XML 172 R30.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Quarterly Financial Results | 12 Months Ended
--- | ---
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Quarterly financial results |
| Three months ended
| December 31, 2019 |  | September 30, 2019 |  | June 30, 2019 |  | March 31, 2019
Revenues |  |  |  |  |  |  |
Gross premiums written | $ | 134,230 |  |  | $ | 95,388 |  |  | $ | 82,637 |  |  | $ | 319,591 |
Gross premiums ceded | (5,964 | ) |  | (1,116 | ) |  | (1,473 | ) |  | (712 | )
Net premiums written | 128,266 |  |  | 94,272 |  |  | 81,164 |  |  | 318,879 |
Change in net unearned premium reserves | 70,126 |  |  | 108,976 |  |  | 64,288 |  |  | (165,829 | )
Net premiums earned | 198,392 |  |  | 203,248 |  |  | 145,452 |  |  | 153,050 |
Net investment income (loss) | 61,614 |  |  | (3,138 | ) |  | 69,131 |  |  | 154,953 |
Total revenues | 260,006 |  |  | 200,110 |  |  | 214,583 |  |  | 308,003 |
Expenses |  |  |  |  |  |  |
Loss and loss adjustment expenses incurred, net | 140,394 |  |  | 85,703 |  |  | 82,334 |  |  | 95,068 |
Acquisition costs, net | 61,851 |  |  | 118,271 |  |  | 58,006 |  |  | 57,498 |
General and administrative expenses | 12,744 |  |  | 9,237 |  |  | 19,650 |  |  | 12,132 |
Other expenses | 3,625 |  |  | 5,058 |  |  | 3,811 |  |  | 4,125 |
Interest expense | 2,074 |  |  | 2,074 |  |  | 2,051 |  |  | 2,029 |
Foreign exchange (gains) losses | 10,298 |  |  | (4,921 | ) |  | (4,260 | ) |  | 2,518 |
Total expenses | 230,986 |  |  | 215,422 |  |  | 161,592 |  |  | 173,370 |
Income (loss) before income tax (expense) benefit | 29,020 |  |  | (15,312 | ) |  | 52,991 |  |  | 134,633 |
Income tax (expense) benefit | 718 |  |  | 213 |  |  | 74 |  |  | (1,718 | )
Net income (loss) | 29,738 |  |  | (15,099 | ) |  | 53,065 |  |  | 132,915 |
Net income attributable to noncontrolling interests in related party | — |  |  | — |  |  | — |  |  | — |
Net income (loss) available to Third Point Re common shareholders | $ | 29,738 |  |  | $ | (15,099 | ) |  | $ | 53,065 |  |  | $ | 132,915 |
Earnings (loss) per share available to Third Point Re common shareholders |  |  |  |  |  |  |
Basic earnings (loss) per share available to Third Point Re common shareholders | $ | 0.32 |  |  | $ | (0.16 | ) |  | $ | 0.58 |  |  | $ | 1.45 |
Diluted earnings (loss) per share available to Third Point Re common shareholders | $ | 0.32 |  |  | $ | (0.16 | ) |  | $ | 0.57 |  |  | $ | 1.43 |
Weighted average number of common shares used in the determination of earnings (loss) per share |  |  |  |  |  |  |
Basic | 91,989,469 |  |  | 91,903,556 |  |  | 91,776,870 |  |  | 91,669,810 |
Diluted | 92,696,491 |  |  | 91,903,556 |  |  | 92,801,799 |  |  | 92,578,933 |
| Three months ended
| December 31, 2018 |  | September 30, 2018 |  | June 30, 2018 |  | March 31, 2018
Revenues |  |  |  |  |  |  |
Gross premiums written | $ | 120,063 |  |  | $ | 30,064 |  |  | $ | 49,765 |  |  | $ | 378,360 |
Gross premiums ceded | (1,770 | ) |  | — |  |  | (3,479 | ) |  | (14,646 | )
Net premiums written | 118,293 |  |  | 30,064 |  |  | 46,286 |  |  | 363,714 |
Change in net unearned premium reserves | 91,177 |  |  | 97,929 |  |  | 95,207 |  |  | (221,228 | )
Net premiums earned | 209,470 |  |  | 127,993 |  |  | 141,493 |  |  | 142,486 |
Net investment income (loss) | (276,810 | ) |  | (3,590 | ) |  | 31,175 |  |  | (2,208 | )
Total revenues | (67,340 | ) |  | 124,403 |  |  | 172,668 |  |  | 140,278 |
Expenses |  |  |  |  |  |  |
Loss and loss adjustment expenses incurred, net | 173,088 |  |  | 88,706 |  |  | 84,000 |  |  | 92,620 |
Acquisition costs, net | 56,668 |  |  | 40,841 |  |  | 57,584 |  |  | 51,405 |
General and administrative expenses | 7,553 |  |  | 9,511 |  |  | 9,696 |  |  | 9,481 |
Other (income) expenses | 2,994 |  |  | (1,362 | ) |  | 3,983 |  |  | 3,995 |
Interest expense | 2,074 |  |  | 2,074 |  |  | 2,051 |  |  | 2,029 |
Foreign exchange (gains) losses | (3,288 | ) |  | (1,979 | ) |  | (8,847 | ) |  | 6,611 |
Total expenses | 239,089 |  |  | 137,791 |  |  | 148,467 |  |  | 166,141 |
Income (loss) before income tax (expense) benefit | (306,429 | ) |  | (13,388 | ) |  | 24,201 |  |  | (25,863 | )
Income tax (expense) benefit | 8,417 |  |  | 111 |  |  | (4,390 | ) |  | (128 | )
Net income (loss) | (298,012 | ) |  | (13,277 | ) |  | 19,811 |  |  | (25,991 | )
Net income attributable to noncontrolling interests in related party | — |  |  | (4 | ) |  | (209 | ) |  | (10 | )
Net income (loss) available to Third Point Re common shareholders | $ | (298,012 | ) |  | $ | (13,281 | ) |  | $ | 19,602 |  |  | $ | (26,001 | )
Earnings (loss) per share available to Third Point Re common shareholders |  |  |  |  |  |  |
Basic earnings (loss) per share available to Third Point Re common shareholders | $ | (3.24 | ) |  | $ | (0.14 | ) |  | $ | 0.20 |  |  | $ | (0.26 | )
Diluted earnings (loss) per share available to Third Point Re common shareholders | $ | (3.24 | ) |  | $ | (0.14 | ) |  | $ | 0.19 |  |  | $ | (0.26 | )
Weighted average number of common shares used in the determination of earnings (loss) pe r share |  |  |  |  |  |  |
Basic | 91,967,831 |  |  | 95,671,385 |  |  | 99,498,901 |  |  | 101,195,747 |
Diluted | 91,967,831 |  |  | 95,671,385 |  |  | 102,032,485 |  |  | 101,195,747 |

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration