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Document and Entity Information Document
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3 Months Ended | |
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Mar. 31, 2012
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Apr. 26, 2012
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| Document And Entity Information [Abstract] | ||
| Entity Registrant Name | RENAISSANCERE HOLDINGS LTD | |
| Trading Symbol | RNR | |
| Entity Central Index Key | 0000913144 | |
| Current Fiscal Year End Date | --03-31 | |
| Entity Filer Category | Large Accelerated Filer | |
| Document Type | 10-Q | |
| Document Period End Date | Mar. 31, 2012 | |
| Document Fiscal Year Focus | 2012 | |
| Document Fiscal Period Focus | Q1 | |
| Amendment Flag | false | |
| Entity Common Stock, Shares Outstanding | 51,763,738 |
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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 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
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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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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- Details
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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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- 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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- 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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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. 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 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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- 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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- 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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- 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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- 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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- 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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- 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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- 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 |
Mar. 31, 2012
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Dec. 31, 2011
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| Statement of Financial Position [Abstract] | ||
| Fixed maturity investments trading, Amortized cost | $ 4,129,942 | $ 4,265,929 |
| Fixed maturity investments available-for-sale, Amortized cost | $ 113,131 | $ 130,699 |
| 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) | 51,765,197 | 51,542,955 |
| Common Shares, Shares outstanding (In shares) | 51,765,197 | 51,542,955 |
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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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- 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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- 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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- 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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- 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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- 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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- 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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- Details
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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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- Definition
Change during the period in the unearned portion of gross premiums written (direct and assumed) and ceded premiums written. No definition available.
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- 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.
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- 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
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- Details
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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
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- 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
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- 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
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- 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
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| X | ||||||||||
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- 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
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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 (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
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| X | ||||||||||
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- 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
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- 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
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
|
|
Consolidated Statements Of Comprehensive Income (Loss) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|||||
| Comprehensive income (loss) | ||||||
| Net income (loss) | $ 263,820 | $ (324,775) | ||||
| Change in net unrealized gains on investments | 1,255 | [1] | 19 | [1] | ||
| Portion of other-than-temporary impairments recognized in other comprehensive income (loss) | (27) | [1] | 0 | [1] | ||
| Comprehensive income (loss) | 265,048 | (324,756) | ||||
| Net (income) loss attributable to noncontrolling interests | (53,641) | 85,492 | ||||
| Change in net unrealized gains on fixed maturity investments available for sale attributable to noncontrolling interests | 0 | [1] | 3 | [1] | ||
| Comprehensive (income) loss attributable to noncontrolling interests | (53,641) | 85,495 | ||||
| Comprehensive income (loss) attributable to RenaissanceRe | 211,407 | (239,261) | ||||
| Disclosure regarding net unrealized gains | ||||||
| Total realized and net unrealized holding gains on investments available for sale and net other-than-temporary impairments | 2,424 | (390) | ||||
| Net realized (gains) losses on fixed maturity investments available for sale | (1,303) | 412 | ||||
| Net other-than-temporary impairments recognized in earnings | 134 | 0 | ||||
| Change in net unrealized gains on investments available for sale | $ 1,255 | $ 22 | ||||
|
||||||
| 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 Changes In Shareholders' Equity (USD $)
In Thousands, unless otherwise specified |
Total
|
Preference Shares [Member]
|
Common Shares [Member]
|
Additional Paid-In Capital [Member]
|
Accumulated Other Comprehensive Income [Member]
|
Retained Earnings [Member]
|
Noncontrolling Interest [Member]
|
|---|---|---|---|---|---|---|---|
| Beginning of period at Dec. 31, 2010 | $ 550,000 | $ 54,110 | $ 0 | $ 19,823 | $ 3,312,392 | ||
| Statement of Changes in Stockholders' Equity | |||||||
| Change in net unrealized gains on investments | (22) | 22 | |||||
| Portion of other-than-temporary impairments recognized in other comprehensive income (loss) | 0 | ||||||
| Net income (loss) | (324,775) | (324,775) | |||||
| Net (income) loss attributable to noncontrolling interests | 85,492 | 85,492 | |||||
| Repurchase of shares | (2,655) | 546 | (172,683) | ||||
| Change in redeemable noncontrolling interest - DaVinciRe | 26 | ||||||
| Exercise of options and issuance of restricted stock awards | 287 | (572) | |||||
| Dividends on common shares | (13,361) | ||||||
| Dividends on preference shares | (8,750) | (8,750) | |||||
| Noncontrolling interest | 3,160 | ||||||
| Total shareholders' equity at Mar. 31, 2011 | 3,503,062 | ||||||
| End of period at Mar. 31, 2011 | 550,000 | 51,742 | 0 | 19,845 | 2,878,315 | ||
| Beginning of period at Dec. 31, 2011 | 3,605,193 | 550,000 | 51,543 | 0 | 11,760 | 2,991,890 | |
| Statement of Changes in Stockholders' Equity | |||||||
| Change in net unrealized gains on investments | (1,255) | 1,255 | |||||
| Portion of other-than-temporary impairments recognized in other comprehensive income (loss) | (27) | ||||||
| Net income (loss) | 263,820 | 263,820 | |||||
| Net (income) loss attributable to noncontrolling interests | (53,641) | (53,641) | |||||
| Repurchase of shares | (51) | (3,584) | 0 | ||||
| Change in redeemable noncontrolling interest - DaVinciRe | 3,578 | ||||||
| Exercise of options and issuance of restricted stock awards | 273 | 385 | |||||
| Dividends on common shares | (13,886) | ||||||
| Dividends on preference shares | (8,750) | (8,750) | |||||
| Noncontrolling interest | 3,892 | 3,892 | |||||
| Total shareholders' equity at Mar. 31, 2012 | 3,798,457 | ||||||
| End of period at Mar. 31, 2012 | $ 3,794,565 | $ 550,000 | $ 51,765 | $ 379 | $ 12,988 | $ 3,179,433 |
| 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 Cash Flows (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|
| Cash flows provided by (used in) operating activities | ||
| Net income (loss) | $ 263,820 | $ (324,775) |
| Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities | ||
| Amortization, accretion and depreciation | 13,581 | 10,523 |
| Equity in undistributed (earnings) losses of other ventures | (4,933) | 26,368 |
| Net realized and unrealized (gains) losses on investments | (46,113) | 5,214 |
| Net other-than-temporary impairments | 134 | 0 |
| Net unrealized gains included in net investment income | (36,061) | (28,067) |
| Net unrealized gains included in other (loss) income | (18,563) | (56,820) |
| Change in: | ||
| Premiums receivable | (232,054) | (252,467) |
| Prepaid reinsurance premiums | (85,168) | (65,079) |
| Reinsurance recoverable | 124,631 | (222,413) |
| Deferred acquisition costs | (27,441) | (21,008) |
| Reserve for claims and claim expenses | (134,151) | 812,252 |
| Unearned premiums | 299,078 | 213,982 |
| Reinsurance balances payable | 28,324 | (61,361) |
| Other | 26,020 | (42,646) |
| Net cash provided by (used in) operating activities | 171,104 | (6,297) |
| Cash flows (used in) provided by investing activities | ||
| Proceeds from sales and maturities of fixed maturity investments trading | 2,656,296 | 1,628,600 |
| Purchases of fixed maturity investments trading | (2,551,249) | (1,414,735) |
| Proceeds from sales and maturities of fixed maturity investments available for sale | 20,385 | 13,984 |
| Purchases of equity investments trading | 0 | (12,108) |
| Net purchases of short term investments | (305,867) | (249,878) |
| Net (purchases) sales of other investments | (9,663) | 38,083 |
| Net purchases of investments in other ventures | 0 | (21,000) |
| Net sales of other assets | 125 | 47,400 |
| Net proceeds from sale of discontinued operations held for sale | 0 | 269,520 |
| Net cash (used in) provided by investing activities | (189,973) | 299,866 |
| Cash flows provided by (used in) financing activities | ||
| Dividends paid - RenaissanceRe common shares | (13,886) | (13,361) |
| Dividends paid - preference shares | (8,750) | (8,750) |
| RenaissanceRe common share repurchases | (3,635) | (174,792) |
| Net third party DaVinciRe share repurchases | 88,146 | (124,047) |
| Net cash provided by (used in) financing activities | 61,875 | (320,950) |
| Effect of exchange rate changes on foreign currency cash | 992 | 2,274 |
| Net increase (decrease) in cash and cash equivalents | 43,998 | (25,107) |
| Cash and cash equivalents, beginning of period | 216,984 | 277,738 |
| Cash and cash equivalents, end of period | $ 260,982 | $ 252,631 |
| 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 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.
|
| X | ||||||||||
|
- Definition
Net other than temporary impairments including discontinued operations for the comparative period(s). 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 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
|
| 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 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
|
| X | ||||||||||
|
- 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
|
| X | ||||||||||
|
- Details
|
| 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 change in the premium receivable balance on the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- 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
|
| X | ||||||||||
|
- 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
|
| X | ||||||||||
|
- 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
|
| X | ||||||||||
|
- 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
|
| X | ||||||||||
|
- Definition
The amount of the other adjustment made to the claims reserves during the period. 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 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 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 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 | ||||||||||
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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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- 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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- 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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- 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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- 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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- 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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- 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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Organization
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Mar. 31, 2012
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||
| Organization | ORGANIZATION This report on Form 10-Q should be read in conjunction with the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011. 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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- Details
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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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3 Months Ended |
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Mar. 31, 2012
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| Accounting Policies [Abstract] | |
| Significant Accounting Policies | SIGNIFICANT ACCOUNTING POLICIES There have been no material changes to our significant accounting policies as described in our Annual Report on Form 10-K for the year ended December 31, 2011. BASIS OF PRESENTATION The consolidated financial statements have been prepared on the basis of accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these unaudited consolidated financial statements reflect all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the Company's financial position and results of operations as at the end of and for the periods presented. All significant intercompany accounts and transactions have been eliminated from these statements. 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 comparative information has been reclassified to conform to the current presentation. Because of the seasonality of the Company's business, the results of operations and cash flows for any interim period will not necessarily be indicative of the results of operations and cash flows for the full fiscal year or subsequent quarters. 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 deferred tax valuation allowance. RECENTLY ADOPTED 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 became effective for fiscal periods beginning on or after December 15, 2011, and as a result, the Company adopted ASU 2010-26 effective January 1, 2012. The adoption of ASU 2010-26 did not have a material impact on the Company's 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 became effective for fiscal years, and interim periods within those years, beginning after December 15, 2011 and as a result, the Company adopted ASU 2011-04 effective January 1, 2012. The adoption of ASU 2011-04 did not have a material impact on the Company's consolidated statements of operations and financial condition. The additional disclosures required by ASU 2011-04 have been provided in "Note 5. Fair Value Measurements" of the Company's Notes to Consolidated Financial Statements. Presentation of Comprehensive Income In June 2011, the FASB issued ASU No. 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 became effective for fiscal years, and interim periods within those years, beginning after December 15, 2011, with retroactive application required. The Company adopted ASU 2010-26 effective January 1, 2012 and it did not have a material impact on the Company's consolidated statements of operations and financial condition. |
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- Definition
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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3 Months Ended |
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Mar. 31, 2012
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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 represented the maximum amount payable under the Reserve Collar. |
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- Definition
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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Investments
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Mar. 31, 2012
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| Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 March 31, 2012, $1,252.1 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, $483.0 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 (Losses) on Investments and Net Other-Than-Temporary Impairments The components of net investment income are as follows:
Net realized and unrealized gains (losses) 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 March 31, 2012, the Company held 15 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 three months ended March 31, 2012 and 2011, 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 The Company's process for assessing whether declines in the fair value of its fixed maturity investments available for sale represent impairments that are other-than-temporary 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 three months ended March 31, 2012, the Company recognized $Nil other-than-temporary impairments due to the Company’s intent to sell these securities as of March 31, 2012 (2011 – $Nil). 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 three months ended March 31, 2012, the Company recognized $Nil of other-than-temporary impairments due to required sales (2011 – $Nil). 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 three months ended March 31, 2012, the Company recognized $0.1 million of other-than-temporary impairments which were recognized in earnings and $27 thousand related to other factors which were recognized in other comprehensive income (2011 – $Nil and $Nil, 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:
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- Definition
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 Measurements
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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, or Level 2 and Level 3, respectively, during the period represented by these consolidated financial statements. 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:
(1) See "Note 11. Derivative Instruments" for additional information related to the fair value by type of contract, of derivatives entered into by the Company.
