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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Revenues    
Net premiums earned $ 902,340 $ 904,053
Net investment income 49,164 92,107
Other insurance related income (losses) (203) 7,676
Net realized investment losses:    
Other-than-temporary impairment (OTTI) losses (9,729) (17,568)
Other realized investment losses (56,779) (24,985)
Total net realized investment losses (66,508) (42,553)
Total revenues 884,793 961,283
Expenses    
Net losses and loss expenses 498,962 512,328
Acquisition costs 180,635 171,542
General and administrative expenses 149,901 163,241
Foreign exchange losses (gains) 616 (63,220)
Interest expense and financing costs 12,833 12,257
Total expenses 842,947 796,148
Income before income taxes 41,846 165,135
Income tax benefit (6,540) (690)
Net income 48,386 165,825
Preferred share dividends 9,969 10,022
Net income available to common shareholders $ 38,417 $ 155,803
Net income per common share:    
Basic net income $ 0.41 $ 1.56
Diluted net income $ 0.41 $ 1.54
Weighted average number of common shares outstanding - basic 94,035 99,910
Weighted average number of common shares outstanding - diluted 94,853 101,139
Cash dividends declared per common share $ 0.35 $ 0.29