SiriusPoint (SPNT) 10-K 24 Feb 17 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Feb. 21, 2017	Jun. 30, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Third Point Reinsurance Ltd.
Entity Central Index Key	1,576,018
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		106,487,314
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 624.6

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Equity securities, trading, at fair value (cost - $1,385,866; 2015 - $1,156,369)	$ 1,506,854	$ 1,231,077
Debt securities, trading, at fair value (cost - $1,036,716; 2015 - $1,049,652)	1,057,957	1,034,247
Other investments, at fair value	82,701	51,920
Total investments in securities	2,647,512	2,317,244
Cash and cash equivalents	9,951	20,407
Restricted cash and cash equivalents	298,940	330,915
Due from brokers	284,591	326,971
Derivative assets, at fair value	27,432	35,337
Interest and dividends receivable	6,505	10,687
Reinsurance balances receivable	381,951	294,313
Deferred acquisition costs, net	221,618	197,093
Other assets	17,144	12,141
Total assets	3,895,644	3,545,108
Liabilities
Accounts payable and accrued expenses	10,321	11,966
Reinsurance balances payable	43,171	24,119
Deposit liabilities	104,905	83,955
Unearned premium reserves	557,076	531,710
Loss and loss adjustment expense reserves	605,129	466,047
Securities sold, not yet purchased, at fair value	92,668	314,353
Securities sold under an agreement to repurchase	0	8,944
Due to brokers	899,601	574,962
Derivative liabilities, at fair value	16,050	15,392
Interest and dividends payable	3,443	4,400
Senior notes payable, net of deferred costs	113,555	113,377
Total liabilities	2,445,919	2,149,225
Commitments and contingent liabilities
Shareholders’ equity
Preference shares (par value $0.10; authorized, 30,000,000; none issued)	0	0
Common shares (par value $0.10; authorized, 300,000,000; issued and outstanding, 106,501,299 (2015 - 105,479,341))	10,650	10,548
Treasury Stock, Value	7,389	0
Additional paid-in capital	1,094,568	1,080,591
Retained earnings	316,222	288,587
Total shareholders’ equity	1,414,051	1,379,726
Non-controlling interests	35,674	16,157
Shareholders’ equity attributable to shareholders	1,449,725	1,395,883
Total liabilities and shareholders’ equity	$ 3,895,644	$ 3,545,108

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Equity securities, trading, at fair value (cost - $1,385,866; 2015 - $1,156,369)	$ 1,385,866	$ 1,156,369
Debt securities, trading, at fair value (cost - $1,036,716; 2015 - $1,049,652)	$ 1,036,716	$ 1,049,652
Shareholders’ equity
Preference shares, par value (in dollars per share)	$ 0.10	$ 0.10
Preference shares, shares authorized (in shares)	30,000,000	30,000,000
Preference shares, shares issued (in shares)	0	0
Preference shares, shares outstanding (in shares)	0	0
Common share, par value (in dollars per share)	$ 0.10	$ 0.10
Common share, shares authorized (in shares)	300,000,000	300,000,000
Common share, shares issued (in shares)	106,501,299	105,479,341
Common share, shares outstanding (in shares)	106,501,299	105,479,341
Treasury Stock, Shares	644,768	0

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Gross premiums written	$ 80,779	$ 142,573	$ 196,866	$ 197,156	$ 99,155	$ 205,583	$ 184,342	$ 213,334	$ 617,374	$ 702,414	$ 613,300
Gross premiums ceded	27	(927)	(1,425)	0	(24)	(375)	(1,425)	(52)	(2,325)	(1,876)	(150)
Net premiums written	80,806	141,646	195,441	197,156	99,131	205,208	182,917	213,282	615,049	700,538	613,150
Change in net unearned premium reserves	111,277	(13,463)	(62,319)	(60,354)	35,235	3,597	(62,339)	(74,207)	(24,859)	(97,714)	(168,618)
Net premiums earned	192,083	128,183	133,122	136,802	134,366	208,805	120,578	139,075	590,190	602,824	444,532
Net investment income (loss)	(35,767)	88,356	86,346	(40,110)	61,553	(193,156)	38,611	64,918	98,825	(28,074)	85,582
Total revenues	156,316	216,539	219,468	96,692	195,919	15,649	159,189	203,993	689,015	574,750	530,114
Expenses
Loss and loss adjustment expenses incurred, net	122,110	85,015	104,131	84,676	98,855	158,537	76,053	81,746	395,932	415,191	283,147
Acquisition costs, net	76,854	45,127	48,482	51,687	38,552	50,509	47,498	54,657	222,150	191,216	137,206
General and administrative expenses	5,482	12,354	10,243	11,288	10,236	9,822	14,267	11,708	39,367	46,033	40,008
Other expenses	2,161	347	3,173	2,706	2,928	670	2,315	2,701	8,387	8,614	7,395
Interest expense	2,068	2,069	2,046	2,048	2,074	2,074	2,052	1,036	8,231	7,236	0
Foreign currency gain (loss)	(5,162)	(3,905)	(8,068)	(2,386)	(2,396)	(746)	139	(193)	(19,521)	(3,196)	0
Total expenses	203,513	141,007	160,007	150,019	150,249	220,866	142,324	151,655	654,546	665,094	467,756
Income (loss) before income tax (expense) benefit	(47,197)	75,532	59,461	(53,327)	45,670	(205,217)	16,865	52,338	34,469	(90,344)	62,358
Income tax (expense) benefit	272	(2,484)	(5,310)	1,929	(2,863)	7,781	(708)	(1,305)	(5,593)	2,905	(5,648)
Income (loss) including non-controlling interests	(46,925)	73,048	54,151	(51,398)	42,807	(197,436)	16,157	51,033	28,876	(87,439)	56,710
(Income) loss attributable to non-controlling interests	232	(967)	(775)	269	(614)	1,721	(495)	(563)	(1,241)	49	(6,315)
Net income (loss)	$ (46,693)	$ 72,081	$ 53,376	$ (51,129)	$ 42,193	$ (195,715)	$ 15,662	$ 50,470	$ 27,635	$ (87,390)	$ 50,395
Earnings (loss) per share
Basic (in dollars per share)	$ (0.45)	$ 0.69	$ 0.51	$ (0.49)	$ 0.40	$ (1.88)	$ 0.15	$ 0.48	$ 0.26	$ (0.84)	$ 0.48
Diluted (in dollars per share)	$ (0.45)	$ 0.68	$ 0.51	$ (0.49)	$ 0.39	$ (1.88)	$ 0.15	$ 0.47	$ 0.26	$ (0.84)	$ 0.47
Weighted average number of ordinary shares used in the determination of earnings (loss) per share
Basic (in shares)	104,072,283	103,780,196	104,132,797	104,257,874	104,217,321	104,117,448	103,927,761	103,753,065	104,060,052	104,003,820	103,287,693
Diluted (in shares)	104,072,283	105,795,313	105,233,921	104,257,874	106,635,451	104,117,448	106,696,874	106,144,183	105,563,784	104,003,820	106,391,059

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common shares / Share Capital	Treasury Stock [Member]	Additional paid-in capital	Retained earnings	Shareholders’ equity attributable to shareholders	Non-controlling interests	Non-controlling interestsCatastrophe Fund	Non-controlling interestsCatastrophe Fund Manager
Treasury Stock, Value, Acquired, Cost Method			$ 0
Shares issued and outstanding, beginning of year at Dec. 31, 2013		$ 10,389	0	$ 1,055,690	$ 325,582		$ 118,735
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares		58		541
Share compensation expense				9,258
Income including non-controlling interests	$ 50,395				56,710
(Income) loss attributable to non-controlling interests	(6,315)				(6,315)
Non-controlling interest in investment affiliate, net							(31,066)
Non-controlling interest								$ 6,151	$ 0
Income (loss) attributable to non-controlling interests	56,710						6,315
Balance. end of period at Dec. 31, 2014	1,552,048	10,447	0	1,065,489	375,977		100,135
Stockholders' Equity Attributable to Parent						$ 1,451,913
Treasury Stock, Value, Acquired, Cost Method			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares		101		4,231
Share compensation expense				10,871
Income including non-controlling interests	(87,390)				(87,439)
(Income) loss attributable to non-controlling interests	49				49
Non-controlling interest in investment affiliate, net							(24,137)
Non-controlling interest								(60,032)	240
Income (loss) attributable to non-controlling interests	(87,439)						(49)
Balance. end of period at Dec. 31, 2015	1,395,883	10,548	0	1,080,591	288,587		16,157
Stockholders' Equity Attributable to Parent	1,379,726					1,379,726
Treasury Stock, Value, Acquired, Cost Method			(7,389)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares		102		5,039
Share compensation expense				8,938
Income including non-controlling interests	27,635				28,876
(Income) loss attributable to non-controlling interests	(1,241)
Non-controlling interest in investment affiliate, net							18,276
Non-controlling interest								$ 0	$ 0
Income (loss) attributable to non-controlling interests	28,876						1,241
Balance. end of period at Dec. 31, 2016	1,449,725	$ 10,650	$ (7,389)	$ 1,094,568	$ 316,222		$ 35,674
Stockholders' Equity Attributable to Parent	$ 1,414,051					$ 1,414,051

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Cash Flows [Abstract]
Income (loss) including non-controlling interests	$ 28,876	$ (87,439)	$ 56,710
Adjustments to reconcile income (loss) including non-controlling interests to net cash provided by operating activities:
Share compensation expense	8,938	10,871	9,258
Net interest (income) expense on deposit liabilities	(164)	6,471	4,346
Net unrealized (gain) loss on investments and derivatives	(72,083)	32,354	85,057
Net realized gain on investments and derivatives	(33,179)	(16,655)	(193,957)
Net foreign exchange gains	19,521	3,196	0
Net foreign exchange gains	5,118	324	(1,044)
Changes in assets and liabilities:
Reinsurance balances receivable	(86,612)	8,768	(111,886)
Deferred acquisition costs, net	(24,525)	(41,192)	(64,708)
Other assets	(5,003)	(7,815)	8,349
Interest and dividends receivable, net	3,225	(4,382)	(38)
Unearned premium reserves	25,366	97,901	168,622
Loss and loss adjustment expense reserves	(156,644)	(192,433)	(143,031)
Accounts payable and accrued expenses	(2,095)	1,881	629
Reinsurance balances payable	19,786	(2,548)	18,061
Net cash provided by operating activities	4,771	187,776	122,430
Investing activities
Purchases of investments	(3,729,944)	(3,360,626)	(3,114,906)
Proceeds from sales of investments	3,504,598	2,829,523	2,857,404
Purchases of investments to cover short sales	(1,264,404)	(543,936)	(232,568)
Proceeds from short sales of investments	1,046,422	792,344	278,569
Change in due to/from brokers, net	367,019	(6,377)	307,884
Decrease in securities purchased under an agreement to sell	0	29,852	8,294
Increase (decrease) in securities sold under an agreement to repurchase	(8,944)	8,944	0
Change in restricted cash and cash equivalents	31,975	86,392	(223,730)
Net cash used in investing activities	(53,278)	(163,884)	(119,053)
Financing activities
Proceeds from issuance of common shares, net of costs	5,141	4,332	599
Purchases of common shares under share repurchase program	(7,389)	0	0
Proceeds from issuance of senior notes payable, net of costs	0	113,220	0
Increase (decrease) in deposit liabilities, net	22,023	(65,842)	18,048
Non-controlling interest in investment affiliate, net	18,276	(24,137)	(31,066)
Non-controlling interest in Catastrophe Fund	0	(60,032)	6,151
Non-controlling interest in Catastrophe Fund Manager	0	240	0
Net cash provided by (used in) financing activities	38,051	(32,219)	(6,268)
Net increase (decrease) in cash and cash equivalents	(10,456)	(8,327)	(2,891)
Cash and cash equivalents at beginning of year	20,407	28,734	31,625
Cash and cash equivalents at end of year	9,951	20,407	28,734
Supplementary information
Interest paid in cash	23,027	9,311	3,237
Income taxes paid in cash	$ 5,950	$ 4,429	$ 3,056

Organization

Organization	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Third Point Reinsurance Ltd. (together with its wholly and majority owned subsidiaries, the “Company”) was incorporated under the laws of Bermuda on October 6, 2011. Through its reinsurance subsidiaries, the Company is a provider of global specialty property and casualty reinsurance products. The Company operates through two licensed reinsurance subsidiaries, Third Point Reinsurance Company Ltd. (“Third Point Re”), a Bermuda reinsurance company that commenced operations in January 2012, and Third Point Reinsurance (USA) Ltd. (“Third Point Re USA”). Third Point Re USA is a Bermuda reinsurance company that was incorporated on November 21, 2014 and commenced operations in February 2015. Third Point Re USA made an election under Section 953(d) of the U.S. Internal Revenue Code of 1986, as amended, to be taxed as a U.S. entity. Third Point Re USA prices and underwrites U.S. domiciled reinsurance business from an office in the United States. Third Point Re USA is a wholly owned subsidiary of Third Point Re (USA) Holdings, Inc. (“TPRUSA”), an intermediate holding company based in the U.S., which is a wholly owned subsidiary of Third Point Re (UK) Holdings Ltd. (“Third Point Re UK”), an intermediate holding company based in the United Kingdom. Third Point Re UK is a wholly owned subsidiary of Third Point Reinsurance Ltd. In June 2012, Third Point Reinsurance Opportunities Fund Ltd. (the “Catastrophe Fund”), Third Point Reinsurance Investment Management Ltd. (the “Catastrophe Fund Manager”), and Third Point Re Cat Ltd. (the “Catastrophe Reinsurer”) were incorporated in Bermuda. The Catastrophe Fund Manager, a Bermuda exempted company, was the investment manager of the Catastrophe Fund. In December 2014, the Company announced that it would no longer accept investments in the Catastrophe Fund, that no new business would be written in the Catastrophe Reinsurer and that the Company would be redeeming all existing investments in the Catastrophe Fund. As of December 31, 2015, all investments in the Catastrophe Fund were redeemed. In February 2016, the Company completed the dissolution of the Catastrophe Fund and Catastrophe Reinsurer. In August 2012, the Company established a wholly-owned subsidiary in the United Kingdom, Third Point Re Marketing (UK) Limited (“TPRUK”). In May 2013, TPRUK was licensed as an insurance intermediary by the UK Financial Conduct Authority. In August 2013, the Company completed an initial public offering (“IPO”) of 24,832,484 common shares at an offering price of $12.50 per share. The net proceeds of the offering were $286.0 million , after deducting offering costs. The Company’s common shares are listed on the New York Stock Exchange (“NYSE”) under the symbol “TPRE”. These consolidated financial statements include the results of Third Point Reinsurance Ltd. and its wholly and majority owned subsidiaries (together, the “Company”) and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All significant intercompany accounts and transactions have been eliminated.

Significant accounting policies

Significant accounting policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Significant accounting policies	The following is a summary of the significant accounting and reporting policies adopted by the Company: Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported and disclosed amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The major estimates reflected in the Company’s consolidated financial statements include, but are not limited to, the loss and loss adjustment expense reserves, estimates of written and earned premiums and fair value of financial instruments. Cash and restricted cash and cash equivalents Cash and cash equivalents consist of cash held in banks and other short-term, highly liquid investments with original maturity dates of ninety days or less. Restricted cash and cash equivalents consist of cash held in trust accounts securing obligations under certain reinsurance contracts and cash held with brokers and in trust accounts securing letters of credit issued under credit facilities. Premium revenue recognition To the extent that the amount of written premium is estimable, the Company estimates the ultimate premiums for the entire contract period and records this estimate at the inception of the contract. For contracts where the full written premium is not estimable at inception, the Company records written premium for the portion of the contract period for which the amount is estimable. These estimates are based primarily on information in the underlying contracts as well as information provided by clients and/or brokers. Changes in premium estimates are expected and may result in adjustments in any reporting period. These estimates change over time as additional information regarding the underlying business volume is obtained. Any subsequent adjustments arising on such estimates are recorded in the period in which they are determined. Premiums written are earned over the exposure period in proportion to the period of risk covered. Unearned premiums represent the portion of premiums written that relate to the remaining term of the underlying policies in force. Premiums for retroactive exposures in reinsurance contracts are earned at the inception of the contract, as all of the underlying loss events covered by these exposures occurred in the past. Any underwriting profit at inception related to retroactive exposures in a reinsurance contract is deferred and recognised over the estimated future payout of the loss and loss adjustment expense reserves. Any underwriting loss at inception related to retroactive exposures in a reinsurance contract is recognised immediately. Reinsurance premiums ceded From time to time the Company reduces the risk of losses on business written by reinsuring certain risks and exposures with other reinsurers. The Company remains liable to the extent that any retrocessionaire fails to meet its obligations and to the extent that the Company does not hold sufficient security for their unpaid obligations. Ceded premiums are written during the period in which the risks incept and are earned over the contract period in proportion to the period of risk covered. Unearned premiums ceded consist of the unexpired portion of reinsurance ceded. Deferred acquisition costs Acquisition costs consist of commissions, brokerage and excise taxes that are related directly to the successful acquisition of new or renewal reinsurance contracts. These costs are deferred and amortized over the period in which the related premiums are earned. The Company evaluates the recoverability of deferred acquisition costs by determining if the sum of future earned premiums and anticipated investment income is greater than expected future loss and loss adjustment expenses and acquisition costs. If a loss is probable on the unexpired portion of contracts in force, a premium deficiency loss is recognized. As of December 31, 2016 , deferred acquisition costs are considered to be fully recoverable and no premium deficiency has been recorded. Acquisition costs also include profit commissions that are expensed when incurred. Profit commissions are calculated and accrued based on the expected loss experience for contracts and recorded when the current loss estimate indicates that a profit commission is probable under the contract terms. Loss and loss adjustment expense reserves The Company’s loss and loss adjustment expense reserves include case reserves, reserves for losses incurred but not yet reported (“IBNR reserves”) and deferred gains on retroactive reinsurance contracts. Case reserves are established for losses that have been reported, but not yet paid. IBNR reserves represent the estimated loss and loss adjustment expenses that have been incurred by insureds and reinsureds but not yet reported to the insurer or reinsurer, including unknown future development on loss and loss adjustment expenses that are known to the insurer or reinsurer. IBNR reserves are established by management based on actuarially determined estimates of ultimate loss and loss adjustment expenses. Deferred gains represent the underwriting profit related to retroactive exposures in reinsurance contracts at inception and are deferred and amortized over the estimated future settlement period of the contract. Any underwriting loss at inception related to retroactive exposures in a reinsurance contract is recognized immediately. Inherent in the estimate of ultimate loss and loss adjustment expenses are expected trends in claim severity and frequency and other factors that may vary significantly as claims are settled. Accordingly, ultimate loss and loss adjustment expenses may differ materially from the amounts recorded in the consolidated financial statements. These estimates are reviewed regularly and, as experience develops and new information becomes known, the reserves are adjusted as necessary. Such adjustments, if any, are recorded in the consolidated statements of income (loss) in the period in which they become known. Deposit liabilities Certain contracts do not transfer sufficient insurance risk to be deemed reinsurance contracts and are accounted for using the deposit method of accounting. Management exercises judgment in determining whether contracts transfer sufficient risk to be accounted for as reinsurance contracts. Using the deposit method of accounting, a deposit liability, rather than written premium, is initially recorded based upon the consideration received less any explicitly identified premiums or fees. In subsequent periods, the deposit liability is adjusted by calculating the effective yield on the deposit to reflect actual payments to date and future expected payments. In some cases, the effective yield on the contract may be negative, which will result in the recognition of other income. Certain deposit contracts also contained a variable interest crediting feature based on actual investment returns realized by the Company that can increase the overall effective interest crediting rate on those contracts. These variable interest crediting features are considered embedded derivatives. The Company includes the estimated fair value of these embedded derivatives with the host deposit liability contracts. Changes in the estimated net investment expense (income) allocation and changes in the estimated fair value of these embedded derivatives are recorded in other expenses in the consolidated statements of income (loss) . Fair value measurement The Company determines the fair value of financial instruments in accordance with current accounting guidance, which defines fair value and establishes a three level fair value hierarchy based upon the transparency of inputs used in the valuation of an asset or liability. Fair value is defined as the price that the Company would receive to sell an asset or would pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Company determines the estimated fair value of each individual security utilizing the highest level inputs available. The fair value of the Company’s assets and liabilities, which qualify as financial instruments, approximates the carrying amounts presented in the consolidated balance sheets. Investments The Company’s investments are classified as “trading securities” and are carried at fair value with changes in fair value included in earnings in the consolidated statements of income (loss) . The fair value of the Company’s investments are based on quoted market prices, or when such prices are not available, by reference to broker or underwriter bid indications, industry recognized pricing vendors, and/or internal pricing valuation techniques. Investment transactions are recorded on a trade date basis with balances pending settlement included in due to/from brokers in the consolidated balance sheets. Realized gains and losses are determined using cost calculated on a specific identification basis. Dividends are recorded on the ex-dividend date. Income and expense are recorded on the accrual basis including interest and premiums amortized and discounts accreted. Derivatives Underwriting The Catastrophe Reinsurer entered into certain contracts under which the potential loss payments are triggered exclusively by reference to a specified index, such as an industry loss. These contracts are considered derivatives. The Company recorded the fair value of these contracts in derivative liabilities, at fair value, in the consolidated balance sheet. Changes in the fair value of these contracts were recorded in net investment income (loss) in the consolidated statements of income (loss) . Investments Derivative instruments within our investment assets managed by our investment manager, Third Point LLC, are recorded in the consolidated balance sheets at fair value, with changes in fair values and realized gains and losses recognized in net investment income (loss) in the consolidated statements of income (loss) . Derivatives serve as a key component of the Company’s investment strategy and are utilized primarily to structure the portfolio, or individual investments, and to economically match the investment objectives of the Company. The Company’s derivatives do not qualify as hedges for financial reporting purposes and are recorded in the consolidated balance sheets on a gross basis and not offset against any collateral pledged or received. Pursuant to the International Swaps and Derivatives Association (“ISDA”) master agreements, securities lending agreements and other derivatives agreements, the Company and its counterparties typically have the ability to net certain payments owed to each other in specified circumstances. In addition, in the event a party to one of the ISDA master agreements, securities lending agreements or other derivatives agreements defaults, or a transaction is otherwise subject to termination, the non-defaulting party generally has the right to set off against payments owed to the defaulting party or collateral held by the non defaulting party. The Company enters into derivative contracts to manage credit risk, interest rate risk, currency exchange risk and other exposure risks. The Company uses derivatives in connection with its risk-management activities to economically hedge certain risks and to gain exposure to certain investments. The utilization of derivative contracts also allows for an efficient means by which to trade certain asset classes. Fair values of derivatives are determined by using quoted market prices, industry recognized pricing vendors and counterparty quotes when available; otherwise fair values are based on pricing models that consider the time value of money, volatility and the current market and contractual prices of underlying financial instruments. Embedded derivatives Certain of the Company’s deposit and reinsurance contracts contain interest crediting features that vary based on the net investment return on investments managed by Third Point LLC. These contractual features are considered embedded derivatives in accordance with U.S. GAAP. We include the estimated fair value of these embedded derivatives in the consolidated balance sheets with the host contract in order to reflect the expected settlement of these features with the host contract. The change in estimated fair value of these embedded derivatives are recorded in other expenses in the consolidated statements of income (loss). Share-based compensation The Company accounts for its share-based compensation transactions using the fair value of the award at the grant date. Determining the fair value of share purchase options at the grant date requires estimation and judgment. The Company uses an option-pricing model (Black-Scholes) to calculate the fair value of share purchase options. For share purchase options or restricted share awards granted that contain both a service and performance condition, the Company recognizes share compensation expense only for the portion of the options or restricted share awards that are considered probable of vesting. Share compensation for share purchase options or restricted share awards considered probable of vesting is expensed over the service (vesting) period on a graded vesting basis. The probability of share purchase options or restricted share awards vesting is evaluated at each reporting period. When the share purchase options or restricted share awards are considered probable of vesting, the Company records a true up of share compensation expense from the grant date (service inception date) to the current reporting period end based on the fair value of the options or restricted share awards at the grant date. The Company measures grant date fair value for restricted share awards, with a service condition only, based on the price of its common shares at the grant date and the expense is recognized on a straight-line basis over the vesting period. Warrants The Company accounts for warrant contracts issued to certain of its founding investors (“Founders”) in conjunction with the initial capitalization of the Company by using either the physical settlement or net-share settlement methods. The fair value of these warrants was recorded in equity as additional paid-in capital. The fair value of warrants issued are estimated on the grant date using the Black-Scholes option-pricing model. The Company accounts for certain warrant contracts issued to an advisor, where services have been received by the Company, in part, in exchange for equity instruments, based on the fair value of such services. The associated cost of these warrants has been recorded as capital raise costs and is included in additional paid in capital in the consolidated statements of shareholders’ equity. Debt offering costs Costs incurred in issuing debt, which includes underwriters’ fees, legal and accounting fees, printing and other fees are capitalized and presented as a direct deduction from the principal amount of senior notes payable in the consolidated balance sheets. These costs are amortized over the term of the debt and are included in interest expense in the consolidated statements of income (loss) . Foreign currency transactions The Company’s functional currency is the U.S. dollar. Transactions involving monetary assets and liabilities denominated in foreign currencies have been converted into U.S. dollars at the exchange rate in effect on the balance sheet date, and the related revenues and expenses are converted using specific rates for the period, as appropriate. Net foreign currency transaction gains and losses arising from these activities are reported in the consolidated statements of income (loss) in the period in which they arise. The Company does not isolate the portion of the net investment income (loss) resulting from changes in foreign exchange rates on investments, dividends and interest from the fluctuations arising from changes in fair values of securities and derivatives held within the total net investments managed by Third Point LLC. Periodic payments received or paid on swap agreements are recorded as realized gain or loss on investment transactions. Such fluctuations are included within net investment income (loss) in the consolidated statements of income (loss) . Income taxes, withholding taxes and uncertain tax positions The Company provides for income taxes for its operations in income tax paying jurisdictions. The Company’s provision relies on estimates and interpretations of currently enacted tax laws. The Company recognizes deferred tax assets and liabilities based on the temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities. Such temporary differences are primarily due to tax basis discounts on loss and loss adjustment expense reserves and unearned premiums, deferred acquisition costs and investments. A valuation allowance against deferred tax assets is recorded if it is more likely than not that all, or some portion, of the benefits related to deferred tax assets will not be realized. Any adjustments to deferred income taxes are accounted for as changes in estimates and are reflected in the consolidated statements of income (loss) in the year in which they are made. Adjustments could be material and could significantly impact earnings in the year they are recorded. The Company is subject to withholding tax obligations related to dividends, capital gains and interest on certain investments. These withholding taxes are recorded when they become payable and are included in income tax expense (benefit) in the Company’s consolidated statements of income (loss) . The Company has recognized uncertain tax positions related to certain investment transactions in foreign jurisdictions. The Company records its uncertain tax positions based on an estimate of the potential liability, including potential interests and penalties, arising from its investment transactions conducted in foreign countries. The changes in the Company’s uncertain tax position is included in income tax expense (benefit) in the Company’s consolidated statements of income (loss) . Non-controlling interests The Company consolidates the results of entities in which it has a controlling financial interest. The Company records the portion of shareholders’ equity attributable to non-controlling interests as a separate line within shareholders’ equity in the consolidated balance sheets. The Company records the portion of income attributable to non-controlling interests as a separate line within the consolidated statements of income (loss) . Earnings (loss) per share Basic earnings (loss) per share is based on the weighted average number of common shares and participating securities outstanding during the period. The weighted average number of common shares excludes any dilutive effect of outstanding warrants, options and unvested restricted shares. Diluted earnings (loss) per share is based on the weighted average number of common shares and participating securities outstanding and includes any dilutive effects of warrants, options and unvested restricted shares under share plans and are determined using the treasury stock method. U.S. GAAP requires that unvested share awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid (referred to as “participating securities”), be treated in the same manner as outstanding shares for earnings per share calculations. The Company treats certain of its unvested restricted shares as participating securities. In the event of a net loss, all participating securities, outstanding warrants, options and restricted shares are excluded from both basic and diluted loss per share since their inclusion would be anti-dilutive. Leases Leases in which substantially all of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases (net of any incentives received from the lessor) are recognized in the consolidated statements of income (loss) on a straight-line basis over the term of the lease. Comprehensive income The Company has no comprehensive income other than net income disclosed in the consolidated statements of income (loss) . Segment information Under U.S. GAAP, operating segments are based on the internal information that management uses for allocating resources and assessing performance of the Company. The Company reports one operating segment, Property and Casualty Reinsurance. The Company also has a corporate function that includes the Company’s investment income on capital, certain general and administrative expenses related to its corporate activities, interest expense, foreign exchange gains (losses) and income tax (expense) benefit. Prior to 2016, the Company had another segment, Catastrophe Risk Management, however, as of December 31, 2015, all investments in the Catastrophe Fund had been redeemed. In February 2016, the Company completed the dissolution of the Catastrophe Fund and Catastrophe Reinsurer. As a result, there is no further activity in the Catastrophe Risk Management segment. Treasury shares Common shares repurchased by the Company and not canceled are classified as treasury shares. Treasury shares are recorded at cost, which results in a reduction of shareholders’ equity in the consolidated balance sheets. When shares are reissued from treasury, the Company uses the average cost method to determine the cost of the reissued shares. Gains on sales of treasury shares are credited to additional paid-in capital, while losses are charged to additional paid-in capital to the extent that previous net gains from sales of treasury shares are included therein; otherwise, losses are charged to retained earnings. Prior year changes in the presentation of consolidated financial statements The Company had previously disclosed unearned premium ceded and loss and loss adjustment expenses recoverable as separate line items in the consolidated balance sheets and changes in these balances in the consolidated statements of cash flows. These balances are no longer material and are now included in other assets in the consolidated financial statements. Recent accounting pronouncements Adoption of New Accounting Standards In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2014-15, Presentation of Financial Statements- Going Concern (ASU 2014-15). ASU 2014-15 requires management to evaluate, for each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. If conditions or events raise substantial doubt about an entity’s ability to continue as a going concern, the entity will be required to disclose information that enables the users of the financial statements to understand the principal conditions or events, management’s evaluation of the significance of those events or conditions and management’s plans that alleviate substantial doubt about the entity’s ability to continue as a going concern. ASU 2014-15 became effective for the annual period ending after December 15, 2016. Management’s evaluation did not identify any conditions or events that would raise substantial doubt about the Company’s ability to continue as a going concern. In February 2015, the FASB issued Accounting Standard Update 2015-02, Consolidation (Topic 810) Amendments to the Consolidation Analysis (ASU 2015-02). ASU 2015-02 requires management to evaluate whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities. ASU 2015-02 eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. ASU 2015-02 also provides 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 amendments in ASU 2015-02 are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim period within those fiscal years. ASU 2015-02 did not change the accounting presentation or disclosure of any of the Company’s VIEs. In May 2015, the FASB issued Accounting Standards Update 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (ASU 2015-07) . ASU 2015-07 eliminates the requirement to categorize certain investments in the fair value hierarchy if their fair value is measured at net asset value (“NAV”) per share (or its equivalent) using the practical expedient in the FASB’s fair value measurement guidance. The amendments in ASU 2015-07 are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The Company has removed investments measured at NAV from the fair value hierarchy disclosure in its consolidated financial statements. In May 2015, the FASB issued Accounting Standards Update 2015-09, Disclosures about Short-Duration Contracts (ASU 2015-09) . ASU 2015-09 amends ASC 944 (Financial Services - Insurance) to expand the disclosures that an insurance entity must provide about its short-duration insurance contracts. Under ASU 2015-09, the FASB focused on targeted improvements to provide users with additional information about insurance liabilities, including the nature, amount, timing, and uncertainty of future cash flows related to insurance liabilities. The amendments in ASU 2015-09 are effective for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. The Company has included the additional new disclosures in Note 8 to these consolidated financial statements as of and for the year ended December 31, 2016 and will include for interim periods thereafter. In June 2015, the FASB issued Accounting Standards Update 2015-10, Technical Corrections and Improvements (ASU 2015-10). ASU 2015-10 amends a number of Topics in the FASB Accounting Standards Codification and is part of an ongoing project on the FASB’s agenda to facilitate Codification updates for non-substantive technical corrections, clarifications and improvements that are not expected to have a significant effect on accounting practice or create a significant administrative cost to most entities. The amendments to transition guidance are effective for fiscal years beginning after December 15, 2015. All other changes were effective upon issuance of ASU 2015-10. The Company did not have any technical corrections, clarifications or improvements for which this standard applied. In December 2016, the FASB issued Accounting Standards Update 2016-19, Technical Corrections and Improvements (ASU 2016-19). ASU 2016-19 makes certain technical corrections to the FASB Accounting Standards Codification. The amendments are effective upon issuance of this ASU 2016-19. The Company did not have any technical corrections, clarifications or improvements for which this standard applied. Recently Issued Accounting Standards Not Yet Adopted In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (ASU 2014-09). ASU 2014-09 provides a framework, through a five-step process, for recognizing revenue from customers, improves comparability and consistency of recognizing revenue across entities, industries, jurisdictions and capital markets, and requires enhanced disclosures. Certain contracts with customers are specifically excluded from the scope of ASU 2014-09, including amongst others, insurance contracts accounted for under Accounting Standard Codification 944, Financial Services - Insurance . ASU 2014-09 is effective on January 1, 2017 with retrospective adoption required for the comparative periods. Insurance contracts are specifically excluded from ASU 2014-09 and we do not currently have any other revenue generating transactions for which this standard would be applicable. As a result, this new pronouncement is not expected to have a material impact on the Company’s consolidated financial statements. In January 2016, the FASB issued Accounting Standards Update 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01). ASU 2016-01 intends to provide users of financial statements with more useful information on the recognition, measurement, presentation, and disclosure of financial instruments. The new standard affects all entities that hold financial assets or owe financial liabilities. ASU 2016-01 is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. This new pronouncement is not expected to have a material impact on the Company’s consolidated financial statements since all of the Company’s investments are valued at fair market value. In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases (Topic 842): Section A - Leases, Section B - Conforming Amendments Related to Leases and Section C - Background Information and Basis for Conclusions (ASU 2016-02). ASU 2016-02 intends to improve financial reporting about leasing transactions. The new standard affects all entities that lease assets such as real estate, airplanes and manufacturing equipment. ASU 2016-01 will require entities that lease assets, referred to as “lessees”, to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. ASU 2016-02 is effective for public business entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently evaluating the impact of this guidance; however, it is not expected to have a material impact on the Company’s consolidated financial statements as a result of the limited number of leases the Company currently has in place. In March 2016, the FASB issued Accounting Standards Update 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments (ASU 2016-06). ASU 2016-06 clarifies that determining whether the economic characteristics of a put or call are clearly and closely related to its debt host requires only an assessment of the four-step decision sequence outlined in FASB ASC paragraph 815-15-25-24. Additionally, entities are not required to separately assess whether the contingency itself is clearly and closely related. The ASU is effective for interim and annual periods in fiscal years beginning after December 15, 2016. As a result of the Company’s investments being valued at fair value and the Company not holding the type of instruments addressed by this new pronouncement, this new accounting standard is not expected to have a material impact on the Company’s consolidated financial statements when it becomes effective. In March 2016, the FASB issued Accounting Standards Update 2016-07, I nvestments - Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting (ASU 2016-07). ASU 2016-07 simplifies the equity method of accounting by eliminating the requirement to retrospectively apply the equity method to an investment that subsequently qualifies for such accounting as a result of an increase in the level of ownership interest or degree of influence. ASU 2016-07 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. None of the Company’s investments qualify for the simplification in ASU 2016-07. As a result, this new accounting standard is not expected to have a material impact on the Company’s consolidated financial statements when it becomes effective. In March 2016, the FASB issued Accounting Standards Update 2016-09, Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). ASU 2016-09 simplifies several aspects of the accounting for employee share-based pay

Restricted cash and cash equiva

Restricted cash and cash equivalents and investments	12 Months Ended
	Dec. 31, 2016
Cash and Cash Equivalents [Abstract]
Restricted cash and cash equivalents	Restricted cash and cash equivalents and restricted investments as of December 31, 2016 and 2015 consisted of the following: 2016 2015 ($ in thousands) Restricted cash securing letter of credit facilities (1) $ 231,822 $ 270,755 Restricted cash securing other reinsurance contracts (2) 67,118 60,160 Total restricted cash and cash equivalents 298,940 330,915 Restricted investments securing other reinsurance contracts (2) 427,308 292,111 Total restricted cash and cash equivalents and restricted investments $ 726,248 $ 623,026 (1) Restricted cash securing letter of credit facilities pertains to letters of credit issued to clients and cash securing these obligations that the Company will not be released from until the underlying reserves have been settled. The time period for which the Company expects these letters of credit to be in place varies from contract to contract, but can last several years. (2) Restricted cash and restricted investments securing other reinsurance contracts pertain to trust accounts securing the Company’s contractual obligations under certain reinsurance contracts that the Company will not be released from until all underlying risks have expired or have been settled. Restricted investments include certain investments in debt securities including U.S. Treasury securities and sovereign debt. The time period for which the Company expects these trust accounts to be in place varies from contract to contract, but can last several years.

Investments

Investments	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Investments	The Company’s investments are managed by its investment manager, Third Point LLC (“Third Point LLC” or the “Investment Manager”), under long-term investment management contracts. The Company directly owns the investments that are held in separate accounts and managed by Third Point LLC. The following is a summary of the separate accounts managed by Third Point LLC: 2016 2015 Assets ($ in thousands) Total investments in securities $ 2,619,839 $ 2,290,779 Cash and cash equivalents 5 57 Restricted cash and cash equivalents 298,940 330,915 Due from brokers 284,591 326,971 Derivative assets 27,432 35,337 Interest and dividends receivable 6,505 10,687 Total assets 3,237,312 2,994,746 Liabilities and non-controlling interest Accounts payable and accrued expenses 1,374 770 Securities sold, not yet purchased 92,668 314,353 Securities sold under an agreement to repurchase — 8,944 Due to brokers 899,601 574,962 Derivative liabilities 16,050 15,392 Interest and dividends payable 386 1,345 Non-controlling interest 35,674 16,157 Total liabilities and non-controlling interest 1,045,753 931,923 Total net investments managed by Third Point LLC $ 2,191,559 $ 2,062,823 The Company’s Investment Manager has a formal valuation policy that sets forth the pricing methodology for investments to be used in determining the fair value of each security in the Company’s portfolio. The valuation policy is updated and approved at least on an annual basis by Third Point LLC’s valuation committee (the “Committee”). The Committee is comprised of officers and employees who are senior business management personnel of Third Point LLC and meets monthly. The Committee’s role is to review and verify the propriety and consistency of the valuation methodology to determine the fair value of investments. The Committee also reviews any due diligence performed and approves any changes to current or potential external pricing vendors. Investments are carried at fair value. The fair values of investments are estimated using prices obtained from third-party pricing services, when available. However, situations may arise where the Company believes that the fair value provided by the third-party pricing service does not represent current market conditions. In those situations, Third Point LLC may use dealer quotes to value the investments. The methodology for valuation is generally determined based on the investment’s asset class per the Company’s Investment Manager’s valuation policy. For investments where fair values from pricing services or brokers are unavailable, fair values are estimated using information obtained by the Company’s Investment Manager. Securities listed on a national securities exchange or quoted on NASDAQ are valued at their last sales price as of the last business day of the period. Listed securities with no reported sales on such date and over-the-counter (“OTC”) securities are valued at their last closing bid price if held long by the Company, and last closing ask price if held short by the Company. As of December 31, 2016 , securities valued at $315.3 million ( December 31, 2015 - $570.9 million ), representing 11.9% ( December 31, 2015 - 24.5% ) of investments in securities and derivative assets, and $2.0 million ( December 31, 2015 - $1.5 million ), representing 1.8% ( December 31, 2015 - 0.4% ) of securities sold, not yet purchased and derivative liabilities, are valued based on broker quotes. Private securities are those not registered for public sale and are carried at an estimated fair value at the end of the period, as determined by Third Point LLC. Valuation techniques used by Third Point LLC may include market approach, last transaction analysis, liquidation analysis and/or using discounted cash flow models where the significant inputs could include but are not limited to additional rounds of equity financing, financial metrics such as revenue multiples or price-earnings ratio, discount rates and other factors. In addition, third party valuation firms may be employed to conduct investment valuations of such private securities. The third party valuation firms provide written reports documenting their recommended valuation as of the determination date for the specified investments. As of December 31, 2016 , the Company had $63.2 million ( December 31, 2015 - $31.0 million ) of investments fair valued by the Company’s Investment Manager representing approximately 2.4% ( December 31, 2015 - 1.3% ) of total investments in securities and derivative assets of which 96.3% were also separately valued by third party valuation firms using information obtained from the Company’s Investment Manager. Due to the inherent uncertainty of valuation for private securities, the estimated fair value may differ materially from the values that would have been used had a ready market existed for these investments.The actual value at which these securities could be sold or settled with a willing buyer or seller may differ from the Company’s estimated fair values depending on a number of factors including, but not limited to, current and future economic conditions, the quantity sold or settled, the presence of an active market and the availability of a willing buyer or seller. The Company’s free standing derivatives are recorded at fair value, and are included in the consolidated balance sheets in derivative assets and derivative liabilities. Third Point LLC values exchange-traded derivatives at their last sales price on the exchange where they are primarily traded. OTC derivatives, which include swap, option, swaption, forward, future and contract for differences, are valued by an industry recognized third party valuation vendor when available; otherwise, fair values are obtained from broker quotes that are based on pricing models that consider the time value of money, volatility, and the current market and contractual prices of the underlying financial instruments. The Company also has derivatives embedded in non-derivative host contracts that are required to be separated from the host contracts and accounted for at fair value with changes in fair value of the embedded derivative reported in other expenses. The Company’s embedded derivatives relate to interest crediting features in certain reinsurance and deposit contracts that vary based on the returns on the Company’s investments managed by Third Point LLC. The Company determines the fair value of the embedded derivatives using models developed by the Company. See discussion of accounting policy for embedded derivatives in Note 2 for additional information. The Company values its investments in limited partnerships at fair value, which is estimated based on the Company’s share of the NAV of the limited partnerships as provided by the investment managers of the underlying investment funds. The resulting net gains or net losses are reflected in the consolidated statements of income (loss) . These investments are included in investment in funds valued at NAV and excluded from the presentation of investments categorized by the level of the fair value hierarchy. These investments are non-redeemable and distributions are made by the investment funds as underlying investments are monetized. As of December 31, 2016 and 2015 , the Company’s asset-backed securities (“ABS”) holdings were as follows: 2016 2015 ($ in thousands) Re-REMIC (1) $ 44,359 17.4 % $ 195,889 39.6 % Subprime RMBS 117,152 46.0 % 174,777 35.3 % Collateralized debt obligations 3,433 1.3 % 50,455 10.2 % Market place loans 44,143 17.3 % 13,247 2.7 % Other (2) 45,765 18.0 % 60,355 12.2 % $ 254,852 100.0 % $ 494,723 100.0 % (1) Mezzanine portions of the re-securitized real estate mortgage investment conduits (“re-REMIC”) structure of ABS. (2) Other includes: U.S. Alt-A positions, commercial mortgage-backed securities, market place loans, Non-U.S. RMBS and student loans ABS. As of December 31, 2016 , all of the Company’s ABS holdings were private-label issued, non-investment grade securities, and none of these securities were guaranteed by a government sponsored entity. These investments are valued using broker quotes or a recognized third-party pricing vendor. All of these classes of ABS are sensitive to changes in interest rates and any resulting change in the rate at which borrowers sell their properties, refinance, or otherwise pre-pay their loans. As an investor in these classes of ABS, the Company may be exposed to the credit risk of underlying borrowers not being able to make timely payments on loans or the likelihood of borrowers defaulting on their loans. In addition, the Company may be exposed to significant market and liquidity risks. In 2015, the Company made a $25.0 million investment in the Kiskadee Diversified Fund Ltd. (the “Kiskadee Fund”), a fund vehicle managed by Hiscox Insurance Company (Bermuda) Limited. The Kiskadee Fund invests in property catastrophe exposures through collateralized reinsurance transactions and other insurance-linked investments. As of December 31, 2016 , the Company had no remaining commitments. For the year ended December 31, 2016 , the Company made withdrawals of $0.3 million ( 2015 - $nil ). The Company has elected the fair value option for this investment. This investment is included in investment in funds valued at NAV and is excluded from the presentation of investments categorized by the level of the fair value hierarchy. The fair value is estimated based on the Company’s share of the net asset value in the Kiskadee Fund, as provided by the investment manager, and was $27.7 million as of December 31, 2016 ( December 31, 2015 - $ 26.5 million ). The resulting net gains or losses are reflected in the consolidated statements of income (loss) . In November 2016, the Company submitted a request to fully redeem its investment in the Kiskadee Fund. The Company expects to receive the distributions in 2017 and 2018. U.S. GAAP disclosure requirements establish a framework for measuring fair value, including a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability. The three-level hierarchy of inputs is summarized below: • Level 1 – Quoted prices available in active markets/exchanges for identical investments as of the reporting date. • Level 2 – Observable inputs to the valuation methodology other than unadjusted quoted market prices for identical assets or liabilities in active markets. Level 2 inputs include, but are not limited to, prices quoted for similar assets or liabilities in active markets/exchanges, prices quoted for identical or similar assets or liabilities in markets that are not active and fair values determined through the use of models or other valuation methodologies. • Level 3 – Pricing inputs unobservable for the investment and include activities where there is little, if any, market activity for the investment. The inputs applied in the determination of fair value require significant management judgment and estimation. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources other than those of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and considers factors specific to the investment. The key inputs for corporate, government and sovereign bond valuation are coupon frequency, coupon rate and underlying bond spreads. The key inputs for ABS are yield, probability of default, loss severity and prepayment. Key inputs for OTC valuations vary based on the type of underlying security on which the contract was written: • The key inputs for most OTC option contracts include notional, strike price, maturity, payout structure, current foreign exchange forward and spot rates, current market price of the underlying security and volatility of the underlying security. • The key inputs for most forward contracts include notional, maturity, forward rate, spot rate, various interest rate curves and discount factor. • The key inputs for swap valuation will vary based on the type of underlying on which the contract was written. Generally, the key inputs for most swap contracts include notional, swap period, fixed rate, credit or interest rate curves, current market or spot price of the underlying security and the volatility of the underlying security. The following tables present the Company’s investments, categorized by the level of the fair value hierarchy as of December 31, 2016 and 2015 : December 31, 2016 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets ($ in thousands) Equity securities $ 1,450,966 $ 2,255 $ — $ 1,453,221 Private common equity securities — — 4,799 4,799 Private preferred equity securities — — 48,834 48,834 Total equities 1,450,966 2,255 53,633 1,506,854 Asset-backed securities — 237,224 17,628 254,852 Bank debt — 48,546 8,350 56,896 Corporate bonds — 209,025 9,255 218,280 U.S. Treasury securities — 327,016 — 327,016 Sovereign debt — 200,913 — 200,913 Total debt securities — 1,022,724 35,233 1,057,957 Options 343 681 — 1,024 Trade claims — 9,022 — 9,022 Total other investments 343 9,703 — 10,046 Derivative assets (free standing) 961 26,471 — 27,432 $ 1,452,270 $ 1,061,153 $ 88,866 2,602,289 Investments in funds valued at NAV 72,655 Total assets $ 2,674,944 Liabilities Equity securities $ 71,457 $ — $ — $ 71,457 Corporate bonds — 17,683 — 17,683 Options — 3,528 — 3,528 Total securities sold, not yet purchased 71,457 21,211 — 92,668 Derivative liabilities (free standing) 1,608 13,116 1,326 16,050 Derivative liabilities (embedded) — — 92 92 Total liabilities $ 73,065 $ 34,327 $ 1,418 $ 108,810 December 31, 2015 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets ($ in thousands) Equity securities $ 1,181,865 $ 19,758 $ — $ 1,201,623 Private common equity securities — 919 4,357 5,276 Private preferred equity securities — — 24,178 24,178 Total equities 1,181,865 20,677 28,535 1,231,077 Asset-backed securities — 492,106 2,617 494,723 Bank debt — 2,158 7,660 9,818 Corporate bonds — 79,938 3,252 83,190 U.S. Treasury securities — 186,471 — 186,471 Sovereign debt — 260,024 21 260,045 Total debt securities — 1,020,697 13,550 1,034,247 Options — 8,911 — 8,911 Rights and warrants 416 — — 416 Trade claims — 8,329 — 8,329 Total other investments 416 17,240 — 17,656 Derivative assets (free standing) — 35,337 — 35,337 $ 1,182,281 $ 1,093,951 $ 42,085 2,318,317 Investments in funds valued at NAV 34,264 Total assets $ 2,352,581 Liabilities Equity securities $ 228,009 $ — $ — $ 228,009 Sovereign debt — 5,856 — 5,856 Corporate bonds — 76,131 — 76,131 Options 690 3,667 — 4,357 Total securities sold, not yet purchased 228,699 85,654 — 314,353 Derivative liabilities (free standing) — 14,372 1,020 15,392 Derivative liabilities (embedded) — — 5,563 5,563 Total liabilities $ 228,699 $ 100,026 $ 6,583 $ 335,308 During the years ended December 31, 2016 , the Company made no significant reclassifications of assets or liabilities between Levels 1 and 2. During the year ended December 31, 2015 , the Company reclassified $4.0 million , of equity securities from Level 2 to Level 1 equity securities. These reclassifications were the result of the issuer’s IPO, with quoted prices having become available in an active market as of the reporting date and transfers due to restriction change. The following table presents the reconciliation of all investments measured at fair value using Level 3 inputs for the years ended December 31, 2016 and 2015 : January 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains(Losses) (1) December 31, ($ in thousands) Assets Private common equity securities $ 4,357 $ — $ 60 $ — $ 382 $ 4,799 Private preferred equity securities 24,178 — 20,574 (60 ) 4,142 48,834 Asset-backed securities 2,617 17,390 5,433 (3,527 ) (4,285 ) 17,628 Bank debt 7,660 — 3,248 (928 ) (1,630 ) 8,350 Corporate bonds 3,252 — 12,651 (7,288 ) 640 9,255 Sovereign debt 21 — — (20 ) (1 ) — Total assets $ 42,085 $ 17,390 $ 41,966 $ (11,823 ) $ (752 ) $ 88,866 Liabilities Derivative liabilities (free standing) $ (1,020 ) $ — $ — $ (306 ) $ — $ (1,326 ) Derivative liabilities (embedded) (5,563 ) — 6,072 (861 ) 260 (92 ) Total liabilities $ (6,583 ) $ — $ 6,072 $ (1,167 ) $ 260 $ (1,418 ) January 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains(Losses) (1) December 31, ($ in thousands) Assets Private common equity securities $ 1,443 $ — $ 4,384 $ (192 ) $ (1,278 ) $ 4,357 Private preferred equity securities — — 18,991 — 5,187 24,178 Asset-backed securities 4,720 (2,212 ) 4,929 (2,563 ) (2,257 ) 2,617 Bank debt — — 8,123 — (463 ) 7,660 Corporate bonds 3,799 — — (372 ) (175 ) 3,252 Sovereign debt — 19 — — 2 21 Total assets $ 9,962 $ (2,193 ) $ 36,427 $ (3,127 ) $ 1,016 $ 42,085 Liabilities Derivative liabilities (free standing) $ (962 ) $ — $ — $ (173 ) $ 115 $ (1,020 ) Derivative liabilities (embedded) (9,289 ) — 4,417 (3,152 ) 2,461 (5,563 ) Total liabilities $ (10,251 ) $ — $ 4,417 $ (3,325 ) $ 2,576 $ (6,583 ) (1) Total change in realized and unrealized gains (losses) recorded on Level 3 financial instruments is included in net investment income (loss) in the consolidated statements of income (loss) . Total change in unrealized gains (losses) on fair value of assets using significant unobservable inputs (Level 3) for the year ended December 31, 2016 was $1.0 million ( 2015 - $(0.2) million and 2014 - $(7.4) million ). For assets and liabilities that were transferred into Level 3 during the period, gains (losses) are presented as if the assets or liabilities had been transferred into Level 3 at the beginning of the period; similarly, for assets and liabilities that were transferred out of Level 3 during the year, gains (losses) are presented as if the assets or liabilities had been transferred out of Level 3 at the beginning of the year. The following table summarizes information about the significant unobservable inputs used in determining the fair value of the Level 3 investments held by the Company. Level 3 investments not presented in the table below generally do not have any unobservable inputs to disclose, as they are valued primarily using dealer quotes, or at cost. December 31, 2016 Assets Fair value ($ in thousands) Valuation technique Unobservable (U) and Range Derivative liabilities (embedded) $ 92 Discounted cash flow Contractual variable annual investment credit (U) 0.0% - 2.5% Mean monthly investment return (U) 0.8 % Duration from inception of contracts (U) 5.0 years Duration from valuation date (U) 3.0 years Interest rates (O) U.S. Treasury spot rates Private equity investments 47,608 Market approach Discount (U) 5.0% - 25.0% Volatility (U) 40.0% - 60.0% Time to exit (U) 0.4 - 2.8 years Multiple (U) 2.0 - 3.8x December 31, 2015 Assets Fair value ($ in thousands) Valuation technique Unobservable (U) and Range Corporate bond $ 2,444 Discounted cash flow Yield (U) 10.4% - 11.4% Duration (U) 3.0 years Credit spread (U) 986 bps Volatility (U) 25.0% - 35.0% Derivative liabilities (embedded) $ 5,563 Discounted cash flow Contractual variable annual investment credit (U) 0.0% - 2.5% Mean monthly investment return (U) 1.2 % Duration from inception of contracts (U) 5.0 - 5.5 years Duration from valuation date (U) 4.0 - 5.0 years Interest rates (O) U.S. Treasury spot rates Derivative liabilities (embedded) The Company also has derivatives embedded in non-derivative host contracts that are required to be separated from the host contracts and accounted for at fair value with changes in fair value of the embedded derivative reported in other expenses. The Company’s embedded derivatives relate to interest crediting features in certain reinsurance and deposit contracts that vary based on the returns on the Company’s investments managed by Third Point LLC. The Company determines the fair value of the embedded derivatives using models developed by the Company. The fair value of these embedded derivative liabilities is positively correlated with the actual realized investment returns and the assumed future investment returns during the contract period and negatively correlated with U.S. Treasury Spot Rates. Private equity investments The Company’s private equity investments include investments in five privately held companies with a total fair value of $47.6 million as of December 31, 2016 . The Company measures the fair value of the investments using a market approach which typically utilizes guideline comparable company trading multiples and/or a discounted cash flow analysis. Under the guideline comparable company multiples approach, the Company determines comparable public companies based on industry, size, developmental stage, strategy, etc., and then calculates a trading multiple for each comparable company. The trading multiple may then be discounted for various considerations as appropriate. The concluded multiple is then applied to the subject company to calculate the value of the subject company. The discounted cash flow model involves using the financial information of the portfolio companies to develop revenue and income projections for the subject company for future years based on information on growth rates relative to the company’s development stage. The enterprise value of the subject company is calculated by discounting the projected cash flows and the terminal value to net present value. The fair value of the company’s debt is reduced from the enterprise value to determine the equity value. Corporate bond Included in the Company’s corporate bond investments are investments in the convertible debt of a real estate investment company with a fair value of $nil as of December 31, 2016 ( December 31, 2015 - $2.4 million ). The Company measures the fair value of this investment using the Tsiveriotis-Fernandes income and Black-Scholes approaches and seeks to incorporate all relevant information reasonably available. The valuation methodology takes into account both the equity and debt component of the instrument. In addition, foreign exchange risk is considered as the bonds are denominated in Euro and U.S. Dollars and the underlying stock is traded in British Pounds Sterling. The fair value of the Company’s investment in this corporate convertible debt is positively correlated to the underlying investment stock price, and inversely correlated to the credit spread, liquidity discount and the risk-free rate. For the years ended December 31, 2016 and 2015 , there were no changes in the valuation techniques as they relate to the above.

