XML 82 R23.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Subsequent Events | 9 Months Ended
--- | ---
Sep. 30, 2015
Subsequent Events | 16. Subsequent Events On October 29, 2015, Global Indemnity entered into a redemption agreement with certain affiliates of Fox Paine & Company, LLC and agreed to redeem 8,260,870 of its ordinary shares for $190 million in the aggregate from affiliates of Fox Paine & Company, LLC. Global Indemnity also acquired rights, expiring year end 2019, to redeem an additional 3,376,561 Ordinary Shares for $77,660,903, which amount is subject to an annual 3% increase. The Company is in discussions with affiliates of Fox Paine to acquire rights to redeem a further 1,146,716 ordinary shares on the same terms as the 3,376,561 share redemption rights. After giving effect to the share redemptions and regardless of whether or not the additional redemption rights are exercised, affiliates of Fox Paine will continue to have the ability to cast a majority of votes on matters submitted to Global Indemnity shareholders for approval. Had the redemption occurred on or prior to September 30, 2015, outstanding shares would have been 17,472,318 as of September 30, 2015. In connection with the redemption, the Company sold $279.9 million of securities from its consolidated investment portfolio during October, 2015, which resulted in a realized gain of $1.6 million. $102.0 million was used to pay down margin debt, with the remainder being used to fund a portion of the redemption transaction.

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration