AmTrust Financial Services (AFSIP) 10-Q/A 30 Jun 17 2016 Q2 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 01, 2016
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
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		170,668,960

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Investments:
Fixed maturities, available-for-sale, at fair value (amortized cost $6,617,396; $5,482,042)	$ 6,838,968		$ 5,433,797	$ 4,842,644
Equity securities, available-for-sale, at fair value (cost $154,536; $109,346)	161,880		104,497	103,093
Equity securities, trading, at fair value (cost $26,232; $26,937)	26,847		27,271	30,652
Short-term investments	9,868		17,171	17,710
Equity investment in unconsolidated subsidiaries – related party	149,573		138,023	126,919
Other investments (related party $68,186; $64,869; recorded at fair value $38,039; $30,309)	129,414		106,176	45,572
Total investments	7,316,550		5,826,935	5,217,391
Cash and cash equivalents	1,127,546		1,003,916	869,969		$ 880,899
Restricted cash and cash equivalents	591,984		380,699	248,940
Accrued interest and dividends	55,940		51,487	38,167
Premiums receivable, net	2,708,311		2,235,953	2,485,239
Reinsurance recoverable (related party $2,236,292; $1,963,140)	3,856,087		3,007,377	2,799,007
Prepaid reinsurance premium (related party $1,194,588; $1,066,961)	1,924,747		1,531,866	1,583,560
Other assets (related party $205,320; $189,223; recorded at fair value $304,434; $264,001)	1,427,604		1,477,006	1,187,159
Deferred policy acquisition costs	842,298	$ 736,307	693,639	689,849	$ 649,233	629,261
Property and equipment, net	316,516		257,128	172,138
Goodwill	603,662		432,700	422,357
Intangible assets	395,589		367,345	330,871
Total assets	21,166,834		17,266,051	16,044,647
Liabilities:
Loss and loss adjustment expense reserves	9,097,408		7,208,367	6,380,845
Unearned premiums	4,819,255		4,014,387	3,868,747
Ceded reinsurance premiums payable (related party $679,083; $379,988)	843,473		651,051	831,665
Accrued expenses and other liabilities (related party $167,975; $167,975; recorded at fair value $473,492; $139,861)	1,968,305		1,497,772	1,526,591
Debt (net of debt issuance cost of $16,542, $16,902)	1,229,599		993,067	914,482
Total liabilities	17,958,040		14,364,644	13,557,587
Commitments and contingencies
Redeemable non-controlling interest	941		1,172	977
Stockholders’ equity:
Common stock, $0.01 par value; 500,000 shares authorized; 196,455 issued in 2016 and 2015, respectively; 172,432 and 175,915 outstanding in 2016 and 2015, respectively	1,965		1,964	1,964
Preferred stock, $0.01 par value; 10,000 shares authorized; 5,112 and 4,968 issued and outstanding; $626,250 and $482,500 aggregated liquidation preference in 2016 and 2015, respectively.	626,250		482,500	482,500
Additional paid-in capital	1,380,153		1,383,492	1,117,249
Treasury stock at cost; 24,023 and 20,540 shares in 2016 and 2015, respectively	(262,984)		(162,867)	(222,240)
Accumulated other comprehensive loss, net of tax	(29,806)		(133,392)	(19,406)
Retained earnings	1,311,056		1,152,083	963,528
Total AmTrust Financial Services, Inc. equity	3,026,634		2,723,780	2,323,595
Non-controlling interest	181,219		176,455	162,488
Total stockholders’ equity	3,207,853		2,900,235	2,486,083		$ 2,071,394
Total liabilities and stockholders' equity	$ 21,166,834		$ 17,266,051	$ 16,044,647

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fixed maturities, available-for-sale, amortized cost	$ 6,617,396	$ 5,482,042
Equity securities, available-for-sale, cost	154,536	109,346
Trading securities, cost basis	26,232	26,937
Other Investments	38,039	30,309
Other investments (related party $68,186; $64,869; recorded at fair value $38,039; $30,309)	129,414	106,176
Reinsurance recoverable	3,856,087	3,007,377
Prepaid reinsurance premium	1,924,747	1,531,866
Other assets, fair value	304,434	264,001
Other assets	1,427,604	1,477,006
Ceded reinsurance premiums payable	843,473	651,051
Accrued expenses and other current liabilities	462,537	132,558
Accrued expenses and other liabilities (related party $167,975; $167,975; recorded at fair value $473,492; $139,861)	$ 1,968,305	$ 1,497,772
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	196,455,000	196,455,000
Common stock, outstanding (in shares)	172,432,000	175,915,000
Liquidation preference	$ 626,250	$ 482,500
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred Stock, shares issued	5,112,000	4,968,000
Preferred stock, shares outstanding (in shares)	5,112,000	4,968,000
Treasury stock at cost (in shares)	24,023,000	20,540,000
Related Party Transactions
Other investments (related party $68,186; $64,869; recorded at fair value $38,039; $30,309)	$ 68,186	$ 64,869
Reinsurance recoverable	2,236,292	1,963,140
Prepaid reinsurance premium	1,194,588	1,066,961
Other assets	205,320	189,223
Ceded reinsurance premiums payable	679,083	379,988
Accrued expenses and other liabilities (related party $167,975; $167,975; recorded at fair value $473,492; $139,861)	$ 167,975	$ 167,975

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Premium income:
Net written premium	$ 1,268,436	$ 1,008,721	$ 2,489,115	$ 2,051,910
Change in unearned premium	(86,684)	(39,751)	(233,081)	(133,563)
Net earned premium	1,181,752	968,970	2,256,034	1,918,347
Service and fee income (related parties - three months $21,608; $21,281 and six months $41,771; $38,685)	124,306	96,160	253,111	198,279
Net investment income	50,745	36,283	100,160	70,856
Net realized gain (loss) on investments	15,099	(2,642)	23,074	13,011
Total revenues	1,371,902	1,098,771	2,632,379	2,200,493
Expenses:
Loss and loss adjustment expense	784,393	638,475	1,499,466	1,251,758
Acquisition costs and other underwriting expenses (net of ceding commission - related party - three months $145,610; $129,222 and six months $284,001; $247,909)	294,477	246,172	566,945	478,953
Other	134,344	101,136	263,611	202,096
Total expenses	1,213,214	985,783	2,330,022	1,932,807
Income before other income (expense), provision for income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest	158,688	112,988	302,357	267,686
Other income (loss):
Interest expense (net of interest income - related party - three months $2,187; $2,211 and six months $4,375; $4,399)	(17,912)	(11,472)	(33,786)	(23,553)
Loss on extinguishment of debt	0	0	0	(4,714)
Gain on investment in life settlement contracts net of profit commission	12,676	3,096	23,406	14,469
Foreign currency loss	(28,995)	(61,852)	(67,228)	(37,195)
Gain on acquisition	39,097	0	48,775	0
Total other income (loss)	4,866	(70,228)	(28,833)	(50,993)
Income before provision for income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest	163,554	42,760	273,524	216,693
Provision for income taxes	23,807	(8,969)	42,767	27,524
Income before equity in earnings of unconsolidated subsidiaries	139,747	51,729	230,757	189,169
Equity in earnings of unconsolidated subsidiaries – related parties	4,802	4,042	10,578	9,571
Net income	144,549	55,771	241,335	198,740
Net income attributable to non-controlling interest and redeemable non-controlling interest of subsidiaries	(5,817)	(1,346)	(9,834)	(5,429)
Net income			240,994	198,082
Net income attributable to AmTrust Financial Services, Inc.	138,732	54,425	231,501	193,311
Dividends on preferred stock	(11,576)	(8,639)	(20,367)	(14,008)
Net income attributable to AmTrust common stockholders	$ 127,156	$ 45,786	$ 211,134	$ 179,303
Earnings per common share: (usd per share)
Basic earnings per share (usd per share)	$ 0.73	$ 0.28	$ 1.21	$ 1.09
Diluted earnings per share (usd per share)	0.73	0.27	1.20	1.07
Dividends declared per common share (usd per share)	$ 0.15	$ 0.125	$ 0.3	$ 0.25
Net realized gain (loss) on investments:
Total other-than-temporary impairment loss	$ (16,956)	$ (1,466)	$ (16,956)	$ (2,482)
Portion of loss recognized in other comprehensive income	0	0	0	0
Net impairment losses recognized in earnings	(16,956)	(1,466)	(16,956)	(2,482)
Net realized gain (loss) on available for sale securities	33,391	(856)	38,663	15,813
Net unrealized gain (loss) on trading securities and other investments	(1,336)	(320)	1,367	(320)
Net realized investment gain (loss)	$ 15,099	$ (2,642)	$ 23,074	$ 13,011

Consolidated Statements of Inc5

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Service and fee income (As restated)	$ 124,306	$ 96,160	$ 253,111	$ 198,279
Interest Income form related party	2,187	2,211	4,375	4,399
Related Party Transactions
Service and fee income (As restated)	21,608	21,281	41,771	38,685
Ceding commission - earned	145,610	129,222	284,001	247,909
Interest Income form related party	$ 2,187	$ 2,211	$ 4,375	$ 4,399

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 144,549	$ 55,771	$ 241,335	$ 198,740
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(32,809)	30,665	(80,003)	(26,862)
Change in fair value of interest rate swap	168	163	287	190
Unrealized gain (loss) on securities:
Gross unrealized holding gain (loss)	170,466	(92,766)	298,119	(80,163)
Tax expense (benefit) arising during period	62,093	(32,468)	106,772	(28,057)
Net unrealized holding gain (loss)	108,373	(60,298)	191,347	(52,106)
Other-than-temporary impairment loss	(10,537)	0	(10,537)	0
Other net realized gain (loss) on investments	2,920	(790)	2,492	(1,205)
Reclassification adjustments for investment gain (loss) included in net income:	(7,617)	(790)	(8,045)	(1,205)
Other comprehensive income (loss), net of tax	68,115	(30,260)	103,586	(79,983)
Comprehensive income	212,664	25,511	344,921	118,757
Less: Comprehensive income attributable to non-controlling interest and redeemable non-controlling interest	5,817	1,346	9,834	5,429
Comprehensive income attributable to AmTrust Financial Services, Inc.	$ 206,847	$ 24,165	$ 335,087	$ 113,328

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income	$ 241,335	$ 198,740
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	59,865	40,310
Net amortization of bond premium or discount	9,707	6,537
Equity earnings on investment in unconsolidated subsidiaries	(10,578)	(9,571)
Gain on investment in life settlement contracts, net	(23,406)	(14,469)
Net realized gain on investments	(40,030)	(15,493)
Non-cash write-down of investments	16,956	2,482
Discount on notes payable	2,910	2,769
Stock based compensation	11,542	10,436
Loss on extinguishment of debt	0	4,714
Bad debt expense	8,241	7,724
Foreign currency loss	67,228	37,195
Gain on acquisition	(48,775)	0
Changes in assets - (increase) decrease:
Premiums and note receivables	(376,594)	(604,812)
Reinsurance recoverable	(174,241)	(355,894)
Deferred policy acquisition costs	(104,759)	(59,846)
Prepaid reinsurance premiums	(392,881)	(280,712)
Prepaid expenses and Other assets	205,431	(112,310)
Changes in liabilities - increase (decrease):
Ceded reinsurance premium payable	185,275	155,340
Loss and loss adjustment expense reserve	780,599	664,495
Unearned premiums	383,135	392,662
Funds held under reinsurance treaties	(28,041)	13,525
Accrued expenses and other current liabilities	(124,170)	111,615
Net cash provided by operating activities	648,749	195,437
Cash flows from investing activities:
Purchases of fixed maturities, available-for-sale	(1,100,754)	(1,168,051)
Purchases of equity securities, available-for-sale	(20,424)	(14,923)
Purchase of equity securities, trading	(100,087)	(109,555)
Purchase of other investments	(11,345)	(18,868)
Sales of fixed maturities, available-for-sale	699,304	557,111
Sales of equity securities, available-for-sale	11,697	12,184
Sales of equity securities, trading	102,267	108,325
Sales of other investments	1,242	13,337
Net (purchase) sale of short term investments	7,303	66,498
Net (purchase) sale of securities sold but not purchased	(17,448)	15,456
Receipt of life settlement contract proceeds	8,058	81,014
Acquisition of subsidiaries, net of cash obtained	(118,607)	(121,401)
Increase in restricted cash and cash equivalents	(211,285)	(62,715)
Purchase of property and equipment	(84,094)	(46,560)
Net cash used in investing activities	(834,173)	(688,148)
Cash flows from financing activities:
Revolving credit facility borrowings	0	430,000
Revolving credit facility payments	0	(365,000)
Repurchase agreements, net	366,860	48,819
Secured loan borrowings	39,361	0
Secured loan agreements payments	(3,569)	(3,478)
Convertible senior notes settlement	0	(53,606)
Subordinated notes due 2055 proceeds	0	150,000
Financing fees	0	(4,990)
Common stock issuance	276	171,672
Common stock repurchase	(103,509)	0
Contingent consideration payments	(23,446)	(9,874)
Preferred stock issuance	139,070	176,529
Non-controlling interest capital distributions from consolidated subsidiaries, net	(5,301)	(41)
Stock option exercise and other	(7,084)	(1,982)
Dividends distributed on common stock	(52,624)	(39,901)
Dividends distributed on preferred stock	(20,367)	(14,008)
Net cash provided by financing activities	329,667	484,140
Effect of exchange rate changes on cash	(20,613)	(2,359)
Net increase in cash and cash equivalents	123,630	(10,930)
Cash and cash equivalents, beginning of the period	1,003,916	880,899
Cash and cash equivalents, end of the period	1,127,546	869,969
Supplemental Cash Flow Information
Income tax payments	22,575	226,278
Interest payments on debt	28,902	18,245
Declared dividends on common stock	$ 52,189	$ 41,187

Basis of Reporting

Basis of Reporting	6 Months Ended
	Jun. 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 consolidated 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. 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 consolidated 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 consolidated financial statements and notes to the 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 six months ended June 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 $15,456 and increased the Company's cash flows from investing activities by an equivalent amount for the period ended June 30, 2015.

Restatement of Previously Issue

Restatement of Previously Issued Consolidated Financial Statements	6 Months Ended
	Jun. 30, 2016
Accounting Changes and Error Corrections [Abstract]
Restatement of Previously Issued Consolidated Financial Statements	Restatement of Previously Issued Consolidated Financial Statements In connection with the preparation, review and audit of the Company's consolidated financial statements required to be included in the Annual Report on Form 10-K for the year ended December 31, 2016, management identified certain errors in the Company's historical financial statements. As a result, the Company concluded that its previously issued consolidated financial statements for fiscal years 2015 and 2014, along with each of the four quarters included in fiscal year 2015, as well as the first three quarters of fiscal year 2016, needed to be restated. The Company's restated consolidated financial statements as of and for the years ended December 31, 2015 and 2014 were included in its Annual Report on Form 10-K for the year ended December 31, 2016. Within this report, the Company has included restated unaudited interim consolidated financial statements as of and for the three and six months ended June 30, 2016 and 2015, respectively. This Note 2 to the unaudited interim consolidated financial statements discloses the nature of the restatement matters and adjustments and shows the impact of the restatement for the three and six months ended June 30, 2016 and 2015, respectively. The restatement corrects errors primarily related to: (1) upfront recognition of the portion of warranty contract revenue associated with administration services, instead of recognizing the revenue over the life of the contract; and (2) bonuses that were expensed in the year paid but that should have been accrued as earned based on ASC 270, Interim Reporting , and ASC 450, Contingencies . The Company has also identified other adjustments described below in items (3) – (9) that have been corrected as part of this restatement. Adjustments needed to correct errors (1) Warranty fee revenue – During the preparation of its financial statements for the year ended December 31, 2016, management became aware of a misapplication of the revenue recognition guidance in relation to its accounting for warranty contract revenue associated with promotion, marketing and administration services (collectively, "administration services") provided as part of extended service plans (“ESPs”). The Company had historically recognized the majority of revenue related to administration services at the time of the sale of ESP. However, the Company revised its application of the revenue recognition guidance to record revenue related to administration services on a straight-line basis over the term of the ESP contracts. This correction of an error created an overstatement of service and fee income and an overstatement of other expenses that were also recognized upfront at the time of the sale. (2) Accrual of bonuses – In prior years, the Company had expensed discretionary bonuses paid to its employees in the year the bonuses were paid because the Company did not consider the discretionary bonuses to be “probable,” which is the standard required for accrual. Upon review of ASC 270, Interim Reporting , and ASC 450, Contingencies , management determined that its application was incorrect because, even though the bonuses were discretionary, the bonuses should have been estimated and expenses assigned to interim periods so that the interim periods bear a reasonable portion of the anticipated annual amount. This created an error resulting in an overstatement of acquisition costs and other underwriting expenses. (3) Deferred policy acquisition costs – The Company corrected errors in its calculation of deferred policy acquisition costs related to (a) the over-amortization of certain deferred acquisition costs in 2015, resulting in an overstatement of expenses in 2015, (b) the deferral of certain non-eligible salaries and consulting fees, resulting in an understatement of expenses, (c) the treatment of certain costs as both underwriting expenses and salary and benefit expenses, resulting in the duplication of the amount originally deferred, and (d) the inclusion of deferred warranty administration fees and obligor liabilities associated with the administration services provided to our ESPs, which resulted in an increase to policy acquisition expense. (4) Foreign exchange gain/(loss) – The Company corrected errors related to the re-measurement of monetary balances denominated in foreign currencies into their functional currencies that were originally recorded as a component of other comprehensive income. Given the monetary nature of some of these balances, the re-measurement impact should have been recorded as foreign currency transaction gain/(loss) in the Company's statements of income. (5) Capitalized software – The Company capitalized certain internally developed software costs that did not meet criteria for capitalization under ASC 350, Intangibles - Goodwill and Other . This error resulted overall in an over-capitalization of certain software expenses, which resulted in an understatement of expenses for the three and six months ended June 30, 2016 and an overstatement of expenses for the three and six months ended June 30, 2015. (6) Imputed interest – The Company corrected an error related to imputed interest on contingent consideration owed as a result of certain business acquisitions, which resulted in an overstatement of interest expense during the three months and six months ended June 30, 2016 and an understatement of interest expense during the three and six months ended June 30 2015. (7) Intercompany eliminations – The Company corrected an error related to internal brokerage commissions paid from one of its subsidiaries to another subsidiary, which should have been eliminated in consolidation, thereby causing an overstatement of commission income in the three and six months ended June 30, 2015. (8) Other items – The Company corrected other errors that impacted the three and six months ended June 30, 2016 and 2015 interim consolidated financial statements, including unaccrued liabilities, uncollectible other receivables, accrued commissions, unrecognized amortization expense, unrealized losses on investments and proper quarter end cut-off related to premiums and claims. (9) Balance sheet items – The Company historically recorded certain receivables (premium and other) net of commissions. The error was corrected and the Company now records the receivables on a gross basis, with the associated commission payable in other accrued expenses and liabilities. In addition, the Company corrected a classification error involving short term investments and cash and cash equivalents as of June 30, 2016 and 2015. The following summarizes the impact of the Restatement on our previously reported unaudited interim Consolidated Balance Sheets, Consolidated Statements of Income, Consolidated Statements of Comprehensive Income, Consolidated Statements of Stockholders' Equity and Consolidated Statements of Cash Flows for the three and six months ended June 30, 2016 and 2015: Consolidated Balance Sheet June 30, 2016 ASSETS As previously reported Adjustments As restated Reference (in thousands) Investments: Fixed maturities, available-for-sale, at fair value (amortized cost $6,617,396) $ 6,838,968 $ — $ 6,838,968 Equity securities, available-for-sale, at fair value (cost $154,536) 161,880 — 161,880 Equity securities, trading, at fair value (cost $26,232) 26,847 — 26,847 Short-term investments 127,880 (118,012 ) 9,868 9 Equity investment in unconsolidated subsidiaries – related parties 149,573 — 149,573 Other investments (related party $68,186; recorded at fair value $38,039) 129,414 — 129,414 Total investments 7,434,562 (118,012 ) 7,316,550 Cash and cash equivalents 1,009,534 118,012 1,127,546 8, 9 Restricted cash and cash equivalents 591,984 — 591,984 Accrued interest and dividends 55,940 — 55,940 Premiums receivable, net 2,562,165 146,146 2,708,311 8, 9 Reinsurance recoverable (related party $2,236,292) 3,856,087 — 3,856,087 Prepaid reinsurance premiums (related party $1,194,588) 1,924,747 — 1,924,747 Other assets (related party $205,320; recorded at fair value $304,434) 1,371,771 55,833 1,427,604 1 – 9 Deferred policy acquisition costs 873,641 (31,343 ) 842,298 3 Property and equipment, net 327,311 (10,795 ) 316,516 5, 8,9 Goodwill 603,662 — 603,662 Intangible assets 395,589 — 395,589 $ 21,006,993 $ 159,841 $ 21,166,834 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities: Loss and loss adjustment expense reserves $ 9,097,408 $ — $ 9,097,408 Unearned premiums 4,819,255 — 4,819,255 Ceded reinsurance premiums payable (related party $679,083) 843,473 — 843,473 Accrued expenses and other liabilities (related party $167,975; recorded at fair value $473,492) 1,604,413 363,892 1,968,305 1, 2, 6, 8, 9 Debt (net of debt issuance cost of $16,542) 1,229,599 — 1,229,599 Total liabilities 17,594,148 363,892 17,958,040 Commitments and contingencies Redeemable non-controlling interest 941 — 941 Stockholders’ equity: Common stock, $0.01 par value; 500,000 shares authorized, 196,455 issued; 172,432 outstanding 1,965 — 1,965 Preferred stock, $0.01 par value; 10,000 shares authorized, 5,112 issued and outstanding; aggregated liquidation preference $626,250 626,250 — 626,250 Additional paid-in capital 1,380,153 — 1,380,153 Treasury stock at cost; 24,023 shares (262,984 ) — (262,984 ) Accumulated other comprehensive loss, net of tax (31,791 ) 1,985 (29,806 ) 4 Retained earnings 1,517,092 (206,036 ) 1,311,056 1 – 8 Total AmTrust Financial Services, Inc. equity 3,230,685 (204,051 ) 3,026,634 Non-controlling interest 181,219 — 181,219 Total stockholders’ equity 3,411,904 (204,051 ) 3,207,853 $ 21,006,993 $ 159,841 $ 21,166,834 Consolidated Statements of Income Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 As previously reported Adjustments As restated As previously reported Adjustments As restated Reference (in thousands, except per share) Revenues: Premium income: Net written premium $ 1,268,436 $ — $ 1,268,436 $ 2,489,115 $ — $ 2,489,115 Change in unearned premium (86,684 ) — (86,684 ) (233,081 ) — (233,081 ) Net earned premium 1,181,752 — 1,181,752 2,256,034 — 2,256,034 Service and fee income (related parties - three months $21,608 and six months $41,771) 138,270 (13,964 ) 124,306 282,471 (29,360 ) 253,111 1, 8 Net investment income 50,745 — 50,745 100,160 — 100,160 Net realized gain on investments 15,099 — 15,099 23,074 — 23,074 Total revenues 1,385,866 (13,964 ) 1,371,902 2,661,739 (29,360 ) 2,632,379 Expenses: Loss and loss adjustment expense 784,393 — 784,393 1,499,466 — 1,499,466 Acquisition costs and other underwriting expenses (net of ceding commission - related party - three months $145,610 and six months $284,001) 298,803 (4,326 ) 294,477 563,437 3,508 566,945 2, 3, 5, 8 Other 132,970 1,374 134,344 261,156 2,455 263,611 1, 5, 7, 8 Total expenses 1,216,166 (2,952 ) 1,213,214 2,324,059 5,963 2,330,022 Income before other income (loss), provision for income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest 169,700 (11,012 ) 158,688 337,680 (35,323 ) 302,357 Other (expenses) income: Interest expense (net of interest income - related party - three months $2,187 and six months $4,375) (19,738 ) 1,826 (17,912 ) (37,438 ) 3,652 (33,786 ) 6 Gain on investment in life settlement contracts net of profit commission 12,676 — 12,676 23,406 — 23,406 Foreign currency loss (26,435 ) (2,560 ) (28,995 ) (62,108 ) (5,120 ) (67,228 ) 4, 8 Gain on acquisition 39,097 — 39,097 48,775 — 48,775 Total other income (loss) 5,600 (734 ) 4,866 (27,365 ) (1,468 ) (28,833 ) Income before provision for income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest 175,300 (11,746 ) 163,554 310,315 (36,791 ) 273,524 Provision for income taxes 27,918 (4,111 ) 23,807 55,644 (12,877 ) 42,767 1 – 8 Income before equity in earnings of unconsolidated subsidiaries 147,382 (7,635 ) 139,747 254,671 (23,914 ) 230,757 Equity in earnings of unconsolidated subsidiary – related parties 4,802 — 4,802 10,578 — 10,578 Net income $ 152,184 $ (7,635 ) $ 144,549 $ 265,249 $ (23,914 ) $ 241,335 Net income attributable to non-controlling interests and redeemable non-controlling interests of subsidiaries (5,817 ) — (5,817 ) (9,834 ) — (9,834 ) Net income attributable to AmTrust Financial Services, Inc. $ 146,367 $ (7,635 ) $ 138,732 $ 255,415 $ (23,914 ) $ 231,501 Dividends on preferred stock (11,576 ) — (11,576 ) (20,367 ) — (20,367 ) Net income attributable to AmTrust common stockholders $ 134,791 $ (7,635 ) $ 127,156 $ 235,048 $ (23,914 ) $ 211,134 Earnings per common share: Basic earnings per share $ 0.79 $ (0.06 ) $ 0.73 $ 1.36 $ (0.15 ) $ 1.21 Diluted earnings per share $ 0.78 $ (0.05 ) $ 0.73 $ 1.34 $ (0.14 ) $ 1.20 Dividends declared per common share $ 0.15 $ — $ 0.15 $ 0.30 $ — $ 0.30 Consolidated Statements of Comprehensive Income Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 As previously reported Adjustments As restated As previously reported Adjustments As restated Reference (in thousands, except per share) Net income $ 152,184 $ (7,635 ) $ 144,549 $ 265,249 $ (23,914 ) $ 241,335 Other comprehensive (loss) income, net of tax: Foreign currency translation adjustments (36,820 ) 4,011 (32,809 ) (84,665 ) 4,662 (80,003 ) 4 Change in fair value of interest rate swap 168 — 168 287 — 287 Unrealized gain on securities: Gross unrealized holding (loss) gain 168,963 1,503 170,466 293,683 4,436 298,119 8 Less tax expense 59,137 2,956 62,093 102,789 3,983 106,772 8 Net unrealized holding gain 109,826 (1,453 ) 108,373 190,894 453 191,347 Reclassification adjustment for investment loss included in net income, net of tax: Other-than-temporary impairment loss (10,537 ) — (10,537 ) (10,537 ) — (10,537 ) Other net realized loss on investments 2,920 — 2,920 2,492 — 2,492 Reclassification adjustment for investment loss included in net income (7,617 ) — (7,617 ) (8,045 ) — (8,045 ) Other comprehensive income, net of tax $ 65,557 $ 2,558 $ 68,115 $ 98,471 $ 5,115 $ 103,586 Comprehensive income 217,741 (5,077 ) 212,664 363,720 (18,799 ) 344,921 Less: Comprehensive income attributable to non-controlling and redeemable non-controlling interest 5,817 — 5,817 9,834 — 9,834 Comprehensive income attributable to AmTrust Financial Services, Inc. $ 211,924 $ (5,077 ) $ 206,847 $ 353,886 $ (18,799 ) $ 335,087 Consolidated Statement of Stockholders' Equity As of June 30, 2016 As previously reported Adjustments As restated Reference (in thousands) Common stock $ 1,965 $ — $ 1,965 Preferred stock 626,250 — 626,250 Additional paid-in capital 1,380,153 — 1,380,153 Treasury stock (262,984 ) — (262,984 ) Accumulated other comprehensive income (loss) (31,791 ) 1,986 (29,805 ) 4, 8 Retained earnings 1,517,092 (206,037 ) 1,311,055 1 – 8 $ 3,230,685 $ (204,051 ) $ 3,026,634 Consolidated Statements of Cash Flows Six Months Ended June 30, 2016 As previously reported Adjustments As restated Reference (in thousands) Cash flows from operating activities: Net income $ 265,249 $ (23,914 ) $ 241,335 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 54,842 5,023 59,865 5 Net amortization of bond premium or discount 9,707 — 9,707 Equity earnings on investment in unconsolidated subsidiaries (10,578 ) — (10,578 ) Gain on investment in life settlement contracts, net (23,406 ) — (23,406 ) Net realized gain on investments (40,030 ) — (40,030 ) Non-cash write-down of investments 16,956 — 16,956 Discount on notes payable 2,910 — 2,910 Stock based compensation 11,542 — 11,542 Bad debt expense 8,241 — 8,241 Foreign currency loss 62,108 5,120 67,228 4, 8 Gain on acquisition (48,775 ) — (48,775 ) Changes in assets – (increase) decrease: Premiums receivable (350,748 ) (25,846 ) (376,594 ) 8, 9 Reinsurance recoverable (172,948 ) (1,293 ) (174,241 ) 8 Deferred policy acquisition costs (125,499 ) 20,740 (104,759 ) 3 Prepaid reinsurance premiums (392,881 ) (392,881 ) Other assets 186,005 19,426 205,431 1 – 9 Changes in liabilities – increase (decrease): Ceded reinsurance premium payable 185,275 — 185,275 Loss and loss expense adjustment reserves 780,599 — 780,599 Unearned premiums 382,794 341 383,135 8 Funds held under reinsurance treaties (28,041 ) — (28,041 ) Accrued expenses and other liabilities (154,560 ) 30,390 (124,170 ) 1, 2, 6, 8, 9 Net cash provided by operating activities 618,762 29,987 648,749 Cash flows from investing activities: Purchases of fixed maturities, available-for-sale (1,299,160 ) 198,406 (1,100,754 ) 4 Purchases of equity securities, available-for-sale (111,284 ) 90,860 (20,424 ) 4 Purchases of equity securities, trading (100,101 ) 14 (100,087 ) 4 Purchases of other investments (18,509 ) 7,164 (11,345 ) 8 Sales, maturities, paydowns of fixed maturities, available-for-sale 910,939 (211,635 ) 699,304 4 Sales of equity securities, available-for-sale 89,348 (77,651 ) 11,697 4 Sales of equity securities, trading 102,261 6 102,267 4 Sales of other investments 1,242 — 1,242 Net (purchases) of short term investments (43,614 ) 50,917 7,303 9 Net (purchases) of securities sold but not purchased (17,448 ) — (17,448 ) Receipt of life settlement contract proceeds 8,058 — 8,058 Acquisition of subsidiaries, net of cash obtained (118,607 ) — (118,607 ) Decrease in restricted cash and cash equivalents, net (211,285 ) — (211,285 ) Purchase of property and equipment (65,538 ) (18,556 ) (84,094 ) 5 Net cash used in investing activities (873,698 ) 39,525 (834,173 ) Consolidated Statements of Cash Flows Six Months Ended June 30, 2016 As previously reported Adjustments As restated Reference (in thousands) Cash flows from financing activities: Repurchase agreements, net 366,860 — 366,860 Secured loan agreement borrowings 39,361 — 39,361 Secured loan agreement payments (3,569 ) — (3,569 ) Common stock issuance 276 — 276 Common stock repurchase (103,509 ) — (103,509 ) Preferred stock issuance 139,070 — 139,070 Contingent consideration payments — (23,446 ) (23,446 ) 6 Non-controlling interest capital contributions to (5,301 ) — (5,301 ) Stock option exercise and other (7,084 ) — (7,084 ) Dividends distributed on common stock (52,624 ) — (52,624 ) Dividends distributed on preferred stock (20,367 ) — (20,367 ) Net cash provided by financing activities 353,113 (23,446 ) 329,667 Effect of exchange rate changes on cash (20,613 ) — (20,613 ) Net increase in cash and cash equivalents 77,564 46,066 123,630 Cash and cash equivalents, beginning of year 931,970 71,946 1,003,916 1, 2, 4 – 9 Cash and cash equivalents, end of period $ 1,009,534 $ 118,012 $ 1,127,546 Supplemental Cash Flow Information Interest payments on debt $ 28,902 — $ 28,902 Income tax payments 22,575 — 22,575 Declared dividends on common stock 52,189 — 52,189 Consolidated Balance Sheet June 30, 2015 ASSETS As previously reported Adjustments As restated Reference (in thousands) Investments: Fixed maturities, available-for-sale, at fair value (amortized cost $4,814,001) $ 4,842,644 $ — $ 4,842,644 Equity securities, available-for-sale, at fair value (cost $99,595) 103,093 — 103,093 Equity securities, trading, at fair value (cost $29,668) 30,652 — 30,652 Short-term investments 41,707 (23,997 ) 17,710 9 Equity investment in unconsolidated subsidiaries – related parties 126,919 — 126,919 Other investments (related party $9,923; recorded at fair value $14,759) 45,572 — 45,572 Securities pledged, at fair value (amortized cost of $51,862) 50,801 — 50,801 Total investments 5,241,388 (23,997 ) 5,217,391 Cash and cash equivalents 845,972 23,997 869,969 8, 9 Restricted cash and cash equivalents 248,940 — 248,940 Accrued interest and dividends 38,167 — 38,167 Premiums receivable, net 2,376,818 108,421 2,485,239 8, 9 Reinsurance recoverable (related party $1,824,707) 2,799,007 — 2,799,007 Prepaid reinsurance premium (related party $1,136,562) 1,583,560 — 1,583,560 Other assets (related party $169,615; recorded at fair value $267,393) 1,190,777 (3,618 ) 1,187,159 1,5,8,9 Deferred policy acquisition costs 695,150 (5,301 ) 689,849 3 Property and equipment, net 180,822 (8,684 ) 172,138 5, 8 Goodwill 422,357 — 422,357 Intangible assets 330,871 — 330,871 $ 15,953,829 $ 90,818 $ 16,044,647 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities: Loss and loss adjustment expense reserves $ 6,380,845 $ — $ 6,380,845 Unearned premiums 3,868,747 — 3,868,747 Ceded reinsurance premiums payable (related party $535,843) 831,665 — 831,665 Accrued expenses and other liabilities (related party $167,975; recorded at fair value $127,684) 1,289,511 237,080 1,526,591 1, 2, 6, 8, 9 Deferred income taxes 35,257 — 35,257 Debt (net of debt issuance cost of $13,122) 914,482 — 914,482 Total liabilities 13,320,507 237,080 13,557,587 Commitments and contingencies Redeemable non-controlling interest 977 — 977 Stockholders’ equity: Common stock, $0.01 par value; 300,000 shares authorized, 196,442 issued; 165,274 outstanding 1,964 — 1,964 Preferred stock, $0.01 par value; 10,000 shares authorized, 4,968 issued and outstanding; aggregated liquidation preference $482,500 482,500 — 482,500 Additional paid-in capital 1,117,249 — 1,117,249 Treasury stock at cost; 15,584 shares (222,240 ) — (222,240 ) Accumulated other comprehensive loss (48,545 ) 29,139 (19,406 ) 4 Retained earnings 1,138,929 (175,401 ) 963,528 1, 2, 4, 5, 8 Total AmTrust Financial Services, Inc. equity 2,469,857 (146,262 ) 2,323,595 Non-controlling interest 162,488 — 162,488 Total stockholders’ equity 2,632,345 (146,262 ) 2,486,083 $ 15,953,829 $ 90,818 $ 16,044,647 Consolidated Statements of Income Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 As previously reported Adjustments As restated As previously reported Adjustments As restated Reference (in thousands, except share data) Revenues: Premium income: Net written premium $ 1,008,721 $ — $ 1,008,721 $ 2,051,910 $ — $ 2,051,910 Change in unearned premium (39,751 ) — (39,751 ) (133,563 ) — (133,563 ) Net earned premium 968,970 968,970 1,918,347 — 1,918,347 Service and fee income (related parties - three months $21,281 and six months $38,685) 107,737 (11,577 ) 96,160 220,623 (22,344 ) 198,279 1 Net investment income 36,283 — 36,283 70,856 — 70,856 Net realized gain on investments (2,642 ) — (2,642 ) 13,011 — 13,011 Total revenues 1,110,348 (11,577 ) 1,098,771 2,222,837 (22,344 ) 2,200,493 Expenses: Loss and loss adjustment expense 638,475 — 638,475 1,251,758 — 1,251,758 Acquisition costs and other underwriting expenses (net of ceding commission - related party - three months $129,222 and six months $247,909) 238,710 7,462 246,172 470,386 8,567 478,953 2, 3, 5, 8 Other 98,130 3,006 101,136 196,587 5,509 202,096 1, 5, 7, 8 Total expenses 975,315 10,468 985,783 1,918,731 14,076 1,932,807 Income before other (expense) income, provision for income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest 135,033 (22,045 ) 112,988 304,106 (36,420 ) 267,686 Other (expenses) income: Interest expense (net of interest income - related party - three months $2,211 and six months $$4,399) (9,646 ) (1,826 ) (11,472 ) (19,901 ) (3,652 ) (23,553 ) 6 Loss on extinguishment of debt — — — (4,714 ) — (4,714 ) Gain on investment in life settlement contracts net of profit commission 3,096 — 3,096 14,469 — 14,469 Foreign currency loss (47,320 ) (14,532 ) (61,852 ) (7,366 ) (29,829 ) (37,195 ) 4, 8 Total other (expenses) income (53,870 ) (16,358 ) (70,228 ) (17,512 ) (33,481 ) (50,993 ) Income before provision for income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest 81,163 (38,403 ) 42,760 286,594 (69,901 ) 216,693 Provision for income taxes 4,472 (13,441 ) (8,969 ) 51,284 (23,760 ) 27,524 1, 2, 3, 4, 5, 6, 8 Income before equity in earnings of unconsolidated subsidiaries 76,691 (24,962 ) 51,729 235,310 (46,141 ) 189,169 Equity in earnings of unconsolidated subsidiary – related parties 4,042 — 4,042 9,571 — 9,571 Net income $ 80,733 $ (24,962 ) $ 55,771 $ 244,881 $ (46,141 ) $ 198,740 Net income attributable to non-controlling interests and redeemable non-controlling interests of subsidiaries (1,346 ) — (1,346 ) (5,429 ) — (5,429 ) Net income attributable to AmTrust Financial Services, Inc. $ 79,387 $ (24,962 ) $ 54,425 $ 239,452 $ (46,141 ) $ 193,311 Dividends on preferred stock (8,639 ) — (8,639 ) (14,008 ) — (14,008 ) Net income attributable to AmTrust common stockholders $ 70,748 $ (24,962 ) $ 45,786 $ 225,444 $ (46,141 ) $ 179,303 Earnings per common share: Basic earnings per share $ 0.43 $ (0.15 ) $ 0.28 $ 1.38 $ (0.29 ) $ 1.09 Diluted earnings per share $ 0.42 $ (0.15 ) $ 0.27 $ 1.35 $ (0.28 ) $ 1.07 Dividends declared per common share $ 0.125 $ — $ 0.125 $ 0.25 $ — $ 0.25 Consolidated Statements of Comprehensive Income Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 As previously reported Adjustments As Restated As previously reported Adjustments As Restated Reference (in thousands, except per share) Net income $ 80,733 $ (24,962 ) $ 55,771 $ 244,881 $ (46,141 ) $ 198,740 Other comprehensive loss, net of tax: 0 0 Foreign currency translation adjustments 14,021 16,644 30,665 (51,332 ) 24,470 (26,862 ) 4 Change in fair value of interest rate swap 163 — 163 190 — 190 Unrealized loss on securities: Gross unrealized holding loss (91,679 ) (1,087 ) (92,766 ) (80,494 ) 331 (80,163 ) 8 Less: tax benefit (32,088 ) (380 ) (32,468 ) (28,173 ) 116 (28,057 ) 8 Net unrealized holding loss (59,591 ) (707 ) (60,298 ) (52,321 ) 215 (52,106 ) Reclassification adjustment for investment loss included in net income, net of tax: Other-than-temporary impairment loss — — — — — — Other net realized loss on investments (790 ) — (790 ) (1,205 ) — (1,205 ) Reclassification adjustment for investment loss included in net income (790 ) — (790 ) (1,205 ) — (1,205 ) Other comprehensive loss, net of tax $ (46,197 ) $ 15,937 $ (30,260 ) $ (104,668 ) $ 24,685 $ (79,983 ) Comprehensive income 34,536 (9,025 ) 25,511 140,213 (21,456 ) 118,757 Less: Comprehensive income attributable to non-controlling and redeemable non-controlling interest 1,346 — 1,346 5,429 — 5,429 Comprehensive income attributable to AmTrust Financial Services, Inc. $ 33,190 $ (9,025 ) $ 24,165 $ 134,784 $ (21,456 ) $ 113,328 Consolidated Statement of Stockholders' Equity As of June 30, 2015 As previously reported Adjustments As Restated Reference (in thousands) Common stock $ 1,964 $ — $ 1,964 Preferred stock 482,500 — 482,500 Additional paid-in capital 1,117,249 — 1,117,249 Treasury stock (222,240 ) — (222,240 ) Accumulated other comprehensive loss (48,545 ) 29,139 (19,406 ) 4, 8 Retained earnings 1,138,929 (175,401 ) 963,528 1, 2, 4, 5, 8 $ 2,469,857 $ (146,262 ) $ 2,323,595 Consolidated Statement of Cash Flows Six Months Ended June 30, 2015 As previously reported Adjustments As restated Reference (in thousands) Cash flows from operating activities: Net income $ 244,881 $ (46,141 ) $ 198,740 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 38,519 1,791 40,310 5 Net amortization of bond premium or discount 6,537 — 6,537 Equity earnings on investment in unconsolidated subsidiaries (9,571 ) — (9,571 ) Gain on investment in life settlement contracts, net (14,469 ) — (14,469 ) Net realized gain on investments (15,493 ) — (15,493 ) Non-cash write-down of investments 2,482 — 2,482 Discount on notes payable 2,769 — 2,769 Stock based compensation 10,436 — 10,436 Loss on extinguishment of debt 4,714 — 4,714 Bad debt expense 7,724 — 7,724 Foreign currency loss 7,366 29,829 37,195 4 Changes in assets – (increase) decrease: Premiums receivable (536,715 ) (68,097 ) (604,812 ) 8, 9 Reinsurance recoverable (355,989 ) 95 (355,894 ) 8 Deferred policy acquisition costs (66,026 ) 6,180 (59,846 ) 3 Prepaid reinsurance premiums (280,712 ) — (280,712 ) Other assets (124,061 ) 11,751 (112,310 ) 1, 8, 9 Changes in liabilities – increase (decrease): Ceded reinsurance premium payable 155,340 — 155,340 Loss and loss adjustment expense reserves 664,495 — 664,495 Unearned premiums 394,994 (2,332 ) 392,662 8 Funds held under reinsurance treaties 13,525 — 13,525 Accrued expenses and other current liabilities 15,883 95,732 111,615 1, 2, 6, 8, 9 Net cash provided by operating activities 166,629 28,808 195,437 Cash flows from investing activities: Purchases of fixed maturities, available-for-sale (1,168,051 ) — (1,168,051 ) Purchases of equity securities, available-for-sale (14,923 ) — (14,923 ) Purchases of equity securities, trading (109,555 ) — (109,555 ) Purchases of other investments (27,234 ) 8,366 (18,868 ) 8 Sales, maturities, paydowns of fixed maturities, available-for-sale 560,386 (3,275 ) 557,111 9 Sales of equity securities, available-for-sale 12,184 — 12,184 Sales of equity securities, trading 108,325 — 108,325 Sales of other investments 13,337 — 13,337 Net sales of short term investments 42,501 23,997 66,498 9 Net sale of securities sold but not purchased 15,456 — 15,456 Receipt of life settlement contract proceeds 81,014 — 81,014 Acquisition of subsidiaries, net of cash obtained (121,401 ) — (121,401 ) Increase in restricted cash and cash equivalents, net (62,715 ) — (62,715 ) Purchase of property and equipment (44,386 ) (2,174 ) (46,560 ) 5 Net cash used in investing activities (715,062 ) 26,914 (688,148 ) Cash flows from financing activities: Revolving credit facility borrowings 430,000 — 430,000 Revolving credit facility payments (365,000 ) — (365,000 ) Repurchase agreements, net 48,819 — 48,819 Secured loan agreement payments (3,478 ) — (3,478 ) 2055 Subordinated notes proceeds 150,000 — 150,000 Consolidated Statement of Cash Flows Six Months Ended June 30, 2015 As previously reported Adjustments As restated Reference (in thousands) Convertible senior notes payments (53,606 ) — (53,606 ) Financing fees (4,990 ) — (4,990 ) Common stock issuance 171,672 — 171,672 Preferred stock issuance 176,529 — 176,529 Contingent consideration payments — (9,874 ) (9,874 ) 6 Non-controlling interest capital contributions to consolidated subsidiaries, net (41 ) — (41 ) Stock option exercise and other (1,982 ) — (1,982 ) Dividends distributed on common stock (39,901 ) — (39,901 ) Dividends distributed on preferred stock (14,008 ) — (14,008 ) Net cash provided by financing activities 494,014 (9,874 ) 484,140 Effect of exchange rate changes on cash (2,359 ) — (2,359 ) Net increase in cash and cash equivalents (56,778 ) 45,848 (10,930 ) Cash and cash equivalents, beginning year 902,750 (21,851 ) 880,899 1, 2, 4 – 9 Cash and cash equivalents, end of period $ 845,972 $ 23,997 $ 869,969 Supplemental Cash Flow Information Income tax payments $ 226,278 $ — $ 226,278 Interest payments on debt 18,245 — 18,245 Declared dividends on common stock 41,187 — 41,187