Securities purchased under an a

Securities purchased under an agreement to sell	12 Months Ended
	Dec. 31, 2016
Securities Purchased under Agreements to Resell [Abstract]
Securities purchased under an agreement to sell	The Company may enter into repurchase and reverse repurchase agreements with financial institutions in which the financial institution agrees to resell or repurchase securities and the Company agrees to repurchase or resell such securities at a mutually agreed price upon maturity. These agreements are generally collateralized by corporate or government bonds or asset-backed securities. As of December 31, 2016, the Company did not hold repurchase or reverse repurchase agreements. As of December 31, 2015, the Company held only repurchase agreements and these positions were not affected by counterparty netting agreements. Interest payable and receivable related to these transactions are included in interest payable and receivable in the consolidated balance sheets. For the years ended December 31, 2016 , foreign currency losses of $nil ( 2015 - $2.3 million and 2014 - $4.1 million ) on reverse repurchase agreements are included in net investment income (loss) in the consolidated statements of income (loss) . Generally, repurchase and reverse repurchase agreements mature within 30 to 90 days . Th e Company may lend securities for securities lending transactions or pledge securities and/or cash for securities borrowed transactions. The value of any securities loaned is reflected in investments in securities. Any collateral received is reflected in due to brokers in the consolidated balance sheets. The Company’s repurchase and securities lending agreements may result in credit exposure in the event the counterparty to the transaction is unable to fulfill its contractual obligations. It is the Company’s policy to monitor and control collateral under such agreements. The following table presents the remaining contractual maturity of the repurchase agreements and securities lending transactions by class of collateral pledged as of December 31, 2016 and 2015 : December 31, 2016 Overnights and continuous Up to 30 days 30 - 90 days Greater than 90 days Total ($ in thousands) Securities lending transactions U.S. Treasury and agency securities $ 310 $ — $ — $ — $ 310 December 31, 2015 Overnights and continuous Up to 30 days 30 - 90 days Greater than 90 days Total ($ in thousands) Repurchase agreements Non-U.S. sovereign debt $ — $ — $ 8,944 $ — $ 8,944 Securities lending transactions Corporate bonds $ 112 $ — $ — $ — $ 112

Due from_to brokers

Due from/to brokers	12 Months Ended
	Dec. 31, 2016
Due to and from Broker-Dealers and Clearing Organizations [Abstract]
Due from/to brokers	The Company holds substantially all of its investments through prime brokers pursuant to agreements between the Company and each prime broker. The brokerage arrangements differ from broker to broker, but generally cash and investments in securities are available as collateral against investments in securities sold, not yet purchased and derivative positions, if required. As of December 31, 2016 and 2015 , the Company’s due from/to brokers were comprised of the following: 2016 2015 ($ in thousands) Due from brokers Cash held at brokers $ 240,205 $ 249,871 Receivable from unsettled trades (1) 44,386 77,100 $ 284,591 $ 326,971 Due to brokers Borrowing from prime brokers (2) $ 855,576 $ 572,688 Payable from unsettled trades 44,025 2,274 $ 899,601 $ 574,962 (1) Receivables relating to securities previously owned by the Company are recorded as receivable from unsettled trades in due from brokers in the Company’s consolidated balance sheets. During the year ended December 31, 2015 , the Company’s investment manager, Third Point LLC, exercised appraisal rights relating to an underlying investment, which was bought by a private equity firm. The Company is currently awaiting a court decision regarding the sale price and as such, as of December 31, 2016 , $37.6 million ( December 31, 2015 - $37.6 million ) was included in receivable from unsettled trades in due from brokers. (2) As of December 31, 2016 , the Company’s borrowing from prime brokers includes a total non-U.S. currency balance of $22.0 million ( December 31, 2015 - $9.8 million ). The Company uses prime brokerage borrowing arrangements to provide collateral for its letter of credit facilities and to fund trust accounts securing certain reinsurance contracts. As of December 31, 2016 , the Company had $726.2 million ( December 31, 2015 - $623.0 million ) of restricted cash and investments securing letter of credit facilities and certain reinsurance contracts. Margin debt at the brokers primarily relates to borrowings to fund collateral arrangements and investment activities. Amounts are borrowed through committed facilities with terms of up to 90 days, secured by assets of the Company held by the prime broker, and incur interest based on the Company’s negotiated rates. This interest expense is reflected in net investment income (loss) in the consolidated statements of income (loss) .

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	The following tables identify the listing currency, fair value and notional amounts of derivative instruments included in the consolidated balance sheets, categorized by primary underlying risk. Balances are presented on a gross basis. As of December 31, 2016 Listing currency (1) Fair Value Notional Amounts (2) Derivative Assets by Primary Underlying Risk ($ in thousands) Credit Credit Default Swaps - Protection Purchased E UR/ USD $ 10,905 $ 84,327 Equity Price Contracts for Differences - Long Contracts E UR/ GBP 1,765 36,879 Total Return Swaps - Long Contracts B RL/ USD 617 19,140 Total Return Swaps - Short Contracts J PY 183 8,696 Interest Rates Interest Rate Swaps GBP/USD 2,462 195,571 Interest Rate Swaptions J PY / USD 5,354 424,816 Sovereign Debt Futures - Short Contracts U SD 961 107,591 Foreign Currency Exchange Rates Foreign Currency Forward Contracts CAD/ CNH/ GBP/ MXN 653 47,754 Foreign Currency Options - Purchased CNH/EUR/HKD/JPY/SAR 4,532 501,465 Total Derivative Assets $ 27,432 $ 1,426,239 Listing currency (1) Fair Value Notional Amounts (2) Derivative Liabilities by Primary Underlying Risk ($ in thousands) Credit Credit Default Swaps - Protection Purchased U SD $ 3,286 $ 43,184 Credit Default Swaps - Protection Sold U SD 1,952 3,943 Equity Price Contracts for Differences - Long Contracts G BP — 67 Contracts for Differences - Short Contracts E UR / ZAR 1,106 11,424 Total Return Swaps - Long Contracts U SD 1,675 26,800 Total Return Swaps - Short Contracts J PY / USD 1,302 10,095 Interest Rates Interest Rate Swaps G BP 722 59,115 Interest Rate Swaptions J PY/USD 1,056 417,052 Sovereign Debt Futures - Short Contracts E UR / GBP 1,608 159,923 Foreign Currency Exchange Rates Foreign Currency Forward Contracts E UR /JPY /SAR 2,009 214,854 Foreign Currency Options - Sold CNH/JPY 1,334 363,840 Total Derivative Liabilities (free standing) $ 16,050 $ 1,310,297 Embedded derivative liabilities in reinsurance contracts (3) USD $ 92 $ 20,000 Total Derivative Liabilities (embedded) $ 92 $ 20,000 (1) BRL = Brazilian Real, CAD = Canadian Dollar, CNH = Chinese Yuan, EUR = Euro, GBP = British Pound, HKD = Hong Kong Dollar, JPY = Japanese Yen, MXN = Mexican Peso, SAR = Saudi Arabian Riyal, USD = US Dollar, ZAR = South African Rand (2) The absolute notional exposure represents the Company’s derivative activity as of December 31, 2016 , which is representative of the volume of derivatives held during the period. (3) The fair value of embedded derivatives in reinsurance contracts is included in reinsurance balances payable in the consolidated balance sheets. As of December 31, 2015 Listing currency (1) Fair Value Notional Amounts (2) Derivative Assets by Primary Underlying Risk ($ in thousands) Credit Credit Default Swaps - Protection Purchased EUR/USD $ 21,692 $ 183,125 Equity Price Contracts for Differences - Long Contracts EUR/GBP/USD 631 41,686 Contracts for Differences - Short Contracts CHF/EUR/GBP/JPY/NOK/USD 5,884 80,027 Total Return Swaps - Long Contracts USD 415 58,799 Total Return Swaps - Short Contracts JPY/USD 466 9,457 Interest Rates Commodity Futures - Short Contracts USD 71 17,501 Interest Rate Swaptions JPY/USD 90 43,831 Foreign Currency Exchange Rates Foreign Currency Forward Contracts CAD/EUR/GBP/MXN/SAR 1,947 155,518 Foreign Currency Options - Purchased CNH/EUR/SAR 4,141 193,613 Total Derivative Assets $ 35,337 $ 783,557 Listing currency (1) Fair Value Notional Amounts (2) Derivative Liabilities by Primary Underlying Risk ($ in thousands) Credit Credit Default Swaps - Protection Purchased EUR/USD $ 3,449 $ 38,455 Credit Default Swaps - Protection Sold GBP/EUR/USD 2,054 6,436 Equity Price Contracts for Differences - Long Contracts EUR/GBP/USD 1,111 2,311 Contracts for Differences - Short Contracts EUR/GBP/USD 3,411 50,471 Total Return Swaps - Long Contracts JPY/USD 3,430 163,224 Total Return Swaps - Short Contracts AUD/JPY/USD 386 19,318 Interest Rates Commodity Futures - Short Contracts USD 18 13,069 Interest Rate Swaptions USD 17 87,499 Foreign Currency Exchange Rates Foreign Currency Forward Contracts JPY/SAR 1,041 87,127 Foreign Currency Options - Sold CNH/SAR 475 118,415 Total Derivative Liabilities (free standing) $ 15,392 $ 586,325 Embedded derivative liabilities in reinsurance contracts (3) USD $ 5,563 $ 20,000 Total Derivative Liabilities (embedded) $ 5,563 $ 20,000 (1) AUD = Australian Dollar, CAD = Canadian Dollar, CHF = Swiss Franc, CNH = Chinese Yuan, EUR = Euro, GBP = British Pound, JPY = Japanese Yen, MXN = Mexican Peso, NOK = Norwegian Krone, SAR = Saudi Arabian Riyal, USD = US Dollar (2) The absolute notional exposure represents the Company’s derivative activity as of December 31, 2015 , which is representative of the volume of derivatives held during the period. (3) The fair value of embedded derivatives in reinsurance contracts is included in reinsurance balances payable in the consolidated balance sheets. The following table sets forth, by major risk type, the Company’s realized and unrealized gains (losses) relating to derivatives for the years ended December 31, 2016 , 2015 and 2014 . Realized and unrealized gains (losses) related to free standing derivatives are included in net investment income (loss) in the consolidated statements of income (loss) . Realized and unrealized gains (losses) related to embedded derivatives are included in other expenses in the consolidated statements of income (loss) . 2016 2015 2014 Primary Underlying Risk Realized Gain (Loss) Unrealized Gain (Loss)* Realized Gain (Loss) Unrealized Gain (Loss)* Realized Gain (Loss) Unrealized Gain (Loss)* Commodity Price ($ in thousands) Commodities Futures - Long Contracts $ — $ — $ (1,515 ) $ — $ — $ — Commodity Future Options - Purchased 651 — (286 ) 285 (470 ) (289 ) Commodity Future Options - Sold — — 272 (269 ) 364 101 Credit Credit Default Swaps - Protection Purchased 4,311 (6,841 ) 1,282 4,839 (5,627 ) 1,018 Credit Default Swaps - Protection Sold (4,009 ) 4,149 2,071 (2,098 ) 1,362 (830 ) Equity Price Contracts for Differences - Long Contracts (4,123 ) 2,245 (6,101 ) 660 (1,869 ) (11,621 ) Contracts for Differences - Short Contracts (253 ) (3,579 ) 8,459 2,418 (3,873 ) 413 Total Return Swaps - Long Contracts (6,835 ) 1,957 1,410 (2,469 ) 18,782 (2,112 ) Total Return Swaps - Short Contracts (4,812 ) (1,198 ) (1,395 ) 45 (795 ) 171 Index Index Futures - Long Contracts — — 1,144 — (840 ) — Index Futures - Short Contracts — — — — (253 ) 441 Interest Rates Bond Futures - Short Contracts — — (2,584 ) — (1,077 ) (212 ) Commodities Futures - Short Contracts (281 ) (52 ) (580 ) 194 (11 ) (143 ) Fixed Income Swap - Short Contracts (94 ) — — — — — Interest Rate Swaps 205 1,740 119 — (743 ) 639 Interest Rate Swaptions (340 ) 869 (771 ) (39 ) (455 ) (918 ) Sovereign Debt Futures - Short Contracts 10,519 (647 ) — — — — Treasury Futures - Short Contracts — — (2,734 ) 280 (1,163 ) (388 ) Foreign Currency Exchange Rates Foreign Currency Forward (2,747 ) (2,261 ) 21,429 (3,334 ) 16,891 3,617 Foreign Currency Options - Purchased (2,338 ) (2,229 ) 318 (1,144 ) (265 ) 941 Foreign Currency Options - Sold 617 (103 ) 1,214 316 (1,438 ) 63 Reinsurance contract derivatives — — 30 — — 982 $ (9,529 ) $ (5,950 ) $ 21,782 $ (316 ) $ 18,520 $ (8,127 ) Embedded Derivatives Embedded derivatives in reinsurance contracts $ — $ 260 $ (5 ) $ 362 $ — $ 102 Embedded derivatives in deposit contracts — — 2,104 — — (2,090 ) Total Derivative Liabilities (embedded) $ — $ 260 $ 2,099 $ 362 $ — $ (1,988 ) * Unrealized gain (loss) relates to derivatives still held at reporting date. The Company’s derivative contracts are generally subject to the International Swaps and Derivatives Association (“ISDA”) Master Agreements or other similar agreements that contain provisions setting forth events of default and/or termination events (“credit-risk-related contingent features”), including but not limited to provisions setting forth maximum permissible declines in the Company’s net asset value. Upon the occurrence of a termination event with respect to an ISDA Agreement, the Company’s counterparty could elect to terminate the derivative contracts governed by such agreement, resulting in the realization of any net gains or losses with respect to such derivative contracts and the return of collateral held by such party. The Company obtains/provides collateral from/to various counterparties for OTC derivative and futures contracts in accordance with bilateral collateral agreements. As of December 31, 2016 , the aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position was $6.1 million ( December 31, 2015 - $1.8 million ) for which the Company posted collateral in the form of cash of $48.8 million ( December 31, 2015 - $62.6 million ) of collateral in the normal course of business. Similarly, the Company held collateral (approximately $4.2 million ) in cash from certain counterparties as of December 31, 2016 . If the credit-risk-related contingent features underlying these instruments had been triggered as of December 31, 2016 and the Company had to settle these instruments immediately, no additional amounts would be required to be posted that would exceed the settlement amounts of open derivative contracts or in the case of cross margining relationships, the assets in the Company’s prime brokerage accounts are sufficient to offset the derivative liabilities. The Company’s derivatives do not qualify as hedges for financial reporting purposes and are recorded in the consolidated financial statements on a gross basis and not offset against any collateral pledged or received. Pursuant to ISDA master agreements and other counterparty agreements, the Company and its counterparties typically have the ability to net certain payments owed to each other in specified circumstances. In addition, in the event a party to one of the ISDA master agreements or other derivatives agreements defaults, or a transaction is otherwise subject to termination, the non-defaulting party generally has the right to offset against payments owed to the defaulting party or collateral held by the non-defaulting party. The Company has pledged cash collateral to counterparties to support the current value of amounts due to the counterparties based on the value of the underlying security. As of December 31, 2016 and 2015 , the gross and net amounts of derivative instruments and repurchase and reverse repurchase agreements that are subject to enforceable master netting arrangements or similar agreements were as follows: Gross Amounts not Offset in the Consolidated Balance Sheet December 31, 2016 Derivative Contracts Gross Amounts of Assets Presented in the Consolidated Balance Sheet (1) Financial Instruments Cash Collateral Received Net Amount Financial assets, derivative assets and collateral received ($ in thousands) Counterparty 1 $ 535 $ 535 $ — $ — Counterparty 2 3,147 607 — 2,540 Counterparty 3 8,652 4,760 — 3,892 Counterparty 4 1,639 1,639 — — Counterparty 5 7,336 3,027 — 4,309 Counterparty 6 6,262 2,599 3,383 280 Counterparty 7 227 — 197 30 Counterparty 8 277 277 — — Counterparty 9 37 37 — — Total $ 28,112 $ 13,481 $ 3,580 $ 11,051 Gross Amounts not Offset in the Consolidated Balance Sheet December 31, 2016 Derivative Contracts Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet (2) Financial Instruments Cash Collateral Pledged Net Amount Financial liabilities, derivative liabilities and collateral pledged ($ in thousands) Counterparty 1 $ 2,959 $ 535 $ 2,424 $ — Counterparty 2 607 607 — — Counterparty 3 4,760 4,760 — — Counterparty 4 3,827 1,639 2,188 — Counterparty 5 3,027 3,027 — — Counterparty 6 2,599 2,599 — — Counterparty 8 977 277 — 700 Counterparty 9 822 37 785 — Total $ 19,578 $ 13,481 $ 5,397 $ 700 Securities lending transactions Counterparty 3 $ 302 $ 302 $ — $ — $ 302 $ 302 $ — $ — (1) The Gross Amounts of Assets Presented in the consolidated balance sheets presented above includes the fair value of Derivative Contract assets as well as gross OTC option contract assets of $0.7 million included in Other Investments in the consolidated balance sheets. (2) The Gross Amounts of Liabilities Presented in the consolidated balance sheets presented above includes the fair value of Derivative Contract liabilities as well as gross OTC option contract liabilities of $3.5 million included in Securities sold, not yet purchased in the consolidated balance sheets. Gross Amounts not Offset in the Consolidated Balance Sheet December 31, 2015 Derivative Contracts Gross Amounts of Assets Presented in the Consolidated Balance Sheet (1) Financial Instruments Cash Collateral Received Net Amount Financial assets, derivative assets and collateral received ($ in thousands) Counterparty 1 $ 2,171 $ 2,171 $ — $ — Counterparty 2 4,959 1,243 — 3,716 Counterparty 3 6,347 2,335 — 4,012 Counterparty 4 3,679 2,656 — 1,023 Counterparty 5 14,181 4,027 — 10,154 Counterparty 6 7,351 1,657 1,993 3,701 Counterparty 7 882 — 194 688 Counterparty 8 2,669 2,669 — — Counterparty 9 2,009 542 — 1,467 Total $ 44,248 $ 17,300 $ 2,187 $ 24,761 Gross Amounts not Offset in the Consolidated Balance Sheet December 31, 2015 Derivative Contracts Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet (2) Financial Instruments Cash Collateral Pledged Net Amount Financial liabilities, derivative liabilities and collateral pledged ($ in thousands) Counterparty 1 $ 2,626 $ 2,171 $ 455 $ — Counterparty 2 1,243 1,243 — — Counterparty 3 2,335 2,335 — — Counterparty 4 2,816 2,656 160 — Counterparty 5 4,028 4,028 — — Counterparty 6 1,657 1,657 — — Counterparty 8 3,659 2,669 — 990 Counterparty 9 542 542 — — Counterparty 15 153 6 147 — Total $ 19,059 $ 17,307 $ 762 $ 990 Securities sold under an agreement to repurchase and securities lending transactions Counterparty 3 $ 114 $ — $ 112 $ 2 Counterparty 4 8,944 8,944 — — $ 9,058 $ 8,944 $ 112 $ 2 (1) The Gross Amounts of Assets Presented in the consolidated balance sheets presented above includes the fair value of Derivative Contract assets as well as gross OTC option contract assets of $8.9 million included in Other Investments in the consolidated balance sheets. (2) The Gross Amounts of Liabilities Presented in the consolidated balance sheets presented above includes the fair value of Derivative Contract liabilities as well as gross OTC option contract liabilities of $3.7 million included in Securities sold, not yet purchased in the consolidated balance sheets.

Loss and loss adjustment expens

Loss and loss adjustment expense reserves	12 Months Ended
	Dec. 31, 2016
Loss and Loss Adjustment Expense Reserves [Abstract]
Loss and loss adjustment expense reserves	As of December 31, 2016 and 2015 , loss and loss adjustment expense reserves in the consolidated balance sheets was comprised of the following: December 31, December 31, ($ in thousands) Case loss and loss adjustment expense reserves $ 80,370 $ 87,186 Incurred but not reported loss and loss adjustment expense reserves 522,818 375,690 Deferred gains on retroactive reinsurance contracts 1,941 3,171 $ 605,129 $ 466,047 Reserving methodologies The Company’s methodology for reserving for its reinsurance contracts and determining its loss and loss adjustment expense reserves, including incurred but not reported reserves, is as follows: The Company’s actuaries perform an actuarial projection of the Company’s reserves quarterly and have a third-party actuarial review performed annually. All reserves are estimated on an individual contract basis; there is no aggregation of contracts for projection of ultimate loss or reserves. The Company typically initially reserves individual contracts to the expected loss and loss expense ratio in its pricing analysis. As loss information is received from cedents, the Company incorporates other actuarial methods into its projection of ultimate losses and, hence, reserves. In the Company’s pricing analysis, there is a significant amount of information unique to the individual client and, when necessary, the analysis is supplemented with industry data. Industry data primarily takes the form of paid and incurred development patterns from statutory financial statements and statistical agencies. For the Company’s actuarial reserve projections, the relevant information received from clients includes premium estimates, paid loss and loss adjustment expenses and case reserves. The Company’s actuaries review the data for reasonableness and research any noted anomalies. On each contract, the Company’s actuaries compare the expected paid and incurred amounts at each quarter-end with actual amounts reported. The Company’s actuaries also compare premiums received with projected premium receipts at each quarter end. There is a time lag between when a covered loss event occurs and when it is reported to the Company’s cedents. There is also a time lag between when clients pay claims, establish case reserves and re-estimate their reserves, and when they notify the Company of the payments and/or new or revised case reserves. This reporting lag is typically 60 to 90 days after the end of a reporting period, but can be longer in some cases. The Company’s actuaries use techniques that adjust for this reporting lag. While it would be unusual to have lags that extend beyond 90 days, the Company’s actuarial techniques are designed to adjust for such a circumstance. The principal actuarial methods (and associated key assumptions) used to perform the Company’s quarterly loss reserve analysis may include one or more of the following methods: A priori loss ratio method To estimate ultimate losses using the a priori loss ratio method, the Company multiplies earned premiums by an expected loss ratio. The expected loss ratio is selected as part of the pricing and utilizes individual client data, supplemented by industry data where necessary. This method is often useful when there is limited historical data due to few losses being incurred. Paid loss development method This method estimates ultimate losses by calculating past paid loss development factors and applying them to exposure periods with further expected paid loss development. The paid loss development method assumes that losses are paid at a rate consistent with the historical rate of payment. It provides an objective test of reported loss projections because paid losses contain no reserve estimates. For some lines of business, claim payments are made slowly and it may take many years for claims to be fully reported and settled. Incurred loss development method This method estimates ultimate losses by using past incurred loss development factors and applying them to exposure periods with further expected incurred loss development. Since incurred losses include payments and case reserves, changes in both of these amounts are incorporated in this method. This approach provides a larger volume of data to estimate ultimate losses than paid loss methods. Thus, incurred loss patterns may be less varied than paid loss patterns, especially for coverages that have historically been paid out over a long period of time but for which claims are incurred relatively early and case loss reserve estimates are established. Bornhuetter-Ferguson paid and incurred loss methods These methods are a weighted average of the a priori loss ratio method and the relevant development method. The weighting between the two methods depends on the maturity of the business. This means that for the more recent years a greater weight is placed on the a priori loss ratio method, while for the more mature years a greater weight is placed on the development methods. These methods avoid some of the distortions that could result from a large development factor being applied to a small base of paid or incurred losses to calculate ultimate losses. This method will react slowly if actual paid or incurred loss experience develops differently than historical paid or incurred loss experience because of major changes in rate levels, retentions or deductibles, the forms and conditions of coverage, the types of risks covered or a variety of other factors. IBNR to outstanding ratio method This method is used in selected cases typically for very mature years that still have open claims. This method assumes that the estimated future loss development is indicated by the current level of case reserves. Key to the projection of ultimate loss is the amount of credibility or weight assigned to each actuarial method. Each method has advantages and disadvantages, and those can change depending on numerous factors including the reliability of the underlying data. The selection and weighting of the projection methods is a highly subjective process. In order to achieve a desirable amount of consistency from study to study and between contracts, the Company’s actuaries have implemented a weighting scheme that incorporates numerous “rules” for the weighting of actuarial methods. These rules attempt to effectively standardize the process used for selecting weights for the various methods. There are numerous circumstances where the rules would be modified for specific reinsurance contracts; examples would include a large market event or new information on historical years that may cause us to increase our a priori loss ratio. As part of the Company’s quarterly reserving process, loss-sensitive contingent expenses (e.g., profit commissions, sliding-scale ceding commissions, etc.) are calculated on an individual contract basis. These expense calculations are based on the updated ultimate loss estimates derived from the Company's quarterly reserving process. The Company’s reserving methodologies use a loss reserving model that calculates a point estimate for the Company’s ultimate losses. Although the Company believes that its assumptions and methodologies are reasonable, the ultimate payments may vary, potentially materially, from the estimates that the Company has made. There were no significant changes made to the Company’s methodology for calculating loss and loss adjustment reserves for the year ended December 31, 2016 . Roll forward of loss and loss adjustment expense reserves The following table represents the activity in the loss and loss adjustment expense reserves for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Gross reserves for loss and loss adjustment expenses, beginning of year $ 466,047 $ 277,362 $ 134,331 Less: loss and loss adjustment expenses recoverable, beginning of year (125 ) (814 ) (9,277 ) Net reserves for loss and loss adjustment expenses, beginning of year 465,922 276,548 125,054 Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in: Current year 373,048 419,377 286,787 Prior years 23,930 (3,330 ) (3,559 ) Amortization of deferred gains on retroactive reinsurance contracts (1,046 ) (856 ) (81 ) Total incurred loss and loss adjustment expenses 395,932 415,191 283,147 Net loss and loss adjustment expenses paid in respect of losses occurring in: Current year (105,921 ) (100,403 ) (70,562 ) Prior years (133,241 ) (121,665 ) (61,091 ) Total net paid losses (239,162 ) (222,068 ) (131,653 ) Foreign currency translation (17,564 ) (3,749 ) — Net reserve for loss and loss adjustment expenses, end of year 605,128 465,922 276,548 Plus: loss and loss adjustment expenses recoverable, end of year 1 125 814 Gross reserve for loss and loss adjustment expenses, end of year $ 605,129 $ 466,047 $ 277,362 Changes in the Company’s loss and loss adjustment expense reserves result from re-estimating loss reserves and from changes in premium estimates. Furthermore, many of the Company’s contracts have sliding scale or profit commissions whereby loss reserve development can be offset by changes in acquisition costs that vary inversely with loss experience. In some instances, the Company can have loss reserve development on contracts where there is no sliding scale or profit commission or where the loss ratio falls outside of the loss ratio range to which the sliding scale or profit commission applies. The $23.9 million increase in prior years’ reserves for the year ended December 31, 2016 includes $10.5 million of net adverse reserve development related to re-estimating loss reserves and $13.4 million of additional loss reserves resulting from increase s in premium estimates on certain contracts. The net increase in loss reserves as well as the impact of any offsetting changes in acquisition costs as a result of sliding scale or profit commissions is explained as follows: • The $10.5 million of net adverse prior years’ reserve development for the year ended December 31, 2016 was accompanied by net increase s of $2.0 million in acquisition costs, resulting in a net increase of $12.5 million in net underwriting loss, primarily due to: ◦ $4.8 million of net adverse underwriting loss development relating to one multi-line contract written since 2014. This contract contains underlying commercial auto physical damage and auto extended warranty exposure. The adverse loss experience is a result of an increase in the number of reported claims and inadequate pricing in certain segments of the underlying business; ◦ $4.0 million of net adverse underwriting loss development relating to non-standard auto contracts, primarily due to the inability of cedents to promptly react to increasing frequency and severity trends, resulting in underpriced business and adverse selection; ◦ $3.7 million of net adverse underwriting loss development relating to our Florida homeowners’ reinsurance contracts primarily as a result of higher than anticipated water damage claims and an increase in the practice of assignment of benefits whereby homeowners assign their rights for filing and settling claims to attorneys and public adjusters, which has led to increases in the frequency of claims reported as well as the severity of losses and loss adjustment expenses. Contracts for which we experienced this adverse loss development have not been renewed; ◦ $3.3 million of net adverse underwriting loss development relating to a workers’ compensation contract written from 2012 to 2014 under which we have been experiencing higher than expected reported claims development that led to an increase in our previous loss assumptions on this contract; and ◦ $2.1 million of net favorable underwriting loss development from several other contracts. • The $13.4 million increase in loss and loss adjustment expenses incurred related to the increase in premium estimates on certain contracts was accompanied by a $6.4 million increase in acquisition costs, for a total of $19.8 million increase in loss and loss adjustment expenses incurred and acquisition costs. The related increase in earned premium related to the increase in premium estimates was $19.5 million , resulting in a $0.3 million increase to the net underwriting loss for the year ended December 31, 2016 . • In total, the change in net underwriting loss for prior periods due to loss reserve development and adjustments to premium estimates was an increase in net underwriting loss of $12.8 million for the year ended December 31, 2016 . The 3.3 million decrease in prior years’ reserves for the year ended December 31, 2015 includes $5.4 million of net favorable reserve development related to re-estimating loss reserves and $2.1 million of additional loss reserves resulting from increases in premium estimates on certain contracts. The net favorable reserve development as well as the impact of any offsetting changes in acquisition costs as a result of sliding scale or profit commissions is explained as follows: • The net $5.4 million of favorable prior years’ reserve development for the year ended December 31, 2015 was accompanied by net increases of $13.2 million in acquisition costs, resulting in a net increase of $7.8 million in net underwriting loss. The $7.8 million net increase in net underwriting loss was a result of having favorable loss reserve development on certain contracts that was either fully or partially offset by increases in sliding scale or profit commissions whereas certain workers’ compensation, auto and property contracts with adverse loss development did not have offsetting decreases in acquisition costs to the same degree, resulting in the net favorable development being more than offset by acquisition costs in the period. • The $2.1 million increase in loss and loss adjustment expenses incurred related to the increase in premium estimates on certain contracts was accompanied by similar changes in the net premiums earned and acquisition costs for those contracts, resulting in a net decrease of $0.3 million increase to the net underwriting loss for the year ended December 31, 2015. • In total, loss reserve development related to re-estimating loss reserves and increases in premium estimates for prior years resulted in an increase of $7.5 million in net underwriting loss for the year ended December 31, 2015 . The $3.6 million decrease in prior years’ reserves for the year ended December 31, 2014 reflects $0.7 million of favorable loss experience and $2.9 million resulting from decreases in premium estimates on certain contracts. The net favorable reserve development as well as the impact of any offsetting changes in acquisition costs as a result of sliding scale or profit commissions is explained as follows: • The net $0.7 million of favorable prior years’ reserve development for the year ended December 31, 2014 was accompanied by net increases of $0.3 million in acquisition costs, resulting in a net decrease of $0.4 million in net underwriting loss. • The $2.9 million of favorable development related to the decrease in premium estimates on certain contracts was accompanied by a $0.4 million decrease in acquisition costs, for a total of $3.3 million decrease in loss and loss adjustment expenses incurred and acquisition costs. The decrease in earned premium related to the decrease in premium estimates was $3.7 million , resulting in an increase in net underwriting loss of $0.4 million for the year ended December 31, 2014. • In total, loss reserve development related to re-estimating loss reserves and decreases in premium estimates for prior years resulted in minimal impact to net underwriting loss for the year ended December 31, 2014 The net paid losses for the years ended December 31, 2016 , 2015 and 2014 included $1.0 million , $79.1 million and $10.8 million of paid losses related to contracts that were commuted during the years ended December 31, 2016 , 2015 and 2014 , respectively. Incurred and paid development tables by accident year The Company’s loss reserve analysis is based primarily on underwriting year data. The preparation of accident year development tables requires an allocation of underwriting year data to the corresponding accident years. For instance, a contract written in one particular underwriting year may have exposure to losses from two or more accident years. These allocations are done using accident year loss payment and reporting patterns, which are derived from either company-specific or industry historical loss data, depending on availability and applicability. The Company believes that its allocations are reasonable; however, to the extent that the Company’s allocation procedure for loss and loss adjustment expenses incurred differs from actual historical development, the actual loss development may differ materially from the loss development presented. Additionally, the Company writes retroactive reinsurance contracts for which the reserves are not allocated to the underlying accident years but instead, presented in the loss triangles in the accident year that the contract incepted. As described in the roll forward of loss and loss adjustment expense reserves section above, changes in the Company’s loss and loss adjustment expense reserves result from both re-estimating loss reserves as well as changes in premium estimates. In addition, many of the Company’s contracts have sliding scale or profit commissions whereby loss reserve development can be offset by changes in acquisition costs. See additional disclosure above on the net impact on underwriting income after considering the impact of changes in premium estimates and the impact of acquisition costs for the years ended December 31, 2016 , 2015 and 2014 . The following tables present the Company’s total loss and loss adjustment expenses incurred, net and net loss and loss adjustment expenses paid by accident years for the years ended December 31, 2016 , 2015 , 2014 , 2013 and 2012: Loss and loss adjustment expenses incurred, net (1)(2) Accident year 2012 2013 2014 2015 2016 IBNR loss and loss adjustment expense reserves, net ($ in thousands) (Unaudited) (Unaudited) (Unaudited) (Unaudited) 2012 $ 80,306 $ 75,413 $ 76,273 $ 76,538 $ 76,628 $ 290 2013 — 144,508 140,123 144,312 144,058 10,404 2014 — — 284,464 275,622 274,910 74,768 2015 — — — 396,635 421,923 204,039 2016 — — — — 366,725 233,317 Total $ 1,284,244 Cumulative net losses and loss adjustment expenses paid (1)(2) Accident year 2012 2013 2014 2015 2016 ($ in thousands) (Unaudited) (Unaudited) (Unaudited) (Unaudited) 2012 $ 13,035 $ 67,449 $ 73,503 $ 74,941 $ 75,770 2013 — 27,528 82,565 109,489 118,729 2014 — — 70,562 163,250 185,979 2015 — — — 98,665 196,933 2016 — — — — 103,646 Total $ 681,057 Net reserves for loss and loss adjustment expenses, end of year $ 603,187 Deferred gains on retroactive reinsurance contracts 1,941 Loss and loss adjustment expenses recoverable, end of year 1 Gross reserve for loss and loss adjustment expenses, end of year $ 605,129 (1) For purposes of this disclosure and for all periods presented, the Company’s contracts in foreign currencies are translated at the foreign exchange rate in effect as of December 31, 2016 . (2) The information presented is for the Property and Casualty Reinsurance segment only, which captures all of the Company’s underwriting activities. The Catastrophe Risk Management segment has been excluded from this presentation (see Note 22 for additional information on the Catastrophe Risk Management segment). Cumulative claims frequency The Company determined that the disclosure of claim frequency analysis was impracticable. As a result, no claims frequency information has been disclosed. The Company’s business is primarily comprised of reinsurance contracts written on a quota share or aggregate loss basis and the underlying claim count information is not provided for most contracts. Furthermore, even if claim counts were made available by the Company’s cedents, the quota share cession percentage varies for each contract, resulting in the cedent claim counts not being a meaningful measure of the Company’s loss exposure. Claims duration The following table presents the Company’s historical average annual percentage payout of loss and loss adjustment expenses incurred, net by age as of December 31, 2016 : Year 1 Year 2 Year 3 Year 4 Year 5 (Unaudited) 22.7 % 41.6 % 11.6 % 4.1 % 1.1 % The Company was incorporated on October 6, 2011, commenced underwriting operations in January 2012 and predominantly writes a mix of short to medium tail personal and commercial lines. As a result, the Company has limited historical data and is unable to present a full cycle of claim payments.

Management, performance and fou

Management, performance and founders fees	12 Months Ended
	Dec. 31, 2016
Management, Performance and Founders Fees [Abstract]
Management, performance and founders fees	Third Point Reinsurance Ltd., Third Point Re, TPRUSA and Third Point Re USA are party to Joint Venture and Investment Management Agreements (the “Investment Agreements”) with Third Point LLC and Third Point Advisors LLC (“TP GP”) under which Third Point LLC manages certain jointly held assets. Pursuant to the Investment Agreements, TP GP receives a performance fee allocation equal to 20% of the net investment income of the applicable company’s share of the investment assets managed by Third Point LLC. The performance fee accrued on net investment income is included in liabilities as a performance fee payable during the period, unless funds are redeemed from the Joint Venture accounts, in which case, the proportionate share of performance fee associated with the redemption is allocated to non-controlling interests. At the end of each year, the remaining portion of the performance fee payable that has not been included in non-controlling interests through redemptions is then allocated to TP GP’s capital account in accordance with the Investment Agreements. The performance fee is subject to a loss carryforward provision pursuant to which TP GP is required to maintain a loss recovery account, which represents the sum of all prior period net loss amounts not offset by prior year net profit amounts, and that is allocated to future profit amounts until the loss recovery account has returned to a positive balance. Until such time, no performance fees are payable under the Investment Agreements. As of December 31, 2016 , the loss recovery account for Third Point Re’s investment account was $ nil (December 31, 2015 - $5.0 million ) and for Third Point Re USA’s investment account was $ nil (December 31, 2015 - $ 1.2 million ). The loss carryforward amounts were not recorded in the Company’s consolidated balance sheets. Additionally, Third Point LLC is entitled to receive management fees, which are paid monthly, whereas performance fees are paid annually, in arrears. Pursuant to the Investment Agreements, up to December 22, 2016, the date the initial agreements expired, a total management fee of 2% , annually of the investment assets managed by Third Point LLC was paid to Third Point LLC and certain founding investors. In June 2016, Third Point Reinsurance Ltd., Third Point Re, TPRUSA and Third Point Re USA entered into amended and restated Joint Venture and Investment Management Agreements with Third Point LLC and TP GP for an additional five year term, effective on December 22, 2016. These agreements have similar terms to the expired agreements, however, the management fee was reduced from 2% to 1.5% , and is only paid to Third Point LLC thereafter. Investment fee expenses related to the Investment Agreements, which are included in net investment income (loss) in the consolidated statements of income (loss) for the years ended December 31, 2016 , 2015 and 2014 are as follows: 2016 2015 2014 ($ in thousands) Management fees - Third Point LLC $ 7,110 $ 6,362 $ 5,037 Management fees - Founders (1) 35,321 36,053 28,544 Performance fees - Third Point Advisors LLC 17,276 862 19,935 $ 59,707 $ 43,277 $ 53,516 (1) Up to December 22, 2016, KEP TP Bermuda Ltd., KIA TP Bermuda Ltd., Pine Brook LVR, L.P., P RE Opportunities Ltd. and Dowling Capital Partners I, L.P., collectively the “Founders”, received a share of the management fees in proportion to their initial investments in Third Point Reinsurance Ltd. As of December 31, 2016 , $17.3 million ( December 31, 2015 - $0.9 million ) related to performance fees earned by TP GP were included in non-controlling interests.

Deposit contracts

Deposit contracts	12 Months Ended
	Dec. 31, 2016
Deposit Contracts, Liabilities [Abstract]
Deposit contracts	The following table represents activity in the deposit contacts for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Balance, beginning of year $ 83,955 $ 145,430 $ 120,946 Consideration received 22,463 21,246 18,398 Net investment expense (income) allocation and change in fair value of embedded derivatives (164 ) 2,207 6,436 Payments (915 ) (84,928 ) (350 ) Foreign currency translation (434 ) — — Balance, end of year $ 104,905 $ 83,955 $ 145,430

Senior Notes payable and letter

Senior Notes payable and letter of credit facilities (Notes)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Senior Notes payable and letter of credit facilities	Senior Notes payable As of December 31, 2016 , TPRUSA had outstanding debt obligations consisting of an aggregate principal amount of $115.0 million of senior unsecured notes (the “Notes”) due February 13, 2025. The Notes bear interest at 7.0% and interest is payable semi-annually on February 13 and August 13 of each year. The Notes are fully and unconditionally guaranteed by Third Point Reinsurance Ltd., and, in certain circumstances specified in the indenture governing the Notes, certain existing or future subsidiaries of the Company may be required to guarantee the Notes. As of December 31, 2016 , the Company had capitalized $1.4 million of costs associated with the Notes, which are presented as a direct deduction from the principal amount of the Notes on the consolidated balance sheets. As of December 31, 2016 , the Notes had an estimated fair value of $103.4 million (December 2015 - $104.8 million ). The fair value measurements were based on observable inputs and therefore are considered to be Level 2. The Company was in compliance with all of the debt covenants as of December 31, 2016 and 2015 . Letters of credit As of December 31, 2016 , the Company had entered into the following letter of credit facilities: Facility Utilized Collateral December 31, 2016 ($ in thousands) BNP Paribas $ 50,000 $ 7,976 $ 7,976 Citibank 300,000 157,070 157,070 J.P. Morgan 50,000 9 9 Lloyds Bank (1) 125,000 66,767 66,767 $ 525,000 $ 231,822 $ 231,822 (1) During the year, the Lloyds Bank facility of $100.0 million with Third Point Re was terminated and two new facilities were entered into, $75.0 million with Third Point Re and $50.0 million with Third Point Re USA. The Company’s letter of credit facilities are bilateral agreements that generally renew on an annual basis. The letters of credit issued under the letter of credit facilities are fully collateralized. See Note 3 for additional information.

