AmTrust Financial Services (AFSIP) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 01, 2016
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	AFSI
Entity Registrant Name	AMTRUST FINANCIAL SERVICES, INC.
Entity Central Index Key	1,365,555
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		170,450,763

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Investments:
Fixed maturities, available-for-sale, at fair value (amortized cost $6,800,294; $5,482,042)	$ 7,043,815	$ 5,433,797
Equity securities, available-for-sale, at fair value (cost $160,011; $109,346)	165,743	104,497
Equity securities, trading, at fair value (cost $34,091; $26,937)	34,439	27,271
Short-term investments	49,008	84,266
Equity investment in unconsolidated subsidiaries – related party	153,040	138,023
Other investments (related party $67,077; $64,869; recorded at fair value $40,267; $30,309)	125,201	99,012
Total investments	7,571,246	5,886,866
Cash and cash equivalents	1,092,836	931,970
Restricted cash and cash equivalents	557,159	380,699
Accrued interest and dividends	52,569	51,487
Premiums receivable, net	2,405,638	2,115,653
Reinsurance recoverable (related party $2,376,739; $1,963,140)	4,040,073	3,008,670
Prepaid reinsurance premium (related party $1,196,420; $1,066,961)	2,018,372	1,531,866
Other assets (related party $177,352; $189,223; recorded at fair value $332,085; $264,001)	1,393,379	1,398,064
Deferred policy acquisition costs	964,642	704,243
Property and equipment, net	339,063	281,456
Goodwill	654,861	432,700
Intangible assets	429,700	367,345
Total assets	21,519,538	17,091,019
Liabilities:
Loss and loss adjustment expense reserves	9,427,770	7,208,367
Unearned premiums	4,900,926	4,014,728
Ceded reinsurance premiums payable (related party $734,103; $379,988)	932,199	651,051
Accrued expenses and other liabilities (related party $167,975; $167,975; recorded at fair value $92,337; $132,558)	1,317,386	1,140,830
Debt	1,235,316	989,356
Total liabilities	17,813,597	14,004,332
Commitments and contingencies
Redeemable non-controlling interest	1,187	1,172
Stockholders’ equity:
Common stock, $0.01 par value; 500,000 shares authorized; 196,455 issued in 2016 and 2015, respectively; 170,427 and 175,915 outstanding in 2016 and 2015, respectively	1,965	1,964
Preferred stock, $0.01 par value; 10,000 shares authorized; 5,399 and 4,968 issued and outstanding; $913,750 and $482,500 aggregated liquidation preference in 2016 and 2015, respectively.	913,750	482,500
Additional paid-in capital	1,376,463	1,383,492
Treasury stock at cost; 26,028 and 20,540 shares in 2016 and 2015, respectively	(311,328)	(162,867)
Accumulated other comprehensive loss, net of tax	(51,024)	(130,262)
Retained earnings	1,591,664	1,334,233
Total AmTrust Financial Services, Inc. equity	3,521,490	2,909,060
Non-controlling interest	183,264	176,455
Total stockholders’ equity	3,704,754	3,085,515
Total liabilities and stockholders' equity	$ 21,519,538	$ 17,091,019

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fixed maturities, available-for-sale, amortized cost	$ 6,800,294	$ 5,482,042
Equity securities, available-for-sale, cost	160,011	109,346
Trading securities, cost basis	34,041	26,937
Other Investments	40,267	30,309
Other investments (related party $67,077; $64,869; recorded at fair value $40,267; $30,309)	125,201	99,012
Reinsurance recoverable	4,040,073	3,008,670
Prepaid reinsurance premium	2,018,372	1,531,866
Other assets, fair value	332,085	264,001
Other assets	1,393,379	1,398,064
Ceded reinsurance premiums payable	932,199	651,051
Accrued expenses and other current liabilities	92,337	132,558
Accrued expenses and other liabilities (related party $167,975; $167,975; recorded at fair value $92,337; $132,558)	$ 1,317,386	$ 1,140,830
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	196,455,000	196,455,000
Common stock, shares outstanding	170,427,000	175,915,000
Liquidation preference	$ 913,750	$ 482,500
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred Stock, shares issued	5,399,000	4,968,000
Preferred Stock, shares outstanding	5,399,000	4,968,000
Treasury stock, at cost, shares	26,028,000	20,540,000
Related Party Transactions
Other investments (related party $67,077; $64,869; recorded at fair value $40,267; $30,309)	$ 67,077	$ 64,869
Reinsurance recoverable	2,376,739	1,963,140
Prepaid reinsurance premium	1,196,420	1,066,961
Other assets	177,352	189,223
Ceded reinsurance premiums payable	734,103	379,988
Accrued expenses and other liabilities (related party $167,975; $167,975; recorded at fair value $92,337; $132,558)	$ 167,975	$ 167,975

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Premium income:
Net written premium	$ 1,216,050	$ 1,142,983	$ 3,705,165	$ 3,194,893
Change in unearned premium	(19,814)	(97,575)	(252,895)	(231,138)
Net earned premium	1,196,236	1,045,408	3,452,270	2,963,755
Service and fee income (related parties - three months $19,367; $19,250 and nine months $61,137; $57,935)	146,611	126,143	429,082	346,766
Net investment income	59,919	40,425	160,079	111,281
Net realized gain on investments	8,230	17,682	31,304	30,693
Total revenues	1,410,996	1,229,658	4,072,735	3,452,495
Expenses:
Loss and loss adjustment expense	811,048	709,604	2,310,514	1,961,362
Acquisition costs and other underwriting expenses (net of ceding commission - related party - three months $158,216; $138,036 and nine months $440,561; $385,945)	283,958	258,016	847,395	728,402
Other	137,542	116,900	398,698	313,487
Total expenses	1,232,548	1,084,520	3,556,607	3,003,251
Income before other income (expense), income taxes and equity in earnings of unconsolidated subsidiaries	178,448	145,138	516,128	449,244
Other income (loss):
Interest expense (net of interest income - related party - three months $2,061; $2,115 and nine months $6,436; $6,514)	(23,950)	(12,862)	(61,388)	(32,763)
Loss on extinguishment of debt	0	(557)	0	(5,271)
Gain on investment in life settlement contracts net of profit commission	5,485	4,616	28,891	19,085
Foreign currency (loss) gain	(8,320)	24,721	(70,428)	17,355
Acquisition gain on purchase	0	5,826	48,775	5,826
Total other income (loss)	(26,785)	21,744	(54,150)	4,232
Income before income taxes and equity in earnings of unconsolidated subsidiaries	151,663	166,882	461,978	453,476
Provision for income taxes	35,516	(12,649)	91,160	38,635
Income before equity in earnings of unconsolidated subsidiaries	116,147	179,531	370,818	414,841
Equity in earnings of unconsolidated subsidiaries – related parties	1,954	13,477	12,532	23,048
Net income	118,101	193,008	383,350	437,889
Net income attributable to redeemable non-controlling interest and non-controlling interest of subsidiaries	(2,975)	(1,511)	(12,809)	(6,940)
Net income attributable to AmTrust Financial Services, Inc.	115,126	191,497	370,541	430,949
Dividends on preferred stock	(11,576)	(8,789)	(31,943)	(22,797)
Net income attributable to AmTrust common stockholders	$ 103,550	$ 182,708	$ 338,598	$ 408,152
Earnings per common share: (usd per share)
Basic earnings per share (usd per share)	$ 0.61	$ 1.10	$ 1.96	$ 2.48
Diluted earnings per share (usd per share)	0.60	1.09	1.93	2.43
Dividends declared per common share (usd per share)	$ 0.17	$ 0.15	$ 0.47	$ 0.4
Net realized loss on investments:
Total other-than-temporary impairment loss	$ (9,461)	$ (7,636)	$ (26,417)	$ (10,118)
Portion of loss recognized in other comprehensive income	0	0	0	0
Net impairment losses recognized in earnings	(9,461)	(7,636)	(26,417)	(10,118)
Net realized gain on available for sale securities	14,380	16,049	53,106	29,306
Net unrealized gain on trading securities and other investments	3,311	9,269	4,615	11,505
Net realized investment gain (loss)	$ 8,230	$ 17,682	$ 31,304	$ 30,693

Consolidated Statements of Inc5

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Service and fee income	$ 146,611	$ 126,143	$ 429,082	$ 346,766
Interest Income form related party	2,061	2,115	6,436	6,514
Related Party Transactions
Service and fee income	19,367	19,250	61,137	57,935
Ceding commission - earned	$ 158,215	$ 138,036	$ 440,561	$ 385,945

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 118,101	$ 193,008	$ 383,350	$ 437,889
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(89,218)	2,128	(173,883)	(49,204)
Change in fair value of interest rate swap	253	107	540	297
Unrealized gain (loss) on securities:
Gross unrealized holding gain (loss)	31,529	(25,611)	331,761	(106,105)
Tax expense (benefit) arising during period	(41,602)	(8,964)	61,187	(37,137)
Net unrealized holding gain (loss)	73,131	(16,647)	270,574	(68,968)
Other-than-temporary impairment loss	5,989	1,088	16,526	1,046
Other net realized (gain) loss on investments	(9,388)	751	(34,519)	(412)
Reclassification adjustments for investment gain (loss) included in net income:	(3,399)	1,839	(17,993)	634
Other comprehensive income (loss), net of tax	(19,233)	(12,573)	79,238	(117,241)
Comprehensive income	98,868	180,435	462,588	320,648
Less: Comprehensive income attributable to redeemable non-controlling interest and non-controlling interest	2,975	1,511	12,809	6,940
Comprehensive income attributable to AmTrust Financial Services, Inc.	$ 95,893	$ 178,924	$ 449,779	$ 313,708

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income	$ 383,350	$ 437,889
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	89,779	61,602
Net amortization of bond premium or discount	21,983	11,845
Equity earnings on investment in unconsolidated subsidiaries	(12,532)	(23,048)
Gain on investment in life settlement contracts, net	(28,891)	(19,085)
Realized gain on available for sale securities and unrealized gain on trading securities	(57,721)	(40,811)
Non-cash write-down of available for sale securities	26,417	10,118
Discount on notes payable	4,420	4,226
Stock based compensation	17,433	16,678
Loss on extinguishment of debt	0	5,271
Bad debt expense	15,199	13,943
Foreign currency loss (gain)	70,428	(17,355)
Acquisition gain on purchase	(48,775)	(5,826)
Changes in assets - (increase) decrease:
Premiums and note receivables	(265,477)	(492,354)
Reinsurance recoverable	(361,794)	(510,397)
Deferred policy acquisition costs, net	(260,399)	(87,597)
Prepaid reinsurance premiums	(486,506)	(304,361)
Other assets	177,545	(428,504)
Changes in liabilities - increase (decrease):
Reinsurance premium payable	316,497	138,192
Loss and loss expense reserve	1,189,411	999,371
Unearned premiums	513,141	495,499
Funds held under reinsurance treaties	(7,487)	20,685
Accrued expenses and other current liabilities	(669,059)	360,490
Deferred taxes	212,952	(178,363)
Net cash provided by operating activities	839,914	468,108
Cash flows from investing activities:
Purchases of fixed maturities, available-for-sale	(1,839,005)	(1,671,330)
Purchases of equity securities, available-for-sale	(129,716)	(32,898)
Purchase of equity securities, trading	(150,654)	(154,524)
Purchase of other investments	(22,555)	(74,562)
Sales of fixed maturities, available-for-sale	1,537,296	971,448
Sales of equity securities, available-for-sale	110,895	18,639
Sales of equity securities, trading	155,502	161,723
Sales of other investments	3,371	2,960
Net sale of short term investments	(99,320)	48,165
Net (purchase) sale of securities sold but not purchased	(14,848)	75,573
Acquisition of life settlement contracts	(15,880)	0
Receipt of life settlement contract proceeds	38,247	86,033
Acquisition of subsidiaries, net of cash obtained	(139,038)	(219,568)
Change in restricted cash and cash equivalents	(176,428)	(70,846)
Purchase of property and equipment	(93,787)	(100,421)
Net cash used in investing activities	(835,920)	(959,608)
Cash flows from financing activities:
Revolving credit facility borrowings	0	430,000
Revolving credit facility payments	0	(420,000)
Secured loan proceeds	45,809	10,250
Secured loan agreements payments	(5,372)	(5,234)
Convertible senior notes settlement	(10)	(62,079)
Subordinated notes due 2055 proceeds	0	285,000
Financing fees	0	(9,451)
Common stock issuance	276	171,672
Common stock repurchase	(152,395)	0
Preferred stock issuance	417,264	176,529
Non-controlling interest capital distributions from consolidated subsidiaries, net	(5,984)	14,451
Stock option exercise and other	(6,819)	(219)
Dividends distributed on common stock	(78,501)	(60,498)
Dividends distributed on preferred stock	(31,943)	(22,797)
Net cash provided by financing activities	182,325	507,624
Effect of exchange rate changes on cash	(25,453)	(8,221)
Net increase in cash and cash equivalents	160,866	7,903
Cash and cash equivalents, beginning of the period	931,970	902,750
Cash and cash equivalents, end of the period	1,092,836	910,653
Supplemental Cash Flow Information
Income tax payments	24,565	231,684
Interest payments on debt	46,133	31,573
Declared dividends on common stock	$ 81,167	$ 66,121

Basis of Reporting

Basis of Reporting	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Reporting	Basis of Reporting The accompanying unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include all of the information and footnotes required by GAAP for complete financial statements. These interim statements should be read in conjunction with the financial statements and notes thereto included in the AmTrust Financial Services, Inc. (“AmTrust” or the “Company”) Annual Report on Form 10-K for the year ended December 31, 2015 , previously filed with the Securities and Exchange Commission (“SEC”) on February 29, 2016. The balance sheet at December 31, 2015 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. These interim consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim period and all such adjustments are of a normal recurring nature. The results of operations for the interim period are not necessarily indicative, if annualized, of those to be expected for the full year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. The Company implemented a two-for-one stock split on February 2, 2016. As a result, the Company retrospectively adjusted all share and per share amounts in the accompanying condensed consolidated financial statements and notes to the condensed consolidated financial statements to apply the effect of the stock split for all periods presented. A detailed description of the Company’s significant accounting policies and management judgments is located in the audited consolidated financial statements for the year ended December 31, 2015 , included in the Company’s Form 10-K filed with the SEC. All significant inter-company transactions and accounts have been eliminated in the consolidated financial statements. To facilitate period-to-period comparisons, certain reclassifications have been made to prior period consolidated financial statement amounts to conform to current period presentation. Correction of an Immaterial Error The Company identified an immaterial error related to its classification on the consolidated statement of cash flows for purchases and sales of securities sold but not yet purchased, at fair value. The Company determined that in prior periods reported, these amounts were improperly reflected as changes in accrued expenses and other current liabilities in cash flow from operating activities instead of securities sold but not yet purchased, at fair value, in cash flow from investing activities. The Company reviewed the impact of this error on the prior periods and determined that the error was not material to the prior period consolidated financial statements. The Company has corrected the consolidated statement of cash flows for the nine months ended September 30, 2015 by presenting this amount separately within investing activities and decreasing the changes in accrued expenses and other current liabilities within operating activities. The impact of the error decreased the Company's net cash provided by operating activities by $75,573 and increased the Company's cash flows from investing activities by an equivalent amount for the period ended September 30, 2015 .

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements With the exception of those discussed below, there have been no recent accounting pronouncements or changes in accounting pronouncements during the nine months ended September 30, 2016 , as compared to those described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 , that are of significance, or potential significance, to the Company. Recent Accounting Standards, Adopted In May 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2015-07, Fair Value Measurement (Topic 820): Disclosure for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) , which provides guidance that removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient, and limits certain disclosure requirements only to investments for which the entity elects to measure the fair value using that practical expedient. The updated guidance is effective for reporting periods beginning after December 15, 2015, and should be applied retrospectively for all periods presented. The Company adopted this ASU on January 1, 2016. The adoption of this guidance did not have a material effect on the Company's results of operations, financial position or liquidity. In April 2015, the FASB issued ASU 2015-05, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement , which provides guidance to determine whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The updated guidance is effective for reporting periods beginning after December 15, 2015, and can be adopted either prospectively to all arrangements entered into or materially modified after the effective date, or retrospectively. The Company adopted this ASU on January 1, 2016. The adoption of this guidance did not have a material effect on the Company's results of operations, financial position or liquidity. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs , which provides updated guidance to clarify the required presentation of debt issuance costs. The amended guidance requires that debt issuance costs be presented in the balance sheet as a direct reduction from the carrying amount of the recognized debt liability, consistent with the treatment of debt discounts. Amortization of debt issuance costs is to be reported as interest expense. The recognition and measurement guidance for debt issuance costs are not affected by the updated guidance. The Company adopted this ASU on January 1, 2016. The adoption of this guidance did not have a material effect on the Company's results of operations, financial position or liquidity. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis , which provides amended guidance on a reporting entity's evaluation whether to consolidate certain legal entities. Specifically, the amendments will modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIEs") or voting entities, eliminate the presumption that a general partner should consolidate a limited partnership, affect the consolidation analysis of reporting entities with interests in VIEs, particularly those that have fee arrangements and related party relationships, and provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The Company adopted this ASU on January 1, 2016. The adoption of this guidance did not have a material effect on the Company's results of operations, financial position or liquidity. Recent Accounting Standards, Not Yet Adopted In August 2016, due to divergent practices for reporting certain cash receipts and cash payments on the statement of cash flows, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments . The update provides guidance and clarification for eight specific cash flow issues, which include debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate and bank owned life insurance policies, distributions received from equity-method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. The update takes effect for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company is currently evaluating the impact this guidance will have on its results of operations, financial position or liquidity. In June 2016, the FASB completed its Financial Instruments—Credit Losses project by issuing ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) . The new guidance requires organizations to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. The new guidance affects loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company is currently evaluating the impact this guidance will have on its results of operations, financial position or liquidity. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or a liability, and classification on the statement of cash flows. The updated guidance is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact this guidance will have on its results of operations, financial position or liquidity. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations , which improves the operability and understandability of the implementation guidance on principal versus agent considerations by clarifying that 1) an entity determines whether it is a principal or an agent for each specific good or service promised to the customer; 2) an entity determines the nature of each specific good or service; 3) when another party is involved in providing goods or services to a customer, an entity that is a principal obtains control of (a) a good or another asset from the other party that it then transfers to the customer, (b) a right to a service that will be performed by another party, which gives the entity the ability to direct that party to provide the service to the customer on the entity's behalf, or (c) a good or service from the other party that is combined with other goods or services to provide the specific good or service to the customer; and 4) the purpose of the indicators in paragraph 606-10-55-39 in Topic 606 is to support or assist in the assessment of control. The effective date and transition requirement for this ASU are the same as the effective date and transition requirements of ASU 2014-09, which were deferred to the quarter ending March 31, 2018 by ASU 2015-14. The Company is currently evaluating the impact this guidance will have on its results of operations, financial position or liquidity. In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments , which clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. An entity performing the assessment under the amended guidance in this ASU is required to assess the embedded call (put) options solely in accordance with the four-step decision sequence prescribed by Topic 815. The updated guidance is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. This ASU should be applied on a modified retrospective basis. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact this guidance will have on its results of operations, financial position or liquidity. In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships , which clarifies that a change in the counterparty to a derivative instrument that has been designated as a hedging instrument under Topic 815 does not, in and of itself, require designation of that hedging relationship provided that all other hedge accounting criteria continue to be met. The updated guidance is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The adoption of this guidance is not expected to have a material effect on the Company's results of operations, financial position or liquidity. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires a lessee to recognize a right of use asset and a lease liability on the balance sheet for leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The updated guidance is effective for fiscal years beginning after December 31, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is currently evaluating the impact this guidance will have on its results of operations, financial position or liquidity. In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , which address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Specifically, the guidance (a) requires equity investments to be measured at fair value with changes in fair value recognized in earnings. However, an entity may choose to measure equity investments that do not have readily determinable fair value at cost minus impairment, if any, plus or minus changes resulted from observable price changes in orderly transactions for identical or similar investments of the same issuer, (b) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, (c) eliminates the requirement to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost, (d) requires the use of the exit price notion when measuring the fair value of financial instruments for disclosure purposes, (e) requires an entity to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option, (f) requires separate presentation of financial assets and liabilities by measurement category and form on the balance sheet or the notes to the financial statements, and (g) clarifies that the need for a valuation allowance on a deferred tax asset related to an available for sale security should be evaluated with other deferred tax assets. The updated guidance is effective for reporting periods beginning after December 15, 2017. The Company is currently evaluating the impact this guidance will have on its results of operations, financial position or liquidity. In May 2015, the FASB issued ASU 2015-09, Financial Services - Insurance (Topic 944): Disclosure about Short-Duration Contracts , which provides certain new and additional disclosure requirements about the liability for unpaid claims and claim adjustment expenses associated with short-duration contracts as defined in Topic 944. Pursuant to the updated guidance, all insurance entities that issue short-duration contracts are required to disclose, among other things, incurred and paid claims development information, a reconciliation of such information to the aggregate carrying amount of the liability for unpaid claims and claim adjustment expenses, and significant changes in methodologies and assumptions used to calculate the liability for unpaid claims and claim adjustment expenses, including the reasons for the change and the effects on the financial statements. The updated guidance was effective for reporting periods beginning after December 15, 2015, and is applied retrospectively by providing comparative disclosures for each period presented, except for those requirements that apply only to the current period. The adoption of this guidance did not have a material effect on the Company's results of operations, financial position or liquidity.

