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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net income (loss) $ 146,938 $ 29,090
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 8,990 11,699
Share compensation expense 10,095 9,817
Net realized (gains) losses on investments (32,363) (267,140)
Change in net unrealized (gains) losses on investments (69,518) 120,500
Other items 1,330 18,473
Change in:    
Premiums receivable (166,372) (131,081)
Paid losses recoverable (47,659) (22,804)
Deferred acquisition costs (36,167) (20,600)
Prepaid reinsurance (67,898) (41,917)
Unpaid losses and loss adjustment expenses recoverable 20,740 (38,586)
Other assets 3,253 4,167
Reserve for losses and loss adjustment expenses 92,547 340,706
Unearned premiums 233,408 154,052
Reinsurance balances payable 123,634 52,692
Accounts payable and accrued expenses and other 26,711 (30,032)
Net cash provided by (used in) operating activities 247,669 189,036
Investing activities    
Proceeds from redemptions from Two Sigma Funds 1,821,046 2,126,103
Contributions to Two Sigma Funds (1,954,119) (1,846,409)
Purchases of fixed maturity investments (809,646) (608,310)
Proceeds from sales, redemptions and maturity of fixed maturity investments 418,677 402,078
Purchases of short-term investments (1,078,631) (1,319,143)
Proceeds from sales of short-term investments 1,032,091 1,573,700
Change in receivables for investments sold (18,673) (8,483)
Change in payables for investments purchased 69,741 (21,145)
Other (11,425) (7,541)
Net cash provided by (used in) investing activities (530,939) 290,850
Financing activities    
Issuance of common shares 8 7
Repurchases of common shares and options (2,247) (1,519)
Contribution of additional paid-in capital (8) 308
Term loan renewal costs 0 (345)
Withdrawal of non-controlling interest (15,066) (68,049)
Net cash provided by (used in) financing activities (17,313) (69,598)
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents (3,093) (22,158)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents (303,676) 388,130
Cash and cash equivalents and restricted cash and cash equivalents, beginning of period 1,207,203 964,126
Cash and cash equivalents and restricted cash and cash equivalents, end of period $ 903,527 $ 1,352,256