Net investment income

Net investment income	12 Months Ended
	Dec. 31, 2016
Net Investment Income [Abstract]
Net investment income	Net investment income (loss) for the years ended December 31, 2016 , 2015 and 2014 consisted of the following: 2016 2015 2014 Net investment income (loss) by type ($ in thousands) Net realized gains on investments and investment derivatives $ 33,505 $ 14,398 $ 193,957 Net unrealized gains (losses) on investments and investment derivatives 70,290 (34,181 ) (83,146 ) Net gains (losses) on foreign currencies (2,557 ) 933 2,581 Dividend and interest income 77,160 45,103 31,750 Dividends paid on securities sold, not yet purchased (1,977 ) (1,279 ) (120 ) Management and performance fees (59,707 ) (43,277 ) (53,516 ) Other expenses (19,422 ) (11,305 ) (7,151 ) Net investment income (loss) on investments managed by Third Point LLC 97,292 (29,608 ) 84,355 Net gain on investment in Kiskadee Fund 1,533 1,465 — Net investment income related to Catastrophe Reinsurer and Catastrophe Fund — 69 1,227 $ 98,825 $ (28,074 ) $ 85,582 2016 2015 2014 Net investment income (loss) by asset class ($ in thousands) Net investment gains (losses) on equity securities $ 90,089 $ (31,224 ) $ 82,902 Net investment gains on debt securities 134,512 35,502 80,285 Net investment losses on other investments (27,349 ) (35,917 ) (35,491 ) Net investment gains (losses) on investment derivatives (15,479 ) 21,466 10,393 Net investment gains (losses) on securities sold, not yet purchased (5,030 ) 33,086 4,334 Net investment income (loss) on cash, including foreign exchange gains (losses) (10,173 ) 149 4,992 Net investment losses on securities purchased under an agreement to resell — (147 ) (4,099 ) Net investment losses on securities sold under an agreement to repurchase (1,970 ) (2,226 ) — Management and performance fees (59,707 ) (43,277 ) (53,516 ) Other investment expenses (6,068 ) (5,486 ) (4,218 ) $ 98,825 $ (28,074 ) $ 85,582

Other expenses

Other expenses	12 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
Other expenses	Other expenses for the years ended December 31, 2016 , 2015 and 2014 consisted of the following: 2016 2015 2014 ($ in thousands) Deposit liabilities investment expense (income) $ (164 ) $ 6,471 $ 4,346 Reinsurance contracts investment expense 8,811 6,764 1,061 Change in fair value of embedded derivatives in deposit and reinsurance contracts (260 ) (4,621 ) 1,988 $ 8,387 $ 8,614 $ 7,395

Income taxes (Notes)

Income taxes (Notes)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income taxes	provides for income tax expense or benefit based upon pre-tax income or loss reported in the consolidated financial statements and the provisions of currently enacted tax laws. The Company and its Bermuda subsidiaries are incorporated under the laws of Bermuda and are subject to Bermuda law with respect to taxation. Under current Bermuda law, the Company and its Bermuda subsidiaries are not subject to any income or capital gains taxes in Bermuda. In the event that such taxes are imposed, the Company and its Bermuda subsidiaries would be exempted from any such taxes until March 2035 under the Tax Assurance Certificates issued to such entities pursuant to the Bermuda Exempted Undertakings Tax Protection Act of 1966, as amended. The Company has an operating subsidiary incorporated in Bermuda, Third Point Re USA, which made an election to pay tax in the United States of America under Section 953(d) of the U.S. Internal Revenue Code of 1986, as amended. The operations of Third Point Re USA will be subject to U.S. federal income taxes generally at a rate of 35%. Our non-U.S. subsidiaries would become subject to U.S. federal income tax only to the extent that they derive income from activity that is deemed to be the conduct of a trade or business within the United States. The Company also has subsidiaries in the United Kingdom, TPRUK and Third Point Re UK, which are subject to applicable taxes in that jurisdiction. The Company is subject to withholding taxes on income sourced in the United States and in other countries, subject to each countries’ specific tax regulations. Income subject to withholding taxes includes, but is not limited to, dividends, capital gains and interest on certain investments. The Company has recorded uncertain tax positions related to investment transactions in certain foreign jurisdictions. As of December 31, 2016 , the Company has accrued $1.6 million (December 31, 2015 - $1.5 million ) for uncertain tax positions. For the years ended December 31, 2016 , 2015 and 2014 , the Company recorded income tax expense (benefit), as follows: 2016 2015 2014 ($ in thousands) Income tax expense (benefit) related to U.S. and U.K. subsidiaries $ (1,232 ) $ (6,633 ) $ 24 Change in uncertain tax positions 147 (1,100 ) 2,600 Withholding taxes on certain investment transactions 6,678 4,828 3,024 Income tax expense (benefit) $ 5,593 $ (2,905 ) $ 5,648 The following is a summary of the Company’s income (loss) before income tax expense (benefit) by jurisdiction for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Bermuda $ 38,243 $ (71,416 ) $ 62,649 United States (3,687 ) (18,981 ) (255 ) United Kingdom (87 ) 53 (36 ) Income (loss) before income tax expense (benefit) $ 34,469 $ (90,344 ) $ 62,358 The Company’s expected income tax provision computed on pre-tax income at the weighted average tax rate has been calculated as the sum of the pre-tax income in each jurisdiction multiplied by that jurisdiction’s applicable statutory tax rate. Statutory tax rates of 0.0% , 35.0% and 21.0% have been used for Bermuda, the United States and the United Kingdom, respectively. As of December 31, 2016, the Company has one income tax return open for examination in the United States for the tax year 2015. The following table presents a reconciliation of expected income taxes to income tax expense (benefit) for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Bermuda (expected tax expense at 0%) $ — $ — $ — Foreign taxes at local expected rates: United States (1,290 ) (6,644 ) — United Kingdom (17 ) 11 24 Withholding taxes related to dividend and interest income 6,678 4,828 3,024 Uncertain tax positions 147 (1,100 ) 2,600 Non-deductible expenses and other 75 — — Income tax expense (benefit) $ 5,593 $ (2,905 ) $ 5,648 The following table presents the Company’s current and deferred incomes taxes for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Current tax expense $ 6,825 $ 3,728 $ 5,648 Deferred tax expense (benefit) (1,232 ) (6,633 ) — Income tax expense (benefit) $ 5,593 $ (2,905 ) $ 5,648 The following table presents the tax effects of temporary differences that give rise to the deferred tax assets and deferred tax liabilities as of December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Deferred tax assets: Discounting of loss and loss adjustment expense reserves $ 451 $ 119 $ — Unearned premiums 2,486 2,329 — Temporary differences in recognition of expenses 1,134 573 — Net operating loss carryforward 13,326 7,839 — Total deferred tax assets 17,397 10,860 — Deferred tax liabilities: Deferred acquisition costs 4,079 3,515 — Unrealized gains on investments 5,438 712 — Total deferred tax liabilities 9,517 4,227 — Net deferred tax assets $ 7,880 $ 6,633 $ — The deferred tax assets and liabilities as of December 31, 2016 were primarily related to U.S. income tax. To evaluate the recoverability of the deferred tax assets, the Company considers the timing of the reversal of deferred income and expense items as well as the likelihood that the Company will generate sufficient taxable income to realize future tax benefits. The Company believes that it is more likely than not that it will generate sufficient taxable income and realize the future tax benefits in order to recover the deferred assets and, accordingly, no valuation allowance was recorded as of December 31, 2016 and 2015 . As of December 31, 2016 , deferred tax assets include $13.3 million net operating loss related to the Company’s U.S. subsidiaries that can be carried forward for twenty years and part of which will begin to expire in 2035.

Share capital

Share capital	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Share capital	Authorized and issued The Company’s authorized share capital of $33.0 million is comprised of 300,000,000 common shares with a par value of $0.10 each and 30,000,000 preference shares with a par value of $0.10 each. No preference shares have been issued to date. Share repurchases On May 4, 2016, the Company’s Board of Directors authorized a common share repurchase program for up to an aggregate of $100.0 million of the Company’s outstanding common shares. Under the common share repurchase program, the Company may repurchase shares from time to time in privately negotiated transactions or in open-market purchases in accordance with all applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. During the year ended December 31, 2016 , we repurchased 644,768 of our common shares in the open market for an aggregate cost of $ 7.4 million at a weighted average cost, including commissions, of $ 11.46 per share. Common shares repurchased by the Company were not canceled and are classified as treasury shares. As of December 31, 2016 , the Company may repurchase up to an aggregate of $ 92.6 million of additional common shares under its share repurchase program. Warrants The Company’s Founders and an advisor provided insurance industry expertise, resources and relationships to ensure that the Company would be fully operational with key management in place in time for the January 2012 underwriting season. In consideration of these commitments, the Company reserved for issuance to the Founders and an advisor warrants to purchase, in the aggregate, up to 4.0% (Founders 3.5% and an advisor 0.5% ) of the diluted shares (up to a maximum of $1 billion of subscribed shares) provided that the Founders and the advisor will not be issued any warrants for common shares issued in consideration for any capital raised by the Company in excess of $1 billion . The following is a summary of warrants as of December 31, 2016 : Exercise price Authorized and issued Aggregated fair value of warrants ($ in thousands, except for share and per share amounts) Founders $ 10.00 4,069,868 $ 15,203 Advisor $ 10.00 581,295 2,171 4,651,163 $ 17,374 The warrants expire 10 years from the date of issuance, December 22, 2011, and will be exercisable at a price per share of $10.00 , which is equal to the price per share paid by investors in the initial private offering.

Share-based compensation

Share-based compensation	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation	On July 15, 2013, the Third Point Reinsurance Ltd. 2013 Omnibus Incentive Plan (“Omnibus Plan”) was approved by the Board of Directors and subsequently on August 2, 2013 by the Shareholders of the Company. An aggregate of 21,627,906 common shares were made available under the Omnibus Plan. This number of shares includes the shares available under the Third Point Reinsurance Ltd. Share Incentive Plan (“Share Incentive Plan”). Awards under the Omnibus Plan may be made in the form of performance awards, restricted shares, restricted share units, share options, share appreciation rights and other share-based awards. As of December 31, 2016 , 9,418,538 (December 31, 2015 - 9,786,902 ) of the Company’s common shares were available for future issuance under the equity incentive compensation plans. The following table provides the total share-based compensation expense included in general and administrative expenses during the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Management and director options $ 6,054 $ 6,264 $ 6,600 Restricted shares with service condition 1,365 1,953 2,591 Restricted shares with service and performance condition 1,519 2,654 67 $ 8,938 $ 10,871 $ 9,258 As of December 31, 2016 , the Company had $4.6 million (December 31, 2015 - $13.1 million ) of unamortized share compensation expense, which is expected to be amortized over a weighted average period of 1.4 years (December 31, 2015 - 1.3 years ). Management and director options The management options issued under the Share Incentive Plan were subject to a service and performance condition. The service condition will be met with respect to 20% of the management options on each of the first five anniversary dates following the grant date of the management options. The performance condition with respect to the management options was met as a result of the Company’s IPO. The management and director options activity for the years ended December 31, 2016 , 2015 and 2014 were as follows: Number of options Weighted average exercise price Balances as of January 1, 2014 10,981,075 $ 13.23 Granted 348,836 18.25 Forfeited (279,070 ) 13.20 Exercised (60,000 ) 10.00 Balances as of January 1, 2015 10,990,841 13.41 Forfeited (306,976 ) 14.36 Exercised (433,279 ) 10.00 Balances as of January 1, 2016 10,250,586 13.52 Forfeited (139,534 ) 18.00 Exercised (514,059 ) 10.00 Balances as of December 31, 2016 9,596,993 $ 13.64 The fair value of share options issued were estimated on the grant date using the Black-Scholes option-pricing model. There were no share options granted in the years ended December 31, 2016 and 2015. The share price used for purposes of determining the fair value of share options that were granted in the year ended December 31, 2014 was $15.05 . The volatility assumption used of 23.10% in 2014 was based on the average estimated volatility of a reinsurance company peer group. The other assumptions used in the option-pricing model were as follows: risk free interest rate of 2.20% in 2014 expected life of 6.5 years in 2014 , and a dividend yield of 0.0% in 2014 . As of December 31, 2016 , the weighted average remaining contractual term for options outstanding was 4.9 years ( 2015 - 6.0 years ). The following table summarizes information about the Company’s management and director share options outstanding as of December 31, 2016 : Options outstanding Options exercisable Range of exercise prices Number of options Weighted average exercise price Remaining contractual life Number of options Weighted average exercise price $10.00 - $10.89 5,274,334 $ 10.04 5.0 years 4,660,380 $ 10.02 $15.05 - $16.89 2,196,214 $ 15.94 4.8 years 1,907,842 $ 15.96 $20.00 - $25.05 2,126,445 $ 20.23 4.7 years 1,865,981 $ 20.16 9,596,993 $ 13.64 4.9 years 8,434,203 $ 13.61 The aggregate intrinsic value of options outstanding and options exercisable as of December 31, 2016 was $8.0 million and $7.1 million , respectively ( 2015 - $19.6 million and $13.4 million , respectively). For the year ended December 31, 2016 , the Company received proceeds of $5.1 million ( 2015 - $4.2 million ) from the exercise of options. Restricted shares with service condition Restricted shares vest either ratably or at the end of the required service period and contain certain restrictions during the vesting period, relating to, among other things, forfeiture in the event of termination of employment or service and transferability. Restricted share award activity for the restricted shares with only a service condition for the years ended December 31, 2016 , 2015 and 2014 was as follows: Number of non- vested restricted shares Weighted average grant date fair value Balance as of January 1, 2014 657,156 $ 10.30 Granted 49,684 15.39 Forfeited (17,800 ) 10.00 Vested (72,926 ) 15.56 Balance as of January 1, 2015 616,114 10.10 Granted 118,120 13.06 Forfeited (7,267 ) 13.76 Vested (425,924 ) 10.37 Balance as of January 1, 2016 301,043 11.12 Granted 47,712 11.37 Vested (47,712 ) 11.37 Balance as of December 31, 2016 301,043 $ 11.12 For the year ended December 31, 2016 , the Company issued 47,712 ( 2015 - 46,691 and 2014 - 40,070 ) to directors and no ( 2015 - 71,429 and 2014 - 9,614 ) restricted shares to employees. The restricted shares issued to employees in 2014 and 2015 will vest after three years from the date of issuance, subject to the grantee’s continued service with the Company. The restricted shares issued in 2016, 2015 and 2014 to directors vested on December 31, 2016, 2015, 2014, respectively. Restricted shares with service and performance condition In December 2014, February 2015 and February 2016, the Company granted performance-based restricted shares to certain employees pursuant to the Omnibus Plan. Performance-based restricted shares vest based on continued service and the achievement of certain financial performance measures over a three-year measurement period. The number of performance-based restricted shares that will be retained upon vesting will vary based on the level of achievement of the performance goals. The vesting dates for these awards are March 1, 2017, March 1, 2018 and March 1, 2019, respectively. The formula for determining the amount of shares that will vest is based on underwriting performance of the property and casualty reinsurance segment including underwriting income and the amount of float generated, as defined in the relevant award agreements. Restricted share award activity for the restricted shares with a service and performance condition for the years ended December 31, 2016 , 2015 and 2014 was as follows: Number of non- vested restricted shares Number of non- vested restricted shares probable of vesting Weighted average grant date fair value Balance as of January 1, 2014 — — $ — Granted 459,746 306,496 14.60 Balance as of January 1, 2015 459,746 306,496 14.60 Granted 514,276 342,846 14.00 Forfeited (52,469 ) (34,980 ) 14.29 Change in estimated restricted shares considered probable of vesting n/a (78,128 ) 14.60 Balance as of January 1, 2016 921,553 536,234 14.24 Granted 653,958 435,974 11.40 Forfeited (193,771 ) (119,009 ) 13.16 Change in estimated restricted shares considered probable of vesting n/a (275,713 ) 13.06 Balance as of December 31, 2016 1,381,740 577,486 $ 12.91

Non-controlling interests

Non-controlling interests	12 Months Ended
	Dec. 31, 2016
Noncontrolling Interest [Abstract]
Non-controlling interests	Non-controlling interests represent the portion of equity in consolidated subsidiaries not attributable, directly or indirectly, to the Company. The ownership interests in consolidated subsidiaries held by parties other than the Company have been presented in the consolidated balance sheets, as a separate component of shareholders’ equity. Non-controlling interests as of December 31, 2016 and 2015 were $35.7 million and $16.2 million , respectively. Income (loss) attributable to non-controlling interests for the years ended December 31, 2016 , 2015 and 2014 was: 2016 2015 2014 ($ in thousands) Catastrophe Fund $ — $ (121 ) $ 4,748 Catastrophe Fund Manager — 19 (23 ) Joint Venture - Third Point Advisors LLC share 1,241 53 1,590 $ 1,241 $ (49 ) $ 6,315 a) Third Point Reinsurance Opportunities Fund Ltd. and Third Point Re Cat Ltd. As of December 31, 2015, all investments in the Catastrophe Fund had been redeemed. In February 2016, the Company completed the dissolution of the Catastrophe Fund. For the year ended December 31, 2015, the Catastrophe Fund distributed $119.4 million (Third Point Re’s share - $59.4 million ) resulting in a distribution of non-controlling interests for the Catastrophe Fund of $60.0 million for the year ended December 31, 2015. For the year ended December 31, 2014, the Catastrophe Fund distributed $6.2 million (Third Point Re’s share - $ nil ) resulting in contributions to non-controlling interests for the Catastrophe Fund of $6.2 million for the year ended December 31, 2014. b) Third Point Reinsurance Investment Management Ltd. (the “Catastrophe Fund Manager”) In January 2015, the Company and Hiscox agreed to terminate Hiscox’s 15% ownership in the Catastrophe Fund Manager effective December 31, 2015. In January 2015, the shareholders agreement between Third Point Re, Hiscox, and the Catastrophe Fund Manager was also terminated by agreement of the parties. The Catastrophe Fund Manager agreed to repurchase for cancellation Hiscox’s common shares, representing 15% , of the Catastrophe Fund Manager. c) Investment in Joint Ventures As of December 31, 2016 and 2015 , the joint ventures created through the Investment Agreements ( Note 9 ) have been considered variable interest entities and have been consolidated in accordance with ASC 810 Consolidation (ASC 810). Since the Company was deemed to be the primary beneficiary, the Company has consolidated the joint ventures and has recorded TP GP’s minority interests as a non-controlling interests in the consolidated statements of shareholders’ equity. For the year ended December 31, 2016 , a contribution of $1.0 million ( 2015 - net distribution of $25.0 million and 2014 - distribution of $ 51.0 million) was made from TP GP and increased the amount of the non-controlling interest. As of December 31, 2016 and 2015 , the following entities were not consolidated as per ASC 810: Consolidation: a) TP Lux Holdco LP The Company is a limited partner in TP Lux Holdco LP (the “Cayman HoldCo”), which is an affiliate of the Investment Manager. The Cayman HoldCo was formed as a limited partnership under the laws of the Cayman Islands and invests and holds debt and equity interests in TP Lux HoldCo S.a.r.l, a Luxembourg private limited liability company (the “LuxCo”) established under the laws of the Grand-Duchy of Luxembourg, which is also an affiliate of the Investment Manager. LuxCo’s principal objective is to act as a collective investment vehicle to purchase Euro debt and equity investments. The Company invests in the Cayman HoldCo alongside other investment funds managed by the Investment Manager. As of December 31, 2016 , Third Point Re held a 13.8% ( December 31, 2015 - 10.8% ) interest in the Cayman Holdco. The Company accounts for its investment in the limited partnership under the variable interest model, in which the Company is not the primary beneficiary, at fair value in the consolidated balance sheets. The Company has elected the fair value option for this investment and records changes in fair value in the consolidated statements of income (loss) . As of December 31, 2016 , the estimated fair value of the investment in the limited partnership was $37.6 million ( December 31, 2015 - $2.4 million ). The Company made net contributions of $35.5 million to the Cayman Holdco during the year ended December 31, 2016 due to the purchase of underlying investments. The valuation policy with respect to this investment in a limited partnership is further described in Note 4 . The Company’s maximum exposure to loss as a result of its involvement with this investment is limited to the carrying value of the investment. b) Third Point Hellenic Recovery US Feeder Fund, L.P. Third Point Re is a limited partner in Third Point Hellenic Recovery US Feeder Fund, L.P. (“Hellenic Fund”), which is an affiliate of the Investment Manager. The Hellenic Fund was formed as a limited partnership under the laws of the Cayman Islands on April 12, 2013 and invests and holds debt and equity interests. Third Point Re has committed to invest $10.6 million ( December 31, 2015 - $11.4 million ) in the Hellenic Fund, of which $nil ( 2015 - $0.7 million ) was called and $0.2 million ( 2015 - $0.3 million ) was distributed during the year ended December 31, 2016 . As of December 31, 2016 , the estimated fair value of Third Point Re’s investment in the Hellenic Fund was $5.5 million (December 31, 2015 - $5.4 million ), representing a 2.8% interest (December 31, 2015 , - 3.0% ). Third Point Re accounts for its investment in the limited partnership under the variable interest model, in which Third Point Re is not the primary beneficiary, at fair value in the consolidated balance sheets. The Company has elected the fair value option for this investment and records the change in the fair value in the consolidated statements of income (loss) . The valuation policy with respect to this investment in a limited partnership is further described in Note 4 . Third Point Re’s maximum exposure to loss as a result of its involvement with this investment is limited to the carrying value of the investment. c) TP DR Holdings LLC The Company holds an equity and debt investment in TP DR Holdings LLC (“TP DR”), which is an affiliate of the Investment Manager. In December 2016, TP DR was formed as a limited liability company under the laws of the Cayman Islands to invest and own 100% equity interest in DCA Holdings Six Ltd. and its wholly owned subsidiary group. TP DR’s principal objective is to own, develop and manage properties in the Dominican Republic. The Company invests in TP DR alongside other investment funds managed by the Investment Manager and third-party investors. As of December 31, 2016 , Third Point Re held a 7.2% equity and 13.7% debt interest in TP DR. The Company has elected the fair value option for its investments in TP DR and records changes in fair value in the consolidated statements of income (loss) . The Company accounts for its equity investment in TP DR under the variable interest model, in which the Company is not the primary beneficiary, at fair value in the consolidated balance sheets. As of December 31, 2016 , the estimated fair value of the investment was $9.5 million , corresponding to $0.9 million of equity and $8.6 million of debt interest. During the year ended December 31, 2016, the Company contributed securities worth $7.2 million and cash of $1.9 million to TP DR. The Company has no further commitments or guarantees with respect to TP DR. The valuation policy with respect to this investment in investment funds is further described in Note 4. The Company’s maximum exposure to loss as a result of its involvement with this investment is limited to the carrying value of the investment.

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings per share	The following sets forth the computation of basic and diluted earnings (loss) per share for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 Weighted-average number of common shares outstanding: ($ in thousands, except share and per share amounts) Basic number of common shares outstanding 104,060,052 104,003,820 103,287,693 Dilutive effect of options 633,955 — 1,468,521 Dilutive effect of warrants 709,499 — 1,634,845 Dilutive effect of restricted shares with service and performance condition 160,278 — — Diluted number of common shares outstanding 105,563,784 104,003,820 106,391,059 Basic earnings (loss) per common share: Net income (loss) $ 27,635 $ (87,390 ) $ 50,395 Income allocated to participating shares (88 ) — (328 ) Net income (loss) available to common shareholders $ 27,547 $ (87,390 ) $ 50,067 Basic earnings (loss) per common share $ 0.26 $ (0.84 ) $ 0.48 Diluted earnings (loss) per common share Net income (loss) $ 27,635 $ (87,390 ) $ 50,395 Income allocated to participating shares (87 ) — (319 ) Net income (loss) available to common shareholders $ 27,548 $ (87,390 ) $ 50,076 Diluted earnings (loss) per common share $ 0.26 $ (0.84 ) $ 0.47 For the years ended December 31, 2016 and 2014 , anti-dilutive options of 4,369,171 and 4,501,991 , respectively, were excluded from the computation of diluted earnings per share. For the year ended December 31, 2015, anti-dilutive options and restricted shares with service and performance condition of 4,859,053 were excluded from the computation of diluted loss per share. In addition, as a result of the net loss for the year ended December 31, 2015, dilutive options and warrants totaling 10,669,545 were considered anti-dilutive and excluded from the computation of diluted loss per common share. No allocation of the net loss has been made to participating shares in the calculation of diluted net loss per common share.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related party transactions	In addition to the transactions disclosed in Notes 4 , 9 and 17 to these consolidated financial statements, the following transaction is classified as a related party transaction, as the counterparties have either a direct or indirect shareholding in the Company or the Company has an investment in such counterparty. Third Point Loan L.L.C. (“Loan LLC”) and Third Point Ventures LLC (“Ventures LLC” and, together with Loan LLC, “Nominees”) serve as nominees of the Company and other affiliated investment management clients of the Investment Manager for certain investments. The Nominees have appointed the Investment Manager as its true and lawful agent and attorney. As of December 31, 2016 , Loan LLC held $124.1 million ( December 31, 2015 - $65.0 million ) and Ventures LLC held $22.6 million (December 31, 2015 - $ nil ) of the Company’s investments, which are included in investments in securities and derivative contracts in the consolidated balance sheets. The Company’s pro rata interest in the underlying investments registered in the name of the Nominees and the related income and expense are reflected in the consolidated balance sheets and the consolidated statements of income (loss) .

Financial instruments with off-

Financial instruments with off-balance sheet risk or concentrations of credit risk	12 Months Ended
	Dec. 31, 2016
Guarantees [Abstract]
Financial instruments with off-balance sheet risk or concentrations of credit risk	Off-balance sheet risk In the normal course of business, the Company trades various financial instruments and engages in various investment activities with off-balance sheet risk. These financial instruments include securities sold, not yet purchased, forwards, futures, options, swaptions, swaps and contracts for differences. Generally, these financial instruments represent future commitments to purchase or sell other financial instruments at specific terms at specified future dates. Each of these financial instruments contains varying degrees of off-balance sheet risk whereby changes in the fair values of the securities underlying the financial instruments or fluctuations in interest rates and index values may exceed the amounts recognized in the consolidated balance sheets. Securities sold, not yet purchased are recorded as liabilities in the consolidated balance sheets and have market risk to the extent that the Company, in satisfying its obligations, may be required to purchase securities at a higher value than that recorded in the consolidated balance sheets. The Company’s investments in securities and amounts due from brokers are partially restricted until the Company satisfies the obligation to deliver securities sold, not yet purchased. Forward and futures contracts are a commitment to purchase or sell financial instruments, currencies or commodities at a future date at a negotiated rate. Forward and futures contracts expose the Company to market risks to the extent that adverse changes occur to the underlying financial instruments such as currency rates or equity index fluctuations. Option contracts give the purchaser the right, but not the obligation, to purchase from or sell to the option writer financial instruments, commodities or currencies within a defined time period for a specified price. The premium received by the Company upon writing an option contract is recorded as a liability, marked to market on a daily basis and is included in securities sold, not yet purchased in the consolidated balance sheets. In writing an option, the Company bears the market risk of an unfavorable change in the financial instrument underlying the written option. Exercise of an option written by the Company could result in the Company selling or buying a financial instrument at a price different from the current fair value. In the normal course of trading activities in its investment portfolio, the Company trades and holds certain derivative contracts, such as written options, which constitute guarantees. The maximum payout for written put options is limited to the number of contracts written and the related strike prices and the maximum payout for written call options is dependent upon the market price of the underlying security at the date of a payout event. As of December 31, 2016 , the investment portfolio had a maximum payout amount of approximately $87.5 million (December 31, 2015 - $42.2 million ) relating to written put option contracts with expiration ranging from one month to six months from the balance sheet date. The maximum payout amount could be offset by the subsequent sale, if any, of assets obtained via the settlement of a payout event. The fair value of these written put options as of December 31, 2016 was $1.3 million (December 31, 2015 - $2.6 million ) and is included in securities sold, not yet purchased in the consolidated balance sheets. Swaption contracts give the Company the right, but not the obligation, to enter into a specified interest-rate swap within a specified period of time. The Company’s market and counterparty credit risk is limited to the premium paid to enter into the swaption contract and net unrealized gains. Total return swaps, contracts for differences, index swaps, and interest rate swaps that involve the exchange of cash flows between the Company and counterparties are based on the change in the fair value of a particular equity, index, or interest rate on a specified notional holding. The use of these contracts exposes the Company to market risks equivalent to actually holding securities of the notional value but typically involve little capital commitment relative to the exposure achieved. The gains or losses of the Company may therefore be magnified on the capital commitment. Credit derivatives Credit default swaps protect the buyer against the loss of principal on one or more underlying bonds, loans, or mortgages in the event the issuer suffers a credit event. Typical credit events include failure to pay or restructuring of obligations, bankruptcy, dissolution or insolvency of the underlying issuer. The buyer of the protection pays an initial and/or a periodic premium to the seller and receives protection for the period of the contract. If there is not a credit event, as defined in the contract, the buyer receives no payments from the seller. If there is a credit event, the buyer receives a payment from the seller of protection as calculated by the contract between the two parties. The Company may also enter into index and/or basket credit default swaps where the credit derivative may reference a basket of single-name credit default swaps or a broad-based index. Generally, in the event of a default on one of the underlying names, the buyer will receive a pro-rata portion of the total notional amount of the credit default index or basket contract from the seller. When the Company purchases single-name, index and basket credit default swaps, the Company is exposed to counterparty nonperformance. Upon selling credit default swap protection, the Company may expose itself to the risk of loss from related credit events specified in the contract. Credit spreads of the underlying positions together with the period of expiration is indicative of the likelihood of a credit event under the credit default swap contract and the Company’s risk of loss. Higher credit spreads and shorter expiration dates are indicative of a higher likelihood of a credit event resulting in the Company’s payment to the buyer of protection. Lower credit spreads and longer expiration dates would indicate the opposite and lowers the likelihood the Company needs to pay the buyer of protection. As of December 31, 2016 , there was no cash collateral received specifically related to written credit default swaps as collateral is based on the net exposure associated with all derivative instruments subject to applicable netting agreements with counterparties and may not be specific to any individual derivative contract. The following table sets forth certain information related to the Company’s written credit derivatives as of December 31, 2016 and 2015 : December 31, 2016 Maximum Payout/ Notional Amount (by period of expiration) Fair Value of Written Credit Derivatives (2) Credit Spreads on 0-5 years 5 years or Total Written Asset Liability Net Asset/(Liability) ($ in thousands) Single name (0 - 250) $ — $ 3,943 $ 3,943 $ — $ 1,952 $ (1,952 ) $ — $ 3,943 $ 3,943 $ — $ 1,952 $ (1,952 ) December 31, 2015 Maximum Payout/ Notional Amount (by period of expiration) Fair Value of Written Credit Derivatives (2) Credit Spreads on 0-5 years 5 years or Total Written Asset Liability Net Asset/(Liability) ($ in thousands) Single name (0 - 250) $ — $ 2,878 $ 2,878 $ — $ 1,480 $ (1,480 ) Single name (251-500) 3,558 — 3,558 — 574 (574 ) $ 3,558 $ 2,878 $ 6,436 $ — $ 2,054 $ (2,054 ) (1) As of December 31, 2016 and 2015 , the Company did not hold any offsetting buy protection credit derivatives with the same underlying reference obligation. (2) Fair value amounts of derivative contracts are shown on a gross basis prior to cash collateral or counterparty netting. Concentrations of credit risk Investments In addition to off-balance sheet risks related to specific financial instruments, the Company may be subject to concentrations of credit risk with certain counterparties. Substantially all securities transactions and individual counterparty concentrations are with major securities firms, such as prime brokers or their affiliates. However, the Company reduces its credit risk with counterparties by entering into master netting agreements. Therefore, assets represent the Company’s greater unrealized gains less unrealized losses for derivative contracts in which the Company has master netting agreements. Similarly, liabilities represent the Company’s greater unrealized losses less unrealized gains for derivative contracts in which the Joint Ventures have master netting agreements. Furthermore, the Company obtains collateral from counterparties to reduce its exposure to counterparty credit risk. The Company’s maximum exposure to credit risk associated with counterparty nonperformance on derivative contracts is limited to the net unrealized gains by counterparties inherent in such contracts which are recognized in the consolidated balance sheets. As of December 31, 2016 , the Company’s maximum counterparty credit risk exposure was $28.1 million ( December 31, 2015 - $24.8 million ). Underwriting The Company is exposed to credit risk in several reinsurance contracts with companies that write credit risk insurance, which primarily consists of mortgage insurance credit risk. Loss experience in these lines of business is cyclical and is affected by the state of the general economic environment. The Company provides its clients in these lines of business with reinsurance protection against credit deterioration, defaults or other types of financial non-performance. The Company mitigates the risks associated with these credit-sensitive lines of business through the use of risk management techniques such as risk diversification and monitoring of risk aggregations. The Company has exposure to credit risk as it relates to its business written through brokers, if any of the Company’s brokers are unable to fulfill their contractual obligations with respect to payments to the Company. In addition, in some jurisdictions, if the broker fails to make payments to the insured under the Company’s policy, the Company may remain liable to the insured for the deficiency. The Company’s exposure to such credit risk is somewhat mitigated in certain jurisdictions by contractual terms. The Company has exposure to credit risk related to balances receivable under our reinsurance contracts, including premiums receivable, and the possibility that counterparties may default on their obligations to the Company. The risk of counterparty default is partially mitigated by the fact that any amount owed from a reinsurance counterparty would be netted against any losses the Company would pay in the future. The Company monitors the collectability of these balances on a regular basis.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Operating leases The Company leases offices space in Bermuda and in New Jersey, U.S.A. The leases have been accounted for as operating leases. Total rent expense for the year ended December 31, 2016 was $0.8 million ( 2015 - $0.7 million and 2014 - $0.5 million ). Future minimum rental commitments as of December 31, 2016 under these leases are expected to be as follows: ($ in thousands) 2017 $ 864 2018 881 2019 898 2020 860 2021 42 Thereafter — $ 3,545 Agreements Third Point LLC In June 2016, Third Point Reinsurance Ltd., Third Point Re, TPRUSA and Third Point Re USA entered into amended and restated Joint Venture and Investment Management Agreements with Third Point LLC and TP GP for an additional five year term, effective on December 22, 2016. These agreements have similar terms to the expired agreements, however, the management fee was reduced from 2% to 1.5% . NetJets In September 2016, the Company traded in its existing aircraft and acquired from NetJets Sales Inc. (“NetJets”) an undivided 31.25% interest in a new aircraft for a five year period. The agreement with NetJets provides for monthly management fees, occupied hourly fees and other fees. Future minimum management fee commitments as of December 31, 2016 under the existing agreement is expected to be as follows: ($ in thousands) 2017 $ 709 2018 736 2019 763 2020 792 2021 548 $ 3,548 Employment agreements As of December 31, 2016 , the Company has entered into employment agreements with certain of its executive officers. Such employment arrangements provide for compensation in the form of base salary, annual bonus, share-based awards, participation in the Company’s employee benefit programs and the reimbursements of expenses. Investments Loan and other participation interests purchased by the Company, such as bank debt, may include revolving credit arrangements or other financing commitments obligating the Company to advance additional amounts on demand. As of December 31, 2016 , the Company had one unfunded capital commitment of $3.2 million related to its investment in the Hellenic Fund (see Note 17 for additional information). In the normal course of business, the Company, as part of its investment strategy, enters into contracts that contain a variety of indemnifications and warranties. The Company’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Company that have not yet occurred. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote. Thus, no amounts have been accrued related to such indemnifications. The Company also indemnifies TP GP, Third Point LLC and its employees from and against any loss or expense, including, without limitation any judgment, settlement, legal fees and other costs. Any expenses related to this indemnification are reflected in net investment income (loss) in the consolidated statements of income (loss) . Financing In February 2015, TPRUSA issued $115.0 million of Notes due February 13, 2025. The Notes bear interest at 7.0% and interest is payable semi-annually on February 13 and August 13 of each year. The Notes are fully and unconditionally guaranteed by Third Point Reinsurance Ltd., and, in certain circumstances specified in the indenture governing the Notes, certain existing or future subsidiaries of the Company may be required to guarantee the Notes. Litigation From time to time in the normal course of business, the Company may be involved in formal and informal dispute resolution procedures, which may include arbitration or litigation, the outcomes of which determine the rights and obligations under the Company’s reinsurance contracts and other contractual agreements. In some disputes, the Company may seek to enforce its rights under an agreement or to collect funds owing to it. In other matters, the Company may resist attempts by others to collect funds or enforce alleged rights. While the final outcome of legal disputes that may arise cannot be predicted with certainty, the Company is not currently involved in any material formal or informal dispute resolution procedures.

Segment reporting

Segment reporting	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment reporting	The determination of the Company’s business segments is based on the manner in which management monitors the performance of its operations. The Company reports one operating segment, Property and Casualty Reinsurance. The Company has also identified a corporate function that includes the Company’s investment income on capital, certain general and administrative expenses related to corporate activities, interest expense, foreign exchange gains (losses) and income tax (expense) benefit. As of December 31, 2015, all investments in the Catastrophe Fund had been redeemed. In February 2016, the Company completed the dissolution of the Catastrophe Fund and Catastrophe Reinsurer. As a result, there is no further activity in the Catastrophe Risk Management segment. The following is a summary of the Company’s operating segment results for the years ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, 2016 Property and Casualty Reinsurance Catastrophe Risk Management Corporate Total Revenues ($ in thousands) Gross premiums written $ 617,374 $ — $ — $ 617,374 Gross premiums ceded (2,325 ) — — (2,325 ) Net premiums written 615,049 — — 615,049 Change in net unearned premium reserves (24,859 ) — — (24,859 ) Net premiums earned 590,190 — — 590,190 Expenses Loss and loss adjustment expenses incurred, net 395,932 — — 395,932 Acquisition costs, net 222,150 — — 222,150 General and administrative expenses 22,160 — 17,207 39,367 Total expenses 640,242 — 17,207 657,449 Net underwriting loss (50,052 ) n/a n/a n/a Net investment inco me 16,931 — 81,894 98,825 Other expenses (8,387 ) — — (8,387 ) Interest expense — — (8,231 ) (8,231 ) Foreign exchange gains — — 19,521 19,521 Income tax expense — — (5,593 ) (5,593 ) Segment income (loss) including non-controlling interests (41,508 ) — 70,384 28,876 Segment income attributable to non-controlling interes ts — — (1,241 ) (1,241 ) Segment income (loss) $ (41,508 ) $ — $ 69,143 $ 27,635 Property and Casualty Reinsurance - Underwriting Ratios (1): Loss ratio 67.1 % Acquisition cost ratio 37.6 % Composite ratio 104.7 % General and administrative expense ratio 3.8 % Combined ratio 108.5 % (1) Underwriting ratios are calculated by dividing the related expense by net premiums earned. Year Ended December 31, 2015 Property and Casualty Reinsurance Catastrophe Risk Management Corporate Total Revenues ($ in thousands) Gross premiums written $ 702,458 $ (44 ) $ — $ 702,414 Gross premiums ceded (1,876 ) — — (1,876 ) Net premiums written 700,582 (44 ) — 700,538 Change in net unearned premium reserves (97,766 ) 52 — (97,714 ) Net premiums earned 602,816 8 — 602,824 Expenses Loss and loss adjustment expenses incurred, net 415,041 150 — 415,191 Acquisition costs, net 191,217 (1 ) — 191,216 General and administrative expenses 24,815 447 20,771 46,033 Total expenses 631,073 596 20,771 652,440 Net underwriting loss (28,257 ) n/a n/a n/a Net investment income (loss) (10,810 ) 69 (17,333 ) (28,074 ) Other expenses (8,614 ) — — (8,614 ) Interest expense — — (7,236 ) (7,236 ) Foreign exchange gains — — 3,196 3,196 Income tax benefit — — 2,905 2,905 Segment loss including non-controlling interests (47,681 ) (519 ) (39,239 ) (87,439 ) Segment (income) loss attributable to non-controlling interests — 102 (53 ) 49 Segment loss $ (47,681 ) $ (417 ) $ (39,292 ) $ (87,390 ) Property and Casualty Reinsurance - Underwriting Ratios (1): Loss ratio 68.9 % Acquisition cost ratio 31.7 % Composite ratio 100.6 % General and administrative expense ratio 4.1 % Combined ratio 104.7 % (1) Underwriting ratios are calculated by dividing the related expense by net premiums earned. Year Ended December 31, 2014 Property and Casualty Reinsurance Catastrophe Risk Management Corporate Total Revenues ($ in thousands) Gross premiums written $ 601,305 $ 11,995 $ — $ 613,300 Gross premiums ceded (150 ) — — (150 ) Net premiums written 601,155 11,995 — 613,150 Change in net unearned premium reserves (168,858 ) 240 — (168,618 ) Net premiums earned 432,297 12,235 — 444,532 Expenses Loss and loss adjustment expenses incurred, net 283,180 (33 ) — 283,147 Acquisition costs, net 136,154 1,052 — 137,206 General and administrative expenses 22,515 3,113 14,380 40,008 Total expenses 441,849 4,132 14,380 460,361 Net underwriting loss (9,552 ) n/a n/a n/a Net investment income 11,305 1,227 73,050 85,582 Other expenses (7,395 ) — — (7,395 ) Income tax expense — — (5,648 ) (5,648 ) Segment income (loss) including non-controlling in terests (5,642 ) 9,330 53,022 56,710 Segment income attributable to non-controlling interests — (4,725 ) (1,590 ) (6,315 ) Segment income (loss) $ (5,642 ) $ 4,605 $ 51,432 $ 50,395 Property and Casualty Reinsurance - Underwriting Ratios (1): Loss ratio 65.5 % Acquisition cost ratio 31.5 % Composite ratio 97.0 % General and administrative expense ratio 5.2 % Combined ratio 102.2 % (1) Underwriting ratios are calculated by dividing the related expense by net premiums earned. The following table lists the number of contracts that individually contributed more than 10% of total gross premiums written for the years ended December 31, 2016 , 2015 and 2014 as a percentage of total gross premiums written in the relevant year: 2016 2015 2014 Largest contract 16.1 % 16.1 % 20.4 % Second largest contract n/a 13.0 % 17.1 % Total for contracts contributing greater than 10% each 16.1 % 29.1 % 37.5 % Total for contracts contributing less than 10% each 83.9 % 70.9 % 62.5 % 100.0 % 100.0 % 100.0 % The following table lists counterparties with whom the Company has reinsurance balances receivable representing more than 10% of the Company’s total reinsurance balances receivable as of December 31, 2016 and 2015 : December 31, 2016 December 31, 2015 ($ in thousands) Counterparty 1 $ 82,162 21.5 % $ 87,044 29.6 % Other counterparties representing less than 10% each 299,789 78.5 % 207,269 70.4 % Reinsurance balances receivable $ 381,951 100.0 % $ 294,313 100.0 % The following table provides a breakdown of the Company’s gross premiums written by line of business for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Property $ 98,334 15.9 % $ 114,215 16.2 % $ 106,834 17.4 % Casualty 213,050 34.5 % 327,064 46.6 % 266,763 43.5 % Specialty 305,990 49.6 % 261,179 37.2 % 227,708 37.1 % Total property and casualty reinsurance 617,374 100.0 % 702,458 100.0 % 601,305 98.0 % Catastrophe risk management — — % (44 ) — % 11,995 2.0 % $ 617,374 100.0 % $ 702,414 100.0 % $ 613,300 100.0 % The following table provides a breakdown of the Company’s gross premiums written by prospective and retroactive reinsurance contracts for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Prospective $ 617,374 100.0 % $ 594,350 84.6 % $ 530,169 86.4 % Retroactive (1) — — % 108,064 15.4 % 83,131 13.6 % $ 617,374 100.0 % $ 702,414 100.0 % $ 613,300 100.0 % (1) Includes all retroactive exposure in reinsurance contracts. The Company records the gross premium written and earned at the inception of the contract for retroactive exposures in reinsurance contracts. Substantially all of the Company’s business is sourced through reinsurance brokers. The following table sets forth our premiums written by source that individually contributed more than 10% of total gross premiums written for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Largest broker $ 240,172 38.9 % $ 198,209 28.2 % $ 199,563 32.5 % Second largest broker 185,638 30.1 % 163,832 23.3 % 110,063 17.9 % Third largest broker 97,148 15.7 % 91,554 13.0 % 80,535 13.1 % Fourth largest broker n/a n/a 73,499 10.5 % 61,777 10.1 % Other 94,416 15.3 % 175,320 25.0 % 161,362 26.4 % $ 617,374 100.0 % $ 702,414 100.0 % $ 613,300 100.0 % The following table provides a breakdown of the Company’s gross premiums written by domicile of the ceding companies for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) United States $ 332,849 53.9 % $ 283,626 40.4 % $ 339,061 55.3 % United Kingdom 187,625 30.4 % 290,710 41.4 % 176,522 28.8 % Bermuda 96,900 15.7 % 128,078 18.2 % 97,717 15.9 % $ 617,374 100.0 % $ 702,414 100.0 % $ 613,300 100.0 %

