The following tables summarize the Company's segment disclosures.



	Quarter Ended June 30, 2016
(dollars in thousands)	U.S. Insurance			International Insurance			Reinsurance			Other Insurance (Discontinued Lines)				Investing		Consolidated
Gross premium volume	$	689,468		$	318,581		$	269,604		$	(4	)		$	—	$	1,277,649
Net written premiums	579,233			244,636			226,681			(4		)		—		1,050,546

Earned premiums	533,328			203,052			214,514			(35		)		—		950,859
Losses and loss adjustment expenses:
Current accident year	(352,092		)	(146,453		)	(152,693		)	—				—		(651,238		)
Prior accident years	66,332			39,002			34,644			(296		)		—		139,682
Underwriting, acquisition and insurance expenses	(212,915		)	(96,562		)	(66,143		)	40				—		(375,580		)
Underwriting profit (loss)	34,653			(961		)	30,322			(291		)		—		63,723
Net investment income	—			—			—			—				94,996		94,996
Net realized investment gains	—			—			—			—				17,241		17,241
Other revenues (insurance)	958			609			—			446				—		2,013
Other expenses (insurance)	(684		)	(2,137		)	—			(7,199		)		—		(10,020		)
Segment profit (loss)	$	34,927		$	(2,489	)	$	30,322		$	(7,044	)		$	112,237	$	167,953
Other revenues (non-insurance)																310,828
Other expenses (non-insurance)																(267,889		)
Amortization of intangible assets																(17,204		)
Interest expense																(33,697		)
Loss on early extinguishment of debt																(44,100		)
Income before income taxes																$	115,891
U.S. GAAP combined ratio ⁽¹⁾	94		%	100		%	86		%	NM			⁽²⁾			93		%



	Quarter Ended June 30, 2015
(dollars in thousands)	U.S. Insurance			International Insurance			Reinsurance			Other Insurance (Discontinued Lines)				Investing		Consolidated
Gross premium volume	$	668,853		$	338,159		$	258,745		$	29			$	—	$	1,265,786
Net written premiums	554,638			264,129			215,520			57				—		1,034,344

Earned premiums	520,446			223,941			213,140			30				—		957,557
Losses and loss adjustment expenses:
Current accident year	(341,335		)	(168,896		)	(154,623		)	—				—		(664,854		)
Prior accident years	68,620			43,373			15,118			1,549				—		128,660
Underwriting, acquisition and insurance expenses	(211,856		)	(94,617		)	(73,170		)	(9		)		—		(379,652		)
Underwriting profit	35,875			3,801			465			1,570				—		41,711
Net investment income	—			—			—			—				90,586		90,586
Net realized investment gains	—			—			—			—				6,105		6,105
Other revenues (insurance)	2,203			915			469			350				—		3,937
Other expenses (insurance)	(1,284		)	(1,318		)	—			(3,348		)		—		(5,950		)
Segment profit (loss)	$	36,794		$	3,398		$	934		$	(1,428	)		$	96,691	$	136,389
Other revenues (non-insurance)																246,420
Other expenses (non-insurance)																(236,286		)
Amortization of intangible assets																(16,949		)
Interest expense																(29,288		)
Income before income taxes																$	100,286
U.S. GAAP combined ratio ⁽¹⁾	93		%	98		%	100		%	NM			⁽²⁾			96		%


⁽¹⁾	The U.S. GAAP combined ratio is a measure of underwriting performance and represents the relationship of incurred losses, loss adjustment expenses and underwriting, acquisition and insurance expenses to earned premiums.


⁽²⁾	NM – Ratio is not meaningful.



	Six Months Ended June 30, 2016
(dollars in thousands)	U.S. Insurance			International Insurance			Reinsurance			Other Insurance (Discontinued Lines)				Investing		Consolidated
Gross premium volume	$	1,337,258		$	609,985		$	723,090		$	(21	)		$	—	$	2,670,312
Net written premiums	1,131,978			471,035			629,407			86				—		2,232,506

Earned premiums	1,065,796			418,397			424,133			219				—		1,908,545
Losses and loss adjustment expenses:
Current accident year	(668,425		)	(291,929		)	(283,169		)	—				—		(1,243,523		)
Prior accident years	104,986			68,654			71,005			13,358				—		258,003
Underwriting, acquisition and insurance expenses	(410,378		)	(185,168		)	(144,648		)	(74		)		—		(740,268		)
Underwriting profit	91,979			9,954			67,321			13,503				—		182,757
Net investment income	—			—			—			—				186,290		186,290
Net realized investment gains	—			—			—			—				38,420		38,420
Other revenues (insurance)	2,377			4,730			—			941				—		8,048
Other expenses (insurance)	(1,408		)	(3,691		)	—			(15,200		)		—		(20,299		)
Segment profit (loss)	$	92,948		$	10,993		$	67,321		$	(756	)		$	224,710	$	395,216
Other revenues (non-insurance)																610,816
Other expenses (non-insurance)																(532,703		)
Amortization of intangible assets																(34,464		)
Interest expense																(64,538		)
Loss on early extinguishment of debt																(44,100		)
Income before income taxes																$	330,227
U.S. GAAP combined ratio ⁽¹⁾	91		%	98		%	84		%	NM			⁽²⁾			90		%



	Six Months Ended June 30, 2015
(dollars in thousands)	U.S. Insurance			International Insurance			Reinsurance			Other Insurance (Discontinued Lines)				Investing		Consolidated
Gross premium volume	$	1,254,218		$	627,386		$	636,582		$	73			$	—	$	2,518,259
Net written premiums	1,050,807			486,837			531,732			398				—		2,069,774

Earned premiums	1,035,000			429,902			435,894			411				—		1,901,207
Losses and loss adjustment expenses:
Current accident year	(658,092		)	(317,740		)	(303,363		)	—				—		(1,279,195		)
Prior accident years	136,201			120,023			41,505			(1,723		)		—		296,006
Underwriting, acquisition and insurance expenses	(397,116		)	(173,411		)	(149,723		)	(87		)		—		(720,337		)
Underwriting profit (loss)	115,993			58,774			24,313			(1,399		)		—		197,681
Net investment income	—			—			—			—				183,461		183,461
Net realized investment gains	—			—			—			—				11,676		11,676
Other revenues (insurance)	3,605			6,302			892			327				—		11,126
Other expenses (insurance)	(2,189		)	(2,722		)	—			(10,697		)		—		(15,608		)
Segment profit (loss)	$	117,409		$	62,354		$	25,205		$	(11,769	)		$	195,137	$	388,336
Other revenues (non-insurance)																499,289
Other expenses (non-insurance)																(457,629		)
Amortization of intangible assets																(31,589		)
Interest expense																(58,600		)
Income before income taxes																$	339,807
U.S. GAAP combined ratio ⁽¹⁾	89		%	86		%	94		%	NM			⁽²⁾			90		%


⁽¹⁾	The U.S. GAAP combined ratio is a measure of underwriting performance and represents the relationship of incurred losses, loss adjustment expenses and underwriting, acquisition and insurance expenses to earned premiums.


⁽²⁾	NM – Ratio is not meaningful.