Investments

Investments	9 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Investments	Investments (a) Available-for-Sale Securities The cost or amortized cost, gross unrealized gains and losses, and estimated fair value of fixed maturities and equity securities classified as available-for-sale as of September 30, 2016 and December 31, 2015 , are presented below: (Amounts in Thousands) Cost or amortized cost Gross unrealized gains Gross unrealized losses Fair Value Preferred stock $ 4,044 $ — $ (48 ) $ 3,996 Common stock 155,967 12,067 (6,287 ) 161,747 U.S. treasury securities 292,558 3,179 (16 ) 295,721 U.S. government agencies 7,567 112 — 7,679 Municipal bonds 850,475 26,974 (1,460 ) 875,989 Foreign government 134,355 8,435 (528 ) 142,262 Corporate bonds: Finance 1,511,610 70,747 (12,751 ) 1,569,606 Industrial 2,087,449 114,255 (18,256 ) 2,183,448 Utilities 207,328 8,244 (1,869 ) 213,703 Commercial mortgage backed securities 174,224 6,143 (650 ) 179,717 Residential mortgage backed securities: Agency backed 1,028,335 32,991 (81 ) 1,061,245 Non-agency backed 61,910 1,662 (377 ) 63,195 Collateralized loan / debt obligations 419,597 7,694 (1,622 ) 425,669 Asset-backed securities 24,886 814 (119 ) 25,581 $ 6,960,305 $ 293,317 $ (44,064 ) $ 7,209,558 (Amounts in Thousands) Cost or amortized cost Gross unrealized gains Gross unrealized losses Fair value Preferred stock $ 4,869 $ 150 $ (30 ) $ 4,989 Common stock 104,477 3,816 (8,785 ) 99,508 U.S. treasury securities 69,547 1,470 (258 ) 70,759 U.S. government agencies 45,586 235 (263 ) 45,558 Municipal bonds 530,004 11,952 (1,530 ) 540,426 Foreign government 109,645 4,912 (812 ) 113,745 Corporate bonds: Finance 1,358,765 38,058 (34,393 ) 1,362,430 Industrial 1,706,772 20,542 (80,251 ) 1,647,063 Utilities 157,067 1,548 (9,115 ) 149,500 Commercial mortgage backed securities 151,164 1,334 (1,180 ) 151,318 Residential mortgage backed securities: Agency backed 964,059 14,912 (4,133 ) 974,838 Non-agency backed 124,046 322 (4,139 ) 120,229 Collateralized loan / debt obligation 232,245 10 (6,161 ) 226,094 Asset backed securities 33,142 4 (1,309 ) 31,837 $ 5,591,388 $ 99,265 $ (152,359 ) $ 5,538,294 Investments in foreign government securities include securities issued by national entities as well as instruments that are unconditionally guaranteed by such entities. As of September 30, 2016 , the Company's foreign government securities were issued or guaranteed primarily by governments in Europe, Canada and Mexico. Proceeds from the sale of investments in available-for-sale securities during the three months ended September 30, 2016 and 2015 were approximately $647,928 and $417,517 , respectively. Proceeds from the sale of investments in available-for-sale securities during the nine months ended September 30, 2016 and 2015 were approximately $1,648,193 and $990,087 , respectively. A summary of the Company’s available-for-sale fixed maturities as of September 30, 2016 and December 31, 2015 , by contractual maturity, is shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. September 30, 2016 December 31, 2015 (Amounts in Thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 257,764 $ 258,760 $ 125,563 $ 124,763 Due after one through five years 1,487,745 1,523,695 913,365 909,634 Due after five through ten years 2,947,206 3,091,368 2,586,061 2,537,734 Due after ten years 398,638 414,597 352,397 357,288 Mortgage and asset backed securities 1,708,941 1,755,395 1,504,656 1,504,378 Total fixed maturities $ 6,800,294 $ 7,043,815 $ 5,482,042 $ 5,433,797 The total other-than-temporary impairment ("OTTI") charges of our fixed maturities and equity securities classified as available-for-sale is presented below: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Equity securities recognized in earnings $ 3,021 $ 84 $ 19,977 $ 1,276 Fixed-maturity securities recognized in earnings — 7,552 — 8,842 Other investments 6,440 — 6,440 — $ 9,461 $ 7,636 $ 26,417 $ 10,118 The tables below summarize the gross unrealized losses of our fixed maturity and equity securities by length of time the security has continuously been in an unrealized loss position as of September 30, 2016 and December 31, 2015 : Less Than 12 Months 12 Months or More Total (Amounts in Thousands) Fair Market Value Unrealized Losses No. of Positions Held Fair Market Value Unrealized Losses No. of Positions Held Fair Market Value Unrealized Losses Common and preferred stock $ 49,144 $ (6,039 ) 100 $ 1,279 $ (297 ) 24 $ 50,423 $ (6,336 ) U.S. treasury securities 26,829 (15 ) 19 649 (1 ) 1 27,478 (16 ) U.S. government agencies 178 — 2 — — — 178 — Municipal bonds 103,790 (895 ) 98 12,175 (565 ) 24 115,965 (1,460 ) Foreign government 10,311 (528 ) 12 — — — 10,311 (528 ) Corporate bonds: Finance 203,687 (11,638 ) 121 50,990 (1,113 ) 27 254,677 (12,751 ) Industrial 237,197 (14,607 ) 126 87,030 (3,647 ) 54 324,227 (18,254 ) Utilities 22,028 (1,116 ) 21 8,922 (754 ) 4 30,950 (1,870 ) Commercial mortgage backed securities 13,077 (216 ) 12 12,202 (435 ) 38 25,279 (651 ) Residential mortgage backed securities: Agency backed 9,265 (59 ) 27 2,414 (22 ) 22 11,679 (81 ) Non-agency backed 17,544 (376 ) 18 63 (2 ) 2 17,607 (378 ) Collateralized loan / debt obligations 47,636 (273 ) 19 60,349 (1,349 ) 23 107,985 (1,622 ) Asset-backed securities 9,462 (116 ) 19 510 (3 ) 6 9,972 (119 ) Total temporarily impaired securities $ 750,148 $ (35,878 ) 594 $ 236,583 $ (8,188 ) 225 $ 986,731 $ (44,066 ) Less Than 12 Months 12 Months or More Total (Amounts in Thousands) Fair Market Value Unrealized Losses No. of Positions Held Fair Market Value Unrealized Losses No. of Positions Held Fair Market Value Unrealized Losses Common and preferred stock $ 59,302 $ (8,711 ) 67 $ 402 $ (104 ) 2 $ 59,704 $ (8,815 ) U.S. treasury securities 31,658 (232 ) 77 2,586 (26 ) 8 34,244 (258 ) U.S. government agencies 22,412 (262 ) 20 182 (1 ) 2 22,594 (263 ) Municipal bonds 121,550 (867 ) 111 17,163 (663 ) 30 138,713 (1,530 ) Foreign government 18,598 (688 ) 27 5,977 (124 ) 1 24,575 (812 ) Corporate bonds: Finance 604,898 (33,068 ) 349 59,020 (1,325 ) 22 663,918 (34,393 ) Industrial 858,632 (65,887 ) 633 82,495 (14,364 ) 55 941,127 (80,251 ) Utilities 79,358 (5,305 ) 113 7,712 (3,810 ) 5 87,070 (9,115 ) Commercial mortgage backed securities 35,405 (1,079 ) 100 2,870 (101 ) 6 38,275 (1,180 ) Residential mortgage backed securities: Agency backed 334,224 (2,788 ) 163 35,446 (1,345 ) 29 369,670 (4,133 ) Non-agency backed 95,001 (4,077 ) 39 4,023 (62 ) 4 99,024 (4,139 ) Collateralized loan / debt obligations 201,086 (6,161 ) 78 — — — 201,086 (6,161 ) Asset-backed securities 30,302 (1,309 ) 70 — — — 30,302 (1,309 ) Total temporarily impaired securities $ 2,492,426 $ (130,434 ) 1,847 $ 217,876 $ (21,925 ) 164 $ 2,710,302 $ (152,359 ) There are 819 and 2,011 securities at September 30, 2016 and December 31, 2015 , respectively, that account for the gross unrealized loss, none of which is deemed by the Company to be OTTI. At September 30, 2016 , the Company determined that the unrealized losses on fixed maturities were primarily due to market interest rate movements since their date of purchase. The Company considers an investment, primarily equity securities, to be impaired when it has been in a significant unrealized loss position (in excess of 35% of cost if the issuer has a market capitalization of under $1,000,000 and in excess of 25% of cost if the issuer has a market capitalization of $1,000,000 or more) for over 24 months. Additionally, other factors influencing the Company’s determination that unrealized losses were temporary included an evaluation of the investment’s discounted cash flows, the magnitude of the unrealized losses in relation to each security’s cost, near-term and long-term prospects of the issuer or the issuer's ability to have adequate resources to fulfill contractual obligations, the nature of the investment and management’s intent not to sell these securities, and it being not more likely than not that the Company will be required to sell these investments before anticipated recovery of fair value to the Company’s cost basis. As of September 30, 2016 , for the $8,188 of unrealized losses related to securities in unrealized loss positions for a period of twelve or more consecutive months, $800 of those unrealized losses were related to securities in unrealized loss positions greater than or equal to 20% of amortized cost or cost. (b) Trading Securities The original or amortized cost, estimated market value and gross unrealized appreciation and depreciation of trading securities as of September 30, 2016 and December 31, 2015 are presented in the tables below: (Amounts in Thousands) Cost or amortized cost Gross unrealized gains Gross unrealized losses Market value Common stock $ 34,091 $ 788 $ (440 ) $ 34,439 (Amounts in Thousands) Cost or amortized cost Gross unrealized gains Gross unrealized losses Market value Common stock $ 26,937 $ 739 $ (405 ) $ 27,271 Proceeds from the sale of investments in trading securities during the three months ended September 30, 2016 and 2015 were approximately $47,177 and $53,398 , respectively. Proceeds from the sale of investments in trading securities during the nine months ended September 30, 2016 and 2015 were approximately $155,502 and $161,723 , respectively. (c) Investment Income Net investment income for the three and nine months ended September 30, 2016 and 2015 was derived from the following sources: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Fixed maturities, available-for-sale $ 59,712 $ 39,452 $ 152,140 $ 107,404 Equity securities, available-for-sale 465 1,183 6,927 2,253 Equity securities, trading (40 ) (640 ) (318 ) (600 ) Cash and short term investments 410 844 2,182 3,432 60,547 40,839 160,931 112,489 Investment expenses (628 ) (414 ) (852 ) (1,208 ) $ 59,919 $ 40,425 $ 160,079 $ 111,281 (d) Realized Gains and Losses The tables below summarize the gross realized gains and (losses) for the three and nine months ended September 30, 2016 and 2015 : (Amounts in Thousands) Three Months Ended September 30, 2016 Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 17,535 $ (2,582 ) $ 14,953 Equity securities, available-for-sale 553 (1,126 ) (573 ) Equity securities, trading 2,897 (1,902 ) 995 Other investments 3,449 (1,133 ) 2,316 Write-down of other invested assets — (6,440 ) (6,440 ) Write-down of equity securities, available-for-sale — (3,021 ) (3,021 ) $ 24,434 $ (16,204 ) $ 8,230 (Amounts in Thousands) Three Months Ended September 30, 2015 Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 21,435 $ (5,060 ) $ 16,375 Equity securities, available-for-sale — (326 ) (326 ) Equity securities, trading 12,310 (3,041 ) 9,269 Write-down of fixed maturities, available-for-sale — (7,552 ) (7,552 ) Write-down of equity securities, available-for-sale — (84 ) (84 ) $ 33,745 $ (16,063 ) $ 17,682 (Amounts in Thousands) Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 57,346 $ (4,199 ) $ 53,147 Equity securities, available-for-sale 1,821 (1,862 ) (41 ) Equity securities, trading 17,824 (14,396 ) 3,428 Other investments 1,189 (2 ) 1,187 Write-down of equity securities, available-for-sale — (19,977 ) (19,977 ) Write-down of other investments — (6,440 ) (6,440 ) $ 78,180 $ (46,876 ) $ 31,304 (Amounts in Thousands) Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 41,979 $ (12,902 ) $ 29,077 Equity securities, available-for-sale 2,184 (1,955 ) 229 Equity securities, trading 19,047 (7,542 ) 11,505 Write-down of fixed maturities, available-for-sale — (8,842 ) (8,842 ) Write-down of equity securities, available-for-sale — (1,276 ) (1,276 ) $ 63,210 $ (32,517 ) $ 30,693 (e) Derivatives The Company from time to time invests in a limited number of derivatives and other financial instruments as part of its investment portfolio to manage interest rate changes or other exposures to a particular financial market. The Company records changes in valuation on its derivative positions not designated as a hedge, if any, as a component of net realized gains and losses. The Company records changes in valuation on its hedge positions as a component of other comprehensive income. The Company had two interest rate swaps designated as a hedge in the total amount of $460 and $1,077 as of September 30, 2016 and December 31, 2015, respectively, that were included as a component of accrued expenses and other liabilities. The two interest rate swaps at December 31, 2015, one of which matured during the three months ended September 30, 2016 , related to the Company's junior subordinated debentures. During the nine months ended September 30, 2016, the Company entered into an interest rate swap agreement related to a five -year secured term loan agreement with Lloyd's Bank PLC to finance the purchase of a commercial office building in Nottingham, U.K. The interest rate swap covers a notional amount equal to 70% of the original outstanding balance and converts the LIBOR variable component of the Company’s interest rate to a fixed rate. The following table presents the notional amounts by remaining maturity of the Company’s interest rate swaps as of September 30, 2016 : Remaining Life of Notional Amount (1) (Amounts in Thousands) One Year Two Through Five Years Six Through Ten Years After Ten Years Total Interest rate swaps $ 40,000 $ 7,591 $ — $ — $ 47,591 (1) Notional amount is not representative of either market risk or credit risk and is not recorded in the consolidated balance sheet. (f) Restricted Cash and Investments The Company, in order to conduct business in certain states, is required to maintain letters of credit or assets on deposit to support state mandated regulatory requirements and certain third party agreements. The Company also utilizes trust accounts to collateralize business with its reinsurance counterparties. These assets are primarily in the form of cash and certain high grade securities. The fair values of the Company's restricted assets as of September 30, 2016 and December 31, 2015 are as follows: (Amounts in Thousands) September 30, 2016 December 31, 2015 Restricted cash and cash equivalents $ 557,159 $ 380,699 Restricted investments - fixed maturities at fair value 1,880,536 1,490,547 Total restricted cash, cash equivalents, and investments $ 2,437,695 $ 1,871,246 (g) Other Securities sold but not yet purchased are securities that the Company has sold, but does not own, in anticipation of a decline in the market value of the security. The Company's risk is that the value of the security will increase rather than decline. Consequently, the settlement amount of the liability for securities sold, not yet purchased may exceed the amount recorded in the consolidated balance sheet as the Company is obligated to purchase the securities sold, not yet purchased in the market at prevailing prices to settle the obligations. To establish a position in security sold, not yet purchased, the Company needs to borrow the security for delivery to the buyer. When the transaction is open, the liability for the obligation to replace the borrowed security is marked to market and an unrealized gain or loss is recorded. At the time the transaction is closed, the Company realizes a gain or loss equal to the differences between the price at which the security was sold and the cost of replacing the borrowed security. While the transaction is open, the Company will also incur an expense for any dividends or interest which will be paid to the lender of the securities. The Company’s liability for securities to be delivered is measured at their fair value and was $23,770 and $38,618 as of September 30, 2016 and December 31, 2015 , respectively. The securities sold but not yet purchased consisted primarily of equity and fixed maturity securities, and the liability for securities sold but not yet purchased is included in accrued expenses and other liabilities in the consolidated balance sheet. As of September 30, 2016 and December 31, 2015, the Company had no repurchase agreements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The following tables present the level within the fair value hierarchy at which the Company’s financial assets and financial liabilities are measured on a recurring basis as of September 30, 2016 and December 31, 2015 : (Amounts in Thousands) Total Level 1 Level 2 Level 3 Assets: U.S. treasury securities $ 295,721 $ 295,721 $ — $ — U.S. government agencies 7,679 — 7,679 — Municipal bonds 875,989 — 875,989 — Foreign government 142,262 — 142,262 — Corporate bonds and other bonds: Finance 1,569,606 — 1,569,606 — Industrial 2,183,448 — 2,183,448 — Utilities 213,703 — 213,703 — Commercial mortgage backed securities 179,717 — 171,846 7,871 Residential mortgage backed securities: Agency backed 1,061,245 — 1,061,245 — Non-agency backed 63,195 — 63,195 — Collateralized loan / debt obligations 425,669 — 403,936 21,733 Asset-backed securities 25,581 — 25,581 — Equity securities, available-for-sale 165,743 111,489 21,075 33,179 Equity securities, trading 34,439 34,439 — — Short term investments 49,008 49,008 — — Other investments 40,267 — — 40,267 Life settlement contracts 332,085 — — 332,085 $ 7,665,357 $ 490,657 $ 6,739,565 $ 435,135 Liabilities: Equity securities sold but not yet purchased $ 23,770 $ 23,770 $ — $ — Life settlement contract profit commission 4,817 — — 4,817 Contingent consideration 59,267 — — 59,267 Derivatives 460 — 460 — $ 88,314 $ 23,770 $ 460 $ 64,084 (Amounts in Thousands) Total Level 1 Level 2 Level 3 Assets: U.S. treasury securities $ 70,759 $ 70,759 $ — $ — U.S. government agencies 45,558 — 45,558 — Municipal bonds 540,426 — 540,426 — Foreign government 113,745 — 113,745 — Corporate bonds and other bonds: Finance 1,362,430 — 1,362,430 — Industrial 1,647,063 — 1,647,063 — Utilities 149,500 — 149,500 — Commercial mortgage backed securities 151,318 — 151,318 — Residential mortgage backed securities: Agency backed 974,838 — 974,838 — Non-agency backed 120,229 — 120,229 — Collateralized loan / debt obligations 226,094 — 226,094 — Asset-backed securities 31,837 — 31,837 — Equity securities, available-for-sale 104,497 38,563 28,723 37,211 Equity securities, trading 27,271 27,271 — — Short term investments 84,266 84,266 — — Other investments 30,309 — — 30,309 Life settlement contracts 264,001 — — 264,001 $ 5,944,141 $ 220,859 $ 5,391,761 $ 331,521 Liabilities: Equity securities sold but not yet purchased $ 18,163 $ 18,163 $ — $ — Fixed maturity securities sold but not yet purchased 20,455 — 20,455 — Life settlement contract profit commission 15,406 — — 15,406 Contingent consideration 77,457 — — 77,457 Derivatives 1,077 — 1,077 — $ 132,558 $ 18,163 $ 21,532 $ 92,863 There were no transfers between Level 1 and Level 2 during the nine months ended September 30, 2016 and 2015 , respectively. The Company classifies its financial assets and liabilities in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. This classification requires judgment in assessing the market and pricing methodologies for a particular security. The fair value hierarchy includes the following three levels: • Level 1 – Valuations are based on unadjusted quoted market prices in active markets for identical financial assets or liabilities. Examples of instruments utilizing Level 1 inputs include: exchange-traded securities and U.S. Treasury bonds. • Level 2 – Valuations of financial assets and liabilities are based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets obtained from third party pricing services or valuations based on models where the significant inputs are observable (e.g., interest rates, yield curves, prepayment speeds, default rates, loss severities, etc.) or can be corroborated by observable market data. The fair value of securities in this category are determined by management after reviewing market prices obtained from independent pricing services and brokers. Examples of instruments utilizing Level 2 inputs include: U.S. government-sponsored agency securities; non-U.S. government obligations; corporate and municipal bonds; mortgage-backed bonds; asset-backed securities; listed derivatives that are not actively traded; and equity securities that are not publicly traded. • Level 3 – While the vast majority of the Company's investments are included in Level 2, the Company holds a number of investments that are not valued by a pricing service and estimates the fair value of these investments using various broker/dealers that use bid or ask prices. Due to the limited amount of observable market information, the Company includes the fair value estimates for these particular investments in Level 3. In conjunction with our investment portfolio managers, these fair value measurements are reviewed for reasonableness. Other investment valuations are based on unobservable inputs for assets and liabilities where there is little or no market activity. Management’s assumptions are used in internal valuation pricing models to determine the fair value of financial assets or liabilities, which may include projected cash flows, collateral performance or liquidity circumstances in the security or similar securities that may have occurred since the prior pricing period. Examples of instruments utilizing Level 3 inputs include: hedge and credit funds with partial transparency. The following tables provides a summary of changes in fair value of the Company’s Level 3 financial assets and liabilities for the three and nine months ended September 30, 2016 and 2015 : (Amounts in Thousands) Balance as of June 30, 2016 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of September 30, Other investments $ 38,039 $ (6,403 ) $ 6,124 $ 249 $ (79 ) $ 2,337 $ 40,267 Equity securities, available-for-sale 24,764 (16,983 ) 17,168 (2 ) (7,753 ) 15,985 33,179 Commercial mortgage backed securities — — (194 ) — — 8,065 7,871 Collateralized loan / debt obligations — — (15 ) — — 21,748 21,733 Life settlement contracts 304,434 23,290 — 4,550 (189 ) — 332,085 Life settlement contract profit commission (9,054 ) (763 ) — — 5,000 — (4,817 ) Contingent consideration (64,817 ) (400 ) — (5,443 ) 11,393 — (59,267 ) Total $ 293,366 $ (1,259 ) $ 23,083 $ (646 ) $ 8,372 $ 48,135 $ 371,051 (Amounts in Thousands) Balance as of December 31, 2015 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of September 30, Other investments $ 30,309 $ (7,889 ) $ 6,124 $ 944 $ (365 ) $ 11,144 $ 40,267 Equity securities, available-for-sale 37,211 (16,983 ) 4,719 — (7,753 ) 15,985 33,179 Commercial mortgage backed securities — — (194 ) — — 8,065 7,871 Collateralized loan / debt obligations — — (15 ) — — 21,748 21,733 Life settlement contracts 264,001 82,451 — 15,880 (30,247 ) — 332,085 Life settlement contract profit commission (15,406 ) (9,817 ) — — 20,406 — (4,817 ) Contingent consideration (77,457 ) (2,746 ) — (13,903 ) 34,839 — (59,267 ) Total $ 238,658 $ 45,016 $ 10,634 $ 2,921 $ 16,880 $ 56,942 $ 371,051 (Amounts in Thousands) Balance as of June 30, 2015 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of September 30, 2015 Other investments $ 14,759 $ (793 ) $ (5,300 ) $ 160 $ — $ 13,000 $ 21,826 Equity securities, available-for-sale 40,232 — 3 — (46 ) — 40,189 Life settlement contracts 267,393 13,875 — — (10,019 ) — 271,249 Life settlement contract profit commission (16,994 ) 1,175 — — — — (15,819 ) Contingent consideration (76,790 ) 68 — 403 11,261 — (65,058 ) Total $ 228,600 $ 14,325 $ (5,297 ) $ 563 $ 1,196 $ 13,000 $ 252,387 (Amounts in Thousands) Balance as of December 31, 2014 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of September 30, 2015 Other investments $ 13,315 $ (379 ) $ (5,300 ) $ 1,527 $ (337 ) $ 13,000 $ 21,826 Equity securities, available-for-sale 34,886 — 5,395 — (92 ) 40,189 Life settlement contracts 264,517 52,765 — — (46,033 ) — 271,249 Life settlement contract profit commission (16,534 ) 715 — — — — (15,819 ) Contingent consideration (41,704 ) 68 — (44,557 ) 21,135 — (65,058 ) Total $ 254,480 $ 53,169 $ 95 $ (43,030 ) $ (25,327 ) $ 13,000 $ 252,387 The Company's policy for transferring investments between the fair value hierarchy levels is to recognize such transfers in the period that the event or change in circumstances occurred. During the three and nine months ended September 30, 2016, the Company transferred $48,135 and $56,942 , respectively, from Level 2 to Level 3 because of unobservable inputs or lack of market activity existed for these specific securities that were transferred. A reconciliation of net income for life settlement contracts in the above table to gain on investment in life settlement contracts net of profit commission included in the Consolidated Statements of Income for the three and nine months ended September 30, 2016 and 2015 is as follows: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Net income $ 23,290 $ 13,875 $ 82,451 $ 52,765 Premiums paid (16,434 ) (11,326 ) (41,890 ) (33,614 ) Profit commission (763 ) 1,175 (9,817 ) 715 Other expenses (608 ) 892 (1,853 ) (781 ) Gain on investment in life settlement contracts $ 5,485 $ 4,616 $ 28,891 $ 19,085 The Company uses the following methods and assumptions in estimating its fair value disclosures for financial instruments: • Equity and Fixed Income Investments: Fair value disclosures for these investments are disclosed above in this note. As of September 30, 2016 , the Company's Level 3 equity securities consisted primarily of privately placed warrants of companies that have publicly traded common stock. The fair value of these equity securities as of September 30, 2016 was derived from the quoted price of the underlying common stock adjusted for other inputs that are not market observable. • Cash and cash equivalents, restricted cash and cash equivalents, and short term investments: The carrying value of cash and cash equivalents, restricted cash and cash equivalents, and short term investments approximate their respective fair value and are classified as Level 1 in the fair value hierarchy. • Premiums Receivable: The carrying values reported in the accompanying balance sheets for these financial instruments approximate their fair values due to the short term nature of the asset and are classified as Level 1 in the fair value hierarchy. • Other Investments: Other investments that are reported at fair value consisted primarily of investments in private limited partnerships, certain foreign investments, and other. Other investments reported at fair value accounted for approximately 0.4% of the Company's investment portfolio as of September 30, 2016 , which the Company believes is immaterial to its overall financial position or its results of operations. The Company estimates the fair value based on significant unobservable inputs in the valuation process. As a result, the Company classified the fair value estimates as Level 3 in the fair value hierarchy. • Equity Investment in Unconsolidated Subsidiaries - Related Party: The Company has an ownership percentage of approximately 12% in National General Holdings Corp. ("NGHC"), a publicly held insurance holding company (Nasdaq: NGHC). The Company accounts for this investment under the equity method of accounting as it has the ability to exert significant influence on NGHC. The fair value and carrying value of the investment was approximately $273,450 and $153,040 , respectively, as of September 30, 2016 . • Subordinated Debentures and Debt: The fair value of the Company's material debt arrangements as of September 30, 2016 was as follows: Carrying Value Fair Value 7.25% Subordinated Notes due 2055 $ 145,171 $ 156,180 7.50% Subordinated Notes due 2055 130,656 146,826 2.75% Convertible senior notes due 2044 164,828 202,984 6.125% Notes due 2023 248,116 268,125 Junior subordinated debentures due 2035-2037 122,006 90,310 Trust preferred securities due 2033-2037 92,786 92,739 Republic promissory note 104,685 106,562 Revolving credit facility 130,000 130,000 Other 97,068 97,068 The 7.25% subordinated notes due 2055, the 7.50% subordinated notes due 2055, the 2.75% convertible senior notes due 2044, and the 6.125% notes due 2023 are publicly traded instruments and are classified as Level 1 in the fair value hierarchy. The fair value of the junior subordinated debentures due 2035-2037 and Republic's trust preferred securities due 2033-2037 were determined using the Black-Derman-Toy interest rate lattice model and are classified as Level 3 in the fair value hierarchy. In determining the fair value of its remaining debt, the Company uses estimates based on rates currently available to the Company for debt with similar terms and remaining maturities. Accordingly, the fair value of the Republic promissory note and other debt is classified as Level 2 within the valuation hierarchy. The Company considers its other debt's carrying value to approximate fair value as their interest rates approximate current borrowing rates. • Derivatives: The Company classifies interest rate swaps as Level 2 in the fair value hierarchy. The Company uses these interest rate swaps to hedge floating interest rates on its debt, thereby changing the variable rate exposure to a fixed rate exposure for interest on these obligations. The estimated fair value of the interest rate swaps, which is obtained from a third party pricing service, is measured using discounted cash flow analysis that incorporates significant observable inputs, including the LIBOR forward curve and a measurement of volatility. • Contingent consideration: The fair value of contingent consideration is based on a discounted cash flow methodology and is classified as Level 3 in the fair value hierarchy. The range of discount rates used for contingent consideration was primarily between 8% and 14% . • Life settlement contracts and life settlement contract profit commission: Life settlement contracts are described in Note 5. "Investments in Life Settlements" elsewhere in this report. The fair value of life settlement contracts as well as life settlement profit commission liability is based on information available to the Company at the end of the reporting period. These financial instruments are classified as Level 3 in the fair value hierarchy. The Company considers the following factors in its fair value estimates: cost at date of purchase, recent purchases and sales of similar investments (if available and applicable), financial standing of the issuer, changes in economic conditions affecting the issuer, maintenance cost, premiums, benefits, standard actuarially developed mortality tables and life expectancy reports prepared by nationally recognized and independent third party medical underwriters. The Company estimates the fair value of a life insurance policy by applying an investment discount rate based on the cost of funding the Company's life settlement contracts as compared to returns on investments in asset classes with comparable credit quality, which the Company has determined to be 7.5% , to the expected cash flow generated by the policies in the Company's life settlement portfolio (death benefits less premium payments), net of policy specific adjustments and reserves. In order to confirm the integrity of their calculation of fair value, the Company, quarterly, retains an independent third-party actuary to verify that the actuarial modeling used by the Company to determine fair value was performed correctly and that the valuation, as determined through the Company's actuarial modeling, is consistent with other methodologies. The Company considers this information in its assessment of the reasonableness of the life expectancy and discount rate inputs used in the valuation of these investments. The Company adjusts the standard mortality for each insured for the insured's life expectancy based on reviews of the insured's medical records and the independent life expectancy reports based thereon. The Company establishes policy specific reserves for the following uncertainties: improvements in mortality, the possibility that the high net worth individuals represented in its portfolio may have access to better health care, the volatility inherent in determining the life expectancy of insureds with significant reported health impairments, and the future expenses related to the administration of the portfolio, which incorporates current life expectancy assumptions, premium payments, the credit exposure to the insurance company that issued the life settlement contracts and the rate of return that a buyer would require on the contracts as no comparable market pricing is available. Prior to 2015, the Company established policy specific reserves for the possibility that the issuer of the policy or a third party would contest the payment of the death benefit payable to the Company. The Company determined that the contestability reserve was no longer necessary in 2015 due to historical experience. The application of the investment discount rate to the expected cash flow generated by the portfolio, net of the policy specific reserves, yields the fair value of the portfolio. The effective discount rate reflects the relationship between the fair value and the expected cash flow gross of these reserves. The following summarizes data utilized in estimating the fair value of the portfolio of life insurance policies as of September 30, 2016 and December 31, 2015 , and only includes data for policies to which the Company assigned value at those dates: September 30, December 31, Average age of insured 82.7 years 82.0 years Average life expectancy, months (1) 107 114 Average face amount per policy (Amounts in thousands) $ 6,569 $ 6,564 Effective discount rate (2) 12.7 % 13.7 % (1) Standard life expectancy as adjusted for specific circumstances. (2) Effective discount rate ("EDR") is the Company's estimated internal rate of return on its life settlement contract portfolio and is determined from the gross expected cash flows and valuation of the portfolio. The valuation of the portfolio is calculated net of all reserves using a 7.5% discount rate. The EDR is inclusive of the reserves and the gross expected cash flows of the portfolio. The Company anticipates that the EDR's range is between 12.5% and 17.5% and reflects the uncertainty that exists surrounding the information available as of the reporting date. As the accuracy and reliability of information improves (declines), the EDR will decrease (increase). The Company's assumptions are, by their nature, inherently uncertain and the effect of changes in estimates may be significant. The fair value measurements used in estimating the present value calculation are derived from valuation techniques generally used in the industry that include inputs for the asset that are not based on observable market data. The extent to which the fair value could reasonably vary in the near term has been quantified by evaluating the effect of changes in significant underlying assumptions used to estimate the fair value amount. If the life expectancies were increased or decreased by 4 months and the discount factors were increased or decreased by 1% while all other variables were held constant, the carrying value of the investment in life insurance policies would increase or (decrease) by the unaudited amounts summarized below as of September 30, 2016 and December 31, 2015 : Change in life expectancy (Amounts in Thousands) Plus 4 Months Minus 4 Months Investment in life policies: September 30, 2016 $ (42,844 ) $ 46,044 December 31, 2015 $ (37,697 ) $ 40,997 Change in discount rate (1) (Amounts in Thousands) Plus 1% Minus 1% Investment in life policies: September 30, 2016 $ (28,584 ) $ 31,712 December 31, 2015 $ (26,558 ) $ 29,644 (1) Discount rate is a present value calculation that considers legal risk, credit risk and liquidity risk and is a component of EDR.

Investment in Life Settlements

Investment in Life Settlements	9 Months Ended
	Sep. 30, 2016
Investments, All Other Investments [Abstract]
Investment in Life Settlements	Investment in Life Settlements The Company has a 50% ownership interest in each of three entities (collectively, the "LSC Entities") formed for the purpose of acquiring life settlement contracts, with a subsidiary of NGHC owning the remaining 50% . The LSC Entities are: Tiger Capital LLC (“Tiger”); AMT Capital Alpha, LLC (“AMT Alpha”); and AMT Capital Holdings, S.A. (“AMTCH”). A life settlement contract is a contract between the owner of a life insurance policy and a third-party who obtains the ownership and beneficiary rights of the underlying life insurance policy. During the three months ended March 31, 2016, the Company terminated an agreement with a third party administrator of the Tiger and AMTCH life settlement contract portfolios, under which the third party received an administrative fee. The third party administrator was also eligible to receive a percentage of profits after certain time and performance thresholds had been met. The Company provides certain actuarial and finance functions related to the LSC Entities. In conjunction with the Company’s approximate 12% ownership percentage of NGHC, the Company ultimately receives 56% of the profits and losses of the LSC Entities. As such, in accordance with ASC 810-10, Consolidation, the Company has been deemed the primary beneficiary and, therefore, consolidate the LSC Entities. The Company accounts for investments in life settlements in accordance with ASC 325-30, Investments in Insurance Contracts , which states that an investor shall elect to account for its investments in life settlement contracts by using either the investment method or the fair value method. The election is made on an instrument-by-instrument basis and is irrevocable. The Company has elected to account for these policies using the fair value method. The Company determines fair value based upon its estimate of the discounted cash flow related to policies (net of the reserves for improvements in mortality, the possibility that the high net worth individuals represented in its portfolio may have access to better health care, the volatility inherent in determining the life expectancy of insureds with significant reported health impairments, and the future expenses related to the administration of the portfolio), which incorporates current life expectancy assumptions, premium payments, the credit exposure to the insurance company that issued the life settlement contracts and the rate of return that a buyer would require on the contracts as no comparable market pricing is available. Prior to 2015, the Company established policy specific reserves for the possibility that the issuer of the policy or a third party would contest the payment of the death benefit payable to the Company. The Company determined that the contestability reserve was no longer necessary in 2015 due to historical experience. The application of the investment discount rate to the expected cash flow generated by the portfolio, net of the policy specific reserves, yields the fair value of the portfolio. The effective discount rate reflects the relationship between the fair value and the expected cash flow gross of these reserves. Capital contributions were made to the LSC Entities during the three and nine months ended September 30, 2016 totaling $11,000 . The Company recorded a gain of $5,485 and $4,616 on investment in life settlement contracts, net of profit commission, for the three months ended September 30, 2016 and 2015, respectively, and $28,891 and $19,085 for the nine months ended September 30, 2016 and 2015. The following tables describe the Company’s investment in life settlements as of September 30, 2016 and December 31, 2015 : (Amounts in Thousands, except number of Life Settlement Contracts) Expected Maturity Term in Years Number of Life Settlement Contracts Fair Value (1) Face Value As of September 30, 2016 0-1 — $ — $ — 1-2 2 8,776 12,500 2-3 7 37,572 61,000 3-4 9 35,839 64,422 4-5 12 36,209 99,000 Thereafter 226 213,689 1,405,313 Total 256 $ 332,085 $ 1,642,235 (Amounts in Thousands, except number of Life Settlement Contracts) Expected Maturity Term in Years Number of Life Settlement Contracts Fair Value (1) Face Value As of December 31, 2015 0-1 — $ — $ — 1-2 — — — 2-3 8 31,261 70,500 3-4 8 20,117 46,500 4-5 4 6,760 20,000 Thereafter 235 205,863 1,481,313 Total 255 $ 264,001 $ 1,618,313 (1) The Company determined the fair value as of September 30, 2016 based on 224 policies out of 256 policies, as the Company assigned no value to 32 of the policies as of September 30, 2016 . The Company determined the fair value as of December 31, 2015 based on 213 policies out of 255 policies, as the Company assigned no value to 42 of the policies as of December 31, 2015 . The Company estimated the fair value of a life insurance policy using a cash flow model with an appropriate discount rate. In some cases, the cash flow model calculates the value of an individual policy to be negative, and therefore the fair value of the policy is zero as no liability exists when a negative value is calculated. The Company is not contractually bound to pay the premium on its life settlement contracts and, therefore, would not pay a willing buyer to assume title of these contracts. Additionally, certain of the Company's acquired policies were structured to have low premium payments at inception of the policy term, which later escalate greatly towards the tail end of the policy term. At the current time, the Company expenses all premium paid, even on policies with zero fair value. Once the premium payments escalate, the Company may allow the policies to lapse. In the event that death benefits are realized in the time frame between initial acquisition and premium escalation, it is a benefit to cash flow. For these contracts where the Company determined the fair value to be negative and therefore assigned a fair value of zero, the table below details the amount of premiums paid and the death benefits received during the twelve months preceding September 30, 2016 and December 31, 2015 : (Amounts in Thousands, except number of Life Settlement Contracts) September 30, 2016 December 31, 2015 Number of policies with a negative value from discounted cash flow model as of period end 32 42 Premiums paid for the preceding twelve month period for period ended $ 4,941 $ 4,971 Death benefit received $ — $ — Premiums to be paid by the LSC Entities for each of the five succeeding fiscal years to keep the life insurance policies in force as of September 30, 2016 , are as follows: (Amounts in Thousands) Premiums Due on Life Settlement Contracts 2016 $ 66,685 2017 46,386 2018 47,392 2019 44,589 2020 40,979 Thereafter 469,780 Total $ 715,811

Deferred Policy Acquisitions Co

Deferred Policy Acquisitions Costs	9 Months Ended
	Sep. 30, 2016
Insurance [Abstract]
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs The following table reflects the amounts of policy acquisition costs deferred and amortized for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Balance, beginning of period $ 873,641 $ 695,150 $ 704,243 $ 628,383 Acquisition costs deferred 289,790 190,632 820,154 582,091 Amortization (198,789 ) (171,556 ) (559,755 ) (496,248 ) Balance, end of period $ 964,642 $ 714,226 $ 964,642 $ 714,226

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt The Company’s outstanding debt consisted of the following at September 30, 2016 and December 31, 2015 : (Amounts in Thousands) September 30, 2016 December 31, 2015 Revolving credit facility $ 130,000 $ 130,000 5.5% Convertible senior notes due 2021 (the "2021 Notes") 5,190 5,103 2.75% Convertible senior notes due 2044 (the "2044 Notes") 164,828 160,258 6.125% Senior notes due 2023 (the "2023 Notes") 248,116 247,911 Junior subordinated debentures (the "2035-2037 Notes") 122,006 118,226 Trust preferred securities (the "2033-2037 TPS Notes") 92,786 — 7.25% Subordinated Notes due 2055 (the "7.25% 2055 Notes") 145,171 145,078 7.50% Subordinated Notes due 2055 (the "7.50% 2055 Notes") 130,656 130,572 Secured loan agreements 77,971 38,455 Promissory notes 118,592 13,753 $ 1,235,316 $ 989,356 Aggregate scheduled maturities of the Company’s outstanding debt, excluding unamortized deferred origination costs, at September 30, 2016 are: (Amounts in Thousands) 2016 $ 1,814 2017 33,766 2018 36,056 2019 160,939 2020 26,685 Thereafter 992,308 (1) Total scheduled payments 1,251,568 Unamortized deferred origination costs (16,252 ) 1,235,316 (1) Amount includes debt outstanding under the 2021 Notes and 2044 Notes, which is net of unamortized original issue discount of $764 and $47,440 , respectively. Additionally, the Company utilizes various letters of credit in its operations. The following is a summary of the Company's letters of credit as of September 30, 2016 : (Amounts in Thousands) Letters of Credit Limit Letters of Credit Outstanding Letters of Credit Available Revolving credit facility $ 175,000 $ 114,156 $ 60,844 Funds at Lloyd's facility, in USD equivalent 389,280 380,494 8,786 ING Bank N.V. and Deutsche Bank Netherlands N.V. facilities, in USD equivalent 88,404 63,217 25,187 Comerica bank letters of credit 75,000 48,134 26,866 Other letters of credit, in aggregate 1,550 1,550 — Interest expense, including amortization of original issue discount and deferred origination costs, as well as applicable bank fees, related to the Company's outstanding debt and letters of credit for the three and nine months ended September 30, 2016 and 2015 was: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Revolving credit facility $ 1,134 $ 1,092 $ 3,388 $ 2,636 Funds at Lloyd's facility 1,065 639 3,387 2,320 2021 Notes 116 117 345 711 2023 Notes 3,897 3,897 11,690 11,690 2035-2037 Notes 1,548 1,442 4,609 5,157 2033-2037 TPS Notes 981 — 1,750 — 2044 Notes 3,170 3,065 9,402 9,096 7.25% 2055 Notes 2,750 2,750 8,250 3,118 7.50% 2055 Notes 2,559 408 7,677 408 Secured loan agreements 756 212 1,768 671 Promissory notes 1,698 157 3,253 467 Other, including interest income 4,276 (917 ) 5,869 (3,511 ) $ 23,950 $ 12,862 $ 61,388 $ 32,763 Promissory Note On April 18, 2016, in connection with the acquisition of Republic Companies, Inc. and its affiliates ("Republic") , the Company issued a term promissory note ("TPM") to Delek Finance U.S. Inc. in the amount of $104,685 as part of the consideration. See Note 13. "Acquisitions" for a description of this transaction. The principal will be paid in four equal installments on each of the first four anniversaries of the issuance date. The note bears interest of 5.75% per annum and is payable from time to time based on the outstanding principal balance until the promissory note is fully paid. In the event that indebtedness under the Company's revolving credit facility or the Company's 2023 Notes is required to be paid on an accelerated basis, the holder of the TPM may cause the Company to repay unpaid principal and interest immediately. The Company recorded interest expense, including amortization of the deferred origination costs and fees associated with the loan agreement, of approximately $1,538 and $2,776 for the three and nine months ended September 30, 2016 , respectively. 2033-2037 TPS Notes In connection with the acquisition of Republic, the Company assumed Republic's outstanding trust preferred securities. Republic participated in the private placement of floating rate capital securities through five capital trusts. Each trust was created solely for the purpose of issuing trust preferred securities. Republic has guaranteed the payment by the trusts of distributions and other amounts under the capital securities to the extent that the trusts have funds available for such payments. The trusts invested the proceeds from the private placement in junior subordinated debentures issued by Republic. The trusts must redeem the capital securities when the debentures are paid at maturity or upon any earlier prepayment of the debentures. The debentures may be prepaid if certain events occur, including a change in the tax status or regulatory capital treatment of the capital securities or a change in the existing laws that require the trusts to register as an investment company. Under the provisions of the debentures, the Company has the right to defer payment of interest on the debentures at any time, or from time to time, for up to twenty consecutive quarterly periods. If interest payments on the debentures are deferred, the distributions on the capital securities will also be deferred. In accordance with FASB ASC 810-10-25, the Company does not consolidate such special purpose trusts, as the Company is not considered to be the primary beneficiary. The equity investment, totaling $2,786 as of September 30, 2016 on the Company's balance sheet, represents the Company's ownership of common securities issued by the trusts. The table below summarizes the Company’s trust preferred securities assumed in the Republic acquisition as of September 30, 2016 : (Amounts in Thousands) Aggregate Aggregate Aggregate Stated Per Annum RIG Capital Trust I $ 10,000 $ 310 $ 10,310 9/30/2033 4.631 (1) RIG Capital Statutory Trust II 20,000 619 20,619 10/29/2033 4.449 (2) RIG Capital Trust III 20,000 619 20,619 12/15/2036 3.853 (3) RIG Capital Trust IV 25,000 774 25,774 6/15/2037 3.853 (3) RIG Capital Trust V 15,000 464 15,464 9/15/2037 3.950 (4) Total trust preferred securities $ 90,000 $ 2,786 $ 92,786 (1) The interest rate is three-month LIBOR plus 4.00% . (2) The interest rate is three-month LIBOR plus 3.85% . (3) The interest rate is three-month LIBOR plus 3.20% . (4) The interest rate is three-month LIBOR plus 3.30% . Secured Loan Agreements On April 7, 2016, the Company entered into a ten -year secured loan agreement with Citigroup Global Markets Realty Corp., in the aggregate amount of $29,000 . The loan is secured by a commercial office building the Company owns in Dallas, Texas. The loan bears interest at a fixed rate of 4.96% per annum and requires monthly interest only payments of approximately $169 through May 6, 2026 and payment of principal at maturity. The Company recorded interest expense, including amortization of the deferred origination costs and fees associated with the loan agreement, of approximately $373 and $736 for the three and nine months ended September 30, 2016 . On April 6, 2016, the Company through a wholly-owned subsidiary, entered into a five -year secured term loan agreement with Lloyd's Bank PLC in the aggregate amount of £ 7,800 (or $11,028 ) to finance the purchase of a commercial office building in Nottingham, U.K. The loan bears a variable rate of interest based on LIBOR plus a margin and was 2.83% as of September 30, 2016 . The Company had deferred financing costs of £ 78 (or $114 ) related to the term loan. The mortgage requires quarterly principal payments of £30 and interest for the term of the loan with the remaining principal to be paid at maturity. The Company recorded interest expense, including amortization of the deferred origination costs and fees associated with the loan agreement, of approximately $73 and $159 for the three and nine months ended September 30, 2016 , respectively. Pursuant to a covenant in the agreement, if the loan exceeds 70% of the fair value of the property, the Company is required to pay the lender the entire amount necessary to reduce the outstanding principal balance to be equal to or less than 70% of the fair value of the building. Nationale Borg Through the Company's acquisition of N.V. Nationale Borg-Maatscappij and its affiliates ("Nationale Borg"), the Company assumed Nationale Borg's existing credit facilities pursuant to which trade related guarantees and comparable standby letters of credit are issued primarily to secure obligations owed by Nationale Borg to third parties in the normal course of business. See Note 13. "Acquisitions" elsewhere in this report for a description of this transaction. The credit facilities are with Deutsche Bank Netherlands N.V. and ING Bank N.V. and are primarily used to obtain guarantees for the benefit of financial institutions. The credit limit under these credit facilities is approximately €76,650 (or $88,404 ). The credit facilities were utilized for €56,228 (or $63,217 ) as of September 30, 2016 . The Company recorded total interest expense of $257 and $354 for the three and nine months ended September 30, 2016 .

Acquisition Costs and Other Und

Acquisition Costs and Other Underwriting Expenses	9 Months Ended
	Sep. 30, 2016
Acquisition Costs and Other Underwriting Expenses [Abstract]
Acquisition Costs and Other Underwriting Expenses	Acquisition Costs and Other Underwriting Expenses The following table summarizes the components of acquisition costs and other underwriting expenses for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Policy acquisition expenses $ 116,434 $ 131,083 $ 365,804 $ 336,977 Salaries and benefits 140,300 112,769 424,834 355,927 Other insurance general and administrative expenses 27,224 14,164 56,757 35,498 $ 283,958 $ 258,016 $ 847,395 $ 728,402

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The Company implemented a two -for-one stock split on February 2, 2016. As such, the weighted average number of shares used for the basic and diluted earnings per share have been adjusted retrospectively to reflect the effect of the split. During the three and nine months ended September 30, 2015, the Company’s unvested restricted shares contained rights to receive nonforfeitable dividends and were, therefore, considered participating securities. As a result, the Company computed earnings per share using the two-class method during the three and nine months ended September 30, 2015. There were no outstanding unvested restricted shares as of September 30, 2016 . The following table is a summary of the elements used in calculating basic and diluted earnings per share for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands, except for earnings per share) 2016 2015 2016 2015 Basic earnings per share: Net income attributable to AmTrust common shareholders $ 103,550 $ 182,708 $ 338,598 $ 408,152 Less: Net income allocated to participating securities and redeemable non-controlling interest — 469 — 1,072 Net income allocated to AmTrust common shareholders $ 103,550 $ 182,239 $ 338,598 $ 407,080 Weighted average common shares outstanding – basic 170,928 165,608 173,173 164,470 Less: Weighted average participating shares outstanding — 426 — 432 Weighted average common shares outstanding - basic 170,928 165,182 173,173 164,038 Net income per AmTrust common share - basic $ 0.61 $ 1.10 $ 1.96 $ 2.48 Diluted earnings per share: Net income attributable to AmTrust common shareholders $ 103,550 $ 182,708 $ 338,598 $ 408,152 Less: Net income allocated to participating securities and redeemable non-controlling interest — 469 — 1,072 Net income allocated to AmTrust common shareholders $ 103,550 $ 182,239 $ 338,598 $ 407,080 Weighted average common shares outstanding – basic 170,928 165,182 173,173 164,038 Plus: Dilutive effect of stock options, convertible debt, other 2,193 3,090 1,978 3,454 Weighted average common shares outstanding – dilutive 173,121 168,272 175,151 167,492 Net income per AmTrust common shares – diluted $ 0.60 $ 1.09 $ 1.93 $ 2.43 The Company's anti-dilutive securities excluded from diluted earnings per share calculation were immaterial for the three and nine months ended September 30, 2016 and 2015, respectively.

