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



	For the three months ended						For the nine months ended
	September 30, 2014			September 30, 2013			September 30, 2014			September 30, 2013
Net investment income by type	($ in thousands)
Net realized gains on investments and investment derivatives	$	53,378		$	63,778		$	184,686		$	176,673
Net unrealized gains (losses) on investments and investment derivatives	(62,448		)	7,404			(67,407		)	31,709
Net realized gain (loss) on foreign currencies	13,125			(1,353		)	4,851			4,364
Dividend and interest income	6,628			4,287			22,405			15,587
Dividends paid on securities sold, not yet purchased	—			(171		)	(34		)	(607		)
Management and performance fees	(8,440		)	(19,558		)	(46,630		)	(57,750		)
Other expenses	(1,573		)	(1,860		)	(6,743		)	(4,383		)
Net investment income on investments managed by Third Point LLC	670			52,527			91,128			165,593
Investment income on cash held by the Catastrophe Reinsurer and Catastrophe Fund	27			28			84			44
Net gain on catastrophe bond held by Catastrophe Reinsurer	75			—			80			—
Net gain on reinsurance contract derivatives written by the Catastrophe Reinsurer	780			2,062			780			3,167
	$	1,552		$	54,617		$	92,072		$	168,804



	For the three months ended						For the nine months ended
	September 30, 2014			September 30, 2013			September 30, 2014			September 30, 2013
Net investment income by asset class	($ in thousands)
Net investment gains on equity securities	$	6,282		$	60,042		$	56,927		$	167,364
Net investment gains (losses) on debt securities	(5,435		)	14,950			81,540			57,549
Net investment gains (loss) on other investments	(25,807		)	(4,595		)	(30,787		)	(1,517		)
Net investment gains on investment derivatives	18,446			751			10,412			19,143
Net investment gains (losses) on securities sold, not yet purchased	4,861			5,857			20,245			(16,017		)
Net investment income (loss) on cash, including foreign exchange gains (losses)	15,095			(2,906		)	5,921			2,243
Net investment gains (losses) on securities purchased under and agreement to resell	(2,381		)	1,207			(2,592		)	1,228
Management and performance fees	(8,440		)	(19,558		)	(46,630		)	(57,750		)
Other investment expenses	(1,069		)	(1,131		)	(2,964		)	(3,439		)
	$	1,552		$	54,617		$	92,072		$	168,804