The Company currently has two reportable segments: Diversified Reinsurance and AmTrust Reinsurance. Our Diversified Reinsurance segment consists of a portfolio of predominantly property and casualty reinsurance business focusing on regional and specialty property and casualty insurance companies located primarily in Europe. Our AmTrust Reinsurance segment includes all business ceded to our wholly owned subsidiary, Maiden Bermuda, from AmTrust, primarily the AmTrust Quota Share and the European Hospital Liability Quota Share. In addition to our reportable segments, the results of operations of the former NGHC Quota Share segment have been included in the "Other" category. Please refer to "Note 8. Related Party Transactions" for additional information.

As a result of the strategic decision to divest all of the Company's U.S. treaty reinsurance operations as discussed in "Note 1. Basis of Presentation" and "Note 6. Discontinued Operations", the Company revised the composition of its reportable segments. Previously, the underwriting results associated with the discontinued operations of the Company's U.S. treaty reinsurance business were included within the Diversified Reinsurance segment and the operating results associated with the remnants of the U.S. excess and surplus business were included within the Other category. These are now excluded and all prior periods presented have been reclassified to conform to this new presentation.

The Company evaluates segment performance based on segment profit separately from the results of our investment portfolio. General and administrative expenses are allocated to the segments on an actual basis except salaries and benefits where management’s judgment is applied. The Company does not allocate general corporate expenses to the segments. In determining total assets by reportable segment, the Company identifies those assets that are attributable to a particular segment such as reinsurance balances receivable, deferred commission and other acquisition expenses, funds withheld receivable, loans and restricted cash and cash equivalents and investments. All remaining assets are allocated to Corporate.

As discussed in "Note 1. Basis of Presentation" and "Note 8. Related Party Transactions", the Partial Termination Amendment and the termination of the remaining business with AmTrust effective January 1, 2019 resulted in a significant reduction in gross premiums written. This was due to the return of unearned premium on certain lines covered by the Partial Termination Agreement, with no new business written in 2019 due to the termination of the remaining business within the AmTrust Quota Share and the European Hospital Liability Quota Share. 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 (loss) income from continuing operations:



For the Three Months Ended June 30, 2019	Diversified Reinsurance			AmTrust Reinsurance			Other		Total
Gross premiums written	$	11,244		$	(9,127	)	$	—	$	2,117
Net premiums written	$	8,718		$	(9,127	)	$	—	$	(409	)
Net premiums earned	$	22,472		$	111,514		$	—	$	133,986
Other insurance revenue	754			—			—		754
Net loss and loss adjustment expenses ("loss and LAE")	(12,497		)	(109,088		)	24		(121,561		)
Commission and other acquisition expenses	(8,147		)	(41,509		)	—		(49,656		)
General and administrative expenses	(2,092		)	(562		)	—		(2,654		)
Underwriting income (loss)	$	490		$	(39,645	)	$	24	(39,131		)
Reconciliation to net income from continuing operations
Net investment income and realized gains on investment									55,208
Interest and amortization expenses									(4,830		)
Foreign exchange and other gains									1,207
Other general and administrative expenses									(10,195		)
Income tax benefit									1,026
Net income from continuing operations									$	3,285

Net loss and LAE ratio⁽¹⁾	53.8		%	97.8		%			90.2		%
Commission and other acquisition expense ratio⁽²⁾	35.1		%	37.2		%			36.9		%
General and administrative expense ratio⁽³⁾	9.0		%	0.5		%			9.5		%
Expense ratio⁽⁴⁾	44.1		%	37.7		%			46.4		%
Combined ratio⁽⁵⁾	97.9		%	135.5		%			136.6		%



For the Three Months Ended June 30, 2018	Diversified Reinsurance			AmTrust Reinsurance			Other		Total
Gross premiums written	$	30,041		$	491,485		$	—	$	521,526
Net premiums written	$	29,717		$	491,311		$	—	$	521,028
Net premiums earned	$	28,539		$	475,849		$	—	$	504,388
Other insurance revenue	2,033			—			—		2,033
Net loss and LAE	(16,165		)	(353,836		)	—		(370,001		)
Commission and other acquisition expenses	(9,988		)	(152,792		)	—		(162,780		)
General and administrative expenses	(4,593		)	(1,082		)	—		(5,675		)
Underwriting loss	$	(174	)	$	(31,861	)	$	—	(32,035		)
Reconciliation to net loss from continuing operations
Net investment income and realized losses on investment									33,846
Interest and amortization expenses									(4,829		)
Foreign exchange gains									4,821
Other general and administrative expenses									(9,185		)
Income tax benefit									1,847
Net loss from continuing operations									$	(5,535	)

Net loss and LAE ratio⁽¹⁾	52.9		%	74.4		%			73.1		%
Commission and other acquisition expense ratio⁽²⁾	32.7		%	32.1		%			32.1		%
General and administrative expense ratio⁽³⁾	15.0		%	0.2		%			2.9		%
Expense ratio⁽⁴⁾	47.7		%	32.3		%			35.0		%
Combined ratio⁽⁵⁾	100.6		%	106.7		%			108.1		%



