SiriusPoint (SPNT) 10-Q 6 Nov 18 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 02, 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	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		94,169,725

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Assets
Investment in related party investment fund, at fair value (cost - $1,629,850; 2017 - N/A) (1)	$ 1,627,924	$ 0
Equity securities, trading, at fair value (cost - N/A; 2017 - $1,868,735)	0	2,283,050
Debt securities, trading, at fair value (cost - $258,430; 2017 - $711,322)	244,876	675,158
Other investments, at fair value	196	37,731
Total investments in securities	1,872,996	2,995,939
Cash and cash equivalents	49,786	8,197
Restricted cash and cash equivalents	581,134	541,136
Subscription receivable from related party investment fund	30,000	0
Due from brokers	12,853	305,093
Derivative assets, at fair value	0	73,372
Interest and dividends receivable	1,975	3,774
Reinsurance balances receivable	577,382	476,008
Deferred acquisition costs, net	231,286	258,793
Unearned premiums ceded	16,772	1,049
Loss and loss adjustment expenses recoverable	1,576	1,113
Other assets	13,082	7,320
Total assets	3,388,842	4,671,794
Liabilities
Accounts payable and accrued expenses	9,200	34,632
Reinsurance balances payable	71,070	41,614
Deposit liabilities	146,961	129,133
Unearned premium reserves	693,333	649,518
Loss and loss adjustment expense reserves	822,180	720,570
Securities sold, not yet purchased, at fair value	0	394,278
Securities sold under an agreement to repurchase	0	29,618
Due to brokers	16	770,205
Derivative liabilities, at fair value	0	14,503
Participation agreement with related party investment fund	23,149	0
Interest and dividends payable	1,157	4,275
Senior notes payable, net of deferred costs	113,866	113,733
Total liabilities	1,880,932	2,902,079
Commitments and contingent liabilities
Redeemable noncontrolling interests in related party	0	108,219
Shareholders’ equity
Preference shares (par value $0.10; authorized, 30,000,000; none issued)	0	0
Common shares (Issued: 2018 - 94,169,725; 2017 - 107,227,347; Outstanding: 2018 - 94,169,725; 2017 - 103,282,427)	9,417	10,723
Treasury Stock, Value	0	(48,253)
Additional paid-in capital	924,153	1,099,599
Retained earnings	574,340	594,020
Shareholders’ equity attributable to Third Point Re common shareholders	1,507,910	1,656,089
Noncontrolling interests in related party	0	5,407
Total shareholders’ equity	1,507,910	1,661,496
Total liabilities, noncontrolling interests and shareholders’ equity	$ 3,388,842	$ 4,671,794

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Assets
Investment in related party investment fund, cost	$ 1,629,850	$ 0
Equity securities, trading, cost	0	1,868,735
Debt securities, trading, cost	$ 258,430	$ 711,322
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)	94,169,725	107,227,347
Common share, shares outstanding (in shares)	94,169,725	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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues
Gross premiums written	$ 30,064	$ 174,539	$ 458,189	$ 477,457
Gross premiums ceded	0	0	(18,125)	(2,550)
Net premiums written	30,064	174,539	440,064	474,907
Change in net unearned premium reserves	97,929	(68,564)	(28,092)	(57,365)
Net premiums earned	127,993	105,975	411,972	417,542
Net investment loss from investment in related party investment fund (1)	(1,926)	0	(1,926)	0
Net investment income before management and performance fees to related parties	3,641	119,516	57,148	427,982
Management and performance fees to related parties	(5,305)	(30,548)	(29,845)	(103,179)
Net investment income (loss)	(3,590)	88,968	25,377	324,803
Total revenues	124,403	194,943	437,349	742,345
Expenses
Loss and loss adjustment expenses incurred, net	88,706	77,275	265,326	270,549
Acquisition costs, net	40,841	33,974	149,830	157,067
General and administrative expenses	9,511	13,218	28,688	38,804
Other (income) expense	(1,362)	3,846	6,616	8,852
Interest expense	2,074	2,074	6,154	6,151
Foreign exchange (gains) losses	(1,979)	5,437	(4,215)	10,233
Total expenses	137,791	135,824	452,399	491,656
Income (loss) before income tax (expense) benefit	(13,388)	59,119	(15,050)	250,689
Income tax (expense) benefit	111	(3,475)	(4,407)	(14,080)
Net income (loss)	(13,277)	55,644	(19,457)	236,609
Net income attributable to noncontrolling interests in related party	(4)	(959)	(223)	(3,160)
Net income (loss) available to Third Point Re common shareholders	$ (13,281)	$ 54,685	$ (19,680)	$ 233,449
Earnings (loss) per share available to Third Point Re common shareholders
Basic earnings (loss) per share available to Third Point Re common share holders (in dollars per share)	$ (0.14)	$ 0.54	$ (0.20)	$ 2.27
Diluted earnings (loss) per share available to Third Point Re common share holders (in dollars per share)	$ (0.14)	$ 0.52	$ (0.20)	$ 2.22
Weighted average number of common shares used in the determination of earnings (loss) per share
Basic (in shares)	95,671,385	101,391,145	98,768,442	102,553,346
Diluted (in shares)	95,671,385	104,679,574	98,768,442	105,040,251

Condensed Consolidated Statem_2

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		88		1,416
Common shares repurchased and retired		0		0
Repurchase of common shares			$ (40,864)
Retirement of treasury shares	0		0
Share compensation expense				4,014
Net income (loss)	$ 236,609				236,609
Net income attributable to noncontrolling interests in related party	(3,160)				(3,160)
Balance. end of period at Sep. 30, 2017	1,617,395	10,738	$ (48,253)	1,099,998	549,671	$ 5,241
Balance, beginning of period at Jun. 30, 2017		10,733	(48,253)	1,098,857	494,986
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, net		5		501
Common shares repurchased and retired		0		0
Repurchase of common shares			$ 0
Retirement of treasury shares			0
Share compensation expense				640
Net income (loss)	55,644				55,644
Net income attributable to noncontrolling interests in related party	(959)				(959)
Balance. end of period at Sep. 30, 2017	1,617,395	10,738	$ (48,253)	1,099,998	549,671	5,241
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shareholders’ equity attributable to Third Point Re common shareholders	1,612,154
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		67		(142)
Common shares repurchased and retired		(1,373)		(180,260)
Repurchase of common shares			$ 0
Retirement of treasury shares	13,730,258		48,253,000
Share compensation expense				4,956
Net income (loss)	$ (19,457)				(19,457)
Net income attributable to noncontrolling interests in related party	(223)
Balance. end of period at Sep. 30, 2018	1,507,910	9,417	$ 0	924,153	574,340	0
Balance, beginning of period at Jun. 30, 2018		9,963	0	994,170	587,621
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, net		0		(1)
Common shares repurchased and retired		(546)		(72,414)
Repurchase of common shares			$ 0
Retirement of treasury shares			0
Share compensation expense				2,398
Net income (loss)	(13,277)				(13,277)
Net income attributable to noncontrolling interests in related party	(4)
Balance. end of period at Sep. 30, 2018	1,507,910	$ 9,417	$ 0	$ 924,153	$ 574,340	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shareholders’ equity attributable to Third Point Re common shareholders	$ 1,507,910

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Statement of Cash Flows [Abstract]
Net income (loss)	$ (19,457)	$ 236,609
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Share compensation expense	4,956	4,014
Net interest (income) expense on deposit liabilities	(1,609)	1,472
Net realized and unrealized gain on investments and derivatives	(32,373)	(383,681)
Net Realized and Unrealized Gain (Loss) on Trading Securities, related party investment fund	(1,926)	0
Net foreign exchange (gains) losses	(4,215)	10,233
Amortization of premium and accretion of discount, net	2,674	(452)
Changes in assets and liabilities:
Reinsurance balances receivable	(87,911)	(77,444)
Deferred acquisition costs, net	27,507	(1,473)
Unearned premiums ceded	(15,723)	(934)
Loss and loss adjustment expenses recoverable	(463)	(1,586)
Other assets	(5,757)	8,218
Interest and dividends receivable, net	(5,273)	769
Unearned premium reserves	43,815	58,299
Loss and loss adjustment expense reserves	(107,325)	(78,931)
Accounts payable and accrued expenses	(22,761)	14,173
Reinsurance balances payable	29,624	11,462
Performance fee payable to related party	0	73,210
Net cash provided by operating activities	22,285	31,820
Investing activities
Contributions to related party investment fund, including subscription receivable (1)	(88,658)	0
Purchases of investments	(3,235,659)	(2,238,167)
Proceeds from sales and maturities of investments	3,222,239	2,536,688
Purchases of investments to cover short sales	(853,798)	(440,242)
Proceeds from short sales of investments	800,508	735,132
Change in due to/from brokers, net	471,352	(400,566)
Decrease in securities sold under an agreement to repurchase	(29,618)	0
Net cash provided by investing activities	286,366	192,845
Financing activities
Proceeds from issuance of Third Point Re common shares, net of costs	0	1,504
Taxes paid on withholding shares	(74)	0
Purchases of Third Point Re common shares under share repurchase program	(133,380)	(40,864)
Increase in deposit liabilities, net	4,340	6,380
Change in total noncontrolling interests in related party, net	(97,950)	(16,780)
Net cash used in financing activities	(227,064)	(49,760)
Net increase in cash, cash equivalents and restricted cash	81,587	174,905
Cash, cash equivalents and restricted cash at beginning of period	549,333	308,891
Cash, cash equivalents and restricted cash at end of period	630,920	483,796
Supplementary information
Interest paid in cash	25,391	17,551
Income taxes paid in cash	7,026	5,996
Non-cash transfer of net investment assets to the related party investment fund (1)	$ 1,571,191	$ 0

Organization

Organization	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Third Point Reinsurance Ltd. (together with its consolidated 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 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 nine months ended September 30, 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	9 Months Ended
	Sep. 30, 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, except a newly-implemented accounting policy, as noted below. Transfer of Financial Assets The Company accounts for transfers of financial assets as sales when it has surrendered control over the related assets. Whether control has been relinquished requires, among other things, an evaluation of relevant legal considerations and an assessment of the nature and extent of the Company’s continuing involvement with the assets transferred. Gains and losses stemming from transfers reported as sales, if any, would be included as realized gains (losses) within net investment income in the accompanying condensed consolidated statements of income. In instances where a transfer of financial assets does not qualify for sale accounting, the accounting guidance requires that the transaction be accounted for as a collateralized borrowing. Accordingly, the related assets remain on the Company’s condensed consolidated balance sheets and continue to be reported and accounted for as if the transfer had not occurred. Cash proceeds from these transfers are reported as liabilities, with attributable interest expense recognized over the life of the related transactions. 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 September 30, 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 measured at fair market value as the Company's investments are classified as “trading securities” and therefore the change in unrealized gains (losses) are included in the consolidated statement of income (loss). 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 to reduce 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 nine months ended September 30, 2017 includes adjustments to increase net cash used in investing activities by $178.4 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 2017-09 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 September 30, 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 July 2018, the FASB issued Accounting Standards Update 2018-10, Codification Improvements to Topic 842, Leases (ASU 2018-10) and Accounting Standards Update 2018-11, Leases (Topic 842): Targeted improvements (ASU 2018-11). These updates make improvements to clarify or to correct unintended application of guidance in ASC 842. Those items generally are not expected to have a significant effect on the Company. ASU 2018-10 and ASU 2018-11 will be effective when the Company adopts ASU 2016-02 in 2019. 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. In August 2018, the FASB issued Accounting Standards Update 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (ASU 2018-13). ASU 2018-13 is intended to improve the effectiveness of fair value measurement disclosure requirements. The amendments are effective for interim and annual periods beginning after December 15, 2019. The Company is currently evaluating the impact of this guidance on the Company’s condensed consolidated financial statements.
Recently issued accounting standards	Recently issued accounting standards Issued and effective as of September 30, 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 measured at fair market value as the Company's investments are classified as “trading securities” and therefore the change in unrealized gains (losses) are included in the consolidated statement of income (loss). 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 to reduce 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 nine months ended September 30, 2017 includes adjustments to increase net cash used in investing activities by $178.4 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 2017-09 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 September 30, 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 July 2018, the FASB issued Accounting Standards Update 2018-10, Codification Improvements to Topic 842, Leases (ASU 2018-10) and Accounting Standards Update 2018-11, Leases (Topic 842): Targeted improvements (ASU 2018-11). These updates make improvements to clarify or to correct unintended application of guidance in ASC 842. Those items generally are not expected to have a significant effect on the Company. ASU 2018-10 and ASU 2018-11 will be effective when the Company adopts ASU 2016-02 in 2019. 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. In August 2018, the FASB issued Accounting Standards Update 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (ASU 2018-13). ASU 2018-13 is intended to improve the effectiveness of fair value measurement disclosure requirements. The amendments are effective for interim and annual periods beginning after December 15, 2019. The Company is currently evaluating the impact of this guidance on the Company’s condensed consolidated financial statements.

Restricted cash and cash equiva

Restricted cash and cash equivalents and restricted investments	9 Months Ended
	Sep. 30, 2018
Cash and Cash Equivalents [Abstract]
Restricted cash and cash equivalents and restricted investments	The following table provides a summary of cash and cash equivalents, restricted cash and restricted investments as of September 30, 2018 and December 31, 2017 : September 30, December 31, Cash and cash equivalents $ 49,786 $ 8,197 Restricted cash securing letter of credit facilities (1) 180,524 250,487 Restricted cash securing reinsurance contracts (2) 400,610 290,649 Total cash, cash equivalents and restricted cash (3) 630,920 549,333 Restricted investments securing reinsurance contracts (2) 244,876 326,429 Total cash, cash equivalents, restricted cash and restricted investments $ 875,796 $ 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	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Investments	On July 31, 2018, Third Point Re, Third Point Re BDA and Third Point Re USA entered into the Amended and Restated Exempted Limited Partnership Agreement (“LPA”) of Third Point Enhanced LP (“TP Fund”) with Third Point Advisors LLC (“TP GP”) and others, effective August 31, 2018. In accordance with the LPA, TP GP serves as the general partner of TP Fund. TP GP is beneficially owned by Daniel S. Loeb, a founder of the Company, and certain members of his family. Pursuant to an Investment Management Agreement between Third Point LLC and TP Fund dated July 31, 2018 (the “TP Fund IMA”), Third Point LLC is the investment manager for TP Fund (the “Investment Manager”). In addition, on July 31, 2018, Third Point Re BDA and Third Point Re USA, together the “TPRE Limited Partners”, and TP Fund executed a Subscription Agreement pursuant to which the TPRE Limited Partners transferred certain net investment assets and related liabilities (collectively referred to as the “LP Transaction”) from their separate accounts to TP Fund, and TP Fund issued limited partner interests to the TPRE Limited Partners proportionate to and based on the net asset value transferred by each such entity on the applicable transfer date. Certain collateral assets consisting of debt securities and restricted cash were not transferred to TP Fund but are also managed by Third Point LLC under a separate investment management agreement. Substantially all of the net investment assets were transferred as of September 4, 2018. The Amended and Restated Joint Venture and Investment Management Agreement dated June 22, 2016 between Third Point Re, Third Point Re BDA, Third Point LLC and TP GP and the Amended and Restated Joint Venture and Investment Management Agreement dated June 22, 2016 between Third Point Re USA, Third Point Re (USA) Holdings Inc., Third Point LLC and TP GP (the “ JV Agreements ”) will be terminated on the date that all net investment assets have been transferred to TP Fund under the Subscription Agreement. The TP Fund investment strategy, as implemented by Third Point LLC, is intended to achieve superior risk-adjusted returns by deploying capital in both long and short investments with favorable risk/reward characteristics across select asset classes, sectors and geographies. Third Point LLC identifies investment opportunities via a bottom-up, value-oriented approach to single security analysis supplemented by a top-down view of portfolio and risk management. Third Point LLC seeks dislocations in certain areas of the capital markets or in the pricing of particular securities and supplements single security analysis with an approach to portfolio construction that includes sizing each investment based on upside/downside calculations, all with a view towards appropriately positioning and managing overall exposures. On August 30, 2018, Third Point Re BDA and Third Point Re USA entered into a Participation Agreement (“Participation Agreement”) with TP Fund pursuant to which Third Point Re BDA and Third Point Re USA granted to TP Fund all of the rights, benefits, liabilities, duties and obligations of all net investment assets that had not yet been transferred to TP Fund pursuant to the Subscription Agreement as of the effective date. For the net investment assets that were not transferred on September 4, 2018, the TPRE Limited Partners received limited partnership interests in TP Fund in exchange for transferring the rights, benefits, liabilities, duties and obligations for those net investment assets to TP Fund under the Participation Agreement. Third Point Re BDA and Third Point Re USA are obligated to transfer any remaining net investment assets to TP Fund and a liability corresponding to the estimated fair value of net investment assets not transferred at September 30, 2018 has been recorded in the Company’s condensed consolidated balance sheet. For the period from September 4, 2018 to September 30, 2018, $2.7 million of net investment loss in the Company’s separate accounts was subject to the Participation Agreement and as a result, is included in net investment loss from investment in related party investment fund in the Company’s condensed consolidated statements of income. As of September 30, 2018, the Company had $23.1 million of net investment assets that had not been transferred to TP Fund, primarily consisting of cash and balances due from brokers. On July 31, 2018, Third Point Re BDA and Third Point Re USA entered into an investment management agreement with Third Point LLC (the “Collateral Assets IMA”), effective August 31, 2018, pursuant to which Third Point LLC serves as investment manager of certain collateral assets that will not be transferred to TP Fund. The Collateral Assets IMA will continue in effect for so long as either Third Point Re BDA or Third Point Re USA remains a limited partner of TP Fund. The collateral assets are presented in the condensed consolidated balance sheets within debt securities and restricted cash and are considered as part of total net investments managed by Third Point LLC. Prior to transferring the financial assets and liabilities from the joint ventures to the TP Fund, the Company directly owned the investments held in its separate accounts that were managed by Third Point LLC. In addition, the joint ventures created through the JV Agreements were consolidated and the Company presented all of the underlying assets and liabilities held in the Company’s name on the Company’s condensed consolidated balance sheets and relevant footnote disclosures. As a result of the changes described above, the Company’s investment in TP Fund has been presented on the condensed consolidated balance sheets as an investment in a related party investment fund. The transfer of the net investment assets was accounted for as a sale in accordance with the Company’s accounting policy for transfers of financial assets. Third Point Re BDA and Third Point Re USA received limited partnership interests in TP Fund corresponding to the fair value of the net investment assets transferred. The Company does not have continuing involvement with the transferred assets. There were no net gains or losses resulting from the transfer of net investment assets. For the three months ended September 30, 2018, $1.6 billion of net investment assets was transferred from the Company’s separate investment accounts to TP Fund in exchange for limited partnership interests of the same amount, resulting in no gains or losses. The following is a summary of the net investments managed by Third Point LLC as of September 30, 2018 and December 31, 2017 : September 30, December 31, Assets Total investments in securities, including investment in related party investment fund $ 1,872,800 $ 2,995,097 Cash and cash equivalents 10,387 8 Restricted cash and cash equivalents 581,134 541,136 Due from brokers 12,853 305,093 Derivative assets, at fair value — 73,372 Interest and dividends receivable 1,975 3,774 Total assets 2,479,149 3,918,480 Liabilities and noncontrolling interests in related party Accounts payable and accrued expenses 740 5,137 Securities sold, not yet purchased — 394,278 Securities sold under an agreement to repurchase — 29,618 Due to brokers 16 770,205 Derivative liabilities, at fair value — 14,503 Participation agreement with related party investment fund 23,149 — Interest and dividends payable 131 1,218 Total noncontrolling interests in related party (1) — 113,626 Total liabilities and noncontrolling interests in related party 24,036 1,328,585 Total net investments managed by Third Point LLC $ 2,455,113 $ 2,589,895 (1) See Note 19 for additional information.

