SiriusPoint (SPNT) 10-Q 10 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 08, 2018
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-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		102,244,248

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets
Equity securities, trading, at fair value (cost - $1,786,551; 2017 - $1,868,735)	$ 2,133,170	$ 2,283,050
Debt securities, trading, at fair value (cost - $669,752; 2017 - $711,322)	635,322	675,158
Other investments, at fair value	43,109	37,731
Total investments in securities	2,811,601	2,995,939
Cash and cash equivalents	6,410	8,197
Restricted cash and cash equivalents	543,173	541,136
Due from brokers	318,703	305,093
Derivative assets, at fair value	54,114	73,372
Interest and dividends receivable	4,167	3,774
Reinsurance balances receivable	684,897	476,008
Deferred acquisition costs, net	308,903	258,793
Prepaid Reinsurance Premiums	15,061	1,049
Loss and loss adjustment expenses recoverable	1,332	1,113
Other assets	7,872	7,320
Total assets	4,756,233	4,671,794
Liabilities
Accounts payable and accrued expenses	11,273	34,632
Reinsurance balances payable	50,799	41,614
Deposit liabilities	129,957	129,133
Unearned premium reserves	884,758	649,518
Loss and loss adjustment expense reserves	761,631	720,570
Securities sold, not yet purchased, at fair value	355,447	394,278
Securities sold under an agreement to repurchase	19,067	29,618
Due to brokers	792,633	770,205
Derivative liabilities, at fair value	14,510	14,503
Performance fee payable to related party	20	0
Interest and dividends payable	3,049	4,275
Senior notes payable, net of deferred costs	113,777	113,733
Total liabilities	3,136,921	2,902,079
Commitments and contingent liabilities
Redeemable Noncontrolling Interest, Equity, Carrying Amount	6,801	108,219
Shareholders’ equity
Preference shares (par value $0.10; authorized, 30,000,000; none issued)	0	0
Common shares (Issued: 2018 - 102,244,248; 2017 - 107,227,347; Outstanding: 2018 - 102,244,248; 2017 - 103,282,427)	10,224	10,723
Treasury Stock, Value	0	(48,253)
Additional paid-in capital	1,029,179	1,099,599
Retained earnings	568,019	594,020
Shareholders’ equity attributable to Third Point Re common shareholders	1,607,422	1,656,089
Noncontrolling interests in related party	5,089	5,407
Total shareholders’ equity	1,612,511	1,661,496
Total liabilities, noncontrolling interests and shareholders’ equity	$ 4,756,233	$ 4,671,794

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Assets
Equity securities, trading, cost	$ 1,786,551
Debt securities, trading, cost	$ 669,752
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)	102,244,248	107,227,347
Common share, shares outstanding (in shares)	102,244,248	103,282,427
Treasury Stock, Shares	0	3,944,920

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues
Gross premiums written	$ 378,360	$ 146,354
Gross premiums ceded	(14,646)	(1,125)
Net premiums written	363,714	145,229
Change in net unearned premium reserves	(221,228)	(7,220)
Net premiums earned	142,486	138,009
Investment Income before Management and Performance Fees	7,839	167,835
Management and performance fees to related parties	(10,047)	(39,325)
Net investment income (loss)	(2,208)	128,510
Total revenues	140,278	266,519
Expenses
Loss and loss adjustment expenses incurred, net	92,620	85,895
Acquisition costs, net	51,405	54,452
General and administrative expenses	9,481	10,572
Other expenses	3,995	2,901
Interest expense	2,029	2,026
Foreign exchange gain (loss)	6,611	15
Total expenses	166,141	155,861
Income (loss) before income tax expense	(25,863)	110,658
Income tax expense	(128)	(5,298)
Net income (loss)	(25,991)	105,360
Net income attributable to noncontrolling interests in related party	(10)	(1,174)
Net income (loss) available to Third Point Re common shareholders	$ (26,001)	$ 104,186
Earnings (loss) per share available to Third Point Re common shareholders
Basic (in dollars per share)	$ (0.26)	$ 1
Diluted (in dollars per share)	$ (0.26)	$ 0.98
Weighted average number of common shares used in the determination of earnings (loss) per share
Basic (in shares)	101,195,747	104,013,871
Diluted (in shares)	101,195,747	105,701,599

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common shares	Treasury shares	Additional paid-in capital	Retained earnings	Noncontrolling interests in related party
Balance, beginning of period at Dec. 31, 2016		$ 10,650	$ (7,389)	$ 1,094,568	$ 316,222
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, net		68		430
Repurchase of common shares			(18,884)
Share compensation expense				1,830
Net income (loss)	$ 105,360				105,360
Net income attributable to noncontrolling interests in related party	(1,174)				(1,174)
Balance. end of period at Mar. 31, 2017	$ 1,518,530	10,718	$ (26,273)	1,096,828	420,408	$ 16,849
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Shares, Retired	0		0
Stock Repurchased and Retired During Period, Value		0		0
Shareholders’ equity attributable to Third Point Re common shareholders	$ 1,501,681
Shareholders’ equity attributable to Third Point Re common shareholders	1,656,089
Balance, beginning of period at Dec. 31, 2017	1,661,496	10,723	$ (48,253)	1,099,599	594,020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, net		59		(133)
Repurchase of common shares			0
Share compensation expense				1,245
Net income (loss)	(25,991)				(25,991)
Net income attributable to noncontrolling interests in related party	(10)				(10)
Balance. end of period at Mar. 31, 2018	$ 1,612,511	10,224	$ 0	1,029,179	$ 568,019	$ 5,089
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Shares, Retired	(5,583,228)		48,253,000
Stock Repurchased and Retired During Period, Value		$ (558)		$ (71,532)
Shareholders’ equity attributable to Third Point Re common shareholders	$ 1,607,422

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Cash Flows [Abstract]
Net income (loss)	$ (25,991)	$ 105,360
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Share compensation expense	1,245	1,830
Net interest expense on deposit liabilities	1,261	409
Net unrealized (gain) loss on investments and derivatives	62,940	(95,703)
Net realized gain on investments and derivatives	(65,770)	(61,028)
Net foreign exchange losses	6,611	15
Amortization of premium and accretion of discount, net	2,622	(665)
Changes in assets and liabilities:
Reinsurance balances receivable	(208,414)	(37,281)
Deferred acquisition costs, net	(50,110)	864
Increase (Decrease) in Prepaid Reinsurance Premiums	(14,012)	(946)
Increase (Decrease) in Reinsurance Recoverable	(219)	(51)
Other assets	(559)	4,072
Interest and dividends receivable, net	(1,619)	(2,580)
Unearned premium reserves	235,240	8,167
Loss and loss adjustment expense reserves	(34,392)	(18,798)
Accounts payable and accrued expenses	(23,382)	1,179
Reinsurance balances payable	9,025	8,051
Performance fee payable to related party	20	30,857
Net cash used in operating activities	(36,720)	(18,652)
Investing activities
Purchases of investments	(1,032,890)	(613,020)
Proceeds from sales of investments	1,221,157	940,797
Purchases of investments to cover short sales	(300,467)	(120,014)
Proceeds from short sales of investments	277,174	232,856
Change in due to/from brokers, net	8,818	(362,792)
Increase (decrease) in securities sold under an agreement to repurchase	(10,551)	16,524
Net cash provided by investing activities	163,241	94,351
Financing activities
Proceeds from issuance of Third Point Re common shares, net of costs	0	498
Taxes paid on withholding shares	(74)	0
Purchases of Third Point Re common shares under share repurchase program	(23,837)	(18,884)
Increase (decrease) in deposit liabilities, net	(614)	437
Change in total noncontrolling interests in related party, net	(101,746)	(19,999)
Net cash used in financing activities	(126,271)	(37,948)
Net increase in cash, cash equivalents and restricted cash	250	37,751
Cash, cash equivalents and restricted cash at beginning of period	549,333	308,891
Cash, cash equivalents and restricted cash at end of period	6,410
Supplementary information
Interest paid in cash	8,523	6,773
Income taxes paid in cash	$ 1,226	$ 1,355

Organization

Organization	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Third Point Reinsurance Ltd. (together with its wholly and majority owned subsidiaries, “Third Point Re” or 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 BDA”), 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 Re. 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. These unaudited condensed consolidated financial statements include the results of Third Point Re 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”) for interim financial information and with the instructions to Form 10-Q and Article 10 in Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In addition, the year-end balance sheet data was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. This Quarterly Report should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 (the “ 2017 10-K”), as filed with the U.S. Securities and Exchange Commission on March 1, 2018. In the opinion of management, these unaudited condensed consolidated financial statements reflect all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the Company’s financial position and results of operations as at the end of and for the periods presented. All significant intercompany accounts and transactions have been eliminated. The results for the three months ended March 31, 2018 are not necessarily indicative of the results expected for the full calendar year. Tabular amounts are in U.S. Dollars in thousands, except share amounts, unless otherwise noted.

Significant accounting policies

Significant accounting policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Significant accounting policies	There have been no material changes to the Company’s significant accounting policies as described in its 2017 10-K. Prior year changes in the presentation of condensed consolidated financial statements The Company had previously included unearned premium ceded and loss and loss adjustment expenses recoverable in other assets in the condensed consolidated balance sheets and changes in these balances in the condensed consolidated statements of cash flows. These balances have grown and are now disclosed as separate line items in the condensed consolidated balance sheets and changes in these balances in the condensed consolidated statements of cash flows. Recently issued accounting standards Issued and effective as of March 31, 2018 In January 2016, the Financial Accounting Standards Board (“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 is intended 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 accounting standard did not have a material impact on the Company’s condensed consolidated financial statements since all of the Company’s investments are valued at fair market value. In August 2016, the FASB issued Accounting Standards Update 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15). ASU 2016-15 is intended at reducing diversity in practice and addresses eight specific issues in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. To date, the Company has not entered into any of the eight types of transactions addressed in ASU 2016-15. As a result, the adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements. In November 2016, the FASB issued Accounting Standards Update 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (ASU 2016-18). ASU 2016-18 clarifies guidance on the classification and presentation of restricted cash in the statement of cash flows, specifically, the Company should include in its cash and cash-equivalent balances in the statement of cash flows those amounts that are deemed to be restricted cash and cash equivalents. An entity with a material balance of amounts generally described as restricted cash and cash equivalents must disclose information about the nature of the restrictions. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017, and interim periods therein. As a result of the adoption of ASU 2016-18, the Company retrospectively classified its restricted cash and cash equivalents within the condensed consolidated statement of cash flows and has included additional disclosures in accordance with ASU 2016-18 in its condensed consolidated financial statements. Prior to adoption, changes in restricted cash had been presented within cash flow from investing activities. Consequently, the condensed consolidated statement of cash flows for the three months ended March 31, 2017 includes adjustments to increase net cash used in investing activities by $35.9 million . In May 2017, the FASB issued Accounting Standards Update 2017-09, Compensation — Stock Compensation (Topic 718): Scope of Modification Accounting (ASU 2017-09). ASU 2017-09 is intended to reduce diversity in practice and subsequent to its adoption, an entity will not apply modification accounting as a result of changes to terms and conditions of a share-based payment award if certain conditions are met. The amendments in ASU 2019-09 are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. This new accounting standard did not have a material impact on the Company’s condensed consolidated financial statements. Issued but not yet effective as of March 31, 2018 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 related to leasing transactions. The new standard affects all entities that lease assets such as real estate, airplanes and manufacturing equipment. ASU 2016-02 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 condensed consolidated financial statements as a result of the limited number of leases the Company currently has in place. In June 2016, the FASB issued Accounting Standards Update 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13). ASU 2016-13 amends the guidance on the impairment of financial instruments. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses, which the FASB believes will result in more timely recognition of such losses. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company is currently evaluating the impact of this guidance on the Company’s condensed consolidated financial statements. In March 2017, the FASB issued Accounting Standards Update 2017-08, Premium Amortization on Purchased Callable Debt Securities (ASU 2017-08). ASU 2017-08 is intended to enhance the accounting for the amortization of premiums for purchased callable debt securities.The amendments are effective for interim and annual periods beginning after December 15, 2018. The Company is currently evaluating the impact of this guidance on the Company’s condensed consolidated financial statements. In July 2017, the FASB issued Accounting Standards Update 2017-11, (Part I) Accounting for Certain Financial Instruments With Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests With a Scope Exception (ASU 2017-11). ASU 2017-11 is intended to reduce the complexity associated with accounting for certain financial instruments with characteristics of liabilities and equity. Specifically, a down round feature would no longer cause a freestanding equity-linked financial instrument (or an embedded conversion option) to be accounted for as a derivative liability at fair value with changes in fair value recognized in current earnings. In addition, ASU 2017-11 re-characterizes the indefinite deferral of certain provisions of Topic 480 to a scope exception. The recharacterization has no accounting effect. The amendments are effective for interim and annual periods beginning after December 15, 2018. The Company does not currently have financial instruments with down round features, therefore, the Company does not expect any impact to the Company’s condensed consolidated financial statements.
Recently issued accounting standards	Recently issued accounting standards Issued and effective as of March 31, 2018 In January 2016, the Financial Accounting Standards Board (“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 is intended 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 accounting standard did not have a material impact on the Company’s condensed consolidated financial statements since all of the Company’s investments are valued at fair market value. In August 2016, the FASB issued Accounting Standards Update 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15). ASU 2016-15 is intended at reducing diversity in practice and addresses eight specific issues in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. To date, the Company has not entered into any of the eight types of transactions addressed in ASU 2016-15. As a result, the adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements. In November 2016, the FASB issued Accounting Standards Update 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (ASU 2016-18). ASU 2016-18 clarifies guidance on the classification and presentation of restricted cash in the statement of cash flows, specifically, the Company should include in its cash and cash-equivalent balances in the statement of cash flows those amounts that are deemed to be restricted cash and cash equivalents. An entity with a material balance of amounts generally described as restricted cash and cash equivalents must disclose information about the nature of the restrictions. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017, and interim periods therein. As a result of the adoption of ASU 2016-18, the Company retrospectively classified its restricted cash and cash equivalents within the condensed consolidated statement of cash flows and has included additional disclosures in accordance with ASU 2016-18 in its condensed consolidated financial statements. Prior to adoption, changes in restricted cash had been presented within cash flow from investing activities. Consequently, the condensed consolidated statement of cash flows for the three months ended March 31, 2017 includes adjustments to increase net cash used in investing activities by $35.9 million . In May 2017, the FASB issued Accounting Standards Update 2017-09, Compensation — Stock Compensation (Topic 718): Scope of Modification Accounting (ASU 2017-09). ASU 2017-09 is intended to reduce diversity in practice and subsequent to its adoption, an entity will not apply modification accounting as a result of changes to terms and conditions of a share-based payment award if certain conditions are met. The amendments in ASU 2019-09 are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. This new accounting standard did not have a material impact on the Company’s condensed consolidated financial statements. Issued but not yet effective as of March 31, 2018 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 related to leasing transactions. The new standard affects all entities that lease assets such as real estate, airplanes and manufacturing equipment. ASU 2016-02 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 condensed consolidated financial statements as a result of the limited number of leases the Company currently has in place. In June 2016, the FASB issued Accounting Standards Update 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13). ASU 2016-13 amends the guidance on the impairment of financial instruments. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses, which the FASB believes will result in more timely recognition of such losses. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company is currently evaluating the impact of this guidance on the Company’s condensed consolidated financial statements. In March 2017, the FASB issued Accounting Standards Update 2017-08, Premium Amortization on Purchased Callable Debt Securities (ASU 2017-08). ASU 2017-08 is intended to enhance the accounting for the amortization of premiums for purchased callable debt securities.The amendments are effective for interim and annual periods beginning after December 15, 2018. The Company is currently evaluating the impact of this guidance on the Company’s condensed consolidated financial statements. In July 2017, the FASB issued Accounting Standards Update 2017-11, (Part I) Accounting for Certain Financial Instruments With Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests With a Scope Exception (ASU 2017-11). ASU 2017-11 is intended to reduce the complexity associated with accounting for certain financial instruments with characteristics of liabilities and equity. Specifically, a down round feature would no longer cause a freestanding equity-linked financial instrument (or an embedded conversion option) to be accounted for as a derivative liability at fair value with changes in fair value recognized in current earnings. In addition, ASU 2017-11 re-characterizes the indefinite deferral of certain provisions of Topic 480 to a scope exception. The recharacterization has no accounting effect. The amendments are effective for interim and annual periods beginning after December 15, 2018. The Company does not currently have financial instruments with down round features, therefore, the Company does not expect any impact to the Company’s condensed consolidated financial statements.

Restricted cash and cash equiva

Restricted cash and cash equivalents and restricted investments	3 Months Ended
	Mar. 31, 2018
Cash and Cash Equivalents [Abstract]
Restricted cash and cash equivalents and restricted investments	The following table provides a reconciliation of cash and cash equivalents, restricted cash and restricted investments as of March 31, 2018 and December 31, 2017 : March 31, December 31, Cash and cash equivalents $ 6,410 $ 8,197 Restricted cash securing letter of credit facilities (1) 236,994 250,487 Restricted cash securing other reinsurance contracts (2) 306,179 290,649 Total cash, cash equivalents and restricted cash (3) 549,583 549,333 Restricted investments securing other reinsurance contracts (2) 323,928 326,429 Total cash, cash equivalents, restricted cash and restricted investments $ 873,511 $ 875,762 (1) Restricted cash securing letter of credit facilities primarily pertains to letters of credit issued to clients and cash securing these obligations that the Company will not be released 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. (3) Cash, cash equivalents and restricted cash as reported in the Company’s condensed consolidated statements of cash flows.

Investments

Investments	3 Months Ended
	Mar. 31, 2018
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: March 31, December 31, Assets Total investments in securities $ 2,811,372 $ 2,995,097 Cash and cash equivalents 476 8 Restricted cash and cash equivalents 543,173 541,136 Due from brokers 318,703 305,093 Derivative assets, at fair value 54,114 73,372 Interest and dividends receivable 4,167 3,774 Total assets 3,732,005 3,918,480 Liabilities and noncontrolling interests in related party Accounts payable and accrued expenses 3,616 5,137 Securities sold, not yet purchased 355,447 394,278 Securities sold under an agreement to repurchase 19,067 29,618 Due to brokers 792,633 770,205 Derivative liabilities, at fair value 14,510 14,503 Performance fee payable to related party 20 — Interest and dividends payable 2,034 1,218 Total noncontrolling interests in related party (1) 11,890 113,626 Total liabilities and noncontrolling interests in related party 1,199,217 1,328,585 Total net investments managed by Third Point LLC $ 2,532,788 $ 2,589,895 (1) See Note 18 for additional information. Fair Value Measurements 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 meets monthly and is comprised of officers and employees who are senior business management personnel of Third Point LLC. 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. 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. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. For example, the risk inherent in a particular valuation technique used to measure fair value including such a pricing model and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. 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 over-the-counter (“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 security 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. Situations may arise when market quotations or valuations provided by external pricing vendors are available but the fair value may not represent current market conditions. In those cases, Third Point LLC may substitute valuations provided by external pricing vendors with multiple broker-dealer quotations. 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 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 March 31, 2018 , securities valued at $170.4 million ( December 31, 2017 - $ 234.4 million), representing 5.9% ( December 31, 2017 - 7.6% ) of investments in securities and derivative assets, and $2.1 million ( December 31, 2017 - $ 2.1 million), representing 0.6% ( December 31, 2017 - 0.5% ) of securities sold, not yet purchased and derivative liabilities, are valued based on broker quotes. Private securities, real estate and related debt investments 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 March 31, 2018 , the Company had $80.2 million ( December 31, 2017 - $ 83.4 million) of investments fair valued by the Company’s Investment Manager representing approximately 2.8% ( December 31, 2017 - 2.7% ) of total investments in securities and derivative assets of which 98.7% were also separately valued by third party valuation firms using information obtained from the Company’s Investment Manager. As a result of the inherent uncertainty of valuation for private securities, the estimated fair value may differ materially from the value 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 condensed 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. The Company values its investments in limited partnerships at fair value, which is estimated based on the Company’s share of the net asset value (“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 condensed 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 March 31, 2018 and December 31, 2017 , the Company’s asset-backed securities (“ABS”) holdings were as follows: March 31, 2018 December 31, 2017 Reperforming loans $ 133,481 70.5 % $ 160,354 71.1 % Market place loans 43,164 22.8 % 52,584 23.3 % Other (1) 12,676 6.7 % 12,561 5.6 % $ 189,321 100.0 % $ 225,499 100.0 % (1) Other includes: U.S. Alt-A positions, collateralized debt obligations, commercial mortgage-backed securities, non-U.S. RMBS and aircraft ABS. As of March 31, 2018 , 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. The following tables present the Company’s investments, categorized by the level of the fair value hierarchy as of March 31, 2018 and December 31, 2017 : March 31, 2018 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets Equity securities $ 2,064,380 $ 9,207 $ — $ 2,073,587 Private common equity securities — — 4,352 4,352 Private preferred equity securities — — 55,231 55,231 Total equities 2,064,380 9,207 59,583 2,133,170 Asset-backed securities — 162,065 27,256 189,321 Bank debt — 19,794 — 19,794 Corporate bonds — 55,637 10,081 65,718 Municipal bonds — 27,452 — 27,452 U.S. Treasury securities — 240,549 — 240,549 Sovereign debt — 87,485 — 87,485 Other debt securities — 5,003 — 5,003 Total debt securities — 597,985 37,337 635,322 Options 3,148 11,965 — 15,113 Rights and warrants — 143 819 962 Real estate — — 6,937 6,937 Trade claims — 3,423 — 3,423 Total other investments 3,148 15,531 7,756 26,435 Derivative assets (free standing) — 54,114 — 54,114 $ 2,067,528 $ 676,837 $ 104,676 2,849,041 Investments in funds valued at NAV 16,674 Total assets $ 2,865,715 Liabilities Equity securities $ 330,043 $ — $ — $ 330,043 Corporate bonds — 16,949 — 16,949 Options 2,973 5,413 — 8,386 Trade claims — 69 — 69 Total securities sold, not yet purchased 333,016 22,431 — 355,447 Derivative liabilities (free standing) — 12,514 1,996 14,510 Derivative liabilities (embedded) — — 124 124 Total liabilities $ 333,016 $ 34,945 $ 2,120 $ 370,081 December 31, 2017 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets Equity securities $ 2,200,379 $ 20,751 $ — $ 2,221,130 Private common equity securities — — 4,794 4,794 Private preferred equity securities — — 57,126 57,126 Total equities 2,200,379 20,751 61,920 2,283,050 Asset-backed securities — 198,191 27,308 225,499 Bank debt — 14,550 — 14,550 Corporate bonds — 67,218 9,868 77,086 U.S. Treasury securities — 249,994 — 249,994 Sovereign debt — 102,569 — 102,569 Other debt securities — 4,747 713 5,460 Total debt securities — 637,269 37,889 675,158 Options 1,973 2,978 — 4,951 Rights and warrants — 168 435 603 Real estate — — 6,831 6,831 Trade claims — 7,496 — 7,496 Total other investments 1,973 10,642 7,266 19,881 Derivative assets (free standing) — 73,372 — 73,372 $ 2,202,352 $ 742,034 $ 107,075 3,051,461 Investments in funds valued at NAV 17,850 Total assets $ 3,069,311 Liabilities Equity securities $ 364,215 $ — $ — $ 364,215 Corporate bonds — 21,699 — 21,699 Options 2,668 5,696 — 8,364 Total securities sold, not yet purchased 366,883 27,395 — 394,278 Derivative liabilities (free standing) — 12,418 2,085 14,503 Derivative liabilities (embedded) — — 171 171 Total liabilities $ 366,883 $ 39,813 $ 2,256 $ 408,952 During the three months ended March 31, 2018 , the Company made $nil ( December 31, 2017 - $ nil ) of reclassifications of assets or liabilities between Levels 1 and 2. Total change in unrealized gains (losses) on equity and debt securities held at the three months ended March 31, 2018 were $(23.9) million and $(0.6) million , respectively ( 2017 - $105.0 million and $1.7 million , respectively). The following table presents the reconciliation of all investments measured at fair value using Level 3 inputs for the three months ended March 31, 2018 and 2017 : January 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (1) March 31, Assets Private common equity securities $ 4,794 $ — $ — $ — $ (442 ) $ 4,352 Private preferred equity securities 57,126 — 161 (15 ) (2,041 ) 55,231 Asset-backed securities 27,308 1,839 12,197 (12,446 ) (1,642 ) 27,256 Corporate bonds 9,868 — 20 — 193 10,081 Other debt securities 713 — — (892 ) 179 — Rights and warrants 435 — 582 (204 ) 6 819 Real estate 6,831 — — (153 ) 259 6,937 Total assets $ 107,075 $ 1,839 $ 12,960 $ (13,710 ) $ (3,488 ) $ 104,676 Liabilities Derivative liabilities (free standing) $ (2,085 ) $ — $ — $ — $ 89 $ (1,996 ) Derivative liabilities (embedded) (171 ) — — — 47 (124 ) Total liabilities $ (2,256 ) $ — $ — $ — $ 136 $ (2,120 ) January 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (1) March 31, Assets Private common equity securities $ 4,799 $ — $ — $ — $ (54 ) $ 4,745 Private preferred equity securities 48,834 — — (371 ) (113 ) 48,350 Asset-backed securities 17,628 1,347 13,252 (10,796 ) (646 ) 20,785 Bank debt 8,350 — — (254 ) 626 8,722 Corporate bonds 9,255 — — (266 ) (5 ) 8,984 Total assets $ 88,866 $ 1,347 $ 13,252 $ (11,687 ) $ (192 ) $ 91,586 Liabilities Derivative liabilities (free standing) $ (1,326 ) $ — $ — $ — $ — $ (1,326 ) Derivative liabilities (embedded) (92 ) — — — (19 ) (111 ) Total liabilities $ (1,418 ) $ — $ — $ — $ (19 ) $ (1,437 ) (1) Total change in realized and unrealized gains (losses) recorded on Level 3 financial instruments is included in net investment income (loss) in the condensed consolidated statements of income (loss) . Total change in unrealized gains (losses) on fair value of assets using significant unobservable inputs (Level 3) held at the three months ended March 31, 2018 was $(4.0) million ( 2017 - $ 1.3 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 period, gains (losses) are presented as if the assets or liabilities had been transferred out of Level 3 at the beginning of the period. 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 are insignificant or do not have any unobservable inputs to disclose, as they are valued primarily using dealer quotes or at cost. March 31, 2018 Assets Fair value Valuation technique Unobservable input Range Private equity investments $ 6,357 Market approach Volatility 35.0% - 65.0% Time to exit 1 - 1.5 years Multiple 6.5 - 8.8x Real estate 6,937 Discounted cash flow Discount rate 9.5 % Capitalization rate 6.5% - 10.0% Rights and warrants 818 Discounted cash flow Discount rate 15.8 % Time to exit 5 years Market approach Multiple 3 - 3.5x December 31, 2017 Assets Fair value Valuation technique Unobservable input Range Private equity investments $ 37,507 Market approach Volatility 35.0% - 65.0% Time to exit 0.5 - 1.8 years Multiple 7.8 - 24.4x Real estate 6,831 Discounted cash flow Discount rate 9.5 % Capitalization rate 6.5% - 10.0% Other debt securities 713 Discounted cash flow Capitalization rate 10.0 % Rights and warrants 433 Discounted cash flow Discount rate 13.5 % Time to exit 5.0 years Market approach Multiple 3.8 - 4.6x Private equity investments T he Company measures the fair value of these 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. Real estate and other debt securities The values of the investments are based upon available information concerning the market for real estate property investments and the underlying assets of the other debt investments. The valuation methods include, but are not limited to the following: (1) forecasts of future net cash flows based on the Investment Manager’s analysis of future earnings from the investment plus anticipated net proceeds from the sale, disposition or resolution of the investment; (2) discounted earnings multiples applied to stabilized income or adjusted earnings from the investment; (3) recent sales of comparable investments. Rights and warrants The values of the investments are based on the valuation techniques discussed in private equity investments above as they relate to the same underlying securities. For the three months ended March 31, 2018 and 2017 , 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, securities sold under an agreement to repurchase and securities lending transactions	3 Months Ended
	Mar. 31, 2018
Securities Purchased under Agreements to Resell [Abstract]
Securities purchased under an agreement to sell, securities sold under an agreement to repurchase and securities lending transactions	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 the Company held only repurchase agreements as of March 31, 2018 , these positions are not impacted by counterparty netting agreements. Interest payable and receivable related to these transactions are included in interest payable and receivable in the condensed consolidated balance sheets. Generally, repurchase and reverse repurchase agreements mature within 30 to 90 days . The 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 condensed 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 March 31, 2018 and December 31, 2017 : March 31, 2018 Overnights and continuous Up to 30 days 30 - 90 days Greater than 90 days Total Repurchase agreements Asset-backed securities $ — $ 18,673 $ — $ — $ 18,673 Corporate securities — — — 394 394 $ — $ 18,673 $ — $ 394 $ 19,067 Securities lending transactions U.S. Treasury and agency securities $ 843 $ — $ — $ — $ 843 December 31, 2017 Overnights and continuous Up to 30 days 30 - 90 days Greater than 90 days Total Repurchase agreements Asset-backed securities $ — $ 10,774 $ 18,844 $ — $ 29,618

Due from_to brokers

Due from/to brokers	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 and December 31, 2017 , the Company’s due from/to brokers were comprised of the following: March 31, December 31, Due from brokers Cash held at brokers $ 260,002 $ 295,467 Receivable from unsettled trades (1) 58,701 9,626 $ 318,703 $ 305,093 Due to brokers Borrowing from prime brokers $ 751,494 $ 759,267 Payable from unsettled trades 41,139 10,938 $ 792,633 $ 770,205 (1) Receivables relating to securities sold by the Company are recorded as receivable from unsettled trades in due from brokers in the Company’s condensed consolidated balance sheets. Due from/to brokers include cash balances maintained with the Company’s prime brokers, receivables and payables from unsettled trades and proceeds from securities sold, not yet purchased. In addition, due from/to brokers includes cash collateral received and posted from OTC and repurchase agreement counterparties. As of March 31, 2018 , the Company’s borrowing from prime brokers includes a total non-U.S. currency balance of $82.4 million ( December 31, 2017 - $70.1 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 March 31, 2018 , the Company had $867.1 million ( December 31, 2017 - $867.6 million ) of restricted cash and investments securing letter of credit facilities and certain reinsurance contracts. Margin debt balances were collateralized by cash held by the broker and certain of the Company’s securities. Margin interest was paid either at the daily broker call rate or based on London Inter-bank Offered Rate. 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 condensed consolidated statements of income (loss) .