(1) See "Note 11. Derivative Instruments" for additional information related to the fair value by type of contract, of derivatives entered into by the Company. Level 1 and Level 2 Assets and Liabilities Measured at Fair Value 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, Federal Deposit Insurance Company ("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 primarily 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, observed spreads, and performance on newly issued securities. Broker-dealers also determine valuations by observing secondary trading of similar securities. 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 market observable inputs. The techniques generally used to determine the fair value of our fixed maturity investments are detailed below by asset class. U.S. treasuries Level 1 - At March 31, 2012, the Company’s U.S. treasuries fixed maturity investments are primarily priced by pricing services and had a weighted average effective yield of 0.6% and a weighted average credit quality of AA (December 31, 2011 - 0.6% and AA, respectively). When pricing these securities, the pricing services utilize daily data from many real time market sources, including active broker dealers. Certain data sources are regularly reviewed for accuracy to attempt to ensure the most reliable price source is used for each issue and maturity date. Agencies Level 2 - At March 31, 2012, the Company’s agency fixed maturity investments had a weighted average effective yield of 0.7% and a weighted average credit quality of AA (December 31, 2011 - 0.5% and AA, respectively). 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 services. 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 fair value of each security is individually computed using analytical models which incorporate option adjusted spreads and other daily interest rate data. Non-U.S. government (Sovereign debt) Level 2 - Non-U.S. government fixed maturity investments held by the Company at March 31, 2012, had a weighted average effective yield of 2.9% and a weighted average credit quality of AA (December 31, 2011 - 2.3% and AA, respectively). The issuers of securities in this sector are 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. FDIC guaranteed corporate Level 2 - The Company’s FDIC guaranteed corporate fixed maturity investments had a weighted average effective yield of 0.2% and a weighted average credit quality of AA at March 31, 2012 (December 31, 2011 - 0.3% and AA, respectively). 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 and 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. In certain instances, securities are individually evaluated using a spread which is added to the U.S. treasury curve. Non-U.S. government-backed corporate Level 2 - Non-U.S. government-backed corporate fixed maturity investments had a weighted average effective yield of 1.3% and a weighted average credit quality of AAA at March 31, 2012 (December 31, 2011 - 1.4% and AAA, respectively). 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 to the respective curve 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 Level 2 - At March 31, 2012, the Company’s corporate fixed maturity investments principally consist of U.S. and international corporations and had a weighted average effective yield of 3.7% and a weighted average credit quality of A (December 31, 2011 - 4.2% and A, respectively). The Company’s 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 and 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. In certain instances, securities are individually evaluated using a spread which is added to the U.S. treasury curve or a security specific swap curve as appropriate. Agency mortgage-backed Level 2 - At March 31, 2012, the Company’s agency mortgage-backed fixed maturity investments included agency residential mortgage-backed securities with a weighted average effective yield of 1.4%, a weighted average credit quality of AA and a weighted average life of 2.6 years (December 31, 2011 - 1.5%, AA and 2.6 years, respectively). 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. Non-agency mortgage-backed Level 2 - 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. The Company has no fixed maturity investments classified as sub-prime held in its fixed maturity investments portfolio. At March 31, 2012, the Company’s non-agency prime residential mortgage-backed fixed maturity investments have a weighted average effective yield of 6.4%, a weighted average credit quality of BBB, and a weighted average life of 3.5 years (December 31, 2011 - 8.0%, BBB and 3.3 years, respectively). The Company’s non-agency Alt-A fixed maturity investments held at March 31, 2012 have a weighted average effective yield of 6.7%, a weighted average credit quality of A, a weighted average life of 3.9 years, and are from vintage years 2006 and prior (December 31, 2011 - 9.1%, A, 3.8 years and 2006 and prior, respectively) . 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 Level 2 - The Company’s commercial mortgage-backed fixed maturity investments held at March 31, 2012 have a weighted average effective yield of 2.7%, a weighted average credit quality of AA, and a weighted average life of 3.9 years (December 31, 2011 - 3.2%, AA and 4.2 years, respectively). Securities held in these sectors are primarily priced by pricing services. 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 pricing services discount the expected cash flows for each security held in this sector using a spread adjusted benchmark yield based on the characteristics of the security. Asset-backed Level 2 - At March 31, 2012, the Company’s asset-backed fixed maturity investments had a weighted average effective yield of 0.5%, a weighted average credit quality of AAA and a weighted average life of 1.2 years (December 31, 2011 - 0.9%, AAA and 1.8 years, respectively). The underlying collateral for the Company’s asset-backed fixed maturity investments primarily consists of student loans, credit card receivables, auto loans and other receivables. Securities held in these sectors are primarily priced by pricing services. 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 pricing services determine the expected cash flows for each security held in this sector using historical prepayment and default projections for the underlying collateral and current market data. In addition, a spread is applied to the relevant benchmark and used to discount the cash flows noted above to determine the fair value of the securities held in this sector. Short Term Investments Level 2 - The fair value of the Company's portfolio of short term investments 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 Level 1 - The fair value of the Company's portfolio of equity investments, classified as trading 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 attempt to ensure the most reliable price source is used for each issue. Other investments Senior secured bank loan funds Level 2 - At March 31, 2012, 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 determined using the net asset value per share of the funds. Investments of $245.1 million are redeemable, in part on a monthly basis, or in whole over a three month period. Catastrophe bonds Level 2 - 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 is based on broker or underwriter bid indications. 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. During April 2012, the Company fully redeemed its remaining investment in non-U.S. fixed income funds at the then net asset value per share. Hedge funds Level 2 - The Company has investments in hedge funds that pursue multiple strategies. The fair values of the Company’s hedge funds are determined by adjusting the previous period's reported net asset value, which is generally one month in arrears, for an estimated periodic rate of return obtained from the respective investment manager. For each respective hedge fund investment, the Company obtains and reviews the valuation methodology used by the investment manager and the latest audited financial statements to attempt to ensure that the hedge fund investment is following fair value principles consistent with GAAP in determining the net asset value of each investor's interest. Other assets and liabilities Derivatives Level 1 and Level 2 - Other assets and liabilities include certain other derivatives entered into by the Company. The fair value of these transactions include certain exchange traded foreign currency forward contracts which are considered Level 1, and certain credit derivatives, determined using standard industry valuation models and considered Level 2, as the inputs to the valuation model are based on observable market inputs, including credit spreads, credit ratings of the underlying referenced security, the risk free rate and the contract term. Other Level 1 - The liabilities measured at fair value and included in Level 1 at March 31, 2012 of $1.5 million are principally cash settled restricted stock units (“CSRSU”) that form part of the Company's compensation program. The fair value of the Company's CSRSUs is determined using observable exchange traded prices for the Company's common shares. 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 March 31, 2012, the fair value of the 5.875% Senior Notes was $103.5 million (December 31, 2011 – $103.4 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 March 31, 2012, the fair value of the 5.75% Senior Notes was $262.0 million (December 31, 2011 - $263.0 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, which the Company considers Level 2 in the fair value hierarchy. There have been no changes during the period in the Company's valuation technique used to determine the fair value of its Senior Notes. Level 3 Assets and Liabilities Measured at Fair Value Below is a summary of quantitative information regarding the significant observable and unobservable inputs (Level 3) used in determining the fair value of assets and liabilities measured at fair value on a recurring basis:
Fixed Maturity Investments Corporate Level 3 - Included in the Company's corporate fixed maturity investments is an investment with a fair value of $17.6 million in the preferred equity of a property and casualty insurance group organized to market residential property insurance in North America. The Company measures the fair value of this investment using a DCF model and seeks to incorporate all relevant information reasonably available to it. The Company considers the contractual agreement which stipulates the methodology for calculating a dividend rate to be paid upon liquidation, conversion or redemption. At March 31, 2012, the dividend rate was 5.9%. In addition, the Company has estimated an illiquidity premium of 1.0% and a risk-free rate of 0.2%. To ensure the estimate for fair value determined using the DCF model is reasonable, the Company reviews private market comparables of similar investments, if available, and in particular, credit ratings of other private market comparables for similar investments to determine the appropriateness of its estimate of fair value using a DCF model. The fair value of the Company's investment in corporate fixed maturity investments determined by a DCF model is positively correlated to the dividend rate, and inversely correlated to the credit spread, illiquidity premium and the risk-free rate. In addition, the Company's corporate fixed maturity investments include an investment with a fair value of $10.3 million in the preferred equity of a company that provides insurance for a variety of veterinarian costs, including surgeries, medication and diagnostic testing. When utilizing an internal valuation model to determine the fair value of this investment, the Company uses 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. In circumstances where a private market transaction has recently occurred, the Company will evaluate the comparableness of that transaction and incorporate into its internal valuation model accordingly. Recent private market transactions of investments similar to that held by the Company have been used to determine the fair value of $10.3 million at March 31, 2012, as the Company believes it represents the price that would be received upon the sale of its investment in an orderly transaction among market participants. Consequently, should future relevant private market transactions occur, the Company will re-evaluate the information available used to determine fair value of this investment and record any adjustments to fair value in its consolidated statements of operations. Other investments Private equity partnerships Level 3 - Included in the Company’s investments in private equity partnerships at March 31, 2012 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 current estimated net asset values established in accordance with the governing documents of such investments and is 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. As a result, the Company is unable to corroborate the fair value measurement of the underlying investments of the private equity partnership and therefore requires significant management judgment to determine the fair value of the private equity partnership. 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 relevant information reasonably 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. The range of such current estimated periodic returns for the three months ended March 31, 2012 was negative 6.0% to positive 64.4% with a weighted average of 8.4%. The fair value of the Company's investment in private equity partnerships is positively correlated to the estimated periodic rate of return. 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. For each respective private equity partnership, the Company obtains and reviews the valuation methodology used by the investment manager or general partner and the latest audited financial statements to ensure that the investment partnership is following fair value principles consistent with GAAP in determining the net asset value of each limited partner's interest. Senior secured bank loan funds Level 3 - The Company also has a $21.0 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 estimated 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. The Company obtains and reviews the latest audited financial statements to attempt to ensure that the fund is following fair value principles consistent with GAAP in determining the net asset value. Hedge funds Level 3 - 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 generally does not have the right to redeem its interest, and as such, the Company classifies this portion of its investment as Level 3. The fair value of these illiquid investments are determined by adjusting the previous periods' reported net asset value (generally one month in arrears) for an estimated periodic rate of return obtained from the respective investment manager. For each respective hedge fund investment, the Company obtains and reviews the valuation methodology used by the investment manager and the latest audited financial statements to ensure that the hedge fund investment is following fair value principles consistent with GAAP in determining the net asset value. Miscellaneous other investments Level 3 - Included in miscellaneous other investments is a loan to a third party. As a result of the recent restructuring of the loan, including prepayment of principal during the first quarter of 2012, the outstanding principal on the loan decreased to $1.3 million. The Company determines the fair value of this loan using a DCF model and endeavors to incorporate all relevant information reasonably available, including the outstanding principal amount, interest rate inherent in the loan as determined using the 3-month LIBOR, credit spread and an illiquidity premium. The fair value of this loan is inversely correlated to the 3-month LIBOR, credit spread and illiquidity premium. Other assets and liabilities Assumed and ceded (re)insurance contracts Level 3 - The fair value of the Company's assumed and ceded (re)insurance contracts is obtained through the use of an internal valuation model with the inputs to the internal valuation model based on proprietary data as observable market inputs are not available. The Company has elected the fair value option to measure certain of its assumed and ceded (re)insurance contracts. The most significant unobservable input is the reserve for claims and claim expenses and losses recoverable. Generally, an increase (decrease) in the reserve for claims and claim expenses, or a decrease (increase) in losses recoverable, would result in a decrease (increase) to the fair value of the Company's assumed and ceded (re)insurance contracts. Derivatives Level 3 - Derivatives measured at fair value include 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 in instances where market prices are not available, the Company uses industry or internally developed valuation techniques such as spread option, Black Scholes, quanto and simulation modeling to determine fair value and are considered Level 3. These models may reference prices for similar instruments. Observable and unobservable inputs to these valuation techniques vary by contract requirements and commodity type, are validated using market-based or independently sourced parameters where applicable and would typically include the following, if applicable, dependent on contract requirements and commodity type:
The range of each unobservable input could vary based on the specific commodity, including, but not limited to natural gas, electricity, crude, liquids, temperature or precipitation. Due to the diversity of the portfolio, the range of unobservable inputs could be wide-spread as reflected in the above table on quantitative information. If a trade has one or more significant valuation inputs that are unobservable, such trades are initially valued at the transaction price, which is considered to be the best initial estimate of fair value. Subsequent to the initial valuation, the Company updates market observable inputs to reflect observable market changes. The unobservable inputs are validated at each reporting period and are only changed when corroborated by evidence such as similar market transactions, third-party pricing services and/or broker or dealer quotations or other empirical market data. The Company seeks to use broker quotes in less liquid markets. Changes in any or all of the unobservable inputs listed above may contribute positively or negatively to the overall portfolio fair value depending upon the underlying position. In general, movements in weather curves are the largest contributing factor that impact fair value. However, trades valued using unobservable inputs represent a small percentage of the total number of transactions in the portfolio. Pricing models are internally approved by the Company's Risk Committee prior to implementation and are reviewed periodically. Other Level 3 - The Company has an investment of $14.2 million at March 31, 2012 in the common equity of a mortgage insurance company which provides private capital to lenders and investors that supports financing for homeowner mortgages. The fair value of this investment is based on the unadjusted net asset value obtained from the management of the mortgage insurance company. The fair value of the Company's investment is positively correlated to the net asset valuation. The Company also considers factors such as recent financial information, the value of capital transactions with the mortgage insurance company and management's judgment regarding whether any adjustments should be made to the net asset value. The Company also has an investment in the preferred equity of a company that develops online risk management products primarily focused on motor fuels risk, more specifically, structuring products, sourcing the risk and facilitating the settlement of capital. The fair value of this investment at March 31, 2012 of $1.3 million was determined using recent private market transactions. In instances where private market transactions are not available, the fair value is measured using a number of qualitative and quantitative factors, including but not limited to a net asset estimation of the company, projected earnings, private market transactions, and any other information that may be available to the Company. At March 31, 2012, the Company determined that the fair value of its investment was appropriate when compared to the net asset position of the company and recent private market transactions. Should the net asset position of the company increase, the fair value of the Company's investment would also increase. 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.
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 the three months ended March 31, 2012 was $35.3 million of net unrealized gains related to the changes in fair value of other investments (2011 – $28.1 million). Net unrealized losses related to the changes in the fair value of other assets and liabilities recorded in other (loss) income was $2.1 million for the three months ended March 31, 2012 (2011 – $42.7 million). 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 of the investments, as discussed in detail above. 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 determined using the net asset value per share of the funds or the estimated net asset per share where applicable, as discussed in detail above. Investments of $245.1 million are redeemable, in part on a monthly basis, or in whole over a three month period. The Company also has a $21.0 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, as discussed above. Investments of $31.7 million are redeemable, in whole or in part, on a bi-monthly basis. During April 2012, the Company fully redeemed its remaining investment in non-U.S. fixed income funds at the then net asset value per share. 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, as discussed in detail above. Included in the Company's investments in hedge funds at March 31, 2012, are $6.7 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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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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Mar. 31, 2012
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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:
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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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Noncontrolling Interests
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Mar. 31, 2012
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| Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 is recorded in the consolidated statements of operations as net (income) loss attributable to noncontrolling interests. The Company's ownership in DaVinciRe was 34.7% at March 31, 2012 (December 31, 2011 - 42.8%). 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, 2011, in accordance with the Shareholders Agreement. The repurchase notices submitted on or before March 1, 2011, were 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 March 1, 2012, were for shares of DaVinciRe with a GAAP book value of $48.2 million at March 31, 2012. 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, has invested $55 thousand in the Angus Fund, representing a 1.0% ownership interest at March 31, 2012 (December 31, 2011 - $41 thousand and 1.0%, respectively), and RRCA, a limited partner, has invested $2.0 million in the Angus Fund, representing a 36.3% ownership interest at March 31, 2012 (December 31, 2011 - $1.0 million and 24.2%, 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 portion of the Angus Fund's earnings owned by third parties is recorded in the consolidated statements of operations as net (income) loss attributable to 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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Mar. 31, 2012
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| Stockholders' Equity Note [Abstract] | |
| Shareholders' Equity | SHAREHOLDERS’ EQUITY The Board of Directors of RenaissanceRe declared, and RenaissanceRe paid, a dividend of $0.27 per common share to shareholders of record on March 15, 2012. 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 the three months ended March 31, 2012, the Company repurchased 51 thousand shares in open market transactions, at an aggregate cost of $3.6 million, and at an average share price of $71.81. On February 22, 2012, the Company approved an increase in its authorized share repurchase program to an aggregate amount of $500.0 million. At March 31, 2012, $500.0 million remained available for repurchase under the Board authorized share repurchase program. See "Part II, Item 2 - Unregistered Sales of Equity Securities and use of Proceeds" for additional information. In December 2006, the Company raised $300.0 million through the issuance of 12 million Series D Preference Shares at $25 per share and in March 2004, the Company raised $250.0 million through the issuance of 10 million Series C 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. 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 the three months ended March 31, 2012, the Company declared and paid $8.8 million in preference share dividends (2011 – $8.8 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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Mar. 31, 2012
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| Earnings Per Share | EARNINGS PER SHARE The Company accounts for its earnings per share 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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Segment Reporting
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Mar. 31, 2012
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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 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:
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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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Derivative Instruments
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Mar. 31, 2012
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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 March 31, 2012. 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 March 31, 2012, the Company had $385.3 million of notional long positions and $215.1 million of notional short positions of primarily Eurodollar, U.S. treasury and non-U.S. dollar futures contracts (December 31, 2011 – $3.2 billion and $285.7 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 March 31, 2012, the Company had outstanding underwriting related foreign currency contracts of $236.6 million in notional long positions and $575.5 million notional in short positions, denominated in U.S. dollars (December 31, 2011 – $160.5 million and $700.8 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) gains 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 March 31, 2012, the Company had outstanding investment portfolio related foreign currency contracts of $126.3 million in notional long positions and $217.6 million in notional short positions, denominated in U.S. dollars (December 31, 2011 – $48.1 million and $211.6 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 March 31, 2012, the Company’s energy and risk operations had foreign currency contracts of $21.2 million in notional long positions and $13.3 million in notional short positions (December 31, 2011 – $7.8 million and $12.7 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 March 31, 2012, the Company had outstanding credit derivatives of $15.0 million in notional long positions and $23.8 million in notional short positions, denominated in U.S. dollars (December 31, 2011 – $15.0 million and $38.1 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. As of the dates set forth below, the Company had the following gross derivative contract positions outstanding relating to its energy and weather derivatives trading activities.