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 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 six months ended June 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. In June 2016, the Financial Accounting Standards Board ("FASB") completed its Financial Instruments—Credit Losses project by issuing Accounting Standards Update ("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 Accounting Standards Update ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which simplified 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 combines 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 September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments , which requires that an acquirer in a business combination transaction recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The ASU requires that the acquirer record, in the same period's financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. It also requires an entity to present separately on the face of the income statement or disclose in the notes to the financial statements the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The updated guidance was effective for reporting periods beginning after December 15, 2015, and should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this ASU with earlier application permitted for financial statements that have not been issued. The Company elected to early adopt this ASU on September 30, 2015. The adoption of this guidance did not have a material effect on the Company's 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 should be 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. In May 2015, the FASB issued 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.

Investments

Investments	6 Months Ended
	Jun. 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 June 30, 2016 and December 31, 2015 , are presented below: (Amounts in Thousands) Original or amortized cost Gross unrealized gains Gross unrealized losses Fair Value Preferred stock $ 3,629 $ — $ (33 ) $ 3,596 Common stock 150,907 14,895 (7,518 ) 158,284 U.S. treasury securities 272,547 4,778 (1 ) 277,324 U.S. government agencies 9,541 207 — 9,748 Municipal bonds 838,930 40,406 (1,151 ) 878,185 Foreign government 122,470 8,314 (503 ) 130,281 Corporate bonds: Finance 1,389,171 60,930 (18,270 ) 1,431,831 Industrial 2,051,346 113,173 (25,306 ) 2,139,213 Utilities 183,995 7,155 (4,749 ) 186,401 Commercial mortgage backed securities 186,920 5,898 (1,731 ) 191,087 Residential mortgage backed securities: Agency backed 1,117,536 37,748 (254 ) 1,155,030 Non-agency backed 51,932 1,495 (276 ) 53,151 Collateralized loan / debt obligations 367,228 2,968 (9,122 ) 361,074 Asset-backed securities 25,780 59 (196 ) 25,643 $ 6,771,932 $ 298,026 $ (69,110 ) $ 7,000,848 (Amounts in Thousands) Original 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 June 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 June 30, 2016 and 2015 were approximately $585,894 and $267,049 , respectively. Proceeds from the sale of investments in available-for-sale securities during the six months ended June 30, 2016 and 2015 were approximately $711,001 and $569,295 , respectively. A summary of the Company’s available-for-sale fixed maturities as of June 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. June 30, 2016 December 31, 2015 (Amounts in Thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 216,852 $ 217,214 $ 125,563 $ 124,763 Due after one through five years 1,508,569 1,543,107 913,365 909,634 Due after five through ten years 2,753,851 2,883,670 2,586,061 2,537,734 Due after ten years 388,727 408,992 352,397 357,288 Mortgage and asset backed securities 1,749,397 1,785,986 1,504,656 1,504,378 Total fixed maturities $ 6,617,396 $ 6,838,969 $ 5,482,042 $ 5,433,797 Other-than-temporary impairment ("OTTI") charges of our fixed maturities and equity securities classified as available-for-sale are presented below: Three Months Ended June 30, Six Months Ended June 30, (Amounts in Thousands) 2016 2015 2016 2015 Equity securities recognized in earnings $ 16,956 $ 176 $ 16,956 $ 1,192 Fixed-maturity securities recognized in earnings — 1,290 — 1,290 $ 16,956 $ 1,466 $ 16,956 $ 2,482 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 June 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 $ 19,282 $ (6,740 ) 68 $ 1,490 $ (812 ) 28 $ 20,772 $ (7,552 ) U.S. treasury securities 960 (1 ) 5 651 — 1 1,611 (1 ) Municipal bonds 48,738 (456 ) 36 15,391 (694 ) 29 64,129 (1,150 ) Foreign government 13,405 (503 ) 10 — — — 13,405 (503 ) Corporate bonds: Finance 161,268 (17,068 ) 109 42,783 (1,201 ) 32 204,051 (18,269 ) Industrial 191,697 (20,201 ) 162 119,185 (5,105 ) 61 310,882 (25,306 ) Utilities 10,658 (1,702 ) 17 20,747 (3,047 ) 10 31,405 (4,749 ) Commercial mortgage backed securities 39,385 (547 ) 16 47,712 (1,184 ) 60 87,097 (1,731 ) Residential mortgage backed securities: Agency backed 4,028 (13 ) 28 26,573 (241 ) 34 30,601 (254 ) Non-agency backed 18,001 (207 ) 16 3,521 (70 ) 5 21,522 (277 ) Collateralized loan / debt obligations 157,122 (6,105 ) 61 58,079 (3,018 ) 24 215,201 (9,123 ) Asset-backed securities 16,188 (187 ) 23 1,041 (8 ) 8 17,229 (195 ) Total temporarily impaired securities $ 680,732 $ (53,730 ) 551 $ 337,173 $ (15,380 ) 292 $ 1,017,905 $ (69,110 ) 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 843 and 2,011 securities at June 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 June 30, 2016 , we have 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 June 30, 2016 , for the $15,380 of unrealized losses related to securities in unrealized loss positions for a period of twelve or more consecutive months, $2,091 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 gain and loss of trading securities as of June 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 $ 26,232 $ 1,215 $ (600 ) $ 26,847 (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 June 30, 2016 and 2015 were approximately $49,517 and $48,057 , respectively. Proceeds from the sale of investments in trading securities during the six months ended June 30, 2016 and 2015 were approximately $102,267 and $108,325 , respectively. (c) Investment Income Net investment income for the three and six months ended June 30, 2016 and 2015 was derived from the following sources: Three Months Ended June 30, Six Months Ended June 30, (Amounts in Thousands) 2016 2015 2016 2015 Fixed maturities, available-for-sale $ 46,235 $ 35,199 $ 92,428 $ 67,952 Equity securities, available-for-sale 4,098 661 6,462 1,070 Equity securities, trading (125 ) 32 (278 ) 40 Cash and short term investments 686 923 1,772 2,588 50,894 36,815 100,384 71,650 Investment expenses (149 ) (532 ) (224 ) (794 ) $ 50,745 $ 36,283 $ 100,160 $ 70,856 (d) Realized Gains and Losses The tables below summarize the gross realized gains and (losses) for the three and six months ended June 30, 2016 and 2015 : (Amounts in Thousands) Three Months Ended June 30, 2016 Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 35,008 $ (1,571 ) $ 33,437 Equity securities, available-for-sale 608 (658 ) (50 ) Equity securities, trading 5,315 (5,575 ) (260 ) Other invested assets 4 (1,076 ) (1,072 ) Write-down of equity securities, available-for-sale — (16,956 ) (16,956 ) $ 40,935 $ (25,836 ) $ 15,099 (Amounts in Thousands) Three Months Ended June 30, 2015 Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 2,228 $ (3,653 ) $ (1,425 ) Equity securities, available-for-sale 102 (32 ) 70 Equity securities, trading 3,414 (2,025 ) 1,389 Other invested assets — (1,210 ) (1,210 ) Write-down of fixed maturities, available-for-sale — (176 ) (176 ) Write-down of equity securities, available-for-sale — (1,290 ) (1,290 ) $ 5,744 $ (8,386 ) $ (2,642 ) (Amounts in Thousands) Six Months Ended June 30, 2016 Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 39,811 $ (1,617 ) $ 38,194 Equity securities, available-for-sale 1,268 (799 ) 469 Equity securities, trading 14,927 (12,431 ) 2,496 Other invested assets 4 (1,133 ) (1,129 ) Write-down of equity securities, available-for-sale — (16,956 ) (16,956 ) $ 56,010 $ (32,936 ) $ 23,074 (Amounts in Thousands) Six Months Ended June 30, 2015 Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 22,922 $ (7,843 ) $ 15,079 Equity securities, available-for-sale 2,266 (1,711 ) 555 Equity securities, trading 6,737 (4,500 ) 2,237 Other invested assets — (2,378 ) (2,378 ) Write-down of fixed securities, available-for-sale — (1,290 ) (1,290 ) Write-down of equity securities, trading — (1,192 ) (1,192 ) $ 31,925 $ (18,914 ) $ 13,011 (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. As of June 30, 2016 and December 31, 2015 , the Company had two interest rate swaps designated as hedges that were recorded as a liability in the total amount of $636 and $1,077 , respectively, and were included as a component of accrued expenses and other liabilities. The following table presents the notional amounts by remaining maturity of the Company’s interest rate swaps as of June 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 $ 70,000 $ — $ — $ — $ 70,000 (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 June 30, 2016 and December 31, 2015 are as follows: (Amounts in Thousands) June 30, 2016 December 31, 2015 Restricted cash and cash equivalents $ 591,984 $ 380,699 Restricted investments - fixed maturities at fair value 1,815,846 1,490,547 Total restricted cash, cash equivalents, and investments $ 2,407,830 $ 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 $21,170 and $38,618 as of June 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. From time to time, the Company enters into repurchase agreements that are subject to a master netting arrangement, which are accounted for as collateralized borrowing transactions and are recorded at contract amounts. The Company receives cash or securities that it invests or holds in short term or fixed income securities. As of June 30, 2016 , the Company had 28 repurchase agreements with an outstanding principal amount of $366,860 , which approximates fair value, at interest rates between 0.70% and 1.00% . The Company had 24 repurchase agreements with one counter-party totaling $232,540 and 4 repurchase agreements with another counter-party totaling $134,319 . Interest expense associated with these repurchase agreements for the three and six months ended June 30, 2016 was $52 . The Company had approximately $326,586 of collateral pledged in support of these agreements. The Company records interest expense related to repurchase agreements as a component of investment income.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 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 June 30, 2016 and December 31, 2015 : (Amounts in Thousands) Total Level 1 Level 2 Level 3 Assets: U.S. treasury securities $ 277,324 $ 277,324 $ — $ — U.S. government agencies 9,748 — 9,748 — Municipal bonds 878,185 — 878,185 — Foreign government 130,281 — 130,281 — Corporate bonds and other bonds: Finance 1,431,831 — 1,431,831 — Industrial 2,139,212 — 2,139,212 — Utilities 186,401 — 186,401 — Commercial mortgage backed securities 191,087 — 191,087 — Residential mortgage backed securities: Agency backed 1,155,030 — 1,155,030 — Non-agency backed 53,151 — 53,151 — Collateralized loan / debt obligations 361,074 — 361,074 — Asset-backed securities 25,644 — 25,644 — Equity securities, available-for-sale 161,880 129,994 7,121 24,764 Equity securities, trading 26,847 26,847 — — Short term investments (As restated) 9,868 9,868 — — Life settlement contracts 304,434 — — 304,434 $ 7,341,997 $ 444,033 $ 6,568,765 $ 329,198 Liabilities: Equity securities sold but not yet purchased $ 21,170 $ 21,170 $ — $ — Securities sold under agreements to repurchase, at contract value 366,860 — 366,860 — Life settlement contract profit commission 9,054 — — 9,054 Contingent consideration (As restated) 75,772 — — 75,772 Derivatives 636 — 636 — $ 473,492 $ 21,170 $ 367,496 $ 84,826 (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 (as restated) 17,171 17,171 — — Life settlement contracts 264,001 — — 264,001 $ 5,846,737 $ 153,764 $ 5,391,761 $ 301,212 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 (as restated) 84,760 — — 84,760 Derivatives 1,077 — 1,077 — $ 139,861 $ 18,163 $ 21,532 $ 100,166 There were no transfers between Level 1 and Level 2 during the six months ended June 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 – 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 six months ended June 30, 2016 and 2015 : (Amounts in Thousands) Balance as of March 31, 2016 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of June 30, Equity securities, available-for-sale 25,556 — (776 ) (16 ) — — 24,764 Life settlement contracts 294,573 28,532 — 11,330 (30,001 ) — 304,434 Life settlement contract profit commission (7,168 ) (1,886 ) — — — — (9,054 ) Contingent consideration (as restated) (73,867 ) (3,587 ) — (11,461 ) 13,143 — (75,772 ) Total $ 239,094 $ 23,059 $ (776 ) $ (147 ) $ (16,858 ) $ — $ 244,372 (Amounts in Thousands) Balance as of January 1, 2016 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of June 30, Equity securities, available-for-sale 37,211 — (12,449 ) 2 — — 24,764 Life settlement contracts 264,001 59,161 — 11,330 (30,058 ) — 304,434 Life settlement contract profit commission (15,406 ) (9,054 ) — — 15,406 — (9,054 ) Contingent consideration (as restated) (84,760 ) (5,998 ) — (8,460 ) 23,446 — (75,772 ) Total $ 201,046 $ 44,109 $ (12,449 ) $ 2,872 $ 8,794 $ — $ 244,372 (Amounts in Thousands) Balance as of March 31, 2015 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of June 30, 2015 Equity securities, available-for-sale 37,765 — 2,467 — — — 40,232 Life settlement contracts 259,785 17,640 — — (10,032 ) — 267,393 Life settlement contract profit commission (14,575 ) (2,419 ) — — — — (16,994 ) Contingent consideration (as restated) (80,688 ) (3,652 ) — 28 5,696 — (78,616 ) Total $ 202,287 $ 11,569 $ 2,467 $ 28 $ (4,336 ) $ — $ 212,015 (Amounts in Thousands) Balance as of January 1, 2015 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of June 30, 2015 Equity securities, available-for-sale 34,886 — 5,392 — (46 ) 40,232 Life settlement contracts 264,517 38,890 — — (36,014 ) — 267,393 Life settlement contract profit commission (16,534 ) (460 ) — — — — (16,994 ) Contingent consideration (as restated) (41,704 ) (1,826 ) — (44,960 ) 9,874 — (78,616 ) Total $ 241,165 $ 36,604 $ 5,392 $ (44,960 ) $ (26,186 ) $ — $ 212,015 The Company changed its classification from Level 2 to Level 3 in the fair value hierarchy for certain of its foreign investments of approximately $8,807 during the six months ended June 30, 2016 based on a better understanding of the inputs and assumptions related to the security. The Company's policy for transfers between fair value levels, transfer into the levels, and transfer out of levels is to recognize such transfers as of the actual date of the event or change in circumstances that cause the transfer. The Company had no transfers among the levels of fair value hierarchy during the six months ended June 30, 2015. 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 six months ended June 30, 2016 and 2015 is as follows: Three Months Ended June 30, Six Months Ended June 30, (Amounts in Thousands) 2016 2015 2016 2015 Net income $ 28,532 $ 17,640 $ 59,161 $ 38,890 Premiums paid (13,354 ) (11,158 ) (25,456 ) (22,288 ) Profit commission (1,886 ) (2,419 ) (9,054 ) (460 ) Other expenses (616 ) (967 ) (1,245 ) (1,673 ) Gain on investment in life settlement contracts $ 12,676 $ 3,096 $ 23,406 $ 14,469 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 June 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 June 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, Accrued Interest, Reinsurance Recoverables: 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. • 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 $263,368 and $149,573 , respectively, as of June 30, 2016 . • Subordinated Debentures and Debt: The fair value of the Company's material debt arrangements as of June 30, 2016 was as follows: Carrying Value Fair Value 7.25% Subordinated Notes due 2055 $ 145,140 $ 153,420 7.50% Subordinated Notes due 2055 130,628 139,914 2.75% Convertible senior notes due 2044 163,269 178,833 6.125% Notes due 2023 248,048 259,224 Junior subordinated debentures due 2035-2037 121,984 80,900 Trust preferred securities due 2033-2037 92,786 92,786 Revolving credit facility 130,000 130,000 Other 197,744 197,744 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 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 6. "Investment 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 policies in the portfolio based on the expected cash flow to be generated by the policies (death benefit less premium payments), discounted to reflect the cost of funding, 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. 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 June 30, 2016 and December 31, 2015 and only includes data for policies to which the Company assigned value at those dates: June 30, December 31, Average age of insured 82.5 years 82.0 years Average life expectancy, months (1) 108 114 Average face amount per policy (Amounts in thousands) $ 6,365 $ 6,564 Effective discount rate (2) 12.8 % 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 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 June 30, 2016 and December 31, 2015 : Change in life expectancy (Amounts in Thousands) Plus 4 Months Minus 4 Months Investment in life policies: June 30, 2016 $ (38,254 ) $ 45,092 December 31, 2015 $ (37,697 ) $ 40,997 Change in discount rate (1) (Amounts in Thousands) Plus 1% Minus 1% Investment in life policies: June 30, 2016 $ (26,601 ) $ 29,514 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	6 Months Ended
	Jun. 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 four 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”); AMT Capital Holdings, S.A. (“AMTCH”); and AMT Capital Holdings II, S.A. (“AMTCH II”). 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 six months ended June 30, 2016, the Company terminated an agreement with a third party administrator of the Tiger and AMTCH II 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. This profit commission was calculated based on the discounted anticipated cash flows and the provisions of the underlying contract, and was settled with the third party administrator in 2016. The Company accrues the related profit on the life settlements at fair value, in relation to the life settlements purchased prior to December 31, 2010. This profit commission is calculated based on the discounted anticipated cash flows and the provisions of the underlying contract. 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 as discussed in Note 5. "Fair Value of Financial Instruments." Capital contributions were made to the LSC Entities during the three and six months ended June 30, 2016 totaling $11,000 . The Company recorded a gain of $12,676 and $3,096 on investment in life settlement contracts, net of profit commission, for the three months ended June 30, 2016 and 2015, respectively, and $23,406 and $14,469 for the six months ended June 30, 2016 and 2015. The following tables describe the Company’s investment in life settlements as of June 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 June 30, 2016 0-1 — $ — $ — 1-2 1 1,868 2,500 2-3 8 42,956 71,000 3-4 9 35,331 64,422 4-5 9 19,542 62,000 Thereafter 228 204,737 1,412,314 Total 255 $ 304,434 $ 1,612,236 (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 June 30, 2016 based on 215 policies out of 255 policies, as the Company assigned no value to 40 of the policies as of June 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 June 30, 2016 and December 31, 2015 : (Amounts in Thousands, except number of Life Settlement Contracts) June 30, 2016 December 31, 2015 Number of policies with a negative value from discounted cash flow model as of period end 40 42 Premiums paid for the preceding twelve month period for period ended $ 7,163 $ 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 June 30, 2016 , are as follows: (Amounts in Thousands) Premiums Due on Life Settlement Contracts 2016 $ 64,353 2017 42,020 2018 43,105 2019 41,350 2020 37,788 Thereafter 443,511 Total $ 672,127

Deferred Policy Acquisitions Co

Deferred Policy Acquisitions Costs	6 Months Ended
	Jun. 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 six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Amounts in Thousands) (As restated) (As restated) (As restated) (As restated) Balance, beginning of period $ 736,307 $ 649,233 $ 693,639 $ 629,261 Acquisition costs deferred 293,133 209,110 509,625 386,158 Amortization (187,142 ) (168,494 ) (360,966 ) (325,570 ) Balance, end of period $ 842,298 $ 689,849 $ 842,298 $ 689,849

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt The Company’s outstanding debt consisted of the following at June 30, 2016 and December 31, 2015 : (Amounts in Thousands) June 30, 2016 December 31, 2015 Revolving credit facility $ 130,000 $ 130,000 5.5% Convertible senior notes due 2021 (the "2021 Notes") 5,166 5,103 2.75% Convertible senior notes due 2044 (the "2044 Notes") 163,269 160,258 6.125% Senior notes due 2023 (the "2023 Notes") 248,048 247,911 Junior subordinated debentures (the "2035-2037 Notes") 121,984 121,940 Trust preferred securities (the "2033-2037 TPS Notes") 92,786 — 7.25% Subordinated Notes due 2055 (the "7.25% 2055 Notes") 145,140 145,078 7.50% Subordinated Notes due 2055 (the "7.50% 2055 Notes") 130,628 130,572 Secured loan agreements 74,038 38,455 Promissory notes 118,540 13,750 $ 1,229,599 $ 993,067 Aggregate scheduled maturities of the Company’s outstanding debt, excluding unamortized deferred origination costs, at June 30, 2016 are: (Amounts in Thousands) June 30, 2017 2016 $ 3,617 2017 33,690 2018 35,921 2019 160,798 2020 26,576 Thereafter 985,539 (1) Total scheduled payments 1,246,141 Unamortized deferred origination costs (16,542 ) 1,229,599 (1) Amount includes debt outstanding under the 2021 Notes and 2044 Notes, which is net of unamortized original issue discount of $795 and $48,352 , 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 June 30, 2016 : (Amounts in Thousands) Letters of Credit Limit Letters of Credit Outstanding Letters of Credit Available Revolving credit facility $ 175,000 $ 120,136 $ 54,864 Funds at Lloyd's facility, in USD equivalent 399,420 390,405 9,015 ING Bank N.V. and Deutsche Bank Netherlands N.V. facilities, in USD equivalent 87,300 67,976 19,324 Comerica bank letters of credit 75,000 48,467 26,533 Other letters of credit, in aggregate 1,675 1,675 — 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 six months ended June 30, 2016 and 2015 was: Three Months Ended June 30, Six Months Ended June 30, (Amounts in Thousands) 2016 2015 2016 2015 Revolving credit facility $ 1,098 $ 728 $ 2,254 $ 1,544 Funds at Lloyd's facility 1,123 634 2,322 1,681 2021 Notes 114 245 229 594 2023 Notes 3,896 3,896 7,793 7,793 2035-2037 Notes 1,546 1,695 3,061 3,715 2033-2037 TPS Notes 769 — 769 — 2044 Notes 3,116 3,016 6,232 6,031 7.25% 2055 Notes 2,750 368 5,500 368 7.50% 2055 Notes 2,559 — 5,118 — Secured loan agreements 178 223 367 459 Promissory notes 1,397 154 1,555 310 Other, including interest income (As restated) (634 ) 513 (1,414 ) 1,058 $ 17,912 $ 11,472 $ 33,786 $ 23,553 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 14. "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 $1,237 for the three and six months ended June 30, 2016. 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 Republic does not consolidate such special purpose trusts, as Republic is not considered to be the primary beneficiary. The equity investment, totaling $2,786 as of June 30, 2016 on Republic's balance sheet, represents the Republic'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 June 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 4.489 (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 $363 for the three and six months ended June 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 June 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 $86 for the three and six months ended June 30, 2016. 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 14. "Acquisitions" 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 $87,300 ). The credit facilities were utilized for £61,239 (or $67,976 ) as of June 30, 2016. The Company recorded total interest expense of $97 for the three and six months ended June 30, 2016.

