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Investments (Tables) | 12 Months Ended
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Dec. 31, 2019
Fair Value Disclosures [Abstract] |
Schedule of Investments Managed by TP LLC | The following is a summary of the net investments managed by Third Point LLC as of December 31, 2019 and 2018:
| 2019 |  | 2018
Assets |
TP Fund | $ | 860,630 |  |  | $ | 1,284,004 |
Debt securities | 125,071 |  |  | 239,640 |
Total investments | 985,701 |  |  | 1,523,644 |
Cash and cash equivalents | 588,196 |  |  | 1,017 |
Restricted cash and cash equivalents | 1,014,543 |  |  | 609,154 |
Due from brokers | — |  |  | 1,411 |
Interest and dividends receivable | 2,178 |  |  | 1,316 |
Other assets | 18 |  |  | — |
Total assets | 2,590,636 |  |  | 2,136,542 |
Liabilities |  |  |
Accounts payable and accrued expenses | 509 |  |  | 114 |
Participation agreement with related party investment fund | — |  |  | 2,297 |
Total liabilities | 509 |  |  | 2,411 |
Total net investments managed by Third Point LLC | $ | 2,590,127 |  |  | $ | 2,134,131 |
The TP Fund investment strategy, as implemented by Third Point LLC, is intended to achieve superior risk-adjusted returns by deploying capital in both long and short investments with favorable risk/reward characteristics across select asset classes, sectors and geographies. Third Point LLC identifies investment opportunities via a bottom-up, value-oriented approach to single security analysis supplemented by a top-down view of portfolio and risk management. Third Point LLC seeks dislocations in certain areas of the capital markets or in the pricing of particular securities and supplements single security analysis with an approach to portfolio construction that includes sizing each investment based on upside/ downside calculations, all with a view towards appropriately positioning and managing overall exposures. On July 31, 2018, Third Point Re, Third Point Re BDA and Third Point Re USA entered into the Amended and Restated Exempted Limited Partnership Agreement (the “2018 LPA”) of TP Fund with Third Point Advisors LLC (“TP GP”) and others, effective August 31, 2018. In accordance with the 2018 LPA, TP GP serves as the general partner of TP Fund. TP GP is beneficially owned by Daniel S. Loeb, a founder of the Company, and certain members of his family. Pursuant to the investment management agreement between Third Point LLC and TP Fund, dated July 31, 2018 as amended and restated on February 28, 2019 (the “TP Fund IMA”), Third Point LLC is the investment manager for TP Fund (the “Investment Manager”). In addition, on July 31, 2018, the TPRE Limited Partners, and TP Fund executed a Subscription Agreement pursuant to which the TPRE Limited Partners transferred certain net investment assets and related liabilities from their separate accounts to TP Fund, and TP Fund issued limited partner interests to the TPRE Limited Partners proportionate to and based on the net asset value transferred by each such entity on the applicable transfer date. Certain collateral assets consisting of debt securities and restricted cash were not transferred to TP Fund but are also managed by Third Point LLC under the Collateral Assets IMA, as defined below. On February 28, 2019, Third Point Re, Third Point Re BDA and Third Point Re USA entered into the Second Amended and Restated Exempted Limited Partnership Agreement of TP Fund (the “Amended LPA”), which amended and restated the 2018 LPA (as amended and restated by the Amended LPA, the “LPA”), with effect from January 1, 2019. The Amended LPA preserves the loss carryforward attributable to the Company’s investment in TP Fund when contributions to TP Fund are made within nine months of certain types of withdrawals from TP Fund. In addition, the Amended LPA revised the management fee from 1.5% per annum to 1.25% per annum effective from January 1, 2019. See Note 9 for additional information. On July 31, 2018, Third Point Re BDA and Third Point Re USA entered into the Collateral Assets Investment Management Agreement (the “2018 Collateral Assets IMA”) with Third Point LLC effective August 31, 2018, pursuant to which Third Point LLC serves as investment manager of certain collateral assets not transferred to TP Fund (the “Collateral Assets”). The 2018 Collateral Assets IMA will continue in effect for so long as either Third Point Re BDA or Third Point Re USA remains a limited partner of TP Fund. The collateral assets are presented in the consolidated balance sheets within debt securities and restricted cash and are considered as part of total net investments managed by Third Point LLC. On May 24, 2019, Third Point Re BDA and Third Point Re USA entered into the Amended and Restated Collateral Assets Investment Management Agreement (the “Amended Collateral Assets IMA” and together with the 2018 Collateral Assets IMA, the “Collateral Assets IMA”) with Third Point LLC, effective May 24, 2019, pursuant to which, in addition to serving as the investment manager for the Company’s collateral assets, Third Point LLC will serve as investment manager of certain investment assets withdrawn from TP Fund. The Amended Collateral Assets IMA will continue in effect thereafter so long as either Third Point Re BDA or Third Point Re USA remains a limited partner of TP Fund. The Company entered into the Amended Collateral Assets IMA to provide for Third Point LLC's management of a substantial portion of the Company’s assets that were reallocated from TP Fund into cash, U.S. Treasuries and other fixed income investments. There are no management or performance fees under the Collateral Assets IMA.
