Partnerre (PREJF) 10-Q1 Aug 142014 Q2 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2014	Jul. 28, 2014
Document And Entity Information [Abstract]	'	'
Document type	'10-Q	'
Document period end date	30-Jun-14	'
Amendment flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Entity registrant name	'PARTNERRE LTD.	'
Entity central index key	'0000911421	'
Entity current reporting status	'Yes	'
Entity voluntary filers	'No	'
Current fiscal year end date	'--12-31	'
Entity filer category	'Large Accelerated Filer	'
Entity well known seasoned issuer	'Yes	'
Entity common stock shares outstanding	'	49,690,065

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Assets	'	'
Fixed maturities, at fair value (amortized cost: 2014, $13,546,261; 2013, $13,376,455)	$14,006,770	$13,593,303
Short-term investments, at fair value (amortized cost: 2014, $31,851; 2013, $13,543)	31,849	13,546
Equities, at fair value (cost: 2014, $1,024,756; 2013, $1,009,286)	1,253,082	1,221,053
Other invested assets	293,127	320,981
Total investments	15,584,828	15,148,883
Funds held - directly managed (cost: 2014, $661,069; 2013, $778,569)	669,713	785,768
Cash and cash equivalents	1,208,220	1,496,485
Accrued investment income	170,508	185,717
Reinsurance balances receivable	3,015,727	2,465,713
Reinsurance recoverable on paid and unpaid losses	358,804	308,892
Funds held by reinsured companies	863,491	843,081
Deferred acquisition costs	755,769	644,952
Deposit assets	95,133	351,905
Net tax assets	23,231	14,133
Goodwill	456,380	456,380
Intangible assets	173,085	187,090
Other assets	71,584	149,296
Total assets	23,446,473	23,038,295
Liabilities	'	'
Unpaid losses and loss expenses	10,399,775	10,646,318
Policy benefits for life and annuity contracts	2,127,412	1,974,133
Unearned premiums	2,357,544	1,723,767
Other reinsurance balances payable	254,750	202,549
Deposit liabilities	74,265	328,588
Net tax liabilities	237,302	284,442
Accounts payable, accrued expenses and other	217,033	291,350
Debt related to senior notes	750,000	750,000
Debt related to capital efficient notes	70,989	70,989
Total liabilities	16,489,070	16,272,136
Shareholders' Equity	'	'
Common shares (par value $1.00; issued: 2014, 87,107,093 shares; 2013, 86,657,045 shares)	87,107	86,657
Preferred shares (par value $1.00; issued and outstanding: 2014 and 2013, 34,150,000 shares; aggregate liquidation value: 2014 and 2013, $853,750)	34,150	34,150
Additional paid-in capital	3,928,468	3,901,627
Accumulated other comprehensive loss	-10,898	-12,238
Retained earnings	5,891,822	5,406,797
Common shares held in treasury, at cost (2014, 37,284,611 shares; 2013, 34,213,611 shares)	-3,020,602	-2,707,461
Total shareholders' equity attributable to PartnerRe Ltd.	6,910,047	6,709,532
Noncontrolling interests	47,356	56,627
Total shareholders' equity	6,957,403	6,766,159
Total liabilities and shareholders' equity	$23,446,473	$23,038,295

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parentheticals) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Assets	'	'
Fixed maturities, amortized cost	$13,546,261	$13,376,455
Short-term investments, amortized cost	31,851	13,543
Equities, cost	1,024,756	1,009,286
Funds held - directly managed, cost	661,069	778,569
Shareholders' Equity	'	'
Common shares, par value	$1	$1
Common shares, shares issued	87,107,093	86,657,045
Preferred shares, par value	$1	$1
Number of preferred shares issued	34,150,000	34,150,000
Preferred shares, shares outstanding	34,150,000	34,150,000
Aggregate liquidation value	$853,750	$853,750
Common shares held in treasury, shares	37,284,611	34,213,611

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (USD $)	3 Months Ended				6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Revenues	'		'		'		'
Gross premiums written	$1,462,307		$1,340,582		$3,334,047		$3,097,467
Net premiums written	1,418,665		1,309,318		3,157,159		2,945,750
Increase in unearned premiums	-65,596		-100,682		-550,308		-590,434
Net premiums earned	1,353,069		1,208,636		2,606,851		2,355,316
Net investment income	129,967		124,503		246,834		248,207
Net realized and unrealized investment gains (losses)	165,717		-299,215		307,888		-276,272
Other income	9,265		3,878		9,669		7,805
Total revenues	1,658,018		1,037,802		3,171,242		2,335,056
Expenses	'		'		'		'
Losses and loss expenses and life policy benefits	883,846		866,843		1,633,303		1,527,794
Acquisition costs	302,573		241,743		567,181		475,942
Other operating expenses	107,072		144,833		218,534		260,874
Interest expense	12,240		12,232		24,477		24,460
Amortization of intangible assets	7,003		7,045		14,005		14,091
Net foreign exchange (gains) losses	-2,023		10,584		-2,693		8,543
Total expenses	1,310,711		1,283,280		2,454,807		2,311,704
Income (loss) before taxes and interest in earnings (losses) of equity method investments	347,307		-245,478		716,435		23,352
Income tax expense (benefit)	78,440		-74,569		140,746		-32,894
Interest in earnings (losses) of equity method investments	4,925		-3,479		10,989		3,736
Net income (loss)	273,792		-174,388		586,678		59,982
Net income attributable to noncontrolling interests	-1,951		-1,183		-4,995		-1,183
Net income (loss) attributable to PartnerRe Ltd.	271,841		-175,571		581,683		58,799
Preferred dividends	14,184		14,796		28,367		29,494
Loss on redemption of preferred shares	0		0		0		9,135
Net income (loss) attributable to PartnerRe Ltd. common shareholders	257,657		-190,367		553,316		20,170
Comprehensive income (loss)	'		'		'		'
Net income (loss) attributable to PartnerRe Ltd.	271,841		-175,571		581,683		58,799
Change in currency translation adjustment	17,020		-11,514		1,797		-31,344
Change in unfunded pension obligation, net of tax	-9		-130		-10		866
Change in unrealized losses on investments, net of tax	-222		-230		-447		-463
Total other comprehensive income (loss), net of tax	16,789		-11,874		1,340		-30,941
Comprehensive income (loss) attributable to PartnerRe Ltd.	$288,630		($187,445)		$583,023		$27,858
Per share data attributable to PartnerRe Ltd.common shareholders	'		'		'		'
Basic net income (loss)	$5.13		($3.37)		$10.86		$0.35
Diluted net income (loss)	$5.02	[1],[2]	($3.37)	[1],[2]	$10.64	[1],[2]	$0.34	[1],[2]
Weighted average number of common shares outstanding	50,241,216		56,485,882		50,942,980		57,449,528
Weighted average number of common shares and common share equivalents outstanding	51,328,761		56,485,882		52,024,451		58,534,526
Dividends declared per common share	$0.67		$0.64		$1.34		$1.28

[1]	Where the exercise price of share based awards is greater than the average market price of the common shares, the common shares are considered anti-dilutive and are excluded from the calculation of weighted average number of common shares and common share equivalents outstanding - diluted.
[2]	Dilutive securities, in the form of share options and other, of 1,003,849 shares were not included in the weighted average number of common shares and common share equivalents outstanding - diluted, for the purpose of computing the diluted net loss per share because to do so would have been anti-dilutive for the three months ended JuneB 30, 2013.

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Shareholders' Equity (USD $)	Total	Common Shares [Member]	Preferred shares	Additional Paid-in Capital [Member]	Accumulated other comprehensive loss [Member]	Accumulated other comprehensive loss [Member]	Accumulated other comprehensive loss [Member]	Accumulated other comprehensive loss [Member]	Retained Earnings [Member]	Common shares held in treasury [Member]	Noncontrolling Interest [Member]
In Thousands	Total	Common Shares [Member]	Preferred shares	Additional Paid-in Capital [Member]	Accumulated other comprehensive loss [Member]	Currency translation adjustment [Member]	Unfunded pension obligation [Member]	Unrealized gain on investments [Member]	Retained Earnings [Member]	Common shares held in treasury [Member]	Noncontrolling Interest [Member]
Balance at beginning of period at Dec. 31, 2012	'	$85,460	$35,750	$3,861,844	$10,597	$32,755	($27,370)	$5,212	$4,952,002	($2,012,157)	'
Issuance of common shares	'	905	'	48,278	'	'	'	'	'	'	'
Issuance of preferred shares	'	'	10,000	231,265	'	'	'	'	'	'	'
Redemption of preferred shares	'	'	-11,600	-269,265	'	'	'	'	'	'	'
Change in currency translation adjustment	-31,344	'	'	'	'	-31,344	'	'	'	'	'
Change in unfunded pension obligation, net of tax	866	'	'	'	'	'	866	'	'	'	'
Change in unrealized losses on investments, net of tax	-463	'	'	'	'	'	'	-463	'	'	'
Net income	59,982	'	'	'	'	'	'	'	59,982	'	'
Net income attributable to noncontrolling interests	1,183	'	'	'	'	'	'	'	-1,183	'	'
Dividends on common shares	'	'	'	'	'	'	'	'	-73,800	'	'
Dividends on preferred shares	-29,494	'	'	'	'	'	'	'	-29,494	'	'
Loss on redemption of preferred shares	-9,135	'	'	'	'	'	'	'	-9,135	'	'
Repurchase of common shares	'	'	'	'	'	'	'	'	'	-491,551	'
Noncontrolling interests	'	'	'	'	'	'	'	'	'	'	48,319
Total shareholders' equity	6,415,276	'	'	'	'	'	'	'	'	'	'
Balance at end of period at Jun. 30, 2013	6,366,957	86,365	34,150	3,872,122	-20,344	1,411	-26,504	4,749	4,898,372	-2,503,708	'
Balance at beginning of period at Mar. 31, 2013	'	'	'	'	'	'	'	'	'	'	'
Change in currency translation adjustment	-11,514	'	'	'	'	'	'	'	'	'	'
Change in unfunded pension obligation, net of tax	-130	'	'	'	'	'	'	'	'	'	'
Change in unrealized losses on investments, net of tax	-230	'	'	'	'	'	'	'	'	'	'
Net income	-174,388	'	'	'	'	'	'	'	'	'	'
Net income attributable to noncontrolling interests	1,183	'	'	'	'	'	'	'	'	'	'
Dividends on preferred shares	-14,796	'	'	'	'	'	'	'	'	'	'
Loss on redemption of preferred shares	0	'	'	'	'	'	'	'	'	'	'
Noncontrolling interests	'	'	'	'	'	'	'	'	'	'	48,319
Total shareholders' equity	6,415,276	'	'	'	'	'	'	'	'	'	'
Balance at end of period at Jun. 30, 2013	6,366,957	'	'	'	-20,344	'	'	'	'	'	'
Balance at beginning of period at Dec. 31, 2013	6,709,532	86,657	34,150	3,901,627	-12,238	977	-17,509	4,294	5,406,797	-2,707,461	'
Issuance of common shares	'	450	'	26,841	'	'	'	'	'	'	'
Issuance of preferred shares	'	'	0	0	'	'	'	'	'	'	'
Redemption of preferred shares	'	'	0	0	'	'	'	'	'	'	'
Change in currency translation adjustment	1,797	'	'	'	'	1,797	'	'	'	'	'
Change in unfunded pension obligation, net of tax	-10	'	'	'	'	'	-10	'	'	'	'
Change in unrealized losses on investments, net of tax	-447	'	'	'	'	'	'	-447	'	'	'
Net income	586,678	'	'	'	'	'	'	'	586,678	'	'
Net income attributable to noncontrolling interests	4,995	'	'	'	'	'	'	'	-4,995	'	'
Dividends on common shares	'	'	'	'	'	'	'	'	-68,291	'	'
Dividends on preferred shares	-28,367	'	'	'	'	'	'	'	-28,367	'	'
Loss on redemption of preferred shares	0	'	'	'	'	'	'	'	0	'	'
Repurchase of common shares	'	'	'	'	'	'	'	'	'	-313,141	'
Noncontrolling interests	47,356	'	'	'	'	'	'	'	'	'	47,356
Total shareholders' equity	6,957,403	'	'	'	'	'	'	'	'	'	'
Balance at end of period at Jun. 30, 2014	6,910,047	87,107	34,150	3,928,468	-10,898	2,774	-17,519	3,847	5,891,822	-3,020,602	'
Balance at beginning of period at Mar. 31, 2014	'	'	'	'	'	'	'	'	'	'	'
Change in currency translation adjustment	17,020	'	'	'	'	'	'	'	'	'	'
Change in unfunded pension obligation, net of tax	-9	'	'	'	'	'	'	'	'	'	'
Change in unrealized losses on investments, net of tax	-222	'	'	'	'	'	'	'	'	'	'
Net income	273,792	'	'	'	'	'	'	'	'	'	'
Net income attributable to noncontrolling interests	1,951	'	'	'	'	'	'	'	'	'	'
Dividends on preferred shares	-14,184	'	'	'	'	'	'	'	'	'	'
Loss on redemption of preferred shares	0	'	'	'	'	'	'	'	'	'	'
Noncontrolling interests	47,356	'	'	'	'	'	'	'	'	'	47,356
Total shareholders' equity	6,957,403	'	'	'	'	'	'	'	'	'	'
Balance at end of period at Jun. 30, 2014	$6,910,047	'	'	'	($10,898)	'	'	'	'	'	'

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Shareholders' Equity (Parentheticals) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Unfunded pension obligation [Member]	'	'
Shareholders Equity Parentheticals	'	'
Balance at end of period, unfunded pension obligation, tax impact	$5,034,000	$7,494,000
Unrealized gain on investments [Member]	'	'
Shareholders Equity Parentheticals	'	'
Balance at end of period, unrealized gain on investments, tax impact	$0	$0

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities	'	'
Net income	$586,678	$59,982
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Amortization of net premium on investments	54,783	82,147
Amortization of intangible assets	14,005	14,091
Net realized and unrealized investment (gains) losses	-307,888	276,272
Changes in:	'	'
Reinsurance balances, net	-518,432	-555,356
Reinsurance recoverable on paid and unpaid losses, net of ceded premiums payable	46,768	101,696
Funds held by reinsured companies and funds held - directly managed	115,224	62,440
Deferred acquisition costs	-105,900	-121,359
Net tax assets and liabilities	-55,879	-144,342
Unpaid losses and loss expenses including life policy benefits	-131,400	-181,198
Unearned premiums	550,308	590,434
Other net changes in operating assets and liabilities	-27,380	45,951
Net cash provided by operating activities	220,887	230,758
Cash flows from investing activities	'	'
Redemptions of fixed maturities	338,238	772,227
Payments/ proceeds from trading securities [Line Items]	'	'
Sales and redemptions of short-term investments	31,405	226,390
Purchases of short-term investments	-49,706	-105,446
Other, net	-17,980	-7,122
Net cash (used in) provided by investing activities	-86,452	489,032
Cash flows from financing activities	'	'
Dividends paid to common and preferred shareholders	-96,658	-103,294
Repurchase of common shares	-316,091	-496,023
Issuance of common shares, net of taxes paid	6,156	34,416
Net proceeds from issuance of preferred shares	0	241,265
Repurchase of preferred shares	0	-290,000
(Distribution) sale of shares to noncontrolling interests	-14,266	47,136
Net cash used in financing activities	-420,859	-566,500
Effect of foreign exchange rate changes on cash	-1,841	-13,455
(Decrease) increase in cash and cash equivalents	-288,265	139,835
Cash and cash equivalents - beginning of period	1,496,485	1,121,705
Cash and cash equivalents - end of period	1,208,220	1,261,540
Supplemental cash flow information:	'	'
Taxes paid	195,261	112,671
Interest paid	24,630	24,630
Fixed maturities [Member]	'	'
Payments/ proceeds from trading securities [Line Items]	'	'
Sales of fixed maturities and sales of equities	4,276,812	3,844,517
Purchases of fixed maturities and purchases of equities	-4,683,829	-4,198,801
Equities [Member]	'	'
Payments/ proceeds from trading securities [Line Items]	'	'
Sales of fixed maturities and sales of equities	122,296	539,498
Purchases of fixed maturities and purchases of equities	($103,688)	($582,231)

Organization

Organization	6 Months Ended
Organization	Jun. 30, 2014
Disclosure - Organization [Abstract]	'
Organization	'
	1. Organization
	PartnerRe Ltd. (PartnerRe or the Company) predominantly provides reinsurance and certain specialty insurance lines on a worldwide basis through its principal wholly-owned subsidiaries, including Partner Reinsurance Company Ltd. (PartnerRe Bermuda), Partner Reinsurance Europe SE and Partner Reinsurance Company of the U.S. Risks reinsured include, but are not limited to, property, casualty, motor, agriculture, aviation/space, catastrophe, credit/surety, engineering, energy, marine, specialty property, specialty casualty, multiline and other lines, mortality, longevity, accident and health and alternative risk products. The Company’s alternative risk products include weather and credit protection to financial, industrial and service companies on a worldwide basis.
	Effective December 31, 2012, the Company completed the acquisition of Presidio Reinsurance Group, Inc. (subsequently renamed and referred to as PartnerRe Health), a California-based U.S. specialty accident and health reinsurance and insurance writer. The Condensed Consolidated Statements of Operations and Cash Flows include PartnerRe Health’s results from January 1, 2013.

Significant_Accounting_Policie

Significant Accounting Policies	6 Months Ended
Significant Accounting Policies	Jun. 30, 2014
Disclosure - Significant Accounting Policies [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
	2. Significant Accounting Policies
	The Company’s Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. The Condensed Consolidated Financial Statements include the accounts of the Company and its subsidiaries. Intercompany accounts and transactions have been eliminated.
	The preparation of financial statements in conformity with U.S. GAAP requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. While Management believes that the amounts included in the Condensed Consolidated Financial Statements reflect its best estimates and assumptions, actual results could differ from those estimates. The Company’s principal estimates include:

	•	Unpaid losses and loss expenses;

	•	Policy benefits for life and annuity contracts;

	•	Gross and net premiums written and net premiums earned;

	•	Recoverability of deferred acquisition costs;

	•	Recoverability of deferred tax assets;

	•	Valuation of goodwill and intangible assets; and

	•	Valuation of certain assets and derivative financial instruments that are measured using significant unobservable inputs.
	In the opinion of Management, all adjustments (which include normal recurring adjustments) necessary for a fair presentation of results for the interim periods have been made. As the Company’s reinsurance operations are exposed to low-frequency, high-severity risk events, some of which are seasonal, results for certain interim periods may include unusually low loss experience, while results for other interim periods may include significant catastrophic losses. Consequently, the Company’s results for interim periods are not necessarily indicative of results for the full year. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	6 Months Ended
Recent Accounting Pronouncements	Jun. 30, 2014
Recent Accounting Pronouncements [Abstract]	'
Recent Accounting Pronouncements	'
	3. Recent Accounting Pronouncements
	In January 2014, the Financial Accounting Standards Board (FASB) issued updated guidance on the accounting for investments in affordable housing projects that qualify for low-income housing tax credits by entities that manage or invest in such projects. The update modifies the conditions that an entity must meet to elect the effective yield or proportional amortization method to account for such investments. The guidance is effective for interim and annual periods beginning after December 15, 2014, with early adoption permitted. The Company does not expect the adoption of this guidance to have a significant impact on its Consolidated Financial Statements or disclosures.
	In June 2014, the FASB issued updated guidance on the accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The guidance is effective for interim and annual periods beginning after December 15, 2015, with early adoption permitted. The Company does not expect the adoption of this guidance to have a significant impact on its Consolidated Financial Statements or disclosures.

Fair_Value

Fair Value	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	4. Fair Value
	(a) Fair Value of Financial Instrument Assets
	The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value by maximizing the use of observable inputs and minimizing the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing an asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about what market participants would use in pricing the asset or liability based on the best information available in the circumstances. The level in the hierarchy within which a given fair value measurement falls is determined based on the lowest level input that is significant to the measurement.
	The Company determines the appropriate level in the hierarchy for each financial instrument that it measures at fair value. In determining fair value, the Company uses various valuation approaches, including market, income and cost approaches. The hierarchy is broken down into three levels based on the observability of inputs as follows:


	•	Level 1 inputs—Unadjusted, quoted prices in active markets for identical assets or liabilities that the Company has the ability to access.
	The Company’s financial instruments that it measures at fair value using Level 1 inputs generally include: equities and real estate investment trusts listed on a major exchange, exchange traded funds and exchange traded derivatives, including futures that are actively traded.


	•	Level 2 inputs—Quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in inactive markets and significant directly or indirectly observable inputs, other than quoted prices, used in industry accepted models.
	The Company’s financial instruments that it measures at fair value using Level 2 inputs generally include: U.S. government issued bonds; U.S. government sponsored enterprises bonds; U.S. state, territory and municipal entities bonds; non-U.S. sovereign government, supranational and government related bonds consisting primarily of bonds issued by non-U.S. national governments and their agencies, non-U.S. regional governments and supranational organizations; investment grade and high yield corporate bonds; catastrophe bonds; mortality bonds; asset-backed securities; mortgage-backed securities; certain equities traded on foreign exchanges; certain fixed income mutual funds; foreign exchange forward contracts; over-the-counter derivatives such as foreign currency option contracts, credit default swaps, interest rate swaps and to-be-announced mortgage-backed securities (TBAs).


