v3.21.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2021
Segment Reporting [Abstract] |
Underwriting results and reconciliation from reportable segments and other's category net income (loss) to consolidated | The following tables summarize the underwriting results of our reportable segments and the reconciliation of our reportable segments' underwriting results to consolidated net income:
For the Three Months Ended June 30, 2021 |  | Diversified Reinsurance |  | AmTrust Reinsurance |  |  |  | Total
Gross premiums written |  | $ | 5,191 |  |  | $ | (1,757) |  |  |  |  | $ | 3,434 |
Net premiums written |  | $ | 5,018 |  |  | $ | (1,757) |  |  |  |  | $ | 3,261 |
Net premiums earned |  | $ | 6,962 |  |  | $ | 6,350 |  |  |  |  | $ | 13,312 |
Other insurance revenue |  | 539 |  |  | — |  |  |  |  | 539 |
Net loss and LAE |  | (1,247) |  |  | 6,574 |  |  |  |  | 5,327 |
Commission and other acquisition expenses |  | (4,452) |  |  | (2,447) |  |  |  |  | (6,899) |
General and administrative expenses |  | (3,033) |  |  | (775) |  |  |  |  | (3,808) |
Underwriting (loss) income |  | $ | (1,231) |  |  | $ | 9,702 |  |  |  |  | 8,471 |
Reconciliation to net income |  |  |  |  |  |  |  |
Net investment income and realized gains on investment |  |  |  |  |  |  |  | 8,127 |
Interest and amortization expenses |  |  |  |  |  |  |  | (4,832) |
Foreign exchange and other losses, net |  |  |  |  |  |  |  | (1,588) |
Other general and administrative expenses |  |  |  |  |  |  |  | (5,098) |
Income tax benefit |  |  |  |  |  |  |  | 257 |
Interest in income of equity method investments |  |  |  |  |  |  |  | 2,775 |
Net income |  |  |  |  |  |  |  | $ | 8,112 |
Net loss and LAE ratio(1) |  | 16.6 | % |  | (103.5) | % |  |  |  | (38.5) | %
Commission and other acquisition expense ratio(2) |  | 59.4 | % |  | 38.5 | % |  |  |  | 49.8 | %
General and administrative expense ratio(3) |  | 40.4 | % |  | 12.2 | % |  |  |  | 64.3 | %
Expense ratio(4) |  | 99.8 | % |  | 50.7 | % |  |  |  | 114.1 | %
Combined ratio(5) |  | 116.4 | % |  | (52.8) | % |  |  |  | 75.6 | %
3. Segment Information (continued)
For the Three Months Ended June 30, 2020 |  | Diversified Reinsurance |  | AmTrust Reinsurance |  |  |  | Total
Gross premiums written |  | $ | 9,687 |  |  | $ | (4,705) |  |  |  |  | $ | 4,982 |
Net premiums written |  | $ | 8,553 |  |  | $ | (4,463) |  |  |  |  | $ | 4,090 |
Net premiums earned |  | $ | 11,527 |  |  | $ | 9,781 |  |  |  |  | $ | 21,308 |
Other insurance revenue |  | 250 |  |  | — |  |  |  |  | 250 |
Net loss and LAE |  | (6,038) |  |  | (4,970) |  |  |  |  | (11,008) |
Commission and other acquisition expenses |  | (4,374) |  |  | (3,780) |  |  |  |  | (8,154) |
General and administrative expenses |  | (1,746) |  |  | (667) |  |  |  |  | (2,413) |
Underwriting (loss) income |  | $ | (381) |  |  | $ | 364 |  |  |  |  | (17) |
Reconciliation to net income |  |  |  |  |  |  |  |
Net investment income and realized gains on investment |  |  |  |  |  |  |  | 23,184 |
Interest and amortization expenses |  |  |  |  |  |  |  | (4,830) |
Foreign exchange and other losses, net |  |  |  |  |  |  |  | (2,295) |
Other general and administrative expenses |  |  |  |  |  |  |  | (6,848) |
Income tax benefit |  |  |  |  |  |  |  | 18 |
Net income |  |  |  |  |  |  |  | $ | 9,212 |
Net loss and LAE ratio(1) |  | 51.3 | % |  | 50.8 | % |  |  |  | 51.0 | %
Commission and other acquisition expense ratio(2) |  | 37.1 | % |  | 38.6 | % |  |  |  | 37.8 | %
General and administrative expense ratio(3) |  | 14.8 | % |  | 6.9 | % |  |  |  | 43.0 | %