Statutory Requirements

Statutory Requirements	12 Months Ended
	Dec. 31, 2016
Statutory Requirements [Abstract]
Statutory Requirements	Under the Bermuda Insurance Act 1978, as amended, and related regulations, Third Point Re and Third Point Re USA are subject to capital requirements calculated using the Bermuda Solvency and Capital Requirement (“BSCR”) model, which is a standardized statutory risk-based capital model used to measure the risk associated with Third Point Re’s and Third Point Re USA’s assets, liabilities and premiums. Third Point Re’s and Third Point Re USA’s required statutory capital and surplus under the BSCR model is referred to as the enhanced capital requirement (“ECR”). Third Point Re and Third Point Re USA are required to calculate and submit the ECR to the Bermuda Monetary Authority (“BMA”), annually. Following receipt of the submission of Third Point Re’s and Third Point Re USA’s ECR the BMA has the authority to impose additional capital requirements (capital add-ons) if it deems necessary. If a company fails to maintain or meet its ECR, the BMA may take various degrees of regulatory action. In 2016, the BMA implemented the economic balance sheet (“EBS”) framework, which is now used as the basis to determine the Company’s ECR. Under the new framework, assets and liabilities are mainly assessed and included on the EBS at fair value, with the insurer’s U.S. GAAP balance sheet serving as a starting point. The model also requires insurers to estimate insurance technical provisions, which consist of the insurer’s insurance related balances valued based on best-estimate cash flows, adjusted to reflect the time value of money using a risk-free discount rate, with the addition of a risk margin to reflect the uncertainty in the underlying cash flows. As of December 31, 2016 and 2015 , Third Point Re and Third Point Re USA met their ECR. As of December 31, 2016 , the principal difference between statutory capital and surplus and shareholders’ equity presented in accordance with GAAP is that prepaid expenses is a non-admitted assets for statutory purposes. As of December 31, 2015 , the principal difference between statutory capital and surplus and shareholders’ equity presented in accordance with GAAP is deferred acquisition costs and prepaid expenses, which were non-admitted assets for statutory purposes. Third Point Re and Third Point Re USA are also required under their Class 4 licenses to maintain minimum liquidity ratios whereby the value of their relevant assets are not less than 75% of the amount of their relevant liabilities for general business. As of December 31, 2016 and 2015 , Third Point Re and Third Point Re USA met their minimum liquidity ratio requirements. The following is a summary of actual and required statutory capital and surplus of Third Point Re and Third Point Re USA as of December 31, 2016 and 2015 : December 31, 2016 December 31, 2015 ($ in thousands) Actual statutory capital and surplus Third Point Re $ 1,259,876 $ 1,044,340 Third Point Re USA 282,552 246,948 Required statutory capital and surplus Third Point Re 642,349 612,617 Third Point Re USA $ 89,557 $ 83,617 The following is a summary of the statutory net income (loss) for Third Point Re and Third Point Re USA for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Third Point Re $ 35,096 $ (68,188 ) $ 56,686 Third Point Re USA $ 2,701 $ (7,510 ) n/a Dividend restrictions Third Point Re Third Point Re may declare dividends subject to it continuing to meet its solvency and capital requirements, which includes continuing to hold statutory capital and surplus equal to or exceeding its ECR. In addition, Third Point Re is prohibited from declaring or paying in any fiscal year dividends of more than 25% of its prior year’s statutory capital and surplus unless Third Point Re files with the BMA a signed affidavit by at least two members of the Board of Directors attesting that a dividend would not cause Third Point Re to fail to meet its capital requirements. As of December 31, 2016 , Third Point Re could pay dividends in 2017 of approximately $315.0 million (December 31, 2015 - $261.1 million ) without providing an affidavit to the BMA. Third Point Re USA Third Point Re USA may declare dividends subject to it continuing to meet its solvency and capital requirements, which includes continuing to hold statutory capital and surplus equal to or exceeding its ECR. Third Point Re USA is prohibited from declaring or paying in any fiscal year dividends of more than 25% of its prior year’s statutory capital and surplus, unless Third Point Re USA files with the BMA a signed affidavit by at least two members of the Board of Directors attesting that a dividend would not cause Third Point Re USA to fail to meet its capital requirements. Third Point Re USA is also restricted by the amount of shareholder’s equity that is available for the payment of dividends and must maintain a minimum shareholder’s equity of $250.0 million as per the Net Worth Maintenance Agreement. As of December 31, 2016 , Third Point Re USA could pay dividends in 2017 of approximately $19.6 million

Supplemental guarantor informat

Supplemental guarantor information	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Supplemental guarantor information	Third Point Reinsurance Ltd. fully and unconditionally guarantees the $115.0 million of debt obligations issued by TPRUSA, a wholly owned subsidiary. The following information sets forth the consolidating balance sheets as of December 31, 2016 and 2015 and the consolidating statements of income (loss) and cash flows for the years ended December 31, 2016 , 2015 and 2014 for Third Point Reinsurance Ltd., TPRUSA and the non-guarantor subsidiaries of Third Point Reinsurance Ltd. Investments in subsidiaries are accounted for on the equity method; accordingly, entries necessary to consolidate the parent guarantor, TPRUSA and all other subsidiaries are reflected in the eliminations column. CONSOLIDATING BALANCE SHEET As of December 31, 2016 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Assets Equity securities $ — $ — $ 1,506,854 $ — $ 1,506,854 Debt securities — — 1,057,957 — 1,057,957 Other investments — — 82,701 — 82,701 Total investments in securities — — 2,647,512 — 2,647,512 Cash and cash equivalents 1,629 79 8,243 — 9,951 Restricted cash and cash equivalents — — 298,940 — 298,940 Investment in subsidiaries 1,413,078 269,622 165,324 (1,848,024 ) — Due from brokers — — 284,591 — 284,591 Derivative assets, at fair value — — 27,432 — 27,432 Interest and dividends receivable — — 6,505 — 6,505 Reinsurance balances receivable — — 381,951 — 381,951 Deferred acquisition costs, net — — 221,618 — 221,618 Amounts due from (to) affiliates (142 ) (8,394 ) 8,536 — — Other assets 637 5,507 11,000 — 17,144 Total assets $ 1,415,202 $ 266,814 $ 4,061,652 $ (1,848,024 ) $ 3,895,644 Liabilities and shareholders’ equity Liabilities Accounts payable and accrued expenses $ 1,151 $ 40 $ 9,130 $ — $ 10,321 Reinsurance balances payable — — 43,171 — 43,171 Deposit liabilities — — 104,905 — 104,905 Unearned premium reserves — — 557,076 — 557,076 Loss and loss adjustment expense reserves — — 605,129 — 605,129 Securities sold, not yet purchased, at fair value — — 92,668 — 92,668 Due to brokers — — 899,601 — 899,601 Derivative liabilities, at fair value — — 16,050 — 16,050 Interest and dividends payable — 3,057 386 — 3,443 Senior notes payable, net of deferred costs — 113,555 — — 113,555 Total liabilities 1,151 116,652 2,328,116 — 2,445,919 Shareholders' equity Common shares 10,650 — 1,250 (1,250 ) 10,650 Treasury shares (7,389 ) — — — (7,389 ) Additional paid-in capital 1,094,568 165,456 1,528,827 (1,694,283 ) 1,094,568 Retained earnings (deficit) 316,222 (15,294 ) 167,785 (152,491 ) 316,222 Shareholders’ equity attributable to shareholders 1,414,051 150,162 1,697,862 (1,848,024 ) 1,414,051 Non-controlling interests — — 35,674 — 35,674 Total shareholders’ equity 1,414,051 150,162 1,733,536 (1,848,024 ) 1,449,725 Total liabilities and shareholders’ equity $ 1,415,202 $ 266,814 $ 4,061,652 $ (1,848,024 ) $ 3,895,644 CONSOLIDATING BALANCE SHEET As of December 31, 2015 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Assets Equity securities $ — $ — $ 1,231,077 $ — $ 1,231,077 Debt securities — — 1,034,247 — 1,034,247 Other investments — — 51,920 — 51,920 Total investments in securities — — 2,317,244 — 2,317,244 Cash and cash equivalents 308 5 20,094 — 20,407 Restricted cash and cash equivalents — — 330,915 — 330,915 Investment in subsidiaries 1,382,336 261,083 159,593 (1,803,012 ) — Due from brokers — — 326,971 — 326,971 Derivative assets, at fair value — — 35,337 — 35,337 Interest and dividends receivable — — 10,687 — 10,687 Reinsurance balances receivable — — 294,313 — 294,313 Deferred acquisition costs, net — — 197,093 — 197,093 Amounts due from (to) affiliates (346 ) (230 ) 576 — — Other assets 564 2,613 8,964 — 12,141 Total assets $ 1,382,862 $ 263,471 $ 3,701,787 $ (1,803,012 ) $ 3,545,108 Liabilities and shareholders’ equity Liabilities Accounts payable and accrued expenses $ 3,136 $ 40 $ 8,790 $ — $ 11,966 Reinsurance balances payable — — 24,119 — 24,119 Deposit liabilities — — 83,955 — 83,955 Unearned premium reserves — — 531,710 — 531,710 Loss and loss adjustment expense reserves — — 466,047 — 466,047 Securities sold, not yet purchased, at fair value — — 314,353 — 314,353 Securities sold under an agreement to repurchase — — 8,944 — 8,944 Due to brokers — — 574,962 — 574,962 Derivative liabilities, at fair value — — 15,392 — 15,392 Interest and dividends payable — 3,055 1,345 — 4,400 Senior notes payable, net of deferred costs — 113,377 — — 113,377 Total liabilities 3,136 116,472 2,029,617 — 2,149,225 Shareholders’ equity Common shares 10,548 — 1,250 (1,250 ) 10,548 Additional paid-in capital 1,080,591 159,618 1,509,594 (1,669,212 ) 1,080,591 Retained earnings (deficit) 288,587 (12,619 ) 145,169 (132,550 ) 288,587 Shareholders’ equity attributable to shareholders 1,379,726 146,999 1,656,013 (1,803,012 ) 1,379,726 Non-controlling interests — — 16,157 — 16,157 Total shareholders’ equity 1,379,726 146,999 1,672,170 (1,803,012 ) 1,395,883 Total liabilities and shareholders’ equity $ 1,382,862 $ 263,471 $ 3,701,787 $ (1,803,012 ) $ 3,545,108 CONSOLIDATING STATEMENT OF INCOME (LOSS) Year Ended December 31, 2016 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 617,374 $ — $ 617,374 Gross premiums ceded — — (2,325 ) — (2,325 ) Net premiums written — — 615,049 — 615,049 Change in net unearned premium reserves — — (24,859 ) — (24,859 ) Net premiums earned — — 590,190 — 590,190 Net investment income — — 98,825 — 98,825 Equity in earnings (losses) of s ubsidiaries 32,347 2,701 (107 ) (34,941 ) — Total revenues 32,347 2,701 688,908 (34,941 ) 689,015 Expenses Loss and loss adjustment expenses incurred, net — — 395,932 — 395,932 Acquisition costs, net — — 222,150 — 222,150 General and administrative expenses 4,712 40 34,615 — 39,367 Other expenses — — 8,387 — 8,387 Interest expense — 8,231 — — 8,231 Foreign exchange gains — — (19,521 ) — (19,521 ) Total expenses 4,712 8,271 641,563 — 654,546 Income (loss) before income tax (expense) benefit 27,635 (5,570 ) 47,345 (34,941 ) 34,469 Income tax (expense) benefit — 2,895 (8,488 ) — (5,593 ) Income (loss) including non-controlling interests 27,635 (2,675 ) 38,857 (34,941 ) 28,876 Income attributable to non-controlling interests — — (1,241 ) — (1,241 ) Net income (loss) $ 27,635 $ (2,675 ) $ 37,616 $ (34,941 ) $ 27,635 CONSOLIDATING STATEMENT OF LOSS Year Ended December 31, 2015 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 702,414 $ — $ 702,414 Gross premiums ceded — — (1,876 ) — (1,876 ) Net premiums written — — 700,538 — 700,538 Change in net unearned premium reserves — — (97,714 ) — (97,714 ) Net premiums earned — — 602,824 — 602,824 Net investment loss — — (28,074 ) — (28,074 ) Equity in earnings of subsidiaries (79,053 ) (7,510 ) (25 ) 86,588 — Total revenues (79,053 ) (7,510 ) 574,725 86,588 574,750 Expenses Loss and loss adjustment expenses incurred, net — — 415,191 — 415,191 Acquisition costs, net — — 191,216 — 191,216 General and administrative expenses 8,337 231 37,465 — 46,033 Other expenses — — 8,614 — 8,614 Interest expense — 7,236 — — 7,236 Foreign exchange gains — — (3,196 ) — (3,196 ) Total expenses 8,337 7,467 649,290 — 665,094 Loss before income tax benefit (87,390 ) (14,977 ) (74,565 ) 86,588 (90,344 ) Income tax benefit — 2,613 292 — 2,905 Loss including non-controlling interests (87,390 ) (12,364 ) (74,273 ) 86,588 (87,439 ) Loss attributable to non-controlling interests — — 49 — 49 Net loss $ (87,390 ) $ (12,364 ) $ (74,224 ) $ 86,588 $ (87,390 ) CONSOLIDATING STATEMENT OF INCOME (LOSS) Year Ended December 31, 2014 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 613,300 $ — $ 613,300 Gross premiums ceded — — (150 ) — (150 ) Net premiums written — — 613,150 — 613,150 Change in net unearned premium reserves — — (168,618 ) — (168,618 ) Net premiums earned — — 444,532 — 444,532 Net investment income — — 85,582 — 85,582 Equity in earnings of subsidiaries 56,238 — — (56,238 ) — Total revenues 56,238 — 530,114 (56,238 ) 530,114 Expenses Loss and loss adjustment expenses incurred, net — — 283,147 — 283,147 Acquisition costs, net — — 137,206 — 137,206 General and administrative expenses 5,843 255 33,910 — 40,008 Other expenses — — 7,395 — 7,395 Total expenses 5,843 255 461,658 — 467,756 Income (loss) before income tax expense 50,395 (255 ) 68,456 (56,238 ) 62,358 Income tax expense — — (5,648 ) — (5,648 ) Income (loss) including non-controlling interests 50,395 (255 ) 62,808 (56,238 ) 56,710 Income attributable to non-controlling interests — — (6,315 ) — (6,315 ) Net income (loss) $ 50,395 $ (255 ) $ 56,493 $ (56,238 ) $ 50,395 CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2016 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Income (loss) including non-controlling interests $ 27,635 $ (2,675 ) $ 38,857 $ (34,941 ) $ 28,876 Adjustments to reconcile income (loss) including non-controlling interests to net cash provided by (used in) operating activities : Equity in (earnings) losses of subsidiaries (32,347 ) (2,701 ) 107 34,941 — Share compensation expense 543 8,395 — 8,938 Net interest income on deposit liabilities (164 ) — (164 ) Net unrealized gain on investments and derivatives — — (72,083 ) — (72,083 ) Net realized gain on investments and derivatives — — (33,179 ) — (33,179 ) Net foreign exchange gains — — (19,521 ) — (19,521 ) Amortization of premium and accretion of discount, net — 178 4,940 — 5,118 Changes in assets and liabilities: Reinsurance balances receivable — — (86,612 ) — (86,612 ) Deferred acquisition costs, net — — (24,525 ) — (24,525 ) Other assets (73 ) (2,894 ) (2,036 ) — (5,003 ) Interest and dividends receivable, net — 2 3,223 — 3,225 Unearned premium reserves — — 25,366 — 25,366 Loss and loss adjustment expense reserves — — 156,644 — 156,644 Accounts payable and accrued expenses (1,985 ) — (110 ) — (2,095 ) Reinsurance balances payable — — 19,786 — 19,786 Amounts due from (to) affiliates (204 ) 8,164 (7,960 ) — — Net cash provided by (used in) operating activities (6,431 ) 74 11,128 — 4,771 Investing activities Purchases of investments — — (3,729,944 ) — (3,729,944 ) Proceeds from sales of investments — — 3,504,598 — 3,504,598 Purchases of investments to cover short sales — — (1,264,404 ) — (1,264,404 ) Proceeds from short sales of investments — — 1,046,422 — 1,046,422 Change in due to/from brokers, net — — 367,019 — 367,019 Increase in securities sold under an agreement to repurchase — — (8,944 ) — (8,944 ) Change in restricted cash and cash equivalents — — 31,975 — 31,975 Contributed capital to subsidiaries (5,000 ) 5,000 — — — Contributed capital from parent and/or subsidiaries — (5,000 ) 5,000 — — Net cash provided by (used in) investing activities (5,000 ) — (48,278 ) — (53,278 ) Financing activities Proceeds from issuance of common shares, net of costs 5,141 — — — 5,141 Purchases of common shares under share repurchase program (7,389 ) — — — (7,389 ) Increase in deposit liabilities, net — — 22,023 — 22,023 Non-controlling interest in investment affiliate, net — — 18,276 — 18,276 Dividend received by (paid to) parent 15,000 — (15,000 ) — — Net cash provided by financing activities 12,752 — 25,299 — 38,051 Net increase (decrease) in cash and cash equivalents 1,321 74 (11,851 ) — (10,456 ) Cash and cash equivalents at beginning of year 308 5 20,094 — 20,407 Cash and cash equivalents at end of year $ 1,629 $ 79 $ 8,243 $ — $ 9,951 CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2015 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Loss including non-controlling interests $ (87,390 ) $ (12,364 ) $ (74,273 ) $ 86,588 $ (87,439 ) Adjustments to reconcile loss including non-controlling interests to net cash provided by (used in) operating activities Equity in earnings of subsidiaries 79,053 7,510 25 (86,588 ) — Share compensation expense 542 — 10,329 — 10,871 Net interest expense on deposit liabilities — — 6,471 — 6,471 Net unrealized loss on investments and derivatives — — 32,354 — 32,354 Net realized gain on investments and derivatives — — (16,655 ) — (16,655 ) Foreign exchange gains included in net loss — — (3,196 ) — (3,196 ) Amortization of premium and accretion of discount, net — 157 167 — 324 Changes in assets and liabilities: Reinsurance balances receivable — — 8,768 — 8,768 Deferred acquisition costs, net — — (41,192 ) — (41,192 ) Other assets 36 (1,947 ) (5,904 ) — (7,815 ) Interest and dividends receivable, net — 3,055 (7,437 ) — (4,382 ) Unearned premium reserves — — 97,901 — 97,901 Loss and loss adjustment expense reserves — — 192,433 — 192,433 Accounts payable and accrued expenses 1,910 (478 ) 449 — 1,881 Reinsurance balances payable — — (2,548 ) — (2,548 ) Amounts due from (to) affiliates 1,685 (173 ) (1,512 ) — — Net cash provided by (used in) operating activities (4,164 ) (4,240 ) 196,180 — 187,776 Investing activities Purchases of investments — — (3,360,626 ) — (3,360,626 ) Proceeds from sales of investments — — 2,829,523 — 2,829,523 Purchases of investments to cover short sales — — (543,936 ) — (543,936 ) Proceeds from short sales of investments — — 792,344 — 792,344 Change in due to/from brokers, net — — (6,377 ) — (6,377 ) Decrease in securities purchased under an agreement to sell — — 29,852 — 29,852 Increase in securities sold under an agreement to repurchase — — 8,944 — 8,944 Change in restricted cash and cash equivalents — — 86,392 — 86,392 Contributed capital (to) from subsidiaries (158,000 ) (266,975 ) (25 ) 425,000 — Contributed capital from parent — 158,000 267,000 (425,000 ) — Net cash provided by (used in) investing activities (158,000 ) (108,975 ) 103,091 — (163,884 ) Financing activities Proceeds from issuance of common shares, net of costs 4,332 — — — 4,332 Proceeds from issuance of senior notes payable — 113,220 — — 113,220 Increase in deposit liabilities — — (65,842 ) — (65,842 ) Non-controlling interest in investment affiliate, net — — (24,137 ) — (24,137 ) Non-controlling interest in Catastrophe Fund — — (60,032 ) — (60,032 ) Non-controlling interest in Catastrophe Manager — — 240 — 240 Dividend received by (paid to) parent 158,000 — (158,000 ) — — Net cash provided by (used in) financing activities 162,332 113,220 (307,771 ) — (32,219 ) Net increase in cash and cash equivalents 168 5 (8,500 ) — (8,327 ) Cash and cash equivalents at beginning of year 140 — 28,594 — 28,734 Cash and cash equivalents at end of year $ 308 $ 5 $ 20,094 $ — $ 20,407 CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2014 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Income including non-controlling interests $ 50,395 $ (255 ) $ 62,808 $ (56,238 ) $ 56,710 Adjustments to reconcile income including non-controlling interests to net cash provided by (used in) operating activities Equity in earnings of subsidiaries (56,238 ) — — 56,238 — Share compensation expense 1,080 — 8,178 — 9,258 Interest expense on deposit liabilities — — 4,346 — 4,346 Net unrealized loss on investments and derivatives — — 85,057 — 85,057 Net realized gain on investments and derivatives — — (193,957 ) — (193,957 ) Amortization of premium and accretion of discount, net — — (1,044 ) — (1,044 ) Changes in assets and liabilities: Reinsurance balances receivable — — (111,886 ) — (111,886 ) Deferred acquisition costs, net — — (64,708 ) — (64,708 ) Other assets 120 (666 ) 8,895 — 8,349 Interest and dividends receivable, net — — (38 ) — (38 ) Unearned premium reserves — — 168,622 — 168,622 Loss and loss adjustment expense reserves — — 143,031 — 143,031 Accounts payable and accrued expenses 984 518 (873 ) — 629 Reinsurance balances payable — — 18,061 — 18,061 Amounts due from (to) affiliates (5,094 ) 403 4,691 — — Net cash (used in) provided by operating activities (8,753 ) — 131,183 — 122,430 Investing activities Purchases of investments — — (3,114,906 ) — (3,114,906 ) Proceeds from sales of investments — — 2,857,404 — 2,857,404 Purchases of investments to cover short sales — — (232,568 ) — (232,568 ) Proceeds from short sales of investments — — 278,569 — 278,569 Change in due to/from brokers, net — — 307,884 — 307,884 Increase in securities purchased under agreement to sell — — 8,294 — 8,294 Change in restricted cash and cash equivalents — — (223,730 ) — (223,730 ) Net cash used in investing activities — — (119,053 ) — (119,053 ) Financing activities Proceeds from issuance of common shares, net of costs 599 — — — 599 Increase in deposit liabilities — — 18,048 — 18,048 Non-controlling interest in investment affiliate, net — — (31,066 ) — (31,066 ) Non-controlling interest in Catastrophe Fund — — 6,151 — 6,151 Dividend received by (paid to) parent 8,000 — (8,000 ) — — Net cash provided by (used in) financing activities 8,599 — (14,867 ) — (6,268 ) Net decrease in cash and cash equivalents (154 ) — (2,737 ) — (2,891 ) Cash and cash equivalents at beginning of year 294 — 31,331 — 31,625 Cash and cash equivalents at end of year $ 140 $ — $ 28,594 $ — $ 28,734

Quarterly Financial Results

Quarterly Financial Results	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly financial results	Three months ended December 31, September 30, June 30, March 31, ($ in thousands, except per share and share amounts) Revenues Gross premiums written $ 80,779 $ 142,573 $ 196,866 $ 197,156 Gross premiums ceded 27 (927 ) (1,425 ) — Net premiums written 80,806 141,646 195,441 197,156 Change in net unearned premium reserves 111,277 (13,463 ) (62,319 ) (60,354 ) Net premiums earned 192,083 128,183 133,122 136,802 Net investment income (loss) (35,767 ) 88,356 86,346 (40,110 ) Total revenues 156,316 216,539 219,468 96,692 Expenses Loss and loss adjustment expenses incurred, net 122,110 85,015 104,131 84,676 Acquisition costs, net 76,854 45,127 48,482 51,687 General and administrative expenses 5,482 12,354 10,243 11,288 Other expenses 2,161 347 3,173 2,706 Interest expense 2,068 2,069 2,046 2,048 Foreign exchange gains (5,162 ) (3,905 ) (8,068 ) (2,386 ) Total expenses 203,513 141,007 160,007 150,019 Income (loss) before income tax (expense) benefit (47,197 ) 75,532 59,461 (53,327 ) Income tax (expense) benefit 272 (2,484 ) (5,310 ) 1,929 Income (loss) including non-controlling interests (46,925 ) 73,048 54,151 (51,398 ) (Income) loss attributable to non-controlling interests 232 (967 ) (775 ) 269 Net income (loss) $ (46,693 ) $ 72,081 $ 53,376 $ (51,129 ) Earnings (loss) per share Basic $ (0.45 ) $ 0.69 $ 0.51 $ (0.49 ) Diluted $ (0.45 ) $ 0.68 $ 0.51 $ (0.49 ) Weighted average number of ordinary shares used in the determination of earnings (loss) per share Basic 104,072,283 103,780,196 104,132,797 104,257,874 Diluted 104,072,283 105,795,313 105,233,921 104,257,874 Three months ended December 31, September 30, June 30, March 31, ($ in thousands, except per share and share amounts) Revenues Gross premiums written $ 99,155 $ 205,583 $ 184,342 $ 213,334 Gross premiums ceded (24 ) (375 ) (1,425 ) (52 ) Net premiums written 99,131 205,208 182,917 213,282 Change in net unearned premium reserves 35,235 3,597 (62,339 ) (74,207 ) Net premiums earned 134,366 208,805 120,578 139,075 Net investment income (loss) 61,553 (193,156 ) 38,611 64,918 Total revenues 195,919 15,649 159,189 203,993 Expenses Loss and loss adjustment expenses incurred, net 98,855 158,537 76,053 81,746 Acquisition costs, net 38,552 50,509 47,498 54,657 General and administrative expenses 10,236 9,822 14,267 11,708 Other expenses 2,928 670 2,315 2,701 Interest expense 2,074 2,074 2,052 1,036 Foreign exchange (gains) losses (2,396 ) (746 ) 139 (193 ) Total expenses 150,249 220,866 142,324 151,655 Income (loss) before income tax (expense) benefit 45,670 (205,217 ) 16,865 52,338 Income tax (expense) benefit (2,863 ) 7,781 (708 ) (1,305 ) Income (loss) including non-controlling interests 42,807 (197,436 ) 16,157 51,033 (Income) loss attributable to non-controlling interests (614 ) 1,721 (495 ) (563 ) Net income (loss) $ 42,193 $ (195,715 ) $ 15,662 $ 50,470 Earnings (loss) per share Basic $ 0.40 $ (1.88 ) $ 0.15 $ 0.48 Diluted $ 0.39 $ (1.88 ) $ 0.15 $ 0.47 Weighted average number of ordinary shares used in the determination of earnings (loss) per share Basic 104,217,321 104,117,448 103,927,761 103,753,065 Diluted 106,635,451 104,117,448 106,696,874 106,144,183

Schedule I - Summary of Investm

Schedule I - Summary of Investments - Other than Investments in Related Parties	12 Months Ended
	Dec. 31, 2016
Summary of Investments, Other than Investments in Related Parties [Abstract]
Schedule I - Summary of Investments - Other than Investments in Related Parties	Schedule I - Summary of Investments - Other than Investments in Related Parties (expressed in thousands of U.S. dollars) Cost Fair value Balance sheet value Assets Equity securities $ 1,341,915 $ 1,453,221 $ 1,453,221 Private common equity securities 4,445 4,799 4,799 Private preferred equity securities 39,506 48,834 48,834 Total equities 1,385,866 1,506,854 1,506,854 Asset-backed securities 275,784 254,852 254,852 Bank debt 52,622 56,896 56,896 Corporate bonds 169,257 218,280 218,280 U.S. Treasury securities 331,137 327,016 327,016 Sovereign debt 207,916 200,913 200,913 Total debt securities 1,036,716 1,057,957 1,057,957 Investments in limited partnerships 46,776 44,983 44,983 Options 1,542 1,024 1,024 Trade claims 3,090 9,022 9,022 Investment in Kiskadee Fund 25,000 27,672 27,672 Total other investments 76,408 82,701 82,701 Total investments $ 2,498,990 $ 2,647,512 $ 2,647,512

Schedule III - Supplementary In

Schedule III - Supplementary Insurance Information	12 Months Ended
	Dec. 31, 2016
Supplementary Insurance Information [Abstract]
Schedule III - Supplementary Insurance Information	Schedule III - Supplementary Insurance Information For the years ended December 31, 2016 , 2015 and 2014 (expressed in thousands of U.S. dollars) As of and for the year ended December 31, 2016 Deferred acquisition costs, net Loss and loss adjustment expense reserves Unearned premium Net premiums earned Net investment income (loss) Other Expenses Loss and loss adjustment expenses incurred, net Amortization of deferred acquisition costs, net Other operating expenses Net premiums written Property and Casualty Reinsurance $ 221,618 $ 605,129 $ 557,076 $ 590,190 $ 16,931 $ (8,387 ) $ 395,932 $ 222,150 $ 22,160 $ 615,049 Catastrophe Risk Management — — — — — — — — — — Corporate — — — — 81,894 — — — 17,207 — $ 221,618 $ 605,129 $ 557,076 $ 590,190 $ 98,825 $ (8,387 ) $ 395,932 $ 222,150 $ 39,367 $ 615,049 As of and for the year ended December 31, 2015 Deferred acquisition costs, net Loss and loss adjustment expense reserves Unearned premium Net premiums earned Net investment income Other Expenses Loss and loss adjustment expenses incurred, net Amortization of deferred acquisition costs, net Other operating expenses Net premiums written Property and Casualty Reinsurance $ 197,093 $ 466,047 $ 531,710 $ 602,816 $ (10,810 ) $ 8,614 $ 415,041 $ 191,217 $ 24,815 $ 700,582 Catastrophe Risk Management — — — 8 69 — 150 (1 ) 447 (44 ) Corporate — — — — (17,333 ) — — — 20,771 — $ 197,093 $ 466,047 $ 531,710 $ 602,824 $ (28,074 ) $ 8,614 $ 415,191 $ 191,216 $ 46,033 $ 700,538 As of and for the year ended December 31, 2014 Deferred acquisition costs, net Loss and loss adjustment expense reserves Unearned premium Net premiums earned Net investment income Other Expenses Loss and loss adjustment expenses incurred, net Amortization of deferred acquisition costs, net Other operating expenses Net premiums written Property and Casualty Reinsurance $ 155,891 $ 277,285 $ 433,757 $ 432,297 $ 11,305 $ 7,395 $ 283,180 $ 136,154 $ 22,515 $ 601,155 Catastrophe Risk Management 10 77 52 12,235 1,227 — (33 ) 1,052 3,113 11,995 Corporate — — — — 73,050 — — — 14,380 — $ 155,901 $ 277,362 $ 433,809 $ 444,532 $ 85,582 $ 7,395 $ 283,147 $ 137,206 $ 40,008 $ 613,150

Schedule IV - Reinsurance

Schedule IV - Reinsurance	12 Months Ended
	Dec. 31, 2016
Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract]
Schedule IV - Reinsurance	Schedule IV - Reinsurance For the years ended December 31, 2016 , 2015 and 2014 (expressed in thousands of U.S. dollars) Direct gross premiums written Ceded to other companies Assumed from other companies Net amount Percentage of amount assumed to net Year ended December 31, 2016 $ — $ 2,325 $ 617,374 $ 615,049 100 % Year ended December 31, 2015 $ — $ 1,876 $ 702,414 $ 700,538 100 % Year ended December 31, 2014 $ — $ 150 $ 613,300 $ 613,150 100 %

Significant accounting polici35

Significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Use of estimates	Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported and disclosed amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The major estimates reflected in the Company’s consolidated financial statements include, but are not limited to, the loss and loss adjustment expense reserves, estimates of written and earned premiums and fair value of financial instruments.
Cash and restricted cash and cash equivalents	Cash and restricted cash and cash equivalents Cash and cash equivalents consist of cash held in banks and other short-term, highly liquid investments with original maturity dates of ninety days or less. Restricted cash and cash equivalents consist of cash held in trust accounts securing obligations under certain reinsurance contracts and cash held with brokers and in trust accounts securing letters of credit issued under credit facilities.
Premium revenue recognition	Premium revenue recognition To the extent that the amount of written premium is estimable, the Company estimates the ultimate premiums for the entire contract period and records this estimate at the inception of the contract. For contracts where the full written premium is not estimable at inception, the Company records written premium for the portion of the contract period for which the amount is estimable. These estimates are based primarily on information in the underlying contracts as well as information provided by clients and/or brokers. Changes in premium estimates are expected and may result in adjustments in any reporting period. These estimates change over time as additional information regarding the underlying business volume is obtained. Any subsequent adjustments arising on such estimates are recorded in the period in which they are determined. Premiums written are earned over the exposure period in proportion to the period of risk covered. Unearned premiums represent the portion of premiums written that relate to the remaining term of the underlying policies in force. Premiums for retroactive exposures in reinsurance contracts are earned at the inception of the contract, as all of the underlying loss events covered by these exposures occurred in the past. Any underwriting profit at inception related to retroactive exposures in a reinsurance contract is deferred and recognised over the estimated future payout of the loss and loss adjustment expense reserves. Any underwriting loss at inception related to retroactive exposures in a reinsurance contract is recognised immediately.
Reinsurance premiums ceded	Reinsurance premiums ceded From time to time the Company reduces the risk of losses on business written by reinsuring certain risks and exposures with other reinsurers. The Company remains liable to the extent that any retrocessionaire fails to meet its obligations and to the extent that the Company does not hold sufficient security for their unpaid obligations. Ceded premiums are written during the period in which the risks incept and are earned over the contract period in proportion to the period of risk covered. Unearned premiums ceded consist of the unexpired portion of reinsurance ceded.
Deferred acquisition costs	Deferred acquisition costs Acquisition costs consist of commissions, brokerage and excise taxes that are related directly to the successful acquisition of new or renewal reinsurance contracts. These costs are deferred and amortized over the period in which the related premiums are earned. The Company evaluates the recoverability of deferred acquisition costs by determining if the sum of future earned premiums and anticipated investment income is greater than expected future loss and loss adjustment expenses and acquisition costs. If a loss is probable on the unexpired portion of contracts in force, a premium deficiency loss is recognized. As of December 31, 2016 , deferred acquisition costs are considered to be fully recoverable and no premium deficiency has been recorded. Acquisition costs also include profit commissions that are expensed when incurred. Profit commissions are calculated and accrued based on the expected loss experience for contracts and recorded when the current loss estimate indicates that a profit commission is probable under the contract terms.
Loss and loss adjustment expense reserves	Loss and loss adjustment expense reserves The Company’s loss and loss adjustment expense reserves include case reserves, reserves for losses incurred but not yet reported (“IBNR reserves”) and deferred gains on retroactive reinsurance contracts. Case reserves are established for losses that have been reported, but not yet paid. IBNR reserves represent the estimated loss and loss adjustment expenses that have been incurred by insureds and reinsureds but not yet reported to the insurer or reinsurer, including unknown future development on loss and loss adjustment expenses that are known to the insurer or reinsurer. IBNR reserves are established by management based on actuarially determined estimates of ultimate loss and loss adjustment expenses. Deferred gains represent the underwriting profit related to retroactive exposures in reinsurance contracts at inception and are deferred and amortized over the estimated future settlement period of the contract. Any underwriting loss at inception related to retroactive exposures in a reinsurance contract is recognized immediately. Inherent in the estimate of ultimate loss and loss adjustment expenses are expected trends in claim severity and frequency and other factors that may vary significantly as claims are settled. Accordingly, ultimate loss and loss adjustment expenses may differ materially from the amounts recorded in the consolidated financial statements. These estimates are reviewed regularly and, as experience develops and new information becomes known, the reserves are adjusted as necessary. Such adjustments, if any, are recorded in the consolidated statements of income (loss) in the period in which they become known.
Deposit liabilities	Deposit liabilities Certain contracts do not transfer sufficient insurance risk to be deemed reinsurance contracts and are accounted for using the deposit method of accounting. Management exercises judgment in determining whether contracts transfer sufficient risk to be accounted for as reinsurance contracts. Using the deposit method of accounting, a deposit liability, rather than written premium, is initially recorded based upon the consideration received less any explicitly identified premiums or fees. In subsequent periods, the deposit liability is adjusted by calculating the effective yield on the deposit to reflect actual payments to date and future expected payments.
Fair value measurement	Fair value measurement The Company determines the fair value of financial instruments in accordance with current accounting guidance, which defines fair value and establishes a three level fair value hierarchy based upon the transparency of inputs used in the valuation of an asset or liability. Fair value is defined as the price that the Company would receive to sell an asset or would pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Company determines the estimated fair value of each individual security utilizing the highest level inputs available. The fair value of the Company’s assets and liabilities, which qualify as financial instruments, approximates the carrying amounts presented in the consolidated balance sheets.
Investments	Investments The Company’s investments are classified as “trading securities” and are carried at fair value with changes in fair value included in earnings in the consolidated statements of income (loss) . The fair value of the Company’s investments are based on quoted market prices, or when such prices are not available, by reference to broker or underwriter bid indications, industry recognized pricing vendors, and/or internal pricing valuation techniques. Investment transactions are recorded on a trade date basis with balances pending settlement included in due to/from brokers in the consolidated balance sheets. Realized gains and losses are determined using cost calculated on a specific identification basis. Dividends are recorded on the ex-dividend date. Income and expense are recorded on the accrual basis including interest and premiums amortized and discounts accreted.
Derivatives	Derivatives Underwriting The Catastrophe Reinsurer entered into certain contracts under which the potential loss payments are triggered exclusively by reference to a specified index, such as an industry loss. These contracts are considered derivatives. The Company recorded the fair value of these contracts in derivative liabilities, at fair value, in the consolidated balance sheet. Changes in the fair value of these contracts were recorded in net investment income (loss) in the consolidated statements of income (loss) . Investments Derivative instruments within our investment assets managed by our investment manager, Third Point LLC, are recorded in the consolidated balance sheets at fair value, with changes in fair values and realized gains and losses recognized in net investment income (loss) in the consolidated statements of income (loss) . Derivatives serve as a key component of the Company’s investment strategy and are utilized primarily to structure the portfolio, or individual investments, and to economically match the investment objectives of the Company. The Company’s derivatives do not qualify as hedges for financial reporting purposes and are recorded in the consolidated balance sheets on a gross basis and not offset against any collateral pledged or received. Pursuant to the International Swaps and Derivatives Association (“ISDA”) master agreements, securities lending agreements and other derivatives agreements, the Company and its counterparties typically have the ability to net certain payments owed to each other in specified circumstances. In addition, in the event a party to one of the ISDA master agreements, securities lending agreements or other derivatives agreements defaults, or a transaction is otherwise subject to termination, the non-defaulting party generally has the right to set off against payments owed to the defaulting party or collateral held by the non defaulting party. The Company enters into derivative contracts to manage credit risk, interest rate risk, currency exchange risk and other exposure risks. The Company uses derivatives in connection with its risk-management activities to economically hedge certain risks and to gain exposure to certain investments. The utilization of derivative contracts also allows for an efficient means by which to trade certain asset classes. Fair values of derivatives are determined by using quoted market prices, industry recognized pricing vendors and counterparty quotes when available; otherwise fair values are based on pricing models that consider the time value of money, volatility and the current market and contractual prices of underlying financial instruments. Embedded derivatives Certain of the Company’s deposit and reinsurance contracts contain interest crediting features that vary based on the net investment return on investments managed by Third Point LLC. These contractual features are considered embedded derivatives in accordance with U.S. GAAP. We include the estimated fair value of these embedded derivatives in the consolidated balance sheets with the host contract in order to reflect the expected settlement of these features with the host contract. The change in estimated fair value of these embedded derivatives are recorded in other expenses in the consolidated statements of income (loss).
Share-based compensation	Share-based compensation The Company accounts for its share-based compensation transactions using the fair value of the award at the grant date. Determining the fair value of share purchase options at the grant date requires estimation and judgment. The Company uses an option-pricing model (Black-Scholes) to calculate the fair value of share purchase options. For share purchase options or restricted share awards granted that contain both a service and performance condition, the Company recognizes share compensation expense only for the portion of the options or restricted share awards that are considered probable of vesting. Share compensation for share purchase options or restricted share awards considered probable of vesting is expensed over the service (vesting) period on a graded vesting basis. The probability of share purchase options or restricted share awards vesting is evaluated at each reporting period. When the share purchase options or restricted share awards are considered probable of vesting, the Company records a true up of share compensation expense from the grant date (service inception date) to the current reporting period end based on the fair value of the options or restricted share awards at the grant date. The Company measures grant date fair value for restricted share awards, with a service condition only, based on the price of its common shares at the grant date and the expense is recognized on a straight-line basis over the vesting period.
Warrants	Warrants The Company accounts for warrant contracts issued to certain of its founding investors (“Founders”) in conjunction with the initial capitalization of the Company by using either the physical settlement or net-share settlement methods. The fair value of these warrants was recorded in equity as additional paid-in capital. The fair value of warrants issued are estimated on the grant date using the Black-Scholes option-pricing model. The Company accounts for certain warrant contracts issued to an advisor, where services have been received by the Company, in part, in exchange for equity instruments, based on the fair value of such services. The associated cost of these warrants has been recorded as capital raise costs and is included in additional paid in capital in the consolidated statements of shareholders’ equity.
Offering costs	Debt offering costs Costs incurred in issuing debt, which includes underwriters’ fees, legal and accounting fees, printing and other fees are capitalized and presented as a direct deduction from the principal amount of senior notes payable in the consolidated balance sheets. These costs are amortized over the term of the debt and are included in interest expense in the consolidated statements of income (loss) .
Foreign currency transactions	Foreign currency transactions The Company’s functional currency is the U.S. dollar. Transactions involving monetary assets and liabilities denominated in foreign currencies have been converted into U.S. dollars at the exchange rate in effect on the balance sheet date, and the related revenues and expenses are converted using specific rates for the period, as appropriate. Net foreign currency transaction gains and losses arising from these activities are reported in the consolidated statements of income (loss) in the period in which they arise. The Company does not isolate the portion of the net investment income (loss) resulting from changes in foreign exchange rates on investments, dividends and interest from the fluctuations arising from changes in fair values of securities and derivatives held within the total net investments managed by Third Point LLC. Periodic payments received or paid on swap agreements are recorded as realized gain or loss on investment transactions. Such fluctuations are included within net investment income (loss) in the consolidated statements of income (loss) .
Income taxes and uncertain tax positions	Income taxes, withholding taxes and uncertain tax positions The Company provides for income taxes for its operations in income tax paying jurisdictions. The Company’s provision relies on estimates and interpretations of currently enacted tax laws. The Company recognizes deferred tax assets and liabilities based on the temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities. Such temporary differences are primarily due to tax basis discounts on loss and loss adjustment expense reserves and unearned premiums, deferred acquisition costs and investments. A valuation allowance against deferred tax assets is recorded if it is more likely than not that all, or some portion, of the benefits related to deferred tax assets will not be realized. Any adjustments to deferred income taxes are accounted for as changes in estimates and are reflected in the consolidated statements of income (loss) in the year in which they are made. Adjustments could be material and could significantly impact earnings in the year they are recorded. The Company is subject to withholding tax obligations related to dividends, capital gains and interest on certain investments. These withholding taxes are recorded when they become payable and are included in income tax expense (benefit) in the Company’s consolidated statements of income (loss) . The Company has recognized uncertain tax positions related to certain investment transactions in foreign jurisdictions. The Company records its uncertain tax positions based on an estimate of the potential liability, including potential interests and penalties, arising from its investment transactions conducted in foreign countries. The changes in the Company’s uncertain tax position is included in income tax expense (benefit) in the Company’s consolidated statements of income (loss) .
Non-controlling interests	Non-controlling interests The Company consolidates the results of entities in which it has a controlling financial interest. The Company records the portion of shareholders’ equity attributable to non-controlling interests as a separate line within shareholders’ equity in the consolidated balance sheets. The Company records the portion of income attributable to non-controlling interests as a separate line within the consolidated statements of income (loss) .
Earnings per share	Earnings (loss) per share Basic earnings (loss) per share is based on the weighted average number of common shares and participating securities outstanding during the period. The weighted average number of common shares excludes any dilutive effect of outstanding warrants, options and unvested restricted shares. Diluted earnings (loss) per share is based on the weighted average number of common shares and participating securities outstanding and includes any dilutive effects of warrants, options and unvested restricted shares under share plans and are determined using the treasury stock method. U.S. GAAP requires that unvested share awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid (referred to as “participating securities”), be treated in the same manner as outstanding shares for earnings per share calculations. The Company treats certain of its unvested restricted shares as participating securities. In the event of a net loss, all participating securities, outstanding warrants, options and restricted shares are excluded from both basic and diluted loss per share since their inclusion would be anti-dilutive.
Leases	Leases Leases in which substantially all of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases (net of any incentives received from the lessor) are recognized in the consolidated statements of income (loss) on a straight-line basis over the term of the lease.
Comprehensive income	Comprehensive income The Company has no comprehensive income other than net income disclosed in the consolidated statements of income (loss) .
Segment information	Segment information Under U.S. GAAP, operating segments are based on the internal information that management uses for allocating resources and assessing performance of the Company. The Company reports one operating segment, Property and Casualty Reinsurance. The Company also has a corporate function that includes the Company’s investment income on capital, certain general and administrative expenses related to its corporate activities, interest expense, foreign exchange gains (losses) and income tax (expense) benefit.
Treasury, shares	Treasury shares Common shares repurchased by the Company and not canceled are classified as treasury shares. Treasury shares are recorded at cost, which results in a reduction of shareholders’ equity in the consolidated balance sheets. When shares are reissued from treasury, the Company uses the average cost method to determine the cost of the reissued shares. Gains on sales of treasury shares are credited to additional paid-in capital, while losses are charged to additional paid-in capital to the extent that previous net gains from sales of treasury shares are included therein; otherwise, losses are charged to retained earnings.
Recently issued accounting standards	Recent accounting pronouncements Adoption of New Accounting Standards In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2014-15, Presentation of Financial Statements- Going Concern (ASU 2014-15). ASU 2014-15 requires management to evaluate, for each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. If conditions or events raise substantial doubt about an entity’s ability to continue as a going concern, the entity will be required to disclose information that enables the users of the financial statements to understand the principal conditions or events, management’s evaluation of the significance of those events or conditions and management’s plans that alleviate substantial doubt about the entity’s ability to continue as a going concern. ASU 2014-15 became effective for the annual period ending after December 15, 2016. Management’s evaluation did not identify any conditions or events that would raise substantial doubt about the Company’s ability to continue as a going concern. In February 2015, the FASB issued Accounting Standard Update 2015-02, Consolidation (Topic 810) Amendments to the Consolidation Analysis (ASU 2015-02). ASU 2015-02 requires management to evaluate whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities. ASU 2015-02 eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. ASU 2015-02 also provides 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 amendments in ASU 2015-02 are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim period within those fiscal years. ASU 2015-02 did not change the accounting presentation or disclosure of any of the Company’s VIEs. In May 2015, the FASB issued Accounting Standards Update 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (ASU 2015-07) . ASU 2015-07 eliminates the requirement to categorize certain investments in the fair value hierarchy if their fair value is measured at net asset value (“NAV”) per share (or its equivalent) using the practical expedient in the FASB’s fair value measurement guidance. The amendments in ASU 2015-07 are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The Company has removed investments measured at NAV from the fair value hierarchy disclosure in its consolidated financial statements. In May 2015, the FASB issued Accounting Standards Update 2015-09, Disclosures about Short-Duration Contracts (ASU 2015-09) . ASU 2015-09 amends ASC 944 (Financial Services - Insurance) to expand the disclosures that an insurance entity must provide about its short-duration insurance contracts. Under ASU 2015-09, the FASB focused on targeted improvements to provide users with additional information about insurance liabilities, including the nature, amount, timing, and uncertainty of future cash flows related to insurance liabilities. The amendments in ASU 2015-09 are effective for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. The Company has included the additional new disclosures in Note 8 to these consolidated financial statements as of and for the year ended December 31, 2016 and will include for interim periods thereafter. In June 2015, the FASB issued Accounting Standards Update 2015-10, Technical Corrections and Improvements (ASU 2015-10). ASU 2015-10 amends a number of Topics in the FASB Accounting Standards Codification and is part of an ongoing project on the FASB’s agenda to facilitate Codification updates for non-substantive technical corrections, clarifications and improvements that are not expected to have a significant effect on accounting practice or create a significant administrative cost to most entities. The amendments to transition guidance are effective for fiscal years beginning after December 15, 2015. All other changes were effective upon issuance of ASU 2015-10. The Company did not have any technical corrections, clarifications or improvements for which this standard applied. In December 2016, the FASB issued Accounting Standards Update 2016-19, Technical Corrections and Improvements (ASU 2016-19). ASU 2016-19 makes certain technical corrections to the FASB Accounting Standards Codification. The amendments are effective upon issuance of this ASU 2016-19. The Company did not have any technical corrections, clarifications or improvements for which this standard applied. Recently Issued Accounting Standards Not Yet Adopted

