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Net investment income (loss) | 12 Months Ended
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Dec. 31, 2020
Net Investment Income [Abstract] |
Net investment income (loss) | 14. Net investment income (loss) Net investment income (loss) for the years ended December 31, 2020, 2019 and 2018 consisted of the following:
| 2020 |  | 2019 |  | 2018
Net investment income (loss) by type |
Net realized gains (losses) on investments and investment derivatives | $ | 46,369 |  |  | $ | (5,850) |  |  | $ | 446,646 |
Net change in unrealized gains (losses) on investments and investment derivatives | 14,881 |  |  | 8,381 |  |  | (412,650) |
Net gains (losses) on currencies | 7,998 |  |  | 12,806 |  |  | (7,305) |
Dividend and interest income | 16,035 |  |  | 18,551 |  |  | 53,523 |
Dividends paid on securities sold, not yet purchased | — |  |  | — |  |  | (5,259) |
Other expenses | (1,333) |  |  | (954) |  |  | (15,696) |
Management and performance fees to related parties (1) | — |  |  | — |  |  | (29,845) |
Net investment income (loss) from investment in related party investment fund (1) | 194,988 |  |  | 249,626 |  |  | (280,847) |
Net investment income (loss) | $ | 278,938 |  |  | $ | 282,560 |  |  | $ | (251,433) |
(1)Effective August 31, 2018, SiriusPoint, Third Point Re BDA and Third Point Re USA entered into the 2018 LPA to invest in TP Fund. As a result, the management and performance fees are presented within net investment income (loss) from investment in related party investment fund from the effective date of the transition. See Note 11 for additional information regarding management and performance fees. The following table provides an additional breakdown of our net investment income (loss) by asset and liability type for the years ended December 31, 2020, 2019 and 2018:
| 2020 |  | 2019 |  | 2018
Net investment income (loss) by asset type |
Equity securities | $ | — |  |  | $ | — |  |  | $ | 70,646 |
Private common equity securities | — |  |  | — |  |  | (401) |
Private preferred equity securities | — |  |  | — |  |  | (2,680) |
Total equities | — |  |  | — |  |  | 67,565 |
Asset-backed securities | 34,601 |  |  | — |  |  | 20,714 |
Bank debt | 376 |  |  | — |  |  | 5,326 |
Corporate bonds | 34,522 |  |  | — |  |  | (2,958) |
Municipal bonds | — |  |  | — |  |  | 9,990 |
U.S. Treasury securities | 2,430 |  |  | 8,703 |  |  | 2,787 |
Sovereign debt | 162 |  |  | 515 |  |  | (7,380) |
Other debt securities | — |  |  | — |  |  | 406 |
Total debt securities | 72,091 |  |  | 9,218 |  |  | 28,885 |
Options | — |  |  | — |  |  | (15,527) |
Rights and warrants | — |  |  | — |  |  | 238 |
Real estate | — |  |  | — |  |  | (186) |
Trade claims | — |  |  | — |  |  | (580) |
Total other investments | — |  |  | — |  |  | (16,055) |
Net investment loss in funds valued at NAV, excluding TP Fund | — |  |  | (6) |  |  | (723) |
Total net investment income from invested assets | 72,091 |  |  | 9,212 |  |  | 79,672 |
Net investment income (loss) by liability type |  |  |  |  |
Equity securities | — |  |  | — |  |  | (32,407) |
Corporate bonds | — |  |  | — |  |  | (2,452) |
U.S. Treasury securities | 582 |  |  | — |  |  | — |
Options | — |  |  | — |  |  | 21,697 |
Total net investment income (loss) from securities sold, not yet purchased | 582 |  |  | — |  |  | (13,162) |
Other investment income (losses) and other expenses not presented above |  |  |  |  |
Other investment income (expenses) | (1,021) |  |  | (954) |  |  | 903 |
Net investment income on derivative contracts | — |  |  | — |  |  | 644 |
Net investment income (loss) on cash, including foreign exchange gain (loss) | 12,298 |  |  | 24,676 |  |  | (14,885) |
Net investment losses on securities purchased under an agreement to sell and securities sold under an agreement to repurchase | — |  |  | — |  |  | (238) |
Withholding taxes reclassified to income tax expense | — |  |  | — |  |  | 6,325 |
Total other investment income and other expenses | 11,277 |  |  | 23,722 |  |  | (7,251) |
Management and performance fees to related parties (1) | — |  |  | — |  |  | (29,845) |
Net investment income (loss) from investment in related party investment fund (1) | 194,988 |  |  | 249,626 |  |  | (280,847) |
Net investment income (loss) | $ | 278,938 |  |  | $ | 282,560 |  |  | $ | (251,433) |
(1)Effective August 31, 2018, SiriusPoint, Third Point Re BDA and Third Point Re USA entered into the 2018 LPA to invest in TP Fund. As a result, the management and performance fees are presented within net investment income (loss) from investment in related party investment fund from the effective date of the transition. See Note 11 for additional information regarding management and performance fees.

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