v3.8.0.1

Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2017
Segment Reporting [Abstract] |
Underwriting results of operating segments | The following tables summarize our reporting segment's underwriting results and the reconciliation of our reportable segments and Other category's underwriting results to our consolidated net income:
For the Three Months Ended September 30, 2017 |  | Diversified Reinsurance |  | AmTrust Reinsurance |  | Other |  | Total
Gross premiums written |  | $ | 210,953 |  |  | $ | 420,019 |  |  | $ | — |  |  | $ | 630,972 |
Net premiums written |  | $ | 207,137 |  |  | $ | 410,193 |  |  | $ | — |  |  | $ | 617,330 |
Net premiums earned |  | $ | 217,513 |  |  | $ | 436,353 |  |  | $ | — |  |  | $ | 653,866 |
Other insurance revenue |  | 2,488 |  |  | — |  |  | — |  |  | 2,488 |
Net loss and loss adjustment expense ("loss and LAE") |  | (172,273 | ) |  | (355,030 | ) |  | (8,665 | ) |  | (535,968 | )
Commission and other acquisition expenses |  | (54,810 | ) |  | (138,650 | ) |  | (2 | ) |  | (193,462 | )
General and administrative expenses |  | (8,595 | ) |  | (771 | ) |  | — |  |  | (9,366 | )
Underwriting loss |  | $ | (15,677 | ) |  | $ | (58,098 | ) |  | $ | (8,667 | ) |  | (82,442 | )
Reconciliation to net loss |  |  |  |  |  |  |  |
Net investment income and net realized gains on investment |  |  |  |  |  |  |  | 46,682 |
Interest and amortization expenses |  |  |  |  |  |  |  | (4,829 | )
Amortization of intangible assets |  |  |  |  |  |  |  | (533 | )
Foreign exchange losses |  |  |  |  |  |  |  | (3,550 | )
Other general and administrative expenses |  |  |  |  |  |  |  | (10,126 | )
Income tax expense |  |  |  |  |  |  |  | (256 | )
Net loss |  |  |  |  |  |  |  | $ | (55,054 | )
Net loss and LAE ratio(1) |  | 78.3 | % |  | 81.4 | % |  |  |  | 81.6 | %
Commission and other acquisition expense ratio(2) |  | 24.9 | % |  | 31.7 | % |  |  |  | 29.5 | %
General and administrative expense ratio(3) |  | 3.9 | % |  | 0.2 | % |  |  |  | 3.0 | %
Expense ratio(4) |  | 28.8 | % |  | 31.9 | % |  |  |  | 32.5 | %
Combined ratio(5) |  | 107.1 | % |  | 113.3 | % |  |  |  | 114.1 | %
3. Segment Information (continued)
For the Three Months Ended September 30, 2016 |  | Diversified Reinsurance |  | AmTrust Reinsurance |  | Other |  | Total
Gross premiums written |  | $ | 186,750 |  |  | $ | 520,104 |  |  | $ | — |  |  | $ | 706,854 |
Net premiums written |  | $ | 179,092 |  |  | $ | 511,561 |  |  | $ | — |  |  | $ | 690,653 |
Net premiums earned |  | $ | 175,141 |  |  | $ | 523,137 |  |  | $ | — |  |  | $ | 698,278 |
Other insurance revenue |  | 2,345 |  |  | — |  |  | — |  |  | 2,345 |
Net loss and LAE |  | (132,396 | ) |  | (334,310 | ) |  | (45 | ) |  | (466,751 | )
Commission and other acquisition expenses |  | (39,868 | ) |  | (166,836 | ) |  | (2 | ) |  | (206,706 | )
General and administrative expenses |  | (9,038 | ) |  | (759 | ) |  | — |  |  | (9,797 | )
Underwriting (loss) income |  | $ | (3,816 | ) |  | $ | 21,232 |  |  | $ | (47 | ) |  | 17,369 |
Reconciliation to net income |  |  |  |  |  |  |  |
Net investment income and net realized gains on investment |  |  |  |  |  |  |  | 37,566 |
Interest and amortization expenses |  |  |  |  |  |  |  | (6,856 | )
Amortization of intangible assets |  |  |  |  |  |  |  | (616 | )
Foreign exchange gains |  |  |  |  |  |  |  | 687 |
Other general and administrative expenses |  |  |  |  |  |  |  | (7,155 | )
Income tax expense |  |  |  |  |  |  |  | (199 | )
Net income |  |  |  |  |  |  |  | $ | 40,796 |
Net loss and LAE ratio(1) |  | 74.6 | % |  | 63.9 | % |  |  |  | 66.6 | %
Commission and other acquisition expense ratio(2) |  | 22.5 | % |  | 31.9 | % |  |  |  | 29.5 | %
General and administrative expense ratio(3) |  | 5.1 | % |  | 0.1 | % |  |  |  | 2.4 | %
Expense ratio(4) |  | 27.6 | % |  | 32.0 | % |  |  |  | 31.9 | %
Combined ratio(5) |  | 102.2 | % |  | 95.9 | % |  |  |  | 98.5 | %
