Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2014

Disclosure - Significant Accounting Policies [Abstract]

Basis of accounting

The Company's Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. The Condensed Consolidated Financial Statements include the accounts of the Company and its subsidiaries. Intercompany accounts and transactions have been eliminated.

Use Of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. While Management believes that the amounts included in the Condensed Consolidated Financial Statements reflect its best estimates and assumptions, actual results could differ from those estimates. The Company's principal estimates include:

•       Unpaid losses and loss expenses;

•       Policy benefits for life and annuity contracts;

•        Gross and net premiums written and net premiums earned;

•       Recoverability of deferred acquisition costs;

•       Recoverability of deferred tax assets;

•       Valuation of goodwill and intangible assets; and

•        Valuation of certain assets and derivative financial instruments that are measured using significant unobservable inputs.

Recent Accounting Pronouncements

3. Recent Accounting Pronouncements

In January 2014, the Financial Accounting Standards Board issued updated guidance on the accounting for investmentsin affordable housing projects that qualify for low-income housing tax creditsby entities that manage or invest in such projects. The update modifies the conditions that an entity must meet toelect the effective yield or proportional amortization method to account for such investments.The guidance is effective for interim and annual periods beginning after December 15, 2014, with early adoption permitted. The Company does not expect the adoption of this guidance to have a significant impact on its Consolidated Financial Statements or disclosures.