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Sale of Life Reinsurance Subsidiary (Tables)
 9 Months Ended
Sep. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Impact of Life Retro Arrangements
The impact of the Life Retro Arrangements on the Company's results since the completion of the transaction on May 30, 2014 were as follows:
Impact of Life Retro Arrangements
Three months ended September 30,
 
May 30 to September 30,
(U.S. dollars in thousands)
2014
 
2014
Underwriting profit (loss) (1)
$
3,711

 
$
3,711

Net investment income - Life Funds Withheld Assets
56,474

 
75,639

Net realized gains (losses) on investments sold - Life Funds Withheld Assets
2,022

 
2,646

OTTI on investments - Life Funds Withheld Assets
(7,494
)
 
(16,265
)
Exchange (gains) losses
2,062

 
2,062

Other income and expenses
124

 
105

Net realized and unrealized gains (losses) on life retrocession embedded derivative and derivative instruments - Life Funds Withheld Assets
(201,264
)
 
(218,810
)
Net income (loss)
$
(144,365
)
 
$
(150,912
)
Change in net unrealized gains (losses) on investments - Life Funds Withheld Assets, net of tax
93,921

 
106,218

Change in adjustments related to future policy benefit reserves, net of tax
51,286

 
51,286

Change in cumulative translation adjustment - Life Funds Withheld Assets, net of tax
2,869

 
(2,881
)
Comprehensive income (loss)
$
3,711

 
$
3,711

____________
(1)
The underwriting profit of $3.7 million relates to a premium adjustment during the three months ended September 30, 2014 relating to the Life Retro Arrangements transaction which was completed on May 30, 2014. Excluding this transaction related impact the changes to other comprehensive income relating to the Life Retro Arrangements was $148.1 million and $154.6 million for the three and nine months ended September 30, 2014, respectively.