6,226,000) 11,903,000  
Purchases 148,148,000 149,830,000 303,313,000 237,184,000  
Settlements (63,942,000) (24,938,000) (111,845,000) (83,051,000)  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 842,515,000 646,566,000 842,515,000 646,566,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 5,119,000 2,939,000 (13,886,000) 11,669,000  
[FixedMaturitiesMember] | [USStatesAndPoliticalSubdivisionsMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 219,163,000 117,235,000 233,235,000 111,415,000  
Realized and unrealized investment gains (losses) included in net income 8,431,000 1,618,000 (5,427,000) 2,900,000  
Purchases 61,706,000 90,050,000 61,706,000 94,750,000  
Settlements (165,000) (83,000) (379,000) (245,000)  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 289,135,000 208,820,000 289,135,000 208,820,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 8,431,000 1,618,000 (5,427,000) 2,900,000  
[FixedMaturitiesMember] | [CorporateDebtSecuritiesMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 99,896,000 111,070,000 100,904,000 111,700,000  
Realized and unrealized investment gains (losses) included in net income (269,000) 681,000 (1,277,000) 111,000  
Purchases 0 56,000 0 120,000  
Settlements 0 (3,250,000) 0 (3,374,000)  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 99,627,000 108,557,000 99,627,000 108,557,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period (269,000) 582,000 (1,277,000) (2,000)  
[FixedMaturitiesMember] | [AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 426,288,000 290,371,000 323,134,000 257,415,000  
Realized and unrealized investment gains (losses) included in net income 4,800,000 699,000 478,000 8,892,000  
Purchases 86,442,000 59,724,000 241,607,000 142,314,000  
Settlements (63,777,000) [3] (21,605,000) (111,466,000) (79,432,000)  
Sales (13,700,000)   (13,700,000)    
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 453,753,000 329,189,000 453,753,000 329,189,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period (3,043,000) 739,000 (7,182,000) 8,771,000  
[EquitySecuritiesMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 30,601,000 33,374,000 27,728,000 16,165,000  
Realized and unrealized investment gains (losses) included in net income 2,651,000 962,000 3,484,000 4,179,000  
Purchases 0 0 2,040,000 13,992,000  
Settlements 0 0 0 0  
Net transfers (out of)/ into Level 3 0 (6,800,000) 0 (6,800,000)  
Balance, end of period 33,252,000 27,536,000 33,252,000 27,536,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 2,651,000 962,000 3,484,000 4,179,000  
[EquitySecuritiesMember] | [FinanceMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 13,000,000 19,422,000 13,477,000 9,670,000  
Realized and unrealized investment gains (losses) included in net income 1,285,000 750,000 808,000 3,702,000  
Purchases 0 0 0 6,800,000  
Settlements 0 0 0 0  
Net transfers (out of)/ into Level 3 0 (6,800,000) 0 (6,800,000)  
Balance, end of period 14,285,000 13,372,000 14,285,000 13,372,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 1,285,000 750,000 808,000 3,702,000  
[EquitySecuritiesMember] | [TechnologyMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 8,012,000 7,192,000 6,987,000 0  
Realized and unrealized investment gains (losses) included in net income 1,138,000 (99,000) 2,163,000 (99,000)  
Purchases 0 0 0 7,192,000  
Settlements 0 0 0 0  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 9,150,000 7,093,000 9,150,000 7,093,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 1,138,000 (99,000) 2,163,000 (99,000)  
[EquitySecuritiesMember] | [CommunicationsMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 2,040,000   0    
Realized and unrealized investment gains (losses) included in net income 103,000   103,000    
Purchases 0   2,040,000    
Settlements 0   0    
Net transfers (out of)/ into Level 3 0   0    
Balance, end of period 2,143,000   2,143,000    
Change in unrealized investment gains (losses) relating to assets held at the end of period 103,000   103,000    
[EquitySecuritiesMember] | [MutualFundsAndExchangeTradedFundsMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 7,549,000 6,760,000 7,264,000 6,495,000  
Realized and unrealized investment gains (losses) included in net income 125,000 311,000 410,000 576,000  
Purchases 0 0 0 0  
Settlements 0 0 0 0  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 7,674,000 7,071,000 7,674,000 7,071,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 125,000 311,000 410,000 576,000  
[OtherInvestedAssetsMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 98,212,000 73,736,000 87,099,000 97,027,000  
Realized and unrealized investment gains (losses) included in net income 1,479,000 12,798,000 (7,522,000) 22,621,000  
Purchases 2,325,000 25,301,000 39,004,000 57,929,000  
