XML 102 R84.htm IDEA: XBRL DOCUMENT v3.7.0.1
Guarantor Financial Information Income Statement (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Net premiums earned $ 2,516,917 $ 2,532,212 $ 5,039,708 $ 4,886,822
Net investment income 208,674 215,388 409,206 421,274
Total net realized gains (losses) on investments 56,628 104,617 93,914 197,367
Net realized and unrealized gains (losses) on derivative instruments (906) 906 (7,975) (2,716)
Income (loss) from investment fund affiliates 30,818 13,179 69,079 8,600
Fee income and other 10,225 10,862 23,886 19,124
Total revenues 2,787,760 2,647,422 5,543,121 5,064,649
Expenses:        
Net losses and loss expenses incurred 1,529,083 1,632,386 3,112,539 3,014,871
Claims and policy benefits 7,595 5,482 14,886 10,419
Acquisition costs 433,584 420,520 869,453 823,787
Operating expenses 472,778 522,521 940,816 1,037,902
Exchange (gains) losses (5,643) (19,100) (8,979) (52,919)
Loss (gain) on sale of subsidiary       0
Gain (Loss) on Extinguishment of Debt       0
Interest expense 54,018 55,738 104,729 108,041
Total expenses 2,491,415 2,617,547 5,033,444 4,942,101
Income (loss) before income tax and income (loss) from operating affiliates 296,345 29,875 509,677 122,548
Income (loss) from operating affiliates 42,704 21,418 56,313 34,068
Gain on sale of operating affiliate       0
Equity in net earnings (losses) of subsidiaries     0 0
Provision (benefit) for income tax 29,006 2,467 42,098 24,762
Net income (loss) 310,043 48,826 523,892 131,854
Non-controlling interests 8,423 5,044 69,429 66,187
Net income (loss) attributable to common shareholders 301,620 43,782 454,463 65,667
Comprehensive income (loss) 377,811 357,812 660,082 787,638
Life Funds Withheld Assets        
Revenues:        
Net investment income 31,439 39,146 64,803 80,706
Net realized and unrealized gains (losses) on derivative instruments (34,596) (229,742) (84,697) (465,822)
Consolidating Adjustments and Eliminations        
Revenues:        
Net premiums earned 0 0 0 0
Net investment income (10) 481 (94) 1,162
Total net realized gains (losses) on investments 0 367 0 1,900
Net realized and unrealized gains (losses) on derivative instruments 0 0 0 0
Income (loss) from investment fund affiliates 0 0 0 0
Fee income and other 0 0 0 0
Total revenues (10) 848 (94) 3,062
Expenses:        
Net losses and loss expenses incurred 0 0 0 0
Claims and policy benefits 0 0 0 0
Acquisition costs 0 0 0 0
Operating expenses 0 0 0 0
Exchange (gains) losses 0 0 0 0
Loss (gain) on sale of subsidiary       0
Gain (Loss) on Extinguishment of Debt       0
Interest expense 0 0 0 0
Total expenses 0 0 0 0
Income (loss) before income tax and income (loss) from operating affiliates (10) 848 (94) 3,062
Income (loss) from operating affiliates 0 0 0 0
Gain on sale of operating affiliate       0
Equity in net earnings (losses) of subsidiaries (692,776) (120,854) (1,101,418) (240,071)
Provision (benefit) for income tax 0 0 0 0
Net income (loss) (692,786) (120,006) (1,101,512) (237,009)
Non-controlling interests (10) 0 (94) 0
Net income (loss) attributable to common shareholders (692,776) (120,006) (1,101,418) (237,009)
Comprehensive income (loss) (845,158) (748,066) (1,512,656) (1,680,951)
Consolidating Adjustments and Eliminations | Life Funds Withheld Assets        
Revenues:        
Net realized and unrealized gains (losses) on derivative instruments 0 0 0 0
XL- Bermuda/Ireland        
Revenues:        
Net premiums earned 0 [1] 0 0 [1] 0
Net investment income 10 [1] 64 94 [1] 177
Total net realized gains (losses) on investments 0 [1] 0 0 [1] 0
Net realized and unrealized gains (losses) on derivative instruments 0 [1] 0 0 [1] 0
Income (loss) from investment fund affiliates 0 [1] 0 0 [1] 0
Fee income and other 0 [1] 0 0 [1] 0
Total revenues 10 [1] 64 94 [1] 177
Expenses:        
Net losses and loss expenses incurred 0 [1] 0 0 [1] 0
Claims and policy benefits 0 [1] 0 0 [1] 0
Acquisition costs 0 [1] 0 0 [1] 0
Operating expenses 27,389 [1] (499) 43,570 [1] 2,775
Exchange (gains) losses 936 [1] (470) 1,112 [1] (453)
Loss (gain) on sale of subsidiary       0
Gain (Loss) on Extinguishment of Debt       0
Interest expense 0 [1] (9) 0 [1] (15)