Expense ratio(4) |  | 51.9 | % |  | 45.5 | % |  |  |  | 80.8 | %
Combined ratio(5) |  | 103.2 | % |  | 96.3 | % |  |  |  | 131.8 | %
3. Segment Information (continued)
For the Six Months Ended June 30, 2021 |  | Diversified Reinsurance |  | AmTrust Reinsurance |  |  |  | Total
Gross premiums written |  | $ | 5,263 |  |  | $ | (4,219) |  |  |  |  | $ | 1,044 |
Net premiums written |  | $ | 4,784 |  |  | $ | (4,219) |  |  |  |  | $ | 565 |
Net premiums earned |  | $ | 13,202 |  |  | $ | 11,874 |  |  |  |  | $ | 25,076 |
Other insurance revenue |  | 808 |  |  | — |  |  |  |  | 808 |
Net loss and LAE |  | (2,662) |  |  | 5,630 |  |  |  |  | 2,968 |
Commission and other acquisition expenses |  | (8,207) |  |  | (4,634) |  |  |  |  | (12,841) |
General and administrative expenses |  | (4,607) |  |  | (1,378) |  |  |  |  | (5,985) |
Underwriting (loss) income |  | $ | (1,466) |  |  | $ | 11,492 |  |  |  |  | 10,026 |
Reconciliation to net income |  |  |  |  |  |  |  |
Net investment income and realized gains on investment |  |  |  |  |  |  |  | 26,069 |
Interest and amortization expenses |  |  |  |  |  |  |  | (9,663) |
Foreign exchange and other gains, net |  |  |  |  |  |  |  | 1,954 |
Other general and administrative expenses |  |  |  |  |  |  |  | (16,918) |
Income tax benefit |  |  |  |  |  |  |  | 208 |
Interest in income from equity method investments |  |  |  |  |  |  |  | 5,722 |
Net income |  |  |  |  |  |  |  | $ | 17,398 |
Net loss and LAE ratio(1) |  | 19.0 | % |  | (47.4) | % |  |  |  | (11.5) | %
Commission and other acquisition expense ratio(2) |  | 58.6 | % |  | 39.0 | % |  |  |  | 49.6 | %
General and administrative expense ratio(3) |  | 32.9 | % |  | 11.6 | % |  |  |  | 88.5 | %
Expense ratio(4) |  | 91.5 | % |  | 50.6 | % |  |  |  | 138.1 | %
Combined ratio(5) |  | 110.5 | % |  | 3.2 | % |  |  |  | 126.6 | %
3. Segment Information (continued)
For the Six Months Ended June 30, 2020 |  | Diversified Reinsurance |  | AmTrust Reinsurance |  |  |  | Total
Gross premiums written |  | $ | 21,421 |  |  | $ | (4,705) |  |  |  |  | $ | 16,716 |
Net premiums written |  | $ | 18,925 |  |  | $ | (4,463) |  |  |  |  | $ | 14,462 |
Net premiums earned |  | $ | 24,058 |  |  | $ | 28,465 |  |  |  |  | $ | 52,523 |
Other insurance revenue |  | 658 |  |  | — |  |  |  |  | 658 |
Net loss and LAE |  | (13,079) |  |  | (19,015) |  |  |  |  | (32,094) |
Commission and other acquisition expenses |  | (9,353) |  |  | (10,774) |  |  |  |  | (20,127) |
General and administrative expenses |  | (3,359) |  |  | (1,311) |  |  |  |  | (4,670) |
Underwriting loss |  | $ | (1,075) |  |  | $ | (2,635) |  |  |  |  | (3,710) |
Reconciliation to net income |  |  |  |  |  |  |  |
Net investment income and realized gains on investment |  |  |  |  |  |  |  | 52,186 |
Total other-than-temporary impairment losses |  |  |  |  |  |  |  | (1,506) |
Interest and amortization expenses |  |  |  |  |  |  |  | (9,661) |
Foreign exchange and other gains, net |  |  |  |  |  |  |  | 5,902 |
Other general and administrative expenses |  |  |  |  |  |  |  | (13,141) |
Income tax benefit |  |  |  |  |  |  |  | 3 |
Net income |  |  |  |  |  |  |  | $ | 30,073 |
Net loss and LAE ratio(1) |  | 52.9 | % |  | 66.8 | % |  |  |  | 60.4 | %
Commission and other acquisition expense ratio(2) |  | 37.8 | % |  | 37.8 | % |  |  |  | 37.8 | %
General and administrative expense ratio(3) |  | 13.6 | % |  | 4.7 | % |  |  |  | 33.5 | %
Expense ratio(4) |  | 51.4 | % |  | 42.5 | % |  |  |  | 71.3 | %
Combined ratio(5) |  | 104.3 | % |  | 109.3 | % |  |  |  | 131.7 | %
(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.
