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Condensed Quarterly Financial Data - Unaudited (Tables)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Schedule of quarterly financial data
The following tables summarize our quarterly financial data:
2016 Quarters Ended
 
March 31
 
June 30
 
September 30
 
December 31(1)
Total revenues
 
$
659,414

 
$
674,746

 
$
738,189

 
$
659,284

Net income (loss)
 
36,829

 
39,887

 
40,796

 
(69,374
)
Net income (loss) attributable to Maiden common shareholders
 
27,216

 
30,910

 
31,829

 
(74,731
)
Comprehensive income (loss) – attributable to Maiden
 
130,130

 
89,389

 
45,802

 
(177,577
)
Basic earnings (loss) per common share attributable to Maiden common shareholders (2)
 
$
0.37

 
$
0.42

 
$
0.42

 
$
(0.87
)
Diluted earnings (loss) per common share attributable to Maiden common shareholders (2)
 
$
0.35

 
$
0.39

 
$
0.40

 
$
(0.87
)

2015 Quarters Ended
 
March 31
 
June 30
 
September 30
 
December 31
Total revenues
 
$
611,427

 
$
647,071

 
$
693,696

 
$
620,917

Net income
 
38,534

 
26,511

 
28,515

 
30,724

Net income attributable to Maiden common shareholders
 
32,405

 
20,519

 
22,499

 
24,716

Comprehensive income (loss) – attributable to Maiden
 
50,694

 
(39,962
)
 
10,658

 
(15,974
)
Basic earnings per common share attributable to Maiden common shareholders
 
$
0.44

 
$
0.28

 
$
0.31

 
$
0.34

Diluted earnings per common share attributable to Maiden common shareholders
 
$
0.41

 
$
0.27

 
$
0.30

 
$
0.32


(1)
During the fourth quarter of 2016, following the receipt of updated information during the Company's reserving process and in response to a very challenging commercial auto market, the Company increased the reserve for loss and LAE in both our Diversified Reinsurance and AmTrust Reinsurance segments as well as our NGHC run-off business. The Company recorded unfavorable reserve development which reduced its net income, net income attributable to Maiden common shareholders and comprehensive income during the three months ended December 31, 2016 by approximately $120,426 or $1.40 per basic common share and $1.39 per diluted common share.
(2)
Basic earnings (loss) per common share attributable to Maiden common shareholders and diluted earnings (loss) per common share attributable to Maiden common shareholders is calculated as a function of average shares issued, or dilutive, during the respective period.
The effect of mandatory convertible preference shares were excluded in the calculation of diluted EPS for the year ended December 31, 2016 (for the period that the convertible shares were outstanding) as they were anti-dilutive however they were dilutive in each of the first three quarters of 2016 until their mandatory conversion to common shares on September 15, 2016. Please refer to "Note 12. Earnings per Common Share" for further details.