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2018
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 condensed consolidated balance sheets, categorized by primary underlying risk. Balances are presented on a gross basis. As of March 31, 2018 Listing currency (1) Fair Value Notional Amounts (2) Derivative Assets by Primary Underlying Risk Credit Credit Default Swaps - Protection Purchased USD $ 9,020 $ 56,381 Total Return Swaps - Long Contracts EGP 23,013 23,013 Equity Price Contracts for Differences - Long Contracts BRL/EUR/USD 10,817 115,267 Contracts for Differences - Short Contracts EUR/SEK/USD 3,709 28,931 Total Return Swaps - Long Contracts BRL 787 17,315 Interest Rates Interest Rate Swaptions JPY 273 68,591 Foreign Currency Exchange Rates Foreign Currency Forward Contracts BRL/CHF/EUR/HKD/JPY 5,548 716,389 Foreign Currency Options - Purchased CNH/EUR/JPY 947 76,977 Total Derivative Assets $ 54,114 $ 1,102,864 Listing currency (1) Fair Value Notional Amounts (2) Derivative Liabilities by Primary Underlying Risk Credit Credit Default Swaps - Protection Purchased USD $ 86 $ 12,928 Credit Default Swaps - Protection Sold USD 2,448 4,703 Equity Price Contracts for Differences - Long Contracts BRL/EUR/GBP/USD 4,297 66,894 Contracts for Differences - Short Contracts EUR/GBP/JPY 182 9,257 Total Return Swaps - Short Contracts USD 119 86,050 Interest Rates Interest Rate Swaptions JPY 26 68,344 Sovereign Debt Futures - Short Contracts EUR 24 125,774 Foreign Currency Exchange Rates Foreign Currency Forward Contracts CNH/SAR 7,287 210,796 Foreign Currency Options - Sold CNH 41 71,084 Total Derivative Liabilities (free standing) $ 14,510 $ 655,830 Embedded derivative liabilities in reinsurance contracts (3) USD $ 124 $ 20,000 Total Derivative Liabilities (embedded) $ 124 $ 20,000 (1) BRL = Brazilian Real, CHF = Swiss Franc, CNH = Chinese Yuan, EGP = Egyptian Pound, EUR = Euro, HKD = Hong Kong Dollar, GBP = British Pound, JPY = Japanese Yen, SAR = Saudi Arabian Riyal, SEK = Swedish Krona, USD = US Dollar. (2) The absolute notional exposure represents the Company’s derivative activity as of March 31, 2018 , 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 condensed consolidated balance sheets. As of December 31, 2017 Listing currency (1) Fair Value Notional Amounts (2) Derivative Assets by Primary Underlying Risk Credit Credit Default Swaps - Protection Purchased USD $ 8,205 $ 50,593 Total Return Swaps - Long Contracts EGP 25,245 25,245 Equity Price Contracts for Differences - Long Contracts BRL / CHF / EUR / USD 17,298 163,868 Contracts for Differences - Short Contracts DKK / NOK / SEK / USD 4,384 31,992 Total Return Swaps - Long Contracts BRL / USD 15,936 96,388 Total Return Swaps - Short Contracts USD 1 — Interest Rates Interest Rate Swaptions JPY 539 64,950 Foreign Currency Exchange Rates Foreign Currency Forward Contracts HKD / JPY 1,764 511,937 Total Derivative Assets $ 73,372 $ 944,973 Listing currency (1) Fair Value Notional Amounts (2) Derivative Liabilities by Primary Underlying Risk Credit Credit Default Swaps - Protection Purchased USD $ 1,250 $ 19,418 Credit Default Swaps - Protection Sold USD 2,085 2,351 Equity Price Contracts for Differences - Long Contracts BRL / EUR / USD 2,200 93,200 Contracts for Differences - Short Contracts DKK / EUR / USD 776 8,483 Total Return Swaps - Long Contracts BRL / USD 73 50,858 Total Return Swaps - Short Contracts USD 1,885 52,657 Interest Rates Interest Rate Swaptions JPY 70 64,482 Foreign Currency Exchange Rates Foreign Currency Forward Contracts BRL / CHF / CNH / EUR / HKD / SAR 6,164 573,498 Total Derivative Liabilities (free standing) $ 14,503 $ 864,947 Embedded derivative liabilities in reinsurance contracts (3) USD $ 171 $ 20,000 Total Derivative Liabilities (embedded) $ 171 $ 20,000 (1) BRL = Brazilian Real, CHF = Swiss Franc, CNH = Chinese Yuan, DKK = Danish Krone, EGP = Egyptian Pound, EUR = Euro, HKD = Hong Kong Dollar, JPY = Japanese Yen, NOK = Norwegian Krone, SAR = Saudi Arabian Riyal, SEK = Swedish Krona, USD = US Dollar. (2) The absolute notional exposure represents the Company’s derivative activity as of December 31, 2017 , 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 condensed 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 three months ended March 31, 2018 and 2017 . Realized and unrealized gains (losses) related to free standing derivatives are included in net investment income (loss) in the condensed consolidated statements of income (loss) . Realized and unrealized gains (losses) related to embedded derivatives are included in other expenses in the condensed consolidated statements of income (loss) . 2018 2017 Free standing Derivatives - Primary Underlying Risk Realized Gain (Loss) Unrealized Gain (Loss)* Realized Gain (Loss) Unrealized Gain (Loss)* Credit Credit Default Swaps - Protection Purchased $ (1,248 ) $ 559 $ (1,328 ) $ 1,620 Credit Default Swaps - Protection Sold 848 (761 ) 19 (24 ) Total Return Swaps - Long Contracts 442 805 — — Equity Price Contracts for Differences - Long Contracts 14,200 (8,578 ) 7,870 5,476 Contracts for Differences - Short Contracts 4,060 (81 ) (3,212 ) 1,124 Total Return Swaps - Long Contracts 19,191 (15,077 ) 3,801 5,002 Total Return Swaps - Short Contracts (6,856 ) 1,765 (2,729 ) (413 ) Interest Rates Interest Rate Swaps — — 1,453 365 Interest Rate Swaptions — (221 ) 1,242 (1,769 ) Sovereign Debt Futures - Short Contracts (1 ) (24 ) (1,782 ) 764 Foreign Currency Exchange Rates Foreign Currency Forward Contracts (13,816 ) 2,665 (5,874 ) 1,385 Foreign Currency Options - Purchased — (576 ) (4,869 ) 502 Foreign Currency Options - Sold — 83 2,185 (80 ) $ 16,820 $ (19,441 ) $ (3,224 ) $ 13,952 Embedded Derivatives Embedded derivatives in reinsurance contracts $ — $ 47 $ — $ (19 ) Total Derivative Liabilities (embedded) $ — $ 47 $ — $ (19 ) *Unrealized gain (loss) relates to derivatives still held at reporting date. The Company’s derivative contracts are generally subject to 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. During the period ended March 31, 2018 , no termination events were triggered under the ISDA Master Agreements. As of March 31, 2018 , the aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position was $1.4 million ( December 31, 2017 - $3.6 million ) for which the Company posted collateral in the form of cash of $51.2 million ( December 31, 2017 - $103.0 million ) in the normal course of business. Similarly, the Company held collateral (approximately $2.6 million ) in cash from certain counterparties as of March 31, 2018 . If the credit-risk-related contingent features underlying these instruments had been triggered as of March 31, 2018 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 condensed 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 March 31, 2018 and December 31, 2017 , 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 Condensed Consolidated Balance Sheet March 31, 2018 Gross Amount (1) Financial Instruments Cash Collateral Received Net Amount Financial assets, derivative assets and collateral received Counterparty 1 $ 157 $ 157 $ — $ — Counterparty 2 2,639 215 — 2,424 Counterparty 3 30,666 1,285 — 29,381 Counterparty 4 3,036 3,036 — — Counterparty 5 10,601 5,829 — 4,772 Counterparty 6 3,650 109 1,312 2,229 Counterparty 7 1,811 442 1,217 152 Counterparty 8 12,117 7,228 — 4,889 Counterparty 9 1,402 246 — 1,156 $ 66,079 $ 18,547 $ 2,529 $ 45,003 Gross Amounts not Offset in the Condensed Consolidated Balance Sheet March 31, 2018 Gross Amount (2) Financial Instruments Cash Collateral Pledged Net Amount Financial liabilities, derivative liabilities and collateral pledged Counterparty 1 $ 452 $ 158 $ 294 $ — Counterparty 2 215 215 — — Counterparty 3 1,285 1,285 — — Counterparty 4 4,117 3,037 1,080 — Counterparty 5 5,829 5,829 — — Counterparty 6 109 109 — — Counterparty 7 442 442 — — Counterparty 8 7,228 7,228 — — Counterparty 9 246 246 — — $ 19,923 $ 18,549 $ 1,374 $ — Securities sold under an agreement to repurchase and securities lending transactions Counterparty 3 $ 833 $ 833 $ — $ — Counterparty 4 19,067 19,067 — — $ 19,900 $ 19,900 $ — $ — (1) The gross amounts of assets presented in the condensed consolidated balance sheets presented above includes the fair value of derivative contract assets as well as gross OTC option contract assets of $12.0 million included in other investments in the condensed consolidated balance sheets. (2) The gross amounts of liabilities presented in the condensed consolidated balance sheets presented above includes the fair value of derivative contract liabilities as well as gross OTC option contract liabilities of $5.4 million included in securities sold, not yet purchased in the condensed consolidated balance sheets. Gross Amounts not Offset in the Condensed Consolidated Balance Sheet December 31, 2017 Derivative Contracts Gross Amount (1) Financial Instruments Cash Collateral Received Net Amount Financial assets, derivative assets and collateral received Counterparty 1 $ 167 $ 167 $ — $ — Counterparty 2 1,343 706 — 637 Counterparty 3 37,313 2,705 — 34,608 Counterparty 4 2,683 2,683 — — Counterparty 5 14,798 6,647 — 8,151 Counterparty 6 5,338 9 2,122 3,207 Counterparty 7 1,377 — 1,100 277 Counterparty 8 12,628 2,963 — 9,665 Counterparty 9 703 703 — — $ 76,350 $ 16,583 $ 3,222 $ 56,545 Gross Amounts not Offset in the Condensed Consolidated Balance Sheet December 31, 2017 Derivative Contracts Gross Amount (2) Financial Instruments Cash Collateral Pledged Net Amount Financial liabilities, derivative liabilities and collateral pledged Counterparty 1 $ 1,340 $ 167 $ 1,173 $ — Counterparty 2 706 706 — — Counterparty 3 2,705 2,705 — — Counterparty 4 3,812 2,683 1,129 — Counterparty 5 6,647 6,647 — — Counterparty 6 9 9 — — Counterparty 8 2,963 2,963 — — Counterparty 9 1,181 703 478 — Counterparty 15 836 — 732 104 $ 20,199 $ 16,583 $ 3,512 $ 104 Securities sold under an agreement to repurchase Counterparty 4 $ 29,618 $ 29,618 $ — $ — $ 29,618 $ 29,618 $ — $ — (1) The gross amounts of assets presented in the condensed consolidated balance sheets presented above includes the fair value of derivative contract assets as well as gross OTC option contract assets of $3.0 million included in other investments in the condensed consolidated balance sheets. (2) The gross amounts of liabilities presented in the condensed consolidated balance sheets presented above includes the fair value of derivative contract liabilities as well as gross OTC option contract liabilities of $5.7 million included in securities sold, not yet purchased in the condensed consolidated balance sheets.

Loss and loss adjustment expens

Loss and loss adjustment expense reserves	3 Months Ended
	Mar. 31, 2018
Insurance Loss Reserves [Abstract]
Loss and loss adjustment expense reserves	As of March 31, 2018 and December 31, 2017 , loss and loss adjustment expense reserves in the condensed consolidated balance sheets was comprised of the following: March 31, December 31, Case loss and loss adjustment expense reserves $ 115,243 $ 115,622 Incurred but not reported loss and loss adjustment expense reserves 645,786 604,260 Deferred gains on retroactive reinsurance contracts 602 688 $ 761,631 $ 720,570 The following table represents the activity in the loss and loss adjustment expense reserves for the three months ended March 31, 2018 and 2017 : 2018 2017 Gross reserves for loss and loss adjustment expenses, beginning of period $ 720,570 $ 605,129 Less: loss and loss adjustment expenses recoverable, beginning of period (1,113 ) (1 ) Net reserves for loss and loss adjustment expenses, beginning of period 719,457 605,128 Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in: Current year 75,759 85,123 Prior years 16,947 933 Amortization of deferred gains on retroactive reinsurance contracts (86 ) (161 ) Total incurred loss and loss adjustment expenses 92,620 85,895 Net loss and loss adjustment expenses paid in respect of losses occurring in: Current year (11,988 ) (5,101 ) Prior years (46,459 ) (62,046 ) Total net paid losses (58,447 ) (67,147 ) Foreign currency translation 6,669 1,858 Net reserves for loss and loss adjustment expenses, end of period 760,299 625,734 Plus: loss and loss adjustment expenses recoverable, end of period 1,332 52 Gross reserves for loss and loss adjustment expenses, end of period $ 761,631 $ 625,786 Changes in the Company’s loss and loss adjustment expense reserves result from re-estimating loss reserves and from changes in premium earnings 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 $16.9 million net increase in prior years’ reserves, which includes amortization of deferred gains, for the three months ended March 31, 2018 includes $0.6 million of net favorable reserve development related to decrease s in loss reserve estimates and $17.5 million increase in loss reserves resulting from increase s in premium earnings 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 $0.6 million of net favorable prior years’ reserve development for the three months ended March 31, 2018 was accompanied by net increase s of $0.1 million in acquisition costs, resulting in a $0.5 million improvement in the net underwriting results , primarily due to: • $2.4 million of net favorable underwriting loss development relating to several workers’ compensation contracts written from 2012 to 2014, driven by better than expected loss experience; • $2.1 million of net favorable underwriting loss development from several other contracts, including amortization of deferred gains, as a result of better than expected loss experience; partially offset by • $4.0 million of net adverse underwriting loss development relating to our Florida homeowners’ reinsurance contracts. This development is 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. This practice has led to increases in the frequency of claims reported as well as the severity of losses and loss adjustment expenses. • The $17.5 million net increase in loss and loss adjustment expenses incurred resulting from increase s in premium earnings estimates was accompanied by a $5.1 million increase in acquisition costs, for a total of $22.6 million increase in loss and loss adjustment expenses incurred and acquisition costs. The increase in loss and loss adjustment expenses incurred and acquisition costs was due to an increase in prior period earned premium of $22.9 million . The increase in prior period earned premium was the result of changes in ultimate premium and earning pattern estimates. The net impact was a $0.3 million improvement in the net underwriting results for the three months ended March 31, 2018 . • In total, the change in net underwriting loss for prior periods due to loss reserve development and adjustments to premium earnings estimates resulted in a $0.8 million improvement in the net underwriting results for the three months ended March 31, 2018 . The $0.8 million increase in prior years’ reserves, which includes amortization of deferred gains, for the three months ended March 31, 2017 includes $2.4 million of additional loss reserves resulting from increases in premium earnings estimates on certain contracts, partially offset by $1.6 million of net favorable reserve development related to decreases in loss reserve estimates. 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 $2.4 million increase in loss and loss adjustment expenses incurred related to the increase in premium earnings estimates on certain contracts was accompanied by a $1.0 million increase in acquisition costs, for a total of $3.4 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 $3.4 million , resulting in minimal impact in net underwriting loss for the three months ended March 31, 2017 . • The $1.6 million of net favorable prior years’ reserve development for the three months ended March 31, 2017 was accompanied by net increases of $1.6 million in acquisition costs, resulting in minimal impact in net underwriting loss. • In total, there was minimal change in net underwriting loss for prior periods due to loss reserve development and adjustments to premium earnings estimates for the three months ended March 31, 2017 .

Management, performance and fou

Management, performance and founders fees	3 Months Ended
	Mar. 31, 2018
Management, Performance and Founders Fees [Abstract]
Management, performance and founders fees	Third Point Re, Third Point Re BDA, TPRUSA and Third Point Re USA are parties 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 to related party during the period, unless funds are redeemed from the Joint Venture accounts, in which case, the proportionate share of performance fee, as described in Note 18 , associated with the redemption is earned and allocated to noncontrolling interests in related party. At the end of each year, the remaining portion of the performance fee payable that has not been included in noncontrolling interests in related party through redemptions is earned and 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 March 31, 2018 , the Loss Recovery Account for Third Point Re BDA’s investment account was $2.1 million ( December 31, 2017 - $nil ) and Third Point Re USA’s investment account was $nil ( December 31, 2017 - $nil ). Additionally, Third Point LLC is entitled to receive management fees, which are paid monthly. Pursuant to the Investment Agreements, a total management fee of 1.5% of net investments managed by Third Point LLC was paid to Third Point LLC. For the three months ended March 31, 2018 and 2017 , management and performance fees to related parties are as follows: 2018 2017 Management fees - Third Point LLC $ 9,775 $ 8,467 Performance fees - Third Point Advisors LLC (before loss carryforward) 2,380 30,858 Performance fees - Loss carryforward (2,108 ) — $ 10,047 $ 39,325 As of March 31, 2018 , $0.02 million related to performance fees due under the Investment Agreements was included in performance fee payable to related party in the condensed consolidated balance sheets. As of December 31, 2017 , $94.0 million related to performance fees earned by TP GP were included in noncontrolling interests in related party. See Note 18 for additional information.

Deposit contracts

Deposit contracts	3 Months Ended
	Mar. 31, 2018
Deposit Contracts, Liabilities [Abstract]
Deposit contracts	The following table represents activity for the deposit contracts for the three months ended March 31, 2018 and year ended December 31, 2017 : March 31, December 31, Balance, beginning of period $ 129,133 $ 104,905 Consideration received 1,114 22,658 Consideration receivable — 2,080 Net investment expense allocation 1,261 2,800 Payments (1,729 ) (3,545 ) Foreign currency translation 178 235 Balance, end of period $ 129,957 $ 129,133

Senior notes payable and letter

Senior notes payable and letter of credit facilities	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Senior notes payable and letter of credit facilities	Senior Notes payable As of March 31, 2018 , 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 Re, 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 March 31, 2018 , the Company had capitalized $1.2 million of costs associated with the Notes, which are presented as a direct deduction from the principal amount of the Notes on the condensed consolidated balance sheets. As of March 31, 2018 , the Notes had an estimated fair value of $114.7 million ( December 31, 2017 - $116.7 million ). The fair value measurements were based on observable inputs and therefore were considered to be Level 2. The Company was in compliance with all debt covenants as of March 31, 2018 and December 31, 2017 . Letters of credit As of March 31, 2018 , the Company had entered into the following letter of credit facilities: Facility Utilized Collateral Citibank $ 300,000 $ 161,024 $ 161,024 Lloyds Bank 125,000 75,970 75,970 $ 425,000 $ 236,994 $ 236,994 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	3 Months Ended
	Mar. 31, 2018
Net Investment Income [Abstract]
Net investment income (loss)	Net investment income (loss) for the three months ended March 31, 2018 and 2017 consisted of the following: 2018 2017 Net investment income (loss) by type Net realized gains on investments and investment derivatives $ 65,770 $ 61,074 Net unrealized gains (losses) on investments and investment derivatives (62,987 ) 95,674 Net losses on foreign currencies (787 ) (552 ) Dividend and interest income 13,224 17,267 Dividends paid on securities sold, not yet purchased (1,892 ) (525 ) Other expenses (5,489 ) (5,103 ) Net investment income before management and performance fees to related parties 7,839 167,835 Management and performance fees to related parties (10,047 ) (39,325 ) Net investment income (loss) $ (2,208 ) $ 128,510 The following table provides an additional breakdown of our net investment income (loss) by asset and liability type for the three months ended March 31, 2018 and 2017 : 2018 2017 Net investment income (loss) by asset type Equity securities $ (18,325 ) $ 150,269 Private common equity securities (442 ) (27 ) Private preferred equity securities (2,040 ) 262 Total equities (20,807 ) 150,504 Asset-backed securities 12,449 2,833 Bank debt 2,521 4,142 Corporate bonds (2,676 ) 8,915 Municipal bonds 3,778 — U.S. Treasury securities (637 ) 1,160 Sovereign debt 4,131 6,452 Other debt securities 438 — Total debt securities 20,004 23,502 Options (1,057 ) (7,465 ) Rights and warrants (16 ) 44 Real estate 87 — Trade claims (3 ) 163 Total other investments (989 ) (7,258 ) Net investment income (loss) in funds valued at NAV (908 ) 3,623 Total net investment income (loss) from invested assets (2,700 ) 170,371 Net investment income (loss) by liability type Equity securities 12,918 (5,998 ) Corporate bonds (35 ) (1,693 ) Options 3,733 (1,693 ) Total net investment income (loss) from securities sold, not yet purchased 16,616 (9,384 ) Other investment income (losses) and other expenses not presented above Other investment expenses (352 ) (1,914 ) Net investment income (loss) on derivative contracts (2,621 ) 10,728 Net investment loss on cash, including foreign exchange loss (3,860 ) (2,936 ) Net investment losses on securities purchased under an agreement to sell and securities sold under and agreement to repurchase (209 ) (20 ) Withholding taxes reclassified to income tax expense 965 990 Total other investment income (losses) and other expenses (6,077 ) 6,848 Net investment income before management and performance fees to related parties 7,839 167,835 Management and performance fees to related parties (10,047 ) (39,325 ) Net investment income (loss) $ (2,208 ) $ 128,510

Other expenses

Other expenses	3 Months Ended
	Mar. 31, 2018
Other Income and Expenses [Abstract]
Other expenses	Other expenses for the three months ended March 31, 2018 and 2017 consisted of the following: 2018 2017 Investment expense on deposit liabilities $ 1,261 $ 409 Investment expense and change in fair value of embedded derivatives in reinsurance contracts 2,734 2,492 $ 3,995 $ 2,901

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income taxes	The Company provides for income tax expense or benefit based upon pre-tax income or loss reported in the condensed consolidated statements of income (loss) 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. 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. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act makes broad and complex changes to the U.S. tax code, including, but not limited to, (1) reducing the U.S. federal corporate tax rate from 35% to 21%; (2) eliminating the corporate alternative minimum tax (AMT) and changing how existing AMT credits can be realized; (3) creating the base erosion anti-abuse tax (BEAT), a new minimum tax; and (4) creating a new limitation on deductible interest expense. Although the Company believes that it has accounted for the most significant tax effects of the Tax Act, there may be further changes that could impact the Company’s calculations of certain deferred tax amounts. 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 March 31, 2018 , the Company has accrued $1.9 million (December 31, 2017 - $1.9 million ) for uncertain tax positions. For the three months ended March 31, 2018 and 2017 , the Company recorded income tax expense, as follows: 2018 2017 Income tax expense (benefit) related to U.S. and U.K. subsidiaries $ (849 ) $ 4,182 Change in uncertain tax positions 12 126 Withholding taxes on certain investment transactions 965 990 $ 128 $ 5,298

Share capital

Share capital	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Share capital	The following tables present a summary of the common shares issued and outstanding and shares repurchased held as treasury shares as of and for the three months ended March 31, 2018 and 2017 : Common shares 2018 2017 Common shares issued, beginning of period 107,227,347 106,501,299 Options exercised — 50,000 Restricted shares granted, net of forfeitures 2,516 — Performance restricted shares granted, net of forfeitures and shares withheld 236,057 630,784 Retirement of treasury shares and shares repurchased (1) (5,583,228 ) — Warrants exercised, net (2) 361,556 — Common shares issued, end of period 102,244,248 107,182,083 Treasury shares, end of period — (2,177,639 ) Common shares outstanding, end of period 102,244,248 105,004,444 (1) Prior to December 31, 2017, common shares repurchased by the Company were not canceled and were classified as treasury shares. Effective January 1, 2018, all treasury shares were retired and future shares repurchased will be retired. (2) During the three months ended March 31, 2018 , 1,156,184 warrants were exercised. As a result of the warrant holder electing net settlement, 794,628 of those common shares were withheld by the Company and were subsequently retired, resulting in a net issuance of 361,556 common shares. 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 February 28, 2018, the Company’s Board of Directors authorized the repurchase of an additional $148.3 million common shares, which together with the shares remaining under the previously announced share repurchase program would allow the Company to repurchase up to $200.0 million more of the Company’s outstanding common shares in the aggregate. 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 three months ended March 31, 2018 , the Company repurchased 1,638,308 of its common shares in the open market for $23.8 million at a weighted average cost, including commissions, of $ 14.55 per share. In the three months ended March 31, 2018, the Company retired all shares previously held in treasury. Common shares repurchased by the Company during the period were also retired. As of March 31, 2018 , the Company was authorized to repurchase up to an aggregate of $176.2 million of additional common shares under its share repurchase program.

