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Document And Entity Information (USD $)
In Millions, except Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
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Dec. 31, 2011
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Feb. 15, 2012
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Jun. 30, 2011
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|
| Document And Entity Information | |||
| Entity Registrant Name | RENAISSANCERE HOLDINGS LTD | ||
| Trading Symbol | RNR | ||
| Entity Central Index Key | 0000913144 | ||
| Current Fiscal Year End Date | --12-31 | ||
| Entity Filer Category | Large Accelerated Filer | ||
| Document Type | 10-K | ||
| Document Period End Date | Dec. 31, 2011 | ||
| Document Fiscal Year Focus | 2011 | ||
| Document Fiscal Period Focus | FY | ||
| Amendment Flag | false | ||
| Entity Common Stock, Shares Outstanding | 51,499,959 | ||
| Entity Well-known Seasoned Issuer | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Current Reporting Status | Yes | ||
| Entity Public Float | $ 3,347.1 |
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- Definition
If the value is true, then the document as an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, POS AM and Other. No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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- Details
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| X | ||||||||||
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- Definition
Sum of the carrying amounts of all goodwill and intangible assets as of the balance sheet date, net of accumulated amortization and impairment charges. No definition available.
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| X | ||||||||||
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- Definition
Interest, dividends, rents, ancillary and other revenues earned but not yet received by the entity on its investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The aggregate value (measured at the lower of net carrying value or fair value less cost of disposal) for assets of a disposal group, including a component of the entity (discontinued operation), to be sold or that has been disposed of through sale, as of the financial statement date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
For an unclassified balance sheet, total of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net amount of deferred policy acquisition costs capitalized on contracts remaining in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The obligations arising from the sale, disposal, or planned sale in the near future (generally within one year) of a disposal group, including a component of the entity (discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of all notes and loans payable (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Other investments not otherwise specified in the taxonomy that will be realized in a short period of time, usually less than one year or the normal operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate amounts payable to broker-dealers and clearing organizations include amounts payable for securities failed to receive, certain deposits received for securities loaned, amounts payable to clearing organizations on open transactions, and floor-brokerage payables. In addition, the net receivable or payable arising from unsettled trades would be reflected in those captions. A broker-dealer that purchases securities, either for its own account or for a customer's account, but does not receive the securities on the settlement date records the amount of money representing the purchase price of the securities, including any accrued interest, as a liability to the selling broker-dealer. This liability is paid when the securities are received by the purchasing broker-dealer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The carrying amount as of the balance sheet date due the entity from (a) agents and insureds, (b) uncollected premiums and (c) others, net of the allowance for doubtful accounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The unexpired portion of premiums ceded on policies in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount receivable from securities failed to deliver, certain deposits for securities borrowed, open transactions, good faith and margin deposits, commissions and floor brokerage items. Also cash and securities [guarantee] on deposit with [commodities] clearing organizations and other entities which provide services necessary to operations of the Company. This item would include, for instance, cash and securities advanced as [refundable] collateral for securities borrowed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The carrying amount as of the balance sheet date of the known and estimated amounts owed to insurers under reinsurance treaties or other arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The known and estimated amount recoverable as of the balance sheet date from reinsurers for claims paid or incurred by the ceding insurer and associated claims settlement expenses, including estimated amounts for claims incurred but not reported, and policy benefits, net of any related valuation allowance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Debt securities that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for debt securities formerly categorized as available-for-sale or held-to-maturity which the entity held as of the date it opted to account for such securities at fair value. An enterprise may also categorize such a security as trading without the intent to sell it in the near term assuming the decision to categorize the security as trading occurred at acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total common and preferred stock (which is not mandatorily redeemable, redeemable at the option of the holder, or in any other way classified as liability) equity securities that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for equity securities formerly categorized as available-for-sale or held-to-maturity which the entity held as of the date it opted to account for such securities at fair value. An enterprise may also categorize such a security as trading without the intent to sell it in the near term assuming the decision to categorize the security as trading occurred at acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount of premiums written on insurance contracts that have not been earned as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Balance Sheets (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified |
Dec. 31, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Fixed maturity investments trading, Amortized cost | $ 4,265,929 | $ 3,859,442 |
| Fixed maturity investments available-for-sale, Amortized cost | $ 130,669 | $ 225,549 |
| Preference Shares, Par Value (In dollars per share) | $ 1 | $ 1 |
| Preference Shares, Shares issued (In shares) | 22,000,000 | 22,000,000 |
| Preference Shares, Shares outstanding (In shares) | 22,000,000 | 22,000,000 |
| Common Shares, Par Value (In dollars per share) | $ 1 | $ 1 |
| Common Shares, Shares issued (In shares) | 51,542,955 | 54,109,840 |
| Common Shares, Shares outstanding (In shares) | 51,542,955 | 54,109,840 |
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- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
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| X | ||||||||||
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
This item represents a parenthetical disclosure for the cost of securities classified as trading. No definition available.
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Consolidated Statements Of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
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Sep. 30, 2011
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Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
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Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
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Mar. 31, 2009
|
Dec. 31, 2011
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Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Revenues | ||||||||||||
| Gross premiums written | $ 42,970 | $ 139,938 | $ 641,563 | $ 610,505 | $ 31,201 | $ 111,543 | $ 506,540 | $ 516,011 | $ 1,434,976 | $ 1,165,295 | $ 1,228,881 | |
| Net premiums written (Note 7) | 29,193 | 103,010 | 427,995 | 452,575 | 30,165 | 82,307 | 329,334 | 407,159 | 1,012,773 | 848,965 | 838,333 | |
| (Increase) decrease in unearned premiums | 169,916 | 126,214 | (210,820) | (147,034) | 159,577 | 130,048 | (117,163) | (156,506) | (61,724) | 15,956 | 43,871 | |
| Net premiums earned (Note 7) | 199,109 | 229,224 | 217,175 | 305,541 | 189,742 | 212,355 | 212,171 | 250,653 | 951,049 | 864,921 | 882,204 | |
| Net investment income (Note 5) | 52,331 | (27,940) | 33,328 | 60,281 | 52,503 | 59,570 | 26,173 | 65,709 | 118,000 | 203,955 | 318,179 | |
| Net foreign exchange losses | (400) | (2,650) | (4,521) | 660 | (4,646) | (529) | (609) | (11,342) | (6,911) | (17,126) | (13,623) | |
| Equity in (losses) earnings of other ventures (Note 5) | (22,702) | 4,794 | 5,128 | (23,753) | (10,390) | (6,740) | 3,160 | 2,156 | (36,533) | (11,814) | 10,976 | |
| Other (loss) income | (43,648) | (2,015) | (5,167) | 50,145 | 26,032 | 25,021 | (3,742) | (6,191) | (685) | 41,120 | 1,798 | |
| Net realized and unrealized gains on investments (Note 5) | 23,920 | 16,983 | 34,979 | (5,214) | (66,149) | 92,342 | 70,051 | 48,200 | 70,668 | 144,444 | 93,679 | |
| Total other-than-temporary impairments | (132) | (498) | 0 | 0 | 0 | 0 | (798) | (33) | (630) | (831) | (26,968) | |
| Portion recognized in other comprehensive income, before taxes | 78 | 2 | 4,518 | |||||||||
| Net other-than-temporary impairments (Note 5) | (103) | (449) | 0 | 0 | 0 | 0 | (796) | (33) | (19,000) | (552) | (829) | (22,450) |
| Total revenues | 208,507 | 217,947 | 280,922 | 387,660 | 187,092 | 382,019 | 306,408 | 349,152 | 1,095,036 | 1,224,671 | 1,270,763 | |
| Expenses | ||||||||||||
| Net claims and claim expenses incurred (Notes 7 and 8) | 3,551 | 77,830 | 151,261 | 628,537 | (27,128) | 77,936 | (18,803) | 97,340 | 861,179 | 129,345 | (70,698) | |
| Acquisition expenses | 25,101 | 26,057 | 13,883 | 32,335 | 18,803 | 26,143 | 23,580 | 26,435 | 97,376 | 94,961 | 104,150 | |
| Operational expenses | 43,368 | 42,169 | 42,299 | 41,830 | 45,882 | 36,970 | 38,040 | 45,150 | 169,666 | 166,042 | 153,552 | |
| Corporate expenses | 8,607 | 3,582 | 4,011 | 2,064 | 4,744 | 5,590 | 4,493 | 5,309 | 18,264 | 20,136 | 12,658 | |
| Interest expense (Note 9) | 5,721 | 5,722 | 5,730 | 6,195 | 6,303 | 6,164 | 6,206 | 3,156 | 23,368 | 21,829 | 15,111 | |
| Total expenses | 86,348 | 155,360 | 217,184 | 710,961 | 48,604 | 152,803 | 53,516 | 177,390 | 1,169,853 | 432,313 | 214,773 | |
| (Loss) income from continuing operations before taxes | 122,159 | 62,587 | 63,738 | (323,301) | 138,488 | 229,216 | 252,892 | 171,762 | (74,817) | 792,358 | 1,055,990 | |
| Income tax benefit (expense) (Note 14) | (2,945) | 1,435 | 1,773 | 52 | (196) | 2,399 | 958 | 2,963 | 315 | 6,124 | (10,031) | |
| (Loss) income from continuing operations | 119,214 | 64,022 | 65,511 | (323,249) | 138,292 | 231,615 | 253,850 | 174,725 | (74,502) | 798,482 | 1,045,959 | |
| (Loss) income from discontinued operations (Note 3) | (3,305) | (965) | (10,094) | (1,526) | 11,108 | 21,234 | 18,881 | 11,447 | (15,890) | 62,670 | 6,700 | |
| Net (loss) income | 115,909 | 63,057 | 55,417 | (324,775) | 149,400 | 252,849 | 272,731 | 186,172 | (90,392) | 861,152 | 1,052,659 | |
| Net loss (income) attributable to noncontrolling interests (Note 10) | (25,388) | (5,044) | (21,903) | 85,492 | (16,432) | (37,524) | (51,915) | (10,550) | 33,157 | (116,421) | (171,501) | |
| Net (loss) income attributable to RenaissanceRe | 90,521 | 58,013 | 33,514 | (239,283) | 132,968 | 215,325 | 220,816 | 175,622 | (57,235) | 744,731 | 881,158 | |
| Dividends on preference shares (Note 11) | (8,750) | (8,750) | (8,750) | (8,750) | (10,393) | (10,575) | (10,575) | (10,575) | (35,000) | (42,118) | (42,300) | |
| Net (loss) income (attributable) available to RenaissanceRe common shareholders | $ 81,771 | $ 49,263 | $ 24,764 | $ (248,033) | $ 122,575 | $ 204,750 | $ 210,241 | $ 165,047 | $ (92,235) | $ 702,613 | $ 838,858 | |
| (Loss) income from continuing operations (attributable) available to RenaissanceRe common shareholders per common share - basic | $ 1.66 | $ 0.98 | $ 0.68 | $ (4.66) | $ 2.04 | $ 3.33 | $ 3.35 | $ 2.55 | $ (1.53) | $ 11.28 | $ 13.39 | |
| (Loss) income from discontinued operations (attributable) available to RenaissanceRe common shareholders per common share - basic | $ (0.07) | $ (0.02) | $ (0.20) | $ (0.03) | $ 0.21 | $ 0.40 | $ 0.34 | $ 0.20 | $ (0.31) | $ 1.14 | $ 0.11 | |
| Net (loss) income (attributable) available to RenaissanceRe common shareholders per common share - basic (Note 12) | $ 1.59 | $ 0.96 | $ 0.48 | $ (4.69) | $ 2.25 | $ 3.73 | $ 3.69 | $ 2.75 | $ (1.84) | $ 12.42 | $ 13.50 | |
| (Loss) income from continuing operations (attributable) available to RenaissanceRe common shareholders per common share - diluted | $ 1.64 | $ 0.97 | $ 0.68 | $ (4.66) | $ 2.02 | $ 3.31 | $ 3.32 | $ 2.54 | $ (1.53) | $ 11.18 | $ 13.29 | |
| (Loss) income from discontinued operations (attributable) available to RenaissanceRe common shareholders per common share - diluted | $ (0.06) | $ (0.02) | $ (0.20) | $ (0.03) | $ 0.21 | $ 0.39 | $ 0.34 | $ 0.19 | $ (0.31) | $ 1.13 | $ 0.11 | |
| Net (loss) income (attributable) available to RenaissanceRe common shareholders per common share - diluted (Note 12) | $ 1.58 | $ 0.95 | $ 0.48 | $ (4.69) | $ 2.23 | $ 3.70 | $ 3.66 | $ 2.73 | $ (1.84) | $ 12.31 | $ 13.40 | |
| Dividends per common share (Note 11) | $ 1.04 | $ 1.00 | $ 0.96 | |||||||||
| X | ||||||||||
|
- Definition
Change during the period in the unearned portion of gross premiums written (direct and assumed) and ceded premiums written. No definition available.
|
| X | ||||||||||
|
- Definition
Total consideration paid and payable by direct and assumed policyholders for insurance and reinsurance contracts sold by the entity during the period. This amount includes premium assumed from other insurers. No definition available.
|
| X | ||||||||||
|
- Definition
The total amount of expense recognized during the period for future policy benefits, claims and claims adjustment costs, and for selling, general and administrative costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred policy acquisition costs charged to expense in the period, generally in proportion to related revenue earned, estimated gross profits, or over the customer relationship or some other period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for preferred shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate foreign currency transaction gain (loss) (both realized and unrealized) included in determining net income for the reporting period. Excludes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. For certain enterprises, primarily banks, that are dealers in foreign exchange, foreign currency transaction gains (losses) may be disclosed as dealer gains (losses). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items before deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) derived from discontinued operations during the period, net of related tax effect, per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income or loss derived from discontinued operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total provision in the period for claims incurred and costs incurred in the claim settlement process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of net Income or Loss attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The income earned from investments in securities and property, equipment and other capital assets. It includes rent from property and equipment, dividends from shares in corporations, and interest from bonds, loans, mortgages, derivatives, commercial paper, bank accounts, certificates of deposits, treasuries, and other financial securities. It does not include realized gains and losses on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount by which the fair value of an investment in debt and equity securities categorized as Available-for-sale is less than the amortized cost basis or carrying amount of that investment at the balance sheet date and the decline in fair value is deemed to be other than temporary, before considering whether or not such amount is recognized in earnings or other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment (OTTI) loss on a debt security, categorized as Available-for-sale, related to factors other than credit losses when the entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis. This amount, which includes the portion attributable to the noncontrolling interest, if any, is a portion of the deduction from the total impairment losses of investments (before taxes) presented on the income statement; this amount is also referred to as the amount incurred by the reporting entity or the consolidated entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment losses on investments in debt and equity securities categorized as Available-for-sale which have been recognized in earnings during the period. Such impairment losses consist of other than temporary impairments (OTTI) on equity securities, credit losses on investments in debt securities, and when the entity intends to sell an impaired debt security or it is more likely than not that the entity will be required to sell the impaired debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Premiums earned on the income statement for all insurance and reinsurance contracts after subtracting any amounts ceded to another insurer and adding premiums assumed from other insurers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Premiums written for all insurance and reinsurance contracts, after adding premiums assumed from other insurers and subtracting any amounts ceded to another insurer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Par value of stock issued during the period as a result of any share-based compensation plan. No definition available.
|
| X | ||||||||||
|
- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for common shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for preferred shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Decrease in noncontrolling interest (for example, but not limited to, redeeming or purchasing the interests of noncontrolling shareholders, issuance of shares (interests) by the non-wholly owned subsidiary to the parent entity for other than cash, and a buyback of shares (interest) by the non-wholly owned subsidiary from the noncontrolling interests). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of net Income or Loss attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross appreciation or the gross loss in value of the total unsold securities, after tax, attributable to the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment (OTTI) loss on a debt security, categorized as Available-for-sale, related to factors other than credit losses when the entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis. This amount which is attributable to the parent, is a portion of the deduction from the total impairment losses of Investments (before taxes) presented on the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of the value of stock that has been repurchased and retired during the period. The excess of the purchase price over par value can be charged against retained earnings (once the excess is fully allocated to additional paid in capital). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Consolidated Statements Of Comprehensive (Loss) Income (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
||||||||
| Comprehensive (loss) income | ||||||||||
| Net (loss) income | $ (90,392) | $ 861,152 | $ 1,052,659 | |||||||
| Change in net unrealized gains on fixed maturity investments available for sale | (7,991) | (25,040) | 46,069 | |||||||
| Portion of other-than-temporary impairments recognized in other comprehensive income | (78) | (2) | (4,518) | |||||||
| Comprehensive (loss) income | (98,461) | 836,110 | 1,094,210 | |||||||
| Net loss (income) attributable to noncontrolling interests | 33,157 | (116,421) | (171,501) | |||||||
| Change in net unrealized gains on fixed maturity investments available for sale attributable to noncontrolling interests | 6 | 3,427 | 698 | |||||||
| Comprehensive loss (income) attributable to noncontrolling interests | 33,163 | (112,994) | (170,803) | |||||||
| Comprehensive (loss) income attributable to RenaissanceRe | (65,298) | 723,116 | 923,407 | |||||||
| Disclosure regarding net unrealized gains | ||||||||||
| Total realized and net unrealized holding gains on fixed maturity investments available for sale and net other-than-temporary impairments | (2,426) | 58,284 | 130,179 | |||||||
| Net realized gains on fixed maturity investments available for sale | (6,111) | [1] | (80,726) | [1] | (105,893) | [1] | ||||
| Net other-than-temporary impairments recognized in earnings | 552 | [2] | 829 | [2] | 22,481 | [2] | ||||
| Change in net unrealized gains on fixed maturity investments available for sale | $ (7,985) | $ (21,613) | $ 46,767 | |||||||
|
||||||||||
| X | ||||||||||
|
- Definition
Available-for-sale Securities, Net Realized Gain (Loss), Excluding Other than Temporary Impairments No definition available.
|
| X | ||||||||||
|
- Definition
Other Comprehensive Income (Loss), Adjustment For Realized And Unrealized Investment Gains Losses And Net Other Than Temporary Impairments, Portion Attributable to Parent. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment losses on investments in debt and equity securities categorized as Available-for-sale which have been recognized in earnings during the period including those attributable to discontinued operations. Such impairment losses consist of other than temporary impairments (OTTI) on equity securities, credit losses on investments in debt securities, and when the entity intends to sell an impaired debt security or it is more likely than not that the entity will be required to sell the impaired debt security before recovery of its amortized cost basis. No definition available.
|
| X | ||||||||||
|
- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to noncontrolling interests, if any. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of net income or loss for the period allocated to noncontrolling shareholders, unit holders, partners, or other equity holders in one or more of the entities consolidated into the reporting entity's financial statements other than those noncontrolling interests already defined within the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Gross appreciation or the gross loss in value of the total unsold securities, after tax, attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross appreciation or the gross loss in value of the total unsold securities, after tax, attributable to the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Appreciation or loss in value (before reclassification adjustment) of the total of unsold securities during the period being reported on, net of tax. Reclassification adjustments include: (1) the unrealized holding gain (loss), net of tax, at the date of the transfer for a debt security from the held-to-maturity category transferred into the available-for-sale category. Also includes the unrealized gain (loss) at the date of transfer for a debt security from the available-for-sale category transferred into the held-to-maturity category; (2) the unrealized gains (losses) realized upon the sale of securities, after tax; and (3) the unrealized gains (losses) realized upon the write-down of securities, after tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment (OTTI) loss on a debt security, categorized as Available-for-sale, related to factors other than credit losses when the entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis. This amount, which includes the portion attributable to the noncontrolling interest, if any, is a portion of the deduction from the total impairment losses of investments (before taxes) presented on the income statement; this amount is also referred to as the amount incurred by the reporting entity or the consolidated entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
||||||
| Net realized gains on fixed maturity investments available for sale | $ 6,111 | [1] | $ 80,726 | [1] | $ 105,893 | [1] | ||
| Net other-than-temporary impairments recognized in earnings | 552 | 829 | 22,450 | |||||
|
Segment, Discontinued Operations [Member]
|
||||||||
| Net realized gains on fixed maturity investments available for sale | 0 | 7,700 | 100 | |||||
| Net other-than-temporary impairments recognized in earnings | $ 0 | $ 0 | $ 31 | |||||
|
||||||||
| X | ||||||||||
|
- Definition
Available-for-sale Securities, Net Realized Gain (Loss), Excluding Other than Temporary Impairments No definition available.
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment losses on investments in debt and equity securities categorized as Available-for-sale which have been recognized in earnings during the period. Such impairment losses consist of other than temporary impairments (OTTI) on equity securities, credit losses on investments in debt securities, and when the entity intends to sell an impaired debt security or it is more likely than not that the entity will be required to sell the impaired debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Cash flows provided by operating activities | |||
| Net (loss) income | $ (90,392) | $ 861,152 | $ 1,052,659 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities | |||
| Amortization, accretion and depreciation | 42,298 | 59,719 | 9,213 |
| Equity in undistributed losses (earnings) of other ventures | 39,581 | 23,959 | (592) |
| Net realized and unrealized gains on investments | (70,668) | (151,213) | (93,162) |
| Net other-than-temporary impairments | 552 | 829 | 22,481 |
| Net unrealized gains included in net investment income | (22,683) | (57,540) | (88,545) |
| Net unrealized losses (gains) included in other (loss) income | 1,553 | (12,337) | (20,378) |
| Change in: | |||
| Premiums receivable | (149,798) | (23,215) | (24,197) |
| Prepaid reinsurance premiums | 2,121 | 14,030 | (3,833) |
| Reinsurance recoverable | (302,318) | 10,110 | 105,293 |
| Deferred acquisition costs | (8,073) | 10,479 | 20,034 |
| Reserve for claims and claim expenses | 734,511 | (169,974) | (458,606) |
| Unearned premiums | 61,472 | (46,023) | (63,586) |
| Reinsurance balances payable | (61,141) | (29,432) | 66,147 |
| Other | (11,082) | 4,176 | 65,961 |
| Net cash provided by operating activities | 165,933 | 494,720 | 588,889 |
| Cash flows provided by (used in) investing activities | |||
| Proceeds from sales and maturities of fixed maturity investments trading | 6,089,468 | 7,795,587 | 61,218 |
| Purchases of fixed maturity investments trading | (6,271,623) | (11,122,823) | (845,466) |
| Proceeds from sales and maturities of fixed maturity investments available for sale | 106,362 | 3,751,669 | 10,036,434 |
| Purchases of fixed maturity investments available for sale | (4,107) | (403,660) | (10,516,908) |
| Purchases of equity investments trading | (47,995) | 0 | 0 |
| Net sales (purchases) of short term investments | 103,148 | (26,752) | 1,170,037 |
| Net sales of other investments | 50,940 | 122,065 | 3,994 |
| Net purchases of investments in other ventures | (39,000) | (1,915) | (3,000) |
| Net sales (purchases) of other assets | 58,318 | (5,561) | (19,385) |
| Net proceeds from sale of discontinued operations held for sale | 269,520 | 0 | 0 |
| Net purchases of subsidiaries | 0 | 0 | (2,741) |
| Net cash provided by (used in) investing activities | 315,031 | 108,610 | (115,817) |
| Cash flows used in financing activities | |||
| Dividends paid - RenaissanceRe common shares | (53,460) | (55,936) | (59,740) |
| Dividends paid - preference shares | (35,000) | (42,118) | (42,300) |
| RenaissanceRe common share repurchases | (191,619) | (448,882) | (50,972) |
| Net (repayment) issuance of debt | (200,000) | 249,046 | (150,000) |
| Redemption of 7.30% Series B preference shares | 0 | (100,000) | 0 |
| Reverse repurchase agreement | 0 | 0 | (50,042) |
| Net third party DaVinciRe share repurchases | (62,157) | (136,702) | (132,718) |
| Third party investment in noncontrolling interest | 0 | 3,000 | 0 |
| Net cash used in financing activities | (542,236) | (531,592) | (485,772) |
| Effect of exchange rate changes on foreign currency cash | 518 | (1,003) | (1,276) |
| Net increase (decrease) in cash and cash equivalents | (60,754) | 70,735 | (13,976) |
| Net decrease in cash and cash equivalents of discontinued operations | 0 | 3,891 | 31,961 |
| Cash and cash equivalents, beginning of year | 277,738 | 203,112 | 185,127 |
| Cash and cash equivalents, end of year | $ 216,984 | $ 277,738 | $ 203,112 |
| X | ||||||||||
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- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain or loss of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain or loss which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period, including discontinued operations for the comparative period(s). Additionally, this item would include any gains or losses realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments of the subject investments, including discontinued operations for the comparative period(s). No definition available.
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| X | ||||||||||
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- Definition
Net other than temporary impairments including discontinued operations for the comparative period(s). No definition available.
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| X | ||||||||||
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- Definition
The net cash inflow (outflow) associated with the acquisition or disposal of other investments during the period. No definition available.
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| X | ||||||||||
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- Definition
The net amount paid (received) by the reporting entity through acquisition (sale/maturities) of short-term investments with an original maturity that is one year or less which qualify for treatment as an investing activity based on management's intention and intended by management to be liquidated, if necessary, within the current operating cycle. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the undistributed income (or loss) of equity method investments, net of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporations; such investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the balance sheet value of capitalized sales costs that are associated with acquiring a new insurance customers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in other assets used in operating activities less other operating liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets and liabilities, other noncurrent assets and liabilities, or a combination of other current and noncurrent assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The change in the premium receivable balance on the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The change in prepaid reinsurance premiums recorded on the balance sheet, which is needed to adjust net income to arrive at net cash flows provided by or used in operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the amount due to other insurance companies when the reporting entity has assumed a portion of the cedant's insurance risk which has resulted in insurance losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the amount of benefits the ceding insurer expects to recover on insurance policies ceded to other insurance entities as of the balance sheet date for all guaranteed benefit types. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Change during the period in the unearned portion of premiums written, excluding the portion amortized into income. Premiums written are initially booked as unearned premiums and are recognized as revenue over the known or estimated life of the policy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of the other adjustment made to the claims reserves during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
the increase (decrease) in cash associated with the entity's discontinued operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow to reacquire preferred stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow during the period for redemption of redeemable noncontrolling interests. No definition available.
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| X | ||||||||||
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- Definition
The cash outflow from the distribution of an entity's earnings in the form of dividends to common shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for the return on capital for preferred shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the purchase of or advances to an equity method investments, which are investments in joint ventures and entities in which the entity has an equity ownership interest normally of 20 to 50 percent and exercises significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the acquisition of or advances to an entity that is related to it but not strictly controlled (for example, an unconsolidated subsidiary, affiliate, and joint venture or equity method investment) or the acquisition of an additional interest in a subsidiary (controlled entity). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow to acquire securities classified as trading securities and held for investment purposes. Excludes payments for trading securities purchased and held principally for the purpose of selling them in the near term (thus held for only a short period of time). No definition available.
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| X | ||||||||||
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- Definition
The cash inflow associated with the amount received from the sale of a business segment or subsidiary or sale of an entity that is related to it but not strictly controlled during the period (for example, an unconsolidated subsidiary, affiliate, joint venture or equity method investment). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow contributed by noncontrolled interest that purchase additional shares or otherwise increase their ownership stake in a subsidiary of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash flow from purchases followed by sales of securities under terms of reverse repurchase agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow from sales and purchases of trading securities during the period. Trading securities are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the sale or maturity (principal being due) of securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the sale, maturities, repayments and calls of securities classified as trading securities and held for investment purposes. Excludes proceeds from trading securities purchased and held principally for the purpose of selling them in the near term (thus held for only a short period of time). No definition available.
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| X | ||||||||||
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increases or decreases in the market value of unsold securities whose gains or losses were included in earnings, and which, were not separately or otherwise categorized as trading, available-for-sale, or held-to-maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements Of Cash Flows (Parenthetical)
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12 Months Ended |
|---|---|
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Dec. 31, 2010
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| Consolidated Statements Of Cash Flows (Parenthetical) [Abstract] | |
| Series B preference shares, dividend rate | 7.30% |
| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The percentage rate used to calculate dividend payments on preferred stock. No definition available.
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|
Organization
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12 Months Ended | ||||||||||||||||||||
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Dec. 31, 2011
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||
| Organization | ORGANIZATION RenaissanceRe Holdings Ltd. (“RenaissanceRe”), was formed under the laws of Bermuda on June 7, 1993. Together with its wholly owned and majority-owned subsidiaries and DaVinciRe (as defined below), which are collectively referred to herein as the “Company”, RenaissanceRe provides reinsurance and insurance coverages and related services to a broad range of customers.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Significant Accounting Policies
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12 Months Ended |
|---|---|
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Dec. 31, 2011
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| Accounting Policies [Abstract] | |
| Significant Accounting Policies | SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) and include the accounts of RenaissanceRe and its wholly owned and majority-owned subsidiaries and DaVinciRe. All significant intercompany transactions and balances have been eliminated on consolidation. Except as discussed in “Note 3. Discontinued Operations,” and unless otherwise noted, the notes to the consolidated financial statements reflect the Company’s continuing operations. Certain prior year comparatives have been reclassified to conform to the current year presentation. USE OF ESTIMATES IN FINANCIAL STATEMENTS The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported and disclosed amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. The major estimates reflected in the Company’s consolidated financial statements include, but are not limited to, the reserve for claims and claim expenses, reinsurance recoverables, including allowances for reinsurance recoverables deemed uncollectible, estimates of written and earned premiums, fair value, including the fair value of investments, financial instruments and derivatives, impairment charges and the Company’s net deferred tax asset. DISCONTINUED OPERATIONS The results of operations of substantially all of the Company’s U.S.-based insurance operations sold to QBE are classified as held for sale and are reported as discontinued operations in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic Discontinued Operations. The consolidated financial statements and notes thereto are presented excluding the operations and cash flows of the discontinued operations from the continuing operations of the Company since the Company will not have any significant continuing involvement in the operations after the sale. The financial position and results of operations of discontinued operations are presented as single line items on the consolidated balance sheets and statements of operations, respectively. Certain prior year comparatives have been reclassified to conform to the current year presentation. PREMIUMS AND RELATED EXPENSES Premiums are recognized as income, net of any applicable reinsurance or retrocessional coverage purchased, over the terms of the related contracts and policies. Premiums written are based on contract and policy terms and include estimates based on information received from both insureds and ceding companies. Subsequent differences arising on such estimates are recorded in the period in which they are determined. Unearned premiums represents the portion of premiums written that relate to the unexpired terms of contracts and policies in force. Amounts are computed by pro-rata methods based on statistical data or reports received from ceding companies. Reinstatement premiums are estimated after the occurrence of a significant loss and are recorded in accordance with the contract terms based upon paid losses and case reserves. Reinstatement premiums are earned when written. Acquisition costs, consisting principally of commissions, brokerage and premium tax expenses incurred at the time a contract or policy is issued, are deferred and amortized over the period in which the related premiums are earned. Deferred policy acquisition costs are limited to their estimated realizable value based on the related unearned premiums. Anticipated claims and claim expenses, based on historical and current experience, and anticipated investment income related to those premiums are considered in determining the recoverability of deferred acquisition costs. CLAIMS AND CLAIM EXPENSES The reserve for claims and claim expenses includes estimates for unpaid claims and claim expenses on reported losses as well as an estimate of losses incurred but not reported. The reserve is based on individual claims, case reserves and other reserve estimates reported by insureds and ceding companies as well as management estimates of ultimate losses. Inherent in the estimates of ultimate losses are expected trends in claim severity and frequency and other factors which could vary significantly as claims are settled. Also, during the past few years, the Company has increased its specialty reinsurance business, but does not have the benefit of a significant amount of its own historical experience in certain of these lines of business. Accordingly, the setting and reserving for incurred losses in these lines of business could be subject to greater variability. Ultimate losses may vary materially from the amounts provided in the consolidated financial statements. These estimates are reviewed regularly and, as experience develops and new information becomes known, the reserves are adjusted as necessary. Such adjustments, if any, are reflected in the consolidated statements of operations in the period in which they become known and are accounted for as changes in estimates. REINSURANCE Amounts recoverable from reinsurers are estimated in a manner consistent with the claim liability associated with the reinsured policies. For multi-year retrospectively rated contracts, the Company accrues amounts (either assets or liabilities) that are due to or from assuming companies based on estimated contract experience. If the Company determines that adjustments to earlier estimates are appropriate, such adjustments are recorded in the period in which they are determined. Reinsurance recoverables on dual trigger reinsurance contracts require the Company to estimate its ultimate losses applicable to these contracts as well as estimate the ultimate amount of insured industry losses that will be reported by the applicable statistical reporting agency, as per the contract terms. Amounts recoverable from reinsurers are recorded net of a valuation allowance for estimated uncollectible recoveries. Assumed and ceded reinsurance contracts that lack a significant transfer of risk are treated as deposits. INVESTMENTS, CASH AND CASH EQUIVALENTS Fixed Maturity Investments Investments in fixed maturities are classified as available for sale or trading and are reported at fair value. Investment transactions are recorded on the trade date with balances pending settlement reflected in the balance sheet as a receivable for investments sold or a payable for investments purchased. Net investment income includes interest and dividend income together with amortization of market premiums and discounts and is net of investment management and custody fees. The amortization of premium and accretion of discount for fixed maturity securities is computed using the effective yield method. For mortgage-backed securities and other holdings for which there is prepayment risk, prepayment assumptions are evaluated quarterly and revised as necessary. Any adjustments required due to the change in effective yields and maturities are recognized on a prospective basis through yield adjustments. Fair values of investments are based on quoted market prices, or when such prices are not available, by reference to broker or underwriter bid indications and/or internal pricing valuation techniques. The net unrealized appreciation or depreciation on fixed maturity investments available for sale is included in accumulated other comprehensive income. The net unrealized appreciation or depreciation on fixed maturity investments trading is included in net realized and unrealized gains on investments in the consolidated statements of operations. Realized gains or losses on the sale of investments are determined on the basis of the first in first out cost method and, for fixed maturity investments available for sale, include adjustments to the cost basis of investments for declines in value that are considered to be other-than-temporary. Other-Than-Temporary Impairment Effective April 1, 2009 The Company recognizes other-than-temporary impairments in earnings for its impaired fixed maturity securities available for sale (i) for which the Company has the intent to sell the security or (ii) it is more likely than not that the Company will be required to sell the debt security before its anticipated recovery and (iii) for those securities which have a credit loss. In assessing whether a credit loss exists, the Company compares the present value of the cash flows expected to be collected from the security with the amortized cost basis of the security. In instances in which a determination is made that an impairment exists but the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security before the anticipated recovery of its remaining amortized cost basis, the impairment is separated into (i) the amount of the total impairment related to the credit loss and (ii) the amount of the total impairment related to all other factors. The amount of the total other-than-temporary impairment related to the credit loss is recognized in earnings. The amount of the total other-than-temporary impairment related to all other factors is recognized in other comprehensive income. In periods after the recognition of other-than-temporary impairments on the Company’s fixed maturity securities available for sale, the Company accounts for such securities as if they had been purchased on the measurement date of the other-than-temporary impairment at an amortized cost basis equal to the previous amortized cost basis less the other-than-temporary impairment recognized in earnings. For debt securities in which other-than-temporary impairments were recognized in earnings, the difference between the new amortized cost basis and the cash flows expected to be collected will be amortized into net investment income. Other-Than-Temporary Impairment Process Prior to April 1, 2009 Under the pre-existing guidance, which was in effect for the three months ended March 31, 2009, the Company assessed, on a quarterly basis, whether declines in the fair value of its fixed maturity investments available for sale represented impairments that were other-than-temporary based on several factors. The factors the Company considered in the assessment of a security included: (i) the time period during which there had been a significant decline below cost; (ii) the extent of the decline below cost; (iii) the Company’s intent and ability to hold the security; (iv) the potential for the security to recover in value; (v) an analysis of the financial condition of the issuer; and (vi) an analysis of the collateral structure and credit support of the security, if applicable. Where the Company determined that there was an other-than-temporary decline in the fair value of the security, the cost of the security was written down to its fair value and the unrealized loss at the time of determination was reflected in the Company’s consolidated statements of operations. Equity Investments, Classified as Trading Equity investments are accounted for at fair value in accordance with FASB ASC Topic Financial Instruments. Fair values are primarily priced by pricing services, reflecting the closing price quoted for the final trading day of the period. Net investment income includes dividend income and the net realized and unrealized appreciation or depreciation on equity investments is included in net realized and unrealized gains on investments in the consolidated statements of operations. Short Term Investments and Cash and Cash Equivalents Short term investments, which are managed as part of the Company’s investment portfolio and have a maturity of one year or less when purchased, are carried at amortized cost, which approximates fair value. The net unrealized appreciation or depreciation on short term investments is included in net realized and unrealized gains on investments in the consolidated statements of operations. Cash equivalents include money market instruments with a maturity of ninety days or less when purchased. Other Investments The Company accounts for its other investments at fair value in accordance with FASB ASC Topic Financial Instruments. The fair value of certain of the Company's fund investments, which principally include hedge funds, private equity funds, senior secured bank loan funds and non-U.S. fixed income funds, are recorded on its balance sheet in other investments, and is generally established on the basis of the net valuation criteria established by the managers of such investments, if applicable. The net valuation criteria established by the managers of such investments is established in accordance with the governing documents of such investments. Certain of the Company's fund managers, fund administrators, or both, are unable to provide final fund valuations as of the Company's current reporting date. The typical reporting lag experienced by the Company to receive a final net asset value report is one month for hedge funds, senior secured bank loan funds and non-U.S. fixed income funds and three months for private equity funds, although, in the past, in respect of certain of the Company's private equity funds, the Company has on occasion experienced delays of up to six months at year end, as the private equity funds typically complete their respective year-end audits before releasing their final net asset value statements. In circumstances where there is a reporting lag between the current period end reporting date and the reporting date of the latest fund valuation, the Company estimates the fair value of these funds by starting with the prior month or quarter-end fund valuations, adjusting these valuations for actual capital calls, redemptions or distributions, as well as the impact of changes in foreign currency exchange rates, and then estimating the return for the current period. In circumstances in which the Company estimates the return for the current period, all information available to the Company is utilized. This principally includes preliminary estimates reported to the Company by its fund managers, obtaining the valuation of underlying portfolio investments where such underlying investments are publicly traded and therefore have a readily observable price, using information that is available to the Company with respect to the underlying investments, reviewing various indices for similar investments or asset classes, as well as estimating returns based on the results of similar types of investments for which the Company has obtained reported results, or other valuation methods, where possible. Actual final fund valuations may differ, perhaps materially so, from the Company's estimates and these differences are recorded in the Company's statement of operations in the period in which they are reported to the Company as a change in estimate. Investments in Other Ventures Investments in which the Company has significant influence over the operating and financial policies of the investee are classified as investments in other ventures, under equity method, and are accounted for under the equity method of accounting. Under this method, the Company records its proportionate share of income or loss from such investments in its results for the period. Any decline in value of investments in other ventures, under equity method considered by management to be other-than-temporary is charged to income in the period in which it is determined. STOCK INCENTIVE COMPENSATION The Company is authorized to issue restricted stock awards and units, stock options and other equity-based awards to its employees and directors. The fair value of the compensation cost is measured at the grant date and expensed over the period for which the employee is required to provide services in exchange for the award. Forfeiture benefits are estimated on a quarterly basis and incorporated in the determination of stock-based compensation. DERIVATIVES The Company enters into derivative instruments such as futures, options, swaps, forward contracts and other derivative contracts in order to manage its foreign currency exposure, obtain exposure to a particular financial market, for yield enhancement, or for trading and speculation. The Company accounts for its derivatives in accordance with FASB ASC Topic Derivatives and Hedging, which requires all derivatives to be recorded at fair value on the Company’s balance sheet as either assets or liabilities, depending on their rights or obligations, with changes in fair value reflected in current earnings. The Company does not currently apply hedge accounting. The fair value of the Company’s derivatives are estimated by reference to quoted prices or broker quotes, where available, or in the absence of quoted prices or broker quotes, the use of industry or internal valuation models. FAIR VALUE The Company accounts for certain of its assets and liabilities at fair value in accordance with FASB ASC Topic Fair Value Measurements and Disclosures. The Company recognizes the change in unrealized gains and losses arising from changes in fair value in its statements of operations, with the exception of changes in unrealized gains and losses on its fixed maturity investments available for sale, which are recognized as a component of accumulated other comprehensive (loss) income in shareholders’ equity. BUSINESS COMBINATIONS, GOODWILL AND OTHER INTANGIBLE ASSETS The Company accounts for business combinations in accordance with FASB ASC Topic Business Combinations, and goodwill and other intangible assets that arise from business combinations in accordance with FASB ASC Topic Intangibles – Goodwill and Other. A purchase price that is in excess of the fair value of the net assets acquired arising from a business combination is recorded as goodwill, and is not amortized. Other intangible assets with a finite life are amortized over the estimated useful life of the asset. Other intangible assets with an indefinite useful life are not amortized. Goodwill and other indefinite life intangible assets are tested for impairment on an annual basis or more frequently if events or changes in circumstances indicate that the carrying amount may not be recoverable. Definite life intangible assets are reviewed for indicators of impairment on an annual basis or more frequently if events or changes in circumstances indicate that the carrying amount may not be recoverable, and tested for impairment if appropriate. For purposes of the annual impairment evaluation, goodwill is assigned to the applicable reporting unit of the acquired entities giving rise to the goodwill. Goodwill and other intangible assets recorded in connection with investments accounted for under the equity method, are recorded as “Investments in other ventures, under equity method” on the Company’s consolidated balance sheets. The Company has established September 30 as the date for performing its annual impairment tests. If goodwill or other intangible assets are impaired, they are written down to their estimated fair value with a corresponding expense reflected in the Company’s consolidated statements of operations. NONCONTROLLING INTERESTS The Company accounts for its noncontrolling interest in the shareholders’ equity section of the Company’s consolidated balance sheet in accordance with FASB ASC Topic Consolidations, and presents such noncontrolling shareholders' interest in the net assets of the subsidiary. Net income (loss) attributable to noncontrolling interests is presented separately in the Company’s consolidated statements of operations. In addition, the Company accounts for its redeemable noncontrolling interest in DaVinciRe in the mezzanine section of the Company’s consolidated balance sheet in accordance with Securities and Exchange Commission (“SEC”) guidance which is applicable to SEC registrants. The SEC guidance requires shares, not required to be accounted for in accordance with FASB ASC Topic Distinguishing Liabilities from Equity, and having redemption features that are not solely within the control of the issuer, to be classified outside of permanent equity in the mezzanine section of the balance sheet. Because the share classes related to the redeemable noncontrolling interest portion of DaVinciRe are not considered liabilities in accordance with FASB ASC Topic Distinguishing Liabilities from Equity and have redemption features that are not solely within the control of DaVinciRe, the redeemable noncontrolling interest in DaVinciRe is presented in the mezzanine section on the Company’s consolidated balance sheet in accordance with the SEC guidance noted above. The SEC guidance does not impact the accounting for redeemable noncontrolling interest on the consolidated statements of operations; therefore, the provisions of FASB ASC Topic Consolidation with respect to the consolidated statements of operations still apply. Refer to “Note 10. Noncontrolling Interests” for more information. VARIABLE INTEREST ENTITIES The Company accounts for variable interest entities (“VIE”) in accordance with FASB ASC Topic Consolidation, which requires the consolidation of all VIE’s by the primary beneficiary, that being the investor that has the power to direct the activities of the VIE and will absorb a majority of the VIE’s expected losses or residual returns. The Company determines whether it is the primary beneficiary of a VIE by performing an analysis that principally considers: (i) the VIE’s purpose and design, including the risks the VIE was designed to create and pass through to its variable interest holders; (ii) the VIE’s capital structure; (iii) the terms between the VIE and its variable interest holders and other parties involved with the VIE; (iv) which variable interest holders have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; (v) which variable interest holders have the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE; and (vi) related party relationships. The Company reassesses its initial evaluation of an entity as a VIE upon the occurrence of certain reconsideration events. The Company reassesses its determination of whether the Company is the primary beneficiary of a VIE upon changes in facts and circumstances that could potentially alter the Company’s assessment. Refer to “Note 10. Noncontrolling Interests” for additional information. EARNINGS PER SHARE The Company calculates earnings per share in accordance with FASB ASC Topic Earnings per Share. Basic earnings per share are based on weighted average common shares and exclude any dilutive effects of options and restricted stock. Diluted earnings per share assumes the exercise of all dilutive stock options and restricted stock grants. The two-class method is used to determine earnings per share based on dividends declared on common stock and participating securities (i.e. distributed earnings) and participation rights of participating securities in any undistributed earnings. Unvested restricted stock granted by the Company to its employees is considered a participating security and the Company uses the two-class method to calculate its net (loss) income (attributable) available to RenaissanceRe common shareholders per common share – basic and diluted. FOREIGN EXCHANGE The Company’s functional currency is the U.S. dollar. Revenues and expenses denominated in foreign currencies are translated at the prevailing exchange rate at the transaction date. Monetary assets and liabilities denominated in foreign currencies are translated at exchange rates in effect at the balance sheet date, which may result in the recognition of exchange gains or losses which are included in the determination of net (loss) income. TAXATION Income taxes have been provided in accordance with the provisions of FASB ASC Topic Income Taxes. Deferred tax assets and liabilities result from temporary differences between the amounts recorded in the consolidated financial statements and the tax basis of the Company’s assets and liabilities. Such temporary differences are primarily due to net operating loss carryforwards and GAAP versus tax basis accounting differences relating to accrued expenses, investments and tax sharing obligations. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance against deferred tax assets is recorded if it is more likely than not that all, or some portion, of the benefits related to deferred tax assets will not be realized. Uncertain tax positions are also accounted for in accordance with FASB ASC Topic Income Taxes. Uncertain tax positions must meet a more-likely-than-not recognition threshold to be recognized. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Accounting for Costs Associated with Acquiring or Renewing Insurance Contracts In October 2010, the FASB issued Accounting Standards Update (“ASU”) No. 2010-26, Accounting for Costs Associated with Acquiring or Renewing Insurance Contracts (“ASU 2010-26”), which amends FASB ASC Topic Financial Services - Insurance. ASU 2010-26 modifies the definition of the types of costs that can be capitalized in relation to the acquisition of new and renewal insurance contracts. The amended guidance requires costs to be incremental or directly related to the successful acquisition of new or renewal contracts in order to be capitalized as a deferred acquisition cost. Capitalized costs would include incremental direct costs, such as commissions paid to brokers. Additionally, the portion of employee salaries and benefits directly related to time spent for acquired contracts would be capitalized. Costs that fall outside the revised definition must be expensed when incurred. ASU 2010-26 will be effective for fiscal periods beginning on or after December 15, 2011 with prospective or retroactive application permitted. The Company is currently evaluating the potential impacts of the adoption of ASU 2010-26, but does not currently expect this standard to have a material impact on its consolidated statements of operations and financial condition. Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs In May 2011, the FASB issued ASU No. 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs (“ASU 2011-04”), which amends FASB ASC Topic Fair Value Measurement. ASU 2011-04 was issued to provide largely identical guidance about fair value measurement and disclosure requirements with the International Accounting Standards Board's new International Financial Reporting Standards (“IFRS”) 13, Fair Value Measurement. ASU 2011-04 does not extend the use of fair value but, rather, provides guidance about how fair value should be applied where it is already required or permitted under GAAP and requires enhanced disclosures covering all transfers between Levels 1 and 2 of the fair value hierarchy. Additional disclosures covering Level 3 assets are also required. ASU 2011-04 will be effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. Early adoption is not permitted. The Company is currently evaluating the potential impacts of the adoption of ASU 2011-04, but does not currently expect this standard to have a material impact on its consolidated statements of operations and financial condition. Presentation of Comprehensive Income In June 2011, the FASB issued ASU 2011-05, Presentation of Comprehensive Income (“ASU 2011-05”), which amends FASB ASC Topic Comprehensive Income. ASU 2011-05 increases the prominence of items reported in other comprehensive income and eliminates the option to present components of other comprehensive income as part of the statement of changes in shareholders' equity. ASU 2011-05 requires that all non-owner changes in shareholders' equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. ASU 2011-05 will be effective for fiscal years, and interim periods within those years, beginning after December 15, 2011, with retroactive application required. The Company is currently evaluating the potential impacts of the adoption of ASU 2011-05, but does not currently expect this standard to have a material impact on its consolidated statements of operations, consolidated statements of comprehensive (loss) income, or its financial condition. |
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The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Discontinued Operations
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Dec. 31, 2011
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| Discontinued Operation, Income (Loss) from Discontinued Operation Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Discontinued Operations | DISCONTINUED OPERATIONS U.S.-Based Insurance Operations On November 18, 2010, the Company entered into a Stock Purchase Agreement with QBE to sell substantially all of its U.S.-based insurance operations, including its U.S. property and casualty business underwritten through managing general agents, its crop insurance business underwritten through Agro National, its commercial property insurance operations and its claims operations. At December 31, 2010, the Company classified the assets and liabilities associated with this transaction as held for sale and the assets and liabilities were recorded at the lower of the carrying value or fair value less costs to sell. The financial results for these operations have been presented as discontinued operations in the Company's consolidated statements of operations for all periods presented. Consideration for the transaction was book value at December 31, 2010, for the aforementioned businesses, payable in cash at closing and subject to adjustment for certain tax and other items. The transaction closed on March 4, 2011 and net consideration of $269.5 million was received by the Company. Pursuant to the Stock Purchase Agreement, the Company is subject to a post-closing review following December 31, 2011 of the net reserve for claims and claim expenses for loss events occurring on or prior to December 31, 2010 (the “Reserve Collar”). Subsequent to the post-closing review, the Company is liable to pay, or otherwise reimburse QBE amounts up to $10.0 million for net adverse development on prior accident years net claims and claim expenses. Conversely, if prior accident years net claims and claim expenses experience net favorable development, QBE is liable to pay, or otherwise reimburse the Company amounts up to $10.0 million. During 2011, the Company recognized a $10.0 million liability and corresponding expense in liabilities of discontinued operations held for sale and (loss) income from discontinued operations, respectively, due to purported net adverse development on prior accident years net claims and claim expenses associated with the Reserve Collar. The $10.0 million represents the maximum amount payable under the Reserve Collar. The Company has reclassified the assets and liabilities of the discontinued operations to assets of discontinued operations and liabilities of discontinued operations, respectively, on its consolidated balance sheets. Details of the assets, liabilities and shareholder’s equity of discontinued operations held for sale at December 31, 2011 and 2010 are as follows:
The Company has reclassified the results of operations of the discontinued operations to (loss) income from discontinued operations in its consolidated statements of operations. Details of the (loss) income from discontinued operations for the years ended December 31, 2011, 2010 and 2009 are as follows:
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The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Other Intangible Assets
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Dec. 31, 2011
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS The following table shows an analysis of goodwill and other intangible assets for the years ended December 31, 2010 and 2011:
The following table shows an analysis of goodwill and other intangible assets included in investments in other ventures, under equity method for the years ended December 31, 2010 and 2011:
The gross carrying value and accumulated amortization by major category of other intangible assets is shown below:
The useful life of intangible assets with finite lives ranges from two to 25 years, with a weighted-average amortization period of 11 years. Expected amortization of the other intangible assets, including other intangible assets recorded in investments in other ventures, under equity method, is shown below:
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- Definition
The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investments
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Dec. 31, 2011
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| Investments | INVESTMENTS Fixed Maturity Investments Trading The following table summarizes the fair value of fixed maturity investments trading:
Fixed Maturity Investments Available For Sale The following table summarizes the amortized cost, fair value and related unrealized gains and losses and non-credit other-than-temporary impairments of fixed maturity investments available for sale:
Contractual maturities of fixed maturity investments are as follows. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
Equity Investments Trading The following table summarizes the fair value of equity investments trading:
Pledged Investments At December 31, 2011, $1,292.7 million of cash and investments at fair value were on deposit with, or in trust accounts for the benefit of various counterparties, including with respect to the Company's principal letter of credit facility. Of this amount, $403.4 million is on deposit with, or in trust accounts for the benefit of, U.S. state regulatory authorities. Net Investment Income, Net Realized and Unrealized Gains on Investments and Net Other-Than-Temporary Impairments The components of net investment income are as follows:
Net realized and unrealized gains on investments and net other-than-temporary impairments are as follows:
The following table provides an analysis of the length of time the Company’s fixed maturity investments available for sale in an unrealized loss have been in a continual unrealized loss position.
At December 31, 2011, the Company held 14 fixed maturity investments available for sale securities that were in an unrealized loss position for twelve months or greater. The Company does not intend to sell these securities and it is not more likely than not that the Company will be required to sell these securities before the anticipated recovery of the remaining amortized cost basis. The Company performed reviews of its fixed maturity investments available for sale for the year ended December 31, 2011 and 2010, respectively, in order to determine whether declines in the fair value below the amortized cost basis were considered other-than-temporary in accordance with the applicable guidance, as discussed below. Other-Than-Temporary Impairment Process Prior to April 1, 2009 Under the pre-existing guidance, which was in effect for the three months ended March 31, 2009, the Company assessed, on a quarterly basis, whether declines in the fair value of its fixed maturity investments available for sale represented impairments that were other-than-temporary based on several factors. The factors the Company considered in the assessment of a security included: (i) the time period during which there had been a significant decline below cost; (ii) the extent of the decline below cost; (iii) the Company’s intent and ability to hold the security; (iv) the potential for the security to recover in value; (v) an analysis of the financial condition of the issuer; and (vi) an analysis of the collateral structure and credit support of the security, if applicable. Where the Company determined that there was an other-than-temporary decline in the fair value of the security, the cost of the security was written down to its fair value and the unrealized loss at the time of determination was reflected in the Company’s consolidated statements of operations. For the three months ended March 31, 2009 the Company recorded other-than-temporary impairments of $19.0 million. Other-Than-Temporary Impairment Process Effective April 1, 2009 Pursuant to the guidance effective April 1, 2009, the Company revised its quarterly process for assessing whether declines in the fair value of its fixed maturity investments available for sale represent impairments that are other-than-temporary. The process now includes reviewing each fixed maturity investment available for sale that is impaired and determining: (i) if the Company has the intent to sell the debt security or (ii) if it is more likely than not that the Company will be required to sell the debt security before its anticipated recovery; and (iii) whether a credit loss exists, that is, where the Company expects that the present value of the cash flows expected to be collected from the security are less than the amortized cost basis of the security. In assessing the Company’s intent to sell securities, the Company’s procedures may include actions such as discussing planned sales with its third party investment managers, reviewing sales that have occurred shortly after the balance sheet date, and consideration of other qualitative factors that may be indicative of the Company’s intent to sell or hold the relevant securities. For the year ended December 31, 2011, the Company recognized $0.0 million other-than-temporary impairments due to the Company’s intent to sell these securities as of December 31, 2011 (2010 – $0.0 million, 2009 - $1.3 million). In assessing whether it is more likely than not that the Company will be required to sell a security before its anticipated recovery, the Company considers various factors including its future cash flow forecasts and requirements, legal and regulatory requirements, the level of its cash, cash equivalents, short term investments, fixed maturity investments trading and fixed maturity investments available for sale in an unrealized gain position, and other relevant factors. For the year ended December 31, 2011, the Company recognized $0.0 million of other-than-temporary impairments due to required sales (2010 – $0.0 million, 2009 - $0.0 million). In evaluating credit losses, the Company considers a variety of factors in the assessment of a security including: (i) the time period during which there has been a significant decline below cost; (ii) the extent of the decline below cost and par; (iii) the potential for the security to recover in value; (iv) an analysis of the financial condition of the issuer; (v) the rating of the issuer; (vi) the implied rating of the issuer based on an analysis of option adjusted spreads; (vii) the absolute level of the option adjusted spread for the issuer; and (viii) an analysis of the collateral structure and credit support of the security, if applicable. Once the Company determines that it is possible that a credit loss may exist for a security, the Company performs a detailed review of the cash flows expected to be collected from the issuer. The Company estimates expected cash flows by applying estimated default probabilities and recovery rates to the contractual cash flows of the issuer, with such default and recovery rates reflecting long-term historical averages adjusted to reflect current credit, economic and market conditions, giving due consideration to collateral and credit support, if applicable, and discounting the expected cash flows at the purchase yield on the security. In instances in which a determination is made that an impairment exists but the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security before the anticipated recovery of its remaining amortized cost basis, the impairment is separated into: (i) the amount of the total other-than-temporary impairment related to the credit loss; and (ii) the amount of the total other-than-temporary impairment related to all other factors. The amount of the other-than-temporary impairment related to the credit loss is recognized in earnings. The amount of the other-than-temporary impairment related to all other factors is recognized in other comprehensive income. For the year ended December 31, 2011, the Company recognized $0.6 million of other-than-temporary impairments which were recognized in earnings and $0.1 million, related to other factors which were recognized in other comprehensive income (2010 – $0.8 million and $2 thousand, respectively, 2009 – $22.5 million and $4.5 million, respectively). The following table provides a rollforward of the amount of other-than-temporary impairments related to credit losses recognized in earnings for which a portion of an other-than-temporary impairment was recognized in accumulated other comprehensive income for the year ended December 31, 2011 and 2010:
Other Investments The table below shows the fair value of the Company’s portfolio of other investments:
Interest income, income distributions and realized and unrealized gains and losses on other investments are included in net investment income and totaled $36.0 million (2010 – $103.7 million, 2009 – $163.6 million) of which $12.7 million was related to net unrealized gains (2010 – $57.5 million, 2009 – $88.5 million). Included in net investment income for the year ended December 31, 2011 is a loss of $1.4 million (2010 - income of $5.3 million, 2009 - loss of $10.7 million) representing the change in estimate during the period related to the difference between the Company's estimated net investment income due to the lag in reporting, as discussed in "Note 2. Significant Accounting Policies", and the actual amount as reported in the final net asset values provided by the Company's fund managers. The Company has committed capital to private equity partnerships and other entities of $684.0 million, of which $540.6 million has been contributed at December 31, 2011. The Company’s remaining commitments to these funds at December 31, 2011 totaled $144.6 million. In the future, the Company may enter into additional commitments in respect of private equity partnerships or individual portfolio company investment opportunities. Investments in Other Ventures, under Equity Method The table below shows the Company’s portfolio of investments in other ventures, under equity method:
On July 1, 2008, the Company invested $50.0 million in the Tower Hill Companies representing a 25.0% equity ownership. Included in the purchase price was $40.0 million of other intangibles and $7.8 million of goodwill, which, in accordance with generally accepted accounting principles, are recorded as “Investments in other ventures, under equity method” rather than “Goodwill and other intangibles” on the Company’s consolidated balance sheet. The Company originally invested $13.1 million and $10.0 million in Top Layer Re and Tower Hill, respectively, representing a 50.0% and 28.6% ownership, respectively. In December 2010, March 2011 and December 2011, primarily as a result of the September 2010, February 2011 New Zealand and Tohoku earthquakes, respectively, the Company invested an additional $13.8 million, $20.5 million and $18.0 million respectively, in Top Layer Re, maintaining the Company’s 50.0% ownership interest. The table below shows the Company’s equity in (losses) earnings of other ventures, under equity method:
Undistributed losses in the Company’s investments in other ventures, under equity method were $39.6 million at December 31, 2011. During 2011, the Company received $9.5 million of dividends from its investments in other ventures, under equity method (2010 – $17.9 million, 2009 – $16.4 million). During the third quarter of 2011, the Company sold its entire ownership interest in NBIC Holdings, Inc. (“NBIC”), a holding company for a specialty underwriter of homeowners' insurance products and services, for $12.0 million. Included in Other in the table above is equity in losses of NBIC of $2.8 million, which was accounted for under the equity method of accounting prior to its sale. As a result of the sale, the Company recorded a $4.8 million gain, included in other income. The equity in earnings of the Tower Hill Companies are reported one quarter in arrears. |
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Tabular disclosure of investments in certain debt and equity securities (and certain other trading assets) which include all debt and equity securities (other than those equity securities accounted for under the equity or cost methods of accounting) with readily determinable fair values. Other trading assets include assets that are carried on the balance sheet at fair value and held for trading purposes. A debt security represents a creditor relationship with an enterprise that is in the form of a security. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities (and other trading assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | FAIR VALUE MEASUREMENTS The use of fair value to measure certain assets and liabilities with resulting unrealized gains or losses is pervasive within the Company's financial statements. Fair value is defined under accounting guidance currently applicable to the Company to be the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between open market participants at the measurement date. The Company recognizes the change in unrealized gains and losses arising from changes in fair value in its consolidated statements of operations, with the exception of changes in unrealized gains and losses on its fixed maturity investments available for sale, which are recognized as a component of accumulated other comprehensive income in shareholders' equity. FASB ASC Topic Fair Value Measurements and Disclosures prescribes a fair value hierarchy that prioritizes the inputs to the respective valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement of the asset or liability. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and the Company considers factors specific to the asset or liability. In order to determine if a market is active or inactive for a security, the Company considers a number of factors, including, but not limited to, the spread between what a seller is asking for a security and what a buyer is bidding for the same security, the volume of trading activity for the security in question, the price of the security compared to its par value (for fixed maturity investments), and other factors that may be indicative of market activity. There have been no material changes in the Company's valuation techniques, nor have there been any transfers between Level 1 and Level 2, during the period represented by these consolidated financial statements. The Company transferred $6.6 million of so called “side pocket” investments which are not redeemable at the option of the shareholder to Level 3, from Level 2, at the end of the period. Below is a summary of the assets and liabilities that are measured at fair value on a recurring basis and also represents the carrying amount on the Company’s consolidated balance sheet at December 31, 2011 and 2010:
(1) See "Note 18. Derivative Instruments" for additional information related to the fair value by type of contract, of derivatives entered into by the Company.