Restricted cash and cash equi36

Restricted cash and cash equivalents and investments (Tables)	12 Months Ended
	Dec. 31, 2016
Cash and Cash Equivalents [Abstract]
Schedule of restricted cash and cash equivalents	Restricted cash and cash equivalents and restricted investments as of December 31, 2016 and 2015 consisted of the following: 2016 2015 ($ in thousands) Restricted cash securing letter of credit facilities (1) $ 231,822 $ 270,755 Restricted cash securing other reinsurance contracts (2) 67,118 60,160 Total restricted cash and cash equivalents 298,940 330,915 Restricted investments securing other reinsurance contracts (2) 427,308 292,111 Total restricted cash and cash equivalents and restricted investments $ 726,248 $ 623,026 (1) Restricted cash securing letter of credit facilities pertains to letters of credit issued to clients and cash securing these obligations that the Company will not be released from until the underlying reserves have been settled. The time period for which the Company expects these letters of credit to be in place varies from contract to contract, but can last several years. (2) Restricted cash and restricted investments securing other reinsurance contracts pertain to trust accounts securing the Company’s contractual obligations under certain reinsurance contracts that the Company will not be released from until all underlying risks have expired or have been settled. Restricted investments include certain investments in debt securities including U.S. Treasury securities and sovereign debt. The time period for which the Company expects these trust accounts to be in place varies from contract to contract, but can last several years.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Investments Managed by TP LLC	The Company’s investments are managed by its investment manager, Third Point LLC (“Third Point LLC” or the “Investment Manager”), under long-term investment management contracts. The Company directly owns the investments that are held in separate accounts and managed by Third Point LLC. The following is a summary of the separate accounts managed by Third Point LLC: 2016 2015 Assets ($ in thousands) Total investments in securities $ 2,619,839 $ 2,290,779 Cash and cash equivalents 5 57 Restricted cash and cash equivalents 298,940 330,915 Due from brokers 284,591 326,971 Derivative assets 27,432 35,337 Interest and dividends receivable 6,505 10,687 Total assets 3,237,312 2,994,746 Liabilities and non-controlling interest Accounts payable and accrued expenses 1,374 770 Securities sold, not yet purchased 92,668 314,353 Securities sold under an agreement to repurchase — 8,944 Due to brokers 899,601 574,962 Derivative liabilities 16,050 15,392 Interest and dividends payable 386 1,345 Non-controlling interest 35,674 16,157 Total liabilities and non-controlling interest 1,045,753 931,923 Total net investments managed by Third Point LLC $ 2,191,559 $ 2,062,823
Schedule of the Largest Concentration of the Company's Asset-Backed Securities	As of December 31, 2016 and 2015 , the Company’s asset-backed securities (“ABS”) holdings were as follows: 2016 2015 ($ in thousands) Re-REMIC (1) $ 44,359 17.4 % $ 195,889 39.6 % Subprime RMBS 117,152 46.0 % 174,777 35.3 % Collateralized debt obligations 3,433 1.3 % 50,455 10.2 % Market place loans 44,143 17.3 % 13,247 2.7 % Other (2) 45,765 18.0 % 60,355 12.2 % $ 254,852 100.0 % $ 494,723 100.0 % (1) Mezzanine portions of the re-securitized real estate mortgage investment conduits (“re-REMIC”) structure of ABS. (2) Other includes: U.S. Alt-A positions, commercial mortgage-backed securities, market place loans, Non-U.S. RMBS and student loans ABS.
Schedule of investments, categorized by the level of the fair value hierarchy	The following tables present the Company’s investments, categorized by the level of the fair value hierarchy as of December 31, 2016 and 2015 : December 31, 2016 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets ($ in thousands) Equity securities $ 1,450,966 $ 2,255 $ — $ 1,453,221 Private common equity securities — — 4,799 4,799 Private preferred equity securities — — 48,834 48,834 Total equities 1,450,966 2,255 53,633 1,506,854 Asset-backed securities — 237,224 17,628 254,852 Bank debt — 48,546 8,350 56,896 Corporate bonds — 209,025 9,255 218,280 U.S. Treasury securities — 327,016 — 327,016 Sovereign debt — 200,913 — 200,913 Total debt securities — 1,022,724 35,233 1,057,957 Options 343 681 — 1,024 Trade claims — 9,022 — 9,022 Total other investments 343 9,703 — 10,046 Derivative assets (free standing) 961 26,471 — 27,432 $ 1,452,270 $ 1,061,153 $ 88,866 2,602,289 Investments in funds valued at NAV 72,655 Total assets $ 2,674,944 Liabilities Equity securities $ 71,457 $ — $ — $ 71,457 Corporate bonds — 17,683 — 17,683 Options — 3,528 — 3,528 Total securities sold, not yet purchased 71,457 21,211 — 92,668 Derivative liabilities (free standing) 1,608 13,116 1,326 16,050 Derivative liabilities (embedded) — — 92 92 Total liabilities $ 73,065 $ 34,327 $ 1,418 $ 108,810 December 31, 2015 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets ($ in thousands) Equity securities $ 1,181,865 $ 19,758 $ — $ 1,201,623 Private common equity securities — 919 4,357 5,276 Private preferred equity securities — — 24,178 24,178 Total equities 1,181,865 20,677 28,535 1,231,077 Asset-backed securities — 492,106 2,617 494,723 Bank debt — 2,158 7,660 9,818 Corporate bonds — 79,938 3,252 83,190 U.S. Treasury securities — 186,471 — 186,471 Sovereign debt — 260,024 21 260,045 Total debt securities — 1,020,697 13,550 1,034,247 Options — 8,911 — 8,911 Rights and warrants 416 — — 416 Trade claims — 8,329 — 8,329 Total other investments 416 17,240 — 17,656 Derivative assets (free standing) — 35,337 — 35,337 $ 1,182,281 $ 1,093,951 $ 42,085 2,318,317 Investments in funds valued at NAV 34,264 Total assets $ 2,352,581 Liabilities Equity securities $ 228,009 $ — $ — $ 228,009 Sovereign debt — 5,856 — 5,856 Corporate bonds — 76,131 — 76,131 Options 690 3,667 — 4,357 Total securities sold, not yet purchased 228,699 85,654 — 314,353 Derivative liabilities (free standing) — 14,372 1,020 15,392 Derivative liabilities (embedded) — — 5,563 5,563 Total liabilities $ 228,699 $ 100,026 $ 6,583 $ 335,308
Schedule of reconciliation of the balances for all investments measured at fair value using significant unobservable inputs	The following table presents the reconciliation of all investments measured at fair value using Level 3 inputs for the years ended December 31, 2016 and 2015 : January 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains(Losses) (1) December 31, ($ in thousands) Assets Private common equity securities $ 4,357 $ — $ 60 $ — $ 382 $ 4,799 Private preferred equity securities 24,178 — 20,574 (60 ) 4,142 48,834 Asset-backed securities 2,617 17,390 5,433 (3,527 ) (4,285 ) 17,628 Bank debt 7,660 — 3,248 (928 ) (1,630 ) 8,350 Corporate bonds 3,252 — 12,651 (7,288 ) 640 9,255 Sovereign debt 21 — — (20 ) (1 ) — Total assets $ 42,085 $ 17,390 $ 41,966 $ (11,823 ) $ (752 ) $ 88,866 Liabilities Derivative liabilities (free standing) $ (1,020 ) $ — $ — $ (306 ) $ — $ (1,326 ) Derivative liabilities (embedded) (5,563 ) — 6,072 (861 ) 260 (92 ) Total liabilities $ (6,583 ) $ — $ 6,072 $ (1,167 ) $ 260 $ (1,418 ) January 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains(Losses) (1) December 31, ($ in thousands) Assets Private common equity securities $ 1,443 $ — $ 4,384 $ (192 ) $ (1,278 ) $ 4,357 Private preferred equity securities — — 18,991 — 5,187 24,178 Asset-backed securities 4,720 (2,212 ) 4,929 (2,563 ) (2,257 ) 2,617 Bank debt — — 8,123 — (463 ) 7,660 Corporate bonds 3,799 — — (372 ) (175 ) 3,252 Sovereign debt — 19 — — 2 21 Total assets $ 9,962 $ (2,193 ) $ 36,427 $ (3,127 ) $ 1,016 $ 42,085 Liabilities Derivative liabilities (free standing) $ (962 ) $ — $ — $ (173 ) $ 115 $ (1,020 ) Derivative liabilities (embedded) (9,289 ) — 4,417 (3,152 ) 2,461 (5,563 ) Total liabilities $ (10,251 ) $ — $ 4,417 $ (3,325 ) $ 2,576 $ (6,583 ) (1) Total change in realized and unrealized gains (losses) recorded on Level 3 financial instruments is included in net investment income (loss) in the consolidated statements of income (loss) .
Schedule of significant unobservable inputs used	The following table summarizes information about the significant unobservable inputs used in determining the fair value of the Level 3 investments held by the Company. Level 3 investments not presented in the table below generally do not have any unobservable inputs to disclose, as they are valued primarily using dealer quotes, or at cost. December 31, 2016 Assets Fair value ($ in thousands) Valuation technique Unobservable (U) and Range Derivative liabilities (embedded) $ 92 Discounted cash flow Contractual variable annual investment credit (U) 0.0% - 2.5% Mean monthly investment return (U) 0.8 % Duration from inception of contracts (U) 5.0 years Duration from valuation date (U) 3.0 years Interest rates (O) U.S. Treasury spot rates Private equity investments 47,608 Market approach Discount (U) 5.0% - 25.0% Volatility (U) 40.0% - 60.0% Time to exit (U) 0.4 - 2.8 years Multiple (U) 2.0 - 3.8x December 31, 2015 Assets Fair value ($ in thousands) Valuation technique Unobservable (U) and Range Corporate bond $ 2,444 Discounted cash flow Yield (U) 10.4% - 11.4% Duration (U) 3.0 years Credit spread (U) 986 bps Volatility (U) 25.0% - 35.0% Derivative liabilities (embedded) $ 5,563 Discounted cash flow Contractual variable annual investment credit (U) 0.0% - 2.5% Mean monthly investment return (U) 1.2 % Duration from inception of contracts (U) 5.0 - 5.5 years Duration from valuation date (U) 4.0 - 5.0 years Interest rates (O) U.S. Treasury spot rates

Securities purchased under an38

Securities purchased under an agreement to sell Securities purchased under an agreement to sell (Tables)	12 Months Ended
	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings	The following table presents the remaining contractual maturity of the repurchase agreements and securities lending transactions by class of collateral pledged as of December 31, 2016 and 2015 : December 31, 2016 Overnights and continuous Up to 30 days 30 - 90 days Greater than 90 days Total ($ in thousands) Securities lending transactions U.S. Treasury and agency securities $ 310 $ — $ — $ — $ 310 December 31, 2015 Overnights and continuous Up to 30 days 30 - 90 days Greater than 90 days Total ($ in thousands) Repurchase agreements Non-U.S. sovereign debt $ — $ — $ 8,944 $ — $ 8,944 Securities lending transactions Corporate bonds $ 112 $ — $ — $ — $ 112

Due from_to brokers (Tables)

Due from/to brokers (Tables)	12 Months Ended
	Dec. 31, 2016
Due to and from Broker-Dealers and Clearing Organizations [Abstract]
Schedule of Due From/To Brokers	As of December 31, 2016 and 2015 , the Company’s due from/to brokers were comprised of the following: 2016 2015 ($ in thousands) Due from brokers Cash held at brokers $ 240,205 $ 249,871 Receivable from unsettled trades (1) 44,386 77,100 $ 284,591 $ 326,971 Due to brokers Borrowing from prime brokers (2) $ 855,576 $ 572,688 Payable from unsettled trades 44,025 2,274 $ 899,601 $ 574,962 (1) Receivables relating to securities previously owned by the Company are recorded as receivable from unsettled trades in due from brokers in the Company’s consolidated balance sheets. During the year ended December 31, 2015 , the Company’s investment manager, Third Point LLC, exercised appraisal rights relating to an underlying investment, which was bought by a private equity firm. The Company is currently awaiting a court decision regarding the sale price and as such, as of December 31, 2016 , $37.6 million ( December 31, 2015 - $37.6 million ) was included in receivable from unsettled trades in due from brokers. (2) As of December 31, 2016 , the Company’s borrowing from prime brokers includes a total non-U.S. currency balance of $22.0 million ( December 31, 2015 - $9.8 million ).

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of listing currency, fair value and notional amounts of derivative instruments	The following tables identify the listing currency, fair value and notional amounts of derivative instruments included in the consolidated balance sheets, categorized by primary underlying risk. Balances are presented on a gross basis. As of December 31, 2016 Listing currency (1) Fair Value Notional Amounts (2) Derivative Assets by Primary Underlying Risk ($ in thousands) Credit Credit Default Swaps - Protection Purchased E UR/ USD $ 10,905 $ 84,327 Equity Price Contracts for Differences - Long Contracts E UR/ GBP 1,765 36,879 Total Return Swaps - Long Contracts B RL/ USD 617 19,140 Total Return Swaps - Short Contracts J PY 183 8,696 Interest Rates Interest Rate Swaps GBP/USD 2,462 195,571 Interest Rate Swaptions J PY / USD 5,354 424,816 Sovereign Debt Futures - Short Contracts U SD 961 107,591 Foreign Currency Exchange Rates Foreign Currency Forward Contracts CAD/ CNH/ GBP/ MXN 653 47,754 Foreign Currency Options - Purchased CNH/EUR/HKD/JPY/SAR 4,532 501,465 Total Derivative Assets $ 27,432 $ 1,426,239 Listing currency (1) Fair Value Notional Amounts (2) Derivative Liabilities by Primary Underlying Risk ($ in thousands) Credit Credit Default Swaps - Protection Purchased U SD $ 3,286 $ 43,184 Credit Default Swaps - Protection Sold U SD 1,952 3,943 Equity Price Contracts for Differences - Long Contracts G BP — 67 Contracts for Differences - Short Contracts E UR / ZAR 1,106 11,424 Total Return Swaps - Long Contracts U SD 1,675 26,800 Total Return Swaps - Short Contracts J PY / USD 1,302 10,095 Interest Rates Interest Rate Swaps G BP 722 59,115 Interest Rate Swaptions J PY/USD 1,056 417,052 Sovereign Debt Futures - Short Contracts E UR / GBP 1,608 159,923 Foreign Currency Exchange Rates Foreign Currency Forward Contracts E UR /JPY /SAR 2,009 214,854 Foreign Currency Options - Sold CNH/JPY 1,334 363,840 Total Derivative Liabilities (free standing) $ 16,050 $ 1,310,297 Embedded derivative liabilities in reinsurance contracts (3) USD $ 92 $ 20,000 Total Derivative Liabilities (embedded) $ 92 $ 20,000 (1) BRL = Brazilian Real, CAD = Canadian Dollar, CNH = Chinese Yuan, EUR = Euro, GBP = British Pound, HKD = Hong Kong Dollar, JPY = Japanese Yen, MXN = Mexican Peso, SAR = Saudi Arabian Riyal, USD = US Dollar, ZAR = South African Rand (2) The absolute notional exposure represents the Company’s derivative activity as of December 31, 2016 , which is representative of the volume of derivatives held during the period. (3) The fair value of embedded derivatives in reinsurance contracts is included in reinsurance balances payable in the consolidated balance sheets. As of December 31, 2015 Listing currency (1) Fair Value Notional Amounts (2) Derivative Assets by Primary Underlying Risk ($ in thousands) Credit Credit Default Swaps - Protection Purchased EUR/USD $ 21,692 $ 183,125 Equity Price Contracts for Differences - Long Contracts EUR/GBP/USD 631 41,686 Contracts for Differences - Short Contracts CHF/EUR/GBP/JPY/NOK/USD 5,884 80,027 Total Return Swaps - Long Contracts USD 415 58,799 Total Return Swaps - Short Contracts JPY/USD 466 9,457 Interest Rates Commodity Futures - Short Contracts USD 71 17,501 Interest Rate Swaptions JPY/USD 90 43,831 Foreign Currency Exchange Rates Foreign Currency Forward Contracts CAD/EUR/GBP/MXN/SAR 1,947 155,518 Foreign Currency Options - Purchased CNH/EUR/SAR 4,141 193,613 Total Derivative Assets $ 35,337 $ 783,557 Listing currency (1) Fair Value Notional Amounts (2) Derivative Liabilities by Primary Underlying Risk ($ in thousands) Credit Credit Default Swaps - Protection Purchased EUR/USD $ 3,449 $ 38,455 Credit Default Swaps - Protection Sold GBP/EUR/USD 2,054 6,436 Equity Price Contracts for Differences - Long Contracts EUR/GBP/USD 1,111 2,311 Contracts for Differences - Short Contracts EUR/GBP/USD 3,411 50,471 Total Return Swaps - Long Contracts JPY/USD 3,430 163,224 Total Return Swaps - Short Contracts AUD/JPY/USD 386 19,318 Interest Rates Commodity Futures - Short Contracts USD 18 13,069 Interest Rate Swaptions USD 17 87,499 Foreign Currency Exchange Rates Foreign Currency Forward Contracts JPY/SAR 1,041 87,127 Foreign Currency Options - Sold CNH/SAR 475 118,415 Total Derivative Liabilities (free standing) $ 15,392 $ 586,325 Embedded derivative liabilities in reinsurance contracts (3) USD $ 5,563 $ 20,000 Total Derivative Liabilities (embedded) $ 5,563 $ 20,000 (1) AUD = Australian Dollar, CAD = Canadian Dollar, CHF = Swiss Franc, CNH = Chinese Yuan, EUR = Euro, GBP = British Pound, JPY = Japanese Yen, MXN = Mexican Peso, NOK = Norwegian Krone, SAR = Saudi Arabian Riyal, USD = US Dollar (2) The absolute notional exposure represents the Company’s derivative activity as of December 31, 2015 , which is representative of the volume of derivatives held during the period. (3) The fair value of embedded derivatives in reinsurance contracts is included in reinsurance balances payable in the consolidated balance sheets.
Schedule of realized and unrealized gains (losses) relating to trading activities	The following table sets forth, by major risk type, the Company’s realized and unrealized gains (losses) relating to derivatives for the years ended December 31, 2016 , 2015 and 2014 . Realized and unrealized gains (losses) related to free standing derivatives are included in net investment income (loss) in the consolidated statements of income (loss) . Realized and unrealized gains (losses) related to embedded derivatives are included in other expenses in the consolidated statements of income (loss) . 2016 2015 2014 Primary Underlying Risk Realized Gain (Loss) Unrealized Gain (Loss)* Realized Gain (Loss) Unrealized Gain (Loss)* Realized Gain (Loss) Unrealized Gain (Loss)* Commodity Price ($ in thousands) Commodities Futures - Long Contracts $ — $ — $ (1,515 ) $ — $ — $ — Commodity Future Options - Purchased 651 — (286 ) 285 (470 ) (289 ) Commodity Future Options - Sold — — 272 (269 ) 364 101 Credit Credit Default Swaps - Protection Purchased 4,311 (6,841 ) 1,282 4,839 (5,627 ) 1,018 Credit Default Swaps - Protection Sold (4,009 ) 4,149 2,071 (2,098 ) 1,362 (830 ) Equity Price Contracts for Differences - Long Contracts (4,123 ) 2,245 (6,101 ) 660 (1,869 ) (11,621 ) Contracts for Differences - Short Contracts (253 ) (3,579 ) 8,459 2,418 (3,873 ) 413 Total Return Swaps - Long Contracts (6,835 ) 1,957 1,410 (2,469 ) 18,782 (2,112 ) Total Return Swaps - Short Contracts (4,812 ) (1,198 ) (1,395 ) 45 (795 ) 171 Index Index Futures - Long Contracts — — 1,144 — (840 ) — Index Futures - Short Contracts — — — — (253 ) 441 Interest Rates Bond Futures - Short Contracts — — (2,584 ) — (1,077 ) (212 ) Commodities Futures - Short Contracts (281 ) (52 ) (580 ) 194 (11 ) (143 ) Fixed Income Swap - Short Contracts (94 ) — — — — — Interest Rate Swaps 205 1,740 119 — (743 ) 639 Interest Rate Swaptions (340 ) 869 (771 ) (39 ) (455 ) (918 ) Sovereign Debt Futures - Short Contracts 10,519 (647 ) — — — — Treasury Futures - Short Contracts — — (2,734 ) 280 (1,163 ) (388 ) Foreign Currency Exchange Rates Foreign Currency Forward (2,747 ) (2,261 ) 21,429 (3,334 ) 16,891 3,617 Foreign Currency Options - Purchased (2,338 ) (2,229 ) 318 (1,144 ) (265 ) 941 Foreign Currency Options - Sold 617 (103 ) 1,214 316 (1,438 ) 63 Reinsurance contract derivatives — — 30 — — 982 $ (9,529 ) $ (5,950 ) $ 21,782 $ (316 ) $ 18,520 $ (8,127 ) Embedded Derivatives Embedded derivatives in reinsurance contracts $ — $ 260 $ (5 ) $ 362 $ — $ 102 Embedded derivatives in deposit contracts — — 2,104 — — (2,090 ) Total Derivative Liabilities (embedded) $ — $ 260 $ 2,099 $ 362 $ — $ (1,988 ) * Unrealized gain (loss) relates to derivatives still held at reporting date.
Schedule of gross and net amounts of derivative instruments that are subject to enforceable master netting arrangements or similar agreements	As of December 31, 2016 and 2015 , the gross and net amounts of derivative instruments and repurchase and reverse repurchase agreements that are subject to enforceable master netting arrangements or similar agreements were as follows: Gross Amounts not Offset in the Consolidated Balance Sheet December 31, 2016 Derivative Contracts Gross Amounts of Assets Presented in the Consolidated Balance Sheet (1) Financial Instruments Cash Collateral Received Net Amount Financial assets, derivative assets and collateral received ($ in thousands) Counterparty 1 $ 535 $ 535 $ — $ — Counterparty 2 3,147 607 — 2,540 Counterparty 3 8,652 4,760 — 3,892 Counterparty 4 1,639 1,639 — — Counterparty 5 7,336 3,027 — 4,309 Counterparty 6 6,262 2,599 3,383 280 Counterparty 7 227 — 197 30 Counterparty 8 277 277 — — Counterparty 9 37 37 — — Total $ 28,112 $ 13,481 $ 3,580 $ 11,051 Gross Amounts not Offset in the Consolidated Balance Sheet December 31, 2016 Derivative Contracts Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet (2) Financial Instruments Cash Collateral Pledged Net Amount Financial liabilities, derivative liabilities and collateral pledged ($ in thousands) Counterparty 1 $ 2,959 $ 535 $ 2,424 $ — Counterparty 2 607 607 — — Counterparty 3 4,760 4,760 — — Counterparty 4 3,827 1,639 2,188 — Counterparty 5 3,027 3,027 — — Counterparty 6 2,599 2,599 — — Counterparty 8 977 277 — 700 Counterparty 9 822 37 785 — Total $ 19,578 $ 13,481 $ 5,397 $ 700 Securities lending transactions Counterparty 3 $ 302 $ 302 $ — $ — $ 302 $ 302 $ — $ — (1) The Gross Amounts of Assets Presented in the consolidated balance sheets presented above includes the fair value of Derivative Contract assets as well as gross OTC option contract assets of $0.7 million included in Other Investments in the consolidated balance sheets. (2) The Gross Amounts of Liabilities Presented in the consolidated balance sheets presented above includes the fair value of Derivative Contract liabilities as well as gross OTC option contract liabilities of $3.5 million included in Securities sold, not yet purchased in the consolidated balance sheets. Gross Amounts not Offset in the Consolidated Balance Sheet December 31, 2015 Derivative Contracts Gross Amounts of Assets Presented in the Consolidated Balance Sheet (1) Financial Instruments Cash Collateral Received Net Amount Financial assets, derivative assets and collateral received ($ in thousands) Counterparty 1 $ 2,171 $ 2,171 $ — $ — Counterparty 2 4,959 1,243 — 3,716 Counterparty 3 6,347 2,335 — 4,012 Counterparty 4 3,679 2,656 — 1,023 Counterparty 5 14,181 4,027 — 10,154 Counterparty 6 7,351 1,657 1,993 3,701 Counterparty 7 882 — 194 688 Counterparty 8 2,669 2,669 — — Counterparty 9 2,009 542 — 1,467 Total $ 44,248 $ 17,300 $ 2,187 $ 24,761 Gross Amounts not Offset in the Consolidated Balance Sheet December 31, 2015 Derivative Contracts Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet (2) Financial Instruments Cash Collateral Pledged Net Amount Financial liabilities, derivative liabilities and collateral pledged ($ in thousands) Counterparty 1 $ 2,626 $ 2,171 $ 455 $ — Counterparty 2 1,243 1,243 — — Counterparty 3 2,335 2,335 — — Counterparty 4 2,816 2,656 160 — Counterparty 5 4,028 4,028 — — Counterparty 6 1,657 1,657 — — Counterparty 8 3,659 2,669 — 990 Counterparty 9 542 542 — — Counterparty 15 153 6 147 — Total $ 19,059 $ 17,307 $ 762 $ 990 Securities sold under an agreement to repurchase and securities lending transactions Counterparty 3 $ 114 $ — $ 112 $ 2 Counterparty 4 8,944 8,944 — — $ 9,058 $ 8,944 $ 112 $ 2 (1) The Gross Amounts of Assets Presented in the consolidated balance sheets presented above includes the fair value of Derivative Contract assets as well as gross OTC option contract assets of $8.9 million included in Other Investments in the consolidated balance sheets. (2) The Gross Amounts of Liabilities Presented in the consolidated balance sheets presented above includes the fair value of Derivative Contract liabilities as well as gross OTC option contract liabilities of $3.7 million included in Securities sold, not yet purchased in the consolidated balance sheets.

Loss and loss adjustment expe41

Loss and loss adjustment expense reserves (Tables)	12 Months Ended
	Dec. 31, 2016
Loss and Loss Adjustment Expense Reserves [Abstract]
Schedule of loss and loss adjustment expense reserves	As of December 31, 2016 and 2015 , loss and loss adjustment expense reserves in the consolidated balance sheets was comprised of the following: December 31, December 31, ($ in thousands) Case loss and loss adjustment expense reserves $ 80,370 $ 87,186 Incurred but not reported loss and loss adjustment expense reserves 522,818 375,690 Deferred gains on retroactive reinsurance contracts 1,941 3,171 $ 605,129 $ 466,047
Schedule of activity in the reserve for losses and loss adjustment expenses	The following table represents the activity in the loss and loss adjustment expense reserves for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Gross reserves for loss and loss adjustment expenses, beginning of year $ 466,047 $ 277,362 $ 134,331 Less: loss and loss adjustment expenses recoverable, beginning of year (125 ) (814 ) (9,277 ) Net reserves for loss and loss adjustment expenses, beginning of year 465,922 276,548 125,054 Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in: Current year 373,048 419,377 286,787 Prior years 23,930 (3,330 ) (3,559 ) Amortization of deferred gains on retroactive reinsurance contracts (1,046 ) (856 ) (81 ) Total incurred loss and loss adjustment expenses 395,932 415,191 283,147 Net loss and loss adjustment expenses paid in respect of losses occurring in: Current year (105,921 ) (100,403 ) (70,562 ) Prior years (133,241 ) (121,665 ) (61,091 ) Total net paid losses (239,162 ) (222,068 ) (131,653 ) Foreign currency translation (17,564 ) (3,749 ) — Net reserve for loss and loss adjustment expenses, end of year 605,128 465,922 276,548 Plus: loss and loss adjustment expenses recoverable, end of year 1 125 814 Gross reserve for loss and loss adjustment expenses, end of year $ 605,129 $ 466,047 $ 277,362
Schedule of total loss and loss adjustment expenses incurred, net and net loss and loss adjustment expenses paid by accident years	The following tables present the Company’s total loss and loss adjustment expenses incurred, net and net loss and loss adjustment expenses paid by accident years for the years ended December 31, 2016 , 2015 , 2014 , 2013 and 2012: Loss and loss adjustment expenses incurred, net (1)(2) Accident year 2012 2013 2014 2015 2016 IBNR loss and loss adjustment expense reserves, net ($ in thousands) (Unaudited) (Unaudited) (Unaudited) (Unaudited) 2012 $ 80,306 $ 75,413 $ 76,273 $ 76,538 $ 76,628 $ 290 2013 — 144,508 140,123 144,312 144,058 10,404 2014 — — 284,464 275,622 274,910 74,768 2015 — — — 396,635 421,923 204,039 2016 — — — — 366,725 233,317 Total $ 1,284,244 Cumulative net losses and loss adjustment expenses paid (1)(2) Accident year 2012 2013 2014 2015 2016 ($ in thousands) (Unaudited) (Unaudited) (Unaudited) (Unaudited) 2012 $ 13,035 $ 67,449 $ 73,503 $ 74,941 $ 75,770 2013 — 27,528 82,565 109,489 118,729 2014 — — 70,562 163,250 185,979 2015 — — — 98,665 196,933 2016 — — — — 103,646 Total $ 681,057 Net reserves for loss and loss adjustment expenses, end of year $ 603,187 Deferred gains on retroactive reinsurance contracts 1,941 Loss and loss adjustment expenses recoverable, end of year 1 Gross reserve for loss and loss adjustment expenses, end of year $ 605,129 (1) For purposes of this disclosure and for all periods presented, the Company’s contracts in foreign currencies are translated at the foreign exchange rate in effect as of December 31, 2016 . (2) The information presented is for the Property and Casualty Reinsurance segment only, which captures all of the Company’s underwriting activities. The Catastrophe Risk Management segment has been excluded from this presentation (see Note 22 for additional information on the Catastrophe Risk Management segment).
Schedule of percentage annual payout on losses	The following table presents the Company’s historical average annual percentage payout of loss and loss adjustment expenses incurred, net by age as of December 31, 2016 : Year 1 Year 2 Year 3 Year 4 Year 5 (Unaudited) 22.7 % 41.6 % 11.6 % 4.1 % 1.1 %

Management, performance and f42

Management, performance and founders fees (Tables)	12 Months Ended
	Dec. 31, 2016
Management, Performance and Founders Fees [Abstract]
Schedule of investment fee expenses	Investment fee expenses related to the Investment Agreements, which are included in net investment income (loss) in the consolidated statements of income (loss) for the years ended December 31, 2016 , 2015 and 2014 are as follows: 2016 2015 2014 ($ in thousands) Management fees - Third Point LLC $ 7,110 $ 6,362 $ 5,037 Management fees - Founders (1) 35,321 36,053 28,544 Performance fees - Third Point Advisors LLC 17,276 862 19,935 $ 59,707 $ 43,277 $ 53,516 (1) Up to December 22, 2016, KEP TP Bermuda Ltd., KIA TP Bermuda Ltd., Pine Brook LVR, L.P., P RE Opportunities Ltd. and Dowling Capital Partners I, L.P., collectively the “Founders”, received a share of the management fees in proportion to their initial investments in Third Point Reinsurance Ltd.

Deposit contracts (Tables)

Deposit contracts (Tables)	12 Months Ended
	Dec. 31, 2016
Deposit Contracts, Liabilities [Abstract]
Schedule of deposit contracts	The following table represents activity in the deposit contacts for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Balance, beginning of year $ 83,955 $ 145,430 $ 120,946 Consideration received 22,463 21,246 18,398 Net investment expense (income) allocation and change in fair value of embedded derivatives (164 ) 2,207 6,436 Payments (915 ) (84,928 ) (350 ) Foreign currency translation (434 ) — — Balance, end of year $ 104,905 $ 83,955 $ 145,430

Senior Notes payable and lett44

Senior Notes payable and letter of credit facilities (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Line of Credit Facilities	As of December 31, 2016 , the Company had entered into the following letter of credit facilities: Facility Utilized Collateral December 31, 2016 ($ in thousands) BNP Paribas $ 50,000 $ 7,976 $ 7,976 Citibank 300,000 157,070 157,070 J.P. Morgan 50,000 9 9 Lloyds Bank (1) 125,000 66,767 66,767 $ 525,000 $ 231,822 $ 231,822 (1) During the year, the Lloyds Bank facility of $100.0 million with Third Point Re was terminated and two new facilities were entered into, $75.0 million with Third Point Re and $50.0 million with Third Point Re USA.

Net investment income (Tables)

Net investment income (Tables)	12 Months Ended
	Dec. 31, 2016
Net Investment Income [Abstract]
Schedule of net investment income	Net investment income (loss) for the years ended December 31, 2016 , 2015 and 2014 consisted of the following: 2016 2015 2014 Net investment income (loss) by type ($ in thousands) Net realized gains on investments and investment derivatives $ 33,505 $ 14,398 $ 193,957 Net unrealized gains (losses) on investments and investment derivatives 70,290 (34,181 ) (83,146 ) Net gains (losses) on foreign currencies (2,557 ) 933 2,581 Dividend and interest income 77,160 45,103 31,750 Dividends paid on securities sold, not yet purchased (1,977 ) (1,279 ) (120 ) Management and performance fees (59,707 ) (43,277 ) (53,516 ) Other expenses (19,422 ) (11,305 ) (7,151 ) Net investment income (loss) on investments managed by Third Point LLC 97,292 (29,608 ) 84,355 Net gain on investment in Kiskadee Fund 1,533 1,465 — Net investment income related to Catastrophe Reinsurer and Catastrophe Fund — 69 1,227 $ 98,825 $ (28,074 ) $ 85,582 2016 2015 2014 Net investment income (loss) by asset class ($ in thousands) Net investment gains (losses) on equity securities $ 90,089 $ (31,224 ) $ 82,902 Net investment gains on debt securities 134,512 35,502 80,285 Net investment losses on other investments (27,349 ) (35,917 ) (35,491 ) Net investment gains (losses) on investment derivatives (15,479 ) 21,466 10,393 Net investment gains (losses) on securities sold, not yet purchased (5,030 ) 33,086 4,334 Net investment income (loss) on cash, including foreign exchange gains (losses) (10,173 ) 149 4,992 Net investment losses on securities purchased under an agreement to resell — (147 ) (4,099 ) Net investment losses on securities sold under an agreement to repurchase (1,970 ) (2,226 ) — Management and performance fees (59,707 ) (43,277 ) (53,516 ) Other investment expenses (6,068 ) (5,486 ) (4,218 ) $ 98,825 $ (28,074 ) $ 85,582

Other expenses (Tables)

Other expenses (Tables)	12 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
Schedule of other expenses	Other expenses for the years ended December 31, 2016 , 2015 and 2014 consisted of the following: 2016 2015 2014 ($ in thousands) Deposit liabilities investment expense (income) $ (164 ) $ 6,471 $ 4,346 Reinsurance contracts investment expense 8,811 6,764 1,061 Change in fair value of embedded derivatives in deposit and reinsurance contracts (260 ) (4,621 ) 1,988 $ 8,387 $ 8,614 $ 7,395

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Components of Income Tax Expense (Benefit), Continuing Operations	For the years ended December 31, 2016 , 2015 and 2014 , the Company recorded income tax expense (benefit), as follows: 2016 2015 2014 ($ in thousands) Income tax expense (benefit) related to U.S. and U.K. subsidiaries $ (1,232 ) $ (6,633 ) $ 24 Change in uncertain tax positions 147 (1,100 ) 2,600 Withholding taxes on certain investment transactions 6,678 4,828 3,024 Income tax expense (benefit) $ 5,593 $ (2,905 ) $ 5,648 The following table presents the Company’s current and deferred incomes taxes for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Current tax expense $ 6,825 $ 3,728 $ 5,648 Deferred tax expense (benefit) (1,232 ) (6,633 ) — Income tax expense (benefit) $ 5,593 $ (2,905 ) $ 5,648
Schedule of Income before Income Tax, Domestic and Foreign	The following is a summary of the Company’s income (loss) before income tax expense (benefit) by jurisdiction for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Bermuda $ 38,243 $ (71,416 ) $ 62,649 United States (3,687 ) (18,981 ) (255 ) United Kingdom (87 ) 53 (36 ) Income (loss) before income tax expense (benefit) $ 34,469 $ (90,344 ) $ 62,358
Schedule of Effective Income Tax Rate Reconciliation	The following table presents a reconciliation of expected income taxes to income tax expense (benefit) for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Bermuda (expected tax expense at 0%) $ — $ — $ — Foreign taxes at local expected rates: United States (1,290 ) (6,644 ) — United Kingdom (17 ) 11 24 Withholding taxes related to dividend and interest income 6,678 4,828 3,024 Uncertain tax positions 147 (1,100 ) 2,600 Non-deductible expenses and other 75 — — Income tax expense (benefit) $ 5,593 $ (2,905 ) $ 5,648
Schedule of Deferred Tax Assets and Liabilities	The following table presents the tax effects of temporary differences that give rise to the deferred tax assets and deferred tax liabilities as of December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Deferred tax assets: Discounting of loss and loss adjustment expense reserves $ 451 $ 119 $ — Unearned premiums 2,486 2,329 — Temporary differences in recognition of expenses 1,134 573 — Net operating loss carryforward 13,326 7,839 — Total deferred tax assets 17,397 10,860 — Deferred tax liabilities: Deferred acquisition costs 4,079 3,515 — Unrealized gains on investments 5,438 712 — Total deferred tax liabilities 9,517 4,227 — Net deferred tax assets $ 7,880 $ 6,633 $ —

Share capital (Tables)

Share capital (Tables)	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Schedule of Common Stock and Treasury Stock Outstanding	The following tables are a summary of the common shares issued and outstanding and shares repurchased held as treasury shares as of and for the years ended December 31, 2016 and 2015 : Common shares 2016 2015 Balance, beginning of period 105,479,341 104,473,402 Options exercised 514,059 433,279 Restricted shares granted, net of forfeitures 47,712 110,853 Performance restricted shares granted, net of forfeitures 460,187 461,807 Balance, end of period 106,501,299 105,479,341 Treasury shares 2016 2015 Balance, beginning of period — — Repurchase of common shares 644,768 — Balance, end of period 644,768 —
Schedule of summary of warrants	The following is a summary of warrants as of December 31, 2016 : Exercise price Authorized and issued Aggregated fair value of warrants ($ in thousands, except for share and per share amounts) Founders $ 10.00 4,069,868 $ 15,203 Advisor $ 10.00 581,295 2,171 4,651,163 $ 17,374

Share-based compensation (Table

Share-based compensation (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of share-based compensation expense	The following table provides the total share-based compensation expense included in general and administrative expenses during the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Management and director options $ 6,054 $ 6,264 $ 6,600 Restricted shares with service condition 1,365 1,953 2,591 Restricted shares with service and performance condition 1,519 2,654 67 $ 8,938 $ 10,871 $ 9,258
Schedule of management and director options activity	The management and director options activity for the years ended December 31, 2016 , 2015 and 2014 were as follows: Number of options Weighted average exercise price Balances as of January 1, 2014 10,981,075 $ 13.23 Granted 348,836 18.25 Forfeited (279,070 ) 13.20 Exercised (60,000 ) 10.00 Balances as of January 1, 2015 10,990,841 13.41 Forfeited (306,976 ) 14.36 Exercised (433,279 ) 10.00 Balances as of January 1, 2016 10,250,586 13.52 Forfeited (139,534 ) 18.00 Exercised (514,059 ) 10.00 Balances as of December 31, 2016 9,596,993 $ 13.64
Schedule of management and director options outstanding	The following table summarizes information about the Company’s management and director share options outstanding as of December 31, 2016 : Options outstanding Options exercisable Range of exercise prices Number of options Weighted average exercise price Remaining contractual life Number of options Weighted average exercise price $10.00 - $10.89 5,274,334 $ 10.04 5.0 years 4,660,380 $ 10.02 $15.05 - $16.89 2,196,214 $ 15.94 4.8 years 1,907,842 $ 15.96 $20.00 - $25.05 2,126,445 $ 20.23 4.7 years 1,865,981 $ 20.16 9,596,993 $ 13.64 4.9 years 8,434,203 $ 13.61
Schedule of restricted share award activity	Restricted share award activity for the restricted shares with only a service condition for the years ended December 31, 2016 , 2015 and 2014 was as follows: Number of non- vested restricted shares Weighted average grant date fair value Balance as of January 1, 2014 657,156 $ 10.30 Granted 49,684 15.39 Forfeited (17,800 ) 10.00 Vested (72,926 ) 15.56 Balance as of January 1, 2015 616,114 10.10 Granted 118,120 13.06 Forfeited (7,267 ) 13.76 Vested (425,924 ) 10.37 Balance as of January 1, 2016 301,043 11.12 Granted 47,712 11.37 Vested (47,712 ) 11.37 Balance as of December 31, 2016 301,043 $ 11.12
Schedule of restricted shares with a service and performance condition activity	Restricted share award activity for the restricted shares with a service and performance condition for the years ended December 31, 2016 , 2015 and 2014 was as follows: Number of non- vested restricted shares Number of non- vested restricted shares probable of vesting Weighted average grant date fair value Balance as of January 1, 2014 — — $ — Granted 459,746 306,496 14.60 Balance as of January 1, 2015 459,746 306,496 14.60 Granted 514,276 342,846 14.00 Forfeited (52,469 ) (34,980 ) 14.29 Change in estimated restricted shares considered probable of vesting n/a (78,128 ) 14.60 Balance as of January 1, 2016 921,553 536,234 14.24 Granted 653,958 435,974 11.40 Forfeited (193,771 ) (119,009 ) 13.16 Change in estimated restricted shares considered probable of vesting n/a (275,713 ) 13.06 Balance as of December 31, 2016 1,381,740 577,486 $ 12.91

Non-controlling interests (Tabl

Non-controlling interests (Tables)	12 Months Ended
	Dec. 31, 2016
Noncontrolling Interest [Abstract]
Schedule of noncontrolling interests	Non-controlling interests as of December 31, 2016 and 2015 were $35.7 million and $16.2 million , respectively. Income (loss) attributable to non-controlling interests for the years ended December 31, 2016 , 2015 and 2014 was: 2016 2015 2014 ($ in thousands) Catastrophe Fund $ — $ (121 ) $ 4,748 Catastrophe Fund Manager — 19 (23 ) Joint Venture - Third Point Advisors LLC share 1,241 53 1,590 $ 1,241 $ (49 ) $ 6,315

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule of reconciliation of basic and diluted weighted average shares outstanding	The following sets forth the computation of basic and diluted earnings (loss) per share for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 Weighted-average number of common shares outstanding: ($ in thousands, except share and per share amounts) Basic number of common shares outstanding 104,060,052 104,003,820 103,287,693 Dilutive effect of options 633,955 — 1,468,521 Dilutive effect of warrants 709,499 — 1,634,845 Dilutive effect of restricted shares with service and performance condition 160,278 — — Diluted number of common shares outstanding 105,563,784 104,003,820 106,391,059 Basic earnings (loss) per common share: Net income (loss) $ 27,635 $ (87,390 ) $ 50,395 Income allocated to participating shares (88 ) — (328 ) Net income (loss) available to common shareholders $ 27,547 $ (87,390 ) $ 50,067 Basic earnings (loss) per common share $ 0.26 $ (0.84 ) $ 0.48 Diluted earnings (loss) per common share Net income (loss) $ 27,635 $ (87,390 ) $ 50,395 Income allocated to participating shares (87 ) — (319 ) Net income (loss) available to common shareholders $ 27,548 $ (87,390 ) $ 50,076 Diluted earnings (loss) per common share $ 0.26 $ (0.84 ) $ 0.47

Financial instruments with of52

Financial instruments with off-balance sheet risk or concentrations of credit risk (Tables)	12 Months Ended
	Dec. 31, 2016
Guarantees [Abstract]
Schedule of certain information related to the Company’s written credit derivatives	The following table sets forth certain information related to the Company’s written credit derivatives as of December 31, 2016 and 2015 : December 31, 2016 Maximum Payout/ Notional Amount (by period of expiration) Fair Value of Written Credit Derivatives (2) Credit Spreads on 0-5 years 5 years or Total Written Asset Liability Net Asset/(Liability) ($ in thousands) Single name (0 - 250) $ — $ 3,943 $ 3,943 $ — $ 1,952 $ (1,952 ) $ — $ 3,943 $ 3,943 $ — $ 1,952 $ (1,952 ) December 31, 2015 Maximum Payout/ Notional Amount (by period of expiration) Fair Value of Written Credit Derivatives (2) Credit Spreads on 0-5 years 5 years or Total Written Asset Liability Net Asset/(Liability) ($ in thousands) Single name (0 - 250) $ — $ 2,878 $ 2,878 $ — $ 1,480 $ (1,480 ) Single name (251-500) 3,558 — 3,558 — 574 (574 ) $ 3,558 $ 2,878 $ 6,436 $ — $ 2,054 $ (2,054 ) (1) As of December 31, 2016 and 2015 , the Company did not hold any offsetting buy protection credit derivatives with the same underlying reference obligation. (2) Fair value amounts of derivative contracts are shown on a gross basis prior to cash collateral or counterparty netting.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum rental commitments under lease	Future minimum rental commitments as of December 31, 2016 under these leases are expected to be as follows: ($ in thousands) 2017 $ 864 2018 881 2019 898 2020 860 2021 42 Thereafter — $ 3,545
Schedule of future minimum management fee commitments under the existing lease	Future minimum management fee commitments as of December 31, 2016 under the existing agreement is expected to be as follows: ($ in thousands) 2017 $ 709 2018 736 2019 763 2020 792 2021 548 $ 3,548

Segment reporting (Tables)

