ALLEGHANY CORP /DE

2012 Q1 Form 10-Q Financial Statement

#000119312512215471 Filed on May 07, 2012

View on sec.gov

Income Statement

Concept 2012 Q1 2011 Q1

Balance Sheet

Concept 2012 Q1 2011 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments $17.08B
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $41.00M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $22.30M $20.00M
YoY Change 11.52% 0.0%
Goodwill $48.10M
YoY Change
Intangibles $382.5M
YoY Change
Long-Term Investments $17.51B $4.881B
YoY Change 258.82% 12.0%
Other Assets $486.0M $18.00M
YoY Change 2600.0% -84.21%
Total Long-Term Assets $21.73B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $41.00M
Total Long-Term Assets $21.73B
Total Assets $21.78B $6.530B
YoY Change 233.46% 5.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.000M
YoY Change -75.0%
LONG-TERM LIABILITIES
Long-Term Debt $1.424B $299.0M
YoY Change 376.25%
Other Long-Term Liabilities $516.0M $339.0M
YoY Change 52.21% 3.35%
Total Long-Term Liabilities $1.940B $638.0M
YoY Change 204.08% 94.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.000M
Total Long-Term Liabilities $1.940B $638.0M
Total Liabilities $15.59B $3.478B
YoY Change 348.31% 1.93%
SHAREHOLDERS EQUITY
Retained Earnings $2.550B
YoY Change
Common Stock $3.644B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $162.6M
YoY Change
Treasury Stock Shares 550.1K shares
Shareholders Equity $6.183B $3.052B
YoY Change
Total Liabilities & Shareholders Equity $21.78B $6.530B
YoY Change 233.46% 5.56%