(1) See "Note 18. Derivative Instruments" for additional information related to the fair value by type of contract, of derivatives entered into by the Company. Fixed Maturity Investments Fixed maturity investments included in Level 1 consist of the Company’s investments in U.S. treasuries. Fixed maturity investments included in Level 2 are agencies, non-U.S. government, FDIC guaranteed corporate, non-U.S. government-backed corporate, corporate, agency mortgage-backed, non-agency mortgage-backed, commercial mortgage-backed and asset-backed fixed maturity investments. The Company’s fixed maturity investments portfolios are priced using pricing services, such as index providers and pricing vendors, as well as broker quotations. In general, the pricing vendors provide pricing for a high volume of liquid securities that are actively traded. For securities that do not trade on an exchange, the pricing services generally utilize market data and other observable inputs in matrix pricing models to determine month end prices. Observable inputs include benchmark yields, reported trades, broker-dealer quotes, issuer spreads, bids, offers, reference data and industry and economic events. Index pricing generally relies on market traders as the primary source for pricing, however models are also utilized to provide prices for all index eligible securities. The models use a variety of observable inputs such as benchmark yields, transactional data, dealer runs, broker-dealer quotes and corporate actions. Prices are generally verified using third party data. Securities which are priced by an index provider, are generally included in the index. In general, broker-dealers value securities through their trading desks based on observable inputs. The methodologies include mapping securities based on trade data, bids or offers wanted, observed spreads, and performance on newly issued securities. Broker-dealers also determine valuations by observing secondary trading of similar securities. Prices are generally verified using third party data. Prices obtained from broker quotations are considered non-binding, however they are based on observable inputs and by observing secondary trading of similar securities obtained from active, non-distressed markets. The Company considers these Level 2 inputs as they are corroborated with other externally obtained information. The techniques generally used to determine the fair value of our fixed maturity investments are detailed below by asset class. U.S. treasuries At December 31, 2011, the Company’s U.S. treasuries fixed maturity investments had a weighted average effective yield of 0.6%, a weighted average credit quality of AA, and are primarily priced by pricing vendors. When pricing these securities, the pricing services utilize daily data from many real time market sources, including active broker dealers, as such, the Company considers its U.S. treasuries fixed maturity investments Level 1. All data sources are regularly reviewed for accuracy to ensure the most reliable price source is used for each issue and maturity date. Agencies At December 31, 2011, the Company’s agency fixed maturity investments had a weighted average effective yield of 0.5% and a weighted average credit quality of AA. The issuers of the Company’s agency fixed maturity investments primarily consist of the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation and other agencies. Fixed maturity investments included in agencies are primarily priced by pricing vendors. When evaluating these securities, the pricing services gather information from market sources and integrates other observations from markets and sector news. Evaluations are updated by obtaining broker dealer quotes and other market information including actual trade volumes, when available. The dollar value for each security is individually computed using analytical models which incorporate option adjusted spreads and other daily interest rate data. The Company considers its agency fixed maturity investments Level 2. Non-U.S. government (Sovereign debt) Non-U.S. government fixed maturity investments held by the Company at December 31, 2011, had a weighted average yield to maturity of 2.3% and a weighted average credit quality of AA. The issuers for securities in this sector are generally non-U.S. governments and their respective agencies as well as supranational organizations. Securities held in these sectors are primarily priced by pricing services who employ proprietary discounted cash flow models to value the securities. Key quantitative inputs for these models are daily observed benchmark curves for treasury, swap and high issuance credits. The pricing services then apply a credit spread for each security which is developed by in-depth and real time market analysis. For securities in which trade volume is low, the pricing services utilize data from more frequently traded securities with similar attributes. These models may also be supplemented by daily market and credit research for international markets. The Company considers its non-U.S. government fixed maturity investments Level 2. FDIC guaranteed corporate The Company’s FDIC guaranteed corporate fixed maturity investments had a weighted average effective yield of 0.3% and a weighted average credit quality of AA at December 31, 2011. The issuers consist of well known corporate issuers who participate in the FDIC program. The Company’s FDIC guaranteed corporate fixed maturity investments are primarily priced by pricing services. When evaluating these securities, the pricing services gather information from market sources regarding the issuer of the security, obtain credit data, as well as other observations from markets and sector news. Evaluations are updated by obtaining broker dealer quotes and other market information including actual trade volumes, when available. The pricing services also consider the specific terms and conditions of the securities, including any specific features which may influence risk. Each security is individually evaluated using a spread model which is added to the U.S. treasury curve. The Company considers its FDIC guaranteed corporate fixed maturity investments Level 2. Non-U.S. government-backed corporate Non-U.S. government-backed corporate fixed maturity investments are considered Level 2 by the Company and had a weighted average effective yield of 1.4% and a weighted average credit quality of AAA at December 31, 2011. Non-U.S. government-backed fixed maturity investments are primarily priced by pricing services who employ proprietary discounted cash flow models to value the securities. Key quantitative inputs for these models are daily observed benchmark curves for treasury, swap and high issuance credits. The pricing services then apply a credit spread for each security which is developed by in-depth and real time market analysis. For securities in which trade volume is low, the pricing services utilize data from more frequently traded securities with similar attributes. These models may also be supplemented by daily market and credit research for international markets. Corporate At December 31, 2011, the Company’s corporate fixed maturity investments had a weighted average effective yield of 4.2% and a weighted average credit quality of A, and principally consist of U.S. and international corporations. The Company’s corporate fixed maturity investments are primarily priced by pricing services, and are considered Level 2 by the Company. When evaluating these securities, the pricing services gather information from market sources regarding the issuer of the security, obtains credit data, as well as other observations from markets and sector news. Evaluations are updated by obtaining broker dealer quotes and other market information including actual trade volumes, when available. The pricing services also consider the specific terms and conditions of the securities, including any specific features which may influence risk. Each security is individually evaluated using a spread model which is added to the U.S. treasury curve or a security specific swap curve as appropriate. The fair value of certain corporate fixed maturity investments are valued using internally developed models and are considered Level 3 by the Company. The internally developed models use a combination of quantitative and qualitative factors, which may include, but are not limited to, discounted cash flow analysis, financial statement analysis, budgets and forecasts, capital transactions and third party valuations. Agency mortgage-backed At December 31, 2011, the Company’s agency mortgage-backed fixed maturity investments included agency residential mortgage-backed securities with a weighted average effective yield of 1.5%, a weighted average credit quality of AA and a weighted average life of 2.6 years. The Company’s agency mortgage-backed fixed maturity investments are primarily priced by pricing services using a mortgage pool specific model which utilizes daily inputs from the active and the to be announced ("TBA") market which is very liquid, as well as the U.S. treasury market. The model also utilizes additional information, such as the weighted average maturity, weighted average coupon and other available pool level data which is provided by the sponsoring agency. Valuations are also corroborated with daily active market quotes. The Company considers its agency mortgage-backed fixed maturity investments Level 2. Non-agency mortgage-backed The Company’s non-agency mortgage-backed fixed maturity investments include non-agency prime residential mortgage-backed and non-agency Alt-A fixed maturity investments, and the Company considers these fixed maturity investments Level 2. The Company has no fixed maturity investments classified as sub-prime held in its fixed maturity investments portfolio. At December 31, 2011, the Company’s non-agency prime residential mortgage-backed fixed maturity investments have a weighted average effective yield of 8.0%, a weighted average credit quality of BBB, and a weighted average life of 3.3 years. The Company’s non-agency Alt-A fixed maturity investments held at December 31, 2011 have a weighted average effective yield of 9.1%, a weighted average credit quality of A, a weighted average life of 3.8 years, and are from vintage years 2006 and prior. Securities held in these sectors are primarily priced by pricing services using an option adjusted spread (”OAS”) model or other relevant models, which principally utilize inputs including benchmark yields, available trade information or broker quotes, and issuer spreads. The pricing services also review collateral prepayment speeds, loss severity and delinquencies among other collateral performance indicators for the securities valuation, when applicable. Commercial mortgage-backed The Company’s commercial mortgage-backed fixed maturity investments held at December 31, 2011 have a weighted average effective yield of 3.2%, a weighted average credit quality of AA, and a weighted average life of 4.2 years. Securities held in these sectors are primarily priced by pricing services and are considered Level 2 by the Company. The pricing services apply dealer quotes and other available trade information such as bid and offers, prepayment speeds which may be adjusted for the underlying collateral or current price data, the U.S. treasury curve and swap curve as well as cash settlement. The model utilizes a single cash flow stream and computes both a yield to call and weighted average effective yield. The model generates a derived price for the bond by applying the most likely scenario. Asset-backed At December 31, 2011, the Company’s asset-backed fixed maturity investments had a weighted average effective yield of 0.9%, a weighted average credit quality of AAA and a weighted average life of 1.8 years. The underlying collateral for the Company’s asset-backed fixed maturity investments primarily consists of student loans, credit card receivables and other receivables. Securities held in these sectors are primarily priced by pricing services and are considered Level 2 by the Company. The pricing services apply dealer quotes and other available trade information such as bids and offers, prepayment speeds which may be adjusted for the underlying collateral or current price data, the U.S. treasury curve and swap curve as well as cash settlement. The model utilizes a single cash flow stream and computes both a yield to call and weighted average effective yield. The model generates a derived price for the bond by applying the most likely scenario. Short term investments Short term investments are considered Level 2 and fair values are generally determined using amortized cost which approximates fair value and, in certain cases, in a manner similar to the Company’s fixed maturity investments noted above. Equity investments, classified as trading Equity investments are considered Level 1 by the Company and fair values are primarily priced by pricing services, reflecting the closing price quoted for the final trading day of the period. When pricing these securities, the pricing services utilize daily data from many real time market sources, including active broker dealers and applicable securities exchanges. All data sources are regularly reviewed for accuracy to ensure the most reliable price source is used for each issue. Other investments Private equity partnerships Included in the Company’s investments in private equity partnerships at December 31, 2011 are alternative asset limited partnerships (or similar corporate structures) that invest in certain private equity asset classes including U.S. and global leveraged buyouts; mezzanine investments; distressed securities; real estate; and oil, gas and power. The fair value of private equity partnership investments is based on net asset values obtained from the investment manager or general partner of the respective entity. The type of underlying investments held by the investee which form the basis of the net asset valuation include assets such as private business ventures, for which the Company does not have access to financial information, and as a result is unable to corroborate the fair value measurement and therefore requires significant management judgment to determine the underlying value of the private equity partnership and accordingly the fair value of the Company’s investment in each private equity partnership is considered Level 3. The Company also considers factors such as recent financial information, the value of capital transactions with the partnership and management’s judgment regarding whether any adjustments should be made to the net asset value. The Company regularly reviews the performance of its private equity partnerships directly with the fund managers. Senior secured bank loan funds At December 31, 2011, the Company’s investments in senior secured bank loan funds include funds that invest primarily in bank loans and other senior debt instruments. The fair value of the Company’s senior secured bank loan funds are estimated using the net asset value per share of the funds. Investments of $237.8 million are redeemable, in part on a monthly basis, or in whole over a three month period. These investments are valued at the net asset value of the fund and are considered Level 2. The Company also has a $20.1 million investment in a closed end fund which invests primarily in loans. The Company has no right to redeem its investment in this fund. The Company’s investment in this fund is valued using monthly net asset valuations received from the investment manager. The lock up provisions in this fund result in a lack of current observable market transactions between the fund participants and the fund, and therefore, the Company considers the fair value of its investment in this fund to be determined using Level 3 inputs. Catastrophe bonds The Company's other investments include investments in catastrophe bonds which are recorded at fair value. The fair value of the Company's investments in catastrophe bonds considered Level 2 are based on quoted market prices, or when such prices are not available, by reference to broker or underwriter bid indications. Non-U.S. fixed income funds The Company considers its investments in non-U.S. fixed income funds Level 2. The Company’s non-U.S. fixed income funds invest primarily in non-U.S. convertible securities. The fair values of the investments in this category have been estimated using the net asset value per share of the investments which are provided by third parties such as the relevant investment manager or administrator, recent financial information issued by the applicable investee entity or available market data. Hedge funds The Company has investments in hedge funds that pursue multiple strategies. The fair values of the Company’s hedge funds have been estimated using the net asset value per share of the investments which are provided by third parties such as the relevant investment manager or administrator, recent financial information issued by the applicable investee entity or available market data to estimate fair value. The Company considers its hedge fund investments Level 2. However, in certain instances, a portion of the Company's hedge fund investment may be invested in so called "side pockets" or illiquid investments. In these instances, the Company has generally lost its ability to redeem its interest, and as such, the Company classifies this portion of its investment as Level 3. Other secured assets Other secured assets represented contractual rights under a purchase agreement, contingent purchase agreement and credit derivatives agreement with a major bank to sell certain securities within the Company’s catastrophe-linked securities portfolio. The Company’s other secured assets were accounted for at fair value based on quoted market prices, or when such prices are not available, by reference to broker or underwriter bid indications. As such, the Company considered its other secured assets Level 2. Other assets and liabilities Included in other assets and liabilities measured at fair value at December 31, 2011 are certain derivative-based risk management products primarily to address weather and energy risks, and hedging and trading activities related to these risks. The trading markets for these derivatives are generally linked to energy and agriculture commodities, weather and other natural phenomena and the fair value of these contracts is obtained through the use of exchange traded market prices, or in the absence of such market prices, industry or internal valuation models, as such, these products are considered Level 1 and Level 3, respectively. The Company considers assumed and ceded insurance contracts accounted for at fair value as Level 3, as the fair value of these contracts is obtained through the use of internal valuation models with the inputs to the internal valuation model based on proprietary data as observable market inputs are not available. In addition, other assets and liabilities include certain other derivatives entered into by the Company; the fair value of these transactions include the fair value of certain exchange traded foreign currency forward contracts which are considered Level 1, and the fair value of certain credit derivatives, determined using industry valuation models and considered Level 2, as the inputs to the valuation model are based on observable market inputs. Below is a reconciliation of the beginning and ending balances, for the periods shown, of assets and liabilities measured at fair value on a recurring basis using Level 3 inputs. Interest and dividend income are included in net investment income and are excluded from the reconciliation.
Senior Notes In January 2003, RenaissanceRe issued $100.0 million, which represents the carrying amount on the Company’s consolidated balance sheet, of 5.875% Senior Notes due February 15, 2013, with interest on the notes payable on February 15 and August 15 of each year. At December 31, 2011, the fair value of the 5.875% Senior Notes was $103.4 million (2010 – $105.9 million). In March 2010, RenRe North America Holdings Inc. (“RRNAH”) issued $250.0 million of 5.75% Senior Notes due March 15, 2020, with interest on the notes payable on March 15 and September 15 of each year. At December 31, 2011, the fair value of the 5.75% Senior Notes was $263.0 million (2010 - $252.4 million). The fair value of RenaissanceRe’s 5.875% Senior Notes and RRNAH’s 5.75% Senior Notes is determined using indicative market pricing obtained from third-party service providers. The Fair Value Option for Financial Assets and Financial Liabilities The Company has elected to account for certain assets and liabilities at fair value under FASB ASC Topic Financial Instruments. The Company has elected to use the guidance under FASB ASC Topic Financial Instruments, as the Company believes it represents the most meaningful measurement basis for these assets and liabilities. Below is a summary of the balances the Company has elected to account for at fair value:
Included in net investment income for 2011 was $12.7 million of net unrealized gains related to the changes in fair value of other investments (2010 – $57.5 million, 2009 – $88.5 million). Net unrealized losses related to the changes in the fair value of other secured assets recorded in other (loss) income was $0.1 million for 2011 (2010 – unrealized gains of $41 thousand, 2009 – unrealized gains of $1.4 million). Net unrealized losses related to the changes in the fair value of other assets and liabilities recorded in other (loss) income was $2.8 million for 2011 (2010 – $2.2 million, 2009 – $0.8 million). Reinsurance Contracts Accounted for at Fair Value The Company assumes and cedes certain reinsurance contracts that are accounted for at fair value under the fair value option. As noted above, the Company has elected to use the guidance under FASB ASC Topic Financial Instruments to account for certain assets and liabilities as it believes it represents the most meaningful measurement basis for these assets and liabilities. The fair value of these contracts is obtained through the use of internal valuation models. These contracts are recorded on the Company’s balance sheet in other assets and other liabilities and totaled $2.1 million and $0.0 million at December 31, 2011, respectively (2010 – $1.8 million and $0.0 million, respectively). During 2011, the Company recorded income of $37.6 million (2010 – losses of $2.9 million, 2009 – losses of $31.9 million) which are included in other income and represent changes in the fair value of these contracts. Measuring the Fair Value of Other Investments Using Net Asset Valuations The table below shows the Company’s portfolio of other investments measured using net asset valuations:
Private equity partnerships – Included in the Company’s investments in private equity partnerships are alternative asset limited partnerships (or similar corporate structures) that invest in certain private equity asset classes including U.S. and global leveraged buyouts; mezzanine investments; distressed securities; real estate; and oil, gas and power. The fair values of the investments in this category have been estimated using the net asset value per share of the investments. The Company generally has no right to redeem its interest in any of these private equity partnerships in advance of dissolution of the applicable partnership. Instead, the nature of these investments is that distributions are received by the Company in connection with the liquidation of the underlying assets of the applicable limited partnership. It is estimated that the majority of the underlying assets of the limited partnerships would liquidate over 7 to 10 years from inception of the limited partnership. Senior secured bank loan funds – The Company’s investment in senior secured bank loan funds includes funds that invest primarily in bank loans and other senior debt instruments. The fair values of the investments in this category have been estimated using the net asset value per share of the funds. Investments of $237.8 million are redeemable, in part on a monthly basis, or in whole over a three month period. The Company also has a $20.1 million investment in a closed end fund which invests in loans. The Company has no right to redeem its investment in this fund. Non-U.S. fixed income funds – The Company’s non-U.S. fixed income funds invest primarily in non-U.S. convertible securities. The fair values of the investments in this category have been estimated using the net asset value per share of the funds. Investments of $28.9 million are redeemable, in whole or in part, on a bi-monthly basis. Hedge funds – The Company invests in hedge funds that pursue multiple strategies. The fair values of the investments in this category have been estimated using the net asset value per share of the funds. Included in the Company's investments in hedge funds at December 31, 2011, are $6.6 million of so called “side pocket” investments which are not redeemable at the option of the shareholder. As to each investment in a hedge fund that includes side pocket investments, if the investment is otherwise fully redeemed, the Company will still retain its interest in the side pocket investments until the underlying investments attributable to such side pockets are liquidated, realized or deemed realized at the discretion of the fund manager. |
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- Definition
The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Ceded Reinsurance
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Dec. 31, 2011
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| Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ceded Reinsurance | CEDED REINSURANCE The Company purchases reinsurance and other protection to manage its risk portfolio and to reduce its exposure to large losses. The Company currently has in place contracts that provide for recovery of a portion of certain claims and claim expenses, generally in excess of various retentions or on a proportional basis. In addition to loss recoveries, certain of the Company’s ceded reinsurance contracts provide for recoveries of additional premiums, reinstatement premiums and for lost no-claims bonuses, which are incurred when losses are ceded to other reinsurance contracts. The Company remains liable to the extent that any reinsurance company fails to meet its obligations. The following tables set forth the effect of reinsurance and retrocessional activity on premiums written and earned and on net claims and claim expenses incurred:
The reinsurers with the three largest balances accounted for 27.3%, 14.9% and 12.4%, respectively, of the Company’s reinsurance recoverable balance at December 31, 2011 (2010 – 31.7%, 13.7% and 12.7%, respectively). At December 31, 2011, the Company had a $7.3 million valuation allowance against reinsurance recoverable (2010 – $3.5 million). The three largest company-specific components of the valuation allowance represented 34.2%, 27.3% and 12.0%, respectively, of the Company’s total valuation allowance at December 31, 2011 (2010 – 57.0%, 24.9% and 3.7%, respectively). |
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The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reserve for Claims and Claim Expenses
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Dec. 31, 2011
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| Insurance Loss Reserves [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reserve for Claims and Claim Expenses | RESERVE FOR CLAIMS AND CLAIM EXPENSES The Company uses statistical and actuarial methods to estimate ultimate expected claims and claim expenses. The period of time from the reporting of a claim to the Company and the settlement of the Company's liability may be many years. During this period, additional facts and trends will be revealed. As these factors become apparent, case reserves will be adjusted, sometimes requiring an increase or decrease in the overall reserve for claims and claim expenses of the Company, and at other times requiring a reallocation of incurred but not reported (“IBNR”) reserves to specific case reserves or additional case reserves. These estimates are reviewed regularly, and such adjustments, if any, are reflected in the results of operations in the period in which they become known and are accounted for as changes in estimates. Adjustments to the Company's reserve for claims and claim expenses can impact current year net income (loss) by increasing net income or decreasing net loss if the estimates of prior year claims and claim expense reserves prove to be overstated or by decreasing net income or increasing net loss if the estimates of prior year claims and claim expense reserves prove to be insufficient. The Company's estimates of claims and claim expenses are also based in part upon the estimation of claims resulting from natural and man-made disasters such as hurricanes, earthquakes, tsunamis, winter storms, terrorist attacks and other catastrophic events. Estimation by the Company of claims resulting from catastrophic events is inherently difficult because of the potential severity of property catastrophe claims. Additionally, the Company has recently increased its specialty reinsurance business but does not have the benefit of a significant amount of its own historical experience in certain of these lines. Therefore, the Company uses both proprietary and commercially available models, as well as historical (re)insurance industry claims experience, for purposes of evaluating future trends and providing an estimate of ultimate claims costs. Activity in the liability for unpaid claims and claim expenses is summarized as follows:
The following table details the Company's prior year development by segment of its liability for unpaid claims and claim expenses:
For the year ended December 31, 2011, the prior year net favorable development of $132.0 million included favorable development of $136.9 million, adverse development of $0.5 million and adverse development of $4.4 million attributable to the Company's Reinsurance, Lloyd's and Insurance segments, respectively. Within the Company's Reinsurance segment, the catastrophe unit experienced $59.1 million of favorable development on prior years claims and claim expense reserves and the specialty reinsurance unit experienced $77.8 million of favorable development on prior years claims and claim expense reserves. For the year ended December 31, 2010, the prior year favorable development of $302.1 million included favorable development of $286.0 million, $0.2 million and $15.9 million attributable to the Company's Reinsurance, Lloyd's and Insurance segments, respectively. Within the Company's Reinsurance segment, the catastrophe unit experienced $157.5 million of favorable development on prior years claims and claim expense reserves and the specialty reinsurance unit experienced $128.6 million of favorable development on prior years claims and claim expense reserves. For the year ended December 31, 2009, the prior year favorable development of $266.2 million included favorable development of $249.5 million and $16.7 million attributable to the Company's Reinsurance and Insurance segments, respectively. Within the Company's Reinsurance segment, the Company's catastrophe unit experienced $184.4 million of favorable development on prior years claims and claim expense reserves and its specialty reinsurance unit experienced $65.1 million of favorable development on prior years claims and claim expense reserves. Reinsurance Segment The Company reviews substantially all of its catastrophe reinsurance claims and claim expense reserves quarterly. The Company's quarterly review procedures include identifying events that have occurred up to the latest balance sheet date, determining its best estimate of the ultimate expected cost to settle all claims and administrative costs associated with those new events which have arisen during the reporting period, reviewing the ultimate expected cost to settle claims and administrative costs associated with those events which occurred during previous periods, and considering new estimation techniques, such as additional actuarial methods or other statistical techniques, that can assist the Company in developing its best estimate. This process is judgmental in that it involves reviewing changes in paid and reported claims each period and adjusting the Company's estimates of the ultimate expected claims for each event where there are developments that are different from its previous expectations. If the Company determines that adjustments to an earlier estimate are appropriate, such adjustments are recorded in the period in which they are identified. It should be noted that the level of the Company's claims associated with certain catastrophes can be very large. For example, within the Company's Reinsurance segment, initial estimated ultimate claims associated with 2005 hurricanes, Katrina, Rita and Wilma, were over $1.5 billion, and the initial estimated ultimate claims associated with the 2008 hurricanes, Gustav and Ike, were over $530 million. As a result, small percentage changes in the estimated ultimate claims of large catastrophic events can significantly impact the Company's reserves for claims and claim expenses in subsequent periods. When initially developing the Company's reserving techniques for its specialty reinsurance coverages, the Company considered estimating reserves utilizing several actuarial techniques such as paid and reported claims development methods. The Company elected to use the Bornhuetter-Ferguson actuarial method because this method is appropriate for lines of business, such as the Company's specialty reinsurance business, where there is a lack of historical claims experience. This method allows for greater weight to be applied to expected results in periods where little or no actual experience is available, and, hence, is less susceptible to the potential pitfall of being excessively impacted by one particular year or quarter of actual paid and/or reported claims data. This method uses initial expected claims ratio expectations to the extent that claims are not paid or reported, and it assumes that past experience is not fully representative of the future. As the Company's reserves for claims and claim expenses age, and actual claims experience becomes available, this method places less weight on expected experience and places more weight on actual experience. This experience, which represents the difference between expected reported claims and actual reported claims is reflected in the respective reporting period as a change in estimate. The Company reevaluates its actuarial reserving techniques on a periodic basis. The Company reviews substantially all of its specialty reinsurance claims and claim expense reserves quarterly. Typically, the quarterly review procedures include reviewing paid and reported claims in the most recent reporting period, reviewing the development of paid and reported claims from prior periods, and reviewing the Company's overall experience by underwriting year and in the aggregate. The Company monitors its expected ultimate claims and claim expense ratios and expected claims reporting assumptions on a quarterly basis and compares them to its actual experience. These actuarial assumptions are generally reviewed annually, based on input from the Company's actuaries, underwriters, claims personnel and finance professionals, although adjustments may be made more frequently if needed. Assumption changes are made to adjust for changes in the pricing and terms of coverage the Company provides, changes in industry standards, as well as its actual experience, to the extent the Company has enough data to rely on its own experience. If the Company determines that adjustments to an earlier estimate are appropriate, such adjustments are recorded in the period in which they are identified. The following table details the development of the Company's liability for unpaid claims and claim expenses for its Reinsurance segment for the year ended December 31, 2011 split between its catastrophe reinsurance unit and its specialty reinsurance unit and then further split between catastrophe claims and claim expenses and attritional claims and claim expenses:
Catastrophe Reinsurance Unit The favorable development of prior accident years claims and claim expenses within the Company's catastrophe reinsurance unit in 2011 of $59.1 million was due to net reductions of $32.1 million arising from the estimated ultimate claims of large catastrophe events, including the 2005 hurricanes and the World Trade Center, for which the claims are principally paid and the amount of additional reported claims had slowed considerably and therefore the ultimate claims were reduced, and tropical cyclone Tasha and the Chilean earthquake, as reported claims came in better than expected in 2011. Partially offsetting the above reductions in estimated ultimate claims during 2011, the Company increased its estimated ultimate claims for the September 2010 New Zealand earthquake due to additional claims reporting information being available to the Company. The remainder of the favorable development of prior accident years claims and claim expenses was due to a reduction in ultimate claims on a large number of relatively small catastrophes, all principally the result of reported claims coming in less than expected, resulting in formulaic decreases to the ultimate claims for these events. Specialty Reinsurance Unit The favorable development of prior accident years claims and claim expenses within the Company's specialty reinsurance unit in 2011 of $77.8 million includes: $26.8 million associated with actuarial assumption changes, principally in the Company's workers’ compensation quota share and per risk and property risk and energy lines of business, and primarily as a result of revised initial expected claims ratios and claim development factors due to actual experience coming in better than expected; $13.9 million due to reductions in case reserves and additional case reserves for certain large catastrophe events; and the remainder of $37.1 million due to reported claims coming in better than expected in 2011 on prior accident years events, as a result of the application of the Company's formulaic actuarial reserving methodology. The following table details the development of the Company's liability for unpaid claims and claim expenses for its Reinsurance segment for the year ended December 31, 2010 split between its catastrophe reinsurance unit and its specialty reinsurance unit and then further split between catastrophe claims and claim expenses and attritional claims and claim expenses:
Catastrophe Reinsurance Unit The favorable development of prior accident years claims and claim expenses within the Company's catastrophe reinsurance unit in 2010 of $157.5 million was due to reductions of $37.9 million to the estimated ultimate claims of mature, large catastrophe events, such as the 2001 World Trade Center, European windstorm Erwin and the large European windstorms of 1999, for which the claims are principally paid and the amount of additional reported claims had slowed considerably and therefore the ultimate claims were reduced. In addition, the 2005 Buncefield Oil Depot claim was reduced by $27.4 million in 2010, principally due to the underlying insured subrogating its liability and subsequently reimbursing the Company for claims the Company had previously paid to the insured. The ultimate claims associated with the 2005 hurricanes, Katrina, Rita and Wilma, and the 2004 hurricanes, Charley, Frances, Ivan and Jeanne, were reduced by $25.5 million and $8.1 million, respectively, as reported claims came in better than expected in 2010. As discussed below, the Company adopted a new actuarial technique in 2009 to reserve for these hurricanes and the level of reported claims in 2010 was less than the actuarial technique would have indicated, resulting in formulaic decreases to the ultimate claims for these large hurricanes. The ultimate claims associated with the 2008 hurricanes, Gustav and Ike, were reduced by $10.9 million and the 2009 European windstorm Klaus were reduced by $8.0 million in 2010, due to better than expected reported claims activity. The remainder of the favorable development of prior accident years claims and claim expenses was due to a reduction in ultimate claims on a large number of relatively small catastrophes, all principally the result of reported claims coming in less than expected, resulting in formulaic decreases to the ultimate claims for these events. Specialty Reinsurance Unit The favorable development of prior accident years claims and claim expenses within the Company's specialty reinsurance unit in 2010 of $128.6 million includes $31.4 million associated with actuarial assumption changes, principally in the Company's casualty clash and surety lines of business, and partially offset by an increase in reserves within the Company's workers compensation per risk line of business, principally as a result of revised initial expected claims ratios and claim development factors due to actual experience coming in better than expected; $18.5 million due to reductions in case reserves and additional case reserves, which are reserves established at the contract level for specific events; $7.4 million due to reductions in case reserves and additional case reserves for certain large catastrophe events; and the remainder of $71.3 million due to reported claims coming in better than expected in 2010 on prior accident years events, principally the 2005 through 2009 underwriting years, as a result of the application of the Company's formulaic actuarial reserving methodology. The following table details the development of the Company's liability for unpaid claims and claim expenses for its Reinsurance segment for the year ended December 31, 2009 split between its property catastrophe reinsurance unit and its specialty reinsurance unit and then further split between catastrophe claims and claim expenses and attritional claims and claim expenses:
Catastrophe Reinsurance Unit The favorable development of prior accident years claims and claim expenses within the Company's property catastrophe unit of $184.4 million in 2009 includes a $44.7 million reduction in the ultimate claims associated with the 2008 hurricanes, Gustav and Ike. Given the magnitude and the then recent occurrence of the 2008 hurricanes, Gustav and Ike, during the third quarter of 2008, combined with delays in receiving claims data, potential uncertainties related to reinsurance recoveries and other uncertainties inherent in claims estimation, meaningful uncertainty remained regarding the ultimate claims related to these hurricanes at December 31, 2008. Accordingly, as the Company received additional information during 2009, the level of reported claims was less than expected and, as such, the ultimate claims associated with these hurricanes was reduced. In 2009, the Company reviewed its processes and methodology for estimating the ultimate expected cost to settle all claims arising from certain mature, large U.S. hurricanes. During this process, the Company evaluated several actuarial methodologies including using paid claim development factors, reported claim development factors and ratios of IBNR to case reserves. In this review, among other things, the Company looked at its historical claims experience on these mature large U.S. hurricanes, the amount of case reserves associated with these mature, large U.S. hurricanes and available industry claims information on the same or similar events. The Company determined that the use of the reported claim development factor methodology for these mature, large U.S. hurricanes would provide the Company with the best estimate of ultimate claims in respect of these events. Currently, the Company believes this approach is only applicable for the 2004 and 2005 large hurricanes as it believes that (i) these events have a large enough number of reported claims to be statistically sound, (ii) these events have available industry reported claims information to supplement the Company's own historical reported claim information, and (iii) a sufficient amount of time has passed from the date of claim that the use of an actuarial method could assist in estimating the ultimate costs. The Company implemented this actuarial methodology in 2009 with respect to its 2004 and 2005 hurricane claims. In implementing this actuarial technique, the Company adjusted its ultimate claims at December 31, 2009 on the 2004 hurricanes from 96.6% reported to 98.1% reported and from 93.6% reported to 95.8% reported for the 2005 hurricanes. The impact of these changes within the Company's catastrophe reinsurance unit was a decrease in ultimate claims on the 2004 hurricanes by $12.3 million and by $28.1 million for the Company's 2005 hurricane claims, prior to the impact of changes in the Company's reinsurance recoveries. At December 31, 2010, the Company estimated its reported claims were 99.3% and 98.1% reported for the 2004 and 2005 hurricanes, respectively. The remainder of the reduction in ultimate claims in 2009 was due to the 2007 European windstorm Kyrill of $16.7 million; the 2007 California wildfires of $14.1 million; the 2007 flooding in the U.K. of $14.6 million; and $57.6 million related to reductions in the ultimate net claims on a variety of smaller catastrophes such as hail storms, winter freezes, floods, fires and tornadoes which occurred during the 2006 through 2008 accident years. Specialty Reinsurance Unit The favorable development of prior accident years claims and claim expenses within the Company's specialty reinsurance unit of $65.1 million in 2009 was principally attributable to lower than expected claims emergence on the 2005 through 2008 underwriting years of $92.1 million, which was driven by the application of the Company's formulaic actuarial reserving methodology for this business with the reductions being due to actual paid and reported claim activity being more favorable to date than what was originally anticipated when setting the initial IBNR reserves, $10.0 million due to a reduction on one claim on a contract related to the 2005 hurricanes, and partially offset by a $32.5 million increase in the Company's estimated ultimate net claims on the 2008 Madoff matter and a $4.5 million increase due to the subprime claims, with both of these increases driven by higher than expected claims activity. Lloyd's Segment The Company uses the Bornhuetter-Ferguson actuarial method to estimate claims and claim expenses within its Lloyd's segment for its property and casualty (re)insurance contracts and quota share reinsurance business. The comments discussed above relating to the Company's reserving techniques and processes for the Company's specialty reinsurance unit within the Company's Reinsurance segment also apply to the Company's Lloyd's segment. In addition, certain of the Company's coverages may be impacted by natural and man-made catastrophes. The Company estimates claim reserves for these claims after the event giving rise to these claims occurs, following a process that is similar to the Company's catastrophe reinsurance unit discussed above. The following table details the development of the Company's liability for unpaid claims and claim expenses for its Lloyd's segment for the years ended December 31, 2011, 2010 and 2009:
The Company commenced its Lloyd's operations in mid-2009 and the reserve development in this segment since that time has not been significant. Insurance Segment The Company uses the Bornhuetter-Ferguson actuarial method to estimate claims and claim expenses within its Insurance segment for its property and casualty insurance contracts and quota share reinsurance business. The comments discussed above relating to the Company's reserving techniques and processes for its specialty reinsurance unit within the Company's Reinsurance segment also apply to the Company's Insurance segment. In addition, certain of the Company's coverages may be impacted by natural and man-made catastrophes. The Company estimates claim reserves for these claims after the event giving rise to these claims occurs, following a process that is similar to the Company's catastrophe reinsurance unit discussed above. The following table details the development of the Company's liability for unpaid claims and claim expenses for its Insurance segment for the years ended December 31, 2011, 2010 and 2009:
The adverse development on prior accident years of $4.4 million in 2011 within the Company's Insurance segment was principally due to the construction defect book of business, which experienced higher than expected reported losses, and was subsequently subject to a comprehensive actuarial review during the fourth quarter of 2011, which review resulted in an increase of $10.1 million to the estimated ultimate claims and claim expenses related to this book of business due to changes in the actuarial assumptions. The total gross reserve for claims and claim expenses for the construction defect book of business at December 31, 2011 is $58.8 million. Partially offsetting the adverse development on prior accident years within the construction defect book of business, noted above, was favorable development of $4.2 million related to large catastrophe events, of which $4.6 million related to the 2005 hurricanes, and $1.4 million related to the application of the Company's formulaic actuarial reserving methodology with the reductions being due to actual paid and reported claim activity being more favorable to date than what was originally anticipated when setting the initial reserves. The favorable development of $15.9 million in 2010 on prior accident year claims and claim expenses within the Company's Insurance segment was principally driven by the application of the Company's formulaic actuarial reserving methodology for this business with the reductions being due to actual paid and reported claim activity being more favorable to date than what was originally anticipated when setting the initial reserves. There were no significant changes made to the actuarial assumptions in 2010 or to the ultimate claims associated with the large catastrophe events. The favorable development within the Company's Insurance segment of $16.7 million in 2009 was principally driven by the application of the Company's formulaic actuarial reserving methodology for this business with the reductions being due to actual paid and reported claim activity being more favorable to date than what was originally anticipated when setting the initial reserves. During 2009, there were no significant changes made to the actuarial assumptions used as part of the Company's formulaic actuarial reserving methodology noted above. The Company's Insurance segment experienced a $2.1 million decrease in the net ultimate claims and claim expenses associated with the 2004 and 2005 large hurricanes during 2009, including the adoption of the actuarial technique noted above for these hurricanes. The total decrease in net ultimate claims and claim expenses associated with large catastrophes in 2009 was $1.6 million. Assumed Reinsurance Contracts Classified As Deposit Contracts Net claims and claim expenses incurred were reduced by $0.2 million during 2011 (2010 – $0.2 million, 2009 – $3.3 million) related to income earned on assumed reinsurance contracts that were classified as deposit contracts with underwriting risk only. Other loss was increased by $0.1 million during 2011 (2010 – other income increased by $8.1 million, 2009 – other income reduced by $0.7 million) related to premiums and losses incurred on assumed reinsurance contracts that were classified as deposit contracts with timing risk only. Aggregate deposit liabilities of $50.0 million are included in reinsurance balances payable at December 31, 2011 (2010 – $52.1 million) and aggregate deposit assets of $0.0 million are included in other assets at December 31, 2011 (2010 – $0.0 million) associated with these contracts. |
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Disclosure of accounting policy for the various components of the reserve for future policy benefits and guaranteed minimum benefits, and for claims and claims adjustment expenses; the significant assumptions for estimating claims losses; causes of significant variances from prior periods (such as catastrophes, asbestos and environmental claims reserve losses); and reconciliations of beginning to ending reserve balances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| Debt | DEBT 5.875% Senior Notes In January 2003, the Company issued $100.0 million, which represents the carrying amount on the Company’s consolidated balance sheet, of 5.875% Senior Notes due February 15, 2013, with interest on the notes payable on February 15 and August 15 of each year. The notes can be redeemed by the Company prior to maturity, subject to payment of a “make-whole” premium. The notes, which are senior obligations, contain various covenants, including limitations on mergers and consolidations, restrictions as to the disposition of the stock of designated subsidiaries and limitations on liens of the stock of designated subsidiaries. 5.75% Senior Notes On March 17, 2010, RRNAH issued $250.0 million of 5.75% Senior Notes due March 15, 2020, with interest on the notes payable on March 15 and September 15 of each year. The notes, which are senior obligations, are guaranteed by RenaissanceRe and can be redeemed by RRNAH prior to maturity, subject to the payment of a "make-whole" premium. The Notes were issued pursuant to an Indenture, dated as of March 17, 2010, by and among RenaissanceRe, RRNAH, and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”), as supplemented by the First Supplemental Indenture, dated as of March 17, 2010 (as so supplemented, the “Indenture”). RenaissanceRe Revolving Credit Facility (the “Credit Agreement”) Effective April 22, 2010, RenaissanceRe entered into a revolving credit agreement with various financial institutions parties thereto, Bank of America, N.A., as fronting bank, letter of credit administrator and administrative agent for the lenders thereunder, and Wells Fargo Bank, National Association, as syndication agent. The Credit Agreement provides for a revolving commitment to RenaissanceRe of $150.0 million, including the issuance of letters of credit for the account of RenaissanceRe and RenaissanceRe’s insurance subsidiaries of up to $150.0 million and the issuance of letters of credit for the account of RenaissanceRe’s non-insurance subsidiaries of up to $50.0 million. RenaissanceRe has the right, subject to satisfying certain conditions, to increase the size of the facility to $250.0 million. The scheduled commitment maturity date of the Credit Agreement is April 22, 2013. At December 31, 2011, the revolving commitment of $150.0 million remained unused and available to RenaissanceRe. The Credit Agreement contains representations, warranties and covenants customary for bank loan facilities of this type. In addition to customary covenants which limit the ability of RenaissanceRe and its subsidiaries to merge, consolidate, enter into negative pledge agreements, sell, transfer or lease all or any substantial part of their respective assets, incur liens and declare or pay dividends under certain circumstances, the Credit Agreement also contains certain financial covenants. These financial covenants generally provide that consolidated debt to capital shall not exceed the ratio of 0.35:1 and that the consolidated net worth of RenaissanceRe and Renaissance Reinsurance shall equal or exceed $2.4 billion and $960.0 million, respectively. The foregoing net worth requirements are recalculated effective as of the end of each fiscal year, all as more fully set forth in the Credit Agreement. DaVinciRe Revolving Credit Facility DaVinciRe was a party to a Third Amended and Restated Credit Agreement, dated as of April 5, 2006 (the “DaVinciRe Credit Agreement”), which provides for a revolving credit facility in an aggregate amount of up to $200.0 million and was scheduled to mature on April 5, 2011. On April 1, 2011, DaVinciRe repaid in full the $200.0 million borrowed under the DaVinciRe Credit Agreement and terminated the lenders' lending commitment thereunder. In connection with such repayment and termination, on March 30, 2011, DaVinciRe entered into a loan agreement with RenaissanceRe (the “Loan Agreement”) under which RenaissanceRe made a loan to DaVinciRe in the principal amount of $200.0 million on April 1, 2011. The loan matures on March 31, 2021 and interest on the loan is payable at a rate of three month LIBOR plus 3.5% and is due at the end of each March, June, September and December, commencing on June 30, 2011. Under the terms of the Loan Agreement, DaVinciRe is required to maintain a debt to capital ratio of no greater than 0.40 to 1.00 and a net worth of no less than $500.0 million. At December 31, 2011, $200.0 million remained outstanding under the Loan Agreement. Principal Letter of Credit Facility Effective April 22, 2010, RenaissanceRe and its affiliates, Renaissance Reinsurance, Renaissance Reinsurance of Europe, Glencoe Insurance Ltd. and DaVinci (such affiliates, collectively, the “Account Parties”), entered into a Third Amended and Restated Reimbursement Agreement with various banks and financial institutions parties thereto (collectively, the “Lenders”), with Wells Fargo Bank, National Association, as issuing bank, administrative agent and collateral agent for the Lenders, and certain other agents (the “Reimbursement Agreement”). The Reimbursement Agreement serves as the Company’s principal secured letter of credit facility and the commitments thereunder expire on April 22, 2013. As of December 31, 2010, the Reimbursement Agreement provided commitments from the Lenders in an aggregate amount of $1.0 billion. Effective February 15, 2011, the Company reduced the commitments under the Reimbursement Agreement from $1.0 billion to $700.0 million. Effective March 7, 2011, the Company further reduced the commitments under the Reimbursement Agreement from $700.0 million to $600.0 million. The reductions were implemented in connection with a reassessment of the future collateral needs of the Account Parties, taking into account, amount other things, their access to alternative sources of credit enhancement. Prior to the expiration date set forth above and after giving effect to the full $400.0 million reduction, the commitments of the Lenders under the Reimbursement Agreement may be increased from time to time up to an aggregate amount not to exceed $1.1 billion, subject to the satisfaction of certain conditions. At December 31, 2011, the Company had $420.5 million of letters of credit with effective dates on or before December 31, 2011 outstanding under the Reimbursement Agreement. The Reimbursement Agreement contains representations, warranties and covenants in respect of RenaissanceRe and the Account Parties and Renaissance Investment Holdings Ltd. (“RIHL”) that are customary for facilities of this type, including customary covenants limiting the ability to merge, consolidate, sell, transfer or lease all or any substantial part of their respective assets. The Reimbursement Agreement also contains certain financial covenants that are customary for reinsurance and insurance companies in facilities of this type, which require RenaissanceRe and DaVinci to maintain a minimum net worth of $1.97 billion and $744.0 million, respectively. The foregoing net worth requirements are recalculated effective as of the end of each fiscal year, all as more fully set forth in the Reimbursement Agreement. Under the Reimbursement Agreement, each Account Party is required to pledge eligible collateral having a value sufficient to cover all of its obligations under the Reimbursement Agreement, including reimbursement obligations for outstanding letters of credit issued for its account. Eligible collateral includes, among other things, redeemable preference shares issued to the Account Parties by RIHL. Each Account Party that pledges RIHL shares as collateral must maintain additional unpledged RIHL shares that have a net asset value at least equal to 15% of the outstanding RIHL shares pledged by such Account Party pursuant to the Reimbursement Agreement. In addition, RIHL shares having an aggregate net asset value equal to at least 15% of the net asset value of all outstanding RIHL shares must remain unencumbered. Under the Second Amended and Restated RIHL Undertaking and Agreement, dated as of April 22, 2010, executed by RIHL in favor of the administrative agent on behalf of the Banks in connection with the Reimbursement Agreement (the “RIHL Agreement”), RIHL agrees, among other things, to guarantee payment of the obligations of the Account Parties under the Reimbursement Agreement on the terms and subject to the limitations more fully described in the RIHL Agreement. Bilateral Letter of Credit Facility (“Bilateral Facility”) Effective September 17, 2010, each of Renaissance Reinsurance, DaVinci and Glencoe (collectively, the “Bilateral Facility Participants”), entered into a secured letter of credit facility with Citibank Europe plc (“CEP”). The Bilateral Facility provides a commitment from CEP to issue letters of credit for the account of one or more of the Bilateral Facility Participants and their respective subsidiaries in multiple currencies and in an aggregate amount of up to $300.0 million. The Bilateral Facility expires on December 31, 2013 and is evidenced by a Facility Letter (as amended) and three separate Master Agreements between CEP and each of the Bilateral Facility Participants, as well as certain ancillary agreements. At December 31, 2011, the Bilateral Facility of $300.0 million remained unused and available to the Bilateral Facility Participants. Under the Bilateral Facility, each of the Bilateral Facility Participants is severally obligated to pledge to CEP at all times during the term of the Bilateral Facility certain securities with a collateral value (as determined as therein provided) that equals or exceeds 100% of the aggregate amount of its then-outstanding letters of credit. In the case of an event of default under the Bilateral Facility with respect to a Bilateral Facility Participant, CEP may exercise certain remedies with respect to such Bilateral Facility Participant, including terminating its commitment to such Bilateral Facility Participant under the Bilateral Facility and taking certain actions with respect to the collateral pledged by such Bilateral Facility Participant (including the sale thereof). In the Facility Letter, each of Renaissance Reinsurance, DaVinci and Glencoe makes, as to itself, representations and warranties that are customary for facilities of this type and severally agrees that it will comply with certain informational and other undertakings, including those regarding the delivery of quarterly and annual financial statements. Funds at Lloyd’s Letter of Credit Facility On April 26, 2010, Renaissance Reinsurance and CEP entered into an Amended and Restated Pledge Agreement (the “Pledge Agreement”) in respect of its letter of credit facility with CEP which is evidenced by the Master Reimbursement Agreement, dated as of April 29, 2009, and provides for the issuance and renewal of letters of credit which are used to support business written by Syndicate 1458. At December 31, 2011, two letters of credit issued by CEP under the Reimbursement Agreement were outstanding, in the amount of $118.5 million and £24.5 million, respectively, each having an expiration date of December 31, 2013. Pursuant to the Pledge Agreement, Renaissance Reinsurance has agreed to pledge to CEP at all times during the term of the Reimbursement Agreement certain securities with a collateral value equal to 100% of the aggregate amount of the then-outstanding letters of credit issued under the Reimbursement Agreement. Letters of Credit At December 31, 2011, we had total letters of credit outstanding under all facilities of $576.8 million. Renaissance Reinsurance is also party to a collateralized letter of credit and reimbursement agreement in the amount of $37.5 million that supports our Top Layer Re joint venture. Renaissance Reinsurance is obligated to make a mandatory capital contribution of up to $50.0 million in the event that a loss reduces Top Layer Re’s capital below a specified level. Renaissance Trading Margin Facility Renaissance Trading maintains a brokerage facility with a leading prime broker, which has an associated margin facility. This margin facility is supported by a $10.0 million guarantee issued by RenaissanceRe. Interest on amounts outstanding under this facility is at overnight LIBOR plus 75 basis points. At December 31, 2011, $4.4 million was outstanding under the facility. Guarantees At December 31, 2011, RenaissanceRe had provided guarantees in the amount of $371.2 million to certain counterparties of the weather and energy risk operations of Renaissance Trading. In the future, RenaissanceRe may issue guarantees for other purposes or increase the amount of guarantees issued to counterparties of Renaissance Trading. Interest paid on the above debt totaled $23.8 million for the year ended December 31, 2011 (2010 – $17.7 million, 2009 – $18.7 million). The following table sets forth the Company’s aggregate amount of maturities related to the Company’s debt obligations reflected on its consolidated balance sheet at December 31, 2011:
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The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Noncontrolling Interests
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| Noncontrolling Interests | NONCONTROLLING INTERESTS Redeemable Noncontrolling Interest – DaVinciRe In October 2001, the Company formed DaVinciRe and DaVinci with other equity investors. RenaissanceRe owns a noncontrolling economic interest in DaVinciRe; however, because RenaissanceRe controls a majority of DaVinciRe’s outstanding voting rights, the consolidated financial statements of DaVinciRe are included in the consolidated financial statements of the Company. The portion of DaVinciRe’s earnings owned by third parties for the years ended December 31, 2011, 2010 and 2009 is recorded in the consolidated statements of operations as net (loss) income attributable to noncontrolling interests. The Company's ownership in DaVinciRe was 42.8% at December 31, 2011 (2010 - 41.2%, 2009 - 38.2%). DaVinciRe shareholders are party to a shareholders agreement (the “Shareholders Agreement”) which provides DaVinciRe shareholders, excluding RenaissanceRe, with certain redemption rights that enable each shareholder to notify DaVinciRe of such shareholder’s desire for DaVinciRe to repurchase up to half of such shareholder’s initial aggregate number of shares held, subject to certain limitations, such as limiting the aggregate of all share repurchase requests to 25% of DaVinciRe’s capital in any given year and satisfying all applicable regulatory requirements. If total shareholder requests exceed 25% of DaVinciRe’s capital, the number of shares repurchased will be reduced among the requesting shareholders pro-rata, based on the amounts desired to be repurchased. Shareholders desiring to have DaVinci repurchase their shares must notify DaVinciRe before March 1 of each year. The repurchase price will be based on GAAP book value as of the end of the year in which the shareholder notice is given, and the repurchase will be effective as of such date. Payment will be made by April 1 of the following year, following delivery of the audited financial statements for the year in which the repurchase was effective. The repurchase price is subject to a true-up for development on outstanding loss reserves after settlement of all claims relating to the applicable years. Certain third party shareholders of DaVinciRe submitted repurchase notices on or before the required annual redemption notice date of March 1, 2009, in accordance with the Shareholders Agreement. The repurchase notices submitted on or before March 1, 2009 were for shares of DaVinciRe with a GAAP book value of $173.6 million at December 31, 2009. Effective January 1, 2010, DaVinciRe redeemed the shares for $173.6 million, less a $17.6 million reserve holdback and, in a separate transaction, the Company sold a portion of its shares in DaVinciRe to a third party shareholder. Subsequent to the above transactions, the Company’s ownership interest in DaVinciRe increased to 41.2% effective January 1, 2010. Certain third party shareholders of DaVinciRe submitted repurchase notices on or before the required annual redemption notice date of March 1, 2010, in accordance with the Shareholders Agreement. The repurchase notices submitted on or before March 1, 2010, were for shares of DaVinciRe with a GAAP book value of $88.4 million at December 31, 2010. Furthermore, DaVinciRe resolved to return additional capital of $86.6 million to the remaining shareholders, including the Company, after the receipt of the repurchase notices described above. Effective January 1, 2011, DaVinciRe redeemed the shares and returned additional capital for an aggregate of $175.0 million, less a $17.5 million reserve holdback. As a result of the above transactions, the Company’s ownership interest in DaVinciRe increased to 44.0% effective January 1, 2011. In advance of the March 1, 2011 redemption notice date, certain third party shareholders of DaVinciRe have submitted repurchase notices, in accordance with the Shareholders Agreement, for shares of DaVinciRe with a GAAP book value of $9.2 million at December 31, 2011. Effective January 1, 2012, DaVinciRe redeemed the shares for $9.2 million, less a $1.8 million reserve holdback. On June 1, 2011, DaVinciRe completed an equity raise of $100.0 million from new and existing shareholders, including $30.0 million contributed by the Company. As a result of the equity raise, the Company's ownership in DaVinciRe decreased to 42.8% effective June 1, 2011. Effective January 1, 2012, an existing third party shareholder sold a portion of its shares in DaVinciRe to a new third party shareholder. In connection with the sale by the existing third party shareholder, DaVinciRe retained a $4.9 million holdback. In addition, effective January 1, 2012, the Company sold a portion of its shares of DaVinciRe to a separate new third party shareholder. The Company sold these shares for $98.9 million, net of a $10.0 million reserve holdback due from DaVinciRe. The Company's ownership in DaVinciRe was 42.8% at December 31, 2011 and subsequent to the above transactions, its ownership interest in DaVinciRe decreased to 34.7% effective January 1, 2012. Certain third party shareholders of DaVinciRe submitted repurchase notices on or before the required annual redemption notice date of March 1, 2012, in accordance with the Shareholders Agreement. The repurchase notices submitted on or before February 15, 2012, were for shares of DaVinciRe with a GAAP book value of $19.0 million at December 31, 2011. The Company expects its ownership in DaVinciRe to fluctuate over time. The activity in redeemable noncontrolling interest – DaVinciRe is detailed in the table below:
Noncontrolling Interest - Angus Fund L.P. (the “Angus Fund”) In December 2010, REAL and RenRe Commodity Advisors Inc. (“RRCA”), both wholly owned subsidiaries of the Company, formed the Angus Fund with other equity investors. REAL, the general partner of the Angus Fund, invested $41 thousand in the Angus Fund, representing a 1.0% ownership interest at December 31, 2011 (2010 - $40 thousand and 1.0%, respectively), and RRCA, a limited partner, invested $1.0 million in the Angus Fund, representing a 24.2% ownership interest at December 31, 2011 (2010 - $1.0 million and 24.8%, respectively). The Angus Fund was formed to provide capital to and make investments in companies primarily in the heating oil and propane distribution industries to supplement the Company’s weather and energy risk management operations. The Angus Fund meets the definition of a VIE, therefore the Company evaluated its ownership in the Angus Fund to determine if it is the primary beneficiary. The Company has concluded it is the primary beneficiary of the Angus Fund as it has the power to direct, and has a more than insignificant economic interest in, the activities of the Angus Fund and as such, the financial position and results of operations of the Angus Fund are consolidated. The Company expects its ownership in the Angus Fund to fluctuate over time. The portion of the Angus Fund's earnings owned by third parties for the year ended December 31, 2011 and 2010, is recorded in the consolidated statements of operations as noncontrolling interest. The Company expects its ownership in the Angus Fund to fluctuate over time. The activity in noncontrolling interest is detailed in the table below:
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The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Shareholders' Equity
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Dec. 31, 2011
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| Shareholders' Equity | SHAREHOLDERS’ EQUITY The aggregate authorized capital of the Company is 325 million shares consisting of 225 million common shares and 100 million preference shares. The following table is a summary of changes in common shares issued and outstanding:
The Company’s share repurchase program may be effected from time to time, depending on market conditions and other factors, through open market purchases and privately negotiated transactions. Unless terminated earlier by resolution of the Company’s Board of Directors, the program will expire when the Company has repurchased the full value of the shares authorized. The Company’s decision to repurchase common shares will depend on, among other matters, the market price of the common shares and the capital requirements of the Company. During 2011, $191.6 million of shares (2010 – $460.4 million, 2009 – $51.0 million) were repurchased under this program. Common shares repurchased by the Company are normally canceled and retired. At December 31, 2011, $483.2 million remained available for repurchase under the Board authorized share repurchase program. On February 22, 2012, the Company approved an increase in its authorized share repurchase program to an aggregate amount of $500.0 million. Dividends declared and paid on common shares amounted to $1.04, $1.00 and $0.96 per common share for the years ended December 31, 2011, 2010 and 2009, respectively, or $53.5 million, $55.9 million and $59.7 million, respectively, on all common shares outstanding. In December 2006, the Company raised $300.0 million through the issuance of 12 million Series D Preference Shares at $25 per share; in March 2004, the Company raised $250.0 million through the issuance of 10 million Series C Preference Shares at $25 per share; and in February 2003 the Company raised $100.0 million through the issuance of 4 million Series B Preference Shares at $25 per share. On November 17, 2010, the Company gave redemption notices to the holders of the 7.30% Series B Preference Shares to redeem such shares for $25 per share. On December 20, 2010, the Company redeemed all of the issued and outstanding 7.30% Series B Preference Shares for $100.0 million plus accrued and unpaid dividends thereon. The Series D and Series C Preference Shares may be redeemed at $25 per share at the Company’s option on or after December 1, 2011 and March 23, 2009, respectively. Dividends on the Series D and Series C Preference Shares are cumulative from the date of original issuance and are payable quarterly in arrears at 6.60% and 6.08%, respectively, when, if, and as declared by the Board of Directors. The preference shares have no stated maturity and are not convertible into any other securities of the Company. Generally, the preference shares have no voting rights. Whenever dividends payable on the preference shares are in arrears (whether or not such dividends have been earned or declared) in an amount equivalent to dividends for six full dividend periods (whether or not consecutive), the holders of the preference shares, voting as a single class regardless of class or series, will have the right to elect two directors to the Board of Directors of the Company. During 2011, the Company declared and paid $35.0 million in preference share dividends (2010 – $42.1 million, 2009 – $42.3 million). |
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The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Share
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Dec. 31, 2011
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share | EARNINGS PER SHARE The Company accounts for its weighted average shares in accordance with FASB ASC Topic Earnings per Share. Basic earnings per common share is based on weighted average common shares and excludes any dilutive effects of stock options and restricted stock. Diluted earnings per common share assumes the exercise of all dilutive stock options and restricted stock grants. In accordance with FASB ASC Topic Earnings per Share, earnings per share calculations use average common shares outstanding - basic, when the Company is in a net loss position for the period. The following table sets forth the computation of basic and diluted earnings per common share:
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The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Related Party Transactions and Major Customers
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Dec. 31, 2011
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| Related Party Transactions [Abstract] | |
| Related Party Transactions and Major Customers | RELATED PARTY TRANSACTIONS AND MAJOR CUSTOMERS During 2010, the Company issued a $5.0 million promissory note to Tower Hill Insurance Group, LLC (“THIG”). Interest is due quarterly and is accrued on the unpaid principal balance at LIBOR plus 6.0%. THIG can voluntarily prepay the loan in whole, or in part, plus accrued interest, without premium or penalty at any time. Included in other assets on the Company’s consolidated balance sheet at December 31, 2011 is the promissory note principal balance of $4.5 million (2010 - $5.0 million). Interest income earned on the promissory note of $0.3 million (2010 - $0.0 million) is included in other income on the Company's consolidated statements of operations. The Company has entered into reinsurance agreements with certain subsidiaries and affiliates of Tower Hill and has also entered into reinsurance agreements with respect to business produced by the Tower Hill Companies. For the year ended December 31, 2011, the Company recorded $29.8 million (2010 - $29.7 million, 2009 - $28.1 million) of gross premium written assumed from Tower Hill and its subsidiaries and affiliates. Gross premiums earned totaled $28.9 million (2010 - $38.4 million, 2009 - $58.5 million) and expenses incurred were $3.3 million (2010 - $4.1 million, 2009 - $14.3 million) for the year ended December 31, 2011. The Company had a net related outstanding receivable balance of $12.2 million as of December 31, 2011 (2010 – $14.9 million). During 2011, the Company recovered net claims and claims expenses of $8.0 million (2010 - assumed $15.5 million, 2009 - assumed $10.0 million) and, as of December 31, 2011, had a net reserve for claims and claim expenses of $11.6 million (2010 - $13.9 million). In addition, the Company received distributions of $9.5 million from THIG during 2011. During 2008, the Company invested $6.0 million in Angus Partners LLC (“Angus”), representing a 40% equity interest, which is accounted for under the equity method of accounting. Angus provides commodity related risk management products to third party customers. The Company had an outstanding net asset position of $3.8 million at December 31, 2011 (2010 - net liability position of $0.9 million) related to certain derivative trades with Angus. For the year ended December 31, 2011, the Company generated other income of $3.4 million (2010 - $8.3 million, 2009 - $1.2 million) related to these trades. During 2011, the Company received distributions from Top Layer Re of $0.0 million (2010 – $12.9 million, 2009 – $11.5 million), and a management fee of $3.7 million (2010 – $3.3 million, 2009 – $3.3 million). The management fee reimburses the Company for services it provides to Top Layer Re. In addition, during 2011, the Company contributed additional paid in capital of $38.5 million to Top Layer Re (2010 - $13.8 million). During 2011, the Company received 90.7% of its Reinsurance segment gross premiums written (2010 – 88.2%, 2009 – 90.1%) from three brokers. Subsidiaries and affiliates of AON Benfield, Marsh Inc., and the Willis Group accounted for approximately 56.1%, 21.9% and 12.7%, respectively, of gross premiums written for the Reinsurance segment in 2011 (2010 – 53.5%, 23.1% and 11.6%, respectively, 2009 – 58.7%, 20.9% and 10.5%, respectively). |
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Related Party Transactions and Major Customers Disclosure [Text Block] No definition available.
