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SEGMENT INFORMATION (Details) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2018 USD ($) reportable_segment | Mar. 31, 2017 USD ($)
Segment Information [Line Items] |  |
Number of reportable segments | reportable_segment | 2 |
Net premiums earned | $ 1,167,402 | $ 938,703
Other insurance related income (losses) | 6,606 | (3,783)
Net losses and loss expenses | (661,345) | (606,942)
Acquisition costs | (229,260) | (189,792)
Expenses | (169,837) | (161,260)
Net investment income | 100,999 | 98,664
Net investment losses | (14,830) | (25,050)
Foreign exchange losses | (37,860) | (21,465)
Interest expense and financing costs | (16,763) | (12,791)
Reorganization expenses | (13,054) | 0
Amortization of value of business acquired | (57,110) | 0
Amortization of intangibles | (2,782) | 0
Income before income taxes and interest in income (loss) of equity method investments | $ 72,166 | $ 16,284
Net loss and loss expense ratio | 56.70% | 64.70%
Acquisition cost ratio | 19.60% | 20.20%
General and administrative expense ratio | 14.50% | 17.20%
Combined ratio | 90.80% | 102.10%
Goodwill | $ 506,747 | $ 84,613
Operating Segments |  |
Segment Information [Line Items] |  |
Gross premiums written | 2,662,795 | 1,911,871
Net premiums written | 1,985,871 | 1,508,959
Net premiums earned | 1,167,402 | 938,703
Other insurance related income (losses) | 6,606 | (3,783)
Net losses and loss expenses | (661,345) | (606,942)
Acquisition costs | (229,260) | (189,792)
Expenses | (139,666) | (121,801)
Underwriting income | 143,737 | 16,385
Operating Segments | Insurance |  |
Segment Information [Line Items] |  |
Gross premiums written | 880,848 | 545,261
Net premiums written | 547,893 | 356,836
Net premiums earned | 580,059 | 391,964
Other insurance related income (losses) | 620 | 42
Net losses and loss expenses | (321,538) | (241,085)
Acquisition costs | (87,329) | (54,004)
Expenses | (102,370) | (85,256)
Underwriting income | $ 69,442 | $ 11,661
Net loss and loss expense ratio | 55.40% | 61.50%
Acquisition cost ratio | 15.10% | 13.80%
General and administrative expense ratio | 17.60% | 21.80%
Combined ratio | 88.10% | 97.00%
Goodwill | $ 506,747 | $ 84,613
Operating Segments | Reinsurance |  |
Segment Information [Line Items] |  |
Gross premiums written | 1,781,947 | 1,366,610
Net premiums written | 1,437,978 | 1,152,122
Net premiums earned | 587,343 | 546,739
Other insurance related income (losses) | 5,986 | (3,825)
Net losses and loss expenses | (339,807) | (365,857)
Acquisition costs | (141,931) | (135,788)
Expenses | (37,296) | (36,545)
Underwriting income | $ 74,295 | $ 4,724
Net loss and loss expense ratio | 57.90% | 66.90%
Acquisition cost ratio | 24.20% | 24.80%
General and administrative expense ratio | 6.30% | 6.70%
Combined ratio | 88.40% | 98.40%
Goodwill | $ 0 | $ 0
Corporate, Non-Segment |  |
Segment Information [Line Items] |  |
Expenses | (30,171) | (39,459)
Significant Reconciling Items |  |
Segment Information [Line Items] |  |
Net investment income | 100,999 | 98,664
Net investment losses | (14,830) | (25,050)
Foreign exchange losses | (37,860) | (21,465)
Interest expense and financing costs | (16,763) | (12,791)
Reorganization expenses | (13,054) | 0
Amortization of value of business acquired | (57,110) | 0
Amortization of intangibles | $ (2,782) | $ 0

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- Definition 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. + References No definition available. + Details
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- Definition The net gain or loss (both realized and unrealized) related to investments in certain entities that calculate net asset value per share and the amount after accretion (amortization) of discount (premium) of interest income and dividend income on nonoperating securities, net of investment expense. + References No definition available. + Details
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- Definition Net premiums earned less: net losses and loss expenses, acquisition costs and general and administrative expenses directly related to underwriting activities. + References No definition available. + Details
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- Definition The adjustment that represents the periodic charge against earnings to reduce the value of business acquired (VOBA) over the expected life of the underlying insurance contracts. VOBA reflects the estimated fair value of a life insurance business in force and represents the portion of the cost to acquire the business that is allocated to the value of the right to receive future cash flows from insurance contracts existing at the date of acquisition. Such value is the present value of the actuarially determined projected cash flows for the acquired policies. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section S99 -Paragraph 2 -Subparagraph (2) -URI http://asc.fasb.org/extlink&oid=27015749&loc=d3e569990-122904 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=98514028&loc=d3e3602-108585 + Details
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- Definition Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450222&loc=d3e30840-110895 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 20 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64836518&loc=d3e30700-110894 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64836518&loc=d3e30690-110894 + Details
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- Definition Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.5) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6480758&loc=d3e6811-158387 + Details
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