	•	Level 3 inputs—Unobservable inputs.
	The Company’s financial instruments that it measures at fair value using Level 3 inputs generally include: inactively traded fixed maturities including U.S. state, territory and municipal bonds; privately issued corporate securities; special purpose financing asset-backed bonds; unlisted equities; real estate and certain other mutual fund investments; inactively traded weather derivatives; notes and loan receivables, notes securitizations, annuities and residuals, private equities and longevity and other total return swaps.
	The Company’s policy is to recognize transfers between the hierarchy levels at the beginning of the period.
	The Company’s financial instruments measured at fair value include investments and the segregated investment portfolio underlying the funds held – directly managed account. At June 30, 2014 and December 31, 2013, the Company’s financial instruments measured at fair value were classified between Levels 1, 2 and 3 as follows (in thousands of U.S. dollars):


	30-Jun-14		Quoted prices in				Significant				Significant				Total
			active markets for				other observable				unobservable
			identical assets				inputs				inputs
			(Level 1)				(Level 2)				(Level 3)
	Fixed maturities
	U.S. government and government sponsored enterprises		$	—			$	1,855,443			$	—			$	1,855,443

	U.S. states, territories and municipalities		—				97,830				123,617				221,447

	Non-U.S. sovereign government, supranational and government related		—				2,288,627				—				2,288,627

	Corporate		—				5,980,652				—				5,980,652

	Asset-backed securities		—				725,466				489,106				1,214,572

	Residential mortgage-backed securities		—				2,394,941				—				2,394,941

	Other mortgage-backed securities		—				51,088				—				51,088

	Fixed maturities		$	—			$	13,394,047			$	612,723			$	14,006,770

	Short-term investments		$	—			$	31,849			$	—			$	31,849

	Equities
	Real estate investment trusts		$	224,501			$	—			$	—			$	224,501

	Energy		154,368				—				—				154,368

	Finance		98,254				9,718				19,564				127,536

	Insurance		122,864				—				—				122,864

	Consumer noncyclical		100,022				—				—				100,022

	Communications		78,556				—				2,067				80,623

	Technology		52,429				—				7,645				60,074

	Industrials		49,759				—				—				49,759

	Consumer cyclical		41,279				—				—				41,279

	Utilities		35,141				—				—				35,141

Other		19,845				—				7				19,852

Mutual funds and exchange traded funds		47,003				181,814				8,246				237,063

Equities		$	1,024,021			$	191,532			$	37,529			$	1,253,082

Other invested assets
Derivative assets
Foreign exchange forward contracts		$	—			$	2,410			$	—			$	2,410

Foreign currency option contracts		—				746				—				746

Futures contracts		2,706				—				—				2,706

Total return swaps		—				—				408				408

TBAs		—				1,728				—				1,728

Other
Notes and loan receivables and notes securitization		—				—				38,603				38,603

Annuities and residuals		—				—				17,134				17,134

Private equities		—				—				54,928				54,928

Derivative liabilities
Foreign exchange forward contracts		—				(4,171		)		—				(4,171		)

Futures contracts		(407		)		—				—				(407		)

Insurance-linked securities		—				—				(950		)		(950		)

Total return swaps		—				—				(310		)		(310		)

Interest rate swaps		—				(9,145		)		—				(9,145		)

Other invested assets		$	2,299			$	(8,432	)		$	109,813			$	103,680

Funds held – directly managed
U.S. government and government sponsored enterprises		$	—			$	154,590			$	—			$	154,590

U.S. states, territories and municipalities		—				—				305				305

Non-U.S. sovereign government, supranational and government related		—				128,323				—				128,323

Corporate		—				214,482				—				214,482

Other invested assets		—				—				15,800				15,800

Funds held – directly managed		$	—			$	497,395			$	16,105			$	513,500

Total		$	1,026,320			$	14,106,391			$	776,170			$	15,908,881



31-Dec-13		Quoted prices in				Significant other				Significant				Total
		active markets for				observable				unobservable
		identical assets				inputs				inputs
		(Level 1)				(Level 2)				(Level 3)
Fixed maturities
U.S. government and government sponsored enterprises		$	—			$	1,623,859			$	—			$	1,623,859

U.S. states, territories and municipalities		—				16,207				108,380				124,587

Non-U.S. sovereign government, supranational and government related		—				2,353,699				—				2,353,699

Corporate		—				6,048,663				—				6,048,663

Asset-backed securities		—				691,654				446,577				1,138,231

Residential mortgage-backed securities		—				2,268,517				—				2,268,517

Other mortgage-backed securities		—				35,747				—				35,747

Fixed maturities		$	—			$	13,038,346			$	554,957			$	13,593,303

Short-term investments		$	—			$	13,546			$	—			$	13,546

Equities
Real estate investment trusts		$	175,796			$	—			$	—			$	175,796

Energy		159,509				—				—				159,509

Insurance		144,020				—				—				144,020

Finance		108,944				9,556				20,207				138,707

Consumer noncyclical		108,663				—				—				108,663

Communications		70,792				—				2,199				72,991

Technology		53,768				—				7,752				61,520

Industrials		47,677				—				—				47,677

Consumer cyclical		45,915				—				—				45,915

Utilities		37,151				—				—				37,151

Other		19,993				—				—				19,993

Mutual funds and exchange traded funds		61,902				139,322				7,887				209,111

Equities		$	1,034,130			$	148,878			$	38,045			$	1,221,053

Other invested assets
Derivative assets
Foreign exchange forward contracts		$	—			$	1,249			$	—			$	1,249

Futures contracts		41,031				—				—				41,031

Total return swaps		—				—				79				79

Interest rate swaps		—				2,147				—				2,147

TBAs		—				2				—				2

Other
Notes and loan receivables and notes securitization		—				—				41,446				41,446

Annuities and residuals		—				—				24,064				24,064

Private equities		—				—				39,131				39,131

Derivative liabilities
Foreign exchange forward contracts		—				(8,648		)		—				(8,648		)

Foreign currency option contracts		—				(535		)		—				(535		)

Credit default swaps (protection purchased)		—				(71		)		—				(71		)

Insurance-linked securities		—				—				(268		)		(268		)

Total return swaps		—				—				(599		)		(599		)

Interest rate swaps		—				(2,558		)		—				(2,558		)

TBAs		—				(1,331		)		—				(1,331		)

Other invested assets		$	41,031			$	(9,745	)		$	103,853			$	135,139

Funds held – directly managed
U.S. government and government sponsored enterprises		$	—			$	157,296			$	—			$	157,296

U.S. states, territories and municipalities		—				—				286				286

Non-U.S. sovereign government, supranational and government related		—				137,186				—				137,186

Corporate		—				248,947				—				248,947

Short-term investments		—				2,426				—				2,426

Other invested assets		—				—				15,165				15,165

Funds held – directly managed		$	—			$	545,855			$	15,451			$	561,306

Total		$	1,075,161			$	13,736,880			$	712,306			$	15,524,347

At June 30, 2014 and December 31, 2013, the aggregate carrying amounts of items included in Other invested assets that the Company did not measure at fair value were $189.4 million and $185.8 million, respectively, which related to the Company’s investments that are accounted for using the cost method of accounting or equity method of accounting.
In addition to the investments underlying the funds held – directly managed account held at fair value of $513.5 million and $561.3 million at June 30, 2014 and December 31, 2013, respectively, the funds held – directly managed account also included cash and cash equivalents, carried at fair value, of $41.0 million and $84.8 million, respectively, and accrued investment income of $6.2 million and $6.7 million, respectively. At June 30, 2014 and December 31, 2013, the aggregate carrying amounts of items included in the funds held – directly managed account that the Company did not measure at fair value were $109.0 million and $133.0 million, respectively, which primarily related to other assets and liabilities held by Colisée Re related to the underlying business, which are carried at cost (see Note 5 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013).
At June 30, 2014 and December 31, 2013, substantially all of the accrued investment income in the Condensed Consolidated Balance Sheets relate to the Company’s investments and the investments underlying the funds held – directly managed account for which the fair value option was elected.
During the three months and six months ended June 30, 2014 and 2013, there were no transfers between Level 1 and Level 2.
Disclosures about the fair value of financial instruments that the Company does not measure at fair value exclude insurance contracts and certain other financial instruments. At June 30, 2014 and December 31, 2013, the fair values of financial instrument assets recorded in the Condensed Consolidated Balance Sheets not described above, approximate their carrying values.
The reconciliations of the beginning and ending balances for all financial instruments measured at fair value using Level 3 inputs for the three months ended June 30, 2014 and 2013, were as follows (in thousands of U.S. dollars):



For the three months ended June 30, 2014		Balance at				Realized and				Purchases				Settlements			Net		Balance			Change in
		beginning				unrealized				and				and			transfers		at end			unrealized
		of period				investment				issuances (1)				sales			into/		of period			investment
						gains (losses)											(out of)					gains (losses)
						included in											Level 3					relating to
						net income																assets held at
																						end of period
Fixed maturities
U.S. states, territories and municipalities		$	113,467			$	5,960			$	4,260			$	(70	)	$	—	$	123,617		$	5,959

Asset-backed securities		447,701				3,141				68,035				(29,771		)	—		489,106			3,184

Fixed maturities		$	561,168			$	9,101			$	72,295			$	(29,841	)	$	—	$	612,723		$	9,143

Equities
Finance		$	22,706			$	(3,142	)		$	—			$	—		$	—	$	19,564		$	(3,142	)

Communications		2,111				(44		)		—				—			—		2,067			(44		)

Technology		7,400				245				—				—			—		7,645			245

Other		—				(1		)		8				—			—		7			(1		)

Mutual funds and exchange traded funds		8,053				193				—				—			—		8,246			193

Equities		$	40,270			$	(2,749	)		$	8			$	—		$	—	$	37,529		$	(2,749	)

Other invested assets
Derivatives, net		$	(1,042	)		$	398			$	(208	)		$	—		$	—	$	(852	)	$	398

Notes and loan receivables and notes securitization		42,243				2,967				2,196				(8,803		)	—		38,603			4,486

Annuities and residuals		18,945				302				—				(2,113		)	—		17,134			303

Private equities		42,655				(2,264		)		15,478				(941		)	—		54,928			(2,264		)

Other invested assets		$	102,801			$	1,403			$	17,466			$	(11,857	)	$	—	$	109,813		$	2,923

Funds held – directly managed
U.S. states, territories and municipalities		$	301			$	4			$	—			$	—		$	—	$	305		$	4

Other invested assets		15,223				577				—				—			—		15,800			577

Funds held – directly managed		$	15,524			$	581			$	—			$	—		$	—	$	16,105		$	581

Total		$	719,763			$	8,336			$	89,769			$	(41,698	)	$	—	$	776,170		$	9,898





-1	Purchases and issuances of derivatives include issuances of $0.2 million.


For the three months ended June 30, 2013		Balance at				Realized and				Purchases				Settlements			Net		Balance			Change in
		beginning				unrealized				and				and			transfers		at end of			unrealized
		of period				investment				issuances (1)				sales			into/(out of)		period			investment
						(losses) gains											Level 3					(losses) gains
						included in																relating to
						net loss																assets held at
																						end of period
Fixed maturities
U.S. states, territories and municipalities		$	232,292			$	(13,009	)		$	—			$	(120	)	$	—	$	219,163		$	(13,009	)

Corporate		100,716				(820		)		—				—			—		99,896			(820		)

Asset-backed securities		325,659				(6,063		)		128,009				(21,317		)	—		426,288			(5,921		)

Fixed maturities		$	658,667			$	(19,892	)		$	128,009			$	(21,437	)	$	—	$	745,347		$	(19,750	)

Equities
Finance		$	12,553			$	447			$	—			$	—		$	—	$	13,000		$	447

Technology		7,647				365				—				—			—		8,012			365

Communications		—				—				2,040				—			—		2,040			—

Mutual funds and exchange traded funds		7,442				107				—				—			—		7,549			107

Equities		$	27,642			$	919			$	2,040			$	—		$	—	$	30,601		$	919

Other invested assets
Derivatives, net		$	2,732			$	(520	)		$	121			$	—		$	—	$	2,333		$	(3,020	)

Notes and loan receivables and notes securitization		34,058				(1,322		)		11,990				(502		)	—		44,224			(1,322		)

Annuities and residuals		35,656				(243		)		—				(4,858		)	—		30,555			(510		)

Private equities		17,764				(447		)		3,783				—			—		21,100			(447		)

Other invested assets		$	90,210			$	(2,532	)		$	15,894			$	(5,360	)	$	—	$	98,212		$	(5,299	)

Funds held – directly managed
U.S. states, territories and municipalities		$	341			$	(4	)		$	—			$	—		$	—	$	337		$	(4	)

Other invested assets		15,468				(261		)		—				—			—		15,207			(261		)

Funds held – directly managed		$	15,809			$	(265	)		$	—			$	—		$	—	$	15,544		$	(265	)

Total		$	792,328			$	(21,770	)		$	145,943			$	(26,797	)	$	—	$	889,704		$	(24,395	)






-1	Purchases and issuances of derivatives include issuances of $0.8 million.
The reconciliations of the beginning and ending balances for all financial instruments measured at fair value using Level 3 inputs for the six months ended June 30, 2014 and 2013, were as follows (in thousands of U.S. dollars):



For the six months ended June 30, 2014		Balance at				Realized and				Purchases				Settlements			Net		Balance			Change in
		beginning				unrealized				and				and			transfers		at end of			unrealized
		of period				investment				issuances (1)				sales			into/(out of)		period			investment gains (losses)
						gains (losses)											Level 3					relating to
						included in																assets held at
						net income																end of period
Fixed maturities
U.S. states, territories and municipalities		$	108,380			$	6,852			$	8,525			$	(140	)	$	—	$	123,617		$	6,849

Asset-backed securities		446,577				9,137				127,453				(94,061		)	—		489,106			9,444

Fixed maturities		$	554,957			$	15,989			$	135,978			$	(94,201	)	$	—	$	612,723		$	16,293

Equities
Finance		$	20,207			$	(643	)		$	—			$	—		$	—	$	19,564		$	(643	)

Communications		2,199				(132		)		—				—			—		2,067			(132		)

Technology		7,752				(107		)		—				—			—		7,645			(107		)

Other		—				(1		)		8				—			—		7			(1		)

Mutual funds and exchange traded funds		7,887				359				—				—			—		8,246			359

Equities		$	38,045			$	(524	)		$	8			$	—		$	—	$	37,529		$	(524	)

Other invested assets
Derivatives, net		$	(788	)		$	864			$	(928	)		$	—		$	—	$	(852	)	$	864

Notes and loan receivables and notes securitization		41,446				3,567				2,916				(9,326		)	—		38,603			5,086

Annuities and residuals		24,064				391				—				(7,321		)	—		17,134			431

Private equities		39,131				(1,831		)		20,544				(2,916		)	—		54,928			(1,863		)

Other invested assets		$	103,853			$	2,991			$	22,532			$	(19,563	)	$	—	$	109,813		$	4,518

Funds held – directly managed
U.S. states, territories and municipalities		$	286			$	19			$	—			$	—		$	—	$	305		$	19

Other invested assets		15,165				380				255				—			—		15,800			380

Funds held – directly managed		$	15,451			$	399			$	255			$	—		$	—	$	16,105		$	399

Total		$	712,306			$	18,855			$	158,773			$	(113,764	)	$	—	$	776,170		$	20,686






-1	Purchases and issuances of derivatives include issuances of $0.9 million.



For the six months ended June 30, 2013		Balance at				Realized and				Purchases				Settlements			Net		Balance			Change in
		beginning				unrealized				and				and			transfers		at end of			unrealized
		of period				investment				issuances (1)				sales (2)			into/(out of)		period			investment
						(losses) gains											Level 3					(losses) gains relating to
						included in																assets held at
						net income																end of period
Fixed maturities
U.S. states, territories and municipalities		$	233,235			$	(13,858	)		$	—			$	(214	)	$	—	$	219,163		$	(13,858	)

Corporate		100,904				(1,008		)		—				—			—		99,896			(1,008		)

Asset-backed securities		323,134				(4,322		)		155,165				(47,689		)	—		426,288			(4,140		)

Fixed maturities		$	657,273			$	(19,188	)		$	155,165			$	(47,903	)	$	—	$	745,347		$	(19,006	)

Equities
Finance		$	13,477			$	(477	)		$	—			$	—		$	—	$	13,000		$	(477	)

Technology		6,987				1,025				—				—			—		8,012			1,025

Communications		—				—				2,040				—			—		2,040			—

Mutual funds and exchange traded funds		7,264				285				—				—			—		7,549			285

Equities		$	27,728			$	833			$	2,040			$	—		$	—	$	30,601		$	833

Other invested assets
Derivatives, net		$	3,911			$	(4,199	)		$	121			$	2,500		$	—	$	2,333		$	(3,698	)

Notes and loan receivables and notes securitization		34,902				(1,383		)		13,350				(2,645		)	—		44,224			(1,383		)

Annuities and residuals		46,882				93				—				(16,420		)	—		30,555			316

Private equities		1,404				(3,512		)		23,208				—			—		21,100			(3,512		)

Other invested assets		$	87,099			$	(9,001	)		$	36,679			$	(16,565	)	$	—	$	98,212		$	(8,277	)

Funds held – directly managed
U.S. states, territories and municipalities		$	345			$	(8	)		$	—			$	—		$	—	$	337		$	(8	)

Other invested assets		17,976				(2,698		)		—				(71		)	—		15,207			(1,634		)

Funds held – directly managed		$	18,321			$	(2,706	)		$	—			$	(71	)	$	—	$	15,544		$	(1,642	)

Total		$	790,421			$	(30,062	)		$	193,884			$	(64,539	)	$	—	$	889,704		$	(28,092	)






-1	Purchases and issuances of derivatives include issuances of $0.8 million.

-2	Settlement and sales of annuities and residuals include sales of $6.3 million.

The significant unobservable inputs used in the valuation of financial instruments measured at fair value using Level 3 inputs at June 30, 2014 and December 31, 2013 were as follows (fair value in thousands of U.S. dollars):


30-Jun-14		Fair value				Valuation techniques		Unobservable inputs		Range
										(Weighted average)
Fixed maturities
U.S. states, territories and municipalities		$	123,617			Discounted cash flow		Credit spreads		2.6% – 10.0% (5.2%)

Asset-backed securities – interest only		11				Discounted cash flow		Credit spreads		5.2% – 10.3% (6.9%)

Asset-backed securities – other		489,095				Discounted cash flow		Credit spreads		3.9% – 12.0% (6.8%)

Equities
Finance		13,782				Weighted market comparables		Net income multiple		19.0 (19.0)

								Tangible book value multiple		1.3 (1.3)
								Liquidity discount		25.0% (25.0%)
								Comparable return		0% (0%)
Finance		5,782				Profitability analysis		Projected return on equity		14.0% (14.0%)

Communications		2,067				Weighted market comparables		Adjusted earnings multiple		9.4 (9.4)

								Comparable return		-6.0% (-6.0%)
Technology		7,645				Weighted market comparables		Revenue multiple		1.5 (1.5)

								Adjusted earnings multiple		9.0 (9.0)
Other invested assets
Total return swaps		98				Discounted cash flow		Credit spreads		3.7% – 17.4% (9.6%)

Notes and loan receivables		16,984				Discounted cash flow		Credit spreads		17.5% (17.5%)

								Gross revenue/fair value		1.3 – 1.5 (1.5)
Notes securitization		21,619				Discounted cash flow		Credit spreads		4.0% – 5.9% (5.8%)

Annuities and residuals		17,134				Discounted cash flow		Credit spreads		4.0% – 7.4% (5.9%)

								Prepayment speed		0% – 15.0% (5.6%)
								Constant default rate		0.3% – 23.0% (8.2%)
Private equity – direct		10,657				Discounted cash flow and weighted market comparables		Net income multiple		9.2 (9.2)

								Tangible book value multiple		1.6 (1.6)
								Recoverability of intangible assets		0% (0%)
Private equity funds		14,447				Lag reported market value		Net asset value, as reported		100.0% (100.0%)

								Market adjustments		1.0% – 6.1% (2.4%)
Private equity – other		29,824				Discounted cash flow		Effective yield		5.8% (5.8%)

Funds held – directly managed
Other invested assets		15,800				Lag reported market value		Net asset value, as reported		100.0% (100.0%)

								Market adjustments		-18.7% – 0% (-12.4%)


December 31, 2013		Fair value				Valuation techniques		Unobservable inputs		Range
										(Weighted average)
Fixed maturities
U.S. states, territories and municipalities		$	108,380			Discounted cash flow		Credit spreads		2.9% – 9.9% (5.3%)

Asset-backed securities – interest only		21				Discounted cash flow		Credit spreads		5.5% – 10.7% (8.8%)

Asset-backed securities – other		446,556				Discounted cash flow		Credit spreads		4.0% – 12.2% (7.1%)

Equities
Finance		15,483				Weighted market comparables		Net income multiple		14.6 (14.6)

								Tangible book value multiple		1.1 (1.1)
								Liquidity discount		25.0% (25.0%)
								Comparable return		8.5% (8.5%)
Finance		4,724				Profitability analysis		Projected return on equity		14.0% (14.0%)

Communications		2,199				Weighted market comparables		Adjusted earnings multiple		9.4 (9.4)

								Comparable return		0% (0%)
Technology		7,752				Weighted market comparables		Revenue multiple		0.9 (0.9)

								Adjusted earnings multiple		4.4 (4.4)
Other invested assets
Total return swaps		(520		)		Discounted cash flow		Credit spreads		2.8% – 18.9% (17.0%)
Notes and loan receivables		21,280				Discounted cash flow		Credit spreads		17.5% (17.5%)

								Gross revenue/fair value		1.5 (1.5)
Notes securitization		20,166				Discounted cash flow		Credit spreads		6.2% (6.2%)

Annuities and residuals		24,064				Discounted cash flow		Credit spreads		4.0% – 7.9% (5.8%)

								Prepayment speed		0% – 15.0% (6.4%)
								Constant default rate		0.3% – 35.0% (12.4%)
Private equity – direct		11,742				Discounted cash flow and weighted market comparables		Net income multiple		8.3 (8.3)

								Tangible book value multiple		1.6 (1.6)
								Recoverability of intangible assets		0% (0%)
Private equity funds		8,993				Lag reported market value		Net asset value, as reported		100.0% (100.0%)

								Market adjustments		1.8% – 9.8% (8.3%)
Private equity – other		18,396				Discounted cash flow		Credit spreads		3.8% (3.8%)

Funds held – directly managed
Other invested assets		15,165				Lag reported market value		Net asset value, as reported		100.0% (100.0%)

								Market adjustments		-22.9% – 0% (-15.5%)
The tables above do not include financial instruments that are measured using unobservable inputs (Level 3) where the unobservable inputs were obtained from external sources and used without adjustment. These financial instruments include mutual fund investments (included within equities).
The Company has established a Valuation Committee which is responsible for determining the Company’s invested asset valuation policy and related procedures, for reviewing significant changes in the fair value measurements of securities classified as Level 3 from period to period, and for reviewing in accordance with the invested asset valuation policy an independent internal peer analysis that is performed on the fair value measurements of significant securities that are classified as Level 3. The Valuation Committee is comprised of members of the Company’s senior management team and meets on a quarterly basis. The Company’s invested asset valuation policy is monitored by the Company’s Audit Committee of the Board of Directors (Board) and approved annually by the Company’s Risk and Finance Committee of the Board.
Changes in the fair value of the Company’s financial instruments subject to the fair value option during the three months and six months ended June 30, 2014 and 2013 were as follows (in thousands of U.S. dollars):


	For the three months ended June 30, 2014				For the three months ended June 30, 2013				For the six months ended June 30, 2014				For the six months ended June 30, 2013
Fixed maturities and short-term investments	$	123,434			$	(395,757	)		$	243,233			$	(467,427	)

Equities	6,322				(57,715		)		16,647				(7,649		)

Other invested assets	2,515				(2,234		)		3,558				(7,068		)

Funds held – directly managed	741				(15,372		)		1,477				(21,415		)

Total	$	133,012			$	(471,078	)		$	264,915			$	(503,559	)

Substantially all of the above changes in fair value are included in the Condensed Consolidated Statements of Operations under the caption Net realized and unrealized investment gains (losses).
The following methods and assumptions were used by the Company in estimating the fair value of each class of financial instrument recorded in the Condensed Consolidated Balance Sheets. There have been no material changes in the Company’s valuation techniques during the periods presented.
Fixed maturities


•	U.S. government and government sponsored enterprises—U.S. government and government sponsored enterprises securities consist primarily of bonds issued by the U.S. Treasury and corporate debt securities issued by government sponsored enterprises and federally owned or established corporations. These securities are generally priced by independent pricing services. The independent pricing services may use actual transaction prices for securities that have been actively traded. For securities that have not been actively traded, each pricing source has its own proprietary method to determine the fair value, which may incorporate option adjusted spreads (OAS), interest rate data and market news. The Company generally classifies these securities in Level 2.