The Company uses, among other things, value-at-risk (“VaR”) analysis to monitor the risks associated with its energy and weather derivatives trading portfolio. VaR is a tool that measures the potential loss that could occur if the Company's trading positions were maintained over a defined period of time, calculated at a given statistical confidence level. Due to the seasonal nature of the Company's energy and weather derivatives trading activities, the VaR is based on a rolling two season (one-year) holding period assuming no dynamic trading during the holding period. A 99% confidence level is used for the VaR analysis. A 99% confidence level implies that within a one-year period, the potential loss in the Company's portfolio is not expected to exceed the VaR estimate in 99% of the possible modeled outcomes. In the remaining estimated 1% of the possible outcomes, the anticipated potential loss is expected to be higher than the VaR figure, and on average substantially higher. The VaR model, based on a Monte Carlo simulation methodology, seeks to take into account correlations between different positions and potential for movements to offset one another within the portfolio. The expected value of the risk factors in the Company's portfolio is generally obtained from exchange-traded futures markets. For most of the risk factors, the volatility is derived from exchange-traded options markets. For those risk factors for which exchange-traded options might not exist, the volatility is based on historical analysis matched to broker quotes from the over-the-counter market, where available. The joint distribution of outcomes is based on our estimate of the historical seasonal dependence among the underlying risk factors, scaled to the current market levels. The Company then estimates the expected outcomes by applying a Monte Carlo simulation to these risk factors. The joint distribution of the simulated risk factors is then filtered through the portfolio positions, and then the distribution of the outcomes is realized. The 99th percentile of this distribution is then calculated as the portfolio VaR. The major limitation of this methodology is that the market data used to forecast parameters of the model may not be an appropriate proxy of those parameters. The VaR methodology uses a number of assumptions, such as (i) risks are measured under average market conditions, assuming normal distribution of market risk factors, (ii) future movements in market risk factors follow estimated historical movements, and (iii) the assessed exposures do not change during the holding period. There is no guarantee that these assumptions will prove correct. The Company expects that, for any given period, its actual results will differ from its assumptions, including with respect to previously estimated potential losses and that such losses could be substantially higher than the estimated VaR. At March 31, 2012, the estimated VaR for the Company's portfolio of energy and weather-related derivatives, as described above, calculated at an estimated 99% confidence level, was $13.6 million. The average, low and high amounts calculated by the Company's VaR analysis during the three months ended March 31, 2012 were $28.6 million, $13.0 million and $49.3 million, respectively. At March 31, 2012, RenaissanceRe had provided guarantees in the aggregate amount of $361.0 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 income during the three months ended March 31, 2011. |
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- Definition
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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Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries
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Mar. 31, 2012
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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 March 31, 2012 and December 31, 2011, condensed consolidating statements of operations for the three months ended March 31, 2012 and 2011, and condensed consolidating statements of cash flows for the three months ended March 31, 2012 and 2011, 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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Litigation
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3 Months Ended |
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Mar. 31, 2012
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| Commitments and Contingencies Disclosure [Abstract] | |
| Litigation | COMMITMENTS AND CONTINGENCIES There are no material changes from the commitments and contingencies previously disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2011. 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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- Definition
The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Significant Accounting Policies (Policy)
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Mar. 31, 2012
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| Accounting Policies [Abstract] | |||||||||||||
| Basis of Presentation | The consolidated financial statements have been prepared on the basis of accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these unaudited consolidated financial statements reflect all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the Company's financial position and results of operations as at the end of and for the periods presented. All significant intercompany accounts and transactions have been eliminated from these statements. 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 comparative information has been reclassified to conform to the current presentation. Because of the seasonality of the Company's business, the results of operations and cash flows for any interim period will not necessarily be indicative of the results of operations and cash flows for the full fiscal year or subsequent quarters. |
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| 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 deferred tax valuation allowance. |
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| Earnings Per Share | The Company accounts for its earnings per share 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. |
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| Recently Adopted Accounting Pronouncements | RECENTLY ADOPTED 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 became effective for fiscal periods beginning on or after December 15, 2011, and as a result, the Company adopted ASU 2010-26 effective January 1, 2012. The adoption of ASU 2010-26 did not have a material impact on the Company's 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 became effective for fiscal years, and interim periods within those years, beginning after December 15, 2011 and as a result, the Company adopted ASU 2011-04 effective January 1, 2012. The adoption of ASU 2011-04 did not have a material impact on the Company's consolidated statements of operations and financial condition. The additional disclosures required by ASU 2011-04 have been provided in "Note 5. Fair Value Measurements" of the Company's Notes to Consolidated Financial Statements. Presentation of Comprehensive Income In June 2011, the FASB issued ASU No. 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 became effective for fiscal years, and interim periods within those years, beginning after December 15, 2011, with retroactive application required. The Company adopted ASU 2010-26 effective January 1, 2012 and it did not have a material impact on the Company's consolidated statements of operations and financial condition. |
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| Fair Value | 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, or Level 2 and Level 3, respectively, during the period represented by these consolidated financial statements. |
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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 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 determining the fair value of financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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Investments (Tables)
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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 (losses) 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:
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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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- 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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| X | ||||||||||
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- Details
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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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- 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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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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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:
(1) See "Note 11. Derivative Instruments" for additional information related to the fair value by type of contract, of derivatives entered into by the Company.
(1) See "Note 11. 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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| Schedule Of Quantitative Information Used As Level 3 Inputs | Below is a summary of quantitative information regarding the significant observable and unobservable inputs (Level 3) used in determining the fair value of assets and liabilities measured at fair value on a recurring basis:
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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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- 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 fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) 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 or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), 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); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. 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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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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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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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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Noncontrolling Interests (Tables)
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Mar. 31, 2012
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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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Schedule Of Minority Interest [Table Text Block] No definition available.
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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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Earnings Per Share (Tables)
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Mar. 31, 2012
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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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Tabular disclosure of an entity's basic and diluted earnings per share calculations. No definition available.
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Segment Reporting (Tables)
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Mar. 31, 2012
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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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| 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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Derivative Instruments (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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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 | As of the dates set forth below, 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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Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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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 Consolidated Statement of Other Comprehensive Income (Loss) |
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| Condensed Consolidating Statement Of Cash Flows |
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Schedule of Condensed Consolidated Statement of Other Comprehensive Income (Loss) [Table Text Block] No definition available.
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| X | ||||||||||
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- 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.
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| X | ||||||||||
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- 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 | ||||||||||
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- 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.
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Discontinued Operations (Details) (USD $)
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0 Months Ended | 3 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|---|
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Mar. 04, 2011
|
Mar. 31, 2012
|
Mar. 31, 2011
|
Dec. 31, 2011
U.S.-based Insurance Operations, Held-for-sale [Member]
Reserve Collar [Member]
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Dec. 31, 2011
U.S.-based Insurance Operations, Held-for-sale [Member]
Reserve Collar [Member]
Potential Payables, Adverse Development on Net Claims and Claim Expenses, Prior Accident Years, Maximum [Member]
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Dec. 31, 2011
U.S.-based Insurance Operations, Held-for-sale [Member]
Reserve Collar [Member]
Potential Receivables, Favorable Development on Net Claims and Claim Expenses, Prior Accident Years, Maximum [Member]
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| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
| Net consideration | $ 269,500,000 | $ 0 | $ 269,520,000 | |||
| 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 | |||||
| X | ||||||||||
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- 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
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
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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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Investments (Narrative) (Details) (USD $)
|
3 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|||||
| Investment [Line Items] | ||||||
| Cash and investments at fair value on deposit with, or in trust accounts for the benefit of various counterparties | $ 1,252,100,000 | |||||
| Cash and investments at fair value on deposit with, or in trust accounts for the benefit of, U.S. state regulatory authorities | 483,000,000 | |||||
| Portion of other-than-temporary impairments recognized in other comprehensive income | 27,000 | [1] | 0 | [1] | ||
| Net other-than-temporary impairments recognized in earnings | 134,000 | 0 | ||||
|
Recognized Due To Intent To Sell Securities [Member]
|
||||||
| Investment [Line Items] | ||||||
| Portion of other-than-temporary impairments recognized in other comprehensive income | 0 | 0 | ||||
|
Recognized Due To Required Sales Of Securities [Member]
|
||||||
| Investment [Line Items] | ||||||
| Portion of other-than-temporary impairments recognized in other comprehensive income | $ 0 | $ 0 | ||||
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||||||
| X | ||||||||||
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- Details
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
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| 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 | ||||||||||
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- 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 |
Mar. 31, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | $ 4,176,827 | $ 4,291,465 |
|
U.S. treasuries [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 1,309,243 | 885,152 |
|
Agencies [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 343,575 | 158,561 |
|
Non-U.S. government (Sovereign Debt) [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 122,875 | 216,916 |
|
FDIC guaranteed corporate [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 103,554 | 423,630 |
|
Non-U.S. government-backed corporate [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 500,835 | 640,757 |
|
Corporate [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 1,131,255 | 1,187,437 |
|
Agency mortgage-backed [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 307,134 | 428,042 |
|
Non-agency mortgage-backed [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 85,095 | 82,096 |
|
Commercial mortgage-backed [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | 267,250 | 255,885 |
|
Asset-backed [Member]
|
||
| Investment [Line Items] | ||
| Fixed maturity investments trading, fair value | $ 6,011 | $ 12,989 |
| X | ||||||||||
|
- Details
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| 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 |
Mar. 31, 2012
|
Dec. 31, 2011
|
||||
|---|---|---|---|---|---|---|
| Amortized Cost | $ 113,131 | $ 130,699 | ||||
| Available for Sale, Fair Value | 125,292 | 142,052 | ||||
|
Fixed Maturity Investments [Member]
|
||||||
| Amortized Cost | 113,131 | 130,669 | ||||
| Gross Unrealized Gains | 12,438 | 12,197 | ||||
| Gross Unrealized Losses | (277) | (814) | ||||
| Available for Sale, Fair Value | 125,292 | 142,052 | ||||
| Non-Credit Other-Than-Temporary Impairments | (1,949) | [1] | (2,013) | [1] | ||
|
Non-U.S. Government (Sovereign Debt) [Member]
|
||||||
| Amortized Cost | 7,448 | 10,087 | ||||
| Gross Unrealized Gains | 578 | 921 | ||||
| Gross Unrealized Losses | (2) | (12) | ||||
| Available for Sale, Fair Value | 8,024 | 10,996 | ||||
| Non-Credit Other-Than-Temporary Impairments | 0 | [1] | 0 | [1] | ||
|
Non-U.S. Government Backed-Corporate [Member]
|
||||||
| Amortized Cost | 310 | 312 | ||||
| Gross Unrealized Gains | 15 | 13 | ||||
| Gross Unrealized Losses | 0 | 0 | ||||
| Available for Sale, Fair Value | 325 | 325 | ||||
| Non-Credit Other-Than-Temporary Impairments | 0 | [1] | 0 | [1] | ||
|
Corporate [Member]
|
||||||
| Amortized Cost | 13,923 | 18,449 | ||||
| Gross Unrealized Gains | 1,276 | 1,535 | ||||
| Gross Unrealized Losses | (243) | (517) | ||||
| Available for Sale, Fair Value | 14,956 | 19,467 | ||||
| Non-Credit Other-Than-Temporary Impairments | (165) | [1] | (176) | [1] | ||
|
Agency mortgage-backed [Member]
|
||||||
| Amortized Cost | 11,135 | 12,636 | ||||
| Gross Unrealized Gains | 946 | 1,071 | ||||
| Gross Unrealized Losses | 0 | 0 | ||||
| Available for Sale, Fair Value | 12,081 | 13,707 | ||||
| Non-Credit Other-Than-Temporary Impairments | 0 | [1] | 0 | [1] | ||
|
Non-agency mortgage-backed [Member]
|
||||||
| Amortized Cost | 20,319 | 21,097 | ||||
| Gross Unrealized Gains | 2,665 | 1,862 | ||||
| Gross Unrealized Losses | (32) | (284) | ||||
| Available for Sale, Fair Value | 22,952 | 22,675 | ||||
| Non-Credit Other-Than-Temporary Impairments | (1,784) | [1] | (1,837) | [1] | ||
|
Commercial mortgage-backed [Member]
|
||||||
| Amortized Cost | 55,346 | 63,269 | ||||
| Gross Unrealized Gains | 6,747 | 6,576 | ||||
| Gross Unrealized Losses | 0 | (1) | ||||
| Available for Sale, Fair Value | 62,093 | 69,844 | ||||
| Non-Credit Other-Than-Temporary Impairments | 0 | [1] | 0 | [1] | ||
|
Asset-backed [Member]
|
||||||
| Amortized Cost | 4,650 | 4,819 | ||||
| Gross Unrealized Gains | 211 | 219 | ||||
| Gross Unrealized Losses | 0 | 0 | ||||
| Available for Sale, Fair Value | 4,861 | 5,038 | ||||
| Non-Credit Other-Than-Temporary Impairments | $ 0 | [1] | $ 0 | [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 |
Mar. 31, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Investment Holdings [Line Items] | ||
| Trading, Amortized Cost, Due in less than one year | $ 385,039 | |
| Trading, Amortized Cost, Due after one through five years | 2,348,627 | |
| Trading, Amortized Cost, Due after five through ten years | 619,557 | |
| Trading, Amortized Cost, Due after ten years | 120,767 | |
| Trading, Amortized Cost | 4,129,942 | |
| Trading, Fair Value, Due in less than one year | 385,831 | |
| Trading, Fair Value, Due after one through five years | 2,357,996 | |
| Trading, Fair Value, Due after five through ten years | 636,756 | |
| Trading, Fair Value, Due after ten years | 130,754 | |
| Trading, Fair Value | 4,176,827 | 4,291,465 |
| Available for Sale, Amortized Cost, Due in less than one year | 437 | |
| Available for Sale, Amortized Cost, Due after one through five years | 8,861 | |
| Available for Sale, Amortized Cost, Due after five through ten years | 8,658 | |
| Available for Sale, Amortized Cost, Due after ten years | 3,725 | |
| Available for Sale, Amortized Cost | 113,131 | 130,699 |
| Available for Sale, Fair Value, Due in less than one year | 428 | |
| Available for Sale, Fair Value, Due after one through five years | 9,348 | |
| Available for Sale, Fair Value, Due after five through ten years | 9,335 | |
| Available for Sale, Fair Value, Due after ten years | 4,194 | |
| Available for Sale, Fair Value | 125,292 | 142,052 |
| Debt Securities, Amortized Cost, Due in less than one year | 385,476 | |
| Debt Securities, Amortized Cost, Due after one through five years | 2,357,488 | |
| Debt Securities, Amortized Cost, Due after five through ten years | 628,215 | |
| Debt Securities, Amortized Cost, Due after ten years | 124,492 | |
| Debt Securities, Amortized Cost | 4,243,073 | |
| Debt Securities, Fair Value, Due in less than one year | 386,259 | |
| Debt Securities, Fair Value, Due after one through give years | 2,367,344 | |
| Debt Securities, Fair Value, Due after five through ten years | 646,091 | |
| Debt Securities, Fair Value, Due after ten years | 134,948 | |
| Debt Securities, Fair Value | 4,302,119 | |
|
Mortgage-backed [Member]
|
||
| Investment Holdings [Line Items] | ||
| Trading, Amortized Cost | 649,942 | |
| Trading, Fair Value | 659,479 | |
| Available for Sale, Amortized Cost | 86,800 | |
| Available for Sale, Fair Value | 97,126 | |
| Debt Securities, Amortized Cost | 736,742 | |
| Debt Securities, Fair Value | 756,605 | |
|
Asset-backed [Member]
|
||
| Investment Holdings [Line Items] | ||
| Trading, Amortized Cost | 6,010 | |
| Trading, Fair Value | 6,011 | |
