v2.4.0.8

Operating segment data (Tables) | 6 Months Ended
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Jun. 30, 2014
Segment Reporting [Abstract] |
Schedule of segment profit (loss), and segment assets | The tabular information that follows shows components of revenue, expense, and profit or loss, for each of the operating segments for the periods ended June 30, 2014 and 2013 and total assets as of June 30, 2014 and December 31, 2013. Revenue is derived from the main income components of each segment. For Insurance and Insurance Services, the main drivers of revenue are fees on separate account assets, and administration service fees. For Specialty Finance, the main sources of revenue are investment interest and realized and unrealized gains/losses on investment securities. For Asset Management, revenue is derived from management fees based on assets under management and, in some cases, incentive fees based on the profits generated. For Real Estate, revenue includes rental revenue and investment interest. Intersegment revenues refers to those items of revenue which will be eliminated upon consolidation. Included in revenue, expense, interest revenue, interest expense, segment profit/(loss), and segment assets are items which are eliminated upon consolidation as well as adjustments for discontinued operations, reclassifications, assets of consolidated CLOs and non-controlling interest. These items are classified as corporate eliminations and other in the tables below. Each reportable segment’s measure of profit/(loss) is reported before income taxes and includes discontinued operations and non-controlling interest as this is how management views its segments.
| Three months ended June 30, 2014
| Insurance and insurance services |  | Specialty finance |  | Asset management |  | Real estate |  | Corporate eliminations and other |  | Totals
Fee income | $ | 18,114 |  | (1) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 18,114 |
Rental revenue | — |  |  | — |  |  | — |  |  | 4,375 |  |  | 18 |  |  | 4,393 |
Interest income | 1,145 |  |  | 6,643 |  |  | — |  |  | 682 |  |  | (3,532 | ) |  | 4,938 |
Other revenue | 9 |  |  | 1,871 |  |  | 442 |  | (2) | 113 |  |  | (451 | ) |  | 1,984 |
Intersegment revenues | — |  |  | 110 |  |  | 2,943 |  | (2) | — |  |  | (3,053 | ) |  | — |
Total revenue | $ | 19,268 |  |  | $ | 8,624 |  |  | $ | 3,385 |  |  | $ | 5,170 |  |  | $ | (7,018 | ) |  | $ | 29,429 |
Interest expense | $ | 2,897 |  |  | $ | 2,340 |  |  | $ | — |  |  | $ | 978 |  |  | $ | 44 |  |  | $ | 6,259 |
Payroll expense | 4,788 |  |  | 3,237 |  |  | 2,772 |  |  | 1,716 |  |  | — |  |  | 12,513 |
Professional fee expense | 734 |  |  | 1,329 |  |  | 252 |  |  | 117 |  |  | 392 |  |  | 2,824 |
Other expense | 7,087 |  |  | 898 |  |  | 372 |  |  | 1,952 |  |  | (776 | ) |  | 9,533 |
Total expense | 15,506 |  |  | 7,804 |  |  | 3,396 |  |  | 4,763 |  |  | (340 | ) |  | 31,129 |
Segment profit/(loss) | $ | 3,762 |  |  | $ | 820 |  |  | $ | (11 | ) |  | $ | 407 |  |  | $ | (6,678 | ) |  | $ | (1,700 | )
Net loss attributable to consolidated CLOs |  |  |  |  |  |  |  |  |  |  | (2,148 | )
Less: non-controlling interest and net income attributable to the VIE subordinated noteholders |  |  |  |  |  |  |  |  |  |  | (5,416 | )
Discontinued operations |  |  |  |  |  |  |  |  |  |  | — |
Income taxes |  |  |  |  |  |  |  |  |  |  | 497 |
Net income available to common stockholders |  |  |  |  |  |  |  |  |  |  | $ | 1,071 |
(1) Includes separate account and administrative servicing fees. (2) Includes management fees which is a component of other income on the Company’s Consolidated Statements of Operations.