Share-based compensation

Share-based compensation	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation	The following table provides the total share-based compensation expense included in general and administrative expenses during the three months ended March 31, 2018 and 2017 : 2018 2017 Management and director options $ 95 $ 347 Restricted shares with service condition 140 124 Restricted shares with service and performance condition 1,010 1,359 $ 1,245 $ 1,830 As of March 31, 2018 , the Company had $9.7 million ( December 31, 2017 - $5.8 million ) of unamortized share compensation expense, which is expected to be amortized over a weighted average period of 1.7 years ( December 31, 2017 - 1.5 years ). Management and director options The management and director options activity for the three months ended March 31, 2018 and year ended December 31, 2017 were as follows: Number of options Weighted average exercise price Balance as of January 1, 2017 9,596,993 $ 13.64 Forfeited (558,138 ) 18.00 Exercised (150,802 ) 10.00 Balance as of January 1, 2018 8,888,053 13.43 Forfeited — — Exercised — — Balance as of March 31, 2018 8,888,053 $ 13.43 As of March 31, 2018 , the weighted average remaining contractual term for options outstanding and exercisable was 3.9 years and 3.9 years , respectively ( December 31, 2017 - 4.2 years and 4.1 years , respectively). The following table summarizes information about the Company’s management and director share options outstanding as of March 31, 2018 : 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 5,123,532 $ 10.04 3.8 years 5,081,671 $ 10.03 $15.05 - $16.89 1,917,145 15.93 4.0 years 1,861,332 15.94 $20.00 - $25.05 1,847,376 20.26 4.0 years 1,805,518 20.22 8,888,053 $ 13.43 3.9 years 8,748,521 $ 13.39 Restricted shares with service condition Restricted share award activity for the three months ended March 31, 2018 and year ended December 31, 2017 was as follows: Number of non- vested restricted shares Weighted average grant date fair value Balance as of January 1, 2017 301,043 $ 11.12 Granted 36,418 12.15 Forfeited (71,429 ) 14.00 Vested (247,823 ) 10.36 Balance as of January 1, 2018 18,209 12.15 Granted 2,516 15.30 Vested (9,561 ) 12.30 Balance as of March 31, 2018 11,164 $ 12.73 Restricted shares with service condition 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 shares with service and performance condition Restricted share award activity for the restricted shares with a service and performance condition for the three months ended March 31, 2018 and year ended December 31, 2017 were as follows: Number of non- vested restricted shares Number of non- vested restricted shares probable of vesting Weighted average grant date fair value of shares probable of vesting Balance as of January 1, 2017 1,381,740 577,486 $ 12.91 Granted 935,825 623,882 12.66 Forfeited (325,568 ) (45,617 ) 12.57 Vested (136,618 ) (136,618 ) 14.60 Change in estimated restricted shares considered probable of vesting n/a (131,930 ) 12.17 Balance as of January 1, 2018 1,855,379 887,203 12.60 Granted 530,077 353,380 14.05 Forfeited (288,700 ) — 14.00 Vested (115,757 ) (115,757 ) 14.00 Change in estimated restricted shares considered probable of vesting n/a 19,197 11.70 Balance as of March 31, 2018 1,980,999 1,144,023 $ 12.64

Non-controlling interests

Non-controlling interests	3 Months Ended
	Mar. 31, 2018
Noncontrolling Interest [Abstract]
Non-controlling interests	Noncontrolling interests in related party represents the portion of equity in consolidated subsidiaries not attributable, directly or indirectly, to the Company. The joint ventures created through the Investment Agreements ( Note 10 ) 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 redeemable noncontrolling interests in related party and noncontrolling interests in related party in the condensed consolidated balance sheets. A portion of the noncontrolling interest in investment affiliates is subject to contractual withdrawal rights of TP GP, whereas TP GP, at its sole discretion, can withdraw the capital over the minimum capital required to be maintained in its capital accounts. This excess capital is therefore recorded on the Company’s condensed consolidated balance sheets as redeemable noncontrolling interest in related party whereas the required minimum capital is recorded as noncontrolling interests in related party within shareholders’ equity on the Company’s condensed consolidated balance sheets since it does not have withdrawal rights. Changes in the presentation of noncontrolling interests During the quarter ended September 30, 2017, the Company identified that a portion of its noncontrolling interests were redeemable. This portion of the noncontrolling interests had previously been presented in noncontrolling interests to related party within shareholders’ equity when it should have been presented in the mezzanine section of the condensed consolidated balance sheet as redeemable noncontrolling interests in related party. As of March 31, 2017, $12.2 million of the noncontrolling interests in related party should have been presented in the mezzanine section of the condensed consolidated balance sheet as redeemable noncontrolling interests in related party and should have been excluded from noncontrolling interests in related party in shareholders’ equity. Although this impacted total shareholders’ equity, it did not impact shareholders’ equity attributable to Third Point Re common shareholders or retained earnings. In addition, this change did not impact the consolidated statements of income, earnings per share or consolidated statement of cash flows. The Company has evaluated the effect of the incorrect presentation, both qualitatively and quantitatively, and concluded that it did not have a material impact on, nor require amendment of, any previously filed annual or quarterly consolidated financial statements. The following table is a reconciliation of the beginning and ending carrying amounts of redeemable noncontrolling interests in related party, noncontrolling interests in related party and total noncontrolling interests in related party for the three months ended March 31, 2018 and 2017 : Redeemable noncontrolling interests in related party Noncontrolling interests in related party Total noncontrolling interests in related party March 31, 2018 March 31, 2017 March 31, 2018 March 31, 2017 March 31, 2018 March 31, 2017 Balance, beginning of period $ 108,219 $ — $ 5,407 $ 35,674 $ 113,626 $ 35,674 Changes in capital account allocation (101,418 ) — (318 ) (18,825 ) (101,736 ) (18,825 ) Balance, end of period $ 6,801 $ — $ 5,089 $ 16,849 $ 11,890 $ 16,849 In addition, the following table is a reconciliation of beginning and ending carrying amount of total noncontrolling interests in related party resulting from the consolidation of the Company’s joint venture in Third Point Re BDA and Third Point Re USA: Third Point Re BDA Third Point Re USA Total March 31, 2018 March 31, 2017 March 31, 2018 March 31, 2017 March 31, 2018 March 31, 2017 Balance, beginning of period $ 97,619 $ 30,358 $ 16,007 $ 5,316 $ 113,626 $ 35,674 Net income (loss) attributable to total noncontrolling interests in related party (7 ) 932 17 242 10 1,174 Contributions (1) 240 — 14 — 254 — Redemptions (89,000 ) (17,999 ) (13,000 ) (2,000 ) (102,000 ) (19,999 ) Balance, end of period $ 8,852 $ 13,291 $ 3,038 $ 3,558 $ 11,890 $ 16,849 (1) Contributions include performance fees earned during the period. See Note 10 for additional information. Non-consolidated variable interest entities The Company invests in limited partnerships and other investment vehicles as part of its overall investment strategy. Some of these entities are affiliated with our investment manager, Third Point LLC. The activities of these variable interest entities are generally limited to holding investments and the Company’s involvement in these entities is passive in nature. The Company does not have the power to direct the activities which most significantly impact the variable interest entities economic performance and therefore, the Company is not the primary beneficiary of these variable interest entities. The following variable interest entities were not consolidated as per ASC 810: 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 March 31, 2018 , the Company held a 14.6% ( December 31, 2017 - 15.6% ) 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 NAV, as a practical expedient for fair value, in the condensed consolidated balance sheets. The Company records changes in the fair value of this investment in the condensed consolidated statements of income (loss) . As of March 31, 2018 , the estimated fair value of the investment in the limited partnership was $1.2 million ( December 31, 2017 - $ 0.6 million). The Company contributed $0.3 million to the Cayman HoldCo during the three months ended March 31, 2018 due to the purchase of underlying investments ( 2017 - $19.6 million net distributions). 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. Third Point Hellenic Recovery US Feeder Fund, L.P. The Company is a limited partner in Third Point Hellenic Recovery US Feeder Fund, L.P. (the “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. The Company has committed to invest $10.7 million ( December 31, 2017 - $10.9 million ) in the Hellenic Fund and as of March 31, 2018 , had an unfunded capital commitment of $3.2 million . No capital distributions or calls were made during the three months ended March 31, 2018 and 2017 . As of March 31, 2018 , the estimated fair value of the Company’s investment in the Hellenic Fund was $4.0 million ( December 31, 2017 - $4.9 million), representing a 2.9% interest ( December 31, 2017 - 2.9% ). 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 NAV, as a practical expedient for fair value, in the condensed consolidated balance sheets. The Company records changes in the fair value of this investment in the condensed consolidated statements of income (loss) . 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. 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 March 31, 2018 , the Company held a 6.8% equity ( December 31, 2017 - 7.0% ) and 13.2% debt interest ( December 31, 2017 - 13.1% ) in TP DR. 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 NAV, as a practical expedient for fair value, in the condensed consolidated balance sheets. The Company records changes in the fair value of this investment in the condensed consolidated statements of income (loss) . As of March 31, 2018 , the estimated fair value of the investment was $12.6 million ( December 31, 2017 - $12.7 million ), corresponding to $3.4 million of equity ( December 31, 2017 - $3.7 million ) and $9.2 million of debt interest ( December 31, 2017 - $9.0 million ). During the three months ended March 31, 2018 , the Company contributed cash of $0.6 million ( 2017 - $ 0.4 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. Cloudbreak II Cayman Ltd and TP Trading II LLC The Company holds an equity interest in Cloudbreak II Cayman Ltd, Cloudbreak II US LLC (collectively, the “Cloudbreak entities”) and TP Trading II LLC which are affiliates of the Investment Manager. The Company invests in the Cloudbreak entities and TP Trading II LLC alongside other investment funds managed by the Investment Manager. These entities’ are invested in a structure whose primary purpose is to purchase consumer loans for securitization and warrants from a marketplace lending platform. As of March 31, 2018 , the Cloudbreak entities held $3.4 million ( December 31, 2017 - $4.6 million ) of the Company’s asset-backed security investments, which are included in investments in securities in the condensed consolidated balance sheet. The Company’s pro rata interest in the underlying investments is registered in the name of Cloudbreak II US LLC and the related income and expense are reflected in the condensed consolidated balance sheets and the condensed consolidated statements of income (loss) . As of March 31, 2018 , the Company held a 9.0% ( December 31, 2017 - 9.3% ) interest in TP Trading II LLC. The Company accounts for its equity investment in TP Trading II LLC under the variable interest model, in which the Company is not the primary beneficiary, at NAV, as a practical expedient for fair value, in the condensed consolidated balance sheets. The Company records changes in the fair value of this investment in the condensed consolidated statements of income (loss) . As of March 31, 2018 , the estimated fair value of the investment was $5.5 million ( December 31, 2017 - $6.0 million ). The valuation policy with respect to this investment is further described in Note 4. The Company’s maximum exposure to loss as a result of its involvement with these investments are limited to the carrying value of the investments. Ventures Entities The Company holds equity interests in Venture Three Holdings LLC, Venture Four Holdings LLC and Venture Five Holdings LLC (collectively, the “Ventures entities”), which are affiliates of the Investment Manager. The Company invests in the Ventures entities alongside other investment funds managed by the Investment Manager. The primary purpose of these entities is to make investments in direct commercial real estate and real estate debt. The Company accounts for its equity interests in the Ventures entities under the variable interest model, in which the Company is not the primary beneficiary. As of March 31, 2018 , the Ventures entities held $7.1 million ( December 31, 2017 - $7.5 million ) of the Company’s real estate and other debt investments, which are included in investments in securities in the condensed consolidated balance sheets. The Company records changes in the fair value of this investment in the condensed consolidated statements of income (loss) . The valuation policy with respect to this investment 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. As of March 31, 2018 , the Company had an unfunded capital commitment of $11.8 million related to an equity investment held through Venture Six Holdings LLC.

Earnings (loss)per share

Earnings (loss)per share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings (loss) per share	The following sets forth the computation of basic and diluted earnings (loss) per share available to Third Point Re common shareholders for the three months ended March 31, 2018 and 2017 : 2018 2017 Weighted-average number of common shares outstanding: ($ in thousands, except share and per share amounts) Basic number of common shares outstanding 101,195,747 104,013,871 Dilutive effect of options — 781,568 Dilutive effect of warrants — 722,816 Dilutive effect of restricted shares with service and performance condition — 183,344 Diluted number of common shares outstanding 101,195,747 105,701,599 Basic earnings (loss) per common share: Net income (loss) available to Third Point Re common shareholders $ (26,001 ) $ 104,186 Net income allocated to Third Point Re participating common shareholders — (139 ) Net income (loss) allocated to Third Point Re common shareholders $ (26,001 ) $ 104,047 Basic earnings (loss) per common share $ (0.26 ) $ 1.00 Diluted earnings (loss) per common share: Net income (loss) available to Third Point Re common shareholders $ (26,001 ) $ 104,186 Net income allocated to Third Point Re participating common shareholders — (136 ) Net income (loss) allocated to Third Point Re common shareholders $ (26,001 ) $ 104,050 Diluted earnings (loss) per common share $ (0.26 ) $ 0.98 For the three months ended March 31, 2018 and 2017 , anti-dilutive options of 3,764,521 and 4,322,659 , respectively, were excluded from the computation of diluted earnings per share. Additionally, as a result of the net loss for the three months ended March 31, 2018 , outstanding options, warrants and restricted shares with service and performance condition totaling 10,382,268 are 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	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related party transactions	In addition to the transactions disclosed in Notes 4 , 10 and 18 to these condensed consolidated financial statements, the following transactions are classified as related party transactions, 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 March 31, 2018 , Loan LLC held $86.8 million ( December 31, 2017 - $ 99.6 million ) and Ventures LLC held $32.0 million ( December 31, 2017 - $ 6.3 million ) of the Company’s investments, which are included in investments in securities and derivative contracts in the condensed 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 condensed consolidated balance sheets and the condensed consolidated statements of income (loss) . The valuation policy, with respect to investments held by the nominees, is further discussed in Note 4. BlackRock, Inc. (“BlackRock”) reported a beneficial ownership interest of more than 10% of the Company’s common shares as of December 31, 2017. As a result, BlackRock is considered a related party as defined by U.S. GAAP. As of March 31, 2018 , $79.6 million ( December 31, 2017 - $106.5 million ) of equity securities in BlackRock were included in the Company’s condensed consolidated balance sheets. Included in the Company’s net investment income (loss) in its condensed consolidated statements of income (loss) was $6.5 million and $ nil of investment income associated with the Company’s investment in BlackRock for the three months ended March 31, 2018 and 2017, respectively.

Financial instruments with off-

Financial instruments with off-balance sheet risk or concentrations of credit risk	3 Months Ended
	Mar. 31, 2018
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 condensed consolidated balance sheets. Securities sold, not yet purchased are recorded as liabilities in the condensed 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 condensed consolidated balance sheets. The Company’s investments in securities and commodities 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 condensed 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 March 31, 2018 , the investment portfolio had a maximum payout amount of approximately $677.9 million ( December 31, 2017 - $ 399.2 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 March 31, 2018 was $4.7 million ( December 31, 2017 - $ 3.5 million) and is included in securities sold, not yet purchased in the condensed 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 March 31, 2018 , 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 March 31, 2018 and December 31, 2017 : March 31, 2018 Maximum Payout/ Notional Amount Fair Value of Written Credit Derivatives (2) Credit Spreads on underlying (basis points) 0-5 years 5 years or Total Written (1) Asset Liability Net Asset/(Liability) Single name (0 - 250) $ 2,263 $ 2,440 $ 4,703 $ — $ 2,448 $ (2,448 ) December 31, 2017 Maximum Payout/ Notional Amount Fair Value of Written Credit Derivatives (2) Credit Spreads on underlying (basis points) 0-5 years 5 years or Total Written (1) Asset Liability Net Asset/(Liability) Single name (0 - 250) $ — $ 2,351 $ 2,351 $ — $ 2,085 $ (2,085 ) (1) As of March 31, 2018 and December 31, 2017 , 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 condensed consolidated balance sheets. As of March 31, 2018 , the Company’s maximum counterparty credit risk exposure was $66.1 million ( December 31, 2017 - $ 76.4 million). Underwriting The Company is exposed to credit risk through reinsurance contracts with companies that write credit risk insurance. The Company’s portfolio of risk is predominantly U.S. mortgage insurance and mortgage credit risk transfer. The Company provides its clients in these lines of business with reinsurance protection against credit deterioration, defaults or other types of financial non-performance. Loss experience in these lines of business has been very good but is cyclical and is affected by the state of the general economic environment. The Company proactively manages the risks associated with these credit-sensitive lines of business by closely monitoring its risk aggregation and by diversifying the underlying risks where possible. The Company has bought some retrocessional coverage against a subset of these risks. 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 funds withheld and 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 or acquisition costs 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	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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. 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 condensed 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 Re, 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. The Company is not currently involved in any material formal or informal dispute resolution procedures.

Segment reporting

Segment reporting	3 Months Ended
	Mar. 31, 2018
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 and income tax expense . The Company does not manage its assets by segment; accordingly, total assets are not allocated to the segments. The following is a summary of the Company’s operating segment results for the three months ended March 31, 2018 and 2017 : Three months ended March 31, 2018 Property and Casualty Reinsurance Corporate Total Revenues Gross premiums written $ 378,360 $ — $ 378,360 Gross premiums ceded (14,646 ) — (14,646 ) Net premiums written 363,714 — 363,714 Change in net unearned premium reserves (221,228 ) — (221,228 ) Net premiums earned 142,486 — 142,486 Expenses Loss and loss adjustment expenses incurred, net 92,620 — 92,620 Acquisition costs, net 51,405 — 51,405 General and administrative expenses 4,824 4,657 9,481 Total expenses 148,849 4,657 153,506 Net underwriting loss (6,363 ) n/a n/a Net investment income (loss) 2,599 (4,807 ) (2,208 ) Other expenses (3,995 ) — (3,995 ) Interest expense — (2,029 ) (2,029 ) Foreign exchange losses (1) (6,611 ) — (6,611 ) Income tax expense — (128 ) (128 ) Net income attributable to noncontrolling interests in related party — (10 ) (10 ) Segment loss $ (14,370 ) $ (11,631 ) Net loss attributable to Third Point Re common shareholders $ (26,001 ) Property and Casualty Reinsurance - Underwriting Ratios (2): Loss ratio 65.0 % Acquisition cost ratio 36.1 % Composite ratio 101.1 % General and administrative expense ratio 3.4 % Combined ratio 104.5 % (1) Foreign exchange losses primarily result from the revaluation of foreign currency loss and loss adjustment expense reserves denominated in non-U.S. dollar. Non-U.S. dollar reinsurance assets, or balances held in trust accounts securing reinsurance liabilities generally offset reinsurance liabilities in the same non-U.S. dollar currencies resulting in minimal net exposure. As a result, the foreign exchange losses on loss and loss adjustment expense reserves in the period are offset by corresponding foreign exchange gains included in net investment income resulting from the revaluation of foreign currency reinsurance collateral held in trust accounts, which is presented as part of the Property and Casualty segment. For the three months ended March 31, 2018, the Company modified the presentation of its operating segment to allocate foreign exchange losses to the Property and Casualty Reinsurance Segment to better align with the reinsurance activities that result in these foreign exchange gains and losses. These amounts had previously been presented as part of the Company’s corporate function. Prior period segment results have been adjusted to conform to this presentation. (2) Underwriting ratios are calculated by dividing the related expense by net premiums earned. Three months ended March 31, 2017 Property and Casualty Reinsurance Corporate Total Revenues Gross premiums written $ 146,354 $ — $ 146,354 Gross premiums ceded (1,125 ) — (1,125 ) Net premiums written 145,229 — 145,229 Change in net unearned premium reserves (7,220 ) — (7,220 ) Net premiums earned 138,009 — 138,009 Expenses Loss and loss adjustment expenses incurred, net 85,895 — 85,895 Acquisition costs, net 54,452 — 54,452 General and administrative expenses 6,312 4,260 10,572 Total expenses 146,659 4,260 150,919 Net underwriting loss (8,650 ) n/a n/a Net investment income 36,120 92,390 128,510 Other expenses (2,901 ) — (2,901 ) Interest expense — (2,026 ) (2,026 ) Foreign exchange losses (1) (15 ) — (15 ) Income tax expense — (5,298 ) (5,298 ) Net income attributable to noncontrolling interests in related party — (1,174 ) (1,174 ) Segment income $ 24,554 $ 79,632 Net income available to Third Point Re common shareholders $ 104,186 Property and Casualty Reinsurance - Underwriting Ratios (2): Loss ratio 62.2 % Acquisition cost ratio 39.5 % Composite ratio 101.7 % General and administrative expense ratio 4.6 % Combined ratio 106.3 % (1) Foreign exchange losses primarily result from the revaluation of foreign currency loss and loss adjustment expense reserves denominated in non-U.S. dollar. Non-U.S. dollar reinsurance assets, or balances held in trust accounts securing reinsurance liabilities generally offset reinsurance liabilities in the same non-U.S. dollar currencies resulting in minimal net exposure. As a result, the foreign exchange losses on loss and loss adjustment expense reserves in the period are offset by corresponding foreign exchange gains included in net investment income resulting from the revaluation of foreign currency reinsurance collateral held in trust accounts, which is presented as part of the Property and Casualty segment. For the three months ended March 31, 2018, the Company modified the presentation of its operating segment to allocate foreign exchange losses to the Property and Casualty Reinsurance Segment to better align with the reinsurance activities that result in these foreign exchange gains and losses. These amounts had previously been presented as part of the Company’s corporate function. Prior period segment results have been adjusted to conform to this presentation. (2) 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 three months ended March 31, 2018 and 2017 as a percentage of total gross premiums written in the relevant period: 2018 2017 Largest contract 24.2 % 36.9 % Second largest contract n/a 12.9 % Third largest contract n/a 11.5 % Total for contracts contributing greater than 10% each 24.2 % 61.3 % Total for contracts contributing less than 10% each 75.8 % 38.7 % 100.0 % 100.0 % The following table provides a breakdown of the Company’s gross premiums written by line of business for the three months ended March 31, 2018 and 2017 : 2018 2017 Property $ 369 0.1 % $ 12 — % Casualty 153,220 40.5 % 87,205 59.6 % Specialty 224,771 59.4 % 59,137 40.4 % Total prospective reinsurance contracts 378,360 100.0 % 146,354 100.0 % Retroactive reinsurance contracts — — % — — % $ 378,360 100.0 % $ 146,354 100.0 % Substantially all of the Company’s business is sourced through reinsurance brokers. The following table sets forth the Company’s premiums written by source that individually contributed more than 10% of total gross premiums written for the three months ended March 31, 2018 and 2017 : 2018 2017 Largest broker $ 169,261 44.7 % $ 67,689 46.3 % Second largest broker 139,555 36.9 % 24,149 16.5 % Third largest broker n/a n/a 16,029 11.0 % Other 69,544 18.4 % 38,487 26.2 % $ 378,360 100.0 % $ 146,354 100.0 % The following table provides a breakdown of the Company’s gross premiums written by domicile of the ceding companies for the three months ended March 31, 2018 and 2017 : 2018 2017 United States $ 232,871 61.6 % $ 42,430 29.0 % Bermuda 70,353 18.6 % 54,075 36.9 % United Kingdom 51,985 13.7 % 49,849 34.1 % Other 23,151 6.1 % — — % $ 378,360 100.0 % $ 146,354 100.0 %

Supplemental Guarantor Informat

Supplemental Guarantor Information	3 Months Ended
	Mar. 31, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Supplemental Guarantor Information	Third Point Re fully and unconditionally guarantees the $115.0 million of Notes issued by TPRUSA, a wholly owned subsidiary. The following information sets forth condensed consolidating balance sheets as of March 31, 2018 and December 31, 2017 , condensed consolidating statements of income and condensed consolidating statements of cash flows for the three months ended March 31, 2018 and 2017 for Third Point Re, TPRUSA and the non-guarantor subsidiaries of Third Point Re. 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. CONDENSED CONSOLIDATING BALANCE SHEET As of March 31, 2018 Third Point Re TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Assets Equity securities $ — $ — $ 2,133,170 $ — $ 2,133,170 Debt securities — — 635,322 — 635,322 Other investments — — 43,109 — 43,109 Total investments in securities — — 2,811,601 — 2,811,601 Cash and cash equivalents 1 198 6,211 — 6,410 Restricted cash and cash equivalents — — 543,173 — 543,173 Investment in subsidiaries 1,634,213 272,856 165,082 (2,072,151 ) — Due from brokers — — 318,703 — 318,703 Derivative assets, at fair value — — 54,114 — 54,114 Interest and dividends receivable — — 4,167 — 4,167 Reinsurance balances receivable — — 684,897 — 684,897 Deferred acquisition costs, net — — 308,903 — 308,903 Unearned premiums ceded — — 15,061 — 15,061 Loss and loss adjustment expenses recoverable — — 1,332 — 1,332 Amounts due from (to) affiliates (26,268 ) (3,623 ) 29,891 — — Other assets 520 — 7,352 — 7,872 Total assets $ 1,608,466 $ 269,431 $ 4,950,487 $ (2,072,151 ) $ 4,756,233 Liabilities Accounts payable and accrued expenses (1) $ 1,044 $ (9,240 ) $ 19,469 $ — $ 11,273 Reinsurance balances payable — — 50,799 — 50,799 Deposit liabilities — — 129,957 — 129,957 Unearned premium reserves — — 884,758 — 884,758 Loss and loss adjustment expense reserves — — 761,631 — 761,631 Securities sold, not yet purchased, at fair value — — 355,447 — 355,447 Securities sold under an agreement to repurchase — — 19,067 — 19,067 Due to brokers — — 792,633 — 792,633 Derivative liabilities, at fair value — — 14,510 — 14,510 Performance fee payable to related party — — 20 — 20 Interest and dividends payable — 1,015 2,034 — 3,049 Senior notes payable, net of deferred costs — 113,777 — — 113,777 Total liabilities 1,044 105,552 3,030,325 — 3,136,921 Redeemable noncontrolling interests in related party — — 6,801 — 6,801 Shareholders’ equity Common shares 10,224 — 1,239 (1,239 ) 10,224 Additional paid-in capital 1,029,179 165,290 1,533,076 (1,698,366 ) 1,029,179 Retained earnings (deficit) 568,019 (1,411 ) 373,957 (372,546 ) 568,019 Shareholders’ equity attributable to Third Point Re common shareholders 1,607,422 163,879 1,908,272 (2,072,151 ) 1,607,422 Noncontrolling interests in related party — — 5,089 — 5,089 Total shareholders’ equity 1,607,422 163,879 1,913,361 (2,072,151 ) 1,612,511 Total liabilities, noncontrolling interests and shareholders’ equity $ 1,608,466 $ 269,431 $ 4,950,487 $ (2,072,151 ) $ 4,756,233 (1) Negative balance of $9.2 million represents net deferred tax assets that are offset by net deferred tax liabilities in Third Point Re USA of $9.6 million , resulting in a net liability position as of March 31, 2018 . CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2017 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Assets Equity securities $ — $ — $ 2,283,050 $ — $ 2,283,050 Debt securities — — 675,158 — 675,158 Other investments — — 37,731 — 37,731 Total investments in securities — — 2,995,939 — 2,995,939 Cash and cash equivalents 9 199 7,989 — 8,197 Restricted cash and cash equivalents — — 541,136 — 541,136 Investment in subsidiaries 1,657,467 274,272 164,909 (2,096,648 ) — Due from brokers — — 305,093 — 305,093 Derivative assets, at fair value — — 73,372 — 73,372 Interest and dividends receivable — — 3,774 — 3,774 Reinsurance balances receivable — — 476,008 — 476,008 Deferred acquisition costs, net — — 258,793 — 258,793 Unearned premiums ceded — — 1,049 — 1,049 Loss and loss adjustment expenses recoverable — — 1,113 — 1,113 Amounts due from (to) affiliates (1,288 ) 412 876 — — Other assets 664 — 6,656 — 7,320 Total assets $ 1,656,852 $ 274,883 $ 4,836,707 $ (2,096,648 ) $ 4,671,794 Liabilities Accounts payable and accrued expenses $ 763 $ (8,805 ) $ 42,674 $ — $ 34,632 Reinsurance balances payable — — 41,614 — 41,614 Deposit liabilities — — 129,133 — 129,133 Unearned premium reserves — — 649,518 — 649,518 Loss and loss adjustment expense reserves — — 720,570 — 720,570 Securities sold, not yet purchased, at fair value — — 394,278 — 394,278 Securities sold under an agreement to repurchase — — 29,618 — 29,618 Due to brokers — — 770,205 — 770,205 Derivative liabilities, at fair value — — 14,503 — 14,503 Interest and dividends payable — 3,055 1,220 — 4,275 Senior notes payable, net of deferred costs — 113,733 — — 113,733 Total liabilities 763 107,983 2,793,333 — 2,902,079 Redeemable noncontrolling interests in related party — — 108,219 — 108,219 Shareholders’ equity Common shares 10,723 — 1,250 (1,250 ) 10,723 Treasury shares (48,253 ) — — — (48,253 ) Additional paid-in capital 1,099,599 165,097 1,531,770 (1,696,867 ) 1,099,599 Retained earnings (deficit) 594,020 1,803 396,728 (398,531 ) 594,020 Shareholders' equity attributable to Third Point Re common shareholders 1,656,089 166,900 1,929,748 (2,096,648 ) 1,656,089 Noncontrolling interests in related party — — 5,407 — 5,407 Total shareholders' equity 1,656,089 166,900 1,935,155 (2,096,648 ) 1,661,496 Total liabilities, noncontrolling interests and shareholders’ equity $ 1,656,852 $ 274,883 $ 4,836,707 $ (2,096,648 ) $ 4,671,794 CONDENSED CONSOLIDATING STATEMENTS OF LOSS For the three months ended March 31, 2018 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 378,360 $ — $ 378,360 Gross premiums ceded — — (14,646 ) — (14,646 ) Net premiums written — — 363,714 — 363,714 Change in net unearned premium reserves — — (221,228 ) — (221,228 ) Net premiums earned — — 142,486 — 142,486 Net investment loss — — (2,208 ) — (2,208 ) Equity in losses of subsidiaries (24,358 ) (1,609 ) (18 ) 25,985 — Total revenues (24,358 ) (1,609 ) 140,260 25,985 140,278 Expenses Loss and loss adjustment expenses incurred, net — — 92,620 — 92,620 Acquisition costs, net — — 51,405 — 51,405 General and administrative expenses 1,643 3 7,835 — 9,481 Other expenses — — 3,995 — 3,995 Interest expense — 2,029 — — 2,029 Foreign exchange losses — — 6,611 — 6,611 Total expenses 1,643 2,032 162,466 — 166,141 Loss before income tax benefit (26,001 ) (3,641 ) (22,206 ) 25,985 (25,863 ) Income tax (expense) benefit — 427 (555 ) — (128 ) Net loss (26,001 ) (3,214 ) (22,761 ) 25,985 (25,991 ) Net income attributable to noncontrolling interests in related party — — (10 ) — (10 ) Net loss attributable to Third Point Re common shareholders $ (26,001 ) $ (3,214 ) $ (22,771 ) $ 25,985 $ (26,001 ) CONDENSED CONSOLIDATING STATEMENTS OF INCOME For the three months ended March 31, 2017 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 146,354 $ — $ 146,354 Gross premiums ceded — — (1,125 ) — (1,125 ) Net premiums written — — 145,229 — 145,229 Change in net unearned premium reserves — — (7,220 ) — (7,220 ) Net premiums earned — — 138,009 — 138,009 Net investment income — — 128,510 — 128,510 Equity in earnings of subsidiaries 105,370 8,989 5 (114,364 ) — Total revenues 105,370 8,989 266,524 (114,364 ) 266,519 Expenses Loss and loss adjustment expenses incurred, net — — 85,895 — 85,895 Acquisition costs, net — — 54,452 — 54,452 General and administrative expenses 1,184 8 9,380 — 10,572 Other expenses — — 2,901 — 2,901 Interest expense — 2,026 — — 2,026 Foreign exchange losses — — 15 — 15 Total expenses 1,184 2,034 152,643 — 155,861 Income before income tax expense 104,186 6,955 113,881 (114,364 ) 110,658 Income tax (expense) benefit — 712 (6,010 ) — (5,298 ) Net income 104,186 7,667 107,871 (114,364 ) 105,360 Net income attributable to noncontrolling interests in related party — — (1,174 ) — (1,174 ) Net income available to Third Point Re common shareholders $ 104,186 $ 7,667 $ 106,697 $ (114,364 ) $ 104,186 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2018 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Net loss $ (26,001 ) $ (3,214 ) $ (22,761 ) $ 25,985 $ (25,991 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Equity in (earnings) losses of subsidiaries 24,358 1,609 18 (25,985 ) — Share compensation expense 141 — 1,104 — 1,245 Net interest expense on deposit liabilities — — 1,261 — 1,261 Net unrealized loss on investments and derivatives — — 62,940 — 62,940 Net realized gain on investments and derivatives — — (65,770 ) — (65,770 ) Net foreign exchange losses — — 6,611 — 6,611 Amortization of premium and accretion of discount, net — 44 2,578 — 2,622 Changes in assets and liabilities: Reinsurance balances receivable — — (208,414 ) — (208,414 ) Deferred acquisition costs, net — — (50,110 ) — (50,110 ) Unearned premiums ceded — — (14,012 ) — (14,012 ) Loss and loss adjustment expenses recoverable — — (219 ) — (219 ) Other assets 144 — (703 ) — (559 ) Interest and dividends receivable, net — (2,040 ) 421 — (1,619 ) Unearned premium reserves — — 235,240 — 235,240 Loss and loss adjustment expense reserves — — 34,392 — 34,392 Accounts payable and accrued expenses 281 (435 ) (23,228 ) — (23,382 ) Reinsurance balances payable — — 9,025 — 9,025 Performance fees payable to related party — — 20 — 20 Amounts due from (to) affiliates 24,980 4,035 (29,015 ) — — Net cash provided by (used in) operating activities 23,903 (1 ) (60,622 ) — (36,720 ) Investing activities Purchases of investments — — (1,032,890 ) — (1,032,890 ) Proceeds from sales of investments — — 1,221,157 — 1,221,157 Purchases of investments to cover short sales — — (300,467 ) — (300,467 ) Proceeds from short sales of investments — — 277,174 — 277,174 Change in due to/from brokers, net — — 8,818 — 8,818 Increase in securities sold under an agreement to repurchase — — (10,551 ) — (10,551 ) Net cash provided by investing activities — — 163,241 — 163,241 Financing activities Taxes paid on withholding shares (74 ) — — — (74 ) Purchases of Third Point Re common shares under share repurchase program (23,837 ) — — — (23,837 ) Decrease in deposit liabilities, net — — (614 ) — (614 ) Change in total noncontrolling interests in related party, net — — (101,746 ) — (101,746 ) Net cash provided by (used in) financing activities (23,911 ) — (102,360 ) — (126,271 ) Net increase (decrease) in cash, cash equivalents and restricted cash (8 ) (1 ) 259 — 250 Cash, cash equivalents and restricted cash at beginning of period 9 199 549,125 — 549,333 Cash, cash equivalents and restricted cash at end of period $ 1 $ 198 $ 549,384 $ — $ 549,583 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2017 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Net income $ 104,186 $ 7,667 $ 107,871 $ (114,364 ) $ 105,360 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in (earnings) losses of subsidiaries (105,370 ) (8,989 ) (5 ) 114,364 — Share compensation expense — — 1,830 — 1,830 Net interest income on deposit liabilities — — 409 — 409 Net unrealized gain on investments and derivatives — — (95,703 ) — (95,703 ) Net realized gain on investments and derivatives — — (61,028 ) — (61,028 ) Net foreign exchange losses — — 15 — 15 Amortization of premium and accretion of discount, net — 44 (709 ) — (665 ) Changes in assets and liabilities: Reinsurance balances receivable — — (37,281 ) — (37,281 ) Deferred acquisition costs, net — — 864 — 864 Unearned premiums ceded — — (946 ) — (946 ) Loss and loss adjustment expenses recoverable — — (51 ) — (51 ) Other assets 144 (713 ) 4,641 — 4,072 Interest and dividends receivable, net — (2,042 ) (538 ) — (2,580 ) Unearned premium reserves — — 8,167 — 8,167 Loss and loss adjustment expense reserves — — 18,798 — 18,798 Accounts payable and accrued expenses 80 — 1,099 — 1,179 Reinsurance balances payable — — 8,051 — 8,051 Performance fees payable to related party — — 30,857 — 30,857 Amounts due from (to) affiliates 17,777 (4,266 ) (13,511 ) — — Net cash provided by (used in) operating activities 16,817 (8,299 ) (27,170 ) — (18,652 ) Investing activities Purchases of investments — — (613,020 ) — (613,020 ) Proceeds from sales of investments — — 940,797 — 940,797 Purchases of investments to cover short sales — — (120,014 ) — (120,014 ) Proceeds from short sales of investments — — 232,856 — 232,856 Change in due to/from brokers, net — — (362,792 ) — (362,792 ) Increase in securities sold under an agreement to repurchase — — 16,524 — 16,524 Net cash provided by investing activities — — 94,351 — 94,351 Financing activities Proceeds from issuance of Third Point Re common shares, net of costs 498 — — — 498 Purchases of Third Point Re common shares under share repurchase program (18,884 ) — — — (18,884 ) Increase in deposit liabilities, net — — 437 — 437 Change in total noncontrolling interests in related party, net — — (19,999 ) — (19,999 ) Dividend received by (paid to) parent — 8,300 (8,300 ) — — Net cash provided by (used in) financing activities (18,386 ) 8,300 (27,862 ) — (37,948 ) Net increase (decrease) in cash, cash equivalents and restricted cash (1,569 ) 1 39,319 — 37,751 Cash, cash equivalents and restricted cash at beginning of period 1,629 79 307,183 — 308,891 Cash, cash equivalents and restricted cash at end of period $ 60 $ 80 $ 346,502 $ — $ 346,642

