XML 104 R55.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Related Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2019
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
As of December 31, 2019 and December 31, 2018, the RNCI on our balance sheet relating to these Trident co-investment transactions was as follows:
 
2019
 
2018
Redeemable Noncontrolling Interest
$
420,499

 
$
439,428


The following table presents the amounts included in our consolidated balance sheet related to our related party transactions with Stone Point and its affiliated entities:
 
December 31, 2019
 
December 31, 2018
Short-term investments, available-for-sale, at fair value
$
1,431

 
$
—

Fixed maturities, trading, at fair value
269,131

 
176,193

Fixed maturities, available-for-sale, at fair value
160,303

 
—

Equities, at fair value
121,794

 
57,319

Other investments, at fair value:

 

Hedge funds
18,993

 
19,535

Fixed income funds
381,449

 
324,561

Private equity funds
34,858

 
52,925

CLO equities
32,560

 
15,372

CLO equity funds
87,509

 
37,260

Private Debt
16,312

 
10,387

Real estate fund
18,106

 
8,025

Cash and cash equivalents
54,080

 
11,739

Other assets
10

 
5,216

Other liabilities
4,710

 
4,240

The following table presents the amounts included in net earnings related to our related party transactions with Stone Point and its affiliated entities:
 
2019
 
2018
 
2017
Net investment income
$
8,733

 
$
7,424

 
$
5,990

Net realized and unrealized gains (losses)
26,631

 
207

 
24,684

Total net earnings
$
35,364

 
$
7,631

 
$
30,674


Our consolidated statement of earnings for the years ended December 31, 2018 and 2017 included the following balances related to transactions between us and KaylaRe and KaylaRe Ltd. up until May 14, 2018, the date of acquisition:
 
2018
 
2017
Fee income due to Enstar Limited
$
1,453

 
$
2,679

 
 
 
 
Transactions under KaylaRe-StarStone QS:
 
 
 
Ceded premium earned
(52,651
)
 
(234,079
)
Net incurred losses
31,654

 
155,433

Acquisition costs
18,774

 
99,500

 
 
 
 
Transactions under Fitzwilliam reinsurance agreement:
 
 
 
Profit Commission
—

 
18,843

 
 
 
 
Total net earnings (loss)
$
(770
)
 
$
42,376


Our consolidated balance sheet as of December 31, 2019 and 2018 included the following balances related to transactions with Hillhouse:
 
2019
 
2018
Investments in funds managed by AnglePoint, held by Enhanzed Re
$
327,799

 
$
75,192

Our ownership of equity method investments
47.4
%
 
47.4
%
Our share of Enhanzed Re's funds managed by AnglePoint
$
155,377

 
$
35,641

 
 
 
 
Investment in other funds managed by Hillhouse:
 
 
 
InRe Fund
$
918,633

 
$
678,420

Other funds
232,968

 
166,646

 
$
1,151,601

 
$
845,066


Our investment in the common and preferred shares of Monument, carried in equity method investments on our consolidated balance sheet, as of December 31, 2019 and 2018 was as follows:
 
2019
 
2018
Investment in Monument
$
60,598

 
$
42,193


Our investment in the common shares of Clear Spring, carried in equity method investments on our consolidated balance sheet, as of December 31, 2019 and 2018 was as follows:
 
2019
 
2018
Investment in Clear Spring
$
10,645

 
$
10,070


Our consolidated balance sheet as of December 31, 2019 and 2018 included the following balances between us and Clear Spring:
 
2019
 
2018
Balances under StarStone ceding quota share:
 
 
 
Reinsurance balances recoverable on paid and unpaid losses
$
22,812

 
$
23,718

Prepaid insurance premiums
51

 
13,821

Ceded payable
3,616

 
14,153

Ceded acquisition costs
21

 
3,233

 
 
 
 
Balances under assuming quota share:
 
 
 
Losses and LAE
6,135

 
5,778

Unearned reinsurance premiums
13

 
3,455

Funds held
8,611

 
10,242

Our consolidated statement of earnings for the years ended December 31, 2019 and 2018 included the following amounts between us and Clear Spring:
 
2019
 
2018
 
2017
Amounts under StarStone ceding quota share:
 
 
 
 
 
Ceded premium earned
$
(14,994
)
 
$
(29,520
)
 
(14,256
)
Net incurred losses and LAE
6,567

 
18,143

 
9,533

Acquisition costs
356

 
7,035

 
6,718

 
 
 
 
 
 
Amounts under assuming quota share:
 
 
 
 
 
Premium earned
3,749

 
7,380

 
3,564

Net incurred losses and LAE
(2,202
)
 
(4,536
)
 
(1,181
)
Acquisition costs
(92
)
 
(1,836
)
 
(1,753
)
 
 
 
 
 
 
Total net earnings (loss)
$
(6,616
)
 
$
(3,334
)
 
$
2,625


Our indirect investment in the shares of AmTrust, carried in equities on our consolidated balance sheet, as of December 31, 2019 was as follows:
 
2019
 
2018
Investment in AmTrust
$
240,115

 
$
200,000


Our indirect investment in the shares of Citco, carried in equity method investments on our consolidated balance sheet, as of December 31, 2019 and 2018 was as follows:
 
2019
 
2018
Investment in Citco
$
51,742

 
$
50,812


Our investment in the common shares of Enhanzed Re, carried in equity method investments on our consolidated balance sheet, as of December 31, 2019 was as follows:
 
2019
 
2018
Investment in Enhanzed Re
$
182,856

 
$
94,800


Our consolidated balance sheet as of December 31, 2019 and 2018 included the following balances between us and Enhanzed Re:
 
2019
Balances under ceding quota share:
 
Insurance balances payables
$
1,443

Reinsurance balances recoverable
59,601

Funds held
50,089

 
 
Other assets
1,033

Our consolidated statement of earnings for the years ended December 31, 2019 and 2018 included the following amounts between us and Enhanzed Re:
 
2019
Amounts under ceding quota share:
 
Acquisition costs
$
73

 
 
Other income
749

 
 
Total net earnings (loss)
$
822