Net investment income for the three and six months ended June 30, 2014 and 2013 consisted of the following:



	For the three months ended						For the six months ended
	June 30, 2014			June 30, 2013			June 30, 2014			June 30, 2013
Net investment income by type	($ in thousands)
Net realized gains on investments and investment derivatives	$	46,556		$	13,712		$	131,308		$	112,895
Net unrealized gains (losses) on investments and investment derivatives	11,295			22,536			(4,959		)	24,305
Net realized (loss) gain on foreign currencies	(4,350		)	5,324			(8,274		)	5,717
Dividend and interest income	8,049			5,755			15,777			11,300
Dividends paid on securities sold, not yet purchased	(1		)	(166		)	(34		)	(436		)
Management and performance fees	(17,971		)	(13,360		)	(38,190		)	(38,192		)
Other expenses	(3,126		)	(1,334		)	(5,170		)	(2,524		)
Net investment income on investments managed by Third Point LLC	40,452			32,467			90,458			113,065
Investment income on cash held by the Catastrophe Reinsurer and Catastrophe Fund	28			—			57			—
Net gain on catastrophe bond held by Catastrophe Reinsurer	5			—			5			—
Net gain on reinsurance contract derivatives written by the Catastrophe Reinsurer	—			359			—			1,122
	$	40,485		$	32,826		$	90,520		$	114,187



	For the three months ended						For the six months ended
	June 30, 2014			June 30, 2013			June 30, 2014			June 30, 2013
Net investment income by asset class	($ in thousands)
Net investment gains on equity securities	$	22,822		$	31,612		$	50,645		$	107,321
Net investment gains on debt securities	31,783			8,570			86,975			42,599
Net investment (losses) gains on other investments	(3,785		)	12,318			(4,980		)	3,078
Net investment (losses) gains on investment derivatives	(1,782		)	1,566			(8,035		)	18,409
Net investment gains (losses) on securities sold, not yet purchased	15,397			(11,658		)	15,384			(21,874		)
Net investment (loss) income on cash, including foreign exchange gains (losses)	(4,718		)	4,528			(9,173		)	5,133
Net investment gains (losses) on securities purchased under and agreement to resell	(224		)	517			(211		)	21
Management and performance fees	(17,971		)	(13,360		)	(38,190		)	(38,192		)
Other investment expenses	(1,037		)	(1,267		)	(1,895		)	(2,308		)
	$	40,485		$	32,826		$	90,520		$	114,187