Segment reporting (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of operating segments	The following is a summary of the Company’s operating segment results for the years ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, 2016 Property and Casualty Reinsurance Catastrophe Risk Management Corporate Total Revenues ($ in thousands) Gross premiums written $ 617,374 $ — $ — $ 617,374 Gross premiums ceded (2,325 ) — — (2,325 ) Net premiums written 615,049 — — 615,049 Change in net unearned premium reserves (24,859 ) — — (24,859 ) Net premiums earned 590,190 — — 590,190 Expenses Loss and loss adjustment expenses incurred, net 395,932 — — 395,932 Acquisition costs, net 222,150 — — 222,150 General and administrative expenses 22,160 — 17,207 39,367 Total expenses 640,242 — 17,207 657,449 Net underwriting loss (50,052 ) n/a n/a n/a Net investment inco me 16,931 — 81,894 98,825 Other expenses (8,387 ) — — (8,387 ) Interest expense — — (8,231 ) (8,231 ) Foreign exchange gains — — 19,521 19,521 Income tax expense — — (5,593 ) (5,593 ) Segment income (loss) including non-controlling interests (41,508 ) — 70,384 28,876 Segment income attributable to non-controlling interes ts — — (1,241 ) (1,241 ) Segment income (loss) $ (41,508 ) $ — $ 69,143 $ 27,635 Property and Casualty Reinsurance - Underwriting Ratios (1): Loss ratio 67.1 % Acquisition cost ratio 37.6 % Composite ratio 104.7 % General and administrative expense ratio 3.8 % Combined ratio 108.5 % (1) Underwriting ratios are calculated by dividing the related expense by net premiums earned. Year Ended December 31, 2015 Property and Casualty Reinsurance Catastrophe Risk Management Corporate Total Revenues ($ in thousands) Gross premiums written $ 702,458 $ (44 ) $ — $ 702,414 Gross premiums ceded (1,876 ) — — (1,876 ) Net premiums written 700,582 (44 ) — 700,538 Change in net unearned premium reserves (97,766 ) 52 — (97,714 ) Net premiums earned 602,816 8 — 602,824 Expenses Loss and loss adjustment expenses incurred, net 415,041 150 — 415,191 Acquisition costs, net 191,217 (1 ) — 191,216 General and administrative expenses 24,815 447 20,771 46,033 Total expenses 631,073 596 20,771 652,440 Net underwriting loss (28,257 ) n/a n/a n/a Net investment income (loss) (10,810 ) 69 (17,333 ) (28,074 ) Other expenses (8,614 ) — — (8,614 ) Interest expense — — (7,236 ) (7,236 ) Foreign exchange gains — — 3,196 3,196 Income tax benefit — — 2,905 2,905 Segment loss including non-controlling interests (47,681 ) (519 ) (39,239 ) (87,439 ) Segment (income) loss attributable to non-controlling interests — 102 (53 ) 49 Segment loss $ (47,681 ) $ (417 ) $ (39,292 ) $ (87,390 ) Property and Casualty Reinsurance - Underwriting Ratios (1): Loss ratio 68.9 % Acquisition cost ratio 31.7 % Composite ratio 100.6 % General and administrative expense ratio 4.1 % Combined ratio 104.7 % (1) Underwriting ratios are calculated by dividing the related expense by net premiums earned. Year Ended December 31, 2014 Property and Casualty Reinsurance Catastrophe Risk Management Corporate Total Revenues ($ in thousands) Gross premiums written $ 601,305 $ 11,995 $ — $ 613,300 Gross premiums ceded (150 ) — — (150 ) Net premiums written 601,155 11,995 — 613,150 Change in net unearned premium reserves (168,858 ) 240 — (168,618 ) Net premiums earned 432,297 12,235 — 444,532 Expenses Loss and loss adjustment expenses incurred, net 283,180 (33 ) — 283,147 Acquisition costs, net 136,154 1,052 — 137,206 General and administrative expenses 22,515 3,113 14,380 40,008 Total expenses 441,849 4,132 14,380 460,361 Net underwriting loss (9,552 ) n/a n/a n/a Net investment income 11,305 1,227 73,050 85,582 Other expenses (7,395 ) — — (7,395 ) Income tax expense — — (5,648 ) (5,648 ) Segment income (loss) including non-controlling in terests (5,642 ) 9,330 53,022 56,710 Segment income attributable to non-controlling interests — (4,725 ) (1,590 ) (6,315 ) Segment income (loss) $ (5,642 ) $ 4,605 $ 51,432 $ 50,395 Property and Casualty Reinsurance - Underwriting Ratios (1): Loss ratio 65.5 % Acquisition cost ratio 31.5 % Composite ratio 97.0 % General and administrative expense ratio 5.2 % Combined ratio 102.2 % (1) Underwriting ratios are calculated by dividing the related expense by net premiums earned.
Schedules of number of contracts that individually contributed more than 10% of total gross premiums written	The following table lists the number of contracts that individually contributed more than 10% of total gross premiums written for the years ended December 31, 2016 , 2015 and 2014 as a percentage of total gross premiums written in the relevant year: 2016 2015 2014 Largest contract 16.1 % 16.1 % 20.4 % Second largest contract n/a 13.0 % 17.1 % Total for contracts contributing greater than 10% each 16.1 % 29.1 % 37.5 % Total for contracts contributing less than 10% each 83.9 % 70.9 % 62.5 % 100.0 % 100.0 % 100.0 % The following table lists counterparties with whom the Company has reinsurance balances receivable representing more than 10% of the Company’s total reinsurance balances receivable as of December 31, 2016 and 2015 : December 31, 2016 December 31, 2015 ($ in thousands) Counterparty 1 $ 82,162 21.5 % $ 87,044 29.6 % Other counterparties representing less than 10% each 299,789 78.5 % 207,269 70.4 % Reinsurance balances receivable $ 381,951 100.0 % $ 294,313 100.0 %
Schedule of breakdown of the Company’s gross premiums written by line of business	The following table provides a breakdown of the Company’s gross premiums written by line of business for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Property $ 98,334 15.9 % $ 114,215 16.2 % $ 106,834 17.4 % Casualty 213,050 34.5 % 327,064 46.6 % 266,763 43.5 % Specialty 305,990 49.6 % 261,179 37.2 % 227,708 37.1 % Total property and casualty reinsurance 617,374 100.0 % 702,458 100.0 % 601,305 98.0 % Catastrophe risk management — — % (44 ) — % 11,995 2.0 % $ 617,374 100.0 % $ 702,414 100.0 % $ 613,300 100.0 % The following table provides a breakdown of the Company’s gross premiums written by prospective and retroactive reinsurance contracts for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Prospective $ 617,374 100.0 % $ 594,350 84.6 % $ 530,169 86.4 % Retroactive (1) — — % 108,064 15.4 % 83,131 13.6 % $ 617,374 100.0 % $ 702,414 100.0 % $ 613,300 100.0 % (1) Includes all retroactive exposure in reinsurance contracts.
Schedule of breakdown of the Company’s gross premiums written from brokers	the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Largest broker $ 240,172 38.9 % $ 198,209 28.2 % $ 199,563 32.5 % Second largest broker 185,638 30.1 % 163,832 23.3 % 110,063 17.9 % Third largest broker 97,148 15.7 % 91,554 13.0 % 80,535 13.1 % Fourth largest broker n/a n/a 73,499 10.5 % 61,777 10.1 % Other 94,416 15.3 % 175,320 25.0 % 161,362 26.4 % $ 617,374 100.0 % $ 702,414 100.0 % $ 613,300 100.0 %
Schedule of breakdown of the Company’s gross premiums written by domicile of the ceding companies	The following table provides a breakdown of the Company’s gross premiums written by domicile of the ceding companies for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) United States $ 332,849 53.9 % $ 283,626 40.4 % $ 339,061 55.3 % United Kingdom 187,625 30.4 % 290,710 41.4 % 176,522 28.8 % Bermuda 96,900 15.7 % 128,078 18.2 % 97,717 15.9 % $ 617,374 100.0 % $ 702,414 100.0 % $ 613,300 100.0 %

Statutory Requirements (Tables)

Statutory Requirements (Tables)	12 Months Ended
	Dec. 31, 2016
Statutory Requirements [Abstract]
Schedule of statutory requirements	The following is a summary of actual and required statutory capital and surplus of Third Point Re and Third Point Re USA as of December 31, 2016 and 2015 : December 31, 2016 December 31, 2015 ($ in thousands) Actual statutory capital and surplus Third Point Re $ 1,259,876 $ 1,044,340 Third Point Re USA 282,552 246,948 Required statutory capital and surplus Third Point Re 642,349 612,617 Third Point Re USA $ 89,557 $ 83,617 The following is a summary of the statutory net income (loss) for Third Point Re and Third Point Re USA for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 ($ in thousands) Third Point Re $ 35,096 $ (68,188 ) $ 56,686 Third Point Re USA $ 2,701 $ (7,510 ) n/a

Supplemental guarantor inform56

Supplemental guarantor information (Tables)	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheet	CONSOLIDATING BALANCE SHEET As of December 31, 2016 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Assets Equity securities $ — $ — $ 1,506,854 $ — $ 1,506,854 Debt securities — — 1,057,957 — 1,057,957 Other investments — — 82,701 — 82,701 Total investments in securities — — 2,647,512 — 2,647,512 Cash and cash equivalents 1,629 79 8,243 — 9,951 Restricted cash and cash equivalents — — 298,940 — 298,940 Investment in subsidiaries 1,413,078 269,622 165,324 (1,848,024 ) — Due from brokers — — 284,591 — 284,591 Derivative assets, at fair value — — 27,432 — 27,432 Interest and dividends receivable — — 6,505 — 6,505 Reinsurance balances receivable — — 381,951 — 381,951 Deferred acquisition costs, net — — 221,618 — 221,618 Amounts due from (to) affiliates (142 ) (8,394 ) 8,536 — — Other assets 637 5,507 11,000 — 17,144 Total assets $ 1,415,202 $ 266,814 $ 4,061,652 $ (1,848,024 ) $ 3,895,644 Liabilities and shareholders’ equity Liabilities Accounts payable and accrued expenses $ 1,151 $ 40 $ 9,130 $ — $ 10,321 Reinsurance balances payable — — 43,171 — 43,171 Deposit liabilities — — 104,905 — 104,905 Unearned premium reserves — — 557,076 — 557,076 Loss and loss adjustment expense reserves — — 605,129 — 605,129 Securities sold, not yet purchased, at fair value — — 92,668 — 92,668 Due to brokers — — 899,601 — 899,601 Derivative liabilities, at fair value — — 16,050 — 16,050 Interest and dividends payable — 3,057 386 — 3,443 Senior notes payable, net of deferred costs — 113,555 — — 113,555 Total liabilities 1,151 116,652 2,328,116 — 2,445,919 Shareholders' equity Common shares 10,650 — 1,250 (1,250 ) 10,650 Treasury shares (7,389 ) — — — (7,389 ) Additional paid-in capital 1,094,568 165,456 1,528,827 (1,694,283 ) 1,094,568 Retained earnings (deficit) 316,222 (15,294 ) 167,785 (152,491 ) 316,222 Shareholders’ equity attributable to shareholders 1,414,051 150,162 1,697,862 (1,848,024 ) 1,414,051 Non-controlling interests — — 35,674 — 35,674 Total shareholders’ equity 1,414,051 150,162 1,733,536 (1,848,024 ) 1,449,725 Total liabilities and shareholders’ equity $ 1,415,202 $ 266,814 $ 4,061,652 $ (1,848,024 ) $ 3,895,644 CONSOLIDATING BALANCE SHEET As of December 31, 2015 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Assets Equity securities $ — $ — $ 1,231,077 $ — $ 1,231,077 Debt securities — — 1,034,247 — 1,034,247 Other investments — — 51,920 — 51,920 Total investments in securities — — 2,317,244 — 2,317,244 Cash and cash equivalents 308 5 20,094 — 20,407 Restricted cash and cash equivalents — — 330,915 — 330,915 Investment in subsidiaries 1,382,336 261,083 159,593 (1,803,012 ) — Due from brokers — — 326,971 — 326,971 Derivative assets, at fair value — — 35,337 — 35,337 Interest and dividends receivable — — 10,687 — 10,687 Reinsurance balances receivable — — 294,313 — 294,313 Deferred acquisition costs, net — — 197,093 — 197,093 Amounts due from (to) affiliates (346 ) (230 ) 576 — — Other assets 564 2,613 8,964 — 12,141 Total assets $ 1,382,862 $ 263,471 $ 3,701,787 $ (1,803,012 ) $ 3,545,108 Liabilities and shareholders’ equity Liabilities Accounts payable and accrued expenses $ 3,136 $ 40 $ 8,790 $ — $ 11,966 Reinsurance balances payable — — 24,119 — 24,119 Deposit liabilities — — 83,955 — 83,955 Unearned premium reserves — — 531,710 — 531,710 Loss and loss adjustment expense reserves — — 466,047 — 466,047 Securities sold, not yet purchased, at fair value — — 314,353 — 314,353 Securities sold under an agreement to repurchase — — 8,944 — 8,944 Due to brokers — — 574,962 — 574,962 Derivative liabilities, at fair value — — 15,392 — 15,392 Interest and dividends payable — 3,055 1,345 — 4,400 Senior notes payable, net of deferred costs — 113,377 — — 113,377 Total liabilities 3,136 116,472 2,029,617 — 2,149,225 Shareholders’ equity Common shares 10,548 — 1,250 (1,250 ) 10,548 Additional paid-in capital 1,080,591 159,618 1,509,594 (1,669,212 ) 1,080,591 Retained earnings (deficit) 288,587 (12,619 ) 145,169 (132,550 ) 288,587 Shareholders’ equity attributable to shareholders 1,379,726 146,999 1,656,013 (1,803,012 ) 1,379,726 Non-controlling interests — — 16,157 — 16,157 Total shareholders’ equity 1,379,726 146,999 1,672,170 (1,803,012 ) 1,395,883 Total liabilities and shareholders’ equity $ 1,382,862 $ 263,471 $ 3,701,787 $ (1,803,012 ) $ 3,545,108
Condensed Consolidating Statement of Income	CONSOLIDATING STATEMENT OF INCOME (LOSS) Year Ended December 31, 2016 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 617,374 $ — $ 617,374 Gross premiums ceded — — (2,325 ) — (2,325 ) Net premiums written — — 615,049 — 615,049 Change in net unearned premium reserves — — (24,859 ) — (24,859 ) Net premiums earned — — 590,190 — 590,190 Net investment income — — 98,825 — 98,825 Equity in earnings (losses) of s ubsidiaries 32,347 2,701 (107 ) (34,941 ) — Total revenues 32,347 2,701 688,908 (34,941 ) 689,015 Expenses Loss and loss adjustment expenses incurred, net — — 395,932 — 395,932 Acquisition costs, net — — 222,150 — 222,150 General and administrative expenses 4,712 40 34,615 — 39,367 Other expenses — — 8,387 — 8,387 Interest expense — 8,231 — — 8,231 Foreign exchange gains — — (19,521 ) — (19,521 ) Total expenses 4,712 8,271 641,563 — 654,546 Income (loss) before income tax (expense) benefit 27,635 (5,570 ) 47,345 (34,941 ) 34,469 Income tax (expense) benefit — 2,895 (8,488 ) — (5,593 ) Income (loss) including non-controlling interests 27,635 (2,675 ) 38,857 (34,941 ) 28,876 Income attributable to non-controlling interests — — (1,241 ) — (1,241 ) Net income (loss) $ 27,635 $ (2,675 ) $ 37,616 $ (34,941 ) $ 27,635 CONSOLIDATING STATEMENT OF LOSS Year Ended December 31, 2015 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 702,414 $ — $ 702,414 Gross premiums ceded — — (1,876 ) — (1,876 ) Net premiums written — — 700,538 — 700,538 Change in net unearned premium reserves — — (97,714 ) — (97,714 ) Net premiums earned — — 602,824 — 602,824 Net investment loss — — (28,074 ) — (28,074 ) Equity in earnings of subsidiaries (79,053 ) (7,510 ) (25 ) 86,588 — Total revenues (79,053 ) (7,510 ) 574,725 86,588 574,750 Expenses Loss and loss adjustment expenses incurred, net — — 415,191 — 415,191 Acquisition costs, net — — 191,216 — 191,216 General and administrative expenses 8,337 231 37,465 — 46,033 Other expenses — — 8,614 — 8,614 Interest expense — 7,236 — — 7,236 Foreign exchange gains — — (3,196 ) — (3,196 ) Total expenses 8,337 7,467 649,290 — 665,094 Loss before income tax benefit (87,390 ) (14,977 ) (74,565 ) 86,588 (90,344 ) Income tax benefit — 2,613 292 — 2,905 Loss including non-controlling interests (87,390 ) (12,364 ) (74,273 ) 86,588 (87,439 ) Loss attributable to non-controlling interests — — 49 — 49 Net loss $ (87,390 ) $ (12,364 ) $ (74,224 ) $ 86,588 $ (87,390 ) CONSOLIDATING STATEMENT OF INCOME (LOSS) Year Ended December 31, 2014 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 613,300 $ — $ 613,300 Gross premiums ceded — — (150 ) — (150 ) Net premiums written — — 613,150 — 613,150 Change in net unearned premium reserves — — (168,618 ) — (168,618 ) Net premiums earned — — 444,532 — 444,532 Net investment income — — 85,582 — 85,582 Equity in earnings of subsidiaries 56,238 — — (56,238 ) — Total revenues 56,238 — 530,114 (56,238 ) 530,114 Expenses Loss and loss adjustment expenses incurred, net — — 283,147 — 283,147 Acquisition costs, net — — 137,206 — 137,206 General and administrative expenses 5,843 255 33,910 — 40,008 Other expenses — — 7,395 — 7,395 Total expenses 5,843 255 461,658 — 467,756 Income (loss) before income tax expense 50,395 (255 ) 68,456 (56,238 ) 62,358 Income tax expense — — (5,648 ) — (5,648 ) Income (loss) including non-controlling interests 50,395 (255 ) 62,808 (56,238 ) 56,710 Income attributable to non-controlling interests — — (6,315 ) — (6,315 ) Net income (loss) $ 50,395 $ (255 ) $ 56,493 $ (56,238 ) $ 50,395
Condensed Consolidating Statement of Cash Flows	CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2016 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Income (loss) including non-controlling interests $ 27,635 $ (2,675 ) $ 38,857 $ (34,941 ) $ 28,876 Adjustments to reconcile income (loss) including non-controlling interests to net cash provided by (used in) operating activities : Equity in (earnings) losses of subsidiaries (32,347 ) (2,701 ) 107 34,941 — Share compensation expense 543 8,395 — 8,938 Net interest income on deposit liabilities (164 ) — (164 ) Net unrealized gain on investments and derivatives — — (72,083 ) — (72,083 ) Net realized gain on investments and derivatives — — (33,179 ) — (33,179 ) Net foreign exchange gains — — (19,521 ) — (19,521 ) Amortization of premium and accretion of discount, net — 178 4,940 — 5,118 Changes in assets and liabilities: Reinsurance balances receivable — — (86,612 ) — (86,612 ) Deferred acquisition costs, net — — (24,525 ) — (24,525 ) Other assets (73 ) (2,894 ) (2,036 ) — (5,003 ) Interest and dividends receivable, net — 2 3,223 — 3,225 Unearned premium reserves — — 25,366 — 25,366 Loss and loss adjustment expense reserves — — 156,644 — 156,644 Accounts payable and accrued expenses (1,985 ) — (110 ) — (2,095 ) Reinsurance balances payable — — 19,786 — 19,786 Amounts due from (to) affiliates (204 ) 8,164 (7,960 ) — — Net cash provided by (used in) operating activities (6,431 ) 74 11,128 — 4,771 Investing activities Purchases of investments — — (3,729,944 ) — (3,729,944 ) Proceeds from sales of investments — — 3,504,598 — 3,504,598 Purchases of investments to cover short sales — — (1,264,404 ) — (1,264,404 ) Proceeds from short sales of investments — — 1,046,422 — 1,046,422 Change in due to/from brokers, net — — 367,019 — 367,019 Increase in securities sold under an agreement to repurchase — — (8,944 ) — (8,944 ) Change in restricted cash and cash equivalents — — 31,975 — 31,975 Contributed capital to subsidiaries (5,000 ) 5,000 — — — Contributed capital from parent and/or subsidiaries — (5,000 ) 5,000 — — Net cash provided by (used in) investing activities (5,000 ) — (48,278 ) — (53,278 ) Financing activities Proceeds from issuance of common shares, net of costs 5,141 — — — 5,141 Purchases of common shares under share repurchase program (7,389 ) — — — (7,389 ) Increase in deposit liabilities, net — — 22,023 — 22,023 Non-controlling interest in investment affiliate, net — — 18,276 — 18,276 Dividend received by (paid to) parent 15,000 — (15,000 ) — — Net cash provided by financing activities 12,752 — 25,299 — 38,051 Net increase (decrease) in cash and cash equivalents 1,321 74 (11,851 ) — (10,456 ) Cash and cash equivalents at beginning of year 308 5 20,094 — 20,407 Cash and cash equivalents at end of year $ 1,629 $ 79 $ 8,243 $ — $ 9,951 CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2015 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Loss including non-controlling interests $ (87,390 ) $ (12,364 ) $ (74,273 ) $ 86,588 $ (87,439 ) Adjustments to reconcile loss including non-controlling interests to net cash provided by (used in) operating activities Equity in earnings of subsidiaries 79,053 7,510 25 (86,588 ) — Share compensation expense 542 — 10,329 — 10,871 Net interest expense on deposit liabilities — — 6,471 — 6,471 Net unrealized loss on investments and derivatives — — 32,354 — 32,354 Net realized gain on investments and derivatives — — (16,655 ) — (16,655 ) Foreign exchange gains included in net loss — — (3,196 ) — (3,196 ) Amortization of premium and accretion of discount, net — 157 167 — 324 Changes in assets and liabilities: Reinsurance balances receivable — — 8,768 — 8,768 Deferred acquisition costs, net — — (41,192 ) — (41,192 ) Other assets 36 (1,947 ) (5,904 ) — (7,815 ) Interest and dividends receivable, net — 3,055 (7,437 ) — (4,382 ) Unearned premium reserves — — 97,901 — 97,901 Loss and loss adjustment expense reserves — — 192,433 — 192,433 Accounts payable and accrued expenses 1,910 (478 ) 449 — 1,881 Reinsurance balances payable — — (2,548 ) — (2,548 ) Amounts due from (to) affiliates 1,685 (173 ) (1,512 ) — — Net cash provided by (used in) operating activities (4,164 ) (4,240 ) 196,180 — 187,776 Investing activities Purchases of investments — — (3,360,626 ) — (3,360,626 ) Proceeds from sales of investments — — 2,829,523 — 2,829,523 Purchases of investments to cover short sales — — (543,936 ) — (543,936 ) Proceeds from short sales of investments — — 792,344 — 792,344 Change in due to/from brokers, net — — (6,377 ) — (6,377 ) Decrease in securities purchased under an agreement to sell — — 29,852 — 29,852 Increase in securities sold under an agreement to repurchase — — 8,944 — 8,944 Change in restricted cash and cash equivalents — — 86,392 — 86,392 Contributed capital (to) from subsidiaries (158,000 ) (266,975 ) (25 ) 425,000 — Contributed capital from parent — 158,000 267,000 (425,000 ) — Net cash provided by (used in) investing activities (158,000 ) (108,975 ) 103,091 — (163,884 ) Financing activities Proceeds from issuance of common shares, net of costs 4,332 — — — 4,332 Proceeds from issuance of senior notes payable — 113,220 — — 113,220 Increase in deposit liabilities — — (65,842 ) — (65,842 ) Non-controlling interest in investment affiliate, net — — (24,137 ) — (24,137 ) Non-controlling interest in Catastrophe Fund — — (60,032 ) — (60,032 ) Non-controlling interest in Catastrophe Manager — — 240 — 240 Dividend received by (paid to) parent 158,000 — (158,000 ) — — Net cash provided by (used in) financing activities 162,332 113,220 (307,771 ) — (32,219 ) Net increase in cash and cash equivalents 168 5 (8,500 ) — (8,327 ) Cash and cash equivalents at beginning of year 140 — 28,594 — 28,734 Cash and cash equivalents at end of year $ 308 $ 5 $ 20,094 $ — $ 20,407 CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2014 (expressed in thousands of U.S. dollars) Third Point Reinsurance Ltd. TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Income including non-controlling interests $ 50,395 $ (255 ) $ 62,808 $ (56,238 ) $ 56,710 Adjustments to reconcile income including non-controlling interests to net cash provided by (used in) operating activities Equity in earnings of subsidiaries (56,238 ) — — 56,238 — Share compensation expense 1,080 — 8,178 — 9,258 Interest expense on deposit liabilities — — 4,346 — 4,346 Net unrealized loss on investments and derivatives — — 85,057 — 85,057 Net realized gain on investments and derivatives — — (193,957 ) — (193,957 ) Amortization of premium and accretion of discount, net — — (1,044 ) — (1,044 ) Changes in assets and liabilities: Reinsurance balances receivable — — (111,886 ) — (111,886 ) Deferred acquisition costs, net — — (64,708 ) — (64,708 ) Other assets 120 (666 ) 8,895 — 8,349 Interest and dividends receivable, net — — (38 ) — (38 ) Unearned premium reserves — — 168,622 — 168,622 Loss and loss adjustment expense reserves — — 143,031 — 143,031 Accounts payable and accrued expenses 984 518 (873 ) — 629 Reinsurance balances payable — — 18,061 — 18,061 Amounts due from (to) affiliates (5,094 ) 403 4,691 — — Net cash (used in) provided by operating activities (8,753 ) — 131,183 — 122,430 Investing activities Purchases of investments — — (3,114,906 ) — (3,114,906 ) Proceeds from sales of investments — — 2,857,404 — 2,857,404 Purchases of investments to cover short sales — — (232,568 ) — (232,568 ) Proceeds from short sales of investments — — 278,569 — 278,569 Change in due to/from brokers, net — — 307,884 — 307,884 Increase in securities purchased under agreement to sell — — 8,294 — 8,294 Change in restricted cash and cash equivalents — — (223,730 ) — (223,730 ) Net cash used in investing activities — — (119,053 ) — (119,053 ) Financing activities Proceeds from issuance of common shares, net of costs 599 — — — 599 Increase in deposit liabilities — — 18,048 — 18,048 Non-controlling interest in investment affiliate, net — — (31,066 ) — (31,066 ) Non-controlling interest in Catastrophe Fund — — 6,151 — 6,151 Dividend received by (paid to) parent 8,000 — (8,000 ) — — Net cash provided by (used in) financing activities 8,599 — (14,867 ) — (6,268 ) Net decrease in cash and cash equivalents (154 ) — (2,737 ) — (2,891 ) Cash and cash equivalents at beginning of year 294 — 31,331 — 31,625 Cash and cash equivalents at end of year $ 140 $ — $ 28,594 $ — $ 28,734

Quarterly Financial Results (Ta

Quarterly Financial Results (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial results	Three months ended December 31, September 30, June 30, March 31, ($ in thousands, except per share and share amounts) Revenues Gross premiums written $ 80,779 $ 142,573 $ 196,866 $ 197,156 Gross premiums ceded 27 (927 ) (1,425 ) — Net premiums written 80,806 141,646 195,441 197,156 Change in net unearned premium reserves 111,277 (13,463 ) (62,319 ) (60,354 ) Net premiums earned 192,083 128,183 133,122 136,802 Net investment income (loss) (35,767 ) 88,356 86,346 (40,110 ) Total revenues 156,316 216,539 219,468 96,692 Expenses Loss and loss adjustment expenses incurred, net 122,110 85,015 104,131 84,676 Acquisition costs, net 76,854 45,127 48,482 51,687 General and administrative expenses 5,482 12,354 10,243 11,288 Other expenses 2,161 347 3,173 2,706 Interest expense 2,068 2,069 2,046 2,048 Foreign exchange gains (5,162 ) (3,905 ) (8,068 ) (2,386 ) Total expenses 203,513 141,007 160,007 150,019 Income (loss) before income tax (expense) benefit (47,197 ) 75,532 59,461 (53,327 ) Income tax (expense) benefit 272 (2,484 ) (5,310 ) 1,929 Income (loss) including non-controlling interests (46,925 ) 73,048 54,151 (51,398 ) (Income) loss attributable to non-controlling interests 232 (967 ) (775 ) 269 Net income (loss) $ (46,693 ) $ 72,081 $ 53,376 $ (51,129 ) Earnings (loss) per share Basic $ (0.45 ) $ 0.69 $ 0.51 $ (0.49 ) Diluted $ (0.45 ) $ 0.68 $ 0.51 $ (0.49 ) Weighted average number of ordinary shares used in the determination of earnings (loss) per share Basic 104,072,283 103,780,196 104,132,797 104,257,874 Diluted 104,072,283 105,795,313 105,233,921 104,257,874 Three months ended December 31, September 30, June 30, March 31, ($ in thousands, except per share and share amounts) Revenues Gross premiums written $ 99,155 $ 205,583 $ 184,342 $ 213,334 Gross premiums ceded (24 ) (375 ) (1,425 ) (52 ) Net premiums written 99,131 205,208 182,917 213,282 Change in net unearned premium reserves 35,235 3,597 (62,339 ) (74,207 ) Net premiums earned 134,366 208,805 120,578 139,075 Net investment income (loss) 61,553 (193,156 ) 38,611 64,918 Total revenues 195,919 15,649 159,189 203,993 Expenses Loss and loss adjustment expenses incurred, net 98,855 158,537 76,053 81,746 Acquisition costs, net 38,552 50,509 47,498 54,657 General and administrative expenses 10,236 9,822 14,267 11,708 Other expenses 2,928 670 2,315 2,701 Interest expense 2,074 2,074 2,052 1,036 Foreign exchange (gains) losses (2,396 ) (746 ) 139 (193 ) Total expenses 150,249 220,866 142,324 151,655 Income (loss) before income tax (expense) benefit 45,670 (205,217 ) 16,865 52,338 Income tax (expense) benefit (2,863 ) 7,781 (708 ) (1,305 ) Income (loss) including non-controlling interests 42,807 (197,436 ) 16,157 51,033 (Income) loss attributable to non-controlling interests (614 ) 1,721 (495 ) (563 ) Net income (loss) $ 42,193 $ (195,715 ) $ 15,662 $ 50,470 Earnings (loss) per share Basic $ 0.40 $ (1.88 ) $ 0.15 $ 0.48 Diluted $ 0.39 $ (1.88 ) $ 0.15 $ 0.47 Weighted average number of ordinary shares used in the determination of earnings (loss) per share Basic 104,217,321 104,117,448 103,927,761 103,753,065 Diluted 106,635,451 104,117,448 106,696,874 106,144,183

Organization (Details)

Organization (Details) - IPO $ / shares in Units, $ in Millions	Aug. 20, 2013USD ($)$ / sharesshares
Organization [Line Items]
Issuance of common shares (in shares) | shares	24,832,484
Sale of stock, price per share (in dollars per share) | $ / shares	$ 12.50
Sale of stock, net proceeds | $	$ 286

- Accounting Policies (Details)

- Accounting Policies (Details)	3 Months Ended								12 Months Ended
	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Accounting Policies [Abstract]
Premium deficiency	$ 0								$ 0
Income Tax Contingency [Line Items]
Income tax (expense) benefit	$ 272,000	$ (2,484,000)	$ (5,310,000)	$ 1,929,000	$ (2,863,000)	$ 7,781,000	$ (708,000)	$ (1,305,000)	$ (5,593,000)	$ 2,905,000	$ (5,648,000)
Number of operating segments | segment									1
Withholding taxes on certain investment transactions
Income Tax Contingency [Line Items]
Income tax (expense) benefit									$ (6,678,000)	$ (4,828,000)	$ (3,024,000)

Restricted cash and cash equi60

Restricted cash and cash equivalents and investments (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Restricted Cash and Cash Equivalents and Investments Items [Line Items]
Restricted cash and cash equivalents	$ 298,940	$ 330,915
Restricted investments securing other reinsurance contracts	427,308	292,111
Total restricted cash and cash equivalents and restricted investments	726,248	623,026
Restricted cash securing letter of credit facilities
Restricted Cash and Cash Equivalents and Investments Items [Line Items]
Restricted cash and cash equivalents	231,822	270,755
Restricted cash securing other reinsurance contracts
Restricted Cash and Cash Equivalents and Investments Items [Line Items]
Restricted cash and cash equivalents	$ 67,118	$ 60,160

Investments - Schedule of the s

Investments - Schedule of the separate account managed by TP LLC (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Total assets	$ 3,237,312	$ 2,994,746
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	1,045,753	931,923
Total net investments managed by Third Point LLC	2,191,559	2,062,823
Total investments in securities
Assets
Total assets	2,619,839	2,290,779
Cash and cash equivalents
Assets
Total assets	5	57
Restricted cash and cash equivalents
Assets
Total assets	298,940	330,915
Due from brokers
Assets
Total assets	284,591	326,971
Derivative assets
Assets
Total assets	27,432	35,337
Interest and dividends receivable
Assets
Total assets	6,505	10,687
Accounts payable and accrued expenses
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	1,374	770
Securities sold, not yet purchased
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	92,668	314,353
Securities sold under an agreement to repurchase
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	0	8,944
Due to brokers
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	899,601	574,962
Derivative liabilities
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	16,050	15,392
Interest and dividends payable
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	386	1,345
Non-controlling interest
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	$ 35,674	$ 16,157

Investments - Schedule of the l

Investments - Schedule of the largest concentration of asset-backed securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Asset-backed securities	$ 254,852	$ 494,723
Portfolio Concentration Risk | Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Asset-backed securities	$ 254,852	$ 494,723
Concentration risk, percentage	100.00%	100.00%
Portfolio Concentration Risk | Asset-backed securities | Re-REMIC
Schedule of Available-for-sale Securities [Line Items]
Asset-backed securities	$ 44,359	$ 195,889
Concentration risk, percentage	17.40%	39.60%
Portfolio Concentration Risk | Asset-backed securities | Subprime RMBS
Schedule of Available-for-sale Securities [Line Items]
Asset-backed securities	$ 117,152	$ 174,777
Concentration risk, percentage	46.00%	35.30%
Portfolio Concentration Risk | Asset-backed securities | Collateralized debt obligations
Schedule of Available-for-sale Securities [Line Items]
Asset-backed securities	$ 3,433	$ 50,455
Concentration risk, percentage	1.30%	10.20%
Portfolio Concentration Risk | Asset-backed securities | Market place loans
Schedule of Available-for-sale Securities [Line Items]
Asset-backed securities	$ 44,143	$ 13,247
Concentration risk, percentage	17.30%	2.70%
Portfolio Concentration Risk | Asset-backed securities | Other
Schedule of Available-for-sale Securities [Line Items]
Asset-backed securities	$ 45,765	$ 60,355
Concentration risk, percentage	18.00%	12.20%

Investments - Schedule of inves

Investments - Schedule of investments, categorized by the level of the fair value hierarchy (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Equity securities	$ 1,453,221	$ 1,201,623
Private common equity securities	4,799	5,276
Private preferred equity securities	48,834	24,178
Total equities	1,506,854	1,231,077
Asset-backed securities	254,852	494,723
Bank debts	56,896	9,818
Corporate bonds	218,280	83,190
U.S. Treasury securities	327,016	186,471
Sovereign debt	200,913	260,045
Total debt securities	1,057,957	1,034,247
Options	1,024	8,911
Rights and warrants		416
Trade claims	9,022	8,329
Total other investments	10,046	17,656
Derivative assets, at fair value	27,432	35,337
Total assets	2,602,289	2,318,317
Investments in funds valued at NAV	72,655	34,264
Total assets	2,674,944	2,352,581
Liabilities
Equity securities	71,457	228,009
Sovereign debt		5,856
Corporate bonds	17,683	76,131
Options	3,528	4,357
Total securities sold, not yet purchased	92,668	314,353
Derivative liabilities, at fair value	16,050	15,392
Derivative liabilities (embedded)	92	5,563
Total liabilities	108,810	335,308
Quoted prices in active markets (Level 1)
Assets
Equity securities	1,450,966	1,181,865
Private common equity securities	0	0
Private preferred equity securities	0	0
Total equities	1,450,966	1,181,865
Asset-backed securities	0	0
Bank debts	0	0
Corporate bonds	0	0
U.S. Treasury securities	0	0
Sovereign debt	0	0
Total debt securities	0	0
Options	343	0
Rights and warrants		416
Trade claims	0	0
Total other investments	343	416
Derivative assets, at fair value	961	0
Total assets	1,452,270	1,182,281
Liabilities
Equity securities	71,457	228,009
Sovereign debt		0
Corporate bonds	0	0
Options	0	690
Total securities sold, not yet purchased	71,457	228,699
Derivative liabilities, at fair value	1,608	0
Derivative liabilities (embedded)	0	0
Total liabilities	73,065	228,699
Significant other observable inputs (Level 2)
Assets
Equity securities	2,255	19,758
Private common equity securities	0	919
Private preferred equity securities	0	0
Total equities	2,255	20,677
Asset-backed securities	237,224	492,106
Bank debts	48,546	2,158
Corporate bonds	209,025	79,938
U.S. Treasury securities	327,016	186,471
Sovereign debt	200,913	260,024
Total debt securities	1,022,724	1,020,697
Options	681	8,911
Rights and warrants		0
Trade claims	9,022	8,329
Total other investments	9,703	17,240
Derivative assets, at fair value	26,471	35,337
Total assets	1,061,153	1,093,951
Liabilities
Equity securities	0	0
Sovereign debt		5,856
Corporate bonds	17,683	76,131
Options	3,528	3,667
Total securities sold, not yet purchased	21,211	85,654
Derivative liabilities, at fair value	13,116	14,372
Derivative liabilities (embedded)	0	0
Total liabilities	34,327	100,026
Significant unobservable inputs (Level 3)
Assets
Equity securities	0	0
Private common equity securities	4,799	4,357
Private preferred equity securities	48,834	24,178
Total equities	53,633	28,535
Asset-backed securities	17,628	2,617
Bank debts	8,350	7,660
Corporate bonds	9,255	3,252
U.S. Treasury securities	0	0
Sovereign debt	0	21
Total debt securities	35,233	13,550
Options	0	0
Rights and warrants		0
Trade claims	0	0
Total other investments	0	0
Derivative assets, at fair value	0	0
Total assets	88,866	42,085
Liabilities
Equity securities	0	0
Sovereign debt		0
Corporate bonds	0	0
Options	0	0
Total securities sold, not yet purchased	0	0
Derivative liabilities, at fair value	1,326	1,020
Derivative liabilities (embedded)	92	5,563
Total liabilities	$ 1,418	$ 6,583

Investments - Schedule of recon

Investments - Schedule of reconciliation of the balances for all investments measured at fair value using significant unobservable inputs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Assets
Asset fair value, beginning balance	$ 42,085	$ 9,962
Transfers in to (out of) Level 3	17,390	(2,193)
Purchases	41,966	36,427
Sales	(11,823)	(3,127)
Realized and Unrealized Gains (Losses)	(752)	1,016
Asset fair value, ending balance	88,866	42,085
Liabilities
Liability fair value, beginning balance	(6,583)	(10,251)
Transfers in to (out of) Level 3	0	0
Purchases	6,072	4,417
Sales	(1,167)	(3,325)
Realized and Unrealized Gains(Losses) (1)	260	2,576
Liability fair value, ending balance	(1,418)	(6,583)
Derivative liabilities (free standing)
Liabilities
Liability fair value, beginning balance	(1,020)	(962)
Transfers in to (out of) Level 3	0	0
Purchases	0	0
Sales	(306)	(173)
Realized and Unrealized Gains(Losses) (1)	0	115
Liability fair value, ending balance	(1,326)	(1,020)
Derivative liabilities (embedded)
Liabilities
Liability fair value, beginning balance	(5,563)	(9,289)
Transfers in to (out of) Level 3	0	0
Purchases	6,072	4,417
Sales	(861)	(3,152)
Realized and Unrealized Gains(Losses) (1)	260	2,461
Liability fair value, ending balance	(92)	(5,563)
Private common equity securities
Assets
Asset fair value, beginning balance	4,357	1,443
Transfers in to (out of) Level 3	0	0
Purchases	60	4,384
Sales	0	(192)
Realized and Unrealized Gains (Losses)	382	(1,278)
Asset fair value, ending balance	4,799	4,357
Private preferred equity securities
Assets
Asset fair value, beginning balance	24,178	0
Transfers in to (out of) Level 3	0	0
Purchases	20,574	18,991
Sales	(60)	0
Realized and Unrealized Gains (Losses)	4,142	5,187
Asset fair value, ending balance	48,834	24,178
Asset-backed securities
Assets
Asset fair value, beginning balance	2,617	4,720
Transfers in to (out of) Level 3	17,390	(2,212)
Purchases	5,433	4,929
Sales	(3,527)	(2,563)
Realized and Unrealized Gains (Losses)	(4,285)	(2,257)
Asset fair value, ending balance	17,628	2,617
Bank debt
Assets
Asset fair value, beginning balance	7,660	0
Transfers in to (out of) Level 3	0	0
Purchases	3,248	8,123
Sales	(928)	0
Realized and Unrealized Gains (Losses)	(1,630)	(463)
Asset fair value, ending balance	8,350	7,660
Corporate bonds
Assets
Asset fair value, beginning balance	3,252	3,799
Transfers in to (out of) Level 3	0	0
Purchases	12,651	0
Sales	(7,288)	(372)
Realized and Unrealized Gains (Losses)	640	(175)
Asset fair value, ending balance	9,255	3,252
Sovereign debt
Assets
Asset fair value, beginning balance	21	0
Transfers in to (out of) Level 3	0	19
Purchases	0	0
Sales	(20)	0
Realized and Unrealized Gains (Losses)	(1)	2
Asset fair value, ending balance	$ 0	$ 21

Investments - Schedule of unobs

Investments - Schedule of unobservable inputs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Derivative liabilities (embedded)	$ 92,000	$ 5,563,000
Corporate bonds	218,280,000	83,190,000
Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Derivative liabilities (embedded)	92,000	5,563,000
Corporate bonds	9,255,000	3,252,000
Discounted Cash Flow Valuation Technique [Member] | Corporate bonds | Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Corporate bonds	$ 0	$ 2,444,000
Duration (U)		3 years
Duration from Inception of Contracts	5 years
Duration from Valuation Date	3 years
Discounted Cash Flow Valuation Technique [Member] | Corporate bonds | Minimum | Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield (U)	0.00%	10.40%
Volatility (U)	0.00%	25.00%
Contractual Variable Annual Investment Credit	0.00%	0.00%
Discounted Cash Flow Valuation Technique [Member] | Corporate bonds | Maximum | Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield (U)	0.00%	11.40%
Volatility (U)	0.00%	35.00%
Contractual Variable Annual Investment Credit	2.50%	2.50%
Discounted Cash Flow Valuation Technique [Member] | Derivative liabilities (embedded) | Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Mean monthly investment return (U)	0.80%	1.20%
Discounted Cash Flow Valuation Technique [Member] | Derivative liabilities (embedded) | Minimum | Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Duration from Inception of Contracts		5 years
Duration from Valuation Date		4 years
Discounted Cash Flow Valuation Technique [Member] | Derivative liabilities (embedded) | Maximum | Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Duration from Inception of Contracts		5 years 6 months
Duration from Valuation Date		5 years
Private Equity Funds [Member] | Market Approach Valuation Technique [Member] | Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, Fair Value Disclosure	$ 47,608,000
Private Equity Funds [Member] | Market Approach Valuation Technique [Member] | Minimum | Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Volatility (U)	40.00%
Time to exit (U)	4 months 24 days
Multiple (U)	2
Fair Value Inputs, Discount Rate	5.00%
Private Equity Funds [Member] | Market Approach Valuation Technique [Member] | Maximum | Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Volatility (U)	60.00%
Time to exit (U)	2 years 9 months 18 days
Multiple (U)	3.8
Fair Value Inputs, Discount Rate	25.00%

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 18, 2014
Fair Value Disclosures [Abstract]
Securities valued based on dealer quotes or other quoted market prices for similar securities	$ 315,300,000	$ 570,900,000
Percent of securities valued based on dealer quotes or other quoted market prices for similar securities	11.90%	24.50%
Securities sold, not yet purchased, valued based on dealer quotes or other quoted market prices for similar securities	$ 2,000,000	$ 1,500,000
Percent of securities sold, not yet purchased, valued based on dealer quotes or other quoted market prices for similar securities	1.80%	0.40%
Private common equity securities	$ 63,200,000	$ 31,000,000
Securities fair valued by using information obtained from the Company's Investment Manager representing less than 1% of total investments in securities and commodities	2.40%	1.30%
Assets transfers from level 1 to level 2	$ 0	$ 0
Liability transfers from level 1 to level 2	0	0
Liability transfers from level 2 to level 1	0	0
Total unrealized gain (loss) related to fair value assets using significant unobservable inputs (Level 3	$ 1,000,000	(200,000)	$ (7,400,000)
Investment [Line Items]
Asset transfers from level 2 to level 1		0
Investments separately valued by third party valuation firms	96.30%
Investments in funds valued at NAV	$ 72,655,000	34,264,000
Corporate bonds	218,280,000	83,190,000
Equity securities
Investment [Line Items]
Asset transfers from level 2 to level 1		4,000,000
Investment in Kiskadee Fund
Investment [Line Items]
Committed capital				$ 25,000,000
Proceeds from Limited Partnership Investments	300,000	0
Investments in funds valued at NAV		26,500,000
Significant unobservable inputs (Level 3)
Investment [Line Items]
Corporate bonds	9,255,000	3,252,000
Investment in Kiskadee Fund | Investment in Kiskadee Fund
Investment [Line Items]
Investments in funds valued at NAV	27,700,000
Market Approach Valuation Technique [Member] | Private Equity Funds [Member] | Significant unobservable inputs (Level 3)
Investment [Line Items]
Investments, Fair Value Disclosure	47,608,000
Corporate bonds | Discounted Cash Flow Valuation Technique [Member] | Significant unobservable inputs (Level 3)
Investment [Line Items]
Corporate bonds	$ 0	$ 2,444,000

Securities purchased under an67

Securities purchased under an agreement to sell (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investment Holdings [Line Items]
Foreign currency gain (loss)	$ (5,162,000)	$ (3,905,000)	$ (8,068,000)	$ (2,386,000)	$ (2,396,000)	$ (746,000)	$ 139,000	$ (193,000)	$ (19,521,000)	$ (3,196,000)	$ 0
Reverse repurchase agreements
Investment Holdings [Line Items]
Foreign currency gain (loss)									$ 0	2,300,000	$ 4,100,000
Minimum
Investment Holdings [Line Items]
Maturity term for reverse repurchase agreements									30 days
Maximum
Investment Holdings [Line Items]
Maturity term for reverse repurchase agreements									90 days
U.S. Treasury securities
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions	310,000								$ 310,000
U.S. Treasury securities | Overnights and continuous
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions	310,000								310,000
U.S. Treasury securities | Up to 30 days
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions	0								0
U.S. Treasury securities | 30 - 90 days
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions	0								0
U.S. Treasury securities | Greater than 90 days
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions	$ 0								$ 0
Sovereign debt
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions					8,944,000					8,944,000
Sovereign debt | Overnights and continuous
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions					0					0
Sovereign debt | Up to 30 days
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions					0					0
Sovereign debt | 30 - 90 days
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions					8,944,000					8,944,000
Sovereign debt | Greater than 90 days
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions					0					0
Corporate bonds
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions					112,000					112,000
Corporate bonds | Overnights and continuous
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions					112,000					112,000
Corporate bonds | Up to 30 days
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions					0					0
Corporate bonds | 30 - 90 days
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions					0					0
Corporate bonds | Greater than 90 days
Investment Holdings [Line Items]
Securities sold under repurchase agreements and securities lending transactions					$ 0					$ 0

Due from_to brokers (Details)

Due from/to brokers (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Financial Instruments Owned and Pledged as Collateral [Line Items]
Cash held at brokers	$ 240,205	$ 249,871
Receivable from unsettled trades	44,386	77,100
Due from brokers	284,591	326,971
Borrowing from prime brokers (1)	855,576	572,688
Payable from unsettled trades	44,025	2,274
Due to brokers	899,601	574,962
Collateral	726,200	623,000
USD
Financial Instruments Owned and Pledged as Collateral [Line Items]
Cash held at brokers	22,000	9,800
Third Point LLC
Financial Instruments Owned and Pledged as Collateral [Line Items]
Receivable from unsettled trades	$ 37,600	$ 37,600

