Restricted cash and cash equivalents and restricted investments (Tables)

6 Months Ended

Jun. 30, 2017

Cash and Cash Equivalents [Abstract]

Schedule of restricted cash and cash equivalents

Restricted cash and cash equivalents and restricted investments as of June 30, 2017 and December 31, 2016 consisted of the following:

	June 30, 2017		December 31, 2016
	($ in thousands)
Restricted cash securing letter of credit facilities (1)	$	219,468	$	231,822
Restricted cash securing other reinsurance contracts (2)	152,600		67,118
Total restricted cash and cash equivalents	372,068		298,940
Restricted investments securing other reinsurance contracts (2)	358,387		427,308
Total restricted cash and cash equivalents and restricted investments	$	730,455	$	726,248

(1) Restricted cash securing letter of credit facilities primarily pertains to letters of credit issued to clients and cash securing these obligations that the Company will not be released until the underlying reserves have been settled. The time period for which the Company expects these letters of credit to be in place varies from contract to contract, but can last several years.

(2) Restricted cash and restricted investments securing other reinsurance contracts pertain to trust accounts securing the Company’s contractual obligations under certain reinsurance contracts that the Company will not be released from until all underlying risks have expired or have been settled. Restricted investments include certain investments in debt securities including U.S. Treasury securities and sovereign debt. The time period for which the Company expects these trust accounts to be in place varies from contract to contract, but can last several years.