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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net income (loss) $ 538,749 $ 146,938
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 13,081 8,990
Share compensation expense 22,264 10,095
Net realized (gains) losses on investments (382,646) (32,363)
Change in net unrealized (gains) losses on investments (72,205) (69,518)
Other items (11,786) 1,330
Change in:    
Premiums receivable (227,381) (166,372)
Paid losses recoverable (806) (47,659)
Deferred acquisition costs (49,058) (36,167)
Prepaid reinsurance (65,868) (67,898)
Unpaid losses and loss adjustment expenses recoverable (29,388) 20,740
Other assets 17,111 3,253
Reserve for losses and loss adjustment expenses 404,763 92,547
Unearned premiums 280,849 233,408
Reinsurance balances payable 62,201 123,634
Accounts payable and accrued expenses and other (24,667) 26,711
Net cash provided by (used in) operating activities 475,213 247,669
Investing activities    
Proceeds from redemptions from Two Sigma Funds 2,129,185 1,821,046
Contributions to Two Sigma Funds (1,836,664) (1,954,119)
Purchases of fixed maturity investments (1,466,805) (809,646)
Proceeds from sales, redemptions and maturity of fixed maturity investments 1,032,664 418,677
Purchases of short-term investments (1,335,003) (1,078,631)
Proceeds from sales of short-term investments 1,288,278 1,032,091
Change in receivables for investments sold 3,340 (18,673)
Change in payables for investments purchased 106,299 69,741
Other (16,570) (11,425)
Net cash provided by (used in) investing activities (95,276) (530,939)
Financing activities    
Issuance of common shares 11 8
Repurchases of common shares (123,394) (2,247)
Contribution of additional paid-in capital 386 (8)
Withdrawal of non-controlling interest (112,313) (15,066)
Net cash provided by (used in) financing activities (235,310) (17,313)
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents 5,768 (3,093)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents 150,395 (303,676)
Cash and cash equivalents and restricted cash and cash equivalents, beginning of period 900,860 1,207,203
Cash and cash equivalents and restricted cash and cash equivalents, end of period $ 1,051,255 $ 903,527