Cashflow Statement

Concept 2012 Q1 2011 Q1

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2011Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid
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101700000
CY2011Q1 us-gaap Revenues
Revenues
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CY2011Q1 us-gaap Ceded Premiums Earned Property And Casualty
CededPremiumsEarnedPropertyAndCasualty
89900000
CY2011Q1 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTax
0
CY2011Q1 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
1800000
CY2011Q1 us-gaap Net Cash Provided By Used In Operating Activities
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-103540000
CY2011Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
147923000
CY2011Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
58647000
CY2011Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
89509000
CY2011Q1 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
6200000
CY2011Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
6775000
CY2011Q1 us-gaap Ceded Premiums Written Property And Casualty
CededPremiumsWrittenPropertyAndCasualty
83600000
CY2011Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.97
CY2011Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
9407000
CY2011Q1 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
34700000
CY2011Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
260000
CY2011Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
103979000
CY2011Q1 us-gaap Payments For Proceeds From Other Investing Activities
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CY2011Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims
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CY2011Q1 us-gaap Interest Expense
InterestExpense
4452000
CY2011Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years
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95000000
CY2011Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Prior Years
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-19100000
CY2011Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
17800000
CY2011Q1 us-gaap Other Comprehensive Income Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
22550000
CY2011Q1 us-gaap Premiums Written Net
PremiumsWrittenNet
166600000
CY2011Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
71200000
CY2011Q1 us-gaap Net Income Loss
NetIncomeLoss
71340000
CY2011Q1 us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
-8371000
CY2011Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
317351000
CY2011Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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45579 shares
CY2011Q1 us-gaap Premiums Earned Net Property And Casualty
PremiumsEarnedNetPropertyAndCasualty
181000000
CY2011Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Current Year
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsCurrentYear
90100000
CY2011Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
400000000
CY2011Q1 us-gaap Net Investment Income
NetInvestmentIncome
31579000
CY2011Q1 us-gaap Premiums Earned Net
PremiumsEarnedNet
180980000
CY2011Q1 us-gaap Investment Income Dividend
InvestmentIncomeDividend
9800000
CY2011Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2584000
CY2011Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.99
CY2011Q1 us-gaap Reinsurance Costs And Recoveries Net
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23600000
CY2011Q1 us-gaap Other Comprehensive Income Reclassification Adjustment For Sale Of Securities Included In Net Income Tax
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12142000
CY2011Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
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-174880000
CY2011Q1 us-gaap Amortization Of Intangible Assets
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839000
CY2011Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year
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6700000
CY2011Q1 us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
239992000
CY2011Q1 us-gaap Availableforsale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments
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34692000
CY2011Q1 us-gaap Direct Premiums Written Property And Casualty
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240800000
CY2011Q1 us-gaap Incurred Claims Property Casualty And Liability
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71022000
CY2011Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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53449000
CY2011Q1 us-gaap Dilutive Securities
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-100000
CY2011Q1 us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
-14126000
CY2011Q1 us-gaap Increase Decrease In Other Operating Capital Net
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112469000
CY2011Q1 us-gaap Direct Premiums Earned Property And Casualty
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263500000
CY2011Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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99262000
CY2011Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.203 pure
CY2011Q1 us-gaap Expense Related To Distribution Or Servicing And Underwriting Fees
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66528000
CY2011Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18169000
CY2011Q1 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
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-1878000
CY2011Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-11860000
CY2011Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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8928807 shares
CY2011Q1 us-gaap Premiums Written Net Property And Casualty
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166600000
CY2011Q1 us-gaap Other Income
OtherIncome
885000
CY2011Q1 us-gaap Interest Paid
InterestPaid
8203000
CY2011Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
400000
CY2011Q1 us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
16176000
CY2011Q1 us-gaap Assumed Premiums Earned Property And Casualty
AssumedPremiumsEarnedPropertyAndCasualty
7400000
CY2011Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6379000
CY2011Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8935968 shares
CY2011Q1 us-gaap Increase Decrease In Loss And Loss Adjustment Expense Reserve
IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve
20822000
CY2011Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6000000
CY2011Q1 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
158627000
CY2011Q1 us-gaap Assumed Premiums Written Property And Casualty
AssumedPremiumsWrittenPropertyAndCasualty
9400000
CY2011Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
7161 shares
CY2011Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
159126000
CY2011Q1 y Effect Of Exchange Rate Changes On Unpaid Policy Claims Liability
EffectOfExchangeRateChangesOnUnpaidPolicyClaimsLiability
CY2011Q1 y Premiums Written Gross
PremiumsWrittenGross
250200000
CY2011Q1 y Underwriting Income Loss Before Tax
UnderwritingIncomeLossBeforeTax
43400000
CY2011Q1 y Other Investment Income Loss
OtherInvestmentIncomeLoss
-400000
CY2012Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2012Q1 dei Trading Symbol
TradingSymbol
Y
CY2012Q1 dei Entity Registrant Name
EntityRegistrantName
ALLEGHANY CORP /DE
CY2012Q1 dei Amendment Flag
AmendmentFlag
false
CY2012Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012Q1 dei Document Type
DocumentType
10-Q
CY2012Q1 dei Document Period End Date
DocumentPeriodEndDate
2012-03-31
CY2012Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000775368
CY2012Q1 dei Current Fiscal Year End Date
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--12-31
CY2012Q1 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
72900000
CY2012Q1 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-625330000
CY2012Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1126000
CY2012Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