•	U.S. states, territories and municipalities—U.S. states, territories and municipalities securities consist primarily of bonds issued by U.S. states, territories and municipalities and the Federal Home Loan Mortgage Corporation. These securities are generally priced by independent pricing services using the techniques described for U.S. government and government sponsored enterprises above. The Company generally classifies these securities in Level 2. Certain of the bonds that are issued by municipal housing authorities and the Federal Home Loan Mortgage Corporation are not actively traded and are priced based on internal models using unobservable inputs. Accordingly, the Company classifies these securities in Level 3. The significant unobservable input used in the fair value measurement of these U.S. states, territories and municipalities securities classified as Level 3 is credit spreads. A significant increase (decrease) in credit spreads in isolation could result in a significantly lower (higher) fair value measurement.

•	Non-U.S. sovereign government, supranational and government related—Non-U.S. sovereign government, supranational and government related securities consist primarily of bonds issued by non-U.S. national governments and their agencies, non-U.S. regional governments and supranational organizations. These securities are generally priced by independent pricing services using the techniques described for U.S. government and government sponsored enterprises above. The Company generally classifies these securities in Level 2.

•	Corporate—Corporate securities consist primarily of bonds issued by U.S. and foreign corporations covering a variety of industries and issuing countries. These securities are generally priced by independent pricing services and brokers. The pricing provider incorporates information including credit spreads, interest rate data and market news into the valuation of each security. The Company generally classifies these securities in Level 2. When a corporate security is inactively traded or the valuation model uses unobservable inputs, the Company classifies the security in Level 3.

•	Asset-backed securities—Asset-backed securities primarily consist of bonds issued by U.S. and foreign corporations that are predominantly backed by student loans, automobile loans, credit card receivables, equipment leases, and special purpose financing. With the exception of special purpose financing, these asset-backed securities are generally priced by independent pricing services and brokers. The pricing provider applies dealer quotes and other available trade information, prepayment speeds, yield curves and credit spreads to the valuation. The Company generally classifies these securities in Level 2. Special purpose financing securities are generally inactively traded and are priced based on valuation models using unobservable inputs. The Company generally classifies these securities in Level 3. The significant unobservable input used in the fair value measurement of these asset-backed securities classified as Level 3 is credit spreads. Significant increases (decreases) in credit spreads in isolation could result in a significantly lower (higher) fair value measurement.

•	Residential mortgage-backed securities—Residential mortgage-backed securities primarily consist of bonds issued by the Government National Mortgage Association, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, as well as private, non-agency issuers. These residential mortgage-backed securities are generally priced by independent pricing services and brokers. When current market trades are not available, the pricing provider or the Company will employ proprietary models with observable inputs including other trade information, prepayment speeds, yield curves and credit spreads. The Company generally classifies these securities in Level 2.

•	Other mortgage-backed securities—Other mortgage-backed securities primarily consist of commercial mortgage-backed securities. These securities are generally priced by independent pricing services and brokers. The pricing provider applies dealer quotes and other available trade information, prepayment speeds, yield curves and credit spreads to the valuation. The Company generally classifies these securities in Level 2.
In general, the methods employed by the independent pricing services to determine the fair value of the securities that have not been actively traded primarily involve the use of “matrix pricing” in which the independent pricing source applies the credit spread for a comparable security that has traded recently to the current yield curve to determine a reasonable fair value. The Company uses a pricing service ranking to consistently select the most appropriate pricing service in instances where it receives multiple quotes on the same security. When fair values are unavailable from these independent pricing sources, quotes are obtained directly from broker-dealers who are active in the corresponding markets. Most of the Company’s fixed maturities are priced from the pricing services or dealer quotes. The Company will typically not make adjustments to prices received from pricing services or dealer quotes; however, in instances where the quoted external price for a security uses significant unobservable inputs, the Company will classify that security as Level 3. The methods used to develop and substantiate the unobservable inputs used are based on the Company’s valuation policy and are dependent upon the facts and circumstances surrounding the individual investments which are generally transaction specific. The Company’s inactively traded fixed maturities are classified as Level 3. For all fixed maturity investments, the bid price is used for estimating fair value.
To validate prices, the Company compares the fair value estimates to its knowledge of the current market and will investigate prices that it considers not to be representative of fair value. The Company also reviews an internally generated fixed maturity price validation report which converts prices received for fixed maturity investments from the independent pricing sources and from broker-dealers quotes and plots OAS and duration on a sector and rating basis. The OAS is calculated using established algorithms developed by an independent risk analytics platform vendor. The OAS on the fixed maturity price validation report are compared for securities in a similar sector and having a similar rating, and outliers are identified and investigated for price reasonableness. In addition, the Company completes quantitative analyses to compare the performance of each fixed maturity investment portfolio to the performance of an appropriate benchmark, with significant differences identified and investigated.
Short-term investments
Short-term investments are valued in a manner similar to the Company’s fixed maturity investments and are generally classified in Level 2.
Equities
Equity securities include U.S. and foreign common and preferred stocks, real estate investment trusts, mutual funds and exchange traded funds. Equities, real estate investment trusts and exchange traded funds are generally classified in Level 1 as the Company uses prices received from independent pricing sources based on quoted prices in active markets. Equities classified as Level 2 are generally mutual funds invested in fixed income securities, where the net asset value of the fund is provided on a daily basis, and common stocks traded in inactive markets. Equities classified as Level 3 are generally mutual funds invested in securities other than the common stock of publicly traded companies, where the net asset value is not provided on a daily basis, and inactively traded common stocks. The significant unobservable inputs used in the fair value measurement of inactively traded common stocks classified as Level 3 include market return information, weighted using management’s judgment, from comparable selected publicly traded companies in the same industry, in a similar region and of a similar size, including net income multiples, tangible book value multiples, comparable returns, revenue multiples, adjusted earnings multiples and projected return on equity ratios. Significant increases (decreases) in any of these inputs could result in a significantly higher (lower) fair value measurement. Significant unobservable inputs used in measuring the fair value measurement of inactively traded common stocks also include a liquidity discount. A significant increase (decrease) in the liquidity discount could result in a significantly lower (higher) fair value measurement.
To validate prices, the Company completes quantitative analyses to compare the performance of each equity investment portfolio to the performance of an appropriate benchmark, with significant differences identified and investigated.
Other invested assets
The Company’s exchange traded derivatives, such as futures, are generally classified as Level 1 as their fair values are quoted prices in active markets. The Company’s foreign exchange forward contracts, foreign currency option contracts, credit default swaps, interest rate swaps and TBAs are generally classified as Level 2 within the fair value hierarchy and are priced by independent pricing services.
Included in the Company’s Level 3 classification, in general, are certain inactively traded weather derivatives, notes and loan receivables, notes securitizations, annuities and residuals, private equities and longevity and other total return swaps. For Level 3 instruments, the Company will generally (i) receive a price based on a manager’s or trustee’s valuation for the asset; (ii) develop an internal discounted cash flow model to measure fair value; or (iii) use market return information, adjusted if necessary and weighted using management’s judgment, from comparable selected publicly traded equity funds in a similar region and of a similar size. Where the Company receives prices from the manager or trustee, these prices are based on the manager’s or trustee’s estimate of fair value for the assets and are generally audited on an annual basis. Where the Company develops its own discounted cash flow models, the inputs will be specific to the asset in question, based on appropriate historical information, adjusted as necessary, and using appropriate discount rates. The significant unobservable inputs used in the fair value measurement of other invested assets classified as Level 3 include credit spreads, prepayment speeds, constant default rates, gross revenue to fair value ratios, net income multiples, effective yields, tangible book value multiples and other valuation ratios. Significant increases (decreases) in any of these inputs in isolation could result in a significantly lower (higher) fair value measurement. Significant unobservable inputs used in the fair value measurement of other invested assets classified as Level 3 also include an assessment of the recoverability of intangible assets and market return information, weighted using management’s judgment, from comparable selected publicly traded companies in the same industry, in a similar region and of a similar size. Significant increase (decrease) in these inputs in isolation could result in a significantly higher (lower) fair value measurement. As part of the Company’s modeling to determine the fair value of an investment, the Company considers counterparty credit risk as an input to the model, however, the majority of the Company’s counterparties are investment grade rated institutions and the failure of any one counterparty would not have a significant impact on the Company’s consolidated financial statements.
To validate prices, the Company will compare them to benchmarks, where appropriate, or to the business results generally within that asset class and specifically to those particular assets.
Funds held – directly managed
The segregated investment portfolio underlying the funds held – directly managed account is comprised of fixed maturities and other invested assets which are fair valued on a basis consistent with the methods described above. Substantially all fixed maturities and short-term investments within the funds held – directly managed account are classified as Level 2 within the fair value hierarchy.
The other invested assets within the segregated investment portfolio underlying the funds held – directly managed account, which are classified as Level 3 investments, are primarily real estate mutual fund investments carried at fair value. For the real estate mutual fund investments, the Company receives a price based on the real estate fund manager’s valuation for the asset and further adjusts the price, if necessary, based on appropriate current information on the real estate market. Significant increases (decreases) to the adjustment to the real estate fund manager’s valuation could result in a significantly lower (higher) fair value measurement.
To validate prices within the segregated investment portfolio underlying the funds held – directly managed account, the Company utilizes the methods described above.
(b) Fair Value of Financial Instrument Liabilities
At June 30, 2014 and December 31, 2013, the fair values of financial instrument liabilities recorded in the Condensed Consolidated Balance Sheets approximate their carrying values, with the exception of the debt related to senior notes (Senior Notes) and the debt related to capital efficient notes (CENts).
The methods and assumptions used by the Company in estimating the fair value of each class of financial instrument liability recorded in the Condensed Consolidated Balance Sheets for which the Company does not measure that instrument at fair value were as follows:


•	the fair value of the Senior Notes was calculated based on discounted cash flow models using observable market yields and contractual cash flows based on the aggregate principal amount outstanding of $250 million from PartnerRe Finance A LLC and $500 million from PartnerRe Finance B LLC at June 30, 2014 and December 31, 2013; and

•	the fair value of the CENts was calculated based on discounted cash flow models using observable market yields and contractual cash flows based on the aggregate principal amount outstanding of $63 million from PartnerRe Finance II Inc. at June 30, 2014 and December 31, 2013.
The carrying values and fair values of the Senior Notes and CENts at June 30, 2014 and December 31, 2013 were as follows (in thousands of U.S. dollars):


	30-Jun-14								31-Dec-13
	Carrying Value				Fair Value				Carrying Value				Fair Value
Debt related to senior notes (1)	$	750,000			$	865,321			$	750,000			$	844,331

Debt related to capital efficient notes (2)	63,384				62,015				63,384				61,094






-1	PartnerRe Finance A LLC and PartnerRe Finance B LLC, the issuers of the Senior Notes, do not meet consolidation requirements under U.S. GAAP. Accordingly, the Company shows the related intercompany debt of $750 million in its Condensed Consolidated Balance Sheets at June 30, 2014 and December 31, 2013.

-2	PartnerRe Finance II Inc., the issuer of the CENts, does not meet consolidation requirements under U.S. GAAP. Accordingly, the Company shows the related intercompany debt of $71 million in its Condensed Consolidated Balance Sheets at June 30, 2014 and December 31, 2013.
At June 30, 2014 and December 31, 2013, the Company’s debt related to the Senior Notes and CENts was classified as Level 2 in the fair value hierarchy.
Disclosures about the fair value of financial instrument liabilities exclude insurance contracts and certain other financial instruments.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivative Instruments and Hedging Activities Disclosure [Text Block]	'
	5. Derivatives
	The Company’s derivative instruments are recorded in the Condensed Consolidated Balance Sheets at fair value, with changes in fair value recognized in either net foreign exchange gains and losses or net realized and unrealized investment gains and losses in the Condensed Consolidated Statements of Operations or accumulated other comprehensive income or loss in the Condensed Consolidated Balance Sheets, depending on the nature of the derivative instrument. The Company’s objectives for holding or issuing these derivatives are as follows:
	Foreign Exchange Forward Contracts
	The Company utilizes foreign exchange forward contracts as part of its overall currency risk management and investment strategies. From time to time, the Company also utilizes foreign exchange forward contracts to hedge a portion of its net investment exposure resulting from the translation of its foreign subsidiaries and branches whose functional currency is other than the U.S. dollar.
	Foreign Currency Option Contracts and Futures Contracts
	The Company utilizes foreign currency option contracts to mitigate foreign currency risk. The Company uses exchange traded treasury note futures contracts to manage portfolio duration and equity futures to hedge certain investments.
	Credit Default Swaps
	The Company purchases protection through credit default swaps to mitigate the risk associated with its underwriting operations, most notably in the credit/surety line, and to manage market exposures.
	The Company also assumes credit risk through credit default swaps to replicate investment positions. The original term of these credit default swaps is generally five years or less and there are no recourse provisions associated with these swaps. The counterparties on the Company’s assumed credit default swaps are all investment grade rated financial institutions, however, the Company would be required to perform in the event of a default by the underlying issuer.
	Insurance-Linked Securities
	The Company enters into various weather derivatives and longevity total return swaps for which the underlying risks reference parametric weather risks for the weather derivatives and longevity risk for the longevity total return swaps.
	Total Return and Interest Rate Swaps and Interest Rate Derivatives
	The Company enters into total return swaps referencing various project, investments and principal finance obligations. The Company enters into interest rate swaps to mitigate the interest rate risk on certain of the total return swaps and certain fixed maturity investments. The Company also uses other interest rate derivatives to mitigate exposure to interest rate volatility.
	To-Be-Announced Mortgage-Backed Securities
	The Company utilizes TBAs as part of its overall investment strategy and to enhance investment performance.
	The net fair values and the related net notional values of derivatives included in the Company’s Condensed Consolidated Balance Sheets at June 30, 2014 and December 31, 2013 were as follows (in thousands of U.S. dollars):


			Asset				Liability				Net derivatives
			derivatives				derivatives
	30-Jun-14		at fair value				at fair value				Net notional				Fair value
											exposure
	Foreign exchange forward contracts		$	2,410			$	(4,171	)		$	2,130,049			$	(1,761	)

	Foreign currency option contracts		746				—				85,547				746

	Futures contracts		2,706				(407		)		2,987,520				2,299

	Insurance-linked securities (1)		—				(950		)		170,969				(950		)

	Total return swaps		408				(310		)		42,605				98

	Interest rate swaps (2)		—				(9,145		)		202,116				(9,145		)

	TBAs		1,728				—				154,210				1,728

	Total derivatives		$	7,998			$	(14,983	)						$	(6,985	)




			Asset				Liability				Net derivatives
			derivatives				derivatives
	31-Dec-13		at fair value				at fair value				Net notional				Fair value
											exposure
	Foreign exchange forward contracts		$	1,249			$	(8,648	)		$	1,957,409			$	(7,399	)

	Foreign currency option contracts		—				(535		)		87,620				(535		)

	Futures contracts		41,031				—				3,266,004				41,031

	Credit default swaps (protection purchased)		—				(71		)		14,000				(71		)

	Insurance-linked securities (1)		—				(268		)		168,724				(268		)

	Total return swaps		79				(599		)		31,740				(520		)

	Interest rate swaps (2)		2,147				(2,558		)		202,859				(411		)

	TBAs		2				(1,331		)		183,835				(1,329		)

	Total derivatives		$	44,508			$	(14,010	)						$	30,498






-1	At June 30, 2014 and December 31, 2013, insurance-linked securities include a longevity swap for which the notional amount is not reflective of the overall potential exposure of the swap. As such, the Company has included the probable maximum loss under the swap within the net notional exposure as an approximation of the notional amount.

-2	The Company enters into interest rate swaps to mitigate notional exposures on certain total return swaps and certain fixed maturities. Only the notional value of interest rate swaps on fixed maturities is presented separately in the table.
The fair value of all derivatives at June 30, 2014 and December 31, 2013 is recorded in Other invested assets in the Company’s Condensed Consolidated Balance Sheets. At June 30, 2014 and December 31, 2013, none of the Company’s derivatives were designated as hedges.
The gains and losses in the Condensed Consolidated Statements of Operations for derivatives for the three months and six months ended June 30, 2014 and 2013 were as follows (in thousands of U.S. dollars):



	For the three months ended June 30, 2014				For the three months ended June 30, 2013				For the six months ended June 30, 2014				For the six months ended June 30, 2013

Foreign exchange forward contracts	$	637			$	(54,004	)		$	8,892			$	(36,474	)

Foreign currency option contracts	753				(3,275		)		1,148				(3,840		)

Total included in net foreign exchange gains and losses	$	1,390			$	(57,279	)		$	10,040			$	(40,314	)

Futures contracts	$	(34,428	)		$	91,679			$	(50,501	)		$	85,376

Credit default swaps (protection purchased)	—				(22		)		(3		)		(120		)

Credit default swaps (assumed risks)	—				8				—				115

Insurance-linked securities	13				2,469				256				(550		)

Total return swaps	400				(2,988		)		618				(3,659		)

Interest rate swaps	(3,348		)		2,399				(8,734		)		3,176

TBAs	4,367				(8,363		)		8,114				(9,697		)

Total included in net realized and unrealized investment gains and losses	$	(32,996	)		$	85,182			$	(50,250	)		$	74,641

Total derivatives	$	(31,606	)		$	27,903			$	(40,210	)		$	34,327

Offsetting of Derivatives
The gross and net fair values of derivatives that are subject to offsetting in the Condensed Consolidated Balance Sheets at June 30, 2014 and December 31, 2013 were as follows (in thousands of U.S. dollars):


						Gross				Net amounts of				Gross amounts not offset
						amounts				assets/liabilities				in the balance sheet
						offset in the				presented in the
30-Jun-14		Gross				balance sheet				balance sheet				Financial				Cash collateral		Net amount
		amounts												instruments				received/pledged
		recognized (1)
Total derivative assets		$	7,998			$	—			$	7,998			$	(616	)		$	—	$	7,382

Total derivative liabilities		$	(14,983	)		$	—			$	(14,983	)		$	616			$	—	$	(14,367	)

31-Dec-13
Total derivative assets		$	44,508			$	—			$	44,508			$	(2	)		$	—	$	44,506

Total derivative liabilities		$	(14,010	)		$	—			$	(14,010	)		$	2			$	4,341	$	(9,667	)






-1	Amounts include all derivative instruments, irrespective of whether there is a legally enforceable master netting arrangement in place.

Net_Income_Loss_Per_Share

Net Income (Loss) Per Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Net Income (Loss) Per Share	'
	6. Net Income (Loss) per Share
	The reconciliation of basic and diluted net income (loss) per share for the three months and six months ended June 30, 2014 and 2013 is as follows (in thousands of U.S. dollars, except share and per share data):


		For the three months ended June 30, 2014		For the three months ended June 30, 2013			For the six months ended June 30, 2014		For the six months ended June 30, 2013
	Numerator:
	Net income (loss) attributable to PartnerRe Ltd.	$	271,841	$	(175,571	)	$	581,683	$	58,799

	Less: preferred dividends	14,184		14,796			28,367		29,494

	Less: loss on redemption of preferred shares	—		—			—		9,135

	Net income (loss) attributable to PartnerRe Ltd. common shareholders	$	257,657	$	(190,367	)	$	553,316	$	20,170

	Denominator:
	Weighted number of common shares outstanding – basic	50,241,216		56,485,882			50,942,980		57,449,528

	Share options and other (1) (2)	1,087,545		—			1,081,471		1,084,998

	Weighted average number of common shares and common share equivalents outstanding – diluted	51,328,761		56,485,882			52,024,451		58,534,526

	Basic net income (loss) per share	$	5.13	$	(3.37	)	$	10.86	$	0.35

	Diluted net income (loss) per share (1) (2)	$	5.02	$	(3.37	)	$	10.64	$	0.34


	Anti-dilutive common shares excluded from weighted average number of common shares and common share equivalents outstanding - diluted (1)	149,600		142,479			119,870		104,920






	-1	Where the exercise price of share based awards is greater than the average market price of the common shares, the common shares are considered anti-dilutive and are excluded from the calculation of weighted average number of common shares and common share equivalents outstanding - diluted.

	-2	Dilutive securities, in the form of share options and other, of 1,003,849 shares were not included in the weighted average number of common shares and common share equivalents outstanding - diluted, for the purpose of computing the diluted net loss per share because to do so would have been anti-dilutive for the three months ended June 30, 2013.