For the Six Months Ended June 30, 2019	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	26,582		$	(585,604	)	$	—		$	(559,022	)
Net premiums written	$	23,665		$	(585,604	)	$	—		$	(561,939	)
Net premiums earned	$	47,764		$	269,324		$	—		$	317,088
Other insurance revenue	1,504			—			—			1,504
Net loss and LAE	(26,888		)	(247,158		)	(204		)	(274,250		)
Commission and other acquisition expenses	(17,408		)	(101,865		)	—			(119,273		)
General and administrative expenses	(5,123		)	(1,828		)	—			(6,951		)
Underwriting loss	$	(151	)	$	(81,527	)	$	(204	)	(81,882		)
Reconciliation to net loss from continuing operations
Net investment income and realized gains on investment										76,129
Interest and amortization expenses										(9,659		)
Foreign exchange and other gains										6,186
Other general and administrative expenses										(21,837		)
Income tax benefit										1,064
Net loss from continuing operations										$	(29,999	)

Net loss and LAE ratio⁽¹⁾	54.6		%	91.8		%				86.1		%
Commission and other acquisition expense ratio⁽²⁾	35.3		%	37.8		%				37.5		%
General and administrative expense ratio⁽³⁾	10.4		%	0.7		%				9.0		%
Expense ratio⁽⁴⁾	45.7		%	38.5		%				46.5		%
Combined ratio⁽⁵⁾	100.3		%	130.3		%				132.6		%



For the Six Months Ended June 30, 2018	Diversified Reinsurance			AmTrust Reinsurance			Other		Total
Gross premiums written	$	79,441		$	1,065,413		$	—	$	1,144,854
Net premiums written	$	77,988		$	1,065,691		$	—	$	1,143,679
Net premiums earned	$	54,054		$	967,147		$	—	$	1,021,201
Other insurance revenue	5,759			—			—		5,759
Net loss and LAE	(32,064		)	(691,143		)	—		(723,207		)
Commission and other acquisition expenses	(19,300		)	(310,108		)	—		(329,408		)
General and administrative expenses	(9,074		)	(2,002		)	—		(11,076		)
Underwriting loss	$	(625	)	$	(36,106	)	$	—	(36,731		)
Reconciliation to net income from continuing operations
Net investment income and realized losses on investment									67,072
Interest and amortization expenses									(9,658		)
Foreign exchange gains									2,414
Other general and administrative expenses									(19,455		)
Income tax benefit									3,171
Net income from continuing operations									$	6,813

Net loss and LAE ratio⁽¹⁾	53.6		%	71.4		%			70.4		%
Commission and other acquisition expense ratio⁽²⁾	32.2		%	32.1		%			32.1		%
General and administrative expense ratio⁽³⁾	15.2		%	0.2		%			3.0		%
Expense ratio⁽⁴⁾	47.4		%	32.3		%			35.1		%
Combined ratio⁽⁵⁾	101.0		%	103.7		%			105.5		%



June 30, 2019	Diversified Reinsurance		AmTrust Reinsurance		Total
Total assets - reportable segments	$	180,370	$	3,720,416	$	3,900,786
Corporate assets	—		—		631,761
Assets held for sale	—		—		66,009
Total Assets	$	180,370	$	3,720,416	$	4,598,556

December 31, 2018	Diversified Reinsurance		AmTrust Reinsurance		Total
Total assets - reportable segments	$	190,437	$	4,495,740	$	4,686,177
Corporate assets	—		—		426,808
Assets held for sale	—		—		174,475
Total Assets	$	190,437	$	4,495,740	$	5,287,460



For the Three Months Ended June 30,	2019			2018
Net premiums written	Total			Total
Diversified Reinsurance
International	$	8,718		$	29,717
Total Diversified Reinsurance	8,718			29,717
AmTrust Reinsurance
Small Commercial Business	5,515			279,486
Specialty Program	(16,031		)	103,196
Specialty Risk and Extended Warranty	1,389			108,629
Total AmTrust Reinsurance	(9,127		)	491,311
Total Net Premiums Written	$	(409	)	$	521,028



For the Six Months Ended June 30,	2019			2018
Net premiums written	Total			Total
Diversified Reinsurance
International	$	23,665		$	77,947
Other	—			41
Total Diversified Reinsurance	23,665			77,988
AmTrust Reinsurance
Small Commercial Business	(337,166		)	647,240
Specialty Program	(28,639		)	192,327
Specialty Risk and Extended Warranty	(219,799		)	226,124
Total AmTrust Reinsurance	(585,604		)	1,065,691
Total Net Premiums Written	$	(561,939	)	$	1,143,679



For the Three Months Ended June 30,	2019		2018
Net premiums earned	Total		Total
Diversified Reinsurance
International	$	22,472	$	28,539
Other	—		—
Total Diversified Reinsurance	22,472		28,539
AmTrust Reinsurance
Small Commercial Business	23,283		293,514
Specialty Program	30,326		96,739
Specialty Risk and Extended Warranty	57,905		85,596
Total AmTrust Reinsurance	111,514		475,849
Total Net Premiums Earned	$	133,986	$	504,388



For the Six Months Ended June 30,	2019		2018
Net premiums earned	Total		Total
Diversified Reinsurance
International	$	47,764	$	54,013
Other	—		41
Total Diversified Reinsurance	47,764		54,054
AmTrust Reinsurance
Small Commercial Business	62,738		609,223
Specialty Program	106,547		185,233
Specialty Risk and Extended Warranty	100,039		172,691
Total AmTrust Reinsurance	269,324		967,147
Total Net Premiums Earned	$	317,088	$	1,021,201