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Taxation
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Dec. 31, 2011
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxation | TAXATION Under current Bermuda law, the Company and its Bermuda subsidiaries are not subject to any income or capital gains taxes. In the event that such taxes are imposed, the Company and its Bermuda subsidiaries would be exempted from any such tax until March 2035 pursuant to the Bermuda Exempted Undertakings Tax Protection Act 1966, and Amended Acts of 1987 and 2011, respectively. RenRe North America Holdings Inc. (“RenRe North America”) and its subsidiaries are subject to income taxes imposed by U.S. federal and state authorities and file a consolidated U.S. federal income tax return. Should the U.S. subsidiaries pay a dividend to the Company, withholding taxes would apply to the extent of current year or accumulated earnings and profits. The Company also has operations in Ireland and the U.K. which are also subject to income taxes imposed by the respective jurisdictions in which they operate. The Company is not subject to income taxation other than as stated above. There can be no assurance that there will not be changes in applicable laws, regulations or treaties, which might require the Company to change the way it operates or become subject to taxation. The following is a summary of the Company’s income from continuing operations before taxes allocated between U.S. and non-U.S. jurisdictions:
Income tax benefit (expense) is comprised as follows:
The Company’s expected income tax provision computed on pre-tax income at the weighted average tax rate has been calculated as the sum of the pre-tax income in each jurisdiction multiplied by that jurisdiction’s applicable statutory tax rate. Statutory tax rates of 0.0%, 35.0%, 12.5% and 26.0%, have been used for the Bermuda, U.S., Ireland and the U.K., respectively. A reconciliation of the difference between the provision for income taxes and the expected tax provision at the weighted average tax rate is as follows:
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:
During 2011, the Company recorded a net increase to the valuation allowance of $31.4 million (2010 – $1.2 million, 2009 – $1.0 million). The Company’s net deferred tax asset relates primarily to net operating loss carryforwards, deferred interest expense, tax sharing obligations and GAAP versus tax basis accounting differences relating to accrued expenses and investments. The Company’s U.S. operations generated a cumulative GAAP taxable loss for the three year period ended December 31, 2011. Accordingly, the Company believes that it is more likely than not that the U.S. net deferred tax asset will not be realized and as a result has provided a full valuation allowance against its U.S. net deferred tax asset. In addition, a valuation allowance has been provided against deferred tax assets in Ireland and the U.K. These deferred tax assets relate principally to net operating loss carryforwards. In the U.S., the Company has net operating loss carryforwards of $25.6 million. Under applicable law, the U.S. net operating loss carryforwards will expire in 2032. In Ireland, the Company has net operating loss carryforwards of $14.0 million. Under applicable law, the Irish net operating loss can be carried forward for an indefinite period. In the U.K., the Company has net operating loss carryforwards of $27.1 million. Under applicable law, the U.K. net operating loss can be carried forward for an indefinite period. The Company made net payments for U.S. federal, Irish and U.K. income taxes of $11.0 million for the year ended 2011 (2010 – net payments of $3.5 million, 2009 – net refund of $0.4 million). The Company has unrecognized tax benefits of $3.3 million as of December 31, 2011 (2010 - $0.0 million). Due to the unrecognized tax benefits being attributable to a temporary difference and the Company's U.S. net operating loss carryforward position, unrecognized tax benefits, if recognized, would have no affect on the Company's effective tax rate or on tax payments made to government authorities. Interest and penalties related to unrecognized tax benefits, would be recognized in income tax expense. At December 31, 2011, interest and penalties accrued on unrecognized tax benefits was $0.0 million. Income tax returns filed for tax years 2008 through 2010, 2007 through 2010 and 2010, are open for examination by the Internal Revenue Service, Irish tax authorities and U.K. tax authorities, respectively. The Company does not expect the resolution of these open years to have a significant impact on its consolidated statements of operations and financial condition. |
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- Definition
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Reporting
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Dec. 31, 2011
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| Segment Reporting, Measurement Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting | SEGMENT REPORTING The Company has three reportable segments: Reinsurance, Lloyd's and Insurance. The Company's Reinsurance operations are comprised of: 1) property catastrophe reinsurance, primarily written through Renaissance Reinsurance and DaVinci; 2) specialty reinsurance, primarily written through Renaissance Reinsurance and DaVinci; and 3) certain property catastrophe and specialty joint ventures, as described herein. The Reinsurance segment is managed by the Global Chief Underwriting Officer, who leads a team of underwriters, risk modelers and other industry professionals, who have access to the Company's proprietary risk management, underwriting and modeling resources and tools. The Company's Lloyd's segment includes reinsurance and insurance business written through Syndicate 1458. Syndicate 1458 started writing certain lines of insurance and reinsurance business incepting on or after June 1, 2009. The syndicate was established to enhance the Company's underwriting platform by providing access to Lloyd's extensive distribution network and worldwide licenses and is managed by the Chief Underwriting Officer Lloyd's. RenaissanceRe Corporate Capital (UK) Limited (“RenaissanceRe CCL”), an indirect wholly owned subsidiary of the Company, is the sole corporate member of Syndicate 1458. The Company's Insurance segment includes the operations of the Company's former Insurance segment that were not sold pursuant to the Stock Purchase Agreement with QBE, as discussed in “Note 1. Organization”. The Insurance segment is managed by the Global Chief Underwriting Officer. The Insurance business is written by Glencoe Insurance Ltd. (“Glencoe”). Glencoe is a Bermuda domiciled excess and surplus lines insurance company that is currently eligible to do business on an excess and surplus lines basis in 49 U.S. states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. The financial results of the Company's strategic investments, weather and energy risk management operations and noncontrolling interests are included in the Other category of the Company's segment results. Also included in the Other category of the Company's segment results are the Company's investments in other ventures, investments unit, corporate expenses and capital servicing costs. The Company does not manage its assets by segment; accordingly, net investment income (loss) and total assets are not allocated to the segments. A summary of the significant components of the Company's revenues and expenses is as follows:
The following is a summary of the Company’s gross premiums written allocated to the territory of coverage exposure:
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- Definition
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Stock Incentive Compensation and Employee Benefit Plans
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Dec. 31, 2011
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock Incentive Compensation and Employee Benefit Plans | STOCK INCENTIVE COMPENSATION AND EMPLOYEE BENEFIT PLANS 2001 Stock Incentive Plan and Non-Employee Director Stock Incentive Plan The Company has a stock incentive plan (the “2001 Stock Incentive Plan”) under which employees of the Company and its subsidiaries may be granted stock options and restricted stock awards. A stock option award under the Company’s 2001 Stock Incentive Plan allows for the purchase of the Company’s common shares at a price that is equal to the fair market value of the Company’s common shares as of the grant effective date. Options to purchase common shares are granted periodically by the Board of Directors, generally vest over four years and generally expire ten years from the date of grant. Restricted common shares are granted periodically by the Board of Directors and generally vest ratably over a four year period. In addition, awards granted under the Company’s prior 1993 stock incentive plan remain outstanding, with terms similar to the 2001 Stock Incentive Plan. The Company has also established a Non-Employee Director Stock Incentive Plan to issue stock options and shares of restricted stock to the Company’s non-employee directors. The Company’s 2001 Stock Incentive Plan also allows for the issuance of share-based awards, the issuance of restricted common shares and shares tendered in connection with option exercises. For purposes of determining the number of shares reserved for issuance under the 2001 Stock Plan, shares tendered to or withheld by the Company in connection with certain option exercises will again be available for issuance. Premium Option Plan In August 2004, the Company’s shareholders approved the RenaissanceRe Holdings Ltd. 2004 Stock Option Incentive Plan (the “Premium Option Plan”) under which 6.0 million common shares were reserved for issuance upon the exercise of options granted under the Premium Option Plan. On August 15, 2007, the Company terminated the Premium Option Plan, such that no further option grants will be made thereunder. However, options outstanding at the time of the termination will, unless otherwise subsequently amended pursuant to the terms of the Premium Option Plan, remain outstanding and unmodified until they expire, subject to the terms of the Premium Option Plan and any applicable award agreement. The Premium Option Plan provides for, among other things, mandatory premium pricing such that options can generally only be issued thereunder with a strike price at a minimum of 150% of the fair market value on the date of grant, minimum 5-year cliff vesting (subject to waiver by the compensation committee of the Board of Directors), and no discretionary repricing. The Premium Option Plan includes a dividend protection feature that reduces the strike price for extraordinary dividends and a change in control feature that reduces the strike price based on a pre-established formula in the event of a change in control. Other terms are substantially similar to the 2001 Stock Incentive Plan. 2010 Cash Settled Restricted Stock Unit Plan In 2010, the Company instituted a restricted stock unit plan (the “2010 Cash Settled Restricted Stock Unit Plan”) allowing for the issuance of equity awards in the form of restricted stock units which will, subject to vesting requirements consistent with those utilized by the Company in respect of restricted shares, be settled in cash. Restricted stock units are liability awards with fair value measurement based on the market price of RenaissanceRe common stock at the end of each reporting period. Restricted share units are granted periodically by the Board of Directors and generally vest ratably over a four year period. During 2010, there were 900,000 restricted stock units reserved under the 2010 Restricted Stock Unit Plan. 2010 Performance-Based Equity Incentive Plan In May 2010, the Company’s shareholders approved the 2010 Performance-Based Equity Incentive Plan (“2010 Performance Plan”) under which 750,000 shares have been reserved (the “Performance Shares”). The Compensation Committee determined that, beginning in 2010 with the Company’s annual target-level incentive award grant cycle, 25% of the annual equity incentive award grants to each member of the Company’s Executive Committee, which includes our Named Executive Officers excluding the Chief Executive Officer (“CEO”), will be subject to vesting conditions based on both continued service and the attainment of pre-established performance goals. If performance goals are achieved, the performance shares will vest up to a maximum of 250% of target. These grants vest ratably over a period of three years and are based on annual performance periods. The Performance Shares have a market condition which is the Company’s total shareholder return relative to its peer group. Total shareholder return is based on the average closing share price over the 20 trading days preceding and including the start and end of the performance period. The CEO received 100% of a special retention award in the form of Performance Shares in 2010. If performance goals are achieved, the Performance Shares for the CEO will vest up to a maximum of 175% of target. This grant vests over a period of four years and is based on annual performance periods. The fair value of the Performance Shares is measured on the date of grant using a Monte Carlo simulation model which requires the same inputs underlying the Black-Scholes methodology, that being: share price; expected volatility; expected dividend yield; and risk-free interest rates, as shown in the table below. The total cost of the Performance Shares is determined on the grant date based on the fair value calculated by the Monte Carlo simulation model. The Company recognizes cost equal to fair value per Performance Share multiplied by the target number of Performance Shares on the grant date. The cost is then recognized over the requisite service period. Valuation Assumptions The fair value of each performance share is valued on the date of grant using the Monte-Carlo Simulation model with the following weighted average-assumptions for all shares issued in each respective year:
Expected volatility: The expected volatility is estimated by the Company based on the Company’s historical stock volatility. Expected term: The expected term is estimated by looking at historical experience of similar awards, giving consideration to the contractual terms of the award, vesting schedules and expectations of future employee behavior as influenced by changes to the terms of their performance shares. Expected dividend yield: The expected dividend yield is estimated by reviewing the most recent dividend declared by the Board of Directors. Risk-free interest rate: The risk free rate is estimated based on the yield on a U.S. treasury zero-coupon issue with a remaining term equal to the expected term of the performance shares. The fair value of restricted shares is determined based on the market value of the Company’s shares on the grant date. Under the fair value recognition provisions of FASB ASC Topic Compensation – Stock Compensation, the estimated fair value of employee stock options and other share-based payments, net of estimated forfeitures, is amortized as an expense over the requisite service period. When estimating forfeitures, the Company considers its historical forfeitures as well as expectations about employee behavior. The Company currently uses an 8% forfeiture rate. Summary of Stock Compensation Activity The following is a summary of activity under the Company’s existing stock compensation plans for the years ending December 31, 2009, 2010 and 2011, respectively: 2001 Stock Incentive and Non-Employee Director Stock Incentive Plans
Premium Option Plan
2010 Cash Settled Restricted Stock Unit Plan and 2010 Performance-Based Equity Incentive Plan
Restricted Stock
Shares available for issuance under the Company’s 2001 Stock Incentive Plan, Non-Employee Director Stock Incentive Plan, 2010 Performance Share Plan and 2010 Restricted Stock Unit Plan totaled 3.1 million at December 31, 2011. The total fair value of shares vested during the year ended December 31, 2011 was $36.5 million (2010 – $32.5 million, 2009 – $21.5 million). Cash in the amount of $0.1 million was received from employees as a result of employee stock option exercises during the year ended December 31, 2011 (2010 – $1.1 million, 2009 – $5.0 million). In connection with these exercises, there was no tax benefit realized by the Company. The Company issues new shares upon the exercise of an option. The total stock compensation expense recognized in the Company’s consolidated statements of operations for the year ended December 31, 2011 was $33.1 million (2010 – $33.8 million, 2009 – $35.6 million). As of December 31, 2011, there was $38.0 million of total unrecognized compensation cost related to restricted stock awards, $26.1 million related to restricted stock units and $0.1 million related to stock options expense which will be recognized during the next 1.8, 2.6 and 0.2 years, respectively. All of the Company’s employees are eligible for defined contribution pension plans. Contributions are primarily based upon a percentage of eligible compensation. The Company contributed $3.2 million to its defined contribution pension plans in 2011 (2010 – $3.2 million, 2009 – $2.3 million). |
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The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Statutory Requirements
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Dec. 31, 2011
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| Insurance [Abstract] | |
| Statutory Requirements [Text Block] | STATUTORY REQUIREMENTS Bermuda-Based Insurance Entities Under the Insurance Act 1978, amendments thereto and Related Regulations of Bermuda (the “Insurance Act”), certain subsidiaries of the Company are required to prepare statutory financial statements and to file in Bermuda a statutory financial return. The Insurance Act also requires these Bermuda insurance subsidiaries of the Company to maintain certain measures of solvency and liquidity. At December 31, 2011, the statutory capital and surplus of our Bermuda insurance subsidiaries was $2.7 billion (2010 – $3.3 billion) and the minimum amount required to be maintained under Bermuda law, the Minimum Solvency Margin, was $552.9 million (2010 – $483.3 million). In addition, Renaissance Reinsurance and DaVinci are restricted as to the payment of dividends in the amount of 25% of the prior year’s statutory capital and surplus, unless at least two members of the Board of Directors attest that a dividend in excess of this amount would not cause the company to fail to meet its relevant margins. During 2011, Renaissance Reinsurance and DaVinci declared aggregate cash dividends of $180.7 million (2010 – $513.1 million) and $6.8 million (2010 – $3.1 million), respectively. Under the Insurance Act, Renaissance Reinsurance and DaVinci are classified as Class 4 insurers, and therefore must maintain capital at a level equal to its enhanced capital requirement (“ECR”) which is established by reference to the Bermuda Solvency Capital Requirement ("BSCR") model. The BSCR is a standard mathematical model designed to give the Bermuda Monetary Authority ("BMA") more advanced methods for determining an insurer’s capital adequacy. Underlying the BSCR is the belief that all insurers should operate on an ongoing basis with a view to maintaining their capital at a prudent level in excess of the minimum solvency margin otherwise prescribed under the Insurance Act. Alternatively, under the Insurance Act, insurers may, subject to the terms of the Insurance Act and to the BMA’s oversight, elect to utilize an approved internal capital model to determine regulatory capital. In either case, the ECR shall at all times equal or exceed the Class 4 insurer’s Minimum Solvency Margin and may be adjusted in circumstances where the BMA concludes that the insurer’s risk profile deviates significantly from the assumptions underlying its ECR or the insurer’s assessment of its risk management policies and practices used to calculate the ECR applicable to it. While not specifically referred to in the Insurance Act, the BMA has also established a target capital level ("TCL") for each Class 4 insurer equal to 120% of its ECR. While a Class 4 insurer is not currently required to maintain its statutory capital and surplus at this level, the TCL serves as an early warning tool for the BMA and failure to maintain statutory capital at least equal to the TCL will likely result in increased BMA regulatory oversight. The Company is currently completing the 2011 BSCR for Renaissance Reinsurance and DaVinci which must be filed with the BMA on or before April 30, 2012, and at this time believes both companies will exceed the target level of required capital. Under the Act, Glencoe is classified as a Class 3A insurer and Glencoe is also eligible as an excess and surplus lines insurer in a number of states in the U.S. Under the various capital and surplus requirements in Bermuda and in these states, Glencoe is required to maintain a minimum amount of capital and surplus. In this regard, the declaration of dividends from retained earnings and distributions from additional paid-in capital are limited to the extent that the above requirement is met. During 2011, Glencoe declared aggregate cash dividends and returned capital of $15.9 million and $234.1 million, respectively (2010 – $0.0 million and $0.0 million, respectively). Syndicate 1458 The statutory capital of Syndicate 1458, known as Funds at Lloyd’s (the “FAL”), is currently calculated using the internal Lloyd’s risk-based capital model. In addition, if the FAL are not sufficient to cover all losses, the Lloyd’s Central Fund provides an additional level of security for policyholders. At December 31, 2011, the FAL requirement set by Lloyd’s for Syndicate 1458 is $145.5 million based on its business plan, approved in November 2011 (2010 – $93.9 million based on its business plan, approved November 2010). Actual FAL posted for Syndicate 1458 at December 31, 2011 by RenaissanceRe CCL, is $156.4 million, supported 100% by letters of credit (2010 – $99.9 million). Effective January 1, 2013, Syndicate 1458’s capital requirements are expected to be driven by Solvency II requirements. Multi-Beneficiary Reinsurance Trusts Effective March 15, 2011, each of Renaissance Reinsurance and DaVinci was approved as a Trusteed Reinsurer in the state of New York and established a multi-beneficiary reinsurance trust ("MBRT") to collateralize its (re)insurance liabilities associated with U.S. domiciled cedants. The MBRTs are subject to the rules and regulations of the state of New York and the respective deed of trust, including but not limited to certain minimum capital funding requirements, investment guidelines, capital distribution restrictions and regulatory reporting requirements. Assets held under trust at December 31, 2011 with respect to the MBRTs totaled $450.8 million and $101.9 million for Renaissance Reinsurance and DaVinci, respectively, compared to the minimum amount required under U.S. state regulations of $254.5 million and $53.9 million, respectively. |
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Description of statutory requirements under prescribed or permitted statutory practices of the relevant jurisdictions. [Text Block] No definition available.
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Derivative Instruments
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Dec. 31, 2011
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| Summary of Derivative Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments | DERIVATIVE INSTRUMENTS The Company enters into derivative instruments such as futures, options, swaps, forward contracts and other derivative contracts primarily to manage its foreign currency exposure, obtain exposure to a particular financial market, for yield enhancement, or for trading and speculation. The Company accounts for its derivatives in accordance with FASB ASC Topic Derivatives and Hedging, which requires all derivatives to be recorded at fair value on the Company's balance sheet as either assets or liabilities, depending on the rights or obligations of the derivatives, with changes in fair value reflected in current earnings. The Company does not currently apply hedge accounting in respect of any positions reflected in its consolidated financial statements. Where the Company has entered into master netting agreements with counterparties, or the Company has the legal and contractual right to offset positions, the derivative positions are generally netted by counterparty and are reported accordingly in other assets and other liabilities. The table below shows the location on the consolidated balance sheets and fair value of the Company’s principal derivative instruments:
The location and amount of the gain (loss) recognized in the Company’s consolidated statements of operations related to its derivative instruments is shown in the following table:
The Company is not aware of the existence of any credit-risk related contingent features that it believes would be triggered in its derivative instruments that are in a net liability position at December 31, 2011. Interest Rate Futures The Company uses interest rate futures within its portfolio of fixed maturity investments to manage its exposure to interest rate risk, which can include increasing or decreasing its exposure to this risk. At December 31, 2011, the Company had $3.2 billion of notional long positions and $285.7 million of notional short positions of primarily Eurodollar and U.S. Treasury and non-U.S. dollar futures contracts (2010 – $2.2 billion and $209.1 million, respectively). The fair value of these derivatives is determined using exchange traded prices. Foreign Currency Derivatives The Company’s functional currency is the U.S. dollar. The Company writes a portion of its business in currencies other than U.S. dollars and may, from time to time, experience foreign exchange gains and losses in the Company’s consolidated financial statements. All changes in exchange rates, with the exception of non-U.S. dollar denominated investments classified as available for sale and non-monetary assets and liabilities, are recognized currently in the Company’s consolidated statements of operations. Underwriting Operations Related Foreign Currency Contracts The Company’s foreign currency policy with regard to its underwriting operations is generally to hold foreign currency assets, including cash, investments and receivables that approximate the foreign currency liabilities, including claims and claim expense reserves and reinsurance balances payable. When necessary, the Company may use foreign currency forward and option contracts to minimize the effect of fluctuating foreign currencies on the value of non-U.S. dollar denominated assets and liabilities associated with its underwriting operations. The fair value of the Company's underwriting operations related foreign currency contracts is determined using indicative pricing obtained from counterparties or broker quotes. At December 31, 2011, the Company had outstanding underwriting related foreign currency contracts of $160.5 million in notional long positions and $700.8 million notional in short positions, denominated in U.S. dollars (2010 – $42.0 million and $188.1 million, respectively). Investment Portfolio Related Foreign Currency Forward Contracts The Company’s investment operations are exposed to currency fluctuations through its investments in non-U.S. dollar fixed maturity investments, short term investments and other investments. To economically hedge its exposure to currency fluctuations from these investments, the Company has entered into foreign currency forward contracts. Foreign exchange gains (losses) associated with the Company’s hedging of these non-U.S. dollar investments are recorded in net foreign exchange losses in its consolidated statements of operations. The fair value of the Company's investment portfolio related foreign currency forward contracts is determined using an interpolated rate based on closing forward market rates. At December 31, 2011, the Company had outstanding investment portfolio related foreign currency contracts of $48.1 million in notional long positions and $211.6 million in notional short positions, denominated in U.S. dollars (2010 – $69.2 million and $281.0 million, respectively). Energy and Risk Operations Related Foreign Currency Contracts The Company’s energy and risk operations are exposed to currency fluctuations through certain derivative transactions it enters into that are denominated in non-U.S. dollars. The Company may, from time to time, use foreign currency forward and option contracts to minimize the effect of fluctuating foreign currencies on the value of non-U.S. dollar denominated assets and liabilities associated with these operations. The fair value of the Company's energy and risk operations related foreign currency contracts is based on exchange traded prices. At December 31, 2011, the Company’s energy and risk operations had foreign currency contracts of $7.8 million in notional long positions and $12.7 million in notional short positions (2010 – $0.0 million and $10.0 million, respectively). Credit Derivatives The Company’s exposure to credit risk is primarily due to its fixed maturity investments, short term investments, premiums receivable and reinsurance recoverable. From time to time, the Company purchases credit derivatives to hedge its exposures in the insurance industry, and to assist in managing the credit risk associated with ceded reinsurance. The Company also employs credit derivatives in its investment portfolio to either assume credit risk or hedge its credit exposure. The fair value of the credit derivatives is determined using industry valuation models, broker bid indications or internal pricing valuation techniques. The fair value of these credit derivatives can change based on a variety of factors including changes in credit spreads, default rates and recovery rates, the correlation of credit risk between the referenced credit and the counterparty, and market rate inputs such as interest rates. At December 31, 2011, the Company had outstanding credit derivatives of $15.0 million in notional long positions and $38.1 million in notional short positions, denominated in U.S. dollars (2010 – $15.0 million and $118.0 million, respectively). Energy and Weather-Related Derivatives The Company regularly transacts in certain derivative-based risk management products primarily to address weather and energy risks and engages in hedging and trading activities related to these risks. The trading markets for these derivatives are generally linked to energy and agriculture commodities, weather and other natural phenomena. Currently, a significant percentage of the Company’s derivative-based risk management products are transacted on a dual-trigger basis combining weather or other natural phenomenon, with prices for commodities or securities related to energy or agriculture. The fair value of these contracts is obtained through the use of quoted market prices, or in the absence of such quoted prices, industry or internal valuation models. Generally, the Company’s current portfolio of such derivative contracts is of comparably short duration and such contracts are predominantly seasonal in nature. Over time, the Company currently expects that its participation in these markets, and the impact of these operations on its financial results, is likely to increase on both an absolute and relative basis. The Company had the following gross derivative contract positions outstanding relating to its energy and weather derivatives trading activities.
At December 31, 2011, RenaissanceRe had provided guarantees in the aggregate amount of $371.2 million to certain counterparties of the weather and energy risk operations of Renaissance Trading. In the future, RenaissanceRe may issue guarantees for other purposes or increase the amount of guarantees issued to counterparties of Renaissance Trading. Platinum Warrant The Company held a warrant to purchase up to 2.5 million common shares of Platinum for $27.00 per share. The Company recorded its investment in the Platinum warrant at fair value. The fair value of the warrant was estimated using either the Black-Scholes option pricing model or the in-the-money value, the greater of which the Company considered the best estimate of the exit value of the warrant. On January 20, 2011, the Company sold its warrant to Platinum for an aggregate of $47.9 million, and recognized a $3.0 million gain on the sale, which is included in other (loss) income for 2011. |
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The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies
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Dec. 31, 2011
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| Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES CONCENTRATION OF CREDIT RISK Instruments which potentially subject the Company to concentration of credit risk consist principally of investments, including the Company’s equity method investments, cash, premiums receivable and reinsurance balances. The Company limits the amount of credit exposure to any one financial institution and, except for U.S. Government securities, none of the Company’s investments exceeded 10% of shareholders’ equity at December 31, 2011. See “Note 7. Ceded Reinsurance”, for information with respect to reinsurance recoverable. EMPLOYMENT AGREEMENTS The Board of Directors has authorized the execution of employment agreements between the Company and certain officers. These agreements provide for, among other things, severance payments under certain circumstances, as well as accelerated vesting of options and restricted stock grants, upon a change in control, as defined therein and under the terms of the Company’s 2001 Stock Incentive Plan, Premium Option Plan and 2010 Performance-Based Equity Incentive Plan. STOCK PURCHASE AGREEMENT Pursuant to the Stock Purchase Agreement, as discussed in “Note. 3 Discontinued Operations”, the Company is subject to a post-closing review following December 31, 2011 of the net reserve for claims and claim expenses for loss events occurring on or prior to December 31, 2010. Subsequent to the post-closing review, the Company is liable to pay, or otherwise reimburse QBE amounts up to $10.0 million for net adverse development on prior accident years net claims and claim expenses. Conversely, if prior accident years net claims and claim expenses experience net favorable development, QBE is liable to pay, or otherwise reimburse the Company amounts up to $10.0 million. The Company has recognized a $10.0 million liability and corresponding expense related to the Reserve Collar due to purported net adverse development on prior accident years net claims and claim expenses. The $10.0 million represents the maximum amount payable under the Reserve Collar. LETTERS OF CREDIT AND OTHER COMMITMENTS At December 31, 2011, the Company’s banks have issued letters of credit of approximately $576.8 million in favor of certain ceding companies. In connection with the Company’s Top Layer Re joint venture, the Company has committed $37.5 million of collateral to support a letter of credit and is obligated to make a mandatory capital contribution of up to $50.0 million in the event that a loss reduces Top Layer Re’s capital and surplus below a specified level. The letters of credit are secured by cash and investments of similar amounts. The Company’s principal letter of credit facility contains certain financial covenants. At December 31, 2011, RenaissanceRe has provided guarantees in the amount of $371.2 million to certain counterparties of the weather and energy risk operations of Renaissance Trading. In the future, RenaissanceRe may issue guarantees for other purposes or increase the amount of guarantees issued to counterparties of Renaissance Trading. In addition, the Company's weather and energy risk operations have entered into certain service contract commitments at December 31, 2011 of $7.1 million. On April 29, 2009, Renaissance Reinsurance entered into a Master Reimbursement Agreement (the “Reimbursement Agreement”) and a Pledge Agreement (the “Pledge Agreement”) with Citibank Europe PLC (“CEP”). The Reimbursement Agreement provides for the issuance and renewal of letters of credit by CEP from time to time in its sole discretion, which are used to support business written by Syndicate 1458, described above. Letter of credit fees will be payable pursuant to the terms of the Reimbursement Agreement. Two letters of credit in the amount of $109.5 million and £25.0 million, respectively, were issued by CEP on April 29, 2009, having an expiration date of December 31, 2013. At December 31, 2011, these letters of credit amounted to $118.5 million and £24.5 million, respectively. Pursuant to the Pledge Agreement, Renaissance Reinsurance has agreed to pledge and maintain certain securities with a collateral value equal to 75% of the aggregate amount of the then outstanding letters of credit. In respect of the 25% unsecured portion, Renaissance Reinsurance is required to comply with certain financial covenants, including maintaining a certain minimum financial strength rating, minimum net worth, and a maximum consolidated debt to capital ratio for the consolidated group. In the event Renaissance Reinsurance is unable to satisfy any of these financial covenants, it will be required to pledge additional collateral in respect of the unsecured portion. PRIVATE EQUITY AND INVESTMENT COMMITMENTS The Company has committed capital to private equity partnerships and other entities of $684.0 million, of which $540.6 million has been contributed at December 31, 2011. The Company’s remaining commitments to these funds at December 31, 2011 totaled $144.6 million. These commitments do not have a defined contractual commitment date. INDEMNIFICATIONS AND WARRANTIES In the ordinary course of its business, the Company may enter into contracts or agreements that contain indemnifications or warranties. Future events could occur that lead to the execution of these provisions against the Company. Based on past experience, management currently believes that the likelihood of such an event is remote. OPERATING LEASES The Company and its subsidiaries lease office space under operating leases which expire at various dates through 2019. Future minimum lease payments under existing operating leases are expected to be as follows:
CAPITAL LEASES The Company’s capital leases primarily relate to office space in Bermuda. The initial lease term is for 20 years, with a bargain renewal option for an additional 30 years. The future minimum lease payments of the Company’s capital leases are detailed below, and relate principally to the transaction noted above, excluding the bargain renewal option.
LITIGATION The Company and its subsidiaries are subject to lawsuits and regulatory actions in the normal course of business that do not arise from or directly relate to claims on reinsurance treaties or contracts or direct surplus lines insurance policies. This category of business litigation may involve allegations of underwriting or claims-handling errors or misconduct, employment claims, regulatory actions or disputes arising from the Company's business ventures. The Company's operating subsidiaries are subject to claims litigation involving disputed interpretations of policy coverages. Generally, the Company's direct surplus lines insurance operations are subject to greater frequency and diversity of claims and claims-related litigation than its reinsurance operations and, in some jurisdictions, may be subject to direct actions by allegedly injured persons or entities seeking damages from policyholders. These lawsuits, involving claims on policies issued by the Company's subsidiaries which are typical to the insurance industry in general and in the normal course of business, are considered in its loss and loss expense reserves which are discussed in its loss reserves discussion. In addition, the Company may from time to time engage in litigation or arbitration related to its claims for payment in respect of ceded reinsurance. Any such litigation or arbitration contains an element of uncertainty, and the Company believes the inherent uncertainty in such matters may have increased recently and will likely continue to increase. Currently, the Company believes that no individual litigation or arbitration to which it is presently a party is likely to have a material adverse effect on its financial condition, business or operations. |
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The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Results (Unaudited) (Notes)
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Dec. 31, 2011
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| Quarterly Financial Data [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Quarterly Financial Information | QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
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The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries
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| Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries | CONDENSED CONSOLIDATING FINANCIAL INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT OF SUBSIDIARIES The following tables present condensed consolidating balance sheets at December 31, 2011 and 2010, condensed consolidating statements of operations for the years ended December 31, 2011, 2010 and 2009, and condensed consolidating statements of cash flows for the years ended December 31, 2011, 2010, and 2009, respectively, for RenaissanceRe, RRNAH and RenaissanceRe’s other subsidiaries. RRNAH is a wholly owned subsidiary of RenaissanceRe. On March 17, 2010, RRNAH issued, and RenaissanceRe guaranteed, $250.0 million of 5.75% Senior Notes due March 15, 2020, with interest on the notes payable on March 15 and September 15. The notes can be redeemed by RRNAH prior to maturity, subject to payment of a “make-whole” premium. The notes, which are senior obligations, contain various covenants, including limitations on mergers and consolidations, restrictions as to the disposition of the stock of designated subsidiaries and limitations on liens of the stock of designated subsidiaries.
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- Definition
Tabular disclosure of the condensed financial statements (balance sheet, income statement and statement of cash flows), normally using the registrant (parent) as the sole domain member. If condensed consolidating financial statements are being presented, other domain members (in addition to parent) such as guarantor subsidiaries, non-guarantor subsidiaries, and the consolidation eliminations, will be included in order that the respective monetary amounts for each of the domains will aggregate to the respective amounts on the consolidated financial statements. The line items are the various captions used to compile the condensed financial statements. Using extensions, most, if not all, of the elements representing condensed financial statement captions will be the same as those used for the consolidated financial statements captions. No definition available.
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Schedule I. Summary of Investments Other Than Investments in Related Parties
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Dec. 31, 2011
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| Summary of Investments, Other than Investments in Related Parties [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Investments, Other than Investments in Related Parties | SCHEDULE I RENAISSANCERE HOLDINGS LTD. AND SUBSIDIARIES SUMMARY OF INVESTMENTS OTHER THAN INVESTMENTS IN RELATED PARTIES (THOUSANDS OF UNITED STATES DOLLARS)
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- Definition
The entire disclosure for the schedule applicable to insurance companies summarizing investments held as of the most recent audited balance sheet. At a minimum, such summary is by three major categories of investments including: (1) fixed maturities primarily consisting of bonds, including convertibles and bonds with warrants, and redeemable preferred stocks, (2) equity securities primarily consisting of common stocks and nonredeemable preferred stocks, and (3) other investments including mortgage loans on real estate, real estate held for investment, real estate acquired in satisfaction of debt, policy loans, other long-term investments, and short-term investments not otherwise categorized. The information provided with respect to each item within each category includes: (A) the original cost of equity securities and, as to fixed maturity securities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts, (B) fair value as of the reporting date, and (C) the amount at which the item within each category is shown in the statement of financial position; with respect to (C), if the amount at which shown in the statement of financial position is different from the items original [amortized] cost or fair value, an explanation of the difference may be included herein. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Schedule II. Condensed Financial Information Of Registrant
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Dec. 31, 2011
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| Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Financial Information of Parent Company Only Disclosure | SCHEDULE II RENAISSANCERE HOLDINGS LTD. CONDENSED FINANCIAL INFORMATION OF REGISTRANT RENAISSANCERE HOLDINGS LTD. BALANCE SHEETS AT DECEMBER 31, 2011 AND 2010 (PARENT COMPANY) (THOUSANDS OF UNITED STATES DOLLARS)
SCHEDULE II RENAISSANCERE HOLDINGS LTD. CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED RENAISSANCERE HOLDINGS LTD. STATEMENTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2011, 2010 AND 2009 (PARENT COMPANY) (THOUSANDS OF UNITED STATES DOLLARS)
SCHEDULE II RENAISSANCERE HOLDINGS LTD. CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED RENAISSANCERE HOLDINGS LTD. STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2011, 2010 AND 2009 (PARENT COMPANY) (THOUSANDS OF UNITED STATES DOLLARS)
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- Definition
The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Schedule III. Supplementary Insurance Information
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Dec. 31, 2011
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| Supplementary Insurance Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplementary Insurance Information, Disclosure | SCHEDULE III RENAISSANCERE HOLDINGS LTD. AND SUBSIDIARIES SUPPLEMENTARY INSURANCE INFORMATION (THOUSANDS OF UNITED STATES DOLLARS)
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The entire disclosure for required supplementary insurance information giving segment detail in support of various balance sheet and income statement captions. The balance sheet information generally is presented as of the date of each audited balance sheet filed, and the income statement information generally is presented for each period for which an audited income statement is required to be filed. Supplementary insurance information table includes segment name; deferred policy acquisition costs; future policy benefits, losses, claims and loss expenses; unearned premiums; other policy claims and benefits payable; premium revenue; net investment income; benefits, claims, losses and settlement expenses; amortization of deferred policy acquisition costs; other operating expenses; and premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Schedule IV. Reinsurance
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Dec. 31, 2011
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| Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplemental Schedule of Reinsurance Premiums for Insurance Companies | SCHEDULE IV RENAISSANCERE HOLDINGS LTD. AND SUBSIDIARIES REINSURANCE (THOUSANDS OF UNITED STATES DOLLARS)
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The entire disclosure for the supplemental schedule of reinsurance information required to be filed for each period for which an audited income statement is presented. Reinsurance schedule includes the type of insurance, gross amount of premiums, premiums ceded to other companies, premiums assumed from other companies, net amount of premium revenue, and the percentage of the premiums assumed to net premium revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Schedule VI. Supplementary Insurance Information Concerning Property/Casualty Insurance Operations
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Dec. 31, 2011
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| Supplemental Information for Property, Casualty Insurance Underwriters [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Supplemental Information for Property, Casualty Insurance Underwriters | SCHEDULE VI RENAISSANCERE HOLDINGS LTD. AND SUBSIDIARIES SUPPLEMENTARY INSURANCE INFORMATION CONCERNING PROPERTY-CASUALTY INSURANCE OPERATIONS (THOUSANDS OF UNITED STATES DOLLARS)
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The entire disclosure for the supplemental schedule of information for an entity who has a consolidated property-casualty insurance underwriter, unconsolidated property-casualty subsidiary or fifty percent-or-less owned property-casualty equity investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Significant Accounting Policies (Policy)
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Dec. 31, 2011
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| Accounting Policies [Abstract] | |
| Basis of Presentation | The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) and include the accounts of RenaissanceRe and its wholly owned and majority-owned subsidiaries and DaVinciRe. All significant intercompany transactions and balances have been eliminated on consolidation. Except as discussed in “Note 3. Discontinued Operations,” and unless otherwise noted, the notes to the consolidated financial statements reflect the Company’s continuing operations. Certain prior year comparatives have been reclassified to conform to the current year presentation. |
| Use of Estimates in Financial Statements | The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported and disclosed amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. The major estimates reflected in the Company’s consolidated financial statements include, but are not limited to, the reserve for claims and claim expenses, reinsurance recoverables, including allowances for reinsurance recoverables deemed uncollectible, estimates of written and earned premiums, fair value, including the fair value of investments, financial instruments and derivatives, impairment charges and the Company’s net deferred tax asset. |
| Discontinued Operations | The results of operations of substantially all of the Company’s U.S.-based insurance operations sold to QBE are classified as held for sale and are reported as discontinued operations in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic Discontinued Operations. The consolidated financial statements and notes thereto are presented excluding the operations and cash flows of the discontinued operations from the continuing operations of the Company since the Company will not have any significant continuing involvement in the operations after the sale. The financial position and results of operations of discontinued operations are presented as single line items on the consolidated balance sheets and statements of operations, respectively. Certain prior year comparatives have been reclassified to conform to the current year presentation. |
| Premiums | Premiums are recognized as income, net of any applicable reinsurance or retrocessional coverage purchased, over the terms of the related contracts and policies. Premiums written are based on contract and policy terms and include estimates based on information received from both insureds and ceding companies. Subsequent differences arising on such estimates are recorded in the period in which they are determined. Unearned premiums represents the portion of premiums written that relate to the unexpired terms of contracts and policies in force. Amounts are computed by pro-rata methods based on statistical data or reports received from ceding companies. Reinstatement premiums are estimated after the occurrence of a significant loss and are recorded in accordance with the contract terms based upon paid losses and case reserves. Reinstatement premiums are earned when written. |
| Acquisition Costs | Acquisition costs, consisting principally of commissions, brokerage and premium tax expenses incurred at the time a contract or policy is issued, are deferred and amortized over the period in which the related premiums are earned. Deferred policy acquisition costs are limited to their estimated realizable value based on the related unearned premiums. Anticipated claims and claim expenses, based on historical and current experience, and anticipated investment income related to those premiums are considered in determining the recoverability of deferred acquisition costs. |
| Claims and Claim Expenses | The reserve for claims and claim expenses includes estimates for unpaid claims and claim expenses on reported losses as well as an estimate of losses incurred but not reported. The reserve is based on individual claims, case reserves and other reserve estimates reported by insureds and ceding companies as well as management estimates of ultimate losses. Inherent in the estimates of ultimate losses are expected trends in claim severity and frequency and other factors which could vary significantly as claims are settled. Also, during the past few years, the Company has increased its specialty reinsurance business, but does not have the benefit of a significant amount of its own historical experience in certain of these lines of business. Accordingly, the setting and reserving for incurred losses in these lines of business could be subject to greater variability. Ultimate losses may vary materially from the amounts provided in the consolidated financial statements. These estimates are reviewed regularly and, as experience develops and new information becomes known, the reserves are adjusted as necessary. Such adjustments, if any, are reflected in the consolidated statements of operations in the period in which they become known and are accounted for as changes in estimates. |
| Reinsurance | Amounts recoverable from reinsurers are estimated in a manner consistent with the claim liability associated with the reinsured policies. For multi-year retrospectively rated contracts, the Company accrues amounts (either assets or liabilities) that are due to or from assuming companies based on estimated contract experience. If the Company determines that adjustments to earlier estimates are appropriate, such adjustments are recorded in the period in which they are determined. Reinsurance recoverables on dual trigger reinsurance contracts require the Company to estimate its ultimate losses applicable to these contracts as well as estimate the ultimate amount of insured industry losses that will be reported by the applicable statistical reporting agency, as per the contract terms. Amounts recoverable from reinsurers are recorded net of a valuation allowance for estimated uncollectible recoveries. Assumed and ceded reinsurance contracts that lack a significant transfer of risk are treated as deposits. |
| Fixed Maturity Investments and Equity Investments, Classified as Trading | Fixed Maturity Investments Investments in fixed maturities are classified as available for sale or trading and are reported at fair value. Investment transactions are recorded on the trade date with balances pending settlement reflected in the balance sheet as a receivable for investments sold or a payable for investments purchased. Net investment income includes interest and dividend income together with amortization of market premiums and discounts and is net of investment management and custody fees. The amortization of premium and accretion of discount for fixed maturity securities is computed using the effective yield method. For mortgage-backed securities and other holdings for which there is prepayment risk, prepayment assumptions are evaluated quarterly and revised as necessary. Any adjustments required due to the change in effective yields and maturities are recognized on a prospective basis through yield adjustments. Fair values of investments are based on quoted market prices, or when such prices are not available, by reference to broker or underwriter bid indications and/or internal pricing valuation techniques. The net unrealized appreciation or depreciation on fixed maturity investments available for sale is included in accumulated other comprehensive income. The net unrealized appreciation or depreciation on fixed maturity investments trading is included in net realized and unrealized gains on investments in the consolidated statements of operations. Realized gains or losses on the sale of investments are determined on the basis of the first in first out cost method and, for fixed maturity investments available for sale, include adjustments to the cost basis of investments for declines in value that are considered to be other-than-temporary. Other-Than-Temporary Impairment Effective April 1, 2009 The Company recognizes other-than-temporary impairments in earnings for its impaired fixed maturity securities available for sale (i) for which the Company has the intent to sell the security or (ii) it is more likely than not that the Company will be required to sell the debt security before its anticipated recovery and (iii) for those securities which have a credit loss. In assessing whether a credit loss exists, the Company compares the present value of the cash flows expected to be collected from the security with the amortized cost basis of the security. In instances in which a determination is made that an impairment exists but the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security before the anticipated recovery of its remaining amortized cost basis, the impairment is separated into (i) the amount of the total impairment related to the credit loss and (ii) the amount of the total impairment related to all other factors. The amount of the total other-than-temporary impairment related to the credit loss is recognized in earnings. The amount of the total other-than-temporary impairment related to all other factors is recognized in other comprehensive income. In periods after the recognition of other-than-temporary impairments on the Company’s fixed maturity securities available for sale, the Company accounts for such securities as if they had been purchased on the measurement date of the other-than-temporary impairment at an amortized cost basis equal to the previous amortized cost basis less the other-than-temporary impairment recognized in earnings. For debt securities in which other-than-temporary impairments were recognized in earnings, the difference between the new amortized cost basis and the cash flows expected to be collected will be amortized into net investment income. Other-Than-Temporary Impairment Process Prior to April 1, 2009 Under the pre-existing guidance, which was in effect for the three months ended March 31, 2009, the Company assessed, on a quarterly basis, whether declines in the fair value of its fixed maturity investments available for sale represented impairments that were other-than-temporary based on several factors. The factors the Company considered in the assessment of a security included: (i) the time period during which there had been a significant decline below cost; (ii) the extent of the decline below cost; (iii) the Company’s intent and ability to hold the security; (iv) the potential for the security to recover in value; (v) an analysis of the financial condition of the issuer; and (vi) an analysis of the collateral structure and credit support of the security, if applicable. Where the Company determined that there was an other-than-temporary decline in the fair value of the security, the cost of the security was written down to its fair value and the unrealized loss at the time of determination was reflected in the Company’s consolidated statements of operations. Equity Investments, Classified as Trading Equity investments are accounted for at fair value in accordance with FASB ASC Topic Financial Instruments. Fair values are primarily priced by pricing services, reflecting the closing price quoted for the final trading day of the period. Net investment income includes dividend income and the net realized and unrealized appreciation or depreciation on equity investments is included in net realized and unrealized gains on investments in the consolidated statements of operations. |
| Short Term Investments and Cash and Cash Equivalents | Short Term Investments and Cash and Cash Equivalents Short term investments, which are managed as part of the Company’s investment portfolio and have a maturity of one year or less when purchased, are carried at amortized cost, which approximates fair value. The net unrealized appreciation or depreciation on short term investments is included in net realized and unrealized gains on investments in the consolidated statements of operations. Cash equivalents include money market instruments with a maturity of ninety days or less when purchased. |
| Other Investments | Other Investments The Company accounts for its other investments at fair value in accordance with FASB ASC Topic Financial Instruments. The fair value of certain of the Company's fund investments, which principally include hedge funds, private equity funds, senior secured bank loan funds and non-U.S. fixed income funds, are recorded on its balance sheet in other investments, and is generally established on the basis of the net valuation criteria established by the managers of such investments, if applicable. The net valuation criteria established by the managers of such investments is established in accordance with the governing documents of such investments. Certain of the Company's fund managers, fund administrators, or both, are unable to provide final fund valuations as of the Company's current reporting date. The typical reporting lag experienced by the Company to receive a final net asset value report is one month for hedge funds, senior secured bank loan funds and non-U.S. fixed income funds and three months for private equity funds, although, in the past, in respect of certain of the Company's private equity funds, the Company has on occasion experienced delays of up to six months at year end, as the private equity funds typically complete their respective year-end audits before releasing their final net asset value statements. In circumstances where there is a reporting lag between the current period end reporting date and the reporting date of the latest fund valuation, the Company estimates the fair value of these funds by starting with the prior month or quarter-end fund valuations, adjusting these valuations for actual capital calls, redemptions or distributions, as well as the impact of changes in foreign currency exchange rates, and then estimating the return for the current period. In circumstances in which the Company estimates the return for the current period, all information available to the Company is utilized. This principally includes preliminary estimates reported to the Company by its fund managers, obtaining the valuation of underlying portfolio investments where such underlying investments are publicly traded and therefore have a readily observable price, using information that is available to the Company with respect to the underlying investments, reviewing various indices for similar investments or asset classes, as well as estimating returns based on the results of similar types of investments for which the Company has obtained reported results, or other valuation methods, where possible. Actual final fund valuations may differ, perhaps materially so, from the Company's estimates and these differences are recorded in the Company's statement of operations in the period in which they are reported to the Company as a change in estimate. |
| Investments in Other Ventures | Investments in Other Ventures Investments in which the Company has significant influence over the operating and financial policies of the investee are classified as investments in other ventures, under equity method, and are accounted for under the equity method of accounting. Under this method, the Company records its proportionate share of income or loss from such investments in its results for the period. Any decline in value of investments in other ventures, under equity method considered by management to be other-than-temporary is charged to income in the period in which it is determined. |
| Stock Incentive Compensation | STOCK INCENTIVE COMPENSATION The Company is authorized to issue restricted stock awards and units, stock options and other equity-based awards to its employees and directors. The fair value of the compensation cost is measured at the grant date and expensed over the period for which the employee is required to provide services in exchange for the award. Forfeiture benefits are estimated on a quarterly basis and incorporated in the determination of stock-based compensation. |
| Derivatives | The Company enters into derivative instruments such as futures, options, swaps, forward contracts and other derivative contracts in order to manage its foreign currency exposure, obtain exposure to a particular financial market, for yield enhancement, or for trading and speculation. The Company accounts for its derivatives in accordance with FASB ASC Topic Derivatives and Hedging, which requires all derivatives to be recorded at fair value on the Company’s balance sheet as either assets or liabilities, depending on their rights or obligations, with changes in fair value reflected in current earnings. The Company does not currently apply hedge accounting. The fair value of the Company’s derivatives are estimated by reference to quoted prices or broker quotes, where available, or in the absence of quoted prices or broker quotes, the use of industry or internal valuation models. |
| Fair Value | The Company accounts for certain of its assets and liabilities at fair value in accordance with FASB ASC Topic Fair Value Measurements and Disclosures. The Company recognizes the change in unrealized gains and losses arising from changes in fair value in its statements of operations, with the exception of changes in unrealized gains and losses on its fixed maturity investments available for sale, which are recognized as a component of accumulated other comprehensive (loss) income in shareholders’ equity. |
| Business Combinations | The Company accounts for business combinations in accordance with FASB ASC Topic Business Combinations, and goodwill and other intangible assets that arise from business combinations in accordance with FASB ASC Topic Intangibles – Goodwill and Other. |
| Goodwill and Other Intangible Assets | A purchase price that is in excess of the fair value of the net assets acquired arising from a business combination is recorded as goodwill, and is not amortized. Other intangible assets with a finite life are amortized over the estimated useful life of the asset. Other intangible assets with an indefinite useful life are not amortized. Goodwill and other indefinite life intangible assets are tested for impairment on an annual basis or more frequently if events or changes in circumstances indicate that the carrying amount may not be recoverable. Definite life intangible assets are reviewed for indicators of impairment on an annual basis or more frequently if events or changes in circumstances indicate that the carrying amount may not be recoverable, and tested for impairment if appropriate. For purposes of the annual impairment evaluation, goodwill is assigned to the applicable reporting unit of the acquired entities giving rise to the goodwill. Goodwill and other intangible assets recorded in connection with investments accounted for under the equity method, are recorded as “Investments in other ventures, under equity method” on the Company’s consolidated balance sheets. The Company has established September 30 as the date for performing its annual impairment tests. If goodwill or other intangible assets are impaired, they are written down to their estimated fair value with a corresponding expense reflected in the Company’s consolidated statements of operations. |
| Noncontrolling Interests | The Company accounts for its noncontrolling interest in the shareholders’ equity section of the Company’s consolidated balance sheet in accordance with FASB ASC Topic Consolidations, and presents such noncontrolling shareholders' interest in the net assets of the subsidiary. Net income (loss) attributable to noncontrolling interests is presented separately in the Company’s consolidated statements of operations. In addition, the Company accounts for its redeemable noncontrolling interest in DaVinciRe in the mezzanine section of the Company’s consolidated balance sheet in accordance with Securities and Exchange Commission (“SEC”) guidance which is applicable to SEC registrants. The SEC guidance requires shares, not required to be accounted for in accordance with FASB ASC Topic Distinguishing Liabilities from Equity, and having redemption features that are not solely within the control of the issuer, to be classified outside of permanent equity in the mezzanine section of the balance sheet. Because the share classes related to the redeemable noncontrolling interest portion of DaVinciRe are not considered liabilities in accordance with FASB ASC Topic Distinguishing Liabilities from Equity and have redemption features that are not solely within the control of DaVinciRe, the redeemable noncontrolling interest in DaVinciRe is presented in the mezzanine section on the Company’s consolidated balance sheet in accordance with the SEC guidance noted above. The SEC guidance does not impact the accounting for redeemable noncontrolling interest on the consolidated statements of operations; therefore, the provisions of FASB ASC Topic Consolidation with respect to the consolidated statements of operations still apply. |
| Variable Interest Entities | The Company accounts for variable interest entities (“VIE”) in accordance with FASB ASC Topic Consolidation, which requires the consolidation of all VIE’s by the primary beneficiary, that being the investor that has the power to direct the activities of the VIE and will absorb a majority of the VIE’s expected losses or residual returns. The Company determines whether it is the primary beneficiary of a VIE by performing an analysis that principally considers: (i) the VIE’s purpose and design, including the risks the VIE was designed to create and pass through to its variable interest holders; (ii) the VIE’s capital structure; (iii) the terms between the VIE and its variable interest holders and other parties involved with the VIE; (iv) which variable interest holders have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; (v) which variable interest holders have the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE; and (vi) related party relationships. The Company reassesses its initial evaluation of an entity as a VIE upon the occurrence of certain reconsideration events. The Company reassesses its determination of whether the Company is the primary beneficiary of a VIE upon changes in facts and circumstances that could potentially alter the Company’s assessment. |
| Earnings Per Share | The Company calculates earnings per share in accordance with FASB ASC Topic Earnings per Share. Basic earnings per share are based on weighted average common shares and exclude any dilutive effects of options and restricted stock. Diluted earnings per share assumes the exercise of all dilutive stock options and restricted stock grants. The two-class method is used to determine earnings per share based on dividends declared on common stock and participating securities (i.e. distributed earnings) and participation rights of participating securities in any undistributed earnings. Unvested restricted stock granted by the Company to its employees is considered a participating security and the Company uses the two-class method to calculate its net (loss) income (attributable) available to RenaissanceRe common shareholders per common share – basic and diluted. |
| Foreign Exchange | The Company’s functional currency is the U.S. dollar. Revenues and expenses denominated in foreign currencies are translated at the prevailing exchange rate at the transaction date. Monetary assets and liabilities denominated in foreign currencies are translated at exchange rates in effect at the balance sheet date, which may result in the recognition of exchange gains or losses which are included in the determination of net (loss) income. |
| Taxation | Income taxes have been provided in accordance with the provisions of FASB ASC Topic Income Taxes. Deferred tax assets and liabilities result from temporary differences between the amounts recorded in the consolidated financial statements and the tax basis of the Company’s assets and liabilities. Such temporary differences are primarily due to net operating loss carryforwards and GAAP versus tax basis accounting differences relating to accrued expenses, investments and tax sharing obligations. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance against deferred tax assets is recorded if it is more likely than not that all, or some portion, of the benefits related to deferred tax assets will not be realized. |
| Taxation, Uncertainties | Uncertain tax positions are also accounted for in accordance with FASB ASC Topic Income Taxes. Uncertain tax positions must meet a more-likely-than-not recognition threshold to be recognized. |
| Description of New Accounting Pronouncements Not yet Adopted | RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Accounting for Costs Associated with Acquiring or Renewing Insurance Contracts In October 2010, the FASB issued Accounting Standards Update (“ASU”) No. 2010-26, Accounting for Costs Associated with Acquiring or Renewing Insurance Contracts (“ASU 2010-26”), which amends FASB ASC Topic Financial Services - Insurance. ASU 2010-26 modifies the definition of the types of costs that can be capitalized in relation to the acquisition of new and renewal insurance contracts. The amended guidance requires costs to be incremental or directly related to the successful acquisition of new or renewal contracts in order to be capitalized as a deferred acquisition cost. Capitalized costs would include incremental direct costs, such as commissions paid to brokers. Additionally, the portion of employee salaries and benefits directly related to time spent for acquired contracts would be capitalized. Costs that fall outside the revised definition must be expensed when incurred. ASU 2010-26 will be effective for fiscal periods beginning on or after December 15, 2011 with prospective or retroactive application permitted. The Company is currently evaluating the potential impacts of the adoption of ASU 2010-26, but does not currently expect this standard to have a material impact on its consolidated statements of operations and financial condition. Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs In May 2011, the FASB issued ASU No. 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs (“ASU 2011-04”), which amends FASB ASC Topic Fair Value Measurement. ASU 2011-04 was issued to provide largely identical guidance about fair value measurement and disclosure requirements with the International Accounting Standards Board's new International Financial Reporting Standards (“IFRS”) 13, Fair Value Measurement. ASU 2011-04 does not extend the use of fair value but, rather, provides guidance about how fair value should be applied where it is already required or permitted under GAAP and requires enhanced disclosures covering all transfers between Levels 1 and 2 of the fair value hierarchy. Additional disclosures covering Level 3 assets are also required. ASU 2011-04 will be effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. Early adoption is not permitted. The Company is currently evaluating the potential impacts of the adoption of ASU 2011-04, but does not currently expect this standard to have a material impact on its consolidated statements of operations and financial condition. Presentation of Comprehensive Income In June 2011, the FASB issued ASU 2011-05, Presentation of Comprehensive Income (“ASU 2011-05”), which amends FASB ASC Topic Comprehensive Income. ASU 2011-05 increases the prominence of items reported in other comprehensive income and eliminates the option to present components of other comprehensive income as part of the statement of changes in shareholders' equity. ASU 2011-05 requires that all non-owner changes in shareholders' equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. ASU 2011-05 will be effective for fiscal years, and interim periods within those years, beginning after December 15, 2011, with retroactive application required. The Company is currently evaluating the potential impacts of the adoption of ASU 2011-05, but does not currently expect this standard to have a material impact on its consolidated statements of operations, consolidated statements of comprehensive (loss) income, or its financial condition. |
| X | ||||||||||
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- Definition
Disclosure of accounting policy for short term investments and cash and cash equivalents, including the policy for determining which items are treated as short term investments and cash equivalents and whether the carrying amount of short term investments and cash equivalents approximates fair value. No definition available.
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for other investments in financial assets, including private equity partnerships, senior secured bank loan funds, catastrophe bonds, non-U.S. fixed income funds, hedge funds and miscellaneous other investments. May describe its policy for assessing, recognizing and measuring impairment of the investment. No definition available.
