Quarterly Information (unaudited) (Notes)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Data [Abstract]

Quarterly Financial Information (unaudited)

	2015												2014
($ in thousands)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Gross premiums written	$	1,062		$	(11,192	)	$	(8,710	)	$	(18,732	)	$	(5,766	)	$	(45,486	)	$	(13,700	)	$	(223,358	)
Net premiums earned	65,718			60,879			71,535			114,463			82,547			65,013			64,831			33,969
Net investment income	72,983			64,753			64,195			64,358			70,801			80,093			83,581			66,471
Net other than temporary impairment losses	(3,119		)	(1,020		)	(9,150		)	(12,370		)	(10,392		)	(8,754		)	(5,011		)	(1,637		)
Net realized investment gains	54,101			(5,353		)	2,106			2,622			16,289			3,067			10,045			29,376
Net change in fair value of credit derivatives	(2,499		)	10,293			36,952			(3,045		)	7,382			(1,219		)	7,416			10,327
Derivative products revenue	(37,774		)	50,999			(65,083		)	9,314			(53,841		)	(47,985		)	(15,685		)	(63,576		)
Net realized gains (losses) on extinguishment of debt	(93		)	(1,246		)	1,420			—			—			—			—			(74,724		)
Income (loss) on Variable Interest Entities	6,962			52,603			(21,435		)	(6,561		)	(5,542		)	(38,148		)	9,116			2,362
Loss and loss expenses (benefit)	(150,952		)	(147,477		)	(133,213		)	(337,065		)	(140,011		)	175,317			(28,698		)	(552,182		)
Insurance intangible amortization	37,432			38,088			39,680			54,357			31,714			36,256			41,908			41,952
Underwriting and operating expenses	24,523			25,873			25,006			27,300			25,786			24,033			25,513			26,142
Interest expense	27,908			28,173			29,899			30,557			32,328			31,953			31,841			31,354
Goodwill impairment	—			—			514,511			—			—			—			—			—
Reorganization items	—			—			—			—			23			186			2			—
Pre-tax income (loss)	216,580			286,095			(388,193		)	395,576			159,298			(210,412		)	84,773			459,594
Net income attributable to Common Shareholders	214,711			282,695			(390,987		)	386,984			155,942			(207,905		)	82,450			453,584
Net income (loss) per share:
Basic	$	4.75		$	6.26		$	(8.66	)	$	8.57		$	3.46		$	(4.61	)	$	1.83		$	10.05
Diluted	$	4.57		$	6.05		$	(8.66	)	$	8.56		$	3.31		$	(4.61	)	$	1.77		$	9.73