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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2022

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:

						2022																		2021
			Three months ended and at September 30,			Insurance						Reinsurance						Total						Insurance						Reinsurance						Total
			Gross premiums written			$	1,317,890					$	389,918					$	1,707,808					$	1,176,500					$	469,989					$	1,646,489
			Net premiums written			777,789						258,995						1,036,784						707,492						288,979						996,471
			Net premiums earned			782,101						502,765						1,284,866						681,008						530,419						1,211,427
			Other insurance related income			151						941						1,092						468						7,197						7,665
			Net losses and loss expenses			(519,006)						(422,905)						(941,911)						(442,681)						(468,688)						(911,369)
			Acquisition costs			(139,436)						(101,075)						(240,511)						(123,529)						(108,183)						(231,712)
			Underwriting-related general and administrative expenses			(108,072)						(24,498)						(132,570)						(104,905)						(29,921)						(134,826)
			Underwriting income (loss)			$	15,738					$	(44,772)					(29,034)						$	10,361					$	(69,176)					(58,815)
			Net investment income															88,177																		107,339
			Net investment gains (losses)															(146,458)																		10,932
			Corporate expenses															(25,675)																		(23,134)
			Foreign exchange gains															135,660																		28,032
			Interest expense and financing costs															(15,915)																		(15,954)
			Reorganization expenses															(6,213)																		—
			Amortization of value of business acquired															—																		(1,028)
			Amortization of intangible assets															(2,729)																		(3,149)
			Income (loss) before income taxes and interest in income (loss) of equity method investments															(2,187)																		44,223
			Income tax (expense) benefit															363																		(1,186)
			Interest in income (loss) of equity method investments															(7,560)																		11,911
			Net income (loss)															(9,384)																		54,948
			Preferred share dividends															7,563																		7,563
			Net income (loss) available (attributable) to common shareholders															$	(16,947)																	$	47,385
			Net losses and loss expenses ratio			66.4		%				84.1		%				73.3		%				65.0		%				88.4		%				75.2		%
			Acquisition cost ratio			17.8		%				20.1		%				18.7		%				18.1		%				20.4		%				19.1		%
			General and administrative expense ratio			13.8		%				4.9		%				12.3		%				15.4		%				5.6		%				13.1		%
			Combined ratio			98.0		%				109.1		%				104.3		%				98.5		%				114.4		%				107.4		%
			Goodwill and intangible assets			$	301,330					$	—					$	301,330					$	312,358					$	—					$	312,358

						2022																		2021
			Nine months ended and at September 30,			Insurance						Reinsurance						Total						Insurance						Reinsurance						Total
			Gross premiums written			$	4,114,776					$	2,341,123					$	6,455,899					$	3,548,169					$	2,574,987					$	6,123,156
			Net premiums written			2,491,120						1,675,382						4,166,502						2,128,190						1,851,025						3,979,215
			Net premiums earned			2,303,640						1,516,523						3,820,163						1,928,970						1,543,120						3,472,090
			Other insurance related income			470						9,528						9,998						1,435						14,827						16,262
			Net losses and loss expenses			(1,346,585)						(1,097,611)						(2,444,196)						(1,131,753)						(1,160,806)						(2,292,559)
			Acquisition costs			(422,979)						(323,464)						(746,443)						(348,172)						(321,482)						(669,654)
			Underwriting-related general and administrative expenses			(330,598)						(82,471)						(413,069)						(307,777)						(88,678)						(396,455)
			Underwriting income (loss)			$	203,948					$	22,505					226,453						$	142,703					$	(13,019)					129,684
			Net investment income															271,744																		326,174
			Net investment gains (losses)															(414,231)																		113,868
			Corporate expenses															(79,803)																		(82,365)
			Foreign exchange gains															236,934																		4,316
			Interest expense and financing costs															(46,720)																		(46,759)
			Reorganization expenses															(21,941)																		—
			Amortization of value of business acquired															—																		(3,083)
			Amortization of intangible assets															(8,188)																		(9,163)
			Income before income taxes and interest in income of equity method investments															164,248																		432,672
			Income tax (expense) benefit															5,304																		(49,827)
			Interest in income of equity method investments															5,040																		30,871
			Net income															174,592																		413,716
			Preferred share dividends															22,688																		22,688
			Net income available to common shareholders															$	151,904																	$	391,028
			Net losses and loss expenses ratio			58.5		%				72.4		%				64.0		%				58.7		%				75.2		%				66.0		%
			Acquisition cost ratio			18.4		%				21.3		%				19.5		%				18.0		%				20.8		%				19.3		%
			General and administrative expense ratio			14.3		%				5.4		%				12.9		%				16.0		%				5.8		%				13.8		%
			Combined ratio			91.2		%				99.1		%				96.4		%				92.7		%				101.8		%				99.1		%
			Goodwill and intangible assets			$	301,330					$	—					$	301,330					$	312,358					$	—					$	312,358

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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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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