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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2021

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 amounts of allocated goodwill and intangible assets:

						2021																		2020
			Three months ended and at September 30,			Insurance						Reinsurance						Total						Insurance						Reinsurance						Total
			Gross premiums written			$	1,176,500					$	469,989					$	1,646,489					$	935,817					$	395,361					$	1,331,178
			Net premiums written			707,492						288,979						996,471						544,857						271,125						815,982
			Net premiums earned			681,008						530,419						1,211,427						570,184						521,128						1,091,312
			Other insurance related income			468						7,197						7,665						688						752						1,440
			Net losses and loss expenses			(442,681)						(468,688)						(911,369)						(443,389)						(436,288)						(879,677)
			Acquisition costs			(123,529)						(108,183)						(231,712)						(114,569)						(115,995)						(230,564)
			Underwriting-related general and administrative expenses			(104,905)						(29,921)						(134,826)						(94,379)						(23,456)						(117,835)
			Underwriting income (loss)			$	10,361					$	(69,176)					(58,815)						$	(81,465)					$	(53,859)					(135,324)
			Net investment income															107,339																		101,956
			Net investment gains															10,932																		55,609
			Corporate expenses															(23,134)																		(20,988)
			Foreign exchange (losses) gains															28,032																		(60,734)
			Interest expense and financing costs															(15,954)																		(15,574)
			Reorganization expenses															—																		(1,413)
			Amortization of value of business acquired															(1,028)																		(1,028)
			Amortization of intangible assets															(3,149)																		(2,838)
			Income (loss) before income taxes and interest in income of equity method investments															44,223																		(80,334)
			Income tax (expense) benefit															(1,186)																		12,056
			Interest in income of equity method investments															11,911																		2,896
			Net income (loss)															54,948																		(65,382)
			Preferred share dividends															7,563																		7,563
			Net income (loss) available (attributable) to common shareholders															$	47,385																	$	(72,945)
			Net losses and loss expenses ratio			65.0		%				88.4		%				75.2		%				77.8		%				83.7		%				80.6		%
			Acquisition cost ratio			18.1		%				20.4		%				19.1		%				20.1		%				22.3		%				21.1		%
			General and administrative expense ratio			15.4		%				5.6		%				13.1		%				16.5		%				4.5		%				12.8		%
			Combined ratio			98.5		%				114.4		%				107.4		%				114.4		%				110.5		%				114.5		%
			Goodwill and intangible assets			$	312,358					$	—					$	312,358					$	324,365					$	—					$	324,365

						2021																		2020
			Nine months ended and at September 30,			Insurance						Reinsurance						Total						Insurance						Reinsurance						Total
			Gross premiums written			$	3,548,169					$	2,574,987					$	6,123,156					$	2,914,100					$	2,564,419					$	5,478,519
			Net premiums written			2,128,190						1,851,025						3,979,215						1,729,268						1,821,692						3,550,960
			Net premiums earned			1,928,970						1,543,120						3,472,090						1,709,268						1,574,673						3,283,941
			Other insurance related income (loss)			1,435						14,827						16,262						2,091						(7,361)						(5,270)
			Net losses and loss expenses			(1,131,753)						(1,160,806)						(2,292,559)						(1,252,569)						(1,211,443)						(2,464,012)
			Acquisition costs			(348,172)						(321,482)						(669,654)						(343,579)						(354,137)						(697,716)
			Underwriting-related general and administrative expenses			(307,777)						(88,678)						(396,455)						(284,909)						(76,714)						(361,623)
			Underwriting income (loss)			$	142,703					$	(13,019)					129,684						$	(169,698)					$	(74,982)					(244,680)
			Net investment income															326,174																		240,098
			Net investment gains															113,868																		45,777
			Corporate expenses															(82,365)																		(74,915)
			Foreign exchange (losses) gains															4,316																		(8,760)
			Interest expense and financing costs															(46,759)																		(59,641)
			Reorganization expenses															—																		(822)
			Amortization of value of business acquired															(3,083)																		(4,111)
			Amortization of intangible assets															(9,163)																		(8,564)
			Income (loss) before income taxes and interest in income (loss) of equity method investments															432,672																		(115,618)
			Income tax (expense) benefit															(49,827)																		6,030
			Interest in income (loss) of equity method investments															30,871																		(13,579)
			Net income (loss)															413,716																		(123,167)
			Preferred share dividends															22,688																		22,688
			Net income (loss) available (attributable) to common shareholders															$	391,028																	$	(145,855)
			Net losses and loss expenses ratio			58.7		%				75.2		%				66.0		%				73.3		%				76.9		%				75.0		%
			Acquisition cost ratio			18.0		%				20.8		%				19.3		%				20.1		%				22.5		%				21.2		%
			General and administrative expense ratio			16.0		%				5.8		%				13.8		%				16.7		%				4.9		%				13.4		%
			Combined ratio			92.7		%				101.8		%				99.1		%				110.1		%				104.3		%				109.6		%
			Goodwill and intangible assets			$	312,358					$	—					$	312,358					$	324,365					$	—					$	324,365

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Publisher FASB
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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