Acquisition Costs and Other Und

Acquisition Costs and Other Underwriting Expenses	6 Months Ended
	Jun. 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 six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Amounts in Thousands) (As restated) (As restated) (As restated) (As restated) Policy acquisition expenses $ 130,488 $ 97,578 $ 279,152 $ 211,196 Salaries and benefits 139,139 140,785 256,960 246,899 Other insurance general and administrative expenses 24,850 7,809 30,833 20,858 $ 294,477 $ 246,172 $ 566,945 $ 478,953

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 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 six months ended June 30, 2016 and 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 months and six months ended June 30, 2016 and 2015. There were no outstanding unvested restricted shares as of June 30, 2016. The following table is a summary of the elements used in calculating basic and diluted earnings per share for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Amounts in Thousands, except for earnings per share) As restated As restated As restated As restated Basic earnings per share: Net income attributable to AmTrust common shareholders $ 127,156 $ 45,786 $ 211,134 $ 179,303 Less: Net income allocated to participating securities and redeemable non-controlling interest — 111 — 444 Net income allocated to AmTrust common shareholders $ 127,156 $ 45,675 $ 211,134 $ 178,859 Weighted average common shares outstanding – basic 173,182 165,120 174,346 163,904 Less: Weighted average participating shares outstanding — 404 — 410 Weighted average common shares outstanding - basic 173,182 164,716 174,346 163,494 Net income per AmTrust common share - basic $ 0.73 $ 0.28 $ 1.21 $ 1.09 Diluted earnings per share: Net income attributable to AmTrust common shareholders $ 127,156 $ 45,786 $ 211,134 $ 179,303 Less: Net income allocated to participating securities and redeemable non-controlling interest — 111 — 444 Net income allocated to AmTrust common shareholders $ 127,156 $ 45,675 $ 211,134 $ 178,859 Weighted average common shares outstanding – basic 173,182 164,716 174,346 163,494 Plus: Dilutive effect of stock options, convertible debt, other 1,865 3,352 1,881 3,622 Weighted average common shares outstanding – dilutive 175,047 168,068 176,227 167,116 Net income per AmTrust common shares – diluted $ 0.73 $ 0.27 $ 1.20 $ 1.07 The Company's anti-dilutive securities excluded from diluted earnings per share calculation were immaterial for the three and six months ended June 30, 2016 and 2015, respectively.

Share Based Compensation

Share Based Compensation	6 Months Ended
	Jun. 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 June 30, 2016 , approximately 7,300,000 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 $5,901 and $5,522 for the three months ended June 30, 2016 and 2015, respectively and $11,542 and $10,436 for the six months ended June 30, 2016 and 2015, respectively. The Company has unrecognized compensation cost related to unvested stock options, restricted stock and non-vested RSU awards of $53,361 and $39,111 at June 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 six months ended June 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 (345,137 ) 3.79 (907,086 ) 4.40 Canceled or terminated — — (47,650 ) 5.09 Outstanding at end of period 2,438,743 7.44 2,999,004 6.84 The Company did not grant any stock options during the six months ended June 30, 2016. The weighted average grant date fair value of options granted was $10.93 during the six months ended June 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 six months ended June 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 six months ended June 30, 2016 and 2015 was $7,436 and $21,108 , respectively. The intrinsic value of stock options that were outstanding as of June 30, 2016 and December 31, 2015 was $41,992 and $66,300 , respectively. The intrinsic value of stock options that were exercisable as of June 30, 2016 and December 31, 2015 was $41,617 and $64,705 , respectively. Cash received from options exercised was $1,249 and $3,835 during the six months ended June 30, 2016 and 2015, respectively. The excess tax benefit from award exercises was approximately $2,861 and $6,254 for the six months ended June 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 six months ended June 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 $ 16.71 Granted 846,180 26.03 462,856 29.16 Vested (789,186 ) 17.45 (811,422 ) 14.40 Forfeited (32,987 ) 23.73 (20,136 ) 20.35 Non-vested at end of period 1,877,523 24.26 2,242,320 20.08 A summary of the Company's PSU activity for the six months ended June 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 — — Non-vested at end of period 681,223 25.57 767,456 24.65 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	6 Months Ended
	Jun. 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 six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Amounts in Thousands) As restated As restated As restated As restated Income before equity in earnings of unconsolidated subsidiaries and non-controlling interest $ 163,554 $ 42,760 $ 273,524 $ 216,693 Tax at federal statutory rate of 35% $ 57,244 $ 14,966 $ 95,733 $ 75,843 Tax effects resulting from: Foreign rate differential (31,523 ) (15,152 ) (48,844 ) (13,049 ) Adjustment to prior year taxes 830 861 977 (27,659 ) Permanent adjustments 3,886 (10,202 ) (587 ) (13,257 ) Valuation allowance (9,425 ) — (9,936 ) — Other, net 2,795 558 5,424 5,646 Provision (benefit) for income taxes $ 23,807 $ (8,969 ) $ 42,767 $ 27,524 Effective tax rate 14.6 % (21.0 )% 15.6 % 12.7 % As of June 30, 2016 , the Company has U.S. Net Operating Losses ("NOLs") of $52,885 that expire beginning in 2018 through 2036 . These NOLs are subject to certain limitations under Section 382 of the Internal Revenue Code due to changes in ownership of $3,197 per year. The Company also has foreign NOLs of $675,422 that currently have no expiration. The Company’s management believes that as of June 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 consolidated balance sheet. As a result, the Company recorded a valuation allowance of $159,004 and $170,043 as of June 30, 2016 and December 31, 2015, respectively, related to the foreign NOLs. The decrease in the valuation allowance from December 31, 2015 to June 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 six months ended June 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 June 30, 2016 and December 31, 2015 . No interest or penalties have been recorded by the Company for the three and six months ended June 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	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The following disclosure includes, among other items, transactions with companies in which Michael Karfunkel had a controlling interest, either individually or through The Michael Karfunkel 2005 Family Trust (the “Trust”). Mr. Karfunkel passed away on April 27, 2016. At that time, he and the Trust were controlling shareholders of the Company, he was the Company’s Chairman of the Board, and the chairman and chief executive officer of National General Holdings Corp. Mr. Karfunkel’s wife, Mrs. Leah Karfunkel, was the primary beneficiary of Mr. Karfunkel’s estate, and is a co-trustee and primary beneficiary of the Trust. 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 director of the Company. As of June 30, 2016 , our principal shareholders, Leah Karfunkel (one of the Company's directors and co-trustee of The Trust), George Karfunkel and Barry Zyskind, own or control approximately 9.1% , 2.3% and 8.7% , 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 Limited (“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 40% of its European medical liability business, including business in force at April 1, 2011. 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 six months ended June 30, 2016 and 2015 related to Maiden Reinsurance agreements: Three Months Ended June 30, Six Months Ended June 30, (Amounts in Thousands) 2016 2015 2016 2015 Results of operations: Premium written – ceded $ (529,267 ) $ (522,435 ) $ (1,072,955 ) $ (1,050,720 ) Change in unearned premium – ceded 40,704 89,077 127,402 217,692 Earned premium - ceded $ (488,563 ) $ (433,358 ) $ (945,553 ) $ (833,028 ) Ceding commission on premium written $ 155,204 $ 160,082 $ 329,538 $ 328,855 Ceding commission – deferred (9,594 ) (30,860 ) (45,537 ) (80,946 ) Ceding commission – earned $ 145,610 $ 129,222 $ 284,001 $ 247,909 Incurred loss and loss adjustment expense – ceded $ 304,480 $ 336,540 $ 659,334 $ 585,930 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 June 30, 2016 and December 31, 2015 , respectively. The Company recorded $568 and $460 of interest expense during the three months ended June 30, 2016 and 2015, respectively, and $1,130 and $909 during the six months ended June 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 June 30, 2016 was approximately $2,824,553 . 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 $6,362 and $6,255 of brokerage commission during the three months ended June 30, 2016 and 2015, respectively, and $13,224 and $12,860 during the six months ended June 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 June 30, 2016 , the Company managed approximately $4,513,000 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 $1,697 and $1,506 of asset management fees during the three months ended June 30, 2016 and 2015, respectively, and $3,342 and $2,937 during the six months ended June 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 fourteen 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 June 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, Michael Karfunkel was the chairman and chief executive officer of NGHC when he passed away in April 2016, at which time Barry Karfunkel, the son of Michael and Leah Karfunkel and brother-in-law of Barry D. Zyskind, was appointed chief executive officer of NGHC and Barry D. Zyskind was elected as 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 June 30, 2016 and 2015, the Company recorded $4,802 and $3,819 of income, respectively, and $10,578 and $9,348 during the six months ended June 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 $11,276 and $10,353 of fee income during the three months ended June 30, 2016 and 2015, respectively, and $21,186 and $17,369 during the six months ended June 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 $2,453,320 of assets as of June 30, 2016 related to this agreement. As a result of this agreement, the Company earned approximately $807 and $613 of asset management fees during the three months ended June 30, 2016 and 2015, respectively, and $1,600 and $1,139 during the six months ended June 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 consolidated financial statements. NGHC has an office lease agreement with 800 Superior. The lease agreement is through 2027. NGHC paid 800 Superior approximately $684 and $664 of rent during the three months ended June 30, 2016 and 2015, respectively, and $1,367 and $1,266 during the six months ended June 30, 2016 and 2015, respectively, under the lease agreement. As discussed in Note 15. "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 consolidated financial statements. The Company recorded approximately $518 of service and fee income related to rent for the three and six months ended June 30, 2016 . 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. As a result of the merger, ACP Re now operates 10 insurance companies in the United States and Bermuda. 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 $507,671 of assets as of June 30, 2016 . The Company recorded approximately $226 and $358 of asset management fees during the three months ended June 30, 2016 and 2015, respectively, and $457 and $824 during the six months ended June 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 set forth in Note 19. “Subsequent Events,” in July 2016, Tower’s statutory insurance companies (the “Tower Companies”) merged into CastlePoint National Insurance Company (“CNIC”), with CNIC as the surviving entity, in connection with a Conservation Plan developed by the Commissioner of Insurance of the State of California for CNIC. Upon approval of the Conservation Plan by the Superior Court of the State of California, several of the agreements described below will either be 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 ANA produces and manages 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 is reinsured by TIC pursuant to the CL Reinsurance Agreement. The Tower Companies pay ANA a 10% commission on all business written pursuant to the CL MGA Agreement and reimburse ANA for commissions payable to agents producing such business. All payments by the Tower Companies to ANA pursuant to the CL MGA Agreement will be netted out of the ceding commission payable by TIC to the Tower Companies pursuant to the CL Reinsurance Agreement. The CL MGA Agreement has a term of ten years. The Company did not record any commission during the three and six months ended June 30, 2016, and recorded $1,487 and $2,058 of commission under the CL MGA Agreement during the three and six months ended June 30, 2015. The commission income was recorded as a component of service and fee income. 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 administers 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 reimburse 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 CL Administrative Agreement will remain in effect until the first to occur of (i) the completed performance of all obligations and duties arising under the agreement, or (ii) mutual written consent. The Company charged ACP Re $1,057 and $6,447 for these services during the three months ended June 30, 2016 and 2015, respectively, and $5,983 and $23,443 for the six months ended June 30, 2016 and 2015, respectively, which were recorded as a reduction of salary and other expense. See Note 19. "Subsequent Events" elsewhere in this report for additional information on this agreement. 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 will reinsure the full amount of any payments that AII and NG Re Ltd. are obligated to make to CP Re under the Stop-Loss Agreement. Pursuant to the Stop-Loss Agreement, each of the Company and NGHC will 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 will be 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 exceeds a retention equal to the Tower Companies’ loss and loss adjustment reserves and unearned premium reserves as of September 15, 2014, which the parties to the LPTA have agreed will be established upon reevaluation as of December 31, 2015. CP Re will pay AII and NG Re Ltd. total premium of $56,000 on the five -year anniversary of the Stop-Loss Agreement. The premium payable by AII and NG Re Ltd. to ACP Re pursuant to the Retrocession Agreement will be $56,000 in the aggregate, less a ceding commission of 5.5% to be retained by AII and NG Re Ltd. The Stop-Loss Agreement and the Retrocession Agreement are accounted for under the deposit method of accounting. See Note 19. "Subsequent Events" elsewhere in this report for additional information on this agreement. 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. The ACP Re Credit Agreement has a maturity date of September 15, 2021 . Outstanding borrowings under the ACP Re Credit Agreement bear 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 include an annual fee equal to $30 , plus reimbursement of costs, expenses and certain other charges. The obligations of the Borrowers are 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 have the right to prepay the amounts borrowed, in whole or in part. The Borrowers are 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 are 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 must be applied by the Borrowers as a prepayment of principal under the ACP Re Credit Agreement. The ACP Re Credit Agreement contains 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 are also financial covenants that require ACP Re to maintain minimum current assets, a maximum leverage ratio, and a minimum fixed charge coverage ratio. If ACP Re fails to comply with the leverage ratio or fixed charge coverage ratio covenants as of any measurement date, the Borrowers may cure such breach by making a capital contribution to ACP Re sufficient to bring the Borrowers into compliance. The ACP Re Credit Agreement also provides 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, will 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 June 30, 2016 and December 31, 2015 , the Company recorded $129,375 and $129,375 , respectively, of loan and related interest receivable as a component of other assets on the consolidated balance sheet. The Company recorded total interest income of approximately $2,187 and $2,211 for the three months ended June 30, 2016 and 2015, respectively, and $4,375 and $4,399 during the six months ended June 30, 2016 and 2015, respectively, under the ACP Re Credit Agreement. See Note 19. "Subsequent Events" elsewhere in this report for additional information on this agreement. 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 $356 and $483 of rent during the three months ended June 30, 2016 and 2015, respectively, and $738 and $948 during the six months ended June 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 $65 and $195 during the three months ended June 30, 2016 and 2015, respectively, and $197 and $270 during the six months ended June 30, 2016 and 2015, respectively, for the leased office space. The Company 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 immaterial during the three and six months ended June 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 $172 and $445 of income from this investment during the three and six months ended June 30, 2016 and $223 during the three and six months ended June 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 in Illinois Center, while ACP Re has a 15.0% limited partnership interest. NA Advisors holds a 10% general partnership interest and a 10% profit interest, which NA Advisors pays to the unrelated third party manager. Illinois Center 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 $1,154 and $1,747 of income from this investment during the three and six months ended June 30, 2016 . These limited partnerships are considered variable interest entities ("VIEs"). Based on current accounting guidance, the Company is required to consolidate any VIEs in which it is deemed to be the primary beneficiary through having: (i) power over the significant activities of the entity, and (ii) having an obligation to absorb losses or the right to receive benefits from the VIE that are potentially significant to the VIE. The Company performed a primary beneficiary analysis on the aforementioned limited partnerships and determined the Company was not the primary beneficiary since it does not have power over the significant activities of the entity. These limited partnerships are recorded as a component of other investments on the consolidated balance sheet. The carrying value of these limited partnerships, in aggregate, was $68,186 and $64,869 as of June 30, 2016 and December 31, 2015 , respectively. The maximum exposure to loss, which is the estimated loss that would be incurred under severe, hypothetical circumstances, for which the possibility of occurrence is remote, such as where the value of the Company's interests declines to zero, without any consideration of recovery or offset from any economic hedges, was $68,186 and $64,869 as of June 30, 2016 and December 31, 2015 , respectively. The maximum exposure to loss is a required disclosure under US GAAP and is not an indication of exp

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Acquisitions	Acquisitions 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 55,424 Total assets $ 312,470 Liabilities Loss and loss adjustment expense reserves $ 78,909 Unearned premiums 24,782 Accrued expenses and other liabilities 29,196 Total liabilities $ 132,887 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 $9,495 of gross written premium during the three months ended June 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. First Nationwide's results of operations were immaterial for the three and six month periods ended June 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 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 $4,300 of gross written premium during the three and six months ended June 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 8. Debt". The deferred payments will be made in nineteen quarterly installments of $800 beginning three months after the acquisition date. 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 625,023 Deferred tax assets 41,743 Other assets 220,004 Property and equipment 435 Goodwill and intangible assets 128,714 Total assets $ 1,727,221 Liabilities Loss and loss adjustment expense reserves $ 885,898 Unearned premiums 301,972 Trust Preferred Outstanding 93,106 Accrued expenses and other liabilities 130,221 Funds held under reinsurance treaties 83,331 Total liabilities $ 1,494,528 Acquisition price $ 232,693 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 $153,126 of gross written premium and $1,544 of services and fee income during the three months ended June 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 $12,227 and $25,610 of gross written premium during the three and six months ended June 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 initially 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 and intangible assets 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 and intangible assets associated with the acquisition were initially measured at $4,253 and are not expected to be 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 goodwill and intangible assets 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 $1,760 and $4,878 of gross written premium for the three and six months ended June 30, 2016 and $428 and $842 of service and fee income during the three and six months ended June 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 preliminary 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 22,466 Deferred tax asset 50,399 Goodwill and Intangible assets 84,215 Total assets $ 426,872 Liabilities Loss and loss expense reserves $ 3,013 Unearned premiums 182,441 Accrued expenses and other liabilities 85,171 Total liabilities $ 270,625 Acquisition price $ 156,247 The goodwill and intangible assets associated with the acquisition were initially measured at $84,215 , which initially included customer relationships and licenses. The goodwill associated with the acquisition is 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 goodwill and intangible assets, as well as Warranty Solutions' results of operations, are included as a component of the Special Risk and Extended Warranty segment. As a result of this acquisition, during the three months ended June 30, 2016, the Company recorded approximately $22,290 of gross written premium and $20,615 of service and fee income, and for the six months ended June 30, 2016, the Company recorded approximately $46,008 of gross written premium and $44,934 of service and fee income. 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 six months ended June 30, 2016 , the Company (recovered) paid losses of approximately $(1,060) and $9,440 , respectively. During the three and six months ended June 30, 2016 , the Company did not record any gains or losses as a result of this transaction. Additionally, one of our 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 $12,000 during the three and six months ended June 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	6 Months Ended
	Jun. 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 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)	6 Months Ended
	Jun. 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. Stockholders' Equity The following table summarizes the ownership components of total stockholders' equity: Six Months Ended June 30, 2016 2015 AmTrust Non-Controlling Interest Total AmTrust Non-Controlling Interest Total (Amounts in Thousands) (As restated) (As restated) (As restated) (As restated) Balance, December 31, $ 2,723,780 $ 176,455 $ 2,900,235 $ 1,912,213 $ 159,181 $ 2,071,394 Net income 231,501 9,493 240,994 193,311 4,771 198,082 Unrealized holding gain (loss) 191,347 — 191,347 (52,106 ) — (52,106 ) Reclassification adjustment (8,045 ) — (8,045 ) (1,205 ) — (1,205 ) Foreign currency translation (80,007 ) — (80,007 ) (26,862 ) 14 (26,848 ) Unrealized gain on interest rate swap 287 — 287 190 — 190 Extinguishment of 2021 senior notes, equity component — — — (3,345 ) — (3,345 ) Share exercises, compensation and other 4,421 — 4,421 8,455 — 8,455 Common share (purchase) issuance, net (103,164 ) — (103,164 ) 171,672 — 171,672 Common share dividends (52,189 ) (10,229 ) (62,418 ) (41,249 ) — (41,249 ) Preferred stock issuance, net of fees 139,070 — 139,070 176,529 — 176,529 Preferred stock dividends (20,367 ) — (20,367 ) (14,008 ) — (14,008 ) Capital contribution (distribution), net — 5,500 5,500 — (1,478 ) (1,478 ) Balance, June 30, $ 3,026,634 $ 181,219 $ 3,207,853 $ 2,323,595 $ 162,488 $ 2,486,083 During the six months ended June 30, 2016 , net income attributable to non-controlling interest was $9,493 and net income attributable to redeemable non-controlling interest was $341 . Net income for AmTrust, Non-controlling interest and Redeemable non-controlling interest totaled $9,834 for the six months ended June 30, 2016 . During the six months ended June 30, 2015 , net income attributable to non-controlling interest was $4,771 and net income attributable to redeemable non-controlling interest was $658 . Net income for AmTrust, Non-controlling interest and Redeemable non-controlling interest totaled $5,429 for the six months ended June 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, March 31, 2016 (As restated) $ (145,268 ) $ 48,035 $ (581 ) $ (107 ) $ (97,921 ) Other comprehensive income (loss) before reclassification (32,809 ) 158,930 258 — 126,379 Amounts reclassed from accumulated other comprehensive income — (3,920 ) — — (3,920 ) Income tax benefit (expense) — (54,254 ) (90 ) — (54,344 ) Net current-period other comprehensive (loss) income (32,809 ) 100,756 168 — 68,115 Balance, June 30, 2016 (As restated) $ (178,077 ) $ 148,791 $ (413 ) $ (107 ) $ (29,806 ) Balance, March 31, 2015 (As restated) $ (66,349 ) $ 81,290 $ (1,294 ) $ (2,793 ) $ 10,854 Other comprehensive income before reclassification 30,665 (92,766 ) 251 — (61,850 ) Amounts reclassed from accumulated other comprehensive income — (1,216 ) — — (1,216 ) Income tax benefit (expense) — 32,894 (88 ) — 32,806 Net current-period other comprehensive income 30,665 (61,088 ) 163 — (30,260 ) Balance, June 30, 2015 (As restated) $ (35,684 ) $ 20,202 $ (1,131 ) $ (2,793 ) $ (19,406 ) (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 (as restated) $ (98,074 ) $ (34,511 ) $ (700 ) $ (107 ) $ (133,392 ) Other comprehensive income (loss) before reclassification (80,003 ) 286,588 441 — 207,026 Amounts reclassed from accumulated other comprehensive income — (4,578 ) — — (4,578 ) Income tax benefit (expense) — (98,708 ) (154 ) — (98,862 ) Net current-period other comprehensive income (loss) (80,003 ) 183,302 287 — 103,586 Balance, June 30, 2016 (As restated) $ (178,077 ) $ 148,791 $ (413 ) $ (107 ) $ (29,806 ) Balance, December 31, 2014 (As restated) $ (8,822 ) $ 73,513 $ (1,321 ) $ (2,793 ) $ 60,577 Other comprehensive income before reclassification (26,862 ) (80,163 ) 292 — (106,733 ) Amounts reclassed from accumulated other comprehensive income — (1,854 ) — — (1,854 ) Income tax benefit (expense) — 28,706 (102 ) — 28,604 Net current-period other comprehensive (loss) income (26,862 ) (53,311 ) 190 — (79,983 ) Balance, June 30, 2015 (As restated) $ (35,684 ) $ 20,202 $ (1,131 ) $ (2,793 ) $ (19,406 )

Commitment and Contingent Liabi

Commitment and Contingent Liabilities	6 Months Ended
	Jun. 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 $218,700 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 expects to fund the transaction with existing working capital, and, pending regulatory approval, to close the transaction during the second half of 2016.

Segments

Segments	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segments	Segments The Company currently 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 six months ended June 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 six months ended June 30, 2016 and 2015 : (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Three Months Ended June 30, 2016: Gross written premium $ 1,060,558 $ 651,561 $ 360,993 $ — $ 2,073,112 Net written premium 601,638 447,061 219,737 — 1,268,436 Change in unearned premium (28,660 ) (89,177 ) 31,153 — (86,684 ) Net earned premium 572,978 357,884 250,890 — 1,181,752 Loss and loss adjustment expense (382,950 ) (231,328 ) (170,115 ) — (784,393 ) Acquisition costs and other underwriting expenses (As restated) (150,149 ) (78,773 ) (65,555 ) — (294,477 ) (533,099 ) (310,101 ) (235,670 ) — (1,078,870 ) Underwriting income (As restated) 39,879 47,783 15,220 — 102,882 Service and fee income (As restated) 25,745 69,155 1,228 28,178 124,306 Investment income and realized gain 28,193 19,506 18,211 (66 ) 65,844 Other expenses (As restated) (34,321 ) (21,154 ) (11,697 ) (67,172 ) (134,344 ) Interest expense (As restated) (9,180 ) (5,612 ) (3,120 ) — (17,912 ) Foreign currency loss (As restated) — (28,995 ) — — (28,995 ) Gain on life settlement contracts 6,507 3,961 2,208 — 12,676 Acquisition gain (reduction) on purchase (9,223 ) 48,320 — — 39,097 Provision for income taxes (As restated) (6,256 ) (19,030 ) (3,184 ) 4,663 (23,807 ) Equity in earnings of unconsolidated subsidiary – related party — — — 4,802 4,802 Net income (As restated) $ 41,344 $ 113,934 $ 18,866 $ (29,595 ) $ 144,549 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Three Months Ended June 30, 2015: Gross written premium $ 875,828 $ 479,863 $ 322,697 $ — $ 1,678,388 Net written premium 517,392 306,784 184,545 — 1,008,721 Change in unearned premium (34,333 ) (22,816 ) 17,398 — (39,751 ) Net earned premium 483,059 283,968 201,943 — 968,970 Loss and loss adjustment expense (314,344 ) (185,345 ) (138,786 ) — (638,475 ) Acquisition costs and other underwriting expenses (As restated) (129,217 ) (58,442 ) (58,513 ) — (246,172 ) (443,561 ) (243,787 ) (197,299 ) — (884,647 ) Underwriting income (As restated) 39,498 40,181 4,644 — 84,323 Service and fee income (As restated) 25,042 50,193 32 20,893 96,160 Investment income and realized gain 15,604 11,807 6,216 14 33,641 Other expenses (As restated) (26,387 ) (14,446 ) (9,735 ) (50,568 ) (101,136 ) Interest expense and loss on extinguishment of debt (As restated) (5,989 ) (3,314 ) (2,169 ) — (11,472 ) Foreign currency loss (As restated) — (61,852 ) — — (61,852 ) Gain on life settlement contracts 1,619 942 535 — 3,096 (Provision) benefit for income taxes (As restated) (1,077 ) 7,997 1,116 933 8,969 Equity in earnings of unconsolidated subsidiary – related party — — — 4,042 4,042 Net income $ 48,310 $ 31,508 $ 639 $ (24,686 ) $ 55,771 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Six Months Ended June 30, 2016: Gross written premium $ 2,126,690 $ 1,181,007 $ 698,489 $ — $ 4,006,186 Net written premium 1,226,166 784,894 478,055 — 2,489,115 Change in unearned premium (149,094 ) (105,169 ) 21,182 — (233,081 ) Net earned premium 1,077,072 679,725 499,237 — 2,256,034 Loss and loss adjustment expense (715,634 ) (442,264 ) (341,568 ) — (1,499,466 ) Acquisition costs and other underwriting expenses (As restated) (283,681 ) (151,624 ) (131,640 ) — (566,945 ) (999,315 ) (593,888 ) (473,208 ) — (2,066,411 ) Underwriting income (As restated) 77,757 85,837 26,029 — 189,623 Service and fee income (As restated) 58,282 143,539 1,517 49,773 253,111 Investment income and realized gain 55,047 38,676 29,511 — 123,234 Other expenses (As restated) (69,968 ) (38,856 ) (22,981 ) (131,806 ) (263,611 ) Interest expense (As restated) (17,935 ) (9,960 ) (5,891 ) — (33,786 ) Foreign currency loss (As restated) — (67,228 ) — — (67,228 ) Gain on life settlement contracts 12,425 6,900 4,081 — 23,406 Acquisition gain on purchase 455 48,320 — — 48,775 (Provision) benefit for income taxes (As restated) (17,471 ) (31,195 ) (4,857 ) 10,756 (42,767 ) Equity in earnings of unconsolidated subsidiary – related party — — — 10,578 10,578 Net income (As restated) $ 98,592 $ 176,033 $ 27,409 $ (60,699 ) $ 241,335 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Six Months Ended June 30, 2015: Gross written premium $ 1,776,947 $ 950,733 $ 681,844 $ — $ 3,409,524 Net written premium 1,040,632 594,473 416,805 — 2,051,910 Change in unearned premium (133,582 ) 18,626 (18,607 ) — (133,563 ) Net earned premium 907,050 613,099 398,198 — 1,918,347 Loss and loss adjustment expense (588,690 ) (393,985 ) (269,083 ) — (1,251,758 ) Acquisition costs and other underwriting expenses (As restated) (239,287 ) (129,254 ) (110,412 ) — (478,953 ) (827,977 ) (523,239 ) (379,495 ) — (1,730,711 ) Underwriting income (As restated) 79,073 89,860 18,703 — 187,636 Service and fee income (As restated) 51,675 107,188 365 39,051 198,279 Investment income and realized gain 38,850 28,547 16,366 104 83,867 Other expenses (As restated) (52,663 ) (28,177 ) (20,208 ) (101,048 ) (202,096 ) Interest expense and loss on extinguishment of debt (As restated) (14,732 ) (7,882 ) (5,653 ) — (28,267 ) Foreign currency loss (As restated) — (37,195 ) — — (37,195 ) Loss on life settlement contracts 7,540 4,035 2,894 — 14,469 (Provision) benefit for income taxes (As restated) (13,350 ) (19,021 ) (1,516 ) 6,363 (27,524 ) Equity in earnings of unconsolidated subsidiary – related party — — — 9,571 9,571 Net income $ 96,393 $ 137,355 $ 10,951 $ (45,959 ) $ 198,740 The following tables summarize net earned premium by major line of business, by segment, for the three and six months ended June 30, 2016 and 2015 : (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Three Months Ended June 30, 2016: Workers' compensation $ 358,894 $ — $ 199,704 $ 558,598 Warranty — 179,169 — 179,169 Other liability — 33,305 12,800 46,105 Commercial auto and liability, physical damage 111,992 8,684 30,602 151,278 Medical malpractice — 62,733 — 62,733 Other 102,092 73,993 7,784 183,869 Total net earned premium $ 572,978 $ 357,884 $ 250,890 $ 1,181,752 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Three Months Ended June 30, 2015: Workers' compensation $ 322,703 $ — $ 86,344 $ 409,047 Warranty — 144,316 — 144,316 Other liability 14,425 32,485 35,333 82,243 Commercial auto and liability, physical damage 67,491 8,714 34,465 110,670 Medical malpractice — 40,143 — 40,143 Other 78,440 58,310 45,801 182,551 Total net earned premium $ 483,059 $ 283,968 $ 201,943 $ 968,970 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Six Months Ended June 30, 2016: Workers' compensation $ 704,937 $ — $ 307,417 $ 1,012,354 Warranty — 347,502 — 347,502 Other liability 5,249 74,018 83,381 162,648 Commercial auto and liability, physical damage 197,896 17,176 65,745 280,817 Medical malpractice — 106,750 — 106,750 Other 168,990 134,279 42,694 345,963 Total net earned premium $ 1,077,072 $ 679,725 $ 499,237 $ 2,256,034 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Six Months Ended June 30, 2015: Workers' compensation $ 614,768 $ — $ 163,946 $ 778,714 Warranty — 295,847 — 295,847 Other liability 24,944 65,296 75,853 166,093 Commercial auto and liability, physical damage 119,411 12,154 69,698 201,263 Medical malpractice — 76,454 — 76,454 Other 147,927 163,348 88,701 399,976 Total net earned premium $ 907,050 $ 613,099 $ 398,198 $ 1,918,347 The following table summarizes total assets of the business segments as of June 30, 2016 and December 31, 2015 : (Amounts in Thousands) June 30, 2016 December 31, 2015 Small Commercial Business (As restated) $ 9,960,183 $ 7,870,360 Specialty Risk and Extended Warranty (As restated) 7,001,339 6,420,747 Specialty Program (As restated) 4,205,312 2,972,538 Corporate and Other (As restated) — 2,406 $ 21,166,834 $ 17,266,051

Subsequent Event

Subsequent Event	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event Share repurchase Subsequent to June 30, 2016 through July 27, 2016, the Company repurchased 1,689,875 shares of its common stock for approximately $41,300 under the share repurchase program approved by the Company's Board of Directors. Trust Risk Group dispute 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. Restructuring of ACP Re Credit Agreement As disclosed in the Company’s Current Report on Form 8-K filed on July 29, 2016, the Company, AII and NG Re Ltd. entered into a restatement agreement (the “Restatement Agreement”) to the ACP Re Credit Agreement described in the “Significant Transactions with ACP Re, Ltd.” subsection of Note 13. “Related Party Transactions” included elsewhere in this report. The following restated terms of the ACP Re Credit Agreement will become effective upon the approval of the Conservation Plan developed by the Commissioner of Insurance of the State of California for CNIC as successor by merger to all of the Tower Companies (the “Conservation Plan”) by the Superior Court of the State of California, which is supervising the Conservation Plan process: • The borrower will become 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 will be 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 will change from September 15, 2021 to the twentieth anniversary of the date on which the restatement becomes effective; • Interest on the outstanding principal balance of $250,000 will change from a fixed annual rate of 7% (payable in cash, semi-annually in arrears) to a fixed annual rate of 3.7% (payable in cash, semi-annually in arrears), provided that up to 1.2% thereof may be paid in kind; • Commencing on the tenth anniversary of the date on which the restatement becomes effective, and for each year thereafter, two percent of the then outstanding principal balance of the loan (inclusive of any amounts previously paid in kind) will be 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 ACP Re Holdings, LLC of greater than 50% and an uncured breach of the Maintenance Covenant are included as events of default. In addition, if the Conservation Plan is approved, the following agreements (all of which are described in the “Significant Transactions with ACP Re, Ltd.” subsection of Note 13. “Related Party Transactions” included elsewhere in this report) will be terminated: (a) the Stop-Loss Agreement, (b) the Retrocession Agreement, and (c) the CL Administrative Agreement. The hearing on the motion to approve the Conservation Plan is scheduled for September 13, 2016.