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- Details
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- Definition
Disclosure of accounting policy for completed business combinations (purchase method, acquisition method or combination of entities under common control). This accounting policy may include a general discussion of the purchase method or acquisition method of accounting (including for example, the treatment accorded contingent consideration, the identification of assets and liabilities, the purchase price allocation process, how the fair values of acquired assets and liabilities are determined) and the entity's specific application thereof. An entity that acquires another entity in a leveraged buyout transaction generally discloses the accounting policy followed by the acquiring entity in determining the basis used to value its interest in the acquired entity, and the rationale for that accounting policy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for deferred policy acquisition costs, including the nature, type, and amount of capitalized costs incurred to write or acquire insurance contracts, and the basis for and methodologies applied in capitalizing and amortizing such costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for subsidiaries or other investments that are consolidated, including the accounting treatment for intercompany accounts or transactions and any noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for consolidation to describe the significant judgments and assumptions made in determining whether a variable interest held by the entity requires the variable interest entity to be consolidated and (or) disclose information about its involvement with the variable interest entity; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; and the significant factors considered and judgments made in determining that the power to direct the activities that significantly impact the economic performance of the variable interest entity are shared (as defined). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for its derivative instruments and hedging activities. Disclosure may include: (1) Each method used to account for derivative financial instruments and derivative commodity instruments ("derivatives"); (2) the types of derivatives accounted for under each method; (3) the criteria required to be met for each accounting method used, including a discussion of the criteria required to be met for hedge or deferral accounting and accrual or settlement accounting (for example, whether and how risk reduction, correlation, designation, and effectiveness tests are applied); (4) the accounting method used if the criteria specified for hedge accounting are not met; (5) the method used to account for termination of derivatives designated as hedges or derivatives used to affect directly or indirectly the terms, fair values, or cash flows of a designated item; (6) the method used to account for derivatives when the designated item matures, is sold, is extinguished, or is terminated. In addition, the method used to account for derivatives designated to an anticipated transaction, when the anticipated transaction is no longer likely to occur; and (7) where and when derivatives, and their related gains or losses are reported in the statement of financial position, cash flows, and results of operations and (8) an accounting policy decision to offset fair value amounts with counterparties. An entity may also describe its embedded derivatives, and the method(s) used to determine the fair values of derivatives and any significant assumptions used in such valuations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The entire disclosure for a new accounting pronouncement that has been issued but not yet adopted. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for any discontinued operations. The results of operations of a component of an entity that either has been disposed of or is classified as held for sale is reported in discontinued operations if both: (a) the operations and cash flows of the component have been (or will be) eliminated from the ongoing operations of the entity as a result of the disposal transaction and (b) the entity will not have any significant continuing involvement in the operations of the component after the disposal transaction. If the entity elects to allocate interest expense to a discontinued operation, it may disclose its accounting policy for this election and describe its method of allocation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for the equity method of accounting for investments in common stock or other interests including unconsolidated subsidiaries, corporate joint ventures, noncontrolling interests in real estate ventures, limited partnerships, and limited liability companies. The accounting policy may include information such as: (1) initially recording an investment in the stock of an investee at cost; (2) adjusting the carrying amount of the investment to recognize the investor's share of the earnings or losses of the investee after the date of acquisition; and (3) adjustments to reflect the investor's share of changes in the investee's capital (dividends). This disclosure may also include a detailed description of the policy for determining the amount of equity method losses recognized after an investment has been reduced to zero as a result of previous losses, reasons for not using the equity method when the investor company owns 20 percent or more of the voting stock of the investee's company (including identification of the significant investee), reasons for using the equity method when the ownership percentage is less than 20 percent, and discussion of recognition of equity method losses when an investor's total investment in an investee includes, in addition to an investment in common stock, other investments such as preferred stock and loans to the investee. An entity also may describe how such investments are assessed for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for determining the fair value of financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for tax positions taken in the Company's tax return filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of contingencies related to income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for investments in debt and equity securities that have readily determinable fair values (marketable securities). At a minimum, the disclosure might address accounting policies for investments classified as trading, available for sale, or held to maturity and may include how the entity determines whether impairments of available for sale or held to maturity investments are other than temporary, how the fair values of the entity's securities are determined, and the entity's accounting treatment for transfers between investment categories. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for ceded reinsurance transactions on the financial statements, and description of the methodologies and assumptions underlying determination of reinsurance recoverables and reinsurance payables. If applicable, the assumptions pertaining to foreign-based reinsurance, and the nature and effect of material nonrecurring reinsurance transactions. May also state that the ceding insurer is not relieved of its primary obligation to policyholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for determining revenue and timing of recognition as revenue of premiums received from policyholders, insureds and other insurance entities (the effects of ceding and assuming insurance policy risks) for the entity's insurance products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for estimating the ultimate cost of settling insurance claims relating to insured events that have occurred on or before a particular date (ordinarily, the statement of financial position date). The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claims adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Discontinued Operations Discontinued Operations (Tables)
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Dec. 31, 2011
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| Discontinued Operation, Income (Loss) from Discontinued Operation Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures | Details of the assets, liabilities and shareholder’s equity of discontinued operations held for sale at December 31, 2011 and 2010 are as follows:
Details of the (loss) income from discontinued operations for the years ended December 31, 2011, 2010 and 2009 are as follows:
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Other Intangible Assets (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Goodwill and Other Intangible Assets | The following table shows an analysis of goodwill and other intangible assets for the years ended December 31, 2010 and 2011:
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| Schedule of Goodwill and Other Intangible Assets Included in Other Ventures, Under Equity Method | The following table shows an analysis of goodwill and other intangible assets included in investments in other ventures, under equity method for the years ended December 31, 2010 and 2011:
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| Schedule of Finite-Lived Intangible Assets by Major Class | The gross carrying value and accumulated amortization by major category of other intangible assets is shown below:
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| Schedule of Expected Impairment Charges and Amortization Expense | Expected amortization of the other intangible assets, including other intangible assets recorded in investments in other ventures, under equity method, is shown below:
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| X | ||||||||||
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- Definition
Tabular disclosure of the aggregate amount of goodwill and intangible assets included in Investment in other ventures, under equity method. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the estimated aggregate amortization expense for intangible assets subject to amortization for each of the five succeeding fiscal years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of amortizable intangibles assets, in total and by major class, including the gross carrying amount and accumulated amortization. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the aggregate amount of goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investments (Tables)
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Dec. 31, 2011
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| Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Fair Value Of Fixed Maturity Investments Trading | The following table summarizes the fair value of fixed maturity investments trading:
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| Schedule Of Fair Value Of Fixed Maturity Investments Available For Sale | The following table summarizes the amortized cost, fair value and related unrealized gains and losses and non-credit other-than-temporary impairments of fixed maturity investments available for sale:
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| Schedule Of Contractual Maturities Of Fixed Maturity Investments | Contractual maturities of fixed maturity investments are as follows. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
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| Schedule Of Fair Value Of Equity Investments Trading | The following table summarizes the fair value of equity investments trading:
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| Schedule Of Net Investment Income | The components of net investment income are as follows:
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| Schedule Of Net Realized And Unrealized Gains On Investments And Net Other-Than-Temporary Impairments | Net realized and unrealized gains on investments and net other-than-temporary impairments are as follows:
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| Schedule Of Fixed Maturity Investments Available For Sale In Continual Unrealized Loss Position | The following table provides an analysis of the length of time the Company’s fixed maturity investments available for sale in an unrealized loss have been in a continual unrealized loss position.
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| Rollforward Of The Amount Of Other-Than-Temporary Impairments Related To Credit Losses Recognized in Earnings For Which A Portion Of An Other-Than-Temporary Impairment Was Recognized In Accumulated Other Comprehensive Income | The following table provides a rollforward of the amount of other-than-temporary impairments related to credit losses recognized in earnings for which a portion of an other-than-temporary impairment was recognized in accumulated other comprehensive income for the year ended December 31, 2011 and 2010:
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| Schedule Of Other Investments | The table below shows the fair value of the Company’s portfolio of other investments:
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| Schedule Of Investments In Other Ventures, Under Equity Method | The table below shows the Company’s portfolio of investments in other ventures, under equity method:
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| Schedule Of Equity in (Losses) Earnings Of Other Ventures, Under Equity Method | The table below shows the Company’s equity in (losses) earnings of other ventures, under equity method:
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- Definition
Tabular disclosure of the equity in earnings (losses) of other ventures, under equity method. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the fair value of investments in common stocks and other forms of securities that provide ownership interests in a corporation. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the fair value of other investments not otherwise specified in the taxonomy. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of investment income derived from investments in debt and equity securities consisting of interest income earned from investments in debt securities and on cash and cash equivalents, dividend income from investments in equity securities, and income or expense derived from the amortization of investment related discounts or premiums, respectively. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. No definition available.
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| X | ||||||||||
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- Definition
For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of trading securities (and certain trading assets) which consist of all investments in certain debt and equity securities (and other assets) that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for which an entity has elected the fair value option. Trading generally reflects active and frequent buying and selling, and trading securities are generally used with the objective of generating profits on short-term differences in price, but this category of investments may also include items which are not intended to be sold in the near term or for which the fair value option has been elected. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis | Below is a summary of the assets and liabilities that are measured at fair value on a recurring basis and also represents the carrying amount on the Company’s consolidated balance sheet at December 31, 2011 and 2010:
(1) See "Note 18. Derivative Instruments" for additional information related to the fair value by type of contract, of derivatives entered into by the Company.
(1) See "Note 18. Derivative Instruments" for additional information related to the fair value by type of contract, of derivatives entered into by the Company. |
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| Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Level 3 Inputs | Below is a reconciliation of the beginning and ending balances, for the periods shown, of assets and liabilities measured at fair value on a recurring basis using Level 3 inputs. Interest and dividend income are included in net investment income and are excluded from the reconciliation.
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| Schedule Of The Balances The Company Has Elected To Account For At Fair Value | Below is a summary of the balances the Company has elected to account for at fair value:
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| Schedule Of Other Investments Measured Using Net Asset Valuations | The table below shows the Company’s portfolio of other investments measured using net asset valuations:
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- Definition
Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Tabular disclosure of the fair value of investees that calculate net asset value per share (including by unit, membership interest, or other equity (ownership interest) unit measure) (alternative investments), whether measured at fair value on a recurring or nonrecurring basis, by major category of assets and liabilities (as defined), including, for example, (i) fair value measurements at the reporting date, (ii) the level within the fair value hierarchy in which the fair value measurements fall, (iii) a reconciliation of beginning and ending balances for those alternative investments that are measured at fair value using unobservable inputs (Level 3 - fair value hierarchy fair value measurement inputs), (iv) the inputs and valuation techniques used to measure fair value, (v) a discussion of changes to valuation techniques and inputs, if any, during the period, (vi) a description of the nature and risk associated with the alternative investments, and (vii) a discussion of the probability that any of the alternative investments are to be sold. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Ceded Reinsurance (Tables)
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Dec. 31, 2011
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| Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Effect Of Reinsurance And Retrocessional Activity On Premiums Written And Earned And On Net Claims And Claim Expenses | The following tables set forth the effect of reinsurance and retrocessional activity on premiums written and earned and on net claims and claim expenses incurred:
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- Definition
Schedule of Effect of Reinsurance on Premiums Written and Earned and Net Claims and Claim Expenses Incurred [Table Text Block] No definition available.
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- Details
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Reserve for Claims and Claim Expenses (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Liability for Unpaid Claims and Claim Expenses | Activity in the liability for unpaid claims and claim expenses is summarized as follows:
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| Schedule of Liability for Unpaid Claims and Claims Adjustment Expense by Business Segment | The following table details the Company's prior year development by segment of its liability for unpaid claims and claim expenses:
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| Liability for Catastrophe Claims Disclosure | The following table details the development of the Company's liability for unpaid claims and claim expenses for its Reinsurance segment for the year ended December 31, 2011 split between its catastrophe reinsurance unit and its specialty reinsurance unit and then further split between catastrophe claims and claim expenses and attritional claims and claim expenses:
The following table details the development of the Company's liability for unpaid claims and claim expenses for its Reinsurance segment for the year ended December 31, 2010 split between its catastrophe reinsurance unit and its specialty reinsurance unit and then further split between catastrophe claims and claim expenses and attritional claims and claim expenses:
The following table details the development of the Company's liability for unpaid claims and claim expenses for its Reinsurance segment for the year ended December 31, 2009 split between its property catastrophe reinsurance unit and its specialty reinsurance unit and then further split between catastrophe claims and claim expenses and attritional claims and claim expenses:
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Lloyd's [Member]
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| Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Liability for Unpaid Claims and Claims Adjustment Expense by Business Segment | The following table details the development of the Company's liability for unpaid claims and claim expenses for its Lloyd's segment for the years ended December 31, 2011, 2010 and 2009:
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Insurance [Member]
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| Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Liability for Unpaid Claims and Claims Adjustment Expense by Business Segment | The following table details the development of the Company's liability for unpaid claims and claim expenses for its Insurance segment for the years ended December 31, 2011, 2010 and 2009:
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense by Business Segment [Table Text Block] No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the risk of loss equal to the estimated amount of payments on costs of settling insured claims and costs incurred in the claims settlement process and future benefit payments resulting from conflagration, earthquake, windstorm, explosion, or similar event resulting in substantial losses that have occurred as of the balance sheet date, identified by business segment and country. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Maturities of Long-term Debt | The following table sets forth the Company’s aggregate amount of maturities related to the Company’s debt obligations reflected on its consolidated balance sheet at December 31, 2011:
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- Details
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- Definition
Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Noncontrolling Interests (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Redeemable Noncontrolling Interest | The activity in redeemable noncontrolling interest – DaVinciRe is detailed in the table below:
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| Schedule Of Noncontrolling Interest | The activity in noncontrolling interest is detailed in the table below:
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- Definition
Schedule Of Minority Interest [Table Text Block] No definition available.
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- Details
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- Definition
Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Shareholders' Equity (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Stockholders' Equity Note [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Rollforward of Common Stock Outstanding | The following table is a summary of changes in common shares issued and outstanding:
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- Definition
A summary of changes in common shares issued and outstanding. No definition available.
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- Details
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Earnings Per Share (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Computation Of Basic And Diluted Earnings Per Common Share | The following table sets forth the computation of basic and diluted earnings per common share:
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- Details
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- Definition
Tabular disclosure of an entity's basic and diluted earnings per share calculations. No definition available.
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Taxation (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Income before Income Tax, Domestic and Foreign | The following is a summary of the Company’s income from continuing operations before taxes allocated between U.S. and non-U.S. jurisdictions:
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| Schedule of Components of Income Tax Benefit (Expense) | Income tax benefit (expense) is comprised as follows:
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| Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the difference between the provision for income taxes and the expected tax provision at the weighted average tax rate is as follows:
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| Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:
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- Details
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- Definition
Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of income before income tax between domestic and foreign jurisdictions. No definition available.
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Segment Reporting (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Segment Reporting, Measurement Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Significant Components Of The Company's Revenues And Expenses | A summary of the significant components of the Company's revenues and expenses is as follows:
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| Schedule Of Gross Premiums Written Allocated To The Territory Of Coverage Exposure | The following is a summary of the Company’s gross premiums written allocated to the territory of coverage exposure:
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| X | ||||||||||
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- Definition
Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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Stock Incentive Compensation and Employee Benefit Plans (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Share-based Payment Award, Performance Shares, Valuation Assumptions | The fair value of each performance share is valued on the date of grant using the Monte-Carlo Simulation model with the following weighted average-assumptions for all shares issued in each respective year:
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| Schedule of Share-based Compensation, 2001 Stock Incentive and Non-Employee Director Stock Incentive Plans and Premium Option Plan | 2001 Stock Incentive and Non-Employee Director Stock Incentive Plans
Premium Option Plan
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| Schedule of Share-based Compensation, Cash Settled Restricted Stock Unit Plan and Performance-Based Equity Incentive Plan | 2010 Cash Settled Restricted Stock Unit Plan and 2010 Performance-Based Equity Incentive Plan
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| Schedule of Share-based Compensation, Restricted Stock | Restricted Stock
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| X | ||||||||||
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- Definition
Tabular disclosure of the significant assumptions used during the year to estimate the fair value of performance share, including, but not limited to: (a) expected term of performance shares and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, and (d) risk-free rate(s). No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the changes in outstanding nonvested restricted stock units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivative Instruments (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Summary of Derivative Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Location on Consolidated Balance Sheets and Fair Value Of Principal Derivative Instruments | The table below shows the location on the consolidated balance sheets and fair value of the Company’s principal derivative instruments:
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| Schedule of Gain (Loss) Recognized In Consolidated Statements Of Operations Related Derivative Instruments | The location and amount of the gain (loss) recognized in the Company’s consolidated statements of operations related to its derivative instruments is shown in the following table:
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| Schedule of Gross Derivative Contract Positions Outstanding Relating To Energy And Weather Derivatives Trading Activities | The Company had the following gross derivative contract positions outstanding relating to its energy and weather derivatives trading activities.
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| X | ||||||||||
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- Definition
Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the notional amounts of outstanding derivative positions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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Commitments and Contingencies (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Future Minimum Rental Payments, Operating Leases | Future minimum lease payments under existing operating leases are expected to be as follows:
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| Schedule of Future Minimum Lease Payments, Capital Leases | The future minimum lease payments of the Company’s capital leases are detailed below, and relate principally to the transaction noted above, excluding the bargain renewal option.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Results (Unaudited) (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
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| Quarterly Financial Data [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Quarterly Financial Information |
|
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Dec. 31, 2011
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| Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Consolidating Balance Sheet |
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| Condensed Consolidating Statement Of Operations |
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| Condensed Consolidating Statement Of Cash Flows |
|
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Dimension comprising the condensed consolidating balance sheet with domain members including parent, guarantor subsidiaries, non-guarantor subsidiaries, and the consolidation eliminations, and will be included in order that the respective monetary amounts for each of the domains will aggregate to the respective amounts on the consolidated financial statements. The line items are the various captions used to compile the consolidated financial statements. Using extensions, most, if not all, of the elements representing the condensed consolidating financial statement captions will be the same as those used for the consolidated financial statements captions. No definition available.
|
| X | ||||||||||
|
- Definition
Dimension comprising the condensed consolidating statement of cash flows with domain members including parent, guarantor subsidiaries, non-guarantor subsidiaries, and the consolidation eliminations, and will be included in order that the respective monetary amounts for each of the domains will aggregate to the respective amounts on the consolidated financial statements. The line items are the various captions used to compile the consolidated financial statements. Using extensions, most, if not all, of the elements representing the condensed consolidating financial statement captions will be the same as those used for the consolidated financial statements captions. No definition available.
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| X | ||||||||||
|
- Definition
Dimension comprising the condensed consolidating statement of operations with domain members including parent, guarantor subsidiaries, non-guarantor subsidiaries, and the consolidation eliminations, and will be included in order that the respective monetary amounts for each of the domains will aggregate to the respective amounts on the consolidated financial statements. The line items are the various captions used to compile the consolidated financial statements. Using extensions, most, if not all, of the elements representing the condensed consolidating financial statement captions will be the same as those used for the consolidated financial statements captions. No definition available.
|
|
Discontinued Operations (Details) (USD $)
|
0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 04, 2011
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||
| Net consideration | $ 269,500,000 | $ 269,520,000 | $ 0 | $ 0 | ||||||||
| Assets of Discontinued Operations Held for Sale | ||||||||||||
| Total assets of discontinued operations held for sale | 0 | 872,147,000 | 0 | 872,147,000 | ||||||||
| Fixed maturity investments trading, Amortized cost | 4,265,929,000 | 3,859,442,000 | 4,265,929,000 | 3,859,442,000 | ||||||||
| Fixed maturity investments available-for-sale, Amortized cost | 130,669,000 | 225,549,000 | 130,669,000 | 225,549,000 | ||||||||
| Liabilities of Discontinued Operations Held for Sale | ||||||||||||
| Total liabilities of discontinued operations held for sale | 13,507,000 | 598,511,000 | 13,507,000 | 598,511,000 | ||||||||
| Expenses | ||||||||||||
| (Loss) income from discontinued operations | (3,305,000) | (965,000) | (10,094,000) | (1,526,000) | 11,108,000 | 21,234,000 | 18,881,000 | 11,447,000 | (15,890,000) | 62,670,000 | 6,700,000 | |
|
U.S.-based Insurance Operations, Held-for-sale [Member]
|
||||||||||||
| Assets of Discontinued Operations Held for Sale | ||||||||||||
| Fixed maturity investments trading, at fair value (Amortized cost $0 and $157,744 at December 31, 2011 and 2010, respectively) | 0 | 156,282,000 | 0 | 156,282,000 | ||||||||
| Fixed maturity investments available for sale, at fair value (Amortized cost $0 and $529 at December 31, 2011 and 2010, respectively) | 0 | 529,000 | 0 | 529,000 | ||||||||
| Short-term investments, at fair value | 0 | 59,594,000 | 0 | 59,594,000 | ||||||||
| Total investments | 0 | 216,405,000 | 0 | 216,405,000 | ||||||||
| Cash and cash equivalents | 0 | 53,713,000 | 0 | 53,713,000 | ||||||||
| Premiums receivable | 0 | 290,962,000 | 0 | 290,962,000 | ||||||||
| Prepaid reinsurance premiums | 0 | 17,179,000 | 0 | 17,179,000 | ||||||||
| Reinsurance recoverable | 0 | 82,420,000 | 0 | 82,420,000 | ||||||||
| Accrued investment income | 0 | 1,240,000 | 0 | 1,240,000 | ||||||||
| Deferred acquisition costs | 0 | 15,743,000 | 0 | 15,743,000 | ||||||||
| Other assets | 0 | 27,832,000 | 0 | 27,832,000 | ||||||||
| Goodwill and other intangibles | 0 | 57,034,000 | 0 | 57,034,000 | ||||||||
| Amounts due from affiliates | 0 | 109,619,000 | 0 | 109,619,000 | ||||||||
| Total assets of discontinued operations held for sale | 0 | 872,147,000 | 0 | 872,147,000 | ||||||||
| Fixed maturity investments trading, Amortized cost | 0 | 157,744,000 | 0 | 157,744,000 | ||||||||
| Fixed maturity investments available-for-sale, Amortized cost | 0 | 529,000 | 0 | 529,000 | ||||||||
| Liabilities of Discontinued Operations Held for Sale | ||||||||||||
| Reserve for claims and claim expenses | 0 | 274,189,000 | 0 | 274,189,000 | ||||||||
| Unearned premiums | 0 | 114,443,000 | 0 | 114,443,000 | ||||||||
| Reinsurance balances payable | 0 | 143,711,000 | 0 | 143,711,000 | ||||||||
| Other liabilities | 13,507,000 | 66,168,000 | 13,507,000 | 66,168,000 | ||||||||
| Total liabilities of discontinued operations held for sale | 13,507,000 | 598,511,000 | 13,507,000 | 598,511,000 | ||||||||
| Shareholder's Equity of Discontinued Operations Held for Sale | ||||||||||||
| Total shareholder's equity of discontinued operations held for sale | (13,507,000) | 273,636,000 | (13,507,000) | 273,636,000 | ||||||||
| Total liabilities and shareholder's equity of discontinued operations held for sale | 0 | 872,147,000 | 0 | 872,147,000 | ||||||||
| Revenues | ||||||||||||
| Gross premiums written | 21,546,000 | 478,308,000 | 500,051,000 | |||||||||
| Net premiums written | (44,935,000) | 290,188,000 | 368,064,000 | |||||||||
| Decrease in unearned premiums | 66,137,000 | 16,037,000 | 23,548,000 | |||||||||
| Net premiums earned | 21,202,000 | 306,225,000 | 391,612,000 | |||||||||
| Net investment income | 339,000 | 5,082,000 | 5,802,000 | |||||||||
| Other (loss) income | (9,904,000) | 5,811,000 | 223,000 | |||||||||
| Net realized and unrealized gains (losses) on fixed maturity investments | 42,000 | 6,769,000 | (517,000) | |||||||||
| Net other-than-temporary impairments | 0 | 0 | (31,000) | |||||||||
| Total revenues | 11,679,000 | 323,887,000 | 397,089,000 | |||||||||
| Expenses | ||||||||||||
| Net claims and claim expenses incurred | 8,430,000 | 113,186,000 | 267,985,000 | |||||||||
| Acquisition expenses | 6,059,000 | 68,777,000 | 85,625,000 | |||||||||
| Operational expenses | 7,272,000 | 67,236,000 | 36,134,000 | |||||||||
| Corporate expenses | 770,000 | 5,567,000 | 1,582,000 | |||||||||
| Total expenses | 22,531,000 | 254,766,000 | 391,326,000 | |||||||||
| (Loss) income before taxes | (10,852,000) | 69,121,000 | 5,763,000 | |||||||||
| Income tax (expense) benefit | (5,038,000) | (6,451,000) | 937,000 | |||||||||
| (Loss) income from discontinued operations | (15,890,000) | 62,670,000 | 6,700,000 | |||||||||
|
Reserve Collar [Member] | Potential Payables, Adverse Development on Net Claims and Claim Expenses, Prior Accident Years, Maximum [Member] | U.S.-based Insurance Operations, Held-for-sale [Member]
|
||||||||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||
| Payable or reimbursement to QBE | 10,000,000 | 10,000,000 | ||||||||||
|
Reserve Collar [Member] | Potential Receivables, Favorable Development on Net Claims and Claim Expenses, Prior Accident Years, Maximum [Member] | U.S.-based Insurance Operations, Held-for-sale [Member]
|
||||||||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||
| Receivable or reimbursement from QBE | 10,000,000 | 10,000,000 | ||||||||||
|
Reserve Collar [Member] | U.S.-based Insurance Operations, Held-for-sale [Member]
|
||||||||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||
| Expense recognized related to the reserve liability | $ 10,000,000 | |||||||||||
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Accrued Investment Income Receivable No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Available-for-sale Securities, Debt Securities No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Benefits, Losses and Expenses No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Change In Unearned Premium, Net No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Deferred Policy Acquisition Cost, Amortization Expense No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Deferred Policy Acquisition Costs No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Due from Affiliates No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Gain (Loss) on Investments No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, General and Administrative Expense No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Goodwill and Intangible Assets, Net No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Gross Premiums Written, Direct and Assumed No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Investments No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Liabilities and Equity No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Liability for Claims and Claims Adjustment Expense No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Net Investment Income No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Other Cost and Expense, Operating No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Other Income No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Other Short-term Investments No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Policyholder Benefits and Claims Incurred, Net No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Premiums Earned, Net No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Premiums Written, Net No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Prepaid Reinsurance Premiums No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Reinsurance Payable No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Reinsurance Recoverables No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operations, Premiums Receivable No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Stockholders' Equity Attributable to Parent No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Trading Securities, Debt No definition available.
|
| X | ||||||||||
|
- Definition
Disposal Group, Including Discontinued Operation, Unearned Premiums No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate value (measured at the lower of net carrying value or fair value less cost of disposal) for assets of a disposal group, including a component of the entity (discontinued operation), to be sold or that has been disposed of through sale, as of the financial statement date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Overall income (loss) from a disposal group that is classified as a component of the entity, before income tax, reported as a separate component of income before extraordinary items. Includes the following (before income tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tax effect allocated to a disposal group that is classified as a component of the entity reported as a separate component of income before extraordinary items. Includes the tax effects of the following: income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For the disposal group, including a component of the entity (discontinued operation), cash includes currency on hand as well as demand deposits with banks or financial institutions. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For the disposal group, including a component of the entity (discontinued operation), carrying amount as of the balance sheet date of assets not otherwise specified. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For the disposal group, including a component of the entity (discontinued operation), obligations not otherwise itemized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of sales or other form of revenues attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount or range of possible amounts of gain that could be realized upon the resolution of a contingency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items before deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The obligations arising from the sale, disposal, or planned sale in the near future (generally within one year) of a disposal group, including a component of the entity (discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Reflects the estimated amount of loss from the specified contingency as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of loss pertaining to the specified contingency that was charged against earnings in the period, including the effects of revisions in previously reported estimates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from the sale of a business segment or subsidiary or sale of an entity that is related to it but not strictly controlled during the period (for example, an unconsolidated subsidiary, affiliate, joint venture or equity method investment). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This item represents a parenthetical disclosure for the cost of securities classified as trading. No definition available.
|
|
Goodwill and Other Intangible Assets (Schedule of Intangible Assets and Goodwill) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|||||
| Other intangible assets | |||||||
| Gross amount, End of Period | $ 57,322 | ||||||
| Accumulated impairment losses and amortization, End of Period | (29,786) | ||||||
| Other intangible assets, Net, End of Period | 27,536 | ||||||
| Goodwill and Other intangible assets, Total | |||||||
| Goodwill and Other intangible assets, Net, End of Period | 8,894 | 14,690 | |||||
|
Excluding Equity Method Investments [Member]
|
|||||||
| Goodwill | |||||||
| Goodwill, Gross amount, Beginning of Period | 8,160 | [1] | 8,160 | [1] | |||
| Accumulated impairment losses and amortization, Beginning of Period | 0 | [1] | 0 | [1] | |||
| Goodwill, Net, Beginning of Period | 8,160 | [1] | 8,160 | [1] | |||
| Acquired during the year | 0 | 0 | |||||
| Impairment losses | (2,299) | 0 | |||||
| Goodwill, Gross amount, End of Period | 8,160 | 8,160 | [1] | ||||
| Accumulated impairment losses and amortization, End of Period | (2,299) | 0 | [1] | ||||
| Goodwill, Net, End of Period | 5,861 | 8,160 | [1] | ||||
| Other intangible assets | |||||||
| Gross amount, Beginning of Period | 12,999 | [1] | 12,999 | [1] | |||
| Accumulated impairment losses and amortization, Beginning of Period | (6,469) | [1] | (5,853) | [1] | |||
| Other intangible assets, Net, Beginning of Period | 6,530 | [1] | 7,146 | [1] | |||
| Acquired during the year | 0 | 0 | |||||
| Amortization | (563) | (616) | |||||
| Impairment losses | (2,934) | 0 | |||||
| Gross amount, End of Period | 12,999 | 12,999 | [1] | ||||
| Accumulated impairment losses and amortization, End of Period | (9,966) | (6,469) | [1] | ||||
| Other intangible assets, Net, End of Period | 3,033 | 6,530 | [1] | ||||
| Goodwill and Other intangible assets, Total | |||||||
| Gross amount, Beginning of Period | 21,159 | [1] | 21,159 | [1] | |||
| Accumulated impairment losses and amortization, Beginning of Period | (6,469) | [1] | (5,853) | [1] | |||
| Goodwill and Other intangible assets, Net, Beginning of Period | 14,690 | [1] | 15,306 | [1] | |||
| Acquired during the year | 0 | 0 | |||||
| Amortization | (563) | (616) | |||||
| Impairment losses | (5,233) | 0 | |||||
| Gross amount, End of Period | 21,159 | 21,159 | [1] | ||||
| Accumulated impairment losses and amortization, End of Period | (12,265) | (6,469) | [1] | ||||
| Goodwill and Other intangible assets, Net, End of Period | 8,894 | 14,690 | [1] | ||||
| Goodwill associated with discontinued operations held for sale | 23,700 | 23,700 | |||||
| Intangible assets associated with discontinued operations held for sale | $ 33,300 | $ 37,700 | |||||
|
|||||||
| X | ||||||||||
|
- Definition
Goodwill and Intangible Assets, Accumulated Impairment and Amortization No definition available.
|
| X | ||||||||||
|
- Definition
Goodwill and Intangible Assets, Acquired During Period No definition available.
|
| X | ||||||||||
|
- Definition
Goodwill and Intangible Assets, Gross No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts of all goodwill and intangible assets as of the balance sheet date, net of accumulated amortization and impairment charges. No definition available.
|
| X | ||||||||||
|
- Definition
Intangible Assets, Acquired During Period (Excluding Goodwill) No definition available.
|
| X | ||||||||||
|
- Definition
Intangible Assets (Excluding Goodwill), Accumulated Amortization and Impairment No definition available.
|
| X | ||||||||||
|
- Definition
Intangible Assets, Gross (Excluding Goodwill) No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For the disposal group, including a component of the entity (discontinued operation), carrying amount of goodwill (adjusted for any amortization recognized prior to adoption of FAS 142 and impairment charges). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For the disposal group, including a component of the entity (discontinued operation), carrying value (net of any accumulated amortization and write-downs) of nonphysical assets (such as copyrights, customer lists, patents, trade names, core deposits, trade secrets, and contractual rights), not elsewhere itemized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of goodwill acquired in the period and allocated to the reportable segment. The value is stated at fair value based on the purchase price allocation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Gross amount, as of the balance sheet date, of the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable), in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The accumulated impairment losses related to goodwill as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Loss recognized during the period that results from the write-down of goodwill after comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. Goodwill is assessed at least annually for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of an intangible asset (excluding goodwill) to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Goodwill and Other Intangible Assets (Schedule of Goodwill and Other Intangible Assets Included in Equity Method Investments) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Other intangible assets | ||
| Gross amount, End of Period | $ 57,322 | |
| Accumulated impairment losses and amortization, End of Period | (29,786) | |
| Other intangible assets, Net, End of Period | 27,536 | |
| Goodwill and Other intangible assets, Total | ||
| Goodwill and Other intangible assets, Net, End of Period | 8,894 | 14,690 |
|
Investments in Other Ventures, Under Equity Method [Member]
|
||
| Goodwill | ||
| Goodwill, Gross amount, Beginning of Period | 8,477 | 8,477 |
| Accumulated impairment losses and amortization, Beginning of Period | 0 | 0 |
| Goodwill, Net, Beginning of Period | 8,477 | 8,477 |
| Acquired during the year | 544 | 0 |
| Impairment losses | 0 | 0 |
| Goodwill, Gross amount, End of Period | 9,021 | 8,477 |
| Accumulated impairment losses and amortization, End of Period | 0 | 0 |
| Goodwill, Net, End of Period | 9,021 | 8,477 |
| Other intangible assets | ||
| Gross amount, Beginning of Period | 44,323 | 44,323 |
| Accumulated impairment losses and amortization, Beginning of Period | (14,659) | (8,989) |
| Other intangible assets, Net, Beginning of Period | 29,664 | 35,334 |
| Acquired during the year | 0 | 0 |
| Amortization | (5,161) | (5,670) |
| Impairment losses | 0 | 0 |
| Gross amount, End of Period | 44,323 | 44,323 |
| Accumulated impairment losses and amortization, End of Period | (19,820) | (14,659) |
| Other intangible assets, Net, End of Period | 24,503 | 29,664 |
| Goodwill and Other intangible assets, Total | ||
| Gross amount, Beginning of Period | 52,800 | 52,800 |
| Accumulated impairment losses and amortization, Beginning of Period | (14,659) | (8,989) |
| Goodwill and Other intangible assets, Net, Beginning of Period | 38,141 | 43,811 |
| Acquired during the year | 544 | 0 |
| Amortization | (5,161) | (5,670) |
| Impairment losses | 0 | 0 |
| Gross amount, End of Period | 53,344 | 52,800 |
| Accumulated impairment losses and amortization, End of Period | (19,820) | (14,659) |
| Goodwill and Other intangible assets, Net, End of Period | $ 33,524 | $ 38,141 |
| X | ||||||||||
|
- Definition
Goodwill and Intangible Assets, Accumulated Impairment and Amortization No definition available.
|
| X | ||||||||||
|
- Definition
Goodwill and Intangible Assets, Acquired During Period No definition available.
|
| X | ||||||||||
|
- Definition
Goodwill and Intangible Assets, Gross No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts of all goodwill and intangible assets as of the balance sheet date, net of accumulated amortization and impairment charges. No definition available.
|
| X | ||||||||||
|
- Definition
Intangible Assets, Acquired During Period (Excluding Goodwill) No definition available.
|
| X | ||||||||||
|
- Definition
Intangible Assets (Excluding Goodwill), Accumulated Amortization and Impairment No definition available.
|
| X | ||||||||||
|
- Definition
Intangible Assets, Gross (Excluding Goodwill) No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of goodwill acquired in the period and allocated to the reportable segment. The value is stated at fair value based on the purchase price allocation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Gross amount, as of the balance sheet date, of the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable), in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The accumulated impairment losses related to goodwill as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Loss recognized during the period that results from the write-down of goodwill after comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. Goodwill is assessed at least annually for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of an intangible asset (excluding goodwill) to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Goodwill and Other Intangible Assets (Schedule of Finite-Lived Intangible Assets by Major Class) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2011
years
|
|
| Schedule of Finite and Indefinite-lived Intangible Assets [Line Items] | |
| Gross carrying value | $ 57,322 |
| Accumulated amortization and impairment losses | (29,786) |
| Other intangible assets, Net | 27,536 |
| Finite-Lived Intangible Assets, Useful Life, Minimum (in years) | 2 |
| Finite-Lived Intangible Assets, Useful Life, Maximum (in years) | 25 |
| Finite-Lived Intangible Assets, Weighted-Average Useful Life (in years) | 11 |
|
Customer Relationships and Customer Lists [Member]
|
|
| Schedule of Finite and Indefinite-lived Intangible Assets [Line Items] | |
| Gross carrying value | 39,485 |
| Accumulated amortization and impairment losses | (16,777) |
| Other intangible assets, Net | 22,708 |
|
Covenants Not-to-Compete [Member]
|
|
| Schedule of Finite and Indefinite-lived Intangible Assets [Line Items] | |
| Gross carrying value | 2,130 |
| Accumulated amortization and impairment losses | (1,065) |
| Other intangible assets, Net | 1,065 |
|
Patents and Intellectual Property [Member]
|
|
| Schedule of Finite and Indefinite-lived Intangible Assets [Line Items] | |
| Gross carrying value | 4,500 |
| Accumulated amortization and impairment losses | (4,134) |
| Other intangible assets, Net | 366 |
|
Software [Member]
|
|
| Schedule of Finite and Indefinite-lived Intangible Assets [Line Items] | |
| Gross carrying value | 8,730 |
| Accumulated amortization and impairment losses | (7,725) |
| Other intangible assets, Net | 1,005 |
|
Trademarks and Trade Names [Member]
|
|
| Schedule of Finite and Indefinite-lived Intangible Assets [Line Items] | |
| Gross carrying value | 610 |
| Accumulated amortization and impairment losses | (85) |
| Other intangible assets, Net | 525 |
|
Lloyd's Managing Agency License [Member]
|
|
| Schedule of Finite and Indefinite-lived Intangible Assets [Line Items] | |
| Gross carrying value | 1,867 |
| Accumulated amortization and impairment losses | 0 |
| Other intangible assets, Net | $ 1,867 |
| X | ||||||||||
|
- Definition
Intangible Assets (Excluding Goodwill), Accumulated Amortization and Impairment No definition available.
|
| X | ||||||||||
|
- Definition
Intangible Assets, Gross (Excluding Goodwill) No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The maximum useful life of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The minimum useful life of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The calculated weighted-average useful life of all finite-lived intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Goodwill and Other Intangible Assets (Schedule of Expected Impairment Charges and Amortization Expense) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2011
|
|
| Schedule of Finite and Indefinite-lived Intangible Assets [Line Items] | |
| 2012 | $ 5,062 |
| 2013 | 4,354 |
| 2014 | 3,514 |
| 2015 | 2,817 |
| 2016 and thereafter | 9,922 |
| Total remaining amortization expense | 25,669 |
| Indefinite lived | 1,867 |
| Total | 27,536 |
|
Other Intangible Assets [Member]
|
|
| Schedule of Finite and Indefinite-lived Intangible Assets [Line Items] | |
| 2012 | 409 |
| 2013 | 375 |
| 2014 | 209 |
| 2015 | 173 |
| 2016 and thereafter | 0 |
| Total remaining amortization expense | 1,166 |
| Indefinite lived | 1,867 |
| Total | 3,033 |
|
Other Intangible Assets [Member] | Investments in Other Ventures, Under Equity Method [Member]
|
|
| Schedule of Finite and Indefinite-lived Intangible Assets [Line Items] | |
| 2012 | 4,653 |
| 2013 | 3,979 |
| 2014 | 3,305 |
| 2015 | 2,644 |
| 2016 and thereafter | 9,922 |
| Total remaining amortization expense | 24,503 |
| Indefinite lived | 0 |
| Total | $ 24,503 |
| X | ||||||||||
|
- Definition
Future Amortization Expense, Year Five and after Year Five No definition available.
|
| X | ||||||||||
|
- Definition
Future Impairment Charges and Amortization Expense No definition available.
|
| X | ||||||||||
|
- Definition
Future Impairment Charges, Intangible Assets No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate estimated amortization expense for succeeding fiscal years for intangible assets subject to amortization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of amortization expense expected to be recognized during year four of the five succeeding fiscal years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of amortization expense expected to be recognized during year one of the five succeeding fiscal years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of amortization expense expected to be recognized during year three of the five succeeding fiscal years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of amortization expense expected to be recognized during year two of the five succeeding fiscal years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments (Narrative) (Details) (USD $)
|
3 Months Ended | 12 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Mar. 31, 2009
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Investment [Line Items] | ||||||||||||
| Cash and investments at fair value on deposit with, or in trust accounts for the benefit of various counterparties | $ 1,292,700,000 | $ 1,292,700,000 | ||||||||||
| Cash and investments at fair value on deposit with, or in trust accounts for the benefit of, U.S. state regulatory authorities | 403,400,000 | 403,400,000 | ||||||||||
| Net other-than-temporary impairments recognized in earnings | 103,000 | 449,000 | 0 | 0 | 0 | 0 | 796,000 | 33,000 | 19,000,000 | 552,000 | 829,000 | 22,450,000 |
| Portion recognized in other comprehensive income, before taxes | (29,000) | (49,000) | 0 | 0 | 0 | 0 | (2,000) | 0 | ||||
| Portion of other-than-temporary impairments recognized in other comprehensive income | 78,000 | 2,000 | 4,518,000 | |||||||||
|
Recognized Due To Intent To Sell Securities [Member]
|
||||||||||||
| Investment [Line Items] | ||||||||||||
| Portion of other-than-temporary impairments recognized in other comprehensive income | 0 | 0 | 1,300,000 | |||||||||
|
Recognized Due To Required Sales Of Securities [Member]
|
||||||||||||
| Investment [Line Items] | ||||||||||||
| Portion of other-than-temporary impairments recognized in other comprehensive income | $ 0 | $ 0 | $ 0 | |||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount of cash and investment securities on deposit with state regulatory authorities in connection with capital requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of cash and securities held by third party trustees pursuant to terms of debt instruments or other agreements as of the date of each statement of financial position presented, which can be used by the trustee only to pay the noncurrent portion of specified obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment (OTTI) loss on a debt security, categorized as either Available-for-sale or Held-to-maturity, related to factors other than credit losses when the entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis. This amount, which includes the portion attributable to the noncontrolling interest, if any, is deducted from the total impairment losses of investments (before taxes) presented on the income statement; this amount is also referred to as the amount incurred by the reporting entity or the consolidated entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment (OTTI) loss on a debt security, categorized as Available-for-sale, related to factors other than credit losses when the entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis. This amount, which includes the portion attributable to the noncontrolling interest, if any, is a portion of the deduction from the total impairment losses of investments (before taxes) presented on the income statement; this amount is also referred to as the amount incurred by the reporting entity or the consolidated entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment losses on investments in debt and equity securities categorized as Available-for-sale which have been recognized in earnings during the period. Such impairment losses consist of other than temporary impairments (OTTI) on equity securities, credit losses on investments in debt securities, and when the entity intends to sell an impaired debt security or it is more likely than not that the entity will be required to sell the impaired debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments (Schedule Of Fair Value Of Fixed Maturity Investments Trading) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | $ 4,291,465 | $ 3,871,780 |
|
U.S. treasuries [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 885,152 | 761,461 |
|
Agencies [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 158,561 | 216,963 |
|
Non-U.S. government (Sovereign Debt) [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 216,916 | 157,867 |
|
FDIC guaranteed corporate [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 423,630 | 388,468 |
|
Non-U.S. government-backed corporate [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 640,757 | 356,119 |
|
Corporate [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 1,187,437 | 1,476,029 |
|
Agency mortgage-backed [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 428,042 | 383,403 |
|
Non-agency mortgage-backed [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 82,096 | 5,765 |
|
Commercial mortgage-backed [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 255,885 | 125,705 |
|
Asset-backed [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | $ 12,989 | $ 0 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Debt securities that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for debt securities formerly categorized as available-for-sale or held-to-maturity which the entity held as of the date it opted to account for such securities at fair value. An enterprise may also categorize such a security as trading without the intent to sell it in the near term assuming the decision to categorize the security as trading occurred at acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments (Schedule Of Fair Value Of Fixed Maturity Investments Available for Sale) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
|
Dec. 31, 2010
|
||||
|---|---|---|---|---|---|---|
| Amortized Cost | $ 130,669 | $ 225,549 | ||||
| Available for Sale, Fair Value | 142,052 | 244,917 | ||||
|
Fixed Maturity Investments [Member]
|
||||||
| Amortized Cost | 130,669 | 225,549 | ||||
| Gross Unrealized Gains | 12,197 | 20,042 | ||||
| Gross Unrealized Losses | (814) | (674) | ||||
| Available for Sale, Fair Value | 142,052 | 244,917 | ||||
| Non-Credit Other-Than-Temporary Impairments | (2,013) | [1] | (4,479) | [1] | ||
|
Non-U.S. Government (Sovereign Debt) [Member]
|
||||||
| Amortized Cost | 10,087 | 23,836 | ||||
| Gross Unrealized Gains | 921 | 2,830 | ||||
| Gross Unrealized Losses | (12) | (146) | ||||
| Available for Sale, Fair Value | 10,996 | 26,520 | ||||
| Non-Credit Other-Than-Temporary Impairments | 0 | [1] | 0 | [1] | ||
|
Non-U.S. Government Backed-Corporate [Member]
|
||||||
| Amortized Cost | 312 | 1,332 | ||||
| Gross Unrealized Gains | 13 | 53 | ||||
| Gross Unrealized Losses | 0 | 0 | ||||
| Available for Sale, Fair Value | 325 | 1,385 | ||||
| Non-Credit Other-Than-Temporary Impairments | 0 | [1] | 0 | [1] | ||
|
Corporate [Member]
|
||||||
| Amortized Cost | 18,449 | 33,018 | ||||
| Gross Unrealized Gains | 1,535 | 3,768 | ||||
| Gross Unrealized Losses | (517) | (404) | ||||
| Available for Sale, Fair Value | 19,467 | 36,382 | ||||
| Non-Credit Other-Than-Temporary Impairments | (176) | [1] | (1,818) | [1] | ||
|
Agency mortgage-backed [Member]
|
||||||
| Amortized Cost | 12,636 | 17,159 | ||||
| Gross Unrealized Gains | 1,071 | 1,245 | ||||
| Gross Unrealized Losses | 0 | 0 | ||||
| Available for Sale, Fair Value | 13,707 | 18,404 | ||||
| Non-Credit Other-Than-Temporary Impairments | 0 | [1] | 0 | [1] | ||
|
Non-agency mortgage-backed [Member]
|
||||||
| Amortized Cost | 21,097 | 24,972 | ||||
| Gross Unrealized Gains | 1,862 | 3,452 | ||||
| Gross Unrealized Losses | (284) | (40) | ||||
| Available for Sale, Fair Value | 22,675 | 28,384 | ||||
| Non-Credit Other-Than-Temporary Impairments | (1,837) | [1] | (2,063) | [1] | ||
|
Commercial mortgage-backed [Member]
|
||||||
| Amortized Cost | 63,269 | 86,194 | ||||
| Gross Unrealized Gains | 6,576 | 7,570 | ||||
| Gross Unrealized Losses | (1) | (29) | ||||
| Available for Sale, Fair Value | 69,844 | 93,735 | ||||
| Non-Credit Other-Than-Temporary Impairments | 0 | [1] | 0 | [1] | ||
|
Asset-backed [Member]
|
||||||
| Amortized Cost | 4,819 | 39,038 | ||||
| Gross Unrealized Gains | 219 | 1,124 | ||||
| Gross Unrealized Losses | 0 | (55) | ||||
| Available for Sale, Fair Value | 5,038 | 40,107 | ||||
| Non-Credit Other-Than-Temporary Impairments | $ 0 | [1] | $ (598) | [1] | ||
|
||||||
| X | ||||||||||
|
- Definition
Accumulated other comprehensive loss related to portion of other than temporary impairment (OTTI) due to factors other than credit losses on debt securities categorized as available-for-sale that an entity does not intend to sell and which it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis of the debt security. The amount represented by this item is net of tax, as applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, total of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the gross unrealized gains for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the gross unrealized losses for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. No definition available.
|
|
Investments (Schedule Of Contractual Maturities Of Fixed Maturity Investments) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Investment Holdings [Line Items] | ||
| Trading, Amortized Cost, Due in less than one year | $ 617,974 | |
| Trading, Amortized Cost, Due after one through five years | 2,029,005 | |
| Trading, Amortized Cost, Due after five through ten years | 719,737 | |
| Trading, Amortized Cost, Due after ten years | 127,223 | |
| Trading, Amortized Cost | 4,265,929 | |
| Trading, Fair Value, Due in less than one year | 619,717 | |
| Trading, Fair Value, Due after one through five years | 2,022,698 | |
| Trading, Fair Value, Due after five through ten years | 730,259 | |
| Trading, Fair Value, Due after ten years | 139,779 | |
| Trading, Fair Value | 4,291,465 | 3,871,780 |
| Available for Sale, Amortized Cost, Due in less than one year | 152 | |
| Available for Sale, Amortized Cost, Due after one through five years | 12,010 | |
| Available for Sale, Amortized Cost, Due after five through ten years | 11,223 | |
| Available for Sale, Amortized Cost, Due after ten years | 5,463 | |
| Available for Sale, Amortized Cost | 130,669 | 225,549 |
| Available for Sale, Fair Value, Due in less than one year | 128 | |
| Available for Sale, Fair Value, Due after one through five years | 12,685 | |
| Available for Sale, Fair Value, Due after five through ten years | 11,791 | |
| Available for Sale, Fair Value, Due after ten years | 6,184 | |
| Available for Sale, Fair Value | 142,052 | 244,917 |
| Debt Securities, Amortized Cost, Due in less than one year | 618,126 | |
| Debt Securities, Amortized Cost, Due after one through five years | 2,041,015 | |
| Debt Securities, Amortized Cost, Due after five through ten years | 730,960 | |
| Debt Securities, Amortized Cost, Due after ten years | 132,686 | |
| Debt Securities, Amortized Cost | 4,396,598 | |
| Debt Securities, Fair Value, Due in less than one year | 619,845 | |
| Debt Securities, Fair Value, Due after one through give years | 2,035,383 | |
| Debt Securities, Fair Value, Due after five through ten years | 742,050 | |
| Debt Securities, Fair Value, Due after ten years | 145,963 | |
| Debt Securities, Fair Value | 4,433,517 | |
|
Mortgage-Backed [Member]
|
||
| Investment Holdings [Line Items] | ||
| Trading, Amortized Cost | 758,975 | |
| Trading, Fair Value | 766,023 | |
| Available for Sale, Amortized Cost | 97,002 | |
| Available for Sale, Fair Value | 106,226 | |
| Debt Securities, Amortized Cost | 855,977 | |
| Debt Securities, Fair Value | 872,249 | |
|
Asset-backed [Member]
|
||
| Investment Holdings [Line Items] | ||
| Trading, Amortized Cost | 13,015 | |
| Trading, Fair Value | 12,989 | |
| Available for Sale, Amortized Cost | 4,819 | |
| Available for Sale, Fair Value | 5,038 | |
| Debt Securities, Amortized Cost | 17,834 | |
| Debt Securities, Fair Value | $ 18,027 |
| X | ||||||||||
|
- Definition
This item represents the fair value of all debt securities grouped by maturity dates and are categorized as available for sale or trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the total of all debt securities grouped by maturity dates, at cost, net of adjustments made for accretion, amortization, other-than-temporary impairments, and hedging, if any, and are classified as available for sale or trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature within one through 5 years of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the fair value of debt securities which are expected to mature after five through ten years of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature within one year of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the fair value of debt securities which are expected to mature after one through five years of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature after ten years of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the fair value of debt securities which are expected to mature after ten years of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature within one year of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the fair value of debt securities which are expected to mature within one year of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the total of all debt securities classified as trading, at cost, net of adjustments made for accretion, amortization and collection of cash, if any. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature within one through 5 years of the balance sheet date and are categorized as trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the fair value of debt securities which are expected to mature after five through ten years of the balance sheet date and are categorized as trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature within one year of the balance sheet date and are categorized as trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the fair value of debt securities which are expected to mature after one through five years of the balance sheet date and are categorized as trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature after ten years of the balance sheet date and are categorized as trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the fair value of debt securities which are expected to mature after ten years of the balance sheet date and are categorized as trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature within one year of the balance sheet date and are categorized as trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the fair value of debt securities which are expected to mature within one year of the balance sheet date and are categorized as trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments, as defined), and fair value hedge accounting adjustments, if any, which are expected to mature after five years and through ten years from the balance sheet date and which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the fair value of debt securities which are expected to mature after five years and through ten years from the balance sheet date and which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments, as defined), and fair value hedge accounting adjustments, if any, which are expected to mature after one year and through five years from the balance sheet date and which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the fair value of debt securities which are expected to mature after one year and through five years from the balance sheet date and which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments, as defined), and fair value hedge accounting adjustments, if any, which are expected to mature after ten years from the balance sheet date and which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the fair value of debt securities which are expected to mature after ten years from the balance sheet date which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments, as defined), and fair value hedge accounting adjustments, if any, which are expected to mature within one year of the balance sheet date and which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the fair value of debt securities which are expected to mature within one year of the balance sheet date and which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, total of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Debt securities that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for debt securities formerly categorized as available-for-sale or held-to-maturity which the entity held as of the date it opted to account for such securities at fair value. An enterprise may also categorize such a security as trading without the intent to sell it in the near term assuming the decision to categorize the security as trading occurred at acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments (Schedule Of Fair Value Of Equity Investments Trading) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Investments [Abstract] | ||
| Equity investments trading | $ 50,560 | $ 0 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total common and preferred stock (which is not mandatorily redeemable, redeemable at the option of the holder, or in any other way classified as liability) equity securities that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for equity securities formerly categorized as available-for-sale or held-to-maturity which the entity held as of the date it opted to account for such securities at fair value. An enterprise may also categorize such a security as trading without the intent to sell it in the near term assuming the decision to categorize the security as trading occurred at acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments (Schedule Of Net Investment Income) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Investment income before investment expenses | $ 128,157 | $ 214,514 | $ 328,861 | ||||||||
| Investment expenses | (10,157) | (10,559) | (10,682) | ||||||||
| Net investment income | 52,331 | (27,940) | 33,328 | 60,281 | 52,503 | 59,570 | 26,173 | 65,709 | 118,000 | 203,955 | 318,179 |
|
Fixed Maturity Investments [Member]
|
|||||||||||
| Investment income before investment expenses | 89,858 | 108,195 | 160,476 | ||||||||
|
Short-Term Investments [Member]
|
|||||||||||
| Investment income before investment expenses | 1,666 | 2,318 | 4,139 | ||||||||
|
Equity Investments [Member]
|
|||||||||||
| Investment income before investment expenses | 471 | 0 | 0 | ||||||||
|
Other Investments, Hedge Funds And Private Equity Investments [Member]
|
|||||||||||
| Investment income before investment expenses | 27,541 | 64,419 | 18,279 | ||||||||
|
Other Investments, Other [Member]
|
|||||||||||
| Investment income before investment expenses | 8,458 | 39,305 | 145,367 | ||||||||
|
Cash And Cash Equivalents [Member]
|
|||||||||||
| Investment income before investment expenses | $ 163 | $ 277 | $ 600 | ||||||||
| X | ||||||||||
|
- Definition
This item represents the total of all interest and dividend income on fixed maturity investments, short term investments, equity investments trading and other investments (including any amortization/accretion of discounts/premiums), interest income earned on cash and cash equivalents and net gain or loss, both realized and unrealized, on other investments. No definition available.
|
| X | ||||||||||
|
- Definition
Total expenses related to the generation of investment income in debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The income earned from investments in securities and property, equipment and other capital assets. It includes rent from property and equipment, dividends from shares in corporations, and interest from bonds, loans, mortgages, derivatives, commercial paper, bank accounts, certificates of deposits, treasuries, and other financial securities. It does not include realized gains and losses on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments (Schedule Of Net Realized And Unrealized Gains On Investments And Net Other-Than-Temporary Impairments) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Mar. 31, 2009
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Gain (Loss) on Investments [Line Items] | ||||||||||||
| Net realized and unrealized gains on investments | $ 23,920 | $ 16,983 | $ 34,979 | $ (5,214) | $ (66,149) | $ 92,342 | $ 70,051 | $ 48,200 | $ 70,668 | $ 144,444 | $ 93,679 | |
| Total other-than-temporary impairments | (132) | (498) | 0 | 0 | 0 | 0 | (798) | (33) | (630) | (831) | (26,968) | |
| Portion recognized in other comprehensive income, before taxes | 78 | 2 | 4,518 | |||||||||
| Net other-than-temporary impairments | (103) | (449) | 0 | 0 | 0 | 0 | (796) | (33) | (19,000) | (552) | (829) | (22,450) |
|
Fixed Maturity Investments [Member]
|
||||||||||||
| Gain (Loss) on Investments [Line Items] | ||||||||||||
| Gross realized gains | 79,358 | 138,814 | 143,173 | |||||||||
| Gross realized losses | (30,659) | (19,147) | (38,655) | |||||||||
| Net realized gains on fixed maturity investments | 48,699 | 119,667 | 104,518 | |||||||||
| Net unrealized gains (losses) on investments trading | 19,404 | 24,777 | (10,839) | |||||||||
|
Equity Securities [Member]
|
||||||||||||
| Gain (Loss) on Investments [Line Items] | ||||||||||||
| Net unrealized gains (losses) on investments trading | $ 2,565 | $ 0 | $ 0 | |||||||||
| X | ||||||||||
|
- Definition
This item represents the gross profit realized on the sale of debt securities categorized as trading or available for sale. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the net profit realized on the sale of debt securities categorized as trading or available for sale. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the gross losses realized on the sale of debt securities categorized as trading or available for sale. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount by which the fair value of an investment in debt and equity securities categorized as Available-for-sale is less than the amortized cost basis or carrying amount of that investment at the balance sheet date and the decline in fair value is deemed to be other than temporary, before considering whether or not such amount is recognized in earnings or other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment (OTTI) loss on a debt security, categorized as Available-for-sale, related to factors other than credit losses when the entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis. This amount, which includes the portion attributable to the noncontrolling interest, if any, is a portion of the deduction from the total impairment losses of investments (before taxes) presented on the income statement; this amount is also referred to as the amount incurred by the reporting entity or the consolidated entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment losses on investments in debt and equity securities categorized as Available-for-sale which have been recognized in earnings during the period. Such impairment losses consist of other than temporary impairments (OTTI) on equity securities, credit losses on investments in debt securities, and when the entity intends to sell an impaired debt security or it is more likely than not that the entity will be required to sell the impaired debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of trading securities held at each balance sheet date, that was included in earnings for the period. Trading securities are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) and the change in net unrealized holding gain (loss) is included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments (Schedule Of Fixed Maturity Investments Available For Sale In Continual Unrealized Loss Position) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Available For Sale Securities, Continuous Unrealized Loss Position, Twelve Months Or Longer | 14 | |
|
Fixed Maturity Investments [Member]
|
||
| Less than 12 Months, Fair Value | $ 12,874 | $ 10,315 |
| Less than 12 Months, Unrealized Losses | (618) | (482) |
| 12 Months or Greater, Fair Value | 1,707 | 5,933 |
| 12 Months or Greater, Unrealized Losses | (196) | (192) |
| Total, Fair Value | 14,581 | 16,248 |
| Total, Unrealized Losses | (814) | (674) |
|
Non-U.S. government (Sovereign Debt) [Member]
|
||
| Less than 12 Months, Fair Value | 915 | 2,363 |
| Less than 12 Months, Unrealized Losses | (9) | (129) |
| 12 Months or Greater, Fair Value | 42 | 291 |
| 12 Months or Greater, Unrealized Losses | (3) | (17) |
| Total, Fair Value | 957 | 2,654 |
| Total, Unrealized Losses | (12) | (146) |
|
Corporate [Member]
|
||
| Less than 12 Months, Fair Value | 3,935 | 2,581 |
| Less than 12 Months, Unrealized Losses | (385) | (285) |
| 12 Months or Greater, Fair Value | 412 | 801 |
| 12 Months or Greater, Unrealized Losses | (132) | (119) |
| Total, Fair Value | 4,347 | 3,382 |
| Total, Unrealized Losses | (517) | (404) |
|
Non-agency mortgage-backed [Member]
|
||
| Less than 12 Months, Fair Value | 8,024 | 0 |
| Less than 12 Months, Unrealized Losses | (224) | 0 |
| 12 Months or Greater, Fair Value | 798 | 1,645 |
| 12 Months or Greater, Unrealized Losses | (60) | (40) |
| Total, Fair Value | 8,822 | 1,645 |
| Total, Unrealized Losses | (284) | (40) |
|
Commercial mortgage-backed [Member]
|
||
| Less than 12 Months, Fair Value | 0 | 2,199 |
| Less than 12 Months, Unrealized Losses | 0 | (29) |
| 12 Months or Greater, Fair Value | 455 | 0 |
| 12 Months or Greater, Unrealized Losses | (1) | 0 |
| Total, Fair Value | 455 | 2,199 |
| Total, Unrealized Losses | (1) | (29) |
|
Asset-backed [Member]
|
||
| Less than 12 Months, Fair Value | 3,172 | |
| Less than 12 Months, Unrealized Losses | (39) | |
| 12 Months or Greater, Fair Value | 3,196 | |
| 12 Months or Greater, Unrealized Losses | (16) | |
| Total, Fair Value | 6,368 | |
| Total, Unrealized Losses | $ (55) |
| X | ||||||||||
|
- Definition
This item represents the number of positions of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for twelve months or longer. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the excess of amortized cost basis over fair value of securities that have been in a loss position for twelve months or longer for those securities which are categorized neither as held-to-maturity nor trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the excess of amortized cost basis over fair value of securities in a loss position and which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities in an unrealized loss position which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the excess of amortized cost basis over fair value of securities that have been in a loss position for less than twelve months for those securities which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for less than twelve months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for twelve months or longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments (Rollforward Of The Amount Of Other-Than-Temporary Impairments Related To Credit Losses Recognized in Earnings For Which A Portion Of An Other-Than-Temporary Impairment Was Recognized In Accumulated Other Comprehensive Income) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
| Balance, beginning | $ 3,098 | $ 9,987 |
| Additions: | ||
| Amount related to credit loss for which an other-than-temporary impairment was not previously recognized | 30 | 0 |
| Amount related to credit loss for which an other-than-temporary impairment was previously recognized | 172 | 70 |
| Reductions: | ||
| Securities sold during the period | (2,736) | (6,959) |
| Securities for which the amount previously recognized in other comprehensive income was recognized in earnings, because the Company intends to sell the security or is more likely than not the Company will be required to sell the security | 0 | 0 |
| Increases in cash flows expected to be collected that are recognized over the remaining life of the security | 0 | 0 |
| Balance, ending | $ 564 | $ 3,098 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This item represents an increase to the cumulative amount of credit losses recognized in earnings for an other than temporary impairment (OTTI) of a debt security held for which a previous OTTI was recognized and the investor does not intend to sell the debt security and it is not more likely than not that the investor will be required to sell the debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents an increase to the cumulative amount of credit losses recognized in earnings for an other than temporary impairment (OTTI) of a debt security held for which no such other than temporary impairment (OTTI) was previously recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cumulative amount of credit losses recognized in earnings related to debt securities held for which a portion of an other than temporary impairment (OTTI) was recognized in other comprehensive income (a component of shareholders' equity). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents reductions in the cumulative amount of credit losses recognized in earnings for an other than temporary impairment (OTTI) of a debt security held due to increases in cash flows expected to be collected and recognized over the remaining life of the security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents reductions in the amount of cumulative losses recognized in earnings for other than temporary impairments (OTTI) for which a portion of the impairment had been recognized in other comprehensive income (a component of shareholders' equity) due to a change in status of the impaired security because of a change in the entity's intent to either sell the impaired security or it has become more likely than not that the entity will be required to sell the security before recovery of its cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents reductions in the cumulative amount of credit losses recognized in earnings for an other than temporary impairment (OTTI) of a debt security because of the sale of impaired securities during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investments (Schedule Of Other Investments) (Details) (USD $)
|
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Schedule of Investments [Line Items] | |||||||||||
| Net investment income | $ 52,331,000 | $ (27,940,000) | $ 33,328,000 | $ 60,281,000 | $ 52,503,000 | $ 59,570,000 | $ 26,173,000 | $ 65,709,000 | $ 118,000,000 | $ 203,955,000 | $ 318,179,000 |
| Net unrealized gains (losses) recognized in earnings | 22,683,000 | 57,540,000 | 88,545,000 | ||||||||
| Other investments | 748,984,000 | 787,548,000 | 748,984,000 | 787,548,000 | |||||||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Initial Commitments | 684,000,000 | 684,000,000 | |||||||||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Commitments Fulfilled | 540,600,000 | 540,600,000 | |||||||||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 144,553,000 | 144,553,000 | |||||||||
|
Other Investments [Member]
|
|||||||||||
| Schedule of Investments [Line Items] | |||||||||||
| Net investment income | 36,000,000 | 103,700,000 | 163,600,000 | ||||||||
|
Other Investments [Member] | Change in Estimate [Member]
|
|||||||||||
| Schedule of Investments [Line Items] | |||||||||||
| Net investment income | (1,400,000) | 5,300,000 | (10,700,000) | ||||||||
|
Other Investments [Member] | Investment Income, Net [Member]
|
|||||||||||
| Schedule of Investments [Line Items] | |||||||||||
| Net unrealized gains (losses) recognized in earnings | 12,700,000 | 57,500,000 | 88,500,000 | ||||||||
|
Private equity partnerships [Member]
|
|||||||||||
| Schedule of Investments [Line Items] | |||||||||||
| Other investments | 367,909,000 | 347,556,000 | 367,909,000 | 347,556,000 | |||||||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 139,454,000 | 139,454,000 | |||||||||
|
Senior secured bank loan funds [Member]
|
|||||||||||
| Schedule of Investments [Line Items] | |||||||||||
| Other investments | 257,870,000 | 166,106,000 | 257,870,000 | 166,106,000 | |||||||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 5,099,000 | 5,099,000 | |||||||||
|
Catastrophe bonds [Member]
|
|||||||||||
| Schedule of Investments [Line Items] | |||||||||||
| Other investments | 70,999,000 | 123,961,000 | 70,999,000 | 123,961,000 | |||||||
|
Non-U.S. fixed income funds [Member]
|
|||||||||||
| Schedule of Investments [Line Items] | |||||||||||
| Other investments | 28,862,000 | 80,224,000 | 28,862,000 | 80,224,000 | |||||||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 0 | 0 | |||||||||
|
Hedge funds [Member]
|
|||||||||||
| Schedule of Investments [Line Items] | |||||||||||
| Other investments | 21,344,000 | 41,005,000 | 21,344,000 | 41,005,000 | |||||||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 0 | 0 | |||||||||
|
Miscellaneous other investments [Member]
|
|||||||||||
| Schedule of Investments [Line Items] | |||||||||||
| Other investments | $ 2,000,000 | $ 28,696,000 | $ 2,000,000 | $ 28,696,000 | |||||||
| X | ||||||||||
|
- Definition
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Commitments Fulfilled No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Initial Commitments No definition available.