| Available for Sale, Amortized Cost | 4,650 | |
| Available for Sale, Fair Value | 4,861 | |
| Debt Securities, Amortized Cost | 10,660 | |
| Debt Securities, Fair Value | $ 10,872 |
| 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 |
Mar. 31, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Investments [Abstract] | ||
| Equity investments trading | $ 53,080 | $ 50,560 |
| 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 | |
|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|
| Investment income before investment expenses | $ 69,672 | $ 62,897 |
| Investment expenses | (2,701) | (2,616) |
| Net investment income | 66,971 | 60,281 |
|
Fixed Maturity Investments [Member]
|
||
| Investment income before investment expenses | 26,333 | 27,913 |
|
Short-Term Investments [Member]
|
||
| Investment income before investment expenses | 500 | 595 |
|
Equity Investments [Member]
|
||
| Investment income before investment expenses | 170 | 14 |
|
Other Investments, Hedge Funds And Private Equity Investments [Member]
|
||
| Investment income before investment expenses | 28,473 | 23,507 |
|
Other Investments, Other [Member]
|
||
| Investment income before investment expenses | 14,170 | 10,827 |
|
Cash And Cash Equivalents [Member]
|
||
| Investment income before investment expenses | $ 26 | $ 41 |
| 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 | |||||
|---|---|---|---|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|||||
| Gain (Loss) on Investments [Line Items] | ||||||
| Net realized and unrealized gains (losses) on investments | $ 46,113 | $ (5,214) | ||||
| Total other-than-temporary impairments | (161) | 0 | ||||
| Portion recognized in other comprehensive income, before taxes | 27 | [1] | 0 | [1] | ||
| Net other-than-temporary impairments | (134) | 0 | ||||
|
Fixed Maturity Investments [Member]
|
||||||
| Gain (Loss) on Investments [Line Items] | ||||||
| Gross realized gains | 36,286 | 10,562 | ||||
| Gross realized losses | (6,950) | (12,617) | ||||
| Net realized gains (losses) on fixed maturity investments | 29,336 | (2,055) | ||||
| Net unrealized gains (losses) on investments trading | 14,257 | (3,758) | ||||
|
Equity Securities [Member]
|
||||||
| Gain (Loss) on Investments [Line Items] | ||||||
| Net unrealized gains (losses) on investments trading | $ 2,520 | $ 599 | ||||
|
||||||
| 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 |
Mar. 31, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Available For Sale Securities, Continuous Unrealized Loss Position, Twelve Months Or Longer | 15 | |
|
Fixed Maturity Investments [Member]
|
||
| Less than 12 Months, Fair Value | $ 2,633 | $ 12,874 |
| Less than 12 Months, Unrealized Losses | (109) | (618) |
| 12 Months or Greater, Fair Value | 1,326 | 1,707 |
| 12 Months or Greater, Unrealized Losses | (168) | (196) |
| Total, Fair Value | 3,959 | 14,581 |
| Total, Unrealized Losses | (277) | (814) |
|
Non-U.S. government (Sovereign Debt) [Member]
|
||
| Less than 12 Months, Fair Value | 240 | 915 |
| Less than 12 Months, Unrealized Losses | (2) | (9) |
| 12 Months or Greater, Fair Value | 0 | 42 |
| 12 Months or Greater, Unrealized Losses | 0 | (3) |
| Total, Fair Value | 240 | 957 |
| Total, Unrealized Losses | (2) | (12) |
|
Corporate [Member]
|
||
| Less than 12 Months, Fair Value | 1,838 | 3,935 |
| Less than 12 Months, Unrealized Losses | (101) | (385) |
| 12 Months or Greater, Fair Value | 513 | 412 |
| 12 Months or Greater, Unrealized Losses | (142) | (132) |
| Total, Fair Value | 2,351 | 4,347 |
| Total, Unrealized Losses | (243) | (517) |
|
Non-agency mortgage-backed [Member]
|
||
| Less than 12 Months, Fair Value | 555 | 8,024 |
| Less than 12 Months, Unrealized Losses | (6) | (224) |
| 12 Months or Greater, Fair Value | 813 | 798 |
| 12 Months or Greater, Unrealized Losses | (26) | (60) |
| Total, Fair Value | 1,368 | 8,822 |
| Total, Unrealized Losses | (32) | (284) |
|
Commercial mortgage-backed [Member]
|
||
| Less than 12 Months, Fair Value | 0 | |
| Less than 12 Months, Unrealized Losses | 0 | |
| 12 Months or Greater, Fair Value | 455 | |
| 12 Months or Greater, Unrealized Losses | (1) | |
| Total, Fair Value | 455 | |
| Total, Unrealized Losses | $ (1) |
| 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 |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|
| Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
| Balance, beginning | $ 564 | $ 3,098 |
| Additions: | ||
| Amount related to credit loss for which an other-than-temporary impairment was not previously recognized | 0 | 0 |
| Amount related to credit loss for which an other-than-temporary impairment was previously recognized | 9 | 0 |
| Reductions: | ||
| Securities sold during the period | (53) | (223) |
| 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 | $ 520 | $ 2,875 |
| 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
|
|
Fair Value Measurements (Narrative) (Details) (USD $)
|
3 Months Ended | 3 Months Ended | 0 Months Ended | 0 Months Ended | 3 Months Ended | |||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
Dec. 31, 2011
|
Mar. 31, 2012
Other Investments [Member]
Investment Income, Net [Member]
|
Mar. 31, 2011
Other Investments [Member]
Investment Income, Net [Member]
|
Mar. 31, 2012
Other Assets and Liabilities [Member]
Other (Loss) Income [Member]
|
Mar. 31, 2011
Other Assets and Liabilities [Member]
Other (Loss) Income [Member]
|
Jan. 03, 2003
5.875% Senior Notes Due February 15, 2013 [Member]
|
Mar. 31, 2012
5.875% Senior Notes Due February 15, 2013 [Member]
|
Dec. 31, 2011
5.875% Senior Notes Due February 15, 2013 [Member]
|
Mar. 17, 2010
5.75% Senior Notes Due March 15, 2020 [Member]
RenRe North America Holdings Inc. [Member]
|
Mar. 31, 2012
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]
|
Mar. 31, 2012
U.S. treasuries [Member]
|
Dec. 31, 2011
U.S. treasuries [Member]
|
Mar. 31, 2012
Agencies [Member]
|
Dec. 31, 2011
Agencies [Member]
|
Mar. 31, 2012
Non-U.S. government (Sovereign Debt) [Member]
|
Dec. 31, 2011
Non-U.S. government (Sovereign Debt) [Member]
|
Mar. 31, 2012
FDIC guaranteed corporate [Member]
|
Dec. 31, 2011
FDIC guaranteed corporate [Member]
|
Mar. 31, 2012
Non-U.S. government-backed corporate [Member]
|
Dec. 31, 2011
Non-U.S. government-backed corporate [Member]
|
Mar. 31, 2012
Corporate [Member]
|
Dec. 31, 2011
Corporate [Member]
|
Mar. 31, 2012
Agency mortgage-backed [Member]
years
|
Dec. 31, 2011
Agency mortgage-backed [Member]
years
|
Mar. 31, 2012
Non-agency prime residential mortgage-backed [Member]
years
|
Dec. 31, 2011
Non-agency prime residential mortgage-backed [Member]
years
|
Mar. 31, 2012
AltA non-agency mortgage-backed [Member]
years
|
Dec. 31, 2011
AltA non-agency mortgage-backed [Member]
years
|
Mar. 31, 2012
Commercial mortgage-backed [Member]
years
|
Dec. 31, 2011
Commercial mortgage-backed [Member]
years
|
Mar. 31, 2012
Asset-backed [Member]
years
|
Dec. 31, 2011
Asset-backed [Member]
years
|
Mar. 31, 2012
Private equity partnerships [Member]
|
Mar. 31, 2012
Senior secured bank loan funds [Member]
|
Mar. 31, 2012
Non-U.S. fixed income funds [Member]
|
Mar. 31, 2012
Hedge funds [Member]
|
Mar. 31, 2012
Other [Member]
|
Dec. 31, 2011
Other [Member]
|
Mar. 31, 2012
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
Dec. 31, 2011
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
Mar. 31, 2012
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Other [Member]
|
Dec. 31, 2011
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Other [Member]
|
Mar. 31, 2012
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Cash Settled Restricted Stock Unit [Member]
|
|
| Weighted average effective yield | 0.60% | 0.60% | 0.70% | 0.50% | 2.90% | 2.30% | 0.20% | 0.30% | 1.30% | 1.40% | 3.70% | 4.20% | 1.40% | 1.50% | 6.40% | 8.00% | 6.70% | 9.10% | 2.70% | 3.20% | 0.50% | 0.90% | ||||||||||||||||||||||||
| Weighted average life | 2.6 | 2.6 | 3.5 | 3.3 | 3.9 | 3.8 | 3.9 | 4.2 | 1.2 | 1.8 | ||||||||||||||||||||||||||||||||||||
| Investment in closed end fund | $ 21,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
| 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 | 103,500,000 | 103,400,000 | 262,000,000 | 263,000,000 | ||||||||||||||||||||||||||||||||||||||||||
| Debt instrument, Face amount | 250,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
| Net unrealized gains (losses) recognized in earnings | 36,061,000 | 28,067,000 | 35,300,000 | 28,100,000 | (2,100,000) | (42,700,000) | ||||||||||||||||||||||||||||||||||||||||
| Investments redeemable in part, on a monthly basis, or in whole over a three month period | 245,100,000 | |||||||||||||||||||||||||||||||||||||||||||||
| Assets and (liabilities) at fair value | 53,504,000 | 16,071,000 | 13,936,000 | 10,644,000 | (1,068,000) | (6,162,000) | (1,481,000) | (6,869,000) | (1,500,000) | |||||||||||||||||||||||||||||||||||||
| 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 | 709,615,000 | 389,451,000 | 266,141,000 | 31,713,000 | 22,310,000 | |||||||||||||||||||||||||||||||||||||||||
| Hedge fund side pocket investments | $ 6,700,000 | |||||||||||||||||||||||||||||||||||||||||||||
| 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
Total Other Assets And liabilities Measured on Recurring Basis 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
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 |
Mar. 31, 2012
|
Dec. 31, 2011
|
||||
|---|---|---|---|---|---|---|
| Total fixed maturity investments | $ 4,302,119 | $ 4,433,517 | ||||
| Short-term investments | 1,172,839 | 905,477 | ||||
| Equity investments trading | 53,080 | 50,560 | ||||
| Other investments | 806,782 | 748,984 | ||||
| Total other assets and (liabilities) | 53,504 | 16,071 | ||||
| Total assets and liabilities measured on recurring basis | 6,388,324 | 6,154,609 | ||||
|
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total fixed maturity investments | 1,309,243 | 885,152 | ||||
| Short-term investments | 0 | 0 | ||||
| Equity investments trading | 53,080 | 50,560 | ||||
| Other investments | 0 | 0 | ||||
| Total other assets and (liabilities) | (1,068) | (6,162) | ||||
| Total assets and liabilities measured on recurring basis | 1,361,255 | 929,550 | ||||
|
Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total fixed maturity investments | 2,965,038 | 3,520,604 | ||||
| Short-term investments | 1,172,839 | 905,477 | ||||
| Equity investments trading | 0 | 0 | ||||
| Other investments | 388,245 | 352,458 | ||||
| Total other assets and (liabilities) | 6,427 | (6,293) | ||||
| Total assets and liabilities measured on recurring basis | 4,532,549 | 4,772,246 | ||||
|
Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 27,838 | 27,761 | ||||
| Short-term investments | 0 | 0 | ||||
| Equity investments trading | 0 | 0 | ||||
| Other investments | 418,537 | 396,526 | ||||
| Total other assets and (liabilities) | 48,145 | 28,526 | ||||
| Total assets and liabilities measured on recurring basis | 494,520 | 452,813 | ||||
|
U.S. treasuries [Member]
|
||||||
| Total fixed maturity investments | 1,309,243 | 885,152 | ||||
|
U.S. treasuries [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total fixed maturity investments | 1,309,243 | 885,152 | ||||
|
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 | 343,575 | 158,561 | ||||
|
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 | 343,575 | 158,561 | ||||
|
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 | 130,899 | 227,912 | ||||
|
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 | 130,899 | 227,912 | ||||
|
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 | 103,554 | 423,630 | ||||
|
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 | 103,554 | 423,630 | ||||
|
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 | 501,160 | 641,082 | ||||
|
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 | 501,160 | 641,082 | ||||
|
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 | 1,146,211 | 1,206,904 | ||||
|
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 | 1,118,373 | 1,179,143 | ||||
|
Corporate [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 27,838 | 27,761 | ||||
|
Agency mortgage-backed [Member]
|
||||||
| Total fixed maturity investments | 319,215 | 441,749 | ||||
|
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 | 319,215 | 441,749 | ||||
|
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 | 108,047 | 104,771 | ||||
|
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 | 108,047 | 104,771 | ||||
|
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 | 329,343 | 325,729 | ||||
|
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 | 329,343 | 325,729 | ||||
|
Commercial mortgage-backed [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Asset-backed [Member]
|
||||||
| Total fixed maturity investments | 10,872 | 18,027 | ||||
|
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 | 10,872 | 18,027 | ||||
|
Asset-backed [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total fixed maturity investments | 0 | 0 | ||||
|
Private equity partnerships [Member]
|
||||||
| Other investments | 389,451 | 367,909 | ||||
|
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 | 389,451 | 367,909 | ||||
|
Senior secured bank loan funds [Member]
|
||||||
| Other investments | 266,141 | 257,870 | ||||
|
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 | 245,141 | 237,815 | ||||
|
Senior secured bank loan funds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Other investments | 21,000 | 20,055 | ||||
|
Catastrophe bonds [Member]
|
||||||
| Other investments | 95,827 | 70,999 | ||||
|
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 | 95,827 | 70,999 | ||||
|
Catastrophe bonds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Other investments | 0 | 0 | ||||
|
Non-U.S. fixed income funds [Member]
|
||||||
| Other investments | 31,713 | 28,862 | ||||
|
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 | 31,713 | 28,862 | ||||
|
Non-U.S. fixed income funds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Other investments | 0 | 0 | ||||
|
Hedge Funds [Member]
|
||||||
| Other investments | 22,310 | 21,344 | ||||
|
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 | 15,564 | 14,782 | ||||
|
Hedge Funds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Other investments | 6,746 | 6,562 | ||||
|
Miscellaneous other investments [Member]
|
||||||
| Other investments | 1,340 | 2,000 | ||||
|
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 | 0 | ||||
|
Miscellaneous other investments [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Other investments | 1,340 | 2,000 | ||||
|
Assumed and ceded reinsurance contracts [Member]
|
||||||
| Total other assets and (liabilities) | 6,163 | 2,115 | ||||
|
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) | 6,163 | 2,115 | ||||
|
Derivatives [Member]
|
||||||
| Total other assets and (liabilities) | 33,405 | [1] | 3,312 | [1] | ||
|
Derivatives [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total other assets and (liabilities) | 413 | 707 | [1] | |||
|
Derivatives [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Total other assets and (liabilities) | 6,427 | (6,293) | [1] | |||
|
Derivatives [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Total other assets and (liabilities) | 26,565 | 8,898 | [1] | |||
|
Other [Member]
|
||||||
| Total other assets and (liabilities) | 13,936 | 10,644 | ||||
|
Other [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Total other assets and (liabilities) | (1,481) | (6,869) | ||||
|
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) | $ 15,417 | $ 17,513 | ||||
|
||||||
| 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
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 Fair Value Measurements (Quantitative Information Used As Level 3 Inputs) (Details) (USD $)
|
3 Months Ended | ||
|---|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
Dec. 31, 2011
|
|
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Net premiums written | $ 492,575,000 | $ 452,575,000 | |
| Net reserve for claims and claim expenses | 1,858,203,000 | 1,992,354,000 | |
|
Senior secured bank loan funds [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Investment in closed end fund | 21,000,000 | ||
|
Significant Unobservable Inputs (Level 3) [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Assets, fair value | 494,520,000 | ||
| Other assets and (liabilities). fair value | 48,145,000 | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Corporate [Member] | Discounted Cash Flow Valuation Technique [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Assets, fair value | 17,584,000 | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Corporate [Member] | Discounted Cash Flow Valuation Technique [Member] | Weighted Average or Actual [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Credit spread | 4.10% | ||
| Illiquidity premium | 1.00% | ||
| Risk-free rate | 0.20% | ||
| Dividend rate | 5.90% | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Corporate [Member] | Internal Valuation Model Valuation Technique [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Assets, fair value | 10,254,000 | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Fixed Maturity Investments [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Assets, fair value | 27,838,000 | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Private Equity Funds [Member] | Net Asset Valuation Technique [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Assets, fair value | 389,451,000 | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Private Equity Funds [Member] | Net Asset Valuation Technique [Member] | Minimum [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Estimated performance | (6.00%) | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Private Equity Funds [Member] | Net Asset Valuation Technique [Member] | Maximum [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Estimated performance | 64.40% | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Private Equity Funds [Member] | Net Asset Valuation Technique [Member] | Weighted Average or Actual [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Estimated performance | 8.40% | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Senior secured bank loan funds [Member] | Net Asset Valuation Technique [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Assets, fair value | 21,000,000 | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Senior secured bank loan funds [Member] | Net Asset Valuation Technique [Member] | Weighted Average or Actual [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Estimated performance | 2.10% | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Hedge funds [Member] | Net Asset Valuation Technique [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Assets, fair value | 6,746,000 | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Hedge funds [Member] | Net Asset Valuation Technique [Member] | Minimum [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Estimated performance | 0.00% | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Hedge funds [Member] | Net Asset Valuation Technique [Member] | Maximum [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Estimated performance | 0.70% | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Hedge funds [Member] | Net Asset Valuation Technique [Member] | Weighted Average or Actual [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Estimated performance | 0.20% | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Miscellaneous other investments [Member] | Discounted Cash Flow Valuation Technique [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Assets, fair value | 1,340,000 | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Miscellaneous other investments [Member] | Discounted Cash Flow Valuation Technique [Member] | Weighted Average or Actual [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Credit spread | 7.50% | ||
| Illiquidity premium | 1.00% | ||
| Risk-free rate | 0.50% | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Other Investments [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Assets, fair value | 418,537,000 | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Assumed And Ceded Re Insurance Contracts Member | Internal Valuation Model Valuation Technique [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Other assets and (liabilities). fair value | 6,163,000 | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Assumed And Ceded Re Insurance Contracts Member | Internal Valuation Model Valuation Technique [Member] | Minimum [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Net premiums written | 0 | ||
| Contract period | 183 days | ||
| Net reserve for claims and claim expenses | 0 | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Assumed And Ceded Re Insurance Contracts Member | Internal Valuation Model Valuation Technique [Member] | Maximum [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Net premiums written | 6,000,000 | ||
| Contract period | 365 days | ||
| Net reserve for claims and claim expenses | 0 | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Energy And Weather Contracts [Member] | Spread Option, Quanto, Black Scholes and Simulation Valuation Techniques [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Other assets and (liabilities). fair value | 26,565,000 | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Energy And Weather Contracts [Member] | Spread Option, Quanto, Black Scholes and Simulation Valuation Techniques [Member] | Minimum [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Correlation | 0.00% | ||
| Volatility | 7.00% | ||
| Commodity curve | 1.77 | ||
| Weather curve | 19,000 | ||
| Counterparty default risk | 0.00% | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Energy And Weather Contracts [Member] | Spread Option, Quanto, Black Scholes and Simulation Valuation Techniques [Member] | Maximum [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Correlation | 100.00% | ||
| Volatility | 350.00% | ||
| Commodity curve | 66 | ||
| Weather curve | 5,000,000 | ||
| Counterparty default risk | 22.50% | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Other [Member] | Internal Valuation Model Valuation Technique [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Other assets and (liabilities). fair value | 1,250,000 | ||
|
Significant Unobservable Inputs (Level 3) [Member] | Other [Member] | Net Asset Valuation Technique [Member]
|
|||
| Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
| Other assets and (liabilities). fair value | $ 14,167,000 | ||
| X | ||||||||||
|
- Definition
Assets (Liabilities), Fair Value Disclosure, Recurring No definition available.