Derivatives - Schedule of listi

Derivatives - Schedule of listing currency, fair value and notional amounts of derivative instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Derivative assets, at fair value	$ 27,432	$ 35,337
Derivative assets, notional amount	1,426,239	783,557
Derivative liabilities, at fair value	16,050	15,392
Derivative liabilities, notional amount	1,310,297	586,325
Realized Gain (Loss) on Derivatives	(9,529)	21,782	$ 18,520
Unrealized Gain (Loss) on Derivatives	(5,950)	(316)	(8,127)
Credit Default Swaps - Protection Purchased
Derivative [Line Items]
Derivative assets, at fair value	10,905	21,692
Derivative assets, notional amount	84,327	183,125
Derivative liabilities, at fair value	3,286	3,449
Derivative liabilities, notional amount	43,184	38,455
Realized Gain (Loss) on Derivatives	4,311	1,282	(5,627)
Unrealized Gain (Loss) on Derivatives	(6,841)	4,839	1,018
Contracts for Differences - Long Contracts | Long Contracts / Purchased
Derivative [Line Items]
Derivative assets, at fair value	1,765	631
Derivative assets, notional amount	36,879	41,686
Derivative liabilities, at fair value	0	1,111
Derivative liabilities, notional amount	67	2,311
Realized Gain (Loss) on Derivatives	(4,123)	(6,101)	(1,869)
Unrealized Gain (Loss) on Derivatives	2,245	660	(11,621)
Contracts for Differences - Long Contracts | Short Contracts / Sold
Derivative [Line Items]
Derivative assets, at fair value		5,884
Derivative assets, notional amount		80,027
Derivative liabilities, at fair value	1,106	3,411
Derivative liabilities, notional amount	11,424	50,471
Realized Gain (Loss) on Derivatives	(253)	8,459	(3,873)
Unrealized Gain (Loss) on Derivatives	(3,579)	2,418	413
Total Return Swaps | Long Contracts / Purchased
Derivative [Line Items]
Derivative assets, at fair value	617	415
Derivative assets, notional amount	19,140	58,799
Derivative liabilities, at fair value	1,675	3,430
Derivative liabilities, notional amount	26,800	163,224
Realized Gain (Loss) on Derivatives	(6,835)	1,410	18,782
Unrealized Gain (Loss) on Derivatives	1,957	(2,469)	(2,112)
Total Return Swaps | Short Contracts / Sold
Derivative [Line Items]
Derivative assets, at fair value	183	466
Derivative assets, notional amount	8,696	9,457
Derivative liabilities, at fair value	1,302	386
Derivative liabilities, notional amount	10,095	19,318
Realized Gain (Loss) on Derivatives	(4,812)	(1,395)	(795)
Unrealized Gain (Loss) on Derivatives	(1,198)	45	171
Interest Rate Swaps
Derivative [Line Items]
Derivative assets, at fair value	2,462
Derivative assets, notional amount	195,571
Derivative liabilities, at fair value	722	18
Derivative liabilities, notional amount	59,115	13,069
Realized Gain (Loss) on Derivatives	205	119	(743)
Unrealized Gain (Loss) on Derivatives	1,740	0	639
Interest Rate Swaptions
Derivative [Line Items]
Derivative assets, at fair value	5,354	90
Derivative assets, notional amount	424,816	43,831
Derivative liabilities, at fair value	1,056	17
Derivative liabilities, notional amount	417,052	87,499
Realized Gain (Loss) on Derivatives	(340)	(771)	(455)
Unrealized Gain (Loss) on Derivatives	869	(39)	(918)
Sovereign Debt Futures - Short Contracts | Short Contracts / Sold
Derivative [Line Items]
Derivative assets, at fair value	961
Derivative assets, notional amount	107,591
Derivative liabilities, at fair value	1,608
Derivative liabilities, notional amount	159,923
Realized Gain (Loss) on Derivatives	0	(2,734)	(1,163)
Unrealized Gain (Loss) on Derivatives	0	280	(388)
Foreign Currency Forward Contracts
Derivative [Line Items]
Derivative assets, at fair value	653	1,947
Derivative assets, notional amount	47,754	155,518
Derivative liabilities, at fair value	2,009	1,041
Derivative liabilities, notional amount	214,854	87,127
Realized Gain (Loss) on Derivatives	(2,747)	21,429	16,891
Unrealized Gain (Loss) on Derivatives	(2,261)	(3,334)	3,617
Foreign Currency Options - Purchased
Derivative [Line Items]
Derivative assets, at fair value	4,532	4,141
Derivative assets, notional amount	501,465	193,613
Derivative liabilities, at fair value	1,334	475
Derivative liabilities, notional amount	363,840	118,415
Foreign Currency Options - Purchased | Long Contracts / Purchased
Derivative [Line Items]
Realized Gain (Loss) on Derivatives	(2,338)	318	(265)
Unrealized Gain (Loss) on Derivatives	(2,229)	(1,144)	941
Foreign Currency Options - Purchased | Short Contracts / Sold
Derivative [Line Items]
Realized Gain (Loss) on Derivatives	617	1,214	(1,438)
Unrealized Gain (Loss) on Derivatives	(103)	316	63
Credit Default Swaps - Protection Sold
Derivative [Line Items]
Derivative liabilities, at fair value	1,952	2,054
Derivative liabilities, notional amount	3,943	6,436
Realized Gain (Loss) on Derivatives	(4,009)	2,071	1,362
Unrealized Gain (Loss) on Derivatives	4,149	(2,098)	(830)
Embedded derivatives in reinsurance contracts
Derivative [Line Items]
Derivative liabilities, at fair value	92	5,563
Derivative liabilities, notional amount	20,000	20,000
Realized Gain (Loss) on Derivatives	0	(5)	0
Unrealized Gain (Loss) on Derivatives	260	362	102
Derivative liabilities (embedded)
Derivative [Line Items]
Derivative liabilities, at fair value	92	5,563
Derivative liabilities, notional amount	20,000	20,000
Realized Gain (Loss) on Derivatives	0	2,099	0
Unrealized Gain (Loss) on Derivatives	260	362	(1,988)
Commodity Future | Long Contracts / Purchased
Derivative [Line Items]
Realized Gain (Loss) on Derivatives	0	(1,515)	0
Unrealized Gain (Loss) on Derivatives	0	0	0
Commodity Future | Short Contracts / Sold
Derivative [Line Items]
Realized Gain (Loss) on Derivatives	(281)	(580)	(11)
Unrealized Gain (Loss) on Derivatives	(52)	194	(143)
Commodity Future Options | Long Contracts / Purchased
Derivative [Line Items]
Realized Gain (Loss) on Derivatives	651	(286)	(470)
Unrealized Gain (Loss) on Derivatives	0	285	(289)
Commodity Future Options | Short Contracts / Sold
Derivative [Line Items]
Realized Gain (Loss) on Derivatives	0	272	364
Unrealized Gain (Loss) on Derivatives	0	(269)	101
Index Futures | Long Contracts / Purchased
Derivative [Line Items]
Realized Gain (Loss) on Derivatives	0	1,144	(840)
Unrealized Gain (Loss) on Derivatives	0	0	0
Index Futures | Short Contracts / Sold
Derivative [Line Items]
Realized Gain (Loss) on Derivatives	0	0	(253)
Unrealized Gain (Loss) on Derivatives	0	0	441
Bond Futures | Short Contracts / Sold
Derivative [Line Items]
Derivative assets, at fair value		71
Derivative assets, notional amount		17,501
Realized Gain (Loss) on Derivatives	0	(2,584)	(1,077)
Unrealized Gain (Loss) on Derivatives	0	0	(212)
Fixed Income Swap | Short Contracts / Sold
Derivative [Line Items]
Realized Gain (Loss) on Derivatives	(94)	0	0
Unrealized Gain (Loss) on Derivatives	0	0	0
Sovereign Debt Futures | Short Contracts / Sold
Derivative [Line Items]
Realized Gain (Loss) on Derivatives	10,519	0	0
Unrealized Gain (Loss) on Derivatives	(647)	0	0
Reinsurance contract derivatives
Derivative [Line Items]
Realized Gain (Loss) on Derivatives	0	30	0
Unrealized Gain (Loss) on Derivatives	0	0	982
Embedded derivatives in deposit contracts
Derivative [Line Items]
Realized Gain (Loss) on Derivatives	0	2,104	0
Unrealized Gain (Loss) on Derivatives	$ 0	$ 0	$ (2,090)

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Aggregate fair value of derivative instruments with credit-risk related contingent feature in a net liability position	$ 6.1	$ 1.8
Cash collateral posted	48.8	62.6
Held collateral from certain counterparties	4.2
OTC Option Asset	0.7	8.9
OTC Option Liability	$ 3.5	$ 3.7

Derivatives - Schedule of gross

Derivatives - Schedule of gross and net amounts of derivative instruments that are subject to enforceable master netting arrangements or similar agreements (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Assets Presented in the Consolidated Balance Sheet	$ 27,432	$ 35,337
Net Amount		24,761
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet	16,050	15,392
Net Amount		0
Counterparty 1
Gross Amounts not Offset in the Consolidated Balance Sheet
Net Amount		0
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet	2,959
Financial Instruments	535
Cash Collateral Received	2,424
Net Amount	0	0
Counterparty 2
Gross Amounts not Offset in the Consolidated Balance Sheet
Net Amount		3,716
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet	607
Financial Instruments	607
Cash Collateral Received	0
Net Amount	0	0
Counterparty 3
Gross Amounts not Offset in the Consolidated Balance Sheet
Net Amount		4,012
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet	4,760
Financial Instruments	4,760
Cash Collateral Received	0
Net Amount	0	0
Counterparty 4
Gross Amounts not Offset in the Consolidated Balance Sheet
Net Amount		1,023
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet	3,827
Financial Instruments	1,639
Cash Collateral Received	2,188
Net Amount	0	0
Counterparty 5
Gross Amounts not Offset in the Consolidated Balance Sheet
Net Amount		10,154
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet	3,027
Financial Instruments	3,027
Cash Collateral Received	0
Net Amount	0	0
Counterparty 6
Gross Amounts not Offset in the Consolidated Balance Sheet
Net Amount		3,701
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet	2,599
Financial Instruments	2,599
Cash Collateral Received	0
Net Amount	0	0
Counterparty 7
Gross Amounts not Offset in the Consolidated Balance Sheet
Net Amount		688
Counterparty 8
Gross Amounts not Offset in the Consolidated Balance Sheet
Net Amount		0
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet	977
Financial Instruments	277
Cash Collateral Received	0
Net Amount	700	990
Counterparty 9
Gross Amounts not Offset in the Consolidated Balance Sheet
Net Amount		1,467
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet	822
Financial Instruments	37
Cash Collateral Received	785
Net Amount	0	0
Counterparty 15
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet		153
Financial Instruments		6
Cash Collateral Received		147
1 derivative not included as counterparty
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet	19,578	19,059
Financial Instruments	13,481	17,307
Cash Collateral Received	5,397	762
Net Amount	700	990
Financial assets, derivative assets and collateral received
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Assets Presented in the Consolidated Balance Sheet	28,112	44,248
Financial Instruments	13,481	17,300
Cash Collateral Received	3,580	2,187
Net Amount	11,051
Financial assets, derivative assets and collateral received | Counterparty 1
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Assets Presented in the Consolidated Balance Sheet	535	2,171
Financial Instruments	535	2,171
Cash Collateral Received	0	0
Net Amount	0
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet		2,626
Financial Instruments		2,171
Cash Collateral Received		455
Financial assets, derivative assets and collateral received | Counterparty 2
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Assets Presented in the Consolidated Balance Sheet	3,147	4,959
Financial Instruments	607	1,243
Cash Collateral Received	0	0
Net Amount	2,540
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet		1,243
Financial Instruments		1,243
Cash Collateral Received		0
Financial assets, derivative assets and collateral received | Counterparty 3
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Assets Presented in the Consolidated Balance Sheet	8,652	6,347
Financial Instruments	4,760	2,335
Cash Collateral Received	0	0
Net Amount	3,892
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet		2,335
Financial Instruments		2,335
Cash Collateral Received		0
Financial assets, derivative assets and collateral received | Counterparty 4
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Assets Presented in the Consolidated Balance Sheet	1,639	3,679
Financial Instruments	1,639	2,656
Cash Collateral Received	0	0
Net Amount	0
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet		2,816
Financial Instruments		2,656
Cash Collateral Received		160
Financial assets, derivative assets and collateral received | Counterparty 5
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Assets Presented in the Consolidated Balance Sheet	7,336	14,181
Financial Instruments	3,027	4,027
Cash Collateral Received	0	0
Net Amount	4,309
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet		4,028
Financial Instruments		4,028
Cash Collateral Received		0
Financial assets, derivative assets and collateral received | Counterparty 6
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Assets Presented in the Consolidated Balance Sheet	6,262	7,351
Financial Instruments	2,599	1,657
Cash Collateral Received	3,383	1,993
Net Amount	280
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet		1,657
Financial Instruments		1,657
Cash Collateral Received		0
Financial assets, derivative assets and collateral received | Counterparty 7
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Assets Presented in the Consolidated Balance Sheet	227	882
Financial Instruments	0	0
Cash Collateral Received	197	194
Net Amount	30
Financial assets, derivative assets and collateral received | Counterparty 8
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Assets Presented in the Consolidated Balance Sheet	277	2,669
Financial Instruments	277	2,669
Cash Collateral Received	0	0
Net Amount	0
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet		3,659
Financial Instruments		2,669
Cash Collateral Received		0
Financial assets, derivative assets and collateral received | Counterparty 9
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Assets Presented in the Consolidated Balance Sheet	37	2,009
Financial Instruments	37	542
Cash Collateral Received	0	0
Net Amount	0
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet		542
Financial Instruments		542
Cash Collateral Received		0
Securities purchased under an agreement to sell | Counterparty 3
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet	302
Financial Instruments	302
Cash Collateral Received	0
Net Amount	0
Net investment losses on securities sold under an agreement to repurchase
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet		9,058
Financial Instruments		8,944
Cash Collateral Received		112
Net Amount		2
Net investment losses on securities sold under an agreement to repurchase | Counterparty 3
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet		114
Financial Instruments		0
Cash Collateral Received		112
Net Amount		2
Net investment losses on securities sold under an agreement to repurchase | Counterparty 4
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet		8,944
Financial Instruments		8,944
Cash Collateral Received		0
Net Amount		$ 0
Net investment losses on securities sold under an agreement to repurchase | 1 derivative not included as counterparty
Gross Amounts not Offset in the Consolidated Balance Sheet
Gross Amounts of Liabilities Presented in the Consolidated Balance Sheet	302
Financial Instruments	302
Cash Collateral Received	0
Net Amount	$ 0

Loss and loss adjustment expe72

Loss and loss adjustment expense reserves - Schedule of loss and loss adjustment expense reserves (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Insurance Loss Reserves [Abstract]
Case loss and loss adjustment expense reserves	$ 80,370	$ 87,186
Incurred but not reported loss and loss adjustment expense reserves	522,818	375,690
Deferred gains on retroactive reinsurance contracts	1,941	3,171
Loss and loss adjustment expense reserves	$ 605,129	$ 466,047

Loss and loss adjustment expe73

Loss and loss adjustment expense reserves - Schedule of activity in the reserve for losses and loss adjustment expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross reserves for loss and loss adjustment expenses, beginning of year	$ 466,047	$ 277,362	$ 134,331
Less: loss and loss adjustment expenses recoverable, beginning of year	(1)	(125)	(814)	$ (9,277)
Net reserves for loss and loss adjustment expenses, beginning of year	465,922	276,548	125,054
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Current year	373,048	419,377	286,787
Prior years	(23,930)	3,330	3,559
Amortization of deferred gains on retroactive reinsurance contracts	(1,046)	(856)	(81)
Total incurred loss and loss adjustment expenses	395,932	415,191	283,147
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Current year	(105,921)	(100,403)	(70,562)
Prior years	(133,241)	(121,665)	(61,091)
Total net paid losses	(239,162)	(222,068)	(131,653)
Foreign currency translation	(17,564)	(3,749)	0
Net reserve for loss and loss adjustment expenses, end of year	605,128	465,922	276,548
Plus: loss and loss adjustment expenses recoverable, end of year	(1)	(125)	(814)
Gross reserve for loss and loss adjustment expenses, end of year	605,129	466,047	277,362
Change In Policy Acquisition Costs	6,400
Prior Year Claims and Claims Adjustment Expense, Increase (Decrease) in Premium Estimates	19,500
Prior Year Claims and Claims Adjustment Expense, Increase (Decrease) in Net Underwriting Loss	(12,800)
Impact On Underwriting Income [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Change in Accounting Estimate, Financial Impact	300
Premium Adjustments on Certain Contracts [Member]
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Prior years	(13,400)	2,100	2,900
Favorable Reserve Development [Member]
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Prior years	(10,500)	5,400	700
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Change in policy acquisition costs		13,200	300
Impact On Underwriting Income [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Change in Accounting Estimate, Financial Impact	12,500
Paid Losses on Commuted Contracts	1,000	79,100	10,800
Impact On Underwriting Income [Member] | Multi Line Contract [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Change in Accounting Estimate, Financial Impact	4,800
Impact On Underwriting Income [Member] | Non-Standard Auto Contract [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Change in Accounting Estimate, Financial Impact	4,000
Impact On Underwriting Income [Member] | Reinsurance Contracts [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Change in Accounting Estimate, Financial Impact	3,700
Impact On Underwriting Income [Member] | Worker Compensation Contracts [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Change in Accounting Estimate, Financial Impact	3,300
Impact On Underwriting Income [Member] | Other Contracts [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Change in Accounting Estimate, Financial Impact	2,100
Impact On Underwriting Income [Member] | Favorable Reserve Development [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Prior Year Claims and Claims Adjustment Expense, Increase (Decrease) in Net Underwriting Loss		7,800	(400)
Ratio Split [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Change In Policy Acquisition Costs	2,000
Premium Adjustments on Certain Contracts [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Increase (decrease) in earned premium related to decrease in premium estimates		7,500	3,700
Change in policy acquisition costs		$ 300	(400)
Prior Year Claims and Claims Adjustment Expense, Increase (Decrease) in Net Underwriting Loss			(400)
Premium Adjustments on Certain Contracts [Member] | Impact On Underwriting Income [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Change in Accounting Estimate, Financial Impact	$ 19,800		$ 3,300

Loss and loss adjustment expe74

Loss and loss adjustment expense reserves - Schedule of total loss and loss adjustment expenses incurred, net and net loss and loss adjustment expenses paid by accident years (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Claims Development [Line Items]
Loss and loss adjustment expenses incurred, net	$ 1,284,244
Cumulative net losses and loss adjustment expenses paid	681,057
Net reserves for loss and loss adjustment expenses, end of year	603,187
Deferred gains on retroactive reinsurance contracts	1,941
Loss and loss adjustment expenses recoverable	1	$ 125	$ 814	$ 9,277
Liability for Claims and Claims Adjustment Expense	605,129	466,047	277,362	134,331
Accident Year 2012
Claims Development [Line Items]
Loss and loss adjustment expenses incurred, net	76,628	76,538	76,273	75,413	$ 80,306
IBNR loss and loss adjustment expense reserves, net	290
Cumulative net losses and loss adjustment expenses paid	75,770	74,941	73,503	67,449	$ 13,035
Accident Year 2013
Claims Development [Line Items]
Loss and loss adjustment expenses incurred, net	144,058	144,312	140,123	144,508
IBNR loss and loss adjustment expense reserves, net	10,404
Cumulative net losses and loss adjustment expenses paid	118,729	109,489	82,565	$ 27,528
Accident Year 2014
Claims Development [Line Items]
Loss and loss adjustment expenses incurred, net	274,910	275,622	284,464
IBNR loss and loss adjustment expense reserves, net	74,768
Cumulative net losses and loss adjustment expenses paid	185,979	163,250	$ 70,562
Accident Year 2015
Claims Development [Line Items]
Loss and loss adjustment expenses incurred, net	421,923	396,635
IBNR loss and loss adjustment expense reserves, net	204,039
Cumulative net losses and loss adjustment expenses paid	196,933	$ 98,665
Accident Year 2016
Claims Development [Line Items]
Loss and loss adjustment expenses incurred, net	366,725
IBNR loss and loss adjustment expense reserves, net	233,317
Cumulative net losses and loss adjustment expenses paid	$ 103,646

Loss and loss adjustment expe75

Loss and loss adjustment expense reserves - Schedule of payout percentage on losses (Details)	Dec. 31, 2016
Loss and Loss Adjustment Expense Reserves [Abstract]
Year 1	22.70%
Year 2	41.60%
Year 3	11.60%
Year 4	4.10%
Year 5	1.10%

Management, performance and f76

Management, performance and founders fees (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 21, 2016
Third Point Advisors LLC
Related Party Transaction [Line Items]
Annual investment performance fee	20.00%
TP LLC and Various Third Point Re Founders
Related Party Transaction [Line Items]
Annual investment management fee	1.50%			2.00%
Net investment income
Related Party Transaction [Line Items]
Investment fee expenses	$ 59,707,000	$ 43,277,000	$ 53,516,000
Net investment income | Third Point LLC
Related Party Transaction [Line Items]
Investment fee expenses	7,110,000	6,362,000	5,037,000
Net investment income | Founders
Related Party Transaction [Line Items]
Investment fee expenses	35,321,000	36,053,000	28,544,000
Net investment income | Third Point Advisors LLC
Related Party Transaction [Line Items]
Investment fee expenses	17,276,000	862,000	$ 19,935,000
Third Point Re
Related Party Transaction [Line Items]
Loss Recovery Reserve	0	5,000,000
Third Point Re USA
Related Party Transaction [Line Items]
Loss Recovery Reserve	$ 0	$ 1,200,000

Deposit contracts (Details)

Deposit contracts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Deposit Contracts, Liabilities [Roll Forward]
Balance, beginning of year	$ 83,955	$ 145,430	$ 120,946
Consideration received	22,463	21,246	18,398
Net investment expense (income) allocation and change in fair value of embedded derivatives	(164)	2,207	6,436
Payments	(915)	(84,928)	(350)
Foreign currency translation	(434)	0	0
Balance, end of year	$ 104,905	$ 83,955	$ 145,430

Senior Notes payable and lett78

Senior Notes payable and letter of credit facilities Senior Notes payable and letter of credit facilities (Details) - Unsecured Debt - 7% Senior Unsecured Notes - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Debt issued	$ 115,000,000
Interest rate	7.00%
Debt Issuance Costs, Net	$ 1,400,000
Debt instrument, fair value disclosure	$ 103,400,000	$ 104,800,000

Senior Notes payable and lett79

Senior Notes payable and letter of credit facilities - Letters of credit (Details)	Dec. 31, 2016USD ($)	Aug. 31, 2016USD ($)facility	Dec. 31, 2015USD ($)
Line of Credit Facility [Line Items]
Collateral	$ 726,200,000		$ 623,000,000
Letter of Credit
Line of Credit Facility [Line Items]
Facility	525,000,000
Utilized	231,822,000
Collateral	231,822,000
Letter of Credit | BNP Paribas
Line of Credit Facility [Line Items]
Facility	50,000,000
Utilized	7,976,000
Collateral	7,976,000
Letter of Credit | Citibank
Line of Credit Facility [Line Items]
Facility	300,000,000
Utilized	157,070,000
Collateral	157,070,000
Letter of Credit | J.P. Morgan
Line of Credit Facility [Line Items]
Facility	50,000,000
Utilized	9,000
Collateral	9,000
Letter of Credit | Lloyds Bank
Line of Credit Facility [Line Items]
Facility	125,000,000	$ 100,000,000
Utilized	66,767,000
Collateral	$ 66,767,000
Line of Credit Facility, Number of New Facilities | facility		2
Letter of Credit | Lloyds Bank | Third Point Re
Line of Credit Facility [Line Items]
Facility		$ 75,000,000
Letter of Credit | Lloyds Bank | Third Point Re USA
Line of Credit Facility [Line Items]
Facility		$ 50,000,000

Net investment income (Details)

Net investment income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net Investment Income [Abstract]
Net realized gains on investments and investment derivatives									$ 33,505	$ 14,398	$ 193,957
Net unrealized gains (losses) on investments and investment derivatives									70,290	(34,181)	(83,146)
Net gains (losses) on foreign currencies									(2,557)	933	2,581
Dividend and interest income									77,160	45,103	31,750
Dividends paid on securities sold, not yet purchased									(1,977)	(1,279)	(120)
Management and performance fees									(59,707)	(43,277)	(53,516)
Other expenses									(19,422)	(11,305)	(7,151)
Net investment income (loss) on investments managed by Third Point LLC									97,292	(29,608)	84,355
Net gain on investment in Kiskadee Fund									1,533	1,465	0
Net investment income related to Catastrophe Reinsurer and Catastrophe Fund									0	69	1,227
Net investment income	$ (35,767)	$ 88,356	$ 86,346	$ (40,110)	$ 61,553	$ (193,156)	$ 38,611	$ 64,918	98,825	(28,074)	85,582
Net investment gains (losses) on equity securities
Schedule of Cost-method Investments [Line Items]
Change in net investment income									90,089	(31,224)	82,902
Net investment gains on debt securities
Schedule of Cost-method Investments [Line Items]
Change in net investment income									134,512	35,502	80,285
Net investment losses on other investments
Schedule of Cost-method Investments [Line Items]
Change in net investment income									(27,349)	(35,917)	(35,491)
Net investment gains (losses) on investment derivatives
Schedule of Cost-method Investments [Line Items]
Change in net investment income									(15,479)	21,466	10,393
Net investment gains (losses) on securities sold, not yet purchased
Schedule of Cost-method Investments [Line Items]
Change in net investment income									(5,030)	33,086	4,334
Net investment income (loss) on cash, including foreign exchange gains (losses)
Schedule of Cost-method Investments [Line Items]
Change in net investment income									(10,173)	149	4,992
Net investment losses on securities purchased under an agreement to resell
Schedule of Cost-method Investments [Line Items]
Change in net investment income									0	(147)	(4,099)
Net investment losses on securities sold under an agreement to repurchase
Schedule of Cost-method Investments [Line Items]
Change in net investment income									(1,970)	(2,226)	0
Management and performance fees
Schedule of Cost-method Investments [Line Items]
Change in net investment income									(59,707)	(43,277)	(53,516)
Other investment expenses
Schedule of Cost-method Investments [Line Items]
Change in net investment income									$ (6,068)	$ (5,486)	$ (4,218)

Other expenses (Details)

Other expenses (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Income and Expenses [Abstract]
Deposit liabilities investment expense (income)									$ (164)	$ 6,471	$ 4,346
Reinsurance contracts investment expense									8,811	6,764	1,061
Change in fair value of embedded derivatives in deposit and reinsurance contracts									(260)	(4,621)	1,988
Other expenses	$ 2,161	$ 347	$ 3,173	$ 2,706	$ 2,928	$ 670	$ 2,315	$ 2,701	$ 8,387	$ 8,614	$ 7,395

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax [Line Items]
Accrual for uncertain tax positions	$ 1,600				$ 1,500				$ 1,600	$ 1,500
Income tax expense related to U.S. and U.K. subsidiaries	(272)	$ 2,484	$ 5,310	$ (1,929)	2,863	$ (7,781)	$ 708	$ 1,305	5,593	(2,905)	$ 5,648
Income (loss) before income tax (expense) benefit	(47,197)	75,532	59,461	(53,327)	45,670	(205,217)	16,865	52,338	34,469	(90,344)	62,358
Reconciliation of expected income tax to income tax expense [Abstract]
Withholding taxes related to dividend and interest income									6,678	4,828	3,024
Uncertain tax positions									147	(1,100)	2,600
Non-deductible expenses and other									75	0	0
Income tax expense (benefit)	(272)	2,484	5,310	(1,929)	2,863	(7,781)	708	1,305	5,593	(2,905)	5,648
Current and deferred incomes [Abstract]
Current tax expense									6,825	3,728	5,648
Deferred tax expense									(1,232)	(6,633)	0
Income tax expense (benefit)	(272)	$ 2,484	$ 5,310	$ (1,929)	2,863	$ (7,781)	$ 708	$ 1,305	5,593	(2,905)	5,648
Deferred Tax Assets [Abstract]
Discounting of loss and loss adjustment expense reserves	451				119				451	119	0
Unearned premiums	2,486				2,329				2,486	2,329	0
Temporary differences in recognition of expenses	1,134				573				1,134	573	0
Net operating loss carryforward	13,326				7,839				13,326	7,839	0
Total deferred tax assets	17,397				10,860				17,397	10,860	0
Deferred Tax Liabilities [Abstract]
Deferred acquisition costs	4,079				3,515				4,079	3,515	0
Unrealized losses on investments	5,438				712				5,438	712	0
Total deferred tax liabilities	9,517				4,227				9,517	4,227	0
Net deferred tax assets	$ 7,880				$ 6,633				7,880	6,633	0
Bermuda
Income Tax [Line Items]
Income (loss) before income tax (expense) benefit									$ 38,243	(71,416)	62,649
Federal statutory income tax rate									0.00%
Reconciliation of expected income tax to income tax expense [Abstract]
Bermuda (expected tax expense at 0%)									$ 0	0	0
United States
Income Tax [Line Items]
Income (loss) before income tax (expense) benefit									$ (3,687)	(18,981)	(255)
Federal statutory income tax rate									35.00%
Reconciliation of expected income tax to income tax expense [Abstract]
Foreign taxes at local expected rates:									$ (1,290)	(6,644)	0
United Kingdom
Income Tax [Line Items]
Income (loss) before income tax (expense) benefit									$ (87)	53	(36)
Federal statutory income tax rate									21.00%
Reconciliation of expected income tax to income tax expense [Abstract]
Foreign taxes at local expected rates:									$ (17)	11	24
Income tax expense (benefit) related to U.S. and U.K. subsidiaries
Income Tax [Line Items]
Income tax expense related to U.S. and U.K. subsidiaries									(1,232)	(6,633)	24
Reconciliation of expected income tax to income tax expense [Abstract]
Income tax expense (benefit)									(1,232)	(6,633)	24
Current and deferred incomes [Abstract]
Income tax expense (benefit)									(1,232)	(6,633)	24
Change in uncertain tax positions
Income Tax [Line Items]
Income tax expense related to U.S. and U.K. subsidiaries									147	(1,100)	2,600
Reconciliation of expected income tax to income tax expense [Abstract]
Income tax expense (benefit)									147	(1,100)	2,600
Current and deferred incomes [Abstract]
Income tax expense (benefit)									147	(1,100)	2,600
Withholding taxes on certain investment transactions
Income Tax [Line Items]
Income tax expense related to U.S. and U.K. subsidiaries									6,678	4,828	3,024
Reconciliation of expected income tax to income tax expense [Abstract]
Income tax expense (benefit)									6,678	4,828	3,024
Current and deferred incomes [Abstract]
Income tax expense (benefit)									$ 6,678	$ 4,828	$ 3,024

Share capital - Common shares a

Share capital - Common shares and treasury shares (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued and outstanding, beginning of year	105,479,341	104,473,402
Shares issued and outstanding, end of year	106,501,299	105,479,341
Balance, beginning of period	0	0
Repurchase of common shares	644,768	0
Balance, end of period	644,768	0
Management and director options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	514,059	433,279
Restricted share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	47,712	110,853
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	460,187	461,807

Share capital - Authorized and

Share capital - Authorized and issued (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Equity [Abstract]
Share capital authorized	$ 33,000,000
Common share, shares authorized (in shares)	300,000,000	300,000,000
Common share, par value (in dollars per share)	$ 0.10	$ 0.10
Preference shares, shares authorized (in shares)	30,000,000	30,000,000
Preference shares, par value (in dollars per share)	$ 0.10	$ 0.10

Share capital - Share repurchas

Share capital - Share repurchases (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	May 04, 2016
Share repurchase [Abstract]
Stock Repurchase Program, Authorized Amount		$ 100,000,000
Stock Repurchased and Retired During Period, Shares	644,768
Payments for Repurchase of Common Stock	$ 7,400,000
Treasury Stock Acquired, Average Cost Per Share	$ 11.46
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 92,600,000

Share capital - Warrants (Detai

Share capital - Warrants (Details)	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares
Class of Warrant or Right [Line Items]
Maximum percent of warrants reserved for issuance	4.00%
Maximum value of warrants reserved for issuance	$ 1,000,000,000
Exercise price (in dollars per share) | $ / shares	$ 10
Authorized and issued (in shares) | shares	4,651,163
Aggregated fair value of warrants	$ 17,374,000
Term of warrants	10 years
Founders
Class of Warrant or Right [Line Items]
Maximum percent of warrants reserved for issuance	3.50%
Exercise price (in dollars per share) | $ / shares	$ 10
Authorized and issued (in shares) | shares	4,069,868
Aggregated fair value of warrants	$ 15,203,000
Advisor
Class of Warrant or Right [Line Items]
Maximum percent of warrants reserved for issuance	0.50%
Exercise price (in dollars per share) | $ / shares	$ 10
Authorized and issued (in shares) | shares	581,295
Aggregated fair value of warrants	$ 2,171,000

Share-based compensation - Narr

Share-based compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jul. 15, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized share compensation expense	$ 4.6	$ 13.1
Unamortized share compensation expense, period of recognition	1 year 4 months 24 days	1 year 4 months
Fair value assumptions
Aggregate intrinsic value of options outstanding	$ 8	$ 19.6
Aggregate intrinsic value of options exercisable	7.1	13.4
Proceeds from stock options exercised	$ 5.1	$ 4.2
Non-Employee Directors
Fair value assumptions
Restricted stock awards issued	47,712	46,691	40,070
Employees
Fair value assumptions
Restricted stock awards issued	0	71,429	9,614
Management and director options
Fair value assumptions
Estimated share price (in dollars per share)			$ 15.05
Volatility assumption			23.10%
Risk free interest rate			2.20%
Expected life			6 years 6 months
Dividend yield			0.00%
Remaining contractual life	4 years 10 months 7 days	5 years 11 months 26 days
Management and director options | Management
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service condition met on each of first five anniversary dates following grant date	20.00%
Fair value assumptions
Award vesting period	5 years
Restricted share awards
Fair value assumptions
Award vesting period	3 years
Omnibus plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)				21,627,906
Number of shares available for future issuance (in shares)	9,418,538	9,786,902

Share-based compensation - Sche

Share-based compensation - Schedule of share-based compensation expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share compensation expense	$ 8,938	$ 10,871	$ 9,258
Management and director options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share compensation expense	6,054	6,264	6,600
Restricted share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share compensation expense	1,365	1,953	2,591
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share compensation expense	$ 1,519	$ 2,654	$ 67

Share-based compensation - Sc89

Share-based compensation - Schedule of management and director options activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of options (in shares)
Outstanding (in shares)	10,250,586	10,990,841	10,981,075
Granted (in shares)			348,836
Forfeited (in shares)	(139,534)	(306,976)	(279,070)
Exercised (in shares)	(514,059)	(433,279)	(60,000)
Outstanding (in shares)	9,596,993	10,250,586	10,990,841
Weighted average exercise price (in dollars per share)
Outstanding (in dollars per share)	$ 13.52	$ 13.41	$ 13.23
Granted (in dollars per share)			18.25
Forfeited (in dollars per share)	18	14.36	13.20
Exercised (in dollars per share)	10	10	10
Outstanding (in dollars per share)	$ 13.64	$ 13.52	$ 13.41

Share-based compensation - Sc90

Share-based compensation - Schedule of management and director options outstanding (Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding (in shares)	9,596,993	10,250,586	10,990,841	10,981,075
Options outstanding, weighted average exercise price (in dollars per share)	$ 13.64	$ 13.52	$ 13.41	$ 13.23
Management and director options
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding (in shares)	9,596,993
Options outstanding, weighted average exercise price (in dollars per share)	$ 13.64
Remaining contractual life	4 years 10 months 7 days	5 years 11 months 26 days
Options exercisable (in shares)	8,434,203
Options exercisable, weighted average exercise price (in dollars per share)	$ 13.61
Management and director options | $10.00 - $10.89
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, lower limit (in dollars per share)	10
Exercise price, upper limit (in dollars per share)	$ 10.89
Options outstanding (in shares)	5,274,334
Options outstanding, weighted average exercise price (in dollars per share)	$ 10.04
Remaining contractual life	4 years 11 months 19 days
Options exercisable (in shares)	4,660,380
Options exercisable, weighted average exercise price (in dollars per share)	$ 10.02
Management and director options | $15.05 - $16.89
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, lower limit (in dollars per share)	15.05
Exercise price, upper limit (in dollars per share)	$ 16.89
Options outstanding (in shares)	2,196,214
Options outstanding, weighted average exercise price (in dollars per share)	$ 15.94
Remaining contractual life	4 years 9 months
Options exercisable (in shares)	1,907,842
Options exercisable, weighted average exercise price (in dollars per share)	$ 15.96
Management and director options | $20.00 - $25.05
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, lower limit (in dollars per share)	20
Exercise price, upper limit (in dollars per share)	$ 25.05
Options outstanding (in shares)	2,126,445
Options outstanding, weighted average exercise price (in dollars per share)	$ 20.23
Remaining contractual life	4 years 8 months 1 day
Options exercisable (in shares)	1,865,981
Options exercisable, weighted average exercise price (in dollars per share)	$ 20.16

Share-based compensation - Sc91

Share-based compensation - Schedule of restricted share award activity (Details) - Restricted share awards - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of non-vested restricted shares (in shares)
Outstanding, beginning of year (in shares)	301,043	616,114	657,156
Granted (in shares)	47,712	118,120	49,684
Forfeited (in shares)		(7,267)	(17,800)
Vested (in shares)	(47,712)	(425,924)	(72,926)
Outstanding, end of year (in shares)	301,043	301,043	616,114
Weighted average grant data fair value (in dollars per share)
Outstanding, beginning of year (in dollars per share)	$ 11.12	$ 10.10	$ 10.30
Granted (in dollars per share)	11.37	13.06	15.39
Forfeited (in dollars per share)		13.76	10
Vested (in dollars per share)	11.37	10.37	15.56
Outstanding, end of year (in dollars per share)	$ 11.12	$ 11.12	$ 10.10

Share-based compensation - Sc92

Share-based compensation - Schedule of restricted shares with performance condition (Details) - Performance Shares - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of non-vested restricted shares (in shares)
Outstanding, beginning of year (in shares)	921,553	459,746	0
Granted (in shares)	653,958	514,276	459,746
Forfeited (in shares)	(193,771)	(52,469)
Outstanding, end of year (in shares)	1,381,740	921,553	459,746
Number of non-vested restricted shares probable of vesting
Outstanding, beginning of year (in shares)	536,234	306,496	0
Granted (in shares)	435,974	342,846	306,496
Forfeited (in shares)	(119,009)	(34,980)
Change in estimated restricted shares considerable probable of vesting (in shares)	(275,713)	(78,128)
Outstanding, end of year (in shares)	577,486	536,234	306,496
Weighted average grant data fair value (in dollars per share)
Outstanding, beginning of year (in dollars per share)	$ 14.24	$ 14.60	$ 0
Granted (in dollars per share)	11.40	14	14.60
Forfeited (in dollars per share)	13.16	14.29
Change in estimated restricted shares considerable probable of vesting (in dollars per share)	13.06	14.60
Outstanding, end of year (in dollars per share)	$ 12.91	$ 14.24	$ 14.60

Non-controlling interests - Nar

Non-controlling interests - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Noncontrolling Interest [Line Items]
Non-controlling interests	$ 35,674,000	$ 16,157,000
Noncontrolling interest, increase from contributed capital		60,000,000	$ 6,200,000
Third Point Reinsurance Opportunities Fund Ltd
Noncontrolling Interest [Line Items]
Payments of Capital Distribution		119,400,000	6,200,000
Third Point Reinsurance Company Ltd
Noncontrolling Interest [Line Items]
Payments of Capital Distribution		$ 59,400,000	0
Hiscox | Catastrophe Fund Manager
Noncontrolling Interest [Line Items]
Ownership percentage		15.00%
Joint Venture - Third Point Advisors LLC share
Noncontrolling Interest [Line Items]
Distributions	$ 1,000,000	$ 25,000,000	51,000,000
Cayman Holdco
Noncontrolling Interest [Line Items]
Ownership percentage	13.80%	10.80%
Estimated fair value of investment	$ 37,600,000	$ 2,400,000
Proceeds from Limited Partnership Investments	35,500,000
Third Point Hellenic Recovery US Feeder Fund, L.P.
Noncontrolling Interest [Line Items]
Noncontrolling interest, increase from contributed capital	10,600,000	$ 11,400,000
Distributions	$ 200,000		300,000
Ownership percentage	2.80%	3.00%
Estimated fair value of investment	$ 5,500,000	$ 5,400,000
Committed capital, amount called	$ 0		$ 700,000
TP DR Holdings LLC
Noncontrolling Interest [Line Items]
Equity method investment	100.00%
Equity method investment, interest in equity	7.20%
Equity method investments, equity balance	$ 900,000	0
Equity method investments, interest in debt	13.70%
Equity method investments, debt	$ 8,600,000	$ 0
Fair value of equity method investments	9,500,000
TP DR Holdings LLC | Stock
Noncontrolling Interest [Line Items]
Cash contributions to equity method investments	7,200,000
TP DR Holdings LLC | Cash
Noncontrolling Interest [Line Items]
Cash contributions to equity method investments	$ 1,900,000

Non-controlling interests - Inc

Non-controlling interests - Income Attributable to Non-controlling Interests (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Noncontrolling Interest [Line Items]
Income (loss) attributable to non-controlling interests	$ 1,241	$ (49)	$ 6,315
Catastrophe Fund
Noncontrolling Interest [Line Items]
Income (loss) attributable to non-controlling interests	0	(121)	4,748
Catastrophe Fund Manager
Noncontrolling Interest [Line Items]
Income (loss) attributable to non-controlling interests	0	19	(23)
Joint Venture - Third Point Advisors LLC share
Noncontrolling Interest [Line Items]
Income (loss) attributable to non-controlling interests	$ 1,241	$ 53	$ 1,590

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Weighted-average number of common shares outstanding:
Basic number of common shares outstanding (in shares)	104,072,283	103,780,196	104,132,797	104,257,874	104,217,321	104,117,448	103,927,761	103,753,065	104,060,052	104,003,820	103,287,693
Dilutive effect of options (in shares)									633,955	0	1,468,521
Dilutive effect of warrants (in shares)									709,499	0	1,634,845
Dilutive effect of restricted shares with service and performance condition									160,278	0	0
Diluted number of common shares outstanding (in shares)	104,072,283	105,795,313	105,233,921	104,257,874	106,635,451	104,117,448	106,696,874	106,144,183	105,563,784	104,003,820	106,391,059
Basic earnings (loss) per common share:
Net income (loss)	$ (46,693)	$ 72,081	$ 53,376	$ (51,129)	$ 42,193	$ (195,715)	$ 15,662	$ 50,470	$ 27,635	$ (87,390)	$ 50,395
Income allocated to participating shares									(88)	0	(328)
Net income (loss) available to common shareholders									$ 27,547	$ (87,390)	$ 50,067
Basic net income (loss) per common share (in dollars per share)	$ (0.45)	$ 0.69	$ 0.51	$ (0.49)	$ 0.40	$ (1.88)	$ 0.15	$ 0.48	$ 0.26	$ (0.84)	$ 0.48
Earnings Per Share, Diluted [Abstract]
Net income (loss)	$ (46,693)	$ 72,081	$ 53,376	$ (51,129)	$ 42,193	$ (195,715)	$ 15,662	$ 50,470	$ 27,635	$ (87,390)	$ 50,395
Income allocated to participating shares									(87)	0	(319)
Net income (loss) available to common shareholders									$ 27,548	$ (87,390)	$ 50,076
Diluted net income (loss) per common share (in dollars per share)	$ (0.45)	$ 0.68	$ 0.51	$ (0.49)	$ 0.39	$ (1.88)	$ 0.15	$ 0.47	$ 0.26	$ (0.84)	$ 0.47
Options
Earnings Per Share, Diluted [Abstract]
Antidilutive securities excluded from computation of earnings per share									4,369,171	4,501,991
Options and Restricted Shares
Earnings Per Share, Diluted [Abstract]
Antidilutive securities excluded from computation of earnings per share										4,859,053
Options and Warrants
Earnings Per Share, Diluted [Abstract]
Antidilutive securities excluded from computation of earnings per share										10,669,545

Related party transactions (Det

Related party transactions (Details) - Investments in securities, commodities, and derivative contracts - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Third Point Loan L.L.C.
Related Party Transaction [Line Items]
Estimated fair value of investment	$ 124,100,000	$ 65,000,000
Third Point Ventures LLC
Related Party Transaction [Line Items]
Estimated fair value of investment	$ 22,600,000	$ 0

Financial instruments with of97

Financial instruments with off-balance sheet risk or concentrations of credit risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Guarantor Obligations [Line Items]
Asset	$ 27,432	$ 35,337
Liability	(16,050)	(15,392)
Written credit derivatives
Guarantor Obligations [Line Items]
0-5 years	0	3,558
5 years or Greater Expiring Through 2046	3,943	2,878
Total Written Credit Default Swaps	3,943	6,436
Asset	0	0
Liability	(1,952)	(2,054)
Net Asset/(Liability)	(1,952)	(2,054)
Written credit derivatives | Single name (0 - 250)
Guarantor Obligations [Line Items]
0-5 years	0	0
5 years or Greater Expiring Through 2046	3,943	2,878
Total Written Credit Default Swaps	3,943	2,878
Asset	0	0
Liability	(1,952)	(1,480)
Net Asset/(Liability)	(1,952)	(1,480)
Written credit derivatives | Single name (251-500)
Guarantor Obligations [Line Items]
0-5 years		3,558
5 years or Greater Expiring Through 2046		0
Total Written Credit Default Swaps		3,558
Asset		0
Liability		(574)
Net Asset/(Liability)		(574)
Credit risk exposure
Guarantor Obligations [Line Items]
Maximum counterparty credit risk exposure	28,100	24,800
Written put options
Guarantor Obligations [Line Items]
Option contracts maximum payout	87,500	42,200
Written put options | Securities sold, not yet purchased
Guarantor Obligations [Line Items]
Options contracts at fair value	$ 1,300	$ 2,600
Written put options | Maximum
Guarantor Obligations [Line Items]
Option contracts maximum payout term	6 months

Commitments and Contingencies -

Commitments and Contingencies - Operating lease (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Operating leases, rent expense	$ 800	$ 700	$ 500
2,017	864
2,018	881
2,019	898
2,020	860
2,021	42
Thereafter	0
Total	$ 3,545

Commitments and Contingencies99

Commitments and Contingencies - Agreements and Investments (Details) - USD ($) $ in Thousands	Dec. 20, 2011	Dec. 31, 2016	Dec. 22, 2016	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Management fee percentage			1.50%	2.00%
Percentage of interest acquired in aircraft	31.25%
Duration aircraft acquired for	5 years
Unfunded capital commitments		$ 3,200
Management Fee Commitment
Other Commitments [Line Items]
2,017		709
2,018		736
2,019		763
2,020		792
2,021		548
Total		$ 3,548

Commitments and Contingencie100

Commitments and Contingencies - Financing (Details) - 7% Senior Unsecured Notes - Unsecured Debt	Dec. 31, 2016USD ($)
Other Commitments [Line Items]
Debt issued	$ 115,000,000
Interest rate	7.00%

Segment reporting - Operating S

Segment reporting - Operating Segments (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment									1
Segment Reporting Information [Line Items]
Gross premiums written	$ 80,779	$ 142,573	$ 196,866	$ 197,156	$ 99,155	$ 205,583	$ 184,342	$ 213,334	$ 617,374	$ 702,414	$ 613,300
Gross premiums ceded	27	(927)	(1,425)	0	(24)	(375)	(1,425)	(52)	(2,325)	(1,876)	(150)
Net premiums written	80,806	141,646	195,441	197,156	99,131	205,208	182,917	213,282	615,049	700,538	613,150
Change in net unearned premium reserves	111,277	(13,463)	(62,319)	(60,354)	35,235	3,597	(62,339)	(74,207)	(24,859)	(97,714)	(168,618)
Net premiums earned	192,083	128,183	133,122	136,802	134,366	208,805	120,578	139,075	590,190	602,824	444,532
Loss and loss adjustment expenses incurred, net	122,110	85,015	104,131	84,676	98,855	158,537	76,053	81,746	395,932	415,191	283,147
Acquisition costs, net	76,854	45,127	48,482	51,687	38,552	50,509	47,498	54,657	222,150	191,216	137,206
General and administrative expenses	5,482	12,354	10,243	11,288	10,236	9,822	14,267	11,708	39,367	46,033	40,008
Net investment income									657,449	652,440	460,361
Net investment income (loss)	35,767	(88,356)	(86,346)	40,110	(61,553)	193,156	(38,611)	(64,918)	(98,825)	28,074	(85,582)
Other expenses	(2,161)	(347)	(3,173)	(2,706)	(2,928)	(670)	(2,315)	(2,701)	(8,387)	(8,614)	(7,395)
Interest expense	(2,068)	(2,069)	(2,046)	(2,048)	(2,074)	(2,074)	(2,052)	(1,036)	(8,231)	(7,236)	0
Net foreign exchange gains	5,162	3,905	8,068	2,386	2,396	746	(139)	193	19,521	3,196	0
Income tax (expense) benefit	272	(2,484)	(5,310)	1,929	(2,863)	7,781	(708)	(1,305)	(5,593)	2,905	(5,648)
Income (loss) including non-controlling interests	(46,925)	73,048	54,151	(51,398)	42,807	(197,436)	16,157	51,033	28,876	(87,439)	56,710
(Income) loss attributable to non-controlling interests	232	(967)	(775)	269	(614)	1,721	(495)	(563)	(1,241)	49	(6,315)
Net income (loss)	$ (46,693)	$ 72,081	$ 53,376	$ (51,129)	$ 42,193	$ (195,715)	$ 15,662	$ 50,470	27,635	(87,390)	50,395
Property and Casualty Reinsurance
Segment Reporting Information [Line Items]
Gross premiums written									617,374	702,458	601,305
Catastrophe Risk Management
Segment Reporting Information [Line Items]
Gross premiums written									0	(44)	11,995
Operating Segments | Property and Casualty Reinsurance
Segment Reporting Information [Line Items]
Gross premiums written									617,374	702,458	601,305
Gross premiums ceded									(2,325)	(1,876)	(150)
Net premiums written									615,049	700,582	601,155
Change in net unearned premium reserves									(24,859)	(97,766)	(168,858)
Net premiums earned									590,190	602,816	432,297
Loss and loss adjustment expenses incurred, net									395,932	415,041	283,180
Acquisition costs, net									222,150	191,217	136,154
General and administrative expenses									22,160	24,815	22,515
Net investment income									640,242	631,073	441,849
Net underwriting loss									(50,052)	(28,257)	(9,552)
Net investment income (loss)									(16,931)	10,810	(11,305)
Other expenses									(8,387)	(8,614)	(7,395)
Interest expense									0	0
Net foreign exchange gains									0	0
Income tax (expense) benefit									0	0	0
Income (loss) including non-controlling interests									(41,508)	(47,681)	(5,642)
(Income) loss attributable to non-controlling interests									0	0	0
Net income (loss)									$ (41,508)	$ (47,681)	$ (5,642)
Loss ratio									67.10%	68.90%	65.50%
Acquisition cost ratio									37.60%	31.70%	31.50%
Composite ratio									104.70%	100.60%	97.00%
General and administrative expense ratio									3.80%	4.10%	5.20%
Combined ratio									108.50%	104.70%	102.20%
Operating Segments | Catastrophe Risk Management
Segment Reporting Information [Line Items]
Gross premiums written									$ 0	$ (44)	$ 11,995
Gross premiums ceded									0	0	0
Net premiums written									0	(44)	11,995
Change in net unearned premium reserves									0	52	240
Net premiums earned									0	8	12,235
Loss and loss adjustment expenses incurred, net									0	150	(33)
Acquisition costs, net									0	(1)	1,052
General and administrative expenses									0	447	3,113
Net investment income									0	596	4,132
Net investment income (loss)									0	(69)	(1,227)
Other expenses									0	0	0
Interest expense									0	0
Net foreign exchange gains									0	0
Income tax (expense) benefit									0	0	0
Income (loss) including non-controlling interests									0	(519)	9,330
(Income) loss attributable to non-controlling interests									0	102	(4,725)
Net income (loss)									0	(417)	4,605
Corporate
Segment Reporting Information [Line Items]
Gross premiums written									0	0	0
Gross premiums ceded									0	0	0
Net premiums written									0	0	0
Change in net unearned premium reserves									0	0	0
Net premiums earned									0	0	0
Loss and loss adjustment expenses incurred, net									0	0	0
Acquisition costs, net									0	0	0
General and administrative expenses									17,207	20,771	14,380
Net investment income									17,207	20,771	14,380
Net investment income (loss)									(81,894)	17,333	(73,050)
Other expenses									0	0	0
Interest expense									(8,231)	(7,236)
Net foreign exchange gains									19,521	3,196
Income tax (expense) benefit									(5,593)	2,905	(5,648)
Income (loss) including non-controlling interests									70,384	(39,239)	53,022
(Income) loss attributable to non-controlling interests									(1,241)	(53)	(1,590)
Net income (loss)									$ 69,143	$ (39,292)	$ 51,432