Fair Value Measurements (Notes)

Fair Value Measurements (Notes)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Disclosures	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. Debt securities U.S. Treasury securities and sovereign debt securities are primarily priced by obtaining broker dealer quotes and other market information including actual trade volumes, when available. When evaluating these securities, the pricing services gather information from market sources and integrate other observations from markets and sector news. The fair value of each security is individually computed using analytical models which incorporate option adjusted spreads and other daily interest rate data. As the significant inputs used to price these securities are observable, the fair values of these investments are classified as Level 2. Investments in funds valued at NAV The Company values its investments in limited partnerships, including its investment in related party investment fund, at fair value. The Company has elected the practical expedient for fair value for these investments which is estimated based on the Company’s share of the net asset value (“NAV”) of the limited partnerships, as provided by the independent fund administrator. The NAV represents the Company’s proportionate interest in the members’ equity of the limited partnerships. 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. In order to assess the reasonableness of the NAVs, the Company performs a number of monitoring procedures on a monthly, quarterly and annual basis, to assess the quality of the information provided by the Investment Manager and fund administrator underlying the preparation of the NAV. These procedures include, but are not limited to, regular review and discussion of the fund’s performance with the investment manager. However, the Company often does not have access to financial information relating to the underlying securities held within the TP Fund. Therefore, management is often unable to corroborate the fair values placed on the securities underlying the asset valuations provided by the Investment Manager or fund administrator. Embedded derivatives The Company 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. As the significant inputs used to price embedded derivatives are unobservable, these are classified as level 3. The following table presents the Company’s investments, categorized by the level of the fair value hierarchy as of September 30, 2018 : September 30, 2018 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets U.S. Treasury securities $ — $ 201,319 $ — $ 201,319 Sovereign debt — 43,557 — 43,557 Total debt securities $ — $ 244,876 $ — 244,876 Investments in funds valued at NAV 1,628,120 Total assets $ 1,872,996 Liabilities Derivative liabilities (embedded) $ — $ — $ 110 $ 110 Total liabilities $ — $ — $ 110 $ 110 Prior to the change in the investment account structure described above, the Company held other types of asset classes. The following summarizes the Company’s key valuation methodologies for securities also held and separately presented on the Company’s consolidated balance sheets as of December 31, 2017: As the Company’s investment manager under the prior investment structure, Third Point LLC had a formal valuation policy that set 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 was updated and approved at least on an annual basis by Third Point LLC’s valuation committee (the “Committee”). The Committee met monthly and was comprised of officers and employees who were senior business management personnel of Third Point LLC. The Committee’s role was to review and verify the propriety and consistency of the valuation methodology to determine the fair value of investments. The Committee also reviewed any due diligence performed and approved any changes to current or potential external pricing vendors. Equity securities Securities listed on a national securities exchange or quoted on NASDAQ were valued at their last sales price as of the last business day of the period. Listed securities with no reported sales on such date and over-the-counter (“OTC”) securities were valued at their last closing bid price if held long by the Company, and last closing ask price if held short by the Company. As of December 31, 2017 , securities valued at $234.4 million , representing 7.6% of investments in securities and derivative assets, and $2.1 million , representing 0.5% of securities sold, not yet purchased and derivative liabilities, were valued based on broker quotes. As of December 31, 2017 , the Company had $83.4 million of investments fair valued by Third Point LLC, representing approximately 2.7% of total investments in securities and derivative assets. 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. Debt securities The key inputs for corporate, government and sovereign bond valuation were coupon frequency, coupon rate and underlying bond spreads. The key inputs for asset-backed securities (“ABS”) were yield, probability of default, loss severity and prepayment. Other investments Private securities, real estate and related debt investments are those not registered for public sale and were 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 included market approach, last transaction analysis, liquidation analysis and/or using discounted cash flow models where the significant inputs could include but were 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 and would provide written reports documenting their recommended valuation as of the determination date for the specified investments. Free standing derivatives The Company’s free standing derivatives were recorded at fair value, and were included in the condensed consolidated balance sheets in derivative assets and derivative liabilities. Third Point LLC valued exchange-traded derivatives at their last sales price on the exchange where they were primarily traded. OTC derivatives, which include swap, option, swaption, forward, future and contract for differences, were valued by an industry recognized third party valuation vendor when available; otherwise, fair values were obtained from broker quotes that were based on pricing models that consider the time value of money, volatility, and the current market and contractual prices of the underlying financial instruments. Key inputs for OTC valuations varied based on the type of underlying security on which the contract was written: • The key inputs for most OTC option contracts included 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 included notional, maturity, forward rate, spot rate, various interest rate curves and discount factor. • The key inputs for swap valuation varied based on the type of underlying security on which the contract was written. Generally, the key inputs for most swap contracts included notional, swap period, fixed rate, credit or interest rate curves, current market or spot price of the underlying security and the volatility of the underlying security. The following table presents the Company’s investments, categorized by the level of the fair value hierarchy as of December 31, 2017 : 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 nine months ended September 30, 2018 , the Company made $nil ( December 31, 2017 - $nil ) of reclassifications of assets or liabilities between Levels 1 and 2. The total change in unrealized gains (losses) on equity and debt securities held at the three months ended September 30, 2018 were $nil and $(1.6) million , respectively ( 2017 - $47.7 million and $(6.9) million , respectively). The total change in unrealized gains (losses) on equity and debt securities held at the nine months ended September 30, 2018 were $nil and $(6.9) million , respectively ( 2017 - $214.5 million and $(88.2) million , respectively). The following table presents the reconciliation of all investments measured at fair value using Level 3 inputs for the three and nine months ended September 30, 2018 and 2017 : July 1, Transfers in to (out of) Level 3 Purchases Sales (1) Realized and Unrealized Gains (Losses) (2) September 30, Assets Private common equity securities $ 4,362 $ — $ 533 $ (4,714 ) $ (181 ) $ — Private preferred equity securities 56,769 — 37,774 (93,666 ) (877 ) — Asset-backed securities 28,139 — 7,348 (35,515 ) 28 — Corporate bonds 9,968 — 869 (10,976 ) 139 — Rights and warrants 424 — 97 (712 ) 191 — Real estate 7,351 — — (6,664 ) (687 ) — Derivative assets (free standing) 6,886 — — (7,646 ) 760 — Total assets $ 113,899 $ — $ 46,621 $ (159,893 ) $ (627 ) $ — Liabilities Derivative liabilities (free standing) $ (1,839 ) $ — $ — $ 1,823 $ 16 $ — Derivative liabilities (embedded) (164 ) — — — 54 (110 ) Total liabilities $ (2,003 ) $ — $ — $ 1,823 $ 70 $ (110 ) January 1, Transfers in to (out of) Level 3 Purchases Sales (1) Realized and Unrealized Gains (Losses) (2) September 30, Assets Private common equity securities $ 4,794 $ — $ 567 $ (4,726 ) $ (635 ) $ — Private preferred equity securities 57,126 — 38,376 (91,065 ) (4,437 ) — Asset-backed securities 27,308 — 35,905 (60,906 ) (2,307 ) — Corporate bonds 9,868 — 1,372 (11,763 ) 523 — Other debt securities 713 — — (913 ) 200 — Rights and warrants 435 — 753 (1,380 ) 192 — Real estate 6,831 — — (6,817 ) (14 ) — Total assets $ 107,075 $ — $ 76,973 $ (177,570 ) $ (6,478 ) $ — Liabilities Derivative liabilities (free standing) $ (2,085 ) $ — $ — $ 1,797 $ 288 $ — Derivative liabilities (embedded) (171 ) — — — 61 (110 ) Total liabilities $ (2,256 ) $ — $ — $ 1,797 $ 349 $ (110 ) July 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (2) September 30, Assets Private common equity securities $ 4,775 $ — $ — $ — $ (1 ) $ 4,774 Private preferred equity securities 50,759 — 2,095 (1,607 ) 1,439 52,686 Asset-backed securities 35,711 (8,759 ) 23,320 (24,581 ) (3,899 ) 21,792 Bank debt 10,246 — — — 475 10,721 Corporate bonds 9,095 (236 ) 1,183 (198 ) (159 ) 9,685 Other debt securities 3,312 — 5,120 (3,307 ) 2,143 7,268 Rights and warrants — 2 — — — 2 Real estate — — 2,357 — 398 2,755 Total assets $ 113,898 $ (8,993 ) $ 34,075 $ (29,693 ) $ 396 $ 109,683 Liabilities Derivative liabilities (free standing) $ (1,367 ) $ — $ — $ — $ (798 ) $ (2,165 ) Derivative liabilities (embedded) (180 ) — — — — (180 ) Total liabilities $ (1,547 ) $ — $ — $ — $ (798 ) $ (2,345 ) January 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (2) September 30, Assets Private common equity securities $ 4,799 $ — $ — $ — $ (25 ) $ 4,774 Private preferred equity securities 48,834 — 3,034 (2,102 ) 2,920 52,686 Asset-backed securities 17,628 16,437 57,346 (56,947 ) (12,672 ) 21,792 Bank debt 8,350 — 4 (310 ) 2,677 10,721 Corporate bonds 9,255 (262 ) 1,211 (719 ) 200 9,685 Other debt securities — — 5,120 — 2,148 7,268 Rights and warrants — 2 — — — 2 Real estate — — 2,357 — 398 2,755 Total assets $ 88,866 $ 16,177 $ 69,072 $ (60,078 ) $ (4,354 ) $ 109,683 Liabilities Derivative liabilities (free standing) $ (1,326 ) $ — $ — $ (38 ) $ (801 ) $ (2,165 ) Derivative liabilities (embedded) (92 ) — — — (88 ) (180 ) Total liabilities $ (1,418 ) $ — $ — $ (38 ) $ (889 ) $ (2,345 ) (1) Sales of investments measured at fair value using Level 3 inputs include the impact of the LP Transaction as described in Note 4. (2) 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 and nine months ended September 30, 2018 were $nil and $nil , respectively ( 2017 - $0.1 million and $(3.2) million , respectively). 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. Prior to the change in the Company’s investment account structure, the Company used the following significant unobservable inputs in determining the fair value of the Level 3 investments held by the Company as of December 31, 2017 . Level 3 investments not presented in the table below were insignificant or do not have any unobservable inputs to disclose, as they were valued primarily using dealer quotes or at cost. 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 measured 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 was reduced from the enterprise value to determine the equity value. Real estate and other debt securities The values of the investments were based upon available information concerning the market for real estate property investments and the underlying assets of the other debt investments. The valuation methods included, but were 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 were based on the valuation techniques discussed in private equity investments above as they relate to the same underlying securities. For the nine months ended September 30, 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	9 Months Ended
	Sep. 30, 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	Prior to the change in the Company’s investment account structure described in Note 4 , the Company had entered into repurchase and reverse repurchase agreements with financial institutions in which the financial institution agreed to resell or repurchase securities and the Company agreed to repurchase or resell such securities at a mutually agreed price upon maturity. These agreements were generally collateralized by corporate or government bonds or asset-backed securities. As the Company held only repurchase agreements as of December 31, 2017 , these positions were not impacted by counterparty netting agreements. Interest payable and receivable related to these transactions were included in interest payable and receivable in the condensed consolidated balance sheets. Generally, repurchase and reverse repurchase agreements matured within 30 to 90 days . The Company may lend securities for securities lending transactions or pledged securities and/or cash for securities borrowed transactions. The value of any securities loaned was reflected in investments in securities. Any collateral received was reflected in due to brokers in the condensed consolidated balance sheets as of December 31, 2017 . As a result of the investment account structure change, there were no repurchase and reverse repurchase agreements directly held by the Company as of September 30, 2018 . The following table presents the contractual maturity of the repurchase agreements by class of collateral pledged as of December 31, 2017 : 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	9 Months Ended
	Sep. 30, 2018
Due to and from Broker-Dealers and Clearing Organizations [Abstract]
Due from/to brokers	Prior to the change in the Company’s investment account structure described in Note 4 , the Company held substantially all of its investments through prime brokers pursuant to agreements between the Company and each prime broker. As of September 30, 2018 , a net balance of $12.8 million was not transferred to TP Fund and as a result, remains on the Company’s condensed consolidated balance sheet and is subject to the Participation Agreement as described in Note 4. The brokerage arrangements differed from broker to broker, but generally cash and investments in securities were available as collateral against investments in securities sold, not yet purchased and derivative positions, if required. As of September 30, 2018 and December 31, 2017 , the Company’s due from/to brokers were comprised of the following: September 30, December 31, Due from brokers Cash held at brokers $ 8,316 $ 295,467 Receivable from unsettled trades (1) 4,537 9,626 $ 12,853 $ 305,093 Due to brokers Borrowing from prime brokers $ 16 $ 759,267 Payable from unsettled trades — 10,938 $ 16 $ 770,205 (1) Receivables relating to securities sold by the Company were recorded as receivable from unsettled trades in due from brokers in the Company’s condensed consolidated balance sheets. Due from/to brokers included 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 included cash collateral received and posted from OTC and repurchase agreement counterparties. As of December 31, 2017 , the Company’s borrowing from prime brokers included a total non-U.S. currency balance of $70.1 million . Prior to the investment account structure change, the Company used prime brokerage borrowing arrangements to provide collateral for its letter of credit facilities and to fund trust accounts securing certain reinsurance contracts. As of December 31, 2017 , the Company had $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 were borrowed through committed facilities with terms of up to 90 days, secured by assets of the Company held by the prime broker, and incurred interest based on the Company’s negotiated rates. This interest expense was reflected in net investment income (loss) in the condensed consolidated statements of income (loss) .

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Prior to the change in the Company’s investment account structure described in Note 4 , the Company entered into derivative contracts. The following tables identify the listing currency, fair value and notional amounts of derivative instruments included in the condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017 , categorized by primary underlying risk. Balances are presented on a gross basis. As of September 30, 2018 Listing currency (1) Fair Value Notional Amounts (2) Derivative Liabilities by Primary Underlying Risk Embedded derivative liabilities in reinsurance contracts (3) USD $ 110 $ 20,000 Total Derivative Liabilities (embedded) $ 110 $ 20,000 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 September 30, 2018 and 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 and nine months ended September 30, 2018 and 2017 . Realized and unrealized gains (losses) for the three and nine months ended September 30, 2018 include activity in the separate accounts up to the date of change in the investment structure described in Note 4 . 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) . Three months ended September 30, 2018 September 30, 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 $ (2,439 ) $ 2,943 $ 2,824 $ (4,059 ) Credit Default Swaps - Protection Sold (463 ) 452 (26 ) (288 ) Total Return Swaps - Long Contracts 1,667 (824 ) — 1,506 Equity Price Contracts for Differences - Long Contracts 7,164 (5,914 ) 5,021 13,949 Contracts for Differences - Short Contracts (1,141 ) (1,533 ) (511 ) (1,219 ) Total Return Swaps - Long Contracts (768 ) — 4,655 5,455 Total Return Swaps - Short Contracts (956 ) — (2,732 ) (4,519 ) Interest Rates Interest Rate Swaps — — (7 ) — Interest Rate Swaptions (1,819 ) 1,629 — (512 ) Sovereign Futures - Short Contracts (605 ) 644 (139 ) 1,284 Total Return Swaps - Long Contracts (7,569 ) 3,277 — — Foreign Currency Exchange Rates Foreign Currency Forward Contracts 6,785 (6,038 ) (1,863 ) (609 ) Foreign Currency Options - Purchased 567 (469 ) (529 ) 3 Foreign Currency Options - Sold (286 ) 292 1 (2 ) $ 137 $ (5,541 ) $ 6,694 $ 10,989 Embedded Derivatives Embedded derivatives in reinsurance contracts $ — $ 54 $ — $ — Total Derivative Liabilities (embedded) $ — $ 54 $ — $ — Nine months ended September 30, 2018 September 30, 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 $ (3,557 ) $ 921 $ 359 $ (4,029 ) Credit Default Swaps - Protection Sold (333 ) 744 11 (347 ) Total Return Swaps - Long Contracts 3,486 (2,000 ) (29 ) 1,469 Equity Price Contracts for Differences - Long Contracts 32,471 (15,098 ) 51,946 20,636 Contracts for Differences - Short Contracts 4,569 (3,608 ) (4,716 ) 1,726 Total Return Swaps - Long Contracts 16,791 (15,864 ) 8,517 14,002 Total Return Swaps - Short Contracts (17,329 ) 1,883 (6,475 ) (3,731 ) Interest Rates Interest Rate Swaps — — (3,104 ) (1,740 ) Interest Rate Swaptions (1,819 ) 1,228 522 (2,854 ) Sovereign Future Options - Long Contracts 403 — — — Sovereign Future Options - Short Contracts 50 — — — Sovereign Futures - Long Contracts 639 — — — Sovereign Futures - Short Contracts (1,166 ) — (8,795 ) 1,942 Total Return Swaps - Long Contracts (7,569 ) — — — Foreign Currency Exchange Rates Foreign Currency Forward Contracts (2,849 ) 4,403 (11,898 ) (1,877 ) Foreign Currency Future Options - Purchased (108 ) — — — Foreign Currency Options - Purchased 5,138 — (6,716 ) 1,165 Foreign Currency Options - Sold (771 ) — 2,185 (82 ) $ 28,046 $ (27,391 ) $ 21,807 $ 26,280 Embedded Derivatives Embedded derivatives in reinsurance contracts $ — $ 61 $ — $ (88 ) Total Derivative Liabilities (embedded) $ — $ 61 $ — $ (88 ) *Unrealized gain (loss) relates to derivatives still held at reporting date. The Company’s derivative contracts were subject to International Swaps and Derivatives Association (“ISDA”) Master Agreements and other similar agreements that contained 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 obtained/provided collateral from/to various counterparties for OTC derivative and futures contracts in accordance with bilateral collateral agreements. During the period ended December 31, 2017 , no termination events were triggered under the ISDA Master Agreements. As of December 31, 2017 , the aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position was $3.6 million for which the Company posted collateral in the form of cash of $103.0 million in the normal course of business. Similarly, the Company held collateral in cash from certain counterparties as of December 31, 2017 . If the credit-risk-related contingent features underlying these instruments had been triggered as of December 31, 2017 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 were sufficient to offset the derivative liabilities. The Company’s derivatives did not qualify as hedges for financial reporting purposes and were 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 had 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 had the right to offset against payments owed to the defaulting party or collateral held by the non-defaulting party. The Company had pledged cash collateral to counterparties to support the current value of amounts due to the counterparties based on the value of the underlying security. As of December 31, 2017 , the gross and net amounts of derivative instruments and repurchase agreements that were subject to enforceable master netting arrangements or similar agreements were as follows: 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 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	9 Months Ended
	Sep. 30, 2018
Insurance Loss Reserves [Abstract]
Loss and loss adjustment expense reserves	As of September 30, 2018 and December 31, 2017 , loss and loss adjustment expense reserves in the condensed consolidated balance sheets was comprised of the following: September 30, December 31, Case loss and loss adjustment expense reserves $ 120,714 $ 115,622 Incurred but not reported loss and loss adjustment expense reserves 701,005 604,260 Deferred gains on retroactive reinsurance contracts 461 688 $ 822,180 $ 720,570 The following table represents the activity in the loss and loss adjustment expense reserves for the nine months ended September 30, 2018 and 2017 : September 30, September 30, 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 254,265 295,379 Prior years (1) 11,061 (24,830 ) Total incurred loss and loss adjustment expenses 265,326 270,549 Net loss and loss adjustment expenses paid in respect of losses occurring in: Current year (58,652 ) (47,655 ) Prior years (103,572 ) (145,550 ) Total net paid losses (162,224 ) (193,205 ) Foreign currency translation (5,715 ) 15,310 Net reserves for loss and loss adjustment expenses, end of period 816,844 697,782 Plus: loss and loss adjustment expenses recoverable, end of period 1,576 1,587 Plus: deferred charges on retroactive reinsurance contracts 3,760 — Gross reserves for loss and loss adjustment expenses, end of period $ 822,180 $ 699,369 (1) In the period ended June 30, 2018, the Company started including the amortization of deferred gains on retroactive reinsurance contracts in prior year loss development. This line item was previously presented separately in the loss reserves roll forward presented above. The prior year presentation has been adjusted to conform to the current year presentation. 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 $11.1 million net increase in prior years’ reserves for the nine months ended September 30, 2018 includes a $18.2 million increase in loss reserves resulting from increase s in premium earnings estimates on certain contracts, partially offset by $7.1 million of net favorable reserve development related to decrease s 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 $18.2 million net increase in loss and loss adjustment expenses incurred resulting from increase s in premium earnings estimates was accompanied by a $6.1 million increase in acquisition costs, for a total of $24.3 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 $25.6 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 $1.3 million improvement in the net underwriting results for the nine months ended September 30, 2018 . • The $7.1 million of net favorable prior years’ reserve development for the nine months ended September 30, 2018 was accompanied by net increase s of $2.3 million in acquisition costs, resulting in a $4.8 million improvement in the net underwriting results , primarily due to: • $12.7 million of net favorable underwriting loss development relating to workers’ compensation contracts, multi-line contracts and credit and financial lines contracts. The favorable development was the result of better than expected loss experience and was partially offset by • $7.4 million of net adverse underwriting loss development primarily relating to our Florida homeowners’ quota share 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. • 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 $6.1 million improvement in the net underwriting results for the nine months ended September 30, 2018 . As of September 30, 2018 , the Company had an unamortized deferred charge of $3.8 million ( December 31, 2017 - $nil ) relating to retroactive reinsurance contracts. Deferred charge on retroactive contracts are recorded in other assets on the Company’s condensed consolidated balance sheet. The $24.8 million net decrease in prior years’ reserves, which includes $1.4 million for the amortization of deferred gains, for the nine months ended September 30, 2017 includes $31.7 million of net favorable reserve development related to decreases in loss reserve estimates, partially offset by $6.9 million of additional loss reserves resulting from increases in premium earnings estimates on certain contracts. The net decrease 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 $31.7 million of net favorable prior years’ reserve development for the nine months ended September 30, 2017 was primarily a result of having favorable loss development on certain retroactive reinsurance contracts. These retroactive reinsurance contracts had profit commission terms such that the favorable reserve development associated with these contracts was offset by similar increases in acquisition costs. The total net increases in acquisition costs associated with the prior year loss development for the nine months ended September 30, 2017 was $31.7 million , resulting in minimal impact in the net underwriting loss. • The $6.9 million increase in loss and loss adjustment expenses incurred related to the increase in premium earnings estimates on certain contracts was accompanied by minimal increases in acquisition costs. The related increase in earned premium related to the increase in premium earnings estimates was $8.1 million , resulting in a $1.2 million improvement in the net underwriting results for the nine months ended September 30, 2017 . • 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 $1.2 million improvement in the net underwriting results for the nine months ended September 30, 2017 .