3. Segment Information (continued)
For the Nine Months Ended September 30, 2017 |  | Diversified Reinsurance |  | AmTrust Reinsurance |  | Other |  | Total
Gross premiums written |  | $ | 683,839 |  |  | $ | 1,575,677 |  |  | $ | 81 |  |  | $ | 2,259,597 |
Net premiums written |  | $ | 671,880 |  |  | $ | 1,529,980 |  |  | $ | 90 |  |  | $ | 2,201,950 |
Net premiums earned |  | $ | 623,574 |  |  | $ | 1,450,811 |  |  | $ | 90 |  |  | $ | 2,074,475 |
Other insurance revenue |  | 7,816 |  |  | — |  |  | — |  |  | 7,816 |
Net loss and LAE |  | (487,759 | ) |  | (1,047,222 | ) |  | (10,176 | ) |  | (1,545,157 | )
Commission and other acquisition expenses |  | (159,744 | ) |  | (465,789 | ) |  | 3 |  |  | (625,530 | )
General and administrative expenses |  | (25,819 | ) |  | (2,240 | ) |  | — |  |  | (28,059 | )
Underwriting loss |  | $ | (41,932 | ) |  | $ | (64,440 | ) |  | $ | (10,083 | ) |  | (116,455 | )
Reconciliation to net loss |  |  |  |  |  |  |  |
Net investment income and net realized gains on investment |  |  |  |  |  |  |  | 131,808 |
Interest and amortization expenses |  |  |  |  |  |  |  | (18,430 | )
Accelerated amortization of senior note issuance cost |  |  |  |  |  |  |  | (2,809 | )
Amortization of intangible assets |  |  |  |  |  |  |  | (1,599 | )
Foreign exchange losses |  |  |  |  |  |  |  | (12,193 | )
Other general and administrative expenses |  |  |  |  |  |  |  | (24,193 | )
Income tax expense |  |  |  |  |  |  |  | (1,017 | )
Net loss |  |  |  |  |  |  |  | $ | (44,888 | )
Net loss and LAE ratio(1) |  | 77.2 | % |  | 72.2 | % |  |  |  | 74.2 | %
Commission and other acquisition expense ratio(2) |  | 25.3 | % |  | 32.1 | % |  |  |  | 30.0 | %
General and administrative expense ratio(3) |  | 4.1 | % |  | 0.1 | % |  |  |  | 2.5 | %
Expense ratio(4) |  | 29.4 | % |  | 32.2 | % |  |  |  | 32.5 | %
Combined ratio(5) |  | 106.6 | % |  | 104.4 | % |  |  |  | 106.7 | %
3. Segment Information (continued)
For the Nine Months Ended September 30, 2016 |  | Diversified Reinsurance |  | AmTrust Reinsurance |  | Other |  | Total
Gross premiums written |  | $ | 667,388 |  |  | $ | 1,591,902 |  |  | $ | — |  |  | $ | 2,259,290 |
Net premiums written |  | $ | 626,522 |  |  | $ | 1,507,389 |  |  | $ | — |  |  | $ | 2,133,911 |
Net premiums earned |  | $ | 538,152 |  |  | $ | 1,413,699 |  |  | $ | — |  |  | $ | 1,951,851 |
Other insurance revenue |  | 8,696 |  |  | — |  |  | — |  |  | 8,696 |
Net loss and LAE |  | (395,718 | ) |  | (898,703 | ) |  | (2,940 | ) |  | (1,297,361 | )
Commission and other acquisition expenses |  | (139,895 | ) |  | (447,604 | ) |  | (2 | ) |  | (587,501 | )
General and administrative expenses |  | (26,717 | ) |  | (2,308 | ) |  | — |  |  | (29,025 | )
Underwriting (loss) income |  | $ | (15,482 | ) |  | $ | 65,084 |  |  | $ | (2,942 | ) |  | 46,660 |
Reconciliation to net income |  |  |  |  |  |  |  |
Net investment income and net realized gains on investment |  |  |  |  |  |  |  | 111,802 |
Interest and amortization expenses |  |  |  |  |  |  |  | (21,314 | )
Accelerated amortization of senior note issuance cost |  |  |  |  |  |  |  | (2,345 | )
Amortization of intangible assets |  |  |  |  |  |  |  | (1,846 | )
Foreign exchange gains |  |  |  |  |  |  |  | 6,474 |
Other general and administrative expenses |  |  |  |  |  |  |  | (20,713 | )
Income tax expense |  |  |  |  |  |  |  | (1,206 | )
Net income |  |  |  |  |  |  |  | $ | 117,512 |
Net loss and LAE ratio(1) |  | 72.4 | % |  | 63.5 | % |  |  |  | 66.2 | %
Commission and other acquisition expense ratio(2) |  | 25.6 | % |  | 31.7 | % |  |  |  | 30.0 | %
General and administrative expense ratio(3) |  | 4.8 | % |  | 0.2 | % |  |  |  | 2.5 | %
Expense ratio(4) |  | 30.4 | % |  | 31.9 | % |  |  |  | 32.5 | %
Combined ratio(5) |  | 102.8 | % |  | 95.4 | % |  |  |  | 98.7 | %
(1) | Calculated by dividing net loss and LAE by the sum of net premiums earned and other insurance revenue.
