Agreements with Related Parties

12 Months Ended

Dec. 31, 2015

Disclosure - Agreements With Related Parties [Abstract]

Agreements with related parties

20. Agreements with Related Parties

The Company was party to agreements with certain entities on an arm’s-length basis as follows.

Agreements with ING Group N.V.

In the normal course of its underwriting activities, the Company and certain subsidiaries entered into reinsurance contracts with ING Group N.V. (a company in which a board member of the Company was a supervisory director until July 2014). The activity included in the Consolidated Statements of Operations related to ING Group N.V. for the years ended December 31, 2014 and 2013 includes net premiums earned of $1.9 million and $2.6 million, respectively, and losses and loss expenses and life policy benefits of $0.6 million and $1.3 million, respectively.

Other Agreements

In the normal course of its investment operations, the Company bought or held securities of companies in which board members of the Company are also directors or non-executive directors. All transactions entered into as part of the investment portfolio were completed on market terms.