Management, performance and fou

Management, performance and founders fees	9 Months Ended
	Sep. 30, 2018
Management, Performance and Founders Fees [Abstract]
Management, performance and founders fees	Prior to the change in the Company’s investment account structure described in Note 4 , Third Point Re, Third Point Re BDA, TPRUSA and Third Point Re USA were parties to the JV Agreements with Third Point LLC and TP GP under which Third Point LLC managed certain jointly held assets. Effective August 31, 2018, Third Point Re, Third Point Re BDA and Third Point Re USA entered into a LPA with TP GP, pursuant to which Third Point Re BDA and Third Point Re USA invested in the TP Fund. Management fees Pursuant to both the JV Agreements and the LPA, Third Point LLC is entitled to receive monthly management fees. Prior to the change in the Company’s investment account structure, management fees were calculated based on 1.5% of the net investments managed by Third Point LLC. As a result of the LPA effective August 31, 2018, management fees are charged at the TP Fund level and are calculated based on 1.5% of the investment in TP Fund and multiplied by an exposure multiplier computed by dividing the average daily investment exposure leverage of the TP Fund by the average daily investment exposure leverage of the Third Point Offshore Master Fund L.P. (“Offshore Master Fund”). Third Point LLC also serves as the investment manager for the Offshore Master Fund. Performance fees Pursuant to both the JV Agreements and the LPA, TP GP receives a performance fee allocation. Prior to the change in the Company’s investment account structure, the performance fee allocation was equal to 20% of the net investment income of the applicable company’s share of the net investment assets managed by Third Point LLC. As a result of the LPA effective August 31, 2018, the performance fee allocation is equal to 20% of the Company’s investment income in the related party investment fund. Prior to the change in the investment account structure, the performance fee accrued on net investment income was included in liabilities as a performance fee payable to related party during the period, unless funds were redeemed from the TPRE Limited Partners’ accounts, in which case, the proportionate share of performance fee associated with the redemption amount was earned and allocated to TP GP’s capital account and recorded as an increase in noncontrolling interests in related party. At the end of each year, the remaining portion of the performance fee payable that had not been included in noncontrolling interests in related party was earned and then allocated to TP GP’s capital account. As a result of the LPA effective August 31, 2018, the performance fee is included as part of “Investment in related party investment fund” on the Company’s condensed consolidated balance sheet since the fees are charged at the TP Fund level. 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. For the three and nine months ended September 30, 2018 , management and performance fees to related parties in the condensed consolidated statements of income (loss) include activity in the separate accounts up to the date of change in the investment account structure. As a result of the LPA effective August 31, 2018, management and performance fees for the three and nine months ended September 30, 2018 are presented within net investment income from investment in related party investment fund in the condensed consolidated statements of income. The total management and performance fees to related parties, including our share of fees paid in connection with our investment in TP Fund, for the three and nine months ended September 30, 2018 were as follows: Three months ended Nine months ended September 30, September 30, September 30, September 30, Management fees - Third Point LLC $ 6,387 $ 9,507 $ 25,797 $ 26,751 Performance fees - Third Point Advisors LLC (1,082 ) 21,041 4,048 76,428 Management and performance fees to related parties as reported in the Company’s condensed consolidated statement of income 5,305 30,548 29,845 103,179 Management and performance fees included in net investment income from investment in related party investment fund 2,352 — 2,352 — Total management and performance fees to related parties $ 7,657 $ 30,548 $ 32,197 $ 103,179 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 19 for additional information. As of September 4, 2018, the date when substantially all of the Company’s investments were transferred to TP Fund, $3.4 million of performance fees payable to TP GP were also transferred to TP Fund.

Deposit contracts

Deposit contracts	9 Months Ended
	Sep. 30, 2018
Deposit Contracts, Liabilities [Abstract]
Deposit contracts	The following table represents activity for the deposit contracts for the nine months ended September 30, 2018 and year ended December 31, 2017 : September 30, December 31, Balance, beginning of period $ 129,133 $ 104,905 Consideration received 9,057 22,658 Consideration receivable 14,781 2,080 Net investment expense (income) allocation (1,609 ) 2,800 Payments (4,718 ) (3,545 ) Foreign currency translation 317 235 Balance, end of period $ 146,961 $ 129,133

Senior notes payable and letter

Senior notes payable and letter of credit facilities	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Senior notes payable and letter of credit facilities	Senior Notes payable As of September 30, 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 September 30, 2018 , the Company had capitalized $1.1 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 September 30, 2018 , the Notes had an estimated fair value of $115.0 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 and for the periods ended September 30, 2018 and December 31, 2017 . Letters of credit As of September 30, 2018 , the Company had entered into the following letter of credit facilities: Letters of Credit Collateral Committed Capacity Issued Cash and Cash Equivalents Unsecured syndicated credit facility (1) $ 200,000 $ 138,087 n/a Secured letters of credit facilities 425,000 124,543 180,524 $ 625,000 $ 262,630 $ 180,524 (1) On July 31, 2018, Third Point Re, Third Point Re BDA and Third Point Re USA entered into an Unsecured Revolving Credit and Letter of Credit Facility Agreement (the “Credit Agreement”) with SunTrust Bank, SunTrust Robinson Humphrey, Inc., RBC Capital Markets and ING Capital. The Credit Agreement provides for the issuance of up to $200.0 million of letters of credit to support obligations in connection with the reinsurance business of Third Point Re BDA and Third Point Re USA. The Credit Agreement is fully and unconditionally guaranteed by Third Point Reinsurance Ltd. The Company’s secured letter of credit facilities are bilateral agreements that generally renew on an annual basis. The letters of credit issued under the secured letter of credit facilities are fully collateralized. See Note 3 for additional information.

Net investment income

Net investment income	9 Months Ended
	Sep. 30, 2018
Net Investment Income [Abstract]
Net investment income (loss)	Net investment income (loss) for the three and nine months ended September 30, 2018 and 2017 consisted of the following: Three months ended Nine months ended September 30, September 30, September 30, September 30, Net investment income (loss) by type Net realized gains on investments and investment derivatives $ 315,181 $ 25,993 $ 445,682 $ 183,939 Net change in unrealized gains (losses) on investments and investment derivatives (317,849 ) 75,016 (413,370 ) 199,830 Net gains (losses) on foreign currencies (3,144 ) 7,572 (5,761 ) 5,419 Dividend and interest income 13,757 17,355 51,474 57,062 Dividends paid on securities sold, not yet purchased (1,038 ) (1,537 ) (5,259 ) (3,205 ) Other expenses (3,266 ) (4,883 ) (15,618 ) (15,063 ) Management and performance fees to related parties (5,305 ) (30,548 ) (29,845 ) (103,179 ) Net investment loss from investment in related party investment fund (1) (1,926 ) — (1,926 ) — Net investment income (loss) $ (3,590 ) $ 88,968 $ 25,377 $ 324,803 (1) Effective August 31, 2018, Third Point Re, Third Point RE BDA and Third Point Re USA entered into a LPA to invest in TP Fund. As a result, the management and performance fees are presented within net investment income from investment in related party investment fund from the effective date of the transition. See Notes 4 and 11 for additional information regarding the LPA and related management and performance fees. The following table provides an additional breakdown of our net investment income (loss) by asset and liability type for the three and nine months ended September 30, 2018 and 2017 : Three months ended Nine months ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Net investment income (loss) by asset type Equity securities $ 30,317 $ 81,778 $ 70,873 $ 343,605 Private common equity securities (175 ) (65 ) (628 ) (26 ) Private preferred equity securities (806 ) 1,439 (2,680 ) 3,066 Total equities 29,336 83,152 67,565 346,645 Asset-backed securities 1,178 6,532 20,660 11,665 Bank debt 2,005 1,277 5,326 7,491 Corporate bonds 455 999 (2,958 ) 6,707 Municipal bonds 3,742 — 9,990 — U.S. Treasury securities 494 806 335 3,171 Sovereign debt (2,136 ) 9,835 (6,538 ) 21,683 Other debt securities (63 ) 2,417 406 2,417 Total debt securities 5,675 21,866 27,221 53,134 Options (8,908 ) (9,343 ) (15,527 ) (26,409 ) Rights and warrants 191 (16 ) 238 22 Real estate (687 ) 398 (186 ) 398 Trade claims (293 ) (716 ) (580 ) (497 ) Total other investments (9,697 ) (9,677 ) (16,055 ) (26,486 ) Net investment income (loss) in funds valued at NAV, excluding Third Point Enhanced LP (95 ) 2,216 (721 ) 8,939 Total net investment income from invested assets 25,219 97,557 78,010 382,232 Net investment income (loss) by liability type Equity securities (21,481 ) (6,144 ) (32,407 ) (13,611 ) Sovereign debt — — — 2 Corporate bonds (483 ) 350 (2,452 ) (1,819 ) Options 8,790 4,593 21,697 8,175 Total net investment loss from securities sold, not yet purchased (13,174 ) (1,201 ) (13,162 ) (7,253 ) Other investment income (losses) and other expenses not presented above Other investment expenses 1,949 (1,477 ) 924 (400 ) Net investment income (loss) on derivative contracts (5,404 ) 17,683 655 48,087 Net investment income (loss) on cash, including foreign exchange gain (loss) (6,021 ) 5,738 (15,366 ) (255 ) Net investment income (losses) on securities purchased under an agreement to sell and securities sold under an agreement to repurchase 3 — (238 ) (39 ) Withholding taxes reclassified to income tax expense 1,069 1,216 6,325 5,610 Total other investment income (losses) and other expenses (8,404 ) 23,160 (7,700 ) 53,003 Management and performance fees to related parties (5,305 ) (30,548 ) (29,845 ) (103,179 ) Net investment loss from investment in related party investment fund (1) (1,926 ) — (1,926 ) — Net investment income (loss) $ (3,590 ) $ 88,968 $ 25,377 $ 324,803 (1) Effective August 31, 2018, Third Point Re, Third Point RE BDA and Third Point Re USA entered into a LPA to invest in TP Fund. As a result, the management and performance fees are presented within net investment income from investment in related party investment fund from the effective date of the transition. See Note 4 and Note 11 for additional information regarding the LPA and related management and performance fees. As a result of the Company’s holding in TP Fund and its contribution to the Company’s overall financial results, the Company includes the following summarized income statement of the TP Fund for the three and nine months ended September 30, 2018 and summarized balance sheet as of September 30, 2018 . This summarized income statement of TP Fund reflects the main components of total investment income and expenses of TP Fund. This summarized income statement is not a breakdown of the Company’s proportional investment income in TP Fund as presented in the Company’s condensed consolidated statement of income. Three and nine months ended TP Fund summarized income statement September 30, 2018 Investment loss Net realized loss from securities, derivative contracts and foreign currency translations $ (4,113 ) Net change in unrealized gain on securities, derivative contracts and foreign currency translations 3,654 Net income from currencies 2,606 Dividend and interest income 3,818 Total investment income 5,965 Expenses Management fees (2,834 ) Other expenses (5,685 ) Total expenses (8,519 ) Net loss $ (2,554 ) The following table is a summarized balance sheet of TP Fund as of September 30, 2018 and reflects the underlying assets and liabilities of TP Fund. This summarized balance sheet is not a breakdown of the Company’s proportional interests in the underlying assets and liabilities of TP Fund. TP Fund summarized balance sheet September 30, 2018 Assets Total investments in securities $ 2,962,324 Cash and cash equivalents 30,001 Due from brokers 199,675 Derivative assets, at fair value 13,689 Interest and dividends receivable 3,472 Other assets 370 Total assets 3,209,531 Liabilities Accounts payable and accrued expenses 5,284 Securities sold, not yet purchased, at fair value 355,600 Due to brokers 945,603 Derivative liabilities, at fair value 13,375 Interest and dividends payable 2,476 Subscriptions received in advance 30,000 Total liabilities 1,352,338 Total partners' capital $ 1,857,193

Other expenses

Other expenses	9 Months Ended
	Sep. 30, 2018
Other Income and Expenses [Abstract]
Other expenses	Other expenses for the three and nine months ended September 30, 2018 and 2017 consisted of the following: Three months ended Nine months ended September 30, September 30, September 30, September 30, Investment expense (income) on deposit liabilities $ (4,058 ) $ 1,160 $ (1,609 ) $ 1,472 Investment expense and change in fair value of embedded derivatives in reinsurance contracts 2,696 2,686 8,225 7,380 $ (1,362 ) $ 3,846 $ 6,616 $ 8,852

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 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. Prior to the change in the Company’s investment account structure described in Note 4 , the Company was 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. In addition, the Company had recorded uncertain tax positions related to certain investment transactions in certain foreign jurisdictions. As of September 30, 2018 , the Company has accrued $1.9 million (December 31, 2017 - $1.9 million ). For the three and nine months ended September 30, 2018 and 2017 , the Company recorded income tax expense, as follows: Three months ended Nine months ended September 30, September 30, September 30, September 30, Income tax expense (benefit) related to U.S. and U.K. subsidiaries (1) $ (1,180 ) $ 2,219 $ (1,968 ) $ 8,246 Change in uncertain tax positions (2) — 40 50 224 Withholding taxes on certain investment transactions (2) 1,069 1,216 6,325 5,610 $ (111 ) $ 3,475 $ 4,407 $ 14,080 (1) As of September 30, 2018 , the Company has recorded $0.9 million of net deferred tax assets, which are included in other assets in the condensed consolidated balance sheets. As of September 30, 2018 the net deferred tax asset was primarily the result of operating losses in the Company’s U.S. subsidiaries. The Company believes that it is more likely than not that the tax benefit will be realized. (2) Represents activity prior to the change in the Company’s investment account structure on August 31, 2018 as described in Note 4 .

Share capital

Share capital	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2018 and 2017 : Common shares 2018 2017 Common shares issued, beginning of period 107,227,347 106,501,299 Options exercised — 150,802 Restricted shares granted, net of forfeitures 50,644 36,418 Performance restricted shares granted, net of forfeitures and shares withheld 260,436 694,886 Retirement of treasury shares and shares repurchased (1) (13,730,258 ) — Warrants exercised, net (2) 361,556 — Common shares issued, end of period 94,169,725 107,383,405 Treasury shares, end of period — (3,944,920 ) Common shares outstanding, end of period 94,169,725 103,438,485 (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 nine months ended September 30, 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 of 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 September 30, 2018 , the Company repurchased 5,461,065 of its common shares in the open market for $73.0 million at a weighted average cost, including commissions, of $13.36 per share. Common shares repurchased by the Company during the period were retired. During the nine months ended September 30, 2018 , the Company repurchased 9,785,338 of its common shares in the open market for $133.4 million at a weighted average cost, including commissions, of $ 13.63 per share. Common shares repurchased by the Company during the period were retired. In the three months ended March 31, 2018, the Company also retired all shares previously held in treasury. As of September 30, 2018 , the Company was authorized to repurchase up to an aggregate of $66.6 million of additional common shares under its share repurchase program.

Share-based compensation

Share-based compensation	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2018 and 2017 : Three months ended Nine months ended September 30, September 30, September 30, September 30, Management and director options $ 60 $ 94 $ 215 $ 553 Restricted shares with service condition 166 196 445 474 Restricted shares with service and performance condition 2,172 350 4,296 2,987 $ 2,398 $ 640 $ 4,956 $ 4,014 As of September 30, 2018 , the Company had $10.5 million ( December 31, 2017 - $5.8 million ) of unamortized share compensation expense, which is expected to be amortized over a weighted average period of 1.6 years ( December 31, 2017 - 1.5 years ). Management and director options The management and director options activity for the nine months ended September 30, 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 September 30, 2018 8,888,053 $ 13.43 As of September 30, 2018 , the weighted average remaining contractual term for options outstanding and exercisable was 3.4 years and 3.4 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 September 30, 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 5,123,531 $ 10.04 3.3 years 5,123,531 $ 10.04 $15.05 - $16.89 1,917,145 15.93 3.5 years 1,875,285 15.95 $20.00 - $25.05 1,847,377 20.26 3.5 years 1,819,471 20.22 8,888,053 $ 13.43 3.4 years 8,818,287 $ 13.40 Restricted shares with service condition Restricted share award activity for the nine months ended September 30, 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 50,644 13.45 Vested (32,756 ) 12.83 Balance as of September 30, 2018 36,097 $ 13.35 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 nine months ended September 30, 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 554,456 369,633 14.02 Forfeited (288,700 ) — 14.00 Vested (115,757 ) (115,757 ) 14.00 Change in estimated restricted shares considered probable of vesting n/a 285,182 13.34 Balance as of September 30, 2018 2,005,378 1,426,261 $ 12.81

