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Taxation (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The following is a summary of the Company’s (loss) income before taxes allocated between domestic and foreign operations:

	Year ended December 31,	2017				2016				2015
	Domestic
	Bermuda	$	(262,827	)		$	652,758			$	511,114
	Foreign
	U.K.	(41,656		)		(24,278		)		(22,712		)
	Singapore	(12,421		)		2,180				(4,737		)
	U.S.	(11,897		)		(1,236		)		12,523
	Ireland	617				964				188
	(Loss) income before taxes	$	(328,184	)		$	630,388			$	496,376

Schedule of Components of Income Tax (Expense) Benefit

Income tax (expense) benefit is comprised as follows:

	Year ended December 31, 2017	Current				Deferred				Total
	Total income tax (expense) benefit	$	(844	)		$	(25,643	)		$	(26,487	)
	Year ended December 31, 2016
	Total income tax (expense) benefit	$	(2,090	)		$	1,750			$	(340	)
	Year ended December 31, 2015
	Total income tax (expense) benefit	$	(3,471	)		$	49,337			$	45,866

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the difference between the provision for income taxes and the expected tax provision at the weighted average tax rate is as follows:

	Year ended December 31,	2017				2016				2015
	Expected income tax benefit	$	14,216			$	4,856			$	1,011
	Tax exempt income	3,794				4,487				4,939
	Non-taxable foreign exchange gains (losses)	2,574				(1,126		)		(1,897		)
	Transaction costs	—				(131		)		3,654
	Withholding tax	(216		)		(2,578		)		(3,036		)
	Change in valuation allowance	(11,718		)		(924		)		43,808
	Effect of change in tax rate	(38,083		)		—				—
	Other	2,946				(4,924		)		(2,613		)
	Income tax (expense) benefit	$	(26,487	)		$	(340	)		$	45,866

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:

	At December 31,	2017				2016
	Deferred tax assets
	Tax loss and credit carryforwards	$	62,643			$	51,620
	Reserve for claims and claim expenses	13,992				26,265
	Deferred interest expense	11,320				18,408
	Unearned premiums	9,436				7,496
	Deferred underwriting results	3,407				—
	Investments	—				3,269
	Accrued expenses	2,641				9,386
		103,439				116,444
	Deferred tax liabilities
	Deferred acquisition expenses	(12,343		)		(7,485		)
	Amortization and depreciation	(3,340		)		(7,097		)
	Investments	(1,047		)		—
	Deferred underwriting results	—				(2,964		)
		(16,730		)		(17,546		)
	Net deferred tax asset before valuation allowance	86,709				98,898
	Valuation allowance	(30,016		)		(18,776		)
	Net deferred tax asset	$	56,693			$	80,122

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
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