Segment reporting - Concentrati

Segment reporting - Concentration Risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue, Major Customer [Line Items]
Reinsurance balances receivable	$ 381,951	$ 294,313
Gross Premiums Written
Revenue, Major Customer [Line Items]
Concentration risk, percentage	100.00%	100.00%	100.00%
Contract Concentration Risk | Gross Premiums Written
Revenue, Major Customer [Line Items]
Concentration risk, percentage	100.00%	100.00%	100.00%
Contract Concentration Risk | Gross Premiums Written | Contract 1
Revenue, Major Customer [Line Items]
Concentration risk, percentage	16.10%	16.10%	20.40%
Contract Concentration Risk | Gross Premiums Written | Contract 2
Revenue, Major Customer [Line Items]
Concentration risk, percentage		13.00%	17.10%
Contract Concentration Risk | Gross Premiums Written | Total for contracts contributing greater than 10% each
Revenue, Major Customer [Line Items]
Concentration risk, percentage	16.10%	29.10%	37.50%
Contract Concentration Risk | Gross Premiums Written | Total for contracts contributing less than 10% each
Revenue, Major Customer [Line Items]
Concentration risk, percentage	83.90%	70.90%	62.50%
Customer Concentration Risk | Gross Premiums Written
Revenue, Major Customer [Line Items]
Concentration risk, percentage	100.00%	100.00%	100.00%
Customer Concentration Risk | Reinsurance Receivables
Revenue, Major Customer [Line Items]
Concentration risk, percentage	100.00%	100.00%
Reinsurance balances receivable	$ 381,951	$ 294,313
Customer Concentration Risk | Reinsurance Receivables | Counterparty 1
Revenue, Major Customer [Line Items]
Concentration risk, percentage	21.50%	29.60%
Reinsurance balances receivable	$ 82,162	$ 87,044
Customer Concentration Risk | Reinsurance Receivables | Other counterparties representing less than 10% each
Revenue, Major Customer [Line Items]
Concentration risk, percentage	78.50%	70.40%
Reinsurance balances receivable	$ 299,789	$ 207,269

Segment reporting - Customer Co

Segment reporting - Customer Concentration (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue, Major Customer [Line Items]
Gross premiums written	$ 80,779	$ 142,573	$ 196,866	$ 197,156	$ 99,155	$ 205,583	$ 184,342	$ 213,334	$ 617,374	$ 702,414	$ 613,300
Gross premiums as percentage of total gross premiums									100.00%	100.00%	100.00%
Prospective
Revenue, Major Customer [Line Items]
Gross premiums written									$ 617,374	$ 594,350	$ 530,169
Gross premiums as percentage of total gross premiums									100.00%	84.60%	86.40%
Retroactive
Revenue, Major Customer [Line Items]
Gross premiums written									$ 0	$ 108,064	$ 83,131
Gross premiums as percentage of total gross premiums									0.00%	15.40%	13.60%
Gross Premiums Written
Revenue, Major Customer [Line Items]
Gross premiums written									$ 617,374	$ 702,414	$ 613,300
Concentration risk, percentage									100.00%	100.00%	100.00%
Gross Premiums Written | Customer Concentration Risk
Revenue, Major Customer [Line Items]
Gross premiums written									$ 617,374	$ 702,414	$ 613,300
Concentration risk, percentage									100.00%	100.00%	100.00%
Gross Premiums Written | Customer Concentration Risk | Largest broker
Revenue, Major Customer [Line Items]
Gross premiums written									$ 240,172	$ 198,209	$ 199,563
Concentration risk, percentage									38.90%	28.20%	32.50%
Gross Premiums Written | Customer Concentration Risk | Second largest broker
Revenue, Major Customer [Line Items]
Gross premiums written									$ 185,638	$ 163,832	$ 110,063
Concentration risk, percentage									30.10%	23.30%	17.90%
Gross Premiums Written | Customer Concentration Risk | Third largest broker
Revenue, Major Customer [Line Items]
Gross premiums written									$ 97,148	$ 91,554	$ 80,535
Concentration risk, percentage									15.70%	13.00%	13.10%
Gross Premiums Written | Customer Concentration Risk | Fourth largest broker
Revenue, Major Customer [Line Items]
Gross premiums written										$ 73,499	$ 61,777
Concentration risk, percentage										10.50%	10.10%
Gross Premiums Written | Customer Concentration Risk | Other
Revenue, Major Customer [Line Items]
Gross premiums written									$ 94,416	$ 175,320	$ 161,362
Concentration risk, percentage									15.30%	25.00%	26.40%
Property and Casualty Reinsurance
Revenue, Major Customer [Line Items]
Gross premiums written									$ 617,374	$ 702,458	$ 601,305
Gross premiums as percentage of total gross premiums									100.00%	100.00%	98.00%
Property and Casualty Reinsurance | Property
Revenue, Major Customer [Line Items]
Gross premiums written									$ 98,334	$ 114,215	$ 106,834
Gross premiums as percentage of total gross premiums									15.90%	16.20%	17.40%
Property and Casualty Reinsurance | Casualty
Revenue, Major Customer [Line Items]
Gross premiums written									$ 213,050	$ 327,064	$ 266,763
Gross premiums as percentage of total gross premiums									34.50%	46.60%	43.50%
Property and Casualty Reinsurance | Specialty
Revenue, Major Customer [Line Items]
Gross premiums written									$ 305,990	$ 261,179	$ 227,708
Gross premiums as percentage of total gross premiums									49.60%	37.20%	37.10%
Catastrophe Risk Management
Revenue, Major Customer [Line Items]
Gross premiums written									$ 0	$ (44)	$ 11,995
Gross premiums as percentage of total gross premiums									0.00%	0.00%	2.00%

Segment reporting - Geographic

Segment reporting - Geographic information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue from External Customer [Line Items]
Gross premiums written	$ 80,779	$ 142,573	$ 196,866	$ 197,156	$ 99,155	$ 205,583	$ 184,342	$ 213,334	$ 617,374	$ 702,414	$ 613,300
Gross Premiums Written
Revenue from External Customer [Line Items]
Gross premiums written									$ 617,374	$ 702,414	$ 613,300
Concentration risk, percentage									100.00%	100.00%	100.00%
Gross Premiums Written | United States
Revenue from External Customer [Line Items]
Gross premiums written									$ 332,849	$ 283,626	$ 339,061
Concentration risk, percentage									53.90%	40.40%	55.30%
Gross Premiums Written | United Kingdom
Revenue from External Customer [Line Items]
Gross premiums written									$ 187,625	$ 290,710	$ 176,522
Concentration risk, percentage									30.40%	41.40%	28.80%
Gross Premiums Written | Bermuda
Revenue from External Customer [Line Items]
Gross premiums written									$ 96,900	$ 128,078	$ 97,717
Concentration risk, percentage									15.70%	18.20%	15.90%

Statutory Requirements (Details

Statutory Requirements (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)member	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Statutory Accounting Practices [Line Items]
Liquidity ratio, minimum percentage required	75.00%
Bermuda
Statutory Accounting Practices [Line Items]
Actual statutory capital and surplus	$ 1,259,876	$ 1,044,340
Required statutory capital and surplus	642,349	612,617
Statutory net income	$ 35,096	(68,188)	$ 56,686
Statutory maximum percentage available for dividend payments	25.00%
Dividend payments with regulatory approval, number of members required | member	2
Statutory amount available for dividend payments without regulatory approval	$ 315,000	261,100
United States
Statutory Accounting Practices [Line Items]
Actual statutory capital and surplus	282,552	246,948
Required statutory capital and surplus	89,557	83,617
Statutory net income	$ 2,701	(7,510)
Statutory maximum percentage available for dividend payments	25.00%
Dividend payments with regulatory approval, number of members required | member	2
Minimum Net Capital Required for Entity	$ 250,000
Statutory amount available for dividend payments without regulatory approval	$ 19,600	$ 11,100

Supplemental guarantor infor106

Supplemental guarantor information - Condensed Consolidating Balance Sheet (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Assets
Equity securities	$ 1,506,854,000	$ 1,231,077,000
Debt securities	1,057,957,000	1,034,247,000
Other investments, at fair value	82,701,000	51,920,000
Total investments in securities	2,647,512,000	2,317,244,000
Cash and cash equivalents	9,951,000	20,407,000	$ 28,734,000	$ 31,625,000
Restricted cash and cash equivalents	298,940,000	330,915,000
Investment in subsidiaries	0	0
Due from brokers	284,591,000	326,971,000
Derivative assets, at fair value	27,432,000	35,337,000
Interest and dividends receivable	6,505,000	10,687,000
Reinsurance balances receivable	381,951,000	294,313,000
Deferred acquisition costs, net	221,618,000	197,093,000
Amounts due from (to) affiliates	0	0
Other assets	17,144,000	12,141,000
Total assets	3,895,644,000	3,545,108,000
Liabilities
Accounts payable and accrued expenses	10,321,000	11,966,000
Reinsurance balances payable	43,171,000	24,119,000
Deposit liabilities	104,905,000	83,955,000	145,430,000	120,946,000
Unearned premium reserves	557,076,000	531,710,000
Loss and loss adjustment expense reserves	605,129,000	466,047,000
Securities sold, not yet purchased, at fair value	92,668,000	314,353,000
Securities sold under an agreement to repurchase	0	8,944,000
Due to brokers	899,601,000	574,962,000
Derivative liabilities, at fair value	16,050,000	15,392,000
Interest and dividends payable	3,443,000	4,400,000
Senior notes payable, net of deferred costs	113,555,000	113,377,000
Total liabilities	2,445,919,000	2,149,225,000
Shareholders’ equity
Common shares	10,650,000	10,548,000
Treasury Stock, Value	(7,389,000)	0
Additional paid-in capital	1,094,568,000	1,080,591,000
Retained earnings	316,222,000	288,587,000
Total shareholders’ equity	1,414,051,000	1,379,726,000
Non-controlling interests	35,674,000	16,157,000
Shareholders’ equity attributable to shareholders	1,449,725,000	1,395,883,000	1,552,048,000
Total liabilities and shareholders’ equity	3,895,644,000	3,545,108,000
Eliminations
Assets
Equity securities	0	0
Debt securities	0	0
Other investments, at fair value	0	0
Total investments in securities	0	0
Cash and cash equivalents	0	0	0	0
Restricted cash and cash equivalents	0	0
Investment in subsidiaries	(1,848,024,000)	(1,803,012,000)
Due from brokers	0	0
Derivative assets, at fair value	0	0
Interest and dividends receivable	0	0
Reinsurance balances receivable	0	0
Deferred acquisition costs, net	0	0
Amounts due from (to) affiliates	0	0
Other assets	0	0
Total assets	(1,848,024,000)	(1,803,012,000)
Liabilities
Accounts payable and accrued expenses	0	0
Reinsurance balances payable	0	0
Deposit liabilities	0	0
Unearned premium reserves	0	0
Loss and loss adjustment expense reserves	0	0
Securities sold, not yet purchased, at fair value	0	0
Securities sold under an agreement to repurchase		0
Due to brokers	0	0
Derivative liabilities, at fair value	0	0
Interest and dividends payable	0	0
Senior notes payable, net of deferred costs	0	0
Total liabilities	0	0
Shareholders’ equity
Common shares	(1,250,000)	(1,250,000)
Treasury Stock, Value	0
Additional paid-in capital	(1,694,283,000)	(1,669,212,000)
Retained earnings	(152,491,000)	(132,550,000)
Total shareholders’ equity	(1,848,024,000)	(1,803,012,000)
Non-controlling interests	0	0
Shareholders’ equity attributable to shareholders	(1,848,024,000)	(1,803,012,000)
Total liabilities and shareholders’ equity	(1,848,024,000)	(1,803,012,000)
Parent Guarantor | Reportable Legal Entities
Assets
Equity securities	0	0
Debt securities	0	0
Other investments, at fair value	0	0
Total investments in securities	0	0
Cash and cash equivalents	1,629,000	308,000	140,000	294,000
Restricted cash and cash equivalents	0	0
Investment in subsidiaries	1,413,078,000	1,382,336,000
Due from brokers	0	0
Derivative assets, at fair value	0	0
Interest and dividends receivable	0	0
Reinsurance balances receivable	0	0
Deferred acquisition costs, net	0	0
Amounts due from (to) affiliates	(142,000)	(346,000)
Other assets	637,000	564,000
Total assets	1,415,202,000	1,382,862,000
Liabilities
Accounts payable and accrued expenses	1,151,000	3,136,000
Reinsurance balances payable	0	0
Deposit liabilities	0	0
Unearned premium reserves	0	0
Loss and loss adjustment expense reserves	0	0
Securities sold, not yet purchased, at fair value	0	0
Securities sold under an agreement to repurchase		0
Due to brokers	0	0
Derivative liabilities, at fair value	0	0
Interest and dividends payable	0	0
Senior notes payable, net of deferred costs	0	0
Total liabilities	1,151,000	3,136,000
Shareholders’ equity
Common shares	10,650,000	10,548,000
Treasury Stock, Value	(7,389,000)
Additional paid-in capital	1,094,568,000	1,080,591,000
Retained earnings	316,222,000	288,587,000
Total shareholders’ equity	1,414,051,000	1,379,726,000
Non-controlling interests	0	0
Shareholders’ equity attributable to shareholders	1,414,051,000	1,379,726,000
Total liabilities and shareholders’ equity	1,415,202,000	1,382,862,000
TPRUSA | Reportable Legal Entities
Assets
Equity securities	0	0
Debt securities	0	0
Other investments, at fair value	0	0
Total investments in securities	0	0
Cash and cash equivalents	79,000	5,000	0	0
Restricted cash and cash equivalents	0	0
Investment in subsidiaries	269,622,000	261,083,000
Due from brokers	0	0
Derivative assets, at fair value	0	0
Interest and dividends receivable	0	0
Reinsurance balances receivable	0	0
Deferred acquisition costs, net	0	0
Amounts due from (to) affiliates	(8,394,000)	(230,000)
Other assets	5,507,000	2,613,000
Total assets	266,814,000	263,471,000
Liabilities
Accounts payable and accrued expenses	40,000	40,000
Reinsurance balances payable	0	0
Deposit liabilities	0	0
Unearned premium reserves	0	0
Loss and loss adjustment expense reserves	0	0
Securities sold, not yet purchased, at fair value	0	0
Securities sold under an agreement to repurchase		0
Due to brokers	0	0
Derivative liabilities, at fair value	0	0
Interest and dividends payable	3,057,000	3,055,000
Senior notes payable, net of deferred costs	113,555,000	113,377,000
Total liabilities	116,652,000	116,472,000
Shareholders’ equity
Common shares	0	0
Treasury Stock, Value	0
Additional paid-in capital	165,456,000	159,618,000
Retained earnings	(15,294,000)	(12,619,000)
Total shareholders’ equity	150,162,000	146,999,000
Non-controlling interests	0	0
Shareholders’ equity attributable to shareholders	150,162,000	146,999,000
Total liabilities and shareholders’ equity	266,814,000	263,471,000
Non-Guarantor Subsidiaries | Reportable Legal Entities
Assets
Equity securities	1,506,854,000	1,231,077,000
Debt securities	1,057,957,000	1,034,247,000
Other investments, at fair value	82,701,000	51,920,000
Total investments in securities	2,647,512,000	2,317,244,000
Cash and cash equivalents	8,243,000	20,094,000	$ 28,594,000	$ 31,331,000
Restricted cash and cash equivalents	298,940,000	330,915,000
Investment in subsidiaries	165,324,000	159,593,000
Due from brokers	284,591,000	326,971,000
Derivative assets, at fair value	27,432,000	35,337,000
Interest and dividends receivable	6,505,000	10,687,000
Reinsurance balances receivable	381,951,000	294,313,000
Deferred acquisition costs, net	221,618,000	197,093,000
Amounts due from (to) affiliates	8,536,000	576,000
Other assets	11,000,000	8,964,000
Total assets	4,061,652,000	3,701,787,000
Liabilities
Accounts payable and accrued expenses	9,130,000	8,790,000
Reinsurance balances payable	43,171,000	24,119,000
Deposit liabilities	104,905,000	83,955,000
Unearned premium reserves	557,076,000	531,710,000
Loss and loss adjustment expense reserves	605,129,000	466,047,000
Securities sold, not yet purchased, at fair value	92,668,000	314,353,000
Securities sold under an agreement to repurchase		8,944,000
Due to brokers	899,601,000	574,962,000
Derivative liabilities, at fair value	16,050,000	15,392,000
Interest and dividends payable	386,000	1,345,000
Senior notes payable, net of deferred costs	0	0
Total liabilities	2,328,116,000	2,029,617,000
Shareholders’ equity
Common shares	1,250,000	1,250,000
Treasury Stock, Value	0
Additional paid-in capital	1,528,827,000	1,509,594,000
Retained earnings	167,785,000	145,169,000
Total shareholders’ equity	1,697,862,000	1,656,013,000
Non-controlling interests	35,674,000	16,157,000
Shareholders’ equity attributable to shareholders	1,733,536,000	1,672,170,000
Total liabilities and shareholders’ equity	4,061,652,000	$ 3,701,787,000
Financial Guarantee [Member] | TPRUSA
Condensed Balance Sheet Statements, Captions [Line Items]
Debt issued	$ 115,000,000

Supplemental guarantor infor107

Supplemental guarantor information - Condensed Consolidating Statement of Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Gross premiums written	$ 80,779	$ 142,573	$ 196,866	$ 197,156	$ 99,155	$ 205,583	$ 184,342	$ 213,334	$ 617,374	$ 702,414	$ 613,300
Gross premiums ceded	27	(927)	(1,425)	0	(24)	(375)	(1,425)	(52)	(2,325)	(1,876)	(150)
Net premiums written	80,806	141,646	195,441	197,156	99,131	205,208	182,917	213,282	615,049	700,538	613,150
Change in net unearned premium reserves	111,277	(13,463)	(62,319)	(60,354)	35,235	3,597	(62,339)	(74,207)	(24,859)	(97,714)	(168,618)
Net premiums earned	192,083	128,183	133,122	136,802	134,366	208,805	120,578	139,075	590,190	602,824	444,532
Net investment income (loss)	(35,767)	88,356	86,346	(40,110)	61,553	(193,156)	38,611	64,918	98,825	(28,074)	85,582
Equity in earnings (losses) of subsidiaries									0	0	0
Total revenues	156,316	216,539	219,468	96,692	195,919	15,649	159,189	203,993	689,015	574,750	530,114
Expenses
Loss and loss adjustment expenses incurred, net	122,110	85,015	104,131	84,676	98,855	158,537	76,053	81,746	395,932	415,191	283,147
Acquisition costs, net	76,854	45,127	48,482	51,687	38,552	50,509	47,498	54,657	222,150	191,216	137,206
General and administrative expenses	5,482	12,354	10,243	11,288	10,236	9,822	14,267	11,708	39,367	46,033	40,008
Other expenses	2,161	347	3,173	2,706	2,928	670	2,315	2,701	8,387	8,614	7,395
Interest expense	2,068	2,069	2,046	2,048	2,074	2,074	2,052	1,036	8,231	7,236	0
Foreign currency gain (loss)	(5,162)	(3,905)	(8,068)	(2,386)	(2,396)	(746)	139	(193)	(19,521)	(3,196)	0
Total expenses	203,513	141,007	160,007	150,019	150,249	220,866	142,324	151,655	654,546	665,094	467,756
Income (loss) before income tax (expense) benefit	(47,197)	75,532	59,461	(53,327)	45,670	(205,217)	16,865	52,338	34,469	(90,344)	62,358
Income tax (expense) benefit	272	(2,484)	(5,310)	1,929	(2,863)	7,781	(708)	(1,305)	(5,593)	2,905	(5,648)
Income (loss) including non-controlling interests	(46,925)	73,048	54,151	(51,398)	42,807	(197,436)	16,157	51,033	28,876	(87,439)	56,710
(Income) loss attributable to non-controlling interests	232	(967)	(775)	269	(614)	1,721	(495)	(563)	(1,241)	49	(6,315)
Net income (loss)	$ (46,693)	$ 72,081	$ 53,376	$ (51,129)	$ 42,193	$ (195,715)	$ 15,662	$ 50,470	27,635	(87,390)	50,395
Reportable Legal Entities | Parent Guarantor
Revenues
Gross premiums written									0	0	0
Gross premiums ceded									0	0	0
Net premiums written									0	0	0
Change in net unearned premium reserves									0	0	0
Net premiums earned									0	0	0
Net investment income (loss)									0	0	0
Equity in earnings (losses) of subsidiaries									32,347	(79,053)	56,238
Total revenues									32,347	(79,053)	56,238
Expenses
Loss and loss adjustment expenses incurred, net									0	0	0
Acquisition costs, net									0	0	0
General and administrative expenses									4,712	8,337	5,843
Other expenses									0	0	0
Interest expense									0	0
Foreign currency gain (loss)									0	0
Total expenses									4,712	8,337	5,843
Income (loss) before income tax (expense) benefit									27,635	(87,390)	50,395
Income tax (expense) benefit									0	0	0
Income (loss) including non-controlling interests									27,635	(87,390)	50,395
(Income) loss attributable to non-controlling interests									0	0	0
Net income (loss)									27,635	(87,390)	50,395
Reportable Legal Entities | TPRUSA
Revenues
Gross premiums written									0	0	0
Gross premiums ceded									0	0	0
Net premiums written									0	0	0
Change in net unearned premium reserves									0	0	0
Net premiums earned									0	0	0
Net investment income (loss)									0	0	0
Equity in earnings (losses) of subsidiaries									2,701	(7,510)	0
Total revenues									2,701	(7,510)	0
Expenses
Loss and loss adjustment expenses incurred, net									0	0	0
Acquisition costs, net									0	0	0
General and administrative expenses									40	231	255
Other expenses									0	0	0
Interest expense									8,231	7,236
Foreign currency gain (loss)									0	0
Total expenses									8,271	7,467	255
Income (loss) before income tax (expense) benefit									(5,570)	(14,977)	(255)
Income tax (expense) benefit									2,895	2,613	0
Income (loss) including non-controlling interests									(2,675)	(12,364)	(255)
(Income) loss attributable to non-controlling interests									0	0	0
Net income (loss)									(2,675)	(12,364)	(255)
Reportable Legal Entities | Non-Guarantor Subsidiaries
Revenues
Gross premiums written									617,374	702,414	613,300
Gross premiums ceded									(2,325)	(1,876)	(150)
Net premiums written									615,049	700,538	613,150
Change in net unearned premium reserves									(24,859)	(97,714)	(168,618)
Net premiums earned									590,190	602,824	444,532
Net investment income (loss)									98,825	(28,074)	85,582
Equity in earnings (losses) of subsidiaries									(107)	(25)	0
Total revenues									688,908	574,725	530,114
Expenses
Loss and loss adjustment expenses incurred, net									395,932	415,191	283,147
Acquisition costs, net									222,150	191,216	137,206
General and administrative expenses									34,615	37,465	33,910
Other expenses									8,387	8,614	7,395
Interest expense									0	0
Foreign currency gain (loss)									(19,521)	(3,196)
Total expenses									641,563	649,290	461,658
Income (loss) before income tax (expense) benefit									47,345	(74,565)	68,456
Income tax (expense) benefit									(8,488)	292	(5,648)
Income (loss) including non-controlling interests									38,857	(74,273)	62,808
(Income) loss attributable to non-controlling interests									(1,241)	49	(6,315)
Net income (loss)									37,616	(74,224)	56,493
Eliminations
Revenues
Gross premiums written									0	0	0
Gross premiums ceded									0	0	0
Net premiums written									0	0	0
Change in net unearned premium reserves									0	0	0
Net premiums earned									0	0	0
Net investment income (loss)									0	0	0
Equity in earnings (losses) of subsidiaries									(34,941)	86,588	(56,238)
Total revenues									(34,941)	86,588	(56,238)
Expenses
Loss and loss adjustment expenses incurred, net									0	0	0
Acquisition costs, net									0	0	0
General and administrative expenses									0	0	0
Other expenses									0	0	0
Interest expense									0	0
Foreign currency gain (loss)									0	0
Total expenses									0	0	0
Income (loss) before income tax (expense) benefit									(34,941)	86,588	(56,238)
Income tax (expense) benefit									0	0	0
Income (loss) including non-controlling interests									(34,941)	86,588	(56,238)
(Income) loss attributable to non-controlling interests									0	0	0
Net income (loss)									$ (34,941)	$ 86,588	$ (56,238)

Supplemental guarantor infor108

Supplemental guarantor information - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating activities
Income (loss) including non-controlling interests	$ (46,925)	$ 73,048	$ 54,151	$ (51,398)	$ 42,807	$ (197,436)	$ 16,157	$ 51,033	$ 28,876	$ (87,439)	$ 56,710
Adjustments to reconcile income (loss) including non-controlling interests to net cash provided by operating activities:
Equity in earnings of subsidiaries									0	0	0
Share compensation expense									8,938	10,871	9,258
Net interest (income) expense on deposit liabilities									(164)	6,471	4,346
Net unrealized (gain) loss on investments and derivatives									(72,083)	32,354	85,057
Net realized gain on investments and derivatives									(33,179)	(16,655)	(193,957)
Foreign currency gain (loss)	(5,162)	$ (3,905)	$ (8,068)	(2,386)	(2,396)	$ (746)	$ 139	(193)	(19,521)	(3,196)	0
Net foreign exchange gains									5,118	324	(1,044)
Changes in assets and liabilities:
Reinsurance balances receivable									(86,612)	8,768	(111,886)
Deferred acquisition costs, net									(24,525)	(41,192)	(64,708)
Other assets									(5,003)	(7,815)	8,349
Interest and dividends receivable, net									3,225	(4,382)	(38)
Unearned premium reserves									25,366	97,901	168,622
Loss and loss adjustment expense reserves									(156,644)	(192,433)	(143,031)
Accounts payable and accrued expenses									(2,095)	1,881	629
Reinsurance balances payable									19,786	(2,548)	18,061
Amounts due from (to) affiliates											0
Amounts due to affiliates									0	0
Net cash provided by operating activities									4,771	187,776	122,430
Investing activities
Purchases of investments									(3,729,944)	(3,360,626)	(3,114,906)
Proceeds from sales of investments									3,504,598	2,829,523	2,857,404
Purchases of investments to cover short sales									(1,264,404)	(543,936)	(232,568)
Proceeds from short sales of investments									1,046,422	792,344	278,569
Change in due to/from brokers, net									367,019	(6,377)	307,884
Decrease in securities purchased under an agreement to sell									0	29,852	8,294
Increase (decrease) in securities sold under an agreement to repurchase									(8,944)	8,944	0
Change in restricted cash and cash equivalents									31,975	86,392	(223,730)
Contributed capital to subsidiaries									0	0
Proceeds from Contributed Capital									0	0
Net cash used in investing activities									(53,278)	(163,884)	(119,053)
Financing activities
Proceeds from issuance of common shares, net of costs									5,141	4,332	599
Purchases of common shares under share repurchase program									(7,389)	0	0
Proceeds from Issuance of Senior Long-term Debt										113,220
Increase (decrease) in deposit liabilities, net									22,023	(65,842)	18,048
Non-controlling interest in investment affiliate, net									18,276	(24,137)	(31,066)
Non-controlling interest in Catastrophe Fund									0	(60,032)	6,151
Non-controlling interest in Catastrophe Fund Manager									0	240	0
Dividend received by (paid to) parent									0	0	0
Net cash provided by (used in) financing activities									38,051	(32,219)	(6,268)
Net increase (decrease) in cash and cash equivalents									(10,456)	(8,327)	(2,891)
Cash and cash equivalents at beginning of year				20,407				28,734	20,407	28,734	31,625
Cash and cash equivalents at end of year	9,951				20,407				9,951	20,407	28,734
Reportable Legal Entities | Parent Guarantor
Operating activities
Income (loss) including non-controlling interests									27,635	(87,390)	50,395
Adjustments to reconcile income (loss) including non-controlling interests to net cash provided by operating activities:
Equity in earnings of subsidiaries									(32,347)	79,053	(56,238)
Share compensation expense									543	542	1,080
Net interest (income) expense on deposit liabilities										0	0
Net unrealized (gain) loss on investments and derivatives									0	0	0
Net realized gain on investments and derivatives									0	0	0
Foreign currency gain (loss)									0	0
Net foreign exchange gains									0	0	0
Changes in assets and liabilities:
Reinsurance balances receivable									0	0	0
Deferred acquisition costs, net									0	0	0
Other assets									(73)	36	120
Interest and dividends receivable, net									0	0	0
Unearned premium reserves									0	0	0
Loss and loss adjustment expense reserves									0	0	0
Accounts payable and accrued expenses									(1,985)	1,910	984
Reinsurance balances payable									0	0	0
Amounts due from (to) affiliates											(5,094)
Amounts due to affiliates									(204)	1,685
Net cash provided by operating activities									(6,431)	(4,164)	(8,753)
Investing activities
Purchases of investments									0	0	0
Proceeds from sales of investments									0	0	0
Purchases of investments to cover short sales									0	0	0
Proceeds from short sales of investments									0	0	0
Change in due to/from brokers, net									0	0	0
Decrease in securities purchased under an agreement to sell										0	0
Increase (decrease) in securities sold under an agreement to repurchase									0	0
Change in restricted cash and cash equivalents									0	0	0
Contributed capital to subsidiaries									(5,000)	(158,000)
Proceeds from Contributed Capital									0	0
Net cash used in investing activities									(5,000)	(158,000)	0
Financing activities
Proceeds from issuance of common shares, net of costs									5,141	4,332	599
Purchases of common shares under share repurchase program									(7,389)
Proceeds from Issuance of Senior Long-term Debt										0
Increase (decrease) in deposit liabilities, net									0	0	0
Non-controlling interest in investment affiliate, net									0	0	0
Non-controlling interest in Catastrophe Fund										0	0
Non-controlling interest in Catastrophe Fund Manager										0
Dividend received by (paid to) parent									15,000	158,000	8,000
Net cash provided by (used in) financing activities									12,752	162,332	8,599
Net increase (decrease) in cash and cash equivalents									1,321	168	(154)
Cash and cash equivalents at beginning of year				308				140	308	140	294
Cash and cash equivalents at end of year	1,629				308				1,629	308	140
Reportable Legal Entities | TPRUSA
Operating activities
Income (loss) including non-controlling interests									(2,675)	(12,364)	(255)
Adjustments to reconcile income (loss) including non-controlling interests to net cash provided by operating activities:
Equity in earnings of subsidiaries									(2,701)	7,510	0
Share compensation expense										0	0
Net interest (income) expense on deposit liabilities										0	0
Net unrealized (gain) loss on investments and derivatives									0	0	0
Net realized gain on investments and derivatives									0	0	0
Foreign currency gain (loss)									0	0
Net foreign exchange gains									178	157	0
Changes in assets and liabilities:
Reinsurance balances receivable									0	0	0
Deferred acquisition costs, net									0	0	0
Other assets									(2,894)	(1,947)	(666)
Interest and dividends receivable, net									2	3,055	0
Unearned premium reserves									0	0	0
Loss and loss adjustment expense reserves									0	0	0
Accounts payable and accrued expenses									0	(478)	518
Reinsurance balances payable									0	0	0
Amounts due from (to) affiliates											403
Amounts due to affiliates									8,164	(173)
Net cash provided by operating activities									74	(4,240)	0
Investing activities
Purchases of investments									0	0	0
Proceeds from sales of investments									0	0	0
Purchases of investments to cover short sales									0	0	0
Proceeds from short sales of investments									0	0	0
Change in due to/from brokers, net									0	0	0
Decrease in securities purchased under an agreement to sell										0	0
Increase (decrease) in securities sold under an agreement to repurchase									0	0
Change in restricted cash and cash equivalents									0	0	0
Contributed capital to subsidiaries									5,000	(266,975)
Proceeds from Contributed Capital									(5,000)	158,000
Net cash used in investing activities									0	(108,975)	0
Financing activities
Proceeds from issuance of common shares, net of costs									0	0	0
Purchases of common shares under share repurchase program									0
Proceeds from Issuance of Senior Long-term Debt										113,220
Increase (decrease) in deposit liabilities, net									0	0	0
Non-controlling interest in investment affiliate, net									0	0	0
Non-controlling interest in Catastrophe Fund										0	0
Non-controlling interest in Catastrophe Fund Manager										0
Dividend received by (paid to) parent									0	0	0
Net cash provided by (used in) financing activities									0	113,220	0
Net increase (decrease) in cash and cash equivalents									74	5	0
Cash and cash equivalents at beginning of year				5				0	5	0	0
Cash and cash equivalents at end of year	79				5				79	5	0
Reportable Legal Entities | Non-Guarantor Subsidiaries
Operating activities
Income (loss) including non-controlling interests									38,857	(74,273)	62,808
Adjustments to reconcile income (loss) including non-controlling interests to net cash provided by operating activities:
Equity in earnings of subsidiaries									107	25	0
Share compensation expense									8,395	10,329	8,178
Net interest (income) expense on deposit liabilities									(164)	6,471	4,346
Net unrealized (gain) loss on investments and derivatives									(72,083)	32,354	85,057
Net realized gain on investments and derivatives									(33,179)	(16,655)	(193,957)
Foreign currency gain (loss)									(19,521)	(3,196)
Net foreign exchange gains									4,940	167	(1,044)
Changes in assets and liabilities:
Reinsurance balances receivable									(86,612)	8,768	(111,886)
Deferred acquisition costs, net									(24,525)	(41,192)	(64,708)
Other assets									(2,036)	(5,904)	8,895
Interest and dividends receivable, net									3,223	(7,437)	(38)
Unearned premium reserves									25,366	97,901	168,622
Loss and loss adjustment expense reserves									(156,644)	(192,433)	(143,031)
Accounts payable and accrued expenses									(110)	449	(873)
Reinsurance balances payable									19,786	(2,548)	18,061
Amounts due from (to) affiliates											4,691
Amounts due to affiliates									(7,960)	(1,512)
Net cash provided by operating activities									11,128	196,180	131,183
Investing activities
Purchases of investments									(3,729,944)	(3,360,626)	(3,114,906)
Proceeds from sales of investments									3,504,598	2,829,523	2,857,404
Purchases of investments to cover short sales									(1,264,404)	(543,936)	(232,568)
Proceeds from short sales of investments									1,046,422	792,344	278,569
Change in due to/from brokers, net									367,019	(6,377)	307,884
Decrease in securities purchased under an agreement to sell										29,852	8,294
Increase (decrease) in securities sold under an agreement to repurchase									(8,944)	8,944
Change in restricted cash and cash equivalents									31,975	86,392	(223,730)
Contributed capital to subsidiaries									0	(25)
Proceeds from Contributed Capital									5,000	267,000
Net cash used in investing activities									(48,278)	103,091	(119,053)
Financing activities
Proceeds from issuance of common shares, net of costs									0	0	0
Purchases of common shares under share repurchase program									0
Proceeds from Issuance of Senior Long-term Debt										0
Increase (decrease) in deposit liabilities, net									22,023	(65,842)	18,048
Non-controlling interest in investment affiliate, net									18,276	(24,137)	(31,066)
Non-controlling interest in Catastrophe Fund										(60,032)	6,151
Non-controlling interest in Catastrophe Fund Manager										240
Dividend received by (paid to) parent									(15,000)	(158,000)	(8,000)
Net cash provided by (used in) financing activities									25,299	(307,771)	(14,867)
Net increase (decrease) in cash and cash equivalents									(11,851)	(8,500)	(2,737)
Cash and cash equivalents at beginning of year				20,094				28,594	20,094	28,594	31,331
Cash and cash equivalents at end of year	8,243				20,094				8,243	20,094	28,594
Eliminations
Operating activities
Income (loss) including non-controlling interests									(34,941)	86,588	(56,238)
Adjustments to reconcile income (loss) including non-controlling interests to net cash provided by operating activities:
Equity in earnings of subsidiaries									34,941	(86,588)	56,238
Share compensation expense									0	0	0
Net interest (income) expense on deposit liabilities									0	0	0
Net unrealized (gain) loss on investments and derivatives									0	0	0
Net realized gain on investments and derivatives									0	0	0
Foreign currency gain (loss)									0	0
Net foreign exchange gains									0	0	0
Changes in assets and liabilities:
Reinsurance balances receivable									0	0	0
Deferred acquisition costs, net									0	0	0
Other assets									0	0	0
Interest and dividends receivable, net									0	0	0
Unearned premium reserves									0	0	0
Loss and loss adjustment expense reserves									0	0	0
Accounts payable and accrued expenses									0	0	0
Reinsurance balances payable									0	0	0
Amounts due from (to) affiliates											0
Amounts due to affiliates									0	0
Net cash provided by operating activities									0	0	0
Investing activities
Purchases of investments									0	0	0
Proceeds from sales of investments									0	0	0
Purchases of investments to cover short sales									0	0	0
Proceeds from short sales of investments									0	0	0
Change in due to/from brokers, net									0	0	0
Decrease in securities purchased under an agreement to sell										0	0
Increase (decrease) in securities sold under an agreement to repurchase									0	0
Change in restricted cash and cash equivalents									0	0	0
Contributed capital to subsidiaries									0	425,000
Proceeds from Contributed Capital									0	(425,000)
Net cash used in investing activities									0	0	0
Financing activities
Proceeds from issuance of common shares, net of costs									0	0	0
Purchases of common shares under share repurchase program									0
Proceeds from Issuance of Senior Long-term Debt										0
Increase (decrease) in deposit liabilities, net									0	0	0
Non-controlling interest in investment affiliate, net									0	0	0
Non-controlling interest in Catastrophe Fund										0	0
Non-controlling interest in Catastrophe Fund Manager										0
Dividend received by (paid to) parent									0	0	0
Net cash provided by (used in) financing activities									0	0	0
Net increase (decrease) in cash and cash equivalents									0	0	0
Cash and cash equivalents at beginning of year				$ 0				$ 0	0	0	0
Cash and cash equivalents at end of year	$ 0				$ 0				$ 0	$ 0	$ 0

Quarterly Financial Results (De

Quarterly Financial Results (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Gross premiums written	$ 80,779	$ 142,573	$ 196,866	$ 197,156	$ 99,155	$ 205,583	$ 184,342	$ 213,334	$ 617,374	$ 702,414	$ 613,300
Gross premiums ceded	27	(927)	(1,425)	0	(24)	(375)	(1,425)	(52)	(2,325)	(1,876)	(150)
Net premiums written	80,806	141,646	195,441	197,156	99,131	205,208	182,917	213,282	615,049	700,538	613,150
Change in net unearned premium reserves	111,277	(13,463)	(62,319)	(60,354)	35,235	3,597	(62,339)	(74,207)	(24,859)	(97,714)	(168,618)
Net premiums earned	192,083	128,183	133,122	136,802	134,366	208,805	120,578	139,075	590,190	602,824	444,532
Net investment income (loss)	(35,767)	88,356	86,346	(40,110)	61,553	(193,156)	38,611	64,918	98,825	(28,074)	85,582
Total revenues	156,316	216,539	219,468	96,692	195,919	15,649	159,189	203,993	689,015	574,750	530,114
Expenses
Loss and loss adjustment expenses incurred, net	122,110	85,015	104,131	84,676	98,855	158,537	76,053	81,746	395,932	415,191	283,147
Acquisition costs, net	76,854	45,127	48,482	51,687	38,552	50,509	47,498	54,657	222,150	191,216	137,206
General and administrative expenses	5,482	12,354	10,243	11,288	10,236	9,822	14,267	11,708	39,367	46,033	40,008
Other expenses	2,161	347	3,173	2,706	2,928	670	2,315	2,701	8,387	8,614	7,395
Interest expense	2,068	2,069	2,046	2,048	2,074	2,074	2,052	1,036	8,231	7,236	0
Foreign currency gain (loss)	(5,162)	(3,905)	(8,068)	(2,386)	(2,396)	(746)	139	(193)	(19,521)	(3,196)	0
Total expenses	203,513	141,007	160,007	150,019	150,249	220,866	142,324	151,655	654,546	665,094	467,756
Income (loss) before income tax (expense) benefit	(47,197)	75,532	59,461	(53,327)	45,670	(205,217)	16,865	52,338	34,469	(90,344)	62,358
Income tax (expense) benefit	272	(2,484)	(5,310)	1,929	(2,863)	7,781	(708)	(1,305)	(5,593)	2,905	(5,648)
Income (loss) including non-controlling interests	(46,925)	73,048	54,151	(51,398)	42,807	(197,436)	16,157	51,033	28,876	(87,439)	56,710
(Income) loss attributable to non-controlling interests	232	(967)	(775)	269	(614)	1,721	(495)	(563)	(1,241)	49	(6,315)
Net income (loss)	$ (46,693)	$ 72,081	$ 53,376	$ (51,129)	$ 42,193	$ (195,715)	$ 15,662	$ 50,470	$ 27,635	$ (87,390)	$ 50,395
Earnings (loss) per share
Basic (in dollars per share)	$ (0.45)	$ 0.69	$ 0.51	$ (0.49)	$ 0.40	$ (1.88)	$ 0.15	$ 0.48	$ 0.26	$ (0.84)	$ 0.48
Diluted (in dollars per share)	$ (0.45)	$ 0.68	$ 0.51	$ (0.49)	$ 0.39	$ (1.88)	$ 0.15	$ 0.47	$ 0.26	$ (0.84)	$ 0.47
Weighted average number of ordinary shares used in the determination of earnings (loss) per share
Basic (in shares)	104,072,283	103,780,196	104,132,797	104,257,874	104,217,321	104,117,448	103,927,761	103,753,065	104,060,052	104,003,820	103,287,693
Diluted (in shares)	104,072,283	105,795,313	105,233,921	104,257,874	106,635,451	104,117,448	106,696,874	106,144,183	105,563,784	104,003,820	106,391,059

Schedule I - Summary of Inve110

Schedule I - Summary of Investments - Other than Investments in Related Parties (Details) $ in Thousands	Dec. 31, 2016USD ($)
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	$ 2,498,990
Fair value	2,647,512
Balance sheet value	2,647,512
Equity securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	1,341,915
Fair value	1,453,221
Balance sheet value	1,453,221
Private common equity securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	4,445
Fair value	4,799
Balance sheet value	4,799
Private preferred equity securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	39,506
Fair value	48,834
Balance sheet value	48,834
Total equities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	1,385,866
Fair value	1,506,854
Balance sheet value	1,506,854
Asset-backed securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	275,784
Fair value	254,852
Balance sheet value	254,852
Bank debt
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	52,622
Fair value	56,896
Balance sheet value	56,896
Corporate bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	169,257
Fair value	218,280
Balance sheet value	218,280
U.S. Treasury securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	331,137
Fair value	327,016
Balance sheet value	327,016
Sovereign debt
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	207,916
Fair value	200,913
Balance sheet value	200,913
Total debt securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	1,036,716
Fair value	1,057,957
Balance sheet value	1,057,957
Investments in limited partnerships
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	46,776
Fair value	44,983
Balance sheet value	44,983
Options
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	1,542
Fair value	1,024
Balance sheet value	1,024
Trade claims
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	3,090
Fair value	9,022
Balance sheet value	9,022
Investment in Kiskadee Fund
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	25,000
Fair value	27,672
Balance sheet value	27,672
Total other investments
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	76,408
Fair value	82,701
Balance sheet value	$ 82,701

Schedule III - Supplementary111

Schedule III - Supplementary Insurance Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Supplementary Insurance Information, by Segment [Line Items]
Deferred acquisition costs, net	$ 221,618	$ 197,093	$ 155,901
Loss and loss adjustment expense reserves	605,129	466,047	277,362
Unearned premium	557,076	531,710	433,809
Net premiums earned	590,190	602,824	444,532
Net investment income (loss)	98,825	(28,074)	85,582
Other Expenses	(8,387)	8,614	7,395
Loss and loss adjustment expenses incurred, net	395,932	415,191	283,147
Amortization of deferred acquisition costs, net	222,150	191,216	137,206
Other operating expenses	39,367	46,033	40,008
Net premiums written	615,049	700,538	613,150
Property and Casualty Reinsurance
Supplementary Insurance Information, by Segment [Line Items]
Deferred acquisition costs, net	221,618	197,093	155,891
Loss and loss adjustment expense reserves	605,129	466,047	277,285
Unearned premium	557,076	531,710	433,757
Net premiums earned	590,190	602,816	432,297
Net investment income (loss)	16,931	(10,810)	11,305
Other Expenses	(8,387)	8,614	7,395
Loss and loss adjustment expenses incurred, net	395,932	415,041	283,180
Amortization of deferred acquisition costs, net	222,150	191,217	136,154
Other operating expenses	22,160	24,815	22,515
Net premiums written	615,049	700,582	601,155
Catastrophe Risk Management
Supplementary Insurance Information, by Segment [Line Items]
Deferred acquisition costs, net	0	0	10
Loss and loss adjustment expense reserves	0	0	77
Unearned premium	0	0	52
Net premiums earned	0	8	12,235
Net investment income (loss)	0	69	1,227
Other Expenses	0	0	0
Loss and loss adjustment expenses incurred, net	0	150	(33)
Amortization of deferred acquisition costs, net	0	(1)	1,052
Other operating expenses	0	447	3,113
Net premiums written	0	(44)	11,995
Corporate
Supplementary Insurance Information, by Segment [Line Items]
Deferred acquisition costs, net	0	0	0
Loss and loss adjustment expense reserves	0	0	0
Unearned premium	0	0	0
Net premiums earned	0	0	0
Net investment income (loss)	81,894	(17,333)	73,050
Other Expenses	0	0	0
Loss and loss adjustment expenses incurred, net	0	0	0
Amortization of deferred acquisition costs, net	0	0	0
Other operating expenses	17,207	20,771	14,380
Net premiums written	$ 0	$ 0	$ 0

Schedule IV - Reinsurance (Deta

Schedule IV - Reinsurance (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Net premiums earned	$ 192,083	$ 128,183	$ 133,122	$ 136,802	$ 134,366	$ 208,805	$ 120,578	$ 139,075	$ 590,190	$ 602,824	$ 444,532
Property and Casualty Reinsurance
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Direct gross premiums written									0	0	0
Ceded to other companies									2,325	1,876	150
Assumed from other companies									617,374	702,414	613,300
Net premiums earned									$ 615,049	$ 700,538	$ 613,150
Percentage of amount assumed to net									100.00%	100.00%	100.00%