Noncontrolling_interests

Noncontrolling interests	6 Months Ended
	Jun. 30, 2014
Noncontrolling Interest [Abstract]	'
Noncontrolling Interest Disclosure [Text Block]	'
	7. Noncontrolling Interests
	In March 2013, the Company formed with other third party investors, Lorenz Re Ltd. (Lorenz Re), a Bermuda domiciled special purpose insurer to provide additional capacity to the Company for a diversified portfolio of catastrophe reinsurance treaties over a multi-year period on a fully collateralized reinsurance basis. The original business was written by the Company and was ceded to Lorenz Re effective April 1, 2013.
	Lorenz Re’s non-voting redeemable preferred share capital is redeemable at the option of the Company and is expected to be redeemed following the commutation of the portfolio back to the Company on or before June 1, 2016.
	At June 30, 2014 and December 31, 2013, the total assets of Lorenz Re were $98.2 million and $99.6 million, respectively, primarily consisting of cash and investments. At June 30, 2014 and December 31, 2013, the total liabilities were $23.5 million and $11.1 million, respectively, primarily consisting of unearned premiums and unpaid losses and loss expenses. The assets of Lorenz Re can only be used to settle the liabilities of Lorenz Re and there is no recourse to the Company for any liabilities of Lorenz Re.
	The reconciliation of the beginning and ending balance of the noncontrolling interests in Lorenz Re for the six months ended June 30, 2014 and 2013 was as follows (in thousands of U.S. dollars):


		For the six months ended June 30, 2014			For the six months ended June 30, 2013
	Balance at beginning of period	$	56,627		$	—

	Net income attributable to noncontrolling interests	4,995			1,183

	Distribution to noncontrolling interests	(14,266		)	—

	Sale of shares to noncontrolling interests	—			47,136

	Balance at end of period	$	47,356		$	48,319

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	8. Commitments and Contingencies
	(a) Concentration of Credit Risk
	Financing receivables
	Included in the Company’s Other invested assets are certain notes receivable which meet the definition of financing receivables and are accounted for using the cost method of accounting. These notes receivable are collateralized by commercial or residential property. The Company utilizes a third party consultant to determine the initial investment criteria and to monitor the subsequent performance of the notes receivable. The process undertaken prior to the investment in these notes receivable includes an examination of the underlying collateral. The Company reviews its receivable positions on at least a quarterly basis using actual redemption experience. At June 30, 2014 and December 31, 2013, based on the latest available information, the Company recorded an allowance for credit losses related to these notes receivable of $2.2 million and $2.8 million, respectively.
	The Company monitors the performance of the notes receivable based on the type of underlying collateral and by assigning a “performing” or a “non-performing” indicator of credit quality to each individual receivable. At June 30, 2014 the Company’s notes receivable of $12.9 million were all performing and were collateralized by residential property and commercial property of $10.9 million and $2.0 million, respectively. At December 31, 2013, the Company’s notes receivable of $24.5 million were all performing and were collateralized by residential property and commercial property of $19.8 million and $4.7 million, respectively.
	The Company purchased $2.2 million and $2.3 million of financing receivables during the three months and six months ended June 30, 2014, respectively. The Company purchased $27.0 million and $27.2 million of financing receivables during the three months and six months ended June 30, 2013, respectively. There were no significant sales of financing receivables during the three months and six months ended June 30, 2014 and 2013, however, the outstanding balances were reduced by settlements of the underlying debt.
	(b) Legal Proceedings
	There has been no significant change in legal proceedings at June 30, 2014 compared to December 31, 2013. See Note 18(f) to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.
	(c) Other
	At June 30, 2014, there were no restrictions on the Company’s ability to pay common and preferred shareholders’ dividends from retained earnings. The declaration of dividends by PartnerRe Bermuda is subject to prior regulatory approval through December 31, 2014.

Segment_Information

Segment Information	6 Months Ended
	Jun. 30, 2014
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	9. Segment Information
	The Company monitors the performance of its operations in three segments, Non-life, Life and Health and Corporate and Other as described in Note 21 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. The Non-life segment is further divided into four sub-segments: North America, Global (Non-U.S.) P&C, Global Specialty and Catastrophe.
	The North America sub-segment includes agriculture, casualty, credit/surety, motor, multiline, property and other risks generally originating in the United States. The Global (Non-U.S.) P&C sub-segment includes casualty, motor and property business generally originating outside of the United States. The Global Specialty sub-segment is comprised of business that is generally considered to be specialized due to the sophisticated technical underwriting required to analyze risks, and is global in nature. This sub-segment consists of several lines of business for which the Company believes it has developed specialized knowledge and underwriting capabilities. These lines of business include agriculture, aviation/space, credit/surety, energy, engineering, marine, specialty casualty, specialty property and other lines. The Catastrophe sub-segment is comprised of the Company’s catastrophe line of business. The Life and Health segment includes mortality, longevity and accident and health lines of business. Corporate and Other is comprised of the capital markets and investment related activities of the Company, including principal finance transactions, insurance-linked securities and strategic investments, and its corporate activities, including other operating expenses.
	Since the Company does not manage its assets by segment, net investment income is not allocated to the Non-life segment. However, because of the interest-sensitive nature of some of the Company’s Life and Health products, net investment income is considered in Management’s assessment of the profitability of the Life and Health segment. The following items are not considered in evaluating the results of the Non-life and Life and Health segments: net realized and unrealized investment gains and losses, interest expense, amortization of intangible assets, net foreign exchange gains and losses, income tax expense or benefit and interest in earnings and losses of equity method investments. Segment results are shown before consideration of intercompany transactions.
	Management measures results for the Non-life segment on the basis of the loss ratio, acquisition ratio, technical ratio, other operating expense ratio and combined ratio (all defined below). Management measures results for the Non-life sub-segments on the basis of the loss ratio, acquisition ratio and technical ratio. Management measures results for the Life and Health segment on the basis of the allocated underwriting result, which includes revenues from net premiums earned, other income or loss and allocated net investment income for Life and Health, and expenses from life policy benefits, acquisition costs and other operating expenses.
	The segment results for the three months and six months ended June 30, 2014 and 2013, were as follows (in millions of U.S. dollars, except ratios):
	Segment Information
	For the three months ended June 30, 2014


		North				Global				Global				Catastrophe				Total				Life				Corporate				Total
		America				(Non-U.S.)				Specialty								Non-life				and Health				and Other
						P&C												segment				segment
	Gross premiums written	$	400			$	155			$	438			$	143			$	1,136			$	326			$	—			$	1,462

	Net premiums written	$	392			$	148			$	432			$	136			$	1,108			$	311			$	—			$	1,419

	(Increase) decrease in unearned premiums	(2		)		39				(26		)		(77		)		(66		)		—				—				(66		)

	Net premiums earned	$	390			$	187			$	406			$	59			$	1,042			$	311			$	—			$	1,353

	Losses and loss expenses and life policy benefits	(240		)		(103		)		(270		)		(19		)		(632		)		(252		)		—				(884		)

	Acquisition costs	(102		)		(52		)		(98		)		(8		)		(260		)		(43		)		—				(303		)

	Technical result	$	48			$	32			$	38			$	32			$	150			$	16			$	—			$	166

	Other income																	1				3				5				9

	Other operating expenses																	(61		)		(16		)		(30		)		(107		)
	Underwriting result																	$	90			$	3			n/a				$	68

	Net investment income																					15				115				130

	Allocated underwriting result (1)																					$	18			n/a				n/a

	Net realized and unrealized investment gains																									166				166

	Interest expense																									(12		)		(12		)
	Amortization of intangible assets																									(7		)		(7		)
	Net foreign exchange gains																									2				2

	Income tax expense																									(78		)		(78		)
	Interest in earnings of equity method investments																									5				5

	Net income																									n/a				$	274

	Loss ratio (2)	61.5		%		54.6		%		66.5		%		33.4		%		60.6		%
	Acquisition ratio (3)	26.1				27.9				24.2				13				25

	Technical ratio (4)	87.6		%		82.5		%		90.7		%		46.4		%		85.6		%
	Other operating expense ratio (5)																	5.9

	Combined ratio (6)																	91.5		%





	-1	Allocated underwriting result is defined as net premiums earned, other income or loss and allocated net investment income less life policy benefits, acquisition costs and other operating expenses.

	-2	Loss ratio is obtained by dividing losses and loss expenses by net premiums earned.

-3	Acquisition ratio is obtained by dividing acquisition costs by net premiums earned.

-4	Technical ratio is defined as the sum of the loss ratio and the acquisition ratio.

-5	Other operating expense ratio is obtained by dividing other operating expenses by net premiums earned.

-6	Combined ratio is defined as the sum of the technical ratio and the other operating expense ratio.
Segment Information
For the three months ended June 30, 2013


	North				Global				Global				Catastrophe				Total				Life				Corporate				Total
	America				(Non-U.S.)				Specialty								Non-life				and Health				and Other
					P&C												segment				segment
Gross premiums written	$	372			$	160			$	413			$	161			$	1,106			$	233			$	2			$	1,341

Net premiums written	$	360			$	158			$	409			$	149			$	1,076			$	232			$	1			$	1,309

(Increase) decrease in unearned premiums	(3		)		11				(37		)		(70		)		(99		)		—				(1		)		(100		)

Net premiums earned	$	357			$	169			$	372			$	79			$	977			$	232			$	—			$	1,209

Losses and loss expenses and life policy benefits	(245		)		(106		)		(284		)		(51		)		(686		)		(181		)		—				(867		)

Acquisition costs	(79		)		(34		)		(90		)		(6		)		(209		)		(33		)		—				(242		)

Technical result	$	33			$	29			$	(2	)		$	22			$	82			$	18			$	—			$	100

Other income																	—				3				1				4

Other operating expenses																	(60		)		(17		)		(68		)		(145		)
Underwriting result																	$	22			$	4			n/a				$	(41	)

Net investment income																					15				110				125

Allocated underwriting result																					$	19			n/a				n/a

Net realized and unrealized investment losses																									(299		)		(299		)
Interest expense																									(12		)		(12		)
Amortization of intangible assets																									(7		)		(7		)
Net foreign exchange losses																									(11		)		(11		)
Income tax benefit																									75				75

Interest in losses of equity method investments																									(4		)		(4		)
Net loss																									n/a				$	(174	)

Loss ratio	68.6		%		62.9		%		76.6		%		64.1		%		70.3		%
Acquisition ratio	22.1				19.9				24.1				8.5				21.4

Technical ratio	90.7		%		82.8		%		100.7		%		72.6		%		91.7		%
Other operating expense ratio																	6.1

Combined ratio																	97.8		%

Segment Information
For the six months ended June 30, 2014


	North				Global				Global				Catastrophe				Total				Life				Corporate				Total
	America				(Non-U.S.)				Specialty								Non-life				and Health				and Other
					P&C												segment				segment
Gross premiums written	$	930			$	519			$	917			$	353			$	2,719			$	615			$	—			$	3,334

Net premiums written	$	919			$	508			$	822			$	315			$	2,564			$	593			$	—			$	3,157

Increase in unearned premiums	(151		)		(141		)		(61		)		(177		)		(530		)		(20		)		—				(550		)

Net premiums earned	$	768			$	367			$	761			$	138			$	2,034			$	573			$	—			$	2,607

Losses and loss expenses and life policy benefits	(499		)		(196		)		(471		)		1				(1,165		)		(468		)		—				(1,633		)

Acquisition costs	(194		)		(107		)		(178		)		(15		)		(494		)		(73		)		—				(567		)

Technical result	$	75			$	64			$	112			$	124			$	375			$	32			$	—			$	407

Other income																	2				4				4				10

Other operating expenses																	(126		)		(34		)		(59		)		(219		)
Underwriting result																	$	251			$	2			n/a				$	198

Net investment income																					30				217				247

Allocated underwriting result																					$	32			n/a				n/a

Net realized and unrealized investment gains																									308				308

Interest expense																									(25		)		(25		)
Amortization of intangible assets																									(14		)		(14		)
Net foreign exchange gains																									3				3

Income tax expense																									(141		)		(141		)
Interest in earnings of equity method investments																									11				11

Net income																									n/a				$	587

Loss ratio	65		%		53.5		%		61.9		%		(0.9		)%		57.3		%
Acquisition ratio	25.2				29				23.4				11.4				24.3

Technical ratio	90.2		%		82.5		%		85.3		%		10.5		%		81.6		%
Other operating expense ratio																	6.2

Combined ratio																	87.8		%
Segment Information
For the six months ended June 30, 2013


	North				Global				Global				Catastrophe				Total				Life				Corporate				Total
	America				(Non-U.S.)				Specialty								Non-life				and Health				and Other
					P&C												segment				segment
Gross premiums written	$	819			$	532			$	857			$	399			$	2,607			$	486			$	4			$	3,097

Net premiums written	$	807			$	525			$	771			$	360			$	2,463			$	481			$	2			$	2,946

Increase in unearned premiums	(117		)		(190		)		(62		)		(195		)		(564		)		(25		)		(2		)		(591		)
Net premiums earned	$	690			$	335			$	709			$	165			$	1,899			$	456			$	—			$	2,355

Losses and loss expenses and life policy benefits	(485		)		(173		)		(469		)		(39		)		(1,166		)		(363		)		1				(1,528		)

Acquisition costs	(151		)		(84		)		(165		)		(17		)		(417		)		(59		)		—				(476		)

Technical result	$	54			$	78			$	75			$	109			$	316			$	34			$	1			$	351

Other income																	—				6				2				8

Other operating expenses																	(126		)		(35		)		(100		)		(261		)
Underwriting result																	$	190			$	5			n/a				$	98

Net investment income																					30				218				248

Allocated underwriting result																					$	35			n/a				n/a

Net realized and unrealized investment losses																									(276		)		(276		)
Interest expense																									(24		)		(24		)
Amortization of intangible assets																									(14		)		(14		)
Net foreign exchange losses																									(9		)		(9		)
Income tax benefit																									33				33

Interest in earnings of equity method investments																									4				4

Net income																									n/a				$	60

Loss ratio	70.2		%		51.8		%		66.1		%		23.8		%		61.4		%
Acquisition ratio	21.9				24.9				23.3				10.5				22

Technical ratio	92.1		%		76.7		%		89.4		%		34.3		%		83.4		%
Other operating expense ratio																	6.6

Combined ratio																	90		%

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	6 Months Ended
Significant Accounting Policies (Policies)	Jun. 30, 2014
Disclosure - Significant Accounting Policies [Abstract]	'
Basis of accounting	'
Basis of accounting	The Company’s Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. The Condensed Consolidated Financial Statements include the accounts of the Company and its subsidiaries. Intercompany accounts and transactions have been eliminated.
Use Of Estimates	'
	The preparation of financial statements in conformity with U.S. GAAP requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. While Management believes that the amounts included in the Condensed Consolidated Financial Statements reflect its best estimates and assumptions, actual results could differ from those estimates. The Company’s principal estimates include:

	•	Unpaid losses and loss expenses;

	•	Policy benefits for life and annuity contracts;

	•	Gross and net premiums written and net premiums earned;

	•	Recoverability of deferred acquisition costs;

	•	Recoverability of deferred tax assets;

	•	Valuation of goodwill and intangible assets; and

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

Fair_Value_Tables

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Financial instruments measured at fair value and categorized between Levels 1, 2 and 3	'
	At June 30, 2014 and December 31, 2013, the Company’s financial instruments measured at fair value were classified between Levels 1, 2 and 3 as follows (in thousands of U.S. dollars):


	30-Jun-14		Quoted prices in				Significant				Significant				Total
			active markets for				other observable				unobservable
			identical assets				inputs				inputs
			(Level 1)				(Level 2)				(Level 3)
	Fixed maturities
	U.S. government and government sponsored enterprises		$	—			$	1,855,443			$	—			$	1,855,443

	U.S. states, territories and municipalities		—				97,830				123,617				221,447

	Non-U.S. sovereign government, supranational and government related		—				2,288,627				—				2,288,627

	Corporate		—				5,980,652				—				5,980,652

	Asset-backed securities		—				725,466				489,106				1,214,572

	Residential mortgage-backed securities		—				2,394,941				—				2,394,941

	Other mortgage-backed securities		—				51,088				—				51,088

	Fixed maturities		$	—			$	13,394,047			$	612,723			$	14,006,770

	Short-term investments		$	—			$	31,849			$	—			$	31,849

	Equities
	Real estate investment trusts		$	224,501			$	—			$	—			$	224,501

	Energy		154,368				—				—				154,368

	Finance		98,254				9,718				19,564				127,536

	Insurance		122,864				—				—				122,864

	Consumer noncyclical		100,022				—				—				100,022

	Communications		78,556				—				2,067				80,623

	Technology		52,429				—				7,645				60,074

	Industrials		49,759				—				—				49,759

	Consumer cyclical		41,279				—				—				41,279

	Utilities		35,141				—				—				35,141

	Other		19,845				—				7				19,852

	Mutual funds and exchange traded funds		47,003				181,814				8,246				237,063

	Equities		$	1,024,021			$	191,532			$	37,529			$	1,253,082

	Other invested assets
	Derivative assets
	Foreign exchange forward contracts		$	—			$	2,410			$	—			$	2,410

	Foreign currency option contracts		—				746				—				746

	Futures contracts		2,706				—				—				2,706

	Total return swaps		—				—				408				408

TBAs		—				1,728				—				1,728

Other
Notes and loan receivables and notes securitization		—				—				38,603				38,603

Annuities and residuals		—				—				17,134				17,134

Private equities		—				—				54,928				54,928

Derivative liabilities
Foreign exchange forward contracts		—				(4,171		)		—				(4,171		)

Futures contracts		(407		)		—				—				(407		)

Insurance-linked securities		—				—				(950		)		(950		)

Total return swaps		—				—				(310		)		(310		)

Interest rate swaps		—				(9,145		)		—				(9,145		)

Other invested assets		$	2,299			$	(8,432	)		$	109,813			$	103,680

Funds held – directly managed
U.S. government and government sponsored enterprises		$	—			$	154,590			$	—			$	154,590

U.S. states, territories and municipalities		—				—				305				305

Non-U.S. sovereign government, supranational and government related		—				128,323				—				128,323

Corporate		—				214,482				—				214,482

Other invested assets		—				—				15,800				15,800

Funds held – directly managed		$	—			$	497,395			$	16,105			$	513,500

Total		$	1,026,320			$	14,106,391			$	776,170			$	15,908,881



31-Dec-13		Quoted prices in				Significant other				Significant				Total
		active markets for				observable				unobservable
		identical assets				inputs				inputs
		(Level 1)				(Level 2)				(Level 3)
Fixed maturities
U.S. government and government sponsored enterprises		$	—			$	1,623,859			$	—			$	1,623,859

U.S. states, territories and municipalities		—				16,207				108,380				124,587

Non-U.S. sovereign government, supranational and government related		—				2,353,699				—				2,353,699

Corporate		—				6,048,663				—				6,048,663

Asset-backed securities		—				691,654				446,577				1,138,231

Residential mortgage-backed securities		—				2,268,517				—				2,268,517

Other mortgage-backed securities		—				35,747				—				35,747

Fixed maturities		$	—			$	13,038,346			$	554,957			$	13,593,303

Short-term investments		$	—			$	13,546			$	—			$	13,546

Equities
Real estate investment trusts		$	175,796			$	—			$	—			$	175,796

Energy		159,509				—				—				159,509

Insurance		144,020				—				—				144,020

Finance		108,944				9,556				20,207				138,707

Consumer noncyclical		108,663				—				—				108,663

Communications		70,792				—				2,199				72,991

Technology		53,768				—				7,752				61,520

Industrials		47,677				—				—				47,677

Consumer cyclical		45,915				—				—				45,915

Utilities		37,151				—				—				37,151

Other		19,993				—				—				19,993

Mutual funds and exchange traded funds		61,902				139,322				7,887				209,111

Equities		$	1,034,130			$	148,878			$	38,045			$	1,221,053

Other invested assets
Derivative assets
Foreign exchange forward contracts		$	—			$	1,249			$	—			$	1,249

Futures contracts		41,031				—				—				41,031

Total return swaps		—				—				79				79

Interest rate swaps		—				2,147				—				2,147

TBAs		—				2				—				2

Other
Notes and loan receivables and notes securitization		—				—				41,446				41,446

Annuities and residuals		—				—				24,064				24,064

Private equities		—				—				39,131				39,131

Derivative liabilities
Foreign exchange forward contracts		—				(8,648		)		—				(8,648		)

Foreign currency option contracts		—				(535		)		—				(535		)

Credit default swaps (protection purchased)		—				(71		)		—				(71		)

Insurance-linked securities		—				—				(268		)		(268		)

Total return swaps		—				—				(599		)		(599		)

Interest rate swaps		—				(2,558		)		—				(2,558		)

TBAs		—				(1,331		)		—				(1,331		)

Other invested assets		$	41,031			$	(9,745	)		$	103,853			$	135,139

Funds held – directly managed
U.S. government and government sponsored enterprises		$	—			$	157,296			$	—			$	157,296

U.S. states, territories and municipalities		—				—				286				286

Non-U.S. sovereign government, supranational and government related		—				137,186				—				137,186

Corporate		—				248,947				—				248,947

Short-term investments		—				2,426				—				2,426

Other invested assets		—				—				15,165				15,165

Funds held – directly managed		$	—			$	545,855			$	15,451			$	561,306

Total		$	1,075,161			$	13,736,880			$	712,306			$	15,524,347

Reconciliation of beginning and ending balances for all financial instruments measured at fair value using Level 3 inputs	'
	The reconciliations of the beginning and ending balances for all financial instruments measured at fair value using Level 3 inputs for the six months ended June 30, 2014 and 2013, were as follows (in thousands of U.S. dollars):



	For the six months ended June 30, 2014		Balance at				Realized and				Purchases				Settlements				Net				Balance				Change in
			beginning				unrealized				and				and				transfers				at end of				unrealized
			of period				investment				issuances (1)				sales				into/(out of)				period				investment gains (losses)
							gains (losses)												Level 3								relating to
							included in																				assets held at
							net income																				end of period
	Fixed maturities
	U.S. states, territories and municipalities		$	108,380			$	6,852			$	8,525			$	(140	)		$	—			$	123,617			$	6,849

	Asset-backed securities		446,577				9,137				127,453				(94,061		)		—				489,106				9,444

	Fixed maturities		$	554,957			$	15,989			$	135,978			$	(94,201	)		$	—			$	612,723			$	16,293

	Equities
	Finance		$	20,207			$	(643	)		$	—			$	—			$	—			$	19,564			$	(643	)

	Communications		2,199				(132		)		—				—				—				2,067				(132		)

	Technology		7,752				(107		)		—				—				—				7,645				(107		)

	Other		—				(1		)		8				—				—				7				(1		)

	Mutual funds and exchange traded funds		7,887				359				—				—				—				8,246				359

	Equities		$	38,045			$	(524	)		$	8			$	—			$	—			$	37,529			$	(524	)

	Other invested assets
	Derivatives, net		$	(788	)		$	864			$	(928	)		$	—			$	—			$	(852	)		$	864

	Notes and loan receivables and notes securitization		41,446				3,567				2,916				(9,326		)		—				38,603				5,086

	Annuities and residuals		24,064				391				—				(7,321		)		—				17,134				431

	Private equities		39,131				(1,831		)		20,544				(2,916		)		—				54,928				(1,863		)

	Other invested assets		$	103,853			$	2,991			$	22,532			$	(19,563	)		$	—			$	109,813			$	4,518

	Funds held – directly managed
	U.S. states, territories and municipalities		$	286			$	19			$	—			$	—			$	—			$	305			$	19

	Other invested assets		15,165				380				255				—				—				15,800				380

	Funds held – directly managed		$	15,451			$	399			$	255			$	—			$	—			$	16,105			$	399

	Total		$	712,306			$	18,855			$	158,773			$	(113,764	)		$	—			$	776,170			$	20,686






	-1	Purchases and issuances of derivatives include issuances of $0.9 million.