|
| X | ||||||||||
|
- Definition
The amount of unfunded commitments for which the entity is obligated, to those certain investments for which net asset value per share is calculated (including by unit, membership interest, or other equity (ownership interest) unit measure) (alternative investments). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The income earned from investments in securities and property, equipment and other capital assets. It includes rent from property and equipment, dividends from shares in corporations, and interest from bonds, loans, mortgages, derivatives, commercial paper, bank accounts, certificates of deposits, treasuries, and other financial securities. It does not include realized gains and losses on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments (Schedule Of Investments In Other Ventures, Under Equity Method) (Details) (USD $)
|
0 Months Ended | 1 Months Ended | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2011
Tower Hill Companies [Member]
|
Dec. 31, 2010
Tower Hill Companies [Member]
|
Jul. 01, 2008
THIG [Member]
|
Dec. 31, 2011
THIG [Member]
|
Dec. 31, 2010
THIG [Member]
|
Dec. 31, 2011
Tower Hill [Member]
|
Dec. 31, 2010
Tower Hill [Member]
|
Jan. 07, 2005
Tower Hill [Member]
|
Dec. 31, 2011
Tower Hill Signature [Member]
|
Dec. 31, 2010
Tower Hill Signature [Member]
|
Dec. 31, 2011
Top Layer Re [Member]
|
Mar. 31, 2011
Top Layer Re [Member]
|
Dec. 31, 2010
Top Layer Re [Member]
|
Feb. 28, 2011
Top Layer Re [Member]
|
Nov. 30, 2010
Top Layer Re [Member]
|
Dec. 31, 2011
Other [Member]
|
Dec. 31, 2010
Other [Member]
|
|
| Schedule of Equity Method Investments [Line Items] | |||||||||||||||||||
| Investment | $ 131,875,000 | $ 105,875,000 | $ 60,500,000 | $ 60,000,000 | $ 50,000,000 | $ 50,000,000 | $ 50,000,000 | $ 10,000,000 | $ 10,000,000 | $ 500,000 | $ 0 | $ 65,375,000 | $ 26,875,000 | $ 13,100,000 | $ 6,000,000 | $ 19,000,000 | |||
| Ownership % | 25.00% | 25.00% | 25.00% | 28.60% | 28.60% | 28.60% | 25.00% | 0.00% | 50.00% | 50.00% | 50.00% | 50.00% | 40.00% | ||||||
| Equity Method Investment, Additional Contribution | 18,000,000 | 20,500,000 | 13,800,000 | ||||||||||||||||
| Intangible Assets, Net (Excluding Goodwill) | 40,000,000 | ||||||||||||||||||
| Goodwill | 7,800,000 | ||||||||||||||||||
| Carrying Value | $ 70,714,000 | $ 85,603,000 | $ 46,818,000 | $ 52,586,000 | $ 32,645,000 | $ 38,431,000 | $ 14,173,000 | $ 14,155,000 | $ 0 | $ 0 | $ 15,872,000 | $ 14,844,000 | $ 8,024,000 | $ 18,173,000 | |||||
| X | ||||||||||
|
- Definition
Equity Method Investment, Additional Contribution No definition available.
|
| X | ||||||||||
|
- Definition
Intangible Assets, Acquired During Period (Excluding Goodwill) No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the aggregate cost of investments accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of goodwill acquired in the period and allocated to the reportable segment. The value is stated at fair value based on the purchase price allocation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investments (Schedule Of Equity In (Losses) Earnings Of Other Ventures, Under Equity Method) (Details) (USD $)
|
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Schedule of Equity Method Investments [Line Items] | |||||||||||
| Equity in earnings (losses) of other ventures | $ (22,702,000) | $ 4,794,000 | $ 5,128,000 | $ (23,753,000) | $ (10,390,000) | $ (6,740,000) | $ 3,160,000 | $ 2,156,000 | $ (36,533,000) | $ (11,814,000) | $ 10,976,000 |
| Undistributed Loss from Equity Method Investments | (39,600,000) | (39,600,000) | |||||||||
| Equity Method Investment, Dividends or Distributions | 9,500,000 | 17,900,000 | 16,400,000 | ||||||||
|
Tower Hill Companies [Member]
|
|||||||||||
| Schedule of Equity Method Investments [Line Items] | |||||||||||
| Equity in earnings (losses) of other ventures | 2,923,000 | 1,151,000 | (2,083,000) | ||||||||
|
Top Layer Re [Member]
|
|||||||||||
| Schedule of Equity Method Investments [Line Items] | |||||||||||
| Equity in earnings (losses) of other ventures | (37,471,000) | (12,103,000) | 12,619,000 | ||||||||
|
Other [Member]
|
|||||||||||
| Schedule of Equity Method Investments [Line Items] | |||||||||||
| Equity in earnings (losses) of other ventures | (1,985,000) | (862,000) | 440,000 | ||||||||
|
NBIC Holdings, Inc. [Member]
|
|||||||||||
| Schedule of Equity Method Investments [Line Items] | |||||||||||
| Equity in earnings (losses) of other ventures | (2,800,000) | ||||||||||
| Sale of equity method investment, Net sales proceeds | 12,000,000 | ||||||||||
| Sale of equity method investment, Realized gain (loss) | $ 4,800,000 | ||||||||||
| X | ||||||||||
|
- Definition
Undistributed Income (Loss) from Equity Method Investments No definition available.
|
| X | ||||||||||
|
- Definition
This item represents disclosure of the amount of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporation; these investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the amount of net sales proceeds received on disposal of an equity method investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the amount of gain (loss) arising from the disposal of an equity method investment. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Fair Value Measurements (Narrative) (Details) (USD $)
|
12 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2011
Other Investments [Member]
Investment Income, Net [Member]
|
Dec. 31, 2010
Other Investments [Member]
Investment Income, Net [Member]
|
Dec. 31, 2009
Other Investments [Member]
Investment Income, Net [Member]
|
Dec. 31, 2011
Other Secured Assets [Member]
Other (Loss) Income [Member]
|
Dec. 31, 2010
Other Secured Assets [Member]
Other (Loss) Income [Member]
|
Dec. 31, 2009
Other Secured Assets [Member]
Other (Loss) Income [Member]
|
Dec. 31, 2011
Other Assets and Liabilities [Member]
Other (Loss) Income [Member]
|
Dec. 31, 2010
Other Assets and Liabilities [Member]
Other (Loss) Income [Member]
|
Dec. 31, 2009
Other Assets and Liabilities [Member]
Other (Loss) Income [Member]
|
Dec. 31, 2011
Other Assets [Member]
|
Dec. 31, 2010
Other Assets [Member]
|
Dec. 31, 2011
Other Liabilities [Member]
|
Dec. 31, 2010
Other Liabilities [Member]
|
Dec. 31, 2011
Reinsurance Contracts Accounted For At Fair Value [Member]
|
Dec. 31, 2010
Reinsurance Contracts Accounted For At Fair Value [Member]
|
Dec. 31, 2009
Reinsurance Contracts Accounted For At Fair Value [Member]
|
Jan. 03, 2003
5.875% Senior Notes Due February 15, 2013 [Member]
|
Dec. 31, 2011
5.875% Senior Notes Due February 15, 2013 [Member]
|
Dec. 31, 2010
5.875% Senior Notes Due February 15, 2013 [Member]
|
Mar. 31, 2010
5.75% Senior Notes Due March 15, 2020 [Member]
RenRe North America Holdings Inc. [Member]
|
Dec. 31, 2011
5.75% Senior Notes Due March 15, 2020 [Member]
RenRe North America Holdings Inc. [Member]
|
Dec. 31, 2010
5.75% Senior Notes Due March 15, 2020 [Member]
RenRe North America Holdings Inc. [Member]
|
Mar. 17, 2010
5.75% Senior Notes Due March 15, 2020 [Member]
RenRe North America Holdings Inc. [Member]
|
Dec. 31, 2011
U.S. treasuries [Member]
|
Dec. 31, 2011
Agencies [Member]
|
Dec. 31, 2011
Non-U.S. government (Sovereign Debt) [Member]
|
Dec. 31, 2011
FDIC guaranteed corporate [Member]
|
Dec. 31, 2011
Non-U.S. government-backed corporate [Member]
|
Dec. 31, 2011
Corporate [Member]
|
Dec. 31, 2011
Agency mortgage-backed [Member]
years
|
Dec. 31, 2011
Non-agency prime residential mortgage-backed [Member]
years
|
Dec. 31, 2011
AltA non-agency mortgage-backed [Member]
years
|
Dec. 31, 2011
Commercial mortgage-backed [Member]
years
|
Dec. 31, 2011
Asset-backed [Member]
years
|
Dec. 31, 2011
Private equity partnerships [Member]
|
Dec. 31, 2011
Senior secured bank loan funds [Member]
|
Dec. 31, 2011
Non-U.S. fixed income funds [Member]
|
Dec. 31, 2011
Hedge funds [Member]
|
|
| Weighted average effective yield | 0.60% | 0.50% | 2.30% | 0.30% | 1.40% | 4.20% | 1.50% | 8.00% | 9.10% | 3.20% | 0.90% | ||||||||||||||||||||||||||||||
| Weighted average life | 2.6 | 3.3 | 3.8 | 4.2 | 1.8 | ||||||||||||||||||||||||||||||||||||
| Investment in closed end fund | $ 20,100,000 | ||||||||||||||||||||||||||||||||||||||||
| Senior Notes, Carrying value | 100,000,000 | ||||||||||||||||||||||||||||||||||||||||
| Senior notes interest rate | 5.875% | 5.75% | |||||||||||||||||||||||||||||||||||||||
| Debt instrument maturity date | February 15, 2013 | March 15, 2020 | |||||||||||||||||||||||||||||||||||||||
| Senior Notes, Fair value | 103,400,000 | 105,900,000 | 263,000,000 | 252,400,000 | |||||||||||||||||||||||||||||||||||||
| Debt instrument, Face amount | 250,000,000 | ||||||||||||||||||||||||||||||||||||||||
| Net unrealized gains (losses) recognized in earnings | 22,683,000 | 57,540,000 | 88,545,000 | 12,700,000 | 57,500,000 | 88,500,000 | (100,000) | 41,000 | 1,400,000 | (2,800,000) | (2,200,000) | (800,000) | |||||||||||||||||||||||||||||
| Investments redeemable in part, on a monthly basis, or in whole over a three month period | 237,800,000 | ||||||||||||||||||||||||||||||||||||||||
| Reinsurance contracts assumed and ceded, at fair value | 2,100,000 | 1,800,000 | 0 | 0 | |||||||||||||||||||||||||||||||||||||
| Income (loss) on assumed and ceded resinsurance contracts accounted for at fair value included in other income (loss) | 37,600,000 | (2,900,000) | (31,900,000) | ||||||||||||||||||||||||||||||||||||||
| Estimated liquidation period of limited partnership assets, Minimum | 7 years | ||||||||||||||||||||||||||||||||||||||||
| Estimated liquidation period of limited partnership assets, Maximum | 10 years | ||||||||||||||||||||||||||||||||||||||||
| Other investments measured using net asset valuations | 675,985,000 | 367,909,000 | 257,870,000 | 28,862,000 | 21,344,000 | ||||||||||||||||||||||||||||||||||||
| Hedge fund side pocket investments | $ 6,600,000 | ||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
This item represents the weighted average life in years of debt securities. No definition available.
|
| X | ||||||||||
|
- Definition
Estimated Liquidation Period of Limited Partnership Assets, Maximum No definition available.
|
| X | ||||||||||
|
- Definition
Estimated Liquidation Period of Limited Partnership Assets, Minimum No definition available.
|
| X | ||||||||||
|
- Definition
This item represents senior secured bank loan funds in a closed end fund, which the Company has no right to redeem. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the fair value of investments redeemable in part, on a monthly basis, or in whole over a three month period. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents 'side pocket' investments which are not redeemable at the option of the shareholder. No definition available.
|
| X | ||||||||||
|
- Definition
Assumed and ceded reinsurance contracts that are accounted for at fair value under the fair value option. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the weighted average effective yield percentage of debt securities. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the total fair market value of investments in certain entities that calculate net asset value per share (including by unit, membership interest, or other equity (ownership interest) unit measure) (alternative investments). This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements, but may also be used in both the balance sheet and disclosure in the same submission. This item represents alternative investments as of the balance sheet date which may include investments in certain hedge funds, venture capital funds, private equity funds, real estate partnerships or funds, and any other investment in which investee management calculates net asset value per share as the primary metric for investment value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Description of the maturity date of the debt instrument including whether the debt matures serially and, if so, a brief description of the serial maturities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents, for each line item in the statement of financial position, the amounts of gains and losses from fair value changes included in earnings during the period and in which line in the income statement those gains and losses are reported. This item may also include amounts of gains and losses for other items measured at fair value, but for which the fair value option has not been elected (for instance, items required to be measured at fair value). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
|
Dec. 31, 2010
|
||||
|---|---|---|---|---|---|---|
| Total fixed maturity investments | $ 4,433,517 | $ 4,116,697 | ||||
| Short-term investments | 905,477 | 1,110,364 | ||||
| Equity investments trading | 50,560 | 0 | ||||
| Other investments | 748,984 | 787,548 | ||||
| Other secured assets | 0 | 14,250 | ||||
| Total other assets and (liabilities) | 16,071 | 63,019 | ||||
| Total assets and liabilities measured on recurring basis | 6,154,609 | 6,091,878 | ||||
|
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total fixed maturity investments | 885,152 | 761,461 | ||||
| Short-term investments | 0 | 0 | ||||
| Equity investments trading | 50,560 | |||||
| Other investments | 0 | 0 | ||||
| Other secured assets | 0 | |||||
| Total other assets and (liabilities) | (6,162) | (4,650) | ||||
| Total assets and liabilities measured on recurring basis | 929,550 | 756,811 | ||||
|
Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total fixed maturity investments | 3,520,604 | 3,333,451 | ||||
| Short-term investments | 905,477 | 1,110,364 | ||||
| Equity investments trading | 0 | |||||
| Other investments | 352,458 | 425,446 | ||||
| Other secured assets | 14,250 | |||||
| Total other assets and (liabilities) | (6,293) | 51,170 | ||||
| Total assets and liabilities measured on recurring basis | 4,772,246 | 4,934,681 | ||||
|
Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 27,761 | 21,785 | ||||
| Short-term investments | 0 | 0 | ||||
| Equity investments trading | 0 | |||||
| Other investments | 396,526 | 362,102 | ||||
| Other secured assets | 0 | |||||
| Total other assets and (liabilities) | 28,526 | 16,499 | ||||
| Total assets and liabilities measured on recurring basis | 452,813 | 400,386 | ||||
|
U.S. treasuries [Member]
|
||||||
| Total fixed maturity investments | 885,152 | 761,461 | ||||
|
U.S. treasuries [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total fixed maturity investments | 885,152 | 761,461 | ||||
|
U.S. treasuries [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
U.S. treasuries [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Agencies [Member]
|
||||||
| Total fixed maturity investments | 158,561 | 216,963 | ||||
|
Agencies [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Agencies [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total fixed maturity investments | 158,561 | 216,963 | ||||
|
Agencies [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Non-U.S. government (Sovereign Debt) [Member]
|
||||||
| Total fixed maturity investments | 227,912 | 184,387 | ||||
|
Non-U.S. government (Sovereign Debt) [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Non-U.S. government (Sovereign Debt) [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total fixed maturity investments | 227,912 | 184,387 | ||||
|
Non-U.S. government (Sovereign Debt) [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
FDIC guaranteed corporate [Member]
|
||||||
| Total fixed maturity investments | 423,630 | 388,468 | ||||
|
FDIC guaranteed corporate [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
FDIC guaranteed corporate [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total fixed maturity investments | 423,630 | 388,468 | ||||
|
FDIC guaranteed corporate [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Non-U.S. government-backed corporate [Member]
|
||||||
| Total fixed maturity investments | 641,082 | 357,504 | ||||
|
Non-U.S. government-backed corporate [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Non-U.S. government-backed corporate [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total fixed maturity investments | 641,082 | 357,504 | ||||
|
Non-U.S. government-backed corporate [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Corporate [Member]
|
||||||
| Total fixed maturity investments | 1,206,904 | 1,512,411 | ||||
|
Corporate [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Corporate [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total fixed maturity investments | 1,179,143 | 1,490,626 | ||||
|
Corporate [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 27,761 | 21,785 | ||||
|
Agency mortgage-backed [Member]
|
||||||
| Total fixed maturity investments | 441,749 | 401,807 | ||||
|
Agency mortgage-backed [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Agency mortgage-backed [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total fixed maturity investments | 441,749 | 401,807 | ||||
|
Agency mortgage-backed [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Non-agency mortgage-backed [Member]
|
||||||
| Total fixed maturity investments | 104,771 | 34,149 | ||||
|
Non-agency mortgage-backed [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Non-agency mortgage-backed [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total fixed maturity investments | 104,771 | 34,149 | ||||
|
Non-agency mortgage-backed [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Commercial mortgage-backed [Member]
|
||||||
| Total fixed maturity investments | 325,729 | 219,440 | ||||
|
Commercial mortgage-backed [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Commercial mortgage-backed [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total fixed maturity investments | 325,729 | 219,440 | ||||
|
Commercial mortgage-backed [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Asset-backed [Member]
|
||||||
| Total fixed maturity investments | 18,027 | 40,107 | ||||
|
Asset-backed [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Asset-backed [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total fixed maturity investments | 18,027 | 40,107 | ||||
|
Asset-backed [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Private equity partnerships [Member]
|
||||||
| Other investments | 367,909 | 347,556 | ||||
|
Private equity partnerships [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Other investments | 0 | 0 | ||||
|
Private equity partnerships [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Other investments | 0 | 0 | ||||
|
Private equity partnerships [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Other investments | 367,909 | 347,556 | ||||
|
Senior secured bank loan funds [Member]
|
||||||
| Other investments | 257,870 | 166,106 | ||||
|
Senior secured bank loan funds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Other investments | 0 | 0 | ||||
|
Senior secured bank loan funds [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Other investments | 237,815 | 158,386 | ||||
|
Senior secured bank loan funds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Other investments | 20,055 | 7,720 | ||||
|
Catastrophe bonds [Member]
|
||||||
| Other investments | 70,999 | 123,961 | ||||
|
Catastrophe bonds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Other investments | 0 | 0 | ||||
|
Catastrophe bonds [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Other investments | 70,999 | 123,961 | ||||
|
Catastrophe bonds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Other investments | 0 | 0 | ||||
|
Non-U.S. fixed income funds [Member]
|
||||||
| Other investments | 28,862 | 80,224 | ||||
|
Non-U.S. fixed income funds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Other investments | 0 | 0 | ||||
|
Non-U.S. fixed income funds [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Other investments | 28,862 | 80,224 | ||||
|
Non-U.S. fixed income funds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Other investments | 0 | 0 | ||||
|
Hedge Funds [Member]
|
||||||
| Other investments | 21,344 | 41,005 | ||||
|
Hedge Funds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Other investments | 0 | 0 | ||||
|
Hedge Funds [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Other investments | 14,782 | 41,005 | ||||
|
Hedge Funds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Other investments | 6,562 | 0 | ||||
|
Miscellaneous other investments [Member]
|
||||||
| Other investments | 2,000 | 28,696 | ||||
|
Miscellaneous other investments [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Other investments | 0 | 0 | ||||
|
Miscellaneous other investments [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Other investments | 0 | 21,870 | ||||
|
Miscellaneous other investments [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Other investments | 2,000 | 6,826 | ||||
|
Platinum warrants [Member]
|
||||||
| Total other assets and (liabilities) | 44,925 | |||||
|
Platinum warrants [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total other assets and (liabilities) | 0 | |||||
|
Platinum warrants [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total other assets and (liabilities) | 44,925 | |||||
|
Platinum warrants [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total other assets and (liabilities) | 0 | |||||
|
Assumed and ceded reinsurance contracts [Member]
|
||||||
| Total other assets and (liabilities) | 2,115 | 1,772 | ||||
|
Assumed and ceded reinsurance contracts [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total other assets and (liabilities) | 0 | 0 | ||||
|
Assumed and ceded reinsurance contracts [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total other assets and (liabilities) | 0 | 0 | ||||
|
Assumed and ceded reinsurance contracts [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total other assets and (liabilities) | 2,115 | 1,772 | ||||
|
Derivatives [Member]
|
||||||
| Total other assets and (liabilities) | 3,312 | [1] | 2,693 | [1] | ||
|
Derivatives [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total other assets and (liabilities) | 707 | [1] | (51) | [1] | ||
|
Derivatives [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total other assets and (liabilities) | (6,293) | [1] | 6,245 | [1] | ||
|
Derivatives [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total other assets and (liabilities) | 8,898 | [1] | (3,501) | [1] | ||
|
Other [Member]
|
||||||
| Total other assets and (liabilities) | 10,644 | 13,629 | ||||
|
Other [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total other assets and (liabilities) | (6,869) | (4,599) | ||||
|
Other [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total other assets and (liabilities) | 0 | 0 | ||||
|
Other [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total other assets and (liabilities) | $ 17,513 | $ 18,228 | ||||
|
||||||
| X | ||||||||||
|
- Definition
This element represents the aggregate of the assets and liabilities reported on the balance sheet at period end measured at fair value by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. No definition available.
|
| X | ||||||||||
|
- Definition
Total Other Assets And liabilities Measured on Recurring Basis No definition available.
|
| X | ||||||||||
|
- Definition
Reflects the aggregate value of loans, trade receivables, securities and financial instruments that serve as collateral for obligations arising from a transfer of financial assets recorded as a secured borrowing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, this item represents investments in debt securities having predetermined or determinable maturity dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy that will be realized in a short period of time, usually less than one year or the normal operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total common and preferred stock (which is not mandatorily redeemable, redeemable at the option of the holder, or in any other way classified as liability) equity securities that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for equity securities formerly categorized as available-for-sale or held-to-maturity which the entity held as of the date it opted to account for such securities at fair value. An enterprise may also categorize such a security as trading without the intent to sell it in the near term assuming the decision to categorize the security as trading occurred at acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Level 3 Inputs) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance at beginning of the period | $ 400,386 | $ 410,939 |
| Total unrealized gains (losses) | ||
| Included in net investment income | 29,449 | 30,233 |
| Included in other income (loss) | (4,528) | (3,001) |
| Total realized gains | ||
| Included in net investment income | (223) | (2,963) |
| Included in other income (loss) | 38,318 | 47,137 |
| Total foreign exchange losses | (1,730) | (2,252) |
| Purchases | 130,836 | 114,500 |
| Sales | (44,562) | (84,905) |
| Settlements | (101,695) | (109,302) |
| Net transfers into Level 3 | 6,562 | 0 |
| Balance at end of the period | 452,813 | 400,386 |
|
Fixed Maturity Investments [Member]
|
||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance at beginning of the period | 21,785 | 0 |
| Total unrealized gains (losses) | ||
| Included in net investment income | 5,976 | 574 |
| Included in other income (loss) | 0 | 0 |
| Total realized gains | ||
| Included in net investment income | 0 | 0 |
| Included in other income (loss) | 0 | 0 |
| Total foreign exchange losses | 0 | 0 |
| Purchases | 0 | 21,211 |
| Sales | 0 | 0 |
| Settlements | 0 | 0 |
| Net transfers into Level 3 | 0 | 0 |
| Balance at end of the period | 27,761 | 21,785 |
|
Other Investments [Member]
|
||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance at beginning of the period | 362,102 | 393,913 |
| Total unrealized gains (losses) | ||
| Included in net investment income | 23,473 | 29,659 |
| Included in other income (loss) | 0 | 0 |
| Total realized gains | ||
| Included in net investment income | (223) | (2,963) |
| Included in other income (loss) | 0 | 0 |
| Total foreign exchange losses | (1,635) | (1,391) |
| Purchases | 74,293 | 74,027 |
| Sales | 0 | (30,978) |
| Settlements | (68,046) | (100,165) |
| Net transfers into Level 3 | 6,562 | 0 |
| Balance at end of the period | 396,526 | 362,102 |
|
Other Assets and (Liabilities) [Member]
|
||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance at beginning of the period | 16,499 | 17,026 |
| Total unrealized gains (losses) | ||
| Included in net investment income | 0 | 0 |
| Included in other income (loss) | (4,528) | (3,001) |
| Total realized gains | ||
| Included in net investment income | 0 | 0 |
| Included in other income (loss) | 38,318 | 47,137 |
| Total foreign exchange losses | (95) | (861) |
| Purchases | 56,543 | 19,262 |
| Sales | (44,562) | (53,927) |
| Settlements | (33,649) | (9,137) |
| Net transfers into Level 3 | 0 | 0 |
| Balance at end of the period | $ 28,526 | $ 16,499 |
| X | ||||||||||
|
- Definition
This item represents the amount of the total foreign exchange gains or losses for the period which are included in the statement of income in net foreign exchange gains or losses. Such foreign exchange gains or losses relate to those assets or liabilities still held at the reporting date for which fair value is measured on a recurring basis using significant unobservable inputs (Level 3). No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the amount of the total change in unrealized (holding) gains or losses for the period which are included in the statement of income (or changes in net assets) in investment income. Such unrealized (holding) gains or losses relate to those assets still held at the reporting date for which fair value is measured on a recurring basis using significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the amount of the total change in unrealized (holding) gains or losses for the period which are included in the statement of income (or changes in net assets) in other income. Such unrealized (holding) gains or losses relate to those assets still held at the reporting date for which fair value is measured on a recurring basis using significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the amount of the total realized and unrealized gains or losses for the period which are included in the statement of income (or changes in net assets) in investment income; the fair value of which assets was or is measured on a recurring basis using significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the amount of the total realized and unrealized gains or losses for the period which are included in the statement of income (or changes in net assets) in other income; the fair value of which assets was or is measured on a recurring basis using significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Purchases that have taken place during the period in relation to assets measured at fair value and categorized within Level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sales that have taken place during the period in relation to assets measured at fair value and categorized within Level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Settlements that have taken place during the period in relation to assets measured at fair value and categorized within Level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents [net] transfers in to and out of assets measured at fair value on a recurring basis using unobservable inputs (Level 3) which have taken place during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents an asset measured at fair value using significant unobservable inputs (Level 3) which is required for reconciliation purposes of beginning and ending balances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
|
Fair Value Measurements (Summary Of The Balances Company Has Elected To Account For At Fair Value) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Fair Value Disclosures [Abstract] | ||
| Other investments | $ 748,984 | $ 787,548 |
| Other secured assets | 0 | 14,250 |
| Other assets | $ 19,628 | $ 20,000 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Reflects the aggregate value of loans, trade receivables, securities and financial instruments that serve as collateral for obligations arising from a transfer of financial assets recorded as a secured borrowing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This element represents the fair value of assets categorized as other which are not in and of themselves material enough to require separate disclosure. No definition available.
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value Measurements (Company's Portfolio of Other Investments Measured Using Net Asset Valuations) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2011
Days
|
|
| Fair Value | $ 675,985 |
| Unfunded Commitments | 144,553 |
|
Private equity partnerships [Member]
|
|
| Fair Value | 367,909 |
| Unfunded Commitments | 139,454 |
|
Senior secured bank loan funds [Member]
|
|
| Fair Value | 257,870 |
| Unfunded Commitments | 5,099 |
|
Non-U.S. fixed income funds [Member]
|
|
| Fair Value | 28,862 |
| Unfunded Commitments | 0 |
| Redemption Frequency | Monthly, Bi-monthly |
| Redemption Notice Period, Minimum | 5 |
| Redemption Notice Period, Maximum | 20 |
|
Hedge funds [Member]
|
|
| Fair Value | 21,344 |
| Unfunded Commitments | $ 0 |
| Redemption Frequency | Annually, Bi-annually |
| Redemption Notice Period, Minimum | 45 |
| Redemption Notice Period, Maximum | 90 |
| X | ||||||||||
|
- Definition
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Notice Period, Maximum No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Notice Period, Minimum No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the total fair market value of investments in certain entities that calculate net asset value per share (including by unit, membership interest, or other equity (ownership interest) unit measure) (alternative investments). This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements, but may also be used in both the balance sheet and disclosure in the same submission. This item represents alternative investments as of the balance sheet date which may include investments in certain hedge funds, venture capital funds, private equity funds, real estate partnerships or funds, and any other investment in which investee management calculates net asset value per share as the primary metric for investment value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
States the frequency (for example, annually, semi-annually, quarterly) with which the entity can redeem its investment, or portion thereof, for each of those certain investments for which net asset value per share is calculated (including by unit, membership interest, or other equity (ownership interest) unit measure) (alternative investments), by major category. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of unfunded commitments for which the entity is obligated, to those certain investments for which net asset value per share is calculated (including by unit, membership interest, or other equity (ownership interest) unit measure) (alternative investments). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Ceded Reinsurance (Effect Of Reinsurance And Retrocessional Activity On Premiums Written And Earned And On Net Claims And Claim Expenses) (Details) (USD $)
|
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Premiums written | |||||||||||
| Direct | $ 29,725,000 | $ 9,133,000 | $ 469,000 | ||||||||
| Assumed | 1,405,251,000 | 1,156,162,000 | 1,228,412,000 | ||||||||
| Ceded | (422,203,000) | (316,330,000) | (390,548,000) | ||||||||
| Net premiums written | 29,193,000 | 103,010,000 | 427,995,000 | 452,575,000 | 30,165,000 | 82,307,000 | 329,334,000 | 407,159,000 | 1,012,773,000 | 848,965,000 | 838,333,000 |
| Premiums earned | |||||||||||
| Direct | 17,794,000 | 5,329,000 | 1,419,000 | ||||||||
| Assumed | 1,356,205,000 | 1,191,375,000 | 1,270,553,000 | ||||||||
| Ceded | (422,950,000) | (331,783,000) | (389,768,000) | ||||||||
| Net premiums earned (Note 7) | 199,109,000 | 229,224,000 | 217,175,000 | 305,541,000 | 189,742,000 | 212,355,000 | 212,171,000 | 250,653,000 | 951,049,000 | 864,921,000 | 882,204,000 |
| Claims and claim expenses | |||||||||||
| Gross claims and claim expenses incurred | 1,270,487,000 | 178,422,000 | (81,233,000) | ||||||||
| Claims and claim expenses recovered | 409,308,000 | 49,077,000 | (10,535,000) | ||||||||
| Net claims and claim expenses incurred | 3,551,000 | 77,830,000 | 151,261,000 | 628,537,000 | (27,128,000) | 77,936,000 | (18,803,000) | 97,340,000 | 861,179,000 | 129,345,000 | (70,698,000) |
|
Allowance for Reinsurance Recoverable [Member]
|
|||||||||||
| Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | |||||||||||
| Valuation Allowance | $ 7,300,000 | $ 3,500,000 | $ 7,300,000 | $ 3,500,000 | |||||||
|
Customer One [Member] | Reinsurance Recoverable [Member]
|
|||||||||||
| Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | |||||||||||
| Reinsurers with the three largest balances, Percentage | 27.30% | 31.70% | 27.30% | 31.70% | |||||||
|
Customer One [Member] | Allowance for Reinsurance Recoverable [Member]
|
|||||||||||
| Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | |||||||||||
| Reinsurers with the three largest balances, Percentage | 34.20% | 57.00% | 34.20% | 57.00% | |||||||
|
Customer Two [Member] | Reinsurance Recoverable [Member]
|
|||||||||||
| Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | |||||||||||
| Reinsurers with the three largest balances, Percentage | 14.90% | 13.70% | 14.90% | 13.70% | |||||||
|
Customer Two [Member] | Allowance for Reinsurance Recoverable [Member]
|
|||||||||||
| Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | |||||||||||
| Reinsurers with the three largest balances, Percentage | 27.30% | 24.90% | 27.30% | 24.90% | |||||||
|
Customer Three [Member] | Reinsurance Recoverable [Member]
|
|||||||||||
| Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | |||||||||||
| Reinsurers with the three largest balances, Percentage | 12.40% | 12.70% | 12.40% | 12.70% | |||||||
|
Customer Three [Member] | Allowance for Reinsurance Recoverable [Member]
|
|||||||||||
| Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | |||||||||||
| Reinsurers with the three largest balances, Percentage | 12.00% | 3.70% | 12.00% | 3.70% | |||||||
| X | ||||||||||
|
- Definition
Premiums assumed and earned for all insurance assumed from other insurers as a result of reinsurance arrangements. No definition available.
|
| X | ||||||||||
|
- Definition
Premiums assumed and earned by another insurer as a result of reinsurance arrangements. No definition available.
|
| X | ||||||||||
|
- Definition
Premiums earned directly for all insurance before adding contracts assumed from other insurers or subtracting any amounts assumed by other insurers. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Premiums for all insurance assumed from other insurers, that is premiums ceded to the entity by other insurers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total consideration paid and payable to reinsurers during the period pursuant to terms of reinsurance arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total consideration paid and payable by direct policyholders for insurance contracts sold by the Entity during the period. This amount does not include premium assumed from or ceded to other insurers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total provision in the period for claims incurred and costs incurred in the claim settlement process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total provision in the period for future policy benefits, claims incurred and costs incurred in the claims settlement process before the effects of reinsurance arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Premiums earned on the income statement for all insurance and reinsurance contracts after subtracting any amounts ceded to another insurer and adding premiums assumed from other insurers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Premiums written for all insurance and reinsurance contracts, after adding premiums assumed from other insurers and subtracting any amounts ceded to another insurer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net amount in the period for future policy benefits and costs incurred under policies assumed and estimated recoupments under policies ceded. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Reserve for Claims and Claim Expenses (Narrative) (Details) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | $ 131,989,000 | $ 302,131,000 | $ 266,216,000 |
| Reserve for claims and claim expenses | 1,992,354,000 | 1,257,843,000 | 1,344,433,000 |
|
Reinsurance Balances Payable [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Aggregate deposit liabilities | 50,000,000 | 52,100,000 | |
|
Other Assets [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Aggregate deposit assets | 0 | 0 | |
|
Deposit Contracts With Underwriting Risk Only [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Increase (decrease) in Net claims and claim expenses related to assumed reinsurance contracts | (200,000) | (200,000) | (3,300,000) |
|
Deposit Contracts With Timing Risk Only [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Increase (decrease) in Other income related to assumed reinsurance contracts | (100,000) | 8,100,000 | (700,000) |
|
Hurricanes Katrina, Rita and Wilma, 2005 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Ultimate claims reported, prior to implementation of actuarial technique | 93.60% | ||
| Ultimate claims reported, after implementation of actuarial technique | 98.10% | 95.80% | |
| Decrease in ultimate claims resulting from actuarial technique | 28,100,000 | ||
|
Hurricanes Charley, Francis, Ivan and Jeanne, 2004 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Ultimate claims reported, prior to implementation of actuarial technique | 96.60% | ||
| Ultimate claims reported, after implementation of actuarial technique | 99.30% | 98.10% | |
| Decrease in ultimate claims resulting from actuarial technique | 12,300,000 | ||
|
Reinsurance [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 136,898,000 | 286,019,000 | 249,507,000 |
|
Reinsurance [Member] | Catastrophe Reinsurance [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 59,137,000 | 157,458,000 | 184,395,000 |
|
Reinsurance [Member] | Specialty Reinsurance [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 77,761,000 | 128,561,000 | 65,112,000 |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 73,040,000 | 164,881,000 | 194,395,000 |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Large Catastrophe Event [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 46,015,000 | 125,204,000 | 136,815,000 |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Hurricanes Katrina, Rita and Wilma, 2005 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 16,223,000 | 30,832,000 | 35,456,000 |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Hurricanes Charley, Francis, Ivan and Jeanne, 2004 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 4,076,000 | 8,149,000 | 11,302,000 |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Mature, Large Catastrophe Event [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 37,854,000 | ||
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Buncefield Oil Depot, 2005 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 29,491,000 | ||
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Hurricanes Gustav and Ike, 2008 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 10,878,000 | 44,664,000 | |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | European Windstorm Klaus, 2009 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 8,000,000 | ||
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Windstorm Kyrill, 2007 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 2,494,000 | 16,719,000 | |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | United States, PCS 21 California Wildland Fire, 2007 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 4,554,000 | 14,085,000 | |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | United Kingdom Floods, 2007 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 3,635,000 | 14,589,000 | |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Small Catastrophe Event [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 27,025,000 | 39,677,000 | 57,580,000 |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 59,137,000 | 157,458,000 | 184,395,000 |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Large Catastrophe Event [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 32,112,000 | 117,781,000 | 126,815,000 |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Hurricanes Katrina, Rita and Wilma, 2005 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 10,008,000 | 25,482,000 | 25,456,000 |
| Initial estimated ultimate claim | 1,500,000,000 | ||
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Hurricanes Charley, Francis, Ivan and Jeanne, 2004 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 4,076,000 | 8,149,000 | 11,302,000 |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Mature, Large Catastrophe Event [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 37,854,000 | ||
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Buncefield Oil Depot, 2005 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 27,418,000 | ||
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Hurricanes Gustav and Ike, 2008 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 10,878,000 | 44,664,000 | |
| Initial estimated ultimate claim | 530,000,000 | ||
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | European Windstorm Klaus, 2009 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 8,000,000 | ||
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Windstorm Kyrill, 2007 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 2,494,000 | 16,719,000 | |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | United States, PCS 21 California Wildland Fire, 2007 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 4,554,000 | 14,085,000 | |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | United Kingdom Floods, 2007 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 3,635,000 | 14,589,000 | |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Small Catastrophe Event [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 27,025,000 | 39,677,000 | 57,580,000 |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 13,903,000 | 7,423,000 | 10,000,000 |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Large Catastrophe Event [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 13,903,000 | 7,423,000 | 10,000,000 |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Hurricanes Katrina, Rita and Wilma, 2005 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 6,215,000 | 5,350,000 | 10,000,000 |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Hurricanes Charley, Francis, Ivan and Jeanne, 2004 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 0 | 0 | 0 |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Mature, Large Catastrophe Event [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 0 | ||
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Buncefield Oil Depot, 2005 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 2,073,000 | ||
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Hurricanes Gustav and Ike, 2008 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 0 | 0 | |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | European Windstorm Klaus, 2009 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 0 | ||
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Windstorm Kyrill, 2007 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 0 | 0 | |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | United States, PCS 21 California Wildland Fire, 2007 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 0 | 0 | |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | United Kingdom Floods, 2007 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 0 | 0 | |
|
Reinsurance [Member] | Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Small Catastrophe Event [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 0 | 0 | 0 |
|
Reinsurance [Member] | Reported Claims Less than Expected [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 37,058,000 | 71,261,000 | 92,115,000 |
|
Reinsurance [Member] | Reported Claims Less than Expected [Member] | Catastrophe Reinsurance [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 0 | 0 | 0 |
|
Reinsurance [Member] | Reported Claims Less than Expected [Member] | Specialty Reinsurance [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 37,058,000 | 71,261,000 | 92,115,000 |
|
Reinsurance [Member] | Attritional Claims and Claim Expenses [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 63,858,000 | 121,138,000 | 55,112,000 |
|
Reinsurance [Member] | Attritional Claims and Claim Expenses [Member] | Catastrophe Reinsurance [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 0 | 0 | 0 |
|
Reinsurance [Member] | Attritional Claims and Claim Expenses [Member] | Specialty Reinsurance [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 63,858,000 | 121,138,000 | 55,112,000 |
|
Lloyd's [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | (478,000) | 197,000 | |
|
Insurance [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | (4,431,000) | 15,915,000 | 16,709,000 |
|
Insurance [Member] | Large Catastrophe Event [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | (4,243,000) | (300,000) | (1,603,000) |
|
Insurance [Member] | Construction Defect Book of Business [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Reserve for claims and claim expenses | 58,800,000 | ||
|
Insurance [Member] | Catastrophe Claims and Claim Expense [Member] | Large Hurricanes, 2004 and 2005 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | (2,100,000) | ||
|
Insurance [Member] | Catastrophe Claims and Claim Expense [Member] | Hurricanes Katrina, Rita and Wilma, 2005 [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | (4,600,000) | ||
|
Insurance [Member] | Attritional Claims and Claim Expenses [Member]
|
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | $ (1,389,000) | $ (15,615,000) | $ (15,106,000) |
| X | ||||||||||
|
- Definition
Liability for Claims and Claims Adjustment Expense, Initial Estimated Claims No definition available.
|
| X | ||||||||||
|
- Definition
Reinsurance Effect on Other Income, Amount Assumed No definition available.
|
| X | ||||||||||
|
- Definition
Reported Claims Percentage, After Actuarial Adjustment No definition available.
|
| X | ||||||||||
|
- Definition
Reported Claims Percentage, Before Actuarial Adjustment No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount of assets as of the balance sheet date pertaining to amounts paid by the insured (including a ceding company) under insurance or reinsurance contracts for which insurance risk is not transferred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of liabilities as of the balance sheet date pertaining to amounts received by the insurer or reinsurer from the insured (including a ceding company) under insurance or reinsurance contracts for which insurance risk is not transferred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated cost of settling claims under the terms of the underlying insurance policies and assumed and ceded insurance contracts as of the balance sheet date, including an estimate for claims which have been incurred but not reported and the actual and estimated costs of settling claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of provision in the period for claims incurred in prior reporting periods and related claims settlement costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of adjustments to the estimated reserve for unpaid claims and claims adjustment expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the provision for the period for claims and benefits incurred on contract risks assumed from other (ceding) insurers under reinsurance arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Reserve for Claims and Claim Expenses (Schedule of Liability for Unpaid Claims and Claims Adjustment Expense) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward] | |||||||||||
| Net reserves, Beginning of period | $ 1,156,132 | $ 1,260,334 | $ 1,156,132 | $ 1,260,334 | $ 1,565,230 | ||||||
| Net incurred related to: | |||||||||||
| Current year | 993,168 | 431,476 | 195,518 | ||||||||
| Prior years | (131,989) | (302,131) | (266,216) | ||||||||
| Total net incurred | 3,551 | 77,830 | 151,261 | 628,537 | (27,128) | 77,936 | (18,803) | 97,340 | 861,179 | 129,345 | (70,698) |
| Net paid related to: | |||||||||||
| Current year | 299,299 | 50,793 | 42,712 | ||||||||
| Prior years | 129,687 | 182,754 | 191,486 | ||||||||
| Total net paid | 428,986 | 233,547 | 234,198 | ||||||||
| Total net reserves, End of period | 1,588,325 | 1,156,132 | 1,588,325 | 1,156,132 | 1,260,334 | ||||||
| Reinsurance recoverable, End of period | 404,029 | 101,711 | 404,029 | 101,711 | 84,099 | ||||||
| Total gross reserves, End of period | $ 1,992,354 | $ 1,257,843 | $ 1,992,354 | $ 1,257,843 | $ 1,344,433 | ||||||
| X | ||||||||||
|
- Definition
Total amount of payments made during the reporting period to settle insured claims and pay costs incurred in the claims settlement process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of payments made in the reporting period to settle claims incurred in the current period and related claims settlement costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of payments made in the reporting period to settle claims incurred in prior periods and related claims settlement costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated cost of settling claims under the terms of the underlying insurance policies and assumed and ceded insurance contracts as of the balance sheet date, including an estimate for claims which have been incurred but not reported and the actual and estimated costs of settling claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total provision in the period for claims incurred and costs incurred in the claim settlement process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of provision in the period for claims incurred in the reporting period and related claims settlement costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of provision in the period for claims incurred in prior reporting periods and related claims settlement costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Liability as of the balance sheet date for amounts representing estimated cost of settling unpaid claims under the terms of the underlying insurance policies, less estimated reinsurance recoveries on such claims. This includes an estimate for claims which have been incurred but not reported. Claim adjustment expenses represent the costs estimated to be incurred in the settlement of unpaid claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The known and estimated amount recoverable as of the balance sheet date from reinsurers for claims paid or incurred by the ceding insurer and associated claims settlement expenses, including estimated amounts for claims incurred but not reported, and policy benefits, net of any related valuation allowance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Reserve for Claims and Claim Expenses (Schedule of Liability for Unpaid Claims and Claims Adjustment Expense by Business Segment) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | $ 131,989 | $ 302,131 | $ 266,216 |
|
Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 136,898 | 286,019 | 249,507 |
|
Lloyd's [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | (478) | 197 | |
|
Insurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | (4,431) | 15,915 | 16,709 |
|
Catastrophe Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 59,137 | 157,458 | 184,395 |
|
Specialty Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 77,761 | 128,561 | 65,112 |
|
Large Catastrophe Event [Member] | Insurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | (4,243) | (300) | (1,603) |
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 73,040 | 164,881 | 194,395 |
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 59,137 | 157,458 | 184,395 |
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 13,903 | 7,423 | 10,000 |
|
Catastrophe Claims and Claim Expense [Member] | Large Catastrophe Event [Member] | Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 46,015 | 125,204 | 136,815 |
|
Catastrophe Claims and Claim Expense [Member] | Large Catastrophe Event [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 32,112 | 117,781 | 126,815 |
|
Catastrophe Claims and Claim Expense [Member] | Large Catastrophe Event [Member] | Specialty Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 13,903 | 7,423 | 10,000 |
|
Attritional Claims and Claim Expenses [Member] | Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 63,858 | 121,138 | 55,112 |
|
Attritional Claims and Claim Expenses [Member] | Insurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | (1,389) | (15,615) | (15,106) |
|
Attritional Claims and Claim Expenses [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 0 | 0 | 0 |
|
Attritional Claims and Claim Expenses [Member] | Specialty Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 63,858 | 121,138 | 55,112 |
|
Actuarial Assumption Changes [Member] | Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 26,800 | 31,400 | |
|
Actuarial Assumption Changes [Member] | Insurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 10,063 | 0 | 0 |
|
Actuarial Assumption Changes [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | 0 | 0 | |
|
Actuarial Assumption Changes [Member] | Specialty Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | |||
| Net claims and claim expenses incurred - prior accident years | $ 26,800 | $ 31,400 | |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of provision in the period for claims incurred in prior reporting periods and related claims settlement costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Reserve for Claims and Claim Expenses Reserve for Claims and Claim Expenses (Liability for Catastrophe Claims) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | $ 131,989 | $ 302,131 | $ 266,216 |
|
Insurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | (4,431) | 15,915 | 16,709 |
|
Insurance [Member] | Large Catastrophe Event [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | (4,243) | (300) | (1,603) |
|
Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 136,898 | 286,019 | 249,507 |
|
Catastrophe Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 59,137 | 157,458 | 184,395 |
|
Specialty Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 77,761 | 128,561 | 65,112 |
|
Catastrophe Claims and Claim Expense [Member] | Insurance [Member] | Hurricanes Katrina, Rita and Wilma, 2005 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | (4,600) | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 73,040 | 164,881 | 194,395 |
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Large Catastrophe Event [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 46,015 | 125,204 | 136,815 |
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Mature, Large Catastrophe Event [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 37,854 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | World Trade Center, 2001 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 4,701 | 9,914 | |
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | European Windstorm Erwin, 2005 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 10,593 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Hurricanes Martin and Floyd, 1999 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 4,822 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | European Floods, 2002 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 4,361 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | United States, PCS 88 Wind and Thunderstorm, 2003 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 2,873 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Hurricane Isabel, 2003 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 1,995 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | United States, PCS 97 Wildland Fire, 2003 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 1,231 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Windstorm Anatol, 1999 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 971 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Northridge Earthquake, 1993 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 1,094 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Buncefield Oil Depot, 2005 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 29,491 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Chilean Earthquake, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 13,143 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Hurricanes Katrina, Rita and Wilma, 2005 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 16,223 | 30,832 | 35,456 |
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Hurricanes Gustav and Ike, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 10,878 | 44,664 | |
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Hurricanes Charley, Francis, Ivan and Jeanne, 2004 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 4,076 | 8,149 | 11,302 |
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | United Kingdom Floods, 2007 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,635 | 14,589 | |
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Windstorm Kyrill, 2007 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 2,494 | 16,719 | |
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | New Zealand Earthquake, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | (15,179) | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Tropical Cyclone Tasha, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 16,922 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | European Windstorm Klaus, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 8,000 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Small Catastrophe Event [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 27,025 | 39,677 | 57,580 |
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | United States, PCS 78 Wind and Thunderstorm, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,215 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | United States, PCS 66 Wind and Thunderstorm, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,149 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | United States Winter Storm, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,000 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Hurricane Bill, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 2,500 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | United States, PCS 21 California Wildland Fire, 2007 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 4,554 | 14,085 | |
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | United States, PCS 33 Great Midwest Storm, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,125 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | United States, PCS 31 Wind and Thunderstorm, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,039 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | United States, PCS 96 Wind and Thunderstorm, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 2,288 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | United States, PCS 82 Wind and Thunderstorm, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 2,429 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Austrian Floods, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 2,356 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Windstorm Emma, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 8,910 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | United States, PCS 27 Wind and Thunderstorm, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 4,237 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Hurricane Dean, 2007 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,889 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | United States, PCS 42 Wind and Thunderstorm, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,862 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | United States, PCS 43 Wind and Thunderstorm, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,171 | ||
|
Catastrophe Claims and Claim Expense [Member] | Reinsurance [Member] | Other Small Catastrophe [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 14,019 | 23,028 | 33,511 |
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 59,137 | 157,458 | 184,395 |
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Large Catastrophe Event [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 32,112 | 117,781 | 126,815 |
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Mature, Large Catastrophe Event [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 37,854 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | World Trade Center, 2001 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 4,701 | 9,914 | |
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | European Windstorm Erwin, 2005 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 10,593 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Hurricanes Martin and Floyd, 1999 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 4,822 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | European Floods, 2002 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 4,361 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | United States, PCS 88 Wind and Thunderstorm, 2003 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 2,873 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Hurricane Isabel, 2003 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 1,995 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | United States, PCS 97 Wildland Fire, 2003 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 1,231 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Windstorm Anatol, 1999 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 971 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Northridge Earthquake, 1993 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 1,094 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Buncefield Oil Depot, 2005 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 27,418 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Chilean Earthquake, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 8,455 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Hurricanes Katrina, Rita and Wilma, 2005 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 10,008 | 25,482 | 25,456 |
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Hurricanes Gustav and Ike, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 10,878 | 44,664 | |
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Hurricanes Charley, Francis, Ivan and Jeanne, 2004 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 4,076 | 8,149 | 11,302 |
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | United Kingdom Floods, 2007 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,635 | 14,589 | |
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Windstorm Kyrill, 2007 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 2,494 | 16,719 | |
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | New Zealand Earthquake, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | (15,179) | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Tropical Cyclone Tasha, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 13,922 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | European Windstorm Klaus, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 8,000 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Small Catastrophe Event [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 27,025 | 39,677 | 57,580 |
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | United States, PCS 78 Wind and Thunderstorm, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,215 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | United States, PCS 66 Wind and Thunderstorm, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,149 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | United States Winter Storm, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,000 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Hurricane Bill, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 2,500 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | United States, PCS 21 California Wildland Fire, 2007 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 4,554 | 14,085 | |
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | United States, PCS 33 Great Midwest Storm, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,125 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | United States, PCS 31 Wind and Thunderstorm, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,039 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | United States, PCS 96 Wind and Thunderstorm, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 2,288 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | United States, PCS 82 Wind and Thunderstorm, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 2,429 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Austrian Floods, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 2,356 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Windstorm Emma, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 8,910 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | United States, PCS 27 Wind and Thunderstorm, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 4,237 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Hurricane Dean, 2007 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,889 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | United States, PCS 42 Wind and Thunderstorm, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,862 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | United States, PCS 43 Wind and Thunderstorm, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,171 | ||
|
Catastrophe Claims and Claim Expense [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member] | Other Small Catastrophe [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 14,019 | 23,028 | 33,511 |
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 13,903 | 7,423 | 10,000 |
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Large Catastrophe Event [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 13,903 | 7,423 | 10,000 |
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Mature, Large Catastrophe Event [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | World Trade Center, 2001 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | 0 | |
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | European Windstorm Erwin, 2005 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Hurricanes Martin and Floyd, 1999 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | European Floods, 2002 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | United States, PCS 88 Wind and Thunderstorm, 2003 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Hurricane Isabel, 2003 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | United States, PCS 97 Wildland Fire, 2003 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Windstorm Anatol, 1999 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Northridge Earthquake, 1993 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Buncefield Oil Depot, 2005 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 2,073 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Chilean Earthquake, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 4,688 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Hurricanes Katrina, Rita and Wilma, 2005 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 6,215 | 5,350 | 10,000 |
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Hurricanes Gustav and Ike, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | 0 | |
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Hurricanes Charley, Francis, Ivan and Jeanne, 2004 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | 0 | 0 |
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | United Kingdom Floods, 2007 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | 0 | |
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Windstorm Kyrill, 2007 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | 0 | |
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | New Zealand Earthquake, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Tropical Cyclone Tasha, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 3,000 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | European Windstorm Klaus, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Small Catastrophe Event [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | 0 | 0 |
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | United States, PCS 78 Wind and Thunderstorm, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | United States, PCS 66 Wind and Thunderstorm, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | United States Winter Storm, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Hurricane Bill, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | United States, PCS 21 California Wildland Fire, 2007 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | 0 | |
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | United States, PCS 33 Great Midwest Storm, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | United States, PCS 31 Wind and Thunderstorm, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | United States, PCS 96 Wind and Thunderstorm, 2010 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | United States, PCS 82 Wind and Thunderstorm, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Austrian Floods, 2009 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Windstorm Emma, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | United States, PCS 27 Wind and Thunderstorm, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Hurricane Dean, 2007 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | United States, PCS 42 Wind and Thunderstorm, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | United States, PCS 43 Wind and Thunderstorm, 2008 [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Catastrophe Claims and Claim Expense [Member] | Specialty Reinsurance [Member] | Reinsurance [Member] | Other Small Catastrophe [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | 0 | 0 |
|
Attritional Claims and Claim Expenses [Member] | Insurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | (1,389) | (15,615) | (15,106) |
|
Attritional Claims and Claim Expenses [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 63,858 | 121,138 | 55,112 |
|
Attritional Claims and Claim Expenses [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | 0 | 0 |
|
Attritional Claims and Claim Expenses [Member] | Specialty Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 63,858 | 121,138 | 55,112 |
|
Bornhuetter-Ferguson Actuarial Method - Actual Reported Claims Less than Expected Claims [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 37,058 | 71,261 | 92,115 |
|
Bornhuetter-Ferguson Actuarial Method - Actual Reported Claims Less than Expected Claims [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | 0 | 0 |
|
Bornhuetter-Ferguson Actuarial Method - Actual Reported Claims Less than Expected Claims [Member] | Specialty Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 37,058 | 71,261 | 92,115 |
|
Actuarial Assumption Changes [Member] | Insurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 10,063 | 0 | 0 |
|
Actuarial Assumption Changes [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 26,800 | 31,400 | |
|
Actuarial Assumption Changes [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | 0 | |
|
Actuarial Assumption Changes [Member] | Specialty Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 26,800 | 31,400 | |
|
Reductions in Specific Events [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 18,477 | ||
|
Reductions in Specific Events [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Reductions in Specific Events [Member] | Specialty Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 18,477 | ||
|
Madoff [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | (32,500) | ||
|
Madoff [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Madoff [Member] | Specialty Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | (32,500) | ||
|
Subprime [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | (4,503) | ||
|
Subprime [Member] | Catastrophe Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | 0 | ||
|
Subprime [Member] | Specialty Reinsurance [Member] | Reinsurance [Member]
|
|||
| Liability for Catastrophe Claims [Line Items] | |||
| Prior years | $ (4,503) | ||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of provision in the period for claims incurred in prior reporting periods and related claims settlement costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Debt (Narrative) (Details)
|
12 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 0 Months Ended | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
USD ($)
|
Dec. 31, 2010
USD ($)
|
Dec. 31, 2009
USD ($)
|
Jan. 03, 2003
5.875% Senior Notes Due February 15, 2013 [Member]
USD ($)
|
Dec. 31, 2011
Credit Agreement [Member]
USD ($)
|
Dec. 31, 2011
Reimbursement Agreement [Member]
USD ($)
|
Mar. 07, 2011
Letter of Credit [Member]
Reimbursement Agreement [Member]
USD ($)
|
Dec. 31, 2011
Letter of Credit [Member]
Reimbursement Agreement [Member]
USD ($)
|
Feb. 15, 2011
Letter of Credit [Member]
Reimbursement Agreement [Member]
USD ($)
|
Feb. 14, 2011
Letter of Credit [Member]
Reimbursement Agreement [Member]
USD ($)
|
Dec. 31, 2010
Letter of Credit [Member]
Reimbursement Agreement [Member]
USD ($)
|
Dec. 31, 2011
Margin Facility [Member]
Renaissance Trading Margin Facility [Member]
USD ($)
|
Mar. 31, 2010
RenRe North America Holdings Inc. [Member]
5.75% Senior Notes Due March 15, 2020 [Member]
|
Mar. 17, 2010
RenRe North America Holdings Inc. [Member]
5.75% Senior Notes Due March 15, 2020 [Member]
USD ($)
|
Dec. 31, 2011
RenaissanceRe and Insurance Subsidiaries [Member]
Letter of Credit [Member]
Credit Agreement [Member]
USD ($)
|
Dec. 31, 2011
Non-insurance Subsidiaries [Member]
Letter of Credit [Member]
Credit Agreement [Member]
USD ($)
|
Dec. 31, 2011
Renaissance Reinsurance [Member]
Credit Agreement [Member]
USD ($)
|
Dec. 31, 2011
Renaissance Reinsurance [Member]
Letter of Credit [Member]
Lloyd's Letter of Credit Facility [Member]
|
Dec. 31, 2011
DaVinciRe [Member]
USD ($)
|
Mar. 31, 2011
DaVinciRe [Member]
USD ($)
|
Mar. 31, 2011
DaVinciRe [Member]
DaVinciRe Revolving Credit Facility [Member]
USD ($)
|
Apr. 02, 2011
DaVinciRe [Member]
Line of Credit [Member]
DaVinciRe Revolving Credit Facility [Member]
USD ($)
|
Dec. 31, 2011
DaVinciRe [Member]
Letter of Credit [Member]
Reimbursement Agreement [Member]
USD ($)
|
Dec. 31, 2011
Renaissance Reinsurance, DaVinci and Glencoe [Member]
Letter of Credit [Member]
Bilateral Facility [Member]
USD ($)
|
Dec. 31, 2011
Renaissance Trading [Member]
Energy And Weather Contracts [Member]
USD ($)
|
Dec. 31, 2011
Letter of Credit [Member]
USD ($)
|
Dec. 31, 2011
Letter of Credit [Member]
Top Layer Re [Member]
USD ($)
|
Dec. 31, 2011
Mandatory capital contribution
Letter of Credit [Member]
Top Layer Re [Member]
USD ($)
|
Dec. 31, 2011
Citibank Europe PLC [Member]
Letter of Credit [Member]
Syndicate 1458 [Member]
USD ($)
|
Dec. 31, 2011
Citibank Europe PLC [Member]
Letter of Credit [Member]
Syndicate 1458 [Member]
GBP (£)
|
Apr. 29, 2009
Citibank Europe PLC [Member]
Letter of Credit [Member]
Syndicate 1458 [Member]
USD ($)
|
Apr. 29, 2009
Citibank Europe PLC [Member]
Letter of Credit [Member]
Syndicate 1458 [Member]
GBP (£)
|
|
| Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
| Senior Notes | $ 100,000,000 | |||||||||||||||||||||||||||||||
| Debt instrument, Face amount | 250,000,000 | |||||||||||||||||||||||||||||||
| Senior notes interest rate | 5.875% | 5.75% | ||||||||||||||||||||||||||||||
| Senior notes maturity date | February 15, 2013 | March 15, 2020 | ||||||||||||||||||||||||||||||
| Line of credit facility, Current borrowing capacity | 150,000,000 | 600,000,000 | 700,000,000 | |||||||||||||||||||||||||||||
| Line of credit facility, Commitment reduction | 400,000,000 | |||||||||||||||||||||||||||||||
| Line of credit facility, Maximum borrowing capacity | 250,000,000 | 1,100,000,000 | 1,000,000,000 | 1,000,000,000 | 150,000,000 | 50,000,000 | 200,000,000 | 300,000,000 | 118,500,000 | 24,500,000 | 109,500,000 | 25,000,000 | ||||||||||||||||||||
| Letters of credit outstanding | 420,500,000 | 576,800,000 | ||||||||||||||||||||||||||||||
| Repayment of the DaVinciRe Credit Agreement | 200,000,000 | |||||||||||||||||||||||||||||||
| Loan to DaVinciRe | 200,000,000 | 200,000,000 | ||||||||||||||||||||||||||||||
| Debt instrument, Variable spread above applicable LIBOR | 0.75% | 3.50% | ||||||||||||||||||||||||||||||
| Maximum Debt to Capital ratio permitted by covenants | 0.35 | 0.40 | ||||||||||||||||||||||||||||||
| Minimum net worth required for covenant compliance | 2,400,000,000 | 1,970,000,000 | 960,000,000 | 500,000,000 | 744,000,000 | |||||||||||||||||||||||||||
| Collateral, Percentage of net asset value in additional RIHL shares to remain unpledged above collateral | 15.00% | |||||||||||||||||||||||||||||||
| Minimum percentage of the net asset value of total RIHL shares to remain unencumbered required for compliance | 15.00% | |||||||||||||||||||||||||||||||
| Collateral, Minimum percentage of aggregate amount of then-outstanding letters of credit | 100.00% | 100.00% | ||||||||||||||||||||||||||||||
| Collateral pledged to support letter of credit | 37,500,000 | |||||||||||||||||||||||||||||||
| Mandatory capital contributions in the event of covenant violation | 50,000,000 | |||||||||||||||||||||||||||||||
| Guarantees | 10,000,000 | 371,200,000 | ||||||||||||||||||||||||||||||
| Line of credit facility, Amount outstanding | 4,400,000 | |||||||||||||||||||||||||||||||
| Interest paid | $ 23,800,000 | $ 17,700,000 | $ 18,700,000 | |||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Collateral, Percentage of Aggregate Amount Outstanding No definition available.