Share Based Compensation

Share Based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share Based Compensation	Share Based Compensation The Company’s 2010 Omnibus Incentive Plan (the “Plan”), which permits the Company to grant to its officers, employees and non-employee directors incentive compensation directly linked to the price of the Company’s stock, authorizes up to an aggregate of 14,630,136 shares of Company stock for awards of options to purchase shares of the Company’s common stock ("Stock Option"), restricted stock, restricted stock units (“RSU”), performance share units (“PSU”) or appreciation rights. Shares used may be either newly issued shares or treasury shares or both. The aggregate number of shares of common stock for which awards may be issued may not exceed 14,630,136 shares, subject to the authority of the Company’s Board of Directors to adjust this amount in the event of a consolidation, reorganization, stock dividend, stock split, recapitalization or similar transaction affecting the Company’s common stock. As of September 30, 2016 , approximately 7,100,000 shares of Company common stock remained available for grants under the Plan. The Company recognizes compensation expense under FASB ASC 718-10-25 for its share-based payments based on the fair value of the awards. Compensation expense for all share-based payments under ASC 718-10-30 was approximately $5,891 and $6,242 for the three months ended September 30, 2016 and 2015, respectively and $17,433 and $16,678 for the nine months ended September 30, 2016 and 2015, respectively. The Company has unrecognized compensation cost related to unvested stock options, restricted stock and non-vested RSU awards of $47,774 and $39,111 at September 30, 2016 and December 31, 2015, respectively. On December 15, 2015, the Company’s Board of Directors declared a two -for-one stock split on the Company’s common stock, payable in the form of a 100% stock dividend. On February 2, 2016, the dividend payment date, all options outstanding were adjusted by 100% and their respective exercise prices were reduced by 50% . The Company also adjusted outstanding RSUs, unvested restricted stock and PSUs for the split. Stock Options The Company grants stock options at prices equal to the closing stock price of the Company’s stock on the dates the options are granted. The options have a term of ten years from the date of grant and vest primarily in equal annual installments over the four -year period following the date of grant for employee options. The Company uses the simplified method in determining the expected life. Employees have three months after the employment relationship ends to exercise all vested options. The fair value of each option grant is separately estimated for each vesting date. The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the award and each vesting date. The Company has estimated the fair value of all stock option awards as of the date of the grant by applying the Black-Scholes-Merton multiple-option pricing valuation model. The application of this valuation model involves assumptions that are judgmental and highly sensitive in the determination of compensation expense. The following schedule shows all options granted, exercised, and expired under the Plan for the nine months ended September 30, 2016 and 2015 : 2016 2015 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at beginning of period 2,783,880 $ 6.99 3,868,740 $ 5.80 Granted — — 85,000 27.09 Exercised (411,913 ) 3.96 (1,018,950 ) 4.65 Canceled or terminated (13,872 ) 24.69 (75,148 ) 9.17 Outstanding at end of period 2,358,095 7.41 2,859,642 6.75 The Company did not grant any stock options during the nine months ended September 30, 2016 . The weighted average grant date fair value of options granted was $10.93 during the nine months ended September 30, 2015 . The per share fair value of options was estimated at the date of grant based on the following weighted average assumptions for the nine months ended September 30, 2015: 2015 Volatility 40.95 % Risk-free interest rate 1.95 % Weighted average expected lives in years 6.25 Dividend rate 1.85 % Forfeiture rate 0.50 % The intrinsic value of stock options exercised during the nine months ended September 30, 2016 and 2015 was $8,794 and $24,000 , respectively. The intrinsic value of stock options that were outstanding as of September 30, 2016 and December 31, 2015 was $45,889 and $66,300 , respectively. The intrinsic value of stock options that were exercisable as of September 30, 2016 and December 31, 2015 was $45,510 and $64,705 , respectively. Cash received from options exercised was $1,558 and $4,582 during the nine months ended September 30, 2016 and 2015, respectively. The excess tax benefit from award exercises was approximately $3,081 and $7,561 for the nine months ended September 30, 2016 and 2015, respectively. Such benefits were recorded as a reduction of income tax payable and an increase in additional paid-in capital. Restricted stock, RSU and PSU The Company grants restricted shares, RSUs and PSUs with a grant date fair value equal to the closing stock price of the Company’s stock on the dates the shares or units are granted. The restricted shares and RSUs vest over a period of one to four years, while PSUs vest based on the terms of the awards. A summary of the Company’s restricted stock and RSU activity for the nine months ended September 30, 2016 and 2015 is shown below: 2016 2015 Shares or Units Weighted Average Grant Date Fair Value Shares or Units Weighted Average Grant Date Fair Value Non-vested at beginning of period 1,853,516 $ 20.54 2,611,022 $ 16.70 Granted 873,388 26.03 465,400 29.19 Vested (816,538 ) 17.50 (838,918 ) 14.53 Forfeited (49,951 ) 24.17 (33,648 ) 20.95 Non-vested at end of period 1,860,415 24.35 2,203,856 20.10 A summary of the Company's PSU activity for the nine months ended September 30, 2016 and 2015 is shown below: 2016 2015 Shares or Units Weighted Average Grant Date Fair Value Shares or Units Weighted Average Grant Date Fair Value Non-vested at beginning of period 752,466 $ 24.58 549,670 $ 19.42 Granted 198,881 26.16 373,628 29.93 Vested (234,358 ) 22.89 (155,842 ) 18.86 Forfeited (35,766 ) 25.57 (9,406 ) 27.07 Non-vested at end of period 681,223 25.57 758,050 24.62 PSUs are conditional grants of a specified maximum number of common shares. In general, grants are earned, subject to the attainment of pre-specified performance goals at the end of the pre-determined period.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table is a reconciliation of the Company’s statutory income tax expense to its effective tax rate for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Income before equity in earnings of unconsolidated subsidiaries $ 151,663 $ 166,882 $ 461,978 $ 453,476 Tax at federal statutory rate of 35% $ 53,082 $ 58,409 $ 161,692 $ 158,717 Tax effects resulting from: Tax rate differences 7,898 (8,797 ) (42,738 ) (32,286 ) Adjustment to prior year taxes (402 ) (74,385 ) (402 ) (82,689 ) Permanent adjustments (23,820 ) (9,657 ) (22,615 ) (12,474 ) Valuation allowance (319 ) — (10,255 ) — Other, net (923 ) 21,781 5,478 7,367 $ 35,516 $ (12,649 ) $ 91,160 $ 38,635 Effective tax rate 23.4 % (7.6 )% 19.7 % 8.5 % As of September 30, 2016 , the Company has U.S. Net Operating Losses ("NOLs") of $56,468 that expire beginning in 2018 through 2036 . These NOLs are limited to $3,152 per year under Section 382 of the Internal Revenue Code. The Company also has foreign NOLs of $661,410 that currently have no expiration. The Company’s management believes that as of September 30, 2016 , except for a portion of foreign NOLs, it will realize the benefits of its deferred tax assets, which are included as a component of the other assets on the condensed consolidated balance sheet. As a result, the Company recorded a valuation allowance of $158,670 and $170,043 as of September 30, 2016 and December 31, 2015, respectively, related to the foreign NOLs. The decrease in the valuation allowance from December 31, 2015 to September 30, 2016 was driven primarily by the release of the valuation allowance on NOLs that were in place on the Company’s U.K. operations. The Company determined, based on income projections of the U.K. operations, that sufficient positive evidence exists that it is more likely than not that the NOL deferred tax assets will be realized. The Company did not utilize any equalization reserves attributed to its Luxembourg reinsurance companies during the three and nine months ended September 30, 2016 and 2015, respectively. The earnings of certain of the Company’s foreign subsidiaries have been indefinitely reinvested in foreign operations. Therefore, no provision has been made for any U.S. taxes or foreign withholding taxes that may be applicable upon any repatriation or disposition. The Company’s major taxing jurisdictions include the U.S. (federal and state), the United Kingdom and Ireland. The years subject to potential audit vary depending on the tax jurisdiction. Generally, the Company’s statute of limitation is open for tax years ended December 31, 2011 and forward. As permitted by FASB ASC 740-10 Income Taxes , the Company recognizes interest and penalties, if any, related to unrecognized tax benefits in its income tax provision. The Company does not have any unrecognized tax benefits and, therefore, has not recorded any unrecognized tax benefits, or any related interest and penalties, as of September 30, 2016 and December 31, 2015 . No interest or penalties have been recorded by the Company for the three and nine months ended September 30, 2016 and 2015 , respectively. The Company does not anticipate any significant changes to its total unrecognized tax benefits in the next 12 months.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Significant Transactions with Maiden Holdings, Ltd. The Company has various reinsurance and service agreements with Maiden Holdings, Ltd. (“Maiden”). Maiden is a publicly-held Bermuda insurance holding company (Nasdaq: MHLD) formed by Michael Karfunkel, George Karfunkel and Barry Zyskind, principal shareholders, and, respectively, the Company's former chairman of the board of directors, a director, and the current chairman, chief executive officer and president of the Company. As of September 30, 2016 , our principal shareholders, Leah Karfunkel (one of the Company's directors and co-trustee of The Michael Karfunkel Family 2005 Trust (the "Trust")), George Karfunkel and Barry Zyskind, own or control approximately 7.9% , 2.0% and 7.5% , respectively, of the issued and outstanding capital stock of Maiden. Mr. Zyskind serves as the non-executive chairman of the board of Maiden’s board of directors. Maiden Reinsurance Ltd. (“Maiden Reinsurance”), a wholly-owned subsidiary of Maiden, is a Bermuda reinsurer. The following section describes the agreements in place between the Company and its subsidiaries and Maiden and its subsidiaries. Reinsurance Agreements with Maiden Holdings, Ltd. In 2007, the Company and Maiden entered into a master agreement, as amended, by which the parties caused the Company’s Bermuda subsidiary, AmTrust International Insurance, Ltd. (“AII”), and Maiden Reinsurance to enter into a quota share reinsurance agreement (the “Maiden Quota Share”), as amended, by which AII retrocedes to Maiden Reinsurance an amount equal to 40% of the premium written by the Company’s U.S., Irish and U.K. insurance companies (the “AmTrust Ceding Insurers”), net of the cost of unaffiliated inuring reinsurance (and in the case of the Company’s U.K. insurance subsidiary, AmTrust Europe Ltd. ("AEL"), net of commissions). AII also retrocedes 40% of losses. Certain business that the Company commenced writing after the effective date of the Maiden Quota Share, including the Company’s European medical liability business discussed below, business assumed from Tower Group International, Ltd. ("Tower") pursuant to the cut-through quota share reinsurance agreement, and risks, other than workers’ compensation risks and certain business written by the Company’s Irish subsidiary, AmTrust International Underwriters DAC (“AIU”), for which the AmTrust Ceding Insurers’ net retention exceeds $5,000 is not ceded to Maiden Reinsurance under the Maiden Quota Share (ceded business defined as “Covered Business”). AII receives a ceding commission of 31% of ceded written premiums with respect to all Covered Business other than retail commercial package business, for which the ceding commission remains 34.375% . With regards to the Specialty Program portion of Covered Business only, the Company will be responsible for ultimate net loss otherwise recoverable from Maiden Reinsurance to the extent that the loss ratio to Maiden Reinsurance, which shall be determined on an inception to date basis from July 1, 2007 through the date of calculation, is between 81.5% and 95% (the "Specialty Program Loss Corridor"). For the purpose of determining whether the loss ratio falls within the Specialty Program Loss Corridor, workers’ compensation business written in the Company’s Specialty Program segment from July 1, 2007 through December 31, 2012 is excluded from the loss ratio calculation. The Maiden Quota Share was renewed through June 30, 2019 and will automatically renew for successive three -year terms unless either AII or Maiden Reinsurance notifies the other of its election not to renew no less than nine months prior to the end of any such three-year term. In addition, either party is entitled to terminate on thirty days’ notice or less upon the occurrence of certain early termination events, which include a default in payment, insolvency, change in control of AII or Maiden Reinsurance, run-off, or a reduction of 50% or more of the shareholders’ equity of Maiden Reinsurance or the combined shareholders’ equity of AII and the AmTrust Ceding Insurers. The Company, through its subsidiaries AEL and AIU, has a reinsurance agreement with Maiden Reinsurance by which the Company cedes to Maiden Reinsurance a percentage of its European medical liability business, including business in force at April 1, 2011. From April 1, 2011 through June 30, 2016, that percentage ceded was 40% . Effective July 1, 2016, the percentage ceded decreased to 32.5% . The quota share had an initial term of one year and has been renewed through March 31, 2017. The agreement can be terminated at any April 1 by either party on four months’ prior written notice. Maiden Reinsurance pays the Company a 5% ceding commission, and the Company will earn a profit commission of 50% of the amount by which the ceded loss ratio is lower than 65% . The following is the effect on the Company’s results of operations for the three and nine months ended September 30, 2016 and 2015 related to Maiden Reinsurance agreements: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Results of operations: Premium written – ceded $ (514,802 ) $ (453,981 ) $ (1,587,757 ) $ (1,504,701 ) Change in unearned premium – ceded (1,023 ) (13,522 ) 126,379 204,170 Earned premium - ceded $ (515,825 ) $ (467,503 ) $ (1,461,378 ) $ (1,300,531 ) Ceding commission on premium written $ 183,457 $ 144,625 $ 512,995 $ 473,480 Ceding commission – deferred (25,241 ) (6,589 ) (72,434 ) (87,535 ) Ceding commission – earned $ 158,216 $ 138,036 $ 440,561 $ 385,945 Incurred loss and loss adjustment expense – ceded $ 334,878 $ 346,123 $ 994,212 $ 932,053 Note Payable to Maiden – Collateral for Proportionate Share of Reinsurance Obligations In conjunction with the Maiden Quota Share, as described above, the Company entered into a loan agreement with Maiden Reinsurance during the fourth quarter of 2007, whereby Maiden Reinsurance loaned to the Company the amount equal to AII's quota share of the obligations of the AmTrust Ceding Insurers that AII was then obligated to secure. The loan agreement provides for interest at a rate of LIBOR plus 90 basis points and is payable on a quarterly basis. Advances under the loan are secured by a promissory note and totaled $167,975 as of September 30, 2016 and December 31, 2015 , respectively. The Company recorded $599 and $471 of interest expense during the three months ended September 30, 2016 and 2015, respectively, and $1,729 and $1,380 during the nine months ended September 30, 2016 and 2015 , respectively. Effective December 1, 2008, AII and Maiden Reinsurance entered into a Reinsurer Trust Assets Collateral agreement whereby Maiden Reinsurance is required to provide AII the assets required to secure Maiden’s proportional share of the Company’s obligations to its U.S. subsidiaries. The amount of this collateral contained in various reinsurance trusts as of September 30, 2016 was approximately $2,966,862 . Maiden retains ownership of the collateral in the trust account. Reinsurance Brokerage Agreement The Company, through a subsidiary, has a reinsurance brokerage agreement with Maiden. Pursuant to the brokerage agreement, the Company provides brokerage services relating to the Maiden Quota Share for a fee equal to 1.25% of reinsured premium. The Company recorded $6,520 and $5,828 of brokerage commission during the three months ended September 30, 2016 and 2015 , respectively, and $19,744 and $18,688 during the nine months ended September 30, 2016 and 2015 , respectively. The brokerage commission was recorded as a component of service and fee income. Asset Management Agreement The Company, through a subsidiary, has an asset management agreement with Maiden Reinsurance, pursuant to which the Company provides investment management services to Maiden Reinsurance and certain of its affiliates. As of September 30, 2016 , the Company managed approximately $4,750,000 of assets related to this agreement. The asset management services fee is an annual rate of 0.20% for periods in which average invested assets are $1,000,000 or less and an annual rate of 0.15% for periods in which the average invested assets exceeds $1,000,000 . As a result of this agreement, the Company recorded $1,780 and $1,518 of asset management fees during the three months ended September 30, 2016 and 2015 , respectively, and $5,122 and $4,455 during the nine months ended September 30, 2016 and 2015 , respectively. The asset management fees were recorded as a component of service and fee income. Significant Transactions with National General Holding Corp. The Company has an ownership interest in NGHC of approximately 12% . NGHC is a publicly-held specialty personal lines insurance holding company (Nasdaq: NGHC) that operates fifteen insurance companies in the United States and provides a variety of insurance products, including personal and commercial automobile, homeowners and umbrella, and supplemental health. As of September 30, 2016 , NGHC's two largest shareholders were The Trust and Leah Karfunkel individually. Leah Karfunkel is a member of the Company's Board of Directors, and the mother-in-law of Barry D. Zyskind, the Chairman, President and Chief Executive Officer of the Company. The ultimate beneficiaries of the Trust include Leah Karfunkel’s children, one of whom is married to Mr. Zyskind. In addition, Barry Karfunkel, the son of Leah Karfunkel and brother-in-law of Barry D. Zyskind, is the chief executive officer of NGHC and Barry D. Zyskind is NGHC's non-executive chairman of the board. In accordance with ASC 323-10-15, Investments-Equity Method and Joint Ventures , the Company accounts for its investment in NGHC under the equity method as it has the ability to exert significant influence on NGHC's operations. During the three months ended September 30, 2016 and 2015, the Company recorded $1,954 and $13,477 of income, respectively, and $12,532 and $23,048 during the nine months ended September 30, 2016 and 2015 , respectively, related to its equity investment in NGHC. Master Services Agreement The Company provides NGHC and its affiliates information technology services in connection with the development and licensing of a policy management system. The Company provides the license at a cost that is currently 1.25% of gross written premium of NGHC and its affiliates plus the Company’s costs for development and support services. The Company provides development services at a price of cost plus 20% . In addition, the Company provides NGHC and its affiliates printing and mailing services at a per piece cost for policy and policy related materials, such as invoices, quotes, notices and endorsements, associated with the policies the Company processes for NGHC and its affiliates on the policy management system. The Company recorded approximately $8,735 and $8,650 of fee income during the three months ended September 30, 2016 and 2015 , respectively, and $29,921 and $26,019 during the nine months ended September 30, 2016 and 2015 , respectively, related to this agreement. The fees for these services were recorded as a component of service and fee income. Asset Management Agreement A subsidiary of the Company manages the assets of certain of NGHC's subsidiaries, including the assets of reciprocal insurers managed by subsidiaries of NGHC, for an annual fee equal to 0.20% of the average aggregate value of the assets under management for the preceding quarter if the average aggregate value for the preceding quarter is $1,000,000 or less and 0.15% of the average aggregate value of the assets under management for the preceding quarter if the average aggregate value for that quarter is more than $1,000,000 . The Company managed approximately $3,258,000 of assets as of September 30, 2016 related to this agreement. As a result of this agreement, the Company earned approximately $986 and $720 of asset management fees during the three months ended September 30, 2016 and 2015 , respectively, and $2,586 and $1,859 during the nine months ended September 30, 2016 and 2015 , respectively. The asset management fees were recorded as a component of service and fee income. 800 Superior, LLC The Company and NGHC each have a fifty percent ownership interest in 800 Superior, LLC ("800 Superior"), which owns an office building in Cleveland, Ohio. The cost of the building was approximately $7,500 . The Company has been appointed managing member of 800 Superior. Additionally, in conjunction with the Company’s approximate 12% ownership percentage of NGHC, the Company ultimately receives 56% of the profits and losses of 800 Superior. As such, in accordance with ASC 810-10, Consolidation, the Company consolidates this entity. NGHC's portion of the net assets and earnings are recorded within non-controlling interest in the condensed consolidated financial statements. NGHC has an office lease agreement with 800 Superior. The lease agreement is through 2027. NGHC paid 800 Superior approximately $696 and $663 of rent during the three months ended September 30, 2016 and 2015 , respectively, and $2,063 and $1,929 during the nine months ended September 30, 2016 and 2015 , respectively, under the lease agreement. As discussed in Note 14. "New Market Tax Credit," 800 Superior, the Company and NGHC participated in a financing transaction related to capital improvements on the office building. As part of that transaction, NGHC and the Company entered into an agreement related to the payment and performance guaranties provided by the Company to the various parties to the financing transaction whereby NGHC has agreed to contribute 50% toward any payments the Company is required to make pursuant to the guaranties. 4455 LBJ Freeway, LLC In 2015, the Company and NGHC each acquired a fifty percent ownership interest in 4455 LBJ Freeway, LLC ("4455 LBJ Freeway"), which owns an office building in Dallas, Texas. The cost of the building was approximately $21,050 . The Company has been appointed managing member of 4455 LBJ Freeway. Additionally, in conjunction with the Company’s approximate 12% ownership percentage of NGHC, the Company ultimately receives 56% of the profits and losses of 4455 LBJ Freeway. As such, in accordance with ASC 810-10, Consolidation, the Company consolidates this entity. NGHC's portion of the net assets and earnings are recorded within non-controlling interest in the condensed consolidated financial statements. In addition, NGHC has an office lease agreement with 4455 LBJ Freeway. The lease agreement is through February 2028. The Company recorded approximately $389 and $907 of service and fee income related to rent for the three and nine months ended September 30, 2016 . Lastly, as discussed in Note 7. "Debt," 4455 LBJ Freeway entered into a ten-year loan agreement with Citigroup Global Markets Realty Corp. secured by the Dallas office building owned by 4455 LBJ Freeway. As part of that transaction, the Company and NGHC provided a joint and several guaranty to Citigroup. As a result, the Company and NGHC entered into an agreement to contribute 50% toward any payments the other party would be required to make pursuant to this guaranty. Significant Transactions with ACP Re, Ltd. ACP Re, Ltd. (“ACP Re”) is a privately-held Bermuda reinsurance holding company owned by the Trust. In 2014, a subsidiary of ACP Re merged with Tower. The following section describes the significant agreements in place between the Company and its subsidiaries and ACP Re and its subsidiaries. Asset Management Agreement A subsidiary of the Company provides asset management services to ACP Re and certain of its subsidiaries at (i) an annual rate of 0.20% of the average value of the invested assets under management, excluding investment in the Company's stock, for the preceding calendar quarter if the average value of such assets for the quarter was $1,000,000 or less, or (ii) an annual rate of 0.15% of the average value of the invested assets under management, excluding investment in the Company's stock, for the preceding calendar quarter if the average value of such assets for the quarter was greater than $1,000,000 . The Company managed approximately $540,573 of assets as of September 30, 2016 . The Company recorded approximately $230 and $457 of asset management fees during the three months ended September 30, 2016 and 2015 , respectively, and $687 and $1,281 during the nine months ended September 30, 2016 and 2015 , respectively. The asset management fees were recorded as a component of service and fee income. Agreements as a result of the ACP Re / Tower Merger The Company and ACP Re entered into the agreements and transactions described below, as well as the asset management agreement described above, as a result of ACP Re’s acquisition of 100% of the outstanding stock of Tower on September 15, 2014. As described in the Company's Current Report on Form 8-K filed on July 29, 2016, in July 2016, Tower’s statutory insurance companies (the “Tower Companies”) merged into CastlePoint National Insurance Company (“CNIC”), with CNIC as the surviving entity. By order of the Supreme Court of the State of California, on July 28, 2016, CNIC was placed into receivership. On September 13, 2016, when the Conservation Plan developed by the Commissioner of Insurance of the State of California for CNIC (the "Conservation Plan") was approved by the Superior Court of the State of California, and members of the Michael Karfunkel family made a $200,000 contribution to CNIC on September 20, 2016 (the "Contribution"), several of the agreements described below were either amended or terminated. Commercial Lines Reinsurance Agreements Technology Insurance Company, Inc. ("TIC") entered into the Commercial Lines Quota Share Reinsurance Agreement (the “CL Reinsurance Agreement”) with Tower’s ten statutory insurance companies (the “Tower Companies”) pursuant to which TIC reinsures 100% of all losses under the Tower Companies’ new and renewal commercial lines business written after September 15, 2014. The ceding commission payable by TIC under the CL Reinsurance Agreement is equal to the sum of (i) reimbursement of the Tower Companies’ acquisition costs in respect of the business covered, including commission payable to AmTrust North America, Inc., a subsidiary of the Company (“ANA”), pursuant to the CL MGA Agreement described below, and premium taxes and (ii) 2% of gross written premium (net of cancellations and return premiums) collected pursuant to the CL MGA Agreement described below. The CL Reinsurance Agreement will remain in effect until termination of the CL MGA Agreement. The Company no longer assumes premium under the CL Reinsurance Agreement and policies previously assumed are in run off. Commercial Lines MGA Agreement Until CNIC's placement into receivership, ANA produced and managed all new and renewal commercial lines business written by the Tower Companies pursuant to the Commercial Lines Managing General Agency Agreement (the “CL MGA Agreement”). As described above, all post-September 15, 2014 commercial lines business written by the Tower Companies was reinsured by TIC pursuant to the CL Reinsurance Agreement. The Tower Companies paid ANA a 10% commission on all business written pursuant to the CL MGA Agreement and reimbursed ANA for commissions payable to agents producing such business. All payments by the Tower Companies to ANA pursuant to the CL MGA Agreement were netted out of the ceding commission payable by TIC to the Tower Companies pursuant to the CL Reinsurance Agreement. The Company did not record any commission during the three and nine months ended September 30, 2016 , and recorded $1,386 and $3,444 of commission under the CL MGA Agreement during the three and nine months ended September 30, 2015 . The commission income was recorded as a component of service and fee income. There is no longer any commercial lines business managed under this agreement. Commercial Lines Administrative Services Agreement ANA, the Tower Companies and CastlePoint Reinsurance Company, Ltd. (“CP Re,” a subsidiary of ACP Re) entered into the Commercial Lines LPTA Administrative Services Agreement (the “CL Administrative Agreement”) pursuant to which ANA administered the runoff of CP Re’s and the Tower Companies’ commercial lines business written prior to September 15, 2014 at cost. CP Re and the Tower Companies reimbursed ANA for its actual costs, including costs incurred in connection with claims operations, out-of-pocket expenses, costs incurred in connection with any required modifications to ANA’s claims systems and an allocated portion of the claims service expenses paid by TIC to the Tower Companies pursuant to the CL Reinsurance Agreement. The Company charged ACP Re $3,315 and $6,033 for these services during the three months ended September 30, 2016 and 2015 , respectively, and $9,298 and $29,589 for the nine months ended September 30, 2016 and 2015 , respectively, which were recorded as a reduction of salary and other expense. The CL Administrative Agreement terminated upon the approval of the Conservation Plan and the making of the Contribution discussed above. Stop-Loss and Retrocession Agreements AII and National General Re, Ltd., a subsidiary of NGHC (“NG Re Ltd.”), as reinsurers, entered into a $250,000 Aggregate Stop Loss Reinsurance Agreement (the “Stop-Loss Agreement”) with CP Re. AII and NG Re Ltd. also entered into an Aggregate Stop Loss Retrocession Contract (the “Retrocession Agreement”) with ACP Re pursuant to which ACP Re would reinsure the full amount of any payments that AII and NG Re Ltd. were obligated to make to CP Re under the Stop-Loss Agreement. Pursuant to the Stop-Loss Agreement, each of the Company and NGHC had agreed to provide, severally, $125,000 of stop loss coverage with respect to the run-off of the Tower business written on or before September 15, 2014. The reinsurers’ obligation to indemnify CP Re under the Stop-Loss Agreement would have been triggered only at such time as CP Re’s ultimate net loss related to the run-off of the pre-September 15, 2014 Tower business exceeded a retention equal to the Tower Companies’ loss and loss adjustment reserves and unearned premium reserves as of September 15, 2014. Upon the approval of the Conservation Plan and the making of the Contribution discussed above, the Stop-Loss Agreement and the Retrocession Agreement terminated. ACP Re Credit Agreement The Company, AII, and NG Re Ltd. entered into a credit agreement (the “ACP Re Credit Agreement”) among the Company, as Administrative Agent, ACP Re and Tower, now a wholly-owned subsidiary of ACP Re, as the borrowers (collectively, the “Borrowers”), ACP Re Holdings, LLC, as Guarantor, and AII and NG Re Ltd., as Lenders pursuant to which the Lenders made a $250,000 loan ( $125,000 made by each Lender) to the Borrowers. As discussed below under "Restructuring of ACP Re Credit Agreement," certain terms of the ACP Re Credit Agreement were amended and restated following the approval of the Conservation Plan and the making of the Contribution. Until the restructuring of the ACP Re Credit Agreement, it had a maturity date of September 15, 2021 . Outstanding borrowings under the original ACP Re Credit Agreement bore interest at a fixed annual rate of 7% , payable semi-annually on the last day of January and July. Fees payable to the Company for its service as Administrative Agent continue to include an annual fee equal to $30 , plus reimbursement of costs, expenses and certain other charges. Prior to the restructuring, the obligations of the Borrowers were secured by (i) a first-priority pledge of 100% of the stock of ACP Re and ACP Re’s U.S. subsidiaries and 65% of the stock of certain of ACP Re’s foreign subsidiaries, and (ii) a first-priority lien on all of the assets of the Borrowers and Guarantor and certain of the assets of ACP Re’s subsidiaries (other than the Tower Companies). The Borrowers continue to have the right to prepay the amounts borrowed, in whole or in part. Until the restructuring, the Borrowers were required to prepay the amounts borrowed within thirty (30) days from the receipt of net cash proceeds received by ACP Re from (i) certain asset sales, (ii) the disposition of certain equity interests, (iii) the issuance or incurrence of certain debt, (iv) any dividend or distribution from Tower subsidiaries to ACP Re, (v) premiums and other payments received pursuant to the Retrocession Agreement, and (vi) any tax refunds, pension plan reversions, insurance proceeds, indemnity payments, purchase price adjustments (excluding working capital adjustments) under acquisition agreements, litigation proceeds and other similar receipts received by the Borrowers after the effective date of the ACP Re Credit Agreement, unless any of the foregoing proceeds (other than payments received pursuant to the Retrocession Agreement) are required for the ordinary course business operations of the Borrowers. The Borrowers were also required to deposit any excess cash flow (including payments under the Master Agreement) into a reserve account that also secures Borrowers’ obligations under the ACP Re Credit Agreement. Any funds in the reserve account after January 1, 2018 that exceed the amount of interest payable by the Borrowers for the remainder of the term of the ACP Re Credit Agreement would be applied by the Borrowers as a prepayment of principal under the ACP Re Credit Agreement. Prior to the restructuring, the ACP Re Credit Agreement contained certain customary restrictive covenants (subject to negotiated exceptions and baskets), including restrictions on indebtedness, liens, acquisitions and investments, dispositions, creation of subsidiaries and restricted payments. There were also financial covenants that required ACP Re to maintain minimum current assets, a maximum leverage ratio, and a minimum fixed charge coverage ratio. If ACP Re failed to comply with the leverage ratio or fixed charge coverage ratio covenants as of any measurement date, the Borrowers could cure such breach by making a capital contribution to ACP Re sufficient to bring the Borrowers into compliance. The ACP Re Credit Agreement also provided for customary events of default, with grace periods where appropriate, including failure to pay principal when due, failure to pay interest or fees within three business days after becoming due, failure to comply with covenants, breaches of representations and warranties, default under certain other indebtedness, certain insolvency, receivership or insurance regulatory events affecting the Borrowers, the occurrence of certain material judgments, certain amounts of reportable ERISA or foreign pension plan noncompliance events, a change in control of the Guarantor, any security interest created under the ACP Re Credit Agreement ceases to be in full force and effect, or if ACP Re defaults on its obligations under the Retrocession Agreement. Upon the occurrence and during the continuation of an event of default, the Company, as Administrative Agent, upon the request of any Lender, would declare the Borrowers’ obligations under the ACP Re Credit Agreement immediately due and payable and/or exercise any and all remedies and other rights under the ACP Re Credit Agreement. As of September 30, 2016 and December 31, 2015 , the Company recorded $127,061 and $129,375 , respectively, of loan and related interest receivable as a component of other assets on the condensed consolidated balance sheet. The Company recorded total interest income of approximately $2,061 and $2,115 for the three months ended September 30, 2016 and 2015 , respectively, and $6,436 and $6,514 during the nine months ended September 30, 2016 and 2015 , respectively, under the ACP Re Credit Agreement. Restructuring of ACP Re Credit Agreement As disclosed in the Company's Current Report on Form 8-K filed on September 21, 2016, the Company, AII, NG Re Ltd., ACP Re Holdings, LLC and the Trust entered into an Amended and Restated Credit Agreement on September 20, 2016, following approval by the Superior Court of the State of California of the Conservation Plan, and the Contribution by members of the Michael Karfunkel family to CNIC. The Amended and Restated Credit Agreement incorporates the following restated terms: • The borrower became ACP Re Holdings, LLC, a Delaware limited liability company owned by the Trust; • The Trust will cause ACP Re Holdings, LLC to maintain assets having a value greater than 115% of the value of the then outstanding loan balance, and if there is a shortfall, the Trust will make a contribution to ACP Re Holdings, LLC of assets having a market value of at least the shortfall (the “Maintenance Covenant”); • The amounts borrowed are secured by equity interests, cash and cash equivalents, other investments held by ACP Re Holdings, LLC and proceeds of the foregoing in an amount equal to the requirements of the Maintenance Covenant; • The maturity date changed from September 15, 2021 to September 20, 2036; • Interest on the outstanding principal balance of $250,000 is a fixed annual rate of 3.70% (payable in cash, semi-annually in arrears), provided that up to 1.20% thereof may be paid in kind; • Commencing on September 20, 2026, and for each year thereafter, 2% of the then outstanding principal balance of the loan (inclusive of any amounts previously paid in kind) is due and payable; • At the Lenders’ discretion, ACP Re Holdings, LLC may repay the loan using cash or tradeable stock of an equivalent market value of any publicly traded company on the NYSE, NASDAQ or London stock exchange; and • A change of control of greater than 50% and an uncured breach of the Maintenance Covenant are included as events of default. Other Related Party Transactions Lease Agreements The Company leases office space at 59 Maiden Lane in New York, New York from 59 Maiden Lane Associates, LLC, an entity that is wholly-owned by Leah Karfunkel and George Karfunkel. The lease term is through May 2023. The Company paid approximately $687 and $527 of rent during the three months ended September 30, 2016 and 2015, respectively, and $1,425 and $1,475 during the nine months ended September 30, 2016 and 2015 , respectively, for the leased office space. The Company leased office space in Chicago, Illinois from 135 LaSalle Property, LLC, an entity that is wholly-owned by entities controlled by Leah Karfunkel and George Karfunkel. The lease terminated on May 31, 2016. The Company paid rent of approximately $197 and $466 during the nine months ended September 30, 2016 and 2015 , respectively, for the leased office space. The Company now leases office space in Chicago, Illinois from IC 233 Building Company LLC, a wholly-owned subsidiary of Illinois Center Building Company, discussed below. The lease term is ten years through the end of May 2026. The Company's rent expense was $340 during the nine months ended September 30, 2016 for the leased office space. Equity Investments in Limited Partnerships In February 2015, the Company invested approximately $9,700 in North Dearborn Building Company, L.P. (“North Dearborn”), a limited partnership that owns an office building in Chicago, Illinois. NGHC is also a limited partner in North Dearborn, and the general partner is NA Advisors GP LLC (“NA Advisors”), an entity controlled by Leah Karfunkel and managed by an unrelated third party. The Company and NGHC each received a 45% limited partnership interest in North Dearborn for their respective $9,700 investments, while NA Advisors invested approximately $2,200 and holds a 10% general partnership interest and a 10% profit interest, which NA Advisors pays to the unrelated third party manager. North Dearborn appointed NA Advisors as the general manager to oversee the day-to-day operations of the office building and pays NA Advisors an annual fee for these services. This investment is included within other investments and is accounted for using the equity method of accounting on a three-month lag basis. The Company recorded approximately $207 and $652 of income from this investment during the three and nine months ended September 30, 2016 and $542 during the three and nine months ended September 30, 2015. In August 2015, certain of the Company's subsidiaries invested approximately $53,715 in Illinois Center Building Company, L.P. ("Illinois Center"), a limited partnership that owns an office building complex in Chicago, Illinois. NGHC and ACP Re are also limited partners in Illinois Center, and the general partner is NA Advisors. The Company and NGHC each have a 37.5% limited partnership interest i

