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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:      
Net premiums earned $ 9,777,934 $ 8,226,425 $ 5,895,070
Net investment income 827,133 872,370 918,625
Realized investment gains (losses):      
Total net realized gains (losses) on investments, and net unrealized gains (losses) on investments, Trading 372,138 202,178 107,462
Net realized and unrealized gains (losses) on derivative instruments 2,521 53,123 29,886
Income (loss) from investment fund affiliates 70,758 73,320 95,816
Fee income and other 35,692 33,201 43,630
Total revenues 10,546,086 9,308,926 6,602,267
Expenses:      
Net losses and loss expenses incurred 6,072,835 4,766,200 3,258,393
Claims and policy benefits 28,244 115,997 242,963
Acquisition costs 1,620,671 1,317,448 738,118
Operating expenses 2,063,362 1,966,939 1,341,315
Foreign exchange (gains) losses (9,578) 22,504 (37,568)
Loss (gain) sale of subsidiaries (7,088) 0 666,423
Extinguishment of debt 0 5,592 0
Interest expense 209,763 205,215 134,106
Total expenses 9,978,209 8,399,895 6,343,750
Income (loss) before income tax and income (loss) from operating affiliates 567,877 909,031 258,517
Income (loss) from operating affiliates 44,397 44,740 107,218
Gain on sale of operating affiliate 0 340,407 0
Provision (benefit) for income tax 42,129 (19,161) 96,897
Net income (loss) 570,145 1,313,339 268,838
Non-controlling interests 129,177 106,187 80,498
Net income (loss) attributable to common shareholders $ 440,968 $ 1,207,152 $ 188,340
Weighted average ordinary shares and ordinary share equivalents outstanding - basic (in shares) 278,957 286,194 267,103
Weighted average ordinary shares and ordinary share equivalents outstanding - diluted (in shares) 282,758 290,999 271,527
Earnings (loss) per ordinary share and ordinary share equivalent - basic (in dollars per share) $ 1.58 $ 4.22 $ 0.71
Earnings (loss) per ordinary share and ordinary share equivalent - diluted (in dollars per share) $ 1.56 $ 4.15 $ 0.69
Exclude Life Funds Withheld Assets      
Revenues:      
Net investment income $ 672,382 $ 684,881 $ 789,050
Realized investment gains (losses):      
Net realized gains (losses) on investments sold 191,247 102,957 158,733
Other-than-temporary impairments (OTTI) on investments (78,997) (81,987) (33,508)
OTTI on investments transferred to (from) other comprehensive income 439 (973) (2,234)
Total net realized gains (losses) on investments, and net unrealized gains (losses) on investments, Trading 112,689 19,997 122,991
Life Funds Withheld Assets      
Revenues:      
Net investment income 154,751 187,489 129,575
Realized investment gains (losses):      
Net realized gains (losses) on investments sold 152,589 223,272 5,067
Other-than-temporary impairments (OTTI) on investments (2,598) (13,357) (20,587)
Net unrealized gains (losses) on investments, Trading - Life Funds Withheld Assets 109,458 (27,734) (9)
Net realized and unrealized gains (losses) on derivative instruments $ (540,090) $ (151,691) $ (488,222)