|
| X | ||||||||||
|
- Definition
Measure of dispersion, in percentage terms (for instance, the standard deviation or variance). No definition available.
|
| X | ||||||||||
|
- Definition
Expected dividends to be paid to holders of the underlying shares or financial instruments (expressed as a percentage of the share or instrument's price). No definition available.
|
| X | ||||||||||
|
- Definition
Risk-free interest rate assumption used in valuing an instrument. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair Value Inputs, Contract Period No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value Inputs, Correlation No definition available.
|
| X | ||||||||||
|
- Definition
Risk that one party to the contract will default expressed as a percentage, used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value Inputs, Degree Days Farenheit No definition available.
|
| X | ||||||||||
|
- Definition
Adjustment to the discount rate used to measure fair value for lack of ability to convert business interests into cash quickly. No definition available.
|
| X | ||||||||||
|
- Definition
Risk associated with risk of default, credit spread risk and downgrade risk, expressed as a percentage, used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Estimated percentage return for the period on fair value at beginning of period. No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value Inputs, Price Per Commodity 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 element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value on a recurring basis 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
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
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
|
|
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 |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance at beginning of the period | $ 452,813 | $ 400,386 |
| Total unrealized gains (losses) | ||
| Included in net investment income | 29,184 | 23,798 |
| Included in other income (loss) | 18,563 | 40,068 |
| Total realized gains | ||
| Included in net investment income | 0 | 0 |
| Included in other income (loss) | (55,308) | 10,955 |
| Total foreign exchange losses | 353 | 1,318 |
| Purchases | 21,970 | 19,096 |
| Sales | (13,431) | (4,160) |
| Settlements | 40,376 | (19,440) |
| Net transfers into Level 3 | 0 | 0 |
| Balance at end of the period | 494,520 | 472,021 |
| Change in unrealized gains (losses) for the period included in earnings for assets held at the end of the period included in net investment income | 29,184 | 23,798 |
| Change in unrealized gains (losses) for the period included in earnings for assets held at the end of the period included in other loss | 10,513 | 45,474 |
|
Fixed Maturity Investments, Trading [Member]
|
||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance at beginning of the period | 27,761 | 21,785 |
| Total unrealized gains (losses) | ||
| Included in net investment income | 77 | 41 |
| 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 | 0 |
| Sales | 0 | 0 |
| Settlements | 0 | 0 |
| Net transfers into Level 3 | 0 | 0 |
| Balance at end of the period | 27,838 | 21,826 |
| Change in unrealized gains (losses) for the period included in earnings for assets held at the end of the period included in net investment income | 77 | 41 |
| Change in unrealized gains (losses) for the period included in earnings for assets held at the end of the period included in other loss | 0 | 0 |
|
Other Investments [Member]
|
||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance at beginning of the period | 396,526 | 362,102 |
| Total unrealized gains (losses) | ||
| Included in net investment income | 29,107 | 23,757 |
| 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 | 730 | 1,369 |
| Purchases | 12,689 | 17,465 |
| Sales | 0 | 0 |
| Settlements | (20,515) | (22,878) |
| Net transfers into Level 3 | 0 | 0 |
| Balance at end of the period | 418,537 | 381,815 |
| Change in unrealized gains (losses) for the period included in earnings for assets held at the end of the period included in net investment income | 29,107 | 23,757 |
| Change in unrealized gains (losses) for the period included in earnings for assets held at the end of the period included in other loss | 0 | 0 |
|
Other Assets and (Liabilities) [Member]
|
||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance at beginning of the period | 28,526 | 16,499 |
| Total unrealized gains (losses) | ||
| Included in net investment income | 0 | 0 |
| Included in other income (loss) | 18,563 | 40,068 |
| Total realized gains | ||
| Included in net investment income | 0 | 0 |
| Included in other income (loss) | (55,308) | 10,955 |
| Total foreign exchange losses | (377) | (51) |
| Purchases | 9,281 | 1,631 |
| Sales | (13,431) | (4,160) |
| Settlements | 60,891 | 3,438 |
| Net transfers into Level 3 | 0 | 0 |
| Balance at end of the period | 48,145 | 68,380 |
| Change in unrealized gains (losses) for the period included in earnings for assets held at the end of the period included in net investment income | 0 | 0 |
| Change in unrealized gains (losses) for the period included in earnings for assets held at the end of the period included in other loss | $ 10,513 | $ 45,474 |
| 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. The fair value of which assets was or 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 other income. The fair value of which assets was or 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 realized 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). No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the amount of the total realized 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). 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 | ||||||||||
|
- 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 |
Mar. 31, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Fair Value Disclosures [Abstract] | ||
| Other investments | $ 806,782 | $ 748,984 |
| Other assets | $ 21,580 | $ 19,628 |
| X | ||||||||||
|
- Details
|
| 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 |
3 Months Ended |
|---|---|
|
Mar. 31, 2012
Days
|
|
| Fair Value | $ 709,615 |
| Unfunded Commitments | 105,235 |
|
Private equity partnerships [Member]
|
|
| Fair Value | 389,451 |
| Unfunded Commitments | 100,120 |
|
Senior secured bank loan funds [Member]
|
|
| Fair Value | 266,141 |
| Unfunded Commitments | 5,115 |
|
Non-U.S. fixed income funds [Member]
|
|
| Fair Value | 31,713 |
| Unfunded Commitments | 0 |
| Redemption Frequency | Bi-monthly |
| Redemption Notice Period, Minimum | 5 |
| Redemption Notice Period, Maximum | 20 |
|
Hedge funds [Member]
|
|
| Fair Value | 22,310 |
| 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 $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|
| Premiums written | ||
| Direct | $ 8,463 | $ 6,252 |
| Assumed | 655,688 | 604,253 |
| Ceded | (171,576) | (157,930) |
| Net premiums written | 492,575 | 452,575 |
| Premiums earned | ||
| Direct | 7,787 | 2,482 |
| Assumed | 357,286 | 394,535 |
| Ceded | (86,408) | (91,476) |
| Net premiums earned | 278,665 | 305,541 |
| Claims and claim expenses | ||
| Gross claims and claim expenses incurred | 15,282 | 863,323 |
| Claims and claim expenses recovered | 270 | (234,786) |
| Net claims and claim expenses incurred | $ 15,552 | $ 628,537 |
| 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 | ||||||||||
|
- 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
|
|
Noncontrolling Interests (Schedule Of Redeemable Noncontrolling Interest) (Details) (USD $)
|
0 Months Ended | 3 Months Ended | 0 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2012
|
Dec. 31, 2011
|
Jun. 01, 2011
DaVinciRe [Member]
|
Mar. 31, 2012
DaVinciRe [Member]
|
Mar. 31, 2011
DaVinciRe [Member]
|
Jan. 02, 2012
DaVinciRe [Member]
|
Dec. 31, 2011
DaVinciRe [Member]
|
Jan. 02, 2012
DaVinciRe [Member]
Redeemable Noncontrolling Interest Member
|
Mar. 31, 2012
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]
|
Dec. 31, 2011
DaVinciRe [Member]
Redeemable Noncontrolling Interest Member
Notice Submitted in Advance of Deadline [Member]
|
Mar. 31, 2012
DaVinciRe [Member]
Redeemable Noncontrolling Interest Member
Maximum [Member]
|
|
| Redeemable Noncontrolling Interest [Line Items] | ||||||||||||
| Parent company ownership in redeemable noncontrolling interest | 42.80% | 34.70% | 34.70% | 42.80% | ||||||||
| Share repurchase requests, limit | 25.00% | |||||||||||
| Redeemable Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests, Reserve Holdback | $ 10,000,000 | $ 4,900,000 | $ 1,800,000 | |||||||||
| Equity raised from new and existing shareholders | 100,000,000 | |||||||||||
| Equity raised from parent | 30,000,000 | |||||||||||
| Proceeds from Sale of Partial Interest in Consolidated Subsidiaries | 98,900,000 | |||||||||||
| Activity in redeemable noncontrolling interest | ||||||||||||
| Balance, Beginning | 796,743,000 | 657,727,000 | 657,727,000 | 757,655,000 | 48,200,000 | 9,200,000 | ||||||
| Net purchase of shares from redeemable noncontrolling interests | 0 | (135,172,000) | ||||||||||
| Net sale of shares to redeemable noncontrolling interests | 85,668,000 | 0 | ||||||||||
| Comprehensive income: | ||||||||||||
| Net income (loss) attributable to redeemable noncontrolling interest | 53,348,000 | (85,763,000) | ||||||||||
| Other comprehensive loss attributable to redeemable noncontrolling interest | 0 | (3,000) | ||||||||||
| Balance, Ending | $ 796,743,000 | $ 657,727,000 | $ 796,743,000 | $ 536,717,000 | $ 48,200,000 | $ 9,200,000 | ||||||
| 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 | ||||||||||
|
- 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 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 | ||
|---|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
Dec. 31, 2011
|
|
| Noncontrolling Interest [Line Items] | |||
| Ownership interest with other equity investors, Amount | $ 0 | $ 0 | |
| Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | |||
| Balance, Beginning | 3,340 | ||
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest [Abstract] | |||
| Net income attributable to noncontrolling interest | 53,641 | (85,492) | |
| Balance, Ending | 3,892 | ||
|
Angus Fund Member
|
|||
| Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | |||
| Balance, Beginning | 3,340 | 2,889 | |
| Sale of shares to noncontrolling interest | 300 | 0 | |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest [Abstract] | |||
| Net income attributable to noncontrolling interest | 293 | 271 | |
| Dividends on common shares | (41) | 0 | |
| Balance, Ending | 3,892 | 3,160 | |
|
Real Member | Angus Fund Member
|
|||
| Noncontrolling Interest [Line Items] | |||
| Ownership interest with other equity investors, Amount | 55 | 41 | |
| Parent company ownership in consolidated subsidiary | 1.00% | 1.00% | |
|
Rrca Member | Angus Fund Member
|
|||
| Noncontrolling Interest [Line Items] | |||
| Ownership interest with other equity investors, Amount | $ 2,000 | $ 1,000 | |
| Parent company ownership in consolidated subsidiary | 36.30% | 24.20% | |
| 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
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 | 0 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 0 Months Ended | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2012
|
Feb. 22, 2012
|
Mar. 31, 2012
|
Mar. 31, 2011
|
Mar. 15, 2012
Common Stock [Member]
|
Dec. 31, 2006
Series D Preferred Stock [Member]
|
Mar. 31, 2012
Series D Preferred Stock [Member]
|
Nov. 30, 2011
Series D Preferred Stock [Member]
|
Mar. 31, 2004
Series C Preferred Stock [Member]
|
Mar. 31, 2012
Series C Preferred Stock [Member]
|
Mar. 23, 2009
Series C Preferred Stock [Member]
|
Nov. 17, 2010
Series B Preferred Stock [Member]
|
|
| Class of Stock [Line Items] | ||||||||||||
| Dividends declared, Per common share | $ 0.27 | $ 0.26 | $ 0.27 | |||||||||
| Dividends paid, Per common share | $ 0.27 | |||||||||||
| Share repurchase program, Shares repurchased | 50,620 | |||||||||||
| Shares repurchased during period, Aggregate value | $ (3,600,000) | |||||||||||
| Shares repurchased during period, Average cost per share | $ 71.81 | |||||||||||
| Share repurchase program, Authorized aggregate amount | 500,000,000 | |||||||||||
| Share repurchase program, Remaining authorized aggregate amount | 500,000,000 | |||||||||||
| Proceeds from issuance of preference shares | 300,000,000 | 250,000,000 | ||||||||||
| Preference shares issued, Shares | 12,000,000 | 10,000,000 | ||||||||||
| Preference shares issued, Issuance price per share | $ 25 | $ 25 | ||||||||||
| Preference shares, Dividend rate | 6.60% | 6.08% | 7.30% | |||||||||
| Preference shares, Redemption price per share | $ 25 | $ 25 | $ 25 | |||||||||
| Dividends declared and paid, Preference shares | $ 8,750,000 | $ 8,750,000 | ||||||||||
| X | ||||||||||
|
- Definition
Dollar amount per share of new stock issued during the period. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| 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
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 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
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 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.