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Acquisitions	Acquisitions Trust Risk Group In October 2014, a dispute arose between the Company's subsidiary, AmTrust Europe Ltd., and its Italian medical liability broker, Trust Risk Group SpA ("TRG"), and agent, Trust Risk Italia SRL ("TRI," a subsidiary of TRG, collectively, “TRG”). TRG asserted that it was entitled to advanced commissions of approximately € 95,800 (or $106,300 ) related to the Company's Italian medical liability business produced by TRG. TRG deducted approximately € 42,200 (or $46,800 ) from premium payable to the Company with the intention of deducting approximately € 48,700 (or $54,100 ) from future premium payable to the Company. The Company disputed that TRG was entitled to advanced commission. The Company terminated its brokerage and agency relationship with TRG and TRI, respectively, and notified its insureds and retail brokers to pay premiums directly to the Company. TRG initiated two arbitration proceedings against the Company in Milan, Italy seeking monetary damages based upon its allegations that the Company improperly terminated the producer agreements and an entitlement to advanced commissions on the business produced for the Company. Subsequently, the Company commenced litigation in England and the U.S. against Antonio Somma, the current or former principal of TRG, and Marco Lacchini, the chairman of the two arbitration proceedings pending in Milan, Italy. The Company brought the English and U.S. legal actions based on allegations that the two ongoing Italian arbitrations were not being conducted in accordance with the law, as well as certain other matters. The Company was successful in its application in Italy to remove Mr. Lacchini as chairman of the two arbitral tribunals. As disclosed in the Company’s Current Report on Form 8-K filed on July 20, 2016, the Company, AmTrust Europe, Ltd., and TRG and Mr. Somma reached a settlement agreement on July 15, 2016 that included the dismissal of all actions, claims and counterclaims among the parties, the terms of which all parties agreed to keep confidential. The terms of the settlement did not have a material effect on the Company's results of operations, financial position or liquidity. In conjunction with the settlement agreement, the Company entered into additional agreements, whereby the Company obtained renewal rights associated with all the in-force business produced by TRG prior to the termination of the brokerage and agency relationship and a non-compete agreement from TRG, Mr. Somma and related parties for a period of three years in exchange for €16,000 , as well as the release of a receivable balance due from TRG of €14,000 . The cash consideration at inception of the non-compete agreement was €13,000 , with the remainder of €3,000 to be paid after a period of three years. In accordance with FASB ASC 805-10 Business Combinations , the Company recorded an acquisition price of €29,800 (or $32,956 ) for these agreements. The Company determined the fair value of the non-compete agreement to be €17,500 (or $19,353 ) and the life of the asset to be three years. The fair value of the renewal rights agreement was determined to be €12,000 (or $13,271 ) and have a life of four years. The remaining amount of €300 (or $332 ) was determined to be goodwill and is not expected to be deductible for income tax purposes. The goodwill and intangible assets, as well as the results of operations from these agreements, are included as a component of the Specialty Risk and Extended Warranty segment. Nationale Borg On May 31, 2016, the Company completed the acquisition of N.V. Nationale Borg-Maatscappij and its affiliates ("Nationale Borg") for € 161,350 (or $179,583 ). Nationale Borg is an Amsterdam-based international direct writer and reinsurer of surety and trade credit insurance in over 70 countries that has been in existence for approximately 120 years. A summary of the preliminary assets acquired and liabilities assumed for Nationale Borg are as follows: (Amounts in Thousands) Assets Cash and investments $ 229,607 Premium receivable 4,301 Accrued interest and dividends 83 Reinsurance recoverable 4,322 Other assets 8,414 Property and equipment 10,319 Goodwill and intangible assets 64,328 Total assets $ 321,374 Liabilities Loss and loss adjustment expense reserves $ 87,813 Unearned premiums 24,782 Accrued expenses and other liabilities 29,196 Total liabilities $ 141,791 Acquisition price $ 179,583 The goodwill and intangible assets, as well as Nationale Borg's results of operations, are included as a component of the Specialty Risk and Extended Warranty segment. The goodwill is not expected to be deductible for income tax purposes. The intangible assets consist primarily of trade names, licenses and agent relationships. The Company anticipates completing its acquisition accounting by the end of 2016. As a result of this acquisition, the Company recorded approximately $27,539 and $37,034 of gross written premium during the three and nine months ended September 30, 2016 . First Nationwide Title Agency On May 20, 2016, the Company completed the acquisition of First Nationwide Title Agency and its subsidiaries ("First Nationwide"). First Nationwide is a title agency providing title insurance products primarily in the State of New York. The consideration for the purchase consisted of approximately $24,200 at closing and contingent consideration based on profitability of the agency over a four -year period. The net assets recorded for First Nationwide consisted primarily of goodwill and intangible assets and are included in the Specialty Risk and Extended Warranty segment. The goodwill is not expected to be deductible for income tax purposes. The intangible assets consist primarily of customer relationships and trade names. The Company anticipates completing its acquisition accounting by the end of 2016. As a result of this acquisition, the Company recorded service and fee income of $7,401 for the three and nine month periods ended September 30, 2016 . Genworth On May 9, 2016, the Company completed the acquisition of Genworth Financial Mortgage Insurance Ltd. ("Genworth"). Genworth provides mortgage insurance in Europe, primarily in the U.K. Finland, Italy and Germany. The consideration given for Genworth consisted of cash of approximately $54,500 . A summary of the preliminary assets acquired and liabilities assumed for Genworth are as follows: (Amounts in Thousands) Assets Cash and investments $ 239,695 Reinsurance recoverable 27,570 Other assets 8,422 Property and equipment 964 Total assets $ 276,651 Liabilities Loss and loss adjustment expense reserves $ 84,463 Unearned premiums 76,308 Accrued expenses and other liabilities 13,060 Total liabilities $ 173,831 Acquisition price $ 54,500 Acquisition gain $ 48,320 The Company determined that the fair value of any intangible assets associated with the acquisition were immaterial. Genworth's results of operations are included as a component of the Specialty Risk and Extended Warranty segment. The Company anticipates completing its acquisition accounting by the end of 2016. As a result of this acquisition, the Company recorded approximately $6,767 and $11,067 of gross written premium during the three and nine months ended September 30, 2016 . Republic On April 18, 2016, the Company completed the acquisition of Republic Companies, Inc. and its affiliates ("Republic") from Delek Group Ltd., and Republic Insurance Holdings, LLC. Republic provides commercial and personal lines property and casualty insurance through independent agents and managing general agents. Republic primarily distributes the majority of its business to individuals and small and medium-size businesses through a network of independent agents in the southwestern United States. In addition, Republic generates fee revenue by providing insurance services to third parties. The consideration given for Republic consisted of approximately $113,456 of cash at closing, a promissory note payable of approximately $104,685 due to Delek Group Ltd. and deferred payments of approximately $15,200 that are owed to the minority owners of Republic. Further information on the promissory note can be found in "Note 7. Debt" elsewhere in this report. The deferred payments will be made in nineteen quarterly installments of $800 and began three months after the acquisition date. The remaining deferred payment liability as of September 30, 2016 was $14,400 . A summary of the preliminary assets acquired and liabilities assumed for Republic are as follows: (Amounts in Thousands) Assets Cash and investments $ 621,068 Premium receivable, net 85,455 Accrued interest and dividends 4,779 Reinsurance recoverable 629,488 Deferred tax assets 42,745 Other assets 223,619 Property and equipment 1,511 Goodwill and intangible assets 119,106 Total assets $ 1,727,771 Liabilities Loss and loss adjustment expense reserves $ 885,898 Unearned premiums 301,972 Trust preferred outstanding 92,786 Accrued expenses and other liabilities 131,092 Funds held under reinsurance treaties 83,331 Total liabilities $ 1,495,079 Acquisition price $ 232,692 The goodwill and intangible assets as well as Republic's results of operations will be included as a component of the Small Commercial Business and Specialty Program segments. The goodwill is not expected to be deductible for income tax purposes. The intangible assets consist primarily of trade names, licenses and agent relationships. The Company anticipates completing its acquisition accounting by the end of 2016. As a result of this acquisition, the Company recorded approximately $181,810 and $334,936 of gross written premium during the three and nine months ended September 30, 2016 and $2,076 and $3,620 of services and fee income during the three and nine months ended September 30, 2016 . ARI Insurance Company On January 22, 2016, the Company completed the acquisition of ARI Holdco Inc. ("ARIH") and its subsidiaries. ARIH's primary operating subsidiary, ARI Insurance Company ("ARI"), is an underwriter of commercial automobile insurance in New Jersey, Pennsylvania and Maryland. Immediately prior to the acquisition, ARI converted from a mutual form to a stock form of ownership in a transaction "sponsored" by the Company. As required by the plan of conversion and applicable Delaware law, the Company offered shares of its common stock, at a discount to the market price, to the members of ARI who held policies as of December 31, 2014 and the directors, officers and employees of ARI and its subsidiaries. The Company received subscriptions for approximately $276 , resulting in the issuance by the Company of 12,347 (on a post-split basis) shares of its common stock at a discounted price of 20% (or approximately $69 in the aggregate) from the Company's market trading price. Pursuant to the stock purchase agreement, after the expiration of the offering, the Company purchased all of the authorized shares of capital stock of ARIH at a purchase price equal to the greater of the gross proceeds received by the Company in the offering, and $3,750 . The Company made a payment to ARIH of $23,500 , which included the $276 in proceeds the Company received in the offering, for the stock of ARI. Additionally, the Company, as part of the transaction, was required to make a payment to an employee bonus pool of ARI of $3,750 , as discussed above. The remaining $23,500 of cash contributed to ARIH was retained by the Company. In accordance with FASB ASC 805-10 Business Combinations , the Company recorded an initial acquisition price of approximately $3,819 . A summary of the preliminary assets acquired and liabilities assumed for ARI are as follows: (Amounts in Thousands) Assets Cash and investments $ 53,917 Premium receivable, net 15,577 Accrued interest and dividends 375 Reinsurance recoverable 17,554 Other assets 2,116 Intangible assets 1,097 Total assets $ 90,636 Liabilities Loss and loss adjustment expense reserves $ 59,723 Unearned premiums 18,672 Accrued expenses and other liabilities 7,968 Total liabilities $ 86,363 Acquisition price $ 3,819 Acquisition gain $ 454 The intangible assets associated with the acquisition were initially measured at $1,097 and are not deductible for income tax purposes. The Company is in the process of completing its acquisition accounting and expects to have it completed in 2016. The intangible assets as well as ARI's results of operations are included as a component of the Small Commercial Business segment. As a result of this acquisition, the Company recorded approximately $8,747 and $34,357 of gross written premium during the three and nine months ended September 30, 2016 . Springfield On October 7, 2015 , the Company acquired all of the issued and outstanding stock of Springfield Insurance Company and its affiliates, Springfield Insurance Company Ltd. and Unified Grocers Insurance Services (collectively "Springfield"). Springfield, domiciled in California, is an insurance carrier providing workers' compensation and commercial package insurance to Unified Grocers Inc., an association of independently owned grocery stores, its members and its customers. The purchase agreement required the Company to pay approximately $26,574 in cash on the acquisition date and contained an earn-out provision that is contingent on Springfield meeting certain performance conditions over a five -year period. The contingent consideration associated with the earn-out provision was valued at $5,000 as of the acquisition date. A summary of the preliminary assets acquired and liabilities assumed for Springfield are as follows: (Amounts in Thousands) Assets Cash and investments $ 93,837 Premium receivable, net 4,651 Accrued interest and dividends 470 Other assets 2,752 Deferred tax asset 1,905 Property and equipment 1,376 Goodwill 4,253 Total assets $ 109,244 Liabilities Loss and loss adjustment expense reserves $ 65,725 Unearned premiums 7,006 Accrued expenses and other liabilities 4,199 Reinsurance payable on paid losses 740 Total liabilities $ 77,670 Acquisition price $ 31,574 The goodwill associated with the acquisition was initially measured at $4,253 and is not expected to be deductible for income tax purposes. The goodwill as well as Springfield's results of operations are included as a component of the Small Commercial Business segment. As a result of this acquisition, the Company recorded approximately $2,115 and $6,993 of gross written premium for the three and nine months ended September 30, 2016 and $796 and $1,638 of service and fee income during the three and nine months ended September 30, 2016 . Warranty Solutions On September 25, 2015 , the Company acquired all of the issued and outstanding stock of Warranty Solutions, a Wells Fargo business ("Warranty Solutions"), for $156,247 in cash. Warranty Solutions designs, markets, administers and underwrites vehicle service contracts for new and used automobiles through a national network of more than 70 active agencies and 1,500 franchised and independent dealers. A summary of the assets acquired and liabilities assumed for Warranty Solutions are as follows: (Amounts in Thousands) Assets Cash and investments $ 192,015 Prepaid reinsurance premium 77,777 Other assets 16,346 Deferred tax asset 26,481 Goodwill and intangible assets 117,504 Total assets $ 430,123 Liabilities Loss and loss expense reserves $ 3,013 Unearned premiums 182,441 Accrued expenses and other liabilities 88,422 Total liabilities $ 273,876 Acquisition price $ 156,247 The goodwill and intangible assets associated with the acquisition were measured at $117,504 , which included finite lived intangible assets for customer relationships of $48,300 , value of business acquired (VOBA) of $19,639 and software of $400 , and indefinite lived intangible assets for state licenses of $8,500 . The finite lived intangibles lives range from three to fifteen years. The goodwill associated with the acquisition is not deductible for income tax purposes. The goodwill and intangible assets, as well as Warranty Solutions' results of operations, are included as a component of the Specialty Risk and Extended Warranty segment. As a result of this acquisition, the Company recorded approximately $23,440 and $69,448 , respectively, of gross written premium and $22,537 and $67,471 , respectively, of service and fee income during the three and nine months ended September 30, 2016 . Magna Carta On March 11, 2016, one of our subsidiary insurance companies entered into a loss portfolio transfer with Public Service Insurance Company, Paramount Insurance Company and Western Select Insurance Company. The Company will reinsure 100% of the existing obligations with respect to their business for accident years 2014 and 2015, including a loss portfolio transfer of 100% of the loss and LAE reserves as of the effective date. The Company received approximately $163,400 of cash and recorded loss reserves of approximately $163,400 . The Company followed deposit accounting under the guidelines of ASC 340-30, Other Assets and Deferred Costs . During the three and nine months ended September 30, 2016 , the Company paid losses of approximately $11,612 and $20,630 , respectively. During the three and nine months ended September 30, 2016 , the Company did not record any gains or losses as a result of this transaction. Additionally, one of the Company's subsidiaries entered into a renewal rights transaction with the forenamed parties as well as Creative Intermediaries, Inc., Magna Carta Companies, Inc. and Public Service Mutual Holding Company, whereby the Company may reinsure their existing book of policies for their commercial and property insurance business. The acquisition price paid for the renewal rights transaction was approximately $1,000 . Other The Company had additional immaterial acquisitions totaling approximately $45,578 and $57,578 during the three and nine months ended September 30, 2016 . No individual acquisition or acquisitions in the aggregate were significant and, therefore, the Company was not required to include any pro forma financial information in this report.

New Market Tax Credit

New Market Tax Credit	9 Months Ended
	Sep. 30, 2016
New Market Tax Credit [Abstract]
New Market Tax Credit	New Market Tax Credit In 2012, the Company's subsidiary, 800 Superior, LLC (an entity owned equally by the Company and NGHC) received $19,400 in net proceeds from a financing transaction the Company and NGHC entered into with Key Community Development Corporation (“KCDC”) related to a capital improvement project for an office building in Cleveland, Ohio owned by 800 Superior, LLC. The Company, NGHC and KCDC collectively made capital contributions (net of allocation fees) and loans to 800 Superior NMTC Investment Fund II LLC and 800 Superior NMTC Investment Fund I LLC (collectively, the “Investment Funds”) under a qualified New Markets Tax Credit (“NMTC”) program. The NMTC program was provided for in the Community Renewal Tax Relief Act of 2000 (the “Act”) and is intended to induce capital investment in qualified lower income communities. The Act permits taxpayers to claim credits against their federal income taxes for up to 39% of qualified investments in the equity of community development entities (“CDEs”). CDEs are privately managed investment institutions that are certified to make qualified low-income community investments (“QLICIs”). In addition to the capital contributions and loans from the Company, NGHC and KCDC, as part of the transaction, the Investment Funds received, directly and indirectly, proceeds of approximately $8,000 from two loans originating from state and local governments of Ohio. These loans are each for a period of 15 years and have a weighted average interest rate approximately of 2.0% per annum. The Investment Funds then contributed the loan proceeds and capital contributions of $19,400 to two CDEs, which, in turn, loaned the funds on similar terms to 800 Superior, LLC. The proceeds of the loans from the CDEs (including loans representing the capital contribution made by KCDC, net of allocation fees) will be used to fund the capital improvement project. As collateral for these loans, the Company has granted a security interest in the assets acquired with the loan proceeds. The Company and NGHC are each entitled to receive an equal portion of 49% of the benefits derived from the NMTCs generated by 800 Superior Investment Fund II LLC, while KCDC is entitled to the remaining 51% . The NMTC is subject to 100% recapture for a period of 7 years as provided in the Internal Revenue Code. During this seven-year compliance period, the entities involved are required to be in compliance with various regulations and contractual provisions that apply to the NMTC arrangement. Non-compliance with applicable requirements could result in the projected tax benefits not being realized and, therefore, could require the Company to indemnify KCDC for any loss or recapture of NMTCs related to the financing until such time as the obligation to deliver tax benefits is relieved. The Company does not anticipate any credit recaptures will be required in connection with this arrangement. In addition, this transaction includes a put/call provision whereby the Company may be obligated or entitled to repurchase KCDC's interest in the Investment Funds in September 2019 at the end of the recapture period. The Company believes that KCDC will exercise its put option and, therefore, attributed an insignificant value to the put/call. The Company has determined that the Investment Funds are VIEs. The ongoing activities of the Investment Funds - collecting and remitting interest and fees and NMTC compliance - were all considered in the initial design and are not expected to significantly affect economic performance throughout the life of the Investment Funds. When determining whether to consolidate the Investment Funds, Company management considered the contractual arrangements that obligate it to deliver tax benefits and provide various other guarantees to the structure, KCDC's lack of a material interest in the underlying economics of the project, and the fact that the Company is obligated to absorb losses of the Investment Funds. Also, the Company has an approximate 12% ownership in NGHC. The Company concluded that it was the primary beneficiary and consolidated the Investment Funds, as VIEs, in accordance with the accounting standard for consolidation. KCDC's contribution, net of syndication fees, is included as accrued liability in the accompanying condensed consolidated balance sheets. Direct costs incurred in structuring the financing arrangement are deferred and will be recognized as expense over the term of the loans. Incremental costs to maintain the structure during the compliance period are recognized as incurred.

Shareholder Equity and Accumula

Shareholder Equity and Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Shareholder Equity and Accumulated Other Comprehensive Income (Loss)	Stockholder's Equity and Accumulated Other Comprehensive Income (Loss) Common Stock The Company implemented a two -for-one stock split on February 2, 2016. Issuances of Preferred Stock In March 2016, the Company completed a public offering of 5,750,000 of its depositary shares, each representing a 1/40th interest in a share of its 7.75% Non-Cumulative Preferred Stock, Series E, $0.01 par value per share (the "Series E Preferred Stock"), with a liquidation preference of $1,000 per share (equivalent to $25 per depositary share). Each depositary share entitles the holder to a proportional fractional interest in all rights and preferences of the Series E Preferred Stock represented thereby (including any dividend, liquidation, redemption and voting rights). Dividends on the Series E Preferred Stock represented by the depositary shares will be payable on the liquidation preference amount, on a non-cumulative basis, when, as and if declared by the Company’s board of directors, at a rate of 7.75% per annum, quarterly in arrears, on March 15 , June 15 , September 15 , and December 15 of each year, beginning on June 15, 2016 , from and including the date of original issuance. The Series E Preferred Stock represented by the depositary shares is not redeemable prior to March 15, 2021. After that date, the Company may redeem at its option, in whole or in part, the Series E Preferred Stock represented by the depositary shares at a redemption price of $1,000 per share (equivalent to $25 per depositary share) plus any declared and unpaid dividends for prior dividend periods and accrued but unpaid dividends (whether or not declared) for the then current dividend period. Net proceeds from this offering were $139,070 . In addition, the Company incurred $4,680 in underwriting discount and commissions and expenses, which were recognized as a reduction to additional paid-in capital. In September 2016, the Company completed a public offering of 11,500,000 of its depositary shares, each representing a 1/40th interest in a share of its 6.95% Non-Cumulative Preferred Stock, Series F, $0.01 par value per share (the "Series F Preferred Stock"), with a liquidation preference of $1,000 per share (equivalent to $25 per depositary share). Each depositary share entitles the holder to a proportional fractional interest in all rights and preferences of the Series F Preferred Stock represented thereby (including any dividend, liquidation, redemption and voting rights). Dividends on the Series F Preferred Stock represented by the depositary shares will be payable on the liquidation preference amount, on a non-cumulative basis, when, as and if declared by the Company’s board of directors, at a rate of 6.95% per annum, quarterly in arrears, on March 15 , June 15 , September 15 , and December 15 of each year, beginning on December 15, 2016 , from and including the date of original issuance. The Series F Preferred Stock represented by the depositary shares is not redeemable prior to September 27, 2021. After that date, the Company may redeem at its option, in whole or in part, the Series F Preferred Stock represented by the depositary shares at a redemption price of $1,000 per share (equivalent to $25 per depositary share) plus any declared and unpaid dividends for prior dividend periods and accrued but unpaid dividends (whether or not declared) for the then current dividend period. Net proceeds from this offering were $278,194 . In addition, the Company incurred $9,306 in underwriting discount and commissions and expenses, which were recognized as a reduction to additional paid-in capital. Stockholders' Equity The following table summarizes the ownership components of total stockholders' equity: Nine Months Ended September 30, 2016 2015 (Amounts in Thousands) AmTrust Non-Controlling Interest Total AmTrust Non-Controlling Interest Total Balance, December 31, $ 2,909,060 $ 176,455 $ 3,085,515 $ 2,037,020 $ 159,181 $ 2,196,201 Net income 370,541 12,222 382,763 430,949 5,978 436,927 Unrealized holding gain (loss) 270,574 — 270,574 (68,968 ) — (68,968 ) Reclassification adjustment (17,993 ) — (17,993 ) 634 — 634 Foreign currency translation (173,883 ) — (173,883 ) (49,204 ) 6 (49,198 ) Unrealized gain on interest rate swap 540 — 540 297 — 297 Extinguishment of 2021 senior notes, equity component (1 ) — (1 ) (3,764 ) (3,764 ) Share exercises, compensation and other 10,545 — 10,545 16,459 — 16,459 Common share (purchase) issuance, net (152,047 ) — (152,047 ) 171,672 — 171,672 Common share dividends (81,167 ) — (81,167 ) (66,121 ) — (66,121 ) Preferred stock issuance, net of fees 417,264 — 417,264 176,529 — 176,529 Preferred stock dividends (31,943 ) — (31,943 ) (22,797 ) — (22,797 ) Capital contribution (distribution), net — (5,413 ) (5,413 ) — 11,609 11,609 Balance, September 30, $ 3,521,490 $ 183,264 $ 3,704,754 $ 2,622,706 $ 176,774 $ 2,799,480 During the nine months ended September 30, 2016 , net income attributable to non-controlling interest was $12,222 and net income attributable to redeemable non-controlling interest was $587 . Net income attributable to non-controlling interest and redeemable non-controlling interest totaled $12,809 for the nine months ended September 30, 2016 . During the nine months ended September 30, 2015 , net income attributable to non-controlling interest was $5,978 and net income attributable to redeemable non-controlling interest was $962 . Net income for non-controlling interest and redeemable non-controlling interest totaled $6,940 for the nine months ended September 30, 2015 . Accumulated Other Comprehensive Income (Loss) The following table summarizes the activities and components of accumulated other comprehensive income (loss): (Amounts in Thousands) Foreign Currency Items Unrealized Gains (Losses) on Investments Interest Rate Swap Hedge Net Benefit Plan Assets and Obligations Recognized in Stockholders' Equity Accumulated Other Comprehensive Income (Loss) Balance, June 30, 2016 $ (176,878 ) $ 145,607 $ (413 ) $ (107 ) $ (31,791 ) Other comprehensive income (loss) before reclassification (89,218 ) 31,529 390 — (57,299 ) Amounts reclassed from accumulated other comprehensive income — (3,399 ) — — (3,399 ) Income tax benefit (expense) — 41,602 (137 ) — 41,465 Net current-period other comprehensive (loss) income (89,218 ) 69,732 253 — (19,233 ) Balance, September 30, 2016 $ (266,096 ) $ 215,339 $ (160 ) $ (107 ) $ (51,024 ) Balance, June 30, 2015 $ (66,108 ) $ 21,487 $ (1,131 ) $ (2,793 ) $ (48,545 ) Other comprehensive income before reclassification 3,274 (25,611 ) 165 — (22,172 ) Amounts reclassed from accumulated other comprehensive income — 2,830 — — 2,830 Income tax benefit (expense) (1,146 ) 7,973 (58 ) — 6,769 Net current-period other comprehensive income 2,128 (14,808 ) 107 — (12,573 ) Balance, September 30, 2015 $ (63,980 ) $ 6,679 $ (1,024 ) $ (2,793 ) $ (61,118 ) (Amounts in Thousands) Foreign Currency Items Unrealized Gains (Losses) on Investments Interest Rate Swap Hedge Net Benefit Plan Assets and Obligations Recognized in Stockholders' Equity Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2015 $ (92,213 ) $ (37,242 ) $ (700 ) $ (107 ) $ (130,262 ) Other comprehensive income (loss) before reclassification (173,883 ) 331,761 831 — 158,709 Amounts reclassed from accumulated other comprehensive income — (17,993 ) — — (17,993 ) Income tax benefit (expense) — (61,187 ) (291 ) — (61,478 ) Net current-period other comprehensive income (loss) (173,883 ) 252,581 540 — 79,238 Balance, September 30, 2016 $ (266,096 ) $ 215,339 $ (160 ) $ (107 ) $ (51,024 ) Balance, December 31, 2014 $ (14,776 ) $ 75,013 $ (1,321 ) $ (2,793 ) $ 56,123 Other comprehensive income before reclassification (75,698 ) (106,105 ) 457 — (181,346 ) Amounts reclassed from accumulated other comprehensive income — 976 — — 976 Income tax benefit (expense) 26,494 36,795 (160 ) — 63,129 Net current-period other comprehensive (loss) income (49,204 ) (68,334 ) 297 — (117,241 ) Balance, September 30, 2015 $ (63,980 ) $ 6,679 $ (1,024 ) $ (2,793 ) $ (61,118 )

Commitment and Contingent Liabi

Commitment and Contingent Liabilities	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitment and Contingent Liabilities	Commitment and Contingent Liabilities Litigation The Company’s insurance subsidiaries are named as defendants in various legal actions arising principally from claims made under insurance policies and contracts. Those actions are considered by the Company in estimating the loss and LAE reserves. The Company’s management believes the resolution of those actions will not have a material adverse effect on the Company’s financial position or results of operations. Pending Acquisition Acquisition of ANV Holding B.V. and its affiliates ("ANV") In April 2016, the Company entered into an agreement to acquire ANV from Ontario Teachers’ Pension Plan Board for approximately $203,000 in cash, subject to purchase price adjustments. ANV is a specialty insurance company that underwrites a variety of commercial property and casualty insurance products through its three Lloyd’s syndicates and managing general underwriter. The Company's acquisition of ANV closed on November 7, 2016.

Segments

Segments	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segments	Segments The Company operates three business segments: Small Commercial Business; Specialty Risk and Extended Warranty; and Specialty Program. The Company also has a former segment, Personal Lines Reinsurance, which is in run-off and is now included within its Corporate and Other segment. The Corporate and Other segment also represents the activities of the holding company as well as a portion of service and fee revenue. In determining total assets (excluding cash and invested assets) by segment, the Company identifies those assets that are attributable to a particular segment such as deferred acquisition cost, reinsurance recoverable, goodwill, intangible assets and prepaid reinsurance while the remaining assets are allocated based on gross written premium by segment. In determining cash and invested assets by segment, the Company matches certain identifiable liabilities such as unearned premium and loss and loss adjustment expense reserves by segment. The remaining cash and invested assets are then allocated based on gross written premium by segment. Investment income and realized gains (losses) are determined by calculating an overall annual return on cash and invested assets and applying that overall return to the cash and invested assets by segment. Ceding commission is allocated to each segment based on that segment’s proportionate share of the Company’s overall acquisition costs. Interest expense is allocated based on gross written premium by segment. Income taxes are allocated on a pro-rata basis based on the Company’s effective tax rate. Additionally, management reviews the performance of underwriting income in assessing the performance of and making decisions regarding the allocation of resources to the segments. Underwriting income excludes, primarily, service and fee revenue, investment income and other revenues, other expenses, interest expense and income taxes. Management believes that providing this information in this manner is essential to providing the Company’s stockholders with an understanding of the Company’s business and operating performance. During three and nine months ended September 30, 2016 and 2015 , the Company's Specialty Program segment derived over ten percent of its gross written premium primarily from one agent. The following tables summarize the results of operations of the business segments for the three and nine months ended September 30, 2016 and 2015 : (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Three Months Ended September 30, 2016: Gross written premium $ 998,071 $ 598,977 $ 437,050 $ — $ 2,034,098 Net written premium 457,869 448,847 309,334 — 1,216,050 Change in unearned premium 59,127 (21,526 ) (57,415 ) — (19,814 ) Net earned premium 516,996 427,321 251,919 — 1,196,236 Loss and loss adjustment expense (344,531 ) (293,956 ) (172,561 ) — (811,048 ) Acquisition costs and other underwriting expenses (125,412 ) (89,784 ) (68,762 ) — (283,958 ) (469,943 ) (383,740 ) (241,323 ) — (1,095,006 ) Underwriting income 47,053 43,581 10,596 — 101,230 Service and fee income 26,800 95,228 106 24,477 146,611 Investment income and realized gain 29,249 24,538 14,424 (62 ) 68,149 Other expenses (67,621 ) (40,503 ) (29,418 ) — (137,542 ) Interest expense (11,883 ) (7,053 ) (5,014 ) — (23,950 ) Foreign currency loss — (8,320 ) — — (8,320 ) Gain on life settlement contracts 2,521 1,614 1,350 — 5,485 Acquisition gain (reduction) on purchase — — — — — Provision for income taxes (5,929 ) (24,810 ) 1,418 (6,195 ) (35,516 ) Equity in earnings of unconsolidated subsidiary – related party — — — 1,954 1,954 Net income $ 20,190 $ 84,275 $ (6,538 ) $ 20,174 $ 118,101 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Three Months Ended September 30, 2015: Gross written premium $ 797,654 $ 577,284 $ 405,875 $ — $ 1,780,813 Net written premium 459,290 380,600 303,093 — 1,142,983 Change in unearned premium 34,364 (30,218 ) (101,721 ) — (97,575 ) Net earned premium 493,654 350,382 201,372 — 1,045,408 Loss and loss adjustment expense (320,391 ) (253,136 ) (136,077 ) — (709,604 ) Acquisition costs and other underwriting expenses (130,792 ) (69,876 ) (57,348 ) — (258,016 ) (451,183 ) (323,012 ) (193,425 ) — (967,620 ) Underwriting income 42,471 27,370 7,947 — 77,788 Service and fee income 24,793 79,064 482 21,804 126,143 Investment income and realized gain 24,359 21,312 12,423 13 58,107 Other expenses (53,047 ) (37,471 ) (26,382 ) — (116,900 ) Interest expense and loss on extinguishment of debt (6,038 ) (4,333 ) (3,048 ) — (13,419 ) Foreign currency loss — 24,721 — — 24,721 Gain on life settlement contracts 1,926 1,584 1,106 — 4,616 (Provision) benefit for income taxes 2,880 7,898 245 1,626 12,649 Equity in earnings of unconsolidated subsidiary – related party — — — 13,477 13,477 Net income $ 43,170 $ 120,145 $ (7,227 ) $ 36,920 $ 193,008 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Nine Months Ended September 30, 2016: Gross written premium $ 3,124,761 $ 1,779,984 $ 1,135,539 $ — $ 6,040,284 Net written premium 1,684,035 1,233,741 787,389 — 3,705,165 Change in unearned premium (89,967 ) (126,695 ) (36,233 ) — (252,895 ) Net earned premium 1,594,068 1,107,046 751,156 — 3,452,270 Loss and loss adjustment expense (1,060,165 ) (736,220 ) (514,129 ) — (2,310,514 ) Acquisition costs and other underwriting expenses (405,854 ) (237,967 ) (203,574 ) — (847,395 ) (1,466,019 ) (974,187 ) (717,703 ) — (3,157,909 ) Underwriting income 128,049 132,859 33,453 — 294,361 Service and fee income 85,082 268,128 1,623 74,249 429,082 Investment income and realized gain 84,296 63,214 43,935 (62 ) 191,383 Other expenses (206,256 ) (117,491 ) (74,951 ) — (398,698 ) Interest expense (31,757 ) (18,090 ) (11,541 ) — (61,388 ) Foreign currency loss — (70,428 ) — — (70,428 ) Gain on life settlement contracts 14,946 8,514 5,431 — 28,891 Acquisition gain on purchase 455 48,320 — — 48,775 (Provision) benefit for income taxes (14,373 ) (60,521 ) 394 (16,660 ) (91,160 ) Equity in earnings of unconsolidated subsidiary – related party — — — 12,532 12,532 Net income $ 60,442 $ 254,505 $ (1,656 ) $ 70,059 $ 383,350 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Nine Months Ended September 30, 2015: Gross written premium $ 2,574,602 $ 1,528,017 $ 1,087,719 $ — $ 5,190,338 Net written premium 1,499,922 975,073 719,898 — 3,194,893 Change in unearned premium (99,218 ) (11,592 ) (120,328 ) — (231,138 ) Net earned premium 1,400,704 963,481 599,570 — 2,963,755 Loss and loss adjustment expense (909,081 ) (647,121 ) (405,160 ) — (1,961,362 ) Acquisition costs and other underwriting expenses (365,184 ) (197,450 ) (165,768 ) — (728,402 ) (1,274,265 ) (844,571 ) (570,928 ) — (2,689,764 ) Underwriting income 126,439 118,910 28,642 — 273,991 Service and fee income 76,468 208,596 846 60,856 346,766 Investment income and realized gain 63,209 49,859 28,789 117 141,974 Other expenses (155,502 ) (92,289 ) (65,696 ) — (313,487 ) Interest expense and loss on extinguishment of debt (18,866 ) (11,197 ) (7,971 ) — (38,034 ) Foreign currency loss — 17,355 — — 17,355 Loss on life settlement contracts 9,466 5,619 4,000 — 19,085 (Provision) benefit for income taxes (8,678 ) (24,068 ) 923 (6,812 ) (38,635 ) Equity in earnings of unconsolidated subsidiary – related party — — — 23,048 23,048 Net income $ 98,362 $ 272,785 $ (10,467 ) $ 77,209 $ 437,889 The following tables summarize net earned premium by major line of business, by segment, for the three and nine months ended September 30, 2016 and 2015 : (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Three Months Ended September 30, 2016: Workers' compensation $ 349,030 $ — $ 149,246 $ 498,276 Warranty — 180,333 — 180,333 Other liability 11,292 26,169 47,332 84,793 Commercial auto and liability, physical damage 47,751 9,164 32,118 89,033 Medical malpractice — — — — Other 108,923 211,655 23,223 343,801 Total net earned premium $ 516,996 $ 427,321 $ 251,919 $ 1,196,236 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Three Months Ended September 30, 2015: Workers' compensation $ 328,099 $ — $ 86,454 $ 414,553 Warranty — 143,202 — 143,202 Other liability 12,081 36,042 58,072 106,195 Commercial auto and liability, physical damage 89,078 (413 ) 27,170 115,835 Medical malpractice — 52,879 — 52,879 Other 64,396 118,672 29,676 212,744 Total net earned premium $ 493,654 $ 350,382 $ 201,372 $ 1,045,408 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Nine Months Ended September 30, 2016: Workers' compensation $ 1,053,967 $ — $ 456,663 $ 1,510,630 Warranty — 527,835 — 527,835 Other liability 16,541 100,187 130,713 247,441 Commercial auto and liability, physical damage 245,647 26,340 97,863 369,850 Medical malpractice — 106,750 — 106,750 Other 277,913 345,934 65,917 689,764 Total net earned premium $ 1,594,068 $ 1,107,046 $ 751,156 $ 3,452,270 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Nine Months Ended September 30, 2015: Workers' compensation $ 942,867 $ — $ 250,400 $ 1,193,267 Warranty — 439,049 — 439,049 Other liability 37,025 101,338 133,925 272,288 Commercial auto and liability, physical damage 208,489 11,741 96,868 317,098 Medical malpractice — 129,333 — 129,333 Other 212,323 282,020 118,377 612,720 Total net earned premium $ 1,400,704 $ 963,481 $ 599,570 $ 2,963,755 The following table summarizes total assets of the business segments as of September 30, 2016 and December 31, 2015 : (Amounts in Thousands) September 30, 2016 December 31, 2015 Small Commercial Business $ 9,861,162 $ 7,781,045 Specialty Risk and Extended Warranty 7,448,937 6,370,861 Specialty Program 4,209,439 2,936,710 Corporate and Other — 2,403 $ 21,519,538 $ 17,091,019

