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Related party transactions
 9 Months Ended
Sep. 30, 2016
Related Party Transactions [Abstract]  
Related party transactions
Related party transactions
The transactions listed below are classified as related party transactions as principals and/or directors of each counterparty are members of the Company's board of directors.
(a)
Aquiline Capital Partners LLC
Group Ark Insurance
Pursuant to reinsurance agreements with a subsidiary of Group Ark Insurance Holdings Ltd. ("Group Ark"), the Company recognized gross premiums written during the three and nine months ended September 30, 2016 of $1,096 (2015: $322) and $3,067 (2015: $2,718), respectively with $654 included in premiums receivable at September 30, 2016 (December 31, 2015: $82). The Company also recognized reinsurance premiums ceded during the three and nine months ended September 30, 2016 of $41 (2015: $23) and $41 (2015: $24), respectively and had reinsurance balances payable of $4 at September 30, 2016 (December 31, 2015: $4). The Company recorded $853 of loss reserves recoverable at September 30, 2016 (December 31, 2015: $790). Earned premium adjustments were recorded during the three and nine months ended September 30, 2016 of $1,276 (2015: $870) and $2,275 (2015: $2,187), respectively. Until July 2016, Aquiline Capital were shareholders of Group Ark. Christopher E. Watson, a director of the Company and senior principal of Aquiline Capital, serves as a director of Group Ark.
Conning
On November 24, 2009, the Company entered into an Investment Management Agreement with Conning, Inc. ("Conning") to manage a portion of the Company's investment portfolio. Aquiline Capital acquired Conning on June 16, 2009. Jeffrey W. Greenberg, a director of the Company, serves as a director of Conning Holdings Corp., the parent company of Conning. During the three months ended September 30, 2015, Aquiline Capital disposed of its investment in Conning. Therefore, effective September 30, 2015, Conning was no longer a related party. Investment management fees earned by Conning for the three and nine months ended September 30, 2015 were $436 and $841, respectively.
Aquiline II
On December 20, 2011, the Company entered into an Agreement with Aquiline Capital and Aquiline II General Partner pursuant to which the Company has assumed 100% of Aquiline Capital's interest in the Aquiline II Partnership representing a total capital commitment of $50,000 (the "Aquiline II Commitment"), as a limited partner in the Partnership (the "Transferred Interest"). On October 2, 2014, the Company assumed an additional investment in the Aquiline II Partnership as part of the Western World acquisition representing a total capital commitment of $10,000. Messrs. Greenberg and Watson, directors of the Company, serve as managing principal and senior principal, respectively, of Aquiline Capital. For the three and nine months ended September 30, 2016, the Company incurred $nil and $440 (2015:$155 and $1,092), respectively, in partnership fees and made net capital contributions (distributions) of $nil and $575 (2015: ($3,684) and $5,293), respectively.
Aquiline III
On November 7, 2014, the Company entered into a Subscription Agreement (the "Subscription Agreement") with the Aquiline III General Partner pursuant to which the Company is committing and agreeing to purchase limited partnership or other comparable limited liability equity interests (the "Limited Partnership Interests") in the "Aquiline III Partnership, and/or one or more Alternative Investment Vehicles and Intermediate Entities (together with the Aquiline III Partnership, the "Fund" or the "Entities") with a capital commitment (the "Aquiline III Commitment") in an amount equal to $100,000, as a limited partner in the Aquiline III Partnership. For the three and nine months ended September 30, 2016, the Company incurred $520 and $1,095 (2015: $666 and $1,239), respectively, in partnership fees and made net capital contributions (distributions) of $nil and $15,732 (2015: ($345) and $13,793), respectively.
(b)
Other
Certain shareholders of the Company and their affiliates, as well as employers of entities associated with directors or officers have purchased insurance and/or reinsurance from the Company in the ordinary course of business. The Company believes these transactions were settled for arm's length consideration.