Non-controlling interests

Non-controlling interests	9 Months Ended
	Sep. 30, 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. Prior to the change in the Company’s investment account structure described in Note 4 , the joint ventures created through the JV Agreements ( Note 11 ) had been considered variable interest entities and had been consolidated in accordance with ASC 810, Consolidation (ASC 810). Since the Company was deemed to be the primary beneficiary, the Company had consolidated the joint ventures and 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 was subject to contractual withdrawal rights of TP GP, whereas TP GP, at its sole discretion, could withdraw the capital over the minimum capital required to be maintained in its capital accounts. This excess capital was therefore recorded on the Company’s condensed consolidated balance sheets as redeemable noncontrolling interest in related party whereas the required minimum capital was 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. 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 nine months ended September 30, 2018 and 2017 : Redeemable noncontrolling interests in related party Noncontrolling interests in related party Total noncontrolling interests in related party September 30, September 30, September 30, September 30, September 30, September 30, Balance, beginning of period $ 108,219 $ — $ 5,407 $ 35,674 $ 113,626 $ 35,674 Changes in capital account allocation (1) (108,219 ) 16,813 (5,407 ) (30,433 ) (113,626 ) (13,620 ) Balance, end of period $ — $ 16,813 $ — $ 5,241 $ — $ 22,054 (1) Changes in capital account allocation include TP GP's redemption in conjunction with the change in the investment account structure. See Note 4 for additional information. 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 for the nine months ended September 30, 2018 and 2017 : Third Point Re BDA Third Point Re USA Total September 30, September 30, September 30, September 30, September 30, September 30, Balance, beginning of period $ 97,619 $ 30,358 $ 16,007 $ 5,316 $ 113,626 $ 35,674 Net income attributable to total noncontrolling interests in related party 141 2,503 82 657 223 3,160 Contributions (1) 564 2,865 80 354 644 3,219 Redemptions (2) (98,324 ) (17,999 ) (16,169 ) (2,000 ) (114,493 ) (19,999 ) Balance, end of period $ — $ 17,727 $ — $ 4,327 $ — $ 22,054 (1) Contributions include performance fees earned during the period. See Note 11 for additional information. (2) Redemptions include TP GP's redemption in conjunction with the change in the investment account structure. See Note 4 for additional information. Non-consolidated variable interest entities Third Point Enhanced LP TP Fund meets the definition of a variable interest entity principally because of the existence of disproportionate rights in the partnership compared to the obligations to absorb the expected losses and right to receive the expected residual returns of TP Fund’s results. The Company and TP GP hold interests of approximately 87.8% and 12.0% , respectively, of the net asset value of TP Fund. As a result, both entities hold significant financial interests in TP Fund. However, TP GP controls all of investment decision making authority and the Company does not have the power to direct the activities which most significantly impact the economic performance of TP Fund. As a result, the Company is not considered the primary beneficiary and does not consolidate TP Fund. Realized gains or losses upon any redemptions of investments are calculated using the weighted average method and the Company records contributions and withdrawals related to its investment in the TP Fund on the transaction date. As of September 30, 2018, the Company had no unfunded commitments related to TP Fund and the Company’s maximum exposure to loss corresponds to the value of its investments in TP Fund. Under the LPA, the TPRE Limited Partners will have the right to withdraw funds weekly from TP Fund to pay claims and expenses as needed, to meet capital adequacy requirements and to satisfy financing obligations. The TPRE Limited Partners may also withdraw their investment upon the occurrence of certain events specified in the LPA and may withdraw their investment in full on December 31, 2021 and each successive three-year anniversary of such date. Non-consolidated variable interest entities under previous investment account structure Prior to the change in the Company’s investment account structure, the Company invested directly in several limited partnerships and other investment vehicles. Some of these entities were affiliated with TP Fund’s investment manager, Third Point LLC. The activities of these variable interest entities were generally limited to holding investments and the Company’s involvement in these entities was passive in nature. The Company did not have the power to direct the activities which most significantly impacted the variable interest entities economic performance and therefore, the Company was not the primary beneficiary of these variable interest entities. The Company elected the practical expedient for estimating fair value for these investments and reported the investments based on the reported NAV with changes in fair value recognized within the condensed consolidated statements of income (loss) . The following summarizes all of the Company’s investment in variable interest entities that were not consolidated prior to the change in the investment account structure: TP Lux Holdco LP Prior to the change in the Company’s investment account structure, the Company was a limited partner in TP Lux Holdco LP (the “Cayman HoldCo”), which was 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 held 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 was also an affiliate of the Investment Manager. LuxCo’s principal objective was to act as a collective investment vehicle to purchase Euro debt and equity investments. The Company invested in the Cayman HoldCo alongside other investment funds managed by the Investment Manager. During the period from January 1, 2018 to September 4, 2018, the date when the Company’s investment in TP Lux Holdco was transferred to TP Fund, the Company had net distributions of $0.6 million and for the nine months ended September 30, 2017 net distributions of $39.6 million , to the Cayman HoldCo. As a result of the change in the investment account structure, the Company’s investment of $0.3 million in the limited partnership was transferred to the TP Fund. The estimated fair value of the investment in the limited partnership as of December 31, 2017 was $0.6 million , representing a 15.6% interest. Third Point Hellenic Recovery US Feeder Fund, L.P. Prior to the change in the Company’s investment account structure, the Company was a limited partner in Third Point Hellenic Recovery US Feeder Fund, L.P. (the “Hellenic Fund”), which was 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. No capital distributions or calls were made during the period from January 1, 2018 to September 4, 2018, the date when the Company’s investment in the Hellenic Fund was transferred to TP Fund ( 2017 - $1.3 million net distributions). As a result of the change in the investment account structure, the Company’s investment of $4.9 million in the limited partnership was transferred to the TP Fund. The estimated fair value of the investment in the limited partnership as of December 31, 2017 was $4.9 million, representing a 2.9% interest. TP DR Holdings LLC Prior to the change in the Company’s investment account structure, the Company held an equity and debt investment in TP DR Holdings LLC (“TP DR”), which was 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 was to own, develop and manage properties in the Dominican Republic. The Company invested in TP DR alongside other investment funds managed by the Investment Manager and third-party investors. During the period from January 1, 2018 to September 4, 2018, the date when the Company’s investment in TP DR was transferred to TP Fund, the Company contributed cash of $3.0 million ( 2017 - $ 1.4 million ) to TP DR. As a result of the change in the investment account structure, the Company’s investment of $16.8 million in the limited partnership was transferred to the TP Fund. As of December 31, 2017 , the estimated fair value of the investment was $12.7 million , corresponding to $3.7 million of equity, representing a 7.0% interest, and $9.0 million of debt, representing a 13.1% interest. Cloudbreak II Cayman Ltd and TP Trading II LLC Prior to the change in the Company’s investment account structure, the Company directly held 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 invested in the Cloudbreak entities and TP Trading II LLC alongside other investment funds managed by the Investment Manager. These entities’ were invested in a structure whose primary purpose was to purchase consumer loans for securitization and warrants from a marketplace lending platform. As a result of the change in the investment account structure, $3.4 million of the Company’s asset-backed security investments were transferred to the TP Fund. As of December 31, 2017 , the Cloudbreak entities held $4.6 million of the Company’s asset-backed security investments, which were included in investments in securities in the condensed consolidated balance sheet. The Company’s pro rata interest in the underlying investments was registered in the name of Cloudbreak II US LLC and the related income and expense were reflected in the condensed consolidated balance sheets and the condensed consolidated statements of income (loss) . As a result of the change in the investment account structure, the Company’s equity investment of $4.4 million in TP Trading II LLC was transferred to the TP Fund. As of December 31, 2017 , the estimated fair value of the investment was $6.0 million , representing a 9.3% interest. Ventures Entities Prior to the change in the Company’s investment account structure, the Company held equity interests in Venture Three Holdings LLC, Venture Four Holdings LLC, Venture Five Holdings LLC and Venture Six Holdings LLC (collectively, the “Ventures entities”), which were affiliates of the Investment Manager. The Company invested in the Ventures entities alongside other investment funds managed by the Investment Manager. The primary purpose of these entities was to make investments in direct commercial real estate, real estate debt and a publicly traded telecommunications company. As a result of the change in the investment account structure $20.8 million of the Company’s real estate and other debt investments were transferred to the TP Fund. As of December 31, 2017 , the Ventures entities held $7.5 million of the Company’s investments, which were included in investments in securities in the condensed consolidated balance sheets. The Company recorded changes in the fair value of this investment in the condensed consolidated statements of income (loss) . Cloudbreak Aggregator LP Prior to the change in the Company’s investment account structure, the Company held equity interests in Cloudbreak Aggregator LP, which was an affiliate of the Investment Manager. The Company invested in the Cloudbreak Aggregator LP alongside other investment funds managed by the Investment Manager. The primary purpose of this entity was to invest in Far Point LLC, the sponsor of Far Point Acquisition Corporation “FPAC”. FPAC is a NYSE listed special acquisition corporation. As a result of the change in the investment account structure, the Company’s equity investment of $4.5 million in the Cloudbreak Aggregator LP was transferred to the TP Fund. As of December 31, 2017 the Company did no t hold an equity interest in the Cloudbreak Aggregator LP.

Earnings (loss) per share avail

Earnings (loss) per share available to Third Point Re common shareholders	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Earnings (loss) per share available to Third Point Re common shareholders	The following sets forth the computation of basic and diluted earnings (loss) per share available to Third Point Re common shareholders for the three and nine months ended September 30, 2018 and 2017 : Three months ended Nine months ended September 30, September 30, September 30, September 30, Weighted-average number of common shares outstanding: ($ in thousands, except share and per share amounts) Basic number of common shares outstanding 95,671,385 101,391,145 98,768,442 102,553,346 Dilutive effect of options — 1,536,419 — 1,162,851 Dilutive effect of warrants — 1,416,696 — 1,067,832 Dilutive effect of restricted shares with service and performance condition — 335,314 — 256,222 Diluted number of common shares outstanding 95,671,385 104,679,574 98,768,442 105,040,251 Basic earnings (loss) per common share: Net income (loss) available to Third Point Re common shareholders $ (13,281 ) $ 54,685 $ (19,680 ) $ 233,449 Net income allocated to Third Point Re participating common shareholders — (55 ) — (256 ) Net income (loss) allocated to Third Point Re common shareholders $ (13,281 ) $ 54,630 $ (19,680 ) $ 233,193 Basic earnings (loss) per common share $ (0.14 ) $ 0.54 $ (0.20 ) $ 2.27 Diluted earnings (loss) per common share: Net income (loss) available to Third Point Re common shareholders $ (13,281 ) $ 54,685 $ (19,680 ) $ 233,449 Net income allocated to Third Point Re participating common shareholders — (53 ) — (250 ) Net income (loss) allocated to Third Point Re common shareholders $ (13,281 ) $ 54,632 $ (19,680 ) $ 233,199 Diluted earnings (loss) per common share $ (0.14 ) $ 0.52 $ (0.20 ) $ 2.22 As a result of the net loss for the three and nine months ended September 30, 2018 , dilutive options, warrants and restricted shares with service and performance conditions totaling 9,740,753 and 9,903,419 , respectively, were considered anti-dilutive and were 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. For the three months ended September 30, 2018 and 2017 , anti-dilutive options of 3,764,521 and 3,825,188 , respectively, were excluded from the computation of diluted earnings per share. For the nine months ended September 30, 2018 and 2017 , anti-dilutive options of 3,764,521 and 4,155,013 , respectively, were excluded from the computation of diluted earnings per share.

Financial instruments with off-

Financial instruments with off-balance sheet risk or concentrations of credit risk	9 Months Ended
	Sep. 30, 2018
Guarantees [Abstract]
Financial instruments with off-balance sheet risk or concentrations of credit risk	Off-balance sheet risk Subsequent to the change in the Company’s investment account structure described in Note 4, the Company does not own directly the net investment assets and related liabilities but instead, owns limited partnership interests in TP Fund. There are no off-balance sheet risks associated with the Company’s investment in TP Fund. The Company’s maximum exposure to loss associated with its investment in the TP Fund corresponds to the carrying value of its investments in TP Fund. Prior to the change in the Company’s investment account structure described in Note 4 , the Company traded various financial instruments and engaged in various investment activities with off-balance sheet risk. These financial instruments included securities sold, not yet purchased, forwards, futures, options, swaptions, swaps and contracts for differences. These financial instruments are now part of the underlying investment activities of TP Fund. 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 contain 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 could have exceeded the amounts recognized in the condensed consolidated balance sheets. Prior to the change in the Company’s investment account structure, the Company traded and held certain derivative contracts, such as written options, which constitute guarantees. These type of investments are now part of the underlying investment securities held by TP Fund. Swaption contracts gave 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 was 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 were 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 exposed the Company to market risks equivalent to actually holding securities of the notional value but typically involved little capital commitment relative to the exposure achieved. The gains or losses of the Company may therefore have been magnified on the capital commitment. These type of investments are now part of the investment strategies of the TP Fund. 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. Prior to the change in the investment account structure described in Note 4, the Company directly held these type of securities. Those securities are no longer held by the Company but instead, are included in the TP Fund’s investment strategies. Prior to the change in the Company’s investment account structure, the Company entered 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 would receive a pro-rata portion of the total notional amount of the credit default index or basket contract from the seller. When the Company purchased single-name, index and basket credit default swaps, the Company was exposed to counterparty nonperformance. The following table sets forth certain information related to the Company’s written credit derivatives as of 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 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 Subsequent to the change in the Company’s investment account structure described in Note 4 , the Company does not own directly the net investment assets but instead, owns limited partnership interests in TP Fund. As a result, the Company is no longer exposed directly to credit risk associated with its net investment assets it used to hold. The Company’s maximum exposure to loss associated its investment in the TP Fund corresponds to the carrying value of its investments in TP Fund. The Company does not have any unfunded capital commitments associated with its investment in TP Fund. Prior to the change in the Company’s investment account structure, the Company was subject to concentrations of credit risk with certain counterparties. Substantially all securities transactions and individual counterparty concentrations were with major securities firms, such as prime brokers or their affiliates. The Company reduced its credit risk with counterparties by entering into master netting agreements. Furthermore, the Company obtained collateral from counterparties to reduce its exposure to counterparty credit risk. 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.

Related party transactions

Related party transactions	9 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
Related party transactions	In addition to the transactions disclosed in Notes 4 , 11 and 19 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. Prior to the change in the Company’s investment account structure described in Note 4 , Third Point Loan L.L.C. (“Loan LLC”) and Third Point Ventures LLC (“Ventures LLC” and, together with Loan LLC, “Nominees”) served as nominees of the Company and other affiliated investment management clients of the Investment Manager for certain investments. The Nominees appointed the Investment Manager as its true and lawful agent and attorney. As of December 31, 2017 , Loan LLC held $ 99.6 million and Ventures LLC held $ 6.3 million of the Company’s investments, which were 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 were 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 September 30, 2018 , $nil ( 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) for the three and nine months ended September 30, 2018 was $(1.6) million and $(0.2) million , respectively ( 2017 - $5.4 million and $8.9 million , respectively) of investment income associated with the Company’s investment in BlackRock.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Investments Under the new investment account structure described in Note 4 , the Company does not have any unfunded commitments or obligations. Prior to the change in the Company’s investment account structure, the Company purchased loan and other participation interests, such as bank debt, which may have included revolving credit arrangements or other financing commitments obligating the Company to advance additional amounts on demand. 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. Letters of Credit See Note 13 for additional information related to the Company’s letter of credit facilities. 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 owed 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	9 Months Ended
	Sep. 30, 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. Non-underwriting income expenses including: net investment income, certain general and administrative expenses related to corporate activities, interest expense, foreign exchange gains (losses) and income tax (expense) benefit are presented as a reconciliation to the Company’s consolidated results. 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 and nine months ended September 30, 2018 and 2017 : Three months ended September 30, 2018 September 30, 2017 Property and Casualty Reinsurance Total (1) Property and Casualty Reinsurance Total (1) Revenues Gross premiums written $ 30,064 $ 30,064 $ 174,539 $ 174,539 Gross premiums ceded — — — — Net premiums written 30,064 30,064 174,539 174,539 Change in net unearned premium reserves 97,929 97,929 (68,564 ) (68,564 ) Net premiums earned 127,993 127,993 105,975 105,975 Expenses Loss and loss adjustment expenses incurred, net 88,706 88,706 77,275 77,275 Acquisition costs, net 40,841 40,841 33,974 33,974 General and administrative expenses 4,763 4,763 7,291 7,291 Total expenses 134,310 134,310 118,540 118,540 Net underwriting loss $ (6,317 ) (6,317 ) $ (12,565 ) (12,565 ) Net investment income (loss) (3,590 ) 88,968 Corporate expenses (4,748 ) (5,927 ) Other income (expense) 1,362 (3,846 ) Interest expense (2,074 ) (2,074 ) Foreign exchange gains (losses) 1,979 (5,437 ) Income tax benefit (expense) 111 (3,475 ) Net income attributable to noncontrolling interests in related party (4 ) (959 ) Net income (loss) available to Third Point Re common shareholders $ (13,281 ) $ 54,685 Property and Casualty Reinsurance - Underwriting Ratios (2): Loss ratio 69.3 % 72.9 % Acquisition cost ratio 31.9 % 32.1 % Composite ratio 101.2 % 105.0 % General and administrative expense ratio 3.7 % 6.9 % Combined ratio 104.9 % 111.9 % (1) As a result of the change in the Company’s investment structure, the Company is no longer quantifying the net investment income on float and all non-underwriting income and expenses are presented as a reconciliation to the Company’s consolidated results. Prior year comparatives have been adjusted to conform with the revised presentation. (2) Underwriting ratios are calculated by dividing the related expense by net premiums earned. Nine months ended September 30, 2018 September 30, 2017 Property and Casualty Reinsurance Total (1) Property and Casualty Reinsurance Total (1) Revenues Gross premiums written $ 458,189 $ 458,189 $ 477,457 $ 477,457 Gross premiums ceded (18,125 ) (18,125 ) (2,550 ) (2,550 ) Net premiums written 440,064 440,064 474,907 474,907 Change in net unearned premium reserves (28,092 ) (28,092 ) (57,365 ) (57,365 ) Net premiums earned 411,972 411,972 417,542 417,542 Expenses Loss and loss adjustment expenses incurred, net 265,326 265,326 270,549 270,549 Acquisition costs, net 149,830 149,830 157,067 157,067 General and administrative expenses 14,550 14,550 23,252 23,252 Total expenses 429,706 429,706 450,868 450,868 Net underwriting loss $ (17,734 ) (17,734 ) $ (33,326 ) (33,326 ) Net investment income 25,377 324,803 Corporate expenses (14,138 ) (15,552 ) Other expenses (6,616 ) (8,852 ) Interest expense (6,154 ) (6,151 ) Foreign exchange gains (losses) 4,215 (10,233 ) Income tax expense (4,407 ) (14,080 ) Net income attributable to noncontrolling interests in related party (223 ) (3,160 ) Net income (loss) available to Third Point Re common shareholders $ (19,680 ) $ 233,449 Property and Casualty Reinsurance - Underwriting Ratios (2): Loss ratio 64.4 % 64.8 % Acquisition cost ratio 36.4 % 37.6 % Composite ratio 100.8 % 102.4 % General and administrative expense ratio 3.5 % 5.6 % Combined ratio 104.3 % 108.0 % (1) As a result of the change in the Company’s investment structure, the Company is no longer quantifying the net investment income on float and all non-underwriting income and expenses are presented as a reconciliation to the Company’s consolidated results. Prior year comparatives have been adjusted to conform with the revised presentation. (2) Underwriting ratios are calculated by dividing the related expense by net premiums earned. The following table provides a breakdown of the Company’s gross premiums written by line of business for the three and nine months ended September 30, 2018 and 2017 : Three months ended Nine months ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Property (1) $ (3,578 ) (11.9 )% $ (3 ) — % $ (1,549 ) (0.3 )% $ (8,818 ) (1.9 )% Casualty 37,028 123.2 % 161,110 92.3 % 233,758 51.0 % 263,323 55.2 % Specialty (1) (3,386 ) (11.3 )% 13,432 7.7 % 221,639 48.4 % 113,601 23.8 % Total prospective reinsurance contracts 30,064 100.0 % 174,539 100.0 % 453,848 99.1 % 368,106 77.1 % Retroactive reinsurance contracts — — % — — % 4,341 0.9 % 109,351 22.9 % $ 30,064 100.0 % $ 174,539 100.0 % $ 458,189 100.0 % $ 477,457 100.0 % (1) The negative gross premium written amounts for the property and specialty lines of business were the result of reductions in premium estimates on certain contracts in the period.

Subsequent events

Subsequent events	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	On November 6, 2018, the Company’s Board of Directors authorized the repurchase of an additional $133.4 million common shares, which together with the shares remaining under the previously announced share repurchase program will 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. The Company may commence such repurchases immediately, subject to compliance with applicable securities laws. The timing, amount and method of any repurchases under the program will depend on a variety of factors, including market conditions, the Company’s capital position relative to internal and rating agency targets, legal requirements and other factors. The repurchase program may be modified, extended or terminated by the Board of Directors at any time.