|
| X | ||||||||||
|
- Definition
Collateral, Percentage of Net Asset Value in Additional RIHL Shares to Remain Unpledged Above Collateral No definition available.
|
| X | ||||||||||
|
- Definition
Line of Credit Facility, Decrease in Capacity No definition available.
|
| X | ||||||||||
|
- Definition
Minimum Required for Compliance, Percentage of Net Asset Value of RIHL Shares to Remain Unencumbered No definition available.
|
| X | ||||||||||
|
- Definition
The percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Description of the maturity date of the debt instrument including whether the debt matures serially and, if so, a brief description of the serial maturities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current carrying amount of the liability for the freestanding or embedded guarantor's obligations under the guarantee or each group of similar guarantees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. No definition available.
|
| X | ||||||||||
|
- Definition
Amount borrowed under the credit facility as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, reflects the carrying amount of unpaid loan amounts due from related parties at the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated maximum amount of possible loss from the contingency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The lowest amount of net worth (total assets minus total liabilities) required by secondary market investors or state-imposed regulatory mandates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount, as of the date of the latest financial statement presented, of all assets that are pledged as collateral for the payment of the related debt obligation primarily arising from secured borrowings, repurchase agreements or other current or potential obligations, where the secured party does not have the right by contract or custom to sell or re-pledge the collateral and therefore are not reclassified and separately reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total Aggregate Indebtedness divided by Net Capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the payment of a long-term borrowing made from a related party where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Payments for Advances from Affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Debt (Schedule of Maturities of Long-term Debt) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
|
|---|---|
| Maturities of Long-term Debt [Abstract] | |
| 2012 | $ 4,373 |
| 2013 | 100,000 |
| 2014 | 0 |
| 2015 | 0 |
| 2016 | 0 |
| After 2016 | 250,000 |
| Unamortized debt issuance expenses | (753) |
| Long-term Debt | $ 353,620 |
| X | ||||||||||
|
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date before deducting unamortized discount or premiums (if any). May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturities after year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing within the next twelve months following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year four following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year three following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year two following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The remaining balance of debt issuance expenses that were capitalized and are being amortized against income over the lives of the respective bond issues. This does not include the amounts capitalized as part of the cost of the utility plant or asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Noncontrolling Interests (Schedule Of Redeemable Noncontrolling Interest) (Details) (USD $)
|
0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Jan. 02, 2012
Sale of Equity Method Investment [Member]
|
Jun. 01, 2011
DaVinciRe [Member]
|
Dec. 31, 2011
DaVinciRe [Member]
|
Dec. 31, 2010
DaVinciRe [Member]
|
May 30, 2011
DaVinciRe [Member]
|
Dec. 31, 2009
DaVinciRe [Member]
|
Dec. 31, 2011
DaVinciRe [Member]
Sale of Equity Method Investment [Member]
|
Dec. 31, 2011
DaVinciRe [Member]
Redeemable Noncontrolling Interest Member
|
Jan. 02, 2012
DaVinciRe [Member]
Redeemable Noncontrolling Interest Member
Sale of Equity Method Investment [Member]
|
Jan. 02, 2012
DaVinciRe [Member]
Redeemable Noncontrolling Interest Member
Notice Submitted in Advance of Deadline [Member]
|
Jan. 02, 2011
DaVinciRe [Member]
Redeemable Noncontrolling Interest Member
Notice Submitted in Advance of Deadline [Member]
|
Jan. 02, 2010
DaVinciRe [Member]
Redeemable Noncontrolling Interest Member
Notice Submitted in Advance of Deadline [Member]
|
Dec. 31, 2010
DaVinciRe [Member]
Redeemable Noncontrolling Interest Member
Notice Submitted in Advance of Deadline [Member]
|
Dec. 31, 2009
DaVinciRe [Member]
Redeemable Noncontrolling Interest Member
Notice Submitted in Advance of Deadline [Member]
|
Jan. 02, 2012
DaVinciRe [Member]
Redeemable Noncontrolling Interest Member
Notice Submitted in Advance of Deadline [Member]
Sale of Equity Method Investment [Member]
|
Dec. 31, 2011
DaVinciRe [Member]
Redeemable Noncontrolling Interest Member
Maximum [Member]
|
|
| Redeemable Noncontrolling Interest [Line Items] | ||||||||||||||||||
| Parent company ownership in consolidated subsidiary | 42.80% | 42.80% | 41.20% | 44.00% | 38.20% | 34.70% | ||||||||||||
| Redemption rights, percentage of aggregate shares held, maximum | 50.00% | |||||||||||||||||
| Share repurchase requests, limit | 25.00% | |||||||||||||||||
| Redeemable Noncontrolling Interest, Aggregate Cost of Redemption and Return of Capital | $ 175,000,000 | $ 173,600,000 | ||||||||||||||||
| Minority Interest, Decrease from Redemptions or Purchase of Interests, Reserve Holdback | 10,000,000 | 1,800,000 | 17,500,000 | 17,600,000 | 4,900,000 | |||||||||||||
| Proceeds from Sale of Partial Interest in Consolidated Subsidiaries | 98,900,000 | |||||||||||||||||
| Payments of Dividends, Noncontrolling Interest | 86,600,000 | |||||||||||||||||
| Equity raised from new and existing shareholders | 100,000,000 | |||||||||||||||||
| Equity raised from parent | 30,000,000 | |||||||||||||||||
| Activity in redeemable noncontrolling interest | ||||||||||||||||||
| Balance, Beginning | 657,727,000 | 757,655,000 | 757,655,000 | 786,647,000 | 9,200,000 | 88,400,000 | 173,600,000 | 173,600,000 | 19,000,000 | |||||||||
| Purchase of shares from redeemable noncontrolling interest | (136,225,000) | (142,097,000) | ||||||||||||||||
| Sale of shares to redeemable noncontrolling interests | 70,000,000 | 0 | ||||||||||||||||
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest [Abstract] | ||||||||||||||||||
| Net (loss) income attributable to redeemable noncontrolling interest | (33,697,000) | 116,532,000 | ||||||||||||||||
| Other comprehensive (loss) income attributable to redeemable noncontrolling interest | (6,000) | (3,427,000) | ||||||||||||||||
| Balance, Ending | $ 657,727,000 | $ 757,655,000 | $ 657,727,000 | $ 757,655,000 | $ 88,400,000 | |||||||||||||
| X | ||||||||||
|
- Definition
This item limits the aggregate of all share repurchase requests to 25% of DaVinciRe's capital in any given year and satisfying all applicable regulatory requirements. If total shareholder requests exceed 25% of DaVinciRe's capital, the number of shares repurchased will be reduced among the requesting shareholders pro-rata, based on the amounts desired to be repurchased. No definition available.
|
| X | ||||||||||
|
- Definition
Reserve holdback. No definition available.
|
| X | ||||||||||
|
- Definition
Proceeds from Divestiture of Partial Interest in Consolidated Subsidiaries No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate return of capital to parent and redeemable noncontrolling interests during the period as a result of a shareholder repurchase requests. No definition available.
|
| X | ||||||||||
|
- Definition
Redeemable Noncontrolling Interest, Redemption Requirement, Percentage of Aggregate Shares Held, Maximum No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents a sale (new stock issuance) by a subsidiary to noncontrolling interests (third parties, parties directly or indirectly unrelated to parent) during the period. The capital transaction by subsidiary does not result in a loss of control by the parent, but does effect a change in total (consolidated) equity attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the purchase by the parent of an additional equity interest in a subsidiary during the period, thereby effecting a change in total (consolidated) equity attributable to the parent. The purchase of the additional equity interest represented by this element increases the parent's controlling interest in the subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Decrease in noncontrolling interest (for example, but not limited to, redeeming or purchasing the interests of noncontrolling shareholders, issuance of shares (interests) by the non-wholly owned subsidiary to the parent entity for other than cash, and a buyback of shares (interest) by the non-wholly owned subsidiary from the noncontrolling interests). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The parent entity's interest in net assets of the subsidiary, expressed as a percentage. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of net income or loss for the period attributable to redeemable noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. This element should be used for redeemable noncontrolling interests that are classified within temporary equity. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents Other Comprehensive Income or Loss, Net of Tax, for the period attributable to noncontrolling interest. Includes deferred gains or losses on qualifying hedges, unrealized holding gains or losses on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the return on capital for noncontrolled interest in the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the issuance of common stock, preferred stock, treasury stock, stock options, and other types of equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Noncontrolling Interests (Schedule Of Noncontrolling Interest) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Noncontrolling Interest [Line Items] | |||||||||||
| Ownership interest with other equity investors, Amount | $ 0 | $ 0 | $ 0 | $ 0 | |||||||
| Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | |||||||||||
| Balance, Beginning | 2,889 | 2,889 | |||||||||
| Net sale of shares to noncontrolling interest | 0 | 3,000 | 0 | ||||||||
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest [Abstract] | |||||||||||
| Net income (loss) attributable to noncontrolling interest | 25,388 | 5,044 | 21,903 | (85,492) | 16,432 | 37,524 | 51,915 | 10,550 | (33,157) | 116,421 | 171,501 |
| Balance, Ending | 3,340 | 2,889 | 3,340 | 2,889 | |||||||
|
Angus Fund Member
|
|||||||||||
| Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | |||||||||||
| Balance, Beginning | 2,889 | 0 | 2,889 | 0 | |||||||
| Net sale of shares to noncontrolling interest | 100 | 3,000 | |||||||||
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest [Abstract] | |||||||||||
| Net income (loss) attributable to noncontrolling interest | 540 | (111) | |||||||||
| Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (189) | 0 | |||||||||
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest | 0 | 0 | |||||||||
| Balance, Ending | 3,340 | 2,889 | 3,340 | 2,889 | |||||||
|
Real Member | Angus Fund Member
|
|||||||||||
| Noncontrolling Interest [Line Items] | |||||||||||
| Ownership interest with other equity investors, Amount | 41 | 40 | 41 | 40 | |||||||
| Parent company ownership in consolidated subsidiary | 1.00% | 1.00% | 1.00% | 1.00% | |||||||
|
Rrca Member | Angus Fund Member
|
|||||||||||
| Noncontrolling Interest [Line Items] | |||||||||||
| Ownership interest with other equity investors, Amount | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | |||||||
| Parent company ownership in consolidated subsidiary | 24.20% | 24.80% | 24.20% | 24.80% | |||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The parent entity's interest in net assets of the subsidiary, expressed as a percentage. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of net Income or Loss attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents Other Comprehensive Income or Loss, Net of Tax, for the period attributable to noncontrolling interest. Includes deferred gains or losses on qualifying hedges, unrealized holding gains or losses on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow contributed by noncontrolled interest that purchase additional shares or otherwise increase their ownership stake in a subsidiary of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Shareholders' Equity (Details) (USD $)
|
0 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Feb. 22, 2012
|
Dec. 31, 2011
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2011
Common Stock [Member]
|
Dec. 31, 2010
Common Stock [Member]
|
Dec. 31, 2009
Common Stock [Member]
|
Dec. 31, 2006
Series D Preferred Stock [Member]
|
Dec. 31, 2011
Series D Preferred Stock [Member]
|
Nov. 30, 2011
Series D Preferred Stock [Member]
|
Mar. 31, 2004
Series C Preferred Stock [Member]
|
Dec. 31, 2011
Series C Preferred Stock [Member]
|
Mar. 23, 2009
Series C Preferred Stock [Member]
|
Mar. 31, 2006
Series C Preferred Stock [Member]
|
Dec. 20, 2010
Series B Preferred Stock [Member]
|
Nov. 17, 2010
Series B Preferred Stock [Member]
|
Feb. 28, 2003
Series B Preferred Stock [Member]
|
Dec. 31, 2011
Retained Earnings [Member]
|
Dec. 31, 2010
Retained Earnings [Member]
|
Dec. 31, 2009
Retained Earnings [Member]
|
|
| Class of Stock [Line Items] | |||||||||||||||||||||||||||||
| Aggregate authorized shares | 325,000,000 | 325,000,000 | 325,000,000 | ||||||||||||||||||||||||||
| Authorized common shares | 225,000,000 | 225,000,000 | 225,000,000 | ||||||||||||||||||||||||||
| Authorized preference shares | 100,000,000 | 100,000,000 | 100,000,000 | ||||||||||||||||||||||||||
| Change in Common Shares Issued and Outstanding | |||||||||||||||||||||||||||||
| Common Shares, Issued at Beginning of Period | 54,109,840 | 54,109,840 | 54,110,000 | 61,745,000 | 61,503,000 | ||||||||||||||||||||||||
| Common Shares, Outstanding at Beginning of Period | 54,109,840 | 54,109,840 | 54,110,000 | 61,745,000 | 61,503,000 | ||||||||||||||||||||||||
| Shares repurchased | (2,889,000) | (8,198,000) | (951,000) | ||||||||||||||||||||||||||
| Exercise of options and issuance of restricted stock awards | 322,000 | 563,000 | 1,193,000 | ||||||||||||||||||||||||||
| Common Shares, Issued at End of Period | 51,542,955 | 51,542,955 | 54,109,840 | 51,542,955 | 54,109,840 | 51,543,000 | 54,110,000 | 61,745,000 | |||||||||||||||||||||
| Common Shares, Outstanding at End of Period | 51,542,955 | 51,542,955 | 54,109,840 | 51,542,955 | 54,109,840 | 51,543,000 | 54,110,000 | 61,745,000 | |||||||||||||||||||||
| Share repurchase program, Authorized aggregate amount | $ 500,000,000 | ||||||||||||||||||||||||||||
| Common shares repurchased during period, Aggregate value | (191,600,000) | (460,400,000) | (51,000,000) | ||||||||||||||||||||||||||
| Share repurchase program, Remaining authorized aggregate amount | 483,200,000 | ||||||||||||||||||||||||||||
| Dividends declared, Per common share | $ 1.04 | $ 1.00 | $ 0.96 | ||||||||||||||||||||||||||
| Dividends declared, Common shares | 53,460,000 | 55,936,000 | 59,740,000 | ||||||||||||||||||||||||||
| Proceeds from issuance of preference shares | 300,000,000 | 250,000,000 | 100,000,000 | ||||||||||||||||||||||||||
| Preference shares issued, Shares | 12,000,000 | 10,000,000 | 4,000,000 | ||||||||||||||||||||||||||
| Preference shares issued, Issuance price per share | $ 25 | $ 25 | $ 25 | ||||||||||||||||||||||||||
| Preference shares, Dividend rate | 7.30% | 6.60% | 6.08% | 7.30% | 7.30% | ||||||||||||||||||||||||
| Preference shares, Redemption price per share | $ 25 | $ 25 | $ 25 | ||||||||||||||||||||||||||
| Preference shares redeemed, Cost | 100,000,000 | ||||||||||||||||||||||||||||
| Dividends declared, Preference shares | $ 8,750,000 | $ 8,750,000 | $ 8,750,000 | $ 8,750,000 | $ 10,393,000 | $ 10,575,000 | $ 10,575,000 | $ 10,575,000 | $ 35,000,000 | $ 42,118,000 | $ 42,300,000 | $ 35,000,000 | $ 42,118,000 | $ 42,300,000 | |||||||||||||||
| X | ||||||||||
|
- Definition
Dollar amount per share of new stock issued during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The maximum number of common shares and nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for common shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for preferred shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The cash outflow for reacquisition of callable preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The percentage rate used to calculate dividend payments on preferred stock. No definition available.
|
| X | ||||||||||
|
- Definition
The price per share at which the preferred stock of an entity that has priority over common stock in the distribution of dividends and in the event of liquidation of the entity is redeemed or may be called at. The redemption features of this preferred stock are solely within the control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Proceeds from issuance of capital stock which provides for a specific dividend that is paid to the shareholders before any dividends to common stockholders and which takes precedence over common stockholders in the event of liquidation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount authorized by an entity's Board of Directors under a stock repurchase plan. No definition available.
|
| X | ||||||||||
|
- Definition
The remaining repurchase amount authorized by an entity's Board of Directors under a stock repurchase plan. No definition available.
|
|
Earnings Per Share (Computation Of Basic And Diluted Earnings Per Common Share) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
||||||
| Numerator: | ||||||||||||||||
| Net (loss) income (attributable) available to RenaissanceRe common shareholders | $ 81,771 | $ 49,263 | $ 24,764 | $ (248,033) | $ 122,575 | $ 204,750 | $ 210,241 | $ 165,047 | $ (92,235) | $ 702,613 | $ 838,858 | |||||
| Amount allocated to participating common shareholders (1) | (990) | [1] | (17,765) | [1] | (18,473) | [1] | ||||||||||
| Net (loss) income allocated to RenaissanceRe common shareholders | $ (93,225) | $ 684,848 | $ 820,385 | |||||||||||||
| Denominator for basic income per RenaissanceRe common share | ||||||||||||||||
| Weighted average common shares (In shares) | 50,501 | 50,501 | 50,493 | 51,504 | 53,166 | 53,467 | 55,538 | 58,407 | 50,747 | 55,145 | 60,775 | |||||
| Per common share equivalents of employee stock options and restricted shares (In shares) | 0 | 496 | 435 | |||||||||||||
| Denominator for diluted income per RenaissanceRe common share | ||||||||||||||||
| Adjusted weighted average common shares outstanding and assumed conversions (In shares) | 50,860 | 50,973 | 51,050 | 51,504 | 53,667 | 53,965 | 56,044 | 58,887 | 50,747 | 55,641 | 61,210 | |||||
| Basic (loss) income per RenaissanceRe common share (In dollars per share) | $ 1.59 | $ 0.96 | $ 0.48 | $ (4.69) | $ 2.25 | $ 3.73 | $ 3.69 | $ 2.75 | $ (1.84) | $ 12.42 | $ 13.50 | |||||
| Diluted (loss) income per RenaissanceRe common share (In dollars per share) | $ 1.58 | $ 0.95 | $ 0.48 | $ (4.69) | $ 2.23 | $ 3.70 | $ 3.66 | $ 2.73 | $ (1.84) | $ 12.31 | $ 13.40 | |||||
|
||||||||||||||||
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The earnings that is allocated to common stock and participating securities to the extent that each security may share in earnings as if all of the earnings for the period had been distributed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Earnings allocated (not distributed) to participating securities under the two-class method to the extent that participating securities may share in earnings as if all of the earnings for the period had been distributed. No definition available.
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Related Party Transactions and Major Customers (Details) (USD $)
|
3 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2011
Reinsurance [Member]
|
Dec. 31, 2010
Reinsurance [Member]
|
Dec. 31, 2009
Reinsurance [Member]
|
Dec. 31, 2011
Gross Premiums Written [Member]
Reinsurance [Member]
brokers
|
Dec. 31, 2010
Gross Premiums Written [Member]
Reinsurance [Member]
|
Dec. 31, 2009
Gross Premiums Written [Member]
Reinsurance [Member]
|
Dec. 31, 2011
AON Benfield [Member]
Gross Premiums Written [Member]
Reinsurance [Member]
|
Dec. 31, 2010
AON Benfield [Member]
Gross Premiums Written [Member]
Reinsurance [Member]
|
Dec. 31, 2009
AON Benfield [Member]
Gross Premiums Written [Member]
Reinsurance [Member]
|
Dec. 31, 2011
Marsh Inc. [Member]
Gross Premiums Written [Member]
Reinsurance [Member]
|
Dec. 31, 2010
Marsh Inc. [Member]
Gross Premiums Written [Member]
Reinsurance [Member]
|
Dec. 31, 2009
Marsh Inc. [Member]
Gross Premiums Written [Member]
Reinsurance [Member]
|
Dec. 31, 2011
Willis Group [Member]
Gross Premiums Written [Member]
Reinsurance [Member]
|
Dec. 31, 2010
Willis Group [Member]
Gross Premiums Written [Member]
Reinsurance [Member]
|
Dec. 31, 2009
Willis Group [Member]
Gross Premiums Written [Member]
Reinsurance [Member]
|
Dec. 31, 2011
Tower Hill [Member]
|
Dec. 31, 2010
Tower Hill [Member]
|
Dec. 31, 2009
Tower Hill [Member]
|
Dec. 31, 2011
Angus Fund Member
|
Dec. 31, 2010
Angus Fund Member
|
Dec. 31, 2008
Angus Fund Member
|
Dec. 31, 2011
Top Layer Re [Member]
|
Dec. 31, 2010
Top Layer Re [Member]
|
Dec. 31, 2009
Top Layer Re [Member]
|
|
| Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||
| Promissory note receivable | $ 4,500,000 | $ 5,000,000 | |||||||||||||||||||||||||||||||||
| Spread over LIBOR on Promissory note | 6.00% | ||||||||||||||||||||||||||||||||||
| Gross premiums written | 42,970,000 | 139,938,000 | 641,563,000 | 610,505,000 | 31,201,000 | 111,543,000 | 506,540,000 | 516,011,000 | 1,434,976,000 | 1,165,295,000 | 1,228,881,000 | 1,323,187,000 | 1,123,619,000 | 1,210,795,000 | 29,800,000 | 29,700,000 | 28,100,000 | ||||||||||||||||||
| Gross premiums earned | 28,900,000 | 38,400,000 | 58,500,000 | ||||||||||||||||||||||||||||||||
| Acquisition expenses | 25,101,000 | 26,057,000 | 13,883,000 | 32,335,000 | 18,803,000 | 26,143,000 | 23,580,000 | 26,435,000 | 97,376,000 | 94,961,000 | 104,150,000 | 82,978,000 | 77,954,000 | 78,848,000 | 3,300,000 | 4,100,000 | 14,300,000 | ||||||||||||||||||
| Net related outstanding receivables | 12,200,000 | 14,900,000 | |||||||||||||||||||||||||||||||||
| Claims and claim expenses assumed or recovered | 409,308,000 | 49,077,000 | (10,535,000) | (8,000,000) | 15,500,000 | 10,000,000 | |||||||||||||||||||||||||||||
| Reserve for claims and claim expenses | 1,992,354,000 | 1,257,843,000 | 1,992,354,000 | 1,257,843,000 | 11,600,000 | 13,900,000 | |||||||||||||||||||||||||||||
| Distribution from related party | 9,500,000 | 17,900,000 | 16,400,000 | 9,500,000 | 0 | 12,900,000 | 11,500,000 | ||||||||||||||||||||||||||||
| Investment cost for equity method investment | 131,875,000 | 105,875,000 | 131,875,000 | 105,875,000 | 6,000,000 | ||||||||||||||||||||||||||||||
| Ownership % | 40.00% | ||||||||||||||||||||||||||||||||||
| Derivative, net asset (liability) position | 3,800,000 | (900,000) | |||||||||||||||||||||||||||||||||
| Other income from transaction with related party | 300,000 | 0 | 3,400,000 | 8,300,000 | 1,200,000 | ||||||||||||||||||||||||||||||
| Management fees | 3,700,000 | 3,300,000 | 3,300,000 | ||||||||||||||||||||||||||||||||
| Additional paid-in capital contributed | $ 38,500,000 | $ 13,800,000 | |||||||||||||||||||||||||||||||||
| Reinsurers with the three largest balances, Percentage | 90.70% | 88.20% | 90.10% | 56.10% | 53.50% | 58.70% | 21.90% | 23.10% | 20.90% | 12.70% | 11.60% | 10.50% | |||||||||||||||||||||||
| Number of significant customers | 3 | ||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Total consideration paid and payable by direct and assumed policyholders for insurance and reinsurance contracts sold by the entity during the period. This amount includes premium assumed from other insurers. No definition available.
|
| X | ||||||||||
|
- Definition
Number of Significant Customers No definition available.
|
| X | ||||||||||
|
- Definition
Premiums Earned, Gross No definition available.
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, amount of receivables arising from transactions with related parties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred policy acquisition costs charged to expense in the period, generally in proportion to related revenue earned, estimated gross profits, or over the customer relationship or some other period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value as of the balance sheet date of the assets less the liabilities of a derivative or group of derivatives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the aggregate cost of investments accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents disclosure of the amount of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporation; these investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The percentage points (also referred to as 'margin') added to the reference rate as stated in the loan agreement and used to compute the variable rate on the loans receivable. For instance, the loan agreement might state that the interest rate the borrower is obligated to pay is the London Interbank Offered Rate (LIBOR) plus three quarters (3/4) of a percentage point adjusted quarterly (each three months). LIBOR in this example is the index or reference rate, 3/4 percentage point is the margin, the reference rate plus the margin is the fully indexed rate. This element would be used to report separately the margin. No definition available.
|
| X | ||||||||||
|
- Definition
Revenue, comprised of base and incentive revenue derived from the management of joint ventures, managing third-party properties, or another entity's operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The distributions of earnings to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net amount in the period for future policy benefits and costs incurred under policies assumed and estimated recoupments under policies ceded. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Receivables to be collected from (obligations owed to) related parties, net as of the balance sheet date where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Reflects the sum of all other revenue and income realized from sales and other transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party during the period. No definition available.
|
|
Taxation Narrative (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Operating Loss Carryforwards [Line Items] | |||
| Net increase to valuation allowance | $ 31.4 | $ 1.2 | $ 1.0 |
| Income taxes, net payments made | 11.0 | 3.5 | |
| Income taxes, net refunds received | 0.4 | ||
| Unrecognized tax benefits | 3.3 | 0 | |
| Accrued interest and penalties on unrecognized tax benefits | 0 | ||
|
United States [Member]
|
|||
| Operating Loss Carryforwards [Line Items] | |||
| Net operating loss carryforwards | 25.6 | ||
|
Ireland [Member]
|
|||
| Operating Loss Carryforwards [Line Items] | |||
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 12.50% | ||
| Net operating loss carryforwards | 14.0 | ||
|
United Kingdom [Member]
|
|||
| Operating Loss Carryforwards [Line Items] | |||
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 26.00% | ||
| Net operating loss carryforwards | $ 27.1 | ||
| X | ||||||||||
|
- Definition
The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate is the regular tax rate if there are alternative tax systems. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of domestic, foreign and state and local operating loss carryforwards, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of cash received during the period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the total of accruals as of the date of the statement of financial position for interest recognized for an underpayment of income taxes computed by applying the applicable statutory rate of interest to the difference between a tax position recognized for financial reporting purposes and the amount previously taken or expected to be taken in a tax return of the entity and the amount of statutory penalties for a tax position claimed or expected to be claimed by the entity, in its tax return, that does not meet the minimum statutory threshold to avoid payment of penalties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the change in the period in the valuation allowance for a specified deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Taxation (Income before Income Taxes, Foreign and Domestic) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| (Loss) income from continuing operations before taxes | |||||||||||
| U.S. (domestic) | $ (81,549) | $ (10,938) | $ 17,692 | ||||||||
| Non-U.S. (foreign) | 6,732 | 803,296 | 1,038,298 | ||||||||
| (Loss) income from continuing operations before taxes | $ 122,159 | $ 62,587 | $ 63,738 | $ (323,301) | $ 138,488 | $ 229,216 | $ 252,892 | $ 171,762 | $ (74,817) | $ 792,358 | $ 1,055,990 |
| X | ||||||||||
|
- Definition
The portion of earnings or loss from continuing operations before income taxes that is attributable to domestic operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of earnings or loss from continuing operations before income taxes that is attributable to foreign operations, which is defined as Income or Loss generated from operations located outside the entity's country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Taxation (Components of Income Tax Benefit (Expense)) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Total income tax benefit (expense) | |||||||||||
| Current | $ 13,467 | $ (1,384) | $ 139 | ||||||||
| Deferred | (13,152) | 7,508 | (10,170) | ||||||||
| Income tax benefit (expense) | $ (2,945) | $ 1,435 | $ 1,773 | $ 52 | $ (196) | $ 2,399 | $ 958 | $ 2,963 | $ 315 | $ 6,124 | $ (10,031) |
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Taxation (Income Tax Reconciliation) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Income Tax [Line Items] | |||||||||||
| Expected income tax benefit (expense) | $ 30,589 | $ 5,647 | $ (5,834) | ||||||||
| Transfer pricing adjustments | (306) | 37 | (2,830) | ||||||||
| Change in valuation allowance | (27,601) | (1,175) | (979) | ||||||||
| Non-deductible expenses | (941) | (28) | (65) | ||||||||
| State income tax expense, net of federal benefit | (871) | (67) | (223) | ||||||||
| Other | (555) | 1,710 | (100) | ||||||||
| Income tax benefit (expense) | $ (2,945) | $ 1,435 | $ 1,773 | $ 52 | $ (196) | $ 2,399 | $ 958 | $ 2,963 | $ 315 | $ 6,124 | $ (10,031) |
|
Bermuda [Member]
|
|||||||||||
| Income Tax [Line Items] | |||||||||||
| Statutory rates | 0.00% | ||||||||||
|
Internal Revenue Service (IRS) [Member]
|
|||||||||||
| Income Tax [Line Items] | |||||||||||
| Statutory rates | 35.00% | ||||||||||
|
Ireland [Member]
|
|||||||||||
| Income Tax [Line Items] | |||||||||||
| Statutory rates | 12.50% | ||||||||||
|
United Kingdom [Member]
|
|||||||||||
| Income Tax [Line Items] | |||||||||||
| Statutory rates | 26.00% | ||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate is the regular tax rate if there are alternative tax systems. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference between total income tax expense or benefit as reported in the Income Statement and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to changes in the valuation allowance for deferred tax assets in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the differences between total income tax expense or benefit as reported in the Income Statement for the period and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to nondeductible expenses under enacted tax laws, or differences in the methodologies used to determine expense amounts for financial statements prepared in accordance with generally accepted accounting principles and enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference, between total income tax expense or benefit as reported in the Income Statement for the year/accounting period and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations, that is attributable to all other items not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of other amounts reflected in the reconciliation of the statutory tax provision (benefit) to the actual tax provision (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference, between total income tax expense or benefit as reported in the Income Statement for the period and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations, that is attributable to state and local income tax expense or benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Taxation (Deferred Tax Assets and Liabilities) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Deferred tax assets | ||
| Tax loss and credit carryforwards | $ 19,230 | $ 3,471 |
| Accrued expenses | 2,983 | 4,427 |
| Investments | 7,744 | 4,209 |
| Deferred interest expense | 4,011 | 0 |
| Amortization and depreciation | 1,256 | 217 |
| Deferred tax assets, Gross | 35,224 | 12,324 |
| Deferred tax liabilities | ||
| Tax sharing obligation | 0 | (8,744) |
| Amortization and depreciation | (649) | (635) |
| Deferred tax liabilities | (649) | (9,379) |
| Net deferred tax asset before valuation allowance | 34,575 | 2,945 |
| Valuation allowance | (34,983) | (3,537) |
| Net deferred tax liability | $ (408) | $ (592) |
| X | ||||||||||
|
- Definition
The sum of the tax effects as of the balance sheet date of deferred tax assets and deferred tax liabilities, before consideration of the valuation allowance recorded as of the balance sheet date pertaining to the specified deferred tax asset for which an assessment was made that it is more likely than not that all or a portion of such deferred tax asset will not be realized through related deductions on future tax returns. No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Assets, Depreciation and Amortization No definition available.
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax reductions attributable to: (1) the difference between the tax basis and the generally accepted accounting principles basis of a company's equity method investment which will decrease future taxable income when such basis difference reverses, and (2) before any related valuation allowance, arising from unrealized losses on available-for-sale securities which can only be deducted for tax purposes when the losses are realized, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Liabilities, Depreciation and Amortization No definition available.
|
| X | ||||||||||
|
- Definition
The sum of the tax effects as of the balance sheet date of the amounts of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws ( before the valuation allowance, if any, to reduce such sum amount to net realizable value). Includes any tax benefit realized in deferred tax assets for significant impacts of tax planning strategies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
For entities that net deferred tax assets and tax liabilities, represents the unclassified net amount of deferred tax assets and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities. A temporary difference is a difference between the tax basis of an asset or liability and its carrying amount in the financial statements prepared in accordance with generally accepted accounting principles that will reverse in ensuing periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the tax effects as of the balance sheet date of the amount of excesses of tax deductions over gross income in a year which cannot be used on the tax returns in the current year but can be carried forward to reduce taxable income or income taxes payable in a future year, for which there must be sufficient tax-basis income to utilize a portion or all of the carryforward amount to realize the deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of future tax deductions arising from tax carryforwards not otherwise specified in the taxonomy and which can only be utilized if sufficient tax-basis income is generated in future periods and providing tax laws continue to allow utilization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from currently nondeductible expenses in accrued liabilities, which can only be deducted for tax purposes when such items are actually incurred, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the portions of deferred tax assets as of the balance sheet date for which, based on the weight of available evidence, it is more likely than not will not be realized through future reductions of tax-based income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cumulative amount of all deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A taxable temporary difference is a difference between the tax basis and the carrying amount of an asset or liability in the financial statements prepared in accordance with generally accepted accounting principles that will result in taxable amounts in one or more future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The cumulative amount of the estimated future tax effects attributable to other temporary differences not otherwise specified in this taxonomy that were expensed for tax purposes but capitalized in conformity with generally accepted accounting principles, or which were recognized as revenue under GAAP but not for tax purposes, which will reverse in future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Segment Reporting Narrative (Details)
|
12 Months Ended |
|---|---|
|
Dec. 31, 2011
segments
|
|
| Segment Reporting Information [Line Items] | |
| Reportable Segments | 3 |
|
Insurance [Member]
|
|
| Segment Reporting Information [Line Items] | |
| Number of States in which Glencoe Operates | 49 |
| X | ||||||||||
|
- Definition
Disclosure of the number of segments reported by the entity. No definition available.
|
| X | ||||||||||
|
- Definition
The number of states the entity operates in as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Segment Reporting (Schedule Of Significant Components Of The Company's Revenues And Expenses) (Details) (USD $)
|
3 Months Ended | 12 Months Ended | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Mar. 31, 2009
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
||||||||||
| Gross premiums written | $ 42,970,000 | $ 139,938,000 | $ 641,563,000 | $ 610,505,000 | $ 31,201,000 | $ 111,543,000 | $ 506,540,000 | $ 516,011,000 | $ 1,434,976,000 | $ 1,165,295,000 | $ 1,228,881,000 | ||||||||||
| Net premiums written | 29,193,000 | 103,010,000 | 427,995,000 | 452,575,000 | 30,165,000 | 82,307,000 | 329,334,000 | 407,159,000 | 1,012,773,000 | 848,965,000 | 838,333,000 | ||||||||||
| Net premiums earned | 199,109,000 | 229,224,000 | 217,175,000 | 305,541,000 | 189,742,000 | 212,355,000 | 212,171,000 | 250,653,000 | 951,049,000 | 864,921,000 | 882,204,000 | ||||||||||
| Net claims and claim expenses incurred | (3,551,000) | (77,830,000) | (151,261,000) | (628,537,000) | 27,128,000 | (77,936,000) | 18,803,000 | (97,340,000) | (861,179,000) | (129,345,000) | 70,698,000 | ||||||||||
| Acquisition expenses | 25,101,000 | 26,057,000 | 13,883,000 | 32,335,000 | 18,803,000 | 26,143,000 | 23,580,000 | 26,435,000 | 97,376,000 | 94,961,000 | 104,150,000 | ||||||||||
| Operational expenses | 43,368,000 | 42,169,000 | 42,299,000 | 41,830,000 | 45,882,000 | 36,970,000 | 38,040,000 | 45,150,000 | 169,666,000 | 166,042,000 | 153,552,000 | ||||||||||
| Underwriting income (loss) | (177,172,000) | 474,573,000 | 695,200,000 | ||||||||||||||||||
| Net investment income | 52,331,000 | (27,940,000) | 33,328,000 | 60,281,000 | 52,503,000 | 59,570,000 | 26,173,000 | 65,709,000 | 118,000,000 | 203,955,000 | 318,179,000 | ||||||||||
| Net foreign exchange losses | (400,000) | (2,650,000) | (4,521,000) | 660,000 | (4,646,000) | (529,000) | (609,000) | (11,342,000) | (6,911,000) | (17,126,000) | (13,623,000) | ||||||||||
| Equity in earnings (losses) of other ventures | (22,702,000) | 4,794,000 | 5,128,000 | (23,753,000) | (10,390,000) | (6,740,000) | 3,160,000 | 2,156,000 | (36,533,000) | (11,814,000) | 10,976,000 | ||||||||||
| Other (loss) income | (43,648,000) | (2,015,000) | (5,167,000) | 50,145,000 | 26,032,000 | 25,021,000 | (3,742,000) | (6,191,000) | (685,000) | 41,120,000 | 1,798,000 | ||||||||||
| Net realized and unrealized gains on investments | 23,920,000 | 16,983,000 | 34,979,000 | (5,214,000) | (66,149,000) | 92,342,000 | 70,051,000 | 48,200,000 | 70,668,000 | 144,444,000 | 93,679,000 | ||||||||||
| Net other-than-temporary impairments | (103,000) | (449,000) | 0 | 0 | 0 | 0 | (796,000) | (33,000) | (19,000,000) | (552,000) | (829,000) | (22,450,000) | |||||||||
| Corporate expenses | (8,607,000) | (3,582,000) | (4,011,000) | (2,064,000) | (4,744,000) | (5,590,000) | (4,493,000) | (5,309,000) | (18,264,000) | (20,136,000) | (12,658,000) | ||||||||||
| Interest expense | (5,721,000) | (5,722,000) | (5,730,000) | (6,195,000) | (6,303,000) | (6,164,000) | (6,206,000) | (3,156,000) | (23,368,000) | (21,829,000) | (15,111,000) | ||||||||||
| Income (loss) from continuing operations before taxes | 122,159,000 | 62,587,000 | 63,738,000 | (323,301,000) | 138,488,000 | 229,216,000 | 252,892,000 | 171,762,000 | (74,817,000) | 792,358,000 | 1,055,990,000 | ||||||||||
| Income tax benefit (expense) | (2,945,000) | 1,435,000 | 1,773,000 | 52,000 | (196,000) | 2,399,000 | 958,000 | 2,963,000 | 315,000 | 6,124,000 | (10,031,000) | ||||||||||
| Net (loss) income from discontinued operations | (3,305,000) | (965,000) | (10,094,000) | (1,526,000) | 11,108,000 | 21,234,000 | 18,881,000 | 11,447,000 | (15,890,000) | 62,670,000 | 6,700,000 | ||||||||||
| Net loss attributable to noncontrolling interests | (25,388,000) | (5,044,000) | (21,903,000) | 85,492,000 | (16,432,000) | (37,524,000) | (51,915,000) | (10,550,000) | 33,157,000 | (116,421,000) | (171,501,000) | ||||||||||
| Dividends on preference shares | (8,750,000) | (8,750,000) | (8,750,000) | (8,750,000) | (10,393,000) | (10,575,000) | (10,575,000) | (10,575,000) | (35,000,000) | (42,118,000) | (42,300,000) | ||||||||||
| Net income (loss) available (attributable) to RenaissanceRe common shareholders | 81,771,000 | 49,263,000 | 24,764,000 | (248,033,000) | 122,575,000 | 204,750,000 | 210,241,000 | 165,047,000 | (92,235,000) | 702,613,000 | 838,858,000 | ||||||||||
| Net claims and claim expenses incurred - current accident year | 993,168,000 | 431,476,000 | 195,518,000 | ||||||||||||||||||
| Net claims and claim expenses incurred - prior accident years | (131,989,000) | (302,131,000) | (266,216,000) | ||||||||||||||||||
| Net claims and claim expenses incurred | (3,551,000) | (77,830,000) | (151,261,000) | (628,537,000) | 27,128,000 | (77,936,000) | 18,803,000 | (97,340,000) | (861,179,000) | (129,345,000) | 70,698,000 | ||||||||||
| Net claims and claim expense ratio - current accident year | 104.40% | 49.90% | 22.20% | ||||||||||||||||||
| Net claims and claim expense ratio - prior accident years | (13.80%) | (34.90%) | (30.20%) | ||||||||||||||||||
| Net claims and claim expense ratio - calendar year | 90.60% | 15.00% | (8.00%) | ||||||||||||||||||
| Underwriting expense ratio | 34.40% | 29.70% | 25.90% | 24.30% | 34.10% | 29.70% | 29.10% | 28.60% | 28.00% | 30.10% | 29.20% | ||||||||||
| Combined ratio | 36.20% | 63.70% | 95.50% | 230.00% | 19.80% | 66.40% | 20.20% | 67.40% | 118.60% | 45.10% | 21.20% | ||||||||||
|
Reinsurance [Member]
|
|||||||||||||||||||||
| Gross premiums written | 1,323,187,000 | 1,123,619,000 | 1,210,795,000 | ||||||||||||||||||
| Net premiums written | 913,499,000 | 809,719,000 | 839,023,000 | ||||||||||||||||||
| Net premiums earned | 873,088,000 | 838,790,000 | 849,725,000 | ||||||||||||||||||
| Net claims and claim expenses incurred | (783,704,000) | (113,804,000) | 87,639,000 | ||||||||||||||||||
| Acquisition expenses | 82,978,000 | 77,954,000 | 78,848,000 | ||||||||||||||||||
| Operational expenses | 131,251,000 | 129,990,000 | 139,328,000 | ||||||||||||||||||
| Underwriting income (loss) | (124,845,000) | 517,042,000 | 719,188,000 | ||||||||||||||||||
| Net claims and claim expenses incurred - current accident year | 920,602,000 | 399,823,000 | 161,868,000 | ||||||||||||||||||
| Net claims and claim expenses incurred - prior accident years | (136,898,000) | (286,019,000) | (249,507,000) | ||||||||||||||||||
| Net claims and claim expenses incurred | (783,704,000) | (113,804,000) | 87,639,000 | ||||||||||||||||||
| Net claims and claim expense ratio - current accident year | 105.40% | 47.70% | 19.00% | ||||||||||||||||||
| Net claims and claim expense ratio - prior accident years | (15.60%) | (34.10%) | (29.30%) | ||||||||||||||||||
| Net claims and claim expense ratio - calendar year | 89.80% | 13.60% | (10.30%) | ||||||||||||||||||
| Underwriting expense ratio | 24.50% | 24.80% | 25.70% | ||||||||||||||||||
| Combined ratio | 114.30% | 38.40% | 15.40% | ||||||||||||||||||
|
Lloyd's [Member]
|
|||||||||||||||||||||
| Gross premiums written | 111,584,000 | 66,209,000 | |||||||||||||||||||
| Net premiums written | 98,617,000 | 61,189,000 | |||||||||||||||||||
| Net premiums earned | 76,386,000 | 50,204,000 | |||||||||||||||||||
| Net claims and claim expenses incurred | (73,259,000) | (25,676,000) | |||||||||||||||||||
| Acquisition expenses | 14,031,000 | 10,784,000 | |||||||||||||||||||
| Operational expenses | 36,732,000 | 24,837,000 | |||||||||||||||||||
| Underwriting income (loss) | (47,636,000) | (11,093,000) | |||||||||||||||||||
| Net claims and claim expenses incurred - current accident year | 72,781,000 | 25,873,000 | |||||||||||||||||||
| Net claims and claim expenses incurred - prior accident years | 478,000 | (197,000) | |||||||||||||||||||
| Net claims and claim expenses incurred | (73,259,000) | (25,676,000) | |||||||||||||||||||
| Net claims and claim expense ratio - current accident year | 95.30% | 51.50% | |||||||||||||||||||
| Net claims and claim expense ratio - prior accident years | 0.60% | (0.40%) | |||||||||||||||||||
| Net claims and claim expense ratio - calendar year | 95.90% | 51.10% | |||||||||||||||||||
| Underwriting expense ratio | 66.50% | 71.00% | |||||||||||||||||||
| Combined ratio | 162.40% | 122.10% | |||||||||||||||||||
|
Insurance [Member]
|
|||||||||||||||||||||
| Gross premiums written | 282,000 | 2,585,000 | 30,736,000 | ||||||||||||||||||
| Net premiums written | 657,000 | (21,943,000) | (690,000) | ||||||||||||||||||
| Net premiums earned | 1,575,000 | (24,073,000) | 32,479,000 | ||||||||||||||||||
| Net claims and claim expenses incurred | (4,216,000) | 10,135,000 | (16,941,000) | ||||||||||||||||||
| Acquisition expenses | 367,000 | 6,223,000 | 25,302,000 | ||||||||||||||||||
| Operational expenses | 1,683,000 | 11,215,000 | 14,224,000 | ||||||||||||||||||
| Underwriting income (loss) | (4,691,000) | (31,376,000) | (23,988,000) | ||||||||||||||||||
| Net claims and claim expenses incurred - current accident year | (215,000) | 5,780,000 | 33,650,000 | ||||||||||||||||||
| Net claims and claim expenses incurred - prior accident years | 4,431,000 | (15,915,000) | (16,709,000) | ||||||||||||||||||
| Net claims and claim expenses incurred | (4,216,000) | 10,135,000 | (16,941,000) | ||||||||||||||||||
| Net claims and claim expense ratio - current accident year | (13.70%) | (24.00%) | 103.60% | ||||||||||||||||||
| Net claims and claim expense ratio - prior accident years | 281.40% | 66.10% | (51.40%) | ||||||||||||||||||
| Net claims and claim expense ratio - calendar year | 267.70% | 42.10% | 52.20% | ||||||||||||||||||
| Underwriting expense ratio | 130.10% | (72.40%) | 121.70% | ||||||||||||||||||
| Combined ratio | 397.80% | (30.30%) | 173.90% | ||||||||||||||||||
|
Eliminations [Member]
|
|||||||||||||||||||||
| Gross premiums written | (77,000) | [1] | (27,118,000) | [2] | (12,650,000) | [3] | |||||||||||||||
|
All Other Segments [Member]
|
|||||||||||||||||||||
| Gross premiums written | 0 | 0 | 0 | ||||||||||||||||||
| Net premiums written | 0 | 0 | 0 | ||||||||||||||||||
| Net premiums earned | 0 | 0 | 0 | ||||||||||||||||||
| Net claims and claim expenses incurred | 0 | 0 | 0 | ||||||||||||||||||
| Acquisition expenses | 0 | 0 | 0 | ||||||||||||||||||
| Operational expenses | 0 | 0 | 0 | ||||||||||||||||||
| Underwriting income (loss) | 0 | 0 | 0 | ||||||||||||||||||
| Net investment income | 118,000,000 | 203,955,000 | 318,179,000 | ||||||||||||||||||
| Net foreign exchange losses | (6,911,000) | (17,126,000) | (13,623,000) | ||||||||||||||||||
| Equity in earnings (losses) of other ventures | (36,533,000) | (11,814,000) | 10,976,000 | ||||||||||||||||||
| Other (loss) income | (685,000) | 41,120,000 | 1,798,000 | ||||||||||||||||||
| Net realized and unrealized gains on investments | 70,668,000 | 144,444,000 | 93,679,000 | ||||||||||||||||||
| Net other-than-temporary impairments | (552,000) | (829,000) | (22,450,000) | ||||||||||||||||||
| Corporate expenses | (18,264,000) | (20,136,000) | (12,658,000) | ||||||||||||||||||
| Interest expense | (23,368,000) | (21,829,000) | (15,111,000) | ||||||||||||||||||
| Income tax benefit (expense) | 315,000 | 6,124,000 | (10,031,000) | ||||||||||||||||||
| Net (loss) income from discontinued operations | (15,890,000) | 62,670,000 | 6,700,000 | ||||||||||||||||||
| Net loss attributable to noncontrolling interests | 33,157,000 | (116,421,000) | (171,501,000) | ||||||||||||||||||
| Dividends on preference shares | (35,000,000) | (42,118,000) | (42,300,000) | ||||||||||||||||||
| Net claims and claim expenses incurred | 0 | 0 | 0 | ||||||||||||||||||
|
Intersegment Elimination, Insurance Segment To Reinsurance Segment [Member]
|
|||||||||||||||||||||
| Gross premiums ceded from segment to segment | 9,500,000 | 12,700,000 | |||||||||||||||||||
|
Intersegment Elimination, Insurance Segment to Lloyd's Segment [Member]
|
|||||||||||||||||||||
| Gross premiums ceded from segment to segment | 17,400,000 | ||||||||||||||||||||
|
Intersegment Elimination, Reinsurance Segment To Lloyds Segment Member
|
|||||||||||||||||||||
| Gross premiums ceded from segment to segment | $ (100,000) | $ 200,000 | |||||||||||||||||||
|
|||||||||||||||||||||
| X | ||||||||||
|
- Definition
The combined ratio is the sum of the net claims and claim expense ratio - calendar year, and the underwriting expense ratio. No definition available.
|
| X | ||||||||||
|
- Definition
Total consideration paid and payable by direct and assumed policyholders for insurance and reinsurance contracts sold by the entity during the period. This amount includes premium assumed from other insurers. No definition available.
|
| X | ||||||||||
|
- Definition
Net claims and claim expense ratio - calendar year is derived by dividing net claims and claim expenses - total by net premiums earned. No definition available.
|
| X | ||||||||||
|
- Definition
Net claims and claim expense ratio - prior accident years is derived by dividing net claims and claim expenses - prior accident years by net premiums earned. No definition available.
|
| X | ||||||||||
|
- Definition
Net claims and claim expense ratio - current accident year is derived by dividing net claims and claim expense - current accident year by net premiums earned. No definition available.
|
| X | ||||||||||
|
- Definition
The underwriting expense ratio is derived by dividing underwriting expenses by net premiums earned. No definition available.
|
| X | ||||||||||
|
- Definition
Net premiums earned less net claims and claim expenses incurred, acquisition expenses and operational expenses directly related to underwriting activities. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of deferred policy acquisition costs charged to expense in the period, generally in proportion to related revenue earned, estimated gross profits, or over the customer relationship or some other period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for preferred shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate foreign currency transaction gain (loss) (both realized and unrealized) included in determining net income for the reporting period. Excludes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. For certain enterprises, primarily banks, that are dealers in foreign exchange, foreign currency transaction gains (losses) may be disclosed as dealer gains (losses). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items before deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total provision in the period for claims incurred and costs incurred in the claim settlement process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of provision in the period for claims incurred in the reporting period and related claims settlement costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of provision in the period for claims incurred in prior reporting periods and related claims settlement costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of net Income or Loss attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The income earned from investments in securities and property, equipment and other capital assets. It includes rent from property and equipment, dividends from shares in corporations, and interest from bonds, loans, mortgages, derivatives, commercial paper, bank accounts, certificates of deposits, treasuries, and other financial securities. It does not include realized gains and losses on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment losses on investments in debt and equity securities categorized as Available-for-sale which have been recognized in earnings during the period. Such impairment losses consist of other than temporary impairments (OTTI) on equity securities, credit losses on investments in debt securities, and when the entity intends to sell an impaired debt security or it is more likely than not that the entity will be required to sell the impaired debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Premiums earned on the income statement for all insurance and reinsurance contracts after subtracting any amounts ceded to another insurer and adding premiums assumed from other insurers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Premiums written for all insurance and reinsurance contracts, after adding premiums assumed from other insurers and subtracting any amounts ceded to another insurer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of revenue from transactions with other operating segments of the same entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Segment Reporting (Schedule Of Gross Premiums Written Allocated To The Territory Of Coverage Exposure) (Details) (USD $)
|
3 Months Ended | 12 Months Ended | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | $ 42,970,000 | $ 139,938,000 | $ 641,563,000 | $ 610,505,000 | $ 31,201,000 | $ 111,543,000 | $ 506,540,000 | $ 516,011,000 | $ 1,434,976,000 | $ 1,165,295,000 | $ 1,228,881,000 | |||||||||
|
Reinsurance [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 1,323,187,000 | 1,123,619,000 | 1,210,795,000 | |||||||||||||||||
|
Reinsurance [Member] | Intersegment Elimination, Post-Eliminations [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 1,323,187,000 | 1,123,619,000 | 1,210,795,000 | |||||||||||||||||
|
Reinsurance [Member] | Catastrophe [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 1,177,296,000 | 994,233,000 | 1,096,449,000 | |||||||||||||||||
|
Reinsurance [Member] | Specialty [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 145,891,000 | 129,386,000 | 114,346,000 | |||||||||||||||||
|
Reinsurance [Member] | U.S. and Caribbean [Member] | Catastrophe [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 786,721,000 | 720,250,000 | 828,490,000 | |||||||||||||||||
|
Reinsurance [Member] | U.S. and Caribbean [Member] | Specialty [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 49,832,000 | 57,461,000 | 39,712,000 | |||||||||||||||||
|
Reinsurance [Member] | Worldwide (excluding U.S.) [Member] | Catastrophe [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 164,112,000 | [1] | 113,270,000 | [1] | 78,222,000 | [1] | ||||||||||||||
|
Reinsurance [Member] | Worldwide [Member] | Catastrophe [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 124,797,000 | 65,500,000 | 92,586,000 | |||||||||||||||||
|
Reinsurance [Member] | Worldwide [Member] | Specialty [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 91,032,000 | 59,636,000 | 68,704,000 | |||||||||||||||||
|
Reinsurance [Member] | Japan [Member] | Catastrophe [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 49,021,000 | 26,188,000 | 29,436,000 | |||||||||||||||||
|
Reinsurance [Member] | Europe [Member] | Catastrophe [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 31,888,000 | 59,480,000 | 60,363,000 | |||||||||||||||||
|
Reinsurance [Member] | Europe [Member] | Specialty [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 3,595,000 | 2,786,000 | 5,037,000 | |||||||||||||||||
|
Reinsurance [Member] | Australia and New Zealand [Member] | Catastrophe [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 16,818,000 | 6,269,000 | 5,293,000 | |||||||||||||||||
|
Reinsurance [Member] | Australia and New Zealand [Member] | Specialty [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 792,000 | 8,934,000 | 51,000 | |||||||||||||||||
|
Reinsurance [Member] | Other [Member] | Catastrophe [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 3,939,000 | 3,276,000 | 2,059,000 | |||||||||||||||||
|
Reinsurance [Member] | Other [Member] | Specialty [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 640,000 | 569,000 | 842,000 | |||||||||||||||||
|
Lloyd's [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 111,584,000 | 66,209,000 | ||||||||||||||||||
|
Lloyd's [Member] | Intersegment Elimination, Post-Eliminations [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 111,584,000 | 66,209,000 | 0 | |||||||||||||||||
|
Lloyd's [Member] | U.S. and Caribbean [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 48,435,000 | 43,178,000 | 0 | |||||||||||||||||
|
Lloyd's [Member] | Worldwide (excluding U.S.) [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 238,000 | [1] | 1,049,000 | [1] | 0 | [1] | ||||||||||||||
|
Lloyd's [Member] | Worldwide [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 47,605,000 | 16,207,000 | 0 | |||||||||||||||||
|
Lloyd's [Member] | Europe [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 8,044,000 | 3,174,000 | 0 | |||||||||||||||||
|
Lloyd's [Member] | Australia and New Zealand [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 2,060,000 | 91,000 | 0 | |||||||||||||||||
|
Lloyd's [Member] | Other [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 5,202,000 | 2,510,000 | 0 | |||||||||||||||||
|
Insurance [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 282,000 | 2,585,000 | 30,736,000 | |||||||||||||||||
|
Insurance [Member] | Intersegment Elimination, Post-Eliminations [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | 282,000 | [2] | 2,585,000 | [2] | 30,736,000 | [2] | ||||||||||||||
|
Eliminations [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums written | (77,000) | [3] | (27,118,000) | [3] | (12,650,000) | [3] | ||||||||||||||
|
Intersegment Elimination, Reinsurance Segment To Lloyds Segment Member
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums ceded from segment to segment | (100,000) | 200,000 | ||||||||||||||||||
|
Intersegment Elimination, Insurance Segment To Reinsurance Segment [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums ceded from segment to segment | 9,500,000 | 12,700,000 | ||||||||||||||||||
|
Intersegment Elimination, Insurance Segment to Lloyd's Segment [Member]
|
||||||||||||||||||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||||||||||
| Gross premiums ceded from segment to segment | $ 17,400,000 | |||||||||||||||||||
|
||||||||||||||||||||
| X | ||||||||||
|
- Definition
Total consideration paid and payable by direct and assumed policyholders for insurance and reinsurance contracts sold by the entity during the period. This amount includes premium assumed from other insurers. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of revenue from transactions with other operating segments of the same entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stock Incentive Compensation and Employee Benefit Plans (Narrative) (Details) (USD $)
In Millions, except Share data, unless otherwise specified |
12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2011
Premium Option Plan [Member]
|
Aug. 31, 2004
Premium Option Plan [Member]
|
Dec. 31, 2011
Restricted Stock Unit Plan [Member]
years
|
Dec. 31, 2010
Restricted Stock Unit Plan [Member]
|
Dec. 31, 2011
Performance Shares [Member]
|
May 31, 2010
Performance Shares [Member]
|
Dec. 31, 2011
Performance Shares [Member]
Special Retention Award [Member]
|
Dec. 31, 2010
Performance Shares [Member]
Special Retention Award [Member]
|
Dec. 31, 2011
Employee Stock Option [Member]
years
|
Dec. 31, 2011
Employee Stock Option [Member]
2001 Stock Incentive Plans and Non-Employee Director [Member]
|
Dec. 31, 2011
Restricted Stock [Member]
years
|
Dec. 31, 2011
Restricted Stock [Member]
2001 Stock Incentive Plans and Non-Employee Director [Member]
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
| Shares authorized by plan | 6,000,000 | ||||||||||||||
| Stock incentive compensation, vesting period | 5 years | 4 years | 3 years | 4 years | 4 years | 4 years | |||||||||
| Stock incentive compensation, expiration | P10Y | ||||||||||||||
| Shares available for issuance | 3,100,000 | 0 | 900,000 | 750,000 | |||||||||||
| Mandatory premium pricing, minimum strike price as a percentage of fair value on date of grant | 150.00% | ||||||||||||||
| Percentage of Executives' annual equity awards subject to vesting conditions | 25.00% | ||||||||||||||
| Maximum vesting if performance goals are achieved | 250.00% | 175.00% | |||||||||||||
| Period for average closing share price to determine total shareholder return | 20 days | ||||||||||||||
| Percentage of special retention award tendered in shares | 100.00% | ||||||||||||||
| Aggregate fair value of all shares vested during the period | $ 36.5 | $ 32.5 | $ 21.5 | ||||||||||||
| Cash received from exployees exercising stock options | 0.1 | 1.1 | 5.0 | ||||||||||||
| Total stock compensation expense recognized | 33.1 | 33.8 | 35.6 | ||||||||||||
| Unrecognized compensation expense | 26.1 | 0.1 | 38.0 | ||||||||||||
| Unrecognized compensation expense, recognition period (in years) | 2.6 | 0.2 | 1.8 | ||||||||||||
| Contributions to defined contribution pension plans | $ 3.2 | $ 3.2 | $ 2.3 | ||||||||||||
| X | ||||||||||
|
- Definition
Comparative Period for Performance Award No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of Annual Equity Incentive Subject to Vesting Conditions No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of Special Retention Award Tendered in Shares No definition available.
