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Net investment income (loss) (Tables)
 12 Months Ended
Dec. 31, 2020
Net Investment Income [Abstract]  
Schedule of Net Investment Income
Net investment income (loss) for the years ended December 31, 2020, 2019 and 2018 consisted of the following:
202020192018
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 derivatives14,881 8,381 (412,650)
Net gains (losses) on currencies7,998 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 $(251,433)
(1)Effective August 31, 2018, SiriusPoint, Third Point Re BDA and Third Point Re USA entered into the 2018 LPA to invest in TP Fund. As a result, the management and performance fees are presented within net investment income (loss) from investment in related party investment fund from the effective date of the transition. See Note 11 for additional information regarding management and performance fees.
The following table provides an additional breakdown of our net investment income (loss) by asset and liability type for the years ended December 31, 2020, 2019 and 2018:
202020192018
Net investment income (loss) by asset type
Equity securities$— $— $70,646 
Private common equity securities— — (401)
Private preferred equity securities— — (2,680)
Total equities— — 67,565 
Asset-backed securities34,601 — 20,714 
Bank debt376 — 5,326 
Corporate bonds34,522 — (2,958)
Municipal bonds— — 9,990 
U.S. Treasury securities2,430 8,703 2,787 
Sovereign debt162 515 (7,380)
Other debt securities— — 406 
Total debt securities72,091 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 assets72,091 9,212 79,672 
Net investment income (loss) by liability type
Equity securities— — (32,407)
Corporate bonds— — (2,452)
U.S. Treasury securities582 — — 
Options— — 21,697 
Total net investment income (loss) from securities sold, not yet purchased582 — (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 expenses11,277 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.