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On November 7, 2016, the Company completed the acquisition of ANV Holding B.V. and its affiliates ("ANV") from Ontario Teachers’ Pension Plan Board for approximately $203,000 in cash. ANV is a specialty insurance company that underwrites a variety of commercial property and casualty insurance products through its three Lloyd’s syndicates and managing general underwriter. On October 28, 2016, the Company announced that it had entered into an agreement to acquire AmeriHealth Casualty Insurance Company ("AmeriHealth Casualty"), a provider of fully insured workers' compensation insurance operating primarily in Pennsylvania and New Jersey, from Independence Health Group, Inc. ("IHG") for approximately $90,000 in cash. The transaction is to be funded with existing working capital. Pending regulatory approval, the transaction is expected to close during the first quarter of 2017. IHG will retain CompServices, Inc. (CompServices), its third party administrator for workers' compensation business. CompServices will provide third-party administrator services to its self-insured customers and to the Company, in accordance with the terms of this transaction.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Amortized Cost, Estimated Market Value and Gross Unrealized Appreciation and Depreciation of Available-for-sale Securities	The cost or amortized cost, gross unrealized gains and losses, and estimated fair value of fixed maturities and equity securities classified as available-for-sale as of September 30, 2016 and December 31, 2015 , are presented below: (Amounts in Thousands) Cost or amortized cost Gross unrealized gains Gross unrealized losses Fair Value Preferred stock $ 4,044 $ — $ (48 ) $ 3,996 Common stock 155,967 12,067 (6,287 ) 161,747 U.S. treasury securities 292,558 3,179 (16 ) 295,721 U.S. government agencies 7,567 112 — 7,679 Municipal bonds 850,475 26,974 (1,460 ) 875,989 Foreign government 134,355 8,435 (528 ) 142,262 Corporate bonds: Finance 1,511,610 70,747 (12,751 ) 1,569,606 Industrial 2,087,449 114,255 (18,256 ) 2,183,448 Utilities 207,328 8,244 (1,869 ) 213,703 Commercial mortgage backed securities 174,224 6,143 (650 ) 179,717 Residential mortgage backed securities: Agency backed 1,028,335 32,991 (81 ) 1,061,245 Non-agency backed 61,910 1,662 (377 ) 63,195 Collateralized loan / debt obligations 419,597 7,694 (1,622 ) 425,669 Asset-backed securities 24,886 814 (119 ) 25,581 $ 6,960,305 $ 293,317 $ (44,064 ) $ 7,209,558 (Amounts in Thousands) Cost or amortized cost Gross unrealized gains Gross unrealized losses Fair value Preferred stock $ 4,869 $ 150 $ (30 ) $ 4,989 Common stock 104,477 3,816 (8,785 ) 99,508 U.S. treasury securities 69,547 1,470 (258 ) 70,759 U.S. government agencies 45,586 235 (263 ) 45,558 Municipal bonds 530,004 11,952 (1,530 ) 540,426 Foreign government 109,645 4,912 (812 ) 113,745 Corporate bonds: Finance 1,358,765 38,058 (34,393 ) 1,362,430 Industrial 1,706,772 20,542 (80,251 ) 1,647,063 Utilities 157,067 1,548 (9,115 ) 149,500 Commercial mortgage backed securities 151,164 1,334 (1,180 ) 151,318 Residential mortgage backed securities: Agency backed 964,059 14,912 (4,133 ) 974,838 Non-agency backed 124,046 322 (4,139 ) 120,229 Collateralized loan / debt obligation 232,245 10 (6,161 ) 226,094 Asset backed securities 33,142 4 (1,309 ) 31,837 $ 5,591,388 $ 99,265 $ (152,359 ) $ 5,538,294
Amortized Cost, Estimated Market Value and Gross Unrealized Appreciation and Depreciation of Trading Securities	The original or amortized cost, estimated market value and gross unrealized appreciation and depreciation of trading securities as of September 30, 2016 and December 31, 2015 are presented in the tables below: (Amounts in Thousands) Cost or amortized cost Gross unrealized gains Gross unrealized losses Market value Common stock $ 34,091 $ 788 $ (440 ) $ 34,439 (Amounts in Thousands) Cost or amortized cost Gross unrealized gains Gross unrealized losses Market value Common stock $ 26,937 $ 739 $ (405 ) $ 27,271
Summary of Available for Sale Fixed Securities by Contractual Maturity	A summary of the Company’s available-for-sale fixed maturities as of September 30, 2016 and December 31, 2015 , by contractual maturity, is shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. September 30, 2016 December 31, 2015 (Amounts in Thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 257,764 $ 258,760 $ 125,563 $ 124,763 Due after one through five years 1,487,745 1,523,695 913,365 909,634 Due after five through ten years 2,947,206 3,091,368 2,586,061 2,537,734 Due after ten years 398,638 414,597 352,397 357,288 Mortgage and asset backed securities 1,708,941 1,755,395 1,504,656 1,504,378 Total fixed maturities $ 6,800,294 $ 7,043,815 $ 5,482,042 $ 5,433,797
Net Investment Income	Net investment income for the three and nine months ended September 30, 2016 and 2015 was derived from the following sources: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Fixed maturities, available-for-sale $ 59,712 $ 39,452 $ 152,140 $ 107,404 Equity securities, available-for-sale 465 1,183 6,927 2,253 Equity securities, trading (40 ) (640 ) (318 ) (600 ) Cash and short term investments 410 844 2,182 3,432 60,547 40,839 160,931 112,489 Investment expenses (628 ) (414 ) (852 ) (1,208 ) $ 59,919 $ 40,425 $ 160,079 $ 111,281
Other than Temporary Impairment, Credit Losses Recognized in Earnings	other-than-temporary impairment ("OTTI") charges of our fixed maturities and equity securities classified as available-for-sale is presented below: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Equity securities recognized in earnings $ 3,021 $ 84 $ 19,977 $ 1,276 Fixed-maturity securities recognized in earnings — 7,552 — 8,842 Other investments 6,440 — 6,440 — $ 9,461 $ 7,636 $ 26,417 $ 10,118
Summary of Gross Unrealized Losses of Fixed-maturities and Equity Securities	The tables below summarize the gross unrealized losses of our fixed maturity and equity securities by length of time the security has continuously been in an unrealized loss position as of September 30, 2016 and December 31, 2015 : Less Than 12 Months 12 Months or More Total (Amounts in Thousands) Fair Market Value Unrealized Losses No. of Positions Held Fair Market Value Unrealized Losses No. of Positions Held Fair Market Value Unrealized Losses Common and preferred stock $ 49,144 $ (6,039 ) 100 $ 1,279 $ (297 ) 24 $ 50,423 $ (6,336 ) U.S. treasury securities 26,829 (15 ) 19 649 (1 ) 1 27,478 (16 ) U.S. government agencies 178 — 2 — — — 178 — Municipal bonds 103,790 (895 ) 98 12,175 (565 ) 24 115,965 (1,460 ) Foreign government 10,311 (528 ) 12 — — — 10,311 (528 ) Corporate bonds: Finance 203,687 (11,638 ) 121 50,990 (1,113 ) 27 254,677 (12,751 ) Industrial 237,197 (14,607 ) 126 87,030 (3,647 ) 54 324,227 (18,254 ) Utilities 22,028 (1,116 ) 21 8,922 (754 ) 4 30,950 (1,870 ) Commercial mortgage backed securities 13,077 (216 ) 12 12,202 (435 ) 38 25,279 (651 ) Residential mortgage backed securities: Agency backed 9,265 (59 ) 27 2,414 (22 ) 22 11,679 (81 ) Non-agency backed 17,544 (376 ) 18 63 (2 ) 2 17,607 (378 ) Collateralized loan / debt obligations 47,636 (273 ) 19 60,349 (1,349 ) 23 107,985 (1,622 ) Asset-backed securities 9,462 (116 ) 19 510 (3 ) 6 9,972 (119 ) Total temporarily impaired securities $ 750,148 $ (35,878 ) 594 $ 236,583 $ (8,188 ) 225 $ 986,731 $ (44,066 ) Less Than 12 Months 12 Months or More Total (Amounts in Thousands) Fair Market Value Unrealized Losses No. of Positions Held Fair Market Value Unrealized Losses No. of Positions Held Fair Market Value Unrealized Losses Common and preferred stock $ 59,302 $ (8,711 ) 67 $ 402 $ (104 ) 2 $ 59,704 $ (8,815 ) U.S. treasury securities 31,658 (232 ) 77 2,586 (26 ) 8 34,244 (258 ) U.S. government agencies 22,412 (262 ) 20 182 (1 ) 2 22,594 (263 ) Municipal bonds 121,550 (867 ) 111 17,163 (663 ) 30 138,713 (1,530 ) Foreign government 18,598 (688 ) 27 5,977 (124 ) 1 24,575 (812 ) Corporate bonds: Finance 604,898 (33,068 ) 349 59,020 (1,325 ) 22 663,918 (34,393 ) Industrial 858,632 (65,887 ) 633 82,495 (14,364 ) 55 941,127 (80,251 ) Utilities 79,358 (5,305 ) 113 7,712 (3,810 ) 5 87,070 (9,115 ) Commercial mortgage backed securities 35,405 (1,079 ) 100 2,870 (101 ) 6 38,275 (1,180 ) Residential mortgage backed securities: Agency backed 334,224 (2,788 ) 163 35,446 (1,345 ) 29 369,670 (4,133 ) Non-agency backed 95,001 (4,077 ) 39 4,023 (62 ) 4 99,024 (4,139 ) Collateralized loan / debt obligations 201,086 (6,161 ) 78 — — — 201,086 (6,161 ) Asset-backed securities 30,302 (1,309 ) 70 — — — 30,302 (1,309 ) Total temporarily impaired securities $ 2,492,426 $ (130,434 ) 1,847 $ 217,876 $ (21,925 ) 164 $ 2,710,302 $ (152,359 )
Notional Amounts of Interest Rate Swaps by Remaining Maturity	The following table presents the notional amounts by remaining maturity of the Company’s interest rate swaps as of September 30, 2016 : Remaining Life of Notional Amount (1) (Amounts in Thousands) One Year Two Through Five Years Six Through Ten Years After Ten Years Total Interest rate swaps $ 40,000 $ 7,591 $ — $ — $ 47,591 (1) Notional amount is not representative of either market risk or credit risk and is not recorded in the consolidated balance sheet.
Fair Values of Restricted Assets	The fair values of the Company's restricted assets as of September 30, 2016 and December 31, 2015 are as follows: (Amounts in Thousands) September 30, 2016 December 31, 2015 Restricted cash and cash equivalents $ 557,159 $ 380,699 Restricted investments - fixed maturities at fair value 1,880,536 1,490,547 Total restricted cash, cash equivalents, and investments $ 2,437,695 $ 1,871,246
Realized Gain (Loss) on Investments	The tables below summarize the gross realized gains and (losses) for the three and nine months ended September 30, 2016 and 2015 : (Amounts in Thousands) Three Months Ended September 30, 2016 Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 17,535 $ (2,582 ) $ 14,953 Equity securities, available-for-sale 553 (1,126 ) (573 ) Equity securities, trading 2,897 (1,902 ) 995 Other investments 3,449 (1,133 ) 2,316 Write-down of other invested assets — (6,440 ) (6,440 ) Write-down of equity securities, available-for-sale — (3,021 ) (3,021 ) $ 24,434 $ (16,204 ) $ 8,230 (Amounts in Thousands) Three Months Ended September 30, 2015 Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 21,435 $ (5,060 ) $ 16,375 Equity securities, available-for-sale — (326 ) (326 ) Equity securities, trading 12,310 (3,041 ) 9,269 Write-down of fixed maturities, available-for-sale — (7,552 ) (7,552 ) Write-down of equity securities, available-for-sale — (84 ) (84 ) $ 33,745 $ (16,063 ) $ 17,682 (Amounts in Thousands) Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 57,346 $ (4,199 ) $ 53,147 Equity securities, available-for-sale 1,821 (1,862 ) (41 ) Equity securities, trading 17,824 (14,396 ) 3,428 Other investments 1,189 (2 ) 1,187 Write-down of equity securities, available-for-sale — (19,977 ) (19,977 ) Write-down of other investments — (6,440 ) (6,440 ) $ 78,180 $ (46,876 ) $ 31,304 (Amounts in Thousands) Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 41,979 $ (12,902 ) $ 29,077 Equity securities, available-for-sale 2,184 (1,955 ) 229 Equity securities, trading 19,047 (7,542 ) 11,505 Write-down of fixed maturities, available-for-sale — (8,842 ) (8,842 ) Write-down of equity securities, available-for-sale — (1,276 ) (1,276 ) $ 63,210 $ (32,517 ) $ 30,693

Fair Value of Financial Instr27

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurement of Financial Assets and Financial Liabilities on Recurring Basis	The following tables present the level within the fair value hierarchy at which the Company’s financial assets and financial liabilities are measured on a recurring basis as of September 30, 2016 and December 31, 2015 : (Amounts in Thousands) Total Level 1 Level 2 Level 3 Assets: U.S. treasury securities $ 295,721 $ 295,721 $ — $ — U.S. government agencies 7,679 — 7,679 — Municipal bonds 875,989 — 875,989 — Foreign government 142,262 — 142,262 — Corporate bonds and other bonds: Finance 1,569,606 — 1,569,606 — Industrial 2,183,448 — 2,183,448 — Utilities 213,703 — 213,703 — Commercial mortgage backed securities 179,717 — 171,846 7,871 Residential mortgage backed securities: Agency backed 1,061,245 — 1,061,245 — Non-agency backed 63,195 — 63,195 — Collateralized loan / debt obligations 425,669 — 403,936 21,733 Asset-backed securities 25,581 — 25,581 — Equity securities, available-for-sale 165,743 111,489 21,075 33,179 Equity securities, trading 34,439 34,439 — — Short term investments 49,008 49,008 — — Other investments 40,267 — — 40,267 Life settlement contracts 332,085 — — 332,085 $ 7,665,357 $ 490,657 $ 6,739,565 $ 435,135 Liabilities: Equity securities sold but not yet purchased $ 23,770 $ 23,770 $ — $ — Life settlement contract profit commission 4,817 — — 4,817 Contingent consideration 59,267 — — 59,267 Derivatives 460 — 460 — $ 88,314 $ 23,770 $ 460 $ 64,084 (Amounts in Thousands) Total Level 1 Level 2 Level 3 Assets: U.S. treasury securities $ 70,759 $ 70,759 $ — $ — U.S. government agencies 45,558 — 45,558 — Municipal bonds 540,426 — 540,426 — Foreign government 113,745 — 113,745 — Corporate bonds and other bonds: Finance 1,362,430 — 1,362,430 — Industrial 1,647,063 — 1,647,063 — Utilities 149,500 — 149,500 — Commercial mortgage backed securities 151,318 — 151,318 — Residential mortgage backed securities: Agency backed 974,838 — 974,838 — Non-agency backed 120,229 — 120,229 — Collateralized loan / debt obligations 226,094 — 226,094 — Asset-backed securities 31,837 — 31,837 — Equity securities, available-for-sale 104,497 38,563 28,723 37,211 Equity securities, trading 27,271 27,271 — — Short term investments 84,266 84,266 — — Other investments 30,309 — — 30,309 Life settlement contracts 264,001 — — 264,001 $ 5,944,141 $ 220,859 $ 5,391,761 $ 331,521 Liabilities: Equity securities sold but not yet purchased $ 18,163 $ 18,163 $ — $ — Fixed maturity securities sold but not yet purchased 20,455 — 20,455 — Life settlement contract profit commission 15,406 — — 15,406 Contingent consideration 77,457 — — 77,457 Derivatives 1,077 — 1,077 — $ 132,558 $ 18,163 $ 21,532 $ 92,863
Changes in Fair Value of Level 3 Financial Assets And Liabilities	The following tables provides a summary of changes in fair value of the Company’s Level 3 financial assets and liabilities for the three and nine months ended September 30, 2016 and 2015 : (Amounts in Thousands) Balance as of June 30, 2016 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of September 30, Other investments $ 38,039 $ (6,403 ) $ 6,124 $ 249 $ (79 ) $ 2,337 $ 40,267 Equity securities, available-for-sale 24,764 (16,983 ) 17,168 (2 ) (7,753 ) 15,985 33,179 Commercial mortgage backed securities — — (194 ) — — 8,065 7,871 Collateralized loan / debt obligations — — (15 ) — — 21,748 21,733 Life settlement contracts 304,434 23,290 — 4,550 (189 ) — 332,085 Life settlement contract profit commission (9,054 ) (763 ) — — 5,000 — (4,817 ) Contingent consideration (64,817 ) (400 ) — (5,443 ) 11,393 — (59,267 ) Total $ 293,366 $ (1,259 ) $ 23,083 $ (646 ) $ 8,372 $ 48,135 $ 371,051 (Amounts in Thousands) Balance as of December 31, 2015 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of September 30, Other investments $ 30,309 $ (7,889 ) $ 6,124 $ 944 $ (365 ) $ 11,144 $ 40,267 Equity securities, available-for-sale 37,211 (16,983 ) 4,719 — (7,753 ) 15,985 33,179 Commercial mortgage backed securities — — (194 ) — — 8,065 7,871 Collateralized loan / debt obligations — — (15 ) — — 21,748 21,733 Life settlement contracts 264,001 82,451 — 15,880 (30,247 ) — 332,085 Life settlement contract profit commission (15,406 ) (9,817 ) — — 20,406 — (4,817 ) Contingent consideration (77,457 ) (2,746 ) — (13,903 ) 34,839 — (59,267 ) Total $ 238,658 $ 45,016 $ 10,634 $ 2,921 $ 16,880 $ 56,942 $ 371,051 (Amounts in Thousands) Balance as of June 30, 2015 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of September 30, 2015 Other investments $ 14,759 $ (793 ) $ (5,300 ) $ 160 $ — $ 13,000 $ 21,826 Equity securities, available-for-sale 40,232 — 3 — (46 ) — 40,189 Life settlement contracts 267,393 13,875 — — (10,019 ) — 271,249 Life settlement contract profit commission (16,994 ) 1,175 — — — — (15,819 ) Contingent consideration (76,790 ) 68 — 403 11,261 — (65,058 ) Total $ 228,600 $ 14,325 $ (5,297 ) $ 563 $ 1,196 $ 13,000 $ 252,387 (Amounts in Thousands) Balance as of December 31, 2014 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of September 30, 2015 Other investments $ 13,315 $ (379 ) $ (5,300 ) $ 1,527 $ (337 ) $ 13,000 $ 21,826 Equity securities, available-for-sale 34,886 — 5,395 — (92 ) 40,189 Life settlement contracts 264,517 52,765 — — (46,033 ) — 271,249 Life settlement contract profit commission (16,534 ) 715 — — — — (15,819 ) Contingent consideration (41,704 ) 68 — (44,557 ) 21,135 — (65,058 ) Total $ 254,480 $ 53,169 $ 95 $ (43,030 ) $ (25,327 ) $ 13,000 $ 252,387
Fair Value Measurements, Recurring and Nonrecurring	The fair value of the Company's material debt arrangements as of September 30, 2016 was as follows: Carrying Value Fair Value 7.25% Subordinated Notes due 2055 $ 145,171 $ 156,180 7.50% Subordinated Notes due 2055 130,656 146,826 2.75% Convertible senior notes due 2044 164,828 202,984 6.125% Notes due 2023 248,116 268,125 Junior subordinated debentures due 2035-2037 122,006 90,310 Trust preferred securities due 2033-2037 92,786 92,739 Republic promissory note 104,685 106,562 Revolving credit facility 130,000 130,000 Other 97,068 97,068
Schedule of Reconciliation of Net Income	A reconciliation of net income for life settlement contracts in the above table to gain on investment in life settlement contracts net of profit commission included in the Consolidated Statements of Income for the three and nine months ended September 30, 2016 and 2015 is as follows: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Net income $ 23,290 $ 13,875 $ 82,451 $ 52,765 Premiums paid (16,434 ) (11,326 ) (41,890 ) (33,614 ) Profit commission (763 ) 1,175 (9,817 ) 715 Other expenses (608 ) 892 (1,853 ) (781 ) Gain on investment in life settlement contracts $ 5,485 $ 4,616 $ 28,891 $ 19,085
Premiums to be Paid for Each of Five Succeeding Fiscal Years to keep Life Insurance Policies in Force	The following summarizes data utilized in estimating the fair value of the portfolio of life insurance policies as of September 30, 2016 and December 31, 2015 , and only includes data for policies to which the Company assigned value at those dates: September 30, December 31, Average age of insured 82.7 years 82.0 years Average life expectancy, months (1) 107 114 Average face amount per policy (Amounts in thousands) $ 6,569 $ 6,564 Effective discount rate (2) 12.7 % 13.7 % (1) Standard life expectancy as adjusted for specific circumstances. (2) Effective discount rate ("EDR") is the Company's estimated internal rate of return on its life settlement contract portfolio and is determined from the gross expected cash flows and valuation of the portfolio. The valuation of the portfolio is calculated net of all reserves using a 7.5% discount rate. The EDR is inclusive of the reserves and the gross expected cash flows of the portfolio. The Company anticipates that the EDR's range is between 12.5% and 17.5% and reflects the uncertainty that exists surrounding the information available as of the reporting date. As the accuracy and reliability of information improves (declines), the EDR will decrease (increase).
Increase or (Decrease) in Carrying Value of Investment in Life Insurance Policies	The Company's assumptions are, by their nature, inherently uncertain and the effect of changes in estimates may be significant. The fair value measurements used in estimating the present value calculation are derived from valuation techniques generally used in the industry that include inputs for the asset that are not based on observable market data. The extent to which the fair value could reasonably vary in the near term has been quantified by evaluating the effect of changes in significant underlying assumptions used to estimate the fair value amount. If the life expectancies were increased or decreased by 4 months and the discount factors were increased or decreased by 1% while all other variables were held constant, the carrying value of the investment in life insurance policies would increase or (decrease) by the unaudited amounts summarized below as of September 30, 2016 and December 31, 2015 : Change in life expectancy (Amounts in Thousands) Plus 4 Months Minus 4 Months Investment in life policies: September 30, 2016 $ (42,844 ) $ 46,044 December 31, 2015 $ (37,697 ) $ 40,997 Change in discount rate (1) (Amounts in Thousands) Plus 1% Minus 1% Investment in life policies: September 30, 2016 $ (28,584 ) $ 31,712 December 31, 2015 $ (26,558 ) $ 29,644 (1) Discount rate is a present value calculation that considers legal risk, credit risk and liquidity risk and is a component of EDR.

Investment in Life Settlements

Investment in Life Settlements (Tables)	9 Months Ended
	Sep. 30, 2016
Investments, All Other Investments [Abstract]
Investment in Life Settlements	The following tables describe the Company’s investment in life settlements as of September 30, 2016 and December 31, 2015 : (Amounts in Thousands, except number of Life Settlement Contracts) Expected Maturity Term in Years Number of Life Settlement Contracts Fair Value (1) Face Value As of September 30, 2016 0-1 — $ — $ — 1-2 2 8,776 12,500 2-3 7 37,572 61,000 3-4 9 35,839 64,422 4-5 12 36,209 99,000 Thereafter 226 213,689 1,405,313 Total 256 $ 332,085 $ 1,642,235 (Amounts in Thousands, except number of Life Settlement Contracts) Expected Maturity Term in Years Number of Life Settlement Contracts Fair Value (1) Face Value As of December 31, 2015 0-1 — $ — $ — 1-2 — — — 2-3 8 31,261 70,500 3-4 8 20,117 46,500 4-5 4 6,760 20,000 Thereafter 235 205,863 1,481,313 Total 255 $ 264,001 $ 1,618,313 (1) The Company determined the fair value as of September 30, 2016 based on 224 policies out of 256 policies, as the Company assigned no value to 32 of the policies as of September 30, 2016 . The Company determined the fair value as of December 31, 2015 based on 213 policies out of 255 policies, as the Company assigned no value to 42 of the policies as of December 31, 2015 . The Company estimated the fair value of a life insurance policy using a cash flow model with an appropriate discount rate. In some cases, the cash flow model calculates the value of an individual policy to be negative, and therefore the fair value of the policy is zero as no liability exists when a negative value is calculated. The Company is not contractually bound to pay the premium on its life settlement contracts and, therefore, would not pay a willing buyer to assume title of these contracts. Additionally, certain of the Company's acquired policies were structured to have low premium payments at inception of the policy term, which later escalate greatly towards the tail end of the policy term. At the current time, the Company expenses all premium paid, even on policies with zero fair value. Once the premium payments escalate, the Company may allow the policies to lapse. In the event that death benefits are realized in the time frame between initial acquisition and premium escalation, it is a benefit to cash flow. For these contracts where the Company determined the fair value to be negative and therefore assigned a fair value of zero, the table below details the amount of premiums paid and the death benefits received during the twelve months preceding September 30, 2016 and December 31, 2015 : (Amounts in Thousands, except number of Life Settlement Contracts) September 30, 2016 December 31, 2015 Number of policies with a negative value from discounted cash flow model as of period end 32 42 Premiums paid for the preceding twelve month period for period ended $ 4,941 $ 4,971 Death benefit received $ — $ —
Premiums to be Paid for Each of Five Succeeding Fiscal Years to keep Life Insurance Policies in Force	Premiums to be paid by the LSC Entities for each of the five succeeding fiscal years to keep the life insurance policies in force as of September 30, 2016 , are as follows: (Amounts in Thousands) Premiums Due on Life Settlement Contracts 2016 $ 66,685 2017 46,386 2018 47,392 2019 44,589 2020 40,979 Thereafter 469,780 Total $ 715,811

Deferred Policy Acquisitions 29

Deferred Policy Acquisitions Costs (Tables)	9 Months Ended
	Sep. 30, 2016
Insurance [Abstract]
Deferred Policy Acquisition Costs	The following table reflects the amounts of policy acquisition costs deferred and amortized for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Balance, beginning of period $ 873,641 $ 695,150 $ 704,243 $ 628,383 Acquisition costs deferred 289,790 190,632 820,154 582,091 Amortization (198,789 ) (171,556 ) (559,755 ) (496,248 ) Balance, end of period $ 964,642 $ 714,226 $ 964,642 $ 714,226

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Borrowings	The Company’s outstanding debt consisted of the following at September 30, 2016 and December 31, 2015 : (Amounts in Thousands) September 30, 2016 December 31, 2015 Revolving credit facility $ 130,000 $ 130,000 5.5% Convertible senior notes due 2021 (the "2021 Notes") 5,190 5,103 2.75% Convertible senior notes due 2044 (the "2044 Notes") 164,828 160,258 6.125% Senior notes due 2023 (the "2023 Notes") 248,116 247,911 Junior subordinated debentures (the "2035-2037 Notes") 122,006 118,226 Trust preferred securities (the "2033-2037 TPS Notes") 92,786 — 7.25% Subordinated Notes due 2055 (the "7.25% 2055 Notes") 145,171 145,078 7.50% Subordinated Notes due 2055 (the "7.50% 2055 Notes") 130,656 130,572 Secured loan agreements 77,971 38,455 Promissory notes 118,592 13,753 $ 1,235,316 $ 989,356 The table below summarizes the Company’s trust preferred securities assumed in the Republic acquisition as of September 30, 2016 : (Amounts in Thousands) Aggregate Aggregate Aggregate Stated Per Annum RIG Capital Trust I $ 10,000 $ 310 $ 10,310 9/30/2033 4.631 (1) RIG Capital Statutory Trust II 20,000 619 20,619 10/29/2033 4.449 (2) RIG Capital Trust III 20,000 619 20,619 12/15/2036 3.853 (3) RIG Capital Trust IV 25,000 774 25,774 6/15/2037 3.853 (3) RIG Capital Trust V 15,000 464 15,464 9/15/2037 3.950 (4) Total trust preferred securities $ 90,000 $ 2,786 $ 92,786 (1) The interest rate is three-month LIBOR plus 4.00% . (2) The interest rate is three-month LIBOR plus 3.85% . (3) The interest rate is three-month LIBOR plus 3.20% . (4) The interest rate is three-month LIBOR plus 3.30% .
Schedule of Line of Credit Facilities	Additionally, the Company utilizes various letters of credit in its operations. The following is a summary of the Company's letters of credit as of September 30, 2016 : (Amounts in Thousands) Letters of Credit Limit Letters of Credit Outstanding Letters of Credit Available Revolving credit facility $ 175,000 $ 114,156 $ 60,844 Funds at Lloyd's facility, in USD equivalent 389,280 380,494 8,786 ING Bank N.V. and Deutsche Bank Netherlands N.V. facilities, in USD equivalent 88,404 63,217 25,187 Comerica bank letters of credit 75,000 48,134 26,866 Other letters of credit, in aggregate 1,550 1,550 —
Aggregate Scheduled Maturities of Borrowings	Aggregate scheduled maturities of the Company’s outstanding debt, excluding unamortized deferred origination costs, at September 30, 2016 are: (Amounts in Thousands) 2016 $ 1,814 2017 33,766 2018 36,056 2019 160,939 2020 26,685 Thereafter 992,308 (1) Total scheduled payments 1,251,568 Unamortized deferred origination costs (16,252 ) 1,235,316 (1) Amount includes debt outstanding under the 2021 Notes and 2044 Notes, which is net of unamortized original issue discount of $764 and $47,440 , respectively.
Interest Income and Interest Expense Disclosure	Interest expense, including amortization of original issue discount and deferred origination costs, as well as applicable bank fees, related to the Company's outstanding debt and letters of credit for the three and nine months ended September 30, 2016 and 2015 was: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Revolving credit facility $ 1,134 $ 1,092 $ 3,388 $ 2,636 Funds at Lloyd's facility 1,065 639 3,387 2,320 2021 Notes 116 117 345 711 2023 Notes 3,897 3,897 11,690 11,690 2035-2037 Notes 1,548 1,442 4,609 5,157 2033-2037 TPS Notes 981 — 1,750 — 2044 Notes 3,170 3,065 9,402 9,096 7.25% 2055 Notes 2,750 2,750 8,250 3,118 7.50% 2055 Notes 2,559 408 7,677 408 Secured loan agreements 756 212 1,768 671 Promissory notes 1,698 157 3,253 467 Other, including interest income 4,276 (917 ) 5,869 (3,511 ) $ 23,950 $ 12,862 $ 61,388 $ 32,763

Acquisition Costs and Other U31

Acquisition Costs and Other Underwriting Expenses (Tables)	9 Months Ended
	Sep. 30, 2016
Acquisition Costs and Other Underwriting Expenses [Abstract]
Business Acquisitions Components Of Acquisition Related Costs	The following table summarizes the components of acquisition costs and other underwriting expenses for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Policy acquisition expenses $ 116,434 $ 131,083 $ 365,804 $ 336,977 Salaries and benefits 140,300 112,769 424,834 355,927 Other insurance general and administrative expenses 27,224 14,164 56,757 35,498 $ 283,958 $ 258,016 $ 847,395 $ 728,402

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Summary of Elements Used in Calculating Basic and Diluted Earnings Per Share	The following table is a summary of the elements used in calculating basic and diluted earnings per share for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands, except for earnings per share) 2016 2015 2016 2015 Basic earnings per share: Net income attributable to AmTrust common shareholders $ 103,550 $ 182,708 $ 338,598 $ 408,152 Less: Net income allocated to participating securities and redeemable non-controlling interest — 469 — 1,072 Net income allocated to AmTrust common shareholders $ 103,550 $ 182,239 $ 338,598 $ 407,080 Weighted average common shares outstanding – basic 170,928 165,608 173,173 164,470 Less: Weighted average participating shares outstanding — 426 — 432 Weighted average common shares outstanding - basic 170,928 165,182 173,173 164,038 Net income per AmTrust common share - basic $ 0.61 $ 1.10 $ 1.96 $ 2.48 Diluted earnings per share: Net income attributable to AmTrust common shareholders $ 103,550 $ 182,708 $ 338,598 $ 408,152 Less: Net income allocated to participating securities and redeemable non-controlling interest — 469 — 1,072 Net income allocated to AmTrust common shareholders $ 103,550 $ 182,239 $ 338,598 $ 407,080 Weighted average common shares outstanding – basic 170,928 165,182 173,173 164,038 Plus: Dilutive effect of stock options, convertible debt, other 2,193 3,090 1,978 3,454 Weighted average common shares outstanding – dilutive 173,121 168,272 175,151 167,492 Net income per AmTrust common shares – diluted $ 0.60 $ 1.09 $ 1.93 $ 2.43

Share Based Compensation (Table

Share Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Option Granted, Exercised and Expired	The following schedule shows all options granted, exercised, and expired under the Plan for the nine months ended September 30, 2016 and 2015 : 2016 2015 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at beginning of period 2,783,880 $ 6.99 3,868,740 $ 5.80 Granted — — 85,000 27.09 Exercised (411,913 ) 3.96 (1,018,950 ) 4.65 Canceled or terminated (13,872 ) 24.69 (75,148 ) 9.17 Outstanding at end of period 2,358,095 7.41 2,859,642 6.75
Summary of Restricted Stock and RSU Activity	A summary of the Company’s restricted stock and RSU activity for the nine months ended September 30, 2016 and 2015 is shown below: 2016 2015 Shares or Units Weighted Average Grant Date Fair Value Shares or Units Weighted Average Grant Date Fair Value Non-vested at beginning of period 1,853,516 $ 20.54 2,611,022 $ 16.70 Granted 873,388 26.03 465,400 29.19 Vested (816,538 ) 17.50 (838,918 ) 14.53 Forfeited (49,951 ) 24.17 (33,648 ) 20.95 Non-vested at end of period 1,860,415 24.35 2,203,856 20.10
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The per share fair value of options was estimated at the date of grant based on the following weighted average assumptions for the nine months ended September 30, 2015: 2015 Volatility 40.95 % Risk-free interest rate 1.95 % Weighted average expected lives in years 6.25 Dividend rate 1.85 % Forfeiture rate 0.50 %
Schedule of Share-based Compensation, Performance Shares	A summary of the Company's PSU activity for the nine months ended September 30, 2016 and 2015 is shown below: 2016 2015 Shares or Units Weighted Average Grant Date Fair Value Shares or Units Weighted Average Grant Date Fair Value Non-vested at beginning of period 752,466 $ 24.58 549,670 $ 19.42 Granted 198,881 26.16 373,628 29.93 Vested (234,358 ) 22.89 (155,842 ) 18.86 Forfeited (35,766 ) 25.57 (9,406 ) 27.07 Non-vested at end of period 681,223 25.57 758,050 24.62

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Reconciliation of Statutory Income Tax Rate to Effective Tax Rate	The following table is a reconciliation of the Company’s statutory income tax expense to its effective tax rate for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Income before equity in earnings of unconsolidated subsidiaries $ 151,663 $ 166,882 $ 461,978 $ 453,476 Tax at federal statutory rate of 35% $ 53,082 $ 58,409 $ 161,692 $ 158,717 Tax effects resulting from: Tax rate differences 7,898 (8,797 ) (42,738 ) (32,286 ) Adjustment to prior year taxes (402 ) (74,385 ) (402 ) (82,689 ) Permanent adjustments (23,820 ) (9,657 ) (22,615 ) (12,474 ) Valuation allowance (319 ) — (10,255 ) — Other, net (923 ) 21,781 5,478 7,367 $ 35,516 $ (12,649 ) $ 91,160 $ 38,635 Effective tax rate 23.4 % (7.6 )% 19.7 % 8.5 %

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Results of Operations Related to Reinsurance Agreements	The following is the effect on the Company’s results of operations for the three and nine months ended September 30, 2016 and 2015 related to Maiden Reinsurance agreements: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in Thousands) 2016 2015 2016 2015 Results of operations: Premium written – ceded $ (514,802 ) $ (453,981 ) $ (1,587,757 ) $ (1,504,701 ) Change in unearned premium – ceded (1,023 ) (13,522 ) 126,379 204,170 Earned premium - ceded $ (515,825 ) $ (467,503 ) $ (1,461,378 ) $ (1,300,531 ) Ceding commission on premium written $ 183,457 $ 144,625 $ 512,995 $ 473,480 Ceding commission – deferred (25,241 ) (6,589 ) (72,434 ) (87,535 ) Ceding commission – earned $ 158,216 $ 138,036 $ 440,561 $ 385,945 Incurred loss and loss adjustment expense – ceded $ 334,878 $ 346,123 $ 994,212 $ 932,053

