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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues    
Net premiums earned $ 1,103,722 $ 1,088,625
Net investment income 114,165 93,101
Other insurance related income (loss) 2,781 (8,707)
Net investment gains (losses):    
Allowance for expected credit losses 89 (20,019)
Impairment losses 0 (1,190)
Other realized and unrealized investment gains (losses) 29,556 (41,668)
Total net investment gains (losses) 29,645 (62,877)
Total revenues 1,250,313 1,110,142
Expenses    
Net losses and loss expenses 714,718 908,073
Acquisition costs 218,871 238,650
General and administrative expenses 158,408 157,060
Foreign exchange losses (gains) 4,113 (61,683)
Interest expense and financing costs 15,571 23,472
Reorganization expenses 0 (982)
Amortization of value of business acquired 1,028 1,799
Amortization of intangible assets 2,690 2,870
Total expenses 1,115,399 1,269,259
Income (loss) before income taxes and interest in income (loss) of equity method investments 134,914 (159,117)
Income tax (expense) benefit (20,776) 4,867
Interest in income (loss) of equity method investments 9,162 (23,577)
Net income (loss) 123,300 (177,827)
Preferred share dividends 7,563 7,563
Net income (loss) available (attributable) to common shareholders $ 115,737 $ (185,390)
Earnings (loss) per common share:    
Earnings (loss) per common share (in usd per share) $ 1.37 $ (2.20)
Earnings (loss) per diluted common share (in usd per share) $ 1.36 $ (2.20)
Weighted average common shares outstanding (in shares) 84,514 84,094
Weighted average diluted common shares outstanding (in shares) 84,965 84,094