Restricted cash and cash equi30

Restricted cash and cash equivalents and restricted investments (Tables)	3 Months Ended
	Mar. 31, 2018
Cash and Cash Equivalents [Abstract]
Schedule of restricted cash and cash equivalents	The following table provides a reconciliation of cash and cash equivalents, restricted cash and restricted investments as of March 31, 2018 and December 31, 2017 : March 31, December 31, Cash and cash equivalents $ 6,410 $ 8,197 Restricted cash securing letter of credit facilities (1) 236,994 250,487 Restricted cash securing other reinsurance contracts (2) 306,179 290,649 Total cash, cash equivalents and restricted cash (3) 549,583 549,333 Restricted investments securing other reinsurance contracts (2) 323,928 326,429 Total cash, cash equivalents, restricted cash and restricted investments $ 873,511 $ 875,762 (1) Restricted cash securing letter of credit facilities primarily pertains to letters of credit issued to clients and cash securing these obligations that the Company will not be released 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. (3) Cash, cash equivalents and restricted cash as reported in the Company’s condensed consolidated statements of cash flows.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of the separate account 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: March 31, December 31, Assets Total investments in securities $ 2,811,372 $ 2,995,097 Cash and cash equivalents 476 8 Restricted cash and cash equivalents 543,173 541,136 Due from brokers 318,703 305,093 Derivative assets, at fair value 54,114 73,372 Interest and dividends receivable 4,167 3,774 Total assets 3,732,005 3,918,480 Liabilities and noncontrolling interests in related party Accounts payable and accrued expenses 3,616 5,137 Securities sold, not yet purchased 355,447 394,278 Securities sold under an agreement to repurchase 19,067 29,618 Due to brokers 792,633 770,205 Derivative liabilities, at fair value 14,510 14,503 Performance fee payable to related party 20 — Interest and dividends payable 2,034 1,218 Total noncontrolling interests in related party (1) 11,890 113,626 Total liabilities and noncontrolling interests in related party 1,199,217 1,328,585 Total net investments managed by Third Point LLC $ 2,532,788 $ 2,589,895
Schedule of the largest concentration of the Company's asset-backed securities	As of March 31, 2018 and December 31, 2017 , the Company’s asset-backed securities (“ABS”) holdings were as follows: March 31, 2018 December 31, 2017 Reperforming loans $ 133,481 70.5 % $ 160,354 71.1 % Market place loans 43,164 22.8 % 52,584 23.3 % Other (1) 12,676 6.7 % 12,561 5.6 % $ 189,321 100.0 % $ 225,499 100.0 % (1)
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 March 31, 2018 and December 31, 2017 : March 31, 2018 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets Equity securities $ 2,064,380 $ 9,207 $ — $ 2,073,587 Private common equity securities — — 4,352 4,352 Private preferred equity securities — — 55,231 55,231 Total equities 2,064,380 9,207 59,583 2,133,170 Asset-backed securities — 162,065 27,256 189,321 Bank debt — 19,794 — 19,794 Corporate bonds — 55,637 10,081 65,718 Municipal bonds — 27,452 — 27,452 U.S. Treasury securities — 240,549 — 240,549 Sovereign debt — 87,485 — 87,485 Other debt securities — 5,003 — 5,003 Total debt securities — 597,985 37,337 635,322 Options 3,148 11,965 — 15,113 Rights and warrants — 143 819 962 Real estate — — 6,937 6,937 Trade claims — 3,423 — 3,423 Total other investments 3,148 15,531 7,756 26,435 Derivative assets (free standing) — 54,114 — 54,114 $ 2,067,528 $ 676,837 $ 104,676 2,849,041 Investments in funds valued at NAV 16,674 Total assets $ 2,865,715 Liabilities Equity securities $ 330,043 $ — $ — $ 330,043 Corporate bonds — 16,949 — 16,949 Options 2,973 5,413 — 8,386 Trade claims — 69 — 69 Total securities sold, not yet purchased 333,016 22,431 — 355,447 Derivative liabilities (free standing) — 12,514 1,996 14,510 Derivative liabilities (embedded) — — 124 124 Total liabilities $ 333,016 $ 34,945 $ 2,120 $ 370,081 December 31, 2017 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets Equity securities $ 2,200,379 $ 20,751 $ — $ 2,221,130 Private common equity securities — — 4,794 4,794 Private preferred equity securities — — 57,126 57,126 Total equities 2,200,379 20,751 61,920 2,283,050 Asset-backed securities — 198,191 27,308 225,499 Bank debt — 14,550 — 14,550 Corporate bonds — 67,218 9,868 77,086 U.S. Treasury securities — 249,994 — 249,994 Sovereign debt — 102,569 — 102,569 Other debt securities — 4,747 713 5,460 Total debt securities — 637,269 37,889 675,158 Options 1,973 2,978 — 4,951 Rights and warrants — 168 435 603 Real estate — — 6,831 6,831 Trade claims — 7,496 — 7,496 Total other investments 1,973 10,642 7,266 19,881 Derivative assets (free standing) — 73,372 — 73,372 $ 2,202,352 $ 742,034 $ 107,075 3,051,461 Investments in funds valued at NAV 17,850 Total assets $ 3,069,311 Liabilities Equity securities $ 364,215 $ — $ — $ 364,215 Corporate bonds — 21,699 — 21,699 Options 2,668 5,696 — 8,364 Total securities sold, not yet purchased 366,883 27,395 — 394,278 Derivative liabilities (free standing) — 12,418 2,085 14,503 Derivative liabilities (embedded) — — 171 171 Total liabilities $ 366,883 $ 39,813 $ 2,256 $ 408,952 During the three months ended March 31, 2018 , the Company made $nil ( December 31, 2017 - $ nil ) of reclassifications of assets or liabilities between Levels 1 and 2.
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 three months ended March 31, 2018 and 2017 : January 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (1) March 31, Assets Private common equity securities $ 4,794 $ — $ — $ — $ (442 ) $ 4,352 Private preferred equity securities 57,126 — 161 (15 ) (2,041 ) 55,231 Asset-backed securities 27,308 1,839 12,197 (12,446 ) (1,642 ) 27,256 Corporate bonds 9,868 — 20 — 193 10,081 Other debt securities 713 — — (892 ) 179 — Rights and warrants 435 — 582 (204 ) 6 819 Real estate 6,831 — — (153 ) 259 6,937 Total assets $ 107,075 $ 1,839 $ 12,960 $ (13,710 ) $ (3,488 ) $ 104,676 Liabilities Derivative liabilities (free standing) $ (2,085 ) $ — $ — $ — $ 89 $ (1,996 ) Derivative liabilities (embedded) (171 ) — — — 47 (124 ) Total liabilities $ (2,256 ) $ — $ — $ — $ 136 $ (2,120 ) January 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (1) March 31, Assets Private common equity securities $ 4,799 $ — $ — $ — $ (54 ) $ 4,745 Private preferred equity securities 48,834 — — (371 ) (113 ) 48,350 Asset-backed securities 17,628 1,347 13,252 (10,796 ) (646 ) 20,785 Bank debt 8,350 — — (254 ) 626 8,722 Corporate bonds 9,255 — — (266 ) (5 ) 8,984 Total assets $ 88,866 $ 1,347 $ 13,252 $ (11,687 ) $ (192 ) $ 91,586 Liabilities Derivative liabilities (free standing) $ (1,326 ) $ — $ — $ — $ — $ (1,326 ) Derivative liabilities (embedded) (92 ) — — — (19 ) (111 ) Total liabilities $ (1,418 ) $ — $ — $ — $ (19 ) $ (1,437 ) (1) Total change in realized and unrealized gains (losses) recorded on Level 3 financial instruments is included in net investment income (loss) in the condensed consolidated statements of income (loss) .
Schedule of significant unobservable inputs used	he 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 are insignificant or do not have any unobservable inputs to disclose, as they are valued primarily using dealer quotes or at cost. March 31, 2018 Assets Fair value Valuation technique Unobservable input Range Private equity investments $ 6,357 Market approach Volatility 35.0% - 65.0% Time to exit 1 - 1.5 years Multiple 6.5 - 8.8x Real estate 6,937 Discounted cash flow Discount rate 9.5 % Capitalization rate 6.5% - 10.0% Rights and warrants 818 Discounted cash flow Discount rate 15.8 % Time to exit 5 years Market approach Multiple 3 - 3.5x December 31, 2017 Assets Fair value Valuation technique Unobservable input Range Private equity investments $ 37,507 Market approach Volatility 35.0% - 65.0% Time to exit 0.5 - 1.8 years Multiple 7.8 - 24.4x Real estate 6,831 Discounted cash flow Discount rate 9.5 % Capitalization rate 6.5% - 10.0% Other debt securities 713 Discounted cash flow Capitalization rate 10.0 % Rights and warrants 433 Discounted cash flow Discount rate 13.5 % Time to exit 5.0 years Market approach Multiple 3.8 - 4.6x

Securities purchased under an32

Securities purchased under an agreement to sell, securities sold under an agreement to repurchase and securities lending transactions (Tables)	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Schedule of Repurchase Agreements	The following table presents the remaining contractual maturity of the repurchase agreements and securities lending transactions by class of collateral pledged as of March 31, 2018 and December 31, 2017 : March 31, 2018 Overnights and continuous Up to 30 days 30 - 90 days Greater than 90 days Total Repurchase agreements Asset-backed securities $ — $ 18,673 $ — $ — $ 18,673 Corporate securities — — — 394 394 $ — $ 18,673 $ — $ 394 $ 19,067 Securities lending transactions U.S. Treasury and agency securities $ 843 $ — $ — $ — $ 843 December 31, 2017 Overnights and continuous Up to 30 days 30 - 90 days Greater than 90 days Total Repurchase agreements Asset-backed securities $ — $ 10,774 $ 18,844 $ — $ 29,618

Due from_to brokers (Tables)

Due from/to brokers (Tables)	3 Months Ended
	Mar. 31, 2018
Due to and from Broker-Dealers and Clearing Organizations [Abstract]
Schedule of Due to (from) Brokers	As of March 31, 2018 and December 31, 2017 , the Company’s due from/to brokers were comprised of the following: March 31, December 31, Due from brokers Cash held at brokers $ 260,002 $ 295,467 Receivable from unsettled trades (1) 58,701 9,626 $ 318,703 $ 305,093 Due to brokers Borrowing from prime brokers $ 751,494 $ 759,267 Payable from unsettled trades 41,139 10,938 $ 792,633 $ 770,205 (1) Receivables relating to securities sold by the Company are recorded as receivable from unsettled trades in due from brokers in the Company’s condensed consolidated balance sheets.

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2018
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 condensed consolidated balance sheets, categorized by primary underlying risk. Balances are presented on a gross basis. As of March 31, 2018 Listing currency (1) Fair Value Notional Amounts (2) Derivative Assets by Primary Underlying Risk Credit Credit Default Swaps - Protection Purchased USD $ 9,020 $ 56,381 Total Return Swaps - Long Contracts EGP 23,013 23,013 Equity Price Contracts for Differences - Long Contracts BRL/EUR/USD 10,817 115,267 Contracts for Differences - Short Contracts EUR/SEK/USD 3,709 28,931 Total Return Swaps - Long Contracts BRL 787 17,315 Interest Rates Interest Rate Swaptions JPY 273 68,591 Foreign Currency Exchange Rates Foreign Currency Forward Contracts BRL/CHF/EUR/HKD/JPY 5,548 716,389 Foreign Currency Options - Purchased CNH/EUR/JPY 947 76,977 Total Derivative Assets $ 54,114 $ 1,102,864 Listing currency (1) Fair Value Notional Amounts (2) Derivative Liabilities by Primary Underlying Risk Credit Credit Default Swaps - Protection Purchased USD $ 86 $ 12,928 Credit Default Swaps - Protection Sold USD 2,448 4,703 Equity Price Contracts for Differences - Long Contracts BRL/EUR/GBP/USD 4,297 66,894 Contracts for Differences - Short Contracts EUR/GBP/JPY 182 9,257 Total Return Swaps - Short Contracts USD 119 86,050 Interest Rates Interest Rate Swaptions JPY 26 68,344 Sovereign Debt Futures - Short Contracts EUR 24 125,774 Foreign Currency Exchange Rates Foreign Currency Forward Contracts CNH/SAR 7,287 210,796 Foreign Currency Options - Sold CNH 41 71,084 Total Derivative Liabilities (free standing) $ 14,510 $ 655,830 Embedded derivative liabilities in reinsurance contracts (3) USD $ 124 $ 20,000 Total Derivative Liabilities (embedded) $ 124 $ 20,000 (1) BRL = Brazilian Real, CHF = Swiss Franc, CNH = Chinese Yuan, EGP = Egyptian Pound, EUR = Euro, HKD = Hong Kong Dollar, GBP = British Pound, JPY = Japanese Yen, SAR = Saudi Arabian Riyal, SEK = Swedish Krona, USD = US Dollar. (2) The absolute notional exposure represents the Company’s derivative activity as of March 31, 2018 , 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 condensed consolidated balance sheets. As of December 31, 2017 Listing currency (1) Fair Value Notional Amounts (2) Derivative Assets by Primary Underlying Risk Credit Credit Default Swaps - Protection Purchased USD $ 8,205 $ 50,593 Total Return Swaps - Long Contracts EGP 25,245 25,245 Equity Price Contracts for Differences - Long Contracts BRL / CHF / EUR / USD 17,298 163,868 Contracts for Differences - Short Contracts DKK / NOK / SEK / USD 4,384 31,992 Total Return Swaps - Long Contracts BRL / USD 15,936 96,388 Total Return Swaps - Short Contracts USD 1 — Interest Rates Interest Rate Swaptions JPY 539 64,950 Foreign Currency Exchange Rates Foreign Currency Forward Contracts HKD / JPY 1,764 511,937 Total Derivative Assets $ 73,372 $ 944,973 Listing currency (1) Fair Value Notional Amounts (2) Derivative Liabilities by Primary Underlying Risk Credit Credit Default Swaps - Protection Purchased USD $ 1,250 $ 19,418 Credit Default Swaps - Protection Sold USD 2,085 2,351 Equity Price Contracts for Differences - Long Contracts BRL / EUR / USD 2,200 93,200 Contracts for Differences - Short Contracts DKK / EUR / USD 776 8,483 Total Return Swaps - Long Contracts BRL / USD 73 50,858 Total Return Swaps - Short Contracts USD 1,885 52,657 Interest Rates Interest Rate Swaptions JPY 70 64,482 Foreign Currency Exchange Rates Foreign Currency Forward Contracts BRL / CHF / CNH / EUR / HKD / SAR 6,164 573,498 Total Derivative Liabilities (free standing) $ 14,503 $ 864,947 Embedded derivative liabilities in reinsurance contracts (3) USD $ 171 $ 20,000 Total Derivative Liabilities (embedded) $ 171 $ 20,000 (1) BRL = Brazilian Real, CHF = Swiss Franc, CNH = Chinese Yuan, DKK = Danish Krone, EGP = Egyptian Pound, EUR = Euro, HKD = Hong Kong Dollar, JPY = Japanese Yen, NOK = Norwegian Krone, SAR = Saudi Arabian Riyal, SEK = Swedish Krona, USD = US Dollar. (2) The absolute notional exposure represents the Company’s derivative activity as of December 31, 2017 , 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 condensed 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 three months ended March 31, 2018 and 2017 . Realized and unrealized gains (losses) related to free standing derivatives are included in net investment income (loss) in the condensed consolidated statements of income (loss) . Realized and unrealized gains (losses) related to embedded derivatives are included in other expenses in the condensed consolidated statements of income (loss) . 2018 2017 Free standing Derivatives - Primary Underlying Risk Realized Gain (Loss) Unrealized Gain (Loss)* Realized Gain (Loss) Unrealized Gain (Loss)* Credit Credit Default Swaps - Protection Purchased $ (1,248 ) $ 559 $ (1,328 ) $ 1,620 Credit Default Swaps - Protection Sold 848 (761 ) 19 (24 ) Total Return Swaps - Long Contracts 442 805 — — Equity Price Contracts for Differences - Long Contracts 14,200 (8,578 ) 7,870 5,476 Contracts for Differences - Short Contracts 4,060 (81 ) (3,212 ) 1,124 Total Return Swaps - Long Contracts 19,191 (15,077 ) 3,801 5,002 Total Return Swaps - Short Contracts (6,856 ) 1,765 (2,729 ) (413 ) Interest Rates Interest Rate Swaps — — 1,453 365 Interest Rate Swaptions — (221 ) 1,242 (1,769 ) Sovereign Debt Futures - Short Contracts (1 ) (24 ) (1,782 ) 764 Foreign Currency Exchange Rates Foreign Currency Forward Contracts (13,816 ) 2,665 (5,874 ) 1,385 Foreign Currency Options - Purchased — (576 ) (4,869 ) 502 Foreign Currency Options - Sold — 83 2,185 (80 ) $ 16,820 $ (19,441 ) $ (3,224 ) $ 13,952 Embedded Derivatives Embedded derivatives in reinsurance contracts $ — $ 47 $ — $ (19 ) Total Derivative Liabilities (embedded) $ — $ 47 $ — $ (19 ) *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 March 31, 2018 and December 31, 2017 , 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 Condensed Consolidated Balance Sheet March 31, 2018 Gross Amount (1) Financial Instruments Cash Collateral Received Net Amount Financial assets, derivative assets and collateral received Counterparty 1 $ 157 $ 157 $ — $ — Counterparty 2 2,639 215 — 2,424 Counterparty 3 30,666 1,285 — 29,381 Counterparty 4 3,036 3,036 — — Counterparty 5 10,601 5,829 — 4,772 Counterparty 6 3,650 109 1,312 2,229 Counterparty 7 1,811 442 1,217 152 Counterparty 8 12,117 7,228 — 4,889 Counterparty 9 1,402 246 — 1,156 $ 66,079 $ 18,547 $ 2,529 $ 45,003 Gross Amounts not Offset in the Condensed Consolidated Balance Sheet March 31, 2018 Gross Amount (2) Financial Instruments Cash Collateral Pledged Net Amount Financial liabilities, derivative liabilities and collateral pledged Counterparty 1 $ 452 $ 158 $ 294 $ — Counterparty 2 215 215 — — Counterparty 3 1,285 1,285 — — Counterparty 4 4,117 3,037 1,080 — Counterparty 5 5,829 5,829 — — Counterparty 6 109 109 — — Counterparty 7 442 442 — — Counterparty 8 7,228 7,228 — — Counterparty 9 246 246 — — $ 19,923 $ 18,549 $ 1,374 $ — Securities sold under an agreement to repurchase and securities lending transactions Counterparty 3 $ 833 $ 833 $ — $ — Counterparty 4 19,067 19,067 — — $ 19,900 $ 19,900 $ — $ — (1) The gross amounts of assets presented in the condensed consolidated balance sheets presented above includes the fair value of derivative contract assets as well as gross OTC option contract assets of $12.0 million included in other investments in the condensed consolidated balance sheets. (2) The gross amounts of liabilities presented in the condensed consolidated balance sheets presented above includes the fair value of derivative contract liabilities as well as gross OTC option contract liabilities of $5.4 million included in securities sold, not yet purchased in the condensed consolidated balance sheets. Gross Amounts not Offset in the Condensed Consolidated Balance Sheet December 31, 2017 Derivative Contracts Gross Amount (1) Financial Instruments Cash Collateral Received Net Amount Financial assets, derivative assets and collateral received Counterparty 1 $ 167 $ 167 $ — $ — Counterparty 2 1,343 706 — 637 Counterparty 3 37,313 2,705 — 34,608 Counterparty 4 2,683 2,683 — — Counterparty 5 14,798 6,647 — 8,151 Counterparty 6 5,338 9 2,122 3,207 Counterparty 7 1,377 — 1,100 277 Counterparty 8 12,628 2,963 — 9,665 Counterparty 9 703 703 — — $ 76,350 $ 16,583 $ 3,222 $ 56,545 Gross Amounts not Offset in the Condensed Consolidated Balance Sheet December 31, 2017 Derivative Contracts Gross Amount (2) Financial Instruments Cash Collateral Pledged Net Amount Financial liabilities, derivative liabilities and collateral pledged Counterparty 1 $ 1,340 $ 167 $ 1,173 $ — Counterparty 2 706 706 — — Counterparty 3 2,705 2,705 — — Counterparty 4 3,812 2,683 1,129 — Counterparty 5 6,647 6,647 — — Counterparty 6 9 9 — — Counterparty 8 2,963 2,963 — — Counterparty 9 1,181 703 478 — Counterparty 15 836 — 732 104 $ 20,199 $ 16,583 $ 3,512 $ 104 Securities sold under an agreement to repurchase Counterparty 4 $ 29,618 $ 29,618 $ — $ — $ 29,618 $ 29,618 $ — $ — (1) The gross amounts of assets presented in the condensed consolidated balance sheets presented above includes the fair value of derivative contract assets as well as gross OTC option contract assets of $3.0 million included in other investments in the condensed consolidated balance sheets. (2) The gross amounts of liabilities presented in the condensed consolidated balance sheets presented above includes the fair value of derivative contract liabilities as well as gross OTC option contract liabilities of $5.7 million included in securities sold, not yet purchased in the condensed consolidated balance sheets.