Restatement of Previously Iss27

Restatement of Previously Issued Consolidated Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2016
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The following summarizes the impact of the Restatement on our previously reported unaudited interim Consolidated Balance Sheets, Consolidated Statements of Income, Consolidated Statements of Comprehensive Income, Consolidated Statements of Stockholders' Equity and Consolidated Statements of Cash Flows for the three and six months ended June 30, 2016 and 2015: Consolidated Balance Sheet June 30, 2016 ASSETS As previously reported Adjustments As restated Reference (in thousands) Investments: Fixed maturities, available-for-sale, at fair value (amortized cost $6,617,396) $ 6,838,968 $ — $ 6,838,968 Equity securities, available-for-sale, at fair value (cost $154,536) 161,880 — 161,880 Equity securities, trading, at fair value (cost $26,232) 26,847 — 26,847 Short-term investments 127,880 (118,012 ) 9,868 9 Equity investment in unconsolidated subsidiaries – related parties 149,573 — 149,573 Other investments (related party $68,186; recorded at fair value $38,039) 129,414 — 129,414 Total investments 7,434,562 (118,012 ) 7,316,550 Cash and cash equivalents 1,009,534 118,012 1,127,546 8, 9 Restricted cash and cash equivalents 591,984 — 591,984 Accrued interest and dividends 55,940 — 55,940 Premiums receivable, net 2,562,165 146,146 2,708,311 8, 9 Reinsurance recoverable (related party $2,236,292) 3,856,087 — 3,856,087 Prepaid reinsurance premiums (related party $1,194,588) 1,924,747 — 1,924,747 Other assets (related party $205,320; recorded at fair value $304,434) 1,371,771 55,833 1,427,604 1 – 9 Deferred policy acquisition costs 873,641 (31,343 ) 842,298 3 Property and equipment, net 327,311 (10,795 ) 316,516 5, 8,9 Goodwill 603,662 — 603,662 Intangible assets 395,589 — 395,589 $ 21,006,993 $ 159,841 $ 21,166,834 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities: Loss and loss adjustment expense reserves $ 9,097,408 $ — $ 9,097,408 Unearned premiums 4,819,255 — 4,819,255 Ceded reinsurance premiums payable (related party $679,083) 843,473 — 843,473 Accrued expenses and other liabilities (related party $167,975; recorded at fair value $473,492) 1,604,413 363,892 1,968,305 1, 2, 6, 8, 9 Debt (net of debt issuance cost of $16,542) 1,229,599 — 1,229,599 Total liabilities 17,594,148 363,892 17,958,040 Commitments and contingencies Redeemable non-controlling interest 941 — 941 Stockholders’ equity: Common stock, $0.01 par value; 500,000 shares authorized, 196,455 issued; 172,432 outstanding 1,965 — 1,965 Preferred stock, $0.01 par value; 10,000 shares authorized, 5,112 issued and outstanding; aggregated liquidation preference $626,250 626,250 — 626,250 Additional paid-in capital 1,380,153 — 1,380,153 Treasury stock at cost; 24,023 shares (262,984 ) — (262,984 ) Accumulated other comprehensive loss, net of tax (31,791 ) 1,985 (29,806 ) 4 Retained earnings 1,517,092 (206,036 ) 1,311,056 1 – 8 Total AmTrust Financial Services, Inc. equity 3,230,685 (204,051 ) 3,026,634 Non-controlling interest 181,219 — 181,219 Total stockholders’ equity 3,411,904 (204,051 ) 3,207,853 $ 21,006,993 $ 159,841 $ 21,166,834 Consolidated Statements of Income Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 As previously reported Adjustments As restated As previously reported Adjustments As restated Reference (in thousands, except per share) Revenues: Premium income: Net written premium $ 1,268,436 $ — $ 1,268,436 $ 2,489,115 $ — $ 2,489,115 Change in unearned premium (86,684 ) — (86,684 ) (233,081 ) — (233,081 ) Net earned premium 1,181,752 — 1,181,752 2,256,034 — 2,256,034 Service and fee income (related parties - three months $21,608 and six months $41,771) 138,270 (13,964 ) 124,306 282,471 (29,360 ) 253,111 1, 8 Net investment income 50,745 — 50,745 100,160 — 100,160 Net realized gain on investments 15,099 — 15,099 23,074 — 23,074 Total revenues 1,385,866 (13,964 ) 1,371,902 2,661,739 (29,360 ) 2,632,379 Expenses: Loss and loss adjustment expense 784,393 — 784,393 1,499,466 — 1,499,466 Acquisition costs and other underwriting expenses (net of ceding commission - related party - three months $145,610 and six months $284,001) 298,803 (4,326 ) 294,477 563,437 3,508 566,945 2, 3, 5, 8 Other 132,970 1,374 134,344 261,156 2,455 263,611 1, 5, 7, 8 Total expenses 1,216,166 (2,952 ) 1,213,214 2,324,059 5,963 2,330,022 Income before other income (loss), provision for income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest 169,700 (11,012 ) 158,688 337,680 (35,323 ) 302,357 Other (expenses) income: Interest expense (net of interest income - related party - three months $2,187 and six months $4,375) (19,738 ) 1,826 (17,912 ) (37,438 ) 3,652 (33,786 ) 6 Gain on investment in life settlement contracts net of profit commission 12,676 — 12,676 23,406 — 23,406 Foreign currency loss (26,435 ) (2,560 ) (28,995 ) (62,108 ) (5,120 ) (67,228 ) 4, 8 Gain on acquisition 39,097 — 39,097 48,775 — 48,775 Total other income (loss) 5,600 (734 ) 4,866 (27,365 ) (1,468 ) (28,833 ) Income before provision for income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest 175,300 (11,746 ) 163,554 310,315 (36,791 ) 273,524 Provision for income taxes 27,918 (4,111 ) 23,807 55,644 (12,877 ) 42,767 1 – 8 Income before equity in earnings of unconsolidated subsidiaries 147,382 (7,635 ) 139,747 254,671 (23,914 ) 230,757 Equity in earnings of unconsolidated subsidiary – related parties 4,802 — 4,802 10,578 — 10,578 Net income $ 152,184 $ (7,635 ) $ 144,549 $ 265,249 $ (23,914 ) $ 241,335 Net income attributable to non-controlling interests and redeemable non-controlling interests of subsidiaries (5,817 ) — (5,817 ) (9,834 ) — (9,834 ) Net income attributable to AmTrust Financial Services, Inc. $ 146,367 $ (7,635 ) $ 138,732 $ 255,415 $ (23,914 ) $ 231,501 Dividends on preferred stock (11,576 ) — (11,576 ) (20,367 ) — (20,367 ) Net income attributable to AmTrust common stockholders $ 134,791 $ (7,635 ) $ 127,156 $ 235,048 $ (23,914 ) $ 211,134 Earnings per common share: Basic earnings per share $ 0.79 $ (0.06 ) $ 0.73 $ 1.36 $ (0.15 ) $ 1.21 Diluted earnings per share $ 0.78 $ (0.05 ) $ 0.73 $ 1.34 $ (0.14 ) $ 1.20 Dividends declared per common share $ 0.15 $ — $ 0.15 $ 0.30 $ — $ 0.30 Consolidated Statements of Comprehensive Income Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 As previously reported Adjustments As restated As previously reported Adjustments As restated Reference (in thousands, except per share) Net income $ 152,184 $ (7,635 ) $ 144,549 $ 265,249 $ (23,914 ) $ 241,335 Other comprehensive (loss) income, net of tax: Foreign currency translation adjustments (36,820 ) 4,011 (32,809 ) (84,665 ) 4,662 (80,003 ) 4 Change in fair value of interest rate swap 168 — 168 287 — 287 Unrealized gain on securities: Gross unrealized holding (loss) gain 168,963 1,503 170,466 293,683 4,436 298,119 8 Less tax expense 59,137 2,956 62,093 102,789 3,983 106,772 8 Net unrealized holding gain 109,826 (1,453 ) 108,373 190,894 453 191,347 Reclassification adjustment for investment loss included in net income, net of tax: Other-than-temporary impairment loss (10,537 ) — (10,537 ) (10,537 ) — (10,537 ) Other net realized loss on investments 2,920 — 2,920 2,492 — 2,492 Reclassification adjustment for investment loss included in net income (7,617 ) — (7,617 ) (8,045 ) — (8,045 ) Other comprehensive income, net of tax $ 65,557 $ 2,558 $ 68,115 $ 98,471 $ 5,115 $ 103,586 Comprehensive income 217,741 (5,077 ) 212,664 363,720 (18,799 ) 344,921 Less: Comprehensive income attributable to non-controlling and redeemable non-controlling interest 5,817 — 5,817 9,834 — 9,834 Comprehensive income attributable to AmTrust Financial Services, Inc. $ 211,924 $ (5,077 ) $ 206,847 $ 353,886 $ (18,799 ) $ 335,087 Consolidated Statement of Stockholders' Equity As of June 30, 2016 As previously reported Adjustments As restated Reference (in thousands) Common stock $ 1,965 $ — $ 1,965 Preferred stock 626,250 — 626,250 Additional paid-in capital 1,380,153 — 1,380,153 Treasury stock (262,984 ) — (262,984 ) Accumulated other comprehensive income (loss) (31,791 ) 1,986 (29,805 ) 4, 8 Retained earnings 1,517,092 (206,037 ) 1,311,055 1 – 8 $ 3,230,685 $ (204,051 ) $ 3,026,634 Consolidated Statements of Cash Flows Six Months Ended June 30, 2016 As previously reported Adjustments As restated Reference (in thousands) Cash flows from operating activities: Net income $ 265,249 $ (23,914 ) $ 241,335 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 54,842 5,023 59,865 5 Net amortization of bond premium or discount 9,707 — 9,707 Equity earnings on investment in unconsolidated subsidiaries (10,578 ) — (10,578 ) Gain on investment in life settlement contracts, net (23,406 ) — (23,406 ) Net realized gain on investments (40,030 ) — (40,030 ) Non-cash write-down of investments 16,956 — 16,956 Discount on notes payable 2,910 — 2,910 Stock based compensation 11,542 — 11,542 Bad debt expense 8,241 — 8,241 Foreign currency loss 62,108 5,120 67,228 4, 8 Gain on acquisition (48,775 ) — (48,775 ) Changes in assets – (increase) decrease: Premiums receivable (350,748 ) (25,846 ) (376,594 ) 8, 9 Reinsurance recoverable (172,948 ) (1,293 ) (174,241 ) 8 Deferred policy acquisition costs (125,499 ) 20,740 (104,759 ) 3 Prepaid reinsurance premiums (392,881 ) (392,881 ) Other assets 186,005 19,426 205,431 1 – 9 Changes in liabilities – increase (decrease): Ceded reinsurance premium payable 185,275 — 185,275 Loss and loss expense adjustment reserves 780,599 — 780,599 Unearned premiums 382,794 341 383,135 8 Funds held under reinsurance treaties (28,041 ) — (28,041 ) Accrued expenses and other liabilities (154,560 ) 30,390 (124,170 ) 1, 2, 6, 8, 9 Net cash provided by operating activities 618,762 29,987 648,749 Cash flows from investing activities: Purchases of fixed maturities, available-for-sale (1,299,160 ) 198,406 (1,100,754 ) 4 Purchases of equity securities, available-for-sale (111,284 ) 90,860 (20,424 ) 4 Purchases of equity securities, trading (100,101 ) 14 (100,087 ) 4 Purchases of other investments (18,509 ) 7,164 (11,345 ) 8 Sales, maturities, paydowns of fixed maturities, available-for-sale 910,939 (211,635 ) 699,304 4 Sales of equity securities, available-for-sale 89,348 (77,651 ) 11,697 4 Sales of equity securities, trading 102,261 6 102,267 4 Sales of other investments 1,242 — 1,242 Net (purchases) of short term investments (43,614 ) 50,917 7,303 9 Net (purchases) of securities sold but not purchased (17,448 ) — (17,448 ) Receipt of life settlement contract proceeds 8,058 — 8,058 Acquisition of subsidiaries, net of cash obtained (118,607 ) — (118,607 ) Decrease in restricted cash and cash equivalents, net (211,285 ) — (211,285 ) Purchase of property and equipment (65,538 ) (18,556 ) (84,094 ) 5 Net cash used in investing activities (873,698 ) 39,525 (834,173 ) Consolidated Statements of Cash Flows Six Months Ended June 30, 2016 As previously reported Adjustments As restated Reference (in thousands) Cash flows from financing activities: Repurchase agreements, net 366,860 — 366,860 Secured loan agreement borrowings 39,361 — 39,361 Secured loan agreement payments (3,569 ) — (3,569 ) Common stock issuance 276 — 276 Common stock repurchase (103,509 ) — (103,509 ) Preferred stock issuance 139,070 — 139,070 Contingent consideration payments — (23,446 ) (23,446 ) 6 Non-controlling interest capital contributions to (5,301 ) — (5,301 ) Stock option exercise and other (7,084 ) — (7,084 ) Dividends distributed on common stock (52,624 ) — (52,624 ) Dividends distributed on preferred stock (20,367 ) — (20,367 ) Net cash provided by financing activities 353,113 (23,446 ) 329,667 Effect of exchange rate changes on cash (20,613 ) — (20,613 ) Net increase in cash and cash equivalents 77,564 46,066 123,630 Cash and cash equivalents, beginning of year 931,970 71,946 1,003,916 1, 2, 4 – 9 Cash and cash equivalents, end of period $ 1,009,534 $ 118,012 $ 1,127,546 Supplemental Cash Flow Information Interest payments on debt $ 28,902 — $ 28,902 Income tax payments 22,575 — 22,575 Declared dividends on common stock 52,189 — 52,189 Consolidated Balance Sheet June 30, 2015 ASSETS As previously reported Adjustments As restated Reference (in thousands) Investments: Fixed maturities, available-for-sale, at fair value (amortized cost $4,814,001) $ 4,842,644 $ — $ 4,842,644 Equity securities, available-for-sale, at fair value (cost $99,595) 103,093 — 103,093 Equity securities, trading, at fair value (cost $29,668) 30,652 — 30,652 Short-term investments 41,707 (23,997 ) 17,710 9 Equity investment in unconsolidated subsidiaries – related parties 126,919 — 126,919 Other investments (related party $9,923; recorded at fair value $14,759) 45,572 — 45,572 Securities pledged, at fair value (amortized cost of $51,862) 50,801 — 50,801 Total investments 5,241,388 (23,997 ) 5,217,391 Cash and cash equivalents 845,972 23,997 869,969 8, 9 Restricted cash and cash equivalents 248,940 — 248,940 Accrued interest and dividends 38,167 — 38,167 Premiums receivable, net 2,376,818 108,421 2,485,239 8, 9 Reinsurance recoverable (related party $1,824,707) 2,799,007 — 2,799,007 Prepaid reinsurance premium (related party $1,136,562) 1,583,560 — 1,583,560 Other assets (related party $169,615; recorded at fair value $267,393) 1,190,777 (3,618 ) 1,187,159 1,5,8,9 Deferred policy acquisition costs 695,150 (5,301 ) 689,849 3 Property and equipment, net 180,822 (8,684 ) 172,138 5, 8 Goodwill 422,357 — 422,357 Intangible assets 330,871 — 330,871 $ 15,953,829 $ 90,818 $ 16,044,647 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities: Loss and loss adjustment expense reserves $ 6,380,845 $ — $ 6,380,845 Unearned premiums 3,868,747 — 3,868,747 Ceded reinsurance premiums payable (related party $535,843) 831,665 — 831,665 Accrued expenses and other liabilities (related party $167,975; recorded at fair value $127,684) 1,289,511 237,080 1,526,591 1, 2, 6, 8, 9 Deferred income taxes 35,257 — 35,257 Debt (net of debt issuance cost of $13,122) 914,482 — 914,482 Total liabilities 13,320,507 237,080 13,557,587 Commitments and contingencies Redeemable non-controlling interest 977 — 977 Stockholders’ equity: Common stock, $0.01 par value; 300,000 shares authorized, 196,442 issued; 165,274 outstanding 1,964 — 1,964 Preferred stock, $0.01 par value; 10,000 shares authorized, 4,968 issued and outstanding; aggregated liquidation preference $482,500 482,500 — 482,500 Additional paid-in capital 1,117,249 — 1,117,249 Treasury stock at cost; 15,584 shares (222,240 ) — (222,240 ) Accumulated other comprehensive loss (48,545 ) 29,139 (19,406 ) 4 Retained earnings 1,138,929 (175,401 ) 963,528 1, 2, 4, 5, 8 Total AmTrust Financial Services, Inc. equity 2,469,857 (146,262 ) 2,323,595 Non-controlling interest 162,488 — 162,488 Total stockholders’ equity 2,632,345 (146,262 ) 2,486,083 $ 15,953,829 $ 90,818 $ 16,044,647 Consolidated Statements of Income Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 As previously reported Adjustments As restated As previously reported Adjustments As restated Reference (in thousands, except share data) Revenues: Premium income: Net written premium $ 1,008,721 $ — $ 1,008,721 $ 2,051,910 $ — $ 2,051,910 Change in unearned premium (39,751 ) — (39,751 ) (133,563 ) — (133,563 ) Net earned premium 968,970 968,970 1,918,347 — 1,918,347 Service and fee income (related parties - three months $21,281 and six months $38,685) 107,737 (11,577 ) 96,160 220,623 (22,344 ) 198,279 1 Net investment income 36,283 — 36,283 70,856 — 70,856 Net realized gain on investments (2,642 ) — (2,642 ) 13,011 — 13,011 Total revenues 1,110,348 (11,577 ) 1,098,771 2,222,837 (22,344 ) 2,200,493 Expenses: Loss and loss adjustment expense 638,475 — 638,475 1,251,758 — 1,251,758 Acquisition costs and other underwriting expenses (net of ceding commission - related party - three months $129,222 and six months $247,909) 238,710 7,462 246,172 470,386 8,567 478,953 2, 3, 5, 8 Other 98,130 3,006 101,136 196,587 5,509 202,096 1, 5, 7, 8 Total expenses 975,315 10,468 985,783 1,918,731 14,076 1,932,807 Income before other (expense) income, provision for income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest 135,033 (22,045 ) 112,988 304,106 (36,420 ) 267,686 Other (expenses) income: Interest expense (net of interest income - related party - three months $2,211 and six months $$4,399) (9,646 ) (1,826 ) (11,472 ) (19,901 ) (3,652 ) (23,553 ) 6 Loss on extinguishment of debt — — — (4,714 ) — (4,714 ) Gain on investment in life settlement contracts net of profit commission 3,096 — 3,096 14,469 — 14,469 Foreign currency loss (47,320 ) (14,532 ) (61,852 ) (7,366 ) (29,829 ) (37,195 ) 4, 8 Total other (expenses) income (53,870 ) (16,358 ) (70,228 ) (17,512 ) (33,481 ) (50,993 ) Income before provision for income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest 81,163 (38,403 ) 42,760 286,594 (69,901 ) 216,693 Provision for income taxes 4,472 (13,441 ) (8,969 ) 51,284 (23,760 ) 27,524 1, 2, 3, 4, 5, 6, 8 Income before equity in earnings of unconsolidated subsidiaries 76,691 (24,962 ) 51,729 235,310 (46,141 ) 189,169 Equity in earnings of unconsolidated subsidiary – related parties 4,042 — 4,042 9,571 — 9,571 Net income $ 80,733 $ (24,962 ) $ 55,771 $ 244,881 $ (46,141 ) $ 198,740 Net income attributable to non-controlling interests and redeemable non-controlling interests of subsidiaries (1,346 ) — (1,346 ) (5,429 ) — (5,429 ) Net income attributable to AmTrust Financial Services, Inc. $ 79,387 $ (24,962 ) $ 54,425 $ 239,452 $ (46,141 ) $ 193,311 Dividends on preferred stock (8,639 ) — (8,639 ) (14,008 ) — (14,008 ) Net income attributable to AmTrust common stockholders $ 70,748 $ (24,962 ) $ 45,786 $ 225,444 $ (46,141 ) $ 179,303 Earnings per common share: Basic earnings per share $ 0.43 $ (0.15 ) $ 0.28 $ 1.38 $ (0.29 ) $ 1.09 Diluted earnings per share $ 0.42 $ (0.15 ) $ 0.27 $ 1.35 $ (0.28 ) $ 1.07 Dividends declared per common share $ 0.125 $ — $ 0.125 $ 0.25 $ — $ 0.25 Consolidated Statements of Comprehensive Income Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 As previously reported Adjustments As Restated As previously reported Adjustments As Restated Reference (in thousands, except per share) Net income $ 80,733 $ (24,962 ) $ 55,771 $ 244,881 $ (46,141 ) $ 198,740 Other comprehensive loss, net of tax: 0 0 Foreign currency translation adjustments 14,021 16,644 30,665 (51,332 ) 24,470 (26,862 ) 4 Change in fair value of interest rate swap 163 — 163 190 — 190 Unrealized loss on securities: Gross unrealized holding loss (91,679 ) (1,087 ) (92,766 ) (80,494 ) 331 (80,163 ) 8 Less: tax benefit (32,088 ) (380 ) (32,468 ) (28,173 ) 116 (28,057 ) 8 Net unrealized holding loss (59,591 ) (707 ) (60,298 ) (52,321 ) 215 (52,106 ) Reclassification adjustment for investment loss included in net income, net of tax: Other-than-temporary impairment loss — — — — — — Other net realized loss on investments (790 ) — (790 ) (1,205 ) — (1,205 ) Reclassification adjustment for investment loss included in net income (790 ) — (790 ) (1,205 ) — (1,205 ) Other comprehensive loss, net of tax $ (46,197 ) $ 15,937 $ (30,260 ) $ (104,668 ) $ 24,685 $ (79,983 ) Comprehensive income 34,536 (9,025 ) 25,511 140,213 (21,456 ) 118,757 Less: Comprehensive income attributable to non-controlling and redeemable non-controlling interest 1,346 — 1,346 5,429 — 5,429 Comprehensive income attributable to AmTrust Financial Services, Inc. $ 33,190 $ (9,025 ) $ 24,165 $ 134,784 $ (21,456 ) $ 113,328 Consolidated Statement of Stockholders' Equity As of June 30, 2015 As previously reported Adjustments As Restated Reference (in thousands) Common stock $ 1,964 $ — $ 1,964 Preferred stock 482,500 — 482,500 Additional paid-in capital 1,117,249 — 1,117,249 Treasury stock (222,240 ) — (222,240 ) Accumulated other comprehensive loss (48,545 ) 29,139 (19,406 ) 4, 8 Retained earnings 1,138,929 (175,401 ) 963,528 1, 2, 4, 5, 8 $ 2,469,857 $ (146,262 ) $ 2,323,595 Consolidated Statement of Cash Flows Six Months Ended June 30, 2015 As previously reported Adjustments As restated Reference (in thousands) Cash flows from operating activities: Net income $ 244,881 $ (46,141 ) $ 198,740 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 38,519 1,791 40,310 5 Net amortization of bond premium or discount 6,537 — 6,537 Equity earnings on investment in unconsolidated subsidiaries (9,571 ) — (9,571 ) Gain on investment in life settlement contracts, net (14,469 ) — (14,469 ) Net realized gain on investments (15,493 ) — (15,493 ) Non-cash write-down of investments 2,482 — 2,482 Discount on notes payable 2,769 — 2,769 Stock based compensation 10,436 — 10,436 Loss on extinguishment of debt 4,714 — 4,714 Bad debt expense 7,724 — 7,724 Foreign currency loss 7,366 29,829 37,195 4 Changes in assets – (increase) decrease: Premiums receivable (536,715 ) (68,097 ) (604,812 ) 8, 9 Reinsurance recoverable (355,989 ) 95 (355,894 ) 8 Deferred policy acquisition costs (66,026 ) 6,180 (59,846 ) 3 Prepaid reinsurance premiums (280,712 ) — (280,712 ) Other assets (124,061 ) 11,751 (112,310 ) 1, 8, 9 Changes in liabilities – increase (decrease): Ceded reinsurance premium payable 155,340 — 155,340 Loss and loss adjustment expense reserves 664,495 — 664,495 Unearned premiums 394,994 (2,332 ) 392,662 8 Funds held under reinsurance treaties 13,525 — 13,525 Accrued expenses and other current liabilities 15,883 95,732 111,615 1, 2, 6, 8, 9 Net cash provided by operating activities 166,629 28,808 195,437 Cash flows from investing activities: Purchases of fixed maturities, available-for-sale (1,168,051 ) — (1,168,051 ) Purchases of equity securities, available-for-sale (14,923 ) — (14,923 ) Purchases of equity securities, trading (109,555 ) — (109,555 ) Purchases of other investments (27,234 ) 8,366 (18,868 ) 8 Sales, maturities, paydowns of fixed maturities, available-for-sale 560,386 (3,275 ) 557,111 9 Sales of equity securities, available-for-sale 12,184 — 12,184 Sales of equity securities, trading 108,325 — 108,325 Sales of other investments 13,337 — 13,337 Net sales of short term investments 42,501 23,997 66,498 9 Net sale of securities sold but not purchased 15,456 — 15,456 Receipt of life settlement contract proceeds 81,014 — 81,014 Acquisition of subsidiaries, net of cash obtained (121,401 ) — (121,401 ) Increase in restricted cash and cash equivalents, net (62,715 ) — (62,715 ) Purchase of property and equipment (44,386 ) (2,174 ) (46,560 ) 5 Net cash used in investing activities (715,062 ) 26,914 (688,148 ) Cash flows from financing activities: Revolving credit facility borrowings 430,000 — 430,000 Revolving credit facility payments (365,000 ) — (365,000 ) Repurchase agreements, net 48,819 — 48,819 Secured loan agreement payments (3,478 ) — (3,478 ) 2055 Subordinated notes proceeds 150,000 — 150,000 Consolidated Statement of Cash Flows Six Months Ended June 30, 2015 As previously reported Adjustments As restated Reference (in thousands) Convertible senior notes payments (53,606 ) — (53,606 ) Financing fees (4,990 ) — (4,990 ) Common stock issuance 171,672 — 171,672 Preferred stock issuance 176,529 — 176,529 Contingent consideration payments — (9,874 ) (9,874 ) 6 Non-controlling interest capital contributions to consolidated subsidiaries, net (41 ) — (41 ) Stock option exercise and other (1,982 ) — (1,982 ) Dividends distributed on common stock (39,901 ) — (39,901 ) Dividends distributed on preferred stock (14,008 ) — (14,008 ) Net cash provided by financing activities 494,014 (9,874 ) 484,140 Effect of exchange rate changes on cash (2,359 ) — (2,359 ) Net increase in cash and cash equivalents (56,778 ) 45,848 (10,930 ) Cash and cash equivalents, beginning year 902,750 (21,851 ) 880,899 1, 2, 4 – 9 Cash and cash equivalents, end of period $ 845,972 $ 23,997 $ 869,969 Supplemental Cash Flow Information Income tax payments $ 226,278 $ — $ 226,278 Interest payments on debt 18,245 — 18,245 Declared dividends on common stock 41,187 — 41,187

