Quarterly Information (unaudited) (Tables)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Data [Abstract]

Quarterly Financial Information (unaudited)

	2017												2016
($ in thousands)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Gross premiums written	$	5,584		$	6,928		$	(24,696	)	$	(2,129	)	$	(24,780	)	$	(4,041	)	$	(10,543	)	$	(14,473	)
Net premiums earned	47,613			43,152			52,989			31,523			52,800			41,402			53,218			49,867
Net investment income	81,559			85,160			87,177			107,057			60,821			70,758			90,917			90,871
Net other than temporary impairment losses	(3,942		)	(1,763		)	(13,510		)	(956		)	(9,334		)	(7,441		)	(2,853		)	(2,191		)
Net realized investment gains (losses)	(4,896		)	4,180			6,150			(68		)	1,102			14,897			11,749			11,536
Net change in fair value of credit derivatives	1,052			6,624			179			8,517			12,866			3,955			1,733			1,552
Net gains (losses) on interest rate derivatives	(1,514		)	34,068			3,984			23,027			(83,424		)	(36,331		)	(14,510		)	83,992
Net realized gains (losses) on extinguishment of debt	2,741			2,179			—			—			1,235			3,586			24			—
Income (loss) on Variable Interest Entities	3,701			(1,219		)	(4,049		)	21,237			(27,163		)	8,987			2,057			2,026
Losses and loss expenses (benefit)	135,011			66,100			209,806			102,269			(105,281		)	(52,496		)	(69,204		)	215,492
Insurance intangible amortization	37,525			33,471			45,690			34,168			50,890			39,013			44,553			40,152
Operating expenses	27,980			31,051			33,791			28,694			28,009			27,995			21,466			36,190
Interest expense	31,572			28,234			29,145			30,990			30,430			30,709			31,493			31,712
Pre-tax income (loss)	(105,860		)	13,992			(185,466		)	(6,917		)	12,854			61,511			116,720			(86,059		)
Net income (loss) attributable to Common Shareholders	$	(125,441	)	$	7,110		$	(190,905	)	$	(19,479	)	$	9,415		$	58,647		$	101,474		$	(94,693	)
Net income (loss) per share:
Basic	$	(2.77	)	$	0.16		$	(4.20	)	$	(0.43	)	$	0.21		$	1.30		$	2.24		$	(2.09	)
Diluted	$	(2.77	)	$	0.16		$	(4.20	)	$	(0.43	)	$	0.21		$	1.29		$	2.22		$	(2.09	)

Schedule of Quarterly Financial Information

18. QUARTERLY INFORMATION (Unaudited)

	2017												2016
($ in thousands)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Gross premiums written	$	5,584		$	6,928		$	(24,696	)	$	(2,129	)	$	(24,780	)	$	(4,041	)	$	(10,543	)	$	(14,473	)
Net premiums earned	47,613			43,152			52,989			31,523			52,800			41,402			53,218			49,867
Net investment income	81,559			85,160			87,177			107,057			60,821			70,758			90,917			90,871
Net other than temporary impairment losses	(3,942		)	(1,763		)	(13,510		)	(956		)	(9,334		)	(7,441		)	(2,853		)	(2,191		)
Net realized investment gains (losses)	(4,896		)	4,180			6,150			(68		)	1,102			14,897			11,749			11,536
Net change in fair value of credit derivatives	1,052			6,624			179			8,517			12,866			3,955			1,733			1,552
Net gains (losses) on interest rate derivatives	(1,514		)	34,068			3,984			23,027			(83,424		)	(36,331		)	(14,510		)	83,992
Net realized gains (losses) on extinguishment of debt	2,741			2,179			—			—			1,235			3,586			24			—
Income (loss) on Variable Interest Entities	3,701			(1,219		)	(4,049		)	21,237			(27,163		)	8,987			2,057			2,026
Losses and loss expenses (benefit)	135,011			66,100			209,806			102,269			(105,281		)	(52,496		)	(69,204		)	215,492
Insurance intangible amortization	37,525			33,471			45,690			34,168			50,890			39,013			44,553			40,152
Operating expenses	27,980			31,051			33,791			28,694			28,009			27,995			21,466			36,190
Interest expense	31,572			28,234			29,145			30,990			30,430			30,709			31,493			31,712
Pre-tax income (loss)	(105,860		)	13,992			(185,466		)	(6,917		)	12,854			61,511			116,720			(86,059		)
Net income (loss) attributable to Common Shareholders	$	(125,441	)	$	7,110		$	(190,905	)	$	(19,479	)	$	9,415		$	58,647		$	101,474		$	(94,693	)
Net income (loss) per share:
Basic	$	(2.77	)	$	0.16		$	(4.20	)	$	(0.43	)	$	0.21		$	1.30		$	2.24		$	(2.09	)
Diluted	$	(2.77	)	$	0.16		$	(4.20	)	$	(0.43	)	$	0.21		$	1.29		$	2.22		$	(2.09	)