	For the six months ended June 30, 2013		Balance at				Realized and				Purchases				Settlements				Net				Balance				Change in
			beginning				unrealized				and				and				transfers				at end of				unrealized
			of period				investment				issuances (1)				sales (2)				into/(out of)				period				investment
							(losses) gains												Level 3								(losses) gains relating to
			included in																				assets held at
			net income																				end of period
Fixed maturities
U.S. states, territories and municipalities				$	233,235			$	(13,858	)		$	—			$	(214	)		$	—			$	219,163			$	(13,858	)

Corporate		100,904				(1,008		)		—				—				—				99,896				(1,008		)

Asset-backed securities		323,134				(4,322		)		155,165				(47,689		)		—				426,288				(4,140		)

Fixed maturities		$	657,273			$	(19,188	)		$	155,165			$	(47,903	)		$	—			$	745,347			$	(19,006	)

Equities
Finance		$	13,477			$	(477	)		$	—			$	—			$	—			$	13,000			$	(477	)

Technology		6,987				1,025				—				—				—				8,012				1,025

Communications		—				—				2,040				—				—				2,040				—

Mutual funds and exchange traded funds		7,264				285				—				—				—				7,549				285

Equities		$	27,728			$	833			$	2,040			$	—			$	—			$	30,601			$	833

Other invested assets
Derivatives, net		$	3,911			$	(4,199	)		$	121			$	2,500			$	—			$	2,333			$	(3,698	)

Notes and loan receivables and notes securitization		34,902				(1,383		)		13,350				(2,645		)		—				44,224				(1,383		)

Annuities and residuals		46,882				93				—				(16,420		)		—				30,555				316

Private equities		1,404				(3,512		)		23,208				—				—				21,100				(3,512		)

Other invested assets		$	87,099			$	(9,001	)		$	36,679			$	(16,565	)		$	—			$	98,212			$	(8,277	)

Funds held – directly managed
U.S. states, territories and municipalities		$	345			$	(8	)		$	—			$	—			$	—			$	337			$	(8	)

Other invested assets		17,976				(2,698		)		—				(71		)		—				15,207				(1,634		)

Funds held – directly managed		$	18,321			$	(2,706	)		$	—			$	(71	)		$	—			$	15,544			$	(1,642	)

Total		$	790,421			$	(30,062	)		$	193,884			$	(64,539	)		$	—			$	889,704			$	(28,092	)






-1	Purchases and issuances of derivatives include issuances of $0.8 million.

-2	Settlement and sales of annuities and residuals include sales of $6.3 million.
The reconciliations of the beginning and ending balances for all financial instruments measured at fair value using Level 3 inputs for the three months ended June 30, 2014 and 2013, were as follows (in thousands of U.S. dollars):



For the three months ended June 30, 2014		Balance at				Realized and				Purchases				Settlements				Net				Balance				Change in
		beginning				unrealized				and				and				transfers				at end				unrealized
		of period				investment				issuances (1)				sales				into/				of period				investment
						gains (losses)												(out of)								gains (losses)
						included in												Level 3								relating to
						net income																				assets held at
																										end of period
Fixed maturities
U.S. states, territories and municipalities		$	113,467			$	5,960			$	4,260			$	(70	)		$	—			$	123,617			$	5,959

Asset-backed securities		447,701				3,141				68,035				(29,771		)		—				489,106				3,184

Fixed maturities		$	561,168			$	9,101			$	72,295			$	(29,841	)		$	—			$	612,723			$	9,143

Equities
Finance		$	22,706			$	(3,142	)		$	—			$	—			$	—			$	19,564			$	(3,142	)

Communications		2,111				(44		)		—				—				—				2,067				(44		)

Technology		7,400				245				—				—				—				7,645				245

Other		—				(1		)		8				—				—				7				(1		)

Mutual funds and exchange traded funds		8,053				193				—				—				—				8,246				193

Equities		$	40,270			$	(2,749	)		$	8			$	—			$	—			$	37,529			$	(2,749	)

Other invested assets
Derivatives, net		$	(1,042	)		$	398			$	(208	)		$	—			$	—			$	(852	)		$	398

Notes and loan receivables and notes securitization		42,243				2,967				2,196				(8,803		)		—				38,603				4,486

Annuities and residuals		18,945				302				—				(2,113		)		—				17,134				303

Private equities		42,655				(2,264		)		15,478				(941		)		—				54,928				(2,264		)

Other invested assets		$	102,801			$	1,403			$	17,466			$	(11,857	)		$	—			$	109,813			$	2,923

Funds held – directly managed
U.S. states, territories and municipalities		$	301			$	4			$	—			$	—			$	—			$	305			$	4

Other invested assets		15,223				577				—				—				—				15,800				577

Funds held – directly managed		$	15,524			$	581			$	—			$	—			$	—			$	16,105			$	581

Total		$	719,763			$	8,336			$	89,769			$	(41,698	)		$	—			$	776,170			$	9,898





-1	Purchases and issuances of derivatives include issuances of $0.2 million.


For the three months ended June 30, 2013		Balance at				Realized and				Purchases				Settlements				Net				Balance				Change in
		beginning				unrealized				and				and				transfers				at end of				unrealized
		of period				investment				issuances (1)				sales				into/(out of)				period				investment
						(losses) gains												Level 3								(losses) gains
						included in																				relating to
						net loss																				assets held at
																										end of period
Fixed maturities
U.S. states, territories and municipalities		$	232,292			$	(13,009	)		$	—			$	(120	)		$	—			$	219,163			$	(13,009	)

Corporate		100,716				(820		)		—				—				—				99,896				(820		)

Asset-backed securities		325,659				(6,063		)		128,009				(21,317		)		—				426,288				(5,921		)

Fixed maturities		$	658,667			$	(19,892	)		$	128,009			$	(21,437	)		$	—			$	745,347			$	(19,750	)

Equities
Finance		$	12,553			$	447			$	—			$	—			$	—			$	13,000			$	447

Technology		7,647				365				—				—				—				8,012				365

Communications		—				—				2,040				—				—				2,040				—

Mutual funds and exchange traded funds		7,442				107				—				—				—				7,549				107

Equities		$	27,642			$	919			$	2,040			$	—			$	—			$	30,601			$	919

Other invested assets
Derivatives, net		$	2,732			$	(520	)		$	121			$	—			$	—			$	2,333			$	(3,020	)

Notes and loan receivables and notes securitization		34,058				(1,322		)		11,990				(502		)		—				44,224				(1,322		)

Annuities and residuals		35,656				(243		)		—				(4,858		)		—				30,555				(510		)

Private equities		17,764				(447		)		3,783				—				—				21,100				(447		)

Other invested assets		$	90,210			$	(2,532	)		$	15,894			$	(5,360	)		$	—			$	98,212			$	(5,299	)

Funds held – directly managed
U.S. states, territories and municipalities		$	341			$	(4	)		$	—			$	—			$	—			$	337			$	(4	)

Other invested assets		15,468				(261		)		—				—				—				15,207				(261		)

Funds held – directly managed		$	15,809			$	(265	)		$	—			$	—			$	—			$	15,544			$	(265	)

Total		$	792,328			$	(21,770	)		$	145,943			$	(26,797	)		$	—			$	889,704			$	(24,395	)






-1	Purchases and issuances of derivatives include issuances of $0.8 million.
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]	'
	The significant unobservable inputs used in the valuation of financial instruments measured at fair value using Level 3 inputs at June 30, 2014 and December 31, 2013 were as follows (fair value in thousands of U.S. dollars):


	30-Jun-14		Fair value				Valuation techniques		Unobservable inputs		Range
											(Weighted average)
	Fixed maturities
	U.S. states, territories and municipalities		$	123,617			Discounted cash flow		Credit spreads		2.6% – 10.0% (5.2%)

	Asset-backed securities – interest only		11				Discounted cash flow		Credit spreads		5.2% – 10.3% (6.9%)

	Asset-backed securities – other		489,095				Discounted cash flow		Credit spreads		3.9% – 12.0% (6.8%)

	Equities
	Finance		13,782				Weighted market comparables		Net income multiple		19.0 (19.0)

									Tangible book value multiple		1.3 (1.3)
									Liquidity discount		25.0% (25.0%)
									Comparable return		0% (0%)
	Finance		5,782				Profitability analysis		Projected return on equity		14.0% (14.0%)

	Communications		2,067				Weighted market comparables		Adjusted earnings multiple		9.4 (9.4)

									Comparable return		-6.0% (-6.0%)
	Technology		7,645				Weighted market comparables		Revenue multiple		1.5 (1.5)

									Adjusted earnings multiple		9.0 (9.0)
	Other invested assets
	Total return swaps		98				Discounted cash flow		Credit spreads		3.7% – 17.4% (9.6%)

	Notes and loan receivables		16,984				Discounted cash flow		Credit spreads		17.5% (17.5%)

									Gross revenue/fair value		1.3 – 1.5 (1.5)
	Notes securitization		21,619				Discounted cash flow		Credit spreads		4.0% – 5.9% (5.8%)

	Annuities and residuals		17,134				Discounted cash flow		Credit spreads		4.0% – 7.4% (5.9%)

									Prepayment speed		0% – 15.0% (5.6%)
									Constant default rate		0.3% – 23.0% (8.2%)
	Private equity – direct		10,657				Discounted cash flow and weighted market comparables		Net income multiple		9.2 (9.2)

									Tangible book value multiple		1.6 (1.6)
									Recoverability of intangible assets		0% (0%)
	Private equity funds		14,447				Lag reported market value		Net asset value, as reported		100.0% (100.0%)

									Market adjustments		1.0% – 6.1% (2.4%)
	Private equity – other		29,824				Discounted cash flow		Effective yield		5.8% (5.8%)

	Funds held – directly managed
	Other invested assets		15,800				Lag reported market value		Net asset value, as reported		100.0% (100.0%)

									Market adjustments		-18.7% – 0% (-12.4%)


	December 31, 2013		Fair value				Valuation techniques		Unobservable inputs		Range
											(Weighted average)
	Fixed maturities
	U.S. states, territories and municipalities		$	108,380			Discounted cash flow		Credit spreads		2.9% – 9.9% (5.3%)

	Asset-backed securities – interest only		21				Discounted cash flow		Credit spreads		5.5% – 10.7% (8.8%)

	Asset-backed securities – other		446,556				Discounted cash flow		Credit spreads		4.0% – 12.2% (7.1%)

	Equities
Finance		15,483				Weighted market comparables		Net income multiple		14.6 (14.6)

								Tangible book value multiple		1.1 (1.1)
								Liquidity discount		25.0% (25.0%)
								Comparable return		8.5% (8.5%)
Finance		4,724				Profitability analysis		Projected return on equity		14.0% (14.0%)

Communications		2,199				Weighted market comparables		Adjusted earnings multiple		9.4 (9.4)

								Comparable return		0% (0%)
Technology		7,752				Weighted market comparables		Revenue multiple		0.9 (0.9)

								Adjusted earnings multiple		4.4 (4.4)
Other invested assets
Total return swaps		(520		)		Discounted cash flow		Credit spreads		2.8% – 18.9% (17.0%)
Notes and loan receivables		21,280				Discounted cash flow		Credit spreads		17.5% (17.5%)

								Gross revenue/fair value		1.5 (1.5)
Notes securitization		20,166				Discounted cash flow		Credit spreads		6.2% (6.2%)

Annuities and residuals		24,064				Discounted cash flow		Credit spreads		4.0% – 7.9% (5.8%)

								Prepayment speed		0% – 15.0% (6.4%)
								Constant default rate		0.3% – 35.0% (12.4%)
Private equity – direct		11,742				Discounted cash flow and weighted market comparables		Net income multiple		8.3 (8.3)

								Tangible book value multiple		1.6 (1.6)
								Recoverability of intangible assets		0% (0%)
Private equity funds		8,993				Lag reported market value		Net asset value, as reported		100.0% (100.0%)

								Market adjustments		1.8% – 9.8% (8.3%)
Private equity – other		18,396				Discounted cash flow		Credit spreads		3.8% (3.8%)

Funds held – directly managed
Other invested assets		15,165				Lag reported market value		Net asset value, as reported		100.0% (100.0%)

								Market adjustments		-22.9% – 0% (-15.5%)
Change in fair value of financial instruments subject to fair value option	'
	Changes in the fair value of the Company’s financial instruments subject to the fair value option during the three months and six months ended June 30, 2014 and 2013 were as follows (in thousands of U.S. dollars):


		For the three months ended June 30, 2014				For the three months ended June 30, 2013				For the six months ended June 30, 2014				For the six months ended June 30, 2013
	Fixed maturities and short-term investments	$	123,434			$	(395,757	)		$	243,233			$	(467,427	)

	Equities	6,322				(57,715		)		16,647				(7,649		)

	Other invested assets	2,515				(2,234		)		3,558				(7,068		)

	Funds held – directly managed	741				(15,372		)		1,477				(21,415		)

	Total	$	133,012			$	(471,078	)		$	264,915			$	(503,559	)

Carrying values and fair values of financial instrument liabilities	'
	The carrying values and fair values of the Senior Notes and CENts at June 30, 2014 and December 31, 2013 were as follows (in thousands of U.S. dollars):


		30-Jun-14								31-Dec-13
		Carrying Value				Fair Value				Carrying Value				Fair Value
	Debt related to senior notes (1)	$	750,000			$	865,321			$	750,000			$	844,331

	Debt related to capital efficient notes (2)	63,384				62,015				63,384				61,094






	-1	PartnerRe Finance A LLC and PartnerRe Finance B LLC, the issuers of the Senior Notes, do not meet consolidation requirements under U.S. GAAP. Accordingly, the Company shows the related intercompany debt of $750 million in its Condensed Consolidated Balance Sheets at June 30, 2014 and December 31, 2013.

	-2	PartnerRe Finance II Inc., the issuer of the CENts, does not meet consolidation requirements under U.S. GAAP. Accordingly, the Company shows the related intercompany debt of $71 million in its Condensed Consolidated Balance Sheets at June 30, 2014 and December 31, 2013.

Derivatives_Tables

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Fair Values and Related Notional Values of Derivatives [Table Text Block]	'
	The net fair values and the related net notional values of derivatives included in the Company’s Condensed Consolidated Balance Sheets at June 30, 2014 and December 31, 2013 were as follows (in thousands of U.S. dollars):


			Asset				Liability				Net derivatives
			derivatives				derivatives
	30-Jun-14		at fair value				at fair value				Net notional				Fair value
											exposure
	Foreign exchange forward contracts		$	2,410			$	(4,171	)		$	2,130,049			$	(1,761	)

	Foreign currency option contracts		746				—				85,547				746

	Futures contracts		2,706				(407		)		2,987,520				2,299

	Insurance-linked securities (1)		—				(950		)		170,969				(950		)

	Total return swaps		408				(310		)		42,605				98

	Interest rate swaps (2)		—				(9,145		)		202,116				(9,145		)

	TBAs		1,728				—				154,210				1,728

	Total derivatives		$	7,998			$	(14,983	)						$	(6,985	)




			Asset				Liability				Net derivatives
			derivatives				derivatives
	31-Dec-13		at fair value				at fair value				Net notional				Fair value
											exposure
	Foreign exchange forward contracts		$	1,249			$	(8,648	)		$	1,957,409			$	(7,399	)

	Foreign currency option contracts		—				(535		)		87,620				(535		)

	Futures contracts		41,031				—				3,266,004				41,031

	Credit default swaps (protection purchased)		—				(71		)		14,000				(71		)

	Insurance-linked securities (1)		—				(268		)		168,724				(268		)

	Total return swaps		79				(599		)		31,740				(520		)

	Interest rate swaps (2)		2,147				(2,558		)		202,859				(411		)

	TBAs		2				(1,331		)		183,835				(1,329		)

	Total derivatives		$	44,508			$	(14,010	)						$	30,498






	-1	At June 30, 2014 and December 31, 2013, insurance-linked securities include a longevity swap for which the notional amount is not reflective of the overall potential exposure of the swap. As such, the Company has included the probable maximum loss under the swap within the net notional exposure as an approximation of the notional amount.

	-2	The Company enters into interest rate swaps to mitigate notional exposures on certain total return swaps and certain fixed maturities. Only the notional value of interest rate swaps on fixed maturities is presented separately in the table.
Gains and Losses on Derivatives not Designated as Hedges [Table Text Block]	'
	The gains and losses in the Condensed Consolidated Statements of Operations for derivatives for the three months and six months ended June 30, 2014 and 2013 were as follows (in thousands of U.S. dollars):



		For the three months ended June 30, 2014				For the three months ended June 30, 2013				For the six months ended June 30, 2014				For the six months ended June 30, 2013

	Foreign exchange forward contracts	$	637			$	(54,004	)		$	8,892			$	(36,474	)

	Foreign currency option contracts	753				(3,275		)		1,148				(3,840		)

	Total included in net foreign exchange gains and losses	$	1,390			$	(57,279	)		$	10,040			$	(40,314	)

	Futures contracts	$	(34,428	)		$	91,679			$	(50,501	)		$	85,376

	Credit default swaps (protection purchased)	—				(22		)		(3		)		(120		)

	Credit default swaps (assumed risks)	—				8				—				115

	Insurance-linked securities	13				2,469				256				(550		)

	Total return swaps	400				(2,988		)		618				(3,659		)

	Interest rate swaps	(3,348		)		2,399				(8,734		)		3,176

	TBAs	4,367				(8,363		)		8,114				(9,697		)

	Total included in net realized and unrealized investment gains and losses	$	(32,996	)		$	85,182			$	(50,250	)		$	74,641

	Total derivatives	$	(31,606	)		$	27,903			$	(40,210	)		$	34,327

Offsetting Disclosures [Table Text Block]	'
	The gross and net fair values of derivatives that are subject to offsetting in the Condensed Consolidated Balance Sheets at June 30, 2014 and December 31, 2013 were as follows (in thousands of U.S. dollars):


							Gross				Net amounts of				Gross amounts not offset
							amounts				assets/liabilities				in the balance sheet
							offset in the				presented in the
	30-Jun-14		Gross				balance sheet				balance sheet				Financial			Cash collateral		Net amount
			amounts												instruments			received/pledged
			recognized (1)
	Total derivative assets		$	7,998			$	—			$	7,998			$	(616	)	$	—	$	7,382

	Total derivative liabilities		$	(14,983	)		$	—			$	(14,983	)		$	616		$	—	$	(14,367	)

	31-Dec-13
	Total derivative assets		$	44,508			$	—			$	44,508			$	(2	)	$	—	$	44,506

	Total derivative liabilities		$	(14,010	)		$	—			$	(14,010	)		$	2		$	4,341	$	(9,667	)






	-1	Amounts include all derivative instruments, irrespective of whether there is a legally enforceable master netting arrangement in place.

Net_Income_Loss_Per_Share_Tabl

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Net Income Per Share Table [Text Block]	'
	The reconciliation of basic and diluted net income (loss) per share for the three months and six months ended June 30, 2014 and 2013 is as follows (in thousands of U.S. dollars, except share and per share data):


		For the three months ended June 30, 2014		For the three months ended June 30, 2013			For the six months ended June 30, 2014		For the six months ended June 30, 2013
	Numerator:
	Net income (loss) attributable to PartnerRe Ltd.	$	271,841	$	(175,571	)	$	581,683	$	58,799

	Less: preferred dividends	14,184		14,796			28,367		29,494

	Less: loss on redemption of preferred shares	—		—			—		9,135

	Net income (loss) attributable to PartnerRe Ltd. common shareholders	$	257,657	$	(190,367	)	$	553,316	$	20,170

	Denominator:
	Weighted number of common shares outstanding – basic	50,241,216		56,485,882			50,942,980		57,449,528

	Share options and other (1) (2)	1,087,545		—			1,081,471		1,084,998

	Weighted average number of common shares and common share equivalents outstanding – diluted	51,328,761		56,485,882			52,024,451		58,534,526

	Basic net income (loss) per share	$	5.13	$	(3.37	)	$	10.86	$	0.35

	Diluted net income (loss) per share (1) (2)	$	5.02	$	(3.37	)	$	10.64	$	0.34


	Anti-dilutive common shares excluded from weighted average number of common shares and common share equivalents outstanding - diluted (1)	149,600		142,479			119,870		104,920






	-1	Where the exercise price of share based awards is greater than the average market price of the common shares, the common shares are considered anti-dilutive and are excluded from the calculation of weighted average number of common shares and common share equivalents outstanding - diluted.

	-2	Dilutive securities, in the form of share options and other, of 1,003,849 shares were not included in the weighted average number of common shares and common share equivalents outstanding - diluted, for the purpose of computing the diluted net loss per share because to do so would have been anti-dilutive for the three months ended June 30, 2013.