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 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 June 30, 2016 and December 31, 2015 , are presented below: (Amounts in Thousands) Original or amortized cost Gross unrealized gains Gross unrealized losses Fair Value Preferred stock $ 3,629 $ — $ (33 ) $ 3,596 Common stock 150,907 14,895 (7,518 ) 158,284 U.S. treasury securities 272,547 4,778 (1 ) 277,324 U.S. government agencies 9,541 207 — 9,748 Municipal bonds 838,930 40,406 (1,151 ) 878,185 Foreign government 122,470 8,314 (503 ) 130,281 Corporate bonds: Finance 1,389,171 60,930 (18,270 ) 1,431,831 Industrial 2,051,346 113,173 (25,306 ) 2,139,213 Utilities 183,995 7,155 (4,749 ) 186,401 Commercial mortgage backed securities 186,920 5,898 (1,731 ) 191,087 Residential mortgage backed securities: Agency backed 1,117,536 37,748 (254 ) 1,155,030 Non-agency backed 51,932 1,495 (276 ) 53,151 Collateralized loan / debt obligations 367,228 2,968 (9,122 ) 361,074 Asset-backed securities 25,780 59 (196 ) 25,643 $ 6,771,932 $ 298,026 $ (69,110 ) $ 7,000,848 (Amounts in Thousands) Original 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 gain and loss of trading securities as of June 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 $ 26,232 $ 1,215 $ (600 ) $ 26,847 (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 June 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. June 30, 2016 December 31, 2015 (Amounts in Thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 216,852 $ 217,214 $ 125,563 $ 124,763 Due after one through five years 1,508,569 1,543,107 913,365 909,634 Due after five through ten years 2,753,851 2,883,670 2,586,061 2,537,734 Due after ten years 388,727 408,992 352,397 357,288 Mortgage and asset backed securities 1,749,397 1,785,986 1,504,656 1,504,378 Total fixed maturities $ 6,617,396 $ 6,838,969 $ 5,482,042 $ 5,433,797
Net Investment Income	Net investment income for the three and six months ended June 30, 2016 and 2015 was derived from the following sources: Three Months Ended June 30, Six Months Ended June 30, (Amounts in Thousands) 2016 2015 2016 2015 Fixed maturities, available-for-sale $ 46,235 $ 35,199 $ 92,428 $ 67,952 Equity securities, available-for-sale 4,098 661 6,462 1,070 Equity securities, trading (125 ) 32 (278 ) 40 Cash and short term investments 686 923 1,772 2,588 50,894 36,815 100,384 71,650 Investment expenses (149 ) (532 ) (224 ) (794 ) $ 50,745 $ 36,283 $ 100,160 $ 70,856
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 are presented below: Three Months Ended June 30, Six Months Ended June 30, (Amounts in Thousands) 2016 2015 2016 2015 Equity securities recognized in earnings $ 16,956 $ 176 $ 16,956 $ 1,192 Fixed-maturity securities recognized in earnings — 1,290 — 1,290 $ 16,956 $ 1,466 $ 16,956 $ 2,482
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 June 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 $ 19,282 $ (6,740 ) 68 $ 1,490 $ (812 ) 28 $ 20,772 $ (7,552 ) U.S. treasury securities 960 (1 ) 5 651 — 1 1,611 (1 ) Municipal bonds 48,738 (456 ) 36 15,391 (694 ) 29 64,129 (1,150 ) Foreign government 13,405 (503 ) 10 — — — 13,405 (503 ) Corporate bonds: Finance 161,268 (17,068 ) 109 42,783 (1,201 ) 32 204,051 (18,269 ) Industrial 191,697 (20,201 ) 162 119,185 (5,105 ) 61 310,882 (25,306 ) Utilities 10,658 (1,702 ) 17 20,747 (3,047 ) 10 31,405 (4,749 ) Commercial mortgage backed securities 39,385 (547 ) 16 47,712 (1,184 ) 60 87,097 (1,731 ) Residential mortgage backed securities: Agency backed 4,028 (13 ) 28 26,573 (241 ) 34 30,601 (254 ) Non-agency backed 18,001 (207 ) 16 3,521 (70 ) 5 21,522 (277 ) Collateralized loan / debt obligations 157,122 (6,105 ) 61 58,079 (3,018 ) 24 215,201 (9,123 ) Asset-backed securities 16,188 (187 ) 23 1,041 (8 ) 8 17,229 (195 ) Total temporarily impaired securities $ 680,732 $ (53,730 ) 551 $ 337,173 $ (15,380 ) 292 $ 1,017,905 $ (69,110 ) 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 June 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 $ 70,000 $ — $ — $ — $ 70,000 (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 June 30, 2016 and December 31, 2015 are as follows: (Amounts in Thousands) June 30, 2016 December 31, 2015 Restricted cash and cash equivalents $ 591,984 $ 380,699 Restricted investments - fixed maturities at fair value 1,815,846 1,490,547 Total restricted cash, cash equivalents, and investments $ 2,407,830 $ 1,871,246
Realized Gain (Loss) on Investments	The tables below summarize the gross realized gains and (losses) for the three and six months ended June 30, 2016 and 2015 : (Amounts in Thousands) Three Months Ended June 30, 2016 Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 35,008 $ (1,571 ) $ 33,437 Equity securities, available-for-sale 608 (658 ) (50 ) Equity securities, trading 5,315 (5,575 ) (260 ) Other invested assets 4 (1,076 ) (1,072 ) Write-down of equity securities, available-for-sale — (16,956 ) (16,956 ) $ 40,935 $ (25,836 ) $ 15,099 (Amounts in Thousands) Three Months Ended June 30, 2015 Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 2,228 $ (3,653 ) $ (1,425 ) Equity securities, available-for-sale 102 (32 ) 70 Equity securities, trading 3,414 (2,025 ) 1,389 Other invested assets — (1,210 ) (1,210 ) Write-down of fixed maturities, available-for-sale — (176 ) (176 ) Write-down of equity securities, available-for-sale — (1,290 ) (1,290 ) $ 5,744 $ (8,386 ) $ (2,642 ) (Amounts in Thousands) Six Months Ended June 30, 2016 Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 39,811 $ (1,617 ) $ 38,194 Equity securities, available-for-sale 1,268 (799 ) 469 Equity securities, trading 14,927 (12,431 ) 2,496 Other invested assets 4 (1,133 ) (1,129 ) Write-down of equity securities, available-for-sale — (16,956 ) (16,956 ) $ 56,010 $ (32,936 ) $ 23,074 (Amounts in Thousands) Six Months Ended June 30, 2015 Gross Gains Gross Losses Net Gains (Losses) Fixed maturities, available-for-sale $ 22,922 $ (7,843 ) $ 15,079 Equity securities, available-for-sale 2,266 (1,711 ) 555 Equity securities, trading 6,737 (4,500 ) 2,237 Other invested assets — (2,378 ) (2,378 ) Write-down of fixed securities, available-for-sale — (1,290 ) (1,290 ) Write-down of equity securities, trading — (1,192 ) (1,192 ) $ 31,925 $ (18,914 ) $ 13,011

Fair Value of Financial Instr29

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 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 June 30, 2016 and December 31, 2015 : (Amounts in Thousands) Total Level 1 Level 2 Level 3 Assets: U.S. treasury securities $ 277,324 $ 277,324 $ — $ — U.S. government agencies 9,748 — 9,748 — Municipal bonds 878,185 — 878,185 — Foreign government 130,281 — 130,281 — Corporate bonds and other bonds: Finance 1,431,831 — 1,431,831 — Industrial 2,139,212 — 2,139,212 — Utilities 186,401 — 186,401 — Commercial mortgage backed securities 191,087 — 191,087 — Residential mortgage backed securities: Agency backed 1,155,030 — 1,155,030 — Non-agency backed 53,151 — 53,151 — Collateralized loan / debt obligations 361,074 — 361,074 — Asset-backed securities 25,644 — 25,644 — Equity securities, available-for-sale 161,880 129,994 7,121 24,764 Equity securities, trading 26,847 26,847 — — Short term investments (As restated) 9,868 9,868 — — Life settlement contracts 304,434 — — 304,434 $ 7,341,997 $ 444,033 $ 6,568,765 $ 329,198 Liabilities: Equity securities sold but not yet purchased $ 21,170 $ 21,170 $ — $ — Securities sold under agreements to repurchase, at contract value 366,860 — 366,860 — Life settlement contract profit commission 9,054 — — 9,054 Contingent consideration (As restated) 75,772 — — 75,772 Derivatives 636 — 636 — $ 473,492 $ 21,170 $ 367,496 $ 84,826 (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 (as restated) 17,171 17,171 — — Life settlement contracts 264,001 — — 264,001 $ 5,846,737 $ 153,764 $ 5,391,761 $ 301,212 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 (as restated) 84,760 — — 84,760 Derivatives 1,077 — 1,077 — $ 139,861 $ 18,163 $ 21,532 $ 100,166
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 six months ended June 30, 2016 and 2015 : (Amounts in Thousands) Balance as of March 31, 2016 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of June 30, Equity securities, available-for-sale 25,556 — (776 ) (16 ) — — 24,764 Life settlement contracts 294,573 28,532 — 11,330 (30,001 ) — 304,434 Life settlement contract profit commission (7,168 ) (1,886 ) — — — — (9,054 ) Contingent consideration (as restated) (73,867 ) (3,587 ) — (11,461 ) 13,143 — (75,772 ) Total $ 239,094 $ 23,059 $ (776 ) $ (147 ) $ (16,858 ) $ — $ 244,372 (Amounts in Thousands) Balance as of January 1, 2016 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of June 30, Equity securities, available-for-sale 37,211 — (12,449 ) 2 — — 24,764 Life settlement contracts 264,001 59,161 — 11,330 (30,058 ) — 304,434 Life settlement contract profit commission (15,406 ) (9,054 ) — — 15,406 — (9,054 ) Contingent consideration (as restated) (84,760 ) (5,998 ) — (8,460 ) 23,446 — (75,772 ) Total $ 201,046 $ 44,109 $ (12,449 ) $ 2,872 $ 8,794 $ — $ 244,372 (Amounts in Thousands) Balance as of March 31, 2015 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of June 30, 2015 Equity securities, available-for-sale 37,765 — 2,467 — — — 40,232 Life settlement contracts 259,785 17,640 — — (10,032 ) — 267,393 Life settlement contract profit commission (14,575 ) (2,419 ) — — — — (16,994 ) Contingent consideration (as restated) (80,688 ) (3,652 ) — 28 5,696 — (78,616 ) Total $ 202,287 $ 11,569 $ 2,467 $ 28 $ (4,336 ) $ — $ 212,015 (Amounts in Thousands) Balance as of January 1, 2015 Net income Other comprehensive income Purchases and issuances Sales and settlements Net transfers into (out of) Level 3 Balance as of June 30, 2015 Equity securities, available-for-sale 34,886 — 5,392 — (46 ) 40,232 Life settlement contracts 264,517 38,890 — — (36,014 ) — 267,393 Life settlement contract profit commission (16,534 ) (460 ) — — — — (16,994 ) Contingent consideration (as restated) (41,704 ) (1,826 ) — (44,960 ) 9,874 — (78,616 ) Total $ 241,165 $ 36,604 $ 5,392 $ (44,960 ) $ (26,186 ) $ — $ 212,015
Fair Value Measurements, Recurring and Nonrecurring	The fair value of the Company's material debt arrangements as of June 30, 2016 was as follows: Carrying Value Fair Value 7.25% Subordinated Notes due 2055 $ 145,140 $ 153,420 7.50% Subordinated Notes due 2055 130,628 139,914 2.75% Convertible senior notes due 2044 163,269 178,833 6.125% Notes due 2023 248,048 259,224 Junior subordinated debentures due 2035-2037 121,984 80,900 Trust preferred securities due 2033-2037 92,786 92,786 Revolving credit facility 130,000 130,000 Other 197,744 197,744
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 six months ended June 30, 2016 and 2015 is as follows: Three Months Ended June 30, Six Months Ended June 30, (Amounts in Thousands) 2016 2015 2016 2015 Net income $ 28,532 $ 17,640 $ 59,161 $ 38,890 Premiums paid (13,354 ) (11,158 ) (25,456 ) (22,288 ) Profit commission (1,886 ) (2,419 ) (9,054 ) (460 ) Other expenses (616 ) (967 ) (1,245 ) (1,673 ) Gain on investment in life settlement contracts $ 12,676 $ 3,096 $ 23,406 $ 14,469
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 June 30, 2016 and December 31, 2015 and only includes data for policies to which the Company assigned value at those dates: June 30, December 31, Average age of insured 82.5 years 82.0 years Average life expectancy, months (1) 108 114 Average face amount per policy (Amounts in thousands) $ 6,365 $ 6,564 Effective discount rate (2) 12.8 % 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 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 June 30, 2016 and December 31, 2015 : Change in life expectancy (Amounts in Thousands) Plus 4 Months Minus 4 Months Investment in life policies: June 30, 2016 $ (38,254 ) $ 45,092 December 31, 2015 $ (37,697 ) $ 40,997 Change in discount rate (1) (Amounts in Thousands) Plus 1% Minus 1% Investment in life policies: June 30, 2016 $ (26,601 ) $ 29,514 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)	6 Months Ended
	Jun. 30, 2016
Investments, All Other Investments [Abstract]
Investment in Life Settlements	The following tables describe the Company’s investment in life settlements as of June 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 June 30, 2016 0-1 — $ — $ — 1-2 1 1,868 2,500 2-3 8 42,956 71,000 3-4 9 35,331 64,422 4-5 9 19,542 62,000 Thereafter 228 204,737 1,412,314 Total 255 $ 304,434 $ 1,612,236 (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 June 30, 2016 based on 215 policies out of 255 policies, as the Company assigned no value to 40 of the policies as of June 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 June 30, 2016 and December 31, 2015 : (Amounts in Thousands, except number of Life Settlement Contracts) June 30, 2016 December 31, 2015 Number of policies with a negative value from discounted cash flow model as of period end 40 42 Premiums paid for the preceding twelve month period for period ended $ 7,163 $ 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 June 30, 2016 , are as follows: (Amounts in Thousands) Premiums Due on Life Settlement Contracts 2016 $ 64,353 2017 42,020 2018 43,105 2019 41,350 2020 37,788 Thereafter 443,511 Total $ 672,127

Deferred Policy Acquisitions 31

Deferred Policy Acquisitions Costs (Tables)	6 Months Ended
	Jun. 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 six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Amounts in Thousands) (As restated) (As restated) (As restated) (As restated) Balance, beginning of period $ 736,307 $ 649,233 $ 693,639 $ 629,261 Acquisition costs deferred 293,133 209,110 509,625 386,158 Amortization (187,142 ) (168,494 ) (360,966 ) (325,570 ) Balance, end of period $ 842,298 $ 689,849 $ 842,298 $ 689,849

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Borrowings	The table below summarizes the Company’s trust preferred securities assumed in the Republic acquisition as of June 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 4.489 (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% . The Company’s outstanding debt consisted of the following at June 30, 2016 and December 31, 2015 : (Amounts in Thousands) June 30, 2016 December 31, 2015 Revolving credit facility $ 130,000 $ 130,000 5.5% Convertible senior notes due 2021 (the "2021 Notes") 5,166 5,103 2.75% Convertible senior notes due 2044 (the "2044 Notes") 163,269 160,258 6.125% Senior notes due 2023 (the "2023 Notes") 248,048 247,911 Junior subordinated debentures (the "2035-2037 Notes") 121,984 121,940 Trust preferred securities (the "2033-2037 TPS Notes") 92,786 — 7.25% Subordinated Notes due 2055 (the "7.25% 2055 Notes") 145,140 145,078 7.50% Subordinated Notes due 2055 (the "7.50% 2055 Notes") 130,628 130,572 Secured loan agreements 74,038 38,455 Promissory notes 118,540 13,750 $ 1,229,599 $ 993,067
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 June 30, 2016 : (Amounts in Thousands) Letters of Credit Limit Letters of Credit Outstanding Letters of Credit Available Revolving credit facility $ 175,000 $ 120,136 $ 54,864 Funds at Lloyd's facility, in USD equivalent 399,420 390,405 9,015 ING Bank N.V. and Deutsche Bank Netherlands N.V. facilities, in USD equivalent 87,300 67,976 19,324 Comerica bank letters of credit 75,000 48,467 26,533 Other letters of credit, in aggregate 1,675 1,675 —
Aggregate Scheduled Maturities of Borrowings	Aggregate scheduled maturities of the Company’s outstanding debt, excluding unamortized deferred origination costs, at June 30, 2016 are: (Amounts in Thousands) June 30, 2017 2016 $ 3,617 2017 33,690 2018 35,921 2019 160,798 2020 26,576 Thereafter 985,539 (1) Total scheduled payments 1,246,141 Unamortized deferred origination costs (16,542 ) 1,229,599 (1) Amount includes debt outstanding under the 2021 Notes and 2044 Notes, which is net of unamortized original issue discount of $795 and $48,352 , 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 six months ended June 30, 2016 and 2015 was: Three Months Ended June 30, Six Months Ended June 30, (Amounts in Thousands) 2016 2015 2016 2015 Revolving credit facility $ 1,098 $ 728 $ 2,254 $ 1,544 Funds at Lloyd's facility 1,123 634 2,322 1,681 2021 Notes 114 245 229 594 2023 Notes 3,896 3,896 7,793 7,793 2035-2037 Notes 1,546 1,695 3,061 3,715 2033-2037 TPS Notes 769 — 769 — 2044 Notes 3,116 3,016 6,232 6,031 7.25% 2055 Notes 2,750 368 5,500 368 7.50% 2055 Notes 2,559 — 5,118 — Secured loan agreements 178 223 367 459 Promissory notes 1,397 154 1,555 310 Other, including interest income (As restated) (634 ) 513 (1,414 ) 1,058 $ 17,912 $ 11,472 $ 33,786 $ 23,553

Acquisition Costs and Other U33

Acquisition Costs and Other Underwriting Expenses (Tables)	6 Months Ended
	Jun. 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 six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Amounts in Thousands) (As restated) (As restated) (As restated) (As restated) Policy acquisition expenses $ 130,488 $ 97,578 $ 279,152 $ 211,196 Salaries and benefits 139,139 140,785 256,960 246,899 Other insurance general and administrative expenses 24,850 7,809 30,833 20,858 $ 294,477 $ 246,172 $ 566,945 $ 478,953

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 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 six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Amounts in Thousands, except for earnings per share) As restated As restated As restated As restated Basic earnings per share: Net income attributable to AmTrust common shareholders $ 127,156 $ 45,786 $ 211,134 $ 179,303 Less: Net income allocated to participating securities and redeemable non-controlling interest — 111 — 444 Net income allocated to AmTrust common shareholders $ 127,156 $ 45,675 $ 211,134 $ 178,859 Weighted average common shares outstanding – basic 173,182 165,120 174,346 163,904 Less: Weighted average participating shares outstanding — 404 — 410 Weighted average common shares outstanding - basic 173,182 164,716 174,346 163,494 Net income per AmTrust common share - basic $ 0.73 $ 0.28 $ 1.21 $ 1.09 Diluted earnings per share: Net income attributable to AmTrust common shareholders $ 127,156 $ 45,786 $ 211,134 $ 179,303 Less: Net income allocated to participating securities and redeemable non-controlling interest — 111 — 444 Net income allocated to AmTrust common shareholders $ 127,156 $ 45,675 $ 211,134 $ 178,859 Weighted average common shares outstanding – basic 173,182 164,716 174,346 163,494 Plus: Dilutive effect of stock options, convertible debt, other 1,865 3,352 1,881 3,622 Weighted average common shares outstanding – dilutive 175,047 168,068 176,227 167,116 Net income per AmTrust common shares – diluted $ 0.73 $ 0.27 $ 1.20 $ 1.07

Share Based Compensation (Table

Share Based Compensation (Tables)	6 Months Ended
	Jun. 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 six months ended June 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 (345,137 ) 3.79 (907,086 ) 4.40 Canceled or terminated — — (47,650 ) 5.09 Outstanding at end of period 2,438,743 7.44 2,999,004 6.84
Summary of Restricted Stock and RSU Activity	A summary of the Company’s restricted stock and RSU activity for the six months ended June 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 $ 16.71 Granted 846,180 26.03 462,856 29.16 Vested (789,186 ) 17.45 (811,422 ) 14.40 Forfeited (32,987 ) 23.73 (20,136 ) 20.35 Non-vested at end of period 1,877,523 24.26 2,242,320 20.08
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 six months ended June 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 six months ended June 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 — — Non-vested at end of period 681,223 25.57 767,456 24.65

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 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 six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Amounts in Thousands) As restated As restated As restated As restated Income before equity in earnings of unconsolidated subsidiaries and non-controlling interest $ 163,554 $ 42,760 $ 273,524 $ 216,693 Tax at federal statutory rate of 35% $ 57,244 $ 14,966 $ 95,733 $ 75,843 Tax effects resulting from: Foreign rate differential (31,523 ) (15,152 ) (48,844 ) (13,049 ) Adjustment to prior year taxes 830 861 977 (27,659 ) Permanent adjustments 3,886 (10,202 ) (587 ) (13,257 ) Valuation allowance (9,425 ) — (9,936 ) — Other, net 2,795 558 5,424 5,646 Provision (benefit) for income taxes $ 23,807 $ (8,969 ) $ 42,767 $ 27,524 Effective tax rate 14.6 % (21.0 )% 15.6 % 12.7 %

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 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 six months ended June 30, 2016 and 2015 related to Maiden Reinsurance agreements: Three Months Ended June 30, Six Months Ended June 30, (Amounts in Thousands) 2016 2015 2016 2015 Results of operations: Premium written – ceded $ (529,267 ) $ (522,435 ) $ (1,072,955 ) $ (1,050,720 ) Change in unearned premium – ceded 40,704 89,077 127,402 217,692 Earned premium - ceded $ (488,563 ) $ (433,358 ) $ (945,553 ) $ (833,028 ) Ceding commission on premium written $ 155,204 $ 160,082 $ 329,538 $ 328,855 Ceding commission – deferred (9,594 ) (30,860 ) (45,537 ) (80,946 ) Ceding commission – earned $ 145,610 $ 129,222 $ 284,001 $ 247,909 Incurred loss and loss adjustment expense – ceded $ 304,480 $ 336,540 $ 659,334 $ 585,930

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 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 625,023 Deferred tax assets 41,743 Other assets 220,004 Property and equipment 435 Goodwill and intangible assets 128,714 Total assets $ 1,727,221 Liabilities Loss and loss adjustment expense reserves $ 885,898 Unearned premiums 301,972 Trust Preferred Outstanding 93,106 Accrued expenses and other liabilities 130,221 Funds held under reinsurance treaties 83,331 Total liabilities $ 1,494,528 Acquisition price $ 232,693
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 55,424 Total assets $ 312,470 Liabilities Loss and loss adjustment expense reserves $ 78,909 Unearned premiums 24,782 Accrued expenses and other liabilities 29,196 Total liabilities $ 132,887 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 and intangible assets 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 preliminary 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 22,466 Deferred tax asset 50,399 Goodwill and Intangible assets 84,215 Total assets $ 426,872 Liabilities Loss and loss expense reserves $ 3,013 Unearned premiums 182,441 Accrued expenses and other liabilities 85,171 Total liabilities $ 270,625 Acquisition price $ 156,247

Shareholder Equity and Accumu39

Shareholder Equity and Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Ownership Components of Total Equity	The following table summarizes the ownership components of total stockholders' equity: Six Months Ended June 30, 2016 2015 AmTrust Non-Controlling Interest Total AmTrust Non-Controlling Interest Total (Amounts in Thousands) (As restated) (As restated) (As restated) (As restated) Balance, December 31, $ 2,723,780 $ 176,455 $ 2,900,235 $ 1,912,213 $ 159,181 $ 2,071,394 Net income 231,501 9,493 240,994 193,311 4,771 198,082 Unrealized holding gain (loss) 191,347 — 191,347 (52,106 ) — (52,106 ) Reclassification adjustment (8,045 ) — (8,045 ) (1,205 ) — (1,205 ) Foreign currency translation (80,007 ) — (80,007 ) (26,862 ) 14 (26,848 ) Unrealized gain on interest rate swap 287 — 287 190 — 190 Extinguishment of 2021 senior notes, equity component — — — (3,345 ) — (3,345 ) Share exercises, compensation and other 4,421 — 4,421 8,455 — 8,455 Common share (purchase) issuance, net (103,164 ) — (103,164 ) 171,672 — 171,672 Common share dividends (52,189 ) (10,229 ) (62,418 ) (41,249 ) — (41,249 ) Preferred stock issuance, net of fees 139,070 — 139,070 176,529 — 176,529 Preferred stock dividends (20,367 ) — (20,367 ) (14,008 ) — (14,008 ) Capital contribution (distribution), net — 5,500 5,500 — (1,478 ) (1,478 ) Balance, June 30, $ 3,026,634 $ 181,219 $ 3,207,853 $ 2,323,595 $ 162,488 $ 2,486,083 During the six months ended June 30, 2016 , net income attributable to non-controlling interest was $9,493 and net income attributable to redeemable non-controlling interest was $341 . Net income for AmTrust, Non-controlling interest and Redeemable non-controlling interest totaled $9,834 for the six months ended June 30, 2016 . During the six months ended June 30, 2015 , net income attributable to non-controlling interest was $4,771 and net income attributable to redeemable non-controlling interest was $658 . Net income for AmTrust, Non-controlling interest and Redeemable non-controlling interest totaled $5,429 for the six months ended June 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, March 31, 2016 (As restated) $ (145,268 ) $ 48,035 $ (581 ) $ (107 ) $ (97,921 ) Other comprehensive income (loss) before reclassification (32,809 ) 158,930 258 — 126,379 Amounts reclassed from accumulated other comprehensive income — (3,920 ) — — (3,920 ) Income tax benefit (expense) — (54,254 ) (90 ) — (54,344 ) Net current-period other comprehensive (loss) income (32,809 ) 100,756 168 — 68,115 Balance, June 30, 2016 (As restated) $ (178,077 ) $ 148,791 $ (413 ) $ (107 ) $ (29,806 ) Balance, March 31, 2015 (As restated) $ (66,349 ) $ 81,290 $ (1,294 ) $ (2,793 ) $ 10,854 Other comprehensive income before reclassification 30,665 (92,766 ) 251 — (61,850 ) Amounts reclassed from accumulated other comprehensive income — (1,216 ) — — (1,216 ) Income tax benefit (expense) — 32,894 (88 ) — 32,806 Net current-period other comprehensive income 30,665 (61,088 ) 163 — (30,260 ) Balance, June 30, 2015 (As restated) $ (35,684 ) $ 20,202 $ (1,131 ) $ (2,793 ) $ (19,406 ) (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 (as restated) $ (98,074 ) $ (34,511 ) $ (700 ) $ (107 ) $ (133,392 ) Other comprehensive income (loss) before reclassification (80,003 ) 286,588 441 — 207,026 Amounts reclassed from accumulated other comprehensive income — (4,578 ) — — (4,578 ) Income tax benefit (expense) — (98,708 ) (154 ) — (98,862 ) Net current-period other comprehensive income (loss) (80,003 ) 183,302 287 — 103,586 Balance, June 30, 2016 (As restated) $ (178,077 ) $ 148,791 $ (413 ) $ (107 ) $ (29,806 ) Balance, December 31, 2014 (As restated) $ (8,822 ) $ 73,513 $ (1,321 ) $ (2,793 ) $ 60,577 Other comprehensive income before reclassification (26,862 ) (80,163 ) 292 — (106,733 ) Amounts reclassed from accumulated other comprehensive income — (1,854 ) — — (1,854 ) Income tax benefit (expense) — 28,706 (102 ) — 28,604 Net current-period other comprehensive (loss) income (26,862 ) (53,311 ) 190 — (79,983 ) Balance, June 30, 2015 (As restated) $ (35,684 ) $ 20,202 $ (1,131 ) $ (2,793 ) $ (19,406 )
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 (as restated) $ (98,074 ) $ (34,511 ) $ (700 ) $ (107 ) $ (133,392 ) Other comprehensive income (loss) before reclassification (80,003 ) 286,588 441 — 207,026 Amounts reclassed from accumulated other comprehensive income — (4,578 ) — — (4,578 ) Income tax benefit (expense) — (98,708 ) (154 ) — (98,862 ) Net current-period other comprehensive income (loss) (80,003 ) 183,302 287 — 103,586 Balance, June 30, 2016 (As restated) $ (178,077 ) $ 148,791 $ (413 ) $ (107 ) $ (29,806 ) Balance, December 31, 2014 (As restated) $ (8,822 ) $ 73,513 $ (1,321 ) $ (2,793 ) $ 60,577 Other comprehensive income before reclassification (26,862 ) (80,163 ) 292 — (106,733 ) Amounts reclassed from accumulated other comprehensive income — (1,854 ) — — (1,854 ) Income tax benefit (expense) — 28,706 (102 ) — 28,604 Net current-period other comprehensive (loss) income (26,862 ) (53,311 ) 190 — (79,983 ) Balance, June 30, 2015 (As restated) $ (35,684 ) $ 20,202 $ (1,131 ) $ (2,793 ) $ (19,406 )

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 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 six months ended June 30, 2016 and 2015 : (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Three Months Ended June 30, 2016: Gross written premium $ 1,060,558 $ 651,561 $ 360,993 $ — $ 2,073,112 Net written premium 601,638 447,061 219,737 — 1,268,436 Change in unearned premium (28,660 ) (89,177 ) 31,153 — (86,684 ) Net earned premium 572,978 357,884 250,890 — 1,181,752 Loss and loss adjustment expense (382,950 ) (231,328 ) (170,115 ) — (784,393 ) Acquisition costs and other underwriting expenses (As restated) (150,149 ) (78,773 ) (65,555 ) — (294,477 ) (533,099 ) (310,101 ) (235,670 ) — (1,078,870 ) Underwriting income (As restated) 39,879 47,783 15,220 — 102,882 Service and fee income (As restated) 25,745 69,155 1,228 28,178 124,306 Investment income and realized gain 28,193 19,506 18,211 (66 ) 65,844 Other expenses (As restated) (34,321 ) (21,154 ) (11,697 ) (67,172 ) (134,344 ) Interest expense (As restated) (9,180 ) (5,612 ) (3,120 ) — (17,912 ) Foreign currency loss (As restated) — (28,995 ) — — (28,995 ) Gain on life settlement contracts 6,507 3,961 2,208 — 12,676 Acquisition gain (reduction) on purchase (9,223 ) 48,320 — — 39,097 Provision for income taxes (As restated) (6,256 ) (19,030 ) (3,184 ) 4,663 (23,807 ) Equity in earnings of unconsolidated subsidiary – related party — — — 4,802 4,802 Net income (As restated) $ 41,344 $ 113,934 $ 18,866 $ (29,595 ) $ 144,549 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Three Months Ended June 30, 2015: Gross written premium $ 875,828 $ 479,863 $ 322,697 $ — $ 1,678,388 Net written premium 517,392 306,784 184,545 — 1,008,721 Change in unearned premium (34,333 ) (22,816 ) 17,398 — (39,751 ) Net earned premium 483,059 283,968 201,943 — 968,970 Loss and loss adjustment expense (314,344 ) (185,345 ) (138,786 ) — (638,475 ) Acquisition costs and other underwriting expenses (As restated) (129,217 ) (58,442 ) (58,513 ) — (246,172 ) (443,561 ) (243,787 ) (197,299 ) — (884,647 ) Underwriting income (As restated) 39,498 40,181 4,644 — 84,323 Service and fee income (As restated) 25,042 50,193 32 20,893 96,160 Investment income and realized gain 15,604 11,807 6,216 14 33,641 Other expenses (As restated) (26,387 ) (14,446 ) (9,735 ) (50,568 ) (101,136 ) Interest expense and loss on extinguishment of debt (As restated) (5,989 ) (3,314 ) (2,169 ) — (11,472 ) Foreign currency loss (As restated) — (61,852 ) — — (61,852 ) Gain on life settlement contracts 1,619 942 535 — 3,096 (Provision) benefit for income taxes (As restated) (1,077 ) 7,997 1,116 933 8,969 Equity in earnings of unconsolidated subsidiary – related party — — — 4,042 4,042 Net income $ 48,310 $ 31,508 $ 639 $ (24,686 ) $ 55,771 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Six Months Ended June 30, 2016: Gross written premium $ 2,126,690 $ 1,181,007 $ 698,489 $ — $ 4,006,186 Net written premium 1,226,166 784,894 478,055 — 2,489,115 Change in unearned premium (149,094 ) (105,169 ) 21,182 — (233,081 ) Net earned premium 1,077,072 679,725 499,237 — 2,256,034 Loss and loss adjustment expense (715,634 ) (442,264 ) (341,568 ) — (1,499,466 ) Acquisition costs and other underwriting expenses (As restated) (283,681 ) (151,624 ) (131,640 ) — (566,945 ) (999,315 ) (593,888 ) (473,208 ) — (2,066,411 ) Underwriting income (As restated) 77,757 85,837 26,029 — 189,623 Service and fee income (As restated) 58,282 143,539 1,517 49,773 253,111 Investment income and realized gain 55,047 38,676 29,511 — 123,234 Other expenses (As restated) (69,968 ) (38,856 ) (22,981 ) (131,806 ) (263,611 ) Interest expense (As restated) (17,935 ) (9,960 ) (5,891 ) — (33,786 ) Foreign currency loss (As restated) — (67,228 ) — — (67,228 ) Gain on life settlement contracts 12,425 6,900 4,081 — 23,406 Acquisition gain on purchase 455 48,320 — — 48,775 (Provision) benefit for income taxes (As restated) (17,471 ) (31,195 ) (4,857 ) 10,756 (42,767 ) Equity in earnings of unconsolidated subsidiary – related party — — — 10,578 10,578 Net income (As restated) $ 98,592 $ 176,033 $ 27,409 $ (60,699 ) $ 241,335 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Corporate and Other Total Six Months Ended June 30, 2015: Gross written premium $ 1,776,947 $ 950,733 $ 681,844 $ — $ 3,409,524 Net written premium 1,040,632 594,473 416,805 — 2,051,910 Change in unearned premium (133,582 ) 18,626 (18,607 ) — (133,563 ) Net earned premium 907,050 613,099 398,198 — 1,918,347 Loss and loss adjustment expense (588,690 ) (393,985 ) (269,083 ) — (1,251,758 ) Acquisition costs and other underwriting expenses (As restated) (239,287 ) (129,254 ) (110,412 ) — (478,953 ) (827,977 ) (523,239 ) (379,495 ) — (1,730,711 ) Underwriting income (As restated) 79,073 89,860 18,703 — 187,636 Service and fee income (As restated) 51,675 107,188 365 39,051 198,279 Investment income and realized gain 38,850 28,547 16,366 104 83,867 Other expenses (As restated) (52,663 ) (28,177 ) (20,208 ) (101,048 ) (202,096 ) Interest expense and loss on extinguishment of debt (As restated) (14,732 ) (7,882 ) (5,653 ) — (28,267 ) Foreign currency loss (As restated) — (37,195 ) — — (37,195 ) Loss on life settlement contracts 7,540 4,035 2,894 — 14,469 (Provision) benefit for income taxes (As restated) (13,350 ) (19,021 ) (1,516 ) 6,363 (27,524 ) Equity in earnings of unconsolidated subsidiary – related party — — — 9,571 9,571 Net income $ 96,393 $ 137,355 $ 10,951 $ (45,959 ) $ 198,740 The following tables summarize net earned premium by major line of business, by segment, for the three and six months ended June 30, 2016 and 2015 : (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Three Months Ended June 30, 2016: Workers' compensation $ 358,894 $ — $ 199,704 $ 558,598 Warranty — 179,169 — 179,169 Other liability — 33,305 12,800 46,105 Commercial auto and liability, physical damage 111,992 8,684 30,602 151,278 Medical malpractice — 62,733 — 62,733 Other 102,092 73,993 7,784 183,869 Total net earned premium $ 572,978 $ 357,884 $ 250,890 $ 1,181,752 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Three Months Ended June 30, 2015: Workers' compensation $ 322,703 $ — $ 86,344 $ 409,047 Warranty — 144,316 — 144,316 Other liability 14,425 32,485 35,333 82,243 Commercial auto and liability, physical damage 67,491 8,714 34,465 110,670 Medical malpractice — 40,143 — 40,143 Other 78,440 58,310 45,801 182,551 Total net earned premium $ 483,059 $ 283,968 $ 201,943 $ 968,970 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Six Months Ended June 30, 2016: Workers' compensation $ 704,937 $ — $ 307,417 $ 1,012,354 Warranty — 347,502 — 347,502 Other liability 5,249 74,018 83,381 162,648 Commercial auto and liability, physical damage 197,896 17,176 65,745 280,817 Medical malpractice — 106,750 — 106,750 Other 168,990 134,279 42,694 345,963 Total net earned premium $ 1,077,072 $ 679,725 $ 499,237 $ 2,256,034 (Amounts in Thousands) Small Commercial Business Specialty Risk and Extended Warranty Specialty Program Total Six Months Ended June 30, 2015: Workers' compensation $ 614,768 $ — $ 163,946 $ 778,714 Warranty — 295,847 — 295,847 Other liability 24,944 65,296 75,853 166,093 Commercial auto and liability, physical damage 119,411 12,154 69,698 201,263 Medical malpractice — 76,454 — 76,454 Other 147,927 163,348 88,701 399,976 Total net earned premium $ 907,050 $ 613,099 $ 398,198 $ 1,918,347
Long Lived Assets and Total Assets of Business Segments	The following table summarizes total assets of the business segments as of June 30, 2016 and December 31, 2015 : (Amounts in Thousands) June 30, 2016 December 31, 2015 Small Commercial Business (As restated) $ 9,960,183 $ 7,870,360 Specialty Risk and Extended Warranty (As restated) 7,001,339 6,420,747 Specialty Program (As restated) 4,205,312 2,972,538 Corporate and Other (As restated) — 2,406 $ 21,166,834 $ 17,266,051

