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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Net premiums earned $ 4,587,178 $ 4,791,495 $ 4,148,760
Net investment income 478,572 438,507 400,805
Other insurance related income (losses) 16,444 10,622 (1,240)
Bargain purchase gain 0 0 15,044
Net investment gains (losses):      
Other-than-temporary impairment (OTTI) losses (6,984) (9,733) (14,493)
Other realized and unrealized investment gains (losses) 98,217 (140,485) 42,719
Total net investment gains (losses) 91,233 (150,218) 28,226
Total revenues 5,173,427 5,090,406 4,591,595
Expenses      
Net losses and loss expenses 3,044,798 3,190,287 3,287,772
Acquisition costs 1,024,582 968,835 823,591
General and administrative expenses 634,831 627,389 579,428
Foreign exchange losses (gains) (12,041) (29,165) 134,737
Interest expense and financing costs 68,107 67,432 54,811
Transaction and reorganization expenses 37,384 66,940 26,718
Amortization of value of business acquired 26,722 172,332 50,104
Amortization of intangible assets 11,597 13,814 2,543
Total expenses 4,835,980 5,077,864 4,959,704
Income (loss) before income taxes and interest in income (loss) of equity method investments 337,447 12,542 (368,109)
Income tax (expense) benefit (23,692) 29,486 7,542
Interest in income (loss) of equity method investments 9,718 993 (8,402)
Net income (loss) 323,473 43,021 (368,969)
Preferred share dividends 41,112 42,625 46,810
Net income (loss) available (attributable) to common shareholders $ 282,361 $ 396 $ (415,779)
Earnings (loss) per common share:      
Earnings (loss) per common share (in dollars per share) $ 3.37 $ 0 $ (4.94)
Earnings (loss) per diluted common share (in dollars per share) $ 3.34 $ 0 $ (4.94)
Weighted average common shares outstanding (in shares) 83,894 83,501 84,108
Weighted average diluted common shares outstanding (in shares) 84,473 84,007 84,108