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Quarterly Information (unaudited) (Notes) | 12 Months Ended
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Dec. 31, 2015
Quarterly Financial Data [Abstract] |
Quarterly Financial Information (unaudited) |
|  | 2015 |  | 2014
($ in thousands) |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Gross premiums written |  | $ | 1,062 |  |  | $ | (11,192 | ) |  | $ | (8,710 | ) |  | $ | (18,732 | ) |  | $ | (5,766 | ) |  | $ | (45,486 | ) |  | $ | (13,700 | ) |  | $ | (223,358 | )
Net premiums earned |  | 65,718 |  |  | 60,879 |  |  | 71,535 |  |  | 114,463 |  |  | 82,547 |  |  | 65,013 |  |  | 64,831 |  |  | 33,969 |
Net investment income |  | 72,983 |  |  | 64,753 |  |  | 64,195 |  |  | 64,358 |  |  | 70,801 |  |  | 80,093 |  |  | 83,581 |  |  | 66,471 |
Net other than temporary impairment losses |  | (3,119 | ) |  | (1,020 | ) |  | (9,150 | ) |  | (12,370 | ) |  | (10,392 | ) |  | (8,754 | ) |  | (5,011 | ) |  | (1,637 | )
Net realized investment gains |  | 54,101 |  |  | (5,353 | ) |  | 2,106 |  |  | 2,622 |  |  | 16,289 |  |  | 3,067 |  |  | 10,045 |  |  | 29,376 |
Net change in fair value of credit derivatives |  | (2,499 | ) |  | 10,293 |  |  | 36,952 |  |  | (3,045 | ) |  | 7,382 |  |  | (1,219 | ) |  | 7,416 |  |  | 10,327 |
Derivative products revenue |  | (37,774 | ) |  | 50,999 |  |  | (65,083 | ) |  | 9,314 |  |  | (53,841 | ) |  | (47,985 | ) |  | (15,685 | ) |  | (63,576 | )
Net realized gains (losses) on extinguishment of debt |  | (93 | ) |  | (1,246 | ) |  | 1,420 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (74,724 | )
Income (loss) on Variable Interest Entities |  | 6,962 |  |  | 52,603 |  |  | (21,435 | ) |  | (6,561 | ) |  | (5,542 | ) |  | (38,148 | ) |  | 9,116 |  |  | 2,362 |
Loss and loss expenses (benefit) |  | (150,952 | ) |  | (147,477 | ) |  | (133,213 | ) |  | (337,065 | ) |  | (140,011 | ) |  | 175,317 |  |  | (28,698 | ) |  | (552,182 | )
Insurance intangible amortization |  | 37,432 |  |  | 38,088 |  |  | 39,680 |  |  | 54,357 |  |  | 31,714 |  |  | 36,256 |  |  | 41,908 |  |  | 41,952 |
Underwriting and operating expenses |  | 24,523 |  |  | 25,873 |  |  | 25,006 |  |  | 27,300 |  |  | 25,786 |  |  | 24,033 |  |  | 25,513 |  |  | 26,142 |
Interest expense |  | 27,908 |  |  | 28,173 |  |  | 29,899 |  |  | 30,557 |  |  | 32,328 |  |  | 31,953 |  |  | 31,841 |  |  | 31,354 |
Goodwill impairment |  | — |  |  | — |  |  | 514,511 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Reorganization items |  | — |  |  | — |  |  | — |  |  | — |  |  | 23 |  |  | 186 |  |  | 2 |  |  | — |
Pre-tax income (loss) |  | 216,580 |  |  | 286,095 |  |  | (388,193 | ) |  | 395,576 |  |  | 159,298 |  |  | (210,412 | ) |  | 84,773 |  |  | 459,594 |
Net income attributable to Common Shareholders |  | 214,711 |  |  | 282,695 |  |  | (390,987 | ) |  | 386,984 |  |  | 155,942 |  |  | (207,905 | ) |  | 82,450 |  |  | 453,584 |
Net income (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 4.75 |  |  | $ | 6.26 |  |  | $ | (8.66 | ) |  | $ | 8.57 |  |  | $ | 3.46 |  |  | $ | (4.61 | ) |  | $ | 1.83 |  |  | $ | 10.05 |
Diluted |  | $ | 4.57 |  |  | $ | 6.05 |  |  | $ | (8.66 | ) |  | $ | 8.56 |  |  | $ | 3.31 |  |  | $ | (4.61 | ) |  | $ | 1.77 |  |  | $ | 9.73 |

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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