Restatement of Previously Iss41

Restatement of Previously Issued Consolidated Financial Statements (Balance sheet) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Fixed maturities, available-for-sale, at fair value	$ 6,838,968		$ 5,433,797	$ 4,842,644
Equity securities, available-for-sale, at fair value	161,880		104,497	103,093
Equity securities, trading, at fair value	26,847		27,271	30,652
Short-term investments	9,868		17,171	17,710
Equity investment in unconsolidated subsidiaries – related party	149,573		138,023	126,919
Other investments	129,414		106,176	45,572
Securities pledged, at fair value (amortized cost of $51,862)				50,801
Total investments	7,316,550		5,826,935	5,217,391
Cash and cash equivalents	1,127,546		1,003,916	869,969		$ 880,899
Restricted cash and cash equivalents	591,984		380,699	248,940
Accrued interest and dividends	55,940		51,487	38,167
Premiums receivable, net	2,708,311		2,235,953	2,485,239
Reinsurance recoverable	3,856,087		3,007,377	2,799,007
Prepaid reinsurance premium, related party	1,924,747		1,531,866	1,583,560
Other assets	1,427,604		1,477,006	1,187,159
Deferred policy acquisition costs	842,298	$ 736,307	693,639	689,849	$ 649,233	629,261
Property and equipment, net	316,516		257,128	172,138
Goodwill	603,662		432,700	422,357
Intangible assets	395,589		367,345	330,871
Total assets	21,166,834		17,266,051	16,044,647
Loss and loss adjustment expense reserves	9,097,408		7,208,367	6,380,845
Unearned premiums	4,819,255		4,014,387	3,868,747
Ceded reinsurance premiums payable	843,473		651,051	831,665
Accrued expenses and other liabilities	1,968,305		1,497,772	1,526,591
Available-for-sale Securities Pledged as Collateral				35,257
Debt	1,229,599		993,067	914,482
Total liabilities	17,958,040		14,364,644	13,557,587
Commitments and contingencies
Redeemable non-controlling interest	941		1,172	977
Common stock	1,965		1,964	1,964
Preferred stock	626,250		482,500	482,500
Additional paid-in capital	1,380,153		1,383,492	1,117,249
Treasury stock at cost	(262,984)		(162,867)	(222,240)
Accumulated other comprehensive loss, net of tax	(29,806)		(133,392)	(19,406)
Retained earnings	1,311,056		1,152,083	963,528
Total AmTrust Financial Services, Inc. equity	3,026,634		2,723,780	2,323,595
Non-controlling interest	181,219		176,455	162,488
Total stockholders’ equity	3,207,853		2,900,235	2,486,083		2,071,394
Total liabilities and stockholders' equity	21,166,834		17,266,051	16,044,647
As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Fixed maturities, available-for-sale, at fair value	6,838,968			4,842,644
Equity securities, available-for-sale, at fair value	161,880			103,093
Equity securities, trading, at fair value	26,847			30,652
Short-term investments	127,880			41,707
Equity investment in unconsolidated subsidiaries – related party	149,573			126,919
Other investments	129,414			45,572
Securities pledged, at fair value (amortized cost of $51,862)				50,801
Total investments	7,434,562			5,241,388
Cash and cash equivalents	1,009,534		931,970	845,972		902,750
Restricted cash and cash equivalents	591,984			248,940
Accrued interest and dividends	55,940			38,167
Premiums receivable, net	2,562,165			2,376,818
Reinsurance recoverable	3,856,087			2,799,007
Prepaid reinsurance premium, related party	1,924,747			1,583,560
Other assets	1,371,771			1,190,777
Deferred policy acquisition costs	873,641			695,150
Property and equipment, net	327,311			180,822
Goodwill	603,662			422,357
Intangible assets	395,589			330,871
Total assets	21,006,993			15,953,829
Loss and loss adjustment expense reserves	9,097,408			6,380,845
Unearned premiums	4,819,255			3,868,747
Ceded reinsurance premiums payable	843,473			831,665
Accrued expenses and other liabilities	1,604,413			1,289,511
Available-for-sale Securities Pledged as Collateral				35,257
Debt	1,229,599			914,482
Total liabilities	17,594,148			13,320,507
Redeemable non-controlling interest	941			977
Common stock	1,965			1,964
Preferred stock	626,250			482,500
Additional paid-in capital	1,380,153			1,117,249
Treasury stock at cost	(262,984)			(222,240)
Accumulated other comprehensive loss, net of tax	(31,791)			(48,545)
Retained earnings	1,517,092			1,138,929
Total AmTrust Financial Services, Inc. equity	3,230,685			2,469,857
Non-controlling interest	181,219			162,488
Total stockholders’ equity	3,411,904			2,632,345
Total liabilities and stockholders' equity	21,006,993			15,953,829
Restatement adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Short-term investments	(118,012)			(23,997)
Securities pledged, at fair value (amortized cost of $51,862)				0
Total investments	(118,012)			(23,997)
Cash and cash equivalents	118,012		$ 71,946	23,997		$ (21,851)
Premiums receivable, net	146,146			108,421
Other assets	55,833			(3,618)
Deferred policy acquisition costs	(31,343)			(5,301)
Property and equipment, net	(10,795)			(8,684)
Total assets	159,841			90,818
Accrued expenses and other liabilities	363,892			237,080
Total liabilities	363,892			237,080
Accumulated other comprehensive loss, net of tax	1,985			29,139
Retained earnings	(206,036)			(175,401)
Total AmTrust Financial Services, Inc. equity	(204,051)			(146,262)
Total stockholders’ equity	(204,051)			(146,262)
Total liabilities and stockholders' equity	$ 159,841			$ 90,818

Restatement of Previously Iss42

Restatement of Previously Issued Consolidated Financial Statements (Income statement) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net written premium	$ 1,268,436	$ 1,008,721	$ 2,489,115	$ 2,051,910
Change in unearned premium	(86,684)	(39,751)	(233,081)	(133,563)
Net earned premium	1,181,752	968,970	2,256,034	1,918,347
Service and fee income (As restated)	124,306	96,160	253,111	198,279
Net investment income	50,745	36,283	100,160	70,856
Net realized gain (loss) on investments	15,099	(2,642)	23,074	13,011
Total revenues	1,371,902	1,098,771	2,632,379	2,200,493
Loss and loss adjustment expense	784,393	638,475	1,499,466	1,251,758
Acquisition costs and other underwriting expenses	294,477	246,172	566,945	478,953
Other	134,344	101,136	263,611	202,096
Total expenses	1,213,214	985,783	2,330,022	1,932,807
Income before other (expense) income, provision for income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest	158,688	112,988	302,357	267,686
Interest expense	(17,912)	(11,472)	(33,786)	(23,553)
Loss on extinguishment of debt	0	0	0	(4,714)
Gain on investment in life settlement contracts net of profit commission	12,676	3,096	23,406	14,469	$ 14,469
Foreign currency (loss) gain	(28,995)	(61,852)	(67,228)	(37,195)
Gain on acquisition	39,097	0	48,775	0
Total other income (loss)	4,866	(70,228)	(28,833)	(50,993)
Income before income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest	163,554	42,760	273,524	216,693
Provision for income taxes	23,807	(8,969)	42,767	27,524
Income before equity in earnings of unconsolidated subsidiaries	139,747	51,729	230,757	189,169
Equity in earnings of unconsolidated subsidiary – related parties	4,802	4,042	10,578	9,571
Equity in earnings of unconsolidated subsidiaries – related parties	4,802	4,042	10,578	9,571
Net income	144,549	55,771	241,335	198,740
Net income related to redeemable non-controlling interest	(5,817)	(1,346)	(9,834)	(5,429)
Net income attributable to AmTrust stockholders	138,732	54,425	231,501	193,311
Net income			240,994	198,082
Dividends on preferred stock	(11,576)	(8,639)	(20,367)	(14,008)
Net income attributable to AmTrust common stockholders	$ 127,156	$ 45,786	$ 211,134	$ 179,303
Basic earnings per share (in dollars per share)	$ 0.73	$ 0.28	$ 1.21	$ 1.09
Diluted earnings per share (in dollars per share)	0.73	0.27	1.20	1.07
Dividends declared per common share (in dollars per share)	$ 0.15	$ 0.125	$ 0.3	$ 0.25
Weighted average common shares outstanding - Basic (in shares)	173,182	164,716	174,346	163,494
Weighted average common shares outstanding - Diluted (in shares)	175,047	168,068	176,227	167,116
As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net written premium	$ 1,268,436	$ 1,008,721	$ 2,489,115	$ 2,051,910
Change in unearned premium	(86,684)	(39,751)	(233,081)	(133,563)
Net earned premium	1,181,752	968,970	2,256,034	1,918,347
Service and fee income (As restated)	138,270	107,737	282,471	220,623
Net investment income	50,745	36,283	100,160	70,856
Net realized gain (loss) on investments	15,099	(2,642)	23,074	13,011
Total revenues	1,385,866	1,110,348	2,661,739	2,222,837
Loss and loss adjustment expense	784,393	638,475	1,499,466	1,251,758
Acquisition costs and other underwriting expenses	298,803	238,710	563,437	470,386
Other	132,970	98,130	261,156	196,587
Total expenses	1,216,166	975,315	2,324,059	1,918,731
Income before other (expense) income, provision for income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest	169,700	135,033	337,680	304,106
Interest expense	(19,738)	(9,646)	(37,438)	(19,901)
Loss on extinguishment of debt				(4,714)
Gain on investment in life settlement contracts net of profit commission	12,676	3,096	23,406	14,469
Foreign currency (loss) gain	(26,435)	(47,320)	(62,108)	(7,366)
Gain on acquisition	39,097		48,775
Total other income (loss)	5,600	(53,870)	(27,365)	(17,512)
Income before income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest	175,300	81,163	310,315	286,594
Provision for income taxes	27,918	4,472	55,644	51,284
Income before equity in earnings of unconsolidated subsidiaries	147,382	76,691	254,671	235,310
Equity in earnings of unconsolidated subsidiary – related parties	4,802	4,042	10,578	9,571
Equity in earnings of unconsolidated subsidiaries – related parties			10,578	9,571
Net income	152,184	80,733	265,249	244,881
Net income related to redeemable non-controlling interest	(5,817)	(1,346)	(9,834)	(5,429)
Net income attributable to AmTrust stockholders	146,367	79,387	255,415	239,452
Dividends on preferred stock	(11,576)	(8,639)	(20,367)	(14,008)
Net income attributable to AmTrust common stockholders	$ 134,791	$ 70,748	$ 235,048	$ 225,444
Basic earnings per share (in dollars per share)	$ 0.79	$ 0.43	$ 1.36	$ 1.38
Diluted earnings per share (in dollars per share)	0.78	0.42	1.34	1.35
Dividends declared per common share (in dollars per share)	$ 0.15	$ 0.125	$ 0.30	$ 0.25
Restatement adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Service and fee income (As restated)	$ (13,964)	$ (11,577)	$ (29,360)	$ (22,344)
Total revenues	(13,964)	(11,577)	(29,360)	(22,344)
Acquisition costs and other underwriting expenses	(4,326)	7,462	3,508	8,567
Other	1,374	3,006	2,455	5,509
Total expenses	(2,952)	10,468	5,963	14,076
Income before other (expense) income, provision for income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest	(11,012)	(22,045)	(35,323)	(36,420)
Interest expense	1,826	(1,826)	3,652	(3,652)
Gain on investment in life settlement contracts net of profit commission		0		0
Foreign currency (loss) gain	(2,560)	(14,532)	(5,120)	(29,829)
Total other income (loss)	(734)	(16,358)	(1,468)	(33,481)
Income before income taxes, equity in earnings of unconsolidated subsidiaries and non-controlling interest	(11,746)	(38,403)	(36,791)	(69,901)
Provision for income taxes	(4,111)	(13,441)	(12,877)	(23,760)
Income before equity in earnings of unconsolidated subsidiaries	(7,635)	(24,962)	(23,914)	(46,141)
Equity in earnings of unconsolidated subsidiary – related parties	0	0	0	0
Net income	(7,635)	(24,962)	(23,914)	(46,141)
Net income related to redeemable non-controlling interest		0		0
Net income attributable to AmTrust stockholders	(7,635)	(24,962)	(23,914)	(46,141)
Dividends on preferred stock		0		0
Net income attributable to AmTrust common stockholders	$ (7,635)	$ (24,962)	$ (23,914)	$ (46,141)
Basic earnings per share (in dollars per share)	$ (0.06)	$ (0.15)	$ (0.15)	$ (0.29)
Diluted earnings per share (in dollars per share)	$ (0.05)	(0.15)	$ (0.14)	(0.28)
Dividends declared per common share (in dollars per share)		$ 0		$ 0

Restatement of Previously Iss43

Restatement of Previously Issued Consolidated Financial Statements (Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	$ 144,549	$ 55,771	$ 241,335	$ 198,740
Foreign currency translation adjustments	(32,809)	30,665	(80,003)	(26,862)
Change in fair value of interest rate swap	168	163	287	190
Gross unrealized holding gain (loss)	170,466	(92,766)	298,119	(80,163)
Less tax expense	62,093	(32,468)	106,772	(28,057)
Net unrealized holding gain (loss)	108,373	(60,298)	191,347	(52,106)
Other-than-temporary impairment loss	(10,537)	0	(10,537)	0
Other net realized loss on investments	2,920	(790)	2,492	(1,205)
Reclassification adjustments for investment gain (loss) included in net income:	(7,617)	(790)	(8,045)	(1,205)
Other comprehensive income (loss), net of tax	68,115	(30,260)	103,586	(79,983)
Comprehensive income	212,664	25,511	344,921	118,757
Less: Comprehensive income attributable to non-controlling and redeemable non-controlling interest	5,817	1,346	9,834	5,429
Comprehensive income attributable to AmTrust Financial Services, Inc.	206,847	24,165	335,087	113,328
As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	152,184	80,733	265,249	244,881
Foreign currency translation adjustments	(36,820)	14,021	(84,665)	(51,332)
Change in fair value of interest rate swap	168	163	287	190
Gross unrealized holding gain (loss)	168,963	(91,679)	293,683	(80,494)
Less tax expense	59,137	(32,088)	102,789	(28,173)
Net unrealized holding gain (loss)	109,826	(59,591)	190,894	(52,321)
Other-than-temporary impairment loss	(10,537)	0	(10,537)	0
Other net realized loss on investments	2,920	(790)	2,492	(1,205)
Reclassification adjustments for investment gain (loss) included in net income:	(7,617)	(790)	(8,045)	(1,205)
Other comprehensive income (loss), net of tax	65,557	(46,197)	98,471	(104,668)
Comprehensive income	217,741	34,536	363,720	140,213
Less: Comprehensive income attributable to non-controlling and redeemable non-controlling interest	5,817	1,346	9,834	5,429
Comprehensive income attributable to AmTrust Financial Services, Inc.	211,924	33,190	353,886	134,784
Restatement adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	(7,635)	(24,962)	(23,914)	(46,141)
Foreign currency translation adjustments	4,011	16,644	4,662	24,470
Change in fair value of interest rate swap	0		0
Gross unrealized holding gain (loss)	1,503	(1,087)	4,436	331
Less tax expense	2,956	(380)	3,983	116
Net unrealized holding gain (loss)	(1,453)	(707)	453	215
Other comprehensive income (loss), net of tax	2,558	15,937	5,115	24,685
Comprehensive income	(5,077)	(9,025)	(18,799)	(21,456)
Comprehensive income attributable to AmTrust Financial Services, Inc.	$ (5,077)	$ (9,025)	$ (18,799)	$ (21,456)

Restatement of Previously Iss44

Restatement of Previously Issued Consolidated Financial Statements (Stockholders' Equity) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	$ 3,026,634	$ 2,723,780	$ 2,323,595
As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	3,230,685		2,469,857
Restatement adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	(204,051)		(146,262)
Common stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	1,965		1,964
Common stock | As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	1,965		1,964
Preferred stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	626,250		482,500
Preferred stock | As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	626,250		482,500
Additional paid-in capital
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	1,380,153		1,117,249
Additional paid-in capital | As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	1,380,153		1,117,249
Treasury Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	(262,984)		(222,240)
Treasury Stock | As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	(262,984)		(222,240)
Accumulated other comprehensive income (loss)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	(29,805)		(19,406)
Accumulated other comprehensive income (loss) | As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	(31,791)		(48,545)
Accumulated other comprehensive income (loss) | Restatement adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	1,986		29,139
Retained earnings
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	1,311,055		963,528
Retained earnings | As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	1,517,092		1,138,929
Retained earnings | Restatement adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total AmTrust Financial Services, Inc. equity	$ (206,037)		$ (175,401)

Restatement of Previously Iss45

Restatement of Previously Issued Consolidated Financial Statements (Cash Flow) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	$ 144,549	$ 55,771	$ 241,335	$ 198,740
Depreciation and amortization			59,865	40,310
Net amortization of bond premium or discount			9,707	6,537
Equity earnings on investment in unconsolidated subsidiaries	(4,802)	(4,042)	(10,578)	(9,571)
Gain on investment in life settlement contracts, net	(12,676)	(3,096)	(23,406)	(14,469)
Net realized gain on investments			(40,030)	(15,493)
Non-cash write-down of investments	16,956	1,466	16,956	2,482
Discount on notes payable			2,910	2,769
Stock based compensation	5,901	5,522	11,542	10,436
Loss on extinguishment of debt	0	0	0	4,714
Bad debt expense			8,241	7,724
Foreign currency (gain)	28,995	61,852	67,228	37,195
Gain on acquisition			(48,775)	0
Premiums receivable			(376,594)	(604,812)
Reinsurance recoverable			(174,241)	(355,894)
Deferred policy acquisition costs			(104,759)	(59,846)
Prepaid reinsurance premiums			(392,881)	(280,712)
Other assets			205,431	(112,310)
Ceded reinsurance premium payable			185,275	155,340
Loss and loss adjustment expense reserve			780,599	664,495
Unearned premiums			383,135	392,662
Funds held under reinsurance treaties			(28,041)	13,525
Accrued expenses and other current liabilities			(124,170)	111,615
Net cash provided by operating activities			648,749	195,437
Purchases of fixed maturities, available-for-sale			(1,100,754)	(1,168,051)
Purchases of equity securities, available-for-sale			(20,424)	(14,923)
Purchase of equity securities, trading			(100,087)	(109,555)
Purchases of other investments			(11,345)	(18,868)
Sales, maturities, paydowns of fixed maturities, available-for-sale			699,304	557,111
Sales of equity securities, available-for-sale			11,697	12,184
Sales of equity securities, trading			102,267	108,325
Sales of other investments			1,242	13,337
Net (purchases) of short term investments			7,303	66,498
Net (purchases) of securities sold but not purchased			(17,448)	15,456
Receipt of life settlement contract proceeds			8,058	81,014
Acquisition of subsidiaries, net of cash obtained			(118,607)	(121,401)
(Increase) decrease in restricted cash and cash equivalents, net			(211,285)	(62,715)
Purchase of property and equipment			(84,094)	(46,560)
Net cash used in investing activities			(834,173)	(688,148)
Repurchase agreements, net			366,860
Revolving credit facility borrowings			0	430,000
Revolving credit facility payments			0	(365,000)
Repurchase agreements, net			366,860	48,819
Secured loan agreements payments			(3,569)	(3,478)
Subordinated notes due 2055 proceeds			0	150,000
Convertible senior notes settlement			0	(53,606)
Financing fees			0	(4,990)
Common stock issuance			276	171,672
Common stock repurchase			(103,509)	0
Preferred stock issuance			139,070	176,529
Contingent consideration payments			(23,446)	(9,874)
Non-controlling interest capital contributions (dividends) to consolidated subsidiaries, net			(5,301)	(41)
Stock option exercise and other			(7,084)	(1,982)
Dividends distributed on common stock			(52,624)	(39,901)
Dividends distributed on preferred stock			(20,367)	(14,008)
Net cash provided by financing activities			329,667	484,140
Effect of exchange rate changes on cash			(20,613)	(2,359)
Net increase in cash and cash equivalents			123,630	(10,930)
Cash and cash equivalents, beginning of the period			1,003,916	880,899
Cash and cash equivalents, end of the period	1,127,546	869,969	1,127,546	869,969
Interest payments on debt			28,902	18,245
Income tax payments			22,575	226,278
Declared dividends on common stock	52,189	41,187	52,189	41,187
Secured loan borrowings			39,361	0
As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	152,184	80,733	265,249	244,881
Depreciation and amortization			54,842	38,519
Net amortization of bond premium or discount			9,707	6,537
Equity earnings on investment in unconsolidated subsidiaries			(10,578)	(9,571)
Gain on investment in life settlement contracts, net			(23,406)	(14,469)
Net realized gain on investments			(40,030)	(15,493)
Non-cash write-down of investments			16,956	2,482
Discount on notes payable			2,910	2,769
Stock based compensation			11,542	10,436
Loss on extinguishment of debt				4,714
Bad debt expense			8,241	7,724
Foreign currency (gain)			62,108	7,366
Gain on acquisition			(48,775)
Premiums receivable			(350,748)	(536,715)
Reinsurance recoverable			(172,948)	(355,989)
Deferred policy acquisition costs			(125,499)	(66,026)
Prepaid reinsurance premiums			(392,881)	(280,712)
Other assets			186,005	(124,061)
Ceded reinsurance premium payable			185,275	155,340
Loss and loss adjustment expense reserve			780,599	664,495
Unearned premiums			382,794	394,994
Funds held under reinsurance treaties			(28,041)	13,525
Accrued expenses and other current liabilities			(154,560)	15,883
Net cash provided by operating activities			618,762	166,629
Purchases of fixed maturities, available-for-sale			(1,299,160)	(1,168,051)
Purchases of equity securities, available-for-sale			(111,284)	(14,923)
Purchase of equity securities, trading			(100,101)	(109,555)
Purchases of other investments			(18,509)	(27,234)
Sales, maturities, paydowns of fixed maturities, available-for-sale			910,939	560,386
Sales of equity securities, available-for-sale			89,348	12,184
Sales of equity securities, trading			102,261	108,325
Sales of other investments			1,242	13,337
Net (purchases) of short term investments			(43,614)	42,501
Net (purchases) of securities sold but not purchased			(17,448)
Receipt of life settlement contract proceeds			8,058	81,014
Acquisition of subsidiaries, net of cash obtained			(118,607)	(121,401)
(Increase) decrease in restricted cash and cash equivalents, net			(211,285)	(62,715)
Purchase of property and equipment			(65,538)	(44,386)
Net cash used in investing activities			(873,698)	(715,062)
Repurchase agreements, net			366,860
Revolving credit facility borrowings				430,000
Revolving credit facility payments				(365,000)
Repurchase agreements, net				48,819
Secured loan agreements payments			(3,569)	(3,478)
Subordinated notes due 2055 proceeds				150,000
Convertible senior notes settlement				(53,606)
Financing fees				(4,990)
Common stock issuance			276	171,672
Common stock repurchase			(103,509)
Preferred stock issuance			139,070	176,529
Contingent consideration payments			0	0
Non-controlling interest capital contributions (dividends) to consolidated subsidiaries, net			(5,301)	(41)
Stock option exercise and other			(7,084)	(1,982)
Dividends distributed on common stock			(52,624)	(39,901)
Dividends distributed on preferred stock			(20,367)	(14,008)
Net cash provided by financing activities			353,113	494,014
Effect of exchange rate changes on cash			(20,613)	(2,359)
Net increase in cash and cash equivalents			77,564	(56,778)
Cash and cash equivalents, beginning of the period			931,970	902,750
Cash and cash equivalents, end of the period	1,009,534	845,972	1,009,534	845,972
Interest payments on debt			28,902	18,245
Income tax payments			22,575	226,278
Declared dividends on common stock	52,189	41,187	52,189	41,187
Secured loan borrowings			39,361
Restatement adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	(7,635)	(24,962)	(23,914)	(46,141)
Depreciation and amortization			5,023	1,791
Foreign currency (gain)			5,120	29,829
Premiums receivable			(25,846)	(68,097)
Reinsurance recoverable			(1,293)	95
Deferred policy acquisition costs			20,740	6,180
Other assets			19,426	11,751
Unearned premiums			341	(2,332)
Accrued expenses and other current liabilities			30,390	95,732
Net cash provided by operating activities			29,987	28,808
Purchases of fixed maturities, available-for-sale			198,406
Purchases of equity securities, available-for-sale			90,860
Purchase of equity securities, trading			14
Purchases of other investments			7,164	8,366
Sales, maturities, paydowns of fixed maturities, available-for-sale			(211,635)	(3,275)
Sales of equity securities, available-for-sale			(77,651)
Sales of equity securities, trading			6
Sales of other investments			0
Net (purchases) of short term investments			50,917	23,997
Net (purchases) of securities sold but not purchased			0
Purchase of property and equipment			(18,556)	(2,174)
Net cash used in investing activities			39,525	26,914
Contingent consideration payments			(23,446)	(9,874)
Net cash provided by financing activities			(23,446)	(9,874)
Net increase in cash and cash equivalents			46,066	45,848
Cash and cash equivalents, beginning of the period			71,946	(21,851)
Cash and cash equivalents, end of the period	$ 118,012	$ 23,997	$ 118,012	$ 23,997

Restatement of Previously Iss46

Restatement of Previously Issued Consolidated Financial Statements (Non-Printing) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Fixed maturities, available-for-sale, amortized cost	$ 6,617,396	$ 4,814,001	$ 6,617,396	$ 4,814,001	$ 5,482,042
Fixed maturities, trading, at cost	0		0
Equity securities, available-for-sale, cost	154,536	99,595	154,536	99,595	109,346
Equity securities, trading, at cost	26,232	29,668	26,232	29,668	26,937
Other investments	129,414	45,572	129,414	45,572	106,176
Other Investments	38,039	14,759	38,039	14,759	30,309
Reinsurance recoverable	3,856,087	2,799,007	3,856,087	2,799,007	3,007,377
Prepaid reinsurance premium	1,924,747	1,583,560	1,924,747	1,583,560	1,531,866
Other assets (related party $205,320; $189,223; recorded at fair value $304,434; $264,001)	1,427,604	1,187,159	1,427,604	1,187,159	1,477,006
Ceded reinsurance premiums payable, related party	304,434		304,434
Ceded reinsurance premiums payable	843,473	831,665	843,473	831,665	651,051
Accrued expenses and other current liabilities, fair value	1,968,305	1,526,591	1,968,305	1,526,591	1,497,772
Accrued expenses and other current liabilities	462,537	47,242	462,537	47,242	$ 132,558
Debt Issuance Costs, Net	$ 16,542	$ 13,122	$ 16,542	$ 13,122
Common stock, shares authorized (in shares)	500,000,000	150,000,000	500,000,000	150,000,000	500,000,000
Common stock, issued (in shares)	196,455,000	98,221,000	196,455,000	98,221,000	196,455,000
Common stock, outstanding (in shares)	172,432,000	82,637,000	172,432,000	82,637,000	175,915,000
Common stock, par value (usd per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Preferred stock, par value (in usd per share)	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	5,112,000	4,968,000	5,112,000	4,968,000	4,968,000
Preferred stock, shares outstanding (in shares)	5,112,000	4,968,000	5,112,000	4,968,000	4,968,000
Liquidation preference	$ 626,250		$ 626,250		$ 482,500
Treasury stock at cost (in shares)	24,023,000	15,584,000	24,023,000	15,584,000	20,540,000
Service and fee income (As restated)	$ 124,306	$ 96,160	$ 253,111	$ 198,279
Interest income	2,187	2,211	4,375	4,399
Related Party Transactions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other investments	68,186	0	68,186	0	$ 64,869
Reinsurance recoverable	2,236,292	1,824,707	2,236,292	1,824,707	1,963,140
Prepaid reinsurance premium	1,194,588	1,136,562	1,194,588	1,136,562	1,066,961
Other assets (related party $205,320; $189,223; recorded at fair value $304,434; $264,001)	205,320	169,615	205,320	169,615	189,223
Ceded reinsurance premiums payable, related party		267,393		267,393
Ceded reinsurance premiums payable	679,083	535,843	679,083	535,843	379,988
Accrued expenses and other current liabilities, fair value	167,975	167,975	167,975	167,975	$ 167,975
Service and fee income (As restated)	21,608	21,281	41,771	38,685
Ceding commission - earned	145,610	129,222	284,001	247,909
Interest income	$ 2,187	$ 2,211	$ 4,375	$ 4,399

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	Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	$ 6,771,932	$ 5,591,388
Gross unrealized gains	298,026	99,265
Gross unrealized losses	(69,110)	(152,359)
Fair Value	7,000,848	5,538,294
Preferred stock
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	3,629	4,869
Gross unrealized gains	0	150
Gross unrealized losses	(33)	(30)
Fair Value	3,596	4,989
Common stock
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	150,907	104,477
Gross unrealized gains	14,895	3,816
Gross unrealized losses	(7,518)	(8,785)
Fair Value	158,284	99,508
U.S. treasury securities
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	272,547	69,547
Gross unrealized gains	4,778	1,470
Gross unrealized losses	(1)	(258)
Fair Value	277,324	70,759
U.S. government agencies
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	9,541	45,586
Gross unrealized gains	207	235
Gross unrealized losses	0	(263)
Fair Value	9,748	45,558
Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	838,930	530,004
Gross unrealized gains	40,406	11,952
Gross unrealized losses	(1,151)	(1,530)
Fair Value	878,185	540,426
Foreign government
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	122,470	109,645
Gross unrealized gains	8,314	4,912
Gross unrealized losses	(503)	(812)
Fair Value	130,281	113,745
Finance | Corporate bonds:
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	1,389,171	1,358,765
Gross unrealized gains	60,930	38,058
Gross unrealized losses	(18,270)	(34,393)
Fair Value	1,431,831	1,362,430
Industrial | Corporate bonds:
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	2,051,346	1,706,772
Gross unrealized gains	113,173	20,542
Gross unrealized losses	(25,306)	(80,251)
Fair Value	2,139,213	1,647,063
Utilities | Corporate bonds:
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	183,995	157,067
Gross unrealized gains	7,155	1,548
Gross unrealized losses	(4,749)	(9,115)
Fair Value	186,401	149,500
Commercial mortgage backed securities
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	186,920	151,164
Gross unrealized gains	5,898	1,334
Gross unrealized losses	(1,731)	(1,180)
Fair Value	191,087	151,318
Agency backed | Residential mortgage backed securities:
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	1,117,536	964,059
Gross unrealized gains	37,748	14,912
Gross unrealized losses	(254)	(4,133)
Fair Value	1,155,030	974,838
Non-agency backed | Residential mortgage backed securities:
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	51,932	124,046
Gross unrealized gains	1,495	322
Gross unrealized losses	(276)	(4,139)
Fair Value	53,151	120,229
Collateralized loan / debt obligations
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	367,228	232,245
Gross unrealized gains	2,968	10
Gross unrealized losses	(9,122)	(6,161)
Fair Value	361,074	226,094
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Cost or amortized cost	25,780	33,142
Gross unrealized gains	59	4
Gross unrealized losses	(196)	(1,309)
Fair Value	$ 25,643	$ 31,837

