XML 96 R84.htm IDEA: XBRL DOCUMENT v3.7.0.1
Guarantor Financial Information Income Statement (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues:    
Net premiums earned $ 2,522,791 $ 2,354,610
Net investment income 200,532 205,886
Total net realized gains (losses) on investments 37,286 92,750
Net realized and unrealized gains (losses) on derivative instruments (7,069) (3,622)
Income (loss) from investment fund affiliates 38,261 (4,579)
Fee income and other 13,661 8,262
Total revenues 2,755,361 2,417,227
Expenses:    
Net losses and loss expenses incurred 1,583,456 1,382,485
Claims and policy benefits 7,291 4,937
Acquisition costs 435,869 403,267
Operating expenses 468,038 515,381
Exchange (gains) losses (3,336) (33,819)
Loss (gain) on sale of subsidiary 0  
Interest expense 50,711 52,303
Total expenses 2,542,029 2,324,554
Income (loss) before income tax and income (loss) from operating affiliates 213,332 92,673
Income (loss) from operating affiliates 13,609 12,650
Gain on sale of operating affiliate 0 0
Equity in net earnings (losses) of subsidiaries 0 0
Provision (benefit) for income tax 13,092 22,295
Net income (loss) 213,849 83,028
Non-controlling interests 61,006 61,143
Net income (loss) attributable to common shareholders 152,843 21,885
Comprehensive income (loss) 282,271 429,826
Life Funds Withheld Assets    
Revenues:    
Net investment income 33,364 41,560
Net realized and unrealized gains (losses) on derivative instruments (50,101) (236,080)
Consolidating Adjustments and Eliminations    
Revenues:    
Net premiums earned 0 0
Net investment income (83) 681
Total net realized gains (losses) on investments 0 1,533
Net realized and unrealized gains (losses) on derivative instruments 0 0
Income (loss) from investment fund affiliates 0 0
Fee income and other 0 0
Total revenues (83) 2,214
Expenses:    
Net losses and loss expenses incurred 0 0
Claims and policy benefits 0 0
Acquisition costs 0 0
Operating expenses 0 0
Exchange (gains) losses 0 0
Loss (gain) on sale of subsidiary 0  
Interest expense 0 0
Total expenses 0 0
Income (loss) before income tax and income (loss) from operating affiliates (83) 2,214
Income (loss) from operating affiliates 0 0
Gain on sale of operating affiliate 0 0
Equity in net earnings (losses) of subsidiaries (408,642) (119,217)
Provision (benefit) for income tax 0 0
Net income (loss) (408,725) (117,003)
Non-controlling interests (83) 0
Net income (loss) attributable to common shareholders (408,642) (117,003)
Comprehensive income (loss) (667,498) (932,885)
Consolidating Adjustments and Eliminations | Life Funds Withheld Assets    
Revenues:    
Net realized and unrealized gains (losses) on derivative instruments 0 0
XL- Bermuda/Ireland    
Revenues:    
Net premiums earned 0 [1] 0
Net investment income 83 [1] 113
Total net realized gains (losses) on investments 0 [1] 0
Net realized and unrealized gains (losses) on derivative instruments 0 [1] 0
Income (loss) from investment fund affiliates 0 [1] 0
Fee income and other 0 [1] 0
Total revenues 83 [1] 113
Expenses:    
Net losses and loss expenses incurred 0 [1] 0
Claims and policy benefits 0 [1] 0
Acquisition costs 0 [1] 0
Operating expenses 16,180 [1] 3,274
Exchange (gains) losses 176 [1] 17
Loss (gain) on sale of subsidiary [1] 0  
Interest expense 0 [1] (6)
Total expenses 16,356 [1] 3,285
Income (loss) before income tax and income (loss) from operating affiliates (16,273) [1] (3,172)
Income (loss) from operating affiliates 0 [1] 0
Gain on sale of operating affiliate 0 [1] 0
Equity in net earnings (losses) of subsidiaries 169,116 [1] 24,437
Provision (benefit) for income tax 0 [1] (620)
Net income (loss) 152,843 [1] 21,885
Non-controlling interests 0 [1] 0
Net income (loss) attributable to common shareholders 152,843 [1] 21,885
Comprehensive income (loss) 282,271 [1] 429,826
XL- Bermuda/Ireland | Life Funds Withheld Assets    
Revenues:    
Net realized and unrealized gains (losses) on derivative instruments 0 [1] 0
XL-Cayman    
Revenues:    
Net premiums earned 0 0
Net investment income 2,313 1,785
Total net realized gains (losses) on investments (777) 277
Net realized and unrealized gains (losses) on derivative instruments 0 0
Income (loss) from investment fund affiliates 0 0
Fee income and other 0 0
Total revenues 1,536 2,062
Expenses:    
Net losses and loss expenses incurred 0 0
Claims and policy benefits 0 0
Acquisition costs 0 0
Operating expenses 509 1,495
Exchange (gains) losses 1 (36)
Loss (gain) on sale of subsidiary 0  
Interest expense 35,147 35,169
Total expenses 35,657 36,628
Income (loss) before income tax and income (loss) from operating affiliates (34,121) (34,566)
Income (loss) from operating affiliates 0 0
Gain on sale of operating affiliate 0 0
Equity in net earnings (losses) of subsidiaries 239,526 94,780
Provision (benefit) for income tax 0 0
Net income (loss) 205,405 60,214
Non-controlling interests 36,289 35,777
Net income (loss) attributable to common shareholders 169,116 24,437
Comprehensive income (loss) 298,544 432,378
XL-Cayman | Life Funds Withheld Assets    
Revenues:    
Net realized and unrealized gains (losses) on derivative instruments 0 0
Other XL Subsidiaries    
Revenues:    
Net premiums earned 2,522,791 2,354,610
Net investment income 198,219 203,307
Total net realized gains (losses) on investments 38,063 90,940
Net realized and unrealized gains (losses) on derivative instruments (7,069) (3,622)
Income (loss) from investment fund affiliates 38,261 (4,579)
Fee income and other 13,661 8,262
Total revenues 2,753,825 2,412,838
Expenses:    
Net losses and loss expenses incurred 1,583,456 1,382,485
Claims and policy benefits 7,291 4,937
Acquisition costs 435,869 403,267
Operating expenses 451,349 510,612
Exchange (gains) losses (3,513) (33,800)
Loss (gain) on sale of subsidiary 0  
Interest expense 15,564 17,140
Total expenses 2,490,016 2,284,641
Income (loss) before income tax and income (loss) from operating affiliates 263,809 128,197
Income (loss) from operating affiliates 13,609 12,650
Gain on sale of operating affiliate 0 0
Equity in net earnings (losses) of subsidiaries 0 0
Provision (benefit) for income tax 13,092 22,915
Net income (loss) 264,326 117,932
Non-controlling interests 24,800 25,366
Net income (loss) attributable to common shareholders 239,526 92,566
Comprehensive income (loss) 368,954 500,507
Other XL Subsidiaries | Life Funds Withheld Assets    
Revenues:    
Net realized and unrealized gains (losses) on derivative instruments $ (50,101) $ (236,080)
[1] Results for the period include XL-Ireland, which prior to the Redomestication was the ultimate parent and is now in liquidation proceedings as outlined in Note 1, "Significant Accounting Policies." The Company expects the net assets of XL-Ireland to ultimately be distributed to XL-Bermuda upon completion of the liquidation.