| Three months ended June 30, 2013
| Insurance and insurance services |  | Specialty finance |  | Asset management |  | Real estate |  | Corporate eliminations and other |  | Totals
Fee income | $ | 17,669 |  | (1) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 17,669 |
Rental revenue | — |  |  | — |  |  | — |  |  | 3,995 |  |  | (2,901 | ) |  | 1,094 |
Interest income | 1,226 |  |  | 5,720 |  |  | — |  |  | 587 |  |  | (3,345 | ) |  | 4,188 |
Other revenue/unrealized (loss) | 40 |  |  | (4,401 | ) |  | 74 |  | (2 | ) | 17,153 |  |  | (16,035 | ) |  | (3,169 | )
Intersegment revenues | — |  |  | 47 |  |  | 5,141 |  | (2 | ) | — |  |  | (5,188 | ) |  | — |
Total revenue | $ | 18,935 |  |  | $ | 1,366 |  |  | $ | 5,215 |  |  | $ | 21,735 |  |  | $ | (27,469 | ) |  | $ | 19,782 |
Interest expense | $ | 3,129 |  |  | $ | 570 |  |  | $ | — |  |  | $ | 1,711 |  |  | $ | (1,347 | ) |  | $ | 4,063 |
Payroll expense | 4,595 |  |  | 269 |  |  | 3,450 |  |  | 582 |  |  | — |  |  | 8,896 |
Professional fee expense | 336 |  |  | 841 |  |  | 216 |  |  | 1,187 |  |  | — |  |  | 2,580 |
Other expense | 6,681 |  |  | 672 |  |  | 203 |  |  | 2,981 |  |  | (1,840 | ) |  | 8,697 |
Total expense | 14,741 |  |  | 2,352 |  |  | 3,869 |  |  | 6,461 |  |  | (3,187 | ) |  | 24,236 |
Segment profit/(loss) | $ | 4,194 |  |  | $ | (986 | ) |  | $ | 1,346 |  |  | $ | 15,274 |  |  | $ | (24,282 | ) |  | $ | (4,454 | )
Net loss attributable to consolidated CLOs |  |  |  |  |  |  |  |  |  |  | (5,762 | )
Less: non-controlling interest and net income attributable to the VIE subordinated noteholders |  |  |  |  |  |  |  |  |  |  | 822 |
Discontinued operations |  |  |  |  |  |  |  |  |  |  | 16,269 |
Income taxes |  |  |  |  |  |  |  |  |  |  | 1,816 |
Net income available to common stockholders |  |  |  |  |  |  |  |  |  |  | 3,415 |
(1) Includes separate account and administrative servicing fees. (2) Includes management fees which is a component of other income on the Company’s Consolidated Statements of Operations.
| Six months ended June 30, 2014
| Insurance and insurance services |  | Specialty finance |  | Asset management |  | Real estate |  | Corporate eliminations and other |  | Totals
Fee income | $ | 35,953 |  | (1) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 35,953 |
Rental revenue | — |  |  | — |  |  | — |  |  | 8,821 |  |  | 18 |  |  | 8,839 |
Interest income | 2,333 |  |  | 13,959 |  |  | — |  |  | 1,365 |  |  | (7,356 | ) |  | 10,301 |
Other revenue | 14 |  |  | 4,370 |  |  | 537 |  | (2) | 342 |  |  | (595 | ) |  | 4,668 |
Intersegment revenues | — |  |  | 187 |  |  | 6,311 |  | (2) | — |  |  | (6,498 | ) |  | — |
Total revenue | $ | 38,300 |  |  | $ | 18,516 |  |  | $ | 6,848 |  |  | $ | 10,528 |  |  | $ | (14,431 | ) |  | $ | 59,761 |
Interest expense | $ | 5,810 |  |  | $ | 4,487 |  |  | $ | — |  |  | $ | 1,956 |  |  | $ | (32 | ) |  | $ | 12,221 |
Payroll expense | 10,070 |  |  | 4,415 |  |  | 5,084 |  |  | 3,514 |  |  | — |  |  | 23,083 |
Professional fee expense | 924 |  |  | 2,182 |  |  | 467 |  |  | 172 |  |  | 169 |  |  | 3,914 |
Other expense | 15,361 |  |  | 2,675 |  |  | 703 |  |  | 4,071 |  |  | (807 | ) |  | 22,003 |
Total expense | 32,165 |  |  | 13,759 |  |  | 6,254 |  |  | 9,713 |  |  | (670 | ) |  | 61,221 |
Segment profit/(loss) | $ | 6,135 |  |  | $ | 4,757 |  |  | $ | 594 |  |  | $ | 815 |  |  | $ | (13,761 | ) |  | $ | (1,460 | )
