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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues      
Net premiums earned $ 4,791,495 $ 4,148,760 $ 3,705,625
Net investment income 438,507 400,805 353,335
Other insurance related income (losses) 10,622 (1,240) 7,222
Bargain purchase gain 0 15,044 0
Net investment gains (losses):      
Other-than-temporary impairment (OTTI) losses (9,733) (14,493) (26,210)
Other realized and unrealized investment gains (losses) (140,485) 42,719 (34,315)
Total net investment gains (losses) (150,218) 28,226 (60,525)
Total revenues 5,090,406 4,591,595 4,005,657
Expenses      
Net losses and loss expenses 3,190,287 3,287,772 2,204,197
Acquisition costs 968,835 823,591 746,876
General and administrative expenses 627,389 579,428 602,717
Foreign exchange losses (gains) (29,165) 134,737 (121,295)
Interest expense and financing costs 67,432 54,811 51,360
Transaction and reorganization expenses 66,940 26,718 0
Amortization of value of business acquired 172,332 50,104 0
Amortization of intangible assets 13,814 2,543 0
Total expenses 5,077,864 4,959,704 3,483,855
Income (loss) before income taxes and interest in income (loss) of equity method investments 12,542 (368,109) 521,802
Income tax (expense) benefit 29,486 7,542 (6,340)
Interest in income (loss) of equity method investments 993 (8,402) (2,094)
Net income (loss) 43,021 (368,969) 513,368
Preferred share dividends 42,625 46,810 46,597
Loss on repurchase of preferred shares 0 0 1,309
Net income (loss) available (attributable) to common shareholders $ 396 $ (415,779) $ 465,462
Earnings (loss) per common share:      
Earnings (loss) per common share (in dollars per share) $ 0.00 $ (4.94) $ 5.13
Earnings (loss) per diluted common share (in dollars per share) $ 0.00 $ (4.94) $ 5.08
Weighted average common shares outstanding (in shares) 83,501 84,108 90,772
Weighted average diluted common shares outstanding (in shares) 84,007 84,108 91,547