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2016
Genworth
Business Acquisition [Line Items]
Schedule of Preliminary Assets Acquired and Liabilities Assumed	A summary of the preliminary assets acquired and liabilities assumed for Genworth are as follows: (Amounts in Thousands) Assets Cash and investments $ 239,695 Reinsurance recoverable 27,570 Other assets 8,422 Property and equipment 964 Total assets $ 276,651 Liabilities Loss and loss adjustment expense reserves $ 84,463 Unearned premiums 76,308 Accrued expenses and other liabilities 13,060 Total liabilities $ 173,831 Acquisition price $ 54,500 Acquisition gain $ 48,320
Republic
Business Acquisition [Line Items]
Schedule of Preliminary Assets Acquired and Liabilities Assumed	A summary of the preliminary assets acquired and liabilities assumed for Republic are as follows: (Amounts in Thousands) Assets Cash and investments $ 621,068 Premium receivable, net 85,455 Accrued interest and dividends 4,779 Reinsurance recoverable 629,488 Deferred tax assets 42,745 Other assets 223,619 Property and equipment 1,511 Goodwill and intangible assets 119,106 Total assets $ 1,727,771 Liabilities Loss and loss adjustment expense reserves $ 885,898 Unearned premiums 301,972 Trust preferred outstanding 92,786 Accrued expenses and other liabilities 131,092 Funds held under reinsurance treaties 83,331 Total liabilities $ 1,495,079 Acquisition price $ 232,692
N.V. Nationale Borg-Maatschappij and Affiliates
Business Acquisition [Line Items]
Schedule of Preliminary Assets Acquired and Liabilities Assumed	A summary of the preliminary assets acquired and liabilities assumed for Nationale Borg are as follows: (Amounts in Thousands) Assets Cash and investments $ 229,607 Premium receivable 4,301 Accrued interest and dividends 83 Reinsurance recoverable 4,322 Other assets 8,414 Property and equipment 10,319 Goodwill and intangible assets 64,328 Total assets $ 321,374 Liabilities Loss and loss adjustment expense reserves $ 87,813 Unearned premiums 24,782 Accrued expenses and other liabilities 29,196 Total liabilities $ 141,791 Acquisition price $ 179,583
ARI Mutual Insurance Company
Business Acquisition [Line Items]
Schedule of Preliminary Assets Acquired and Liabilities Assumed	A summary of the preliminary assets acquired and liabilities assumed for ARI are as follows: (Amounts in Thousands) Assets Cash and investments $ 53,917 Premium receivable, net 15,577 Accrued interest and dividends 375 Reinsurance recoverable 17,554 Other assets 2,116 Intangible assets 1,097 Total assets $ 90,636 Liabilities Loss and loss adjustment expense reserves $ 59,723 Unearned premiums 18,672 Accrued expenses and other liabilities 7,968 Total liabilities $ 86,363 Acquisition price $ 3,819 Acquisition gain $ 454
Springfield
Business Acquisition [Line Items]
Schedule of Preliminary Assets Acquired and Liabilities Assumed	A summary of the preliminary assets acquired and liabilities assumed for Springfield are as follows: (Amounts in Thousands) Assets Cash and investments $ 93,837 Premium receivable, net 4,651 Accrued interest and dividends 470 Other assets 2,752 Deferred tax asset 1,905 Property and equipment 1,376 Goodwill 4,253 Total assets $ 109,244 Liabilities Loss and loss adjustment expense reserves $ 65,725 Unearned premiums 7,006 Accrued expenses and other liabilities 4,199 Reinsurance payable on paid losses 740 Total liabilities $ 77,670 Acquisition price $ 31,574
Warranty Solutions
Business Acquisition [Line Items]
Schedule of Preliminary Assets Acquired and Liabilities Assumed	A summary of the assets acquired and liabilities assumed for Warranty Solutions are as follows: (Amounts in Thousands) Assets Cash and investments $ 192,015 Prepaid reinsurance premium 77,777 Other assets 16,346 Deferred tax asset 26,481 Goodwill and intangible assets 117,504 Total assets $ 430,123 Liabilities Loss and loss expense reserves $ 3,013 Unearned premiums 182,441 Accrued expenses and other liabilities 88,422 Total liabilities $ 273,876 Acquisition price $ 156,247

Shareholder Equity and Accumu37

Shareholder Equity and Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Ownership Components of Total Equity	The following table summarizes the ownership components of total stockholders' equity: Nine Months Ended September 30, 2016 2015 (Amounts in Thousands) AmTrust Non-Controlling Interest Total AmTrust Non-Controlling Interest Total Balance, December 31, $ 2,909,060 $ 176,455 $ 3,085,515 $ 2,037,020 $ 159,181 $ 2,196,201 Net income 370,541 12,222 382,763 430,949 5,978 436,927 Unrealized holding gain (loss) 270,574 — 270,574 (68,968 ) — (68,968 ) Reclassification adjustment (17,993 ) — (17,993 ) 634 — 634 Foreign currency translation (173,883 ) — (173,883 ) (49,204 ) 6 (49,198 ) Unrealized gain on interest rate swap 540 — 540 297 — 297 Extinguishment of 2021 senior notes, equity component (1 ) — (1 ) (3,764 ) (3,764 ) Share exercises, compensation and other 10,545 — 10,545 16,459 — 16,459 Common share (purchase) issuance, net (152,047 ) — (152,047 ) 171,672 — 171,672 Common share dividends (81,167 ) — (81,167 ) (66,121 ) — (66,121 ) Preferred stock issuance, net of fees 417,264 — 417,264 176,529 — 176,529 Preferred stock dividends (31,943 ) — (31,943 ) (22,797 ) — (22,797 ) Capital contribution (distribution), net — (5,413 ) (5,413 ) — 11,609 11,609 Balance, September 30, $ 3,521,490 $ 183,264 $ 3,704,754 $ 2,622,706 $ 176,774 $ 2,799,480 During the nine months ended September 30, 2016 , net income attributable to non-controlling interest was $12,222 and net income attributable to redeemable non-controlling interest was $587 . Net income attributable to non-controlling interest and redeemable non-controlling interest totaled $12,809 for the nine months ended September 30, 2016 . During the nine months ended September 30, 2015 , net income attributable to non-controlling interest was $5,978 and net income attributable to redeemable non-controlling interest was $962 . Net income for non-controlling interest and redeemable non-controlling interest totaled $6,940 for the nine months ended September 30, 2015 . Accumulated Other Comprehensive Income (Loss) The following table summarizes the activities and components of accumulated other comprehensive income (loss): (Amounts in Thousands) Foreign Currency Items Unrealized Gains (Losses) on Investments Interest Rate Swap Hedge Net Benefit Plan Assets and Obligations Recognized in Stockholders' Equity Accumulated Other Comprehensive Income (Loss) Balance, June 30, 2016 $ (176,878 ) $ 145,607 $ (413 ) $ (107 ) $ (31,791 ) Other comprehensive income (loss) before reclassification (89,218 ) 31,529 390 — (57,299 ) Amounts reclassed from accumulated other comprehensive income — (3,399 ) — — (3,399 ) Income tax benefit (expense) — 41,602 (137 ) — 41,465 Net current-period other comprehensive (loss) income (89,218 ) 69,732 253 — (19,233 ) Balance, September 30, 2016 $ (266,096 ) $ 215,339 $ (160 ) $ (107 ) $ (51,024 ) Balance, June 30, 2015 $ (66,108 ) $ 21,487 $ (1,131 ) $ (2,793 ) $ (48,545 ) Other comprehensive income before reclassification 3,274 (25,611 ) 165 — (22,172 ) Amounts reclassed from accumulated other comprehensive income — 2,830 — — 2,830 Income tax benefit (expense) (1,146 ) 7,973 (58 ) — 6,769 Net current-period other comprehensive income 2,128 (14,808 ) 107 — (12,573 ) Balance, September 30, 2015 $ (63,980 ) $ 6,679 $ (1,024 ) $ (2,793 ) $ (61,118 ) (Amounts in Thousands) Foreign Currency Items Unrealized Gains (Losses) on Investments Interest Rate Swap Hedge Net Benefit Plan Assets and Obligations Recognized in Stockholders' Equity Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2015 $ (92,213 ) $ (37,242 ) $ (700 ) $ (107 ) $ (130,262 ) Other comprehensive income (loss) before reclassification (173,883 ) 331,761 831 — 158,709 Amounts reclassed from accumulated other comprehensive income — (17,993 ) — — (17,993 ) Income tax benefit (expense) — (61,187 ) (291 ) — (61,478 ) Net current-period other comprehensive income (loss) (173,883 ) 252,581 540 — 79,238 Balance, September 30, 2016 $ (266,096 ) $ 215,339 $ (160 ) $ (107 ) $ (51,024 ) Balance, December 31, 2014 $ (14,776 ) $ 75,013 $ (1,321 ) $ (2,793 ) $ 56,123 Other comprehensive income before reclassification (75,698 ) (106,105 ) 457 — (181,346 ) Amounts reclassed from accumulated other comprehensive income — 976 — — 976 Income tax benefit (expense) 26,494 36,795 (160 ) — 63,129 Net current-period other comprehensive (loss) income (49,204 ) (68,334 ) 297 — (117,241 ) Balance, September 30, 2015 $ (63,980 ) $ 6,679 $ (1,024 ) $ (2,793 ) $ (61,118 )
Schedule of Accumulated Other Comprehensive Income (Loss)	(Amounts in Thousands) Foreign Currency Items Unrealized Gains (Losses) on Investments Interest Rate Swap Hedge Net Benefit Plan Assets and Obligations Recognized in Stockholders' Equity Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2015 $ (92,213 ) $ (37,242 ) $ (700 ) $ (107 ) $ (130,262 ) Other comprehensive income (loss) before reclassification (173,883 ) 331,761 831 — 158,709 Amounts reclassed from accumulated other comprehensive income — (17,993 ) — — (17,993 ) Income tax benefit (expense) — (61,187 ) (291 ) — (61,478 ) Net current-period other comprehensive income (loss) (173,883 ) 252,581 540 — 79,238 Balance, September 30, 2016 $ (266,096 ) $ 215,339 $ (160 ) $ (107 ) $ (51,024 ) Balance, December 31, 2014 $ (14,776 ) $ 75,013 $ (1,321 ) $ (2,793 ) $ 56,123 Other comprehensive income before reclassification (75,698 ) (106,105 ) 457 — (181,346 ) Amounts reclassed from accumulated other comprehensive income — 976 — — 976 Income tax benefit (expense) 26,494 36,795 (160 ) — 63,129 Net current-period other comprehensive (loss) income (49,204 ) (68,334 ) 297 — (117,241 ) Balance, September 30, 2015 $ (63,980 ) $ 6,679 $ (1,024 ) $ (2,793 ) $ (61,118 )

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Results of Operations of Business Segments	The following tables summarize the results of operations of the business segments for the three and nine months ended September 30, 2016 and 2015 : (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Three Months Ended September 30, 2016: Gross written premium $ 998,071 $ 598,977 $ 437,050 $ — $ 2,034,098 Net written premium 457,869 448,847 309,334 — 1,216,050 Change in unearned premium 59,127 (21,526 ) (57,415 ) — (19,814 ) Net earned premium 516,996 427,321 251,919 — 1,196,236 Loss and loss adjustment expense (344,531 ) (293,956 ) (172,561 ) — (811,048 ) Acquisition costs and other underwriting expenses (125,412 ) (89,784 ) (68,762 ) — (283,958 ) (469,943 ) (383,740 ) (241,323 ) — (1,095,006 ) Underwriting income 47,053 43,581 10,596 — 101,230 Service and fee income 26,800 95,228 106 24,477 146,611 Investment income and realized gain 29,249 24,538 14,424 (62 ) 68,149 Other expenses (67,621 ) (40,503 ) (29,418 ) — (137,542 ) Interest expense (11,883 ) (7,053 ) (5,014 ) — (23,950 ) Foreign currency loss — (8,320 ) — — (8,320 ) Gain on life settlement contracts 2,521 1,614 1,350 — 5,485 Acquisition gain (reduction) on purchase — — — — — Provision for income taxes (5,929 ) (24,810 ) 1,418 (6,195 ) (35,516 ) Equity in earnings of unconsolidated subsidiary – related party — — — 1,954 1,954 Net income $ 20,190 $ 84,275 $ (6,538 ) $ 20,174 $ 118,101 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Three Months Ended September 30, 2015: Gross written premium $ 797,654 $ 577,284 $ 405,875 $ — $ 1,780,813 Net written premium 459,290 380,600 303,093 — 1,142,983 Change in unearned premium 34,364 (30,218 ) (101,721 ) — (97,575 ) Net earned premium 493,654 350,382 201,372 — 1,045,408 Loss and loss adjustment expense (320,391 ) (253,136 ) (136,077 ) — (709,604 ) Acquisition costs and other underwriting expenses (130,792 ) (69,876 ) (57,348 ) — (258,016 ) (451,183 ) (323,012 ) (193,425 ) — (967,620 ) Underwriting income 42,471 27,370 7,947 — 77,788 Service and fee income 24,793 79,064 482 21,804 126,143 Investment income and realized gain 24,359 21,312 12,423 13 58,107 Other expenses (53,047 ) (37,471 ) (26,382 ) — (116,900 ) Interest expense and loss on extinguishment of debt (6,038 ) (4,333 ) (3,048 ) — (13,419 ) Foreign currency loss — 24,721 — — 24,721 Gain on life settlement contracts 1,926 1,584 1,106 — 4,616 (Provision) benefit for income taxes 2,880 7,898 245 1,626 12,649 Equity in earnings of unconsolidated subsidiary – related party — — — 13,477 13,477 Net income $ 43,170 $ 120,145 $ (7,227 ) $ 36,920 $ 193,008 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Nine Months Ended September 30, 2016: Gross written premium $ 3,124,761 $ 1,779,984 $ 1,135,539 $ — $ 6,040,284 Net written premium 1,684,035 1,233,741 787,389 — 3,705,165 Change in unearned premium (89,967 ) (126,695 ) (36,233 ) — (252,895 ) Net earned premium 1,594,068 1,107,046 751,156 — 3,452,270 Loss and loss adjustment expense (1,060,165 ) (736,220 ) (514,129 ) — (2,310,514 ) Acquisition costs and other underwriting expenses (405,854 ) (237,967 ) (203,574 ) — (847,395 ) (1,466,019 ) (974,187 ) (717,703 ) — (3,157,909 ) Underwriting income 128,049 132,859 33,453 — 294,361 Service and fee income 85,082 268,128 1,623 74,249 429,082 Investment income and realized gain 84,296 63,214 43,935 (62 ) 191,383 Other expenses (206,256 ) (117,491 ) (74,951 ) — (398,698 ) Interest expense (31,757 ) (18,090 ) (11,541 ) — (61,388 ) Foreign currency loss — (70,428 ) — — (70,428 ) Gain on life settlement contracts 14,946 8,514 5,431 — 28,891 Acquisition gain on purchase 455 48,320 — — 48,775 (Provision) benefit for income taxes (14,373 ) (60,521 ) 394 (16,660 ) (91,160 ) Equity in earnings of unconsolidated subsidiary – related party — — — 12,532 12,532 Net income $ 60,442 $ 254,505 $ (1,656 ) $ 70,059 $ 383,350 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Nine Months Ended September 30, 2015: Gross written premium $ 2,574,602 $ 1,528,017 $ 1,087,719 $ — $ 5,190,338 Net written premium 1,499,922 975,073 719,898 — 3,194,893 Change in unearned premium (99,218 ) (11,592 ) (120,328 ) — (231,138 ) Net earned premium 1,400,704 963,481 599,570 — 2,963,755 Loss and loss adjustment expense (909,081 ) (647,121 ) (405,160 ) — (1,961,362 ) Acquisition costs and other underwriting expenses (365,184 ) (197,450 ) (165,768 ) — (728,402 ) (1,274,265 ) (844,571 ) (570,928 ) — (2,689,764 ) Underwriting income 126,439 118,910 28,642 — 273,991 Service and fee income 76,468 208,596 846 60,856 346,766 Investment income and realized gain 63,209 49,859 28,789 117 141,974 Other expenses (155,502 ) (92,289 ) (65,696 ) — (313,487 ) Interest expense and loss on extinguishment of debt (18,866 ) (11,197 ) (7,971 ) — (38,034 ) Foreign currency loss — 17,355 — — 17,355 Loss on life settlement contracts 9,466 5,619 4,000 — 19,085 (Provision) benefit for income taxes (8,678 ) (24,068 ) 923 (6,812 ) (38,635 ) Equity in earnings of unconsolidated subsidiary – related party — — — 23,048 23,048 Net income $ 98,362 $ 272,785 $ (10,467 ) $ 77,209 $ 437,889 The following tables summarize net earned premium by major line of business, by segment, for the three and nine months ended September 30, 2016 and 2015 : (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Three Months Ended September 30, 2016: Workers' compensation $ 349,030 $ — $ 149,246 $ 498,276 Warranty — 180,333 — 180,333 Other liability 11,292 26,169 47,332 84,793 Commercial auto and liability, physical damage 47,751 9,164 32,118 89,033 Medical malpractice — — — — Other 108,923 211,655 23,223 343,801 Total net earned premium $ 516,996 $ 427,321 $ 251,919 $ 1,196,236 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Three Months Ended September 30, 2015: Workers' compensation $ 328,099 $ — $ 86,454 $ 414,553 Warranty — 143,202 — 143,202 Other liability 12,081 36,042 58,072 106,195 Commercial auto and liability, physical damage 89,078 (413 ) 27,170 115,835 Medical malpractice — 52,879 — 52,879 Other 64,396 118,672 29,676 212,744 Total net earned premium $ 493,654 $ 350,382 $ 201,372 $ 1,045,408 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Nine Months Ended September 30, 2016: Workers' compensation $ 1,053,967 $ — $ 456,663 $ 1,510,630 Warranty — 527,835 — 527,835 Other liability 16,541 100,187 130,713 247,441 Commercial auto and liability, physical damage 245,647 26,340 97,863 369,850 Medical malpractice — 106,750 — 106,750 Other 277,913 345,934 65,917 689,764 Total net earned premium $ 1,594,068 $ 1,107,046 $ 751,156 $ 3,452,270 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Nine Months Ended September 30, 2015: Workers' compensation $ 942,867 $ — $ 250,400 $ 1,193,267 Warranty — 439,049 — 439,049 Other liability 37,025 101,338 133,925 272,288 Commercial auto and liability, physical damage 208,489 11,741 96,868 317,098 Medical malpractice — 129,333 — 129,333 Other 212,323 282,020 118,377 612,720 Total net earned premium $ 1,400,704 $ 963,481 $ 599,570 $ 2,963,755
Long Lived Assets and Total Assets of Business Segments	The following table summarizes total assets of the business segments as of September 30, 2016 and December 31, 2015 : (Amounts in Thousands) September 30, 2016 December 31, 2015 Small Commercial Business $ 9,861,162 $ 7,781,045 Specialty Risk and Extended Warranty 7,448,937 6,370,861 Specialty Program 4,209,439 2,936,710 Corporate and Other — 2,403 $ 21,519,538 $ 17,091,019

Basis of Reporting Basis of Pre

Basis of Reporting Basis of Presentation (Details) $ in Thousands	Feb. 02, 2016	Sep. 30, 2015USD ($)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Stock split, conversion ratio	2
Securities Sold But Not Yet Purchased, At Fair Value, Included in Changes in Accrued Expenses and Other Current Liabilities | Securities Sold But Not Yet Purchased, At Fair Value Moved to Investing and Financing Activities
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Correction of immaterial error		$ 75,573

Investments - Amortized Cost, E

Investments - Amortized Cost, Estimated Market Value and Gross Unrealized Appreciation and Depreciation of Available-for-sale Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	$ 6,960,305	$ 5,591,388
Gross unrealized gains	293,317	99,265
Gross unrealized losses	(44,064)	(152,359)
Fair Value	7,209,558	5,538,294
Preferred stock
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	4,044	4,869
Gross unrealized gains	0	150
Gross unrealized losses	(48)	(30)
Fair Value	3,996	4,989
Common stock
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	155,967	104,477
Gross unrealized gains	12,067	3,816
Gross unrealized losses	(6,287)	(8,785)
Fair Value	161,747	99,508
U.S. treasury securities
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	292,558	69,547
Gross unrealized gains	3,179	1,470
Gross unrealized losses	(16)	(258)
Fair Value	295,721	70,759
U.S. government agencies
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	7,567	45,586
Gross unrealized gains	112	235
Gross unrealized losses	0	(263)
Fair Value	7,679	45,558
Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	850,475	530,004
Gross unrealized gains	26,974	11,952
Gross unrealized losses	(1,460)	(1,530)
Fair Value	875,989	540,426
Foreign government
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	134,355	109,645
Gross unrealized gains	8,435	4,912
Gross unrealized losses	(528)	(812)
Fair Value	142,262	113,745
Finance | Corporate bonds:
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	1,511,610	1,358,765
Gross unrealized gains	70,747	38,058
Gross unrealized losses	(12,751)	(34,393)
Fair Value	1,569,606	1,362,430
Industrial | Corporate bonds:
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	2,087,449	1,706,772
Gross unrealized gains	114,255	20,542
Gross unrealized losses	(18,256)	(80,251)
Fair Value	2,183,448	1,647,063
Utilities | Corporate bonds:
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	207,328	157,067
Gross unrealized gains	8,244	1,548
Gross unrealized losses	(1,869)	(9,115)
Fair Value	213,703	149,500
Commercial mortgage backed securities
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	174,224	151,164
Gross unrealized gains	6,143	1,334
Gross unrealized losses	(650)	(1,180)
Fair Value	179,717	151,318
Agency backed | Residential mortgage backed securities:
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	1,028,335	964,059
Gross unrealized gains	32,991	14,912
Gross unrealized losses	(81)	(4,133)
Fair Value	1,061,245	974,838
Non-agency backed | Residential mortgage backed securities:
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	61,910	124,046
Gross unrealized gains	1,662	322
Gross unrealized losses	(377)	(4,139)
Fair Value	63,195	120,229
Collateralized loan / debt obligations
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	419,597	232,245
Gross unrealized gains	7,694	10
Gross unrealized losses	(1,622)	(6,161)
Fair Value	425,669	226,094
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	24,886	33,142
Gross unrealized gains	814	4
Gross unrealized losses	(119)	(1,309)
Fair Value	$ 25,581	$ 31,837

Investments - Summary of Availa

Investments - Summary of Available for Sale Fixed Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Amortized Cost
Total fixed maturities	$ 6,800,294	$ 5,482,042
Fair Value
Total fixed maturities	7,043,815	5,433,797
Fixed maturities, available-for-sale
Amortized Cost
Due in one year or less	257,764	125,563
Due after one through five years	1,487,745	913,365
Due after five through ten years	2,947,206	2,586,061
Due after ten years	398,638	352,397
Mortgage and asset backed securities	1,708,941	1,504,656
Total fixed maturities	6,800,294	5,482,042
Fair Value
Due in one year or less	258,760	124,763
Due after one through five years	1,523,695	909,634
Due after five through ten years	3,091,368	2,537,734
Due after ten years	414,597	357,288
Mortgage and asset backed securities	1,755,395	1,504,378
Total fixed maturities	$ 7,043,815	$ 5,433,797

Investments (OTTI) (Details)

Investments (OTTI) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Other-than-temporary impairment charges	$ 9,461	$ 7,636	$ 26,417	$ 10,118
Fixed maturities, available-for-sale
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Other-than-temporary impairment charges	0	7,552	0	8,842
Equity securities, available-for-sale
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Other-than-temporary impairment charges	3,021	84	19,977	1,276
Other investments
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Other-than-temporary impairment charges	$ 6,440	$ 0	$ 6,440	$ 0

Investments - Summary of Gross

Investments - Summary of Gross Unrealized Losses of Fixed-maturities and Equity Securities (Details) $ in Thousands	Sep. 30, 2016USD ($)Contract	Dec. 31, 2015USD ($)Contract
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	$ 750,148	$ 2,492,426
Unrealized Losses	$ (35,878)	$ (130,434)
No. of Positions Held | Contract	594	1,847
Fair Market Value	$ 236,583	$ 217,876
Unrealized Losses	$ (8,188)	$ (21,925)
No. of Positions Held | Contract	225	164
Fair Market Value	$ 986,731	$ 2,710,302
Unrealized Losses	(44,066)	(152,359)
Common and preferred stock
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	49,144	59,302
Unrealized Losses	$ (6,039)	$ (8,711)
No. of Positions Held | Contract	100	67
Fair Market Value	$ 1,279	$ 402
Unrealized Losses	$ (297)	$ (104)
No. of Positions Held | Contract	24	2
Fair Market Value	$ 50,423	$ 59,704
Unrealized Losses	(6,336)	(8,815)
U.S. treasury securities
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	26,829	31,658
Unrealized Losses	$ (15)	$ (232)
No. of Positions Held | Contract	19	77
Fair Market Value	$ 649	$ 2,586
Unrealized Losses	$ (1)	$ (26)
No. of Positions Held | Contract	1	8
Fair Market Value	$ 27,478	$ 34,244
Unrealized Losses	(16)	(258)
U.S. government agencies
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	178	22,412
Unrealized Losses	$ 0	$ (262)
No. of Positions Held | Contract	2	20
Fair Market Value	$ 0	$ 182
Unrealized Losses	$ 0	$ (1)
No. of Positions Held | Contract	0	2
Fair Market Value	$ 178	$ 22,594
Unrealized Losses	0	(263)
Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	103,790	121,550
Unrealized Losses	$ (895)	$ (867)
No. of Positions Held | Contract	98	111
Fair Market Value	$ 12,175	$ 17,163
Unrealized Losses	$ (565)	$ (663)
No. of Positions Held | Contract	24	30
Fair Market Value	$ 115,965	$ 138,713
Unrealized Losses	(1,460)	(1,530)
Foreign government
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	10,311	18,598
Unrealized Losses	$ (528)	$ (688)
No. of Positions Held | Contract	12	27
Fair Market Value	$ 0	$ 5,977
Unrealized Losses	$ 0	$ (124)
No. of Positions Held | Contract	0	1
Fair Market Value	$ 10,311	$ 24,575
Unrealized Losses	(528)	(812)
Finance | Corporate bonds:
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	203,687	604,898
Unrealized Losses	$ (11,638)	$ (33,068)
No. of Positions Held | Contract	121	349
Fair Market Value	$ 50,990	$ 59,020
Unrealized Losses	$ (1,113)	$ (1,325)
No. of Positions Held | Contract	27	22
Fair Market Value	$ 254,677	$ 663,918
Unrealized Losses	(12,751)	(34,393)
Industrial | Corporate bonds:
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	237,197	858,632
Unrealized Losses	$ (14,607)	$ (65,887)
No. of Positions Held | Contract	126	633
Fair Market Value	$ 87,030	$ 82,495
Unrealized Losses	$ (3,647)	$ (14,364)
No. of Positions Held | Contract	54	55
Fair Market Value	$ 324,227	$ 941,127
Unrealized Losses	(18,254)	(80,251)
Utilities | Corporate bonds:
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	22,028	79,358
Unrealized Losses	$ (1,116)	$ (5,305)
No. of Positions Held | Contract	21	113
Fair Market Value	$ 8,922	$ 7,712
Unrealized Losses	$ (754)	$ (3,810)
No. of Positions Held | Contract	4	5
Fair Market Value	$ 30,950	$ 87,070
Unrealized Losses	(1,870)	(9,115)
Commercial mortgage backed securities
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	13,077	35,405
Unrealized Losses	$ (216)	$ (1,079)
No. of Positions Held | Contract	12	100
Fair Market Value	$ 12,202	$ 2,870
Unrealized Losses	$ (435)	$ (101)
No. of Positions Held | Contract	38	6
Fair Market Value	$ 25,279	$ 38,275
Unrealized Losses	(651)	(1,180)
Agency backed
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value		334,224
Unrealized Losses		$ (2,788)
No. of Positions Held | Contract		163
Fair Market Value		$ 35,446
Unrealized Losses		$ (1,345)
No. of Positions Held | Contract		29
Fair Market Value		$ 369,670
Unrealized Losses		(4,133)
Agency backed | Residential mortgage backed securities:
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	9,265
Unrealized Losses	$ (59)
No. of Positions Held | Contract	27
Fair Market Value	$ 2,414
Unrealized Losses	$ (22)
No. of Positions Held | Contract	22
Fair Market Value	$ 11,679
Unrealized Losses	(81)
Non-agency backed
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value		95,001
Unrealized Losses		$ (4,077)
No. of Positions Held | Contract		39
Fair Market Value		$ 4,023
Unrealized Losses		$ (62)
No. of Positions Held | Contract		4
Fair Market Value		$ 99,024
Unrealized Losses		(4,139)
Non-agency backed | Residential mortgage backed securities:
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	17,544
Unrealized Losses	$ (376)
No. of Positions Held | Contract	18
Fair Market Value	$ 63
Unrealized Losses	$ (2)
No. of Positions Held | Contract	2
Fair Market Value	$ 17,607
Unrealized Losses	(378)
Collateralized loan / debt obligations
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	47,636	201,086
Unrealized Losses	$ (273)	$ (6,161)
No. of Positions Held | Contract	19	78
Fair Market Value	$ 60,349	$ 0
Unrealized Losses	$ (1,349)	$ 0
No. of Positions Held | Contract	23	0
Fair Market Value	$ 107,985	$ 201,086
Unrealized Losses	(1,622)	(6,161)
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	9,462	30,302
Unrealized Losses	$ (116)	$ (1,309)
No. of Positions Held | Contract	19	70
Fair Market Value	$ 510	$ 0
Unrealized Losses	$ (3)	$ 0
No. of Positions Held | Contract	6	0
Fair Market Value	$ 9,972	$ 30,302
Unrealized Losses	$ (119)	$ (1,309)

Investments (Trading Securities

Investments (Trading Securities) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading securities, cost basis	$ 34,041		$ 34,041		$ 26,937
Market value	34,439		34,439		27,271
Proceeds from sale of trading securities	47,177	$ 53,398	155,502	$ 161,723
Common stock
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading securities, cost basis	34,091		34,091		26,937
Gross unrealized gains	788		788		739
Gross unrealized losses	(440)		(440)		(405)
Market value	$ 34,439		$ 34,439		$ 27,271

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	$ 60,547	$ 40,839	$ 160,931	$ 112,489
Investment expenses	(628)	(414)	(852)	(1,208)
Net investment income	59,919	40,425	160,079	111,281
Fixed maturities, available-for-sale
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	59,712	39,452	152,140	107,404
Equity securities, available-for-sale
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	465	1,183	6,927	2,253
Equity securities, trading
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	(40)	(640)	(318)	(600)
Cash and short term investments
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	$ 410	$ 844	$ 2,182	$ 3,432

Investments (Realized Gains and

Investments (Realized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Schedule of Available-for-sale Securities [Line Items]
Gross Gains	$ 24,434	$ 33,745	$ 78,180	$ 63,210
Net Gains (Losses)	14,380	16,049	53,106	29,306
Write-down of fixed maturities, available-for-sale	(9,461)	(7,636)	(26,417)	(10,118)
Total of gross loss including write-downs	(16,204)	(16,063)	(46,876)	(32,517)
Net gain and losses, including write-down	8,230	17,682	31,304	30,693
Fixed maturities, available-for-sale
Schedule of Available-for-sale Securities [Line Items]
Write-down of fixed maturities, available-for-sale	0	(7,552)	0	(8,842)
Equity securities, available-for-sale
Schedule of Available-for-sale Securities [Line Items]
Write-down of fixed maturities, available-for-sale	(3,021)	(84)	(19,977)	(1,276)
Available-for-sale | Fixed maturities, available-for-sale
Schedule of Available-for-sale Securities [Line Items]
Gross Gains	17,535	21,435	57,346	41,979
Gross Losses	(2,582)	(5,060)	(4,199)	(12,902)
Net Gains (Losses)	14,953	16,375	53,147	29,077
Write-down of fixed maturities, available-for-sale	(6,440)	(7,552)	(6,440)	(8,842)
Available-for-sale | Equity securities, available-for-sale
Schedule of Available-for-sale Securities [Line Items]
Gross Gains	553	0	1,821	2,184
Gross Losses	(1,126)	(326)	(1,862)	(1,955)
Net Gains (Losses)	(573)	(326)	(41)	229
Write-down of fixed maturities, available-for-sale	(3,021)	(84)	(19,977)	(1,276)
Equity securities, trading | Equity securities, available-for-sale
Schedule of Available-for-sale Securities [Line Items]
Gross Gains	2,897	12,310	17,824	19,047
Gross Losses	(1,902)	(3,041)	(14,396)	(7,542)
Net Gains (Losses)	995	$ 9,269	3,428	$ 11,505
Other investments
Schedule of Available-for-sale Securities [Line Items]
Gross Gains	3,449		1,189
Gross Losses	(1,133)		(2)
Net Gains (Losses)	$ 2,316		$ 1,187

Investments - Notional Amounts

Investments - Notional Amounts of Interest Rate Swaps by Remaining Maturity (Details) - Interest rate swaps $ in Thousands	Sep. 30, 2016USD ($)
Schedule of Available-for-sale Securities [Line Items]
One Year	$ 40,000
Two Through Five Years	7,591
Six Through Ten Years	0
After Ten Years	0
Total	$ 47,591

Investments - Fair Values of Re

Investments - Fair Values of Restricted Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Restricted cash and cash equivalents	$ 557,159	$ 380,699
Restricted investments - fixed maturities at fair value	1,880,536	1,490,547
Total restricted cash, cash equivalents, and investments	$ 2,437,695	$ 1,871,246

Investments - Additional Inform

Investments - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)DerivativeInvestment	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)DerivativeInvestment	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)DerivativeInvestment
Investment [Line Items]
Proceeds from the sale of investments in available-for-sale securities	$ 647,928,000	$ 417,517,000	$ 1,648,193,000	$ 990,087,000
Number of securities account for gross unrealized loss | Investment	819		819		2,011
Percentage of cost in excess of market capitalization	35.00%		35.00%
Market capitalization benchmark	$ 1,000,000		$ 1,000,000
Percentage of loss to amortized cost (in percentage)	25.00%		25.00%
Period of market capitalization (in months)			24 months
AFS, Continuous unrealized loss position, 12 months or longer, aggregate loss	$ (8,188,000)		$ (8,188,000)		$ (21,925,000)
AFS, Continuous unrealized loss position, 12 months or longer, aggregate loss, greater or equal to 20% of amortized costs			$ 800,000
Percentage of amortized cost and costs (in percentage)	20.00%		20.00%
Proceeds from sale of trading securities	$ 47,177,000	$ 53,398,000	$ 155,502,000	$ 161,723,000
Number of interest rate swaps | Derivative	2		2		2
Interest rate swaps liability	$ 460,000		$ 460,000		$ 1,077,000
Number of interest rate swaps matured | Derivative	1
Equity securities, available-for-sale
Investment [Line Items]
Securities sold but not yet purchased, at fair value	$ 23,770,000		$ 23,770,000		$ 38,618,000
Secured loan agreements | Lloyds
Investment [Line Items]
Term of the debt instrument (in years)			5 years

Fair Value of Financial Instr50

Fair Value of Financial Instruments - Assets and Financial Liabilities on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	$ 7,665,357	$ 5,944,141
Fair Value of liabilities	88,314	132,558
Equity securities sold but not yet purchased, market
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities		18,163
Equity securities sold but not yet purchased, market | Fixed maturities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities		20,455
Equity securities sold but not yet purchased, market | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	23,770
Life settlement contract profit commission
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	4,817	15,406
Contingent consideration
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	59,267	77,457
Derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	460	1,077
U.S. treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	295,721	70,759
U.S. government agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	7,679	45,558
Municipal bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	875,989	540,426
Foreign government
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	142,262	113,745
Finance | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	1,569,606	1,362,430
Industrial | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	2,183,448	1,647,063
Utilities | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	213,703	149,500
Commercial mortgage backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	179,717	151,318
Agency backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	1,061,245	974,838
Non-agency backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	63,195	120,229
Collateralized loan / debt obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	425,669	226,094
Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	25,581	31,837
Short term investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	49,008	84,266
Other investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	40,267	30,309
Life settlement contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	332,085	264,001
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	490,657	220,859
Fair Value of liabilities	23,770	18,163
Level 1 | Equity securities sold but not yet purchased, market
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities		18,163
Level 1 | Equity securities sold but not yet purchased, market | Fixed maturities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities		0
Level 1 | Equity securities sold but not yet purchased, market | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	23,770
Level 1 | Life settlement contract profit commission
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	0	0
Level 1 | Contingent consideration
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	0	0
Level 1 | Derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	0	0
Level 1 | U.S. treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	295,721	70,759
Level 1 | U.S. government agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 1 | Municipal bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 1 | Foreign government
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 1 | Finance | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 1 | Industrial | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 1 | Utilities | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 1 | Commercial mortgage backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 1 | Agency backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 1 | Non-agency backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 1 | Collateralized loan / debt obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 1 | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 1 | Short term investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	49,008	84,266
Level 1 | Other investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 1 | Life settlement contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	6,739,565	5,391,761
Fair Value of liabilities	460	21,532
Level 2 | Equity securities sold but not yet purchased, market
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities		0
Level 2 | Equity securities sold but not yet purchased, market | Fixed maturities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities		20,455
Level 2 | Equity securities sold but not yet purchased, market | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	0
Level 2 | Life settlement contract profit commission
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	0	0
Level 2 | Contingent consideration
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	0	0
Level 2 | Derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	460	1,077
Level 2 | U.S. treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 2 | U.S. government agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	7,679	45,558
Level 2 | Municipal bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	875,989	540,426
Level 2 | Foreign government
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	142,262	113,745
Level 2 | Finance | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	1,569,606	1,362,430
Level 2 | Industrial | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	2,183,448	1,647,063
Level 2 | Utilities | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	213,703	149,500
Level 2 | Commercial mortgage backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	171,846	151,318
Level 2 | Agency backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	1,061,245	974,838
Level 2 | Non-agency backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	63,195	120,229
Level 2 | Collateralized loan / debt obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	403,936	226,094
Level 2 | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	25,581	31,837
Level 2 | Short term investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 2 | Other investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 2 | Life settlement contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	435,135	331,521
Fair Value of liabilities	64,084	92,863
Level 3 | Equity securities sold but not yet purchased, market
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities		0
Level 3 | Equity securities sold but not yet purchased, market | Fixed maturities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities		0
Level 3 | Equity securities sold but not yet purchased, market | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	0
Level 3 | Life settlement contract profit commission
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	4,817	15,406
Level 3 | Contingent consideration
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	59,267	77,457
Level 3 | Derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	0	0
Level 3 | U.S. treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 3 | U.S. government agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 3 | Municipal bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 3 | Foreign government
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 3 | Finance | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 3 | Industrial | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 3 | Utilities | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 3 | Commercial mortgage backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	7,871	0
Level 3 | Agency backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 3 | Non-agency backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 3 | Collateralized loan / debt obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	21,733	0
Level 3 | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 3 | Short term investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Level 3 | Other investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	40,267	30,309
Level 3 | Life settlement contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	332,085	264,001
Available-for-sale | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	165,743	104,497
Available-for-sale | Level 1 | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	111,489	38,563
Available-for-sale | Level 2 | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	21,075	28,723
Available-for-sale | Level 3 | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	33,179	37,211
Trading | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	34,439	27,271
Trading | Level 1 | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	34,439	27,271
Trading | Level 2 | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	0	0
Trading | Level 3 | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	$ 0	$ 0