Noncontrolling_interests_Table

Noncontrolling interests (Tables)	6 Months Ended
	Jun. 30, 2014
Noncontrolling Interest [Abstract]	'
Redeemable Noncontrolling Interest [Table Text Block]	'
	The reconciliation of the beginning and ending balance of the noncontrolling interests in Lorenz Re for the six months ended June 30, 2014 and 2013 was as follows (in thousands of U.S. dollars):


		For the six months ended June 30, 2014			For the six months ended June 30, 2013
	Balance at beginning of period	$	56,627		$	—

	Net income attributable to noncontrolling interests	4,995			1,183

	Distribution to noncontrolling interests	(14,266		)	—

	Sale of shares to noncontrolling interests	—			47,136

	Balance at end of period	$	47,356		$	48,319

Segment_Information_Tables

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2014
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]	'
Segment reporting table	'
	Segment Information
	For the three months ended June 30, 2014


		North				Global				Global				Catastrophe				Total				Life				Corporate				Total
		America				(Non-U.S.)				Specialty								Non-life				and Health				and Other
						P&C												segment				segment
	Gross premiums written	$	400			$	155			$	438			$	143			$	1,136			$	326			$	—			$	1,462

	Net premiums written	$	392			$	148			$	432			$	136			$	1,108			$	311			$	—			$	1,419

	(Increase) decrease in unearned premiums	(2		)		39				(26		)		(77		)		(66		)		—				—				(66		)

	Net premiums earned	$	390			$	187			$	406			$	59			$	1,042			$	311			$	—			$	1,353

	Losses and loss expenses and life policy benefits	(240		)		(103		)		(270		)		(19		)		(632		)		(252		)		—				(884		)

	Acquisition costs	(102		)		(52		)		(98		)		(8		)		(260		)		(43		)		—				(303		)

	Technical result	$	48			$	32			$	38			$	32			$	150			$	16			$	—			$	166

	Other income																	1				3				5				9

	Other operating expenses																	(61		)		(16		)		(30		)		(107		)
	Underwriting result																	$	90			$	3			n/a				$	68

	Net investment income																					15				115				130

	Allocated underwriting result (1)																					$	18			n/a				n/a

	Net realized and unrealized investment gains																									166				166

	Interest expense																									(12		)		(12		)
	Amortization of intangible assets																									(7		)		(7		)
	Net foreign exchange gains																									2				2

	Income tax expense																									(78		)		(78		)
	Interest in earnings of equity method investments																									5				5

	Net income																									n/a				$	274

	Loss ratio (2)	61.5		%		54.6		%		66.5		%		33.4		%		60.6		%
	Acquisition ratio (3)	26.1				27.9				24.2				13				25

	Technical ratio (4)	87.6		%		82.5		%		90.7		%		46.4		%		85.6		%
	Other operating expense ratio (5)																	5.9

	Combined ratio (6)																	91.5		%





	-1	Allocated underwriting result is defined as net premiums earned, other income or loss and allocated net investment income less life policy benefits, acquisition costs and other operating expenses.

	-2	Loss ratio is obtained by dividing losses and loss expenses by net premiums earned.

	-3	Acquisition ratio is obtained by dividing acquisition costs by net premiums earned.

	-4	Technical ratio is defined as the sum of the loss ratio and the acquisition ratio.

	-5	Other operating expense ratio is obtained by dividing other operating expenses by net premiums earned.

-6	Combined ratio is defined as the sum of the technical ratio and the other operating expense ratio.
Segment Information
For the three months ended June 30, 2013


	North				Global				Global				Catastrophe				Total				Life				Corporate				Total
	America				(Non-U.S.)				Specialty								Non-life				and Health				and Other
					P&C												segment				segment
Gross premiums written	$	372			$	160			$	413			$	161			$	1,106			$	233			$	2			$	1,341

Net premiums written	$	360			$	158			$	409			$	149			$	1,076			$	232			$	1			$	1,309

(Increase) decrease in unearned premiums	(3		)		11				(37		)		(70		)		(99		)		—				(1		)		(100		)

Net premiums earned	$	357			$	169			$	372			$	79			$	977			$	232			$	—			$	1,209

Losses and loss expenses and life policy benefits	(245		)		(106		)		(284		)		(51		)		(686		)		(181		)		—				(867		)

Acquisition costs	(79		)		(34		)		(90		)		(6		)		(209		)		(33		)		—				(242		)

Technical result	$	33			$	29			$	(2	)		$	22			$	82			$	18			$	—			$	100

Other income																	—				3				1				4

Other operating expenses																	(60		)		(17		)		(68		)		(145		)
Underwriting result																	$	22			$	4			n/a				$	(41	)

Net investment income																					15				110				125

Allocated underwriting result																					$	19			n/a				n/a

Net realized and unrealized investment losses																									(299		)		(299		)
Interest expense																									(12		)		(12		)
Amortization of intangible assets																									(7		)		(7		)
Net foreign exchange losses																									(11		)		(11		)
Income tax benefit																									75				75

Interest in losses of equity method investments																									(4		)		(4		)
Net loss																									n/a				$	(174	)

Loss ratio	68.6		%		62.9		%		76.6		%		64.1		%		70.3		%
Acquisition ratio	22.1				19.9				24.1				8.5				21.4

Technical ratio	90.7		%		82.8		%		100.7		%		72.6		%		91.7		%
Other operating expense ratio																	6.1

Combined ratio																	97.8		%

Segment Information
For the six months ended June 30, 2014


	North				Global				Global				Catastrophe				Total				Life				Corporate				Total
	America				(Non-U.S.)				Specialty								Non-life				and Health				and Other
					P&C												segment				segment
Gross premiums written	$	930			$	519			$	917			$	353			$	2,719			$	615			$	—			$	3,334

Net premiums written	$	919			$	508			$	822			$	315			$	2,564			$	593			$	—			$	3,157

Increase in unearned premiums	(151		)		(141		)		(61		)		(177		)		(530		)		(20		)		—				(550		)

Net premiums earned	$	768			$	367			$	761			$	138			$	2,034			$	573			$	—			$	2,607

Losses and loss expenses and life policy benefits	(499		)		(196		)		(471		)		1				(1,165		)		(468		)		—				(1,633		)

Acquisition costs	(194		)		(107		)		(178		)		(15		)		(494		)		(73		)		—				(567		)

Technical result	$	75			$	64			$	112			$	124			$	375			$	32			$	—			$	407

Other income																	2				4				4				10

Other operating expenses																	(126		)		(34		)		(59		)		(219		)
Underwriting result																	$	251			$	2			n/a				$	198

Net investment income																					30				217				247

Allocated underwriting result																					$	32			n/a				n/a

Net realized and unrealized investment gains																									308				308

Interest expense																									(25		)		(25		)
Amortization of intangible assets																									(14		)		(14		)
Net foreign exchange gains																									3				3

Income tax expense																									(141		)		(141		)
Interest in earnings of equity method investments																									11				11

Net income																									n/a				$	587

Loss ratio	65		%		53.5		%		61.9		%		(0.9		)%		57.3		%
Acquisition ratio	25.2				29				23.4				11.4				24.3

Technical ratio	90.2		%		82.5		%		85.3		%		10.5		%		81.6		%
Other operating expense ratio																	6.2

Combined ratio																	87.8		%
Segment Information
For the six months ended June 30, 2013


	North				Global				Global				Catastrophe				Total				Life				Corporate				Total
	America				(Non-U.S.)				Specialty								Non-life				and Health				and Other
					P&C												segment				segment
Gross premiums written	$	819			$	532			$	857			$	399			$	2,607			$	486			$	4			$	3,097

Net premiums written	$	807			$	525			$	771			$	360			$	2,463			$	481			$	2			$	2,946

Increase in unearned premiums	(117		)		(190		)		(62		)		(195		)		(564		)		(25		)		(2		)		(591		)
Net premiums earned	$	690			$	335			$	709			$	165			$	1,899			$	456			$	—			$	2,355

Losses and loss expenses and life policy benefits	(485		)		(173		)		(469		)		(39		)		(1,166		)		(363		)		1				(1,528		)

Acquisition costs	(151		)		(84		)		(165		)		(17		)		(417		)		(59		)		—				(476		)

Technical result	$	54			$	78			$	75			$	109			$	316			$	34			$	1			$	351

Other income																	—				6				2				8

Other operating expenses																	(126		)		(35		)		(100		)		(261		)
Underwriting result																	$	190			$	5			n/a				$	98

Net investment income																					30				218				248

Allocated underwriting result																					$	35			n/a				n/a

Net realized and unrealized investment losses																									(276		)		(276		)
Interest expense																									(24		)		(24		)
Amortization of intangible assets																									(14		)		(14		)
Net foreign exchange losses																									(9		)		(9		)
Income tax benefit																									33				33

Interest in earnings of equity method investments																									4				4

Net income																									n/a				$	60

Loss ratio	70.2		%		51.8		%		66.1		%		23.8		%		61.4		%
Acquisition ratio	21.9				24.9				23.3				10.5				22

Technical ratio	92.1		%		76.7		%		89.4		%		34.3		%		83.4		%
Other operating expense ratio																	6.6

Combined ratio																	90		%

Fair_Value_Details_Hierarchy_t

Fair Value (Details - Hierarchy table) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	$14,006,770	$13,593,303
Short-term investments	31,849	13,546
Equities	1,253,082	1,221,053
Other invested assets	103,680	135,139
Funds held - directly managed	513,500	561,306
Total	15,908,881	15,524,347
Short-term investments [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Funds held - directly managed	'	2,426
Derivative assets [Member] \| Foreign exchange forward contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	2,410	1,249
Derivative assets [Member] \| Foreign currency option contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	746	'
Derivative assets [Member] \| Futures contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	2,706	41,031
Derivative assets [Member] \| Total return swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	408	79
Derivative assets [Member] \| Interest rate swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	2,147
Derivative assets [Member] \| TBAs [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	1,728	2
Derivative liabilities [Member] \| Foreign exchange forward contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	-4,171	-8,648
Derivative liabilities [Member] \| Foreign currency option contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	-535
Derivative liabilities [Member] \| Futures contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	-407	'
Derivative liabilities [Member] \| Credit default swaps (protection purchased) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	-71
Derivative liabilities [Member] \| Insurance-linked securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	-950	-268
Derivative liabilities [Member] \| Total return swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	-310	-599
Derivative liabilities [Member] \| Interest rate swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	-9,145	-2,558
Derivative liabilities [Member] \| TBAs [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	-1,331
Notes And Loan Receivables And Notes Securitization [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	38,603	41,446
Annuities and residuals [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	17,134	24,064
Private equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	54,928	39,131
Other invested assets funds held directly managed [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Funds held - directly managed	15,800	15,165
Real estate investment trust [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	224,501	175,796
Energy [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	154,368	159,509
Finance [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	127,536	138,707
Insurance [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	122,864	144,020
Consumer noncyclical [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	100,022	108,663
Communications [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	80,623	72,991
Technology [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	60,074	61,520
Industrials [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	49,759	47,677
Consumer cyclical [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	41,279	45,915
Utilities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	35,141	37,151
Other equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	19,852	19,993
Mutual funds and exchange traded funds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	237,063	209,111
US Government and government sponsored enterpises [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	1,855,443	1,623,859
Funds held - directly managed	154,590	157,296
US states, territories and municipalities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	221,447	124,587
Funds held - directly managed	305	286
Non US sovereign government supranational and government related [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	2,288,627	2,353,699
Funds held - directly managed	128,323	137,186
Corporate [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	5,980,652	6,048,663
Funds held - directly managed	214,482	248,947
Asset-backed securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	1,214,572	1,138,231
Residential mortgage-backed securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	2,394,941	2,268,517
Other mortgage-backed securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	51,088	35,747
Quoted prices in active markets for identical assets (Level 1)	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	0	0
Short-term investments	0	0
Equities	1,024,021	1,034,130
Other invested assets	2,299	41,031
Funds held - directly managed	0	0
Total	1,026,320	1,075,161
Quoted prices in active markets for identical assets (Level 1) \| Short-term investments [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Funds held - directly managed	'	0
Quoted prices in active markets for identical assets (Level 1) \| Derivative assets [Member] \| Foreign exchange forward contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Quoted prices in active markets for identical assets (Level 1) \| Derivative assets [Member] \| Foreign currency option contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	'
Quoted prices in active markets for identical assets (Level 1) \| Derivative assets [Member] \| Futures contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	2,706	41,031
Quoted prices in active markets for identical assets (Level 1) \| Derivative assets [Member] \| Total return swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Quoted prices in active markets for identical assets (Level 1) \| Derivative assets [Member] \| Interest rate swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	0
Quoted prices in active markets for identical assets (Level 1) \| Derivative assets [Member] \| TBAs [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Quoted prices in active markets for identical assets (Level 1) \| Derivative liabilities [Member] \| Foreign exchange forward contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Quoted prices in active markets for identical assets (Level 1) \| Derivative liabilities [Member] \| Foreign currency option contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	0
Quoted prices in active markets for identical assets (Level 1) \| Derivative liabilities [Member] \| Futures contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	-407	'
Quoted prices in active markets for identical assets (Level 1) \| Derivative liabilities [Member] \| Credit default swaps (protection purchased) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	0
Quoted prices in active markets for identical assets (Level 1) \| Derivative liabilities [Member] \| Insurance-linked securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Quoted prices in active markets for identical assets (Level 1) \| Derivative liabilities [Member] \| Total return swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Quoted prices in active markets for identical assets (Level 1) \| Derivative liabilities [Member] \| Interest rate swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Quoted prices in active markets for identical assets (Level 1) \| Derivative liabilities [Member] \| TBAs [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	0
Quoted prices in active markets for identical assets (Level 1) \| Notes And Loan Receivables And Notes Securitization [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Quoted prices in active markets for identical assets (Level 1) \| Annuities and residuals [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Quoted prices in active markets for identical assets (Level 1) \| Private equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Quoted prices in active markets for identical assets (Level 1) \| Other invested assets funds held directly managed [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Funds held - directly managed	0	0
Quoted prices in active markets for identical assets (Level 1) \| Real estate investment trust [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	224,501	175,796
Quoted prices in active markets for identical assets (Level 1) \| Energy [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	154,368	159,509
Quoted prices in active markets for identical assets (Level 1) \| Finance [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	98,254	108,944
Quoted prices in active markets for identical assets (Level 1) \| Insurance [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	122,864	144,020
Quoted prices in active markets for identical assets (Level 1) \| Consumer noncyclical [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	100,022	108,663
Quoted prices in active markets for identical assets (Level 1) \| Communications [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	78,556	70,792
Quoted prices in active markets for identical assets (Level 1) \| Technology [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	52,429	53,768
Quoted prices in active markets for identical assets (Level 1) \| Industrials [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	49,759	47,677
Quoted prices in active markets for identical assets (Level 1) \| Consumer cyclical [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	41,279	45,915
Quoted prices in active markets for identical assets (Level 1) \| Utilities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	35,141	37,151
Quoted prices in active markets for identical assets (Level 1) \| Other equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	19,845	19,993
Quoted prices in active markets for identical assets (Level 1) \| Mutual funds and exchange traded funds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	47,003	61,902
Quoted prices in active markets for identical assets (Level 1) \| US Government and government sponsored enterpises [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	0	0
Funds held - directly managed	0	0
Quoted prices in active markets for identical assets (Level 1) \| US states, territories and municipalities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	0	0
Funds held - directly managed	0	0
Quoted prices in active markets for identical assets (Level 1) \| Non US sovereign government supranational and government related [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	0	0
Funds held - directly managed	0	0
Quoted prices in active markets for identical assets (Level 1) \| Corporate [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	0	0
Funds held - directly managed	0	0
Quoted prices in active markets for identical assets (Level 1) \| Asset-backed securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	0	0
Quoted prices in active markets for identical assets (Level 1) \| Residential mortgage-backed securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	0	0
Quoted prices in active markets for identical assets (Level 1) \| Other mortgage-backed securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	0	0
Significant other observable inputs (Level 2)	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	13,394,047	13,038,346
Short-term investments	31,849	13,546
Equities	191,532	148,878
Other invested assets	-8,432	-9,745
Funds held - directly managed	497,395	545,855
Total	14,106,391	13,736,880
Significant other observable inputs (Level 2) \| Short-term investments [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Funds held - directly managed	'	2,426
Significant other observable inputs (Level 2) \| Derivative assets [Member] \| Foreign exchange forward contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	2,410	1,249
Significant other observable inputs (Level 2) \| Derivative assets [Member] \| Foreign currency option contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	746	'
Significant other observable inputs (Level 2) \| Derivative assets [Member] \| Futures contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Significant other observable inputs (Level 2) \| Derivative assets [Member] \| Total return swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Significant other observable inputs (Level 2) \| Derivative assets [Member] \| Interest rate swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	2,147
Significant other observable inputs (Level 2) \| Derivative assets [Member] \| TBAs [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	1,728	2
Significant other observable inputs (Level 2) \| Derivative liabilities [Member] \| Foreign exchange forward contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	-4,171	-8,648
Significant other observable inputs (Level 2) \| Derivative liabilities [Member] \| Foreign currency option contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	-535
Significant other observable inputs (Level 2) \| Derivative liabilities [Member] \| Futures contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	'
Significant other observable inputs (Level 2) \| Derivative liabilities [Member] \| Credit default swaps (protection purchased) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	-71
Significant other observable inputs (Level 2) \| Derivative liabilities [Member] \| Insurance-linked securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Significant other observable inputs (Level 2) \| Derivative liabilities [Member] \| Total return swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Significant other observable inputs (Level 2) \| Derivative liabilities [Member] \| Interest rate swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	-9,145	-2,558
Significant other observable inputs (Level 2) \| Derivative liabilities [Member] \| TBAs [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	-1,331
Significant other observable inputs (Level 2) \| Notes And Loan Receivables And Notes Securitization [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Significant other observable inputs (Level 2) \| Annuities and residuals [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Significant other observable inputs (Level 2) \| Private equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Significant other observable inputs (Level 2) \| Other invested assets funds held directly managed [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Funds held - directly managed	0	0
Significant other observable inputs (Level 2) \| Real estate investment trust [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant other observable inputs (Level 2) \| Energy [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant other observable inputs (Level 2) \| Finance [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	9,718	9,556
Significant other observable inputs (Level 2) \| Insurance [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant other observable inputs (Level 2) \| Consumer noncyclical [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant other observable inputs (Level 2) \| Communications [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant other observable inputs (Level 2) \| Technology [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant other observable inputs (Level 2) \| Industrials [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant other observable inputs (Level 2) \| Consumer cyclical [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant other observable inputs (Level 2) \| Utilities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant other observable inputs (Level 2) \| Other equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant other observable inputs (Level 2) \| Mutual funds and exchange traded funds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	181,814	139,322
Significant other observable inputs (Level 2) \| US Government and government sponsored enterpises [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	1,855,443	1,623,859
Funds held - directly managed	154,590	157,296
Significant other observable inputs (Level 2) \| US states, territories and municipalities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	97,830	16,207
Funds held - directly managed	0	0
Significant other observable inputs (Level 2) \| Non US sovereign government supranational and government related [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	2,288,627	2,353,699
Funds held - directly managed	128,323	137,186
Significant other observable inputs (Level 2) \| Corporate [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	5,980,652	6,048,663
Funds held - directly managed	214,482	248,947
Significant other observable inputs (Level 2) \| Asset-backed securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	725,466	691,654
Significant other observable inputs (Level 2) \| Residential mortgage-backed securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	2,394,941	2,268,517
Significant other observable inputs (Level 2) \| Other mortgage-backed securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	51,088	35,747
Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	612,723	554,957
Short-term investments	0	0
Equities	37,529	38,045
Other invested assets	109,813	103,853
Funds held - directly managed	16,105	15,451
Total	776,170	712,306
Significant unobservable inputs (Level 3) [Member] \| Short-term investments [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Funds held - directly managed	'	0
Significant unobservable inputs (Level 3) [Member] \| Derivative assets [Member] \| Foreign exchange forward contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Significant unobservable inputs (Level 3) [Member] \| Derivative assets [Member] \| Foreign currency option contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	'
Significant unobservable inputs (Level 3) [Member] \| Derivative assets [Member] \| Futures contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Significant unobservable inputs (Level 3) [Member] \| Derivative assets [Member] \| Total return swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	408	79
Significant unobservable inputs (Level 3) [Member] \| Derivative assets [Member] \| Interest rate swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	0
Significant unobservable inputs (Level 3) [Member] \| Derivative assets [Member] \| TBAs [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Significant unobservable inputs (Level 3) [Member] \| Derivative liabilities [Member] \| Foreign exchange forward contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Significant unobservable inputs (Level 3) [Member] \| Derivative liabilities [Member] \| Foreign currency option contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	0
Significant unobservable inputs (Level 3) [Member] \| Derivative liabilities [Member] \| Futures contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	'
Significant unobservable inputs (Level 3) [Member] \| Derivative liabilities [Member] \| Credit default swaps (protection purchased) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	0
Significant unobservable inputs (Level 3) [Member] \| Derivative liabilities [Member] \| Insurance-linked securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	-950	-268
Significant unobservable inputs (Level 3) [Member] \| Derivative liabilities [Member] \| Total return swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	-310	-599
Significant unobservable inputs (Level 3) [Member] \| Derivative liabilities [Member] \| Interest rate swaps [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	0	0
Significant unobservable inputs (Level 3) [Member] \| Derivative liabilities [Member] \| TBAs [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	'	0
Significant unobservable inputs (Level 3) [Member] \| Notes And Loan Receivables And Notes Securitization [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	38,603	41,446
Significant unobservable inputs (Level 3) [Member] \| Annuities and residuals [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	17,134	24,064
Significant unobservable inputs (Level 3) [Member] \| Private equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Other invested assets	54,928	39,131
Significant unobservable inputs (Level 3) [Member] \| Other invested assets funds held directly managed [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Funds held - directly managed	15,800	15,165
Significant unobservable inputs (Level 3) [Member] \| Real estate investment trust [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant unobservable inputs (Level 3) [Member] \| Energy [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant unobservable inputs (Level 3) [Member] \| Finance [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	19,564	20,207
Significant unobservable inputs (Level 3) [Member] \| Insurance [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant unobservable inputs (Level 3) [Member] \| Consumer noncyclical [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant unobservable inputs (Level 3) [Member] \| Communications [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	2,067	2,199
Significant unobservable inputs (Level 3) [Member] \| Technology [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	7,645	7,752
Significant unobservable inputs (Level 3) [Member] \| Industrials [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant unobservable inputs (Level 3) [Member] \| Consumer cyclical [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant unobservable inputs (Level 3) [Member] \| Utilities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	0	0
Significant unobservable inputs (Level 3) [Member] \| Other equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	7	0
Significant unobservable inputs (Level 3) [Member] \| Mutual funds and exchange traded funds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Equities	8,246	7,887
Significant unobservable inputs (Level 3) [Member] \| US Government and government sponsored enterpises [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	0	0
Funds held - directly managed	0	0
Significant unobservable inputs (Level 3) [Member] \| US states, territories and municipalities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	123,617	108,380
Funds held - directly managed	305	286
Significant unobservable inputs (Level 3) [Member] \| Non US sovereign government supranational and government related [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	0	0
Funds held - directly managed	0	0
Significant unobservable inputs (Level 3) [Member] \| Corporate [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	0	0
Funds held - directly managed	0	0
Significant unobservable inputs (Level 3) [Member] \| Asset-backed securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	489,106	446,577
Significant unobservable inputs (Level 3) [Member] \| Residential mortgage-backed securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	0	0
Significant unobservable inputs (Level 3) [Member] \| Other mortgage-backed securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fixed maturities	$0	$0

