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Investments (Tables)
 12 Months Ended
Dec. 31, 2023
Investments [Abstract]  
Net Realized and Unrealized Investment Gains (Losses)
The components of the net realized and unrealized investment gains (losses) for the years ended December 31, 2023, 2022 and 2021 were as follows (in thousands of U.S. dollars): 
202320222021
Net realized investment (losses) gains on fixed maturities and short-term investments$(4,041)$859 $19,893 
Net realized investment gains on equities121,378 461,041 78,501 
Net realized investment (losses) gains on other invested assets(6,188)9,781 103,011 
Net realized investment gains$111,149 $471,681 $201,405 
Change in net unrealized investment gains (losses) on fixed maturities and short-term investments
$390,712 $(1,807,048)$(558,466)
Change in net unrealized investment gains (losses) on equities
43,420 (505,072)198,780 
Change in net unrealized investment (losses) gains on other invested assets(20,975)(123,694)196,926 
Net other realized and unrealized investment losses(1,761)(2,672)(848)
Change in net unrealized investment gains (losses)
$411,396 $(2,438,486)$(163,608)
Impairment loss on investments in real estate$(5,119)$(2,209)$— 
Net realized and unrealized investment gains (losses)$517,426 $(1,969,014)$37,797 
Net investment income
The components of net investment income for the years ended December 31, 2023, 2022 and 2021 were as follows (in thousands of U.S. dollars): 
202320222021
Fixed maturities$424,205 $310,152 $301,391 
Short-term investments and cash and cash equivalents75,467 17,477 4,860 
Other invested assets176,065 99,375 90,442 
Equities19,693 11,118 12,686 
Funds held and other (1)
6,950 10,801 17,871 
Investment expenses(56,695)(50,575)(50,781)
Net investment income$645,685 $398,348 $376,469 
(1)The Company generally earns investment income on funds held by reinsured companies based upon a predetermined interest rate, either fixed contractually at the inception of the contract or based upon a recognized index. Interest rates ranged from 0.2% to 10.5%, 0.1% to 10.9% and 0.1% to 7.3% for the years ended December 31, 2023, 2022 and 2021, respectively.