Fair Value of Financial Instr51

Fair Value of Financial Instruments - Changes in Fair Value of Level 3 Financial Assets And Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	$ 293,366	$ 228,600	$ 238,658	$ 254,480
Net income	(1,259)	14,325	45,016	53,169
Other comprehensive income	23,083	(5,297)	10,634	95
Purchases and issuances	(646)	563	2,921	(43,030)
Sales and settlements	8,372	1,196	16,880	(25,327)
Net transfers into (out of) Level 3	48,135	13,000	56,942	13,000
Ending Balance	371,051	252,387	371,051	252,387
Other investments
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	38,039	14,759	30,309	13,315
Net income	(6,403)	(793)	(7,889)	(379)
Other comprehensive income	6,124	(5,300)	6,124	(5,300)
Purchases and issuances	249	160	944	1,527
Sales and settlements	(79)	0	(365)	(337)
Net transfers into (out of) Level 3	2,337	13,000	11,144	13,000
Ending Balance	40,267	21,826	40,267	21,826
Equity securities, available-for-sale
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	24,764	40,232	37,211	34,886
Net income	(16,983)	0	(16,983)	0
Other comprehensive income	17,168	3	4,719	5,395
Purchases and issuances	(2)	0	0	0
Sales and settlements	(7,753)	(46)	(7,753)	(92)
Net transfers into (out of) Level 3	15,985	0	15,985
Ending Balance	33,179	40,189	33,179	40,189
Commercial mortgage backed securities
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	0		0
Net income	0		0
Other comprehensive income	(194)		(194)
Purchases and issuances	0		0
Sales and settlements	0		0
Net transfers into (out of) Level 3	8,065		8,065
Ending Balance	7,871		7,871
Collateralized loan / debt obligations
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	0		0
Net income	0		0
Other comprehensive income	(15)		(15)
Purchases and issuances	0		0
Sales and settlements	0		0
Net transfers into (out of) Level 3	21,748		21,748
Ending Balance	21,733		21,733
Life settlement contracts
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	304,434	267,393	264,001	264,517
Net income	23,290	13,875	82,451	52,765
Other comprehensive income	0	0	0	0
Purchases and issuances	4,550	0	15,880	0
Sales and settlements	(189)	(10,019)	(30,247)	(46,033)
Net transfers into (out of) Level 3	0	0	0	0
Ending Balance	332,085	271,249	332,085	271,249
Life settlement contract profit commission
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	(9,054)	(16,994)	(15,406)	(16,534)
Net income	(763)	1,175	(9,817)	715
Other comprehensive income	0	0	0	0
Purchases and issuances	0	0	0	0
Sales and settlements	5,000	0	20,406	0
Net transfers into (out of) Level 3	0	0	0	0
Ending Balance	(4,817)	(15,819)	(4,817)	(15,819)
Contingent consideration
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	(64,817)	(76,790)	(77,457)	(41,704)
Net income	(400)	68	(2,746)	68
Other comprehensive income	0	0	0	0
Purchases and issuances	(5,443)	403	(13,903)	(44,557)
Sales and settlements	11,393	11,261	34,839	21,135
Net transfers into (out of) Level 3	0	0	0	0
Ending Balance	$ (59,267)	$ (65,058)	$ (59,267)	$ (65,058)

Fair Value of Financial Instr52

Fair Value of Financial Instruments - Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net income	$ (1,259)	$ 14,325	$ 45,016	$ 53,169
Gain on investment in life settlement contracts	5,485	4,616	28,891	19,085	$ 19,085
Life settlement contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net income	23,290	13,875	82,451	52,765
Premiums paid	(16,434)	(11,326)	(41,890)	(33,614)
Other Expenses	(608)	892	(1,853)	(781)
Gain on investment in life settlement contracts	5,485	4,616	28,891	19,085
Life settlement contract profit commission
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net income	$ (763)	$ 1,175	$ (9,817)	$ 715

Fair Value of Financial Instr53

Fair Value of Financial Instruments -Fair Value of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
6.125% Senior notes due 2023 (the 2023 Notes)	$ 248,116	$ 247,911
Revolving credit facility	130,000	130,000
7.25% Subordinated Notes due 2055
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Subordinated Debt	145,171	145,078
7.50% Subordinated Notes due 2055
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Subordinated Debt	130,656	130,572
2.75% Convertible senior notes due 2044 (the 2044 Notes)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible Notes Payable	164,828	160,258
Junior subordinated debentures (the 2035-2037 Notes)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Junior subordinated debentures (the 2035-2037 Notes)	122,006	118,226
Trust preferred securities (the 2033-2037 TPS Notes)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Junior subordinated debentures (the 2035-2037 Notes)	92,786	$ 0
Fair Value
Fair Value
Republic promissory note	106,562
Revolving credit facility	130,000
Other	97,068
Fair Value | Junior subordinated debentures (the 2035-2037 Notes)
Fair Value
Junior subordinated debentures	90,310
Fair Value | Trust preferred securities (the 2033-2037 TPS Notes)
Fair Value
Junior subordinated debentures	92,739
Fair Value | Level 1
Fair Value
6.125% Notes due 2023	268,125
Fair Value | Level 1 | 7.25% Subordinated Notes due 2055
Fair Value
7.25% Subordinated Notes due 2055	156,180
Fair Value | Level 1 | 7.50% Subordinated Notes due 2055
Fair Value
7.25% Subordinated Notes due 2055	146,826
Fair Value | Level 1 | 2.75% Convertible senior notes due 2044 (the 2044 Notes)
Fair Value
2.75% Convertible senior notes due 2044	202,984
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Republic promissory note	104,685
Fair Value
Other Long-term Debt	$ 97,068

Fair Value of Financial Instr54

Fair Value of Financial Instruments - Fair Value of Portfolio of Life Insurance Policies (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Life Settlement Contracts, Fair Value Method [Abstract]
Average age of insured (in years)	82 years 8 months	82 years 1 day
Average life expectancy, months (in months)	107 months	114 months
Average face amount per policy	$ 6,569	$ 6,564
Implicit discount rate (in percentage)	12.70%	13.70%

Fair Value of Financial Instr55

Fair Value of Financial Instruments - Increase or (Decrease) in Carrying Value of Investment in Life Insurance Policies (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Life Settlement Contracts, Fair Value Method [Abstract]
Life expectancy Plus 4 Months	$ (42,844)	$ (37,697)
Life expectancy Minus 4 Months	46,044	40,997
Discount Plus 1%	(28,584)	(26,558)
Discount Minus 1%	$ 31,712	$ 29,644

Fair Value of Financial Instr56

Fair Value of Financial Instruments - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net transfers into (out of) Level 3	$ 48,135	$ 13,000	$ 56,942	$ 13,000
Maximum investment in Limited Partnership and Hedge Funds	0.40%		0.40%
Investment discount rate (in percentage)			7.50%
Discount rate (in percentage)			7.50%
Implicit discount rate (in percentage)			12.70%		13.70%
NGHC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of ownership in NGHC (in percentage)	12.00%		12.00%
7.25% Subordinated Notes due 2055 | Subordinated Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, stated interest rate (in percentage)	7.25%		7.25%
7.50% Subordinated Notes due 2055
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, stated interest rate (in percentage)	7.50%		7.50%
2.75% Convertible senior notes due 2044 (the 2044 Notes) | Convertible Notes Payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, stated interest rate (in percentage)	2.75%		2.75%
6.125% Notes due 2023 | Promissory Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, stated interest rate (in percentage)	6.125%		6.125%
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Implicit discount rate (in percentage)			12.50%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Implicit discount rate (in percentage)			17.50%
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investment in NGHC	$ 153,040		$ 153,040
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investment in NGHC	273,450		273,450
Other investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net transfers into (out of) Level 3	$ 2,337	$ 13,000	$ 11,144	$ 13,000
Discounted Cash Flow Technique | Level 3 | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment discount rate (in percentage)			8.00%
Discounted Cash Flow Technique | Level 3 | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment discount rate (in percentage)			14.00%

Investment in Life Settlement57

Investment in Life Settlements - Additional Information (Detail)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)Entity	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Entity	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Schedule of Cost-method Investments [Line Items]
Profits and losses of investment in life insurance policies and premium finance loans (in percentage)			56.00%
Gain on investment in life settlement contracts net of profit commission	$ 5,485,000	$ 4,616,000	$ 28,891,000	$ 19,085,000	$ 19,085,000
NGHC
Schedule of Cost-method Investments [Line Items]
Percentage of ownership (in percentage)	12.00%		12.00%
LSC Entities
Schedule of Cost-method Investments [Line Items]
Percentage of ownership interest (in percentage)	50.00%		50.00%
Number of entities with ownership interest | Entity	3		3
Life settlement contracts
Schedule of Cost-method Investments [Line Items]
Capital contributions	$ 11,000,000		$ 11,000,000
NGHC | LSC Entities
Schedule of Cost-method Investments [Line Items]
Percentage of ownership interest (in percentage)	50.00%		50.00%

Investment in Life Settlement58

Investment in Life Settlements (Detail) $ in Thousands	Sep. 30, 2016USD ($)Contract	Dec. 31, 2015USD ($)	Dec. 31, 2015Contract	Dec. 31, 2015policy
Number of Life Settlement Contracts
0-1 | Contract	0		0
1-2 | Contract	2		0
2-3 | Contract	7		8
3-4 | Contract	9		8
4-5 | Contract	12		4
Thereafter | Contract	226		235
Total	256		255	255
Fair Value
0-1	$ 0	$ 0
1-2	8,776	0
2-3	37,572	31,261
3-4	35,839	20,117
4-5	36,209	6,760
Thereafter	213,689	205,863
Total	332,085	264,001
Face Value
0-1	0	0
1-2	12,500	0
2-3	61,000	70,500
3-4	64,422	46,500
4-5	99,000	20,000
Thereafter	1,405,313	1,481,313
Total	$ 1,642,235	$ 1,618,313

Investment in Life Settlement59

Investment in Life Settlements - Additional Information (Footnotes) (Detail) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016USD ($)Contract	Dec. 31, 2015USD ($)Contract	Sep. 30, 2016policy	Dec. 31, 2015policy
Investments, All Other Investments [Abstract]
Life settlement contracts, number of contracts with fair value	224			213
Total number of Life Settlement Contracts	256	255		255
Number of policies with a negative value from discounted cash flow model as of period end	32		32	42
Premiums paid for the preceding twelve month period for period ended	$ 4,941	$ 4,971
Death benefit received	$ 0	$ 0

Investment in Life Settlement60

Investment in Life Settlements - Premiums to be Paid (Detail) - Premiums Due On Life Settlement Contracts $ in Thousands	Sep. 30, 2016USD ($)
Life Insurance Premiums and Related Investment Income [Line Items]
2,016	$ 66,685
2,017	46,386
2,018	47,392
2,019	44,589
2,020	40,979
Thereafter	469,780
Total	$ 715,811

Deferred Policy Acquisitions 61

Deferred Policy Acquisitions Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning balance	$ 873,641	$ 695,150	$ 704,243	$ 628,383
Acquisition costs deferred	289,790	190,632	820,154	582,091
Amortization	(198,789)	(171,556)	(559,755)	(496,248)
Ending balance	$ 964,642	$ 714,226	$ 964,642	$ 714,226

Debt - Borrowings (Detail)

Debt - Borrowings (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Revolving credit facility	$ 130,000	$ 130,000
6.125% Senior notes due 2023 (the 2023 Notes)	248,116	247,911
Secured loan agreements	77,971	38,455
Promissory notes	118,592	13,753
Total debt	1,235,316	989,356
5.5% Convertible senior notes due 2021 (the 2021 Notes)
Debt Instrument [Line Items]
Convertible senior notes	5,190	5,103
2.75% Convertible senior notes due 2044 (the 2044 Notes)
Debt Instrument [Line Items]
Convertible senior notes	164,828	160,258
Junior subordinated debentures (the 2035-2037 Notes)
Debt Instrument [Line Items]
Junior subordinated debentures (the 2035-2037 Notes)	122,006	118,226
Trust preferred securities (the 2033-2037 TPS Notes)
Debt Instrument [Line Items]
Junior subordinated debentures (the 2035-2037 Notes)	92,786	0
7.25% Subordinated Notes due 2055
Debt Instrument [Line Items]
Subordinate Notes due 2055	145,171	145,078
7.50% Subordinated Notes due 2055
Debt Instrument [Line Items]
Subordinate Notes due 2055	$ 130,656	$ 130,572

Debt - Aggregate Scheduled Matu

Debt - Aggregate Scheduled Maturities of Borrowings (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
2,016	$ 1,814
2,017	33,766
2,018	36,056
2,019	160,939
2,020	26,685
Thereafter	992,308
Total scheduled payments	1,251,568
Unamortized deferred origination costs	(16,252)
Total debt	$ 1,235,316	$ 989,356

Debt - Aggregate Scheduled Ma64

Debt - Aggregate Scheduled Maturities of Borrowings (Footnotes) (Detail) $ in Thousands	Sep. 30, 2016USD ($)
Convertible Notes Payable | 5.5% Convertible senior notes due 2021 (the 2021 Notes)
Debt Instrument [Line Items]
Unamortized OID	$ (764)
Senior Notes | 2.75% Convertible senior notes due 2044 (the 2044 Notes)
Debt Instrument [Line Items]
Unamortized OID	$ (47,440)

Debt - Credit Facilities (Detai

Debt - Credit Facilities (Details) - Line of Credit	Sep. 30, 2016USD ($)
Revolving credit facility
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	$ 175,000,000
Letters of credit, outstanding amount	114,156,000
Credit agreement, remaining borrowing capacity	60,844,000
Other Letters of Credit
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	1,550,000
Letters of credit, outstanding amount	1,550,000
Credit agreement, remaining borrowing capacity	0
Lloyds | Letter of Credit
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	389,280,000
Letters of credit, outstanding amount	380,494,000
Credit agreement, remaining borrowing capacity	8,786,000
ING Bank N.V. and Deutsche Bank Netherlands N.V. | Letter of Credit
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	88,404,000
Letters of credit, outstanding amount	63,217,000
Credit agreement, remaining borrowing capacity	25,187,000
Comerica Bank | Letter of Credit
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	75,000,000
Letters of credit, outstanding amount	48,134,000
Credit agreement, remaining borrowing capacity	$ 26,866,000

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Debt Instrument [Line Items]
Interest expense (net of interest income)	$ 23,950	$ 12,862	$ 61,388	$ 32,763
Convertible Notes Payable
Debt Instrument [Line Items]
Interest expense (net of interest income)	3,170	3,065	9,402	9,096
Convertible Notes Payable | 5.5% Convertible senior notes due 2021 (the 2021 Notes)
Debt Instrument [Line Items]
Interest expense (net of interest income)	116	117	345	711
Senior Notes | 6.125% Notes due 2023
Debt Instrument [Line Items]
Interest expense (net of interest income)	3,897	3,897	11,690	11,690
Convertible Debt
Debt Instrument [Line Items]
Interest expense (net of interest income)	1,548	1,442	4,609	5,157
Junior Subordinated Debt | Trust Preferred Securities
Debt Instrument [Line Items]
Interest expense (net of interest income)	981	0	1,750	0
Subordinated Debt | 7.25% Subordinated Notes due 2055
Debt Instrument [Line Items]
Interest expense (net of interest income)	2,750	2,750	8,250	3,118
Subordinated Debt | 7.50% Subordinated Notes due 2055
Debt Instrument [Line Items]
Interest expense (net of interest income)	2,559	408	7,677	408
Secured loan agreements
Debt Instrument [Line Items]
Interest expense (net of interest income)	756	212	1,768	671
Promissory notes
Debt Instrument [Line Items]
Interest expense (net of interest income)	1,698	157	3,253	467
Other
Debt Instrument [Line Items]
Interest expense (net of interest income)	4,276	(917)	5,869	(3,511)
Revolving credit facility | Line of Credit
Debt Instrument [Line Items]
Interest expense (net of interest income)	1,134	1,092	3,388	2,636
Lloyds | Letter of Credit | Line of Credit
Debt Instrument [Line Items]
Interest expense (net of interest income)	$ 1,065	$ 639	$ 3,387	$ 2,320

Debt - Promissory Note (Details

Debt - Promissory Note (Details) - Delek Finance US Inc. - Promissory notes - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Apr. 18, 2016
Debt Instrument [Line Items]
Debt instrument, face amount			$ 104,685,000
Debt instrument, stated interest rate (in percentage)			5.75%
Interest expense	$ 1,538,000	$ 2,776,000

Debt - Trusted Preferred Securi

Debt - Trusted Preferred Securities (Details)	9 Months Ended
	Sep. 30, 2016USD ($)trust
Debt Instrument [Line Items]
Number of trust preferred securities | trust	5
Junior Subordinated Debt | Three Month London Interbank Offered Rate
Debt Instrument [Line Items]
Variable rate (in percentage)	3.20%
Junior Subordinated Debt | RIG Capital Trust I
Debt Instrument [Line Items]
Aggregate Principal Amount of Notes	$ 10,310,000
Per Annum Interest Rate of Notes (in percentage)	4.60%
Junior Subordinated Debt | RIG Capital Trust I | Three Month London Interbank Offered Rate
Debt Instrument [Line Items]
Variable rate (in percentage)	4.00%
Junior Subordinated Debt | RIG Capital Statutory Trust II
Debt Instrument [Line Items]
Aggregate Principal Amount of Notes	$ 20,619,000
Per Annum Interest Rate of Notes (in percentage)	4.40%
Junior Subordinated Debt | RIG Capital Statutory Trust II | Three Month London Interbank Offered Rate
Debt Instrument [Line Items]
Variable rate (in percentage)	3.85%
Junior Subordinated Debt | RIG Capital Trust III
Debt Instrument [Line Items]
Aggregate Principal Amount of Notes	$ 20,619,000
Per Annum Interest Rate of Notes (in percentage)	3.90%
Junior Subordinated Debt | RIG Capital Trust IV
Debt Instrument [Line Items]
Aggregate Principal Amount of Notes	$ 25,774,000
Per Annum Interest Rate of Notes (in percentage)	3.90%
Junior Subordinated Debt | RIG Capital Trust V
Debt Instrument [Line Items]
Aggregate Principal Amount of Notes	$ 15,464,000
Per Annum Interest Rate of Notes (in percentage)	4.00%
Junior Subordinated Debt | RIG Capital Trust V | Three Month London Interbank Offered Rate
Debt Instrument [Line Items]
Variable rate (in percentage)	3.30%
Junior Subordinated Debt | Trust Preferred Securities
Debt Instrument [Line Items]
Trust common securities	$ 2,786,000
Aggregate Principal Amount of Notes	92,786,000
Preferred stock | Junior Subordinated Debt | RIG Capital Trust I
Debt Instrument [Line Items]
Aggregate Liquidation Amount of Trust Securities	10,000,000
Preferred stock | Junior Subordinated Debt | RIG Capital Statutory Trust II
Debt Instrument [Line Items]
Aggregate Liquidation Amount of Trust Securities	20,000,000
Preferred stock | Junior Subordinated Debt | RIG Capital Trust III
Debt Instrument [Line Items]
Aggregate Liquidation Amount of Trust Securities	20,000,000
Preferred stock | Junior Subordinated Debt | RIG Capital Trust IV
Debt Instrument [Line Items]
Aggregate Liquidation Amount of Trust Securities	25,000,000
Preferred stock | Junior Subordinated Debt | RIG Capital Trust V
Debt Instrument [Line Items]
Aggregate Liquidation Amount of Trust Securities	15,000,000
Preferred stock | Junior Subordinated Debt | Trust Preferred Securities
Debt Instrument [Line Items]
Aggregate Liquidation Amount of Trust Securities	90,000,000
Common stock | Junior Subordinated Debt | RIG Capital Trust I
Debt Instrument [Line Items]
Aggregate Liquidation Amount of Trust Securities	310,000
Common stock | Junior Subordinated Debt | RIG Capital Statutory Trust II
Debt Instrument [Line Items]
Aggregate Liquidation Amount of Trust Securities	619,000
Common stock | Junior Subordinated Debt | RIG Capital Trust III
Debt Instrument [Line Items]
Aggregate Liquidation Amount of Trust Securities	619,000
Common stock | Junior Subordinated Debt | RIG Capital Trust IV
Debt Instrument [Line Items]
Aggregate Liquidation Amount of Trust Securities	774,000
Common stock | Junior Subordinated Debt | RIG Capital Trust V
Debt Instrument [Line Items]
Aggregate Liquidation Amount of Trust Securities	464,000
Common stock | Junior Subordinated Debt | Trust Preferred Securities
Debt Instrument [Line Items]
Aggregate Liquidation Amount of Trust Securities	$ 2,786,000

Debt - Secured Loan Agreement (

Debt - Secured Loan Agreement (Details) - Secured loan agreements	Apr. 07, 2016USD ($)	Apr. 06, 2016GBP (£)	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Apr. 06, 2016USD ($)	Apr. 06, 2016GBP (£)
Citigroup Global Markets Realty Corp
Debt Instrument [Line Items]
Term of the debt instrument (in years)	10 years
Debt instrument, face amount	$ 29,000,000
Debt instrument, stated interest rate (in percentage)	4.96%
Monthly payment	$ 169,000
Interest expense			$ 373,000	$ 736,000
Lloyds
Debt Instrument [Line Items]
Term of the debt instrument (in years)				5 years
Debt instrument, face amount					$ 11,028,000	£ 7,800,000
Debt instrument, stated interest rate (in percentage)					2.83%	2.83%
Monthly payment | £		£ 30,000
Interest expense			$ 73,000	$ 159,000
Deferred finance costs					$ 114,000	£ 78,000
Percentage of fair value of property (in percentage)					70.00%	70.00%

Debt - Nationale Borg (Details)

Debt - Nationale Borg (Details) £ in Thousands, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2016GBP (£)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Revolving credit facility	$ 130,000	$ 130,000		$ 130,000
N.V. Nationale Borg-Maatschappij and Affiliates | Line of Credit
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	88,404	88,404	£ 76,650
Revolving credit facility	63,217	63,217	£ 56,228
Interest expense	$ 257	$ 354

Acquisition Costs and Other U71

Acquisition Costs and Other Underwriting Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Disclosure Summary Of Components Of Acquisition Costs And Other Underwriting Expenses [Abstract]
Policy acquisition expenses	$ 116,434	$ 131,083	$ 365,804	$ 336,977
Salaries and benefits	140,300	112,769	424,834	355,927
Other insurance general and administrative expenses	27,224	14,164	56,757	35,498
Acquisition costs and other underwriting expenses	$ 283,958	$ 258,016	$ 847,395	$ 728,402

Earnings Per Share - Summary of

Earnings Per Share - Summary of Elements Used in Calculating Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Basic earnings per share:
Net income attributable to AmTrust common stockholders	$ 103,550	$ 182,708	$ 338,598	$ 408,152
Less: Net income allocated to participating securities and redeemable non-controlling interest	0	469	0	1,072
Net income allocated to AmTrust common shareholders	$ 103,550	$ 182,239	$ 338,598	$ 407,080
Weighted average common shares outstanding - basic (in shares)	170,928	165,608	173,173	164,470
Less: Weighted average participating shares outstanding (in shares)	0	426	0	432
Weighted average common shares outstanding - basic (in shares)	170,928	165,182	173,173	164,038
Net income per AmTrust Financial Services, Inc. common share - basic (usd per share)	$ 0.61	$ 1.10	$ 1.96	$ 2.48
Diluted earnings per share:
Net income allocated to AmTrust Financial Services, Inc. common shareholders	$ 103,550	$ 182,708	$ 338,598	$ 408,152
Less: Net income allocated to participating securities and redeemable non-controlling interest	0	469	0	1,072
Net income allocated to AmTrust common shareholders	$ 103,550	$ 182,239	$ 338,598	$ 407,080
Weighted average common shares outstanding - basic (in shares)	170,928	165,182	173,173	164,038
Plus: Dilutive effect of stock options, convertible debt, other (in shares)	2,193	3,090	1,978	3,454
Weighted average common shares outstanding - dilutive (in shares)	173,121	168,272	175,151	167,492
Net income per AmTrust Financial Services, Inc. common shares - diluted (usd per share)	$ 0.60	$ 1.09	$ 1.93	$ 2.43

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail)	Feb. 02, 2016
Earnings Per Share [Abstract]
Stock split, conversion ratio	2

Share Based Compensation - Addi

Share Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Feb. 02, 2016	Dec. 15, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation			$ 5,891	$ 6,242	$ 17,433	$ 16,678
Stock split, conversion ratio	2
Stock dividend paid (in percentage)		100.00%
Adjustment to common stock outstanding due to stock split (in percentage)	100.00%
Decrease in exercise price due to stock split (in percentage)	50.00%
Stock options, expiration term (in years)					10 years
Share based award, vesting period (in years)					4 years
Exercise period of vested option after employment relationship end (in months)					3 months
Weighted average grant date fair value of options granted (usd per share)						$ 10.93
Intrinsic value of the stock option exercised					$ 8,794	$ 24,000
Intrinsic value of stock options			45,889		45,889		$ 66,300
Intrinsic value of the stock option exercisable			$ 45,510	$ 64,705	45,510	64,705
Proceeds from stock options exercised					1,558	4,582
Excess tax benefit from award exercised					$ 3,081	$ 7,561
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for stock award, maximum (in shares)								14,630,136
Common stock remained available for grants (in shares)			7,100,000		7,100,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost			$ 47,774		$ 47,774		$ 39,111
Restricted Stock Units (RSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based award, vesting period (in years)					1 year
Restricted Stock Units (RSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based award, vesting period (in years)					4 years

Share Based Compensation - Sche

Share Based Compensation - Schedule of Option Granted, Exercised and Expired (Detail) - $ / shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Shares
Outstanding at beginning of period (shares)	2,783,880	3,868,740
Granted (shares)	0	85,000
Exercised (shares)	(411,913)	(1,018,950)
Canceled or terminated (shares)	(13,872)	(75,148)
Outstanding end of period (shares)	2,358,095	2,859,642
Weighted Average Exercise Price
Outstanding at beginning of period (usd per share)	$ 6.99	$ 5.80
Granted (usd per share)	0	27.09
Exercised (usd per share)	3.96	4.65
Canceled or terminated (usd per share)	24.69	9.17
Outstanding end of period (usd per share)	$ 7.41	$ 6.75

Share Based Compensation (Weigh

Share Based Compensation (Weighted average assumptions) (Details)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Volatility (percentage)	40.95%
Risk-free interest rate (percentage)	1.95%
Weighted average expected lives in years (in years)	6 years 3 months
Dividend rate (percentage)	1.85%
Forfeiture rate (percentage)	0.50%

Share Based Compensation - Summ

Share Based Compensation - Summary of RSU and PSU (Detail) - $ / shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Restricted Stock and Restricted Stock Unit
Shares or Units
Non-vested at beginning of period (shares)	1,853,516	2,611,022
Granted (shares)	873,388	465,400
Vested (shares)	(816,538)	(838,918)
Forfeited (shares)	(49,951)	(33,648)
Non-vested at end of period (shares)	1,860,415	2,203,856
Weighted-Average Grant Date Fair Value
Non-vested at beginning of period (usd per share)	$ 20.54	$ 16.70
Granted (usd per share)	26.03	29.19
Vested (usd per share)	17.50	14.53
Forfeited (usd per share)	24.17	20.95
Non-vested at end of period (usd per share)	$ 24.35	$ 20.10
Performance Share Units
Shares or Units
Non-vested at beginning of period (shares)	752,466	549,670
Granted (shares)	198,881	373,628
Vested (shares)	(234,358)	(155,842)
Forfeited (shares)	(35,766)	(9,406)
Non-vested at end of period (shares)	681,223	758,050
Weighted-Average Grant Date Fair Value
Non-vested at beginning of period (usd per share)	$ 24.58	$ 19.42
Granted (usd per share)	26.16	29.93
Vested (usd per share)	22.89	18.86
Forfeited (usd per share)	25.57	27.07
Non-vested at end of period (usd per share)	$ 25.57	$ 24.62

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Federal Income Tax Rate to Effective Tax Rate (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income before equity in earnings of unconsolidated subsidiaries	$ 151,663	$ 166,882	$ 461,978	$ 453,476
Tax at federal statutory rate of 35%	53,082	58,409	161,692	158,717
Tax rate differences	7,898	(8,797)	(42,738)	(32,286)
Adjustment to prior year taxes	(402)	(74,385)	(402)	(82,689)
Permanent adjustments	(23,820)	(9,657)	(22,615)	(12,474)
Valuation allowance	(319)	0	(10,255)	0
Other, net	(923)	21,781	5,478	7,367
Provision for income taxes	$ 35,516	$ (12,649)	$ 91,160	$ 38,635
Effective tax rate	23.40%	(7.60%)	19.70%	8.50%

Income Taxes - Reconciliation79

Income Taxes - Reconciliation of Statutory Federal Income Tax Rate to Effective Tax Rate (Footnotes) (Detail)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Federal statutory rate	35.00%	35.00%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Operating Loss Carryforwards [Line Items]
Increase in effective tax rate	23.40%	(7.60%)	19.70%	8.50%
Operating loss carryforwards, limitation on use per year	$ 3,152,000		$ 3,152,000
Operating loss carryforwards, valuation allowance	158,670,000		158,670,000		$ 170,043,000
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 56,468,000		$ 56,468,000
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards					$ 661,410,000

Related Party Transactions (Mai

Related Party Transactions (Maiden) (Details) - USD ($)

Jul. 01, 2016

Apr. 30, 2011

Sep. 30, 2016

Sep. 30, 2015

Dec. 31, 2007

Sep. 30, 2007

Sep. 30, 2016

Sep. 30, 2015

Jun. 30, 2016

Dec. 31, 2015

Dec. 31, 2012

Apr. 01, 2011

Related Party Transaction [Line Items]

Reinsurance recoverable

$ 4,040,073,000

$ 4,040,073,000

$ 3,008,670,000

Brokerage commission

$ 146,611,000

$ 126,143,000

$ 429,082,000

$ 346,766,000

Maiden Reinsurance Company

Related Party Transaction [Line Items]

Percentage of capital stock (in percentage)

7.90%

7.90%

Ceding commission percentage of ceded written premiums (in percentage)

5.00%

Period to notify cancellation of contract (in months)

4 years

Percentage of ceding commission (in percentage)

32.50%

40.00%

Term of reinsurance agreement (in years)

1 year

Reinsurance ceded profit ratio (in percentage)

50.00%

Assets managed under asset management agreement

$ 4,750,000,000

$ 4,750,000,000

Investment management fee

$ 5,122,000

Maiden

Related Party Transaction [Line Items]

Percentage of reinsurance brokerage commissions (in percentage)

1.25%

1.25%

Brokerage commission

$ 6,520,000

5,828,000

$ 19,744,000

18,688,000

Investment management fee

1,780,000

1,518,000

4,455,000

AII

Related Party Transaction [Line Items]

Premiums, percentage assumed to net (in percentage)

40.00%

Percentage of reinsurance related losses assumed (in percentage)

40.00%

Ceding commission percentage of ceded written premiums (in percentage)

31.00%

Extension period of reinsurance agreement term (in years)

3 years

Period to notify cancellation of contract (in months)

9 months

Termination notice period (in days)

30 days

Increase (decrease) in stockholders equity, or more (in percentage)

(50.00%)

Interest rate ( in percentage)

0.90%

Interest expense on collateral loan

$ 599,000

$ 471,000

Chief Executive Officer | Maiden Reinsurance Company

Related Party Transaction [Line Items]

Percentage of capital stock (in percentage)

7.50%

7.50%

Director | Maiden Reinsurance Company

Related Party Transaction [Line Items]

Percentage of capital stock (in percentage)

2.00%

2.00%

Minimum | Maiden Reinsurance Company

Related Party Transaction [Line Items]

Asset management services fee percentage (in percentage)

0.15%

0.15%

Average value of assets under management

$ 1,000,000,000

Minimum | AII

Related Party Transaction [Line Items]

Reinsurance recoverable

$ 5,000,000

Minimum | Maiden | AII

Related Party Transaction [Line Items]

Reinsurance ceded loss ratio (in percentage)

81.50%

Maximum | Maiden Reinsurance Company

Related Party Transaction [Line Items]

Reinsurance ceded loss ratio (in percentage)

65.00%

Asset management services fee percentage (in percentage)

0.20%

0.20%

Average value of assets under management

$ 1,000,000,000

Maximum | Maiden | AII

Related Party Transaction [Line Items]

Reinsurance ceded loss ratio (in percentage)

95.00%

Retail Business | Maiden | AII

Related Party Transaction [Line Items]

Ceding commission percentage of ceded written premiums (in percentage)

34.375%

Maiden Reinsurance Company

Related Party Transaction [Line Items]

Note payable on collateral loan – related party

$ 167,975,000

167,975,000

Maiden Reinsurance Company | AII

Related Party Transaction [Line Items]

Interest expense on collateral loan

1,729,000

$ 1,380,000

Collateral debt issued by maiden insurance

$ 2,966,862,000

$ 2,966,862,000

Related Party Transactions (Res

Related Party Transactions (Results of Operations Related to Reinsurance Agreements) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Related Party Transaction [Line Items]
Change in unearned premium	$ (19,814)	$ (97,575)	$ (252,895)	$ (231,138)
Incurred loss and loss adjustment expense - ceded	811,048	709,604	2,310,514	1,961,362
Maiden
Related Party Transaction [Line Items]
Premium written - ceded	(514,802)	(453,981)	(1,587,757)	(1,504,701)
Change in unearned premium	(1,023)	(13,522)	126,379	204,170
Earned premium - ceded	(515,825)	(467,503)	(1,461,378)	(1,300,531)
Ceding commission on premium written	183,457	144,625	512,995	473,480
Ceding commission – deferred	(25,241)	(6,589)	(72,434)	(87,535)
Ceding commission - earned	158,216	138,036	440,561	385,945
Incurred loss and loss adjustment expense - ceded	$ 334,878	$ 346,123	$ 994,212	$ 932,053