Supplemental Guarantor Informat

Supplemental Guarantor Information	9 Months Ended
	Sep. 30, 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 September 30, 2018 and December 31, 2017 , condensed consolidating statements of income for the three and nine months ended September 30, 2018 and 2017 and condensed consolidating statements of cash flows for the nine months ended September 30, 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 September 30, 2018 Third Point Re TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Assets Total investments in securities $ — $ — $ 1,872,996 $ — $ 1,872,996 Cash and cash equivalents — 189 49,597 — 49,786 Restricted cash and cash equivalents — — 581,134 — 581,134 Subscription receivable from related party investment fund — — 30,000 — 30,000 Investment in subsidiaries 1,503,740 268,883 165,758 (1,938,381 ) — Due from brokers — — 12,853 — 12,853 Interest and dividends receivable — — 1,975 — 1,975 Reinsurance balances receivable — — 577,382 — 577,382 Deferred acquisition costs, net — — 231,286 — 231,286 Unearned premiums ceded — — 16,772 — 16,772 Loss and loss adjustment expenses recoverable — — 1,576 — 1,576 Amounts due from (to) affiliates 3,493 (3,948 ) 455 — — Other assets 2,079 10,149 854 — 13,082 Total assets $ 1,509,312 $ 275,273 $ 3,542,638 $ (1,938,381 ) $ 3,388,842 Liabilities Accounts payable and accrued expenses $ 1,402 $ 59 $ 7,739 $ — $ 9,200 Reinsurance balances payable — — 71,070 — 71,070 Deposit liabilities — — 146,961 — 146,961 Unearned premium reserves — — 693,333 — 693,333 Loss and loss adjustment expense reserves — — 822,180 — 822,180 Due to brokers — — 16 — 16 Participation agreement with related party investment fund — — 23,149 — 23,149 Interest and dividends payable — 1,026 131 — 1,157 Senior notes payable, net of deferred costs — 113,866 — — 113,866 Total liabilities 1,402 114,951 1,764,579 — 1,880,932 Redeemable noncontrolling interests in related party — — — — — Shareholders’ equity Common shares 9,417 — 1,239 (1,239 ) 9,417 Additional paid-in capital 924,153 165,990 1,537,183 (1,703,173 ) 924,153 Retained earnings (deficit) 574,340 (5,668 ) 239,637 (233,969 ) 574,340 Shareholders’ equity attributable to Third Point Re common shareholders 1,507,910 160,322 1,778,059 (1,938,381 ) 1,507,910 Noncontrolling interests in related party — — — — — Total shareholders’ equity 1,507,910 160,322 1,778,059 (1,938,381 ) 1,507,910 Total liabilities, noncontrolling interests and shareholders’ equity $ 1,509,312 $ 275,273 $ 3,542,638 $ (1,938,381 ) $ 3,388,842 CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2017 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Assets 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 (1) $ 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 (1) Negative balance of $8.8 million represents net deferred tax assets that are offset by net deferred tax liabilities in Third Point Re USA of $9.9 million , resulting in a net liability position as of December 31, 2017. CONDENSED CONSOLIDATING STATEMENTS OF LOSS For the three months ended September 30, 2018 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 30,064 $ — $ 30,064 Gross premiums ceded — — — — — Net premiums written — — 30,064 — 30,064 Change in net unearned premium reserves — — 97,929 — 97,929 Net premiums earned — — 127,993 — 127,993 Net investment loss — — (3,590 ) — (3,590 ) Equity in losses of subsidiaries (11,100 ) (2,821 ) (11 ) 13,932 — Total revenues (11,100 ) (2,821 ) 124,392 13,932 124,403 Expenses Loss and loss adjustment expenses incurred, net — — 88,706 — 88,706 Acquisition costs, net — — 40,841 — 40,841 General and administrative expenses 2,181 13 7,317 — 9,511 Other expenses — — (1,362 ) — (1,362 ) Interest expense — 2,074 — — 2,074 Foreign exchange gains — — (1,979 ) — (1,979 ) Total expenses 2,181 2,087 133,523 — 137,791 Loss before income tax benefit (13,281 ) (4,908 ) (9,131 ) 13,932 (13,388 ) Income tax (expense) benefit — 438 (327 ) — 111 Net loss (13,281 ) (4,470 ) (9,458 ) 13,932 (13,277 ) Net income attributable to noncontrolling interests in related party — — (4 ) — (4 ) Net loss attributable to Third Point Re common shareholders $ (13,281 ) $ (4,470 ) $ (9,462 ) $ 13,932 $ (13,281 ) For the nine months ended September 30, 2018 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 458,189 $ — $ 458,189 Gross premiums ceded — — (18,125 ) — (18,125 ) Net premiums written — — 440,064 — 440,064 Change in net unearned premium reserves — — (28,092 ) — (28,092 ) Net premiums earned — — 411,972 — 411,972 Net investment income — — 25,377 — 25,377 Equity in losses of subsidiaries (14,138 ) (2,582 ) (42 ) 16,762 — Total revenues (14,138 ) (2,582 ) 437,307 16,762 437,349 Expenses Loss and loss adjustment expenses incurred, net — — 265,326 — 265,326 Acquisition costs, net — — 149,830 — 149,830 General and administrative expenses 5,542 35 23,111 — 28,688 Other expenses — — 6,616 — 6,616 Interest expense — 6,154 — — 6,154 Foreign exchange gains — — (4,215 ) — (4,215 ) Total expenses 5,542 6,189 440,668 — 452,399 Loss before income tax benefit (19,680 ) (8,771 ) (3,361 ) 16,762 (15,050 ) Income tax (expense) benefit — 1,300 (5,707 ) — (4,407 ) Net loss (19,680 ) (7,471 ) (9,068 ) 16,762 (19,457 ) Net income attributable to noncontrolling interests in related party — — (223 ) — (223 ) Net loss attributable to Third Point Re common shareholders $ (19,680 ) $ (7,471 ) $ (9,291 ) $ 16,762 $ (19,680 ) CONDENSED CONSOLIDATING STATEMENTS OF INCOME For the three months ended September 30, 2017 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 174,539 $ — $ 174,539 Gross premiums ceded — — — — — Net premiums written — — 174,539 — 174,539 Change in net unearned premium reserves — — (68,564 ) — (68,564 ) Net premiums earned — — 105,975 — 105,975 Net investment income — — 88,968 — 88,968 Equity in earnings (losses) of subsidiaries 55,847 5,473 (30 ) (61,290 ) — Total revenues 55,847 5,473 194,913 (61,290 ) 194,943 Expenses Loss and loss adjustment expenses incurred, net — — 77,275 — 77,275 Acquisition costs, net — — 33,974 — 33,974 General and administrative expenses 1,162 17 12,039 — 13,218 Other expenses — — 3,846 — 3,846 Interest expense — 2,074 — — 2,074 Foreign exchange losses — — 5,437 — 5,437 Total expenses 1,162 2,091 132,571 — 135,824 Income before income tax (expense) benefit 54,685 3,382 62,342 (61,290 ) 59,119 Income tax (expense) benefit — 732 (4,207 ) — (3,475 ) Net income 54,685 4,114 58,135 (61,290 ) 55,644 Net income attributable to noncontrolling interests in related party — — (959 ) — (959 ) Net income available to Third Point Re common shareholders $ 54,685 $ 4,114 $ 57,176 $ (61,290 ) $ 54,685 For the nine months ended September 30, 2017 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 477,457 $ — $ 477,457 Gross premiums ceded — — (2,550 ) — (2,550 ) Net premiums written — — 474,907 — 474,907 Change in net unearned premium reserves — — (57,365 ) — (57,365 ) Net premiums earned — — 417,542 — 417,542 Net investment income — — 324,803 — 324,803 Equity in earnings (losses) of subsidiaries 237,060 19,305 (35 ) (256,330 ) — Total revenues 237,060 19,305 742,310 (256,330 ) 742,345 Expenses Loss and loss adjustment expenses incurred, net — — 270,549 — 270,549 Acquisition costs, net — — 157,067 — 157,067 General and administrative expenses 3,611 37 35,156 — 38,804 Other expenses — — 8,852 — 8,852 Interest expense — 6,151 — — 6,151 Foreign exchange losses — — 10,233 — 10,233 Total expenses 3,611 6,188 481,857 — 491,656 Income before income tax (expense) benefit 233,449 13,117 260,453 (256,330 ) 250,689 Income tax (expense) benefit — 2,166 (16,246 ) — (14,080 ) Net income 233,449 15,283 244,207 (256,330 ) 236,609 Net income attributable to noncontrolling interests in related party — — (3,160 ) — (3,160 ) Net income available to Third Point Re common shareholders $ 233,449 $ 15,283 $ 241,047 $ (256,330 ) $ 233,449 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2018 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Net loss $ (19,680 ) $ (7,471 ) $ (9,068 ) $ 16,762 $ (19,457 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Equity in (earnings) losses of subsidiaries 14,138 2,582 42 (16,762 ) — Share compensation expense 444 — 4,512 — 4,956 Net interest income on deposit liabilities — — (1,609 ) — (1,609 ) Net realized and unrealized gain on investments and derivatives — — (32,373 ) — (32,373 ) Net unrealized loss on investment in related party investment fund — — 1,926 — 1,926 Net foreign exchange gains — — (4,215 ) — (4,215 ) Amortization of premium and accretion of discount, net — 133 2,541 — 2,674 Changes in assets and liabilities: Reinsurance balances receivable — — (87,911 ) — (87,911 ) Deferred acquisition costs, net — — 27,507 — 27,507 Unearned premiums ceded — — (15,723 ) — (15,723 ) Loss and loss adjustment expenses recoverable — — (463 ) — (463 ) Other assets (1,415 ) (10,149 ) 5,807 — (5,757 ) Interest and dividends receivable, net — (2,029 ) (3,244 ) — (5,273 ) Unearned premium reserves — — 43,815 — 43,815 Loss and loss adjustment expense reserves — — 107,325 — 107,325 Accounts payable and accrued expenses 639 8,864 (32,264 ) — (22,761 ) Reinsurance balances payable — — 29,624 — 29,624 Amounts due from (to) affiliates (4,781 ) 4,360 421 — — Net cash provided by (used in) operating activities (10,655 ) (3,710 ) 36,650 — 22,285 Investing activities Contributions to related party investment fund — — (88,658 ) — (88,658 ) Purchases of investments — — (3,235,659 ) — (3,235,659 ) Proceeds from sales and maturities of investments — — 3,222,239 — 3,222,239 Purchases of investments to cover short sales — — (853,798 ) — (853,798 ) Proceeds from short sales of investments — — 800,508 — 800,508 Change in due to/from brokers, net — — 471,352 — 471,352 Decrease in securities sold under an agreement to repurchase — — (29,618 ) — (29,618 ) Net cash provided by investing activities — — 286,366 — 286,366 Financing activities Taxes paid on withholding shares (74 ) — — — (74 ) Purchases of Third Point Re common shares under share repurchase program (133,380 ) — — — (133,380 ) Increase in deposit liabilities, net — — 4,340 — 4,340 Change in total noncontrolling interests in related party, net — — (97,950 ) — (97,950 ) Dividend received by (paid to) parent 144,100 3,700 (147,800 ) — — Net cash provided by (used in) financing activities 10,646 3,700 (241,410 ) — (227,064 ) Net increase (decrease) in cash, cash equivalents and restricted cash (9 ) (10 ) 81,606 — 81,587 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 $ — $ 189 $ 630,731 $ — $ 630,920 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2017 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Net income $ 233,449 $ 15,283 $ 244,207 $ (256,330 ) $ 236,609 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in (earnings) losses of subsidiaries (237,060 ) (19,305 ) 35 256,330 — Share compensation expense 184 — 3,830 — 4,014 Net interest expense on deposit liabilities — — 1,472 — 1,472 Net realized and unrealized gain on investments and derivatives — — (383,681 ) — (383,681 ) Net foreign exchange losses — — 10,233 — 10,233 Amortization of premium and accretion of discount, net — 133 (585 ) — (452 ) Changes in assets and liabilities: Reinsurance balances receivable — — (77,444 ) — (77,444 ) Deferred acquisition costs, net — — (1,473 ) — (1,473 ) Unearned premiums ceded — — (934 ) — (934 ) Loss and loss adjustment expenses recoverable — — (1,586 ) — (1,586 ) Other assets (97 ) 5,507 2,808 — 8,218 Interest and dividends receivable, net — (2,031 ) 2,800 — 769 Unearned premium reserves — — 58,299 — 58,299 Loss and loss adjustment expense reserves — — 78,931 — 78,931 Accounts payable and accrued expenses (96 ) (7,960 ) 22,229 — 14,173 Reinsurance balances payable — — 11,462 — 11,462 Performance fees payable to related party — — 73,210 — 73,210 Amounts due from (to) affiliates 1,351 (4,806 ) 3,455 — — Net cash provided by (used in) operating activities (2,269 ) (13,179 ) 47,268 — 31,820 Investing activities Purchases of investments — — (2,238,167 ) — (2,238,167 ) Proceeds from sales and maturities of investments — — 2,536,688 — 2,536,688 Purchases of investments to cover short sales — — (440,242 ) — (440,242 ) Proceeds from short sales of investments — — 735,132 — 735,132 Change in due to/from brokers, net — — (400,566 ) — (400,566 ) Net cash provided by investing activities — — 192,845 — 192,845 Financing activities Proceeds from issuance of Third Point Re common shares, net of costs 1,504 — — — 1,504 Purchases of Third Point Re common shares under share repurchase program (40,864 ) — — — (40,864 ) Increase in deposit liabilities, net — — 6,380 — 6,380 Change in total noncontrolling interests in related party, net — — (16,780 ) — (16,780 ) Dividend received by (paid to) parent 40,000 13,300 (53,300 ) — — Net cash provided by (used in) financing activities 640 13,300 (63,700 ) — (49,760 ) Net increase (decrease) in cash, cash equivalents and restricted cash (1,629 ) 121 176,413 — 174,905 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 $ — $ 200 $ 483,596 $ — $ 483,796

Restricted cash and cash equi_2

Restricted cash and cash equivalents and restricted investments (Tables)	9 Months Ended
	Sep. 30, 2018
Cash and Cash Equivalents [Abstract]
Schedule of restricted cash and cash equivalents	The following table provides a summary of cash and cash equivalents, restricted cash and restricted investments as of September 30, 2018 and December 31, 2017 : September 30, December 31, Cash and cash equivalents $ 49,786 $ 8,197 Restricted cash securing letter of credit facilities (1) 180,524 250,487 Restricted cash securing reinsurance contracts (2) 400,610 290,649 Total cash, cash equivalents and restricted cash (3) 630,920 549,333 Restricted investments securing reinsurance contracts (2) 244,876 326,429 Total cash, cash equivalents, restricted cash and restricted investments $ 875,796 $ 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)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of the separate account managed by TP LLC	The following is a summary of the net investments managed by Third Point LLC as of September 30, 2018 and December 31, 2017 : September 30, December 31, Assets Total investments in securities, including investment in related party investment fund $ 1,872,800 $ 2,995,097 Cash and cash equivalents 10,387 8 Restricted cash and cash equivalents 581,134 541,136 Due from brokers 12,853 305,093 Derivative assets, at fair value — 73,372 Interest and dividends receivable 1,975 3,774 Total assets 2,479,149 3,918,480 Liabilities and noncontrolling interests in related party Accounts payable and accrued expenses 740 5,137 Securities sold, not yet purchased — 394,278 Securities sold under an agreement to repurchase — 29,618 Due to brokers 16 770,205 Derivative liabilities, at fair value — 14,503 Participation agreement with related party investment fund 23,149 — Interest and dividends payable 131 1,218 Total noncontrolling interests in related party (1) — 113,626 Total liabilities and noncontrolling interests in related party 24,036 1,328,585 Total net investments managed by Third Point LLC $ 2,455,113 $ 2,589,895 (1) See Note 19 for additional information.
Schedule of investments, categorized by the level of the fair value hierarchy	The following table presents the Company’s investments, categorized by the level of the fair value hierarchy as of September 30, 2018 : September 30, 2018 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets U.S. Treasury securities $ — $ 201,319 $ — $ 201,319 Sovereign debt — 43,557 — 43,557 Total debt securities $ — $ 244,876 $ — 244,876 Investments in funds valued at NAV 1,628,120 Total assets $ 1,872,996 Liabilities Derivative liabilities (embedded) $ — $ — $ 110 $ 110 Total liabilities $ — $ — $ 110 $ 110 The following table presents the Company’s investments, categorized by the level of the fair value hierarchy as of December 31, 2017 : 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 nine months ended September 30, 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 and nine months ended September 30, 2018 and 2017 : July 1, Transfers in to (out of) Level 3 Purchases Sales (1) Realized and Unrealized Gains (Losses) (2) September 30, Assets Private common equity securities $ 4,362 $ — $ 533 $ (4,714 ) $ (181 ) $ — Private preferred equity securities 56,769 — 37,774 (93,666 ) (877 ) — Asset-backed securities 28,139 — 7,348 (35,515 ) 28 — Corporate bonds 9,968 — 869 (10,976 ) 139 — Rights and warrants 424 — 97 (712 ) 191 — Real estate 7,351 — — (6,664 ) (687 ) — Derivative assets (free standing) 6,886 — — (7,646 ) 760 — Total assets $ 113,899 $ — $ 46,621 $ (159,893 ) $ (627 ) $ — Liabilities Derivative liabilities (free standing) $ (1,839 ) $ — $ — $ 1,823 $ 16 $ — Derivative liabilities (embedded) (164 ) — — — 54 (110 ) Total liabilities $ (2,003 ) $ — $ — $ 1,823 $ 70 $ (110 ) January 1, Transfers in to (out of) Level 3 Purchases Sales (1) Realized and Unrealized Gains (Losses) (2) September 30, Assets Private common equity securities $ 4,794 $ — $ 567 $ (4,726 ) $ (635 ) $ — Private preferred equity securities 57,126 — 38,376 (91,065 ) (4,437 ) — Asset-backed securities 27,308 — 35,905 (60,906 ) (2,307 ) — Corporate bonds 9,868 — 1,372 (11,763 ) 523 — Other debt securities 713 — — (913 ) 200 — Rights and warrants 435 — 753 (1,380 ) 192 — Real estate 6,831 — — (6,817 ) (14 ) — Total assets $ 107,075 $ — $ 76,973 $ (177,570 ) $ (6,478 ) $ — Liabilities Derivative liabilities (free standing) $ (2,085 ) $ — $ — $ 1,797 $ 288 $ — Derivative liabilities (embedded) (171 ) — — — 61 (110 ) Total liabilities $ (2,256 ) $ — $ — $ 1,797 $ 349 $ (110 ) July 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (2) September 30, Assets Private common equity securities $ 4,775 $ — $ — $ — $ (1 ) $ 4,774 Private preferred equity securities 50,759 — 2,095 (1,607 ) 1,439 52,686 Asset-backed securities 35,711 (8,759 ) 23,320 (24,581 ) (3,899 ) 21,792 Bank debt 10,246 — — — 475 10,721 Corporate bonds 9,095 (236 ) 1,183 (198 ) (159 ) 9,685 Other debt securities 3,312 — 5,120 (3,307 ) 2,143 7,268 Rights and warrants — 2 — — — 2 Real estate — — 2,357 — 398 2,755 Total assets $ 113,898 $ (8,993 ) $ 34,075 $ (29,693 ) $ 396 $ 109,683 Liabilities Derivative liabilities (free standing) $ (1,367 ) $ — $ — $ — $ (798 ) $ (2,165 ) Derivative liabilities (embedded) (180 ) — — — — (180 ) Total liabilities $ (1,547 ) $ — $ — $ — $ (798 ) $ (2,345 ) January 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (2) September 30, Assets Private common equity securities $ 4,799 $ — $ — $ — $ (25 ) $ 4,774 Private preferred equity securities 48,834 — 3,034 (2,102 ) 2,920 52,686 Asset-backed securities 17,628 16,437 57,346 (56,947 ) (12,672 ) 21,792 Bank debt 8,350 — 4 (310 ) 2,677 10,721 Corporate bonds 9,255 (262 ) 1,211 (719 ) 200 9,685 Other debt securities — — 5,120 — 2,148 7,268 Rights and warrants — 2 — — — 2 Real estate — — 2,357 — 398 2,755 Total assets $ 88,866 $ 16,177 $ 69,072 $ (60,078 ) $ (4,354 ) $ 109,683 Liabilities Derivative liabilities (free standing) $ (1,326 ) $ — $ — $ (38 ) $ (801 ) $ (2,165 ) Derivative liabilities (embedded) (92 ) — — — (88 ) (180 ) Total liabilities $ (1,418 ) $ — $ — $ (38 ) $ (889 ) $ (2,345 ) (1) Sales of investments measured at fair value using Level 3 inputs include the impact of the LP Transaction as described in Note 4. (2) 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	Prior to the change in the Company’s investment account structure, the Company used the following significant unobservable inputs in determining the fair value of the Level 3 investments held by the Company as of December 31, 2017 . Level 3 investments not presented in the table below were insignificant or do not have any unobservable inputs to disclose, as they were valued primarily using dealer quotes or at cost. 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