|
| X | ||||||||||
|
- Definition
Total cost of shares repurchased divided by the total number of shares repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
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 | |||||
|---|---|---|---|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|||||
| Numerator: | ||||||
| Net (loss) income (attributable) available to RenaissanceRe common shareholders | $ 201,429 | $ (248,033) | ||||
| Amount allocated to participating common shareholders | (3,404) | [1] | 6,327 | [1] | ||
| Net (loss) income allocated to RenaissanceRe common shareholders | $ 198,025 | $ (241,706) | ||||
| Denominator: | ||||||
| Denominator for basic (loss) income per RenaissanceRe common share - weighted average common shares (In shares) | 50,377 | 51,504 | ||||
| Per common share equivalents of employee stock options and restricted shares (In shares) | 604 | 0 | ||||
| Denominator for diluted (loss) income per RenaissanceRe common share - adjusted weighted average common shares and assumed conversions (In shares) | 50,981 | 51,504 | ||||
| Basic (loss) income per RenaissanceRe common share (In dollars per share) | $ 3.93 | $ (4.69) | ||||
| Diluted (loss) income per RenaissanceRe common share (In dollars per share) | $ 3.88 | $ (4.69) | ||||
|
||||||
| 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 | ||||||||||
|
- 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
|
|
Segment Reporting (Narrative) (Details)
|
3 Months Ended |
|---|---|
|
Mar. 31, 2012
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 | |||||||
|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|||||||
| Gross premiums written | $ 664,151,000 | $ 610,505,000 | ||||||
| Net premiums written | 492,575,000 | 452,575,000 | ||||||
| Net premiums earned | 278,665,000 | 305,541,000 | ||||||
| Net claims and claim expenses incurred | 15,552,000 | 628,537,000 | ||||||
| Acquisition expenses | 24,111,000 | 32,335,000 | ||||||
| Operational expenses | 42,383,000 | 41,830,000 | ||||||
| Underwriting income (loss) | 196,619,000 | (397,161,000) | ||||||
| Net investment income | 66,971,000 | 60,281,000 | ||||||
| Net foreign exchange losses | (1,460,000) | 660,000 | ||||||
| Equity in earnings (losses) of other ventures | 5,470,000 | (23,753,000) | ||||||
| Other (loss) income | (39,094,000) | 50,145,000 | ||||||
| Net realized and unrealized gains on investments | 46,113,000 | (5,214,000) | ||||||
| Net other-than-temporary impairments | (134,000) | 0 | ||||||
| Corporate expenses | (4,811,000) | (2,064,000) | ||||||
| Interest expense | (5,718,000) | (6,195,000) | ||||||
| Income (loss) from continuing operations before taxes | 263,956,000 | (323,301,000) | ||||||
| Income tax benefit (expense) | 37,000 | 52,000 | ||||||
| Net (loss) income from discontinued operations | (173,000) | (1,526,000) | ||||||
| Net loss attributable to noncontrolling interests | (53,641,000) | 85,492,000 | ||||||
| Dividends on preference shares | (8,750,000) | (8,750,000) | ||||||
| Net income (loss) available (attributable) to RenaissanceRe common shareholders | 201,429,000 | (248,033,000) | ||||||
| Net claims and claim expenses incurred - current accident year | 71,424,000 | 696,697,000 | ||||||
| Net claims and claim expenses incurred - prior accident years | (55,872,000) | (68,160,000) | ||||||
| Net claims and claim expenses incurred | 15,552,000 | 628,537,000 | ||||||
| Net claims and claim expense ratio - current accident year | 25.60% | 228.00% | ||||||
| Net claims and claim expense ratio - prior accident years | (20.00%) | (22.30%) | ||||||
| Net claims and claim expense ratio - calendar year | 5.60% | 205.70% | ||||||
| Underwriting expense ratio | 23.80% | 24.30% | ||||||
| Combined ratio | 29.40% | 230.00% | ||||||
|
Reinsurance [Member]
|
||||||||
| Gross premiums written | 609,762,000 | 573,682,000 | ||||||
| Net premiums written | 458,638,000 | 423,566,000 | ||||||
| Net premiums earned | 253,818,000 | 289,429,000 | ||||||
| Net claims and claim expenses incurred | 8,324,000 | 595,404,000 | ||||||
| Acquisition expenses | 19,386,000 | 29,792,000 | ||||||
| Operational expenses | 32,044,000 | 32,363,000 | ||||||
| Underwriting income (loss) | 194,064,000 | (368,130,000) | ||||||
| Net claims and claim expenses incurred - current accident year | 55,144,000 | 667,362,000 | ||||||
| Net claims and claim expenses incurred - prior accident years | (46,820,000) | (71,958,000) | ||||||
| Net claims and claim expenses incurred | 8,324,000 | 595,404,000 | ||||||
| Net claims and claim expense ratio - current accident year | 21.70% | 230.60% | ||||||
| Net claims and claim expense ratio - prior accident years | (18.40%) | (24.90%) | ||||||
| Net claims and claim expense ratio - calendar year | 3.30% | 205.70% | ||||||
| Underwriting expense ratio | 20.20% | 21.50% | ||||||
| Combined ratio | 23.50% | 227.20% | ||||||
|
Lloyd's [Member]
|
||||||||
| Gross premiums written | 54,817,000 | 36,620,000 | ||||||
| Net premiums written | 33,937,000 | 28,737,000 | ||||||
| Net premiums earned | 24,822,000 | 15,674,000 | ||||||
| Net claims and claim expenses incurred | 9,001,000 | 30,523,000 | ||||||
| Acquisition expenses | 4,668,000 | 2,461,000 | ||||||
| Operational expenses | 10,057,000 | 8,972,000 | ||||||
| Underwriting income (loss) | 1,096,000 | (26,282,000) | ||||||
| Net claims and claim expenses incurred - current accident year | 16,280,000 | 29,326,000 | ||||||
| Net claims and claim expenses incurred - prior accident years | (7,279,000) | 1,197,000 | ||||||
| Net claims and claim expenses incurred | 9,001,000 | 30,523,000 | ||||||
| Net claims and claim expense ratio - current accident year | 65.60% | 187.10% | ||||||
| Net claims and claim expense ratio - prior accident years | (29.30%) | 7.60% | ||||||
| Net claims and claim expense ratio - calendar year | 36.30% | 194.70% | ||||||
| Underwriting expense ratio | 59.30% | 73.00% | ||||||
| Combined ratio | 95.60% | 267.70% | ||||||
|
Insurance [Member]
|
||||||||
| Gross premiums written | 0 | 280,000 | ||||||
| Net premiums written | 0 | 272,000 | ||||||
| Net premiums earned | 25,000 | 438,000 | ||||||
| Net claims and claim expenses incurred | (1,773,000) | 2,610,000 | ||||||
| Acquisition expenses | 57,000 | 82,000 | ||||||
| Operational expenses | 282,000 | 495,000 | ||||||
| Underwriting income (loss) | 1,459,000 | (2,749,000) | ||||||
| Net claims and claim expenses incurred - current accident year | 0 | 9,000 | ||||||
| Net claims and claim expenses incurred - prior accident years | (1,773,000) | 2,601,000 | ||||||
| Net claims and claim expenses incurred | (1,773,000) | 2,610,000 | ||||||
| Net claims and claim expense ratio - current accident year | 0.00% | 2.10% | ||||||
| Net claims and claim expense ratio - prior accident years | (7092.00%) | 593.80% | ||||||
| Net claims and claim expense ratio - calendar year | (7092.00%) | 595.90% | ||||||
| Underwriting expense ratio | 1356.00% | 131.70% | ||||||
| Combined ratio | (5736.00%) | 727.60% | ||||||
|
Eliminations [Member]
|
||||||||
| Gross premiums written | (428,000) | [1] | (77,000) | [2] | ||||
|
All Other Segments [Member]
|
||||||||
| Gross premiums written | 0 | 0 | ||||||
| Net premiums written | 0 | 0 | ||||||
| Net premiums earned | 0 | 0 | ||||||
| Net claims and claim expenses incurred | 0 | 0 | ||||||
| Acquisition expenses | 0 | 0 | ||||||
| Operational expenses | 0 | 0 | ||||||
| Underwriting income (loss) | 0 | 0 | ||||||
| Net investment income | 66,971,000 | 60,281,000 | ||||||
| Net foreign exchange losses | (1,460,000) | 660,000 | ||||||
| Equity in earnings (losses) of other ventures | 5,470,000 | (23,753,000) | ||||||
| Other (loss) income | (39,094,000) | 50,145,000 | ||||||
| Net realized and unrealized gains on investments | 46,113,000 | (5,214,000) | ||||||
| Net other-than-temporary impairments | (134,000) | |||||||
| Corporate expenses | (4,811,000) | (2,064,000) | ||||||
| Interest expense | (5,718,000) | (6,195,000) | ||||||
| Income tax benefit (expense) | 37,000 | 52,000 | ||||||
| Net (loss) income from discontinued operations | (173,000) | (1,526,000) | ||||||
| Net loss attributable to noncontrolling interests | (53,641,000) | 85,492,000 | ||||||
| Dividends on preference shares | (8,750,000) | (8,750,000) | ||||||
| Net claims and claim expenses incurred | 0 | 0 | ||||||
|
Intersegment Elimination, Reinsurance Segment To Lloyds Segment Member
|
||||||||
| Gross premiums ceded from segment to segment | $ 400,000 | $ 100,000 | ||||||
|
||||||||
| 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
|
|
Derivative Instruments (Narrative) (Details) (USD $)
Share data in Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 3 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
Jan. 20, 2011
Platinum [Member]
|
Mar. 31, 2012
Interest Rate Contract [Member]
|
Dec. 31, 2011
Interest Rate Contract [Member]
|
Mar. 31, 2012
Foreign Currency Forward Contracts, Underwriting and Non-investment Operations [Member]
|
Mar. 31, 2011
Foreign Currency Forward Contracts, Underwriting and Non-investment Operations [Member]
|
Mar. 31, 2012
Foreign Currency Forward Contracts, Investment Operations [Member]
|
Mar. 31, 2011
Foreign Currency Forward Contracts, Investment Operations [Member]
|
Mar. 31, 2012
Foreign Currency Forward Contracts, Energy And Risk Operations [Member]
|
Mar. 31, 2011
Foreign Currency Forward Contracts, Energy And Risk Operations [Member]
|
Mar. 31, 2012
Credit Risk Contract [Member]
|
Mar. 31, 2011
Credit Risk Contract [Member]
|
Mar. 31, 2012
Energy And Weather Contracts [Member]
Other (Loss) Income [Member]
|
Mar. 31, 2011
Energy And Weather Contracts [Member]
Other (Loss) Income [Member]
|
Jan. 20, 2011
Platinum Warrant [Member]
|
Jan. 20, 2011
Platinum Warrant [Member]
Other (Loss) Income [Member]
|
Mar. 31, 2012
Platinum Warrant [Member]
Other (Loss) Income [Member]
|
Mar. 31, 2011
Platinum Warrant [Member]
Other (Loss) Income [Member]
|
Mar. 31, 2012
Renaissance Trading [Member]
Energy And Weather Contracts [Member]
|
Mar. 31, 2012
Value at Risk Valuation Technique [Member]
Energy And Weather Contracts [Member]
|
|
| Derivative [Line Items] | |||||||||||||||||||||
| Notional amount of interest rate derivative purchase contracts | $ 385,300,000 | $ 3,200,000,000 | |||||||||||||||||||
| Notional amount of interest rate derivative sale contracts | 215,100,000 | 285,700,000 | |||||||||||||||||||
| Notional amount of foreign currency derivative purchase contracts | 236,600,000 | 160,500,000 | 126,300,000 | 48,100,000 | 21,200,000 | 7,800,000 | |||||||||||||||
| Notional amount of foreign currency derivative sale contracts | 575,500,000 | 700,800,000 | 217,600,000 | 211,600,000 | 13,300,000 | 12,700,000 | |||||||||||||||
| Notional amount of credit risk derivative purchase contracts | 15,000,000 | 15,000,000 | |||||||||||||||||||
| Notional amount of credit risk derivative sale contracts | 23,800,000 | 38,100,000 | |||||||||||||||||||
| Value at risk, likelihood of potential loss being within estimate | 99.00% | ||||||||||||||||||||
| Value at risk, likelihood of potential loss exceeding estimate | 1.00% | ||||||||||||||||||||
| Value at risk of portfolio at period end | 13,600,000 | ||||||||||||||||||||
| Value at risk of portfolio during the period, average | 28,600,000 | ||||||||||||||||||||
| Value at risk of portfolio during the period, minimum | 13,000,000 | ||||||||||||||||||||
| Value at risk of portfolio during the period, maximum | 49,300,000 | ||||||||||||||||||||
| Guarantees | 361,000,000 | ||||||||||||||||||||
| Platinum Warrant, Shares | 2.5 | ||||||||||||||||||||
| Platinum Warrant, in dollars per share | $ 27 | ||||||||||||||||||||
| Aggregate proceeds from sale of Platinum Warrant | 47,900,000 | ||||||||||||||||||||
| Derivative Instruments, Gain (Loss) Recognized in Income, Net | $ (27,684,000) | $ 5,506,000 | $ (28,713,000) | $ 8,500,000 | $ 3,000,000 | $ 0 | $ 2,975,000 | ||||||||||||||
| 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
Value-at-risk (“VaR”) is a tool that measures the potential loss that could occur if trading positions were maintained over a defined period of time, calculated at a given statistical confidence level. No definition available.
|
| X | ||||||||||
|
- Definition
VaR is a tool that measures the potential loss that could occur if the Company's trading positions were maintained over a defined period of time, calculated at a given statistical confidence level. No definition available.
|
| X | ||||||||||
|
- Definition
VaR is a tool that measures the potential loss that could occur if the Company's trading positions were maintained over a defined period of time, calculated at a given statistical confidence level. No definition available.
|
| X | ||||||||||
|
- Definition
VaR is a tool that measures the potential loss that could occur if the Company's trading positions were maintained over a defined period of time, calculated at a given statistical confidence level. No definition available.
|
| X | ||||||||||
|
- Definition
VaR is a tool that measures the potential loss that could occur if the Company's trading positions were maintained over a defined period of time, calculated at a given statistical confidence level. No definition available.
|
| X | ||||||||||
|
- Definition
VaR is a tool that measures the potential loss that could occur if the Company's trading positions were maintained over a defined period of time, calculated at a given statistical confidence level. 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
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
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 $)
|
Mar. 31, 2012
|
Dec. 31, 2011
|
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | $ 67,172,000 | $ 60,939,000 | ||||||||||
| Derivative Liabilities [Abstract] | ||||||||||||
| Derivative Liabilities, Net | 33,767,000 | 57,627,000 | ||||||||||
|
Other Assets [Member] | Interest Rate Futures [Member]
|
||||||||||||
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | 613,000 | 612,000 | ||||||||||
|
Other Assets [Member] | Foreign Currency Forward Contracts, Underwriting and Non-investment Operations [Member]
|
||||||||||||
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | 9,406,000 | [1] | 0 | [1] | ||||||||
|
Other Assets [Member] | Foreign Currency Forward Contracts, Investment Operations [Member]
|
||||||||||||
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | 3,081,000 | [2] | 7,219,000 | [2] | ||||||||
|
Other Assets [Member] | Foreign Currency Forward Contracts, Energy And Risk Operations [Member]
|
||||||||||||
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | 140,000 | [3] | 387,000 | [3] | ||||||||
|
Other Assets [Member] | Credit Default Swap [Member]
|
||||||||||||
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | 568,000 | 0 | ||||||||||
|
Other Assets [Member] | Energy And Weather Contracts [Member]
|
||||||||||||
| Derivative Assets [Abstract] | ||||||||||||
| Derivative Asset, Net | 53,364,000 | [4] | 52,721,000 | [4] | ||||||||
| Energy and Weather Contracts [Abstract] | ||||||||||||
| Derivative asset, gross asset component | 171,200,000 | 104,600,000 | ||||||||||
| Derivative asset, gross liability component | 117,800,000 | 51,900,000 | ||||||||||
|
Other Liabilities [Member] | Interest Rate Futures [Member]
|
||||||||||||
| Derivative Liabilities [Abstract] | ||||||||||||
| Derivative Liabilities, Net | 202,000 | 339,000 | ||||||||||
|
Other Liabilities [Member] | Foreign Currency Forward Contracts, Underwriting and Non-investment Operations [Member]
|
||||||||||||
| Derivative Liabilities [Abstract] | ||||||||||||
| Derivative Liabilities, Net | 6,322,000 | [1] | 11,754,000 | [1] | ||||||||
|
Other Liabilities [Member] | Foreign Currency Forward Contracts, Investment Operations [Member]
|
||||||||||||
| Derivative Liabilities [Abstract] | ||||||||||||
| Derivative Liabilities, Net | 3,966,000 | [2] | 1,606,000 | [2] | ||||||||
|
Other Liabilities [Member] | Credit Default Swap [Member]
|
||||||||||||
| Derivative Liabilities [Abstract] | ||||||||||||
| Derivative Liabilities, Net | 631,000 | 539,000 | ||||||||||
|
Other Liabilities [Member] | Energy And Weather Contracts [Member]
|
||||||||||||
| Derivative Liabilities [Abstract] | ||||||||||||
| Derivative Liabilities, Net | 22,646,000 | [4] | 43,389,000 | [4] | ||||||||
| Energy and Weather Contracts [Abstract] | ||||||||||||
