Quarterly Financial Results

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly financial results

	Three months ended
	December 31, 2019			September 30, 2019			June 30, 2019			March 31, 2019
Revenues
Gross premiums written	$	134,230		$	95,388		$	82,637		$	319,591
Gross premiums ceded	(5,964		)	(1,116		)	(1,473		)	(712		)
Net premiums written	128,266			94,272			81,164			318,879
Change in net unearned premium reserves	70,126			108,976			64,288			(165,829		)
Net premiums earned	198,392			203,248			145,452			153,050
Net investment income (loss)	61,614			(3,138		)	69,131			154,953
Total revenues	260,006			200,110			214,583			308,003
Expenses
Loss and loss adjustment expenses incurred, net	140,394			85,703			82,334			95,068
Acquisition costs, net	61,851			118,271			58,006			57,498
General and administrative expenses	12,744			9,237			19,650			12,132
Other expenses	3,625			5,058			3,811			4,125
Interest expense	2,074			2,074			2,051			2,029
Foreign exchange (gains) losses	10,298			(4,921		)	(4,260		)	2,518
Total expenses	230,986			215,422			161,592			173,370
Income (loss) before income tax (expense) benefit	29,020			(15,312		)	52,991			134,633
Income tax (expense) benefit	718			213			74			(1,718		)
Net income (loss)	29,738			(15,099		)	53,065			132,915
Net income attributable to noncontrolling interests in related party	—			—			—			—
Net income (loss) available to Third Point Re common shareholders	$	29,738		$	(15,099	)	$	53,065		$	132,915
Earnings (loss) per share available to Third Point Re common shareholders
Basic earnings (loss) per share available to Third Point Re common shareholders	$	0.32		$	(0.16	)	$	0.58		$	1.45
Diluted earnings (loss) per share available to Third Point Re common shareholders	$	0.32		$	(0.16	)	$	0.57		$	1.43
Weighted average number of common shares used in the determination of earnings (loss) per share
Basic	91,989,469			91,903,556			91,776,870			91,669,810
Diluted	92,696,491			91,903,556			92,801,799			92,578,933

	Three months ended
	December 31, 2018			September 30, 2018			June 30, 2018			March 31, 2018
Revenues
Gross premiums written	$	120,063		$	30,064		$	49,765		$	378,360
Gross premiums ceded	(1,770		)	—			(3,479		)	(14,646		)
Net premiums written	118,293			30,064			46,286			363,714
Change in net unearned premium reserves	91,177			97,929			95,207			(221,228		)
Net premiums earned	209,470			127,993			141,493			142,486
Net investment income (loss)	(276,810		)	(3,590		)	31,175			(2,208		)
Total revenues	(67,340		)	124,403			172,668			140,278
Expenses
Loss and loss adjustment expenses incurred, net	173,088			88,706			84,000			92,620
Acquisition costs, net	56,668			40,841			57,584			51,405
General and administrative expenses	7,553			9,511			9,696			9,481
Other (income) expenses	2,994			(1,362		)	3,983			3,995
Interest expense	2,074			2,074			2,051			2,029
Foreign exchange (gains) losses	(3,288		)	(1,979		)	(8,847		)	6,611
Total expenses	239,089			137,791			148,467			166,141
Income (loss) before income tax (expense) benefit	(306,429		)	(13,388		)	24,201			(25,863		)
Income tax (expense) benefit	8,417			111			(4,390		)	(128		)
Net income (loss)	(298,012		)	(13,277		)	19,811			(25,991		)
Net income attributable to noncontrolling interests in related party	—			(4		)	(209		)	(10		)
Net income (loss) available to Third Point Re common shareholders	$	(298,012	)	$	(13,281	)	$	19,602		$	(26,001	)
Earnings (loss) per share available to Third Point Re common shareholders
Basic earnings (loss) per share available to Third Point Re common shareholders	$	(3.24	)	$	(0.14	)	$	0.20		$	(0.26	)
Diluted earnings (loss) per share available to Third Point Re common shareholders	$	(3.24	)	$	(0.14	)	$	0.19		$	(0.26	)
Weighted average number of common shares used in the determination of earnings (loss) per share
Basic	91,967,831			95,671,385			99,498,901			101,195,747
Diluted	91,967,831			95,671,385			102,032,485			101,195,747