Loss and loss adjustment expe35

Loss and loss adjustment expense reserves (Tables)	3 Months Ended
	Mar. 31, 2018
Insurance Loss Reserves [Abstract]
Schedule of loss and loss adjustment expense reserves	As of March 31, 2018 and December 31, 2017 , loss and loss adjustment expense reserves in the condensed consolidated balance sheets was comprised of the following: March 31, December 31, Case loss and loss adjustment expense reserves $ 115,243 $ 115,622 Incurred but not reported loss and loss adjustment expense reserves 645,786 604,260 Deferred gains on retroactive reinsurance contracts 602 688 $ 761,631 $ 720,570
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 three months ended March 31, 2018 and 2017 : 2018 2017 Gross reserves for loss and loss adjustment expenses, beginning of period $ 720,570 $ 605,129 Less: loss and loss adjustment expenses recoverable, beginning of period (1,113 ) (1 ) Net reserves for loss and loss adjustment expenses, beginning of period 719,457 605,128 Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in: Current year 75,759 85,123 Prior years 16,947 933 Amortization of deferred gains on retroactive reinsurance contracts (86 ) (161 ) Total incurred loss and loss adjustment expenses 92,620 85,895 Net loss and loss adjustment expenses paid in respect of losses occurring in: Current year (11,988 ) (5,101 ) Prior years (46,459 ) (62,046 ) Total net paid losses (58,447 ) (67,147 ) Foreign currency translation 6,669 1,858 Net reserves for loss and loss adjustment expenses, end of period 760,299 625,734 Plus: loss and loss adjustment expenses recoverable, end of period 1,332 52 Gross reserves for loss and loss adjustment expenses, end of period $ 761,631 $ 625,786

Management, performance and f36

Management, performance and founders fees (Tables)	3 Months Ended
	Mar. 31, 2018
Management, Performance and Founders Fees [Abstract]
Schedule of investment fee expenses	For the three months ended March 31, 2018 and 2017 , management and performance fees to related parties are as follows: 2018 2017 Management fees - Third Point LLC $ 9,775 $ 8,467 Performance fees - Third Point Advisors LLC (before loss carryforward) 2,380 30,858 Performance fees - Loss carryforward (2,108 ) — $ 10,047 $ 39,325

Deposit contracts (Tables)

Deposit contracts (Tables)	3 Months Ended
	Mar. 31, 2018
Deposit Contracts, Liabilities [Abstract]
Schedule of deposit contracts	The following table represents activity for the deposit contracts for the three months ended March 31, 2018 and year ended December 31, 2017 : March 31, December 31, Balance, beginning of period $ 129,133 $ 104,905 Consideration received 1,114 22,658 Consideration receivable — 2,080 Net investment expense allocation 1,261 2,800 Payments (1,729 ) (3,545 ) Foreign currency translation 178 235 Balance, end of period $ 129,957 $ 129,133

Senior notes payable and lett38

Senior notes payable and letter of credit facilities (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of credit facilities	As of March 31, 2018 , the Company had entered into the following letter of credit facilities: Facility Utilized Collateral Citibank $ 300,000 $ 161,024 $ 161,024 Lloyds Bank 125,000 75,970 75,970 $ 425,000 $ 236,994 $ 236,994

Net investment income (Tables)

Net investment income (Tables)	3 Months Ended
	Mar. 31, 2018
Net Investment Income [Abstract]
Schedule of net investment income	Net investment income (loss) for the three months ended March 31, 2018 and 2017 consisted of the following: 2018 2017 Net investment income (loss) by type Net realized gains on investments and investment derivatives $ 65,770 $ 61,074 Net unrealized gains (losses) on investments and investment derivatives (62,987 ) 95,674 Net losses on foreign currencies (787 ) (552 ) Dividend and interest income 13,224 17,267 Dividends paid on securities sold, not yet purchased (1,892 ) (525 ) Other expenses (5,489 ) (5,103 ) Net investment income before management and performance fees to related parties 7,839 167,835 Management and performance fees to related parties (10,047 ) (39,325 ) Net investment income (loss) $ (2,208 ) $ 128,510 The following table provides an additional breakdown of our net investment income (loss) by asset and liability type for the three months ended March 31, 2018 and 2017 : 2018 2017 Net investment income (loss) by asset type Equity securities $ (18,325 ) $ 150,269 Private common equity securities (442 ) (27 ) Private preferred equity securities (2,040 ) 262 Total equities (20,807 ) 150,504 Asset-backed securities 12,449 2,833 Bank debt 2,521 4,142 Corporate bonds (2,676 ) 8,915 Municipal bonds 3,778 — U.S. Treasury securities (637 ) 1,160 Sovereign debt 4,131 6,452 Other debt securities 438 — Total debt securities 20,004 23,502 Options (1,057 ) (7,465 ) Rights and warrants (16 ) 44 Real estate 87 — Trade claims (3 ) 163 Total other investments (989 ) (7,258 ) Net investment income (loss) in funds valued at NAV (908 ) 3,623 Total net investment income (loss) from invested assets (2,700 ) 170,371 Net investment income (loss) by liability type Equity securities 12,918 (5,998 ) Corporate bonds (35 ) (1,693 ) Options 3,733 (1,693 ) Total net investment income (loss) from securities sold, not yet purchased 16,616 (9,384 ) Other investment income (losses) and other expenses not presented above Other investment expenses (352 ) (1,914 ) Net investment income (loss) on derivative contracts (2,621 ) 10,728 Net investment loss on cash, including foreign exchange loss (3,860 ) (2,936 ) Net investment losses on securities purchased under an agreement to sell and securities sold under and agreement to repurchase (209 ) (20 ) Withholding taxes reclassified to income tax expense 965 990 Total other investment income (losses) and other expenses (6,077 ) 6,848 Net investment income before management and performance fees to related parties 7,839 167,835 Management and performance fees to related parties (10,047 ) (39,325 ) Net investment income (loss) $ (2,208 ) $ 128,510

Other expenses (Tables)

Other expenses (Tables)	3 Months Ended
	Mar. 31, 2018
Other Income and Expenses [Abstract]
Schedule of other expenses	Other expenses for the three months ended March 31, 2018 and 2017 consisted of the following: 2018 2017 Investment expense on deposit liabilities $ 1,261 $ 409 Investment expense and change in fair value of embedded derivatives in reinsurance contracts 2,734 2,492 $ 3,995 $ 2,901

Income taxes (Tables)

Income taxes (Tables)	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of income tax expenses	For the three months ended March 31, 2018 and 2017 , the Company recorded income tax expense, as follows: 2018 2017 Income tax expense (benefit) related to U.S. and U.K. subsidiaries $ (849 ) $ 4,182 Change in uncertain tax positions 12 126 Withholding taxes on certain investment transactions 965 990 $ 128 $ 5,298

Share capital (Tables)

Share capital (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Schedule of Common Stock and Treasury Stock Outstanding	The following tables present a summary of the common shares issued and outstanding and shares repurchased held as treasury shares as of and for the three months ended March 31, 2018 and 2017 : Common shares 2018 2017 Common shares issued, beginning of period 107,227,347 106,501,299 Options exercised — 50,000 Restricted shares granted, net of forfeitures 2,516 — Performance restricted shares granted, net of forfeitures and shares withheld 236,057 630,784 Retirement of treasury shares and shares repurchased (1) (5,583,228 ) — Warrants exercised, net (2) 361,556 — Common shares issued, end of period 102,244,248 107,182,083 Treasury shares, end of period — (2,177,639 ) Common shares outstanding, end of period 102,244,248 105,004,444

Share-based compensation (Table

Share-based compensation (Tables)	3 Months Ended
	Mar. 31, 2018
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 three months ended March 31, 2018 and 2017 : 2018 2017 Management and director options $ 95 $ 347 Restricted shares with service condition 140 124 Restricted shares with service and performance condition 1,010 1,359 $ 1,245 $ 1,830
Schedule of management and director options activity	The management and director options activity for the three months ended March 31, 2018 and year ended December 31, 2017 were as follows: Number of options Weighted average exercise price Balance as of January 1, 2017 9,596,993 $ 13.64 Forfeited (558,138 ) 18.00 Exercised (150,802 ) 10.00 Balance as of January 1, 2018 8,888,053 13.43 Forfeited — — Exercised — — Balance as of March 31, 2018 8,888,053 $ 13.43
Schedule of management and director options outstanding	The following table summarizes information about the Company’s management and director share options outstanding as of March 31, 2018 : 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 5,123,532 $ 10.04 3.8 years 5,081,671 $ 10.03 $15.05 - $16.89 1,917,145 15.93 4.0 years 1,861,332 15.94 $20.00 - $25.05 1,847,376 20.26 4.0 years 1,805,518 20.22 8,888,053 $ 13.43 3.9 years 8,748,521 $ 13.39
Schedule of restricted shares with service condition activity	Restricted share award activity for the three months ended March 31, 2018 and year ended December 31, 2017 was as follows: Number of non- vested restricted shares Weighted average grant date fair value Balance as of January 1, 2017 301,043 $ 11.12 Granted 36,418 12.15 Forfeited (71,429 ) 14.00 Vested (247,823 ) 10.36 Balance as of January 1, 2018 18,209 12.15 Granted 2,516 15.30 Vested (9,561 ) 12.30 Balance as of March 31, 2018 11,164 $ 12.73
Schedule of restricted shares with performance condition activity	Restricted share award activity for the restricted shares with a service and performance condition for the three months ended March 31, 2018 and year ended December 31, 2017 were as follows: Number of non- vested restricted shares Number of non- vested restricted shares probable of vesting Weighted average grant date fair value of shares probable of vesting Balance as of January 1, 2017 1,381,740 577,486 $ 12.91 Granted 935,825 623,882 12.66 Forfeited (325,568 ) (45,617 ) 12.57 Vested (136,618 ) (136,618 ) 14.60 Change in estimated restricted shares considered probable of vesting n/a (131,930 ) 12.17 Balance as of January 1, 2018 1,855,379 887,203 12.60 Granted 530,077 353,380 14.05 Forfeited (288,700 ) — 14.00 Vested (115,757 ) (115,757 ) 14.00 Change in estimated restricted shares considered probable of vesting n/a 19,197 11.70 Balance as of March 31, 2018 1,980,999 1,144,023 $ 12.64

Non-controlling interests Nonco

Non-controlling interests Noncontrolling interests (Tables)	3 Months Ended
	Mar. 31, 2018
Noncontrolling Interest [Abstract]
Minority Interest	The following table is a reconciliation of the beginning and ending carrying amounts of redeemable noncontrolling interests in related party, noncontrolling interests in related party and total noncontrolling interests in related party for the three months ended March 31, 2018 and 2017 : Redeemable noncontrolling interests in related party Noncontrolling interests in related party Total noncontrolling interests in related party March 31, 2018 March 31, 2017 March 31, 2018 March 31, 2017 March 31, 2018 March 31, 2017 Balance, beginning of period $ 108,219 $ — $ 5,407 $ 35,674 $ 113,626 $ 35,674 Changes in capital account allocation (101,418 ) — (318 ) (18,825 ) (101,736 ) (18,825 ) Balance, end of period $ 6,801 $ — $ 5,089 $ 16,849 $ 11,890 $ 16,849 In addition, the following table is a reconciliation of beginning and ending carrying amount of total noncontrolling interests in related party resulting from the consolidation of the Company’s joint venture in Third Point Re BDA and Third Point Re USA: Third Point Re BDA Third Point Re USA Total March 31, 2018 March 31, 2017 March 31, 2018 March 31, 2017 March 31, 2018 March 31, 2017 Balance, beginning of period $ 97,619 $ 30,358 $ 16,007 $ 5,316 $ 113,626 $ 35,674 Net income (loss) attributable to total noncontrolling interests in related party (7 ) 932 17 242 10 1,174 Contributions (1) 240 — 14 — 254 — Redemptions (89,000 ) (17,999 ) (13,000 ) (2,000 ) (102,000 ) (19,999 ) Balance, end of period $ 8,852 $ 13,291 $ 3,038 $ 3,558 $ 11,890 $ 16,849 (1) Contributions include performance fees earned during the period. See Note 10 for additional information.

Earnings (loss)per share (Table

Earnings (loss)per share (Tables)	3 Months Ended
	Mar. 31, 2018
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 available to Third Point Re common shareholders for the three months ended March 31, 2018 and 2017 : 2018 2017 Weighted-average number of common shares outstanding: ($ in thousands, except share and per share amounts) Basic number of common shares outstanding 101,195,747 104,013,871 Dilutive effect of options — 781,568 Dilutive effect of warrants — 722,816 Dilutive effect of restricted shares with service and performance condition — 183,344 Diluted number of common shares outstanding 101,195,747 105,701,599 Basic earnings (loss) per common share: Net income (loss) available to Third Point Re common shareholders $ (26,001 ) $ 104,186 Net income allocated to Third Point Re participating common shareholders — (139 ) Net income (loss) allocated to Third Point Re common shareholders $ (26,001 ) $ 104,047 Basic earnings (loss) per common share $ (0.26 ) $ 1.00 Diluted earnings (loss) per common share: Net income (loss) available to Third Point Re common shareholders $ (26,001 ) $ 104,186 Net income allocated to Third Point Re participating common shareholders — (136 ) Net income (loss) allocated to Third Point Re common shareholders $ (26,001 ) $ 104,050 Diluted earnings (loss) per common share $ (0.26 ) $ 0.98

Financial instruments with of46

Financial instruments with off-balance sheet risk or concentrations of credit risk (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 and December 31, 2017 : March 31, 2018 Maximum Payout/ Notional Amount Fair Value of Written Credit Derivatives (2) Credit Spreads on underlying (basis points) 0-5 years 5 years or Total Written (1) Asset Liability Net Asset/(Liability) Single name (0 - 250) $ 2,263 $ 2,440 $ 4,703 $ — $ 2,448 $ (2,448 ) December 31, 2017 Maximum Payout/ Notional Amount Fair Value of Written Credit Derivatives (2) Credit Spreads on underlying (basis points) 0-5 years 5 years or Total Written (1) Asset Liability Net Asset/(Liability) Single name (0 - 250) $ — $ 2,351 $ 2,351 $ — $ 2,085 $ (2,085 ) (1) As of March 31, 2018 and December 31, 2017 , 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.

Segment reporting (Tables)

Segment reporting (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Schedule of operating segments	The following is a summary of the Company’s operating segment results for the three months ended March 31, 2018 and 2017 : Three months ended March 31, 2018 Property and Casualty Reinsurance Corporate Total Revenues Gross premiums written $ 378,360 $ — $ 378,360 Gross premiums ceded (14,646 ) — (14,646 ) Net premiums written 363,714 — 363,714 Change in net unearned premium reserves (221,228 ) — (221,228 ) Net premiums earned 142,486 — 142,486 Expenses Loss and loss adjustment expenses incurred, net 92,620 — 92,620 Acquisition costs, net 51,405 — 51,405 General and administrative expenses 4,824 4,657 9,481 Total expenses 148,849 4,657 153,506 Net underwriting loss (6,363 ) n/a n/a Net investment income (loss) 2,599 (4,807 ) (2,208 ) Other expenses (3,995 ) — (3,995 ) Interest expense — (2,029 ) (2,029 ) Foreign exchange losses (1) (6,611 ) — (6,611 ) Income tax expense — (128 ) (128 ) Net income attributable to noncontrolling interests in related party — (10 ) (10 ) Segment loss $ (14,370 ) $ (11,631 ) Net loss attributable to Third Point Re common shareholders $ (26,001 ) Property and Casualty Reinsurance - Underwriting Ratios (2): Loss ratio 65.0 % Acquisition cost ratio 36.1 % Composite ratio 101.1 % General and administrative expense ratio 3.4 % Combined ratio 104.5 % (1) Foreign exchange losses primarily result from the revaluation of foreign currency loss and loss adjustment expense reserves denominated in non-U.S. dollar. Non-U.S. dollar reinsurance assets, or balances held in trust accounts securing reinsurance liabilities generally offset reinsurance liabilities in the same non-U.S. dollar currencies resulting in minimal net exposure. As a result, the foreign exchange losses on loss and loss adjustment expense reserves in the period are offset by corresponding foreign exchange gains included in net investment income resulting from the revaluation of foreign currency reinsurance collateral held in trust accounts, which is presented as part of the Property and Casualty segment. For the three months ended March 31, 2018, the Company modified the presentation of its operating segment to allocate foreign exchange losses to the Property and Casualty Reinsurance Segment to better align with the reinsurance activities that result in these foreign exchange gains and losses. These amounts had previously been presented as part of the Company’s corporate function. Prior period segment results have been adjusted to conform to this presentation. (2) Underwriting ratios are calculated by dividing the related expense by net premiums earned. Three months ended March 31, 2017 Property and Casualty Reinsurance Corporate Total Revenues Gross premiums written $ 146,354 $ — $ 146,354 Gross premiums ceded (1,125 ) — (1,125 ) Net premiums written 145,229 — 145,229 Change in net unearned premium reserves (7,220 ) — (7,220 ) Net premiums earned 138,009 — 138,009 Expenses Loss and loss adjustment expenses incurred, net 85,895 — 85,895 Acquisition costs, net 54,452 — 54,452 General and administrative expenses 6,312 4,260 10,572 Total expenses 146,659 4,260 150,919 Net underwriting loss (8,650 ) n/a n/a Net investment income 36,120 92,390 128,510 Other expenses (2,901 ) — (2,901 ) Interest expense — (2,026 ) (2,026 ) Foreign exchange losses (1) (15 ) — (15 ) Income tax expense — (5,298 ) (5,298 ) Net income attributable to noncontrolling interests in related party — (1,174 ) (1,174 ) Segment income $ 24,554 $ 79,632 Net income available to Third Point Re common shareholders $ 104,186 Property and Casualty Reinsurance - Underwriting Ratios (2): Loss ratio 62.2 % Acquisition cost ratio 39.5 % Composite ratio 101.7 % General and administrative expense ratio 4.6 % Combined ratio 106.3 %
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 three months ended March 31, 2018 and 2017 as a percentage of total gross premiums written in the relevant period: 2018 2017 Largest contract 24.2 % 36.9 % Second largest contract n/a 12.9 % Third largest contract n/a 11.5 % Total for contracts contributing greater than 10% each 24.2 % 61.3 % Total for contracts contributing less than 10% each 75.8 % 38.7 % 100.0 % 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 three months ended March 31, 2018 and 2017 : 2018 2017 Property $ 369 0.1 % $ 12 — % Casualty 153,220 40.5 % 87,205 59.6 % Specialty 224,771 59.4 % 59,137 40.4 % Total prospective reinsurance contracts 378,360 100.0 % 146,354 100.0 % Retroactive reinsurance contracts — — % — — % $ 378,360 100.0 % $ 146,354 100.0 %
Schedule of breakdown of the Company’s gross premiums written from brokers	The following table sets forth the Company’s premiums written by source that individually contributed more than 10% of total gross premiums written for the three months ended March 31, 2018 and 2017 : 2018 2017 Largest broker $ 169,261 44.7 % $ 67,689 46.3 % Second largest broker 139,555 36.9 % 24,149 16.5 % Third largest broker n/a n/a 16,029 11.0 % Other 69,544 18.4 % 38,487 26.2 % $ 378,360 100.0 % $ 146,354 100.0 %
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 three months ended March 31, 2018 and 2017 : 2018 2017 United States $ 232,871 61.6 % $ 42,430 29.0 % Bermuda 70,353 18.6 % 54,075 36.9 % United Kingdom 51,985 13.7 % 49,849 34.1 % Other 23,151 6.1 % — — % $ 378,360 100.0 % $ 146,354 100.0 %

Supplemental Guarantor Inform48

Supplemental Guarantor Information (Tables)	3 Months Ended
	Mar. 31, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET As of March 31, 2018 Third Point Re TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Assets Equity securities $ — $ — $ 2,133,170 $ — $ 2,133,170 Debt securities — — 635,322 — 635,322 Other investments — — 43,109 — 43,109 Total investments in securities — — 2,811,601 — 2,811,601 Cash and cash equivalents 1 198 6,211 — 6,410 Restricted cash and cash equivalents — — 543,173 — 543,173 Investment in subsidiaries 1,634,213 272,856 165,082 (2,072,151 ) — Due from brokers — — 318,703 — 318,703 Derivative assets, at fair value — — 54,114 — 54,114 Interest and dividends receivable — — 4,167 — 4,167 Reinsurance balances receivable — — 684,897 — 684,897 Deferred acquisition costs, net — — 308,903 — 308,903 Unearned premiums ceded — — 15,061 — 15,061 Loss and loss adjustment expenses recoverable — — 1,332 — 1,332 Amounts due from (to) affiliates (26,268 ) (3,623 ) 29,891 — — Other assets 520 — 7,352 — 7,872 Total assets $ 1,608,466 $ 269,431 $ 4,950,487 $ (2,072,151 ) $ 4,756,233 Liabilities Accounts payable and accrued expenses (1) $ 1,044 $ (9,240 ) $ 19,469 $ — $ 11,273 Reinsurance balances payable — — 50,799 — 50,799 Deposit liabilities — — 129,957 — 129,957 Unearned premium reserves — — 884,758 — 884,758 Loss and loss adjustment expense reserves — — 761,631 — 761,631 Securities sold, not yet purchased, at fair value — — 355,447 — 355,447 Securities sold under an agreement to repurchase — — 19,067 — 19,067 Due to brokers — — 792,633 — 792,633 Derivative liabilities, at fair value — — 14,510 — 14,510 Performance fee payable to related party — — 20 — 20 Interest and dividends payable — 1,015 2,034 — 3,049 Senior notes payable, net of deferred costs — 113,777 — — 113,777 Total liabilities 1,044 105,552 3,030,325 — 3,136,921 Redeemable noncontrolling interests in related party — — 6,801 — 6,801 Shareholders’ equity Common shares 10,224 — 1,239 (1,239 ) 10,224 Additional paid-in capital 1,029,179 165,290 1,533,076 (1,698,366 ) 1,029,179 Retained earnings (deficit) 568,019 (1,411 ) 373,957 (372,546 ) 568,019 Shareholders’ equity attributable to Third Point Re common shareholders 1,607,422 163,879 1,908,272 (2,072,151 ) 1,607,422 Noncontrolling interests in related party — — 5,089 — 5,089 Total shareholders’ equity 1,607,422 163,879 1,913,361 (2,072,151 ) 1,612,511 Total liabilities, noncontrolling interests and shareholders’ equity $ 1,608,466 $ 269,431 $ 4,950,487 $ (2,072,151 ) $ 4,756,233 (1) Negative balance of $9.2 million represents net deferred tax assets that are offset by net deferred tax liabilities in Third Point Re USA of $9.6 million , resulting in a net liability position as of March 31, 2018 . CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2017 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Assets Equity securities $ — $ — $ 2,283,050 $ — $ 2,283,050 Debt securities — — 675,158 — 675,158 Other investments — — 37,731 — 37,731 Total investments in securities — — 2,995,939 — 2,995,939 Cash and cash equivalents 9 199 7,989 — 8,197 Restricted cash and cash equivalents — — 541,136 — 541,136 Investment in subsidiaries 1,657,467 274,272 164,909 (2,096,648 ) — Due from brokers — — 305,093 — 305,093 Derivative assets, at fair value — — 73,372 — 73,372 Interest and dividends receivable — — 3,774 — 3,774 Reinsurance balances receivable — — 476,008 — 476,008 Deferred acquisition costs, net — — 258,793 — 258,793 Unearned premiums ceded — — 1,049 — 1,049 Loss and loss adjustment expenses recoverable — — 1,113 — 1,113 Amounts due from (to) affiliates (1,288 ) 412 876 — — Other assets 664 — 6,656 — 7,320 Total assets $ 1,656,852 $ 274,883 $ 4,836,707 $ (2,096,648 ) $ 4,671,794 Liabilities Accounts payable and accrued expenses $ 763 $ (8,805 ) $ 42,674 $ — $ 34,632 Reinsurance balances payable — — 41,614 — 41,614 Deposit liabilities — — 129,133 — 129,133 Unearned premium reserves — — 649,518 — 649,518 Loss and loss adjustment expense reserves — — 720,570 — 720,570 Securities sold, not yet purchased, at fair value — — 394,278 — 394,278 Securities sold under an agreement to repurchase — — 29,618 — 29,618 Due to brokers — — 770,205 — 770,205 Derivative liabilities, at fair value — — 14,503 — 14,503 Interest and dividends payable — 3,055 1,220 — 4,275 Senior notes payable, net of deferred costs — 113,733 — — 113,733 Total liabilities 763 107,983 2,793,333 — 2,902,079 Redeemable noncontrolling interests in related party — — 108,219 — 108,219 Shareholders’ equity Common shares 10,723 — 1,250 (1,250 ) 10,723 Treasury shares (48,253 ) — — — (48,253 ) Additional paid-in capital 1,099,599 165,097 1,531,770 (1,696,867 ) 1,099,599 Retained earnings (deficit) 594,020 1,803 396,728 (398,531 ) 594,020 Shareholders' equity attributable to Third Point Re common shareholders 1,656,089 166,900 1,929,748 (2,096,648 ) 1,656,089 Noncontrolling interests in related party — — 5,407 — 5,407 Total shareholders' equity 1,656,089 166,900 1,935,155 (2,096,648 ) 1,661,496 Total liabilities, noncontrolling interests and shareholders’ equity $ 1,656,852 $ 274,883 $ 4,836,707 $ (2,096,648 ) $ 4,671,794
Condensed Consolidating Statement of Income	CONDENSED CONSOLIDATING STATEMENTS OF LOSS For the three months ended March 31, 2018 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 378,360 $ — $ 378,360 Gross premiums ceded — — (14,646 ) — (14,646 ) Net premiums written — — 363,714 — 363,714 Change in net unearned premium reserves — — (221,228 ) — (221,228 ) Net premiums earned — — 142,486 — 142,486 Net investment loss — — (2,208 ) — (2,208 ) Equity in losses of subsidiaries (24,358 ) (1,609 ) (18 ) 25,985 — Total revenues (24,358 ) (1,609 ) 140,260 25,985 140,278 Expenses Loss and loss adjustment expenses incurred, net — — 92,620 — 92,620 Acquisition costs, net — — 51,405 — 51,405 General and administrative expenses 1,643 3 7,835 — 9,481 Other expenses — — 3,995 — 3,995 Interest expense — 2,029 — — 2,029 Foreign exchange losses — — 6,611 — 6,611 Total expenses 1,643 2,032 162,466 — 166,141 Loss before income tax benefit (26,001 ) (3,641 ) (22,206 ) 25,985 (25,863 ) Income tax (expense) benefit — 427 (555 ) — (128 ) Net loss (26,001 ) (3,214 ) (22,761 ) 25,985 (25,991 ) Net income attributable to noncontrolling interests in related party — — (10 ) — (10 ) Net loss attributable to Third Point Re common shareholders $ (26,001 ) $ (3,214 ) $ (22,771 ) $ 25,985 $ (26,001 ) CONDENSED CONSOLIDATING STATEMENTS OF INCOME For the three months ended March 31, 2017 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 146,354 $ — $ 146,354 Gross premiums ceded — — (1,125 ) — (1,125 ) Net premiums written — — 145,229 — 145,229 Change in net unearned premium reserves — — (7,220 ) — (7,220 ) Net premiums earned — — 138,009 — 138,009 Net investment income — — 128,510 — 128,510 Equity in earnings of subsidiaries 105,370 8,989 5 (114,364 ) — Total revenues 105,370 8,989 266,524 (114,364 ) 266,519 Expenses Loss and loss adjustment expenses incurred, net — — 85,895 — 85,895 Acquisition costs, net — — 54,452 — 54,452 General and administrative expenses 1,184 8 9,380 — 10,572 Other expenses — — 2,901 — 2,901 Interest expense — 2,026 — — 2,026 Foreign exchange losses — — 15 — 15 Total expenses 1,184 2,034 152,643 — 155,861 Income before income tax expense 104,186 6,955 113,881 (114,364 ) 110,658 Income tax (expense) benefit — 712 (6,010 ) — (5,298 ) Net income 104,186 7,667 107,871 (114,364 ) 105,360 Net income attributable to noncontrolling interests in related party — — (1,174 ) — (1,174 ) Net income available to Third Point Re common shareholders $ 104,186 $ 7,667 $ 106,697 $ (114,364 ) $ 104,186
Condensed Consolidating Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2018 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Net loss $ (26,001 ) $ (3,214 ) $ (22,761 ) $ 25,985 $ (25,991 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Equity in (earnings) losses of subsidiaries 24,358 1,609 18 (25,985 ) — Share compensation expense 141 — 1,104 — 1,245 Net interest expense on deposit liabilities — — 1,261 — 1,261 Net unrealized loss on investments and derivatives — — 62,940 — 62,940 Net realized gain on investments and derivatives — — (65,770 ) — (65,770 ) Net foreign exchange losses — — 6,611 — 6,611 Amortization of premium and accretion of discount, net — 44 2,578 — 2,622 Changes in assets and liabilities: Reinsurance balances receivable — — (208,414 ) — (208,414 ) Deferred acquisition costs, net — — (50,110 ) — (50,110 ) Unearned premiums ceded — — (14,012 ) — (14,012 ) Loss and loss adjustment expenses recoverable — — (219 ) — (219 ) Other assets 144 — (703 ) — (559 ) Interest and dividends receivable, net — (2,040 ) 421 — (1,619 ) Unearned premium reserves — — 235,240 — 235,240 Loss and loss adjustment expense reserves — — 34,392 — 34,392 Accounts payable and accrued expenses 281 (435 ) (23,228 ) — (23,382 ) Reinsurance balances payable — — 9,025 — 9,025 Performance fees payable to related party — — 20 — 20 Amounts due from (to) affiliates 24,980 4,035 (29,015 ) — — Net cash provided by (used in) operating activities 23,903 (1 ) (60,622 ) — (36,720 ) Investing activities Purchases of investments — — (1,032,890 ) — (1,032,890 ) Proceeds from sales of investments — — 1,221,157 — 1,221,157 Purchases of investments to cover short sales — — (300,467 ) — (300,467 ) Proceeds from short sales of investments — — 277,174 — 277,174 Change in due to/from brokers, net — — 8,818 — 8,818 Increase in securities sold under an agreement to repurchase — — (10,551 ) — (10,551 ) Net cash provided by investing activities — — 163,241 — 163,241 Financing activities Taxes paid on withholding shares (74 ) — — — (74 ) Purchases of Third Point Re common shares under share repurchase program (23,837 ) — — — (23,837 ) Decrease in deposit liabilities, net — — (614 ) — (614 ) Change in total noncontrolling interests in related party, net — — (101,746 ) — (101,746 ) Net cash provided by (used in) financing activities (23,911 ) — (102,360 ) — (126,271 ) Net increase (decrease) in cash, cash equivalents and restricted cash (8 ) (1 ) 259 — 250 Cash, cash equivalents and restricted cash at beginning of period 9 199 549,125 — 549,333 Cash, cash equivalents and restricted cash at end of period $ 1 $ 198 $ 549,384 $ — $ 549,583 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2017 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Net income $ 104,186 $ 7,667 $ 107,871 $ (114,364 ) $ 105,360 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in (earnings) losses of subsidiaries (105,370 ) (8,989 ) (5 ) 114,364 — Share compensation expense — — 1,830 — 1,830 Net interest income on deposit liabilities — — 409 — 409 Net unrealized gain on investments and derivatives — — (95,703 ) — (95,703 ) Net realized gain on investments and derivatives — — (61,028 ) — (61,028 ) Net foreign exchange losses — — 15 — 15 Amortization of premium and accretion of discount, net — 44 (709 ) — (665 ) Changes in assets and liabilities: Reinsurance balances receivable — — (37,281 ) — (37,281 ) Deferred acquisition costs, net — — 864 — 864 Unearned premiums ceded — — (946 ) — (946 ) Loss and loss adjustment expenses recoverable — — (51 ) — (51 ) Other assets 144 (713 ) 4,641 — 4,072 Interest and dividends receivable, net — (2,042 ) (538 ) — (2,580 ) Unearned premium reserves — — 8,167 — 8,167 Loss and loss adjustment expense reserves — — 18,798 — 18,798 Accounts payable and accrued expenses 80 — 1,099 — 1,179 Reinsurance balances payable — — 8,051 — 8,051 Performance fees payable to related party — — 30,857 — 30,857 Amounts due from (to) affiliates 17,777 (4,266 ) (13,511 ) — — Net cash provided by (used in) operating activities 16,817 (8,299 ) (27,170 ) — (18,652 ) Investing activities Purchases of investments — — (613,020 ) — (613,020 ) Proceeds from sales of investments — — 940,797 — 940,797 Purchases of investments to cover short sales — — (120,014 ) — (120,014 ) Proceeds from short sales of investments — — 232,856 — 232,856 Change in due to/from brokers, net — — (362,792 ) — (362,792 ) Increase in securities sold under an agreement to repurchase — — 16,524 — 16,524 Net cash provided by investing activities — — 94,351 — 94,351 Financing activities Proceeds from issuance of Third Point Re common shares, net of costs 498 — — — 498 Purchases of Third Point Re common shares under share repurchase program (18,884 ) — — — (18,884 ) Increase in deposit liabilities, net — — 437 — 437 Change in total noncontrolling interests in related party, net — — (19,999 ) — (19,999 ) Dividend received by (paid to) parent — 8,300 (8,300 ) — — Net cash provided by (used in) financing activities (18,386 ) 8,300 (27,862 ) — (37,948 ) Net increase (decrease) in cash, cash equivalents and restricted cash (1,569 ) 1 39,319 — 37,751 Cash, cash equivalents and restricted cash at beginning of period 1,629 79 307,183 — 308,891 Cash, cash equivalents and restricted cash at end of period $ 60 $ 80 $ 346,502 $ — $ 346,642