122100000
CY2012Q1 us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
-760000
CY2012Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
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700000
CY2012Q1 us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
-4862000
CY2012Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
470636000
CY2012Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
41100000
CY2012Q1 us-gaap Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Nature
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Management’s assessment of equity securities initially involves an evaluation of all securities that are in an unrealized loss position, regardless of the duration or severity of the loss, as of the applicable balance sheet date. Such initial review consists primarily of assessing whether: (i) there has been a negative credit or news event with respect to the issuer that could indicate the existence of an OTTI; and (ii) Alleghany has the ability and intent to hold an equity security for a period of time sufficient to allow for an anticipated recovery (generally considered to be less than one year from the balance sheet date). To the extent that an equity security in an unrealized loss position is not impaired based on the initial review described above, Alleghany then further evaluates such equity security and deems it to be other-than-temporarily impaired if it has been in an unrealized loss position for twelve months or more or if its unrealized loss position is greater than 50 percent of its cost, absent compelling evidence to the contrary. Alleghany then evaluates those equity securities where the unrealized loss is 20 percent or more of cost as of the balance sheet date or which have been in an unrealized loss position continuously for six months or more preceding the balance sheet date. This evaluation takes into account quantitative and qualitative factors in determining whether such securities are other-than-temporarily impaired including: (i) market valuation metrics associated with the equity security (e.g., dividend yield and price-to-earnings ratio); (ii) current views on the equity security, as expressed by either Alleghany’s internal stock analysts and/or by third-party stock analysts or rating agencies; (iii) and discrete credit or news events associated with a specific company, such as negative news releases and rating agency downgrades with respect to the issuer of the investment.
CY2012Q1 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
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1778000
CY2012Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income
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200000
CY2012Q1 us-gaap Payments To Acquire Other Productive Assets
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CY2012Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid
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257300000
CY2012Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
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3213000
CY2012Q1 us-gaap Revenues
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1048867000
CY2012Q1 us-gaap Ceded Premiums Earned Property And Casualty
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101300000
CY2012Q1 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax
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1730000
CY2012Q1 us-gaap Investment Income Investment Expense
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2800000
CY2012Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-35165000
CY2012Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
556931000
CY2012Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
182663000
CY2012Q1 us-gaap Concentration Risk Credit Risk Financial Instrument Maximum Exposure
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232200000
CY2012Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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611100000
CY2012Q1 us-gaap Available For Sale Securities Gross Realized Losses
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4900000
CY2012Q1 us-gaap Depreciation Amortization And Accretion Net
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45146000
CY2012Q1 us-gaap Ceded Premiums Written Property And Casualty
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100400000
CY2012Q1 us-gaap Earnings Per Share Diluted
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51.06
CY2012Q1 us-gaap Other Cost And Expense Operating
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15652000
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800000
CY2012Q1 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
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68000000
CY2012Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Issues
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17017000
CY2012Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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192637000
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4195000
CY2012Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims
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233900000
CY2012Q1 us-gaap Interest Expense
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9077000
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3 Year
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98700000
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CY2012Q1 us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
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<div> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Activity in liability for loss and LAE in the first three months of 2012 and 2011 is summarized as follows (in millions):</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"> <tr> <td width="77%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: Times New Roman" size="1">Three Months Ended</font><br /> <font style="FONT-FAMILY: Times New Roman" size="1">March&#xA0;31,</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1">2012</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1">2011</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Reserves as of January&#xA0;1</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,313.0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,328.7</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Less: reinsurance recoverables</font><font style="FONT-FAMILY: Times New Roman" size="1"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">831.8</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">847.4</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Net reserves</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,481.2</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,481.3</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; 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MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Paid loss, net of reinsurance, related to:</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Current year</font><font style="FONT-FAMILY: Times New Roman" size="1"><sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(3)</sup></font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">158.6</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">6.7</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Prior years</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">98.7</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">95.0</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; 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MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Reserves, net of reinsurance recoverables, as of March&#xA0;31</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">10,613.9</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,450.6</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Reinsurance recoverables as of March 31</font><font style="FONT-FAMILY: Times New Roman" size="1"><sup style="POSITION: relative; 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MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Reserves, gross of reinsurance recoverables, as of March&#xA0;31</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">11,870.3</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,290.2</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> <p style="BORDER-BOTTOM: #000000 0.5pt solid; 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DeferredIncomeTaxExpenseBenefit
