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SEGMENT INFORMATION (Tables)
 9 Months Ended
Sep. 30, 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 September 30,
Insurance
 
Reinsurance
 
Total
 
Insurance
 
Reinsurance
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross premiums written
$
969,364

 
$
454,343

 
$
1,423,707

 
$
651,145

 
$
534,429

 
$
1,185,574

 
 
Net premiums written
602,070

 
317,868

 
919,938

 
407,054

 
425,689

 
832,743

 
 
Net premiums earned
614,795

 
609,280

 
1,224,075

 
420,775

 
596,356

 
1,017,131

 
 
Other insurance related income (losses)
1,526

 
6,949

 
8,475

 
302

 
(3,499
)
 
(3,197
)
 
 
Net losses and loss expenses
(415,488
)
 
(379,471
)
 
(794,959
)
 
(576,688
)
 
(658,679
)
 
(1,235,367
)
 
 
Acquisition costs
(111,888
)
 
(136,426
)
 
(248,314
)
 
(61,541
)
 
(133,183
)
 
(194,724
)
 
 
General and administrative expenses
(100,656
)
 
(29,595
)
 
(130,251
)
 
(71,007
)
 
(25,689
)
 
(96,696
)
 
 
Underwriting income (loss)
$
(11,711
)
 
$
70,737

 
59,026

 
$
(288,159
)
 
$
(224,694
)
 
(512,853
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate expenses
 
 
 
 
(24,643
)
 
 
 
 
 
(27,933
)
 
 
Net investment income
 
 
 
 
114,421

 
 
 
 
 
95,169

 
 
Net investment gains (losses)
 
 
 
 
(17,628
)
 
 
 
 
 
14,632

 
 
Foreign exchange losses
 
 
 
 
(8,305
)
 
 
 
 
 
(32,510
)
 
 
Interest expense and financing costs
 
 
 
 
(16,897
)
 
 
 
 
 
(12,835
)
 
 
Transaction and reorganization expenses
 
 
 
 
(16,300
)
 
 
 
 
 
(5,970
)
 
 
Amortization of value of business acquired
 
 
 
 
(39,018
)
 
 
 
 
 
—

 
 
Amortization of intangible assets
 
 
 
 
(1,753
)
 
 
 
 
 
—

 
 
Income (loss) before income taxes and interest in income (loss) of equity method investments
 
 
 
 
$
48,903

 
 
 
 
 
$
(482,300
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss and loss expense ratio
67.6
%
 
62.3
%
 
64.9
%
 
137.1
%
 
110.5
%
 
121.5
%
 
 
Acquisition cost ratio
18.2
%
 
22.4
%
 
20.3
%
 
14.6
%
 
22.3
%
 
19.1
%
 
 
General and administrative expense ratio
16.4
%
 
4.8
%
 
12.7
%
 
16.9
%
 
4.3
%
 
12.3
%
 
 
Combined ratio
102.2
%
 
89.5
%
 
97.9
%
 
168.6
%
 
137.1
%
 
152.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total intangible assets
$
408,441

 
$
—

 
$
408,441

 
$
87,206

 
$
—

 
$
87,206

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
  
2018
 
2017
 
 
Nine months ended and at September 30,
Insurance
 
Reinsurance
 
Total
 
Insurance
 
Reinsurance
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross premiums written
$
2,876,856

 
$
2,860,471

 
$
5,737,327

 
$
1,960,608

 
$
2,499,164

 
$
4,459,772

 
 
Net premiums written
1,748,142

 
2,158,122

 
3,906,264

 
1,259,999

 
2,037,719

 
3,297,718

 
 
Net premiums earned
1,772,126

 
1,804,900

 
3,577,026

 
1,230,279

 
1,706,986

 
2,937,265

 
 
Other insurance related income (losses)
3,359

 
15,452

 
18,811

 
853

 
(5,273
)
 
(4,420
)
 
 
Net losses and loss expenses
(1,065,799
)
 
(1,097,146
)
 
(2,162,945
)
 
(1,093,237
)
 
(1,354,403
)
 
(2,447,640
)
 
 
Acquisition costs
(290,082
)
 
(419,445
)
 
(709,527
)
 
(177,937
)
 
(410,942
)
 
(588,879
)
 
 
General and administrative expenses
(305,394
)
 
(99,481
)
 
(404,875
)
 
(239,389
)
 
(96,393
)
 
(335,782
)
 
 
Underwriting income (loss)
$
114,210

 
$
204,280

 
318,490

 
$
(279,431
)
 
$
(160,025
)
 
(439,456
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate expenses
 
 
 
 
(85,069
)
 
 
 
 
 
(97,922
)
 
 
Net investment income
 
 
 
 
325,380

 
 
 
 
 
299,899

 
 
Net realized investment losses
 
 
 
 
(77,551
)
 
 
 
 
 
(14,811
)
 
 
Foreign exchange losses
 
 
 
 
(2,066
)
 
 
 
 
 
(90,093
)
 
 
Interest expense and financing costs
 
 
 
 
(50,758
)
 
 
 
 
 
(38,377
)
 
 
Bargain purchase gain
 
 
 
 
—

 
 
 
 
 
15,044

 
 
Transaction and reorganization expenses
 
 
 
 
(48,125
)
 
 
 
 
 
(5,970
)
 
 
Amortization of value of business acquired
 
 
 
 
(149,535
)
 
 
 
 
 
—

 
 
Amortization of intangible assets
 
 
 
 
(8,564
)
 
 
 
 
 
—

 
 
Income (loss) before income taxes and interest in income (loss) of equity method investments
 
 
 
 
$
222,202

 
 
 
 
 
$
(371,686
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss and loss expense ratio
60.1
%
 
60.8
%
 
60.5
%
 
88.9
%
 
79.3
%
 
83.3
%
 
 
Acquisition cost ratio
16.4
%
 
23.2
%
 
19.8
%
 
14.4
%
 
24.2
%
 
20.0
%
 
 
General and administrative expense ratio
17.2
%
 
5.5
%
 
13.7
%
 
19.5
%
 
5.6
%
 
14.8
%
 
 
Combined ratio
93.7
%
 
89.5
%
 
94.0
%
 
122.8
%
 
109.1
%
 
118.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total intangible assets
$
408,441

 
$
—

 
$
408,441

 
$
87,206

 
$
—

 
$
87,206