Significant accounting polici49

Significant accounting policies Recent accounting pronouncements (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Accounting Standards Update 2016-18 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Prior Period Reclassification Adjustment	$ 35.9

Restricted cash and cash equi50

Restricted cash and cash equivalents and restricted investments (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 6,410	$ 8,197
Restricted cash and cash equivalents	543,173	541,136
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	549,583	549,333	$ 346,642	$ 308,891
Restricted Investments	323,928	326,429
Total restricted cash and cash equivalents and investments	873,511	875,762
Restricted cash securing letter of credit facilities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash and cash equivalents	236,994	250,487
Restricted cash securing other reinsurance contracts
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash and cash equivalents	$ 306,179	$ 290,649

Investments - Schedule of the s

Investments - Schedule of the separate account managed by TP LLC (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets
Total assets	$ 3,732,005	$ 3,918,480
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	1,199,217	1,328,585
Total net investments managed by Third Point LLC	2,532,788	2,589,895
Total investments in securities
Assets
Total assets	2,811,372	2,995,097
Cash and cash equivalents
Assets
Total assets	476	8
Restricted cash and cash equivalents
Assets
Total assets	543,173	541,136
Due from brokers
Assets
Total assets	318,703	305,093
Derivative assets, at fair value
Assets
Total assets	54,114	73,372
Interest and dividends receivable
Assets
Total assets	4,167	3,774
Accounts payable and accrued expenses
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	3,616	5,137
Net investment gains on securities sold, not yet purchased
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	355,447	394,278
Net investment gains (losses) on securities sold under an agreement to repurchase
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	19,067	29,618
Due to brokers
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	792,633	770,205
Derivative liabilities, at fair value
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	14,510	14,503
Performance fee payable to related party
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	20	0
Interest and dividends payable
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	2,034	1,218
Total noncontrolling interests in related party (1)
Liabilities and shareholders’ equity
Total liabilities and shareholders' equity	$ 11,890	$ 113,626

Investments - Schedule of the l

Investments - Schedule of the largest concentration of asset-backed securities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Asset-backed securities	$ 189,321	$ 225,499
Portfolio Concentration Risk | Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Asset-backed securities	$ 189,321	$ 225,499
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	$ 133,481	$ 160,354
Concentration risk, percentage	70.50%	71.10%
Portfolio Concentration Risk | Asset-backed securities | Market place loans
Schedule of Available-for-sale Securities [Line Items]
Asset-backed securities	$ 43,164	$ 52,584
Concentration risk, percentage	22.80%	23.30%
Portfolio Concentration Risk | Asset-backed securities | Other debt securities
Schedule of Available-for-sale Securities [Line Items]
Asset-backed securities	$ 12,676	$ 12,561
Concentration risk, percentage	6.70%	5.60%

Investments - Schedule of inves

Investments - Schedule of investments, categorized by the level of the fair value hierarchy (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Assets
Equity securities	$ 2,073,587		$ 2,221,130
Private common equity securities	4,352		4,794
Private preferred equity securities	55,231		57,126
Total equities	2,133,170		2,283,050
Asset-backed securities	189,321		225,499
Bank debt	19,794		14,550
Corporate bonds	65,718		77,086
Municipal bonds	27,452
U.S. Treasury securities	240,549		249,994
Sovereign debt	87,485		102,569
Other debt securities	5,003		5,460
Total debt securities	635,322		675,158
Options	15,113		4,951
Rights and warrants	962		603
Real estate	6,937		6,831
Trade claims	3,423		7,496
Total other investments	26,435		19,881
Derivative assets, at fair value	54,114		73,372
Total assets	2,849,041		3,051,461
Investments in funds valued at NAV	16,674		17,850
Assets Including Alternative Investments, Fair Value Disclosure	2,865,715		3,069,311
Liabilities
Equity securities	330,043		364,215
Corporate bonds	16,949		21,699
Options	8,386		8,364
Financial Instruments Sold, Not yet Purchased, Trade Claims	69
Total securities sold, not yet purchased	355,447		394,278
Derivative liabilities, at fair value	14,510		14,503
Derivative liabilities (embedded)	124		171
Total liabilities	370,081		408,952
Quoted prices in active markets (Level 1)
Assets
Equity securities	2,064,380		2,200,379
Private common equity securities	0		0
Private preferred equity securities	0		0
Total equities	2,064,380		2,200,379
Asset-backed securities	0		0
Bank debt	0		0
Corporate bonds	0		0
Municipal bonds	0
U.S. Treasury securities	0		0
Sovereign debt	0		0
Other debt securities	0		0
Total debt securities	0		0
Options	3,148		1,973
Rights and warrants	0		0
Real estate	0		0
Trade claims	0		0
Total other investments	3,148		1,973
Derivative assets, at fair value	0		0
Total assets	2,067,528		2,202,352
Liabilities
Equity securities	330,043		364,215
Corporate bonds	0		0
Options	2,973		2,668
Financial Instruments Sold, Not yet Purchased, Trade Claims	0
Total securities sold, not yet purchased	333,016		366,883
Derivative liabilities, at fair value	0		0
Derivative liabilities (embedded)	0		0
Total liabilities	333,016		366,883
Significant other observable inputs (Level 2)
Assets
Equity securities	9,207		20,751
Private common equity securities	0		0
Private preferred equity securities	0		0
Total equities	9,207		20,751
Asset-backed securities	162,065		198,191
Bank debt	19,794		14,550
Corporate bonds	55,637		67,218
Municipal bonds	27,452
U.S. Treasury securities	240,549		249,994
Sovereign debt	87,485		102,569
Other debt securities	5,003		4,747
Total debt securities	597,985		637,269
Options	11,965		2,978
Rights and warrants	143		168
Real estate	0		0
Trade claims	3,423		7,496
Total other investments	15,531		10,642
Derivative assets, at fair value	54,114		73,372
Total assets	676,837		742,034
Liabilities
Equity securities	0		0
Corporate bonds	16,949		21,699
Options	5,413		5,696
Financial Instruments Sold, Not yet Purchased, Trade Claims	69
Total securities sold, not yet purchased	22,431		27,395
Derivative liabilities, at fair value	12,514		12,418
Derivative liabilities (embedded)	0		0
Total liabilities	34,945		39,813
Significant unobservable inputs (Level 3)
Assets
Equity securities	0		0
Private common equity securities	4,352		4,794
Private preferred equity securities	55,231		57,126
Total equities	59,583		61,920
Asset-backed securities	27,256		27,308
Bank debt	0		0
Corporate bonds	10,081		9,868
Municipal bonds	0
U.S. Treasury securities	0		0
Sovereign debt	0		0
Other debt securities	0		713
Total debt securities	37,337		37,889
Options	0		0
Rights and warrants	819		435
Real estate	6,937		6,831
Trade claims	0		0
Total other investments	7,756		7,266
Derivative assets, at fair value	0		0
Total assets	104,676		107,075
Liabilities
Equity securities	0		0
Corporate bonds	0		0
Options	0		0
Financial Instruments Sold, Not yet Purchased, Trade Claims	0
Total securities sold, not yet purchased	0		0
Derivative liabilities, at fair value	1,996		2,085
Derivative liabilities (embedded)	124		171
Total liabilities	2,120		$ 2,256
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities, Change in Unrealized Holding Gain (Loss)	(23,900)	$ 105,000
Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities, Change in Unrealized Holding Gain (Loss)	$ (600)	$ 1,700

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	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Assets
Asset fair value, beginning balance	$ 107,075	$ 88,866
Transfers in to (out of) Level 3	1,839	1,347
Purchases	12,960	13,252
Sales	(13,710)	(11,687)
Realized and Unrealized Gains (Losses) (1)	(3,488)	(192)
Asset fair value, ending balance	104,676	91,586
Liabilities
Liability fair value, beginning balance	(2,256)	(1,418)
Transfers in to (out of) Level 3	0	0
Purchases	0	0
Sales	0	0
Realized and Unrealized Gains(Losses)	136	(19)
Liability fair value, ending balance	(2,120)	(1,437)
Total change in unrealized (gains) losses on fair value of assets using significant unobservable inputs	4,000	(1,300)
Derivative liabilities (free standing)
Liabilities
Liability fair value, beginning balance	(2,085)	(1,326)
Transfers in to (out of) Level 3	0	0
Purchases	0	0
Sales	0	0
Realized and Unrealized Gains(Losses)	89	0
Liability fair value, ending balance	(1,996)	(1,326)
Derivative liabilities (embedded)
Liabilities
Liability fair value, beginning balance	(171)	(92)
Transfers in to (out of) Level 3	0	0
Purchases	0	0
Sales	0	0
Realized and Unrealized Gains(Losses)	47	(19)
Liability fair value, ending balance	(124)	(111)
Private common equity securities
Assets
Asset fair value, beginning balance	4,794	4,799
Transfers in to (out of) Level 3	0	0
Purchases	0	0
Sales	0	0
Realized and Unrealized Gains (Losses) (1)	(442)	(54)
Asset fair value, ending balance	4,352	4,745
Private preferred equity securities
Assets
Asset fair value, beginning balance	57,126	48,834
Transfers in to (out of) Level 3	0	0
Purchases	161	0
Sales	(15)	(371)
Realized and Unrealized Gains (Losses) (1)	(2,041)	(113)
Asset fair value, ending balance	55,231	48,350
Asset-backed securities
Assets
Asset fair value, beginning balance	27,308	17,628
Transfers in to (out of) Level 3	1,839	1,347
Purchases	12,197	13,252
Sales	(12,446)	(10,796)
Realized and Unrealized Gains (Losses) (1)	(1,642)	(646)
Asset fair value, ending balance	27,256	20,785
Bank debt
Assets
Asset fair value, beginning balance		8,350
Transfers in to (out of) Level 3		0
Purchases		0
Sales		(254)
Realized and Unrealized Gains (Losses) (1)		626
Asset fair value, ending balance		8,722
Corporate bonds
Assets
Asset fair value, beginning balance	9,868	9,255
Transfers in to (out of) Level 3	0	0
Purchases	20	0
Sales	0	(266)
Realized and Unrealized Gains (Losses) (1)	193	(5)
Asset fair value, ending balance	10,081	$ 8,984
Other debt securities
Assets
Asset fair value, beginning balance	713
Transfers in to (out of) Level 3	0
Purchases	0
Sales	(892)
Realized and Unrealized Gains (Losses) (1)	179
Asset fair value, ending balance	0
Rights and warrants
Assets
Asset fair value, beginning balance	435
Transfers in to (out of) Level 3	0
Purchases	582
Sales	(204)
Realized and Unrealized Gains (Losses) (1)	6
Asset fair value, ending balance	819
Real estate
Assets
Asset fair value, beginning balance	6,831
Transfers in to (out of) Level 3	0
Purchases	0
Sales	(153)
Realized and Unrealized Gains (Losses) (1)	259
Asset fair value, ending balance	$ 6,937

Investments - Schedule of unobs

Investments - Schedule of unobservable inputs (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Corporate bonds	$ 65,718	$ 77,086
Derivative liabilities (embedded)	124	171
Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Corporate bonds	10,081	9,868
Derivative liabilities (embedded)	124	171
Private Equity Funds | Market Approach Valuation Technique | Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, Fair Value Disclosure	$ 6,357	$ 37,507
Private Equity Funds | Market Approach Valuation Technique | Significant unobservable inputs (Level 3) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Volatility	35.00%	35.00%
Fair Value Inputs, Discount Rate		0.00%
Fair Value Assumptions, Exit Term	1 year	6 months
Fair Value Assumptions, Multiples	6.5	7.8
Private Equity Funds | Market Approach Valuation Technique | Significant unobservable inputs (Level 3) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Volatility	65.00%	65.00%
Fair Value Inputs, Discount Rate		0.00%
Fair Value Assumptions, Exit Term	1 year 6 months	1 year 9 months 20 days
Fair Value Assumptions, Multiples	8.8	24.4
Other debt securities | Discounted cash flow | Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, Fair Value Disclosure		$ 713
Other debt securities | Discounted cash flow | Significant unobservable inputs (Level 3) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	0.00%	0.00%
Fair Value Inputs, Cap Rate	0.00%	0.00%
Other debt securities | Discounted cash flow | Significant unobservable inputs (Level 3) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Cap Rate	0.00%	10.00%
Real Estate Funds [Member] | Discounted cash flow | Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, Fair Value Disclosure	$ 6,937	$ 6,831
Fair Value Inputs, Discount Rate	9.50%	9.50%
Real Estate Funds [Member] | Discounted cash flow | Significant unobservable inputs (Level 3) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Cap Rate	6.50%	6.50%
Real Estate Funds [Member] | Discounted cash flow | Significant unobservable inputs (Level 3) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Cap Rate	10.00%	10.00%
Rights and warrants | Market Approach Valuation Technique | Significant unobservable inputs (Level 3) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Assumptions, Multiples	3	3.8
Rights and warrants | Market Approach Valuation Technique | Significant unobservable inputs (Level 3) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Assumptions, Multiples	3.5	4.6
Rights and warrants | Discounted cash flow | Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, Fair Value Disclosure	$ 818	$ 433
Fair Value Inputs, Discount Rate	15.80%	13.50%
Fair Value Assumptions, Exit Term	5 years	5 years

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Investment [Line Items]
Total change in unrealized (gains) losses on fair value of assets using significant unobservable inputs	$ 4,000,000	$ (1,300,000)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(3,488,000)	(192,000)
Transfer of Assets from Level 1 to Level 2	0		$ 0
Securities valued based on dealer quotes or other quoted market prices for similar securities	$ 170,400,000		$ 234,400,000
Percent of securities valued based on dealer quotes or other quoted market prices for similar securities	5.90%		7.60%
Securities sold, not yet purchased, valued based on dealer quotes or other quoted market prices for similar securities	$ 2,100,000		$ 2,100,000
Percent of securities sold, not yet purchased, valued based on dealer quotes or other quoted market prices for similar securities	0.60%		0.50%
investments fair valued by the Company’s Investment Manager	2.80%		2.70%
Private securities, percent fair valued by third party valuation firm	98.70%
Private common equity securities	$ 80,200,000		$ 83,400,000
Investments in funds valued at NAV	16,674,000		17,850,000
Bank debt	19,794,000		14,550,000
Corporate bonds
Investment [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	193,000	$ (5,000)
Significant unobservable inputs (Level 3)
Investment [Line Items]
Bank debt	0		0
Private Equity Funds | Significant unobservable inputs (Level 3) | Market Approach Valuation Technique
Investment [Line Items]
Investments, Fair Value Disclosure	$ 6,357,000		37,507,000
Other debt securities | Significant unobservable inputs (Level 3) | Discounted cash flow
Investment [Line Items]
Investments, Fair Value Disclosure			$ 713,000

Securities purchased under an57

Securities purchased under an agreement to sell, securities sold under an agreement to repurchase and securities lending transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	$ 19,067
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
Asset-backed securities
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	$ 18,673	$ 29,618
Corporate bonds
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	394
U.S. Treasury securities
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	843
Overnights and continuous
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0
Overnights and continuous | Asset-backed securities
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	0
Overnights and continuous | Corporate bonds
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0
Overnights and continuous | U.S. Treasury securities
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	843
Up to 30 days
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	18,673
Up to 30 days | Asset-backed securities
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	18,673	10,774
Up to 30 days | Corporate bonds
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0
Up to 30 days | U.S. Treasury securities
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0
30 - 90 days
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0
30 - 90 days | Asset-backed securities
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	18,844
30 - 90 days | Corporate bonds
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0
30 - 90 days | U.S. Treasury securities
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0
Greater than 90 days
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	394
Greater than 90 days | Asset-backed securities
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	0	$ 0
Greater than 90 days | Corporate bonds
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	394
Greater than 90 days | U.S. Treasury securities
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	$ 0

Due from_to brokers (Details)

Due from/to brokers (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Due from brokers
Cash held at brokers	$ 260,002	$ 295,467
Receivable from unsettled trades (1)	58,701	9,626
Due from brokers	318,703	305,093
Due to brokers
Borrowing from prime brokers	751,494	759,267
Payable from unsettled trades	41,139	10,938
Payables to Broker-Dealers and Clearing Organizations	792,633	770,205
Collateral	867,100	867,600
Non-US
Due from brokers
Cash held at brokers	$ 82,400	$ 70,100

Derivatives - Schedule of listi

Derivatives - Schedule of listing currency, fair value and notional amounts of derivative instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Derivative [Line Items]
Derivative assets, at fair value	$ 54,114		$ 73,372
Derivative Assets, Notional Amount	1,102,864		944,973
Derivative liabilities, at fair value	14,510		14,503
Derivative Liabilities, Notional Amount	655,830		864,947
Realized Gain (Loss)	16,820	$ (3,224)
Unrealized Gain (Loss)	(19,441)	13,952
OTC Option Asset	12,000		3,000
OTC Option Liability	5,400		5,700
Credit Default Swaps - Protection Purchased
Derivative [Line Items]
Derivative assets, at fair value	9,020		8,205
Derivative Assets, Notional Amount	56,381		50,593
Derivative liabilities, at fair value	86		1,250
Derivative Liabilities, Notional Amount	12,928		19,418
Realized Gain (Loss)	(1,248)	(1,328)
Unrealized Gain (Loss)	559	1,620
Credit Default Swaps - Protection Sold
Derivative [Line Items]
Derivative liabilities, at fair value	2,448		2,085
Derivative Liabilities, Notional Amount	4,703		2,351
Realized Gain (Loss)	848	19
Unrealized Gain (Loss)	(761)	(24)
Total Return Swaps - Long Contracts
Derivative [Line Items]
Derivative assets, at fair value	23,013		25,245
Derivative Assets, Notional Amount	23,013		25,245
Realized Gain (Loss)	442	0
Unrealized Gain (Loss)	805	0
Contracts for Differences | Long Contracts / Purchased
Derivative [Line Items]
Derivative assets, at fair value	10,817		17,298
Derivative Assets, Notional Amount	115,267		163,868
Derivative liabilities, at fair value	4,297		2,200
Derivative Liabilities, Notional Amount	66,894		93,200
Realized Gain (Loss)	14,200	7,870
Unrealized Gain (Loss)	(8,578)	5,476
Contracts for Differences | Short Contracts / Sold
Derivative [Line Items]
Derivative assets, at fair value	3,709		4,384
Derivative Assets, Notional Amount	28,931		31,992
Derivative liabilities, at fair value	182		776
Derivative Liabilities, Notional Amount	9,257		8,483
Realized Gain (Loss)	4,060	(3,212)
Unrealized Gain (Loss)	(81)	1,124
Total Return Swaps | Long Contracts / Purchased
Derivative [Line Items]
Derivative assets, at fair value	787		15,936
Derivative Assets, Notional Amount	17,315		96,388
Derivative liabilities, at fair value			73
Derivative Liabilities, Notional Amount			50,858
Realized Gain (Loss)	19,191	3,801
Unrealized Gain (Loss)	(15,077)	5,002
Total Return Swaps | Short Contracts / Sold
Derivative [Line Items]
Derivative assets, at fair value			1
Derivative Assets, Notional Amount			0
Derivative liabilities, at fair value	119		1,885
Derivative Liabilities, Notional Amount	86,050		52,657
Realized Gain (Loss)	(6,856)	(2,729)
Unrealized Gain (Loss)	1,765	(413)
Interest Rate Swaps
Derivative [Line Items]
Realized Gain (Loss)	0	1,453
Unrealized Gain (Loss)	0	365
Interest Rate Swaptions
Derivative [Line Items]
Derivative assets, at fair value	273		539
Derivative Assets, Notional Amount	68,591		64,950
Derivative liabilities, at fair value	26		70
Derivative Liabilities, Notional Amount	68,344		64,482
Realized Gain (Loss)	0	1,242
Unrealized Gain (Loss)	(221)	(1,769)
Sovereign Debt Futures | Short Contracts / Sold
Derivative [Line Items]
Derivative liabilities, at fair value	24
Derivative Liabilities, Notional Amount	125,774
Realized Gain (Loss)	(1)	(1,782)
Unrealized Gain (Loss)	(24)	764
Foreign Currency Forward
Derivative [Line Items]
Derivative assets, at fair value	5,548		1,764
Derivative Assets, Notional Amount	716,389		511,937
Derivative liabilities, at fair value	7,287		6,164
Derivative Liabilities, Notional Amount	210,796		573,498
Realized Gain (Loss)	(13,816)	(5,874)
Unrealized Gain (Loss)	2,665	1,385
Foreign Currency Options | Long Contracts / Purchased
Derivative [Line Items]
Derivative assets, at fair value	947
Derivative Assets, Notional Amount	76,977
Realized Gain (Loss)	0	(4,869)
Unrealized Gain (Loss)	(576)	502
Foreign Currency Options | Short Contracts / Sold
Derivative [Line Items]
Derivative liabilities, at fair value	41
Derivative Liabilities, Notional Amount	71,084
Realized Gain (Loss)	0	2,185
Unrealized Gain (Loss)	83	(80)
Embedded derivatives in reinsurance contracts
Derivative [Line Items]
Derivative liabilities, at fair value	124		171
Derivative Liabilities, Notional Amount	20,000		20,000
Realized Gain (Loss)	0	0
Unrealized Gain (Loss)	47	(19)
Derivative liabilities (embedded)
Derivative [Line Items]
Derivative liabilities, at fair value	124		171
Derivative Liabilities, Notional Amount	20,000		$ 20,000
Realized Gain (Loss)	0	0
Unrealized Gain (Loss)	$ 47	$ (19)

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 16,820	$ (3,224)
OTC Option Asset	12,000		$ 3,000
OTC Option Liability	5,400		5,700
Derivative with Credit Risk Feature, Net	1,400		3,600
Derivative Instruments with Credit-Risk-Related Contingent Features [Member]
Derivative [Line Items]
Derivative, Collateral, Right to Reclaim Cash	51,200		$ 103,000
Derivative, Collateral, Obligation to Return Cash	$ 2,600

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	Mar. 31, 2018	Dec. 31, 2017
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (1)	$ 54,114	$ 73,372
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)	14,510	14,503
Counterparty 15 [Member]
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)		836
Financial Instruments		0
Cash Collateral Received		732
Net Amount		104
Counterparty 7
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)	442
Financial Instruments	442
Cash Collateral Received	0
Financial Liabilities, Derivative Liabilities and Collateral Pledged [Member]
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)	19,923
Financial Instruments	18,549
Cash Collateral Received	1,374
Net Amount	0
Financial assets, derivative assets and collateral received
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (1)	66,079	76,350
Financial Instruments	18,547	16,583
Cash Collateral Received	2,529	3,222
Net Amount	45,003	56,545
Financial assets, derivative assets and collateral received | Counterparty 1
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (1)	157	167
Financial Instruments	157	167
Cash Collateral Received	0	0
Net Amount	0	0
Financial assets, derivative assets and collateral received | Counterparty 2
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (1)	2,639	1,343
Financial Instruments	215	706
Cash Collateral Received	0	0
Net Amount	2,424	637
Financial assets, derivative assets and collateral received | Counterparty 3
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (1)	30,666	37,313
Financial Instruments	1,285	2,705
Cash Collateral Received	0	0
Net Amount	29,381	34,608
Financial assets, derivative assets and collateral received | Counterparty 4
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (1)	3,036	2,683
Financial Instruments	3,036	2,683
Cash Collateral Received	0	0
Net Amount	0	0
Financial assets, derivative assets and collateral received | Counterparty 5
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (1)	10,601	14,798
Financial Instruments	5,829	6,647
Cash Collateral Received	0	0
Net Amount	4,772	8,151
Financial assets, derivative assets and collateral received | Counterparty 6
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (1)	3,650	5,338
Financial Instruments	109	9
Cash Collateral Received	1,312	2,122
Net Amount	2,229	3,207
Financial assets, derivative assets and collateral received | Counterparty 7
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (1)	1,811	1,377
Financial Instruments	442	0
Cash Collateral Received	1,217	1,100
Net Amount	152	277
Financial assets, derivative assets and collateral received | Counterparty 8
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (1)	12,117	12,628
Financial Instruments	7,228	2,963
Cash Collateral Received	0	0
Net Amount	4,889	9,665
Financial assets, derivative assets and collateral received | Counterparty 9
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (1)	1,402	703
Financial Instruments	246	703
Cash Collateral Received	0	0
Net Amount	1,156	0
Financial Liabilities, Derivative Liabilities and Collateral Pledged [Member]
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)		20,199
Financial Instruments		16,583
Cash Collateral Received		3,512
Net Amount		104
Financial Liabilities, Derivative Liabilities and Collateral Pledged [Member] | Counterparty 1
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)	452	1,340
Financial Instruments	158	167
Cash Collateral Received	294	1,173
Net Amount	0	0
Financial Liabilities, Derivative Liabilities and Collateral Pledged [Member] | Counterparty 2
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)	215	706
Financial Instruments	215	706
Cash Collateral Received	0	0
Net Amount	0	0
Financial Liabilities, Derivative Liabilities and Collateral Pledged [Member] | Counterparty 3
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)	1,285	2,705
Financial Instruments	1,285	2,705
Cash Collateral Received	0	0
Net Amount	0	0
Financial Liabilities, Derivative Liabilities and Collateral Pledged [Member] | Counterparty 4
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)	4,117	3,812
Financial Instruments	3,037	2,683
Cash Collateral Received	1,080	1,129
Net Amount	0	0
Financial Liabilities, Derivative Liabilities and Collateral Pledged [Member] | Counterparty 5
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)	5,829	6,647
Financial Instruments	5,829	6,647
Cash Collateral Received	0	0
Net Amount	0	0
Financial Liabilities, Derivative Liabilities and Collateral Pledged [Member] | Counterparty 6
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)	109	9
Financial Instruments	109	9
Cash Collateral Received	0	0
Net Amount	0	0
Financial Liabilities, Derivative Liabilities and Collateral Pledged [Member] | Counterparty 7
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Net Amount	0
Financial Liabilities, Derivative Liabilities and Collateral Pledged [Member] | Counterparty 8
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)	7,228	2,963
Financial Instruments	7,228	2,963
Cash Collateral Received	0	0
Net Amount	0	0
Financial Liabilities, Derivative Liabilities and Collateral Pledged [Member] | Counterparty 9
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)	246	1,181
Financial Instruments	246	703
Cash Collateral Received	0	478
Net Amount	0	0
Net investment gains (losses) on securities sold under an agreement to repurchase | Counterparty 3
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)	833
Financial Instruments	833
Cash Collateral Received	0
Net Amount	0
Net investment gains (losses) on securities sold under an agreement to repurchase | Counterparty 4
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)	19,067	29,618
Financial Instruments	19,067	29,618
Cash Collateral Received	0	0
Net Amount	0	0
Net investment gains (losses) on securities sold under an agreement to repurchase | Financial Liabilities, Derivative Liabilities and Collateral Pledged [Member]
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Gross Amount (2)	19,900	29,618
Financial Instruments	19,900	29,618
Cash Collateral Received	0	0
Net Amount	$ 0	$ 0