Total expenses 28,325 [1] (978) 44,682 [1] 2,307
Income (loss) before income tax and income (loss) from operating affiliates (28,315) [1] 1,042 (44,588) [1] (2,130)
Income (loss) from operating affiliates 0 [1] 0 0 [1] 0
Gain on sale of operating affiliate       0
Equity in net earnings (losses) of subsidiaries 329,935 [1] 42,740 499,051 [1] 67,177
Provision (benefit) for income tax 0 [1] 0 0 [1] (620)
Net income (loss) 301,620 [1] 43,782 454,463 [1] 65,667
Non-controlling interests 0 [1] 0 0 [1] 0
Net income (loss) attributable to common shareholders 301,620 [1] 43,782 454,463 [1] 65,667
Comprehensive income (loss) 377,811 [1] 357,812 660,082 [1] 787,638
XL- Bermuda/Ireland | Life Funds Withheld Assets        
Revenues:        
Net realized and unrealized gains (losses) on derivative instruments 0 [1] 0 0 [1] 0
XLIT        
Revenues:        
Net premiums earned 0 0 0 0
Net investment income 2,103 3,096 4,416 4,881
Total net realized gains (losses) on investments 1,446 976 669 1,253
Net realized and unrealized gains (losses) on derivative instruments 0 0 0 0
Income (loss) from investment fund affiliates 0 0 0 0
Fee income and other 0 0 0 0
Total revenues 3,549 4,072 5,085 6,134
Expenses:        
Net losses and loss expenses incurred 0 0 0 0
Claims and policy benefits 0 0 0 0
Acquisition costs 0 0 0 0
Operating expenses 1,152 1,071 1,661 2,566
Exchange (gains) losses 26 (136) 27 (172)
Loss (gain) on sale of subsidiary       0
Gain (Loss) on Extinguishment of Debt       0
Interest expense 35,277 35,177 70,424 70,346
Total expenses 36,455 36,112 72,112 72,740
Income (loss) before income tax and income (loss) from operating affiliates (32,906) (32,040) (67,027) (66,606)
Income (loss) from operating affiliates 0 0 0 0
Gain on sale of operating affiliate       0
Equity in net earnings (losses) of subsidiaries 362,841 78,114 602,367 172,894
Provision (benefit) for income tax 0 0 0 0
Net income (loss) 329,935 46,074 535,340 106,288
Non-controlling interests 0 3,334 36,289 39,111
Net income (loss) attributable to common shareholders 329,935 42,740 499,051 67,177
Comprehensive income (loss) 406,126 356,770 704,670 789,148
XLIT | Life Funds Withheld Assets        
Revenues:        
Net realized and unrealized gains (losses) on derivative instruments 0 0 0 0
Other XL Subsidiaries        
Revenues:        
Net premiums earned 2,516,917 2,532,212 5,039,708 4,886,822
Net investment income 206,571 211,747 404,790 415,054
Total net realized gains (losses) on investments 55,182 103,274 93,245 194,214
Net realized and unrealized gains (losses) on derivative instruments (906) 906 (7,975) (2,716)
Income (loss) from investment fund affiliates 30,818 13,179 69,079 8,600
Fee income and other 10,225 10,862 23,886 19,124
Total revenues 2,784,211 2,642,438 5,538,036 5,055,276
Expenses:        
Net losses and loss expenses incurred 1,529,083 1,632,386 3,112,539 3,014,871
Claims and policy benefits 7,595 5,482 14,886 10,419
Acquisition costs 433,584 420,520 869,453 823,787
Operating expenses 444,237 521,949 895,585 1,032,561
Exchange (gains) losses (6,605) (18,494) (10,118) (52,294)
Loss (gain) on sale of subsidiary       0
Gain (Loss) on Extinguishment of Debt       0
Interest expense 18,741 20,570 34,305 37,710
Total expenses 2,426,635 2,582,413 4,916,650 4,867,054
Income (loss) before income tax and income (loss) from operating affiliates 357,576 60,025 621,386 188,222
Income (loss) from operating affiliates 42,704 21,418 56,313 34,068
Gain on sale of operating affiliate       0
Equity in net earnings (losses) of subsidiaries 0 0 0 0
Provision (benefit) for income tax 29,006 2,467 42,098 25,382
Net income (loss) 371,274 78,976 635,601 196,908
Non-controlling interests 8,433 1,710 33,234 27,076
Net income (loss) attributable to common shareholders 362,841 77,266 602,367 169,832
Comprehensive income (loss) 439,032 391,296 807,986 891,803
Other XL Subsidiaries | Life Funds Withheld Assets        
Revenues:        
Net realized and unrealized gains (losses) on derivative instruments $ (34,596) $ (229,742) $ (84,697) $ (465,822)
[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 Group upon completion of the liquidation.