RETROCESSION	9 Months Ended
Sep. 30, 2017
Reinsurance Disclosures [Abstract]
RETROCESSION	RETROCESSION The Company, from time to time, purchases retrocessional coverage for one or more of the following reasons: to manage its overall exposure, to reduce its net liability on individual risks, to obtain additional underwriting capacity or to balance its underwriting portfolio. Additionally, retrocession can be used as a mechanism to share the risks and rewards of business written and, therefore, can be used as a tool to align the Company’s interests with those of its counterparties. The Company currently has coverage that provides for recovery of a portion of loss and loss expenses incurred on certain contracts. Loss and loss adjustment expense recoverable from the retrocessionaires are recorded as assets. For the three and nine months ended September 30, 2017, loss and loss adjustment expenses incurred of $168.9 million and $379.7 million, respectively (2016: $81.5 million and $283.5 million, respectively), reported on the condensed consolidated statements of income are net of loss and loss expenses recovered and recoverable of $16.0 million and $15.9 million, respectively (2016: $0.2 million and $0.9 million, respectively). Retrocession contracts do not relieve the Company from its obligations to the insureds. Failure of retrocessionaires to honor their obligations could result in losses to the Company. At September 30, 2017, the Company had losses receivable and loss reserves recoverable of $17.2 million (December 31, 2016: $2.2 million) from unrated retrocessionaires which were secured by collateral held by the Company. At September 30, 2017, $1.2 million (December 31, 2016: $0.5 million) of losses recoverable were from retrocessionaires rated A- or higher by A.M. Best. The Company regularly evaluates the financial condition of its retrocessionaires to assess the ability of the retrocessionaires to honor their respective obligations. At September 30, 2017 and December 31, 2016, no provision for uncollectible losses recoverable was considered necessary.

RETROCESSION

The Company, from time to time, purchases retrocessional coverage for one or more of the following reasons: to manage its overall exposure, to reduce its net liability on individual risks, to obtain additional underwriting capacity or to balance its underwriting portfolio. Additionally, retrocession can be used as a mechanism to share the risks and rewards of business written and, therefore, can be used as a tool to align the Company’s interests with those of its counterparties. The Company currently has coverage that provides for recovery of a portion of loss and loss expenses incurred on certain contracts. Loss and loss adjustment expense recoverable from the retrocessionaires are recorded as assets.

For the three and nine months ended September 30, 2017, loss and loss adjustment expenses incurred of $168.9 million and $379.7 million, respectively (2016: $81.5 million and $283.5 million, respectively), reported on the condensed consolidated statements of income are net of loss and loss expenses recovered and recoverable of $16.0 million and $15.9 million, respectively (2016: $0.2 million and $0.9 million, respectively).

Retrocession contracts do not relieve the Company from its obligations to the insureds. Failure of retrocessionaires to honor their obligations could result in losses to the Company. At September 30, 2017, the Company had losses receivable and loss reserves recoverable of $17.2 million (December 31, 2016: $2.2 million) from unrated retrocessionaires which were secured by collateral held by the Company. At September 30, 2017, $1.2 million (December 31, 2016: $0.5 million) of losses recoverable were from retrocessionaires rated A- or higher by A.M. Best.

The Company regularly evaluates the financial condition of its retrocessionaires to assess the ability of the retrocessionaires to honor their respective obligations. At September 30, 2017 and December 31, 2016, no provision for uncollectible losses recoverable was considered necessary.