| Derivative liability, gross asset component | 7,300,000 | 8,800,000 | ||||||||||
| Derivative liability, gross liability component | $ 29,900,000 | $ 52,200,000 | ||||||||||
|
||||||||||||
| 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 |
0 Months Ended | 3 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jan. 20, 2011
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
| Amount of gain (loss) recognized on derivatives | $ (27,684) | $ 5,506 | |||||||||
|
Net Investment Income [Member] | Interest Rate Futures [Member]
|
|||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
| Amount of gain (loss) recognized on derivatives | 1,030 | (654) | |||||||||
|
Net Investment Income [Member] | Credit Default Swap [Member]
|
|||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
| Amount of gain (loss) recognized on derivatives | 558 | 722 | |||||||||
|
Net Foreign Exchange (Losses) Gains [Member] | Foreign Currency Forward Contracts, Underwriting and Non-investment Operations [Member]
|
|||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
| Amount of gain (loss) recognized on derivatives | 3,552 | [1] | 7,799 | [1] | |||||||
|
Net Foreign Exchange (Losses) Gains [Member] | Foreign Currency Forward Contracts, Investment Operations [Member]
|
|||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
| Amount of gain (loss) recognized on derivatives | (4,248) | [2] | (13,400) | [2] | |||||||
|
Net Foreign Exchange (Losses) Gains [Member] | Foreign Currency Forward Contracts, Energy And Risk Operations [Member]
|
|||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
| Amount of gain (loss) recognized on derivatives | 137 | [3] | (436) | [3] | |||||||
|
Other (Loss) Income [Member] | Energy And Weather Contracts [Member]
|
|||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
| Amount of gain (loss) recognized on derivatives | (28,713) | 8,500 | |||||||||
|
Other (Loss) Income [Member] | Platinum Warrant [Member]
|
|||||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
| Amount of gain (loss) recognized on derivatives | $ 3,000 | $ 0 | $ 2,975 | ||||||||
|
|||||||||||
| 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)
|
Mar. 31, 2012
Btu
|
Dec. 31, 2011
Btu
|
||||
|---|---|---|---|---|---|---|
|
Energy [Member]
|
||||||
| Derivative [Line Items] | ||||||
| Derivative, Nonmonetary Notional Amount | 465,396,010 | [1] | 240,363,364 | [1] | ||
|
Temperature [Member]
|
||||||
| Derivative [Line Items] | ||||||
| Derivative, Notional Amount per Unit | 21,596,501 | [1] | 14,917,438 | [1] | ||
|
Agriculture [Member]
|
||||||
| Derivative [Line Items] | ||||||
| Derivative, Nonmonetary Notional Amount | 13,073,000 | [1] | 6,098,000 | [1] | ||
|
Precipitation [Member]
|
||||||
| Derivative [Line Items] | ||||||
| Derivative, Notional Amount per Unit | 3,174,114 | [1] | 65,000 | [1] | ||
|
Wind [Member]
|
||||||
| Derivative [Line Items] | ||||||
| Derivative, Notional Amount per Unit | 513 | [1] | 712 | [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
|
|
Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Narrative) (Details) (RenRe North America Holdings Inc. [Member], 5.75% Senior Notes Due March 15, 2020 [Member], USD $)
In Millions, unless otherwise specified |
0 Months Ended |
|---|---|
|
Mar. 17, 2010
|
|
|
RenRe North America Holdings Inc. [Member] | 5.75% Senior Notes Due March 15, 2020 [Member]
|
|
| Debt Instrument [Line Items] | |
| Senior notes issuance date | March 17, 2010 |
| 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 |
Mar. 31, 2012
|
Dec. 31, 2011
|
Mar. 31, 2011
|
Dec. 31, 2010
|
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Total investments | $ 6,411,543 | $ 6,209,252 | ||||||||||
| Cash and cash equivalents | 260,982 | 216,984 | 252,631 | 277,738 | ||||||||
| Investments in subsidiaries | 0 | 0 | ||||||||||
| Due from subsidiaries and affiliates | 0 | 0 | ||||||||||
| Premiums receivable | 703,932 | 471,878 | ||||||||||
| Prepaid reinsurance premiums | 143,690 | 58,522 | ||||||||||
| Reinsurance recoverable | 279,398 | 404,029 | ||||||||||
| Accrued investment income | 30,782 | 33,523 | ||||||||||
| Deferred acquisition costs | 71,162 | 43,721 | ||||||||||
| Other assets | 452,109 | 307,003 | ||||||||||
| Total assets | 8,353,598 | 7,744,912 | ||||||||||
| Liabilities | ||||||||||||
| Reserve for claims and claim expenses | 1,858,203 | 1,992,354 | ||||||||||
| Unearned premiums | 646,733 | 347,655 | ||||||||||
| Debt | 351,999 | 353,620 | ||||||||||
| Amounts due to subsidiaries and affiliates | 0 | 0 | ||||||||||
| Reinsurance balances payable | 285,207 | 256,883 | ||||||||||
| Other liabilities | 603,717 | 514,633 | ||||||||||
| Liabilities of discontinued operations held for sale | 12,539 | 13,507 | ||||||||||
| Total liabilities | 3,758,398 | 3,478,652 | ||||||||||
| Redeemable noncontrolling interest - DaVinciRe | 796,743 | 657,727 | ||||||||||
| Shareholders' Equity | ||||||||||||
| Total shareholders' equity | 3,798,457 | 3,608,533 | 3,503,062 | |||||||||
| Total liabilities, noncontrolling interests and shareholders' equity | 8,353,598 | 7,744,912 | ||||||||||
|
RenaissanceRe Holdings Ltd. (Parent Guarantor) [Member]
|
||||||||||||
| Assets | ||||||||||||
| Total investments | 534,825 | 593,973 | ||||||||||
| Cash and cash equivalents | 13,339 | 10,606 | 1,171 | 3,414 | ||||||||
| Investments in subsidiaries | 2,968,902 | 2,776,997 | ||||||||||
| Due from subsidiaries and affiliates | 213,462 | 172,069 | ||||||||||
| Premiums receivable | 0 | 0 | ||||||||||
| Prepaid reinsurance premiums | 0 | 0 | ||||||||||
| Reinsurance recoverable | 0 | 0 | ||||||||||
| Accrued investment income | 3,103 | 4,106 | ||||||||||
| Deferred acquisition costs | 0 | 0 | ||||||||||
| Other assets | 223,782 | 206,171 | ||||||||||
| Total assets | 3,957,413 | 3,763,922 | ||||||||||
| Liabilities | ||||||||||||
| Reserve for claims and claim expenses | 0 | 0 | ||||||||||
| Unearned premiums | 0 | 0 | ||||||||||
| Debt | 100,000 | 100,000 | ||||||||||
| Amounts due to subsidiaries and affiliates | 49,303 | 30,519 | ||||||||||
| Reinsurance balances payable | 0 | 0 | ||||||||||
| Other liabilities | 13,545 | 28,210 | ||||||||||
| Liabilities of discontinued operations held for sale | 0 | 0 | ||||||||||
| Total liabilities | 162,848 | 158,729 | ||||||||||
| Redeemable noncontrolling interest - DaVinciRe | 0 | 0 | ||||||||||
| Shareholders' Equity | ||||||||||||
| Total shareholders' equity | 3,794,565 | 3,605,193 | ||||||||||
| Total liabilities, noncontrolling interests and shareholders' equity | 3,957,413 | 3,763,922 | ||||||||||
|
RenRe North America Holdings Inc. (Subsidiary Issuer) [Member]
|
||||||||||||
| Assets | ||||||||||||
| Total investments | 64,616 | 104,869 | ||||||||||
| Cash and cash equivalents | 740 | 4,920 | 5,329 | 3,940 | ||||||||
| Investments in subsidiaries | 85,164 | 83,031 | ||||||||||
| Due from subsidiaries and affiliates | 4 | 846 | ||||||||||
| Premiums receivable | 0 | 0 | ||||||||||
| Prepaid reinsurance premiums | 0 | 0 | ||||||||||
| Reinsurance recoverable | 0 | 0 | ||||||||||
| Accrued investment income | 512 | 311 | ||||||||||
| Deferred acquisition costs | 0 | 0 | ||||||||||
| Other assets | 31,014 | 27,198 | ||||||||||
| Total assets | 182,050 | 221,175 | ||||||||||
| Liabilities | ||||||||||||
| Reserve for claims and claim expenses | 0 | 0 | ||||||||||
| Unearned premiums | 0 | 0 | ||||||||||
| Debt | 249,270 | 249,247 | ||||||||||
| Amounts due to subsidiaries and affiliates | 4,887 | 6,081 | ||||||||||
| Reinsurance balances payable | 0 | 0 | ||||||||||
| Other liabilities | 4,116 | 3,755 | ||||||||||
| Liabilities of discontinued operations held for sale | 12,539 | 13,507 | ||||||||||
| Total liabilities | 270,812 | 272,590 | ||||||||||
| Redeemable noncontrolling interest - DaVinciRe | 0 | 0 | ||||||||||
| Shareholders' Equity | ||||||||||||
| Total shareholders' equity | (88,762) | (51,415) | ||||||||||
| Total liabilities, noncontrolling interests and shareholders' equity | 182,050 | 221,175 | ||||||||||
|
Other RenaissanceRe Holdings Ltd. Subsidiaries And Eliminations (Non-Guarantor Subsidiaries) [Member]
|
||||||||||||
| Assets | ||||||||||||
| Total investments | 5,812,102 | [1] | 5,510,410 | [1] | ||||||||
| Cash and cash equivalents | 246,903 | [1] | 201,458 | [1] | 246,131 | [1] | 270,384 | [1] | ||||
| Investments in subsidiaries | 0 | [1] | 0 | [1] | ||||||||
| Due from subsidiaries and affiliates | 0 | [1] | 0 | [1] | ||||||||
| Premiums receivable | 703,932 | [1] | 471,878 | [1] | ||||||||
| Prepaid reinsurance premiums | 143,690 | [1] | 58,522 | [1] | ||||||||
| Reinsurance recoverable | 279,398 | [1] | 404,029 | [1] | ||||||||
| Accrued investment income | 27,167 | [1] | 29,106 | [1] | ||||||||
| Deferred acquisition costs | 71,162 | [1] | 43,721 | [1] | ||||||||
| Other assets | 399,562 | [1] | 275,092 | [1] | ||||||||
| Total assets | 7,683,916 | [1] | 6,994,216 | [1] | ||||||||
| Liabilities | ||||||||||||
| Reserve for claims and claim expenses | 1,858,203 | [1] | 1,992,354 | [1] | ||||||||
| Unearned premiums | 646,733 | [1] | 347,655 | [1] | ||||||||
| Debt | 2,729 | [1] | 4,373 | [1] | ||||||||
| Amounts due to subsidiaries and affiliates | 0 | [1] | 0 | [1] | ||||||||
| Reinsurance balances payable | 285,207 | [1] | 256,883 | [1] | ||||||||
| Other liabilities | 586,264 | [1] | 482,668 | [1] | ||||||||
| Liabilities of discontinued operations held for sale | 0 | [1] | 0 | [1] | ||||||||
| Total liabilities | 3,379,136 | [1] | 3,083,933 | [1] | ||||||||
| Redeemable noncontrolling interest - DaVinciRe | 796,743 | [1] | 657,727 | [1] | ||||||||
| Shareholders' Equity | ||||||||||||
| Total shareholders' equity | 3,508,037 | [1] | 3,252,556 | [1] | ||||||||
| Total liabilities, noncontrolling interests and shareholders' equity | 7,683,916 | [1] | 6,994,216 | [1] | ||||||||
|
Consolidating Adjustments [Member]
|
||||||||||||
| Assets | ||||||||||||
| Total investments | 0 | [2] | 0 | [2] | ||||||||
| Cash and cash equivalents | 0 | [2] | 0 | [2] | ||||||||
| Investments in subsidiaries | (3,054,066) | [2] | (2,860,028) | [2] | ||||||||
| Due from subsidiaries and affiliates | (213,466) | [2] | (172,915) | [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 | (202,249) | [2] | (201,458) | [2] | ||||||||
| Total assets | (3,469,781) | [2] | (3,234,401) | [2] | ||||||||
| Liabilities | ||||||||||||
| Reserve for claims and claim expenses | 0 | [2] | 0 | [2] | ||||||||
| Unearned premiums | 0 | [2] | 0 | [2] | ||||||||
| Debt | 0 | [2] | 0 | [2] | ||||||||
| Amounts due to subsidiaries and affiliates | (54,190) | [2] | (36,600) | [2] | ||||||||
| Reinsurance balances payable | 0 | [2] | 0 | [2] | ||||||||
| Other liabilities | (208) | [2] | 0 | [2] | ||||||||
| Liabilities of discontinued operations held for sale | 0 | [2] | 0 | [2] | ||||||||
| Total liabilities | (54,398) | [2] | (36,600) | [2] | ||||||||
| Redeemable noncontrolling interest - DaVinciRe | 0 | [2] | 0 | [2] | ||||||||
| Shareholders' Equity | ||||||||||||
| Total shareholders' equity | (3,415,383) | [2] | (3,197,801) | [2] | ||||||||
| Total liabilities, noncontrolling interests and shareholders' equity | $ (3,469,781) | [2] | $ (3,234,401) | [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
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 | |||||||
|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|||||||
| Revenues | ||||||||
| Net premiums earned | $ 278,665 | $ 305,541 | ||||||
| Net investment income | 66,971 | 60,281 | ||||||
| Net foreign exchange (losses) gains | (1,460) | 660 | ||||||
| Equity in earnings (losses) of other ventures | 5,470 | (23,753) | ||||||
| Other income (loss) | (39,094) | 50,145 | ||||||
| Net realized and unrealized gains (losses) on investments | 46,113 | (5,214) | ||||||
| Net other-than-temporary impairments | (134) | 0 | ||||||
| Total revenues | 356,531 | 387,660 | ||||||
| Expenses | ||||||||
| Net claims and claim expenses incurred | 15,552 | 628,537 | ||||||
| Acquisition expenses | 24,111 | 32,335 | ||||||
| Operational expenses | 42,383 | 41,830 | ||||||
| Corporate expenses | 4,811 | 2,064 | ||||||
| Interest expense | 5,718 | 6,195 | ||||||
| Total expenses | 92,575 | 710,961 | ||||||
| Income (loss) before equity in net income (loss) of subsidiaries and taxes | 263,956 | (323,301) | ||||||
| Equity in net income (loss) of subsidiaries | 0 | 0 | ||||||
| Income (loss) from continuing operations before taxes | 263,956 | (323,301) | ||||||
| Income tax benefit (expense) | 37 | 52 | ||||||
| Income (loss) from continuing operations | 263,993 | (323,249) | ||||||
| Loss from discontinued operations | (173) | (1,526) | ||||||
| Net income (loss) | 263,820 | (324,775) | ||||||
| Net (income) loss attributable to noncontrolling interests | (53,641) | 85,492 | ||||||
| Net income (loss) attributable to RenaissanceRe | 210,179 | (239,283) | ||||||
| Dividends on preference shares | (8,750) | (8,750) | ||||||
| Net income (loss) available (attributable) to RenaissanceRe common shareholders | 201,429 | (248,033) | ||||||
|
RenaissanceRe Holdings Ltd. (Parent Guarantor) [Member]
|
||||||||
| Revenues | ||||||||
| Net premiums earned | 0 | 0 | ||||||
| Net investment income | 4,448 | 5,164 | ||||||
| Net foreign exchange (losses) gains | 20 | 91 | ||||||
| Equity in earnings (losses) of other ventures | 0 | 0 | ||||||
| Other income (loss) | 92 | 166 | ||||||
| Net realized and unrealized gains (losses) on investments | 3,512 | (992) | ||||||
| Net other-than-temporary impairments | 0 | |||||||
| Total revenues | 8,072 | 4,429 | ||||||
| Expenses | ||||||||
| Net claims and claim expenses incurred | 0 | 0 | ||||||
| Acquisition expenses | 0 | 0 | ||||||
| Operational expenses | (1,311) | (1,220) | ||||||
| Corporate expenses | 4,178 | 2,041 | ||||||
| Interest expense | 1,469 | 4,975 | ||||||
| Total expenses | 4,336 | 5,796 | ||||||
| Income (loss) before equity in net income (loss) of subsidiaries and taxes | 3,736 | (1,367) | ||||||
| Equity in net income (loss) of subsidiaries | 206,443 | (238,206) | ||||||
| Income (loss) from continuing operations before taxes | 210,179 | (239,573) | ||||||
| Income tax benefit (expense) | 0 | 290 | ||||||
| Income (loss) from continuing operations | 210,179 | (239,283) | ||||||
| Loss from discontinued operations | 0 | 0 | ||||||
| Net income (loss) | 210,179 | (239,283) | ||||||
| Net (income) loss attributable to noncontrolling interests | 0 | 0 | ||||||
| Net income (loss) attributable to RenaissanceRe | 210,179 | (239,283) | ||||||
| Dividends on preference shares | (8,750) | (8,750) | ||||||
| Net income (loss) available (attributable) to RenaissanceRe common shareholders | 201,429 | (248,033) | ||||||
|
RenRe North America Holdings Inc. (Subsidiary Issuer) [Member]
|
||||||||
| Revenues | ||||||||
| Net premiums earned | 0 | 0 | ||||||
| Net investment income | 269 | 16 | ||||||
| Net foreign exchange (losses) gains | 0 | 0 | ||||||
| Equity in earnings (losses) of other ventures | 0 | 0 | ||||||
| Other income (loss) | 0 | 0 | ||||||
| Net realized and unrealized gains (losses) on investments | 1,044 | 0 | ||||||
| Net other-than-temporary impairments | 0 | |||||||
| Total revenues | 1,313 | 16 | ||||||
| Expenses | ||||||||
| Net claims and claim expenses incurred | 0 | 0 | ||||||
| Acquisition expenses | 0 | 0 | ||||||
| Operational expenses | 2,008 | 1,502 | ||||||
| Corporate expenses | 93 | 61 | ||||||
| Interest expense | 3,617 | 3,718 | ||||||
| Total expenses | 5,718 | 5,281 | ||||||
| Income (loss) before equity in net income (loss) of subsidiaries and taxes | (4,405) | (5,265) | ||||||
| Equity in net income (loss) of subsidiaries | (30,268) | 1,836 | ||||||
| Income (loss) from continuing operations before taxes | (34,673) | (3,429) | ||||||
| Income tax benefit (expense) | (2,568) | 1,565 | ||||||
| Income (loss) from continuing operations | (37,241) | (1,864) | ||||||
| Loss from discontinued operations | (173) | (1,526) | ||||||
| Net income (loss) | (37,414) | (3,390) | ||||||
| Net (income) loss attributable to noncontrolling interests | 0 | 0 | ||||||
| Net income (loss) attributable to RenaissanceRe | (37,414) | (3,390) | ||||||
| Dividends on preference shares | 0 | 0 | ||||||
| Net income (loss) available (attributable) to RenaissanceRe common shareholders | (37,414) | (3,390) | ||||||
|
Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-Guarantor Subsidiaries) [Member]
|
||||||||
| Revenues | ||||||||
