| ASSETS |
| Fixed maturity investments available for sale, at fair value (amortized cost: 2011: $318,711; 2010: $828,544) |
| Fixed maturity investments trading, at fair value |
6.46B |
| Equity securities trading, at fair value |
593.56M |
| Other invested assets trading, at fair value |
838.6M |
| Total investments |
7.89B |
| Cash and cash equivalents |
662.58M |
| Restricted cash |
66.7M |
| Insurance balances receivable |
667.5M |
| Prepaid reinsurance |
292.57M |
| Reinsurance recoverable |
1.16B |
| Accrued investment income |
28.44M |
| Net deferred acquisition costs |
142.15M |
| Goodwill |
268.38M |
| Intangible assets |
50.73M |
| Balances receivable on sale of investments |
219.26M |
| Net deferred tax assets |
| Other assets |
65.17M |
| Total assets |
11.92B |
| LIABILITIES: |
| Reserve for losses and loss expenses |
| Unearned premiums |
1.47B |
| Reinsurance balances payable |
118.46M |
| Balances due on purchases of investments |
354.29M |
| Senior notes |
798.28M |
| Accounts payable and accrued liabilities |
74.85M |
| Total liabilities |
8.48B |
| SHAREHOLDERS' EQUITY: |
| Common shares: par value CHF 15.00 per share (2011: 40,003,642; 2010: 40,003,642 shares issued and 2011: 37,945,043; 2010: 38,089,226 shares outstanding) |
436.59M |
| Additional paid-in capital |
| Treasury shares, at cost (2011: 2,058,599; 2010: 1,914,416) |
-96.35M |
| Retained earnings |
3.09B |
| Accumulated other comprehensive income: net unrealized gains on investments, net of tax |
| Total shareholders' equity |
3.43B |
| Total liabilities and shareholders' equity |
11.92B |