(2) | Calculated by dividing commission and other acquisition expenses by the sum of net premiums earned and other insurance revenue.
(3) | Calculated by dividing general and administrative expenses by the sum of net premiums earned and other insurance revenue.
(4) | Calculated by adding together the commission and other acquisition expense ratio and general and administrative expense ratio.
(5) | Calculated by adding together net loss and LAE ratio and the expense ratio.
The following tables summarize the financial position of our reportable segments including the reconciliation to our consolidated assets at September 30, 2017 and December 31, 2016:
September 30, 2017 |  | Diversified Reinsurance |  | AmTrust Reinsurance |  | Total
Total assets - reportable segments |  | $ | 1,898,036 |  |  | $ | 4,362,008 |  |  | $ | 6,260,044 |
Corporate assets |  | — |  |  | — |  |  | 579,053 |
Total Assets |  | $ | 1,898,036 |  |  | $ | 4,362,008 |  |  | $ | 6,839,097 |
December 31, 2016 |  | Diversified Reinsurance |  | AmTrust Reinsurance |  | Total
Total assets - reportable segments |  | $ | 1,787,320 |  |  | $ | 3,900,067 |  |  | $ | 5,687,387 |
Corporate assets |  | — |  |  | — |  |  | 564,912 |
Total Assets |  | $ | 1,787,320 |  |  | $ | 3,900,067 |  |  | $ | 6,252,299 |
Net premiums by major line of business | The following table sets forth financial information relating to net premiums written by major line of business and reportable segment for the three and nine months ended September 30, 2017 and 2016:
For the Three Months Ended September 30, |  | 2017 |  | 2016
|  | Total |  | % of Total |  | Total |  | % of Total
Net premiums written |  |  |  |  |  |  |  |
Diversified Reinsurance |  |  |  |  |  |  |  |
Property |  | $ | 37,962 |  |  | 6.2 | % |  | $ | 30,606 |  |  | 4.4 | %
Casualty |  | 129,726 |  |  | 21.0 | % |  | 115,360 |  |  | 16.7 | %
Accident and Health |  | 16,946 |  |  | 2.7 | % |  | 14,845 |  |  | 2.2 | %
International |  | 22,503 |  |  | 3.7 | % |  | 18,281 |  |  | 2.6 | %
Total Diversified Reinsurance |  | 207,137 |  |  | 33.6 | % |  | 179,092 |  |  | 25.9 | %
AmTrust Reinsurance |  |  |  |  |  |  |  |
Small Commercial Business |  | 295,499 |  |  | 47.9 | % |  | 314,677 |  |  | 45.6 | %
Specialty Program |  | 63,816 |  |  | 10.3 | % |  | 98,895 |  |  | 14.3 | %
Specialty Risk and Extended Warranty |  | 50,878 |  |  | 8.2 | % |  | 97,989 |  |  | 14.2 | %
Total AmTrust Reinsurance |  | 410,193 |  |  | 66.4 | % |  | 511,561 |  |  | 74.1 | %
Total Net Premiums Written |  | $ | 617,330 |  |  | 100.0 | % |  | $ | 690,653 |  |  | 100.0 | %
For the Nine Months Ended September 30, |  | 2017 |  | 2016
|  | Total |  | % of Total |  | Total |  | % of Total
Net premiums written |  |  |  |  |  |  |  |
Diversified Reinsurance |  |  |  |  |  |  |  |
Property |  | $ | 132,398 |  |  | 6.0 | % |  | $ | 123,991 |  |  | 5.8 | %
Casualty |  | 391,503 |  |  | 17.8 | % |  | 365,332 |  |  | 17.1 | %
Accident and Health |  | 74,504 |  |  | 3.4 | % |  | 68,140 |  |  | 3.2 | %
International |  | 73,475 |  |  | 3.3 | % |  | 69,059 |  |  | 3.2 | %
Total Diversified Reinsurance |  | 671,880 |  |  | 30.5 | % |  | 626,522 |  |  | 29.3 | %
AmTrust Reinsurance |  |  |  |  |  |  |  |
Small Commercial Business |  | 1,028,905 |  |  | 46.7 | % |  | 983,601 |  |  | 46.1 | %
Specialty Program |  | 255,767 |  |  | 11.6 | % |  | 268,193 |  |  | 12.6 | %