Schedule of investments, categorized by the level of the fair value hierarchy | The following tables present the Company’s investments, categorized by the level of the fair value hierarchy as of December 31, 2019 and 2018:
| December 31, 2019
| Quoted prices in active markets |  | Significant other observable inputs |  | Significant unobservable inputs |  | Total
| (Level 1) |  | (Level 2) |  | (Level 3) |
Assets |
Private common equity securities | $ | — |  |  | $ | — |  |  | $ | 1,000 |  |  | $ | 1,000 |
Private preferred equity securities | — |  |  | — |  |  | 3,000 |  |  | 3,000 |
Total equities | — |  |  | — |  |  | 4,000 |  |  | 4,000 |
U.S. Treasury securities | — |  |  | 101,186 |  |  | — |  |  | 101,186 |
Sovereign debt | — |  |  | 23,885 |  |  | — |  |  | 23,885 |
Total debt securities | — |  |  | 125,071 |  |  | — |  |  | 125,071 |
| $ | — |  |  | $ | 125,071 |  |  | $ | 4,000 |  |  | 129,071 |
Investments in funds valued at NAV |  |  |  |  |  |  | 860,630 |
Total assets |  |  |  |  |  |  | $ | 989,701 |
Liabilities |  |  |  |  |  |  |
Derivative liabilities (embedded) | $ | — |  |  | $ | — |  |  | $ | 31 |  |  | $ | 31 |
Total liabilities | $ | — |  |  | $ | — |  |  | $ | 31 |  |  | $ | 31 |
| December 31, 2018
| Quoted prices in active markets |  | Significant other observable inputs |  | Significant unobservable inputs |  | Total
| (Level 1) |  | (Level 2) |  | (Level 3) |
Assets |
U.S. Treasury securities | $ | — |  |  | $ | 197,312 |  |  | $ | — |  |  | $ | 197,312 |
Sovereign debt | — |  |  | 42,328 |  |  | — |  |  | 42,328 |
Total debt securities | $ | — |  |  | $ | 239,640 |  |  | $ | — |  |  | 239,640 |
Investments in funds valued at NAV |  |  |  |  |  |  | 1,284,088 |
Total assets |  |  |  |  |  |  | $ | 1,523,728 |
Liabilities |  |  |  |  |  |  |
Derivative liabilities (embedded) | $ | — |  |  | $ | — |  |  | $ | 22 |  |  | $ | 22 |
Total liabilities | $ | — |  |  | $ | — |  |  | $ | 22 |  |  | $ | 22 |
Schedule of reconciliation of the balances for all investments measured at fair value using significant unobservable inputs | The following table presents the reconciliation of all investments measured at fair value using Level 3 inputs for the years ended December 31, 2019 and 2018:
| January 1, 2019 |  | Transfers in to (out of) Level 3 |  | Purchases |  | Sales |  | Realized and Unrealized Gains(Losses) (2) |  | December 31, 2019
Assets |  |  |  |  |  |  |  |  |  |  |
Private common equity securities | $ | — |  |  | $ | — |  |  | $ | 1,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,000 |
Private preferred equity securities | — |  |  | — |  |  | 3,000 |  |  | — |  |  | — |  |  | 3,000 |
Total assets | $ | — |  |  | $ | — |  |  | $ | 4,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,000 |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities (embedded) | $ | (22 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (9 | ) |  | $ | (31 | )
Total liabilities | $ | (22 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (9 | ) |  | $ | (31 | )
| January 1, 2018 |  | Transfers in to (out of) Level 3 |  | Purchases |  | Sales (1) |  | Realized and Unrealized Gains(Losses)(2) |  | December 31, 2018
Assets |  |  |  |  |  |  |  |  |  |  |
Private common equity securities | $ | 4,794 |  |  | $ | — |  |  | $ | 567 |  |  | $ | (4,726 | ) |  | $ | (635 | ) |  | $ | — |
Private preferred equity securities | 57,126 |  |  | — |  |  | 38,376 |  |  | (91,065 | ) |  | (4,437 | ) |  | — |
Asset-backed securities | 27,308 |  |  | — |  |  | 35,905 |  |  | (60,906 | ) |  | (2,307 | ) |  | — |
Corporate bonds | 9,868 |  |  | — |  |  | 1,372 |  |  | (11,763 | ) |  | 523 |  |  | — |
Other debt securities | 713 |  |  | — |  |  | — |  |  | (913 | ) |  | 200 |  |  | — |
Rights and warrants | 435 |  |  | — |  |  | 753 |  |  | (1,380 | ) |  | 192 |  |  | — |
Real estate | 6,831 |  |  | — |  |  | — |  |  | (6,817 | ) |  | (14 | ) |  | — |
Total assets | $ | 107,075 |  |  | $ | — |  |  | $ | 76,973 |  |  | $ | (177,570 | ) |  | $ | (6,478 | ) |  | $ | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities (free standing) | $ | (2,085 | ) |  | $ | — |  |  | $ | — |  |  | $ | 1,797 |  |  | $ | 288 |  |  | $ | — |
Derivative liabilities (embedded) | (171 | ) |  | — |  |  | — |  |  | — |  |  | 149 |  |  | (22 | )
Total liabilities | $ | (2,256 | ) |  | $ | — |  |  | $ | — |  |  | $ | 1,797 |  |  | $ | 437 |  |  | $ | (22 | )
(1) | Sales of investments measured at fair value using Level 3 inputs in the year ended December 31, 2018 include the impact of the change in investment account structure as described in Note 4.
(2) Total change in realized and unrealized gains (losses) recorded on Level 3 financial instruments is included in net investment income (loss) in the consolidated statements of income (loss). Realized and unrealized gains (losses) related to embedded derivatives are included in other expenses in the consolidated statements of income (loss).

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- Definition Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] + References No definition available. + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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