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UNAUDITED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues:                        
Net premiums earned $ 2,354,610       $ 1,334,000         $ 8,226,425 $ 5,895,070 $ 6,309,521
Net investment income 205,886       208,513         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 92,750       52,891         202,178 107,462 87,777
Net realized and unrealized gains (losses) on derivative instruments (3,622)       16,521         53,123 29,886 7,798
Income (loss) from investment fund affiliates (4,579)       35,329         73,320 95,816 138,391
Fee income and other 8,262       4,728         33,201 43,630 40,031
Total revenues 2,417,227       1,422,615         9,308,926 6,602,267 7,541,234
Expenses:                        
Net losses and loss expenses incurred 1,382,485       769,827         4,766,200 3,258,393 3,731,464
Claims and policy benefits 4,937       19,387         115,997 242,963 465,702
Acquisition costs 403,267 [1]       153,696         1,317,448 [2] 738,118 909,323
Operating expenses 515,381       325,656         1,966,939 1,341,315 1,213,178
Foreign exchange (gains) losses (33,819)       27,390         22,504 (37,568) (28,243)
Loss on sale of life reinsurance subsidiary 0       0         0 666,423 0
Interest expense 52,303       51,438         205,215 134,106 155,462
Total expenses 2,324,554       1,347,394         8,399,895 6,343,750 6,446,886
Income (loss) before income tax and income (loss) from operating affiliates 92,673       75,221         909,031 258,517 1,094,348
Income (loss) from operating affiliates 12,650       22,668         44,740 107,218 119,804
Provision (benefit) for income tax 22,295       24,218         (19,161) 96,897 77,505
Net income (loss) 83,028       73,671         1,313,339 268,838 1,136,647
Non-controlling interests 61,143       37,390         106,187 80,498 76,731
Net income (loss) attributable to ordinary shareholders $ 21,885       $ 36,281         $ 1,207,152 $ 188,340 $ 1,059,916
Weighted average ordinary shares outstanding - basic (in thousands of shares) 291,969       255,724         286,194 267,103 287,801
Weighted average ordinary shares outstanding - diluted (in thousands of shares) 296,666       260,704         290,999 271,527 292,069
Earnings (loss) per ordinary share and ordinary share equivalent - basic (in dollars per share) $ 0.07 $ 0.77 $ 0.09 $ 3.16 $ 0.14 $ 0.54 $ 0.27 $ (1.03) $ 0.93 $ 4.22 $ 0.71 $ 3.68
Earnings (loss) per ordinary share and ordinary share equivalent - diluted (in dollars per share) $ 0.07 $ 0.76 $ 0.09 $ 3.11 $ 0.14 $ 0.53 $ 0.27 $ (1.03) $ 0.91 $ 4.15 $ 0.69 $ 3.63
Excluding Life Funds Withheld Assets                        
Revenues:                        
Net investment income $ 164,326       $ 158,094         $ 684,881 $ 789,050 $ 957,716
Realized investment gains (losses):                        
Net realized gains (losses) on investments sold 11,164       15,178         102,957 158,733 104,076
Other-than-temporary impairments (OTTI) on investments (19,582)       (10,515)         (81,987) (33,508) (10,266)
OTTI on investments transferred to (from) other comprehensive income 2       (61)         (973) (2,234) (6,033)
Total net realized gains (losses) on investments, and net unrealized gains (losses) on investments, Trading - Life Funds Withheld Assets (8,416)       4,602         19,997 122,991 87,777
Life Funds Withheld Assets                        
Revenues:                        
Net investment income 41,560       50,419         187,489 129,575 0
Realized investment gains (losses):                        
Net realized gains (losses) on investments sold 34,416       52,738         223,272 5,067 0
Other-than-temporary impairments (OTTI) on investments (2,346)       (5,209)         (13,357) (20,587) 0
Net unrealized gains (losses) on investments, trading securities 69,096       760         (27,734) (9) 0
Total net realized gains (losses) on investments, and net unrealized gains (losses) on investments, Trading - Life Funds Withheld Assets 101,166       48,289              
Net realized and unrealized gains (losses) on derivative instruments $ (236,080)       $ (229,367)         $ (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.
[2] The Company has reflected the amortization of certain fair value adjustments recorded in conjunction with the Catlin Acquisition within the respective segments.