Settlements (6,365,000) (34,857,000) (22,930,000) (100,599,000)  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 95,651,000 76,978,000 95,651,000 76,978,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 2,977,000 8,322,000 (1,812,000) 10,678,000  
[OtherInvestedAssetsMember] | [DerivativeMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 2,333,000 1,207,000 3,911,000 5,622,000  
Realized and unrealized investment gains (losses) included in net income (1,885,000) 3,152,000 (6,084,000) 4,157,000  
Purchases 0 0 121,000 [4] (5,420,000) [5]  
Settlements (1,395,000) [3] 0 1,105,000 0  
Sales (1,400,000)   (1,400,000)    
Issuances     800,000 5,700,000  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period (947,000) 4,359,000 (947,000) 4,359,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period (140,000) 4,168,000 (349,000) 4,874,000  
[OtherInvestedAssetsMember] | [OtherInvestedAssetsNotesAndLoanReceivablesAndNotesSecuritizationMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 44,224,000 44,304,000 34,902,000 63,565,000  
Realized and unrealized investment gains (losses) included in net income 3,250,000 3,473,000 1,867,000 9,944,000  
Purchases 1,248,000 1,209,000 14,598,000 36,834,000  
Settlements (941,000) (19,958,000) (3,586,000) (81,315,000)  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 47,781,000 29,028,000 47,781,000 29,028,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 3,250,000 1,654,000 1,867,000 2,402,000  
[OtherInvestedAssetsMember] | [OtherInvestedAssetsAnnuitiesAndResidualsMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 30,555,000 27,225,000 46,882,000 27,840,000  
Realized and unrealized investment gains (losses) included in net income 413,000 6,314,000 506,000 8,661,000  
Purchases 0 23,642,000 0 25,065,000  
Settlements (4,029,000) (14,899,000) (20,449,000) [6] (19,284,000)  
Sales     (6,300,000)    
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 26,939,000 42,282,000 26,939,000 42,282,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 166,000 2,641,000 481,000 3,543,000  
[OtherInvestedAssetsMember] | [PrivateEquitiesTotalMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 21,100,000 1,000,000 1,404,000 0  
Realized and unrealized investment gains (losses) included in net income (299,000) (141,000) (3,811,000) (141,000)  
Purchases 1,077,000 450,000 24,285,000 1,450,000  
Settlements 0 0 0 0  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 21,878,000 1,309,000 21,878,000 1,309,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period (299,000) (141,000) (3,811,000) (141,000)  
[FundsHeldDirectlyManagedInvestmentMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 15,544,000 15,397,000 18,321,000 15,767,000  
Realized and unrealized investment gains (losses) included in net income 1,006,000 2,468,000 (1,700,000) 2,098,000  
Purchases 0 0 0 0  
Settlements (686,000) 0 (757,000) 0  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 15,864,000 17,865,000 15,864,000 17,865,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 1,006,000 2,468,000 (636,000) 2,098,000  
[FundsHeldDirectlyManagedInvestmentMember] | [OtherInvestedAssetsFundsHeldDirectlyManagedMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 15,207,000 15,076,000 17,976,000 15,433,000  
Realized and unrealized investment gains (losses) included in net income 1,045,000 2,460,000 (1,653,000) 2,103,000  
Purchases 0 0 0 0  
Settlements (686,000) 0 (757,000) 0  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 15,566,000 17,536,000 15,566,000 17,536,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period 1,045,000 2,460,000 (589,000) 2,103,000  
[FundsHeldDirectlyManagedInvestmentMember] | [USStatesAndPoliticalSubdivisionsMember]
         
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]          
Balance, beginning of period 337,000 321,000 345,000 334,000  
Realized and unrealized investment gains (losses) included in net income (39,000) 8,000 (47,000) (5,000)  
Purchases 0 0 0 0  
Settlements 0 0 0 0  
Net transfers (out of)/ into Level 3 0 0 0 0  
Balance, end of period 298,000 329,000 298,000 329,000  
Change in unrealized investment gains (losses) relating to assets held at the end of period $ (39,000) $ 8,000 $ (47,000) $ (5,000)  
[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 Consolidated Balance Sheets at September 30, 2013 and December 31, 2012.
[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 Consolidated Balance Sheets at September 30, 2013 and December 31, 2012.
[3] Settlements and sales of asset-backed securities and derivatives include sales of $13.7 million and $1.4 million, respectively.
[4] Purchases and issuances of derivatives includes issuances of $0.8 million.
[5] Purchases and issuances of derivatives includes issuances of $5.7 million.
[6] Settlements and sales of asset-backed securities, derivatives and annuities and residuals include sales of $13.7 million, $1.4 million and $6.3 million, respectively.