2700000
CY2012Q1 us-gaap Other Comprehensive Income Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
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43037000
CY2012Q1 us-gaap Premiums Written Net
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434207000
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CY2012Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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560300000
CY2012Q1 us-gaap Net Income Loss
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560103000
CY2012Q1 us-gaap Increase Decrease In Reinsurance Recoverable
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-10378000
CY2012Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
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465542000
CY2012Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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37899 shares
CY2012Q1 us-gaap Premiums Earned Net Property And Casualty
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434200000
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249300000
CY2012Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
700000000
CY2012Q1 us-gaap Net Investment Income
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53194000
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434207000
CY2012Q1 us-gaap Investment Income Dividend
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1900000
CY2012Q1 us-gaap Payments To Acquire Property Plant And Equipment
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1127000
CY2012Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
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1300000
CY2012Q1 us-gaap Earnings Per Share Basic
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51.17
CY2012Q1 us-gaap Reinsurance Costs And Recoveries Net
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38000000
CY2012Q1 us-gaap Other Comprehensive Income Reclassification Adjustment For Sale Of Securities Included In Net Income Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeTax
23174000
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AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-595268000
CY2012Q1 us-gaap Amortization Of Intangible Assets
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31939000
CY2012Q1 us-gaap Property Plant And Equipment Useful Life Maximum
PropertyPlantAndEquipmentUsefulLifeMaximum
20 Year
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158600000
CY2012Q1 us-gaap Payments To Acquire Available For Sale Securities Equity
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113044000
CY2012Q1 us-gaap Availableforsale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments
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67989000
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269400000
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233946000
CY2012Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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20145000
CY2012Q1 us-gaap Dilutive Securities
DilutiveSecurities
200000
CY2012Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
CY2012Q1 us-gaap Increase Decrease In Unearned Premiums
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-1375000
CY2012Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-11453000
CY2012Q1 us-gaap Direct Premiums Earned Property And Casualty
DirectPremiumsEarnedPropertyAndCasualty
273300000
CY2012Q1 us-gaap Expense Related To Distribution Or Servicing And Underwriting Fees
ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
99860000
CY2012Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
50997000
CY2012Q1 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
46540000
CY2012Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
435467000
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10945269 shares
CY2012Q1 us-gaap Premiums Written Net Property And Casualty
PremiumsWrittenNetPropertyAndCasualty
434200000
CY2012Q1 us-gaap Other Income
OtherIncome
315000
CY2012Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
1122000
CY2012Q1 us-gaap Interest Paid
InterestPaid
8438000
CY2012Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
48200000
CY2012Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
37412000
CY2012Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.083 pure
CY2012Q1 us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
32711000
CY2012Q1 us-gaap Assumed Premiums Earned Property And Casualty
AssumedPremiumsEarnedPropertyAndCasualty
262200000
CY2012Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
47293000
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10973429 shares
CY2012Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
433310000
CY2012Q1 us-gaap Increase Decrease In Loss And Loss Adjustment Expense Reserve
IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve
452000
CY2012Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1126000
CY2012Q1 us-gaap Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
494940000
CY2012Q1 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
437767000
CY2012Q1 us-gaap Assumed Premiums Written Property And Casualty
AssumedPremiumsWrittenPropertyAndCasualty
265200000
CY2012Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
28160 shares
CY2012Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
443860000
CY2012Q1 y Effect Of Exchange Rate Changes On Unpaid Policy Claims Liability
EffectOfExchangeRateChangesOnUnpaidPolicyClaimsLiability
CY2012Q1 y Premiums Written Gross
PremiumsWrittenGross
533400000
CY2012Q1 y Underwriting Income Loss Before Tax
UnderwritingIncomeLossBeforeTax
100400000
CY2012Q1 y Description Of Reinsurance Program
DescriptionOfReinsuranceProgram
The new reinsurance program provides coverage in two layers for $400.0 million of losses in excess of a $100.0 million net retention after application of the surplus share treaties, facultative reinsurance and per risk covers. The first layer provides coverage for $100.0 million of losses, before a 60.0 percent co-participation by RSUI (compared with 47.0 percent co-participation under the expired program), in excess of the $100.0 million net retention, and the second layer provides coverage for $300.0 million of losses, before a 5.0 percent co-participation by RSUI (the same percent co-participation under the expired program), in excess of $200.0 million. In addition, RSUI’s property per risk reinsurance program for the 2012-2013 period provides RSUI with coverage for $90.0 million of losses, before a 10.0 percent co-participation by RSUI, in excess of a $10.0 million net retention per risk after application of the surplus share treaties and facultative reinsurance.
CY2012Q1 y Lease Expiration Year
LeaseExpirationYear
2022
CY2012Q1 y Percentage Reduction For Effective Income Tax Rate
PercentageReductionForEffectiveIncomeTaxRate
0.108 pure
CY2012Q1 y Other Investment Income Loss
OtherInvestmentIncomeLoss
200000
CY2012Q1 y Foreign Currency Translation Gain Loss Unrealized
ForeignCurrencyTranslationGainLossUnrealized
24878000
CY2012Q1 y Net Gains From Sale Of Equity Securities
NetGainsFromSaleOfEquitySecurities
63100000
CY2012Q1 y Loss Reserves Net Of Reinsurance Recoverables Acquired In Business Combination
LossReservesNetOfReinsuranceRecoverablesAcquiredInBusinessCombination
9156100000
CY2010Q3 y Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2013-09-09
CY2010Q3 y Line Of Credit Facility Initiation Date One
LineOfCreditFacilityInitiationDateOne
2010-09-09

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