Investments - Summary of Availa

Investments - Summary of Available for Sale Fixed Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Amortized Cost
Total fixed maturities	$ 6,617,396	$ 5,482,042	$ 4,814,001
Fair Value
Total fixed maturities	6,838,968	5,433,797	$ 4,842,644
Fixed maturities, available-for-sale
Amortized Cost
Due in one year or less	216,852	125,563
Due after one through five years	1,508,569	913,365
Due after five through ten years	2,753,851	2,586,061
Due after ten years	388,727	352,397
Mortgage and asset backed securities	1,749,397	1,504,656
Total fixed maturities	6,617,396	5,482,042
Fair Value
Due in one year or less	217,214	124,763
Due after one through five years	1,543,107	909,634
Due after five through ten years	2,883,670	2,537,734
Due after ten years	408,992	357,288
Mortgage and asset backed securities	1,785,986	1,504,378
Total fixed maturities	$ 6,838,969	$ 5,433,797

Investments (OTTI) (Details)

Investments (OTTI) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Other-than-temporary impairment charges	$ 16,956	$ 1,466	$ 16,956	$ 2,482
Fixed maturities, available-for-sale
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Other-than-temporary impairment charges	0	1,290	0	1,290
Equity securities, available-for-sale
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Other-than-temporary impairment charges	$ 16,956	$ 176	$ 16,956	$ 1,192

Investments - Summary of Gross

Investments - Summary of Gross Unrealized Losses of Fixed-maturities and Equity Securities (Details) $ in Thousands	Jun. 30, 2016USD ($)Contract	Dec. 31, 2015USD ($)Contract
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	$ 680,732	$ 2,492,426
Unrealized Losses	$ (53,730)	$ (130,434)
No. of Positions Held | Contract	551	1,847
Fair Market Value	$ 337,173	$ 217,876
Unrealized Losses	$ (15,380)	$ (21,925)
No. of Positions Held | Contract	292	164
Fair Market Value	$ 1,017,905	$ 2,710,302
Unrealized Losses	(69,110)	(152,359)
Common and preferred stock
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	19,282	59,302
Unrealized Losses	$ (6,740)	$ (8,711)
No. of Positions Held | Contract	68	67
Fair Market Value	$ 1,490	$ 402
Unrealized Losses	$ (812)	$ (104)
No. of Positions Held | Contract	28	2
Fair Market Value	$ 20,772	$ 59,704
Unrealized Losses	(7,552)	(8,815)
U.S. treasury securities
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	960	31,658
Unrealized Losses	$ (1)	$ (232)
No. of Positions Held | Contract	5	77
Fair Market Value	$ 651	$ 2,586
Unrealized Losses	$ 0	$ (26)
No. of Positions Held | Contract	1	8
Fair Market Value	$ 1,611	$ 34,244
Unrealized Losses	(1)	(258)
U.S. government agencies
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value		22,412
Unrealized Losses		$ (262)
No. of Positions Held | Contract		20
Fair Market Value		$ 182
Unrealized Losses		$ (1)
No. of Positions Held | Contract		2
Fair Market Value		$ 22,594
Unrealized Losses		(263)
Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	48,738	121,550
Unrealized Losses	$ (456)	$ (867)
No. of Positions Held | Contract	36	111
Fair Market Value	$ 15,391	$ 17,163
Unrealized Losses	$ (694)	$ (663)
No. of Positions Held | Contract	29	30
Fair Market Value	$ 64,129	$ 138,713
Unrealized Losses	(1,150)	(1,530)
Foreign government
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	13,405	18,598
Unrealized Losses	$ (503)	$ (688)
No. of Positions Held | Contract	10	27
Fair Market Value	$ 0	$ 5,977
Unrealized Losses	$ 0	$ (124)
No. of Positions Held | Contract	0	1
Fair Market Value	$ 13,405	$ 24,575
Unrealized Losses	(503)	(812)
Finance | Corporate bonds:
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	161,268	604,898
Unrealized Losses	$ (17,068)	$ (33,068)
No. of Positions Held | Contract	109	349
Fair Market Value	$ 42,783	$ 59,020
Unrealized Losses	$ (1,201)	$ (1,325)
No. of Positions Held | Contract	32	22
Fair Market Value	$ 204,051	$ 663,918
Unrealized Losses	(18,269)	(34,393)
Industrial | Corporate bonds:
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	191,697	858,632
Unrealized Losses	$ (20,201)	$ (65,887)
No. of Positions Held | Contract	162	633
Fair Market Value	$ 119,185	$ 82,495
Unrealized Losses	$ (5,105)	$ (14,364)
No. of Positions Held | Contract	61	55
Fair Market Value	$ 310,882	$ 941,127
Unrealized Losses	(25,306)	(80,251)
Utilities | Corporate bonds:
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	10,658	79,358
Unrealized Losses	$ (1,702)	$ (5,305)
No. of Positions Held | Contract	17	113
Fair Market Value	$ 20,747	$ 7,712
Unrealized Losses	$ (3,047)	$ (3,810)
No. of Positions Held | Contract	10	5
Fair Market Value	$ 31,405	$ 87,070
Unrealized Losses	(4,749)	(9,115)
Commercial mortgage backed securities
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	39,385	35,405
Unrealized Losses	$ (547)	$ (1,079)
No. of Positions Held | Contract	16	100
Fair Market Value	$ 47,712	$ 2,870
Unrealized Losses	$ (1,184)	$ (101)
No. of Positions Held | Contract	60	6
Fair Market Value	$ 87,097	$ 38,275
Unrealized Losses	(1,731)	(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	4,028
Unrealized Losses	$ (13)
No. of Positions Held | Contract	28
Fair Market Value	$ 26,573
Unrealized Losses	$ (241)
No. of Positions Held | Contract	34
Fair Market Value	$ 30,601
Unrealized Losses	(254)
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	18,001
Unrealized Losses	$ (207)
No. of Positions Held | Contract	16
Fair Market Value	$ 3,521
Unrealized Losses	$ (70)
No. of Positions Held | Contract	5
Fair Market Value	$ 21,522
Unrealized Losses	(277)
Collateralized loan / debt obligations
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	157,122	201,086
Unrealized Losses	$ (6,105)	$ (6,161)
No. of Positions Held | Contract	61	78
Fair Market Value	$ 58,079	$ 0
Unrealized Losses	$ (3,018)	$ 0
No. of Positions Held | Contract	24	0
Fair Market Value	$ 215,201	$ 201,086
Unrealized Losses	(9,123)	(6,161)
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Fair Market Value	16,188	30,302
Unrealized Losses	$ (187)	$ (1,309)
No. of Positions Held | Contract	23	70
Fair Market Value	$ 1,041	$ 0
Unrealized Losses	$ (8)	$ 0
No. of Positions Held | Contract	8	0
Fair Market Value	$ 17,229	$ 30,302
Unrealized Losses	$ (195)	$ (1,309)

Investments (Trading Securities

Investments (Trading Securities) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading securities, cost basis	$ 26,232	$ 29,668	$ 26,232	$ 29,668	$ 26,937
Market value	26,847	30,652	26,847	30,652	27,271
Proceeds from sale of trading securities	49,517	$ 48,057	102,267	$ 108,325
Common stock
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading securities, cost basis	26,232		26,232		26,937
Gross unrealized gains	1,215		1,215		739
Gross unrealized losses	(600)		(600)		(405)
Market value	$ 26,847		$ 26,847		$ 27,271

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	$ 50,894	$ 36,815	$ 100,384	$ 71,650
Investment expenses	(149)	(532)	(224)	(794)
Net investment income	50,745	36,283	100,160	70,856
Fixed maturities, available-for-sale
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	46,235	35,199	92,428	67,952
Equity securities, available-for-sale
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	4,098	661	6,462	1,070
Equity securities, trading
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	(125)	32	(278)	40
Cash and short term investments
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	$ 686	$ 923	$ 1,772	$ 2,588

Investments (Realized Gains and

Investments (Realized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Schedule of Available-for-sale Securities [Line Items]
Gross Gains	$ 40,935	$ 5,744	$ 56,010	$ 31,925
Net Gains (Losses)	33,391	(856)	38,663	15,813
Write-down of fixed maturities, available-for-sale	(16,956)	(1,466)	(16,956)	(2,482)
Total of gross loss including write-downs	(25,836)	(8,386)	(32,936)	(18,914)
Net gain and losses, including write-down	15,099	(2,642)	23,074	13,011
Fixed maturities, available-for-sale
Schedule of Available-for-sale Securities [Line Items]
Write-down of fixed maturities, available-for-sale	0	(1,290)	0	(1,290)
Equity securities, available-for-sale
Schedule of Available-for-sale Securities [Line Items]
Write-down of fixed maturities, available-for-sale	(16,956)	(176)	(16,956)	(1,192)
Available-for-sale | Fixed maturities, available-for-sale
Schedule of Available-for-sale Securities [Line Items]
Gross Gains	35,008	2,228	39,811	22,922
Gross Losses	(1,571)	(3,653)	(1,617)	(7,843)
Net Gains (Losses)	33,437	(1,425)	38,194	15,079
Write-down of fixed maturities, available-for-sale		(176)		(1,290)
Available-for-sale | Equity securities, available-for-sale
Schedule of Available-for-sale Securities [Line Items]
Gross Gains	608	102	1,268	2,266
Gross Losses	(658)	(32)	(799)	(1,711)
Net Gains (Losses)	(50)	70	469	555
Write-down of fixed maturities, available-for-sale	(16,956)	(1,290)		(1,192)
Equity securities, trading | Equity securities, available-for-sale
Schedule of Available-for-sale Securities [Line Items]
Gross Gains	5,315	3,414	14,927	6,737
Gross Losses	(5,575)	(2,025)	(12,431)	(4,500)
Net Gains (Losses)	(260)	1,389	2,496	2,237
Other invested assets
Schedule of Available-for-sale Securities [Line Items]
Gross Gains	4	0	4	0
Gross Losses	(1,076)	(1,210)	(1,133)	(2,378)
Net Gains (Losses)	$ (1,072)	$ (1,210)	$ (1,129)	$ (2,378)

Investments - Notional Amounts

Investments - Notional Amounts of Interest Rate Swaps by Remaining Maturity (Details) - Interest rate swaps $ in Thousands	Jun. 30, 2016USD ($)
Schedule of Available-for-sale Securities [Line Items]
One Year	$ 70,000
Two Through Five Years	0
Six Through Ten Years	0
After Ten Years	0
Total	$ 70,000

Investments - Fair Values of Re

Investments - Fair Values of Restricted Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Restricted cash and cash equivalents	$ 591,984	$ 380,699
Restricted investments - fixed maturities at fair value	1,815,846	1,490,547
Total restricted cash, cash equivalents, and investments	$ 2,407,830	$ 1,871,246

Investments - Additional Inform

Investments - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)agreementDerivativeInvestment	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)agreementDerivativeInvestment	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)DerivativeInvestment
Investment [Line Items]
Proceeds from the sale of investments in available-for-sale securities	$ 585,894,000	$ 267,049,000	$ 711,001,000	$ 569,295,000
Number of securities account for gross unrealized loss | Investment	843		843		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	25.00%		25.00%
Period of market capitalization (in months)			24 months
AAFS, Continuous unrealized loss position, 12 months or longer, aggregate loss	$ (15,380,000)		$ (15,380,000)		$ (21,925,000)
AFS, Continuous unrealized loss position, 12 months or longer, aggregate loss, greater or equal to 20% of amortized costs			$ 2,091,000
Percentage of amortized cost and costs (in percentage)	20.00%		20.00%
Proceeds from sale of trading securities	$ 49,517,000	$ 48,057,000	$ 102,267,000	$ 108,325,000
Number of interest rate swaps | Derivative	2		2		2
Interest rate swaps liability	$ 636,000		$ 636,000		$ 1,077,000
Number of repurchase agreements | agreement	28		28
Repurchase agreement, principal amount outstanding	$ 366,860,000		$ 366,860,000
Interest expense	52,000		52,000
Collateral pledged in support of the agreements	326,586,000		326,586,000
Equity securities, available-for-sale
Investment [Line Items]
Securities sold but not yet purchased, at fair value	$ 21,170,000		$ 21,170,000		$ 38,618,000
Counterparty One
Investment [Line Items]
Number of repurchase agreements | agreement	24		24
Repurchase agreement, principal amount outstanding	$ 232,540,000		$ 232,540,000
Counterparty Two
Investment [Line Items]
Number of repurchase agreements | agreement	4		4
Repurchase agreement, principal amount outstanding	$ 134,319,000		$ 134,319,000
Minimum
Investment [Line Items]
Interest rate (in percentage)	0.70%		0.70%
Maximum
Investment [Line Items]
Interest rate (in percentage)	1.00%		1.00%

Fair Value of Financial Instr57

Fair Value of Financial Instruments - Assets and Financial Liabilities on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	$ 7,341,997	$ 5,846,737
Fair Value of liabilities	473,492	139,861
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	21,170
Securities sold under agreements to repurchase, at contract value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	366,860
Life settlement contract profit commission
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	9,054	15,406
Contingent consideration (As restated)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	75,772	84,760
Derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	636	1,077
U.S. treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	277,324	70,759
U.S. government agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	9,748	45,558
Municipal bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	878,185	540,426
Foreign government
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	130,281	113,745
Finance | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	1,431,831	1,362,430
Industrial | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	2,139,212	1,647,063
Utilities | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	186,401	149,500
Commercial mortgage backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	191,087	151,318
Agency backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	1,155,030	974,838
Non-agency backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	53,151	120,229
Collateralized loan / debt obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	361,074	226,094
Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	25,644	31,837
Short term investments (As restated)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	9,868	17,171
Other investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	38,039
Life settlement contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	304,434	264,001
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	444,033	153,764
Fair Value of liabilities	21,170	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	21,170
Level 1 | Securities sold under agreements to repurchase, at contract value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	0
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 (As restated)
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	277,324	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 (As restated)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	9,868	17,171
Level 1 | Other investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	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	6,568,765	5,391,761
Fair Value of liabilities	367,496	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 | Securities sold under agreements to repurchase, at contract value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	366,860
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 (As restated)
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	636	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	9,748	45,558
Level 2 | Municipal bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	878,185	540,426
Level 2 | Foreign government
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	130,281	113,745
Level 2 | Finance | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	1,431,831	1,362,430
Level 2 | Industrial | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	2,139,212	1,647,063
Level 2 | Utilities | Corporate bonds:
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	186,401	149,500
Level 2 | Commercial mortgage backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	191,087	151,318
Level 2 | Agency backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	1,155,030	974,838
Level 2 | Non-agency backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	53,151	120,229
Level 2 | Collateralized loan / debt obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	361,074	226,094
Level 2 | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	25,644	31,837
Level 2 | Short term investments (As restated)
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
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	329,198	301,212
Fair Value of liabilities	84,826	100,166
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 | Securities sold under agreements to repurchase, at contract value
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	9,054	15,406
Level 3 | Contingent consideration (As restated)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value of liabilities	75,772	84,760
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	0	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	0	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 (As restated)
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	38,039
Level 3 | Life settlement contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	304,434	264,001
Available-for-sale | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	161,880	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	129,994	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	7,121	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	24,764	37,211
Trading | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	26,847	27,271
Trading | Level 1 | Equity securities, available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of assets	26,847	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 Instr58

Fair Value of Financial Instruments - Changes in Fair Value of Level 3 Financial Assets And Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	$ 239,094	$ 202,287	$ 201,046	$ 241,165
Net income	23,059	11,569	44,109	36,604
Other comprehensive income	(776)	2,467	(12,449)	5,392
Purchases and issuances	(147)	28	2,872	(44,960)
Sales and settlements	(16,858)	(4,336)	8,794	(26,186)
Net transfers into (out of) Level 3	0	0	0	0
Ending Balance	244,372	212,015	244,372	212,015
Other investments
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Net transfers into (out of) Level 3			8,807
Equity securities, available-for-sale
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	25,556	37,765	37,211	34,886
Net income	0	0	0	0
Other comprehensive income	(776)	2,467	(12,449)	5,392
Purchases and issuances	(16)	0	2	0
Sales and settlements	0	0	0	(46)
Net transfers into (out of) Level 3	0	0	0
Ending Balance	24,764	40,232	24,764	40,232
Life settlement contracts
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	294,573	259,785	264,001	264,517
Net income	28,532	17,640	59,161	38,890
Other comprehensive income	0	0	0	0
Purchases and issuances	11,330	0	11,330	0
Sales and settlements	(30,001)	(10,032)	(30,058)	(36,014)
Net transfers into (out of) Level 3	0	0	0	0
Ending Balance	304,434	267,393	304,434	267,393
Life settlement contract profit commission
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	(7,168)	(14,575)	(15,406)	(16,534)
Net income	(1,886)	(2,419)	(9,054)	(460)
Other comprehensive income	0	0	0	0
Purchases and issuances	0	0	0	0
Sales and settlements	0	0	15,406	0
Net transfers into (out of) Level 3	0	0	0	0
Ending Balance	(9,054)	(16,994)	(9,054)	(16,994)
Contingent consideration (As restated)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	(73,867)	(80,688)	(84,760)	(41,704)
Net income	(3,587)	(3,652)	(5,998)	(1,826)
Other comprehensive income	0	0	0	0
Purchases and issuances	(11,461)	28	(8,460)	(44,960)
Sales and settlements	13,143	5,696	23,446	9,874
Net transfers into (out of) Level 3	0	0	0	0
Ending Balance	$ (75,772)	$ (78,616)	$ (75,772)	$ (78,616)

Fair Value of Financial Instr59

Fair Value of Financial Instruments - Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net income	$ 23,059	$ 11,569	$ 44,109	$ 36,604
Gain on investment in life settlement contracts	12,676	3,096	23,406	14,469	$ 14,469
Life settlement contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net income	28,532	17,640	59,161	38,890
Premiums paid	(13,354)	(11,158)	(25,456)	(22,288)
Other Expenses	(616)	(967)	(1,245)	(1,673)
Gain on investment in life settlement contracts	12,676	3,096	23,406	14,469
Life settlement contract profit commission
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net income	$ (1,886)	$ (2,419)	$ (9,054)	$ (460)

Fair Value of Financial Instr60

Fair Value of Financial Instruments -Fair Value of Debt (Details) - USD ($) $ in Thousands	Jun. 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)	$ 248,048	$ 247,911
Revolving credit facility	130,000	130,000
Other	197,744
Fair Value
Other	197,744
Fair Value, Measurements, Recurring
Fair Value
Revolving credit facility	130,000
7.25% Subordinated Notes due 2055
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
7.25% Subordinated Notes due 2055 (the 7.25% 2055 Notes)	145,140	145,078
7.50% Subordinated Notes due 2055
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
7.25% Subordinated Notes due 2055 (the 7.25% 2055 Notes)	130,628	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]
2.75% Convertible senior notes due 2044	163,269	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)	121,984	121,940
Fair Value
Junior subordinated debentures due 2035-2037	80,900
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
Junior subordinated debentures due 2035-2037	92,786
Level 1 | Fair Value, Measurements, Recurring
Fair Value
7.25% Subordinated Notes due 2055	153,420
6.125% Notes due 2023	259,224
Level 1 | 7.50% Subordinated Notes due 2055 | Fair Value, Measurements, Recurring
Fair Value
7.25% Subordinated Notes due 2055	139,914
Level 1 | 2.75% Convertible senior notes due 2044 (the 2044 Notes) | Fair Value, Measurements, Recurring
Fair Value
2.75% Convertible senior notes due 2044	$ 178,833

Fair Value of Financial Instr61

Fair Value of Financial Instruments - Fair Value of Portfolio of Life Insurance Policies (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Life Settlement Contracts, Fair Value Method [Abstract]
Average age of insured (in years)	82 years 6 months	82 years 1 day
Average life expectancy, months (in months)	108 months	114 months
Average face amount per policy	$ 6,365	$ 6,564
Implicit discount rate (in percentage)	12.80%	13.70%

Fair Value of Financial Instr62

Fair Value of Financial Instruments - Increase or (Decrease) in Carrying Value of Investment in Life Insurance Policies (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Life Settlement Contracts, Fair Value Method [Abstract]
Life expectancy Plus 4 Months	$ (38,254)	$ (37,697)
Life expectancy Minus 4 Months	45,092	40,997
Discount Plus 1%	(26,601)	(26,558)
Discount Minus 1%	$ 29,514	$ 29,644

Fair Value of Financial Instr63

Fair Value of Financial Instruments - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 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	$ 0	$ 0	$ 0	$ 0
Maximum investment in Limited Partnership and Hedge Funds	0.50%		0.50%
Investment discount rate (in percentage)			7.50%
Discount rate (in percentage)			7.50%
Implicit discount rate (in percentage)			12.80%		13.70%
NGHC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of ownership in NGHC	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	$ 149,573		$ 149,573
Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investment in NGHC	$ 263,368		263,368
Other investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net transfers into (out of) Level 3			$ 8,807

Investment in Life Settlement64

Investment in Life Settlements - Additional Information (Detail)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016USD ($)Entity	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Entity	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Schedule of Cost-method Investments [Line Items]
Profits and losses of investment in life insurance policies and premium finance loans			56.00%
Gain on investment in life settlement contracts net of profit commission	$ 12,676,000	$ 3,096,000	$ 23,406,000	$ 14,469,000	$ 14,469,000
NGHC
Schedule of Cost-method Investments [Line Items]
Percentage of ownership	12.00%		12.00%
LSC Entities
Schedule of Cost-method Investments [Line Items]
Percentage of ownership interest	50.00%		50.00%
Number of entities with ownership interest | Entity	4		4
Life settlement contracts
Schedule of Cost-method Investments [Line Items]
Capital contributions	$ 11,000		$ 11,000,000
NGHC | LSC Entities
Schedule of Cost-method Investments [Line Items]
Percentage of ownership interest	50.00%		50.00%

Investment in Life Settlement65

Investment in Life Settlements (Detail) $ in Thousands	Jun. 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	1		0
2-3 | Contract	8		8
3-4 | Contract	9		8
4-5 | Contract	9		4
Thereafter | Contract	228		235
Total	255		255	255
Fair Value
0-1	$ 0	$ 0
1-2	1,868	0
2-3	42,956	31,261
3-4	35,331	20,117
4-5	19,542	6,760
Thereafter	204,737	205,863
Total	304,434	264,001
Face Value
0-1	0	0
1-2	2,500	0
2-3	71,000	70,500
3-4	64,422	46,500
4-5	62,000	20,000
Thereafter	1,412,314	1,481,313
Total	$ 1,612,236	$ 1,618,313

Investment in Life Settlement66

Investment in Life Settlements - Additional Information (Footnotes) (Detail) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016USD ($)Contract	Dec. 31, 2015USD ($)Contract	Jun. 30, 2016policy	Dec. 31, 2015policy
Investments, All Other Investments [Abstract]
Life settlement contracts, number of contracts with fair value	215			213
Total number of Life Settlement Contracts	255	255		255
Number of policies with a negative value from discounted cash flow model as of period end	40		40	42
Premiums paid for the preceding twelve month period for period ended	$ 7,163	$ 4,971
Death benefit received	$ 0	$ 0

Investment in Life Settlement67

Investment in Life Settlements - Premiums to be Paid (Detail) - Premiums Due On Life Settlement Contracts $ in Thousands	Jun. 30, 2016USD ($)
Life Insurance Premiums and Related Investment Income [Line Items]
2,016	$ 64,353
2,017	42,020
2,018	43,105
2,019	41,350
2,020	37,788
Thereafter	443,511
Total	$ 672,127

Deferred Policy Acquisitions 68

Deferred Policy Acquisitions Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning balance	$ 736,307	$ 649,233	$ 693,639	$ 629,261
Acquisition costs deferred	293,133	209,110	509,625	386,158
Amortization	(187,142)	(168,494)	(360,966)	(325,570)
Ending balance	$ 842,298	$ 689,849	$ 842,298	$ 689,849

Debt - Borrowings (Detail)

Debt - Borrowings (Detail) - USD ($) $ in Thousands	Jun. 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)	248,048	247,911
Secured loan agreements	74,038	38,455
Promissory notes	118,540	13,750
Total debt	1,229,599	993,067
5.5% Convertible senior notes due 2021 (the 2021 Notes)
Debt Instrument [Line Items]
Convertible senior notes	5,166	5,103
2.75% Convertible senior notes due 2044 (the 2044 Notes)
Debt Instrument [Line Items]
Convertible senior notes	163,269	160,258
Junior subordinated debentures (the 2035-2037 Notes)
Debt Instrument [Line Items]
Junior subordinated debentures (the 2035-2037 Notes)	121,984	121,940
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	145,140	145,078
7.50% Subordinated Notes due 2055
Debt Instrument [Line Items]
Subordinate Notes due 2055	$ 130,628	$ 130,572

Debt - Aggregate Scheduled Matu

Debt - Aggregate Scheduled Maturities of Borrowings (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Debt Disclosure [Abstract]
2,016	$ 3,617
2,017	33,690
2,018	35,921
2,019	160,798
2,020	26,576
Thereafter	985,539
Total scheduled payments	1,246,141
Unamortized deferred origination costs	(16,542)		$ (13,122)
Total debt	$ 1,229,599	$ 993,067

Debt - Aggregate Scheduled Ma71

Debt - Aggregate Scheduled Maturities of Borrowings (Footnotes) (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Convertible Notes Payable | 5.5% Convertible senior notes due 2021 (the 2021 Notes)
Debt Instrument [Line Items]
Unamortized OID	$ (795)
Senior Notes | 2.75% Convertible senior notes due 2044 (the 2044 Notes)
Debt Instrument [Line Items]
Unamortized OID	$ (48,352)

Debt - Credit Facilities (Detai

Debt - Credit Facilities (Details) - Line of Credit	Jun. 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	120,136,000
Credit agreement, remaining borrowing capacity	54,864,000
Other Letters of Credit
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	1,675,000
Letters of credit, outstanding amount	1,675,000
Credit agreement, remaining borrowing capacity	0
Lloyds | Letter of Credit
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	399,420,000
Letters of credit, outstanding amount	390,405,000
Credit agreement, remaining borrowing capacity	9,015,000
ING Bank N.V. and Deutsche Bank Netherlands N.V. [Member] | Letter of Credit
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	87,300,000
Letters of credit, outstanding amount	67,976,000
Credit agreement, remaining borrowing capacity	19,324,000
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	48,467,000
Credit agreement, remaining borrowing capacity	$ 26,533,000

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Debt Instrument [Line Items]
Interest expense (net of interest income)	$ 17,912	$ 11,472	$ 33,786	$ 23,553
Convertible Notes Payable
Debt Instrument [Line Items]
Interest expense (net of interest income)	3,116	3,016	6,232	6,031
Convertible Notes Payable | 5.5% Convertible senior notes due 2021 (the 2021 Notes)
Debt Instrument [Line Items]
Interest expense (net of interest income)	114	245	229	594
Senior Notes | 6.125% Notes due 2023
Debt Instrument [Line Items]
Interest expense (net of interest income)	3,896	3,896	7,793	7,793
Convertible Debt
Debt Instrument [Line Items]
Interest expense (net of interest income)	1,546	1,695	3,061	3,715
Junior Subordinated Debt | Trust Preferred Securities
Debt Instrument [Line Items]
Interest expense (net of interest income)	769	0	769	0
Subordinated Debt | 7.25% Subordinated Notes due 2055
Debt Instrument [Line Items]
Interest expense (net of interest income)	2,750	368	5,500	368
Subordinated Debt | 7.50% Subordinated Notes due 2055
Debt Instrument [Line Items]
Interest expense (net of interest income)	2,559	0	5,118	0
Secured loan agreements
Debt Instrument [Line Items]
Interest expense (net of interest income)	178	223	367	459
Promissory notes
Debt Instrument [Line Items]
Interest expense (net of interest income)	1,397	154	1,555	310
Other
Debt Instrument [Line Items]
Interest expense (net of interest income)	(634)	513	(1,414)	1,058
Revolving credit facility | Line of Credit
Debt Instrument [Line Items]
Interest expense (net of interest income)	1,098	728	2,254	1,544
Lloyds | Letter of Credit | Line of Credit
Debt Instrument [Line Items]
Interest expense (net of interest income)	$ 1,123	$ 634	$ 2,322	$ 1,681

Debt - Promissory Note (Details

Debt - Promissory Note (Details) - Delek Finance US Inc. - Promissory notes - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 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	$ 1,237,000	$ 1,237,000

Debt - Trusted Preferred Securi

Debt - Trusted Preferred Securities (Details)	6 Months Ended
	Jun. 30, 2016USD ($)trust
Debt Instrument [Line Items]
Number of trust preferred securities | trust	5
Junior Subordinated Debt | Three Month London Interbank Offered Rate [Member]
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	463.10%
Junior Subordinated Debt | RIG Capital Trust I | Three Month London Interbank Offered Rate [Member]
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	448.90%
Junior Subordinated Debt | RIG Capital Statutory Trust II | Three Month London Interbank Offered Rate [Member]
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	385.30%
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	385.30%
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	395.00%
Junior Subordinated Debt | RIG Capital Trust V | Three Month London Interbank Offered Rate [Member]
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 ($)	Apr. 06, 2016GBP (£)	Jun. 30, 2016USD ($)	Jun. 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			$ 363,000	$ 363,000
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				$ 86,000
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	6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Jun. 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	87,300	87,300	£ 76,650
Revolving credit facility	67,976	67,976	£ 61,239
Interest expense	$ 97	$ 97

Acquisition Costs and Other U78

Acquisition Costs and Other Underwriting Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Disclosure Summary Of Components Of Acquisition Costs And Other Underwriting Expenses [Abstract]
Policy acquisition expenses	$ 130,488	$ 97,578	$ 279,152	$ 211,196
Salaries and benefits	139,139	140,785	256,960	246,899
Other insurance general and administrative expenses	24,850	7,809	30,833	20,858
Acquisition costs and other underwriting expenses	$ 294,477	$ 246,172	$ 566,945	$ 478,953

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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Basic earnings per share:
Net income attributable to AmTrust common stockholders	$ 127,156	$ 45,786	$ 211,134	$ 179,303
Less: Net income allocated to participating securities and redeemable non-controlling interest	0	111	0	444
Net income allocated to AmTrust common shareholders	$ 127,156	$ 45,675	$ 211,134	$ 178,859
Weighted average common shares outstanding - basic (in shares)	173,182	165,120	174,346	163,904
Less: Weighted average participating shares outstanding (in shares)	0	404	0	410
Weighted average common shares outstanding - basic (in shares)	173,182	164,716	174,346	163,494
Net income per AmTrust Financial Services, Inc. common share - basic (usd per share)	$ 0.73	$ 0.28	$ 1.21	$ 1.09
Diluted earnings per share:
Net income allocated to AmTrust Financial Services, Inc. common shareholders	$ 127,156	$ 45,786	$ 211,134	$ 179,303
Less: Net income allocated to participating securities and redeemable non-controlling interest	0	111	0	444
Net income allocated to AmTrust common shareholders	$ 127,156	$ 45,675	$ 211,134	$ 178,859
Weighted average common shares outstanding - basic (in shares)	173,182	164,716	174,346	163,494
Plus: Dilutive effect of stock options, convertible debt, other (in shares)	1,865	3,352	1,881	3,622
Weighted average common shares outstanding - dilutive (in shares)	175,047	168,068	176,227	167,116
Net income per AmTrust Financial Services, Inc. common shares - diluted (usd per share)	$ 0.73	$ 0.27	$ 1.20	$ 1.07

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	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation			$ 5,901	$ 5,522	$ 11,542	$ 10,436
Stock split, conversion ratio	2
Stock Dividend Paid, Percentage		100.00%
Common Stock, Adjustment to Common Stock Outstanding Due to Stock Split, Percentage	100.00%
Share based Compensation, Decrease in Exercise Price Due to Stock Split, Percentage	50.00%
Stock options, expiration term					10 years
Share based award, vesting period					4 years
Exercise period of vested option after employment relationship end					3 months
Weighted average grant date fair value of options granted						$ 10.93
Intrinsic value of the stock option exercised					$ 7,436	$ 21,108
Intrinsic value of stock options			41,992		41,992		$ 66,300
Intrinsic value of the stock option exercisable			$ 41,617	$ 64,705	41,617	64,705
Proceeds from stock options exercised					1,249	3,835
Excess tax benefit from award exercised					$ 2,861	$ 6,254
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for stock award, maximum								14,630,136
Common stock remained available for grants			7,300,000		7,300,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost			$ 53,361		$ 53,361		$ 39,111
Restricted Stock Units (RSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based award, vesting period					1 year
Restricted Stock Units (RSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based award, vesting period					4 years

Share Based Compensation - Sche

Share Based Compensation - Schedule of Option Granted, Exercised and Expired (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Shares
Outstanding at beginning of period (shares)	2,783,880	3,868,740
Granted (shares)	0	85,000
Exercised (shares)	(345,137)	(907,086)
Canceled or terminated (shares)	0	(47,650)
Outstanding end of period (shares)	2,438,743	2,999,004
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)	3.79	4.40
Canceled or terminated (usd per share)	0	5.09
Outstanding end of period (usd per share)	$ 7.44	$ 6.84