Specialty Risk and Extended Warranty |  | 245,308 |  |  | 11.2 | % |  | 255,595 |  |  | 12.0 | %
Total AmTrust Reinsurance |  | 1,529,980 |  |  | 69.5 | % |  | 1,507,389 |  |  | 70.7 | %
Other |  | 90 |  |  | — | % |  | — |  |  | — | %
Total Net Premiums Written |  | $ | 2,201,950 |  |  | 100.0 | % |  | $ | 2,133,911 |  |  | 100.0 | %
3. Segment Information (continued) The following table sets forth financial information relating to net premiums earned by major line of business and reportable segment for the three and nine months ended September 30, 2017 and 2016:
For the Three Months Ended September 30, |  | 2017 |  | 2016
|  | Total |  | % of Total |  | Total |  | % of Total
Net premiums earned |  |  |  |  |  |  |  |
Diversified Reinsurance |  |  |  |  |  |  |  |
Property |  | $ | 43,362 |  |  | 6.6 | % |  | $ | 29,921 |  |  | 4.3 | %
Casualty |  | 130,428 |  |  | 20.0 | % |  | 105,893 |  |  | 15.2 | %
Accident and Health |  | 22,780 |  |  | 3.5 | % |  | 18,436 |  |  | 2.6 | %
International |  | 20,943 |  |  | 3.2 | % |  | 20,891 |  |  | 3.0 | %
Total Diversified Reinsurance |  | 217,513 |  |  | 33.3 | % |  | 175,141 |  |  | 25.1 | %
AmTrust Reinsurance |  |  |  |  |  |  |  |
Small Commercial Business |  | 314,773 |  |  | 48.1 | % |  | 320,596 |  |  | 45.9 | %
Specialty Program |  | 59,143 |  |  | 9.1 | % |  | 89,856 |  |  | 12.9 | %
Specialty Risk and Extended Warranty |  | 62,437 |  |  | 9.5 | % |  | 112,685 |  |  | 16.1 | %
Total AmTrust Reinsurance |  | 436,353 |  |  | 66.7 | % |  | 523,137 |  |  | 74.9 | %
Total Net Premiums Earned |  | $ | 653,866 |  |  | 100.0 | % |  | $ | 698,278 |  |  | 100.0 | %
For the Nine Months Ended September 30, |  | 2017 |  | 2016
|  | Total |  | % of Total |  | Total |  | % of Total
Net premiums earned |  |  |  |  |  |  |  |
Diversified Reinsurance |  |  |  |  |  |  |  |
Property |  | $ | 122,888 |  |  | 5.9 | % |  | $ | 103,023 |  |  | 5.3 | %
Casualty |  | 375,141 |  |  | 18.1 | % |  | 313,736 |  |  | 16.1 | %
Accident and Health |  | 63,878 |  |  | 3.1 | % |  | 55,788 |  |  | 2.8 | %
International |  | 61,667 |  |  | 3.0 | % |  | 65,605 |  |  | 3.4 | %
Total Diversified Reinsurance |  | 623,574 |  |  | 30.1 | % |  | 538,152 |  |  | 27.6 | %
AmTrust Reinsurance |  |  |  |  |  |  |  |
Small Commercial Business |  | 946,782 |  |  | 45.6 | % |  | 864,699 |  |  | 44.3 | %
Specialty Program |  | 251,153 |  |  | 12.1 | % |  | 251,543 |  |  | 12.9 | %
Specialty Risk and Extended Warranty |  | 252,876 |  |  | 12.2 | % |  | 297,457 |  |  | 15.2 | %
Total AmTrust Reinsurance |  | 1,450,811 |  |  | 69.9 | % |  | 1,413,699 |  |  | 72.4 | %
Other |  | 90 |  |  | — | % |  | — |  |  | — | %
Total Net Premiums Earned |  | $ | 2,074,475 |  |  | 100.0 | % |  | $ | 1,951,851 |  |  | 100.0 | %

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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 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 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=68060357&loc=d3e8813-108599 Reference 3: 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=68060357&loc=d3e8721-108599 Reference 4: 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=35741047&loc=d3e13816-109267 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=68060357&loc=d3e8736-108599 + Details
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