Net loss attributable to consolidated CLOs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,154 | )
Less: non-controlling interest and net income attributable to the VIE subordinated noteholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (8,636 | )
Discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 926 |
Net income available to common stockholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,096 |
Segment assets as of June 30, 2014 | $ | 5,114,648 |  |  | $ | 396,366 |  |  | $ | 11,879 |  | (3) | $ | 150,844 |  |  | $ | 1,704,894 |  |  | $ | 7,378,631 |
(1) Includes separate account and administrative servicing fees. (2) Includes management fees, which is a component of other income on the Company’s Consolidated Statements of Operations. (3) Refer to Management’s Discussion and Analysis—Economic Net Income Components for further information on assets under management.
| Six months ended June 30, 2013
| Insurance and insurance services |  | Specialty finance |  | Asset management |  | Real estate |  | Corporate eliminations and other |  | Totals
Fee income | $ | 34,906 |  | (1) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 34,906 |
Rental revenue | — |  |  | — |  |  | — |  |  | 7,836 |  |  | (5,920 | ) |  | 1,916 |
Interest income | 2,407 |  |  | 10,728 |  |  | — |  |  | 911 |  |  | (6,832 | ) |  | 7,214 |
Other revenue/ unrealized (loss) | 72 |  |  | (3,836 | ) |  | 211 |  | (2) | 17,608 |  |  | (16,204 | ) |  | (2,149 | )
Intersegment revenues | — |  |  | 164 |  |  | 8,874 |  | (2) | — |  |  | (9,038 | ) |  | — |
Total revenue | $ | 37,385 |  |  | $ | 7,056 |  |  | $ | 9,085 |  |  | $ | 26,355 |  |  | $ | (37,994 | ) |  | $ | 41,887 |
Interest expense | $ | 6,263 |  |  | $ | 1,064 |  |  | $ | — |  |  | $ | 3,362 |  |  | $ | (2,791 | ) |  | $ | 7,898 |
Payroll expense | 9,611 |  |  | 276 |  |  | 6,669 |  |  | 968 |  |  | — |  |  | 17,524 |
Professional fee expense | 659 |  |  | 1,673 |  |  | 431 |  |  | 1,189 |  |  | — |  |  | 3,952 |
Other expense | 14,858 |  |  | 1,245 |  |  | 338 |  |  | 5,706 |  |  | (4,747 | ) |  | 17,400 |
Total expense | 31,391 |  |  | 4,258 |  |  | 7,438 |  |  | 11,225 |  |  | (7,538 | ) |  | 46,774 |
Segment profit/(loss) | $ | 5,994 |  |  | $ | 2,798 |  |  | $ | 1,647 |  |  | $ | 15,130 |  |  | $ | (30,456 | ) |  | $ | (4,887 | )
Net income attributable to consolidated CLOs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 981 |
Less: non-controlling interest and net income attributable to the VIE subordinated noteholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,356 |
Discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 17,110 |
Income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,115 |
Net income available to common stockholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 4,733 |
Segment assets as of December 31, 2013 | $ | 4,949,262 |  |  | $ | 385,987 |  |  | $ | 7,896 |  | (3) | $ | 170,683 |  |  | $ | 1,366,620 |  |  | $ | 6,880,448 |
(1) Includes separate account and administrative servicing fees. (2) Includes management fees, which is a component of other income on the Company’s Consolidated Statements of Operations. (3) Refer to Management’s Discussion and Analysis—Economic Net Income Components for further information on assets under management.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 + Details
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