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents the Company’s investments, categorized by the level of the fair value hierarchy as of September 30, 2018 : September 30, 2018 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets U.S. Treasury securities $ — $ 201,319 $ — $ 201,319 Sovereign debt — 43,557 — 43,557 Total debt securities $ — $ 244,876 $ — 244,876 Investments in funds valued at NAV 1,628,120 Total assets $ 1,872,996 Liabilities Derivative liabilities (embedded) $ — $ — $ 110 $ 110 Total liabilities $ — $ — $ 110 $ 110 The following table presents the Company’s investments, categorized by the level of the fair value hierarchy as of December 31, 2017 : 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 nine months ended September 30, 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 and nine months ended September 30, 2018 and 2017 : July 1, Transfers in to (out of) Level 3 Purchases Sales (1) Realized and Unrealized Gains (Losses) (2) September 30, Assets Private common equity securities $ 4,362 $ — $ 533 $ (4,714 ) $ (181 ) $ — Private preferred equity securities 56,769 — 37,774 (93,666 ) (877 ) — Asset-backed securities 28,139 — 7,348 (35,515 ) 28 — Corporate bonds 9,968 — 869 (10,976 ) 139 — Rights and warrants 424 — 97 (712 ) 191 — Real estate 7,351 — — (6,664 ) (687 ) — Derivative assets (free standing) 6,886 — — (7,646 ) 760 — Total assets $ 113,899 $ — $ 46,621 $ (159,893 ) $ (627 ) $ — Liabilities Derivative liabilities (free standing) $ (1,839 ) $ — $ — $ 1,823 $ 16 $ — Derivative liabilities (embedded) (164 ) — — — 54 (110 ) Total liabilities $ (2,003 ) $ — $ — $ 1,823 $ 70 $ (110 ) January 1, Transfers in to (out of) Level 3 Purchases Sales (1) Realized and Unrealized Gains (Losses) (2) September 30, Assets Private common equity securities $ 4,794 $ — $ 567 $ (4,726 ) $ (635 ) $ — Private preferred equity securities 57,126 — 38,376 (91,065 ) (4,437 ) — Asset-backed securities 27,308 — 35,905 (60,906 ) (2,307 ) — Corporate bonds 9,868 — 1,372 (11,763 ) 523 — Other debt securities 713 — — (913 ) 200 — Rights and warrants 435 — 753 (1,380 ) 192 — Real estate 6,831 — — (6,817 ) (14 ) — Total assets $ 107,075 $ — $ 76,973 $ (177,570 ) $ (6,478 ) $ — Liabilities Derivative liabilities (free standing) $ (2,085 ) $ — $ — $ 1,797 $ 288 $ — Derivative liabilities (embedded) (171 ) — — — 61 (110 ) Total liabilities $ (2,256 ) $ — $ — $ 1,797 $ 349 $ (110 ) July 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (2) September 30, Assets Private common equity securities $ 4,775 $ — $ — $ — $ (1 ) $ 4,774 Private preferred equity securities 50,759 — 2,095 (1,607 ) 1,439 52,686 Asset-backed securities 35,711 (8,759 ) 23,320 (24,581 ) (3,899 ) 21,792 Bank debt 10,246 — — — 475 10,721 Corporate bonds 9,095 (236 ) 1,183 (198 ) (159 ) 9,685 Other debt securities 3,312 — 5,120 (3,307 ) 2,143 7,268 Rights and warrants — 2 — — — 2 Real estate — — 2,357 — 398 2,755 Total assets $ 113,898 $ (8,993 ) $ 34,075 $ (29,693 ) $ 396 $ 109,683 Liabilities Derivative liabilities (free standing) $ (1,367 ) $ — $ — $ — $ (798 ) $ (2,165 ) Derivative liabilities (embedded) (180 ) — — — — (180 ) Total liabilities $ (1,547 ) $ — $ — $ — $ (798 ) $ (2,345 ) January 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (2) September 30, Assets Private common equity securities $ 4,799 $ — $ — $ — $ (25 ) $ 4,774 Private preferred equity securities 48,834 — 3,034 (2,102 ) 2,920 52,686 Asset-backed securities 17,628 16,437 57,346 (56,947 ) (12,672 ) 21,792 Bank debt 8,350 — 4 (310 ) 2,677 10,721 Corporate bonds 9,255 (262 ) 1,211 (719 ) 200 9,685 Other debt securities — — 5,120 — 2,148 7,268 Rights and warrants — 2 — — — 2 Real estate — — 2,357 — 398 2,755 Total assets $ 88,866 $ 16,177 $ 69,072 $ (60,078 ) $ (4,354 ) $ 109,683 Liabilities Derivative liabilities (free standing) $ (1,326 ) $ — $ — $ (38 ) $ (801 ) $ (2,165 ) Derivative liabilities (embedded) (92 ) — — — (88 ) (180 ) Total liabilities $ (1,418 ) $ — $ — $ (38 ) $ (889 ) $ (2,345 ) (1) Sales of investments measured at fair value using Level 3 inputs include the impact of the LP Transaction as described in Note 4. (2) 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	Prior to the change in the Company’s investment account structure, the Company used the following significant unobservable inputs in determining the fair value of the Level 3 investments held by the Company as of December 31, 2017 . Level 3 investments not presented in the table below were insignificant or do not have any unobservable inputs to disclose, as they were valued primarily using dealer quotes or at cost. 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 an_2

Securities purchased under an agreement to sell, securities sold under an agreement to repurchase and securities lending transactions (Tables)	9 Months Ended
	Sep. 30, 2018
Securities Purchased under Agreements to Resell [Abstract]
Schedule of Repurchase Agreements	The following table presents the contractual maturity of the repurchase agreements by class of collateral pledged as of December 31, 2017 : 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)	9 Months Ended
	Sep. 30, 2018
Due to and from Broker-Dealers and Clearing Organizations [Abstract]
Schedule of Due to (from) Brokers	As of September 30, 2018 and December 31, 2017 , the Company’s due from/to brokers were comprised of the following: September 30, December 31, Due from brokers Cash held at brokers $ 8,316 $ 295,467 Receivable from unsettled trades (1) 4,537 9,626 $ 12,853 $ 305,093 Due to brokers Borrowing from prime brokers $ 16 $ 759,267 Payable from unsettled trades — 10,938 $ 16 $ 770,205 (1) Receivables relating to securities sold by the Company were recorded as receivable from unsettled trades in due from brokers in the Company’s condensed consolidated balance sheets.

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Sep. 30, 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 as of September 30, 2018 and December 31, 2017 , categorized by primary underlying risk. Balances are presented on a gross basis. As of September 30, 2018 Listing currency (1) Fair Value Notional Amounts (2) Derivative Liabilities by Primary Underlying Risk Embedded derivative liabilities in reinsurance contracts (3) USD $ 110 $ 20,000 Total Derivative Liabilities (embedded) $ 110 $ 20,000 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 September 30, 2018 and 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 and nine months ended September 30, 2018 and 2017 . Realized and unrealized gains (losses) for the three and nine months ended September 30, 2018 include activity in the separate accounts up to the date of change in the investment structure described in Note 4 . 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) . Three months ended September 30, 2018 September 30, 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 $ (2,439 ) $ 2,943 $ 2,824 $ (4,059 ) Credit Default Swaps - Protection Sold (463 ) 452 (26 ) (288 ) Total Return Swaps - Long Contracts 1,667 (824 ) — 1,506 Equity Price Contracts for Differences - Long Contracts 7,164 (5,914 ) 5,021 13,949 Contracts for Differences - Short Contracts (1,141 ) (1,533 ) (511 ) (1,219 ) Total Return Swaps - Long Contracts (768 ) — 4,655 5,455 Total Return Swaps - Short Contracts (956 ) — (2,732 ) (4,519 ) Interest Rates Interest Rate Swaps — — (7 ) — Interest Rate Swaptions (1,819 ) 1,629 — (512 ) Sovereign Futures - Short Contracts (605 ) 644 (139 ) 1,284 Total Return Swaps - Long Contracts (7,569 ) 3,277 — — Foreign Currency Exchange Rates Foreign Currency Forward Contracts 6,785 (6,038 ) (1,863 ) (609 ) Foreign Currency Options - Purchased 567 (469 ) (529 ) 3 Foreign Currency Options - Sold (286 ) 292 1 (2 ) $ 137 $ (5,541 ) $ 6,694 $ 10,989 Embedded Derivatives Embedded derivatives in reinsurance contracts $ — $ 54 $ — $ — Total Derivative Liabilities (embedded) $ — $ 54 $ — $ — Nine months ended September 30, 2018 September 30, 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 $ (3,557 ) $ 921 $ 359 $ (4,029 ) Credit Default Swaps - Protection Sold (333 ) 744 11 (347 ) Total Return Swaps - Long Contracts 3,486 (2,000 ) (29 ) 1,469 Equity Price Contracts for Differences - Long Contracts 32,471 (15,098 ) 51,946 20,636 Contracts for Differences - Short Contracts 4,569 (3,608 ) (4,716 ) 1,726 Total Return Swaps - Long Contracts 16,791 (15,864 ) 8,517 14,002 Total Return Swaps - Short Contracts (17,329 ) 1,883 (6,475 ) (3,731 ) Interest Rates Interest Rate Swaps — — (3,104 ) (1,740 ) Interest Rate Swaptions (1,819 ) 1,228 522 (2,854 ) Sovereign Future Options - Long Contracts 403 — — — Sovereign Future Options - Short Contracts 50 — — — Sovereign Futures - Long Contracts 639 — — — Sovereign Futures - Short Contracts (1,166 ) — (8,795 ) 1,942 Total Return Swaps - Long Contracts (7,569 ) — — — Foreign Currency Exchange Rates Foreign Currency Forward Contracts (2,849 ) 4,403 (11,898 ) (1,877 ) Foreign Currency Future Options - Purchased (108 ) — — — Foreign Currency Options - Purchased 5,138 — (6,716 ) 1,165 Foreign Currency Options - Sold (771 ) — 2,185 (82 ) $ 28,046 $ (27,391 ) $ 21,807 $ 26,280 Embedded Derivatives Embedded derivatives in reinsurance contracts $ — $ 61 $ — $ (88 ) Total Derivative Liabilities (embedded) $ — $ 61 $ — $ (88 ) *Unrealized gain (loss) relates to derivatives still held at reporting date.
Schedule of gross and net amounts of derivative instruments that are subject to enforceable master netting arrangements or similar agreements	As of December 31, 2017 , the gross and net amounts of derivative instruments and repurchase agreements that were subject to enforceable master netting arrangements or similar agreements were as follows: 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 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 expe_2

Loss and loss adjustment expense reserves (Tables)	9 Months Ended
	Sep. 30, 2018
Insurance Loss Reserves [Abstract]
Schedule of loss and loss adjustment expense reserves	As of September 30, 2018 and December 31, 2017 , loss and loss adjustment expense reserves in the condensed consolidated balance sheets was comprised of the following: September 30, December 31, Case loss and loss adjustment expense reserves $ 120,714 $ 115,622 Incurred but not reported loss and loss adjustment expense reserves 701,005 604,260 Deferred gains on retroactive reinsurance contracts 461 688 $ 822,180 $ 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 nine months ended September 30, 2018 and 2017 : September 30, September 30, 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 254,265 295,379 Prior years (1) 11,061 (24,830 ) Total incurred loss and loss adjustment expenses 265,326 270,549 Net loss and loss adjustment expenses paid in respect of losses occurring in: Current year (58,652 ) (47,655 ) Prior years (103,572 ) (145,550 ) Total net paid losses (162,224 ) (193,205 ) Foreign currency translation (5,715 ) 15,310 Net reserves for loss and loss adjustment expenses, end of period 816,844 697,782 Plus: loss and loss adjustment expenses recoverable, end of period 1,576 1,587 Plus: deferred charges on retroactive reinsurance contracts 3,760 — Gross reserves for loss and loss adjustment expenses, end of period $ 822,180 $ 699,369

Management, performance and f_2

Management, performance and founders fees (Tables)	9 Months Ended
	Sep. 30, 2018
Management, Performance and Founders Fees [Abstract]
Schedule of investment fee expenses	The total management and performance fees to related parties, including our share of fees paid in connection with our investment in TP Fund, for the three and nine months ended September 30, 2018 were as follows: Three months ended Nine months ended September 30, September 30, September 30, September 30, Management fees - Third Point LLC $ 6,387 $ 9,507 $ 25,797 $ 26,751 Performance fees - Third Point Advisors LLC (1,082 ) 21,041 4,048 76,428 Management and performance fees to related parties as reported in the Company’s condensed consolidated statement of income 5,305 30,548 29,845 103,179 Management and performance fees included in net investment income from investment in related party investment fund 2,352 — 2,352 — Total management and performance fees to related parties $ 7,657 $ 30,548 $ 32,197 $ 103,179

Deposit contracts (Tables)

Deposit contracts (Tables)	9 Months Ended
	Sep. 30, 2018
Deposit Contracts, Liabilities [Abstract]
Schedule of deposit contracts	The following table represents activity for the deposit contracts for the nine months ended September 30, 2018 and year ended December 31, 2017 : September 30, December 31, Balance, beginning of period $ 129,133 $ 104,905 Consideration received 9,057 22,658 Consideration receivable 14,781 2,080 Net investment expense (income) allocation (1,609 ) 2,800 Payments (4,718 ) (3,545 ) Foreign currency translation 317 235 Balance, end of period $ 146,961 $ 129,133

Senior notes payable and lett_2

Senior notes payable and letter of credit facilities (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of credit facilities	As of September 30, 2018 , the Company had entered into the following letter of credit facilities: Letters of Credit Collateral Committed Capacity Issued Cash and Cash Equivalents Unsecured syndicated credit facility (1) $ 200,000 $ 138,087 n/a Secured letters of credit facilities 425,000 124,543 180,524 $ 625,000 $ 262,630 $ 180,524 (1) On July 31, 2018, Third Point Re, Third Point Re BDA and Third Point Re USA entered into an Unsecured Revolving Credit and Letter of Credit Facility Agreement (the “Credit Agreement”) with SunTrust Bank, SunTrust Robinson Humphrey, Inc., RBC Capital Markets and ING Capital. The Credit Agreement provides for the issuance of up to $200.0 million of letters of credit to support obligations in connection with the reinsurance business of Third Point Re BDA and Third Point Re USA. The Credit Agreement is fully and unconditionally guaranteed by Third Point Reinsurance Ltd.

Net investment income (Tables)

Net investment income (Tables)	9 Months Ended
	Sep. 30, 2018
Net Investment Income [Abstract]
Schedule of net investment income	Net investment income (loss) for the three and nine months ended September 30, 2018 and 2017 consisted of the following: Three months ended Nine months ended September 30, September 30, September 30, September 30, Net investment income (loss) by type Net realized gains on investments and investment derivatives $ 315,181 $ 25,993 $ 445,682 $ 183,939 Net change in unrealized gains (losses) on investments and investment derivatives (317,849 ) 75,016 (413,370 ) 199,830 Net gains (losses) on foreign currencies (3,144 ) 7,572 (5,761 ) 5,419 Dividend and interest income 13,757 17,355 51,474 57,062 Dividends paid on securities sold, not yet purchased (1,038 ) (1,537 ) (5,259 ) (3,205 ) Other expenses (3,266 ) (4,883 ) (15,618 ) (15,063 ) Management and performance fees to related parties (5,305 ) (30,548 ) (29,845 ) (103,179 ) Net investment loss from investment in related party investment fund (1) (1,926 ) — (1,926 ) — Net investment income (loss) $ (3,590 ) $ 88,968 $ 25,377 $ 324,803 (1) Effective August 31, 2018, Third Point Re, Third Point RE BDA and Third Point Re USA entered into a LPA to invest in TP Fund. As a result, the management and performance fees are presented within net investment income from investment in related party investment fund from the effective date of the transition. See Notes 4 and 11 for additional information regarding the LPA and related management and performance fees. The following table provides an additional breakdown of our net investment income (loss) by asset and liability type for the three and nine months ended September 30, 2018 and 2017 : Three months ended Nine months ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Net investment income (loss) by asset type Equity securities $ 30,317 $ 81,778 $ 70,873 $ 343,605 Private common equity securities (175 ) (65 ) (628 ) (26 ) Private preferred equity securities (806 ) 1,439 (2,680 ) 3,066 Total equities 29,336 83,152 67,565 346,645 Asset-backed securities 1,178 6,532 20,660 11,665 Bank debt 2,005 1,277 5,326 7,491 Corporate bonds 455 999 (2,958 ) 6,707 Municipal bonds 3,742 — 9,990 — U.S. Treasury securities 494 806 335 3,171 Sovereign debt (2,136 ) 9,835 (6,538 ) 21,683 Other debt securities (63 ) 2,417 406 2,417 Total debt securities 5,675 21,866 27,221 53,134 Options (8,908 ) (9,343 ) (15,527 ) (26,409 ) Rights and warrants 191 (16 ) 238 22 Real estate (687 ) 398 (186 ) 398 Trade claims (293 ) (716 ) (580 ) (497 ) Total other investments (9,697 ) (9,677 ) (16,055 ) (26,486 ) Net investment income (loss) in funds valued at NAV, excluding Third Point Enhanced LP (95 ) 2,216 (721 ) 8,939 Total net investment income from invested assets 25,219 97,557 78,010 382,232 Net investment income (loss) by liability type Equity securities (21,481 ) (6,144 ) (32,407 ) (13,611 ) Sovereign debt — — — 2 Corporate bonds (483 ) 350 (2,452 ) (1,819 ) Options 8,790 4,593 21,697 8,175 Total net investment loss from securities sold, not yet purchased (13,174 ) (1,201 ) (13,162 ) (7,253 ) Other investment income (losses) and other expenses not presented above Other investment expenses 1,949 (1,477 ) 924 (400 ) Net investment income (loss) on derivative contracts (5,404 ) 17,683 655 48,087 Net investment income (loss) on cash, including foreign exchange gain (loss) (6,021 ) 5,738 (15,366 ) (255 ) Net investment income (losses) on securities purchased under an agreement to sell and securities sold under an agreement to repurchase 3 — (238 ) (39 ) Withholding taxes reclassified to income tax expense 1,069 1,216 6,325 5,610 Total other investment income (losses) and other expenses (8,404 ) 23,160 (7,700 ) 53,003 Management and performance fees to related parties (5,305 ) (30,548 ) (29,845 ) (103,179 ) Net investment loss from investment in related party investment fund (1) (1,926 ) — (1,926 ) — Net investment income (loss) $ (3,590 ) $ 88,968 $ 25,377 $ 324,803 (1) Effective August 31, 2018, Third Point Re, Third Point RE BDA and Third Point Re USA entered into a LPA to invest in TP Fund. As a result, the management and performance fees are presented within net investment income from investment in related party investment fund from the effective date of the transition. See Note 4 and Note 11 for additional information regarding the LPA and related management and performance fees.
Equity Method Investment, Summarized Financial Information, Related Party Investment Fund	As a result of the Company’s holding in TP Fund and its contribution to the Company’s overall financial results, the Company includes the following summarized income statement of the TP Fund for the three and nine months ended September 30, 2018 and summarized balance sheet as of September 30, 2018 . This summarized income statement of TP Fund reflects the main components of total investment income and expenses of TP Fund. This summarized income statement is not a breakdown of the Company’s proportional investment income in TP Fund as presented in the Company’s condensed consolidated statement of income. Three and nine months ended TP Fund summarized income statement September 30, 2018 Investment loss Net realized loss from securities, derivative contracts and foreign currency translations $ (4,113 ) Net change in unrealized gain on securities, derivative contracts and foreign currency translations 3,654 Net income from currencies 2,606 Dividend and interest income 3,818 Total investment income 5,965 Expenses Management fees (2,834 ) Other expenses (5,685 ) Total expenses (8,519 ) Net loss $ (2,554 ) The following table is a summarized balance sheet of TP Fund as of September 30, 2018 and reflects the underlying assets and liabilities of TP Fund. This summarized balance sheet is not a breakdown of the Company’s proportional interests in the underlying assets and liabilities of TP Fund. TP Fund summarized balance sheet September 30, 2018 Assets Total investments in securities $ 2,962,324 Cash and cash equivalents 30,001 Due from brokers 199,675 Derivative assets, at fair value 13,689 Interest and dividends receivable 3,472 Other assets 370 Total assets 3,209,531 Liabilities Accounts payable and accrued expenses 5,284 Securities sold, not yet purchased, at fair value 355,600 Due to brokers 945,603 Derivative liabilities, at fair value 13,375 Interest and dividends payable 2,476 Subscriptions received in advance 30,000 Total liabilities 1,352,338 Total partners' capital $ 1,857,193

Other expenses (Tables)

Other expenses (Tables)	9 Months Ended
	Sep. 30, 2018
Other Income and Expenses [Abstract]
Schedule of other expenses	Other expenses for the three and nine months ended September 30, 2018 and 2017 consisted of the following: Three months ended Nine months ended September 30, September 30, September 30, September 30, Investment expense (income) on deposit liabilities $ (4,058 ) $ 1,160 $ (1,609 ) $ 1,472 Investment expense and change in fair value of embedded derivatives in reinsurance contracts 2,696 2,686 8,225 7,380 $ (1,362 ) $ 3,846 $ 6,616 $ 8,852

Income taxes (Tables)

Income taxes (Tables)	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Schedule of income tax expenses	For the three and nine months ended September 30, 2018 and 2017 , the Company recorded income tax expense, as follows: Three months ended Nine months ended September 30, September 30, September 30, September 30, Income tax expense (benefit) related to U.S. and U.K. subsidiaries (1) $ (1,180 ) $ 2,219 $ (1,968 ) $ 8,246 Change in uncertain tax positions (2) — 40 50 224 Withholding taxes on certain investment transactions (2) 1,069 1,216 6,325 5,610 $ (111 ) $ 3,475 $ 4,407 $ 14,080 (1) As of September 30, 2018 , the Company has recorded $0.9 million of net deferred tax assets, which are included in other assets in the condensed consolidated balance sheets. As of September 30, 2018 the net deferred tax asset was primarily the result of operating losses in the Company’s U.S. subsidiaries. The Company believes that it is more likely than not that the tax benefit will be realized. (2) Represents activity prior to the change in the Company’s investment account structure on August 31, 2018 as described in Note 4 .