| Net premiums earned | 278,665 | [1] | 305,541 | [1] | ||||
| Net investment income | 64,359 | [1] | 55,202 | [1] | ||||
| Net foreign exchange (losses) gains | (1,480) | [1] | 569 | [1] | ||||
| Equity in earnings (losses) of other ventures | 5,470 | [1] | (23,753) | [1] | ||||
| Other income (loss) | (39,186) | [1] | 49,979 | [1] | ||||
| Net realized and unrealized gains (losses) on investments | 41,557 | [1] | (4,222) | [1] | ||||
| Net other-than-temporary impairments | (134) | [1] | ||||||
| Total revenues | 349,251 | [1] | 383,316 | [1] | ||||
| Expenses | ||||||||
| Net claims and claim expenses incurred | 15,552 | [1] | 628,537 | [1] | ||||
| Acquisition expenses | 24,111 | [1] | 32,335 | [1] | ||||
| Operational expenses | 41,686 | [1] | 41,548 | [1] | ||||
| Corporate expenses | 540 | [1] | (38) | [1] | ||||
| Interest expense | 632 | [1] | 1,109 | [1] | ||||
| Total expenses | 82,521 | [1] | 703,491 | [1] | ||||
| Income (loss) before equity in net income (loss) of subsidiaries and taxes | 266,730 | [1] | (320,175) | [1] | ||||
| Equity in net income (loss) of subsidiaries | 0 | [1] | 0 | [1] | ||||
| Income (loss) from continuing operations before taxes | 266,730 | [1] | (320,175) | [1] | ||||
| Income tax benefit (expense) | 2,605 | [1] | (1,803) | [1] | ||||
| Income (loss) from continuing operations | 269,335 | [1] | (321,978) | [1] | ||||
| Loss from discontinued operations | 0 | [1] | 0 | [1] | ||||
| Net income (loss) | 269,335 | [1] | (321,978) | [1] | ||||
| Net (income) loss attributable to noncontrolling interests | (53,641) | [1] | 85,492 | [1] | ||||
| Net income (loss) attributable to RenaissanceRe | 215,694 | [1] | (236,486) | [1] | ||||
| Dividends on preference shares | 0 | [1] | 0 | [1] | ||||
| Net income (loss) available (attributable) to RenaissanceRe common shareholders | 215,694 | [1] | (236,486) | [1] | ||||
|
Consolidating Adjustments [Member]
|
||||||||
| Revenues | ||||||||
| Net premiums earned | 0 | [2] | 0 | [2] | ||||
| Net investment income | (2,105) | [2] | (101) | [2] | ||||
| Net foreign exchange (losses) gains | 0 | [2] | 0 | [2] | ||||
| Equity in earnings (losses) of other ventures | 0 | [2] | 0 | [2] | ||||
| Other income (loss) | 0 | [2] | 0 | [2] | ||||
| Net realized and unrealized gains (losses) on investments | 0 | [2] | 0 | [2] | ||||
| Net other-than-temporary impairments | 0 | [2] | ||||||
| Total revenues | (2,105) | [2] | (101) | [2] | ||||
| Expenses | ||||||||
| Net claims and claim expenses incurred | 0 | [2] | 0 | [2] | ||||
| Acquisition expenses | 0 | [2] | 0 | [2] | ||||
| Operational expenses | 0 | [2] | 0 | [2] | ||||
| Corporate expenses | 0 | [2] | 0 | [2] | ||||
| Interest expense | 0 | [2] | (3,607) | [2] | ||||
| Total expenses | 0 | [2] | (3,607) | [2] | ||||
| Income (loss) before equity in net income (loss) of subsidiaries and taxes | (2,105) | [2] | 3,506 | [2] | ||||
| Equity in net income (loss) of subsidiaries | (176,175) | [2] | 236,370 | [2] | ||||
| Income (loss) from continuing operations before taxes | (178,280) | [2] | 239,876 | [2] | ||||
| Income tax benefit (expense) | 0 | [2] | 0 | [2] | ||||
| Income (loss) from continuing operations | (178,280) | [2] | 239,876 | [2] | ||||
| Loss from discontinued operations | 0 | [2] | 0 | [2] | ||||
| Net income (loss) | (178,280) | [2] | 239,876 | [2] | ||||
| Net (income) loss attributable to noncontrolling interests | 0 | [2] | 0 | [2] | ||||
| Net income (loss) attributable to RenaissanceRe | (178,280) | [2] | 239,876 | [2] | ||||
| Dividends on preference shares | 0 | [2] | 0 | [2] | ||||
| Net income (loss) available (attributable) to RenaissanceRe common shareholders | $ (178,280) | [2] | $ 239,876 | [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 Comprehensive Income (Loss) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Net income (loss) | $ 263,820 | $ (324,775) | ||||||
| Change in net unrealized gains on investments | 1,255 | [1] | 19 | [1] | ||||
| Portion of other-than-temporary impairments recognized in other comprehensive income | (27) | [1] | 0 | [1] | ||||
| Comprehensive income (loss) | 265,048 | (324,756) | ||||||
| Net (income) loss attributable to noncontrolling interests | (53,641) | 85,492 | ||||||
| Change in net unrealized gains on fixed maturity investments available for sale attributable to noncontrolling interests | 0 | [1] | 3 | [1] | ||||
| Comprehensive (income) loss attributable to noncontrolling interests | (53,641) | 85,495 | ||||||
| Comprehensive income (loss) attributable to RenaissanceRe | 211,407 | (239,261) | ||||||
|
RenaissanceRe Holdings Ltd. (Parent Guarantor) [Member]
|
||||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Net income (loss) | 210,179 | (239,283) | ||||||
| Change in net unrealized gains on investments | 0 | 0 | ||||||
| Portion of other-than-temporary impairments recognized in other comprehensive income | 0 | 0 | ||||||
| Comprehensive income (loss) | 210,179 | (239,283) | ||||||
| Net (income) loss attributable to noncontrolling interests | 0 | 0 | ||||||
| Change in net unrealized gains on fixed maturity investments available for sale attributable to noncontrolling interests | 0 | 0 | ||||||
| Comprehensive (income) loss attributable to noncontrolling interests | 0 | 0 | ||||||
| Comprehensive income (loss) attributable to RenaissanceRe | 210,179 | (239,283) | ||||||
|
RenRe North America Holdings Inc. (Subsidiary Issuer) [Member]
|
||||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Net income (loss) | (37,414) | (3,390) | ||||||
| Change in net unrealized gains on investments | 0 | 0 | ||||||
| Portion of other-than-temporary impairments recognized in other comprehensive income | 0 | 0 | ||||||
| Comprehensive income (loss) | (37,414) | (3,390) | ||||||
| Net (income) loss attributable to noncontrolling interests | 0 | 0 | ||||||
| Change in net unrealized gains on fixed maturity investments available for sale attributable to noncontrolling interests | 0 | 0 | ||||||
| Comprehensive (income) loss attributable to noncontrolling interests | 0 | 0 | ||||||
| Comprehensive income (loss) attributable to RenaissanceRe | (37,414) | (3,390) | ||||||
|
Other RenaissanceRe Holdings Ltd. Subsidiaries And Eliminations (Non-Guarantor Subsidiaries) [Member]
|
||||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Net income (loss) | 269,335 | [1] | (321,978) | [1] | ||||
| Change in net unrealized gains on investments | 1,255 | 19 | ||||||
| Portion of other-than-temporary impairments recognized in other comprehensive income | (27) | 0 | ||||||
| Comprehensive income (loss) | 270,563 | [1] | (321,959) | [1] | ||||
| Net (income) loss attributable to noncontrolling interests | (53,641) | [1] | 85,492 | [1] | ||||
| Change in net unrealized gains on fixed maturity investments available for sale attributable to noncontrolling interests | 0 | 3 | ||||||
| Comprehensive (income) loss attributable to noncontrolling interests | (53,641) | [1] | 85,495 | [1] | ||||
| Comprehensive income (loss) attributable to RenaissanceRe | 216,922 | [1] | (236,464) | [1] | ||||
|
Consolidating Adjustments [Member]
|
||||||||
| Condensed Financial Statements, Captions [Line Items] | ||||||||
| Net income (loss) | (178,280) | [2] | 239,876 | [2] | ||||
| Change in net unrealized gains on investments | 0 | [2] | 0 | [2] | ||||
| Portion of other-than-temporary impairments recognized in other comprehensive income | 0 | [2] | 0 | [2] | ||||
| Comprehensive income (loss) | (178,280) | [2] | 239,876 | [2] | ||||
| Net (income) loss attributable to noncontrolling interests | 0 | [2] | 0 | [2] | ||||
| Change in net unrealized gains on fixed maturity investments available for sale attributable to noncontrolling interests | 0 | [2] | 0 | [2] | ||||
| Comprehensive (income) loss attributable to noncontrolling interests | 0 | [2] | 0 | [2] | ||||
| Comprehensive income (loss) attributable to RenaissanceRe | $ (178,280) | [2] | $ 239,876 | [2] | ||||
|
||||||||
| 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 | ||||||||||
|
- 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
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
|
|
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 |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
|||||
| Cash flows provided by (used in) operating activities: | ||||||
| Net cash (used in) provided by operating activities | $ 171,104 | $ (6,297) | ||||
| Cash flows provided by (used in) investing activities | ||||||
| Proceeds from sales and maturities of fixed maturity investments trading | 2,656,296 | 1,628,600 | ||||
| Purchases of fixed maturity investments trading | (2,551,249) | (1,414,735) | ||||
| Proceeds from sales and maturities of fixed maturity investments available for sale | 20,385 | 13,984 | ||||
| Purchases of equity investments trading | 0 | (12,108) | ||||
| Net (purchases) sales of short term investments | (305,867) | (249,878) | ||||
| Net sales of other investments | (9,663) | 38,083 | ||||
| Net purchases of investments in other ventures | 0 | (21,000) | ||||
| Net sales of other assets | 125 | 47,400 | ||||
| Dividends and return of capital from subsidiaries | 0 | 0 | ||||
| Contributions to subsidiaries | 0 | 0 | ||||
| Due to (from) subsidiary | 0 | 0 | ||||
| Net proceeds from sale of discontinued operations held for sale | 0 | 269,520 | ||||
| Net cash provided by (used in) investing activities | (189,973) | 299,866 | ||||
| Cash flows (used in) provided by financing activities | ||||||
| Dividends paid - RenaissanceRe common shares | (13,886) | (13,361) | ||||
| Dividends paid - preference shares | (8,750) | (8,750) | ||||
| RenaissanceRe common share repurchases | (3,635) | (174,792) | ||||
| Net repayment of debt | 0 | |||||
| Third party DaVinciRe share repurchases | 88,146 | (124,047) | ||||
| Net cash (used in) provided by financing activities | 61,875 | (320,950) | ||||
| Effect of exchange rate changes on foreign currency cash | 992 | 2,274 | ||||
| Net increase (decrease) in cash and cash equivalents | 43,998 | (25,107) | ||||
| Cash and cash equivalents, beginning of period | 216,984 | 277,738 | ||||
| Cash and cash equivalents, end of period | 260,982 | 252,631 | ||||
|
RenaissanceRe Holdings Ltd. (Parent Guarantor) [Member]
|
||||||
| Cash flows provided by (used in) operating activities: | ||||||
| Net cash (used in) provided by operating activities | (74) | 108,624 | ||||
| Cash flows provided by (used in) investing activities | ||||||
| Proceeds from sales and maturities of fixed maturity investments trading | 382,538 | 11,399 | ||||
| Purchases of fixed maturity investments trading | (302,878) | (13,899) | ||||
| Proceeds from sales and maturities of fixed maturity investments available for sale | 0 | 0 | ||||
| Purchases of equity investments trading | 0 | |||||
| Net (purchases) sales of short term investments | (43,739) | (68,731) | ||||
| Net sales of other investments | 0 | (1,029) | ||||
| Net purchases of investments in other ventures | 0 | |||||
| Net sales of other assets | 0 | 0 | ||||
| Dividends and return of capital from subsidiaries | 185,961 | 190,771 | ||||
| Contributions to subsidiaries | (200,769) | (85,586) | ||||
| Due to (from) subsidiary | 7,965 | 49,605 | ||||
| Net proceeds from sale of discontinued operations held for sale | 0 | |||||
| Net cash provided by (used in) investing activities | 29,078 | 82,530 | ||||
| Cash flows (used in) provided by financing activities | ||||||
| Dividends paid - RenaissanceRe common shares | (13,886) | (13,361) | ||||
| Dividends paid - preference shares | (8,750) | (8,750) | ||||
| RenaissanceRe common share repurchases | (3,635) | (174,792) | ||||
| Net repayment of debt | 3,506 | |||||
| Third party DaVinciRe share repurchases | 0 | 0 | ||||
| Net cash (used in) provided by financing activities | (26,271) | (193,397) | ||||
| Effect of exchange rate changes on foreign currency cash | 0 | 0 | ||||
| Net increase (decrease) in cash and cash equivalents | 2,733 | (2,243) | ||||
| Cash and cash equivalents, beginning of period | 10,606 | 3,414 | ||||
| Cash and cash equivalents, end of period | 13,339 | 1,171 | ||||
|
RenRe North America Holdings Inc. (Subsidiary Issuer) [Member]
|
||||||
| Cash flows provided by (used in) operating activities: | ||||||
| Net cash (used in) provided by operating activities | (11,568) | (21,049) | ||||
| Cash flows provided by (used in) investing activities | ||||||
| Proceeds from sales and maturities of fixed maturity investments trading | 92,508 | 0 | ||||
| Purchases of fixed maturity investments trading | (49,796) | 0 | ||||
| Proceeds from sales and maturities of fixed maturity investments available for sale | 0 | 0 | ||||
| Purchases of equity investments trading | 0 | |||||
| Net (purchases) sales of short term investments | (1,729) | (129,698) | ||||
| Net sales of other investments | 0 | 0 | ||||
| Net purchases of investments in other ventures | 0 | |||||
| Net sales of other assets | 0 | 0 | ||||
| Dividends and return of capital from subsidiaries | 4,299 | 5,205 | ||||
| Contributions to subsidiaries | (36,700) | 0 | ||||
| Due to (from) subsidiary | (1,194) | 2,429 | ||||
| Net proceeds from sale of discontinued operations held for sale | 269,520 | |||||
| Net cash provided by (used in) investing activities | 7,388 | 147,456 | ||||
| Cash flows (used in) provided by financing activities | ||||||
| Dividends paid - RenaissanceRe common shares | 0 | 0 | ||||
| Dividends paid - preference shares | 0 | 0 | ||||
| RenaissanceRe common share repurchases | 0 | 0 | ||||
| Net repayment of debt | (125,018) | |||||
| Third party DaVinciRe share repurchases | 0 | 0 | ||||
| Net cash (used in) provided by financing activities | 0 | (125,018) | ||||
| Effect of exchange rate changes on foreign currency cash | 0 | 0 | ||||
| Net increase (decrease) in cash and cash equivalents | (4,180) | 1,389 | ||||
| Cash and cash equivalents, beginning of period | 4,920 | 3,940 | ||||
| Cash and cash equivalents, end of period | 740 | 5,329 | ||||
|
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 | 182,746 | [1] | (93,872) | [1] | ||
| Cash flows provided by (used in) investing activities | ||||||
| Proceeds from sales and maturities of fixed maturity investments trading | 2,181,250 | [1] | 1,617,201 | [1] | ||
| Purchases of fixed maturity investments trading | (2,198,575) | [1] | (1,400,836) | [1] | ||
| Proceeds from sales and maturities of fixed maturity investments available for sale | 20,385 | [1] | 13,984 | [1] | ||
| Purchases of equity investments trading | (12,108) | [1] | ||||
| Net (purchases) sales of short term investments | (260,399) | [1] | (51,449) | [1] | ||
| Net sales of other investments | (9,663) | [1] | 39,112 | [1] | ||
| Net purchases of investments in other ventures | (21,000) | [1] | ||||
| Net sales of other assets | 125 | [1] | 47,400 | [1] | ||
| Dividends and return of capital from subsidiaries | (190,260) | [1] | (195,976) | [1] | ||
| Contributions to subsidiaries | 237,469 | [1] | 85,586 | [1] | ||
| Due to (from) subsidiary | (6,771) | [1] | (52,034) | [1] | ||
| Net proceeds from sale of discontinued operations held for sale | 0 | [1] | ||||
| Net cash provided by (used in) investing activities | (226,439) | [1] | 69,880 | [1] | ||
| Cash flows (used in) provided by financing activities | ||||||
| Dividends paid - RenaissanceRe common shares | 0 | [1] | 0 | [1] | ||
| Dividends paid - preference shares | 0 | [1] | 0 | [1] | ||
| RenaissanceRe common share repurchases | 0 | [1] | 0 | [1] | ||
| Net repayment of debt | 121,512 | [1] | ||||
| Third party DaVinciRe share repurchases | 88,146 | [1] | (124,047) | [1] | ||
| Net cash (used in) provided by financing activities | 88,146 | [1] | (2,535) | [1] | ||
| Effect of exchange rate changes on foreign currency cash | 992 | [1] | 2,274 | [1] | ||
| Net increase (decrease) in cash and cash equivalents | 45,445 | [1] | (24,253) | [1] | ||
| Cash and cash equivalents, beginning of period | 201,458 | [1] | 270,384 | [1] | ||
| Cash and cash equivalents, end of period | $ 246,903 | [1] | $ 246,131 | [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
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
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 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 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 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 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.
|