Share Based Compensation (Weigh

Share Based Compensation (Weighted average assumptions) (Details)	6 Months Ended
	Jun. 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	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	6 Months Ended
	Jun. 30, 2016	Jun. 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)	846,180	462,856
Vested (shares)	(789,186)	(811,422)
Forfeited (shares)	(32,987)	(20,136)
Non-vested at end of period (shares)	1,877,523	2,242,320
Weighted-Average Grant Date Fair Value
Non-vested at beginning of period (usd per share)	$ 20.54	$ 16.71
Granted (usd per share)	26.03	29.16
Vested (usd per share)	17.45	14.40
Forfeited (usd per share)	23.73	20.35
Non-vested at end of period (usd per share)	$ 24.26	$ 20.08
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)	0
Non-vested at end of period (shares)	681,223	767,456
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	0
Non-vested at end of period (usd per share)	$ 25.57	$ 24.65

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Federal Income Tax Rate to Effective Tax Rate (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income before equity in earnings of unconsolidated subsidiaries and non-controlling interest	$ 163,554	$ 42,760	$ 273,524	$ 216,693
Tax at federal statutory rate of 35%	57,244	14,966	95,733	75,843
Foreign rate differential	(31,523)	(15,152)	(48,844)	(13,049)
Adjustment to prior year taxes	830	861	977	(27,659)
Permanent adjustments	3,886	(10,202)	(587)	(13,257)
Valuation allowance	(9,425)	0	(9,936)	0
Other, net	2,795	558	5,424	5,646
Provision for income taxes	$ 23,807	$ (8,969)	$ 42,767	$ 27,524
Effective tax rate	14.60%	(21.00%)	15.60%	12.70%

Income Taxes - Reconciliation86

Income Taxes - Reconciliation of Statutory Federal Income Tax Rate to Effective Tax Rate (Footnotes) (Detail)	6 Months Ended
	Jun. 30, 2016	Jun. 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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Operating Loss Carryforwards [Line Items]
Increase in effective tax rate	14.60%	(21.00%)	15.60%	12.70%
Operating loss carryforwards, limitation on use per year	$ 3,197,000		$ 3,197,000
Operating loss carryforwards, valuation allowance	159,004,000		159,004,000		$ 170,043,000
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 52,885,000		$ 52,885,000
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards					$ 675,422,000

Related Party Transactions (Mai

Related Party Transactions (Maiden) (Details) - USD ($)	1 Months Ended	3 Months Ended				6 Months Ended
	Apr. 30, 2011	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2007	Sep. 30, 2007	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2012	Apr. 01, 2011
Related Party Transaction [Line Items]
Reinsurance recoverable		$ 3,856,087,000	$ 2,799,007,000			$ 3,856,087,000	$ 2,799,007,000	$ 3,007,377,000
Brokerage commission		$ 124,306,000	96,160,000			$ 253,111,000	198,279,000
Maiden Reinsurance Company
Related Party Transaction [Line Items]
Percentage of capital stock		9.10%				9.10%
Assets managed under asset management agreement		$ 4,513,000,000				$ 4,513,000,000
Investment management fee						$ 3,342,000
Maiden
Related Party Transaction [Line Items]
Percentage of reinsurance brokerage commissions		1.25%				1.25%
Brokerage commission		$ 6,362,000	6,255,000			$ 13,224,000	12,860,000
Investment management fee		1,697,000	1,506,000				2,937,000
AII
Related Party Transaction [Line Items]
Premiums, percentage assumed to net, percentage					40.00%
Percentage of reinsurance related losses assumed					40.00%
Ceding commission percentage of ceded written premiums, 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						30 days
Increase (decrease) in stockholders equity, percentage						(50.00%)
Interest rate				0.90%
Interest expense on collateral loan		$ 568,000	$ 460,000
Maiden Insurance
Related Party Transaction [Line Items]
Ceding commission percentage of ceded written premiums, percentage										5.00%
Percentage of premiums										40.00%
Term of reinsurance agreement, in years	1 year
Reinsurance ceded profit ratio, percentage										50.00%
Chief Executive Officer | Maiden Reinsurance Company
Related Party Transaction [Line Items]
Percentage of capital stock		8.70%				8.70%
Director | Maiden Reinsurance Company
Related Party Transaction [Line Items]
Percentage of capital stock		2.30%				2.30%
Minimum | Maiden Reinsurance Company
Related Party Transaction [Line Items]
Asset management services fee 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, percentage									81.50%
Maximum | Maiden Reinsurance Company
Related Party Transaction [Line Items]
Asset management services fee percentage		0.20%				0.20%
Average value of assets under management						$ 1,000,000,000
Maximum | Maiden Insurance
Related Party Transaction [Line Items]
Reinsurance ceded loss ratio, percentage										65.00%
Maximum | Maiden | AII
Related Party Transaction [Line Items]
Reinsurance ceded loss ratio, percentage									95.00%
Retail Business | Maiden | AII
Related Party Transaction [Line Items]
Ceding commission percentage of ceded written premiums, 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						1,130,000	$ 909,000
Collateral debt issued by maiden insurance		$ 2,824,553,000				$ 2,824,553,000

Related Party Transactions (Res

Related Party Transactions (Results of Operations Related to Reinsurance Agreements) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Related Party Transaction [Line Items]
Change in unearned premium	$ (86,684)	$ (39,751)	$ (233,081)	$ (133,563)
Incurred loss and loss adjustment expense - ceded	784,393	638,475	1,499,466	1,251,758
Maiden
Related Party Transaction [Line Items]
Premium written - ceded	(529,267)	(522,435)	(1,072,955)	(1,050,720)
Change in unearned premium	40,704	89,077	127,402	217,692
Earned premium - ceded	(488,563)	(433,358)	(945,553)	(833,028)
Ceding commission on premium written	155,204	160,082	329,538	328,855
Ceding commission – deferred	(9,594)	(30,860)	(45,537)	(80,946)
Ceding commission - earned	145,610	129,222	284,001	247,909
Incurred loss and loss adjustment expense - ceded	$ 304,480	$ 336,540	$ 659,334	$ 585,930

Related Party Transactions (NGH

Related Party Transactions (NGHC) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)Entityshareholder	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Entityshareholder	Jun. 30, 2015USD ($)	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	$ 4,802	$ 4,042	$ 10,578	$ 9,571
Service and fee income (As restated)	$ 124,306	96,160	$ 253,111	198,279
NGHC
Related Party Transaction [Line Items]
Percentage of ownership in NGHC	12.00%		12.00%
Number of reportable entities | Entity	14		14
Equity in earnings of unconsolidated subsidiaries – related parties		3,819		9,348
License fee percentage	1.25%		1.25%
Developmental services, percentage	20.00%		20.00%
Technology services fee income	$ 11,276	10,353	$ 21,186	17,369
Assets managed under asset management agreement	2,453,320		2,453,320
Investment management fee	$ 807	613	1,600	1,139
Acquisition price			$ 7,500
Contribution towards payment for guaranties, percentage	50.00%		50.00%
Service and fee income (As restated)			$ 518
Maximum | NGHC
Related Party Transaction [Line Items]
Asset management services fee 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	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	50.00%		50.00%
800 Superior LLC | NGHC
Related Party Transaction [Line Items]
Percentage of ownership interest	50.00%		50.00%
Office lease expenses	$ 684	$ 664	$ 1,367	$ 1,266
4455 LBJ Freeway, LLC [Member] | NGHC
Related Party Transaction [Line Items]
Acquisition price			$ 21,050
Percentage of ownership interest	50.00%		50.00%		12.00%
Percentage of profits and losses						56.00%

Related Party Transactions (ACP

Related Party Transactions (ACP Re. Ltd) (Details) $ in Thousands	Sep. 15, 2014USD ($)	Sep. 30, 2014	Jun. 30, 2016USD ($)company	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)company	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Related Party Transaction [Line Items]
Gross written premium			$ 2,073,112	$ 1,678,388	$ 4,006,186	$ 3,409,524
Net earned premium			1,181,752	968,970	2,256,034	1,918,347
Loss and loss adjustment expense			784,393	638,475	1,499,466	1,251,758
Service and fee income (As restated)			124,306	96,160	253,111	198,279
Ceded reinsurance premiums payable			843,473	831,665	843,473	831,665	$ 651,051
Revolving credit facility			130,000		130,000		130,000
Interest income			2,187	2,211	4,375	4,399
NGHC
Related Party Transaction [Line Items]
Assets managed under asset management agreement			$ 2,453,320		2,453,320
Service and fee income (As restated)					$ 518
NGHC | AII | Aggregate Stop Loss Retrocession Contract
Related Party Transaction [Line Items]
Percentage of ceding commission	5.50%
NGHC | Maximum
Related Party Transaction [Line Items]
Asset management services fee 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			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
Ceded reinsurance premiums payable	$ 56,000
Reinsurance agreement, term, in years	5 years
NGHC | CP Re | AII | Aggregate Stop Loss Retrocession Contract
Related Party Transaction [Line Items]
Ceded reinsurance premiums payable	$ 56,000
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, percentage		2.00%
ANA
Related Party Transaction [Line Items]
Insurance commission, percentage	10.00%
Term of agreement	10 years
Service and fee income (As restated)					$ 1,487	2,058
ACP Re, Ltd
Related Party Transaction [Line Items]
Numbers of companies | company			10		10
Assets managed under asset management agreement			$ 507,671		$ 507,671
Management fees			226	358	457	824
Loans receivable			129,375		129,375		$ 129,375
Interest income			2,187	2,211	4,375	$ 4,399
ACP Re, Ltd | Commercial Lines Administrative Service Agreement [Member]
Related Party Transaction [Line Items]
Service and fee income (As restated)			$ 1,057	$ 6,447	$ 5,983
ACP Re, Ltd | AII
Related Party Transaction [Line Items]
Revolving credit facility	$ 125,000
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			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			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]
Revolving credit facility	$ 250,000
Debt instrument, stated interest rate (in percentage)	7.00%		7.00%		7.00%
Foreign Subsidiaries | ACP Re, Ltd | NG Re | AII
Related Party Transaction [Line Items]
Stock pledged as collateral, percentage	65.00%
US Subsidiaries | ACP Re, Ltd | NG Re | AII
Related Party Transaction [Line Items]
Stock pledged as collateral, percentage	100.00%

Related Party Transactions - Ad

Related Party Transactions - Additional information (Detail) $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended
	Aug. 31, 2015USD ($)	Feb. 28, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Related Party Transaction [Line Items]
Ceded reinsurance premiums payable			$ 843,473	$ 831,665	$ 843,473	$ 831,665	$ 651,051
Equity in earnings of unconsolidated subsidiary – related party			$ 4,802	4,042	$ 10,578	9,571
NGHC
Related Party Transaction [Line Items]
Percentage of ownership			12.00%		12.00%
Equity in earnings of unconsolidated subsidiary – related party				3,819		9,348
Aircraft rental and landing fees			$ 27		$ 40
Maiden
Related Party Transaction [Line Items]
Aircraft rental and landing fees			17		39
59 Maiden Lane Associates, LLC
Related Party Transaction [Line Items]
Lease payments			356	483	738	948
33 West Monroe Associates, LLC
Related Party Transaction [Line Items]
Lease payments			65	195	197	270
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			172	223	445	223
ACP Re, Ltd | Illinois Center Building
Related Party Transaction [Line Items]
Ownership interest, LP	15.00%
Equity in earnings of unconsolidated subsidiary – related party					1,154
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					1,747
Profit interest, GP	0.10
Chief Operating Officer | Maiden
Related Party Transaction [Line Items]
Aircraft rental and landing fees			404	$ 122	484	$ 334
Variable Interest Entity, Not Primary Beneficiary, Aggregated Disclosure | Other investments
Related Party Transaction [Line Items]
VIE, Carrying amount, assets and liabilities, net			68,186		68,186		64,869
Maximum loss exposure, amount			$ 68,186		$ 68,186		$ 64,869

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) $ / shares in Units, £ in Thousands, $ in Thousands	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 ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)
Business Acquisition [Line Items]
Gross written premium											$ 2,073,112	$ 1,678,388	$ 4,006,186	$ 3,409,524
Service and fee income (As restated)											124,306	$ 96,160	253,111	$ 198,279
Share price (in dollars per share) | $ / shares							$ 69
Company recovered (paid)											(1,060)		9,440
N.V. Nationale Borg-Maatschappij and Affiliates
Business Acquisition [Line Items]
Acquisition price	$ 179,583	£ 161,350
Gross written premium											9,495
Goodwill and intangible assets	55,424
Accrued liabilities acquired	$ 29,196
First Nationwide Title Agency
Business Acquisition [Line Items]
Acquisition price			$ 24,200
Contingent consideration, term			4 years
Genworth
Business Acquisition [Line Items]
Acquisition price				$ 54,500
Gross written premium											4,300		4,300
Payment towards acquisition				54,500
Accrued liabilities acquired				$ 13,060
Republic
Business Acquisition [Line Items]
Acquisition price					$ 232,693
Gross written premium											153,126
Payment towards acquisition										$ 113,456
Number of quarterly payments | installment					19
Periodic payment					$ 800
Service and fee income (As restated)											1,544
Goodwill and intangible assets					128,714
Accrued liabilities acquired					$ 130,221
Springfield
Business Acquisition [Line Items]
Gross written premium											1,760		4,878
Contingent consideration, term								5 years
Payment towards acquisition								$ 26,574
Service and fee income (As restated)											428		842
Contingent consideration liability								5,000
Goodwill and intangible assets								4,253
Accrued liabilities acquired								$ 4,199
ARI Mutual Insurance Company
Business Acquisition [Line Items]
Acquisition price							$ 3,819
Gross written premium											12,227		25,610
Payment towards acquisition							23,500
Subscriptions received							$ 276
Shares issued by the company as a part of the agreement | shares							12,347
Price per share, discount							20.00%
Payments to employees							$ 3,750
Intangible assets							1,097
Accrued liabilities acquired							$ 7,968
Warranty Solutions
Business Acquisition [Line Items]
Gross written premium									$ 22,290				46,008
Payment towards acquisition									156,247
Service and fee income (As restated)									20,615				44,934
Goodwill and intangible assets									$ 84,215
Number of agencies | agency									70
Number of franchised and independent dealers acquired | dealer									1,500
Accrued liabilities acquired									$ 85,171
Magna Cater
Business Acquisition [Line Items]
Intangible assets						$ 1,000
Reinsured percentage, acquired (in percentage)						100.00%
Acquisition of loss Portfolio (in percentage)						100.00%
Cash acquired from acquisition						$ 163,400
Accrued liabilities acquired						$ 163,400
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Acquisition price											$ 12,000		$ 12,000
Promissory Note | Republic
Business Acquisition [Line Items]
Liabilities incurred for the acquisition										104,685
Minority Owners of Republic [Member] | Promissory Note | Republic
Business Acquisition [Line Items]
Liabilities incurred for the acquisition										$ 15,200

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 ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Sep. 25, 2015USD ($)
Business Acquisition [Line Items]
Acquisition gain							$ 39,097	$ 0	$ 48,775	$ 0
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	55,424
Total assets including goodwill	312,470
Loss and loss expense reserves	78,909
Unearned premiums	24,782
Accrued liabilities	29,196
Total liabilities	132,887
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				625,023
Other assets				220,004
Deferred tax asset				41,743
Property and equipment				435
Goodwill and intangible assets				128,714
Total assets				1,727,221
Loss and loss expense reserves				885,898
Unearned premiums				301,972
Trust Preferred Outstanding				93,106
Accrued liabilities				130,221
Funds held under reinsurance treaties				83,331
Total liabilities				1,494,528
Acquisition price				$ 232,693
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 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 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 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											22,466
Deferred tax asset											50,399
Goodwill and intangible assets											84,215
Total assets including goodwill											426,872
Loss and loss expense reserves											3,013
Unearned premiums											182,441
Accrued liabilities											85,171
Total liabilities											$ 270,625

New Market Tax Credit (Details)

New Market Tax Credit (Details) $ in Thousands	1 Months Ended	6 Months Ended		12 Months Ended
	Sep. 30, 2012	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2012USD ($)LoansCDE
Schedule of Tax Credit [Line Items]
Proceeds from financing transaction		$ 366,860	$ 48,819
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 | Loans				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 Accumu96

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

Shareholder Equity and Accumu97

Shareholder Equity and Accumulated Other Comprehensive Income (Loss) (Preferred Stock Issuance) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Class of Stock [Line Items]
Net income attributable to non-controlling interest and redeemable non-controlling interest of subsidiaries		$ (5,817)	$ (1,346)	$ (9,834)	$ (5,429)
Preferred stock, par value (usd per share)		$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Liquidation preference, per share (usd per share)		25		25
Underwriting discount, commissions and expenses, which were recognized as a reduction to additional paid-in capital	$ 4,680
American Depository Shares
Class of Stock [Line Items]
Shares issued by the company as a part of the agreement	5,750,000
New issues, percentage of preferred share, per share (percentage)	$ 0.025
Proceeds from issuance of equity	$ 139,070
Noncumulative Preferred Stock
Class of Stock [Line Items]
Dividend rate (percentage)	7.75%
Preferred stock, par value (usd per share)		0.01		0.01
Liquidation preference, per share (usd per share)		$ 1,000		$ 1,000

Shareholder Equity and Accumu98

Shareholder Equity and Accumulated Other Comprehensive Income (Loss) - Ownership Components of Total Equity (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 2,900,235	$ 2,071,394
Net income			(240,994)	(198,082)
Unrealized holding gain (loss)	$ 108,373	$ (60,298)	191,347	(52,106)
Reclassification adjustment	(7,617)	(790)	(8,045)	(1,205)
Foreign currency translation			(80,007)	(26,848)
Unrealized gain on interest rate swap	168	163	287	190
Extinguishment of 2021 senior notes, equity component			0	(3,345)
Share exercises, compensation and other			4,421	8,455
Common share (purchase) issuance, net			(103,164)	171,672
Common share dividends			(62,418)	(41,249)
Preferred stock dividends	(11,576)	(8,639)	(20,367)	(14,008)
Capital contribution (distribution), net			5,500	(1,478)
Ending Balance	3,207,853	2,486,083	3,207,853	2,486,083
Net income related to redeemable non-controlling interest	(5,817)	(1,346)	(9,834)	(5,429)
Non-Controlling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			176,455	159,181
Net income			(9,493)	(4,771)
Foreign currency translation				14
Common share dividends			(10,229)
Capital contribution (distribution), net			5,500	(1,478)
Ending Balance	181,219	162,488	181,219	162,488
Net income related to redeemable non-controlling interest			(341)	(658)
AmTrust
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			2,723,780	1,912,213
Unrealized holding gain (loss)			191,347	(52,106)
Reclassification adjustment			(8,045)	(1,205)
Foreign currency translation			(80,007)	(26,862)
Unrealized gain on interest rate swap			287	190
Extinguishment of 2021 senior notes, equity component			0	(3,345)
Share exercises, compensation and other			4,421	8,455
Common share dividends			(52,189)	(41,249)
Preferred stock dividends			(20,367)	(14,008)
Ending Balance	$ 3,026,634	$ 2,323,595	3,026,634	2,323,595
Preferred stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred stock issuance, net of fees			139,070	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			$ (103,164)	$ 171,672

Shareholder Equity and Accumu99

Shareholder Equity and Accumulated Other Comprehensive Income (Loss) - AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (97,921)	$ 10,854	$ (133,392)	$ 60,577
Other comprehensive income (loss) before reclassifications	126,379	(61,850)	207,026	(106,733)
Amounts reclassed from accumulated other comprehensive loss	(3,920)	(1,216)	(4,578)	(1,854)
Income tax benefit (expense)	(54,344)	32,806	(98,862)	28,604
Other comprehensive income (loss), net of tax	68,115	(30,260)	103,586	(79,983)
Ending balance	(29,806)	(19,406)	(29,806)	(19,406)
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(145,268)	(66,349)	(98,074)	(8,822)
Other comprehensive income (loss) before reclassifications	(32,809)	30,665	(80,003)	(26,862)
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	(32,809)	30,665	(80,003)	(26,862)
Ending balance	(178,077)	(35,684)	(178,077)	(35,684)
Unrealized Gains (Losses) on Investments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	48,035	81,290	(34,511)	73,513
Other comprehensive income (loss) before reclassifications	158,930	(92,766)	286,588	(80,163)
Amounts reclassed from accumulated other comprehensive loss	(3,920)	(1,216)	(4,578)	(1,854)
Income tax benefit (expense)	(54,254)	32,894	(98,708)	28,706
Other comprehensive income (loss), net of tax	100,756	(61,088)	183,302	(53,311)
Ending balance	148,791	20,202	148,791	20,202
Interest Rate Swap Hedge
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(581)	(1,294)	(700)	(1,321)
Other comprehensive income (loss) before reclassifications	258	251	441	292
Amounts reclassed from accumulated other comprehensive loss	0	0	0	0
Income tax benefit (expense)	(90)	(88)	(154)	(102)
Other comprehensive income (loss), net of tax	168	163	287	190
Ending balance	(413)	(1,131)	(413)	(1,131)
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 Li100

Commitment and Contingent Liabilities (Narrative) (Details) $ in Thousands	1 Months Ended
	Apr. 30, 2016USD ($)
ANV Holdings B.V. And Affiliates
Business Acquisition [Line Items]
Acquisition price	$ 218,700

Segments - Results of Operation

Segments - Results of Operations of Business Segments (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)segment	Jun. 30, 2015USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment			3
Gross written premium	$ 2,073,112	$ 1,678,388	$ 4,006,186	$ 3,409,524
Net written premium	1,268,436	1,008,721	2,489,115	2,051,910
Change in unearned premium	(86,684)	(39,751)	(233,081)	(133,563)
Net earned premium	1,181,752	968,970	2,256,034	1,918,347
Loss and loss adjustment expense	(784,393)	(638,475)	(1,499,466)	(1,251,758)
Acquisition costs and other underwriting expenses (As restated)	(294,477)	(246,172)	(566,945)	(478,953)
Operating Expenses	(1,078,870)	(884,647)	(2,066,411)	(1,730,711)
Underwriting income (As restated)	102,882	84,323	189,623	187,636
Service and fee income (As restated)	124,306	96,160	253,111	198,279
Investment income and realized gain	65,844	33,641	123,234	83,867
Other expenses (As restated)	(134,344)	(101,136)	(263,611)	(202,096)
Interest expense (As restated)	(17,912)	(11,472)	(33,786)	(28,267)
Foreign currency loss (As restated)	(28,995)	(61,852)	(67,228)	(37,195)
Gain (loss) on life settlement contracts	12,676	3,096	23,406	14,469
Gain on acquisition	39,097	0	48,775	0
(Provision) benefit for income taxes (As restated)	(23,807)	8,969	(42,767)	(27,524)
Equity in earnings of unconsolidated subsidiary – related party	4,802	4,042	10,578	9,571
Net income	144,549	55,771	241,335	198,740
Operating Segments
Segment Reporting Information [Line Items]
Net earned premium	1,181,752	968,970	2,256,034	1,918,347
Operating Segments | Small Commercial Business
Segment Reporting Information [Line Items]
Gross written premium	1,060,558	875,828	2,126,690	1,776,947
Net written premium	601,638	517,392	1,226,166	1,040,632
Change in unearned premium	(28,660)	(34,333)	(149,094)	(133,582)
Net earned premium	572,978	483,059	1,077,072	907,050
Loss and loss adjustment expense	(382,950)	(314,344)	(715,634)	(588,690)
Acquisition costs and other underwriting expenses (As restated)	(150,149)	(129,217)	(283,681)	(239,287)
Operating Expenses	(533,099)	(443,561)	(999,315)	(827,977)
Underwriting income (As restated)	39,879	39,498	77,757	79,073
Service and fee income (As restated)	25,745	25,042	58,282	51,675
Investment income and realized gain	28,193	15,604	55,047	38,850
Other expenses (As restated)	(34,321)	(26,387)	(69,968)	(52,663)
Interest expense (As restated)	(9,180)	(5,989)	(17,935)	(14,732)
Foreign currency loss (As restated)	0	0	0	0
Gain (loss) on life settlement contracts	6,507	1,619	12,425	7,540
Gain on acquisition	(9,223)		455
(Provision) benefit for income taxes (As restated)	(6,256)	(1,077)	(17,471)	(13,350)
Equity in earnings of unconsolidated subsidiary – related party	0		0	0
Net income	41,344	48,310	98,592	96,393
Operating Segments | Specialty Risk and Extended Warranty
Segment Reporting Information [Line Items]
Gross written premium	651,561	479,863	1,181,007	950,733
Net written premium	447,061	306,784	784,894	594,473
Change in unearned premium	(89,177)	(22,816)	(105,169)	18,626
Net earned premium	357,884	283,968	679,725	613,099
Loss and loss adjustment expense	(231,328)	(185,345)	(442,264)	(393,985)
Acquisition costs and other underwriting expenses (As restated)	(78,773)	(58,442)	(151,624)	(129,254)
Operating Expenses	(310,101)	(243,787)	(593,888)	(523,239)
Underwriting income (As restated)	47,783	40,181	85,837	89,860
Service and fee income (As restated)	69,155	50,193	143,539	107,188
Investment income and realized gain	19,506	11,807	38,676	28,547
Other expenses (As restated)	(21,154)	(14,446)	(38,856)	(28,177)
Interest expense (As restated)	(5,612)	(3,314)	(9,960)	(7,882)
Foreign currency loss (As restated)	(28,995)	(61,852)	(67,228)	(37,195)
Gain (loss) on life settlement contracts	3,961	942	6,900	4,035
Gain on acquisition	48,320		48,320
(Provision) benefit for income taxes (As restated)	(19,030)	7,997	(31,195)	(19,021)
Equity in earnings of unconsolidated subsidiary – related party	0	0	0	0
Net income	113,934	31,508	176,033	137,355
Operating Segments | Specialty Program
Segment Reporting Information [Line Items]
Gross written premium	360,993	322,697	698,489	681,844
Net written premium	219,737	184,545	478,055	416,805
Change in unearned premium	31,153	17,398	21,182	(18,607)
Net earned premium	250,890	201,943	499,237	398,198
Loss and loss adjustment expense	(170,115)	(138,786)	(341,568)	(269,083)
Acquisition costs and other underwriting expenses (As restated)	(65,555)	(58,513)	(131,640)	(110,412)
Operating Expenses	(235,670)	(197,299)	(473,208)	(379,495)
Underwriting income (As restated)	15,220	4,644	26,029	18,703
Service and fee income (As restated)	1,228	32	1,517	365
Investment income and realized gain	18,211	6,216	29,511	16,366
Other expenses (As restated)	(11,697)	(9,735)	(22,981)	(20,208)
Interest expense (As restated)	(3,120)	(2,169)	(5,891)	(5,653)
Foreign currency loss (As restated)	0	0	0	0
Gain (loss) on life settlement contracts	2,208	535	4,081	2,894
Gain on acquisition	0		0
(Provision) benefit for income taxes (As restated)	(3,184)	1,116	(4,857)	(1,516)
Equity in earnings of unconsolidated subsidiary – related party	0	0	0	0
Net income	18,866	639	27,409	10,951
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 (As restated)	0	0	0	0
Operating Expenses	0	0	0	0
Underwriting income (As restated)	0	0	0	0
Service and fee income (As restated)	28,178	20,893	49,773	39,051
Investment income and realized gain	(66)	14	0	104
Other expenses (As restated)	(67,172)	(50,568)	(131,806)	(101,048)
Interest expense (As restated)	0	0	0	0
Foreign currency loss (As restated)	0	0	0	0
Gain (loss) on life settlement contracts	0	0	0	0
Gain on acquisition	0		0
(Provision) benefit for income taxes (As restated)	4,663	933	10,756	6,363
Equity in earnings of unconsolidated subsidiary – related party	4,802	4,042	10,578	9,571
Net income	(29,595)	(24,686)	(60,699)	(45,959)
Workers' compensation | Operating Segments
Segment Reporting Information [Line Items]
Net earned premium	558,598	409,047	1,012,354	778,714
Workers' compensation | Operating Segments | Small Commercial Business
Segment Reporting Information [Line Items]
Net earned premium	358,894	322,703	704,937	614,768
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	199,704	86,344	307,417	163,946
Warranty | Operating Segments
Segment Reporting Information [Line Items]
Net earned premium	179,169	144,316	347,502	295,847
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	179,169	144,316	347,502	295,847
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	46,105	82,243	162,648	166,093
Other liability | Operating Segments | Small Commercial Business
Segment Reporting Information [Line Items]
Net earned premium	0	14,425	5,249	24,944
Other liability | Operating Segments | Specialty Risk and Extended Warranty
Segment Reporting Information [Line Items]
Net earned premium	33,305	32,485	74,018	65,296
Other liability | Operating Segments | Specialty Program
Segment Reporting Information [Line Items]
Net earned premium	12,800	35,333	83,381	75,853
Commercial auto and liability, physical damage | Operating Segments
Segment Reporting Information [Line Items]
Net earned premium	151,278	110,670	280,817	201,263
Commercial auto and liability, physical damage | Operating Segments | Small Commercial Business
Segment Reporting Information [Line Items]
Net earned premium	111,992	67,491	197,896	119,411
Commercial auto and liability, physical damage | Operating Segments | Specialty Risk and Extended Warranty
Segment Reporting Information [Line Items]
Net earned premium	8,684	8,714	17,176	12,154
Commercial auto and liability, physical damage | Operating Segments | Specialty Program
Segment Reporting Information [Line Items]
Net earned premium	30,602	34,465	65,745	69,698
Medical malpractice | Operating Segments
Segment Reporting Information [Line Items]
Net earned premium	62,733	40,143	106,750	76,454
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	62,733	40,143	106,750	76,454
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	183,869	182,551	345,963	399,976
Other | Corporate and Other | Small Commercial Business
Segment Reporting Information [Line Items]
Net earned premium	102,092	78,440	168,990	147,927
Other | Corporate and Other | Specialty Risk and Extended Warranty
Segment Reporting Information [Line Items]
Net earned premium	73,993	58,310	134,279	163,348
Other | Corporate and Other | Specialty Program
Segment Reporting Information [Line Items]
Net earned premium	$ 7,784	$ 45,801	$ 42,694	$ 88,701

Segments - Long Lived Assets an

Segments - Long Lived Assets and Total Assets of Business Segments (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Segment Reporting Information [Line Items]
Total assets	$ 21,166,834	$ 17,266,051	$ 16,044,647
Operating Segments
Segment Reporting Information [Line Items]
Total assets	21,166,834	17,266,051
Operating Segments | Small Commercial Business
Segment Reporting Information [Line Items]
Total assets	9,960,183	7,870,360
Operating Segments | Specialty Risk and Extended Warranty
Segment Reporting Information [Line Items]
Total assets	7,001,339	6,420,747
Operating Segments | Specialty Program
Segment Reporting Information [Line Items]
Total assets	4,205,312	2,972,538
Operating Segments | Corporate and Other
Segment Reporting Information [Line Items]
Total assets	$ 0	$ 2,406

Subsequent Event - Additional I

Subsequent Event - Additional Information (Detail) € in Thousands, $ in Thousands	Jul. 01, 2016USD ($)shares	Oct. 31, 2014USD ($)	Oct. 31, 2014EUR (€)	Jul. 29, 2016USD ($)	Jul. 15, 2016arbitration	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Oct. 31, 2014EUR (€)	Sep. 15, 2014USD ($)
Subsequent Event [Line Items]
Loss Contingency, Estimate of Possible Loss		$ 106						€ 95,800
Insurance Commissions		46,800	€ 42,200
Insurance Commission Payable		$ 54,100						€ 48,700
Revolving credit facility						$ 130,000	$ 130,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Debt Instrument, Interest Rate, Stated Percentage, Paid in kind, Maximum				1.20%
Related Party Transaction, Change in Ownership, Percentage				50.00%
Commitment and Contingencies, Number of Arbitration | arbitration					2
Related Party Transaction, Asset to be Maintained, Percentage of the Value				115.00%
Common stock | Subsequent Event [Member]
Subsequent Event [Line Items]
Shares repurchased during the period | shares	1,689,875
Shares repurchased, value	$ 41,299,640
ACP Re, Ltd | NG Re
Subsequent Event [Line Items]
Revolving credit facility									$ 125,000
AII | ACP Re, Ltd
Subsequent Event [Line Items]
Revolving credit facility									125,000
AII | ACP Re, Ltd | NG Re
Subsequent Event [Line Items]
Revolving credit facility									$ 250,000
Debt instrument, stated interest rate (in percentage)						7.00%			7.00%
AII | ACP Re, Ltd | NG Re | Subsequent Event [Member]
Subsequent Event [Line Items]
Revolving credit facility				$ 250,000
Debt instrument, stated interest rate (in percentage)				3.70%