|
| X | ||||||||||
|
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Shares, Vested in Period, Fair Value No definition available.
|
| X | ||||||||||
|
- Definition
Share-based Compensation by Share-based Payment Award, Options, Minimum Strike Price as a Percentage of Market Value on Grant Date No definition available.
|
| X | ||||||||||
|
- Definition
Vesting Maximum, as a Percentage of Target, if Performance Goals are Achieved No definition available.
|
| X | ||||||||||
|
- Definition
The amount of the cost recognized during the period for defined contribution plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the aggregate unrecognized cost of equity-based awards made to employees under equity-based compensation awards that have yet to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, using a decimal to express in number of years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total cash inflow associated with the amount received from holders to acquire the entity's shares under incentive and share awards, including stock option exercises. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The date when the equity-based award expires as specified in the award agreement, which may be presented in a variety of ways (for example, year, month and year, day, month and year, quarter of a year). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Description of the period of time over which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, which may be expressed in a variety of ways (for example, in years, month and year). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stock Incentive Compensation and Employee Benefit Plans (Schedule of Valuation Assumptions) (Details)
|
12 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|||||
| Weighted-average assumptions used under Black-Scholes option pricing model: | ||||||
| Expected volatility | 35.00% | 36.00% | ||||
| Risk-free interest rate, Minimum | 0.16% | [1] | 0.19% | [1] | ||
| Risk-free interest rate, Maximum | 2.11% | [1] | 2.47% | [1] | ||
| Expected forfeiture rate | 8.00% | |||||
|
||||||
| X | ||||||||||
|
- Definition
Share-based Compensation Arrangements by Share-based Payment Award, Fair Value Assumptions, Expected Forfeiture Rate No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum risk-free interest rate assumption that is used in valuing an option on its own shares. No definition available.
|
| X | ||||||||||
|
- Definition
The minimum risk-free interest rate assumption that is used in valuing an option on its own shares. No definition available.
|
|
Stock Incentive Compensation and Employee Benefit Plans (Schedule of Option Activity) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
years
|
Dec. 31, 2010
years
|
Dec. 31, 2009
years
|
Dec. 31, 2008
years
|
|||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
| Options granted, Weighted average exercise price | $ 0 | $ 0 | $ 0 | |||||||
|
2001 Stock Incentive Plans and Non-Employee Director [Member]
|
||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
| Balance, Beginning of Period | 2,841,335 | 3,572,979 | 4,006,733 | |||||||
| Weighted average exercise price, Beginning of Period | $ 47.28 | $ 46.42 | $ 44.79 | |||||||
| Weighted average remaining contractual life, Beginning of Period | 4.8 | 5.9 | 6.6 | |||||||
| Aggregate intrinsic value, Beginning of Period | $ 46,616 | $ 24,891 | $ 29,583 | |||||||
| Options outstanding, Range of exercise prices, Minimum | $ 37.51 | $ 33.85 | $ 12.40 | $ 11.92 | ||||||
| Options outstanding, Range of exercise prices, Maximum | $ 59.66 | $ 59.66 | $ 59.66 | $ 59.66 | ||||||
| Options granted | 0 | 0 | 0 | |||||||
| Options granted, Weighted average exercise price | $ 0.00 | $ 0.00 | $ 0.00 | |||||||
| Options granted, Fair value of options | $ 0.00 | $ 0.00 | $ 0.00 | |||||||
| Options forfeited | (40,010) | (35,942) | (7,616) | |||||||
| Options forfeited, Weighted average exercise price | $ 52.68 | $ 54.11 | $ 51.26 | |||||||
| Options expired | (4,404) | (42,029) | 0 | |||||||
| Options expired, Weighted average exercise price | $ 53.86 | $ 53.86 | $ 0.00 | |||||||
| Options exercised | (823,614) | (653,673) | (426,138) | |||||||
| Options exercised, Weighted average exercise price | $ 46.88 | $ 41.77 | $ 31.03 | |||||||
| Options exercised, Aggregate intrinsic value | 18,155 | 10,491 | 8,284 | |||||||
| Balance, End of Period | 1,973,307 | 2,841,335 | 3,572,979 | 4,006,733 | ||||||
| Total options exercisable | 1,862,111 | |||||||||
| Total options exercisable, Weighted average exercise price | $ 46.94 | |||||||||
| Total options exercisable, Weighted average remaining contractual life | 4.5 | |||||||||
| Total options exercisable, Aggregate intrinsic value | 51,071 | |||||||||
| Options exercisable, Range of exercise prices, Minimum | $ 37.75 | |||||||||
| Options exercisable, Range of exercise prices, Maximum | $ 59.66 | |||||||||
| Weighted average exercise price, End of Period | $ 47.33 | $ 47.28 | $ 46.42 | $ 44.79 | ||||||
| Weighted average remaining contractual life, End of Period | 4.6 | 4.8 | 5.9 | 6.6 | ||||||
| Aggregate intrinsic value, End of Period | 53,363 | 46,616 | 24,891 | 29,583 | ||||||
|
Premium Option Plan [Member]
|
||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
| Balance, Beginning of Period | 1,192,000 | [1] | 1,274,000 | [1] | 3,774,000 | [1] | ||||
| Weighted average exercise price, Beginning of Period | $ 73.94 | [1] | $ 73.96 | [1] | $ 82.34 | [1] | ||||
| Aggregate intrinsic value, Beginning of Period | 0 | [1] | 0 | [1] | 0 | [1] | ||||
| Options outstanding, Range of exercise prices, Minimum | $ 73.06 | [1] | $ 73.06 | [1] | $ 73.06 | [1] | $ 73.06 | [1] | ||
| Options outstanding, Range of exercise prices, Maximum | $ 74.24 | [1] | $ 74.24 | [1] | $ 74.24 | [1] | $ 98.98 | [1] | ||
| Options granted | 0 | 0 | 0 | |||||||
| Options granted, Weighted average exercise price | $ 0.00 | $ 0.00 | $ 0.00 | |||||||
| Options forfeited | 0 | (82,000) | (2,500,000) | |||||||
| Options forfeited, Weighted average exercise price | $ 0.00 | $ 74.24 | $ 86.61 | |||||||
| Options expired | 0 | 0 | 0 | |||||||
| Options expired, Weighted average exercise price | $ 0.00 | $ 0.00 | $ 0.00 | |||||||
| Options exercised | 0 | 0 | 0 | |||||||
| Options exercised, Weighted average exercise price | $ 0.00 | $ 0.00 | $ 0.00 | |||||||
| Balance, End of Period | 1,192,000 | [1] | 1,192,000 | [1] | 1,274,000 | [1] | 3,774,000 | [1] | ||
| Total options exercisable | 1,192,000 | [1] | ||||||||
| Total options exercisable, Weighted average exercise price | $ 73.94 | [1] | ||||||||
| Total options exercisable, Weighted average remaining contractual life | 2.2 | [1] | ||||||||
| Total options exercisable, Aggregate intrinsic value | 509 | [1] | ||||||||
| Options exercisable, Range of exercise prices, Minimum | $ 73.06 | [1] | ||||||||
| Options exercisable, Range of exercise prices, Maximum | $ 74.24 | [1] | ||||||||
| Weighted average exercise price, End of Period | $ 73.94 | [1] | $ 73.94 | [1] | $ 73.96 | [1] | $ 82.34 | [1] | ||
| Aggregate intrinsic value, End of Period | $ 509 | [1] | $ 0 | [1] | $ 0 | [1] | $ 0 | [1] | ||
|
||||||||||
| X | ||||||||||
|
- Definition
Share-based Compensation, Shares Exercisable, Exercise Price Range, Lower Range Limit No definition available.
|
| X | ||||||||||
|
- Definition
Share-based Compensation, Shares Exercisable, Exercise Price Range, Upper Range Limit No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices of vested portions of options outstanding and currently exercisable under the option plan as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average period between the balance sheet date and expiration for all vested portions of options outstanding and currently exercisable (or convertible) under the plan, which may be expressed in a decimal value for number of years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total accumulated difference between fair values of underlying shares on dates of exercise and exercise price on options which were exercised (or share units converted) into shares during the reporting period under the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average price at which option holders acquired shares when converting their stock options into shares under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The decrease in the number of shares that could be issued attributable to the lapse of rights to exercise previously issued stock options under the terms of the option agreements under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average price at which grantees could have acquired the underlying shares with respect to stock options of the plan that lapsed during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated during the reporting period due to noncompliance with plan terms during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross number of share options (or share units) granted during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on stock options awarded under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices pertaining to options outstanding under the plan as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average price as of the beginning of the year at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average period between the balance sheet date and expiration for all awards outstanding under the plan, which may be expressed in a decimal value for number of years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The floor of a customized range of exercise prices for purposes of disclosing shares potentially issuable under outstanding stock option awards on all stock option plans and other required information pertaining to awards in the customized range. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The ceiling of a customized range of exercise prices for purposes of disclosing shares potentially issuable under outstanding stock option awards on all stock option plans and other required information pertaining to awards in the customized range. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stock Incentive Compensation and Employee Benefit Plans (Equity Compensation Other than Options) (Details) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Nonvested at Beginning of Period | 1,047,234 | 1,393,409 | 937,600 |
| Nonvested, Weighted average grant-dated fair value, at Beginning of Period | $ 49.03 | $ 46.68 | $ 49.26 |
| Awards granted | 219,017 | 308,200 | 944,462 |
| Awards granted, Weighted average grant-dated fair value | $ 66.21 | $ 55.83 | $ 44.65 |
| Awards vested | (383,729) | (586,220) | (466,289) |
| Awards vested, Weighted average grant-dated fair value | $ 48.84 | $ 46.92 | $ 47.63 |
| Awards forfeited | (78,176) | (68,155) | (22,364) |
| Awards forfeited, Weighted average grant-dated fair value | $ 47.71 | $ 49.89 | $ 49.25 |
| Nonvested at End of Period | 804,346 | 1,047,234 | 1,393,409 |
| Nonvested, Weighted average grant-dated fair value, at End of Period | $ 53.91 | $ 49.03 | $ 46.68 |
|
Restricted Stock Units (RSUs) [Member]
|
|||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Nonvested at Beginning of Period | 371,788 | 0 | |
| Awards granted | 215,711 | 386,235 | |
| Awards vested | (98,676) | 0 | |
| Awards forfeited | (65,850) | (14,447) | |
| Nonvested at End of Period | 422,973 | 371,788 | |
|
Performance Shares [Member]
|
|||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Nonvested at Beginning of Period | 275,813 | 0 | |
| Nonvested, Weighted average grant-dated fair value, at Beginning of Period | $ 29.47 | $ 0.00 | |
| Awards granted | 89,037 | 275,813 | |
| Awards granted, Weighted average grant-dated fair value | $ 31.91 | $ 29.47 | |
| Awards vested | (63,562) | 0 | |
| Awards vested, Weighted average grant-dated fair value | $ 0.00 | $ 0.00 | |
| Awards forfeited | (11,421) | 0 | |
| Awards forfeited, Weighted average grant-dated fair value | $ 0.00 | $ 0.00 | |
| Nonvested at End of Period | 289,867 | 275,813 | |
| Nonvested, Weighted average grant-dated fair value, at End of Period | $ 30.06 | $ 29.47 | |
|
Employee Restricted Stock [Member]
|
|||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Nonvested at Beginning of Period | 1,004,426 | 1,348,794 | 899,291 |
| Nonvested, Weighted average grant-dated fair value, at Beginning of Period | $ 48.93 | $ 46.64 | $ 49.17 |
| Awards granted | 200,745 | 284,873 | 919,481 |
| Awards granted, Weighted average grant-dated fair value | $ 66.21 | $ 55.80 | $ 44.67 |
| Awards vested | (362,234) | (561,086) | (447,614) |
| Awards vested, Weighted average grant-dated fair value | $ 48.74 | $ 46.81 | $ 47.53 |
| Awards forfeited | (78,176) | (68,155) | (22,364) |
| Awards forfeited, Weighted average grant-dated fair value | $ 47.71 | $ 49.89 | $ 49.25 |
| Nonvested at End of Period | 764,761 | 1,004,426 | 1,348,794 |
| Nonvested, Weighted average grant-dated fair value, at End of Period | $ 53.68 | $ 48.93 | $ 46.64 |
|
Non-employee Director Restricted Stock [Member]
|
|||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Nonvested at Beginning of Period | 42,808 | 44,615 | 38,309 |
| Nonvested, Weighted average grant-dated fair value, at Beginning of Period | $ 51.38 | $ 47.81 | $ 51.33 |
| Awards granted | 18,272 | 23,327 | 24,981 |
| Awards granted, Weighted average grant-dated fair value | $ 66.21 | $ 56.15 | $ 44.03 |
| Awards vested | (21,495) | (25,134) | (18,675) |
| Awards vested, Weighted average grant-dated fair value | $ 50.66 | $ 49.46 | $ 49.98 |
| Awards forfeited | 0 | 0 | 0 |
| Awards forfeited, Weighted average grant-dated fair value | $ 0 | $ 0 | $ 0 |
| Nonvested at End of Period | 39,585 | 42,808 | 44,615 |
| Nonvested, Weighted average grant-dated fair value, at End of Period | $ 58.43 | $ 51.38 | $ 47.81 |
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect during the reporting period as a result of the occurrence of a terminating event specified in the contractual agreement of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Statutory Requirements (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Statutory Accounting Practices [Line Items] | ||
| Dividend rate, Maximum percentage of prior year statutory capital and surplus | 25.00% | |
| Assets Held-in-trust | $ 1,292.7 | |
|
Renaissance Reinsurance [Member]
|
||
| Statutory Accounting Practices [Line Items] | ||
| Aggregate cash dividends | 180.7 | 513.1 |
|
DaVinciRe [Member]
|
||
| Statutory Accounting Practices [Line Items] | ||
| Aggregate cash dividends | 6.8 | 3.1 |
|
Glencoe [Member]
|
||
| Statutory Accounting Practices [Line Items] | ||
| Aggregate cash dividends | 15.9 | 0 |
| Aggregate returned capital | 234.1 | 0 |
|
Syndicate 1458 [Member]
|
||
| Statutory Accounting Practices [Line Items] | ||
| Statutory capital and surplus | 156.4 | 99.9 |
| Minimum statutory capital and surplus required | 145.5 | 93.9 |
| Percent of FAL supported by letters of credit | 100.00% | |
|
Bermuda [Member]
|
||
| Statutory Accounting Practices [Line Items] | ||
| Statutory capital and surplus | 2,700.0 | 3,300.0 |
| Minimum statutory capital and surplus required | 552.9 | 483.3 |
| Target Capital Level as a percentage of Enhanced Capital Requirement | 120.00% | |
|
New York [Member] | Renaissance Reinsurance [Member] | Multi-Beneficiary Reinsurance Trust [Member]
|
||
| Statutory Accounting Practices [Line Items] | ||
| Assets Held-in-trust | 450.8 | |
|
New York [Member] | Renaissance Reinsurance [Member] | Multi-Beneficiary Reinsurance Trust [Member] | Minimum [Member]
|
||
| Statutory Accounting Practices [Line Items] | ||
| Assets Held-in-trust | 254.5 | |
|
New York [Member] | DaVinciRe [Member] | Multi-Beneficiary Reinsurance Trust [Member]
|
||
| Statutory Accounting Practices [Line Items] | ||
| Assets Held-in-trust | 101.9 | |
|
New York [Member] | DaVinciRe [Member] | Multi-Beneficiary Reinsurance Trust [Member] | Minimum [Member]
|
||
| Statutory Accounting Practices [Line Items] | ||
| Assets Held-in-trust | $ 53.9 | |
| X | ||||||||||
|
- Definition
Class 4 insurers are restricted as to the payment of dividends in the amount of 25% of the prior year’s statutory capital and surplus, unless at least two members of the Board of Directors attest that a dividend in excess of this amount would not cause the company to fail to meet its relevant margins. No definition available.
|
| X | ||||||||||
|
- Definition
Return of Capital, Declared No definition available.
|
| X | ||||||||||
|
- Definition
Statutory Accounting Practices, Statutory Capital and Surplus, Amount Supported by Letters of Credit No definition available.
|
| X | ||||||||||
|
- Definition
While not specifically referred to in the Insurance Act, the BMA has also established a TCL for each Class 4 insurer equal to 120% of its ECR. While a Class 4 insurer is not currently required to maintain its statutory capital and surplus at this level, the TCL serves as an early warning tool for the BMA and failure to maintain statutory capital at least equal to the TCL will likely result in increased BMA regulatory oversight. No definition available.
|
| X | ||||||||||
|
- Definition
The total amount of cash and securities held by third party trustees pursuant to terms of debt instruments or other agreements as of the date of each statement of financial position presented, which can be used by the trustee only to pay the noncurrent portion of specified obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of cash dividends declared by an entity during the period for all classes of stock (common, preferred, etc.). This element includes paid and unpaid dividends declared during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of statutory capital and surplus (stockholders' equity) as of the balance sheet date using prescribed or permitted statutory accounting practices (rather than GAAP, if different) of the state or country. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of statutory capital required to be maintained as of the balance sheet date under prescribed or permitted statutory accounting practices. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivative Instruments (Narrative) (Details) (USD $)
Share data in Millions, except Per Share data, unless otherwise specified |
0 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
|
Jan. 20, 2011
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Derivative [Line Items] | ||||
| Platinum Warrant, in dollars per share | $ 27.00 | |||
| Derivative Instruments, Gain (Loss) Recognized in Income, Net | $ (55,884,000) | $ 56,022,000 | $ 55,766,000 | |
|
Platinum [Member]
|
||||
| Derivative [Line Items] | ||||
| Platinum Warrant, Shares | 2.5 | |||
|
Interest Rate Contract [Member]
|
||||
| Derivative [Line Items] | ||||
| Notional amount of interest rate derivative purchase contracts | 3,200,000,000 | 2,200,000,000 | ||
| Notional amount of interest rate derivative sale contracts | 285,700,000 | 209,100,000 | ||
|
Foreign Currency Forward Contracts, Underwriting and Non-investment Operations [Member]
|
||||
| Derivative [Line Items] | ||||
| Notional amount of foreign currency derivative purchase contracts | 160,500,000 | 42,000,000 | ||
| Notional amount of foreign currency derivative sale contracts | 700,800,000 | 188,100,000 | ||
|
Foreign Currency Forward Contracts, Investment Operations [Member]
|
||||
| Derivative [Line Items] | ||||
| Notional amount of foreign currency derivative purchase contracts | 48,100,000 | 69,200,000 | ||
| Notional amount of foreign currency derivative sale contracts | 211,600,000 | 281,000,000 | ||
|
Foreign Currency Forward Contracts, Energy And Risk Operations [Member]
|
||||
| Derivative [Line Items] | ||||
| Notional amount of foreign currency derivative purchase contracts | 7,800,000 | 0 | ||
| Notional amount of foreign currency derivative sale contracts | 12,700,000 | 10,000,000 | ||
|
Credit Risk Contract [Member]
|
||||
| Derivative [Line Items] | ||||
| Notional amount of credit risk derivative purchase contracts | 15,000,000 | 15,000,000 | ||
| Notional amount of credit risk derivative sale contracts | 38,100,000 | 118,000,000 | ||
|
Platinum Warrant [Member]
|
||||
| Derivative [Line Items] | ||||
| Aggregate proceeds from sale of Platinum Warrant | 47,900,000 | |||
|
Platinum Warrant [Member] | Other (Loss) Income [Member]
|
||||
| Derivative [Line Items] | ||||
| Derivative Instruments, Gain (Loss) Recognized in Income, Net | $ 2,975,000 | $ 10,054,000 | $ 4,958,000 | |
| X | ||||||||||
|
- Definition
Exercise price of the warrants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Derivative Asset, Proceeds from Sale No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate notional amount of credit derivatives purchased to manage exposure to credit risk. Notional amount refers to the number of contracts multiplied by the contract size as specified in the credit derivative contract. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate notional amount of credit derivatives sold to manage exposure to credit risk. Notional amount refers to the number of contracts multiplied by the contract size as specified in the credit derivative contract. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate notional amount of interest rate futures contracts purchased to manage exposure to interest rate risk. Notional amount refers to the number of contracts multiplied by the contract size as specified in the interest rate futures contract. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate notional amount of interest rate futures contracts sold to manage exposure to interest rate risk. Notional amount refers to the number of contracts multiplied by the contract size as specified in the interest rate futures contract. No definition available.
|
| X | ||||||||||
|
- Definition
The specified number of securities that each class of warrants or rights outstanding give the holder the right but not the obligation to purchase from the issuer at a specific price, on or before a certain date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Aggregate notional amount of foreign currency derivatives to purchase a foreign currency. Notional amount refers to the number of currency units specified in the foreign currency derivative contract. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate notional amount of foreign currency derivatives to sell a foreign currency. Notional amount refers to the number of currency units specified in the foreign currency derivative contract. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivative Instruments (Consolidated Balance Sheets And Fair Value Of The Principal Derivative Instruments) (Details) (USD $)
|
Dec. 31, 2011
|
Dec. 31, 2010
|
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | $ 60,939,000 | $ 74,714,000 | ||||||||||
| Derivative Liabilities [Abstract] | ||||||||||||
| Derivative Liabilities, Net | 57,627,000 | 18,917,000 | ||||||||||
|
Other Assets [Member] | Interest Rate Futures [Member]
|
||||||||||||
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | 612,000 | 2,459,000 | ||||||||||
|
Other Assets [Member] | Foreign Currency Forward Contracts, Underwriting and Non-investment Operations [Member]
|
||||||||||||
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | 0 | [1] | 6,341,000 | [1] | ||||||||
|
Other Assets [Member] | Foreign Currency Forward Contracts, Investment Operations [Member]
|
||||||||||||
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | 7,219,000 | [2] | 0 | [2] | ||||||||
|
Other Assets [Member] | Foreign Currency Forward Contracts, Energy And Risk Operations [Member]
|
||||||||||||
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | 387,000 | [3] | 0 | [3] | ||||||||
|
Other Assets [Member] | Credit Default Swap [Member]
|
||||||||||||
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | 0 | 3,064,000 | ||||||||||
|
Other Assets [Member] | Energy And Weather Contracts [Member]
|
||||||||||||
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | 52,721,000 | [4] | 17,925,000 | [4] | ||||||||
| Energy and Weather Contracts [Abstract] | ||||||||||||
| Derivative asset, gross asset component | 104,600,000 | 21,700,000 | ||||||||||
| Derivative asset, gross liability component | 51,900,000 | 3,700,000 | ||||||||||
|
Other Assets [Member] | Platinum Warrant [Member]
|
||||||||||||
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | 0 | 44,925,000 | ||||||||||
|
Other Liabilities [Member] | Interest Rate Futures [Member]
|
||||||||||||
| Derivative Liabilities [Abstract] | ||||||||||||
| Derivative Liabilities, Net | 339,000 | 719,000 | ||||||||||
|
Other Liabilities [Member] | Foreign Currency Forward Contracts, Underwriting and Non-investment Operations [Member]
|
||||||||||||
| Derivative Liabilities [Abstract] | ||||||||||||
| Derivative Liabilities, Net | 11,754,000 | [1] | 0 | [1] | ||||||||
|
Other Liabilities [Member] | Foreign Currency Forward Contracts, Investment Operations [Member]
|
||||||||||||
| Derivative Liabilities [Abstract] | ||||||||||||
| Derivative Liabilities, Net | 1,606,000 | [2] | 3,141,000 | [2] | ||||||||
|
Other Liabilities [Member] | Foreign Currency Forward Contracts, Energy And Risk Operations [Member]
|
||||||||||||
| Derivative Liabilities [Abstract] | ||||||||||||
| Derivative Liabilities, Net | 0 | [3] | 44,000 | [3] | ||||||||
|
Other Liabilities [Member] | Credit Default Swap [Member]
|
||||||||||||
| Derivative Liabilities [Abstract] | ||||||||||||
| Derivative Liabilities, Net | 539,000 | 0 | ||||||||||
|
Other Liabilities [Member] | Energy And Weather Contracts [Member]
|
||||||||||||
| Derivative Liabilities [Abstract] | ||||||||||||
| Derivative Liabilities, Net | 43,389,000 | [4] | 15,013,000 | [4] | ||||||||
| Energy and Weather Contracts [Abstract] | ||||||||||||
| Derivative liability, gross asset component | 8,800,000 | 9,900,000 | ||||||||||
| Derivative liability, gross liability component | $ 52,200,000 | $ 24,900,000 | ||||||||||
|
||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair value of liability associated with derivative asset, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value as of the balance sheet date of the gross assets less the gross liabilities of a derivative asset or group of derivative assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair value of derivative asset, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of derivative liability, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair value of derivative asset, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value as of the balance sheet date of the gross assets less the gross liabilities of a derivative liability or group of derivative liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivative Instruments (Gain (Loss) Recognized In The Consolidated Statements Of Operations Related To Its Derivative Instruments) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
| Amount of gain (loss) recognized on derivatives | $ (55,884) | $ 56,022 | $ 55,766 | |||||||||
|
Investment Income, Net [Member] | Interest Rate Futures [Member]
|
||||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
| Amount of gain (loss) recognized on derivatives | (25,256) | (9,124) | 5,173 | |||||||||
|
Investment Income, Net [Member] | Credit Default Swap [Member]
|
||||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
| Amount of gain (loss) recognized on derivatives | (1,467) | 1,265 | 312 | |||||||||
|
Foreign Currency Loss [Member] | Foreign Currency Forward Contracts, Underwriting and Non-investment Operations [Member]
|
||||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
| Amount of gain (loss) recognized on derivatives | (5,443) | [1] | 4,242 | [1] | (86) | [1] | ||||||
|
Foreign Currency Loss [Member] | Foreign Currency Forward Contracts, Investment Operations [Member]
|
||||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
| Amount of gain (loss) recognized on derivatives | (4,335) | [2] | 20,111 | [2] | (6,400) | [2] | ||||||
|
Foreign Currency Loss [Member] | Foreign Currency Forward Contracts, Energy And Risk Operations [Member]
|
||||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
| Amount of gain (loss) recognized on derivatives | 620 | [3] | 498 | [3] | (485) | [3] | ||||||
|
Other Income (Loss) [Member] | Energy And Weather Contracts [Member]
|
||||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
| Amount of gain (loss) recognized on derivatives | (22,978) | 28,976 | 52,294 | |||||||||
|
Other Income (Loss) [Member] | Platinum Warrant [Member]
|
||||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
| Amount of gain (loss) recognized on derivatives | $ 2,975 | $ 10,054 | $ 4,958 | |||||||||
|
||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivative Instruments (Gross Derivative Contract Positions Outstanding Relating To Energy And Weather Derivatives Trading Activities) (Details)
|
Dec. 31, 2011
Btu
|
Dec. 31, 2010
Btu
|
||||
|---|---|---|---|---|---|---|
|
Energy [Member]
|
||||||
| Derivative [Line Items] | ||||||
| Derivative, Nonmonetary Notional Amount | 240,363,364 | [1] | 136,767,119 | [1] | ||
|
Temperature [Member]
|
||||||
| Derivative [Line Items] | ||||||
| Derivative, Notional Amount per Unit | 14,917,438 | [1] | 5,419,846 | [1] | ||
|
Agriculture [Member]
|
||||||
| Derivative [Line Items] | ||||||
| Derivative, Nonmonetary Notional Amount | 6,098,000 | [1] | 260,000 | [1] | ||
|
Precipitation [Member]
|
||||||
| Derivative [Line Items] | ||||||
| Derivative, Notional Amount per Unit | 65,000 | [1] | 0 | [1] | ||
|
Wind [Member]
|
||||||
| Derivative [Line Items] | ||||||
| Derivative, Notional Amount per Unit | 712 | [1] | 0 | [1] | ||
|
||||||
| X | ||||||||||
|
- Definition
Aggregate notional amount of derivative expressed in nonmonetary units. For example, the number of barrels specified in a fuel oil forward purchase contract. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Derivative, Notional Amount per Unit No definition available.
|
| X | ||||||||||
|
- Details
|
|
Commitments and Contingencies (Narrative) (Details)
|
12 Months Ended | 12 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
USD ($)
|
Dec. 31, 2011
Energy And Weather Contracts [Member]
USD ($)
|
Dec. 31, 2011
Renaissance Trading [Member]
Energy And Weather Contracts [Member]
USD ($)
|
Dec. 31, 2011
Letter of Credit [Member]
USD ($)
|
Dec. 31, 2011
Letter of Credit [Member]
Top Layer Re [Member]
USD ($)
|
Dec. 31, 2011
Letter of Credit [Member]
Top Layer Re [Member]
Mandatory capital contribution
USD ($)
|
Dec. 31, 2011
Letter of Credit [Member]
Syndicate 1458 [Member]
Citibank Europe PLC [Member]
USD ($)
|
Dec. 31, 2011
Letter of Credit [Member]
Syndicate 1458 [Member]
Citibank Europe PLC [Member]
GBP (£)
|
Apr. 29, 2009
Letter of Credit [Member]
Syndicate 1458 [Member]
Citibank Europe PLC [Member]
USD ($)
|
Apr. 29, 2009
Letter of Credit [Member]
Syndicate 1458 [Member]
Citibank Europe PLC [Member]
GBP (£)
|
Dec. 31, 2011
U.S.-based Insurance Operations, Held-for-sale [Member]
Reserve Collar [Member]
USD ($)
|
Dec. 31, 2011
Potential Payables, Adverse Development on Net Claims and Claim Expenses, Prior Accident Years, Maximum [Member]
U.S.-based Insurance Operations, Held-for-sale [Member]
Reserve Collar [Member]
USD ($)
|
Dec. 31, 2011
Potential Receivables, Favorable Development on Net Claims and Claim Expenses, Prior Accident Years, Maximum [Member]
U.S.-based Insurance Operations, Held-for-sale [Member]
Reserve Collar [Member]
USD ($)
|
Dec. 31, 2011
Investments Other Than U.S. Government Securities, as a Percentage of Equity [Member]
Maximum [Member]
|
|
| Commitments and Contingencies [Line Items] | ||||||||||||||
| Concentration Risk, Percentage | 10.00% | |||||||||||||
| Disclosure of Repurchase Agreements [Abstract] | ||||||||||||||
| Payable or reimbursement to QBE | $ 10,000,000 | |||||||||||||
| Receivable or reimbursement from QBE | 10,000,000 | |||||||||||||
| Expense recognized related to the reserve liability | 10,000,000 | |||||||||||||
| Letters of Credit and Other Commitments [Abstract] | ||||||||||||||
| Letters of credit outstanding | 576,800,000 | |||||||||||||
| Collateral pledged to support letter of credit | 37,500,000 | |||||||||||||
| Mandatory capital contributions in the event of covenant violation | 50,000,000 | |||||||||||||
| Guarantees | 371,200,000 | |||||||||||||
| Contract commitments entered into | 7,100,000 | |||||||||||||
| Line of credit facility, Maximum borrowing capacity | 118,500,000 | 24,500,000 | 109,500,000 | 25,000,000 | ||||||||||
| Percentage of aggregate outstanding letters of credit secured | 75.00% | |||||||||||||
| Percentage of aggregate outstanding letters of credit subject to debt covenants | 25.00% | |||||||||||||
| Private Equity and Investment Commitments [Abstract] | ||||||||||||||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Initial Commitments | 684,000,000 | |||||||||||||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Commitments Fulfilled | 540,600,000 | |||||||||||||
| Unfunded Commitments | $ 144,553,000 | |||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Commitments Fulfilled No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Initial Commitments No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Percentage of Aggregate Outstanding Letter of Credit Secured by Securities No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of Aggregate Outstanding Letter of Credit Unsecured and Subject to Covenants No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of unfunded commitments for which the entity is obligated, to those certain investments for which net asset value per share is calculated (including by unit, membership interest, or other equity (ownership interest) unit measure) (alternative investments). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount or range of possible amounts of gain that could be realized upon the resolution of a contingency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current carrying amount of the liability for the freestanding or embedded guarantor's obligations under the guarantee or each group of similar guarantees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. No definition available.
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reflects the estimated amount of loss from the specified contingency as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of loss pertaining to the specified contingency that was charged against earnings in the period, including the effects of revisions in previously reported estimates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated maximum amount of possible loss from the contingency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount, as of the date of the latest financial statement presented, of all assets that are pledged as collateral for the payment of the related debt obligation primarily arising from secured borrowings, repurchase agreements or other current or potential obligations, where the secured party does not have the right by contract or custom to sell or re-pledge the collateral and therefore are not reclassified and separately reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the fixed and determinable portion of an unrecorded unconditional purchase obligation as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Commitments and Contingencies (Future Minimum Payments, Operating Leases) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
|
|---|---|
| Future minimum lease payments under existing operating leases | |
| 2012 | $ 6,242 |
| 2013 | 4,752 |
| 2014 | 3,608 |
| 2015 | 3,215 |
| 2016 | 2,424 |
| After 2016 | 69 |
| Future minimum operating lease payments | $ 20,310 |
| X | ||||||||||
|
- Definition
The total of future contractually required payments on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within one year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the fifth year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the fourth year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the third year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the second year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due after the fifth year from the balance sheet date on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Commitments and Contingencies Commitments and Contingencies (Capital Leases) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2011
|
|
| Commitments and Contingencies Disclosure [Abstract] | |
| Capital lease, initial term | 20 years |
| Capital lease, term of bargain renewal option | 30 years |
| Future minimum lease payments under capital leases | |
| 2012 | $ 2,892 |
| 2013 | 2,892 |
| 2014 | 2,892 |
| 2015 | 2,735 |
| 2016 | 2,417 |
| After 2016 | 31,043 |
| Future minimum capital lease payments | $ 44,871 |
| X | ||||||||||
|
- Definition
Capital Lease, Term No definition available.
|
| X | ||||||||||
|
- Definition
Capital Lease, Term, Renewal Option No definition available.
|
| X | ||||||||||
|
- Definition
The total of contractually required rental payments on leases meeting the criteria for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Contractually required rental payments on leases meeting the criteria for capitalization, due within one year of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractually required rental payments on leases meeting the criteria for capitalization, due within the fifth year from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractually required rental payments on leases meeting the criteria for capitalization, due within the fourth year from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractually required rental payments on leases meeting the criteria for capitalization, due within the third year from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractually required rental payments on leases meeting the criteria for capitalization, due within the second year from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractually required rental payments due on leases meeting the criteria for capitalization, after the fifth year from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Quarterly Financial Results (Unaudited) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Mar. 31, 2009
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Revenues | ||||||||||||
| Gross premiums written | $ 42,970 | $ 139,938 | $ 641,563 | $ 610,505 | $ 31,201 | $ 111,543 | $ 506,540 | $ 516,011 | $ 1,434,976 | $ 1,165,295 | $ 1,228,881 | |
| Net premiums written | 29,193 | 103,010 | 427,995 | 452,575 | 30,165 | 82,307 | 329,334 | 407,159 | 1,012,773 | 848,965 | 838,333 | |
| (Increase) decrease in unearned premiums | 169,916 | 126,214 | (210,820) | (147,034) | 159,577 | 130,048 | (117,163) | (156,506) | (61,724) | 15,956 | 43,871 | |
| Net premiums earned | 199,109 | 229,224 | 217,175 | 305,541 | 189,742 | 212,355 | 212,171 | 250,653 | 951,049 | 864,921 | 882,204 | |
| Net investment income (Note 5) | 52,331 | (27,940) | 33,328 | 60,281 | 52,503 | 59,570 | 26,173 | 65,709 | 118,000 | 203,955 | 318,179 | |
| Net foreign exchange gains (losses) | (400) | (2,650) | (4,521) | 660 | (4,646) | (529) | (609) | (11,342) | (6,911) | (17,126) | (13,623) | |
| Equity in earnings (losses) of other ventures | (22,702) | 4,794 | 5,128 | (23,753) | (10,390) | (6,740) | 3,160 | 2,156 | (36,533) | (11,814) | 10,976 | |
| Other (loss) income | (43,648) | (2,015) | (5,167) | 50,145 | 26,032 | 25,021 | (3,742) | (6,191) | (685) | 41,120 | 1,798 | |
| Net realized and unrealized gains on investments | 23,920 | 16,983 | 34,979 | (5,214) | (66,149) | 92,342 | 70,051 | 48,200 | 70,668 | 144,444 | 93,679 | |
| Total other-than-temporary impairments | (132) | (498) | 0 | 0 | 0 | 0 | (798) | (33) | (630) | (831) | (26,968) | |
| Portion recognized in other comprehensive income, before taxes | 29 | 49 | 0 | 0 | 0 | 0 | 2 | 0 | ||||
| Net other-than-temporary impairments | (103) | (449) | 0 | 0 | 0 | 0 | (796) | (33) | (19,000) | (552) | (829) | (22,450) |
| Total revenues | 208,507 | 217,947 | 280,922 | 387,660 | 187,092 | 382,019 | 306,408 | 349,152 | 1,095,036 | 1,224,671 | 1,270,763 | |
| Expenses | ||||||||||||
| Net claims and claim expenses incurred | 3,551 | 77,830 | 151,261 | 628,537 | (27,128) | 77,936 | (18,803) | 97,340 | 861,179 | 129,345 | (70,698) | |
| Acquisition costs | 25,101 | 26,057 | 13,883 | 32,335 | 18,803 | 26,143 | 23,580 | 26,435 | 97,376 | 94,961 | 104,150 | |
| Operational expenses | 43,368 | 42,169 | 42,299 | 41,830 | 45,882 | 36,970 | 38,040 | 45,150 | 169,666 | 166,042 | 153,552 | |
| Corporate expenses | 8,607 | 3,582 | 4,011 | 2,064 | 4,744 | 5,590 | 4,493 | 5,309 | 18,264 | 20,136 | 12,658 | |
| Interest expense | 5,721 | 5,722 | 5,730 | 6,195 | 6,303 | 6,164 | 6,206 | 3,156 | 23,368 | 21,829 | 15,111 | |
| Total expenses | 86,348 | 155,360 | 217,184 | 710,961 | 48,604 | 152,803 | 53,516 | 177,390 | 1,169,853 | 432,313 | 214,773 | |
| (Loss) income from continuing operations before taxes | 122,159 | 62,587 | 63,738 | (323,301) | 138,488 | 229,216 | 252,892 | 171,762 | (74,817) | 792,358 | 1,055,990 | |
| Income tax benefit (expense) | (2,945) | 1,435 | 1,773 | 52 | (196) | 2,399 | 958 | 2,963 | 315 | 6,124 | (10,031) | |
| (Loss) income from continuing operations | 119,214 | 64,022 | 65,511 | (323,249) | 138,292 | 231,615 | 253,850 | 174,725 | (74,502) | 798,482 | 1,045,959 | |
| Net (loss) income from discontinued operations | (3,305) | (965) | (10,094) | (1,526) | 11,108 | 21,234 | 18,881 | 11,447 | (15,890) | 62,670 | 6,700 | |
| Net (loss) income | 115,909 | 63,057 | 55,417 | (324,775) | 149,400 | 252,849 | 272,731 | 186,172 | (90,392) | 861,152 | 1,052,659 | |
| Net loss (income) attributable to noncontrolling interests | (25,388) | (5,044) | (21,903) | 85,492 | (16,432) | (37,524) | (51,915) | (10,550) | 33,157 | (116,421) | (171,501) | |
| Net (loss) income attributable to RenaissanceRe | 90,521 | 58,013 | 33,514 | (239,283) | 132,968 | 215,325 | 220,816 | 175,622 | (57,235) | 744,731 | 881,158 | |
| Dividends on preference shares | (8,750) | (8,750) | (8,750) | (8,750) | (10,393) | (10,575) | (10,575) | (10,575) | (35,000) | (42,118) | (42,300) | |
| Net income (loss) available (attributable) to RenaissanceRe common shareholders | $ 81,771 | $ 49,263 | $ 24,764 | $ (248,033) | $ 122,575 | $ 204,750 | $ 210,241 | $ 165,047 | $ (92,235) | $ 702,613 | $ 838,858 | |
| (Loss) income from continuing operations (attributable) available to RenaissanceRe common shareholders per common share - basic | $ 1.66 | $ 0.98 | $ 0.68 | $ (4.66) | $ 2.04 | $ 3.33 | $ 3.35 | $ 2.55 | $ (1.53) | $ 11.28 | $ 13.39 | |
| (Loss) income from discontinued operations (attributable) available to RenaissanceRe common shareholders per common share - basic | $ (0.07) | $ (0.02) | $ (0.20) | $ (0.03) | $ 0.21 | $ 0.40 | $ 0.34 | $ 0.20 | $ (0.31) | $ 1.14 | $ 0.11 | |
| Net (loss) income (attributable) available to RenaissanceRe common shareholders per common share - basic | $ 1.59 | $ 0.96 | $ 0.48 | $ (4.69) | $ 2.25 | $ 3.73 | $ 3.69 | $ 2.75 | $ (1.84) | $ 12.42 | $ 13.50 | |
| (Loss) income from continuing operations (attributable) available to RenaissanceRe common shareholders per common share - diluted | $ 1.64 | $ 0.97 | $ 0.68 | $ (4.66) | $ 2.02 | $ 3.31 | $ 3.32 | $ 2.54 | $ (1.53) | $ 11.18 | $ 13.29 | |
| (Loss) income from discontinued operations (attributable) available to RenaissanceRe common shareholders per common share - diluted | $ (0.06) | $ (0.02) | $ (0.20) | $ (0.03) | $ 0.21 | $ 0.39 | $ 0.34 | $ 0.19 | $ (0.31) | $ 1.13 | $ 0.11 | |
| Net (loss) income (attributable) available to RenaissanceRe common shareholders per common share - diluted | $ 1.58 | $ 0.95 | $ 0.48 | $ (4.69) | $ 2.23 | $ 3.70 | $ 3.66 | $ 2.73 | $ (1.84) | $ 12.31 | $ 13.40 | |
| Average shares outstanding - basic | 50,501 | 50,501 | 50,493 | 51,504 | 53,166 | 53,467 | 55,538 | 58,407 | 50,747 | 55,145 | 60,775 | |
| Average shares outstanding - diluted | 50,860 | 50,973 | 51,050 | 51,504 | 53,667 | 53,965 | 56,044 | 58,887 | 50,747 | 55,641 | 61,210 | |
| Net claims and claim expense ratio | 1.80% | 34.00% | 69.60% | 205.70% | (14.30%) | 36.70% | (8.90%) | 38.80% | ||||
| Underwriting expense ratio | 34.40% | 29.70% | 25.90% | 24.30% | 34.10% | 29.70% | 29.10% | 28.60% | 28.00% | 30.10% | 29.20% | |
| Combined ratio | 36.20% | 63.70% | 95.50% | 230.00% | 19.80% | 66.40% | 20.20% | 67.40% | 118.60% | 45.10% | 21.20% | |
| X | ||||||||||
|
- Definition
Change during the period in the unearned portion of gross premiums written (direct and assumed) and ceded premiums written. No definition available.
|
| X | ||||||||||
|
- Definition
The combined ratio is the sum of the net claims and claim expense ratio - calendar year, and the underwriting expense ratio. No definition available.
|
| X | ||||||||||
|
- Definition
Total consideration paid and payable by direct and assumed policyholders for insurance and reinsurance contracts sold by the entity during the period. This amount includes premium assumed from other insurers. No definition available.
|
| X | ||||||||||
|
- Definition
Net Claims and Claim Expense Ratio No definition available.
|
| X | ||||||||||
|
- Definition
The underwriting expense ratio is derived by dividing underwriting expenses by net premiums earned. No definition available.
|
| X | ||||||||||
|
- Definition
The total amount of expense recognized during the period for future policy benefits, claims and claims adjustment costs, and for selling, general and administrative costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of deferred policy acquisition costs charged to expense in the period, generally in proportion to related revenue earned, estimated gross profits, or over the customer relationship or some other period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for preferred shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate foreign currency transaction gain (loss) (both realized and unrealized) included in determining net income for the reporting period. Excludes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. For certain enterprises, primarily banks, that are dealers in foreign exchange, foreign currency transaction gains (losses) may be disclosed as dealer gains (losses). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items before deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) derived from discontinued operations during the period, net of related tax effect, per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income or loss derived from discontinued operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total provision in the period for claims incurred and costs incurred in the claim settlement process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of net Income or Loss attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The income earned from investments in securities and property, equipment and other capital assets. It includes rent from property and equipment, dividends from shares in corporations, and interest from bonds, loans, mortgages, derivatives, commercial paper, bank accounts, certificates of deposits, treasuries, and other financial securities. It does not include realized gains and losses on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount by which the fair value of an investment in debt and equity securities categorized as Available-for-sale is less than the amortized cost basis or carrying amount of that investment at the balance sheet date and the decline in fair value is deemed to be other than temporary, before considering whether or not such amount is recognized in earnings or other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment (OTTI) loss on a debt security, categorized as either Available-for-sale or Held-to-maturity, related to factors other than credit losses when the entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis. This amount, which includes the portion attributable to the noncontrolling interest, if any, is deducted from the total impairment losses of investments (before taxes) presented on the income statement; this amount is also referred to as the amount incurred by the reporting entity or the consolidated entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment losses on investments in debt and equity securities categorized as Available-for-sale which have been recognized in earnings during the period. Such impairment losses consist of other than temporary impairments (OTTI) on equity securities, credit losses on investments in debt securities, and when the entity intends to sell an impaired debt security or it is more likely than not that the entity will be required to sell the impaired debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Premiums earned on the income statement for all insurance and reinsurance contracts after subtracting any amounts ceded to another insurer and adding premiums assumed from other insurers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Premiums written for all insurance and reinsurance contracts, after adding premiums assumed from other insurers and subtracting any amounts ceded to another insurer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2010
|
Mar. 17, 2010
|
|
| Debt Instrument [Line Items] | ||
| Senior notes issuance date | March 17, 2010 | |
|
RenRe North America Holdings Inc. [Member] | 5.75% Senior Notes Due March 15, 2020 [Member]
|
||
| Debt Instrument [Line Items] | ||
| 5.75% Senior notes issued | $ 250.0 | |
| Senior notes interest rate | 5.75% | |
| Senior notes maturity date | March 15, 2020 |
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Date when the debt instrument was issued, which may be presented in a variety of ways (year, month and year, day, month and year, quarter, etc.). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Description of the maturity date of the debt instrument including whether the debt matures serially and, if so, a brief description of the serial maturities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Condensed Consolidating Balance Sheet) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Total investments | $ 6,209,252 | $ 6,100,212 | ||||||||||
| Cash and cash equivalents | 216,984 | 277,738 | 203,112 | 185,127 | ||||||||
| Investments in subsidiaries | 0 | 0 | ||||||||||
| Due from subsidiaries and affiliates | 0 | 0 | ||||||||||
| Premiums receivable | 471,878 | 322,080 | ||||||||||
| Prepaid reinsurance premiums | 58,522 | 60,643 | ||||||||||
| Reinsurance recoverable | 404,029 | 101,711 | 84,099 | |||||||||
| Accrued investment income | 33,523 | 34,560 | ||||||||||
| Deferred acquisition costs | 43,721 | 35,648 | ||||||||||
| Other assets | 307,003 | 333,539 | ||||||||||
| Assets of discontinued operations held for sale | 0 | 872,147 | ||||||||||
| Total assets | 7,744,912 | 8,138,278 | ||||||||||
| Liabilities | ||||||||||||
| Reserve for claims and claim expenses | 1,992,354 | 1,257,843 | ||||||||||
| Unearned premiums | 347,655 | 286,183 | ||||||||||
| Debt (Note 9) | 353,620 | 549,155 | ||||||||||
| Amounts due to subsidiaries and affiliates | 0 | 0 | ||||||||||
| Reinsurance balances payable | 256,883 | 318,024 | ||||||||||
| Other liabilities | 514,633 | 431,693 | ||||||||||
| Liabilities of discontinued operations held for sale | 13,507 | 598,511 | ||||||||||
| Total liabilities | 3,478,652 | 3,441,409 | ||||||||||
| Redeemable noncontrolling interest - DaVinciRe | 657,727 | 757,655 | ||||||||||
| Shareholders' Equity | ||||||||||||
| Total shareholders' equity | 3,608,533 | 3,939,214 | 3,840,786 | |||||||||
| Total liabilities, noncontrolling interests and shareholders' equity | 7,744,912 | 8,138,278 | ||||||||||
|
RenaissanceRe Holdings Ltd. (Parent Guarantor) [Member]
|
||||||||||||
| Assets | ||||||||||||
| Total investments | 593,973 | 517,640 | ||||||||||
| Cash and cash equivalents | 10,606 | 3,414 | 15,206 | 5,122 | ||||||||
| Investments in subsidiaries | 2,776,997 | 3,533,266 | ||||||||||
| Due from subsidiaries and affiliates | 172,069 | 145,298 | ||||||||||
| Premiums receivable | 0 | 0 | ||||||||||
| Prepaid reinsurance premiums | 0 | 0 | ||||||||||
| Reinsurance recoverable | 0 | 0 | ||||||||||
| Accrued investment income | 4,106 | 3,720 | ||||||||||
| Deferred acquisition costs | 0 | 0 | ||||||||||
| Other assets | 206,171 | 139,654 | ||||||||||
| Assets of discontinued operations held for sale | 0 | |||||||||||
| Total assets | 3,763,922 | 4,342,992 | ||||||||||
| Liabilities | ||||||||||||
| Reserve for claims and claim expenses | 0 | 0 | ||||||||||
| Unearned premiums | 0 | 0 | ||||||||||
| Debt (Note 9) | 100,000 | 377,512 | ||||||||||
| Amounts due to subsidiaries and affiliates | 30,519 | 0 | ||||||||||
| Reinsurance balances payable | 0 | 0 | ||||||||||
| Other liabilities | 28,210 | 29,155 | ||||||||||
| Liabilities of discontinued operations held for sale | 0 | 0 | ||||||||||
| Total liabilities | 158,729 | 406,667 | ||||||||||
| Redeemable noncontrolling interest - DaVinciRe | 0 | 0 | ||||||||||
| Shareholders' Equity | ||||||||||||
| Total shareholders' equity | 3,605,193 | 3,936,325 | ||||||||||
| Total liabilities, noncontrolling interests and shareholders' equity | 3,763,922 | 4,342,992 | ||||||||||
|
RenRe North America Holdings Inc. (Subsidiary Issuer) [Member]
|
||||||||||||
| Assets | ||||||||||||
| Total investments | 104,869 | 12,560 | ||||||||||
| Cash and cash equivalents | 4,920 | 3,940 | 7,606 | 5,562 | ||||||||
| Investments in subsidiaries | 83,031 | 140,923 | ||||||||||
| Due from subsidiaries and affiliates | 846 | 0 | ||||||||||
| Premiums receivable | 0 | 0 | ||||||||||
| Prepaid reinsurance premiums | 0 | 0 | ||||||||||
| Reinsurance recoverable | 0 | 0 | ||||||||||
| Accrued investment income | 311 | 5 | ||||||||||
| Deferred acquisition costs | 0 | 0 | ||||||||||
| Other assets | 27,198 | 2,307 | ||||||||||
| Assets of discontinued operations held for sale | 872,147 | |||||||||||
| Total assets | 221,175 | 1,031,882 | ||||||||||
| Liabilities | ||||||||||||
| Reserve for claims and claim expenses | 0 | 0 | ||||||||||
| Unearned premiums | 0 | 0 | ||||||||||
| Debt (Note 9) | 249,247 | 374,196 | ||||||||||
| Amounts due to subsidiaries and affiliates | 6,081 | 843 | ||||||||||
| Reinsurance balances payable | 0 | 0 | ||||||||||
| Other liabilities | 3,755 | 22,623 | ||||||||||
| Liabilities of discontinued operations held for sale | 13,507 | 598,511 | ||||||||||
| Total liabilities | 272,590 | 996,173 | ||||||||||
| Redeemable noncontrolling interest - DaVinciRe | 0 | 0 | ||||||||||
| Shareholders' Equity | ||||||||||||
| Total shareholders' equity | (51,415) | 35,709 | ||||||||||
| Total liabilities, noncontrolling interests and shareholders' equity | 221,175 | 1,031,882 | ||||||||||
|
Other RenaissanceRe Holdings Ltd. Subsidiaries And Eliminations (Non-Guarantor Subsidiaries) [Member]
|
||||||||||||
| Assets | ||||||||||||
| Total investments | 5,510,410 | [1] | 5,570,012 | [1] | ||||||||
| Cash and cash equivalents | 201,458 | [1] | 270,384 | [1] | 180,300 | [1] | 174,443 | [1] | ||||
| Investments in subsidiaries | 0 | [1] | 0 | [1] | ||||||||
| Due from subsidiaries and affiliates | 0 | [1] | 0 | [1] | ||||||||
| Premiums receivable | 471,878 | [1] | 322,080 | [1] | ||||||||
| Prepaid reinsurance premiums | 58,522 | [1] | 60,643 | [1] | ||||||||
| Reinsurance recoverable | 404,029 | [1] | 101,711 | [1] | ||||||||
| Accrued investment income | 29,106 | [1] | 30,835 | [1] | ||||||||
| Deferred acquisition costs | 43,721 | [1] | 35,648 | [1] | ||||||||
| Other assets | 275,092 | [1] | 318,077 | [1] | ||||||||
| Assets of discontinued operations held for sale | 0 | [1] | ||||||||||
| Total assets | 6,994,216 | [1] | 6,709,390 | [1] | ||||||||
| Liabilities | ||||||||||||
| Reserve for claims and claim expenses | 1,992,354 | [1] | 1,257,843 | [1] | ||||||||
| Unearned premiums | 347,655 | [1] | 286,183 | [1] | ||||||||
| Debt (Note 9) | 4,373 | [1] | 200,000 | [1] | ||||||||
| Amounts due to subsidiaries and affiliates | 0 | [1] | 0 | [1] | ||||||||
| Reinsurance balances payable | 256,883 | [1] | 318,024 | [1] | ||||||||
| Other liabilities | 482,668 | [1] | 379,915 | [1] | ||||||||
| Liabilities of discontinued operations held for sale | 0 | [1] | 0 | [1] | ||||||||
| Total liabilities | 3,083,933 | [1] | 2,441,965 | [1] | ||||||||
| Redeemable noncontrolling interest - DaVinciRe | 657,727 | [1] | 757,655 | [1] | ||||||||
| Shareholders' Equity | ||||||||||||
| Total shareholders' equity | 3,252,556 | [1] | 3,509,770 | [1] | ||||||||
| Total liabilities, noncontrolling interests and shareholders' equity | 6,994,216 | [1] | 6,709,390 | [1] | ||||||||
|
Consolidating Adjustments [Member]
|
||||||||||||
| Assets | ||||||||||||
| Total investments | 0 | [2] | 0 | [2] | ||||||||
| Cash and cash equivalents | 0 | [2] | 0 | [2] | ||||||||
| Investments in subsidiaries | (2,860,028) | [2] | (3,674,189) | [2] | ||||||||
| Due from subsidiaries and affiliates | (172,915) | [2] | (145,298) | [2] | ||||||||
| Premiums receivable | 0 | [2] | 0 | [2] | ||||||||
| Prepaid reinsurance premiums | 0 | [2] | 0 | [2] | ||||||||
| Reinsurance recoverable | 0 | [2] | 0 | [2] | ||||||||
| Accrued investment income | 0 | [2] | 0 | [2] | ||||||||
| Deferred acquisition costs | 0 | [2] | 0 | [2] | ||||||||
| Other assets | (201,458) | [2] | (126,499) | [2] | ||||||||
| Assets of discontinued operations held for sale | 0 | [2] | ||||||||||
| Total assets | (3,234,401) | [2] | (3,945,986) | [2] | ||||||||
| Liabilities | ||||||||||||
| Reserve for claims and claim expenses | 0 | [2] | 0 | [2] | ||||||||
| Unearned premiums | 0 | [2] | 0 | [2] | ||||||||
| Debt (Note 9) | 0 | [2] | (402,553) | [2] | ||||||||
| Amounts due to subsidiaries and affiliates | (36,600) | [2] | (843) | [2] | ||||||||
| Reinsurance balances payable | 0 | [2] | 0 | [2] | ||||||||
| Other liabilities | 0 | [2] | 0 | [2] | ||||||||
| Liabilities of discontinued operations held for sale | 0 | [2] | 0 | [2] | ||||||||
| Total liabilities | (36,600) | [2] | (403,396) | [2] | ||||||||
| Redeemable noncontrolling interest - DaVinciRe | 0 | [2] | 0 | [2] | ||||||||
| Shareholders' Equity | ||||||||||||
| Total shareholders' equity | (3,197,801) | [2] | (3,542,590) | [2] | ||||||||
| Total liabilities, noncontrolling interests and shareholders' equity | $ (3,234,401) | [2] | $ (3,945,986) | [2] | ||||||||
|
||||||||||||
| X | ||||||||||
|
- Definition
Other Assets, including Goodwill and Other Intangible Assets and Receivables for Investment Sold No definition available.
|
| X | ||||||||||
|
- Definition
Other Liabilities and Payables for Investments Purchased No definition available.
