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SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
UNDERWRITING RESULTS OF REPORTABLE SEGMENTS
The following tables summarize the underwriting results of our reportable segments, as well as the carrying values of allocated goodwill and intangible assets:
 
  
2017
 
2016
 
 
Three months ended and at March 31,
Insurance
 
Reinsurance
 
Total
 
Insurance
 
Reinsurance
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross premiums written
$
694,006

 
$
1,217,865

 
$
1,911,871

 
$
653,349

 
$
1,305,812

 
$
1,959,161

 
 
Net premiums written
505,329

 
1,003,630

 
1,508,959

 
473,163

 
1,212,643

 
1,685,806

 
 
Net premiums earned
458,430

 
480,273

 
938,703

 
438,678

 
463,662

 
902,340

 
 
Other insurance related income (loss)
42

 
(3,825
)
 
(3,783
)
 
137

 
(340
)
 
(203
)
 
 
Net losses and loss expenses
(286,903
)
 
(320,039
)
 
(606,942
)
 
(274,405
)
 
(224,557
)
 
(498,962
)
 
 
Acquisition costs
(68,157
)
 
(121,635
)
 
(189,792
)
 
(61,398
)
 
(119,237
)
 
(180,635
)
 
 
General and administrative expenses
(90,448
)
 
(31,353
)
 
(121,801
)
 
(85,576
)
 
(38,013
)
 
(123,589
)
 
 
Underwriting income
$
12,964

 
$
3,421

 
16,385

 
$
17,436

 
$
81,515

 
98,951

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate expenses
 
 
 
 
(39,459
)
 
 
 
 
 
(26,312
)
 
 
Net investment income
 
 
 
 
98,664

 
 
 
 
 
49,164

 
 
Net realized investment losses
 
 
 
 
(25,050
)
 
 
 
 
 
(66,508
)
 
 
Foreign exchange losses
 
 
 
 
(21,465
)
 
 
 
 
 
(616
)
 
 
Interest expense and financing costs
 
 
 
 
(12,791
)
 
 
 
 
 
(12,833
)
 
 
Income before income taxes and interest in income (loss) of equity method investments
 
 
 
 
$
16,284

 
 
 
 
 
$
41,846

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss and loss expense ratio
62.6
%
 
66.6
%
 
64.7
%
 
62.6
%
 
48.4
%
 
55.3
%
 
 
Acquisition cost ratio
14.9
%
 
25.3
%
 
20.2
%
 
14.0
%
 
25.7
%
 
20.0
%
 
 
General and administrative expense ratio
19.7
%
 
6.6
%
 
17.2
%
 
19.5
%
 
8.2
%
 
16.6
%
 
 
Combined ratio
97.2
%
 
98.5
%
 
102.1
%
 
96.1
%
 
82.3
%
 
91.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill and intangible assets
$
84,613

 
$
—

 
$
84,613

 
$
86,446

 
$
—

 
$
86,446