Fair_Value_Details_narrative_i

Fair Value (Details - narrative items) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
Fair Value - Other Details [Line Items]	'	'	'	'
Cash and cash equivalents	$1,208,220,000	$1,496,485,000	$1,261,540,000	$1,121,705,000
Accrued investment income	170,508,000	185,717,000	'	'
Fair Value Assets Level 2 To Level 1 Transfers Amount	0	'	0	'
Fair Value Assets Level 2 To Level 1 Transfers Amount 2	0	'	0	'
Funds held directly managed [Member]	'	'	'	'
Fair Value - Other Details [Line Items]	'	'	'	'
Cash and cash equivalents	41,000,000	84,800,000	'	'
Accrued investment income	6,200,000	6,700,000	'	'
Other net assets	109,000,000	133,000,000	'	'
Trading securities [Member] \| Other invested assets [Member]	'	'	'	'
Fair Value - Other Details [Line Items]	'	'	'	'
Carrying amount of other invested assets not at fair value	189,400,000	185,800,000	'	'
Senior Notes Debt [Member] \| Notes Issued By Partner Re Finance A LLC [Member]	'	'	'	'
Fair Value - Other Details [Line Items]	'	'	'	'
Face amount of debt instrument	250,000,000	250,000,000	'	'
Senior Notes Debt [Member] \| Notes Issued By Partner Re Finance B LLC [Member]	'	'	'	'
Fair Value - Other Details [Line Items]	'	'	'	'
Face amount of debt instrument	500,000,000	500,000,000	'	'
Capital efficient notes [Member] \| Notes Issued By Partner Re Finance II Inc [Member]	'	'	'	'
Fair Value - Other Details [Line Items]	'	'	'	'
Face amount of debt instrument	$63,000,000	$63,000,000	'	'

Fair_Value_Details_Level_3_rol

Fair Value (Details - Level 3 rollforward) (USD $)	3 Months Ended				6 Months Ended
Fair Value (Details - Level 3 rollforward) (USD $)	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	$719,763,000		$792,328,000		$712,306,000		$790,421,000
Realized and unrealized investment gains (losses) included in net income (loss)	8,336,000		-21,770,000		18,855,000		-30,062,000
Purchases	89,769,000		145,943,000		158,773,000		193,884,000
Settlements	-41,698,000		-26,797,000		-113,764,000		-64,539,000
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	776,170,000		889,704,000		776,170,000		889,704,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	9,898,000		-24,395,000		20,686,000		-28,092,000
Fixed maturities [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	561,168,000		658,667,000		554,957,000		657,273,000
Realized and unrealized investment gains (losses) included in net income (loss)	9,101,000		-19,892,000		15,989,000		-19,188,000
Purchases	72,295,000		128,009,000		135,978,000		155,165,000
Settlements	-29,841,000		-21,437,000		-94,201,000		-47,903,000
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	612,723,000		745,347,000		612,723,000		745,347,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	9,143,000		-19,750,000		16,293,000		-19,006,000
Fixed maturities [Member] \| US states, territories and municipalities [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	113,467,000		232,292,000		108,380,000		233,235,000
Realized and unrealized investment gains (losses) included in net income (loss)	5,960,000		-13,009,000		6,852,000		-13,858,000
Purchases	4,260,000		0		8,525,000		0
Settlements	-70,000		-120,000		-140,000		-214,000
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	123,617,000		219,163,000		123,617,000		219,163,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	5,959,000		-13,009,000		6,849,000		-13,858,000
Fixed maturities [Member] \| Corporate [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	'		100,716,000		'		100,904,000
Realized and unrealized investment gains (losses) included in net income (loss)	'		-820,000		'		-1,008,000
Purchases	'		0		'		0
Settlements	'		0		'		0
Net transfers (out of)/ into Level 3	'		0		'		0
Balance, end of year	'		99,896,000		'		99,896,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	'		-820,000		'		-1,008,000
Fixed maturities [Member] \| Asset-backed securities [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	447,701,000		325,659,000		446,577,000		323,134,000
Realized and unrealized investment gains (losses) included in net income (loss)	3,141,000		-6,063,000		9,137,000		-4,322,000
Purchases	68,035,000		128,009,000		127,453,000		155,165,000
Settlements	-29,771,000		-21,317,000		-94,061,000		-47,689,000
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	489,106,000		426,288,000		489,106,000		426,288,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	3,184,000		-5,921,000		9,444,000		-4,140,000
Equities [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	40,270,000		27,642,000		38,045,000		27,728,000
Realized and unrealized investment gains (losses) included in net income (loss)	-2,749,000		919,000		-524,000		833,000
Purchases	8,000		2,040,000		8,000		2,040,000
Settlements	0		0		0		0
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	37,529,000		30,601,000		37,529,000		30,601,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	-2,749,000		919,000		-524,000		833,000
Equities [Member] \| Finance [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	22,706,000		12,553,000		20,207,000		13,477,000
Realized and unrealized investment gains (losses) included in net income (loss)	-3,142,000		447,000		-643,000		-477,000
Purchases	0		0		0		0
Settlements	0		0		0		0
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	19,564,000		13,000,000		19,564,000		13,000,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	-3,142,000		447,000		-643,000		-477,000
Equities [Member] \| Communications [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	2,111,000		0		2,199,000		0
Realized and unrealized investment gains (losses) included in net income (loss)	-44,000		0		-132,000		0
Purchases	0		2,040,000		0		2,040,000
Settlements	0		0		0		0
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	2,067,000		2,040,000		2,067,000		2,040,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	-44,000		0		-132,000		0
Equities [Member] \| Technology [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	7,400,000		7,647,000		7,752,000		6,987,000
Realized and unrealized investment gains (losses) included in net income (loss)	245,000		365,000		-107,000		1,025,000
Purchases	0		0		0		0
Settlements	0		0		0		0
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	7,645,000		8,012,000		7,645,000		8,012,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	245,000		365,000		-107,000		1,025,000
Equities [Member] \| Other equities [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	0		'		0		'
Realized and unrealized investment gains (losses) included in net income (loss)	-1,000		'		-1,000		'
Purchases	8,000		'		8,000		'
Settlements	0		'		0		'
Net transfers (out of)/ into Level 3	0		'		0		'
Balance, end of year	7,000		'		7,000		'
Change in unrealized investment gains (losses) relating to assets held at the end of period	-1,000		'		-1,000		'
Equities [Member] \| Mutual funds and exchange traded funds [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	8,053,000		7,442,000		7,887,000		7,264,000
Realized and unrealized investment gains (losses) included in net income (loss)	193,000		107,000		359,000		285,000
Purchases	0		0		0		0
Settlements	0		0		0		0
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	8,246,000		7,549,000		8,246,000		7,549,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	193,000		107,000		359,000		285,000
Other invested assets [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	102,801,000		90,210,000		103,853,000		87,099,000
Realized and unrealized investment gains (losses) included in net income (loss)	1,403,000		-2,532,000		2,991,000		-9,001,000
Purchases	17,466,000		15,894,000		22,532,000		36,679,000
Settlements	-11,857,000		-5,360,000		-19,563,000		-16,565,000
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	109,813,000		98,212,000		109,813,000		98,212,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	2,923,000		-5,299,000		4,518,000		-8,277,000
Other invested assets [Member] \| Derivatives, net [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	-1,042,000		2,732,000		-788,000		3,911,000
Realized and unrealized investment gains (losses) included in net income (loss)	398,000		-520,000	[1]	864,000		-4,199,000
Purchases	-208,000	[2]	121,000		-928,000	[3]	121,000	[1]
Settlements	0		0		0		2,500,000
Issuances	200,000		800,000		900,000		800,000
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	-852,000		2,333,000		-852,000		2,333,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	398,000		-3,020,000		864,000		-3,698,000
Other invested assets [Member] \| Notes And Loan Receivables And Notes Securitization [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	42,243,000		34,058,000		41,446,000		34,902,000
Realized and unrealized investment gains (losses) included in net income (loss)	2,967,000		-1,322,000		3,567,000		-1,383,000
Purchases	2,196,000		11,990,000		2,916,000		13,350,000
Settlements	-8,803,000		-502,000		-9,326,000		-2,645,000
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	38,603,000		44,224,000		38,603,000		44,224,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	4,486,000		-1,322,000		5,086,000		-1,383,000
Other invested assets [Member] \| Annuities and residuals [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	18,945,000		35,656,000		24,064,000		46,882,000
Realized and unrealized investment gains (losses) included in net income (loss)	302,000		-243,000		391,000		93,000
Purchases	0		0		0		0
Settlements	-2,113,000		-4,858,000		-7,321,000		-16,420,000	[4]
Sales	'		'		'		-6,300,000
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	17,134,000		30,555,000		17,134,000		30,555,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	303,000		-510,000		431,000		316,000
Other invested assets [Member] \| Private equities [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	42,655,000		17,764,000		39,131,000		1,404,000
Realized and unrealized investment gains (losses) included in net income (loss)	-2,264,000		-447,000		-1,831,000		-3,512,000
Purchases	15,478,000		3,783,000		20,544,000		23,208,000
Settlements	-941,000		0		-2,916,000		0
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	54,928,000		21,100,000		54,928,000		21,100,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	-2,264,000		-447,000		-1,863,000		-3,512,000
Funds Held - Directly Managed investment [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	15,524,000		15,809,000		15,451,000		18,321,000
Realized and unrealized investment gains (losses) included in net income (loss)	581,000		-265,000		399,000		-2,706,000
Purchases	0		0		255,000		0
Settlements	0		0		0		-71,000
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	16,105,000		15,544,000		16,105,000		15,544,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	581,000		-265,000		399,000		-1,642,000
Funds Held - Directly Managed investment [Member] \| Other invested assets funds held directly managed [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	15,223,000		15,468,000		15,165,000		17,976,000
Realized and unrealized investment gains (losses) included in net income (loss)	577,000		-261,000		380,000		-2,698,000
Purchases	0		0		255,000		0
Settlements	0		0		0		-71,000
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	15,800,000		15,207,000		15,800,000		15,207,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	577,000		-261,000		380,000		-1,634,000
Funds Held - Directly Managed investment [Member] \| US states, territories and municipalities [Member]	'		'		'		'
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'		'		'		'
Balance, beginning of year	301,000		341,000		286,000		345,000
Realized and unrealized investment gains (losses) included in net income (loss)	4,000		-4,000		19,000		-8,000
Purchases	0		0		0		0
Settlements	0		0		0		0
Net transfers (out of)/ into Level 3	0		0		0		0
Balance, end of year	305,000		337,000		305,000		337,000
Change in unrealized investment gains (losses) relating to assets held at the end of period	$4,000		($4,000)		$19,000		($8,000)

[1]	Purchases and issuances of derivatives include issuances of $0.8 million.
[2]	Purchases and issuances of derivatives include issuances of $0.2 million.
[3]	Purchases and issuances of derivatives include issuances of $0.9 million.
[4]	Settlement and sales of annuities and residuals include sales of $6.3 million.

Fair_Value_Details_Valuation_T

Fair Value (Details - Valuation Technique and Inputs) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Fixed maturities	14,006,770	13,593,303
Equities	1,253,082	1,221,053
Other invested assets carried at fair value	103,680	135,139
Funds held directly managed investments carried at fair value	513,500	561,306
Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Fixed maturities	612,723	554,957
Equities	37,529	38,045
Other invested assets carried at fair value	109,813	103,853
Funds held directly managed investments carried at fair value	16,105	15,451
US states, territories and municipalities [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Fixed maturities	123,617	108,380
US states, territories and municipalities [Member] \| Minimum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	2.60%	2.90%
US states, territories and municipalities [Member] \| Maximum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	10.00%	9.90%
US states, territories and municipalities [Member] \| Weighted Average [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	5.20%	5.30%
Asset-backed securities - interest only [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Fixed maturities	11	21
Asset-backed securities - interest only [Member] \| Minimum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	5.20%	5.50%
Asset-backed securities - interest only [Member] \| Maximum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	10.30%	10.70%
Asset-backed securities - interest only [Member] \| Weighted Average [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	6.90%	8.80%
Asset-backed securities - other [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Fixed maturities	489,095	446,556
Asset-backed securities - other [Member] \| Minimum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	3.90%	4.00%
Asset-backed securities - other [Member] \| Maximum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	12.00%	12.20%
Asset-backed securities - other [Member] \| Weighted Average [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	6.80%	7.10%
Finance [Member] \| Weighted market comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Equities	13,782	15,483
Finance [Member] \| Profitability Analysis [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Equities	5,782	4,724
Finance [Member] \| Minimum [Member] \| Weighted market comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Net income multiple	19	14.6
Tangible book value multiple	1.3	1.1
Liquidity discount	25.00%	25.00%
Comparable return	0.00%	8.50%
Finance [Member] \| Minimum [Member] \| Profitability Analysis [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Projected Return On Equity	14.00%	14.00%
Finance [Member] \| Maximum [Member] \| Weighted market comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Net income multiple	19	14.6
Tangible book value multiple	1.3	1.1
Liquidity discount	25.00%	25.00%
Comparable return	0.00%	8.50%
Finance [Member] \| Maximum [Member] \| Profitability Analysis [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Projected Return On Equity	14.00%	14.00%
Finance [Member] \| Weighted Average [Member] \| Weighted market comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Net income multiple	19	14.6
Tangible book value multiple	1.3	1.1
Liquidity discount	25.00%	25.00%
Comparable return	0.00%	8.50%
Finance [Member] \| Weighted Average [Member] \| Profitability Analysis [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Projected Return On Equity	14.00%	14.00%
Communications [Member] \| Weighted market comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Equities	2,067	2,199
Communications [Member] \| Minimum [Member] \| Weighted market comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Comparable return	-6.00%	0.00%
Adjusted earnings multiple	9.4	9.4
Communications [Member] \| Maximum [Member] \| Weighted market comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Comparable return	-6.00%	0.00%
Adjusted earnings multiple	9.4	9.4
Communications [Member] \| Weighted Average [Member] \| Weighted market comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Comparable return	-6.00%	0.00%
Adjusted earnings multiple	9.4	9.4
Technology [Member] \| Weighted market comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Equities	7,645	7,752
Technology [Member] \| Minimum [Member] \| Weighted market comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Adjusted earnings multiple	9	4.4
Gross revenue/fair value	1.5	0.9
Technology [Member] \| Maximum [Member] \| Weighted market comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Adjusted earnings multiple	9	4.4
Gross revenue/fair value	1.5	0.9
Technology [Member] \| Weighted Average [Member] \| Weighted market comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Adjusted earnings multiple	9	4.4
Gross revenue/fair value	1.5	0.9
Total return swaps [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Other invested assets carried at fair value	98	-520
Total return swaps [Member] \| Minimum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	3.70%	2.80%
Total return swaps [Member] \| Maximum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	17.40%	18.90%
Total return swaps [Member] \| Weighted Average [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	9.60%	17.00%
Notes and loan receivables [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Other invested assets carried at fair value	16,984	21,280
Notes and loan receivables [Member] \| Minimum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	17.50%	17.50%
Gross revenue/fair value	1.3	1.5
Notes and loan receivables [Member] \| Maximum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	17.50%	17.50%
Gross revenue/fair value	1.5	1.5
Notes and loan receivables [Member] \| Weighted Average [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	17.50%	17.50%
Gross revenue/fair value	1.5	1.5
Notes securitization [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Other invested assets carried at fair value	21,619	20,166
Notes securitization [Member] \| Minimum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	4.00%	6.20%
Notes securitization [Member] \| Maximum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	5.90%	6.20%
Notes securitization [Member] \| Weighted Average [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	5.80%	6.20%
Annuities and residuals [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Other invested assets carried at fair value	17,134	24,064
Annuities and residuals [Member] \| Minimum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	4.00%	4.00%
Prepayment speed	0.00%	0.00%
Constant default rate	0.30%	0.30%
Annuities and residuals [Member] \| Maximum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	7.40%	7.90%
Prepayment speed	15.00%	15.00%
Constant default rate	23.00%	35.00%
Annuities and residuals [Member] \| Weighted Average [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	5.90%	5.80%
Prepayment speed	5.60%	6.40%
Constant default rate	8.20%	12.40%
Private Equity-Direct [Member] \| Discounted Cash Flow And Weighted Market Comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Other invested assets carried at fair value	10,657	11,742
Private Equity-Direct [Member] \| Minimum [Member] \| Discounted Cash Flow And Weighted Market Comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Net income multiple	9.2	8.3
Tangible book value multiple	1.6	1.6
Recoverability of intangible assets	0	0
Private Equity-Direct [Member] \| Maximum [Member] \| Discounted Cash Flow And Weighted Market Comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Net income multiple	9.2	8.3
Tangible book value multiple	1.6	1.6
Recoverability of intangible assets	0	0
Private Equity-Direct [Member] \| Weighted Average [Member] \| Discounted Cash Flow And Weighted Market Comparables [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Net income multiple	9.2	8.3
Tangible book value multiple	1.6	1.6
Recoverability of intangible assets	0	0
Private equity funds [Member] \| Lag reported market value \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Other invested assets carried at fair value	14,447	8,993
Private equity funds [Member] \| Minimum [Member] \| Lag reported market value \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Net asset value, as reported	100.00%	100.00%
Market adjustments	1.00%	1.80%
Private equity funds [Member] \| Maximum [Member] \| Lag reported market value \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Net asset value, as reported	100.00%	100.00%
Market adjustments	6.10%	9.80%
Private equity funds [Member] \| Weighted Average [Member] \| Lag reported market value \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Net asset value, as reported	100.00%	100.00%
Market adjustments	2.40%	8.30%
Private Equity - Other [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Other invested assets carried at fair value	29,824	18,396
Private Equity - Other [Member] \| Minimum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	'	3.80%
Effective Yield	5.80%	'
Private Equity - Other [Member] \| Maximum [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	'	3.80%
Effective Yield	5.80%	'
Private Equity - Other [Member] \| Weighted Average [Member] \| Discounted cash flow [Member] \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Credit spreads	'	3.80%
Effective Yield	5.80%	'
Other invested assets [Member] \| Lag reported market value \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Funds held directly managed investments carried at fair value	15,800	15,165
Other invested assets [Member] \| Minimum [Member] \| Lag reported market value \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Net asset value, as reported	100.00%	100.00%
Market adjustments	-18.70%	-22.90%
Other invested assets [Member] \| Maximum [Member] \| Lag reported market value \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Net asset value, as reported	100.00%	100.00%
Market adjustments	0.00%	0.00%
Other invested assets [Member] \| Weighted Average [Member] \| Lag reported market value \| Significant unobservable inputs (Level 3) [Member]	'	'
Fair Value Inputs Assets Quantitative Information [Line Items]	'	'
Net asset value, as reported	100.00%	100.00%
Market adjustments	-12.40%	-15.50%

Fair_Value_Details_Change_in_f

Fair Value (Details - Change in fair value option table) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Fair Value, Option, Quantitative Disclosures [Line Items]	'	'	'	'
Change in unrealized gain/loss	$133,012	($471,078)	$264,915	($503,559)
Fixed maturities and short term investments [Member]	'	'	'	'
Fair Value, Option, Quantitative Disclosures [Line Items]	'	'	'	'
Change in unrealized gain/loss	123,434	-395,757	243,233	-467,427
Equities [Member]	'	'	'	'
Fair Value, Option, Quantitative Disclosures [Line Items]	'	'	'	'
Change in unrealized gain/loss	6,322	-57,715	16,647	-7,649
Other invested assets [Member]	'	'	'	'
Fair Value, Option, Quantitative Disclosures [Line Items]	'	'	'	'
Change in unrealized gain/loss	2,515	-2,234	3,558	-7,068
Funds Held - Directly Managed investment [Member]	'	'	'	'
Fair Value, Option, Quantitative Disclosures [Line Items]	'	'	'	'
Change in unrealized gain/loss	$741	($15,372)	$1,477	($21,415)

Fair_Value_Fair_Value_Details_

Fair Value Fair Value (Details - Fair Value of Liabilities) (USD $)	Jun. 30, 2014		Dec. 31, 2013
Fair value of financial instrument liabilities [Line Items]	'		'
Debt related to senior notes	$750,000,000		$750,000,000
Debt related to capital efficient notes	70,989,000		70,989,000
Senior Notes Debt [Member] \| Notes Issued By Partner Re Finance A LLC [Member]	'		'
Fair value of financial instrument liabilities [Line Items]	'		'
Face amount of debt instrument	250,000,000		250,000,000
Senior Notes Debt [Member] \| Notes Issued By Partner Re Finance B LLC [Member]	'		'
Fair value of financial instrument liabilities [Line Items]	'		'
Face amount of debt instrument	500,000,000		500,000,000
Capital efficient notes [Member] \| Notes Issued By Partner Re Finance II Inc [Member]	'		'
Fair value of financial instrument liabilities [Line Items]	'		'
Face amount of debt instrument	63,000,000		63,000,000
Estimate of Fair Value Measurement [Member] \| Significant other observable inputs (Level 2) \| Senior Notes Debt [Member]	'		'
Fair value of financial instrument liabilities [Line Items]	'		'
Debt related to senior notes	865,321,000	[1]	844,331,000	[1]
Estimate of Fair Value Measurement [Member] \| Significant other observable inputs (Level 2) \| Capital efficient notes [Member]	'		'
Fair value of financial instrument liabilities [Line Items]	'		'
Debt related to capital efficient notes	62,015,000	[2]	61,094,000	[2]
Carrying value [Member] \| Senior Notes Debt [Member]	'		'
Fair value of financial instrument liabilities [Line Items]	'		'
Debt related to senior notes	750,000,000	[1]	750,000,000	[1]
Carrying value [Member] \| Capital efficient notes [Member]	'		'
Fair value of financial instrument liabilities [Line Items]	'		'
Debt related to capital efficient notes	$63,384,000	[2]	$63,384,000	[2]

[1]	PartnerRe Finance A LLC and PartnerRe Finance B LLC, the issuers of the Senior Notes, do not meet consolidation requirements under U.S. GAAP. Accordingly, the Company shows the related intercompany debt of $750 million in its Condensed Consolidated Balance Sheets at JuneB 30, 2014 and DecemberB 31, 2013.
[2]	PartnerRe Finance II Inc., the issuer of the CENts, does not meet consolidation requirements under U.S. GAAP. Accordingly, the Company shows the related intercompany debt of $71 million in its Condensed Consolidated Balance Sheets at JuneB 30, 2014 and DecemberB 31, 2013.

