CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended
Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues
Net premiums earned	$ 934,415	$ 919,341	$ 2,783,746	$ 2,764,605
Net investment income	116,923	45,685	257,818	226,336
Other insurance related income	5,944	1,158	4,850	12,319
Termination fee received	0	280,000	0	280,000
Net realized investment gains (losses):
Other-than-temporary impairment (OTTI) losses	(4,247)	(32,301)	(20,346)	(62,762)
Other realized investment gains (losses)	9,452	(37,656)	(19,949)	(60,856)
Total net realized investment gains (losses)	5,205	(69,957)	(40,295)	(123,618)
Total revenues	1,062,487	1,176,227	3,006,119	3,159,642
Expenses
Net losses and loss expenses	532,328	560,387	1,663,584	1,652,868
Acquisition costs	189,810	182,744	559,570	537,549
General and administrative expenses	142,906	144,727	439,554	456,451
Foreign exchange gains	(13,795)	(28,088)	(69,781)	(69,200)
Interest expense and financing costs	12,839	12,918	38,586	38,114
Reorganization and related expenses	0	45,867	0	45,867
Total expenses	864,088	918,555	2,631,513	2,661,649
Income before income taxes and interest in income (loss) of equity method investments	198,399	257,672	374,606	497,993
Income tax expense	9,352	30	7,712	1,155
Interest in loss of equity method investments	(2,434)	0	(2,434)	0
Net income	186,613	257,642	364,460	496,838
Preferred share dividends	9,969	10,022	29,906	30,066
Net income available to common shareholders	$ 176,644	$ 247,620	$ 334,554	$ 466,772
Net income per common share:
Basic net income (in usd per share)	$ 1.97	$ 2.52	$ 3.64	$ 4.69
Diluted net income (in usd per share)	$ 1.96	$ 2.50	$ 3.61	$ 4.65
Weighted average number of common shares outstanding - basic (in shares)	89,621	98,226	91,852	99,464
Weighted average number of common shares outstanding - diluted (in shares)	90,351	99,124	92,579	100,468
Cash dividends declared per common share (in usd per share)	$ 0.35	$ 0.29	$ 1.05	$ 0.87

This item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Additionally, this item would include any losses recognized for other than temporary impairments (OTTI) of the subject investments in debt and equity securities, the change in fair value of investment-related derivatives not designated as hedges and any hedge ineffectiveness recognized in earnings in relation to investment portfolio-related fair value hedges.

No definition available.