The following tables summarize the Company's segment disclosures.



	Quarter Ended June 30, 2017
(dollars in thousands)	U.S. Insurance			International Insurance			Reinsurance			Other Insurance (Discontinued Lines)				Investing		Consolidated
Gross premium volume	$	753,329		$	355,949		$	247,902		$	(16	)		$	—	$	1,357,164
Net written premiums	630,453			286,833			220,466			(95		)		—		1,137,657

Earned premiums	578,241			225,948			229,480			(95		)		—		1,033,574
Losses and loss adjustment expenses:
Current accident year	(379,809		)	(158,590		)	(146,186		)	—				—		(684,585		)
Prior accident years	77,266			55,262			28,151			928				—		161,607
Amortization of policy acquisition costs	(124,032		)	(36,356		)	(53,086		)	—				—		(213,474		)
Other operating expenses	(108,684		)	(54,203		)	(23,539		)	(135		)		—		(186,561		)
Underwriting profit	42,982			32,061			34,820			698				—		110,561
Net investment income	—			—			—			—				99,299		99,299
Net realized investment gains	—			—			—			—				17,627		17,627
Other revenues (insurance)	1,043			574			—			771				—		2,388
Other expenses (insurance)	(85		)	(2,728		)	—			(7,169		)		—		(9,982		)
Segment profit (loss)	$	43,940		$	29,907		$	34,820		$	(5,700	)		$	116,926	$	219,893
Other revenues (non-insurance)																328,605
Other expenses (non-insurance)																(289,130		)
Amortization of intangible assets																(18,026		)
Interest expense																(31,797		)
Income before income taxes																$	209,545
U.S. GAAP combined ratio ⁽¹⁾	93		%	86		%	85		%	NM			⁽²⁾			89		%



	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
Amortization of policy acquisition costs	(112,585		)	(32,873		)	(42,908		)	—				—		(188,366		)
Other operating expenses	(100,330		)	(63,689		)	(23,235		)	40				—		(187,214		)
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		%


⁽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, 2017
(dollars in thousands)	U.S. Insurance			International Insurance			Reinsurance			Other Insurance (Discontinued Lines)				Investing		Consolidated
Gross premium volume	$	1,393,158		$	629,117		$	795,639		$	1			$	—	$	2,817,915
Net written premiums	1,175,558			512,245			710,062			21				—		2,397,886

Earned premiums	1,127,577			433,461			455,117			21				—		2,016,176
Losses and loss adjustment expenses:
Current accident year	(726,115		)	(305,020		)	(291,796		)	—				—		(1,322,931		)
Prior accident years	119,886			105,528			(43,412		)	6,232				—		188,234
Amortization of policy acquisition costs	(236,998		)	(71,079		)	(109,945		)	—				—		(418,022		)
Other operating expenses	(202,059		)	(106,478		)	(46,408		)	(299		)		—		(355,244		)
Underwriting profit (loss)	82,291			56,412			(36,444		)	5,954				—		108,213
Net investment income	—			—			—			—				199,667		199,667
Net realized investment gains	—			—			—			—				38,492		38,492
Other revenues (insurance)	1,706			4,569			416			1,207				—		7,898
Other expenses (insurance)	(843		)	(5,074		)	—			(14,233		)		—		(20,150		)
Segment profit (loss)	$	83,154		$	55,907		$	(36,028	)	$	(7,072	)		$	238,159	$	334,120
Other revenues (non-insurance)																631,011
Other expenses (non-insurance)																(561,547		)
Amortization of intangible assets																(34,796		)
Interest expense																(65,199		)
Income before income taxes																$	303,589
U.S. GAAP combined ratio ⁽¹⁾	93		%	87		%	108		%	NM			⁽²⁾			95		%



	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
Amortization of policy acquisition costs	(220,589		)	(67,145		)	(90,601		)	—				—		(378,335		)
Other operating expenses	(189,789		)	(118,023		)	(54,047		)	(74		)		—		(361,933		)
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		%


⁽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.