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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues    
Gross premiums written $ 1,832,456 $ 1,190,857
Reinsurance premiums ceded (376,294) (200,106)
Net premiums written 1,456,162 990,751
Change in unearned premiums (837,220) (415,375)
Net premiums earned 618,942 575,376
Net investment income 52,072 40,214
Net realized gains (losses) on investments 2,200 (1,164)
Change in net unrealized (losses) gains on investments (57,381) 13,348
Income from investment affiliates 13,068 5,188
Other insurance related income and other income 25,540 1,330
Foreign exchange gains 525 1,569
Total revenues 654,966 635,861
Expenses    
Losses and loss expenses 321,545 269,585
Policy acquisition costs 116,456 111,628
General and administrative expenses 114,726 87,924
Share compensation expenses 9,729 9,491
Finance expenses 14,263 13,943
Transaction expenses 7,756 0
Total expenses 584,475 492,571
Income before taxes and (income) attributable to AlphaCat investors 70,491 143,290
Tax benefit 6,833 3,549
(Income) attributable to AlphaCat investors (10,862) (7,503)
Net income 66,462 139,336
Net (income) attributable to noncontrolling interests (64,712) (42,572)
Net income available to Validus 1,750 96,764
Dividends on preferred shares (5,828) (2,203)
Net (loss) income (attributable) available to Validus common shareholders (4,078) 94,561
Comprehensive (loss) income    
Net income 66,462 139,336
Other comprehensive income (loss)    
Change in foreign currency translation adjustments 1,837 597
Change in minimum pension liability, net of tax (38) 68
Change in fair value of cash flow hedge 28,763 98
Other comprehensive income (loss) 30,562 763
Comprehensive (income) attributable to noncontrolling interests (64,712) (42,572)
Comprehensive income available to Validus $ 32,312 $ 97,527
Earnings per common share    
Basic (loss) earnings per share (attributable) available to Validus common shareholders $ (0.05) $ 1.19
(Loss) earnings per diluted share (attributable) available to Validus common shareholders (0.05) 1.17
Cash dividends declared per common share $ 0.38 $ 0.38
Weighted average number of common shares and common share equivalents outstanding:    
Basic (in shares) 79,325,688 79,133,671
Diluted (in shares) 79,325,688 80,739,142