Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets
Term loans, fair value option (Amortized cost: $1,113,510 and $1,113,212)	$ 906,999	$ 1,061,934
Fixed maturities, fair value option (Amortized cost: $504,750 and $432,576)	392,452	416,594
Short-term investments, fair value option (Cost: $348,059 and $325,542)	343,861	329,303
Equity securities, fair value option	58,091	59,799
Other investments, fair value option	30,682	30,461
Investments, fair value option	1,732,085	1,898,091
Fixed maturities, available for sale (Amortized cost: $749,835 and $739,456)	717,552	745,708
Equity securities, fair value through net income	63,169	65,338
Total investments	2,512,806	2,709,137
Cash and cash equivalents	96,580	102,437
Accrued investment income	16,344	14,025
Premiums receivable	281,541	273,657
Reinsurance recoverable on unpaid and paid losses and loss adjustment expenses	197,458	170,974
Prepaid reinsurance premiums	128,570	132,577
Deferred acquisition costs, net	71,402	64,044
Receivable for securities sold	26,789	16,288
Intangible assets	7,650	7,650
Funds held by reinsurers	40,520	42,505
Other assets	27,287	17,562
Total assets	3,406,947	3,550,856
Liabilities
Reserve for losses and loss adjustment expenses	1,300,249	1,263,628
Unearned premiums	478,663	438,907
Losses payable	46,424	61,314
Reinsurance balances payable	71,204	77,066
Payable for securities purchased	63,829	18,180
Payable for securities sold short	30,076	66,257
Revolving credit agreement borrowings	576,486	484,287
Senior notes	172,486	172,418
Amounts due to affiliates	4,168	4,467
Investment management and performance fees payable	5,428	17,762
Other liabilities (1)	41,552	21,912
Total liabilities	2,790,565	2,626,198
Commitments and contingencies
Contingently redeemable preference shares	52,328	52,305
Shareholders’ equity
Common shares ($0.01 par; shares authorized: 120 million; shares issued: 22,703,170 and 22,692,300)	227	227
Additional paid-in capital	898,693	898,083
Retained earnings (deficit)	(224,737)	43,470
Accumulated other comprehensive income (loss)	(32,206)	5,629
Common shares held in treasury, at cost (shares: 2,917,149 and 2,789,405)	(77,923)	(75,056)
Total shareholders’ equity	564,054	872,353
Total liabilities, contingently redeemable preference shares and shareholders’ equity	$ 3,406,947	$ 3,550,856