Loss and loss adjustment expe62

Loss and loss adjustment expense reserves - Schedule of loss and loss adjustment expense reserves (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Insurance Loss Reserves [Abstract]
Case loss and loss adjustment expense reserves	$ 115,243	$ 115,622
Incurred but not reported loss and loss adjustment expense reserves	645,786	604,260
Deferred gains on retroactive reinsurance contracts	602	688
Loss and loss adjustment expense reserves	$ 761,631	$ 720,570

Loss and loss adjustment expe63

Loss and loss adjustment expense reserves - Schedule of activity in the reserve for losses and loss adjustment expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross reserves for loss and loss adjustment expenses, beginning of period	$ 720,570	$ 605,129
Less: loss and loss adjustment expenses recoverable, beginning of period	(1,113)	(1)
Net reserves for loss and loss adjustment expenses, beginning of period	719,457	605,128
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Current year	75,759	85,123
Prior years	(16,947)	(933)
Amortization of deferred gains on retroactive reinsurance contracts	(86)	(161)
Total incurred loss and loss adjustment expenses	92,620	85,895
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Current year	(11,988)	(5,101)
Prior years	(46,459)	(62,046)
Total net paid losses	(58,447)	(67,147)
Foreign currency translation	6,669	1,858
Net reserves for loss and loss adjustment expenses, end of period	760,299	625,734
Plus: loss and loss adjustment expenses recoverable, end of period	1,332	52
Gross reserves for loss and loss adjustment expenses, end of period	761,631	625,786
Prior year claim including amortization adjustments	16,900	772
Unfavorable (Favorable) Reserve Development [Member]
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Prior years	600	1,600
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Change In Policy Acquisition Costs	(100)	(1,600)
Increase in net underwriting loss	500
Premium Adjustments on Certain Contracts [Member]
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Prior years	(17,500)	(2,400)
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Change in Accounting Estimate, Financial Impact	22,600	3,400
Prior Year Claims and Claims Adjustment Expense, Increase (Decrease) in Premium Estimates	22,900	(3,400)
Change In Policy Acquisition Costs	(5,100)	$ (1,000)
Increase in net underwriting loss	300
Impact On Underwriting Income [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Increase in net underwriting loss	$ 800

Ceded reinsurance premiums (Det

Ceded reinsurance premiums (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Ceded reinsurance premiums [Abstract]
Ceded Premiums Written	$ 14,646	$ 1,125
Loss and loss adjustment expenses recoverable	$ 1,332	$ 52	$ 1,113	$ 1

Management, performance and f65

Management, performance and founders fees (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Performance fee payable to related party	$ 20		$ 0
Management and performance fees to related parties	10,047	$ 39,325
Management and Performance Fees [Member]
Related Party Transaction [Line Items]
Management and performance fees to related parties	$ 10,047	39,325
TP LLC
Related Party Transaction [Line Items]
Annual investment management fee	1.50%
Third Point LLC | Management and Performance Fees [Member]
Related Party Transaction [Line Items]
Management and performance fees to related parties	$ 9,775	8,467
Third Point Advisors LLC
Related Party Transaction [Line Items]
Annual investment performance fee	20.00%
Third Point Advisors LLC | Net investment income
Related Party Transaction [Line Items]
Management and performance fees to related parties			94,000
Third Point Advisors LLC | Management and Performance Fees [Member]
Related Party Transaction [Line Items]
Management and performance fees to related parties	$ 2,380	30,858
Third Point Reinsurance Company Ltd [Member]
Related Party Transaction [Line Items]
Loss Recovery Reserve	2,100		0
Third Point Re USA [Member]
Related Party Transaction [Line Items]
Loss Recovery Reserve	0		$ 0
Performance Fees - Loss Carryforward [Member] | Management and Performance Fees [Member]
Related Party Transaction [Line Items]
Management and performance fees to related parties	$ (2,108)	$ 0

Deposit contracts (Details)

Deposit contracts (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Deposit Contracts, Liabilities [Roll Forward]
Balance, beginning of period	$ 129,133	$ 104,905
Consideration received	1,114	22,658
Consideration receivable	0	2,080
Net investment expense allocation	1,261	2,800
Payments	(1,729)	(3,545)
Foreign currency translation	178	235
Balance, end of period	$ 129,957	$ 129,133

Senior notes payable and lett67

Senior notes payable and letter of credit facilities (Senior notes payable) (Details) - Senior unsecured notes - 7% Senior Unsecured Notes - USD ($)	Mar. 31, 2018	Dec. 31, 2017	Feb. 28, 2015
Debt Instrument [Line Items]
Debt issued	$ 115,000,000		$ 115,000,000
Interest rate	7.00%		7.00%
Debt issuance cost	$ 1,200,000
Debt fair value	$ 114,700,000	$ 116,700,000

Senior notes payable and lett68

Senior notes payable and letter of credit facilities (Letters of credit) (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Line of Credit Facility [Line Items]
Collateral	$ 867,100,000	$ 867,600,000
Restricted cash securing letter of credit facilities
Line of Credit Facility [Line Items]
Facility	425,000,000
Utilized	236,994,000
Collateral	236,994,000
Restricted cash securing letter of credit facilities | Citibank
Line of Credit Facility [Line Items]
Facility	300,000,000
Utilized	161,024,000
Collateral	161,024,000
Restricted cash securing letter of credit facilities | Lloyds Bank [Member]
Line of Credit Facility [Line Items]
Facility	125,000,000
Utilized	75,970,000
Collateral	$ 75,970,000

Net investment income (Details)

Net investment income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net Investment Income [Abstract]
Net realized gains on investments and investment derivatives	$ 65,770	$ 61,074
Net unrealized gains (losses) on investments and investment derivatives	(62,987)	95,674
Net losses on foreign currencies	(787)	(552)
Dividend and interest income	13,224	17,267
Dividends paid on securities sold, not yet purchased	(1,892)	(525)
Other expenses	(5,489)	(5,103)
Net Investment Income before Management and Performance Fees	7,839	167,835
Management and performance fees to related parties	(10,047)	(39,325)
Net investment income (loss)	$ (2,208)	$ 128,510

Net investment income - by Type

Net investment income - by Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Schedule of Net Investment Income (Loss) by Asset Type
Other investment expenses	$ (352)	$ (1,914)
Net investment income (loss) on derivative contracts	(2,621)	10,728
Net investment loss on cash, including foreign exchange loss	(3,860)	(2,936)
Net investment losses on securities purchased under an agreement to sell and securities sold under and agreement to repurchase	(209)	(20)
Withholding taxes reclassified to income tax expense	965	990
Other Investment Income and Other	(6,077)	6,848
Investment Income before Management and Performance Fees	7,839	167,835
Management and performance fees to related parties	(10,047)	(39,325)
Net investment income (loss)	(2,208)	128,510
Net investment income (loss) by asset type
Schedule of Net Investment Income (Loss) by Asset Type
Total net investment income (loss) from invested assets	(2,700)	170,371
Net investment income (loss) by asset type | Real estate
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	87	0
Net investment income (loss) by asset type | Total other investments
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	(989)	(7,258)
Net investment income (loss) by asset type | Net investment income (loss) in funds valued at NAV
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	(908)	3,623
Net investment income (loss) by asset type | Options
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	(1,057)	(7,465)
Net investment income (loss) by asset type | Rights and warrants
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	(16)	44
Net investment income (loss) by asset type | Trade claims
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	(3)	163
Net investment income (loss) by asset type | Equity securities
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	(20,807)	150,504
Net investment income (loss) by asset type | Equity securities
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	(18,325)	150,269
Net investment income (loss) by asset type | Private common equity securities
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	(442)	(27)
Net investment income (loss) by asset type | Private preferred equity securities
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	(2,040)	262
Net investment income (loss) by asset type | Debt Securities [Member]
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	20,004	23,502
Net investment income (loss) by asset type | Asset-backed securities
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	12,449	2,833
Net investment income (loss) by asset type | Bank debt
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	2,521	4,142
Net investment income (loss) by asset type | Corporate bonds
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	(2,676)	8,915
Net investment income (loss) by asset type | Municipal Bonds
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	3,778	0
Net investment income (loss) by asset type | U.S. Treasury securities
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	(637)	1,160
Net investment income (loss) by asset type | Sovereign debt
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	4,131	6,452
Net investment income (loss) by asset type | Other debt securities
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	438	0
Net investment income (loss) by liability type | Options
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	3,733	(1,693)
Net investment income (loss) by liability type | Equity securities
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	16,616	(9,384)
Net investment income (loss) by liability type | Equity securities
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	12,918	(5,998)
Net investment income (loss) by liability type | Corporate bonds
Schedule of Net Investment Income (Loss) by Asset Type
Investment Income, gross	$ (35)	$ (1,693)

Other expenses (Details)

Other expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Income and Expenses [Abstract]
Investment expense on deposit liabilities	$ 1,261	$ 409
Investment expense and change in fair value of embedded derivatives in reinsurance contracts	2,734	2,492
Other expenses	$ 3,995	$ 2,901

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax [Line Items]
Provision for uncertain tax positions	$ 1,900		$ 1,900
Income tax expense	128	$ 5,298
income tax expense - subsidiary [Member]
Income Tax [Line Items]
Income tax expense	(849)	4,182
Uncertain tax positions [Member]
Income Tax [Line Items]
Income tax expense	12	126
Withholding taxes [Member]
Income Tax [Line Items]
Income tax expense	$ 965	$ 990

Share capital - Common shares a

Share capital - Common shares and treasury shares (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities, Gross of Adjustments	1,156,184
Warrants Retired During the Period	794,628
Common shares issued, beginning of period	103,282,427
Common shares issued, end of period	102,244,248	105,004,444
Balance, beginning of period	(3,944,920)
Balance, end of period	0	(2,177,639)
Treasury Stock, Shares, Retired	(5,583,228)	0
Stock Issued During Period, Shares, Conversion of Convertible Securities	361,556	0
Common Stock, Shares, Issued	102,244,248	107,182,083	107,227,347	106,501,299
Options exercised
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	0	50,000
Restricted shares with service condition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	2,516	0
Performance restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	236,057	630,784

Share capital - Authorized and

Share capital - Authorized and issued (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Equity [Abstract]
Authorized share capital	$ 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
Common share, shares outstanding (in shares)	102,244,248	103,282,427	105,004,444
Preference shares, shares outstanding (in shares)	0	0
Stock Repurchased and Retired During Period, Shares	1,638,308
Payments for Repurchase of Common Stock	$ 23,800,000
Treasury Stock Acquired, Average Cost Per Share	$ 14.55

Share capital -Share repurchase

Share capital -Share repurchase (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Feb. 28, 2018
Share repurchase [Abstract]
Stock Repurchase Program, Increase in Authorized Amount		$ 148,300,000
Repurchase program, authorized amount		$ 200,000,000
Stock Repurchased and Retired During Period, Shares	1,638,308
Payments for Repurchase of Common Stock	$ 23,800,000
Treasury Stock Acquired, Average Cost Per Share	$ 14.55
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 176,162,892

Share-based compensation - Narr

Share-based compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized share compensation expense	$ 9.7	$ 5.8
Unamortized share compensation expense, period of recognition	1 year 8 months 12 days	1 year 6 months
Management and director options
Fair value assumptions
Remaining contractual life	3 years 10 months 27 days	4 years 2 months 12 days

Share-based compensation - Sche

Share-based compensation - Schedule of share-based comp expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share compensation expenses	$ 1,245	$ 1,830
Management and director options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share compensation expenses	95	347
Restricted shares with service condition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share compensation expenses	140	124
Restricted shares with service and performance condition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share compensation expenses	$ 1,010	$ 1,359

Share-based compensation - Sc78

Share-based compensation - Schedule of management and director options activity (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Number of options (in shares)
Outstanding (in shares)	8,888,053	9,596,993
Forfeited (in shares)	0	(558,138)
Exercised (in shares)	0	(150,802)
Outstanding (in shares)	8,888,053	8,888,053
Weighted average exercise price (in dollars per share)
Outstanding (in dollars per share)	$ 13.43	$ 13.64
Forfeited (in dollars per share)	0	18
Exercised (in dollars per share)	0	10
Outstanding (in dollars per share)	$ 13.43	$ 13.43

Share-based compensation - Sc79

Share-based compensation - Schedule of management and director options outstanding (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding (in shares)	8,888,053	8,888,053	9,596,993
Options outstanding, weighted average exercise price (in dollars per share)	$ 13.43	$ 13.43	$ 13.64
Management and director options
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding (in shares)	8,888,053
Options outstanding, weighted average exercise price (in dollars per share)	$ 13.43
Remaining contractual life	3 years 10 months 27 days	4 years 2 months 12 days
Options exercisable (in shares)	8,748,521
Options exercisable, weighted average exercise price (in dollars per share)	$ 13.39
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 10 months 20 days	4 years 1 month 6 days
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)	5,123,532
Options outstanding, weighted average exercise price (in dollars per share)	$ 10.04
Remaining contractual life	3 years 10 months 2 days
Options exercisable (in shares)	5,081,671
Options exercisable, weighted average exercise price (in dollars per share)	$ 10.03
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)	1,917,145
Options outstanding, weighted average exercise price (in dollars per share)	$ 15.93
Remaining contractual life	4 years 14 days
Options exercisable (in shares)	1,861,332
Options exercisable, weighted average exercise price (in dollars per share)	$ 15.94
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)	1,847,376
Options outstanding, weighted average exercise price (in dollars per share)	$ 20.26
Remaining contractual life	3 years 11 months 23 days
Options exercisable (in shares)	1,805,518
Options exercisable, weighted average exercise price (in dollars per share)	$ 20.22

Share-based compensation - Sc80

Share-based compensation - Schedule of restricted shares with service condition award activity (Details) - Restricted shares with service condition - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Number of non-vested restricted shares (in shares)
Outstanding, beginning of period (in shares)	18,209	301,043
Granted (in shares)	2,516	36,418
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period		71,429
Vested (in shares)	(9,561)	(247,823)
Outstanding, end of period (in shares)	11,164	18,209
Weighted average grant data fair value (in dollars per share)
Outstanding (in dollars per share)	$ 12.15	$ 11.12
Granted (in dollars per share)	15.30	12.15
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value		14
Vested (in dollars per share)	12.30	10.36
Outstanding (in dollars per share)	$ 12.73	$ 12.15

Share-based compensation - Sc81

Share-based compensation - Schedule of restricted shares with service and performance condition (Details) - Restricted shares with service and performance condition - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Number of non-vested restricted shares (in shares)
Outstanding, beginning of period (in shares)	1,855,379	1,381,740
Granted (in shares)	530,077	935,825
Forfeited (in shares)	(288,700)	(325,568)
Vested (in shares)	(115,757)	(136,618)
Outstanding, end of period (in shares)	1,980,999	1,855,379
Number of non-vested restricted shares probable of vesting
Outstanding, beginning of period (in shares)	887,203	577,486
Granted (in shares)	353,380	623,882
Forfeited (in shares)	0	(45,617)
Vested (in shares)	$ (115,757)	$ (136,618)
Change in estimated restricted shares considered probably of vesting (in shares)	19,197	(131,930)
Outstanding, end of period (in shares)	1,144,023	887,203
Weighted average grant data fair value (in dollars per share)
Outstanding (in dollars per share)	$ 12.60	$ 12.91
Granted (in dollars per share)	14.05	12.66
Forfeited (in dollars per share)	14	12.57
Change in estimated restricted shares considered probable of vesting (in dollars per share)	11.70	12.17
Outstanding (in dollars per share)	12.64	12.60
Vested (in dollars per share)	$ 14	$ 14.60

Non-controlling interests - Sch

Non-controlling interests - Schedule of Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Balance, beginning of period	$ 5,407
Balance, end of period	5,089
Redeemable Noncontrolling Interest [Roll Forward]
Balance, beginning of period	108,219
Balance, end of period	6,801
Total Noncontrolling Interests [Roll Forward]
Total noncontrolling interests in related party	11,890	$ 16,849	$ 113,626	$ 35,674
Net income (loss) attributable to total noncontrolling interests in related party	10	1,174
Contributions	254	0
Redemptions	(102,000)	(19,999)
Third Point Re BDA
Total Noncontrolling Interests [Roll Forward]
Total noncontrolling interests in related party	8,852	13,291	97,619	30,358
Net income (loss) attributable to total noncontrolling interests in related party	(7)	932
Contributions	240	0
Redemptions	(89,000)	(17,999)
Third Point Re USA
Total Noncontrolling Interests [Roll Forward]
Total noncontrolling interests in related party	3,038	3,558	16,007	5,316
Net income (loss) attributable to total noncontrolling interests in related party	17	242
Contributions	14	0
Redemptions	(13,000)	(2,000)
Redeemable noncontrolling interests in related party
Redeemable Noncontrolling Interest [Roll Forward]
Balance, beginning of period	108,219	0
Changes in capital account allocation	(101,418)	0
Balance, end of period	6,801	0
Noncontrolling interests in related party
Noncontrolling Interest [Line Items]
Balance, beginning of period	5,407	35,674
Changes in capital account allocation	(318)	(18,825)
Balance, end of period	5,089	16,849
Total noncontrolling interests in related party
Total Noncontrolling Interests [Roll Forward]
Total noncontrolling interests in related party	11,890	16,849	$ 113,626	$ 35,674
Changes in capital account allocation	$ (101,736)	(18,825)
Scenario, Adjustment [Member]
Redeemable Noncontrolling Interest [Roll Forward]
Balance, end of period		$ 12,200

Non-controlling interests - Nar

Non-controlling interests - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Cayman Holdco [Member]
Noncontrolling Interest [Line Items]
Equity method investment, ownership percentage	14.60%		15.60%
Equity method investments, fair value disclosure	$ 1,200,000		$ 600,000
Payments for (Proceeds from) Limited Partnership	300,000	$ (19,600,000)
Third Point Hellenic Recovery US Feeder Fund, L.P. [Member]
Noncontrolling Interest [Line Items]
Committed Capital	10,700,000		$ 10,900,000
Unfunded Capital Commitments	$ 3,200,000
Equity method investment, ownership percentage	2.90%		2.90%
Equity method investments, fair value disclosure	$ 4,000,000		$ 4,900,000
Payments for (Proceeds from) Limited Partnership	$ 0	0
TP DR Holdings LLC [Member]
Noncontrolling Interest [Line Items]
Equity method investment, ownership percentage	100.00%
Equity method investment, interest in equity	6.80%		7.00%
Equity method investment, interest in debt	13.20%		13.10%
Equity method investments, fair value disclosure	$ 12,600,000		$ 12,700,000
Equity Method Investment, Fair Value of Interest in Equity	3,400,000		3,700,000
Equity Method Investment, Fair Value of Interest in Debt	$ 9,200,000		$ 9,000,000
TP Trading II LLC [Member]
Noncontrolling Interest [Line Items]
Equity method investment, ownership percentage	9.00%		9.30%
Equity method investments, fair value disclosure	$ 5,500,000		$ 6,000,000
Ventures Entities [Member]
Noncontrolling Interest [Line Items]
Unfunded Capital Commitments	11,800,000
Asset-backed securities | Cloudbreak II Cayman Ltd
Noncontrolling Interest [Line Items]
Investments in and Advances to Affiliates, at Fair Value	3,400,000		4,600,000
Real Estate Funds [Member] | Ventures Entities [Member]
Noncontrolling Interest [Line Items]
Investments in and Advances to Affiliates, at Fair Value	7,100,000		$ 7,500,000
Cash [Member] | TP DR Holdings LLC [Member]
Noncontrolling Interest [Line Items]
Payments for (Proceeds from) Limited Partnership	$ 600,000	$ 400,000

Earnings (loss)per share (Detai

Earnings (loss)per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Weighted-average number of common shares outstanding:
Basic number of common shares outstanding	101,195,747	104,013,871
Dilutive effect of options	0	781,568
Dilutive effect of warrants	0	722,816
Dilutive effect of restricted shares with service and performance condition	0	183,344
Diluted number of common shares outstanding	101,195,747	105,701,599
Basic earnings (loss) per common share:
Net income (loss) available to Third Point Re common shareholders	$ (26,001)	$ 104,186
Net income allocated to Third Point Re participating common shareholders	0	(139)
Net income (loss) allocated to Third Point Re common shareholders	$ (26,001)	$ 104,047
Basic earnings (loss) per common share	$ (0.26)	$ 1
Earnings per share, diluted [Abstract]
Net income (loss) available to Third Point Re common shareholders	$ (26,001)	$ 104,186
Net income allocated to Third Point Re participating common shareholders	0	(136)
Net income (loss) allocated to Third Point Re common shareholders	$ (26,001)	$ 104,050
Diluted earnings (loss) per common share	$ (0.26)	$ 0.98
Options
Earnings per share, diluted [Abstract]
Antidilutive securities excluded from computation of earnings per share	3,764,521	4,322,659
Options and Warrants [Member]
Earnings per share, diluted [Abstract]
Antidilutive securities excluded from computation of earnings per share	10,382,268

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Investments in securities, commodities, and derivative contracts | Third Point Loan L.L.C
Related Party Transaction [Line Items]
Estimated fair value of investment	$ 86.8	$ 99.6
Investments in securities, commodities, and derivative contracts | Third Point Ventures L.L.C.
Related Party Transaction [Line Items]
Estimated fair value of investment	32	6.3
Investments in securities, commodities, and derivative contracts | Blackrock Inc. [Domain]
Related Party Transaction [Line Items]
Estimated fair value of investment	79.6	$ 106.5	$ 0
Investment Income [Member] | Blackrock Inc. [Domain]
Related Party Transaction [Line Items]
Estimated fair value of investment	$ 6.5

Financial instruments with of86

Financial instruments with off-balance sheet risk or concentrations of credit risk (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Guarantor Obligations [Line Items]
Asset	$ 54,114	$ 73,372
Liability	14,510	14,503
Written credit derivatives | Single name (0 - 250)
Guarantor Obligations [Line Items]
0-5 years	2,263	0
5 years or Greater Expiring Through 2046	2,440	2,351
Total Written Credit Default Swaps	4,703	2,351
Asset	0	0
Liability	2,448	2,085
Net Asset/(Liability)	(2,448)	(2,085)
Credit risk exposure
Guarantor Obligations [Line Items]
Maximum counterparty credit risk exposure	66,100	76,400
Written put options
Guarantor Obligations [Line Items]
Option contracts maximum payout	677,900	399,200
Written put options | Securities sold, not yet purchased
Guarantor Obligations [Line Items]
Options contracts at fair value	$ 4,700	$ 3,500
Written put options | Minimum
Guarantor Obligations [Line Items]
Option contracts maximum payout term	1 month
Written put options | Maximum
Guarantor Obligations [Line Items]
Option contracts maximum payout term	6 months

Commitments and Contingencies (

Commitments and Contingencies (Details) - Senior unsecured notes - 7% Senior Unsecured Notes - USD ($)	Mar. 31, 2018	Feb. 28, 2015
Other Commitments [Line Items]
Debt issued	$ 115,000,000	$ 115,000,000
Interest rate	7.00%	7.00%

Segment reporting - Operating S

Segment reporting - Operating Segments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)segment	Mar. 31, 2017USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment	1
Segment Reporting Information [Line Items]
Gross premiums written	$ 378,360	$ 146,354
Gross premiums ceded	(14,646)	(1,125)
Net premiums written	363,714	145,229
Change in net unearned premium reserves	(221,228)	(7,220)
Net premiums earned	142,486	138,009
Loss and loss adjustment expenses incurred, net	92,620	85,895
Acquisition costs, net	51,405	54,452
General and administrative expenses	9,481	10,572
Total expenses	153,506	150,919
Net investment income	(2,208)	128,510
Other expenses	(3,995)	(2,901)
Interest expense	(2,029)	(2,026)
Foreign exchange gains	(6,611)	(15)
Income tax expense	(128)	(5,298)
Net income attributable to noncontrolling interests in related party	(10)	(1,174)
Net income (loss) available to Third Point Re common shareholders	$ (26,001)	$ 104,186
Gross Premiums As Percentage Of Total Gross Premiums	100.00%	100.00%
Corporate
Segment Reporting Information [Line Items]
Gross premiums written	$ 0	$ 0
Gross premiums ceded	0	0
Net premiums written	0	0
Change in net unearned premium reserves	0	0
Net premiums earned	0	0
Loss and loss adjustment expenses incurred, net	0	0
Acquisition costs, net	0	0
General and administrative expenses	4,657	4,260
Total expenses	4,657	4,260
Net investment income	(4,807)	92,390
Other expenses	0	0
Interest expense	(2,029)	(2,026)
Foreign exchange gains	0	0
Income tax expense	(128)	(5,298)
Net income attributable to noncontrolling interests in related party	(10)	(1,174)
Net income (loss) available to Third Point Re common shareholders	(11,631)	79,632
Property and Casualty Reinsurance | Retroactive Reinsurance Contract [Member]
Segment Reporting Information [Line Items]
Gross premiums written	$ 0	$ 0
Gross Premiums As Percentage Of Total Gross Premiums	0.00%	0.00%
Property and Casualty Reinsurance | Property
Segment Reporting Information [Line Items]
Gross premiums written	$ 369	$ 12
Gross Premiums As Percentage Of Total Gross Premiums	0.10%	0.00%
Property and Casualty Reinsurance | Casualty
Segment Reporting Information [Line Items]
Gross premiums written	$ 153,220	$ 87,205
Gross Premiums As Percentage Of Total Gross Premiums	40.50%	59.60%
Property and Casualty Reinsurance | Specialty
Segment Reporting Information [Line Items]
Gross premiums written	$ 224,771	$ 59,137
Gross Premiums As Percentage Of Total Gross Premiums	59.40%	40.40%
Property and Casualty Reinsurance | Operating Segments
Segment Reporting Information [Line Items]
Gross premiums written	$ 378,360	$ 146,354
Gross premiums ceded	(14,646)	(1,125)
Net premiums written	363,714	145,229
Change in net unearned premium reserves	(221,228)	(7,220)
Net premiums earned	142,486	138,009
Loss and loss adjustment expenses incurred, net	92,620	85,895
Acquisition costs, net	51,405	54,452
General and administrative expenses	4,824	6,312
Total expenses	148,849	146,659
Net underwriting loss	6,363	8,650
Net investment income	2,599	36,120
Other expenses	(3,995)	(2,901)
Interest expense	0	0
Foreign exchange gains	(6,611)	(15)
Income tax expense	0	0
Net income attributable to noncontrolling interests in related party	0	0
Net income (loss) available to Third Point Re common shareholders	$ (14,370)	$ 24,554
Loss ratio	65.00%	62.20%
Acquisition cost ratio	36.10%	39.50%
Composite ratio	101.10%	101.70%
General and administrative expense ratio	3.40%	4.60%
Combined ratio	104.50%	106.30%

