Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015		Dec. 31, 2014
Assets
Fixed maturities, at fair value (amortized cost: 2015—$5,581,846; 2014—$5,534,494)	$ 5,578,856		$ 5,532,731
Short-term investments, at fair value (amortized cost: 2015—$1,661,705; 2014—$1,051,222)	1,661,687	[1]	1,051,074	[2]
Other investments, at fair value (cost: 2015—$864,651; 2014—$879,176)	817,374		813,011
Cash and cash equivalents	408,485		577,240
Restricted cash	74,002		173,003
Total investments and cash	8,540,404		8,147,059
Investments in affiliates	347,962		261,483
Premiums receivable	1,062,654		707,647
Deferred acquisition costs	225,065		161,295
Prepaid reinsurance premiums	125,547		81,983
Securities lending collateral	6,461		470
Loss reserves recoverable	385,212		377,466
Paid losses recoverable	21,681		38,078
Income taxes recoverable	15,870		0
Deferred tax asset	22,352		23,821
Receivable for investments sold	15,055		18,318
Intangible assets	122,676		126,924
Goodwill	196,758		195,897
Accrued investment income	23,755		24,865
Other assets	124,511		164,633
Total assets	11,235,963		10,329,939
Liabilities
Reserve for losses and loss expenses	3,169,334		3,234,394
Unearned premiums	1,281,319		990,564
Reinsurance balances payable	90,838		127,128
Securities lending payable	6,927		936
Deferred tax liability	8,921		5,541
Payable for investments purchased	118,164		68,574
Accounts payable and accrued expenses	248,834		318,245
Notes payable to AlphaCat investors	1,443,198		671,465
Senior notes payable	247,387		247,306
Debentures payable	538,054		539,277
Total liabilities	$ 7,152,976		$ 6,203,430
Commitments and contingent liabilities
Redeemable noncontrolling interest	$ 0		$ 79,956
Shareholders' equity
Common shares, 571,428,571 authorized, par value $0.175 (Issued: 2015—158,434,541; 2014—155,554,224; Outstanding: 2015—81,997,891; 2014—83,869,845)	27,726		27,222
Treasury shares (2015—76,436,650; 2014—71,684,379)	(13,376)		(12,545)
Additional paid-in-capital	1,048,917		1,207,493
Accumulated other comprehensive loss	(10,869)		(8,556)
Retained earnings	2,592,162		2,374,344
Total shareholders' equity available to Validus	3,644,560		3,587,958
Noncontrolling interest	438,427		458,595
Total shareholders' equity	4,082,987		4,046,553
Total liabilities, noncontrolling interests and shareholders’ equity	$ 11,235,963		$ 10,329,939

[1] Included in the short-term investments balance are assets managed in support of AlphaCat's fully collateralized reinsurance transactions.

[2] Included in the short-term investments balance are assets managed in support of AlphaCat's fully collateralized reinsurance transactions. Also, included in the short-term investments balance are investments held by one AlphaCat ILS fund which was consolidated by the Company through May 31, 2015, but in which the Company had an equity interest of less than 100%. The remaining interests are held by third party investors and included in the Consolidated Balance Sheets as redeemable noncontrolling interest.