Business combination (Tables)

12 Months Ended

Dec. 31, 2016

Composition of purchase price and fair value of net assets acquired

The fair value of net assets acquired, including pro forma U.S. GAAP adjustments, are summarized as follows:



Total purchase price				$	692,305
Assets acquired
	Cash and cash equivalents	$	48,760
	Investments	1,126,185
	Receivables	37,848
	Other assets	19,418
	Tangible assets acquired			1,232,211
	Intangible asset - State licenses	$	12,325
	Intangible asset - Brand name	5,756
	Intangible asset - Distribution network	4,651
	Intangible asset - Technology	2,323
	Intangible assets acquired			$	25,055
Liabilities acquired
	Net loss reserves and paid losses recoverable	$	523,315
	Unearned premiums, net of expenses	135,686
	Other liabilities	81,464
	Liabilities acquired			740,465
Excess purchase price (goodwill) as at December 31, 2014				$	175,504
Measurement period adjustments ^(a)				861
Excess purchase price (goodwill) as at December 31, 2015				$	176,365


(a)	During the year ended December 31, 2015, measurement period adjustments of $861 were made to certain other assets, net of taxes.

Pro forma information

The unaudited pro forma data is for informational purposes only and does not necessarily represent results that would have occurred if the transaction had taken place on the basis assumed above.



	Year Ended December 31,
	2014
(Dollars in thousands)	Unaudited
Net premiums earned	$	2,216,349
Net operating income	$	481,179
Net income	$	448,071

Summary of results of acquired company since acquisition

The following selected audited information has been provided to present a summary of the results of Western World that have been included in the Consolidated Financial Statements for the year ended December 31, 2014.



	From Acquisition Date to
(Dollars in thousands)	December 31, 2014
Net premiums written	$	58,807
Total revenue	78,325
Total expenses	(66,882		)
Net income	$	11,443