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SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
UNDERWRITING RESULTS OF REPORTABLE SEGMENTS
The following tables present the underwriting results of the Company's reportable segments, as well as the carrying values of allocated goodwill and intangible assets:
 
  
2018
 
2017
 
 
Three months ended and at June 30,
Insurance
 
Reinsurance
 
Total
 
Insurance
 
Reinsurance
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross premiums written
$
1,026,644

 
$
624,181

 
$
1,650,825

 
$
764,202

 
$
598,125

 
$
1,362,327

 
 
Net premiums written
598,179

 
402,276

 
1,000,455

 
496,109

 
459,908

 
956,017

 
 
Net premiums earned
577,271

 
608,277

 
1,185,548

 
417,541

 
563,890

 
981,431

 
 
Other insurance related income (losses)
1,214

 
2,516

 
3,730

 
508

 
2,052

 
2,560

 
 
Net losses and loss expenses
(328,773
)
 
(377,868
)
 
(706,641
)
 
(275,465
)
 
(329,867
)
 
(605,332
)
 
 
Acquisition costs
(90,864
)
 
(141,088
)
 
(231,952
)
 
(62,390
)
 
(141,971
)
 
(204,361
)
 
 
General and administrative expenses
(102,369
)
 
(32,590
)
 
(134,959
)
 
(83,126
)
 
(34,160
)
 
(117,286
)
 
 
Underwriting income (loss)
$
56,479

 
$
59,247

 
115,726

 
$
(2,932
)
 
$
59,944

 
57,012

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate expenses
 
 
 
 
(30,254
)
 
 
 
 
 
(30,530
)
 
 
Net investment income
 
 
 
 
109,960

 
 
 
 
 
106,063

 
 
Net investment losses
 
 
 
 
(45,093
)
 
 
 
 
 
(4,392
)
 
 
Foreign exchange (losses) gains
 
 
 
 
44,099

 
 
 
 
 
(36,118
)
 
 
Interest expense and financing costs
 
 
 
 
(17,098
)
 
 
 
 
 
(12,751
)
 
 
Bargain purchase gain
 
 
 
 
—

 
 
 
 
 
15,044

 
 
Reorganization expenses
 
 
 
 
(18,772
)
 
 
 
 
 
—

 
 
Amortization of value of business acquired
 
 
 
 
(53,407
)
 
 
 
 
 
—

 
 
Amortization of intangible assets
 
 
 
 
(4,029
)
 
 
 
 
 
—

 
 
Income before income taxes and interest in income (loss) of equity method investments
 
 
 
 
$
101,132

 
 
 
 
 
$
94,328

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss and loss expense ratio
57.0
%
 
62.1
%
 
59.6
%
 
66.0
%
 
58.5
%
 
61.7
%
 
 
Acquisition cost ratio
15.7
%
 
23.2
%
 
19.6
%
 
14.9
%
 
25.2
%
 
20.8
%
 
 
General and administrative expense ratio
17.7
%
 
5.4
%
 
13.9
%
 
19.9
%
 
6.1
%
 
15.1
%
 
 
Combined ratio
90.4
%
 
90.7
%
 
93.1
%
 
100.8
%
 
89.7
%
 
97.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill and intangible assets
$
450,073

 
$
—

 
$
450,073

 
$
86,220

 
$
—

 
$
86,220

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
  
2018
 
2017
 
 
Six months ended and at June 30,
Insurance
 
Reinsurance
 
Total
 
Insurance
 
Reinsurance
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross premiums written
$
1,907,492

 
$
2,406,128

 
$
4,313,620

 
$
1,309,464

 
$
1,964,735

 
$
3,274,199

 
 
Net premiums written
1,146,071

 
1,840,255

 
2,986,326

 
852,945

 
1,612,031

 
2,464,976

 
 
Net premiums earned
1,157,330

 
1,195,620

 
2,352,950

 
809,504

 
1,110,629

 
1,920,133

 
 
Other insurance related income (losses)
1,833

 
8,502

 
10,335

 
551

 
(1,773
)
 
(1,222
)
 
 
Net losses and loss expenses
(650,312
)
 
(717,674
)
 
(1,367,986
)
 
(516,549
)
 
(695,724
)
 
(1,212,273
)
 
 
Acquisition costs
(178,193
)
 
(283,019
)
 
(461,212
)
 
(116,394
)
 
(277,759
)
 
(394,153
)
 
 
General and administrative expenses
(204,738
)
 
(69,886
)
 
(274,624
)
 
(168,381
)
 
(70,705
)
 
(239,086
)
 
 
Underwriting income
$
125,920

 
$
133,543

 
259,463

 
$
8,731

 
$
64,668

 
73,399

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate expenses
 
 
 
 
(60,425
)
 
 
 
 
 
(69,989
)
 
 
Net investment income
 
 
 
 
210,961

 
 
 
 
 
204,728

 
 
Net realized investment losses
 
 
 
 
(59,923
)
 
 
 
 
 
(29,443
)
 
 
Foreign exchange (losses) gains
 
 
 
 
6,239

 
 
 
 
 
(57,583
)
 
 
Interest expense and financing costs
 
 
 
 
(33,861
)
 
 
 
 
 
(25,543
)
 
 
Bargain purchase gain
 
 
 
 
—

 
 
 
 
 
15,044

 
 
Reorganization expenses
 
 
 
 
(31,825
)
 
 
 
 
 
—

 
 
Amortization of value of business acquired
 
 
 
 
(110,517
)
 
 
 
 
 
—

 
 
Amortization of intangible assets
 
 
 
 
(6,811
)
 
 
 
 
 
—

 
 
Income before income taxes and interest in income (loss) of equity method investments
 
 
 
 
$
173,301

 
 
 
 
 
$
110,613

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss and loss expense ratio
56.2
%
 
60.0
%
 
58.1
%
 
63.8
%
 
62.6
%
 
63.1
%
 
 
Acquisition cost ratio
15.4
%
 
23.7
%
 
19.6
%
 
14.4
%
 
25.0
%
 
20.5
%
 
 
General and administrative expense ratio
17.7
%
 
5.8
%
 
14.3
%
 
20.8
%
 
6.4
%
 
16.2
%
 
 
Combined ratio
89.3
%
 
89.5
%
 
92.0
%
 
99.0
%
 
94.0
%
 
99.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill and intangible assets
$
450,073

 
$
—

 
$
450,073

 
$
86,220

 
$
—

 
$
86,220