Share capital (Tables)

Share capital (Tables)	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2018 and 2017 : Common shares 2018 2017 Common shares issued, beginning of period 107,227,347 106,501,299 Options exercised — 150,802 Restricted shares granted, net of forfeitures 50,644 36,418 Performance restricted shares granted, net of forfeitures and shares withheld 260,436 694,886 Retirement of treasury shares and shares repurchased (1) (13,730,258 ) — Warrants exercised, net (2) 361,556 — Common shares issued, end of period 94,169,725 107,383,405 Treasury shares, end of period — (3,944,920 ) Common shares outstanding, end of period 94,169,725 103,438,485 (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 nine months ended September 30, 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.

Share-based compensation (Table

Share-based compensation (Tables)	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2018 and 2017 : Three months ended Nine months ended September 30, September 30, September 30, September 30, Management and director options $ 60 $ 94 $ 215 $ 553 Restricted shares with service condition 166 196 445 474 Restricted shares with service and performance condition 2,172 350 4,296 2,987 $ 2,398 $ 640 $ 4,956 $ 4,014
Schedule of management and director options activity	The management and director options activity for the nine months ended September 30, 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 September 30, 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 September 30, 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 5,123,531 $ 10.04 3.3 years 5,123,531 $ 10.04 $15.05 - $16.89 1,917,145 15.93 3.5 years 1,875,285 15.95 $20.00 - $25.05 1,847,377 20.26 3.5 years 1,819,471 20.22 8,888,053 $ 13.43 3.4 years 8,818,287 $ 13.40
Schedule of restricted shares with service condition activity	Restricted share award activity for the nine months ended September 30, 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 50,644 13.45 Vested (32,756 ) 12.83 Balance as of September 30, 2018 36,097 $ 13.35
Schedule of restricted shares with performance condition activity	Restricted share award activity for the restricted shares with a service and performance condition for the nine months ended September 30, 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 554,456 369,633 14.02 Forfeited (288,700 ) — 14.00 Vested (115,757 ) (115,757 ) 14.00 Change in estimated restricted shares considered probable of vesting n/a 285,182 13.34 Balance as of September 30, 2018 2,005,378 1,426,261 $ 12.81

Non-controlling interests Nonco

Non-controlling interests Noncontrolling interests (Tables)	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2018 and 2017 : Redeemable noncontrolling interests in related party Noncontrolling interests in related party Total noncontrolling interests in related party September 30, September 30, September 30, September 30, September 30, September 30, Balance, beginning of period $ 108,219 $ — $ 5,407 $ 35,674 $ 113,626 $ 35,674 Changes in capital account allocation (1) (108,219 ) 16,813 (5,407 ) (30,433 ) (113,626 ) (13,620 ) Balance, end of period $ — $ 16,813 $ — $ 5,241 $ — $ 22,054 (1) Changes in capital account allocation include TP GP's redemption in conjunction with the change in the investment account structure. See Note 4 for additional information. 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 for the nine months ended September 30, 2018 and 2017 : Third Point Re BDA Third Point Re USA Total September 30, September 30, September 30, September 30, September 30, September 30, Balance, beginning of period $ 97,619 $ 30,358 $ 16,007 $ 5,316 $ 113,626 $ 35,674 Net income attributable to total noncontrolling interests in related party 141 2,503 82 657 223 3,160 Contributions (1) 564 2,865 80 354 644 3,219 Redemptions (2) (98,324 ) (17,999 ) (16,169 ) (2,000 ) (114,493 ) (19,999 ) Balance, end of period $ — $ 17,727 $ — $ 4,327 $ — $ 22,054 (1) Contributions include performance fees earned during the period. See Note 11 for additional information. (2) Redemptions include TP GP's redemption in conjunction with the change in the investment account structure. See Note 4 for additional information.

Earnings (loss) per share ava_2

Earnings (loss) per share available to Third Point Re common shareholders (Tables)	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2018 and 2017 : Three months ended Nine months ended September 30, September 30, September 30, September 30, Weighted-average number of common shares outstanding: ($ in thousands, except share and per share amounts) Basic number of common shares outstanding 95,671,385 101,391,145 98,768,442 102,553,346 Dilutive effect of options — 1,536,419 — 1,162,851 Dilutive effect of warrants — 1,416,696 — 1,067,832 Dilutive effect of restricted shares with service and performance condition — 335,314 — 256,222 Diluted number of common shares outstanding 95,671,385 104,679,574 98,768,442 105,040,251 Basic earnings (loss) per common share: Net income (loss) available to Third Point Re common shareholders $ (13,281 ) $ 54,685 $ (19,680 ) $ 233,449 Net income allocated to Third Point Re participating common shareholders — (55 ) — (256 ) Net income (loss) allocated to Third Point Re common shareholders $ (13,281 ) $ 54,630 $ (19,680 ) $ 233,193 Basic earnings (loss) per common share $ (0.14 ) $ 0.54 $ (0.20 ) $ 2.27 Diluted earnings (loss) per common share: Net income (loss) available to Third Point Re common shareholders $ (13,281 ) $ 54,685 $ (19,680 ) $ 233,449 Net income allocated to Third Point Re participating common shareholders — (53 ) — (250 ) Net income (loss) allocated to Third Point Re common shareholders $ (13,281 ) $ 54,632 $ (19,680 ) $ 233,199 Diluted earnings (loss) per common share $ (0.14 ) $ 0.52 $ (0.20 ) $ 2.22

Financial instruments with of_2

Financial instruments with off-balance sheet risk or concentrations of credit risk (Tables)	9 Months Ended
	Sep. 30, 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 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 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)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Schedule of operating segments	The following is a summary of the Company’s operating segment results for the three and nine months ended September 30, 2018 and 2017 : Three months ended September 30, 2018 September 30, 2017 Property and Casualty Reinsurance Total (1) Property and Casualty Reinsurance Total (1) Revenues Gross premiums written $ 30,064 $ 30,064 $ 174,539 $ 174,539 Gross premiums ceded — — — — Net premiums written 30,064 30,064 174,539 174,539 Change in net unearned premium reserves 97,929 97,929 (68,564 ) (68,564 ) Net premiums earned 127,993 127,993 105,975 105,975 Expenses Loss and loss adjustment expenses incurred, net 88,706 88,706 77,275 77,275 Acquisition costs, net 40,841 40,841 33,974 33,974 General and administrative expenses 4,763 4,763 7,291 7,291 Total expenses 134,310 134,310 118,540 118,540 Net underwriting loss $ (6,317 ) (6,317 ) $ (12,565 ) (12,565 ) Net investment income (loss) (3,590 ) 88,968 Corporate expenses (4,748 ) (5,927 ) Other income (expense) 1,362 (3,846 ) Interest expense (2,074 ) (2,074 ) Foreign exchange gains (losses) 1,979 (5,437 ) Income tax benefit (expense) 111 (3,475 ) Net income attributable to noncontrolling interests in related party (4 ) (959 ) Net income (loss) available to Third Point Re common shareholders $ (13,281 ) $ 54,685 Property and Casualty Reinsurance - Underwriting Ratios (2): Loss ratio 69.3 % 72.9 % Acquisition cost ratio 31.9 % 32.1 % Composite ratio 101.2 % 105.0 % General and administrative expense ratio 3.7 % 6.9 % Combined ratio 104.9 % 111.9 % (1) As a result of the change in the Company’s investment structure, the Company is no longer quantifying the net investment income on float and all non-underwriting income and expenses are presented as a reconciliation to the Company’s consolidated results. Prior year comparatives have been adjusted to conform with the revised presentation. (2) Underwriting ratios are calculated by dividing the related expense by net premiums earned. Nine months ended September 30, 2018 September 30, 2017 Property and Casualty Reinsurance Total (1) Property and Casualty Reinsurance Total (1) Revenues Gross premiums written $ 458,189 $ 458,189 $ 477,457 $ 477,457 Gross premiums ceded (18,125 ) (18,125 ) (2,550 ) (2,550 ) Net premiums written 440,064 440,064 474,907 474,907 Change in net unearned premium reserves (28,092 ) (28,092 ) (57,365 ) (57,365 ) Net premiums earned 411,972 411,972 417,542 417,542 Expenses Loss and loss adjustment expenses incurred, net 265,326 265,326 270,549 270,549 Acquisition costs, net 149,830 149,830 157,067 157,067 General and administrative expenses 14,550 14,550 23,252 23,252 Total expenses 429,706 429,706 450,868 450,868 Net underwriting loss $ (17,734 ) (17,734 ) $ (33,326 ) (33,326 ) Net investment income 25,377 324,803 Corporate expenses (14,138 ) (15,552 ) Other expenses (6,616 ) (8,852 ) Interest expense (6,154 ) (6,151 ) Foreign exchange gains (losses) 4,215 (10,233 ) Income tax expense (4,407 ) (14,080 ) Net income attributable to noncontrolling interests in related party (223 ) (3,160 ) Net income (loss) available to Third Point Re common shareholders $ (19,680 ) $ 233,449 Property and Casualty Reinsurance - Underwriting Ratios (2): Loss ratio 64.4 % 64.8 % Acquisition cost ratio 36.4 % 37.6 % Composite ratio 100.8 % 102.4 % General and administrative expense ratio 3.5 % 5.6 % Combined ratio 104.3 % 108.0 % (1) As a result of the change in the Company’s investment structure, the Company is no longer quantifying the net investment income on float and all non-underwriting income and expenses are presented as a reconciliation to the Company’s consolidated results. Prior year comparatives have been adjusted to conform with the revised presentation. (2) Underwriting ratios are calculated by dividing the related expense by net premiums earned.
Schedules of number of contracts that individually contributed more than 10% of total gross premiums written	Three months ended September 30, 2018 September 30, 2017 Property and Casualty Reinsurance Total (1) Property and Casualty Reinsurance Total (1) Revenues Gross premiums written $ 30,064 $ 30,064 $ 174,539 $ 174,539 Gross premiums ceded — — — — Net premiums written 30,064 30,064 174,539 174,539 Change in net unearned premium reserves 97,929 97,929 (68,564 ) (68,564 ) Net premiums earned 127,993 127,993 105,975 105,975 Expenses Loss and loss adjustment expenses incurred, net 88,706 88,706 77,275 77,275 Acquisition costs, net 40,841 40,841 33,974 33,974 General and administrative expenses 4,763 4,763 7,291 7,291 Total expenses 134,310 134,310 118,540 118,540 Net underwriting loss $ (6,317 ) (6,317 ) $ (12,565 ) (12,565 ) Net investment income (loss) (3,590 ) 88,968 Corporate expenses (4,748 ) (5,927 ) Other income (expense) 1,362 (3,846 ) Interest expense (2,074 ) (2,074 ) Foreign exchange gains (losses) 1,979 (5,437 ) Income tax benefit (expense) 111 (3,475 ) Net income attributable to noncontrolling interests in related party (4 ) (959 ) Net income (loss) available to Third Point Re common shareholders $ (13,281 ) $ 54,685 Property and Casualty Reinsurance - Underwriting Ratios (2): Loss ratio 69.3 % 72.9 % Acquisition cost ratio 31.9 % 32.1 % Composite ratio 101.2 % 105.0 % General and administrative expense ratio 3.7 % 6.9 % Combined ratio 104.9 % 111.9 % (1) As a result of the change in the Company’s investment structure, the Company is no longer quantifying the net investment income on float and all non-underwriting income and expenses are presented as a reconciliation to the Company’s consolidated results. Prior year comparatives have been adjusted to conform with the revised presentation. (2) Underwriting ratios are calculated by dividing the related expense by net premiums earned. Nine months ended September 30, 2018 September 30, 2017 Property and Casualty Reinsurance Total (1) Property and Casualty Reinsurance Total (1) Revenues Gross premiums written $ 458,189 $ 458,189 $ 477,457 $ 477,457 Gross premiums ceded (18,125 ) (18,125 ) (2,550 ) (2,550 ) Net premiums written 440,064 440,064 474,907 474,907 Change in net unearned premium reserves (28,092 ) (28,092 ) (57,365 ) (57,365 ) Net premiums earned 411,972 411,972 417,542 417,542 Expenses Loss and loss adjustment expenses incurred, net 265,326 265,326 270,549 270,549 Acquisition costs, net 149,830 149,830 157,067 157,067 General and administrative expenses 14,550 14,550 23,252 23,252 Total expenses 429,706 429,706 450,868 450,868 Net underwriting loss $ (17,734 ) (17,734 ) $ (33,326 ) (33,326 ) Net investment income 25,377 324,803 Corporate expenses (14,138 ) (15,552 ) Other expenses (6,616 ) (8,852 ) Interest expense (6,154 ) (6,151 ) Foreign exchange gains (losses) 4,215 (10,233 ) Income tax expense (4,407 ) (14,080 ) Net income attributable to noncontrolling interests in related party (223 ) (3,160 ) Net income (loss) available to Third Point Re common shareholders $ (19,680 ) $ 233,449 Property and Casualty Reinsurance - Underwriting Ratios (2): Loss ratio 64.4 % 64.8 % Acquisition cost ratio 36.4 % 37.6 % Composite ratio 100.8 % 102.4 % General and administrative expense ratio 3.5 % 5.6 % Combined ratio 104.3 % 108.0 % (1) As a result of the change in the Company’s investment structure, the Company is no longer quantifying the net investment income on float and all non-underwriting income and expenses are presented as a reconciliation to the Company’s consolidated results. Prior year comparatives have been adjusted to conform with the revised presentation. (2) Underwriting ratios are calculated by dividing the related expense by net premiums earned.
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 and nine months ended September 30, 2018 and 2017 : Three months ended Nine months ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Property (1) $ (3,578 ) (11.9 )% $ (3 ) — % $ (1,549 ) (0.3 )% $ (8,818 ) (1.9 )% Casualty 37,028 123.2 % 161,110 92.3 % 233,758 51.0 % 263,323 55.2 % Specialty (1) (3,386 ) (11.3 )% 13,432 7.7 % 221,639 48.4 % 113,601 23.8 % Total prospective reinsurance contracts 30,064 100.0 % 174,539 100.0 % 453,848 99.1 % 368,106 77.1 % Retroactive reinsurance contracts — — % — — % 4,341 0.9 % 109,351 22.9 % $ 30,064 100.0 % $ 174,539 100.0 % $ 458,189 100.0 % $ 477,457 100.0 % (1) The negative gross premium written amounts for the property and specialty lines of business were the result of reductions in premium estimates on certain contracts in the period.