Reconciliation of assets from reportable segments to consolidated | The following tables summarize the financial position of the Company's reportable segments including the reconciliation to the Company's consolidated total assets at June 30, 2021 and December 31, 2020:
June 30, 2021 |  | Diversified Reinsurance |  | AmTrust Reinsurance |  | Total
Total assets - reportable segments |  | $ | 132,083 |  |  | $ | 2,051,535 |  |  | $ | 2,183,618 |
Corporate assets |  | — |  |  | — |  |  | 423,152 |
Total Assets |  | $ | 132,083 |  |  | $ | 2,051,535 |  |  | $ | 2,606,770 |
December 31, 2020 |  | Diversified Reinsurance |  | AmTrust Reinsurance |  | Total
Total assets - reportable segments |  | $ | 156,380 |  |  | $ | 2,329,377 |  |  | $ | 2,485,757 |
Corporate assets |  | — |  |  | — |  |  | 462,698 |
Total Assets |  | $ | 156,380 |  |  | $ | 2,329,377 |  |  | $ | 2,948,455 |
Net premiums by major line of business | The following tables set forth financial information relating to net premiums written by major line of business and reportable segment for the three and six months ended June 30, 2021 and 2020:
For the Three Months Ended June 30, |  | 2021 |  | 2020
Net premiums written |  | Total |  |  |  | Total |  |
Diversified Reinsurance |  |  |  |  |  |  |  |
International |  | $ | 5,028 |  |  |  |  | $ | 8,498 |  |  |
Other |  | (10) |  |  |  |  | 55 |  |  |
Total Diversified Reinsurance |  | 5,018 |  |  |  |  | 8,553 |  |  |
AmTrust Reinsurance |  |  |  |  |  |  |  |
Small Commercial Business |  | (1,594) |  |  |  |  | (6,394) |  |  |
Specialty Program |  | (4) |  |  |  |  | 477 |  |  |
Specialty Risk and Extended Warranty |  | (159) |  |  |  |  | 1,454 |  |  |
Total AmTrust Reinsurance |  | (1,757) |  |  |  |  | (4,463) |  |  |
Total Net Premiums Written |  | $ | 3,261 |  |  |  |  | $ | 4,090 |  |  |
For the Six Months Ended June 30, |  | 2021 |  | 2020
Net premiums written |  | Total |  |  | Total |  |
Diversified Reinsurance |  |  |  |  |  |  |  |
International |  | $ | 4,784 |  |  |  |  | $ | 18,870 |  |  |
Other |  | — |  |  |  |  | 55 |  |  |
Total Diversified Reinsurance |  | 4,784 |  |  |  |  | 18,925 |  |  |
AmTrust Reinsurance |  |  |  |  |  |  |  |
Small Commercial Business |  | (4,072) |  |  |  |  | (6,394) |  |  |
Specialty Program |  | (29) |  |  |  |  | 477 |  |  |
Specialty Risk and Extended Warranty |  | (118) |  |  |  |  | 1,454 |  |  |
Total AmTrust Reinsurance |  | (4,219) |  |  |  |  | (4,463) |  |  |
Total Net Premiums Written |  | $ | 565 |  |  |  |  | $ | 14,462 |  |  |
3. Segment Information (continued) The following tables set forth financial information relating to net premiums earned by major line of business and reportable segment for the three and six months ended June 30, 2021 and 2020:
For the Three Months Ended June 30, |  | 2021 |  | 2020
Net premiums earned |  | Total | % of Total |  | Total |  | % of Total
Diversified Reinsurance |  |  |  |  |  |  |  |
International |  | $ | 6,972 |  |  | 52.4 | % |  | $ | 11,472 |  |  | 53.8 | %
Other |  | (10) |  |  | (0.1) | % |  | 55 |  |  | 0.3 | %
Total Diversified Reinsurance |  | 6,962 |  |  | 52.3 | % |  | 11,527 |  |  | 54.1 | %
AmTrust Reinsurance |  |  |  |  |  |  |  |
Small Commercial Business |  | (1,495) |  |  | (11.2) | % |  | (7,112) |  |  | (33.4) | %
Specialty Program |  | 2 |  |  | — | % |  | 426 |  |  | 2.0 | %
Specialty Risk and Extended Warranty |  | 7,843 |  |  | 58.9 | % |  | 16,467 |  |  | 77.3 | %
Total AmTrust Reinsurance |  | 6,350 |  |  | 47.7 | % |  | 9,781 |  |  | 45.9 | %
Total Net Premiums Earned |  | $ | 13,312 |  |  | 100.0 | % |  | $ | 21,308 |  |  | 100.0 | %
For the Six Months Ended June 30, |  | 2021 |  | 2020
Net premiums earned |  | Total | % of Total |  | Total |  | % of Total
Diversified Reinsurance |  |  |  |  |  |  |  |
International |  | $ | 13,202 |  |  | 52.6 | % |  | $ | 24,003 |  |  | 45.7 | %
Other |  | — |  |  | — | % |  | 55 |  |  | 0.1 | %
Total Diversified Reinsurance |  | 13,202 |  |  | 52.6 | % |  | 24,058 |  |  | 45.8 | %
AmTrust Reinsurance |  |  |  |  |  |  |  |
Small Commercial Business |  | (3,846) |  |  | (15.3) | % |  | (6,173) |  |  | (11.8) | %
Specialty Program |  | (16) |  |  | (0.1) | % |  | 501 |  |  | 1.0 | %
Specialty Risk and Extended Warranty |  | 15,736 |  |  | 62.8 | % |  | 34,137 |  |  | 65.0 | %
Total AmTrust Reinsurance |  | 11,874 |  |  | 47.4 | % |  | 28,465 |  |  | 54.2 | %
Total Net Premiums Earned |  | $ | 25,076 |  |  | 100.0 | % |  | $ | 52,523 |  |  | 100.0 | %

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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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