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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues:      
Net premiums earned $ 8,226,425 $ 5,895,070 $ 6,309,521
Net investment income 872,370 918,625 957,716
Realized investment gains (losses):      
Total net realized gains (losses) on investments, and net unrealized gains (losses) on investments, Trading - Life Funds Withheld Assets 202,178 107,462 87,777
Net realized and unrealized gains (losses) on derivative instruments 53,123 29,886 7,798
Income (loss) from investment fund affiliates 73,320 95,816 138,391
Fee income and other 33,201 43,630 40,031
Total revenues 9,308,926 6,602,267 7,541,234
Expenses:      
Net losses and loss expenses incurred 4,766,200 3,258,393 3,731,464
Claims and policy benefits 115,997 242,963 465,702
Acquisition costs 1,317,448 [1] 738,118 909,323
Operating expenses 1,966,939 1,341,315 1,213,178
Foreign exchange (gains) losses 22,504 (37,568) (28,243)
Loss on sale of life reinsurance subsidiary 0 666,423 0
Extinguishment of debt 5,592 0 0
Interest expense 205,215 134,106 155,462
Total expenses 8,399,895 6,343,750 6,446,886
Income (loss) before income tax and income (loss) from operating affiliates 909,031 258,517 1,094,348
Income (loss) from operating affiliates 44,740 107,218 119,804
Gain on sale of operating affiliate 340,407 0 0
Provision (benefit) for income tax (19,161) 96,897 77,505
Net income (loss) 1,313,339 268,838 1,136,647
Non-controlling interests 106,187 80,498 76,731
Net income (loss) attributable to ordinary shareholders $ 1,207,152 $ 188,340 $ 1,059,916
Weighted average ordinary shares and ordinary share equivalents outstanding - basic (in shares) 286,194 267,103 287,801
Weighted average ordinary shares and ordinary share equivalents outstanding - diluted (in shares) 290,999 271,527 292,069
Earnings (loss) per ordinary share and ordinary share equivalent - basic (in dollars per share) $ 4.22 $ 0.71 $ 3.68
Earnings (loss) per ordinary share and ordinary share equivalent - diluted (in dollars per share) $ 4.15 $ 0.69 $ 3.63
Exclude Life Funds Withheld Assets [Member]      
Revenues:      
Net investment income $ 684,881 $ 789,050 $ 957,716
Realized investment gains (losses):      
Net realized gains (losses) on investments sold 102,957 158,733 104,076
Other-than-temporary impairments (OTTI) on investments (81,987) (33,508) (10,266)
OTTI on investments transferred to (from) other comprehensive income (973) (2,234) (6,033)
Total net realized gains (losses) on investments, and net unrealized gains (losses) on investments, Trading - Life Funds Withheld Assets 19,997 122,991 87,777
Life Funds Withheld Assets [Member]      
Revenues:      
Net investment income 187,489 129,575 0
Realized investment gains (losses):      
Net realized gains (losses) on investments sold 223,272 5,067 0
Other-than-temporary impairments (OTTI) on investments (13,357) (20,587) 0
Net unrealized gains (losses) on investments, Trading - Life Funds Withheld Assets (27,734) (9) 0
Net realized and unrealized gains (losses) on derivative instruments $ (151,691) $ (488,222) $ 0
[1] The Company has reflected the amortization of certain fair value adjustments recorded in conjunction with the Catlin Acquisition within the respective segments.