Related Party Transactions (NGH

Related Party Transactions (NGHC) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)Entityshareholder	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Entityshareholder	Sep. 30, 2015USD ($)	Dec. 31, 2015	Aug. 31, 2011
Related Party Transaction [Line Items]
Number of shareholder | shareholder	2		2
Equity in earnings of unconsolidated subsidiaries – related parties	$ 1,954	$ 13,477	$ 12,532	$ 23,048
Service and fee income	$ 146,611	126,143	$ 429,082	346,766
NGHC
Related Party Transaction [Line Items]
Percentage of ownership in NGHC (in percentage)	12.00%		12.00%
Number of reportable entities | Entity	15		15
Equity in earnings of unconsolidated subsidiaries – related parties		13,477		23,048
License fee percentage (in percentage)	1.25%		1.25%
Developmental services (in percentage)	20.00%		20.00%
Technology services fee income	$ 8,735	8,650	$ 29,921	26,019
Assets managed under asset management agreement	3,258,000		3,258,000
Investment management fee	$ 986	720	2,586	1,859
Acquisition price			$ 7,500
Contribution towards payment for guaranties (in percentage)	50.00%		50.00%
Service and fee income			$ 907
Maximum | NGHC
Related Party Transaction [Line Items]
Asset management services fee percentage (in percentage)	0.20%		0.20%
Average value of assets under management			$ 1,000,000
Minimum | NGHC
Related Party Transaction [Line Items]
Asset management services fee percentage (in percentage)	0.15%		0.15%
Average value of assets under management			$ 1,000,000
800 Superior LLC
Related Party Transaction [Line Items]
Percentage of ownership interest (in percentage)	50.00%		50.00%
800 Superior LLC | NGHC
Related Party Transaction [Line Items]
Percentage of ownership interest (in percentage)	50.00%		50.00%
Office lease expenses	$ 696	$ 663	$ 2,063	$ 1,929
4455 LBJ Freeway, LLC | NGHC
Related Party Transaction [Line Items]
Acquisition price			$ 21,050
Percentage of ownership interest (in percentage)	50.00%		50.00%		12.00%
Percentage of profits and losses (in percentage)						56.00%

Related Party Transactions (ACP

Related Party Transactions (ACP Re. Ltd) (Details) - USD ($) $ in Thousands	Sep. 20, 2016	Sep. 15, 2014	Sep. 30, 2014	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 21, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Loss and loss adjustment expense				$ 811,048	$ 709,604	$ 2,310,514	$ 1,961,362
Service and fee income				146,611	126,143	429,082	346,766
Ceded reinsurance premiums payable				932,199		932,199			$ 651,051
Revolving credit facility				130,000		130,000			130,000
Interest income				2,061	2,115	6,436	6,514
ACP Re, Ltd | Tower
Related Party Transaction [Line Items]
Percentage of voting Interests acquired (in percentage)		100.00%
CastlePoint National Insurance Company | CastlePoint National Insurance Company
Related Party Transaction [Line Items]
Contribution to CNIC	$ 200,000
NGHC
Related Party Transaction [Line Items]
Assets managed under asset management agreement				$ 3,258,000		3,258,000
Service and fee income						$ 907
NGHC | Maximum
Related Party Transaction [Line Items]
Asset management services fee percentage (in percentage)				0.20%		0.20%
Average value of assets under management						$ 1,000,000
NGHC | Minimum
Related Party Transaction [Line Items]
Asset management services fee percentage (in percentage)				0.15%		0.15%
Average value of assets under management						$ 1,000,000
NGHC | CP Re | AII | Aggregate Stop Loss Reinsurance Agreement
Related Party Transaction [Line Items]
Aggregate stop loss reinsurance agreement		$ 250,000
NGHC | ACP Re, Ltd | AII | Aggregate Stop Loss Retrocession Contract
Related Party Transaction [Line Items]
Aggregate stop loss reinsurance agreement		$ 125,000
Tower | TIC
Related Party Transaction [Line Items]
Reinsured percentage (in percentage)			100.00%
Gross premium written (in percentage)			2.00%
ANA
Related Party Transaction [Line Items]
Insurance commission (in percentage)		10.00%
Service and fee income						1,386	3,444
ACP Re, Ltd
Related Party Transaction [Line Items]
Assets managed under asset management agreement				$ 540,573		540,573
Management fees				230	457	687	1,281
Loans receivable				127,061		127,061			$ 129,375
Interest income				2,061	2,115	6,436	6,514
ACP Re, Ltd | Commercial Lines Administrative Service Agreement
Related Party Transaction [Line Items]
Service and fee income				$ 3,315	$ 6,033	$ 9,298	$ 29,589
ACP Re, Ltd | AII
Related Party Transaction [Line Items]
Revolving credit facility		$ 125,000						$ 250,000
Debt instrument, stated interest rate (in percentage)								3.70%
Asset to be maintained, percentage of the value (in percentage)								115.00%
Interest rate, paid in kind (in percentage)								1.20%
Long term debt, percentage of outstanding balance (in percentage)								2.00%
Change in ownership, percentage (in percentage)								50.00%
ACP Re, Ltd | AmTrust
Related Party Transaction [Line Items]
Annual fees		30
ACP Re, Ltd | Scenario 1
Related Party Transaction [Line Items]
Asset management services fee percentage (in percentage)				0.20%		0.20%
ACP Re, Ltd | Scenario 2 | Maximum
Related Party Transaction [Line Items]
Average value of assets under management						$ 1,000,000
ACP Re, Ltd | Scenario 3
Related Party Transaction [Line Items]
Asset management services fee percentage (in percentage)				0.15%		0.15%
ACP Re, Ltd | Scenario 3 | Minimum
Related Party Transaction [Line Items]
Average value of assets under management						$ 1,000,000
ACP Re, Ltd | NG Re
Related Party Transaction [Line Items]
Revolving credit facility		$ 125,000
ACP Re, Ltd | NG Re | AII
Related Party Transaction [Line Items]
Debt instrument, stated interest rate (in percentage)		7.00%
Foreign Subsidiaries | ACP Re, Ltd | NG Re | AII
Related Party Transaction [Line Items]
Stock pledged as collateral (in percentage)		65.00%
US Subsidiaries | ACP Re, Ltd | NG Re | AII
Related Party Transaction [Line Items]
Stock pledged as collateral (in percentage)		100.00%

Related Party Transactions - Ad

Related Party Transactions - Additional information (Detail) $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	Aug. 31, 2015USD ($)	Feb. 28, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Related Party Transaction [Line Items]
Ceded reinsurance premiums payable			$ 932,199		$ 932,199		$ 651,051
Lessee Leasing Arrangements, Operating Leases, Term of Contract					10 years
Equity in earnings of unconsolidated subsidiary – related party			$ 1,954	$ 13,477	$ 12,532	$ 23,048
NGHC
Related Party Transaction [Line Items]
Percentage of ownership (in percentage)			12.00%		12.00%
Equity in earnings of unconsolidated subsidiary – related party				13,477		23,048
Aircraft rental and landing fees			$ 85		$ 125
Maiden
Related Party Transaction [Line Items]
Aircraft rental and landing fees			22		61
59 Maiden Lane Associates, LLC
Related Party Transaction [Line Items]
Lease payments			687	527	1,425	1,475
33 West Monroe Associates, LLC
Related Party Transaction [Line Items]
Lease payments					197	466
North Dearborn Building Company, L.P.
Related Party Transaction [Line Items]
Limited partnership interest		$ 9,700
Ownership interest, LP		45.00%
Equity in earnings of unconsolidated subsidiary – related party			207	223	652	542
Illinois Center Building
Related Party Transaction [Line Items]
Lease payments					340
ACP Re, Ltd | Illinois Center Building
Related Party Transaction [Line Items]
Ownership interest, LP	15.00%
Equity in earnings of unconsolidated subsidiary – related party					560
NGHC | North Dearborn Building Company, L.P.
Related Party Transaction [Line Items]
Limited partnership interest		$ 9,700
Ownership interest, LP		45.00%
NGHC | Illinois Center Building
Related Party Transaction [Line Items]
Ownership interest, LP	37.50%
NA Advisors GP LLC | North Dearborn Building Company, L.P.
Related Party Transaction [Line Items]
Limited partnership interest		$ 2,200
NA Advisors GP LLC | Illinois Center Building
Related Party Transaction [Line Items]
Limited partnership interest	$ 53,715
Ownership interest, GP	10.00%
Equity in earnings of unconsolidated subsidiary – related party					1,714
Profit interest, GP	0.10
Chief Operating Officer | Maiden
Related Party Transaction [Line Items]
Aircraft rental and landing fees			283	$ 70	767	$ 404
Variable Interest Entity, Not Primary Beneficiary, Aggregated Disclosure | Other investments
Related Party Transaction [Line Items]
VIE, Carrying amount, assets and liabilities, net			67,077		67,077		64,869
Maximum loss exposure, amount			$ 67,077		$ 67,077		$ 64,869

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) $ / shares in Units, € in Thousands, £ in Thousands

Jul. 15, 2016USD ($)arbitration

Jul. 15, 2016EUR (€)

May 31, 2016USD ($)

May 31, 2016GBP (£)

May 20, 2016USD ($)

May 09, 2016USD ($)

Apr. 18, 2016USD ($)installment

Mar. 11, 2016USD ($)

Jan. 22, 2016USD ($)$ / sharesshares

Oct. 07, 2015USD ($)

Sep. 25, 2015USD ($)agencydealer

Apr. 30, 2016USD ($)

Oct. 31, 2014USD ($)

Oct. 31, 2014EUR (€)

Sep. 30, 2016USD ($)

Sep. 30, 2015USD ($)

Sep. 30, 2016USD ($)

Sep. 30, 2015USD ($)

Jul. 15, 2016EUR (€)arbitration

Dec. 31, 2015USD ($)

Oct. 31, 2014EUR (€)

Business Acquisition [Line Items]

Insurance commission payable, per agreement

$ 106,300,000

€ 95,800

Insurance commissions

46,800,000

€ 42,200

Insurance commission payable

$ 54,100,000

€ 48,700

Number of arbitration | arbitration

2

2

Goodwill

$ 654,861,000

$ 654,861,000

$ 432,700,000

Gross written premium

2,034,098,000

$ 1,780,813,000

6,040,284,000

$ 5,190,338,000

Service and fee income

146,611,000

$ 126,143,000

429,082,000

$ 346,766,000

Share price (in dollars per share) | $ / shares

$ 69

Company recovered (paid)

11,612,000

20,630,000

Trust Risk Group

Business Acquisition [Line Items]

Amount of settlement | €

€ 16,000

Proceeds from receivables

$ 14,000,000

Acquisition price

33,000,000

€ 30,000

Goodwill

332,000

300

Payment towards acquisition

13,000,000

Liabilities incurred for the acquisition

$ 3,000,000

Term of Agreement

3 years

3 years

N.V. Nationale Borg-Maatschappij and Affiliates

Business Acquisition [Line Items]

Acquisition price

$ 179,583,000

£ 161,350

Gross written premium

27,539,000

37,034,000

Goodwill and intangible assets

64,328,000

Accrued liabilities acquired

$ 29,196,000

First Nationwide Title Agency

Business Acquisition [Line Items]

Acquisition price

$ 24,200,000

Contingent consideration, term (in years)

4 years

Service and fee income

7,401,000

Genworth

Business Acquisition [Line Items]

Acquisition price

$ 54,500,000

Gross written premium

6,767,000

11,067,000

Payment towards acquisition

54,500,000

Accrued liabilities acquired

$ 13,060,000

Republic

Business Acquisition [Line Items]

Acquisition price

$ 232,692,000

Gross written premium

181,810,000

334,936,000

Service and fee income

2,076,000

3,620,000

Payment towards acquisition

$ 113,456,000

Number of quarterly payments | installment

19

Periodic payment

$ 800,000

Goodwill and intangible assets

119,106,000

Accrued liabilities acquired

$ 131,092,000

Springfield

Business Acquisition [Line Items]

Gross written premium

2,115,000

6,993,000

Contingent consideration, term (in years)

5 years

Service and fee income

796,000

1,638,000

Payment towards acquisition

$ 26,574,000

Contingent consideration liability

5,000,000

Goodwill and intangible assets

4,253,000

Accrued liabilities acquired

$ 4,199,000

ARI Mutual Insurance Company

Business Acquisition [Line Items]

Acquisition price

$ 3,819,000

Gross written premium

8,747,000

34,357,000

Payment towards acquisition

23,500,000

Subscriptions received

$ 276,000

Shares issued by the company as a part of the agreement | shares

12,347

Price per share, discount (in percentage)

20.00%

Payments to employees

$ 3,750,000

Intangible assets

1,097,000

Accrued liabilities acquired

$ 7,968,000

Warranty Solutions

Business Acquisition [Line Items]

Gross written premium

$ 23,440,000

69,448,000

Service and fee income

22,537,000

67,471,000

Payment towards acquisition

156,247,000

Goodwill and intangible assets

$ 117,504,000

Number of agencies | agency

70

Number of franchised and independent dealers acquired | dealer

1,500

Accrued liabilities acquired

$ 88,422,000

Magna Cater

Business Acquisition [Line Items]

Intangible assets

$ 1,000,000

Reinsured percentage, acquired (in percentage)

100.00%

Acquisition of loss Portfolio (in percentage)

100.00%

Cash acquired from acquisition

$ 163,400,000

Accrued liabilities acquired

$ 163,400,000

Series of Individually Immaterial Business Acquisitions

Business Acquisition [Line Items]

Acquisition price

45,578,000

57,578,000

Promissory Note | Republic

Business Acquisition [Line Items]

Liabilities incurred for the acquisition

104,685,000

Minority Owners of Republic | Promissory Note | Republic

Business Acquisition [Line Items]

Liabilities incurred for the acquisition

$ 15,200,000

Long-term Debt

$ 14,000,000

$ 14,000,000

Noncompete Agreements | Trust Risk Group

Business Acquisition [Line Items]

Intangibles acquired, finite-lived

$ 19,353,000

17,500

Weighted average useful life (years)

3 years

3 years

Renewal Rights | Trust Risk Group

Business Acquisition [Line Items]

Intangibles acquired, finite-lived

$ 13,271,000

€ 12,000

Weighted average useful life (years)

4 years

4 years

Customer Relationships | Warranty Solutions

Business Acquisition [Line Items]

Intangibles acquired, finite-lived

48,300,000

Software | Warranty Solutions

Business Acquisition [Line Items]

Intangibles acquired, finite-lived

400,000

Value of Business Acquired (VOBA) | Warranty Solutions

Business Acquisition [Line Items]

Intangibles acquired, finite-lived

19,639,000

Licensing Agreements | Warranty Solutions

Business Acquisition [Line Items]

Intangible acquired, indefinite-lived

$ 8,500,000

Minimum

Business Acquisition [Line Items]

Weighted average useful life (years)

3 years

Maximum

Business Acquisition [Line Items]

Weighted average useful life (years)

15 years

Acquisitions - Purchase Price A

Acquisitions - Purchase Price Allocation (Details) £ in Thousands, $ in Thousands	May 31, 2016USD ($)	May 31, 2016GBP (£)	May 09, 2016USD ($)	Apr. 18, 2016USD ($)	Jan. 22, 2016USD ($)	Oct. 07, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 25, 2015USD ($)
Business Acquisition [Line Items]
Acquisition gain							$ 0	$ 5,826	$ 48,775	$ 5,826
N.V. Nationale Borg-Maatschappij and Affiliates
Business Acquisition [Line Items]
Cash and investments	$ 229,607
Premium receivables	4,301
Accrued interest and dividends	83
Reinsurance recoverable	4,322
Other assets	8,414
Property and equipment	10,319
Goodwill and intangible assets	64,328
Total assets including goodwill	321,374
Loss and loss expense reserves	87,813
Unearned premiums	24,782
Accrued expenses and other liabilities	29,196
Total liabilities	141,791
Acquisition price	$ 179,583	£ 161,350
Republic
Business Acquisition [Line Items]
Cash and investments				$ 621,068
Premium receivables				85,455
Accrued interest and dividends				4,779
Reinsurance recoverable				629,488
Other assets				223,619
Deferred tax asset				42,745
Property and equipment				1,511
Goodwill and intangible assets				119,106
Total assets				1,727,771
Loss and loss expense reserves				885,898
Unearned premiums				301,972
Trust preferred outstanding				92,786
Accrued expenses and other liabilities				131,092
Funds held under reinsurance treaties				83,331
Total liabilities				1,495,079
Acquisition price				$ 232,692
Genworth
Business Acquisition [Line Items]
Cash and investments			$ 239,695
Reinsurance recoverable			27,570
Other assets			8,422
Property and equipment			964
Total assets			276,651
Loss and loss expense reserves			84,463
Unearned premiums			76,308
Accrued expenses and other liabilities			13,060
Total liabilities			173,831
Acquisition price			54,500
Acquisition gain			$ 48,320
Springfield
Business Acquisition [Line Items]
Cash and investments						$ 93,837
Premium receivables						4,651
Accrued interest and dividends						470
Other assets						2,752
Deferred tax asset						1,905
Property and equipment						1,376
Goodwill and intangible assets						4,253
Total assets including goodwill						109,244
Loss and loss expense reserves						65,725
Unearned premiums						7,006
Accrued expenses and other liabilities						4,199
Reinsurance payable on paid losses						740
Total liabilities						77,670
Acquisition gain						$ 31,574
ARI Mutual Insurance Company
Business Acquisition [Line Items]
Cash and investments					$ 53,917
Premium receivables					15,577
Accrued interest and dividends					375
Reinsurance recoverable					17,554
Other assets					2,116
Intangible assets					1,097
Total assets					90,636
Loss and loss expense reserves					59,723
Unearned premiums					18,672
Accrued expenses and other liabilities					7,968
Total liabilities					86,363
Acquisition price					3,819
Acquisition gain					$ 454
Warranty Solutions
Business Acquisition [Line Items]
Cash and investments											$ 192,015
Premium receivables											77,777
Other assets											16,346
Deferred tax asset											26,481
Goodwill and intangible assets											117,504
Total assets including goodwill											430,123
Loss and loss expense reserves											3,013
Unearned premiums											182,441
Accrued expenses and other liabilities											88,422
Total liabilities											$ 273,876

New Market Tax Credit (Details)

New Market Tax Credit (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2012	Dec. 31, 2012USD ($)loanCDE
Schedule of Tax Credit [Line Items]
Percentage of qualified investment income that can be claimed at tax credit against their federal income taxes		39.00%
NGHC
Schedule of Tax Credit [Line Items]
Ownership percentage		12.00%
800 Superior LLC
Schedule of Tax Credit [Line Items]
Number of CDE | CDE		2
800 Superior LLC | NGHC
Schedule of Tax Credit [Line Items]
Total benefit a company is entitled to receive		49.00%
Parent | 800 Superior LLC
Schedule of Tax Credit [Line Items]
Total benefit a company is entitled to receive	49.00%
State and Local Government of Ohio | 800 Superior LLC
Schedule of Tax Credit [Line Items]
Proceeds from financing transaction		$ 8,000
Number of loans | loan		2
Parent, NGHC, KCDC and State and Local Government of Ohio | 800 Superior LLC
Schedule of Tax Credit [Line Items]
Proceeds from financing transaction		$ 19,400
Key Community Development Corporation | 800 Superior LLC
Schedule of Tax Credit [Line Items]
Total benefit a company is entitled to receive		51.00%
Community Development Entities (CDE) | 800 Superior LLC
Schedule of Tax Credit [Line Items]
Period to recapture		7 years
Promissory Note | State and Local Government of Ohio | 800 Superior LLC
Schedule of Tax Credit [Line Items]
Term of the debt instrument (in years)		15 years
Average rate of interest		2.00%

Shareholder Equity and Accumu89

Shareholder Equity and Accumulated Other Comprehensive Income (Loss) (Common Stock) (Details)	Feb. 02, 2016
Equity [Abstract]
Stock split, conversion ratio	2

Shareholder Equity and Accumu90

Shareholder Equity and Accumulated Other Comprehensive Income (Loss) (Preferred Stock Issuance) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Class of Stock [Line Items]
Net income attributable to redeemable non-controlling interest and non-controlling interest of subsidiaries			$ (2,975)	$ (1,511)	$ (12,809)	$ (6,940)
Preferred stock, par value (usd per share)	$ 0.01		$ 0.01		$ 0.01		$ 0.01
Liquidation preference, per share (usd per share)	$ 25		25		25
Underwriting discount, commissions and expenses, which were recognized as a reduction to additional paid-in capital	$ 9,306	$ 4,680
American Depository Shares
Class of Stock [Line Items]
Shares issued by the company as a part of the agreement	11,500,000	5,750,000
New issues, percentage of preferred share, per share (percentage)		$ 0.025
Proceeds from issuance of equity	$ 278,194	$ 139,070
Noncumulative Preferred Stock
Class of Stock [Line Items]
Dividend rate (percentage)	6.95%	7.75%
Preferred stock, par value (usd per share)	$ 0.01		0.01		0.01
Liquidation preference, per share (usd per share)	$ 1,000		$ 1,000		$ 1,000

Shareholder Equity and Accumu91

Shareholder Equity and Accumulated Other Comprehensive Income (Loss) - Ownership Components of Total Equity (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 3,085,515	$ 2,196,201
Net income			382,763	436,927
Unrealized holding gain (loss)	$ 73,131	$ (16,647)	270,574	(68,968)
Reclassification adjustment	(3,399)	1,839	(17,993)	634
Foreign currency translation			(173,883)	(49,198)
Unrealized gain on interest rate swap	253	107	540	297
Extinguishment of 2021 senior notes, equity component			(1)	(3,764)
Share exercises, compensation and other			10,545	16,459
Common share (purchase) issuance, net			(152,047)	171,672
Common share dividends			(81,167)	(66,121)
Preferred stock dividends	(11,576)	(8,789)	(31,943)	(22,797)
Capital contribution (distribution), net			(5,413)	11,609
Ending Balance	3,704,754	2,799,480	3,704,754	2,799,480
Net income related to redeemable non-controlling interest	2,975	1,511	12,809	6,940
Non-Controlling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			176,455	159,181
Net income			12,222	5,978
Foreign currency translation				6
Common share dividends			0
Capital contribution (distribution), net			(5,413)	11,609
Ending Balance	183,264	176,774	183,264	176,774
Net income related to redeemable non-controlling interest			587	962
AmTrust
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			2,909,060	2,037,020
Net income			370,541	430,949
Unrealized holding gain (loss)			270,574	(68,968)
Reclassification adjustment			(17,993)	634
Foreign currency translation			(173,883)	(49,204)
Unrealized gain on interest rate swap			540	297
Extinguishment of 2021 senior notes, equity component			(1)	(3,764)
Share exercises, compensation and other			10,545	16,459
Common share dividends			(81,167)	(66,121)
Preferred stock dividends			(31,943)	(22,797)
Ending Balance	$ 3,521,490	$ 2,622,706	3,521,490	2,622,706
Preferred stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred stock issuance, net of fees			417,264	176,529
Preferred stock | AmTrust
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred stock issuance, net of fees				176,529
Common stock | AmTrust
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common share (purchase) issuance, net			$ (152,047)	$ 171,672

Shareholder Equity and Accumu92

Shareholder Equity and Accumulated Other Comprehensive Income (Loss) - AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (31,791)	$ (48,545)	$ (130,262)	$ 56,123
Other comprehensive income (loss) before reclassifications	(57,299)	(22,172)	158,709	(181,346)
Amounts reclassed from accumulated other comprehensive loss	(3,399)	2,830	(17,993)	976
Income tax benefit (expense)	41,465	6,769	(61,478)	63,129
Other comprehensive income (loss), net of tax	(19,233)	(12,573)	79,238	(117,241)
Ending balance	(51,024)	(61,118)	(51,024)	(61,118)
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(176,878)	(66,108)	(92,213)	(14,776)
Other comprehensive income (loss) before reclassifications	(89,218)	3,274	(173,883)	(75,698)
Amounts reclassed from accumulated other comprehensive loss	0	0	0	0
Income tax benefit (expense)	0	(1,146)	0	26,494
Other comprehensive income (loss), net of tax	(89,218)	2,128	(173,883)	(49,204)
Ending balance	(266,096)	(63,980)	(266,096)	(63,980)
Unrealized Gains (Losses) on Investments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	145,607	21,487	(37,242)	75,013
Other comprehensive income (loss) before reclassifications	31,529	(25,611)	331,761	(106,105)
Amounts reclassed from accumulated other comprehensive loss	(3,399)	2,830	(17,993)	976
Income tax benefit (expense)	41,602	7,973	(61,187)	36,795
Other comprehensive income (loss), net of tax	69,732	(14,808)	252,581	(68,334)
Ending balance	215,339	6,679	215,339	6,679
Interest Rate Swap Hedge
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(413)	(1,131)	(700)	(1,321)
Other comprehensive income (loss) before reclassifications	390	165	831	457
Amounts reclassed from accumulated other comprehensive loss	0	0	0	0
Income tax benefit (expense)	(137)	(58)	(291)	(160)
Other comprehensive income (loss), net of tax	253	107	540	297
Ending balance	(160)	(1,024)	(160)	(1,024)
Net Benefit Plan Assets and Obligations Recognized in Stockholders' Equity
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(107)	(2,793)	(107)	(2,793)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassed from accumulated other comprehensive loss	0	0	0	0
Income tax benefit (expense)	0	0	0	0
Other comprehensive income (loss), net of tax	0	0	0	0
Ending balance	$ (107)	$ (2,793)	$ (107)	$ (2,793)

Commitment and Contingent Lia93

Commitment and Contingent Liabilities (Narrative) (Details) $ in Thousands	Nov. 07, 2016USD ($)
Subsequent Event | ANV Holdings B.V. And Affiliates
Business Acquisition [Line Items]
Acquisition price	$ 203,000

Segments - Results of Operation

Segments - Results of Operations of Business Segments (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)segment	Sep. 30, 2015USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment			3
Gross written premium	$ 2,034,098	$ 1,780,813	$ 6,040,284	$ 5,190,338
Net written premium	1,216,050	1,142,983	3,705,165	3,194,893
Change in unearned premium	(19,814)	(97,575)	(252,895)	(231,138)
Net earned premium	1,196,236	1,045,408	3,452,270	2,963,755
Loss and loss adjustment expense	(811,048)	(709,604)	(2,310,514)	(1,961,362)
Acquisition costs and other underwriting expenses	(283,958)	(258,016)	(847,395)	(728,402)
Operating Expenses	(1,095,006)	(967,620)	(3,157,909)	(2,689,764)
Underwriting income	101,230	77,788	294,361	273,991
Service and fee income	146,611	126,143	429,082	346,766
Investment income and realized gain	68,149	58,107	191,383	141,974
Other expenses	(137,542)	(116,900)	(398,698)	(313,487)
Interest expense	(23,950)	(13,419)	(61,388)	(38,034)
Foreign currency loss	(8,320)	24,721	(70,428)	17,355
Gain (loss) on life settlement contracts	5,485	4,616	28,891	19,085
Acquisition gain on purchase	0	5,826	48,775	5,826
(Provision) benefit for income taxes	(35,516)	12,649	(91,160)	(38,635)
Equity in earnings of unconsolidated subsidiary – related party	1,954	13,477	12,532	23,048
Net income	118,101	193,008	383,350	437,889
Operating Segments
Segment Reporting Information [Line Items]
Net earned premium	1,196,236	1,045,408	3,452,270	2,963,755
Operating Segments | Small Commercial Business
Segment Reporting Information [Line Items]
Gross written premium	998,071	797,654	3,124,761	2,574,602
Net written premium	457,869	459,290	1,684,035	1,499,922
Change in unearned premium	59,127	34,364	(89,967)	(99,218)
Net earned premium	516,996	493,654	1,594,068	1,400,704
Loss and loss adjustment expense	(344,531)	(320,391)	(1,060,165)	(909,081)
Acquisition costs and other underwriting expenses	(125,412)	(130,792)	(405,854)	(365,184)
Operating Expenses	(469,943)	(451,183)	(1,466,019)	(1,274,265)
Underwriting income	47,053	42,471	128,049	126,439
Service and fee income	26,800	24,793	85,082	76,468
Investment income and realized gain	29,249	24,359	84,296	63,209
Other expenses	(67,621)	(53,047)	(206,256)	(155,502)
Interest expense	(11,883)	(6,038)	(31,757)	(18,866)
Foreign currency loss	0	0	0	0
Gain (loss) on life settlement contracts	2,521	1,926	14,946	9,466
Acquisition gain on purchase	0		455
(Provision) benefit for income taxes	(5,929)	2,880	(14,373)	(8,678)
Equity in earnings of unconsolidated subsidiary – related party	0		0	0
Net income	20,190	43,170	60,442	98,362
Operating Segments | Specialty Risk and Extended Warranty
Segment Reporting Information [Line Items]
Gross written premium	598,977	577,284	1,779,984	1,528,017
Net written premium	448,847	380,600	1,233,741	975,073
Change in unearned premium	(21,526)	(30,218)	(126,695)	(11,592)
Net earned premium	427,321	350,382	1,107,046	963,481
Loss and loss adjustment expense	(293,956)	(253,136)	(736,220)	(647,121)
Acquisition costs and other underwriting expenses	(89,784)	(69,876)	(237,967)	(197,450)
Operating Expenses	(383,740)	(323,012)	(974,187)	(844,571)
Underwriting income	43,581	27,370	132,859	118,910
Service and fee income	95,228	79,064	268,128	208,596
Investment income and realized gain	24,538	21,312	63,214	49,859
Other expenses	(40,503)	(37,471)	(117,491)	(92,289)
Interest expense	(7,053)	(4,333)	(18,090)	(11,197)
Foreign currency loss	(8,320)	24,721	(70,428)	17,355
Gain (loss) on life settlement contracts	1,614	1,584	8,514	5,619
Acquisition gain on purchase	0		48,320
(Provision) benefit for income taxes	(24,810)	7,898	(60,521)	(24,068)
Equity in earnings of unconsolidated subsidiary – related party	0	0	0	0
Net income	84,275	120,145	254,505	272,785
Operating Segments | Specialty Program
Segment Reporting Information [Line Items]
Gross written premium	437,050	405,875	1,135,539	1,087,719
Net written premium	309,334	303,093	787,389	719,898
Change in unearned premium	(57,415)	(101,721)	(36,233)	(120,328)
Net earned premium	251,919	201,372	751,156	599,570
Loss and loss adjustment expense	(172,561)	(136,077)	(514,129)	(405,160)
Acquisition costs and other underwriting expenses	(68,762)	(57,348)	(203,574)	(165,768)
Operating Expenses	(241,323)	(193,425)	(717,703)	(570,928)
Underwriting income	10,596	7,947	33,453	28,642
Service and fee income	106	482	1,623	846
Investment income and realized gain	14,424	12,423	43,935	28,789
Other expenses	(29,418)	(26,382)	(74,951)	(65,696)
Interest expense	(5,014)	(3,048)	(11,541)	(7,971)
Foreign currency loss	0	0	0	0
Gain (loss) on life settlement contracts	1,350	1,106	5,431	4,000
Acquisition gain on purchase	0		0
(Provision) benefit for income taxes	1,418	245	394	923
Equity in earnings of unconsolidated subsidiary – related party	0	0	0	0
Net income	(6,538)	(7,227)	(1,656)	(10,467)
Corporate and Other
Segment Reporting Information [Line Items]
Gross written premium	0	0	0	0
Net written premium	0	0	0	0
Change in unearned premium	0	0	0	0
Net earned premium	0	0	0	0
Loss and loss adjustment expense	0	0	0	0
Acquisition costs and other underwriting expenses	0	0	0	0
Operating Expenses	0	0	0	0
Underwriting income	0	0	0	0
Service and fee income	24,477	21,804	74,249	60,856
Investment income and realized gain	(62)	13	(62)	117
Other expenses	0	0	0	0
Interest expense	0	0	0	0
Foreign currency loss	0	0	0	0
Gain (loss) on life settlement contracts	0	0	0	0
Acquisition gain on purchase	0		0
(Provision) benefit for income taxes	(6,195)	1,626	(16,660)	(6,812)
Equity in earnings of unconsolidated subsidiary – related party	1,954	13,477	12,532	23,048
Net income	20,174	36,920	70,059	77,209
Workers' compensation | Operating Segments
Segment Reporting Information [Line Items]
Net earned premium	498,276	414,553	1,510,630	1,193,267
Workers' compensation | Operating Segments | Small Commercial Business
Segment Reporting Information [Line Items]
Net earned premium	349,030	328,099	1,053,967	942,867
Workers' compensation | Operating Segments | Specialty Risk and Extended Warranty
Segment Reporting Information [Line Items]
Net earned premium	0	0	0	0
Workers' compensation | Operating Segments | Specialty Program
Segment Reporting Information [Line Items]
Net earned premium	149,246	86,454	456,663	250,400
Warranty | Operating Segments
Segment Reporting Information [Line Items]
Net earned premium	180,333	143,202	527,835	439,049
Warranty | Operating Segments | Small Commercial Business
Segment Reporting Information [Line Items]
Net earned premium	0	0	0	0
Warranty | Operating Segments | Specialty Risk and Extended Warranty
Segment Reporting Information [Line Items]
Net earned premium	180,333	143,202	527,835	439,049
Warranty | Operating Segments | Specialty Program
Segment Reporting Information [Line Items]
Net earned premium	0	0	0	0
Other liability | Operating Segments
Segment Reporting Information [Line Items]
Net earned premium	84,793	106,195	247,441	272,288
Other liability | Operating Segments | Small Commercial Business
Segment Reporting Information [Line Items]
Net earned premium	11,292	12,081	16,541	37,025
Other liability | Operating Segments | Specialty Risk and Extended Warranty
Segment Reporting Information [Line Items]
Net earned premium	26,169	36,042	100,187	101,338
Other liability | Operating Segments | Specialty Program
Segment Reporting Information [Line Items]
Net earned premium	47,332	58,072	130,713	133,925
Commercial auto and liability, physical damage | Operating Segments
Segment Reporting Information [Line Items]
Net earned premium	89,033	115,835	369,850	317,098
Commercial auto and liability, physical damage | Operating Segments | Small Commercial Business
Segment Reporting Information [Line Items]
Net earned premium	47,751	89,078	245,647	208,489
Commercial auto and liability, physical damage | Operating Segments | Specialty Risk and Extended Warranty
Segment Reporting Information [Line Items]
Net earned premium	9,164	(413)	26,340	11,741
Commercial auto and liability, physical damage | Operating Segments | Specialty Program
Segment Reporting Information [Line Items]
Net earned premium	32,118	27,170	97,863	96,868
Medical malpractice | Operating Segments
Segment Reporting Information [Line Items]
Net earned premium	0	52,879	106,750	129,333
Medical malpractice | Operating Segments | Small Commercial Business
Segment Reporting Information [Line Items]
Net earned premium	0	0	0	0
Medical malpractice | Operating Segments | Specialty Risk and Extended Warranty
Segment Reporting Information [Line Items]
Net earned premium	0	52,879	106,750	129,333
Medical malpractice | Operating Segments | Specialty Program
Segment Reporting Information [Line Items]
Net earned premium	0	0	0	0
Other | Corporate and Other
Segment Reporting Information [Line Items]
Net earned premium	343,801	212,744	689,764	612,720
Other | Corporate and Other | Small Commercial Business
Segment Reporting Information [Line Items]
Net earned premium	108,923	64,396	277,913	212,323
Other | Corporate and Other | Specialty Risk and Extended Warranty
Segment Reporting Information [Line Items]
Net earned premium	211,655	118,672	345,934	282,020
Other | Corporate and Other | Specialty Program
Segment Reporting Information [Line Items]
Net earned premium	$ 23,223	$ 29,676	$ 65,917	$ 118,377

Segments - Long Lived Assets an

Segments - Long Lived Assets and Total Assets of Business Segments (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total assets	$ 21,519,538	$ 17,091,019
Operating Segments
Segment Reporting Information [Line Items]
Total assets	21,519,538	17,091,019
Operating Segments | Small Commercial Business
Segment Reporting Information [Line Items]
Total assets	9,861,162	7,781,045
Operating Segments | Specialty Risk and Extended Warranty
Segment Reporting Information [Line Items]
Total assets	7,448,937	6,370,861
Operating Segments | Specialty Program
Segment Reporting Information [Line Items]
Total assets	4,209,439	2,936,710
Operating Segments | Corporate and Other
Segment Reporting Information [Line Items]
Total assets	$ 0	$ 2,403

Subsequent Event - Additional I

Subsequent Event - Additional Information (Detail) $ in Thousands	Oct. 28, 2016USD ($)
AmeriHealth Casualty Insurance Company | Subsequent Event
Subsequent Event [Line Items]
Acquisition price	$ 90