Derivatives_Details_Balance_Sh

Derivatives (Details - Balance Sheet) (USD $)	Jun. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014		Dec. 31, 2013
Derivative [Line Items]	'		'
Derivative Fair Value Of Derivative Asset	$7,998	[1]	$44,508	[1]
Derivative Fair Value Of Derivative Liability	-14,983	[1]	-14,010	[1]
Fair value net	-6,985		30,498
Foreign exchange forward contracts [Member]	'		'
Derivative [Line Items]	'		'
Derivative Fair Value Of Derivative Asset	2,410		1,249
Derivative Fair Value Of Derivative Liability	-4,171		-8,648
Net notional exposure	2,130,049		1,957,409
Fair value net	-1,761		-7,399
Foreign currency option contracts [Member]	'		'
Derivative [Line Items]	'		'
Derivative Fair Value Of Derivative Asset	746		0
Derivative Fair Value Of Derivative Liability	0		-535
Net notional exposure	85,547		87,620
Fair value net	746		-535
Futures contracts [Member]	'		'
Derivative [Line Items]	'		'
Derivative Fair Value Of Derivative Asset	2,706		41,031
Derivative Fair Value Of Derivative Liability	-407		0
Net notional exposure	2,987,520		3,266,004
Fair value net	2,299		41,031
Credit default swaps (protection purchased) [Member]	'		'
Derivative [Line Items]	'		'
Derivative Fair Value Of Derivative Asset	'		0
Derivative Fair Value Of Derivative Liability	'		-71
Net notional exposure	'		14,000
Fair value net	'		-71
Insurance-linked securities [Member]	'		'
Derivative [Line Items]	'		'
Derivative Fair Value Of Derivative Asset	0	[2]	0	[2]
Derivative Fair Value Of Derivative Liability	-950	[2]	-268	[2]
Net notional exposure	170,969	[2]	168,724	[2]
Fair value net	-950	[2]	-268	[2]
Total return swaps [Member]	'		'
Derivative [Line Items]	'		'
Derivative Fair Value Of Derivative Asset	408		79
Derivative Fair Value Of Derivative Liability	-310		-599
Net notional exposure	42,605		31,740
Fair value net	98		-520
Interest rate swaps [Member]	'		'
Derivative [Line Items]	'		'
Derivative Fair Value Of Derivative Asset	0	[3]	2,147	[3]
Derivative Fair Value Of Derivative Liability	-9,145	[3]	-2,558	[3]
Net notional exposure	202,116	[3]	202,859	[3]
Fair value net	-9,145	[3]	-411	[3]
TBAs [Member]	'		'
Derivative [Line Items]	'		'
Derivative Fair Value Of Derivative Asset	1,728		2
Derivative Fair Value Of Derivative Liability	0		-1,331
Net notional exposure	154,210		183,835
Fair value net	$1,728		($1,329)

[1]	Amounts include all derivative instruments, irrespective of whether there is a legally enforceable master netting arrangement in place.
[2]	At JuneB 30, 2014 and DecemberB 31, 2013, insurance-linked securities include a longevity swap for which the notional amount is not reflective of the overall potential exposure of the swap. As such, the Company has included the probable maximum loss under the swap within the net notional exposure as an approximation of the notional amount.
[3]	The Company enters into interest rate swaps to mitigate notional exposures on certain total return swaps and certain fixed maturities. Only the notional value of interest rate swaps on fixed maturities is presented separately in the table.

Derivatives_Details_Income_Sta

Derivatives (Details - Income Statement) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Gain (loss) on derivatives recognized in income	($31,606)	$27,903	($40,210)	$34,327
Derivates not designated as hedges [Member] \| Included in net foreign exchange gains and losses [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Gain (loss) on derivatives recognized in income	1,390	-57,279	10,040	-40,314
Derivates not designated as hedges [Member] \| Included in net realized and unrealized investment gains and losses [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Gain (loss) on derivatives recognized in income	-32,996	85,182	-50,250	74,641
Derivates not designated as hedges [Member] \| Foreign exchange forward contracts [Member] \| Included in net foreign exchange gains and losses [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Gain (loss) on derivatives recognized in income	637	-54,004	8,892	-36,474
Derivates not designated as hedges [Member] \| Foreign currency option contracts [Member] \| Included in net foreign exchange gains and losses [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Gain (loss) on derivatives recognized in income	753	-3,275	1,148	-3,840
Derivates not designated as hedges [Member] \| Futures contracts [Member] \| Included in net realized and unrealized investment gains and losses [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Gain (loss) on derivatives recognized in income	-34,428	91,679	-50,501	85,376
Derivates not designated as hedges [Member] \| Credit default swaps (protection purchased) [Member] \| Included in net realized and unrealized investment gains and losses [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Gain (loss) on derivatives recognized in income	0	-22	-3	-120
Derivates not designated as hedges [Member] \| Credit default swaps (assumed risks) [Member] \| Included in net realized and unrealized investment gains and losses [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Gain (loss) on derivatives recognized in income	0	8	0	115
Derivates not designated as hedges [Member] \| Insurance-linked securities [Member] \| Included in net realized and unrealized investment gains and losses [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Gain (loss) on derivatives recognized in income	13	2,469	256	-550
Derivates not designated as hedges [Member] \| Total return swaps [Member] \| Included in net realized and unrealized investment gains and losses [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Gain (loss) on derivatives recognized in income	400	-2,988	618	-3,659
Derivates not designated as hedges [Member] \| Interest rate swaps [Member] \| Included in net realized and unrealized investment gains and losses [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Gain (loss) on derivatives recognized in income	-3,348	2,399	-8,734	3,176
Derivates not designated as hedges [Member] \| TBAs [Member] \| Included in net realized and unrealized investment gains and losses [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Gain (loss) on derivatives recognized in income	$4,367	($8,363)	$8,114	($9,697)

Derivatives_Details_narrative_

Derivatives (Details - narrative items)	3 Months Ended
Derivatives (Details - narrative items)	Jun. 30, 2014
Minimum [Member]	'
Derivatives Fair Value [Line Items]	'
Credit derivative term	'0 years
Maximum [Member]	'
Derivatives Fair Value [Line Items]	'
Credit derivative term	'5 years
Designated as Hedging Instrument [Member]	'
Derivatives Fair Value [Line Items]	'
Derivative number of instruments held	0

Offsetting_Details

Offsetting (Details) (USD $)	Jun. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014		Dec. 31, 2013
Offsetting [Abstract]	'		'
Gross amounts of recognized, asset	$7,998	[1]	$44,508	[1]
Gross amount offset in the balance sheet	0		0
Net amounts of asset/ liabilities presented in the balance sheet, asset	7,998		44,508
Gross amounts not offset in the balance sheet, financial instruments, asset	-616		-2
Gross amounts not offset in the balance sheet, cash collateral received/ pledged	0		0
Net amount, asset	7,382		44,506
Gross amounts of recognized, liability	-14,983	[1]	-14,010	[1]
Gross amount offset in the balance sheet	0		0
Net amounts presented in the balance sheet, liability	-14,983		-14,010
Gross amounts not offset in the balance sheet, financial instruments, liability	616		2
Gross amounts not offset in the balance sheet, cash collateral received	0		4,341
Net amount, liability	($14,367)		($9,667)

[1]	Amounts include all derivative instruments, irrespective of whether there is a legally enforceable master netting arrangement in place.

Net_Income_Loss_Per_Share_Deta

Net Income (Loss) Per Share (Details) (USD $)	3 Months Ended				6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Numerator [Abstract]	'		'		'		'
Net income (loss) attributable to PartnerRe Ltd.	$271,841		($175,571)		$581,683		$58,799
Dividends on preferred shares	14,184		14,796		28,367		29,494
Loss on redemption of preferred shares	0		0		0		9,135
Net income (loss) attributable to PartnerRe Ltd. common shareholders	$257,657		($190,367)		$553,316		$20,170
Denominator [Abstract]	'		'		'		'
Weighted average number of common shares outstanding	50,241,216		56,485,882		50,942,980		57,449,528
Share options and other	1,087,545	[1],[2]	0	[1],[2]	1,081,471	[1],[2]	1,084,998	[1],[2]
Weighted average number of common shares and common share equivalents outstanding	51,328,761		56,485,882		52,024,451		58,534,526
Basic net income (loss)	$5.13		($3.37)		$10.86		$0.35
Diluted net income (loss)	$5.02	[1],[2]	($3.37)	[1],[2]	$10.64	[1],[2]	$0.34	[1],[2]
Anti-dilutive common shares excluded from weighted average number of common shares and common share equivalents outstanding - diluted	149,600	[1]	142,479	[1]	119,870	[1]	104,920	[1]
Weighted average number of potentially dilutive common shares and common share equivalents outstanding	'		1,003,849		'		'

[1]	Where the exercise price of share based awards is greater than the average market price of the common shares, the common shares are considered anti-dilutive and are excluded from the calculation of weighted average number of common shares and common share equivalents outstanding - diluted.
[2]	Dilutive securities, in the form of share options and other, of 1,003,849 shares were not included in the weighted average number of common shares and common share equivalents outstanding - diluted, for the purpose of computing the diluted net loss per share because to do so would have been anti-dilutive for the three months ended JuneB 30, 2013.

Noncontrolling_interests_Detai

Noncontrolling interests (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Noncontrolling Interest [Line Items]	'	'	'	'	'
Total assets	$23,446,473	'	$23,446,473	'	$23,038,295
Total liabilities	16,489,070	'	16,489,070	'	16,272,136
Movement In Minority Interest [Roll Forward]	'	'	'	'	'
Balance at beginning of period	'	'	56,627	'	'
Net income attributable to noncontrolling interests	1,951	1,183	4,995	1,183	'
Balance at end of period	47,356	'	47,356	'	'
Lorenz Re [Member]	'	'	'	'	'
Noncontrolling Interest [Line Items]	'	'	'	'	'
Total assets	98,200	'	98,200	'	99,600
Total liabilities	23,500	'	23,500	'	11,100
Movement In Minority Interest [Roll Forward]	'	'	'	'	'
Balance at beginning of period	'	'	56,627	0	'
Net income attributable to noncontrolling interests	'	'	4,995	1,183	'
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	'	'	-14,266	0	'
Sale of shares to noncontrolling interests	'	'	0	47,136	'
Balance at end of period	$47,356	$48,319	$47,356	$48,319	'

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	3 Months Ended		6 Months Ended
Commitments and Contingencies (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Financing Receivable, Recorded Investment [Line Items]	'	'	'	'	'
Financing receivable allowance for credit losses	$2,200,000	'	$2,200,000	'	$2,800,000
Financing receivable acquired during period	2,200,000	27,000,000	2,300,000	27,200,000	'
Financing receivable significant sales	0	0	0	0	'
Performing Financing Receivable [Member]	'	'	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'	'	'
Financing receivable	12,900,000	'	12,900,000	'	24,500,000
Performing Financing Receivable [Member] \| Residential, Prime, Financing Receivable [Member]	'	'	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'	'	'
Financing receivable	10,900,000	'	10,900,000	'	19,800,000
Performing Financing Receivable [Member] \| Commercial Real Estate Other Receivable [Member]	'	'	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'	'	'
Financing receivable	2,000,000	'	2,000,000	'	4,700,000
Nonperforming Financing Receivable [Member]	'	'	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'	'	'
Financing receivable	$0	'	$0	'	$0

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended				6 Months Ended
Segment Information (Details) (USD $)	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Segment Reporting [Line Items]	'		'		'		'
Gross premiums written	$1,462,307,000		$1,340,582,000		$3,334,047,000		$3,097,467,000
Net premiums written	1,418,665,000		1,309,318,000		3,157,159,000		2,945,750,000
(Increase) decrease in unearned premiums	-65,596,000		-100,682,000		-550,308,000		-590,434,000
Net premiums earned	1,353,069,000		1,208,636,000		2,606,851,000		2,355,316,000
Losses and loss expenses and life policy benefits	-884,000,000		-867,000,000		-1,633,000,000		-1,528,000,000
Acquisition costs	-302,573,000		-241,743,000		-567,181,000		-475,942,000
Technical result	166,000,000		100,000,000		407,000,000		351,000,000
Other income	9,265,000		3,878,000		9,669,000		7,805,000
Other operating expenses	-107,072,000		-144,833,000		-218,534,000		-260,874,000
Underwriting result	68,000,000		-41,000,000		198,000,000		98,000,000
Net investment income	129,967,000		124,503,000		246,834,000		248,207,000
Net realized and unrealized investment gains (losses)	165,717,000		-299,215,000		307,888,000		-276,272,000
Interest expense	-12,240,000		-12,232,000		-24,477,000		-24,460,000
Amortization of intangible assets	-7,003,000		-7,045,000		-14,005,000		-14,091,000
Net foreign exchange gains (losses)	2,023,000		-10,584,000		2,693,000		-8,543,000
Income tax (expense) benefit	-78,440,000		74,569,000		-140,746,000		32,894,000
Interest in earnings (losses) of equity method investments	4,925,000		-3,479,000		10,989,000		3,736,000
Net income (loss)	273,792,000		-174,388,000		586,678,000		59,982,000
Non Life [Member]	'		'		'		'
Segment Reporting [Line Items]	'		'		'		'
Gross premiums written	1,136,000,000		1,106,000,000		2,719,000,000		2,607,000,000
Net premiums written	1,108,000,000		1,076,000,000		2,564,000,000		2,463,000,000
(Increase) decrease in unearned premiums	-66,000,000		-99,000,000		-530,000,000		-564,000,000
Net premiums earned	1,042,000,000		977,000,000		2,034,000,000		1,899,000,000
Losses and loss expenses and life policy benefits	-632,000,000		-686,000,000		-1,165,000,000		-1,166,000,000
Acquisition costs	-260,000,000		-209,000,000		-494,000,000		-417,000,000
Technical result	150,000,000		82,000,000		375,000,000		316,000,000
Other income	1,000,000		0		2,000,000		0
Other operating expenses	-61,000,000		-60,000,000		-126,000,000		-126,000,000
Underwriting result	90,000,000		22,000,000		251,000,000		190,000,000
Reinsurance Ratios [Abstract]	'		'		'		'
Loss ratio	60.60%	[1]	70.30%	[1]	57.30%	[1]	61.40%	[1]
Acquisition ratio	25.00%	[2]	21.40%	[2]	24.30%	[2]	22.00%	[2]
Technical ratio	85.60%	[3]	91.70%	[3]	81.60%	[3]	83.40%	[3]
Other operating expense ratio	5.90%	[4]	6.10%	[4]	6.20%	[4]	6.60%	[4]
Combined ratio	91.50%	[5]	97.80%	[5]	87.80%	[5]	90.00%	[5]
Non Life [Member] \| North America Segment [Member]	'		'		'		'
Segment Reporting [Line Items]	'		'		'		'
Gross premiums written	400,000,000		372,000,000		930,000,000		819,000,000
Net premiums written	392,000,000		360,000,000		919,000,000		807,000,000
(Increase) decrease in unearned premiums	-2,000,000		-3,000,000		-151,000,000		-117,000,000
Net premiums earned	390,000,000		357,000,000		768,000,000		690,000,000
Losses and loss expenses and life policy benefits	-240,000,000		-245,000,000		-499,000,000		-485,000,000
Acquisition costs	-102,000,000		-79,000,000		-194,000,000		-151,000,000
Technical result	48,000,000		33,000,000		75,000,000		54,000,000
Reinsurance Ratios [Abstract]	'		'		'		'
Loss ratio	61.50%	[1]	68.60%	[1]	65.00%	[1]	70.20%	[1]
Acquisition ratio	26.10%	[2]	22.10%	[2]	25.20%	[2]	21.90%	[2]
Technical ratio	87.60%	[3]	90.70%	[3]	90.20%	[3]	92.10%	[3]
Non Life [Member] \| Global (Non-US) P&C [Member]	'		'		'		'
Segment Reporting [Line Items]	'		'		'		'
Gross premiums written	155,000,000		160,000,000		519,000,000		532,000,000
Net premiums written	148,000,000		158,000,000		508,000,000		525,000,000
(Increase) decrease in unearned premiums	39,000,000		11,000,000		-141,000,000		-190,000,000
Net premiums earned	187,000,000		169,000,000		367,000,000		335,000,000
Losses and loss expenses and life policy benefits	-103,000,000		-106,000,000		-196,000,000		-173,000,000
Acquisition costs	-52,000,000		-34,000,000		-107,000,000		-84,000,000
Technical result	32,000,000		29,000,000		64,000,000		78,000,000
Reinsurance Ratios [Abstract]	'		'		'		'
Loss ratio	54.60%	[1]	62.90%	[1]	53.50%	[1]	51.80%	[1]
Acquisition ratio	27.90%	[2]	19.90%	[2]	29.00%	[2]	24.90%	[2]
Technical ratio	82.50%	[3]	82.80%	[3]	82.50%	[3]	76.70%	[3]
Non Life [Member] \| Global Specialty [Member]	'		'		'		'
Segment Reporting [Line Items]	'		'		'		'
Gross premiums written	438,000,000		413,000,000		917,000,000		857,000,000
Net premiums written	432,000,000		409,000,000		822,000,000		771,000,000
(Increase) decrease in unearned premiums	-26,000,000		-37,000,000		-61,000,000		-62,000,000
Net premiums earned	406,000,000		372,000,000		761,000,000		709,000,000
Losses and loss expenses and life policy benefits	-270,000,000		-284,000,000		-471,000,000		-469,000,000
Acquisition costs	-98,000,000		-90,000,000		-178,000,000		-165,000,000
Technical result	38,000,000		-2,000,000		112,000,000		75,000,000
Reinsurance Ratios [Abstract]	'		'		'		'
Loss ratio	66.50%	[1]	76.60%	[1]	61.90%	[1]	66.10%	[1]
Acquisition ratio	24.20%	[2]	24.10%	[2]	23.40%	[2]	23.30%	[2]
Technical ratio	90.70%	[3]	100.70%	[3]	85.30%	[3]	89.40%	[3]
Non Life [Member] \| Catastrophe Segment [Member]	'		'		'		'
Segment Reporting [Line Items]	'		'		'		'
Gross premiums written	143,000,000		161,000,000		353,000,000		399,000,000
Net premiums written	136,000,000		149,000,000		315,000,000		360,000,000
(Increase) decrease in unearned premiums	-77,000,000		-70,000,000		-177,000,000		-195,000,000
Net premiums earned	59,000,000		79,000,000		138,000,000		165,000,000
Losses and loss expenses and life policy benefits	-19,000,000		-51,000,000		1,000,000		-39,000,000
Acquisition costs	-8,000,000		-6,000,000		-15,000,000		-17,000,000
Technical result	32,000,000		22,000,000		124,000,000		109,000,000
Reinsurance Ratios [Abstract]	'		'		'		'
Loss ratio	33.40%	[1]	64.10%	[1]	-0.90%	[1]	23.80%	[1]
Acquisition ratio	13.00%	[2]	8.50%	[2]	11.40%	[2]	10.50%	[2]
Technical ratio	46.40%	[3]	72.60%	[3]	10.50%	[3]	34.30%	[3]
Life and Health [Member]	'		'		'		'
Segment Reporting [Line Items]	'		'		'		'
Gross premiums written	326,000,000		233,000,000		615,000,000		486,000,000
Net premiums written	311,000,000		232,000,000		593,000,000		481,000,000
(Increase) decrease in unearned premiums	0		0		-20,000,000		-25,000,000
Net premiums earned	311,000,000		232,000,000		573,000,000		456,000,000
Losses and loss expenses and life policy benefits	-252,000,000		-181,000,000		-468,000,000		-363,000,000
Acquisition costs	-43,000,000		-33,000,000		-73,000,000		-59,000,000
Technical result	16,000,000		18,000,000		32,000,000		34,000,000
Other income	3,000,000		3,000,000		4,000,000		6,000,000
Other operating expenses	-16,000,000		-17,000,000		-34,000,000		-35,000,000
Underwriting result	3,000,000		4,000,000		2,000,000		5,000,000
Net investment income	15,000,000		15,000,000		30,000,000		30,000,000
Allocated underwriting result	18,000,000	[6]	19,000,000	[6]	32,000,000	[6]	35,000,000	[6]
Corporate and Other [Member]	'		'		'		'
Segment Reporting [Line Items]	'		'		'		'
Gross premiums written	0		2,000,000		0		4,000,000
Net premiums written	0		1,000,000		0		2,000,000
(Increase) decrease in unearned premiums	0		-1,000,000		0		-2,000,000
Net premiums earned	0		0		0		0
Losses and loss expenses and life policy benefits	0		0		0		1,000,000
Acquisition costs	0		0		0		0
Technical result	0		0		0		1,000,000
Other income	5,000,000		1,000,000		4,000,000		2,000,000
Other operating expenses	-30,000,000		-68,000,000		-59,000,000		-100,000,000
Net investment income	115,000,000		110,000,000		217,000,000		218,000,000
Net realized and unrealized investment gains (losses)	166,000,000		-299,000,000		308,000,000		-276,000,000
Interest expense	-12,000,000		-12,000,000		-25,000,000		-24,000,000
Amortization of intangible assets	-7,000,000		-7,000,000		-14,000,000		-14,000,000
Net foreign exchange gains (losses)	2,000,000		-11,000,000		3,000,000		-9,000,000
Income tax (expense) benefit	-78,000,000		75,000,000		-141,000,000		33,000,000
Interest in earnings (losses) of equity method investments	$5,000,000		($4,000,000)		$11,000,000		$4,000,000

[1]	Loss ratio is obtained by dividing losses and loss expenses by net premiums earned.
[2]	Acquisition ratio is obtained by dividing acquisition costs by net premiums earned.
[3]	Technical ratio is defined as the sum of the loss ratio and the acquisition ratio.
[4]	Other operating expense ratio is obtained by dividing other operating expenses by net premiums earned.
[5]	Combined ratio is defined as the sum of the technical ratio and the other operating expense ratio.
[6]	Allocated underwriting result is defined as net premiums earned, other income or loss and allocated net investment income less life policy benefits, acquisition costs and other operating expenses.