Segment reporting - Concentrati

Segment reporting - Concentration Risk (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue, Major Customer [Line Items]
Assumed Premiums Written	$ 378,360	$ 146,354
Gross Premiums As Percentage Of Total Gross Premiums	100.00%	100.00%
Gross Premiums Written
Revenue, Major Customer [Line Items]
Assumed Premiums Written	$ 378,360	$ 146,354
Concentration risk, percentage	100.00%	100.00%
Gross Premiums Written | Contract Concentration Risk
Revenue, Major Customer [Line Items]
Concentration risk, percentage	100.00%	100.00%
Gross Premiums Written | Contract Concentration Risk | Largest contract
Revenue, Major Customer [Line Items]
Concentration risk, percentage	24.20%	36.90%
Gross Premiums Written | Contract Concentration Risk | Second largest contract
Revenue, Major Customer [Line Items]
Concentration risk, percentage		12.90%
Gross Premiums Written | Contract Concentration Risk | Third largest contract
Revenue, Major Customer [Line Items]
Concentration risk, percentage		11.50%
Gross Premiums Written | Contract Concentration Risk | Total for contracts contributing greater than 10% each
Revenue, Major Customer [Line Items]
Concentration risk, percentage	24.20%	61.30%
Gross Premiums Written | Contract Concentration Risk | Total for contracts contributing less than 10% each
Revenue, Major Customer [Line Items]
Concentration risk, percentage	75.80%	38.70%
Property and Casualty Reinsurance | Property Reinsurance [Member]
Revenue, Major Customer [Line Items]
Assumed Premiums Written	$ 369	$ 12
Gross Premiums As Percentage Of Total Gross Premiums	0.10%	0.00%
Property and Casualty Reinsurance | Casualty
Revenue, Major Customer [Line Items]
Assumed Premiums Written	$ 153,220	$ 87,205
Gross Premiums As Percentage Of Total Gross Premiums	40.50%	59.60%
Property and Casualty Reinsurance | Specialty
Revenue, Major Customer [Line Items]
Assumed Premiums Written	$ 224,771	$ 59,137
Gross Premiums As Percentage Of Total Gross Premiums	59.40%	40.40%
Property and Casualty Reinsurance | Prospective Reinsurance Contract [Member]
Revenue, Major Customer [Line Items]
Assumed Premiums Written	$ 378,360	$ 146,354
Gross Premiums As Percentage Of Total Gross Premiums	100.00%	100.00%
Property and Casualty Reinsurance | Retroactive Reinsurance Contract [Member]
Revenue, Major Customer [Line Items]
Assumed Premiums Written	$ 0	$ 0
Gross Premiums As Percentage Of Total Gross Premiums	0.00%	0.00%

Segment reporting - Customer Co

Segment reporting - Customer Concentration (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue, Major Customer [Line Items]
Gross premiums written	$ 378,360	$ 146,354
Gross Premiums Written
Revenue, Major Customer [Line Items]
Gross premiums written	$ 378,360	$ 146,354
Concentration risk, percentage	100.00%	100.00%
Gross Premiums Written | Customer Concentration Risk
Revenue, Major Customer [Line Items]
Gross premiums written	$ 378,360	$ 146,354
Concentration risk, percentage	100.00%	100.00%
Gross Premiums Written | Customer Concentration Risk | Largest broker
Revenue, Major Customer [Line Items]
Gross premiums written	$ 169,261	$ 67,689
Concentration risk, percentage	44.70%	46.30%
Gross Premiums Written | Customer Concentration Risk | Second largest broker
Revenue, Major Customer [Line Items]
Gross premiums written	$ 139,555	$ 24,149
Concentration risk, percentage	36.90%	16.50%
Gross Premiums Written | Customer Concentration Risk | Third largest broker
Revenue, Major Customer [Line Items]
Gross premiums written		$ 16,029
Concentration risk, percentage		11.00%
Gross Premiums Written | Customer Concentration Risk | Other
Revenue, Major Customer [Line Items]
Gross premiums written	$ 69,544	$ 38,487
Concentration risk, percentage	18.40%	26.20%

Segment reporting - Geographic

Segment reporting - Geographic information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue from External Customer [Line Items]
Gross premiums written	$ 378,360	$ 146,354
Gross Premiums Written
Revenue from External Customer [Line Items]
Gross premiums written	$ 378,360	$ 146,354
Concentration risk, percentage	100.00%	100.00%
Gross Premiums Written | United States
Revenue from External Customer [Line Items]
Gross premiums written	$ 232,871	$ 42,430
Concentration risk, percentage	61.60%	29.00%
Gross Premiums Written | United Kingdom
Revenue from External Customer [Line Items]
Gross premiums written	$ 51,985	$ 49,849
Concentration risk, percentage	13.70%	34.10%
Gross Premiums Written | Bermuda
Revenue from External Customer [Line Items]
Gross premiums written	$ 70,353	$ 54,075
Concentration risk, percentage	18.60%	36.90%
Gross Premiums Written | Other Geographical Location [Member]
Revenue from External Customer [Line Items]
Gross premiums written	$ 23,151	$ 0
Concentration risk, percentage	6.10%	0.00%

Supplemental Guarantor Inform92

Supplemental Guarantor Information - Condensed Consolidating Balance Sheet (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Condensed Balance Sheet Statements, Captions [Line Items]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 549,583,000	$ 549,333,000	$ 346,642,000	$ 308,891,000
Assets
Equity securities, trading, at fair value (cost - $1,786,551; 2017 - $1,868,735)	2,133,170,000	2,283,050,000
Debt securities	635,322,000	675,158,000
Other investments, at fair value	43,109,000	37,731,000
Total investments in securities	2,811,601,000	2,995,939,000
Cash and cash equivalents	6,410,000	8,197,000
Restricted cash and cash equivalents	543,173,000	541,136,000
Investment in subsidiaries	0	0
Due from brokers	318,703,000	305,093,000
Derivative assets, at fair value	54,114,000	73,372,000
Interest and dividends receivable	4,167,000	3,774,000
Reinsurance balances receivable	684,897,000	476,008,000
Deferred acquisition costs, net	308,903,000	258,793,000
Prepaid Reinsurance Premiums	15,061,000	1,049,000
Loss and loss adjustment expenses recoverable	1,332,000	1,113,000	52,000	1,000
Amounts due from (to) affiliates	0	0
Other assets	7,872,000	7,320,000
Total assets	4,756,233,000	4,671,794,000
Accounts payable and accrued expenses	11,273,000	34,632,000
Liabilities
Reinsurance balances payable	50,799,000	41,614,000
Deposit liabilities	129,957,000	129,133,000		104,905,000
Unearned premium reserves	884,758,000	649,518,000
Loss and loss adjustment expense reserves	761,631,000	720,570,000
Securities sold, not yet purchased, at fair value	355,447,000	394,278,000
Securities sold under an agreement to repurchase	19,067,000	29,618,000
Due to brokers	792,633,000	770,205,000
Derivative liabilities, at fair value	14,510,000	14,503,000
Due to Related Parties	(20,000)	0
Interest and dividends payable	3,049,000	4,275,000
Senior notes payable, net of deferred costs	113,777,000	113,733,000
Total liabilities	3,136,921,000	2,902,079,000
Redeemable Noncontrolling Interest, Equity, Carrying Amount	6,801,000	108,219,000
Shareholders’ equity
Common shares	10,224,000	10,723,000
Treasury Stock, Value	0	(48,253,000)
Additional paid-in capital	1,029,179,000	1,099,599,000
Retained earnings	568,019,000	594,020,000
Shareholders’ equity attributable to Third Point Re common shareholders	1,607,422,000	1,656,089,000	1,501,681,000
Noncontrolling interests in related party	5,089,000	5,407,000
Total shareholders’ equity	1,612,511,000	1,661,496,000	1,518,530,000
Total liabilities, noncontrolling interests and shareholders’ equity	4,756,233,000	4,671,794,000
Eliminations
Condensed Balance Sheet Statements, Captions [Line Items]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	0	0	0	0
Assets
Equity securities, trading, at fair value (cost - $1,786,551; 2017 - $1,868,735)	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
Restricted cash and cash equivalents	0	0
Investment in subsidiaries	(2,072,151,000)	(2,096,648,000)
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
Prepaid Reinsurance Premiums	0	0
Loss and loss adjustment expenses recoverable	0	0
Amounts due from (to) affiliates	0	0
Other assets	0	0
Total assets	(2,072,151,000)	(2,096,648,000)
Accounts payable and accrued expenses	0	0
Liabilities
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	0
Due to brokers	0	0
Derivative liabilities, at fair value	0	0
Due to Related Parties	0
Interest and dividends payable	0	0
Senior notes payable, net of deferred costs	0	0
Total liabilities	0	0
Redeemable Noncontrolling Interest, Equity, Carrying Amount	0	0
Shareholders’ equity
Common shares	(1,239,000)	(1,250,000)
Treasury Stock, Value		0
Additional paid-in capital	(1,698,366,000)	(1,696,867,000)
Retained earnings	(372,546,000)	(398,531,000)
Shareholders’ equity attributable to Third Point Re common shareholders	(2,072,151,000)	(2,096,648,000)
Noncontrolling interests in related party	0	0
Total shareholders’ equity	(2,072,151,000)	(2,096,648,000)
Total liabilities, noncontrolling interests and shareholders’ equity	(2,072,151,000)	(2,096,648,000)
Parent Guarantor | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	1,000	9,000	60,000	1,629,000
Assets
Equity securities, trading, at fair value (cost - $1,786,551; 2017 - $1,868,735)	0	0
Debt securities	0	0
Other investments, at fair value	0	0
Total investments in securities	0	0
Cash and cash equivalents	1,000	9,000
Restricted cash and cash equivalents	0	0
Investment in subsidiaries	1,634,213,000	1,657,467,000
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
Prepaid Reinsurance Premiums	0	0
Loss and loss adjustment expenses recoverable	0	0
Amounts due from (to) affiliates	(26,268,000)	(1,288,000)
Other assets	520,000	664,000
Total assets	1,608,466,000	1,656,852,000
Accounts payable and accrued expenses	1,044,000	763,000
Liabilities
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	0
Due to brokers	0	0
Derivative liabilities, at fair value	0	0
Due to Related Parties	0
Interest and dividends payable	0	0
Senior notes payable, net of deferred costs	0	0
Total liabilities	1,044,000	763,000
Redeemable Noncontrolling Interest, Equity, Carrying Amount	0	0
Shareholders’ equity
Common shares	10,224,000	10,723,000
Treasury Stock, Value		(48,253,000)
Additional paid-in capital	1,029,179,000	1,099,599,000
Retained earnings	568,019,000	594,020,000
Shareholders’ equity attributable to Third Point Re common shareholders	1,607,422,000	1,656,089,000
Noncontrolling interests in related party	0	0
Total shareholders’ equity	1,607,422,000	1,656,089,000
Total liabilities, noncontrolling interests and shareholders’ equity	1,608,466,000	1,656,852,000
Subsidiary Issuer [Member] | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	198,000	199,000	80,000	79,000
Assets
Equity securities, trading, at fair value (cost - $1,786,551; 2017 - $1,868,735)	0	0
Debt securities	0	0
Other investments, at fair value	0	0
Total investments in securities	0	0
Cash and cash equivalents	198,000	199,000
Restricted cash and cash equivalents	0	0
Investment in subsidiaries	272,856,000	274,272,000
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
Prepaid Reinsurance Premiums	0	0
Loss and loss adjustment expenses recoverable	0	0
Amounts due from (to) affiliates	(3,623,000)	412,000
Other assets	0	0
Total assets	269,431,000	274,883,000
Accounts payable and accrued expenses	(9,240,000)	(8,805,000)
Liabilities
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	0
Due to brokers	0	0
Derivative liabilities, at fair value	0	0
Due to Related Parties	0
Interest and dividends payable	1,015,000	3,055,000
Senior notes payable, net of deferred costs	113,777,000	113,733,000
Total liabilities	105,552,000	107,983,000
Redeemable Noncontrolling Interest, Equity, Carrying Amount	0	0
Shareholders’ equity
Common shares	0	0
Treasury Stock, Value		0
Additional paid-in capital	165,290,000	165,097,000
Retained earnings	(1,411,000)	1,803,000
Shareholders’ equity attributable to Third Point Re common shareholders	163,879,000	166,900,000
Noncontrolling interests in related party	0	0
Total shareholders’ equity	163,879,000	166,900,000
Total liabilities, noncontrolling interests and shareholders’ equity	269,431,000	274,883,000
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	549,384,000	549,125,000	$ 346,502,000	$ 307,183,000
Assets
Equity securities, trading, at fair value (cost - $1,786,551; 2017 - $1,868,735)	2,133,170,000	2,283,050,000
Debt securities	635,322,000	675,158,000
Other investments, at fair value	43,109,000	37,731,000
Total investments in securities	2,811,601,000	2,995,939,000
Cash and cash equivalents	6,211,000	7,989,000
Restricted cash and cash equivalents	543,173,000	541,136,000
Investment in subsidiaries	165,082,000	164,909,000
Due from brokers	318,703,000	305,093,000
Derivative assets, at fair value	54,114,000	73,372,000
Interest and dividends receivable	4,167,000	3,774,000
Reinsurance balances receivable	684,897,000	476,008,000
Deferred acquisition costs, net	308,903,000	258,793,000
Prepaid Reinsurance Premiums	15,061,000	1,049,000
Loss and loss adjustment expenses recoverable	1,332,000	1,113,000
Amounts due from (to) affiliates	29,891,000	876,000
Other assets	7,352,000	6,656,000
Total assets	4,950,487,000	4,836,707,000
Accounts payable and accrued expenses	19,469,000	42,674,000
Liabilities
Reinsurance balances payable	50,799,000	41,614,000
Deposit liabilities	129,957,000	129,133,000
Unearned premium reserves	884,758,000	649,518,000
Loss and loss adjustment expense reserves	761,631,000	720,570,000
Securities sold, not yet purchased, at fair value	355,447,000	394,278,000
Securities sold under an agreement to repurchase	19,067,000	29,618,000
Due to brokers	792,633,000	770,205,000
Derivative liabilities, at fair value	14,510,000	14,503,000
Due to Related Parties	(20,000)
Interest and dividends payable	2,034,000	1,220,000
Senior notes payable, net of deferred costs	0	0
Total liabilities	3,030,325,000	2,793,333,000
Redeemable Noncontrolling Interest, Equity, Carrying Amount		108,219,000
Shareholders’ equity
Common shares	1,239,000	1,250,000
Treasury Stock, Value		0
Additional paid-in capital	1,533,076,000	1,531,770,000
Retained earnings	373,957,000	396,728,000
Shareholders’ equity attributable to Third Point Re common shareholders	1,908,272,000	1,929,748,000
Noncontrolling interests in related party	5,089,000	5,407,000
Total shareholders’ equity	1,913,361,000	1,935,155,000
Total liabilities, noncontrolling interests and shareholders’ equity	4,950,487,000	$ 4,836,707,000
Financial Guarantee | Subsidiary Issuer [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Debt obligation	115,000,000
Third Point Re USA
Shareholders’ equity
Deferred Tax Liabilities, Gross	$ 9,600,000

Supplemental Guarantor Inform93

Supplemental Guarantor Information - Condensed Consolidating Statement of Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues
Gross premiums written	$ 378,360	$ 146,354
Gross premiums ceded	(14,646)	(1,125)
Net premiums written	363,714	145,229
Change in net unearned premium reserves	(221,228)	(7,220)
Net premiums earned	142,486	138,009
Net investment income	(2,208)	128,510
Equity in losses of subsidiaries	0	0
Total revenues	140,278	266,519
Expenses
Loss and loss adjustment expenses incurred, net	92,620	85,895
Acquisition costs, net	51,405	54,452
General and administrative expenses	9,481	10,572
Other expenses	3,995	2,901
Interest expense	2,029	2,026
Foreign exchange gain (loss)	6,611	15
Total expenses	166,141	155,861
Income (loss) before income tax expense	(25,863)	110,658
Income tax expense	(128)	(5,298)
Net income (loss)	(25,991)	105,360
Net income attributable to noncontrolling interests in related party	(10)	(1,174)
Net income (loss) available to Third Point Re common shareholders	(26,001)	104,186
Eliminations
Revenues
Gross premiums written	0	0
Gross premiums ceded	0	0
Net premiums written	0	0
Change in net unearned premium reserves	0	0
Net premiums earned	0	0
Net investment income	0	0
Equity in losses of subsidiaries	25,985	(114,364)
Total revenues	25,985	(114,364)
Expenses
Loss and loss adjustment expenses incurred, net	0	0
Acquisition costs, net	0	0
General and administrative expenses	0	0
Other expenses	0	0
Interest expense	0	0
Foreign exchange gain (loss)	0	0
Total expenses	0	0
Income (loss) before income tax expense	25,985	(114,364)
Income tax expense	0	0
Net income (loss)	25,985	(114,364)
Net income attributable to noncontrolling interests in related party	0	0
Net income (loss) available to Third Point Re common shareholders	25,985	(114,364)
Parent Guarantor | Reportable Legal Entities
Revenues
Gross premiums written	0	0
Gross premiums ceded	0	0
Net premiums written	0	0
Change in net unearned premium reserves	0	0
Net premiums earned	0	0
Net investment income	0	0
Equity in losses of subsidiaries	(24,358)	105,370
Total revenues	(24,358)	105,370
Expenses
Loss and loss adjustment expenses incurred, net	0	0
Acquisition costs, net	0	0
General and administrative expenses	1,643	1,184
Other expenses	0	0
Interest expense	0	0
Foreign exchange gain (loss)	0	0
Total expenses	1,643	1,184
Income (loss) before income tax expense	(26,001)	104,186
Income tax expense	0	0
Net income (loss)	(26,001)	104,186
Net income attributable to noncontrolling interests in related party	0	0
Net income (loss) available to Third Point Re common shareholders	(26,001)	104,186
Issuer of Debt | Reportable Legal Entities
Revenues
Gross premiums written	0	0
Gross premiums ceded	0	0
Net premiums written	0	0
Change in net unearned premium reserves	0	0
Net premiums earned	0	0
Net investment income	0	0
Equity in losses of subsidiaries	(1,609)	8,989
Total revenues	(1,609)	8,989
Expenses
Loss and loss adjustment expenses incurred, net	0	0
Acquisition costs, net	0	0
General and administrative expenses	3	8
Other expenses	0	0
Interest expense	2,029	2,026
Foreign exchange gain (loss)	0	0
Total expenses	2,032	2,034
Income (loss) before income tax expense	(3,641)	6,955
Income tax expense	427	712
Net income (loss)	(3,214)	7,667
Net income attributable to noncontrolling interests in related party	0	0
Net income (loss) available to Third Point Re common shareholders	(3,214)	7,667
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities
Revenues
Gross premiums written	378,360	146,354
Gross premiums ceded	(14,646)	(1,125)
Net premiums written	363,714	145,229
Change in net unearned premium reserves	(221,228)	(7,220)
Net premiums earned	142,486	138,009
Net investment income	(2,208)	128,510
Equity in losses of subsidiaries	(18)	5
Total revenues	140,260	266,524
Expenses
Loss and loss adjustment expenses incurred, net	92,620	85,895
Acquisition costs, net	51,405	54,452
General and administrative expenses	7,835	9,380
Other expenses	3,995	2,901
Interest expense	0	0
Foreign exchange gain (loss)	6,611	15
Total expenses	162,466	152,643
Income (loss) before income tax expense	(22,206)	113,881
Income tax expense	(555)	(6,010)
Net income (loss)	(22,761)	107,871
Net income attributable to noncontrolling interests in related party	(10)	(1,174)
Net income (loss) available to Third Point Re common shareholders	$ (22,771)	$ 106,697

Supplemental Guarantor Inform94

Supplemental Guarantor Information - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net income (loss)	$ (25,991)	$ 105,360
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Equity in earnings of subsidiaries	0	0
Share compensation expense	1,245	1,830
Net interest expense on deposit liabilities	1,261	409
Net unrealized (gain) loss on investments and derivatives	62,940	(95,703)
Net realized gain on investments and derivatives	(65,770)	(61,028)
Foreign exchange gain (loss)	6,611	15
Amortization of premium and accretion of discount, net	2,622	(665)
Changes in assets and liabilities:
Reinsurance balances receivable	(208,414)	(37,281)
Deferred acquisition costs, net	(50,110)	864
Increase (Decrease) in Prepaid Reinsurance Premiums	(14,012)	(946)
Increase (Decrease) in Reinsurance Recoverable	(219)	(51)
Other assets	(559)	4,072
Interest and dividends receivable, net	(1,619)	(2,580)
Unearned premium reserves	235,240	8,167
Loss and loss adjustment expense reserves	(34,392)	(18,798)
Accounts payable and accrued expenses	(23,382)	1,179
Reinsurance balances payable	9,025	8,051
Performance fees payable to related party	20	30,857
Increase (Decrease) in Due to Affiliates	0	0
Net cash used in operating activities	(36,720)	(18,652)
Investing activities
Purchases of investments	(1,032,890)	(613,020)
Proceeds from sales of investments	1,221,157	940,797
Purchases of investments to cover short sales	(300,467)	(120,014)
Proceeds from short sales of investments	277,174	232,856
Change in due to/from brokers, net	8,818	(362,792)
Increase (decrease) in securities sold under an agreement to repurchase	(10,551)	16,524
Net cash provided by investing activities	163,241	94,351
Financing activities
Proceeds from issuance of Third Point Re common shares, net of costs	0	498
Taxes paid on withholding shares	(74)	0
Purchases of Third Point Re common shares under share repurchase program	(23,837)	(18,884)
Increase (decrease) in deposit liabilities, net	(614)	437
Change in total noncontrolling interests in related party, net	(101,746)	(19,999)
Dividend received by (paid to) parent		0
Net cash used in financing activities	(126,271)	(37,948)
Net increase (decrease) in cash and cash equivalents	250	37,751
Cash, cash equivalents and restricted cash at beginning of period	549,333	308,891
Eliminations
Operating activities
Net income (loss)	25,985	(114,364)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Equity in earnings of subsidiaries	(25,985)	114,364
Share compensation expense	0	0
Net interest expense on deposit liabilities	0	0
Net unrealized (gain) loss on investments and derivatives	0	0
Net realized gain on investments and derivatives	0	0
Foreign exchange gain (loss)	0	0
Amortization of premium and accretion of discount, net	0	0
Changes in assets and liabilities:
Reinsurance balances receivable	0	0
Deferred acquisition costs, net	0	0
Increase (Decrease) in Prepaid Reinsurance Premiums	0	0
Increase (Decrease) in Reinsurance Recoverable	0	0
Other assets	0	0
Interest and dividends receivable, net	0	0
Unearned premium reserves	0	0
Loss and loss adjustment expense reserves	0	0
Accounts payable and accrued expenses	0	0
Reinsurance balances payable	0	0
Performance fees payable to related party	0	0
Increase (Decrease) in Due to Affiliates	0	0
Net cash used in operating activities	0	0
Investing activities
Purchases of investments	0	0
Proceeds from sales of investments	0	0
Purchases of investments to cover short sales	0	0
Proceeds from short sales of investments	0	0
Change in due to/from brokers, net	0	0
Increase (decrease) in securities sold under an agreement to repurchase	0	0
Net cash provided by investing activities	0	0
Financing activities
Proceeds from issuance of Third Point Re common shares, net of costs		0
Taxes paid on withholding shares	0
Purchases of Third Point Re common shares under share repurchase program	0	0
Increase (decrease) in deposit liabilities, net	0	0
Change in total noncontrolling interests in related party, net	0	0
Dividend received by (paid to) parent		0
Net cash used in financing activities	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash, cash equivalents and restricted cash at beginning of period	0	0
Parent Company [Member] | Reportable Legal Entities
Operating activities
Net income (loss)	(26,001)	104,186
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Equity in earnings of subsidiaries	24,358	(105,370)
Share compensation expense	141	0
Net interest expense on deposit liabilities	0	0
Net unrealized (gain) loss on investments and derivatives	0	0
Net realized gain on investments and derivatives	0	0
Foreign exchange gain (loss)	0	0
Amortization of premium and accretion of discount, net	0	0
Changes in assets and liabilities:
Reinsurance balances receivable	0	0
Deferred acquisition costs, net	0	0
Increase (Decrease) in Prepaid Reinsurance Premiums	0	0
Increase (Decrease) in Reinsurance Recoverable	0	0
Other assets	144	144
Interest and dividends receivable, net	0	0
Unearned premium reserves	0	0
Loss and loss adjustment expense reserves	0	0
Accounts payable and accrued expenses	281	80
Reinsurance balances payable	0	0
Performance fees payable to related party	0	0
Increase (Decrease) in Due to Affiliates	24,980	17,777
Net cash used in operating activities	23,903	16,817
Investing activities
Purchases of investments	0	0
Proceeds from sales of investments	0	0
Purchases of investments to cover short sales	0	0
Proceeds from short sales of investments	0	0
Change in due to/from brokers, net	0	0
Increase (decrease) in securities sold under an agreement to repurchase	0	0
Net cash provided by investing activities	0	0
Financing activities
Proceeds from issuance of Third Point Re common shares, net of costs		498
Taxes paid on withholding shares	(74)
Purchases of Third Point Re common shares under share repurchase program	(23,837)	(18,884)
Increase (decrease) in deposit liabilities, net	0	0
Change in total noncontrolling interests in related party, net	0	0
Dividend received by (paid to) parent		0
Net cash used in financing activities	(23,911)	(18,386)
Net increase (decrease) in cash and cash equivalents	(8)	(1,569)
Cash, cash equivalents and restricted cash at beginning of period	9	1,629
Subsidiary Issuer [Member] | Reportable Legal Entities
Operating activities
Net income (loss)	(3,214)	7,667
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Equity in earnings of subsidiaries	1,609	(8,989)
Share compensation expense	0	0
Net interest expense on deposit liabilities	0	0
Net unrealized (gain) loss on investments and derivatives	0	0
Net realized gain on investments and derivatives	0	0
Foreign exchange gain (loss)	0	0
Amortization of premium and accretion of discount, net	44	44
Changes in assets and liabilities:
Reinsurance balances receivable	0	0
Deferred acquisition costs, net	0	0
Increase (Decrease) in Prepaid Reinsurance Premiums	0	0
Increase (Decrease) in Reinsurance Recoverable	0	0
Other assets	0	(713)
Interest and dividends receivable, net	(2,040)	(2,042)
Unearned premium reserves	0	0
Loss and loss adjustment expense reserves	0	0
Accounts payable and accrued expenses	(435)	0
Reinsurance balances payable	0	0
Performance fees payable to related party	0	0
Increase (Decrease) in Due to Affiliates	4,035	(4,266)
Net cash used in operating activities	(1)	(8,299)
Investing activities
Purchases of investments	0	0
Proceeds from sales of investments	0	0
Purchases of investments to cover short sales	0	0
Proceeds from short sales of investments	0	0
Change in due to/from brokers, net	0	0
Increase (decrease) in securities sold under an agreement to repurchase	0	0
Net cash provided by investing activities	0	0
Financing activities
Proceeds from issuance of Third Point Re common shares, net of costs		0
Taxes paid on withholding shares	0
Purchases of Third Point Re common shares under share repurchase program	0	0
Increase (decrease) in deposit liabilities, net	0	0
Change in total noncontrolling interests in related party, net	0	0
Dividend received by (paid to) parent		8,300
Net cash used in financing activities	0	8,300
Net increase (decrease) in cash and cash equivalents	(1)	1
Cash, cash equivalents and restricted cash at beginning of period	199	79
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities
Operating activities
Net income (loss)	(22,761)	107,871
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Equity in earnings of subsidiaries	18	(5)
Share compensation expense	1,104	1,830
Net interest expense on deposit liabilities	1,261	409
Net unrealized (gain) loss on investments and derivatives	62,940	(95,703)
Net realized gain on investments and derivatives	(65,770)	(61,028)
Foreign exchange gain (loss)	6,611	15
Amortization of premium and accretion of discount, net	2,578	(709)
Changes in assets and liabilities:
Reinsurance balances receivable	(208,414)	(37,281)
Deferred acquisition costs, net	(50,110)	864
Increase (Decrease) in Prepaid Reinsurance Premiums	(14,012)	(946)
Increase (Decrease) in Reinsurance Recoverable	(219)	(51)
Other assets	(703)	4,641
Interest and dividends receivable, net	421	(538)
Unearned premium reserves	235,240	8,167
Loss and loss adjustment expense reserves	(34,392)	(18,798)
Accounts payable and accrued expenses	(23,228)	1,099
Reinsurance balances payable	9,025	8,051
Performance fees payable to related party	20	30,857
Increase (Decrease) in Due to Affiliates	(29,015)	(13,511)
Net cash used in operating activities	(60,622)	(27,170)
Investing activities
Purchases of investments	(1,032,890)	(613,020)
Proceeds from sales of investments	1,221,157	940,797
Purchases of investments to cover short sales	(300,467)	(120,014)
Proceeds from short sales of investments	277,174	232,856
Change in due to/from brokers, net	8,818	(362,792)
Increase (decrease) in securities sold under an agreement to repurchase	(10,551)	16,524
Net cash provided by investing activities	163,241	94,351
Financing activities
Proceeds from issuance of Third Point Re common shares, net of costs		0
Taxes paid on withholding shares	0
Purchases of Third Point Re common shares under share repurchase program	0	0
Increase (decrease) in deposit liabilities, net	(614)	437
Change in total noncontrolling interests in related party, net	(101,746)	(19,999)
Dividend received by (paid to) parent		(8,300)
Net cash used in financing activities	(102,360)	(27,862)
Net increase (decrease) in cash and cash equivalents	259	39,319
Cash, cash equivalents and restricted cash at beginning of period	$ 549,125	$ 307,183