|
| X | ||||||||||
|
- Definition
Interest, dividends, rents, ancillary and other revenues earned but not yet received by the entity on its investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate value (measured at the lower of net carrying value or fair value less cost of disposal) for assets of a disposal group, including a component of the entity (discontinued operation), to be sold or that has been disposed of through sale, as of the financial statement date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net amount of deferred policy acquisition costs capitalized on contracts remaining in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of payable due to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The obligations arising from the sale, disposal, or planned sale in the near future (generally within one year) of a disposal group, including a component of the entity (discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of all notes and loans payable (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount as of the balance sheet date due the entity from (a) agents and insureds, (b) uncollected premiums and (c) others, net of the allowance for doubtful accounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The unexpired portion of premiums ceded on policies in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount as of the balance sheet date of the known and estimated amounts owed to insurers under reinsurance treaties or other arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The known and estimated amount recoverable as of the balance sheet date from reinsurers for claims paid or incurred by the ceding insurer and associated claims settlement expenses, including estimated amounts for claims incurred but not reported, and policy benefits, net of any related valuation allowance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of premiums written on insurance contracts that have not been earned as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Condensed Consolidating Statement Of Operations) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Mar. 31, 2009
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
||||||||
| Revenues | |||||||||||||||||||
| Net premiums earned | $ 199,109 | $ 229,224 | $ 217,175 | $ 305,541 | $ 189,742 | $ 212,355 | $ 212,171 | $ 250,653 | $ 951,049 | $ 864,921 | $ 882,204 | ||||||||
| Net investment income | 52,331 | (27,940) | 33,328 | 60,281 | 52,503 | 59,570 | 26,173 | 65,709 | 118,000 | 203,955 | 318,179 | ||||||||
| Net foreign exchange gains (losses) | (400) | (2,650) | (4,521) | 660 | (4,646) | (529) | (609) | (11,342) | (6,911) | (17,126) | (13,623) | ||||||||
| Equity in earnings (losses) of other ventures | (22,702) | 4,794 | 5,128 | (23,753) | (10,390) | (6,740) | 3,160 | 2,156 | (36,533) | (11,814) | 10,976 | ||||||||
| Other loss | (43,648) | (2,015) | (5,167) | 50,145 | 26,032 | 25,021 | (3,742) | (6,191) | (685) | 41,120 | 1,798 | ||||||||
| Net realized and unrealized gains on investments | 23,920 | 16,983 | 34,979 | (5,214) | (66,149) | 92,342 | 70,051 | 48,200 | 70,668 | 144,444 | 93,679 | ||||||||
| Net other-than-temporary impairments | (103) | (449) | 0 | 0 | 0 | 0 | (796) | (33) | (19,000) | (552) | (829) | (22,450) | |||||||
| Total revenues | 208,507 | 217,947 | 280,922 | 387,660 | 187,092 | 382,019 | 306,408 | 349,152 | 1,095,036 | 1,224,671 | 1,270,763 | ||||||||
| Expenses | |||||||||||||||||||
| Net claims and claim expenses incurred | (3,551) | (77,830) | (151,261) | (628,537) | 27,128 | (77,936) | 18,803 | (97,340) | (861,179) | (129,345) | 70,698 | ||||||||
| Acquisition expenses | 25,101 | 26,057 | 13,883 | 32,335 | 18,803 | 26,143 | 23,580 | 26,435 | 97,376 | 94,961 | 104,150 | ||||||||
| Operational expenses | 43,368 | 42,169 | 42,299 | 41,830 | 45,882 | 36,970 | 38,040 | 45,150 | 169,666 | 166,042 | 153,552 | ||||||||
| Corporate expenses | 8,607 | 3,582 | 4,011 | 2,064 | 4,744 | 5,590 | 4,493 | 5,309 | 18,264 | 20,136 | 12,658 | ||||||||
| Interest expense | 5,721 | 5,722 | 5,730 | 6,195 | 6,303 | 6,164 | 6,206 | 3,156 | 23,368 | 21,829 | 15,111 | ||||||||
| Total expenses | 86,348 | 155,360 | 217,184 | 710,961 | 48,604 | 152,803 | 53,516 | 177,390 | 1,169,853 | 432,313 | 214,773 | ||||||||
| Income (loss) before equity in net (loss) income of subsidiaries and taxes | (74,817) | 792,358 | 1,055,990 | ||||||||||||||||
| Equity in net (losses) income of subsidiaries | 0 | 0 | 0 | ||||||||||||||||
| (Loss) income from continuing operations before taxes | 122,159 | 62,587 | 63,738 | (323,301) | 138,488 | 229,216 | 252,892 | 171,762 | (74,817) | 792,358 | 1,055,990 | ||||||||
| Income tax benefit (expense) | (2,945) | 1,435 | 1,773 | 52 | (196) | 2,399 | 958 | 2,963 | 315 | 6,124 | (10,031) | ||||||||
| Loss from continuing operations | 119,214 | 64,022 | 65,511 | (323,249) | 138,292 | 231,615 | 253,850 | 174,725 | (74,502) | 798,482 | 1,045,959 | ||||||||
| Income from discontinued operations | (3,305) | (965) | (10,094) | (1,526) | 11,108 | 21,234 | 18,881 | 11,447 | (15,890) | 62,670 | 6,700 | ||||||||
| Net loss | 115,909 | 63,057 | 55,417 | (324,775) | 149,400 | 252,849 | 272,731 | 186,172 | (90,392) | 861,152 | 1,052,659 | ||||||||
| Net loss attributable to noncontrolling interests | (25,388) | (5,044) | (21,903) | 85,492 | (16,432) | (37,524) | (51,915) | (10,550) | 33,157 | (116,421) | (171,501) | ||||||||
| Net (loss) income attributable to RenaissanceRe | 90,521 | 58,013 | 33,514 | (239,283) | 132,968 | 215,325 | 220,816 | 175,622 | (57,235) | 744,731 | 881,158 | ||||||||
| Dividends on preference shares | (8,750) | (8,750) | (8,750) | (8,750) | (10,393) | (10,575) | (10,575) | (10,575) | (35,000) | (42,118) | (42,300) | ||||||||
| Net (loss) income (attributable) available to RenaissanceRe common shareholders | 81,771 | 49,263 | 24,764 | (248,033) | 122,575 | 204,750 | 210,241 | 165,047 | (92,235) | 702,613 | 838,858 | ||||||||
|
RenaissanceRe Holdings Ltd. (Parent Guarantor) [Member]
|
|||||||||||||||||||
| Revenues | |||||||||||||||||||
| Net premiums earned | 0 | 0 | 0 | ||||||||||||||||
| Net investment income | 20,845 | 16,101 | 11,360 | ||||||||||||||||
| Net foreign exchange gains (losses) | 112 | (523) | (120) | ||||||||||||||||
| Equity in earnings (losses) of other ventures | 0 | 0 | 0 | ||||||||||||||||
| Other loss | (11) | 631 | 516 | ||||||||||||||||
| Net realized and unrealized gains on investments | 11,377 | 10,107 | 3,010 | ||||||||||||||||
| Net other-than-temporary impairments | 0 | 0 | (904) | ||||||||||||||||
| Total revenues | 32,323 | 26,316 | 13,862 | ||||||||||||||||
| Expenses | |||||||||||||||||||
| Net claims and claim expenses incurred | 0 | 0 | 0 | ||||||||||||||||
| Acquisition expenses | 0 | 0 | 0 | ||||||||||||||||
| Operational expenses | (4,842) | (3,819) | (6,962) | ||||||||||||||||
| Corporate expenses | 11,486 | 13,022 | 8,090 | ||||||||||||||||
| Interest expense | 10,472 | 15,464 | 9,306 | ||||||||||||||||
| Total expenses | 17,116 | 24,667 | 10,434 | ||||||||||||||||
| Income (loss) before equity in net (loss) income of subsidiaries and taxes | 15,207 | 1,649 | 3,428 | ||||||||||||||||
| Equity in net (losses) income of subsidiaries | (73,066) | 744,492 | 877,730 | ||||||||||||||||
| (Loss) income from continuing operations before taxes | (57,859) | 746,141 | 881,158 | ||||||||||||||||
| Income tax benefit (expense) | 624 | (1,410) | 0 | ||||||||||||||||
| Loss from continuing operations | (57,235) | 744,731 | 881,158 | ||||||||||||||||
| Income from discontinued operations | 0 | 0 | 0 | ||||||||||||||||
| Net loss | (57,235) | 744,731 | 881,158 | ||||||||||||||||
| Net loss attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||||||||||
| Net (loss) income attributable to RenaissanceRe | (57,235) | 744,731 | 881,158 | ||||||||||||||||
| Dividends on preference shares | (35,000) | (42,118) | (42,300) | ||||||||||||||||
| Net (loss) income (attributable) available to RenaissanceRe common shareholders | (92,235) | 702,613 | 838,858 | ||||||||||||||||
|
RenRe North America Holdings Inc. (Subsidiary Issuer) [Member]
|
|||||||||||||||||||
| Revenues | |||||||||||||||||||
| Net premiums earned | 0 | 0 | 0 | ||||||||||||||||
| Net investment income | 944 | 914 | 14 | ||||||||||||||||
| Net foreign exchange gains (losses) | 0 | 0 | 0 | ||||||||||||||||
| Equity in earnings (losses) of other ventures | 0 | 0 | 0 | ||||||||||||||||
| Other loss | 0 | 0 | 0 | ||||||||||||||||
| Net realized and unrealized gains on investments | 1,217 | (2,432) | 0 | ||||||||||||||||
| Net other-than-temporary impairments | 0 | 0 | 0 | ||||||||||||||||
| Total revenues | 2,161 | (1,518) | 14 | ||||||||||||||||
| Expenses | |||||||||||||||||||
| Net claims and claim expenses incurred | 0 | 0 | 0 | ||||||||||||||||
| Acquisition expenses | 0 | 0 | 0 | ||||||||||||||||
| Operational expenses | 7,910 | 5,014 | 233 | ||||||||||||||||
| Corporate expenses | 229 | 199 | 52 | ||||||||||||||||
| Interest expense | 14,568 | 14,518 | 9,073 | ||||||||||||||||
| Total expenses | 22,707 | 19,731 | 9,358 | ||||||||||||||||
| Income (loss) before equity in net (loss) income of subsidiaries and taxes | (20,546) | (21,249) | (9,344) | ||||||||||||||||
| Equity in net (losses) income of subsidiaries | (52,358) | (66,323) | 157 | ||||||||||||||||
| (Loss) income from continuing operations before taxes | (72,904) | (87,572) | (9,187) | ||||||||||||||||
| Income tax benefit (expense) | 1,677 | 20,733 | 3,634 | ||||||||||||||||
| Loss from continuing operations | (71,227) | (66,839) | (5,553) | ||||||||||||||||
| Income from discontinued operations | (15,890) | 62,670 | 6,700 | ||||||||||||||||
| Net loss | (87,117) | (4,169) | 1,147 | ||||||||||||||||
| Net loss attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||||||||||
| Net (loss) income attributable to RenaissanceRe | (87,117) | (4,169) | 1,147 | ||||||||||||||||
| Dividends on preference shares | 0 | 0 | 0 | ||||||||||||||||
| Net (loss) income (attributable) available to RenaissanceRe common shareholders | (87,117) | (4,169) | 1,147 | ||||||||||||||||
|
Other RenaissanceRe Holdings Ltd. Subsidiaries And Eliminations (Non-Guarantor Subsidiaries) [Member]
|
|||||||||||||||||||
| Revenues | |||||||||||||||||||
| Net premiums earned | 951,049 | [1] | 864,921 | [1] | 882,204 | [1] | |||||||||||||
| Net investment income | 102,023 | [1] | 186,981 | [1] | 306,805 | [1] | |||||||||||||
| Net foreign exchange gains (losses) | (7,023) | [1] | (16,603) | [1] | (13,503) | [1] | |||||||||||||
| Equity in earnings (losses) of other ventures | (36,533) | [1] | (11,814) | [1] | 10,976 | [1] | |||||||||||||
| Other loss | (674) | [1] | 40,489 | [1] | 1,282 | [1] | |||||||||||||
| Net realized and unrealized gains on investments | 58,074 | [1] | 136,769 | [1] | 90,669 | [1] | |||||||||||||
| Net other-than-temporary impairments | (552) | [1] | (829) | [1] | (21,546) | [1] | |||||||||||||
| Total revenues | 1,066,364 | [1] | 1,199,914 | [1] | 1,256,887 | [1] | |||||||||||||
| Expenses | |||||||||||||||||||
| Net claims and claim expenses incurred | (861,179) | [1] | (129,345) | [1] | 70,698 | [1] | |||||||||||||
| Acquisition expenses | 97,376 | [1] | 94,961 | [1] | 104,150 | [1] | |||||||||||||
| Operational expenses | 166,598 | [1] | 164,847 | [1] | 153,319 | [1] | |||||||||||||
| Corporate expenses | 6,549 | [1] | 6,915 | [1] | 4,516 | [1] | |||||||||||||
| Interest expense | 3,026 | [1] | 1,510 | [1] | (3,268) | [1] | |||||||||||||
| Total expenses | 1,134,728 | [1] | 397,578 | [1] | 188,019 | [1] | |||||||||||||
| Income (loss) before equity in net (loss) income of subsidiaries and taxes | (68,364) | [1] | 802,336 | [1] | 1,068,868 | [1] | |||||||||||||
| Equity in net (losses) income of subsidiaries | 0 | [1] | 0 | [1] | 0 | [1] | |||||||||||||
| (Loss) income from continuing operations before taxes | (68,364) | [1] | 802,336 | [1] | 1,068,868 | [1] | |||||||||||||
| Income tax benefit (expense) | (1,986) | [1] | (13,199) | [1] | (13,665) | [1] | |||||||||||||
| Loss from continuing operations | (70,350) | [1] | 789,137 | [1] | 1,055,203 | [1] | |||||||||||||
| Income from discontinued operations | 0 | [1] | 0 | [1] | 0 | [1] | |||||||||||||
| Net loss | (70,350) | [1] | 789,137 | [1] | 1,055,203 | [1] | |||||||||||||
| Net loss attributable to noncontrolling interests | 33,157 | [1] | (116,421) | [1] | (171,501) | [1] | |||||||||||||
| Net (loss) income attributable to RenaissanceRe | (37,193) | [1] | 672,716 | [1] | 883,702 | [1] | |||||||||||||
| Dividends on preference shares | 0 | [1] | 0 | [1] | 0 | [1] | |||||||||||||
| Net (loss) income (attributable) available to RenaissanceRe common shareholders | (37,193) | [1] | 672,716 | [1] | 883,702 | [1] | |||||||||||||
|
Consolidating Adjustments [Member]
|
|||||||||||||||||||
| Revenues | |||||||||||||||||||
| Net premiums earned | 0 | [2] | 0 | [2] | 0 | [2] | |||||||||||||
| Net investment income | (5,812) | [2] | (41) | [2] | 0 | [2] | |||||||||||||
| Net foreign exchange gains (losses) | 0 | [2] | 0 | [2] | 0 | [2] | |||||||||||||
| Equity in earnings (losses) of other ventures | 0 | [2] | 0 | [2] | 0 | [2] | |||||||||||||
| Other loss | 0 | [2] | 0 | [2] | 0 | [2] | |||||||||||||
| Net realized and unrealized gains on investments | 0 | [2] | 0 | [2] | 0 | [2] | |||||||||||||
| Net other-than-temporary impairments | 0 | [2] | 0 | [2] | 0 | [2] | |||||||||||||
| Total revenues | (5,812) | [2] | (41) | [2] | 0 | [2] | |||||||||||||
| Expenses | |||||||||||||||||||
| Net claims and claim expenses incurred | 0 | [2] | 0 | [2] | 0 | [2] | |||||||||||||
| Acquisition expenses | 0 | [2] | 0 | [2] | 0 | [2] | |||||||||||||
| Operational expenses | 0 | [2] | 0 | [2] | 6,962 | [2] | |||||||||||||
| Corporate expenses | 0 | [2] | 0 | [2] | 0 | [2] | |||||||||||||
| Interest expense | (4,698) | [2] | (9,663) | [2] | 0 | [2] | |||||||||||||
| Total expenses | (4,698) | [2] | (9,663) | [2] | 6,962 | [2] | |||||||||||||
| Income (loss) before equity in net (loss) income of subsidiaries and taxes | (1,114) | [2] | 9,622 | [2] | (6,962) | [2] | |||||||||||||
| Equity in net (losses) income of subsidiaries | 125,424 | [2] | (678,169) | [2] | (877,887) | [2] | |||||||||||||
| (Loss) income from continuing operations before taxes | 124,310 | [2] | (668,547) | [2] | (884,849) | [2] | |||||||||||||
| Income tax benefit (expense) | 0 | [2] | 0 | [2] | 0 | [2] | |||||||||||||
| Loss from continuing operations | 124,310 | [2] | (668,547) | [2] | (884,849) | [2] | |||||||||||||
| Income from discontinued operations | 0 | [2] | 0 | [2] | 0 | [2] | |||||||||||||
| Net loss | 124,310 | [2] | (668,547) | [2] | (884,849) | [2] | |||||||||||||
| Net loss attributable to noncontrolling interests | 0 | [2] | 0 | [2] | 0 | [2] | |||||||||||||
| Net (loss) income attributable to RenaissanceRe | 124,310 | [2] | (668,547) | [2] | (884,849) | [2] | |||||||||||||
| Dividends on preference shares | 0 | [2] | 0 | [2] | 0 | [2] | |||||||||||||
| Net (loss) income (attributable) available to RenaissanceRe common shareholders | $ 124,310 | [2] | $ (668,547) | [2] | $ (884,849) | [2] | |||||||||||||
|
|||||||||||||||||||
| X | ||||||||||
|
- Definition
This item represents the parent company's share of a subsidiary's net profit and loss for the period. No definition available.
|
| X | ||||||||||
|
- Definition
The total amount of expense recognized during the period for future policy benefits, claims and claims adjustment costs, and for selling, general and administrative costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of deferred policy acquisition costs charged to expense in the period, generally in proportion to related revenue earned, estimated gross profits, or over the customer relationship or some other period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for preferred shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate foreign currency transaction gain (loss) (both realized and unrealized) included in determining net income for the reporting period. Excludes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. For certain enterprises, primarily banks, that are dealers in foreign exchange, foreign currency transaction gains (losses) may be disclosed as dealer gains (losses). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items before deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total provision in the period for claims incurred and costs incurred in the claim settlement process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of net Income or Loss attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The income earned from investments in securities and property, equipment and other capital assets. It includes rent from property and equipment, dividends from shares in corporations, and interest from bonds, loans, mortgages, derivatives, commercial paper, bank accounts, certificates of deposits, treasuries, and other financial securities. It does not include realized gains and losses on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment losses on investments in debt and equity securities categorized as Available-for-sale which have been recognized in earnings during the period. Such impairment losses consist of other than temporary impairments (OTTI) on equity securities, credit losses on investments in debt securities, and when the entity intends to sell an impaired debt security or it is more likely than not that the entity will be required to sell the impaired debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Premiums earned on the income statement for all insurance and reinsurance contracts after subtracting any amounts ceded to another insurer and adding premiums assumed from other insurers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Condensed Consolidating Statement Of Cash Flows) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
||||||
| Cash flows provided by (used in) operating activities: | ||||||||
| Net cash (used in) provided by operating activities | $ 165,933 | $ 494,720 | $ 588,889 | |||||
| Cash flows provided by (used in) investing activities | ||||||||
| Proceeds from sales and maturities of fixed maturity investments available for sale | 106,362 | 3,751,669 | 10,036,434 | |||||
| Purchases of fixed maturity intestments available for sale | (4,107) | (403,660) | (10,516,908) | |||||
| Proceeds from sales and maturities of fixed maturity investments trading | 6,089,468 | 7,795,587 | 61,218 | |||||
| Purchases of fixed maturity investments trading | (6,271,623) | (11,122,823) | (845,466) | |||||
| Purchase of equity investments trading | (47,995) | 0 | 0 | |||||
| Net (purchases) sales of short term investments | 103,148 | (26,752) | 1,170,037 | |||||
| Net sales of other investments | 50,940 | 122,065 | 3,994 | |||||
| Net purchases of investments in other ventures | (39,000) | (1,915) | (3,000) | |||||
| Net purchases of other assets | 58,318 | (5,561) | (19,385) | |||||
| Net purchases of subsidiaries | 0 | 0 | (2,741) | |||||
| Dividends and return of capital from subsidiaries | 0 | 0 | 0 | |||||
| Contributions to subsidiaries | 0 | 0 | 0 | |||||
| Due (from) to subsidiary | 0 | 0 | 0 | |||||
| Net proceeds from sale of discontinued operations held for sale | 269,520 | 0 | 0 | |||||
| Net cash provided by (used in) investing activities | 315,031 | 108,610 | (115,817) | |||||
| Cash flows (used in) provided by financing activities | ||||||||
| Dividends paid - RenaissanceRe common shares | (53,460) | (55,936) | (59,740) | |||||
| Dividends paid - preference shares | (35,000) | (42,118) | (42,300) | |||||
| RenaissanceRe common share repurchases | (191,619) | (448,882) | (50,972) | |||||
| Capital contributions | 0 | |||||||
| Return of additional paid in capital to parent company | 0 | |||||||
| Net repayment of debt | (200,000) | 249,046 | (150,000) | |||||
| Redemption of 7.30% Series B preference shares | 0 | (100,000) | 0 | |||||
| Third party investment in noncontrolling interest | 0 | 3,000 | 0 | |||||
| Reverse repurchase agreement | 0 | 0 | (50,042) | |||||
| Third party DaVinciRe share repurchases | (62,157) | (136,702) | (132,718) | |||||
| Net cash used in financing activities | (542,236) | (531,592) | (485,772) | |||||
| Effect of exchange rate changes on foreign currency cash | 518 | (1,003) | (1,276) | |||||
| Net increase (decrease) in cash and cash equivalents | (60,754) | 70,735 | (13,976) | |||||
| Net increase in cash and cash equivalents of discontinued operations | 0 | 3,891 | 31,961 | |||||
| Cash and cash equivalents, beginning of year | 277,738 | 203,112 | 185,127 | |||||
| Cash and cash equivalents, end of year | 216,984 | 277,738 | 203,112 | |||||
|
RenaissanceRe Holdings Ltd. (Parent Guarantor) [Member]
|
||||||||
| Cash flows provided by (used in) operating activities: | ||||||||
| Net cash (used in) provided by operating activities | (58,721) | (112,852) | 32,589 | |||||
| Cash flows provided by (used in) investing activities | ||||||||
| Proceeds from sales and maturities of fixed maturity investments available for sale | 0 | 37,457 | 518,941 | |||||
| Purchases of fixed maturity intestments available for sale | 0 | (240) | (477,412) | |||||
| Proceeds from sales and maturities of fixed maturity investments trading | 532,864 | 528,662 | 22,308 | |||||
| Purchases of fixed maturity investments trading | (684,951) | (610,276) | (216,676) | |||||
| Purchase of equity investments trading | 0 | |||||||
| Net (purchases) sales of short term investments | (6,014) | 16,339 | 61,842 | |||||
| Net sales of other investments | 102,717 | (3,814) | (81,519) | |||||
| Net purchases of investments in other ventures | 0 | 0 | 0 | |||||
| Net purchases of other assets | 0 | 0 | 0 | |||||
| Net purchases of subsidiaries | 0 | |||||||
| Dividends and return of capital from subsidiaries | 945,195 | 941,878 | 838,809 | |||||
| Contributions to subsidiaries | (272,366) | (301,555) | (248,589) | |||||
| Due (from) to subsidiary | 6,059 | 23,329 | (28,373) | |||||
| Net proceeds from sale of discontinued operations held for sale | 0 | |||||||
| Net cash provided by (used in) investing activities | 623,504 | 631,780 | 389,331 | |||||
| Cash flows (used in) provided by financing activities | ||||||||
| Dividends paid - RenaissanceRe common shares | (53,460) | (55,936) | (59,740) | |||||
| Dividends paid - preference shares | (35,000) | (42,118) | (42,300) | |||||
| RenaissanceRe common share repurchases | (191,619) | (448,882) | (50,972) | |||||
| Capital contributions | 0 | |||||||
| Return of additional paid in capital to parent company | 0 | |||||||
| Net repayment of debt | (277,512) | 253,512 | (126,000) | |||||
| Redemption of 7.30% Series B preference shares | 0 | (100,000) | 0 | |||||
| Third party investment in noncontrolling interest | 0 | |||||||
| Reverse repurchase agreement | 0 | |||||||
| Third party DaVinciRe share repurchases | 0 | (136,702) | (132,718) | |||||
| Net cash used in financing activities | (557,591) | (530,126) | (411,730) | |||||
| Effect of exchange rate changes on foreign currency cash | 0 | (594) | (106) | |||||
| Net increase (decrease) in cash and cash equivalents | 7,192 | (11,792) | 10,084 | |||||
| Net increase in cash and cash equivalents of discontinued operations | 0 | 0 | ||||||
| Cash and cash equivalents, beginning of year | 3,414 | 15,206 | 5,122 | |||||
| Cash and cash equivalents, end of year | 10,606 | 3,414 | 15,206 | |||||
|
RenRe North America Holdings Inc. (Subsidiary Issuer) [Member]
|
||||||||
| Cash flows provided by (used in) operating activities: | ||||||||
| Net cash (used in) provided by operating activities | (56,438) | (7,561) | 2,887 | |||||
| Cash flows provided by (used in) investing activities | ||||||||
| Proceeds from sales and maturities of fixed maturity investments available for sale | 0 | 244,147 | 0 | |||||
| Purchases of fixed maturity intestments available for sale | 0 | (246,570) | 0 | |||||
| Proceeds from sales and maturities of fixed maturity investments trading | 221,189 | 0 | 0 | |||||
| Purchases of fixed maturity investments trading | (322,318) | 0 | 0 | |||||
| Purchase of equity investments trading | 0 | |||||||
| Net (purchases) sales of short term investments | 9,184 | (12,150) | 2 | |||||
| Net sales of other investments | 0 | 0 | 0 | |||||
| Net purchases of investments in other ventures | 0 | 0 | 0 | |||||
| Net purchases of other assets | 0 | 0 | 0 | |||||
| Net purchases of subsidiaries | 0 | |||||||
| Dividends and return of capital from subsidiaries | 9,306 | 11,676 | 9,304 | |||||
| Contributions to subsidiaries | (8,294) | (47,493) | (8,752) | |||||
| Due (from) to subsidiary | 3,780 | (312) | 388 | |||||
| Net proceeds from sale of discontinued operations held for sale | 269,520 | |||||||
| Net cash provided by (used in) investing activities | 182,367 | (50,702) | 942 | |||||
| Cash flows (used in) provided by financing activities | ||||||||
| Dividends paid - RenaissanceRe common shares | 0 | 0 | 0 | |||||
| Dividends paid - preference shares | 0 | 0 | 0 | |||||
| RenaissanceRe common share repurchases | 0 | 0 | 0 | |||||
| Capital contributions | 4,215 | |||||||
| Return of additional paid in capital to parent company | (239,599) | |||||||
| Net repayment of debt | (124,949) | 294,196 | (6,000) | |||||
| Redemption of 7.30% Series B preference shares | 0 | |||||||
| Third party investment in noncontrolling interest | 0 | |||||||
| Reverse repurchase agreement | 0 | |||||||
| Third party DaVinciRe share repurchases | 0 | 0 | 0 | |||||
| Net cash used in financing activities | (124,949) | 54,597 | (1,785) | |||||
| Effect of exchange rate changes on foreign currency cash | 0 | 0 | 0 | |||||
| Net increase (decrease) in cash and cash equivalents | 980 | (3,666) | 2,044 | |||||
| Net increase in cash and cash equivalents of discontinued operations | 0 | 0 | ||||||
| Cash and cash equivalents, beginning of year | 3,940 | 7,606 | 5,562 | |||||
| Cash and cash equivalents, end of year | 4,920 | 3,940 | 7,606 | |||||
|
Other RenaissanceRe Holdings Ltd. Subsidiaries And Eliminations (Non-Guarantor Subsidiaries) [Member]
|
||||||||
| Cash flows provided by (used in) operating activities: | ||||||||
| Net cash (used in) provided by operating activities | 281,092 | [1] | 615,133 | [1] | 553,413 | [1] | ||
| Cash flows provided by (used in) investing activities | ||||||||
| Proceeds from sales and maturities of fixed maturity investments available for sale | 106,362 | [1] | 3,470,065 | [1] | 9,517,493 | [1] | ||
| Purchases of fixed maturity intestments available for sale | (4,107) | [1] | (156,850) | [1] | (10,039,496) | [1] | ||
| Proceeds from sales and maturities of fixed maturity investments trading | 5,335,415 | [1] | 7,266,925 | [1] | 38,910 | [1] | ||
| Purchases of fixed maturity investments trading | (5,264,354) | [1] | (10,512,547) | [1] | (628,790) | [1] | ||
| Purchase of equity investments trading | (47,995) | [1] | ||||||
| Net (purchases) sales of short term investments | 99,978 | [1] | (30,941) | [1] | 1,108,193 | [1] | ||
| Net sales of other investments | (51,777) | [1] | 125,879 | [1] | 85,513 | [1] | ||
| Net purchases of investments in other ventures | (39,000) | [1] | (1,915) | [1] | (3,000) | [1] | ||
| Net purchases of other assets | 58,318 | [1] | (5,561) | [1] | (19,385) | [1] | ||
| Net purchases of subsidiaries | (2,741) | [1] | ||||||
| Dividends and return of capital from subsidiaries | (954,501) | [1] | (953,554) | [1] | (848,113) | [1] | ||
| Contributions to subsidiaries | 280,660 | [1] | 349,048 | [1] | 257,341 | [1] | ||
| Due (from) to subsidiary | (9,839) | [1] | (23,017) | [1] | 27,985 | [1] | ||
| Net proceeds from sale of discontinued operations held for sale | 0 | [1] | ||||||
| Net cash provided by (used in) investing activities | (490,840) | [1] | (472,468) | [1] | (506,090) | [1] | ||
| Cash flows (used in) provided by financing activities | ||||||||
| Dividends paid - RenaissanceRe common shares | 0 | [1] | 0 | [1] | 0 | [1] | ||
| Dividends paid - preference shares | 0 | [1] | 0 | [1] | 0 | [1] | ||
| RenaissanceRe common share repurchases | 0 | [1] | 0 | [1] | 0 | [1] | ||
| Capital contributions | (4,215) | |||||||
| Return of additional paid in capital to parent company | 239,599 | [1] | ||||||
| Net repayment of debt | 202,461 | [1] | (298,662) | [1] | (18,000) | [1] | ||
| Redemption of 7.30% Series B preference shares | 0 | [1] | ||||||
| Third party investment in noncontrolling interest | 3,000 | [1] | ||||||
| Reverse repurchase agreement | (50,042) | [1] | ||||||
| Third party DaVinciRe share repurchases | (62,157) | [1] | 0 | [1] | 0 | [1] | ||
| Net cash used in financing activities | 140,304 | [1] | (56,063) | [1] | (72,257) | [1] | ||
| Effect of exchange rate changes on foreign currency cash | 518 | [1] | (409) | [1] | (1,170) | [1] | ||
| Net increase (decrease) in cash and cash equivalents | (68,926) | [1] | 86,193 | [1] | (26,104) | [1] | ||
| Net increase in cash and cash equivalents of discontinued operations | 3,891 | [1] | 31,961 | [1] | ||||
| Cash and cash equivalents, beginning of year | 270,384 | [1] | 180,300 | [1] | 174,443 | [1] | ||
| Cash and cash equivalents, end of year | $ 201,458 | [1] | $ 270,384 | [1] | $ 180,300 | [1] | ||
|
||||||||
| X | ||||||||||
|
- Definition
Amount of receivable or payable to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. No definition available.
|
| X | ||||||||||
|
- Definition
Payments to (Proceeds from) Contributions to Subsidiaries, Investing No definition available.
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) associated with the acquisition or disposal of other investments during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The net amount paid (received) by the reporting entity through acquisition (sale/maturities) of short-term investments with an original maturity that is one year or less which qualify for treatment as an investing activity based on management's intention and intended by management to be liquidated, if necessary, within the current operating cycle. No definition available.
|
| X | ||||||||||
|
- Definition
Proceeds from (Payments for) Contributed Capital No definition available.
|
| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents disclosure of the aggregate cash dividends paid to the entity by consolidated subsidiaries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
the increase (decrease) in cash associated with the entity's discontinued operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire preferred stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow during the period for redemption of redeemable noncontrolling interests. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow from the distribution of an entity's earnings in the form of dividends to common shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the return on capital for preferred shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the purchase of or advances to an equity method investments, which are investments in joint ventures and entities in which the entity has an equity ownership interest normally of 20 to 50 percent and exercises significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of or advances to an entity that is related to it but not strictly controlled (for example, an unconsolidated subsidiary, affiliate, and joint venture or equity method investment) or the acquisition of an additional interest in a subsidiary (controlled entity). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to acquire securities classified as trading securities and held for investment purposes. Excludes payments for trading securities purchased and held principally for the purpose of selling them in the near term (thus held for only a short period of time). No definition available.
|
| X | ||||||||||
|
- Definition
The cash inflow from an entity that is affiliated with the entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from the sale of a business segment or subsidiary or sale of an entity that is related to it but not strictly controlled during the period (for example, an unconsolidated subsidiary, affiliate, joint venture or equity method investment). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow contributed by noncontrolled interest that purchase additional shares or otherwise increase their ownership stake in a subsidiary of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash flow from purchases followed by sales of securities under terms of reverse repurchase agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from sales and purchases of trading securities during the period. Trading securities are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the sale or maturity (principal being due) of securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the sale, maturities, repayments and calls of securities classified as trading securities and held for investment purposes. Excludes proceeds from trading securities purchased and held principally for the purpose of selling them in the near term (thus held for only a short period of time). No definition available.
|
|
Schedule I. Summary of Investments Other Than Investments in Related Parties (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ||
| Market Value | $ 6,209,252 | |
| Amount at which shown in the Balance Sheet | 6,209,252 | |
| Short-term investments | 905,477 | 1,110,364 |
| Equity investments trading, at fair value (Notes 5 and 6) | 50,560 | 0 |
| Other investments | 748,984 | 787,548 |
| Investments in other ventures, under equity method (Note 5) | 70,714 | 85,603 |
|
Fixed Maturity Investments [Member]
|
||
| Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ||
| Amortized Cost | 4,396,598 | |
| Market Value | 4,433,517 | |
| Amount at which shown in the Balance Sheet | 4,433,517 | |
|
U.S. treasuries [Member]
|
||
| Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ||
| Amortized Cost | 874,969 | |
| Market Value | 885,152 | |
| Amount at which shown in the Balance Sheet | 885,152 | |
|
Agencies [Member]
|
||
| Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ||
| Amortized Cost | 156,986 | |
| Market Value | 158,561 | |
| Amount at which shown in the Balance Sheet | 158,561 | |
|
Non-U.S. Government (Sovereign Debt) [Member]
|
||
| Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ||
| Amortized Cost | 225,335 | |
| Market Value | 227,912 | |
| Amount at which shown in the Balance Sheet | 227,912 | |
|
FDIC guaranteed corporate [Member]
|
||
| Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ||
| Amortized Cost | 422,505 | |
| Market Value | 423,630 | |
| Amount at which shown in the Balance Sheet | 423,630 | |
|
Non-U.S. government-backed corporate [Member]
|
||
| Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ||
| Amortized Cost | 640,892 | |
| Market Value | 641,082 | |
| Amount at which shown in the Balance Sheet | 641,082 | |
|
Corporate [Member]
|
||
| Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ||
| Amortized Cost | 1,201,715 | |
| Market Value | 1,206,904 | |
| Amount at which shown in the Balance Sheet | 1,206,904 | |
|
Agency mortgage-backed [Member]
|
||
| Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ||
| Amortized Cost | 433,158 | |
| Market Value | 441,749 | |
| Amount at which shown in the Balance Sheet | 441,749 | |
|
Non-agency mortgage-backed [Member]
|
||
| Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ||
| Amortized Cost | 109,876 | |
| Market Value | 104,771 | |
| Amount at which shown in the Balance Sheet | 104,771 | |
|
Commercial mortgage-backed [Member]
|
||
| Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ||
| Amortized Cost | 313,327 | |
| Market Value | 325,729 | |
| Amount at which shown in the Balance Sheet | 325,729 | |
|
Asset-backed [Member]
|
||
| Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | ||
| Amortized Cost | 17,835 | |
| Market Value | 18,027 | |
| Amount at which shown in the Balance Sheet | $ 18,027 |
| X | ||||||||||
|
- Definition
This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy that will be realized in a short period of time, usually less than one year or the normal operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the carrying (reported) amount of the entity's investments as of the balance sheet date. This amount may represent the individual investment's or group of similar investments' original cost, fair value, or such other amount at which the investment is shown in the entity's balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the original cost of the entity's investments including investments in equity securities and, as to fixed maturities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the reported amount of the entity's investments measured at fair value. Fair value is the price that would be received to sell an investment in an orderly transaction between market participants at the balance sheet [measurement] date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total common and preferred stock (which is not mandatorily redeemable, redeemable at the option of the holder, or in any other way classified as liability) equity securities that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for equity securities formerly categorized as available-for-sale or held-to-maturity which the entity held as of the date it opted to account for such securities at fair value. An enterprise may also categorize such a security as trading without the intent to sell it in the near term assuming the decision to categorize the security as trading occurred at acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Schedule II. Condensed Financial Information Of Registrant Schedule II. Condensed Financial Information Of Registrant (Balance Sheets) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|---|---|---|---|---|
| Assets | ||||
| Fixed maturity investments trading, at fair value (Amortized cost $421,278 and $254,317 at December 31, 2011 and 2010, respectively) | $ 4,291,465 | $ 3,871,780 | ||
| Short term investments, at fair value (Notes 5 and 6) | 905,477 | 1,110,364 | ||
| Other investments | 748,984 | 787,548 | ||
| Total investments | 6,209,252 | 6,100,212 | ||
| Cash and cash equivalents | 216,984 | 277,738 | 203,112 | 185,127 |
| Investments in subsidiaries | 0 | 0 | ||
| Due from subsidiaries | 0 | 0 | ||
| Accrued investment income | 33,523 | 34,560 | ||
| Other assets | 180,992 | 219,623 | ||
| Total Assets | 7,744,912 | 8,138,278 | ||
| Liabilities | ||||
| Notes and bank loans payable | 353,620 | 549,155 | ||
| Contributions due to subsidiaries | 0 | 0 | ||
| Other liabilities | 211,369 | 236,310 | ||
| Total Liabilities | 3,478,652 | 3,441,409 | ||
| Shareholders' Equity | ||||
| Preference shares: $1.00 par value - 22,000,000 shares issued and outstanding at December 31, 2011 (2010 - 22,000,000 shares) | 550,000 | 550,000 | ||
| Common shares: $1.00 par value - 51,542,955 shares issued and outstanding at December 31, 2011 (2010 - 54,109,840 shares) | 51,543 | 54,110 | ||
| Accumulated other comprehensive income | 11,760 | 19,823 | ||
| Retained earnings | 2,991,890 | 3,312,392 | ||
| Total Shareholders' Equity | 3,608,533 | 3,939,214 | 3,840,786 | |
| Total Liabilities and Shareholders' Equity | 7,744,912 | 8,138,278 | ||
| Fixed maturity investments trading, Amortized cost | 4,265,929 | 3,859,442 | ||
|
Parent [Member]
|
||||
| Assets | ||||
| Fixed maturity investments trading, at fair value (Amortized cost $421,278 and $254,317 at December 31, 2011 and 2010, respectively) | 430,007 | 258,093 | ||
| Short term investments, at fair value (Notes 5 and 6) | 163,966 | 157,952 | ||
| Other investments | 0 | 101,595 | ||
| Total investments | 593,973 | 517,640 | ||
| Cash and cash equivalents | 10,606 | 3,414 | ||
| Investments in subsidiaries | 2,776,997 | 3,533,266 | ||
| Due from subsidiaries | 17,108 | 23,167 | ||
| Dividends due from subsidiaries | 154,961 | 122,131 | ||
| Accrued investment income | 4,106 | 3,720 | ||
| Other assets | 206,171 | 139,654 | ||
| Total Assets | 3,763,922 | 4,342,992 | ||
| Liabilities | ||||
| Notes and bank loans payable | 100,000 | 377,512 | ||
| Contributions due to subsidiaries | 30,519 | 0 | ||
| Other liabilities | 28,210 | 29,155 | ||
| Total Liabilities | 158,729 | 406,667 | ||
| Shareholders' Equity | ||||
| Preference shares: $1.00 par value - 22,000,000 shares issued and outstanding at December 31, 2011 (2010 - 22,000,000 shares) | 550,000 | 550,000 | ||
| Common shares: $1.00 par value - 51,542,955 shares issued and outstanding at December 31, 2011 (2010 - 54,109,840 shares) | 51,543 | 54,110 | ||
| Accumulated other comprehensive income | 11,760 | 19,823 | ||
| Retained earnings | 2,991,890 | 3,312,392 | ||
| Total Shareholders' Equity | 3,605,193 | 3,936,325 | ||
| Total Liabilities and Shareholders' Equity | 3,763,922 | 4,342,992 | ||
| Fixed maturity investments trading, Amortized cost | $ 421,278 | $ 254,317 |
| X | ||||||||||
|
- Definition
Dividends Receivable, Due from Subsidiaries No definition available.
|
| X | ||||||||||
|
- Definition
Interest, dividends, rents, ancillary and other revenues earned but not yet received by the entity on its investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of payable due to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of all notes and loans payable (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy that will be realized in a short period of time, usually less than one year or the normal operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents a parenthetical disclosure for the cost of securities classified as trading. No definition available.
|
| X | ||||||||||
|
- Definition
Debt securities that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for debt securities formerly categorized as available-for-sale or held-to-maturity which the entity held as of the date it opted to account for such securities at fair value. An enterprise may also categorize such a security as trading without the intent to sell it in the near term assuming the decision to categorize the security as trading occurred at acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Schedule II. Condensed Financial Information Of Registrant (Statements of Operations) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Mar. 31, 2009
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Revenues | ||||||||||||
| Net investment income | $ 52,331 | $ (27,940) | $ 33,328 | $ 60,281 | $ 52,503 | $ 59,570 | $ 26,173 | $ 65,709 | $ 118,000 | $ 203,955 | $ 318,179 | |
| Net foreign exchange gains (losses) | (400) | (2,650) | (4,521) | 660 | (4,646) | (529) | (609) | (11,342) | (6,911) | (17,126) | (13,623) | |
| Other (loss) income | (43,648) | (2,015) | (5,167) | 50,145 | 26,032 | 25,021 | (3,742) | (6,191) | (685) | 41,120 | 1,798 | |
| Net realized and unrealized gains on investments | 23,920 | 16,983 | 34,979 | (5,214) | (66,149) | 92,342 | 70,051 | 48,200 | 70,668 | 144,444 | 93,679 | |
| Total other-than-temporary impairments | (132) | (498) | 0 | 0 | 0 | 0 | (798) | (33) | (630) | (831) | (26,968) | |
| Net other-than-temporary impairments | (103) | (449) | 0 | 0 | 0 | 0 | (796) | (33) | (19,000) | (552) | (829) | (22,450) |
| Total revenues | 208,507 | 217,947 | 280,922 | 387,660 | 187,092 | 382,019 | 306,408 | 349,152 | 1,095,036 | 1,224,671 | 1,270,763 | |
| Expenses | ||||||||||||
| Interest expense | 5,721 | 5,722 | 5,730 | 6,195 | 6,303 | 6,164 | 6,206 | 3,156 | 23,368 | 21,829 | 15,111 | |
| Total expenses | 86,348 | 155,360 | 217,184 | 710,961 | 48,604 | 152,803 | 53,516 | 177,390 | 1,169,853 | 432,313 | 214,773 | |
| Income before equity in net (losses) income of subsidiaries and taxes | (74,817) | 792,358 | 1,055,990 | |||||||||
| Equity in net (losses) income of subsidiaries | 0 | 0 | 0 | |||||||||
| Income (loss) from continuing operations before taxes | 122,159 | 62,587 | 63,738 | (323,301) | 138,488 | 229,216 | 252,892 | 171,762 | (74,817) | 792,358 | 1,055,990 | |
| Income tax benefit (expense) | (2,945) | 1,435 | 1,773 | 52 | (196) | 2,399 | 958 | 2,963 | 315 | 6,124 | (10,031) | |
| Net (loss) income | 90,521 | 58,013 | 33,514 | (239,283) | 132,968 | 215,325 | 220,816 | 175,622 | (57,235) | 744,731 | 881,158 | |
| Dividends on preference shares | (8,750) | (8,750) | (8,750) | (8,750) | (10,393) | (10,575) | (10,575) | (10,575) | (35,000) | (42,118) | (42,300) | |
| Net (loss) income (attributable) available to RenaissanceRe common shareholders | 81,771 | 49,263 | 24,764 | (248,033) | 122,575 | 204,750 | 210,241 | 165,047 | (92,235) | 702,613 | 838,858 | |
|
Parent [Member]
|
||||||||||||
| Revenues | ||||||||||||
| Net investment income | 20,845 | 16,101 | 11,360 | |||||||||
| Net foreign exchange gains (losses) | 112 | (523) | (120) | |||||||||
| Other (loss) income | (11) | 631 | 516 | |||||||||
| Net realized and unrealized gains on investments | 11,377 | 10,107 | 3,010 | |||||||||
| Total other-than-temporary impairments | 0 | 0 | (1,041) | |||||||||
| Portion recognized in other comprehensive income, before taxes | 0 | 0 | 137 | |||||||||
| Net other-than-temporary impairments | 0 | 0 | (904) | |||||||||
| Total revenues | 32,323 | 26,316 | 13,862 | |||||||||
| Expenses | ||||||||||||
| Interest expense | 10,472 | 15,464 | 9,306 | |||||||||
| Operating and corporate expenses | 6,644 | 9,203 | 1,128 | |||||||||
| Total expenses | 17,116 | 24,667 | 10,434 | |||||||||
| Income before equity in net (losses) income of subsidiaries and taxes | 15,207 | 1,649 | 3,428 | |||||||||
| Equity in net (losses) income of subsidiaries | (73,066) | 744,492 | 877,730 | |||||||||
| Income (loss) from continuing operations before taxes | (57,859) | 746,141 | 881,158 | |||||||||
| Income tax benefit (expense) | 624 | (1,410) | 0 | |||||||||
| Net (loss) income | (57,235) | 744,731 | 881,158 | |||||||||
| Dividends on preference shares | (35,000) | (42,118) | (42,300) | |||||||||
| Net (loss) income (attributable) available to RenaissanceRe common shareholders | $ (92,235) | $ 702,613 | $ 838,858 | |||||||||
| X | ||||||||||
|
- Definition
This item represents the parent company's share of a subsidiary's net profit and loss for the period. No definition available.
|
| X | ||||||||||
|
- Definition
The total amount of expense recognized during the period for future policy benefits, claims and claims adjustment costs, and for selling, general and administrative costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for preferred shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate foreign currency transaction gain (loss) (both realized and unrealized) included in determining net income for the reporting period. Excludes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. For certain enterprises, primarily banks, that are dealers in foreign exchange, foreign currency transaction gains (losses) may be disclosed as dealer gains (losses). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The income earned from investments in securities and property, equipment and other capital assets. It includes rent from property and equipment, dividends from shares in corporations, and interest from bonds, loans, mortgages, derivatives, commercial paper, bank accounts, certificates of deposits, treasuries, and other financial securities. It does not include realized gains and losses on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
| X | ||||||||||
|
- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount by which the fair value of an investment in debt and equity securities categorized as Available-for-sale is less than the amortized cost basis or carrying amount of that investment at the balance sheet date and the decline in fair value is deemed to be other than temporary, before considering whether or not such amount is recognized in earnings or other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment (OTTI) loss on a debt security, categorized as Available-for-sale, related to factors other than credit losses when the entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis. This amount which is attributable to the parent, is a portion of the deduction from the total impairment losses of Investments (before taxes) presented on the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment losses on investments in debt and equity securities categorized as Available-for-sale which have been recognized in earnings during the period. Such impairment losses consist of other than temporary impairments (OTTI) on equity securities, credit losses on investments in debt securities, and when the entity intends to sell an impaired debt security or it is more likely than not that the entity will be required to sell the impaired debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Schedule II. Condensed Financial Information Of Registrant (Statements of Cash Flows) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Cash flows provided by (used in) operating activities: | |||
| Net (loss) income | $ (57,235) | $ 744,731 | $ 881,158 |
| Less: equity in net (losses) income of subsidiaries | 0 | 0 | 0 |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities | |||
| Net unrealized (gains) losses included in income (loss) | (22,683) | (57,540) | (88,545) |
| Net realized and unrealized gains on investments | (70,668) | (144,444) | (93,679) |
| Net other-than-temporary impairments | 552 | 829 | 22,450 |
| Other | (11,082) | 4,176 | 65,961 |
| Net cash (used in) provided by operating activities | 165,933 | 494,720 | 588,889 |
| Cash flows provided by investing activities: | |||
| Proceeds from maturities and sales of fixed maturity investments trading | 6,089,468 | 7,795,587 | 61,218 |
| Purchases of fixed maturity investments trading | (6,271,623) | (11,122,823) | (845,466) |
| Proceeds from maturities and sales of fixed maturity investments available for sale | 106,362 | 3,751,669 | 10,036,434 |
| Purchases of fixed maturity intestments available for sale | (4,107) | (403,660) | (10,516,908) |
| Contributions to subsidiaries | 0 | 0 | 0 |
| Net (purchases) sales of short term investments | 103,148 | (26,752) | 1,170,037 |
| Net sales (purchases) of other investments | 50,940 | 122,065 | 3,994 |
| Net cash provided by investing activities | 315,031 | 108,610 | (115,817) |
| Cash flows used in financing activities | |||
| Dividends paid - RenaissanceRe common shares | (53,460) | (55,936) | (59,740) |
| Dividends paid - preference shares | (35,000) | (42,118) | (42,300) |
| RenaissanceRe common share repurchases | (191,619) | (448,882) | (50,972) |
| Redemption of 7.30% Series B preference shares | 0 | (100,000) | 0 |
| Net (repayment) issuance of debt | (200,000) | 249,046 | (150,000) |
| Third party DaVinciRe share repurchases | (62,157) | (136,702) | (132,718) |
| Net cash used in financing activities | (542,236) | (531,592) | (485,772) |
| Effect of exchange rate changes on foreign currency cash | 518 | (1,003) | (1,276) |
| Net increase (decrease) in cash and cash equivalents | (60,754) | 70,735 | (13,976) |
| Cash and cash equivalents, beginning of year | 277,738 | 203,112 | 185,127 |
| Cash and cash equivalents, end of year | 216,984 | 277,738 | 203,112 |
|
RenaissanceRe Holdings Ltd. [Member]
|
|||
| Cash flows provided by (used in) operating activities: | |||
| Net (loss) income | (57,235) | 744,731 | 881,158 |
| Less: equity in net (losses) income of subsidiaries | (73,066) | 744,492 | 877,730 |
| Net Income | 15,831 | 239 | 3,428 |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities | |||
| Net realized and unrealized gains on investments | (11,377) | (10,107) | (3,010) |
| Net other-than-temporary impairments | 0 | 0 | 904 |
| Other | (61,783) | (98,255) | 32,034 |
| Net cash (used in) provided by operating activities | (58,721) | (112,852) | 32,589 |
| Cash flows provided by investing activities: | |||
| Proceeds from maturities and sales of fixed maturity investments trading | 532,864 | 528,662 | 22,308 |
| Purchases of fixed maturity investments trading | (684,951) | (610,276) | (216,676) |
| Proceeds from maturities and sales of fixed maturity investments available for sale | 0 | 37,457 | 518,941 |
| Purchases of fixed maturity intestments available for sale | 0 | (240) | (477,412) |
| Contributions to subsidiaries | (272,366) | (301,555) | (248,589) |
| Dividends and return of capital from subsidiaries | 945,195 | 941,878 | 838,809 |
| Net (purchases) sales of short term investments | (6,014) | 16,339 | 61,842 |
| Net sales (purchases) of other investments | 102,717 | (3,814) | (81,519) |
| Due to (from) subsidiary | 6,059 | 23,329 | (28,373) |
| Net cash provided by investing activities | 623,504 | 631,780 | 389,331 |
| Cash flows used in financing activities | |||
| Dividends paid - RenaissanceRe common shares | (53,460) | (55,936) | (59,740) |
| Dividends paid - preference shares | (35,000) | (42,118) | (42,300) |
| RenaissanceRe common share repurchases | (191,619) | (448,882) | (50,972) |
| Redemption of 7.30% Series B preference shares | 0 | (100,000) | 0 |
| Net (repayment) issuance of debt | (277,512) | 253,512 | (126,000) |
| Third party DaVinciRe share repurchases | 0 | (136,702) | (132,718) |
| Net cash used in financing activities | (557,591) | (530,126) | (411,730) |
| Effect of exchange rate changes on foreign currency cash | 0 | (594) | (106) |
| Net increase (decrease) in cash and cash equivalents | 7,192 | (11,792) | 10,084 |
| Cash and cash equivalents, beginning of year | 3,414 | 15,206 | 5,122 |
| Cash and cash equivalents, end of year | 10,606 | 3,414 | 15,206 |
|
Fixed Maturity Investments [Member] | RenaissanceRe Holdings Ltd. [Member]
|
|||
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities | |||
| Net realized and unrealized gains on investments | (11,377) | (10,107) | (3,010) |
| Cash flows provided by investing activities: | |||
| Proceeds from maturities and sales of fixed maturity investments trading | 532,864 | 528,662 | 22,308 |
| Purchases of fixed maturity investments trading | (684,951) | (610,276) | (216,676) |
|
Net Investment Income (Loss) [Member] | RenaissanceRe Holdings Ltd. [Member]
|
|||
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities | |||
| Net unrealized (gains) losses included in income (loss) | (1,696) | (4,462) | (190) |
|
Other Income (Loss) [Member] | RenaissanceRe Holdings Ltd. [Member]
|
|||
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities | |||
| Net unrealized (gains) losses included in income (loss) | $ 304 | $ (267) | $ (577) |
| X | ||||||||||
|
- Definition
Cash Dividends and Capital Returned to Parent Company No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the parent company's share of a subsidiary's net profit and loss for the period. No definition available.
|
| X | ||||||||||
|
- Definition
Income (Loss) from Continuing Operations before Equity Method Investments, Extraordinary Items, Noncontrolling Interest No definition available.
|
| X | ||||||||||
|
- Definition
Payments to (Proceeds from) Contributions to Subsidiaries, Investing No definition available.
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) associated with the acquisition or disposal of other investments during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The net amount paid (received) by the reporting entity through acquisition (sale/maturities) of short-term investments with an original maturity that is one year or less which qualify for treatment as an investing activity based on management's intention and intended by management to be liquidated, if necessary, within the current operating cycle. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) in obligations owed to an entity that is controlling, under the control of, or within the same control group as the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in other assets used in operating activities less other operating liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets and liabilities, other noncurrent assets and liabilities, or a combination of other current and noncurrent assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment losses on investments in debt and equity securities categorized as Available-for-sale which have been recognized in earnings during the period. Such impairment losses consist of other than temporary impairments (OTTI) on equity securities, credit losses on investments in debt securities, and when the entity intends to sell an impaired debt security or it is more likely than not that the entity will be required to sell the impaired debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire preferred stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow during the period for redemption of redeemable noncontrolling interests. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow from the distribution of an entity's earnings in the form of dividends to common shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the return on capital for preferred shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to acquire securities classified as trading securities and held for investment purposes. Excludes payments for trading securities purchased and held principally for the purpose of selling them in the near term (thus held for only a short period of time). No definition available.
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the sale or maturity (principal being due) of securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the sale, maturities, repayments and calls of securities classified as trading securities and held for investment purposes. Excludes proceeds from trading securities purchased and held principally for the purpose of selling them in the near term (thus held for only a short period of time). No definition available.
|
| X | ||||||||||
|
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Schedule III. Supplementary Insurance Information (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Supplementary Insurance Information, by Segment [Line Items] | |||
| Deferred Policy Acquisition Costs | $ 43,721 | $ 35,648 | $ 39,068 |
| Future Policy Benefits, Losses, Claims and Loss Expenses | 1,992,354 | 1,257,843 | 1,344,433 |
| Unearned Premiums | 347,655 | 286,183 | 317,592 |
| Premium Revenue | 951,049 | 864,921 | 882,204 |
| Net Investment Income | 118,000 | 203,955 | 318,179 |
| Benefits, Claims, Losses and Settlement Expenses | 861,179 | 129,345 | (70,698) |
| Amortization of Deferred Policy Acquisition Costs | 97,376 | 94,961 | 104,150 |
| Other Operating Expenses | 169,666 | 166,042 | 153,552 |
| Net Written Premiums | 1,012,773 | 848,965 | 838,333 |
|
Reinsurance [Member]
|
|||
| Supplementary Insurance Information, by Segment [Line Items] | |||
| Deferred Policy Acquisition Costs | 34,923 | 31,685 | 34,638 |
| Future Policy Benefits, Losses, Claims and Loss Expenses | 1,813,526 | 1,130,670 | 1,175,960 |
| Unearned Premiums | 301,845 | 264,113 | 302,915 |
| Premium Revenue | 873,088 | 838,790 | 849,725 |
| Net Investment Income | 0 | 0 | 0 |
| Benefits, Claims, Losses and Settlement Expenses | 783,704 | 113,804 | (87,639) |
| Amortization of Deferred Policy Acquisition Costs | 82,978 | 77,954 | 78,848 |
| Other Operating Expenses | 131,251 | 129,990 | 139,328 |
| Net Written Premiums | 913,499 | 809,719 | 839,023 |
|
Lloyd's [Member]
|
|||
| Supplementary Insurance Information, by Segment [Line Items] | |||
| Deferred Policy Acquisition Costs | 8,039 | 3,585 | |
| Future Policy Benefits, Losses, Claims and Loss Expenses | 87,495 | 20,031 | |
| Unearned Premiums | 43,367 | 21,162 | |
| Premium Revenue | 76,386 | 50,204 | |
| Net Investment Income | 0 | 0 | |
| Benefits, Claims, Losses and Settlement Expenses | 73,259 | 25,676 | |
| Amortization of Deferred Policy Acquisition Costs | 14,031 | 10,784 | |
| Other Operating Expenses | 36,732 | 24,837 | |
| Net Written Premiums | 98,617 | 61,189 | |
|
Insurance [Member]
|
|||
| Supplementary Insurance Information, by Segment [Line Items] | |||
| Deferred Policy Acquisition Costs | 759 | 378 | 4,430 |
| Future Policy Benefits, Losses, Claims and Loss Expenses | 91,333 | 107,142 | 168,473 |
| Unearned Premiums | 2,443 | 908 | 14,677 |
| Premium Revenue | 1,575 | (24,073) | 32,479 |
| Net Investment Income | 0 | 0 | 0 |
| Benefits, Claims, Losses and Settlement Expenses | 4,216 | (10,135) | 16,941 |
| Amortization of Deferred Policy Acquisition Costs | 367 | 6,223 | 25,302 |
| Other Operating Expenses | 1,683 | 11,215 | 14,224 |
| Net Written Premiums | 657 | (21,943) | (690) |
|
Other [Member]
|
|||
| Supplementary Insurance Information, by Segment [Line Items] | |||
| Deferred Policy Acquisition Costs | 0 | 0 | 0 |
| Future Policy Benefits, Losses, Claims and Loss Expenses | 0 | 0 | 0 |
| Unearned Premiums | 0 | 0 | 0 |
| Premium Revenue | 0 | 0 | 0 |
| Net Investment Income | 118,000 | 203,955 | 318,179 |
| Benefits, Claims, Losses and Settlement Expenses | 0 | 0 | 0 |
| Amortization of Deferred Policy Acquisition Costs | 0 | 0 | 0 |
| Other Operating Expenses | 0 | 0 | 0 |
| Net Written Premiums | $ 0 | $ 0 | $ 0 |
| X | ||||||||||
|
- Definition
Amount of amortization of deferred policy acquisition costs recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of insurance benefits, claims, losses and settlement expenses incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Net amount of deferred policy acquisition costs capitalized on contracts remaining in force on the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of reserves for future policy claims payable and loss expenses to be incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of net investment income earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of other operating expense incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of premium revenue earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of actual written premiums, including, as applicable, premiums from reinsurance assumed and net of premiums on reinsurance ceded. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of premiums not yet earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Schedule IV. Reinsurance (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
| Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract] | |||
| Property and liability premiums earned, Gross Amounts | $ 17,794 | $ 5,329 | $ 1,419 |
| Property and liability premiums earned, Ceded to Other Companies | 422,950 | 331,783 | 389,768 |
| Property and liability premiums earned, Assumed From Other Companies | 1,356,205 | 1,191,375 | 1,270,553 |
| Property and liability premiums earned, Net Amount | $ 951,049 | $ 864,921 | $ 882,204 |
| Property and liability premiums earned, Percentage of Amount Assumed to Net | 143.00% | 138.00% | 144.00% |
| X | ||||||||||
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- Definition
Amount of premiums assumed from other companies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of premiums ceded to other companies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Gross amount of premium revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
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- Definition
Net amount of gross premiums, less premiums ceded to other companies, plus premiums assumed from other companies; which represents the net amount of premium revenue on the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of amount of premiums assumed from other companies to net amount of premiums. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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|
Schedule VI. Supplementary Insurance Information Concerning Property/Casualty Insurance Operations (Details) (Consolidated Subsidiaries [Member], USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
|
Consolidated Subsidiaries [Member]
|
|||
| Supplemental Information for Property, Casualty Insurance Underwriters [Line Items] | |||
| Deferred Policy Acquisition Costs | $ 43,721 | $ 35,648 | $ 39,068 |
| Reserves for Unpaid Claims and Claim Adjustment Expenses | 1,992,354 | 1,257,843 | 1,344,433 |
| Discount, if any, Deducted | 0 | 0 | 0 |
| Unearned Premiums | 347,655 | 286,183 | 317,592 |
| Earned Premiums | 951,049 | 864,921 | 882,204 |
| Net Investment Income | 118,000 | 203,955 | 318,179 |
| Claims and Claim Adjustment Expenses Incurred Related to Current Year | 993,168 | 431,476 | 195,518 |
| Claims and Claim Adjustment Expenses Incurred Related to Prior Year | (131,989) | (302,131) | (266,216) |
| Amortization of Deferred Policy Acquisition Costs | 97,376 | 94,961 | 104,150 |
| Paid Claims and Claim Adjustment Expenses | 428,986 | 233,547 | 234,198 |
| Net Premiums Written | $ 1,012,773 | $ 848,965 | $ 838,333 |
| X | ||||||||||
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- Definition
Amount of amortization expense on deferred policy acquisition cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of insurance benefit, claims, loss and settlement expenses paid to the policyholders during the current accounting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
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- Definition
Amount of deferred policy acquisition cost related to property-casualty insurance policy written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of discount that may be deducted from the reserve for unpaid claims and claims adjustment expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of property-casualty insurance premium revenue earned on insurance policies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
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| X | ||||||||||
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- Definition
Amount of net investment income earned by property-casualty insurance underwriter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Payments of claims and claims adjustment expenses during the period of a property-casualty insurance entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of actual premium written by property-casualty insurance underwriter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of insurance benefit, claims, loss and settlement expenses paid to the policyholders during the prior accounting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of reserve, policy claim payable and loss expense incurred by property-casualty insurance underwriter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of property-casualty insurance premium revenue not yet earned on insurance policies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|