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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Net premiums earned $ 1,088,625 $ 1,134,212
Net investment income 93,101 107,303
Other insurance related income (loss) (8,707) 6,929
Net investment gains (losses):    
Allowance for expected credit losses (20,019) 0
Impairment losses (1,190) 0
Other-than-temporary impairment ("OTTI") losses 0 (4,036)
Other realized and unrealized investment gains (losses) (41,668) 16,803
Total net investment gains (losses) (62,877) 12,767
Total revenues 1,110,142 1,261,211
Expenses    
Net losses and loss expenses 908,073 664,028
Acquisition costs 238,650 260,418
General and administrative expenses 157,060 175,091
Foreign exchange losses (gains) (61,683) 7,056
Interest expense and financing costs 23,472 15,895
Reorganization expenses (982) 14,820
Amortization of value of business acquired 1,799 13,104
Amortization of intangible assets 2,870 3,003
Total expenses 1,269,259 1,153,415
Income (loss) before income taxes and interest in income (loss) of equity method investments (159,117) 107,796
Income tax (expense) benefit 4,867 (1,234)
Interest in income (loss) of equity method investments (23,577) 2,219
Net income (loss) (177,827) 108,781
Preferred share dividends 7,563 10,656
Net income (loss) available (attributable) to common shareholders $ (185,390) $ 98,125
Earnings (loss) per common share:    
Earnings (loss) per common share (in usd per share) $ (2.20) $ 1.17
Earnings (loss) per diluted common share (in usd per share) $ (2.20) $ 1.16
Weighted average common shares outstanding (in shares) 84,094 83,725
Weighted average diluted common shares outstanding (in shares) 84,094 84,272