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SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
UNDERWRITING RESULTS OF REPORTABLE SEGMENTS
The following tables present the underwriting results of the Company's reportable segments, as well as the carrying values of allocated goodwill and intangible assets:
 
  
2018
 
2017
 
 
Three months ended and at March 31,
Insurance
 
Reinsurance
 
Total
 
Insurance
 
Reinsurance
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross premiums written
$
880,848

 
$
1,781,947

 
$
2,662,795

 
$
545,261

 
$
1,366,610

 
$
1,911,871

 
 
Net premiums written
547,893

 
1,437,978

 
1,985,871

 
356,836

 
1,152,122

 
1,508,959

 
 
Net premiums earned
580,059

 
587,343

 
1,167,402

 
391,964

 
546,739

 
938,703

 
 
Other insurance related income (losses)
620

 
5,986

 
6,606

 
42

 
(3,825
)
 
(3,783
)
 
 
Net losses and loss expenses
(321,538
)
 
(339,807
)
 
(661,345
)
 
(241,085
)
 
(365,857
)
 
(606,942
)
 
 
Acquisition costs
(87,329
)
 
(141,931
)
 
(229,260
)
 
(54,004
)
 
(135,788
)
 
(189,792
)
 
 
General and administrative expenses
(102,370
)
 
(37,296
)
 
(139,666
)
 
(85,256
)
 
(36,545
)
 
(121,801
)
 
 
Underwriting income
$
69,442

 
$
74,295

 
143,737

 
$
11,661

 
$
4,724

 
16,385

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate expenses
 
 
 
 
(30,171
)
 
 
 
 
 
(39,459
)
 
 
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
)
 
 
 
 
 
—

 
 
Amortization of value of business acquired
 
 
 
 
(57,110
)
 
 
 
 
 
—

 
 
Amortization of intangibles
 
 
 
 
(2,782
)
 
 
 
 
 
—

 
 
Income before income taxes and interest in income (loss) of equity method investments
 
 
 
 
$
72,166

 
 
 
 
 
$
16,284

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss and loss expense ratio
55.4
%
 
57.9
%
 
56.7
%
 
61.5
%
 
66.9
%
 
64.7
%
 
 
Acquisition cost ratio
15.1
%
 
24.2
%
 
19.6
%
 
13.8
%
 
24.8
%
 
20.2
%
 
 
General and administrative expense ratio
17.6
%
 
6.3
%
 
14.5
%
 
21.8
%
 
6.7
%
 
17.2
%
 
 
Combined ratio
88.1
%
 
88.4
%
 
90.8
%
 
97.0
%
 
98.4
%
 
102.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill and intangible assets
$
506,747

 
$
—

 
$
506,747

 
$
84,613

 
$
—

 
$
84,613