Supplemental Guarantor Inform_2

Supplemental Guarantor Information (Tables)	9 Months Ended
	Sep. 30, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET As of September 30, 2018 Third Point Re TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Assets Total investments in securities $ — $ — $ 1,872,996 $ — $ 1,872,996 Cash and cash equivalents — 189 49,597 — 49,786 Restricted cash and cash equivalents — — 581,134 — 581,134 Subscription receivable from related party investment fund — — 30,000 — 30,000 Investment in subsidiaries 1,503,740 268,883 165,758 (1,938,381 ) — Due from brokers — — 12,853 — 12,853 Interest and dividends receivable — — 1,975 — 1,975 Reinsurance balances receivable — — 577,382 — 577,382 Deferred acquisition costs, net — — 231,286 — 231,286 Unearned premiums ceded — — 16,772 — 16,772 Loss and loss adjustment expenses recoverable — — 1,576 — 1,576 Amounts due from (to) affiliates 3,493 (3,948 ) 455 — — Other assets 2,079 10,149 854 — 13,082 Total assets $ 1,509,312 $ 275,273 $ 3,542,638 $ (1,938,381 ) $ 3,388,842 Liabilities Accounts payable and accrued expenses $ 1,402 $ 59 $ 7,739 $ — $ 9,200 Reinsurance balances payable — — 71,070 — 71,070 Deposit liabilities — — 146,961 — 146,961 Unearned premium reserves — — 693,333 — 693,333 Loss and loss adjustment expense reserves — — 822,180 — 822,180 Due to brokers — — 16 — 16 Participation agreement with related party investment fund — — 23,149 — 23,149 Interest and dividends payable — 1,026 131 — 1,157 Senior notes payable, net of deferred costs — 113,866 — — 113,866 Total liabilities 1,402 114,951 1,764,579 — 1,880,932 Redeemable noncontrolling interests in related party — — — — — Shareholders’ equity Common shares 9,417 — 1,239 (1,239 ) 9,417 Additional paid-in capital 924,153 165,990 1,537,183 (1,703,173 ) 924,153 Retained earnings (deficit) 574,340 (5,668 ) 239,637 (233,969 ) 574,340 Shareholders’ equity attributable to Third Point Re common shareholders 1,507,910 160,322 1,778,059 (1,938,381 ) 1,507,910 Noncontrolling interests in related party — — — — — Total shareholders’ equity 1,507,910 160,322 1,778,059 (1,938,381 ) 1,507,910 Total liabilities, noncontrolling interests and shareholders’ equity $ 1,509,312 $ 275,273 $ 3,542,638 $ (1,938,381 ) $ 3,388,842 CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2017 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Assets 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 (1) $ 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 (1) Negative balance of $8.8 million represents net deferred tax assets that are offset by net deferred tax liabilities in Third Point Re USA of $9.9 million , resulting in a net liability position as of December 31, 2017.
Condensed Consolidating Statement of Income	CONDENSED CONSOLIDATING STATEMENTS OF LOSS For the three months ended September 30, 2018 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 30,064 $ — $ 30,064 Gross premiums ceded — — — — — Net premiums written — — 30,064 — 30,064 Change in net unearned premium reserves — — 97,929 — 97,929 Net premiums earned — — 127,993 — 127,993 Net investment loss — — (3,590 ) — (3,590 ) Equity in losses of subsidiaries (11,100 ) (2,821 ) (11 ) 13,932 — Total revenues (11,100 ) (2,821 ) 124,392 13,932 124,403 Expenses Loss and loss adjustment expenses incurred, net — — 88,706 — 88,706 Acquisition costs, net — — 40,841 — 40,841 General and administrative expenses 2,181 13 7,317 — 9,511 Other expenses — — (1,362 ) — (1,362 ) Interest expense — 2,074 — — 2,074 Foreign exchange gains — — (1,979 ) — (1,979 ) Total expenses 2,181 2,087 133,523 — 137,791 Loss before income tax benefit (13,281 ) (4,908 ) (9,131 ) 13,932 (13,388 ) Income tax (expense) benefit — 438 (327 ) — 111 Net loss (13,281 ) (4,470 ) (9,458 ) 13,932 (13,277 ) Net income attributable to noncontrolling interests in related party — — (4 ) — (4 ) Net loss attributable to Third Point Re common shareholders $ (13,281 ) $ (4,470 ) $ (9,462 ) $ 13,932 $ (13,281 ) For the nine months ended September 30, 2018 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 458,189 $ — $ 458,189 Gross premiums ceded — — (18,125 ) — (18,125 ) Net premiums written — — 440,064 — 440,064 Change in net unearned premium reserves — — (28,092 ) — (28,092 ) Net premiums earned — — 411,972 — 411,972 Net investment income — — 25,377 — 25,377 Equity in losses of subsidiaries (14,138 ) (2,582 ) (42 ) 16,762 — Total revenues (14,138 ) (2,582 ) 437,307 16,762 437,349 Expenses Loss and loss adjustment expenses incurred, net — — 265,326 — 265,326 Acquisition costs, net — — 149,830 — 149,830 General and administrative expenses 5,542 35 23,111 — 28,688 Other expenses — — 6,616 — 6,616 Interest expense — 6,154 — — 6,154 Foreign exchange gains — — (4,215 ) — (4,215 ) Total expenses 5,542 6,189 440,668 — 452,399 Loss before income tax benefit (19,680 ) (8,771 ) (3,361 ) 16,762 (15,050 ) Income tax (expense) benefit — 1,300 (5,707 ) — (4,407 ) Net loss (19,680 ) (7,471 ) (9,068 ) 16,762 (19,457 ) Net income attributable to noncontrolling interests in related party — — (223 ) — (223 ) Net loss attributable to Third Point Re common shareholders $ (19,680 ) $ (7,471 ) $ (9,291 ) $ 16,762 $ (19,680 ) CONDENSED CONSOLIDATING STATEMENTS OF INCOME For the three months ended September 30, 2017 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 174,539 $ — $ 174,539 Gross premiums ceded — — — — — Net premiums written — — 174,539 — 174,539 Change in net unearned premium reserves — — (68,564 ) — (68,564 ) Net premiums earned — — 105,975 — 105,975 Net investment income — — 88,968 — 88,968 Equity in earnings (losses) of subsidiaries 55,847 5,473 (30 ) (61,290 ) — Total revenues 55,847 5,473 194,913 (61,290 ) 194,943 Expenses Loss and loss adjustment expenses incurred, net — — 77,275 — 77,275 Acquisition costs, net — — 33,974 — 33,974 General and administrative expenses 1,162 17 12,039 — 13,218 Other expenses — — 3,846 — 3,846 Interest expense — 2,074 — — 2,074 Foreign exchange losses — — 5,437 — 5,437 Total expenses 1,162 2,091 132,571 — 135,824 Income before income tax (expense) benefit 54,685 3,382 62,342 (61,290 ) 59,119 Income tax (expense) benefit — 732 (4,207 ) — (3,475 ) Net income 54,685 4,114 58,135 (61,290 ) 55,644 Net income attributable to noncontrolling interests in related party — — (959 ) — (959 ) Net income available to Third Point Re common shareholders $ 54,685 $ 4,114 $ 57,176 $ (61,290 ) $ 54,685 For the nine months ended September 30, 2017 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Revenues Gross premiums written $ — $ — $ 477,457 $ — $ 477,457 Gross premiums ceded — — (2,550 ) — (2,550 ) Net premiums written — — 474,907 — 474,907 Change in net unearned premium reserves — — (57,365 ) — (57,365 ) Net premiums earned — — 417,542 — 417,542 Net investment income — — 324,803 — 324,803 Equity in earnings (losses) of subsidiaries 237,060 19,305 (35 ) (256,330 ) — Total revenues 237,060 19,305 742,310 (256,330 ) 742,345 Expenses Loss and loss adjustment expenses incurred, net — — 270,549 — 270,549 Acquisition costs, net — — 157,067 — 157,067 General and administrative expenses 3,611 37 35,156 — 38,804 Other expenses — — 8,852 — 8,852 Interest expense — 6,151 — — 6,151 Foreign exchange losses — — 10,233 — 10,233 Total expenses 3,611 6,188 481,857 — 491,656 Income before income tax (expense) benefit 233,449 13,117 260,453 (256,330 ) 250,689 Income tax (expense) benefit — 2,166 (16,246 ) — (14,080 ) Net income 233,449 15,283 244,207 (256,330 ) 236,609 Net income attributable to noncontrolling interests in related party — — (3,160 ) — (3,160 ) Net income available to Third Point Re common shareholders $ 233,449 $ 15,283 $ 241,047 $ (256,330 ) $ 233,449
Condensed Consolidating Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2018 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Net loss $ (19,680 ) $ (7,471 ) $ (9,068 ) $ 16,762 $ (19,457 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Equity in (earnings) losses of subsidiaries 14,138 2,582 42 (16,762 ) — Share compensation expense 444 — 4,512 — 4,956 Net interest income on deposit liabilities — — (1,609 ) — (1,609 ) Net realized and unrealized gain on investments and derivatives — — (32,373 ) — (32,373 ) Net unrealized loss on investment in related party investment fund — — 1,926 — 1,926 Net foreign exchange gains — — (4,215 ) — (4,215 ) Amortization of premium and accretion of discount, net — 133 2,541 — 2,674 Changes in assets and liabilities: Reinsurance balances receivable — — (87,911 ) — (87,911 ) Deferred acquisition costs, net — — 27,507 — 27,507 Unearned premiums ceded — — (15,723 ) — (15,723 ) Loss and loss adjustment expenses recoverable — — (463 ) — (463 ) Other assets (1,415 ) (10,149 ) 5,807 — (5,757 ) Interest and dividends receivable, net — (2,029 ) (3,244 ) — (5,273 ) Unearned premium reserves — — 43,815 — 43,815 Loss and loss adjustment expense reserves — — 107,325 — 107,325 Accounts payable and accrued expenses 639 8,864 (32,264 ) — (22,761 ) Reinsurance balances payable — — 29,624 — 29,624 Amounts due from (to) affiliates (4,781 ) 4,360 421 — — Net cash provided by (used in) operating activities (10,655 ) (3,710 ) 36,650 — 22,285 Investing activities Contributions to related party investment fund — — (88,658 ) — (88,658 ) Purchases of investments — — (3,235,659 ) — (3,235,659 ) Proceeds from sales and maturities of investments — — 3,222,239 — 3,222,239 Purchases of investments to cover short sales — — (853,798 ) — (853,798 ) Proceeds from short sales of investments — — 800,508 — 800,508 Change in due to/from brokers, net — — 471,352 — 471,352 Decrease in securities sold under an agreement to repurchase — — (29,618 ) — (29,618 ) Net cash provided by investing activities — — 286,366 — 286,366 Financing activities Taxes paid on withholding shares (74 ) — — — (74 ) Purchases of Third Point Re common shares under share repurchase program (133,380 ) — — — (133,380 ) Increase in deposit liabilities, net — — 4,340 — 4,340 Change in total noncontrolling interests in related party, net — — (97,950 ) — (97,950 ) Dividend received by (paid to) parent 144,100 3,700 (147,800 ) — — Net cash provided by (used in) financing activities 10,646 3,700 (241,410 ) — (227,064 ) Net increase (decrease) in cash, cash equivalents and restricted cash (9 ) (10 ) 81,606 — 81,587 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 $ — $ 189 $ 630,731 $ — $ 630,920 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2017 Third TPRUSA Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Net income $ 233,449 $ 15,283 $ 244,207 $ (256,330 ) $ 236,609 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in (earnings) losses of subsidiaries (237,060 ) (19,305 ) 35 256,330 — Share compensation expense 184 — 3,830 — 4,014 Net interest expense on deposit liabilities — — 1,472 — 1,472 Net realized and unrealized gain on investments and derivatives — — (383,681 ) — (383,681 ) Net foreign exchange losses — — 10,233 — 10,233 Amortization of premium and accretion of discount, net — 133 (585 ) — (452 ) Changes in assets and liabilities: Reinsurance balances receivable — — (77,444 ) — (77,444 ) Deferred acquisition costs, net — — (1,473 ) — (1,473 ) Unearned premiums ceded — — (934 ) — (934 ) Loss and loss adjustment expenses recoverable — — (1,586 ) — (1,586 ) Other assets (97 ) 5,507 2,808 — 8,218 Interest and dividends receivable, net — (2,031 ) 2,800 — 769 Unearned premium reserves — — 58,299 — 58,299 Loss and loss adjustment expense reserves — — 78,931 — 78,931 Accounts payable and accrued expenses (96 ) (7,960 ) 22,229 — 14,173 Reinsurance balances payable — — 11,462 — 11,462 Performance fees payable to related party — — 73,210 — 73,210 Amounts due from (to) affiliates 1,351 (4,806 ) 3,455 — — Net cash provided by (used in) operating activities (2,269 ) (13,179 ) 47,268 — 31,820 Investing activities Purchases of investments — — (2,238,167 ) — (2,238,167 ) Proceeds from sales and maturities of investments — — 2,536,688 — 2,536,688 Purchases of investments to cover short sales — — (440,242 ) — (440,242 ) Proceeds from short sales of investments — — 735,132 — 735,132 Change in due to/from brokers, net — — (400,566 ) — (400,566 ) Net cash provided by investing activities — — 192,845 — 192,845 Financing activities Proceeds from issuance of Third Point Re common shares, net of costs 1,504 — — — 1,504 Purchases of Third Point Re common shares under share repurchase program (40,864 ) — — — (40,864 ) Increase in deposit liabilities, net — — 6,380 — 6,380 Change in total noncontrolling interests in related party, net — — (16,780 ) — (16,780 ) Dividend received by (paid to) parent 40,000 13,300 (53,300 ) — — Net cash provided by (used in) financing activities 640 13,300 (63,700 ) — (49,760 ) Net increase (decrease) in cash, cash equivalents and restricted cash (1,629 ) 121 176,413 — 174,905 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 $ — $ 200 $ 483,596 $ — $ 483,796

Significant accounting polici_2

Significant accounting policies Recent accounting pronouncements (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Accounting Standards Update 2016-18 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Prior Period Reclassification Adjustment	$ 178.4

Restricted cash and cash equi_3

Restricted cash and cash equivalents and restricted investments (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 49,786	$ 8,197
Restricted cash and cash equivalents	581,134	541,136
Total cash, cash equivalents and restricted cash	630,920	549,333	$ 483,796	$ 308,891
Restricted Investments	244,876	326,429
Total restricted cash and cash equivalents and investments	875,796	875,762
Restricted cash securing letter of credit facilities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash and cash equivalents	180,524	250,487
Restricted cash securing other reinsurance contracts
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash and cash equivalents	$ 400,610	$ 290,649

Investments - Schedule of the s

Investments - Schedule of the separate account managed by TP LLC (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Assets
Total assets	$ 2,479,149	$ 3,918,480
Liabilities and noncontrolling interests in related party
Total liabilities and shareholders' equity	24,036	1,328,585
Total net investments managed by Third Point LLC	2,455,113	2,589,895
Total investments in securities, including investment in related party investment fund
Assets
Total assets	1,872,800	2,995,097
Cash and cash equivalents
Assets
Total assets	10,387	8
Restricted cash and cash equivalents
Assets
Total assets	581,134	541,136
Due from brokers
Assets
Total assets	12,853	305,093
Derivative assets, at fair value
Assets
Total assets	0	73,372
Interest and dividends receivable
Assets
Total assets	1,975	3,774
Accounts payable and accrued expenses
Liabilities and noncontrolling interests in related party
Total liabilities and shareholders' equity	740	5,137
Securities sold, not yet purchased
Liabilities and noncontrolling interests in related party
Total liabilities and shareholders' equity	0	394,278
Securities sold under an agreement to repurchase
Liabilities and noncontrolling interests in related party
Total liabilities and shareholders' equity	0	29,618
Due to brokers
Liabilities and noncontrolling interests in related party
Total liabilities and shareholders' equity	16	770,205
Derivative liabilities, at fair value
Liabilities and noncontrolling interests in related party
Total liabilities and shareholders' equity	0	14,503
Participation agreement [Member]
Liabilities and noncontrolling interests in related party
Total liabilities and shareholders' equity	23,149	0
Interest and dividends payable
Liabilities and noncontrolling interests in related party
Total liabilities and shareholders' equity	131	1,218
Total noncontrolling interests in related party
Liabilities and noncontrolling interests in related party
Total liabilities and shareholders' equity	$ 0	$ 113,626

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Participation agreement with related party investment fund	$ 23,149	$ 0
Transfers of Financial Assets Accounted for as Sale, Initial Fair Value of Assets Obtained as Proceeds	$ 1,600,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Investments
Securities valued based on dealer quotes or other quoted market prices for similar securities					$ 234.4
Percent of securities valued based on dealer quotes or other quoted market prices for similar securities					7.60%
Securities sold, not yet purchased, valued based on dealer quotes or other quoted market prices for similar securities					$ 2.1
Percent of securities sold, not yet purchased, valued based on dealer quotes or other quoted market prices for similar securities					0.50%
Private common equity securities					$ 83.4
investments fair valued by the Company’s Investment Manager					2.70%
Transfer of Assets from Level 1 to Level 2	$ 0		$ 0		$ 0
Equity securities
Investments
Trading securities, change in unrealized holding gains (loss)	0	$ 47.7	0	$ 214.5
Debt securities
Investments
Trading securities, change in unrealized holding gains (loss)	$ (1.6)	$ (6.9)	$ (6.9)	$ (88.2)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of investments, categorized by the level of the fair value hierarchy (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Assets
Equity securities		$ 2,221,130
Private common equity securities		4,794
Private preferred equity securities		57,126
Total equities	$ 0	2,283,050
Asset-backed securities		225,499
Bank debt		14,550
Corporate bonds		77,086
U.S. Treasury securities	201,319	249,994
Sovereign debt	43,557	102,569
Other debt securities		5,460
Total debt securities	244,876	675,158
Options		4,951
Rights and warrants		603
Real estate		6,831
Trade claims		7,496
Total other investments		19,881
Derivative assets, at fair value	0	73,372
Total assets		3,051,461
Investments in funds valued at NAV	1,628,120	17,850
Assets Including Alternative Investments, Fair Value Disclosure	1,872,996	3,069,311
Participation agreement with related party investment fund	23,149	0
Liabilities
Equity securities		364,215
Corporate bonds		21,699
Options		8,364
Total securities sold, not yet purchased	0	394,278
Derivative liabilities, at fair value	0	14,503
Derivative liabilities (embedded)	110	171
Total liabilities	110	408,952
Quoted prices in active markets (Level 1)
Assets
Equity securities		2,200,379
Private common equity securities		0
Private preferred equity securities		0
Total equities		2,200,379
Asset-backed securities		0
Bank debt		0
Corporate bonds		0
U.S. Treasury securities	0	0
Sovereign debt	0	0
Other debt securities		0
Total debt securities	0	0
Options		1,973
Rights and warrants		0
Real estate		0
Trade claims		0
Total other investments		1,973
Derivative assets, at fair value		0
Total assets		2,202,352
Liabilities
Equity securities		364,215
Corporate bonds		0
Options		2,668
Total securities sold, not yet purchased		366,883
Derivative liabilities, at fair value		0
Derivative liabilities (embedded)	0	0
Total liabilities	0	366,883
Significant other observable inputs (Level 2)
Assets
Equity securities		20,751
Private common equity securities		0
Private preferred equity securities		0
Total equities		20,751
Asset-backed securities		198,191
Bank debt		14,550
Corporate bonds		67,218
U.S. Treasury securities	201,319	249,994
Sovereign debt	43,557	102,569
Other debt securities		4,747
Total debt securities	244,876	637,269
Options		2,978
Rights and warrants		168
Real estate		0
Trade claims		7,496
Total other investments		10,642
Derivative assets, at fair value		73,372
Total assets		742,034
Liabilities
Equity securities		0
Corporate bonds		21,699
Options		5,696
Total securities sold, not yet purchased		27,395
Derivative liabilities, at fair value		12,418
Derivative liabilities (embedded)	0	0
Total liabilities	0	39,813
Significant unobservable inputs (Level 3)
Assets
Equity securities		0
Private common equity securities		4,794
Private preferred equity securities		57,126
Total equities		61,920
Asset-backed securities		27,308
Bank debt		0
Corporate bonds		9,868
U.S. Treasury securities	0	0
Sovereign debt	0	0
Other debt securities		713
Total debt securities	0	37,889
Options		0
Rights and warrants		435
Real estate		6,831
Trade claims		0
Total other investments		7,266
Derivative assets, at fair value		0
Total assets		107,075
Liabilities
Equity securities		0
Corporate bonds		0
Options		0
Total securities sold, not yet purchased		0
Derivative liabilities, at fair value		2,085
Derivative liabilities (embedded)	110	171
Total liabilities	$ 110	$ 2,256

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of reconciliation of the balances for all investments measured at fair value using significant unobservable inputs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Assets
Asset fair value, beginning balance	$ 113,899	$ 113,898	$ 107,075	$ 88,866
Transfers in to (out of) Level 3 (1)	0	(8,993)	0	16,177
Purchases	46,621	34,075	76,973	69,072
Sales	(159,893)	(29,693)	(177,570)	(60,078)
Realized and Unrealized Gains (Losses)	(627)	396	(6,478)	(4,354)
Asset fair value, ending balance	0	109,683	0	109,683
Liabilities
Liability fair value, beginning balance	(2,003)	(1,547)	(2,256)	(1,418)
Transfers in to (out of) Level 3 (1)	0	0	0	0
Purchases	0	0	0	0
Sales	(1,823)	0	(1,797)	(38)
Realized and Unrealized Gains (Losses)	70	(798)	349	(889)
Liability fair value, ending balance	(110)	(2,345)	(110)	(2,345)
Total change in unrealized (gains) losses on fair value of assets using significant unobservable inputs	0	100	0	(3,200)
Derivative liabilities (free standing)
Liabilities
Liability fair value, beginning balance	(1,839)	(1,367)	(2,085)	(1,326)
Transfers in to (out of) Level 3 (1)	0	0	0	0
Purchases	0	0	0	0
Sales	(1,823)	0	(1,797)	(38)
Realized and Unrealized Gains (Losses)	16	(798)	288	(801)
Liability fair value, ending balance	0	(2,165)	0	(2,165)
Derivative liabilities (embedded)
Liabilities
Liability fair value, beginning balance	(164)	(180)	(171)	(92)
Transfers in to (out of) Level 3 (1)	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Realized and Unrealized Gains (Losses)	54	0	61	(88)
Liability fair value, ending balance	(110)	(180)	(110)	(180)
Private common equity securities
Assets
Asset fair value, beginning balance	4,362	4,775	4,794	4,799
Transfers in to (out of) Level 3 (1)	0	0	0	0
Purchases	533	0	567	0
Sales	(4,714)	0	(4,726)	0
Realized and Unrealized Gains (Losses)	(181)	(1)	(635)	(25)
Asset fair value, ending balance	0	4,774	0	4,774
Private preferred equity securities
Assets
Asset fair value, beginning balance	56,769	50,759	57,126	48,834
Transfers in to (out of) Level 3 (1)	0	0	0	0
Purchases	37,774	2,095	38,376	3,034
Sales	(93,666)	(1,607)	(91,065)	(2,102)
Realized and Unrealized Gains (Losses)	(877)	1,439	(4,437)	2,920
Asset fair value, ending balance	0	52,686	0	52,686
Asset-backed securities
Assets
Asset fair value, beginning balance	28,139	35,711	27,308	17,628
Transfers in to (out of) Level 3 (1)	0	(8,759)	0	16,437
Purchases	7,348	23,320	35,905	57,346
Sales	(35,515)	(24,581)	(60,906)	(56,947)
Realized and Unrealized Gains (Losses)	28	(3,899)	(2,307)	(12,672)
Asset fair value, ending balance	0	21,792	0	21,792
Bank debt
Assets
Asset fair value, beginning balance		10,246		8,350
Transfers in to (out of) Level 3 (1)		0		0
Purchases		0		4
Sales		0		(310)
Realized and Unrealized Gains (Losses)		475		2,677
Asset fair value, ending balance		10,721		10,721
Corporate bonds
Assets
Asset fair value, beginning balance	9,968	9,095	9,868	9,255
Transfers in to (out of) Level 3 (1)	0	(236)	0	(262)
Purchases	869	1,183	1,372	1,211
Sales	(10,976)	(198)	(11,763)	(719)
Realized and Unrealized Gains (Losses)	139	(159)	523	200
Asset fair value, ending balance	0	9,685	0	9,685
Other debt securities
Assets
Asset fair value, beginning balance		3,312	713	0
Transfers in to (out of) Level 3 (1)		0	0	0
Purchases		5,120	0	5,120
Sales		(3,307)	(913)	0
Realized and Unrealized Gains (Losses)		2,143	200	2,148
Asset fair value, ending balance	0	7,268	0	7,268
Rights and warrants
Assets
Asset fair value, beginning balance	424	0	435	0
Transfers in to (out of) Level 3 (1)	0	2	0	2
Purchases	97	0	753	0
Sales	(712)	0	(1,380)	0
Realized and Unrealized Gains (Losses)	191	0	192	0
Asset fair value, ending balance	0	2	0	2
Real estate
Assets
Asset fair value, beginning balance	7,351	0	6,831	0
Transfers in to (out of) Level 3 (1)	0	0	0	0
Purchases	0	2,357	0	2,357
Sales	(6,664)	0	(6,817)	0
Realized and Unrealized Gains (Losses)	(687)	398	(14)	398
Asset fair value, ending balance	0	$ 2,755	0	$ 2,755
Derivative [Member]
Assets
Asset fair value, beginning balance	6,886
Transfers in to (out of) Level 3 (1)	0
Purchases	0
Sales	(7,646)
Realized and Unrealized Gains (Losses)	760
Asset fair value, ending balance	$ 0		$ 0

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of unobservable inputs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Fair Value Inputs, Assets, Quantitative Information
Embedded Derivative, Fair Value of Embedded Derivative Liability	$ 171	$ 110
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	107,075	0	$ 113,899	$ 109,683	$ 113,898	$ 88,866
Significant unobservable inputs (Level 3)
Fair Value Inputs, Assets, Quantitative Information
Embedded Derivative, Fair Value of Embedded Derivative Liability	$ 171	$ 110
Significant unobservable inputs (Level 3) | Private Equity Funds | Market Approach Valuation Technique | Minimum
Fair Value Inputs, Assets, Quantitative Information
Volatility	35.00%
Fair Value Inputs, Discount Rate	0.00%
Fair Value Assumptions, Exit Term	6 months
Fair Value Assumptions, Multiples	7.8
Significant unobservable inputs (Level 3) | Private Equity Funds | Market Approach Valuation Technique | Maximum
Fair Value Inputs, Assets, Quantitative Information
Volatility	65.00%
Fair Value Inputs, Discount Rate	0.00%
Fair Value Assumptions, Exit Term	1 year 9 months 20 days
Fair Value Assumptions, Multiples	24.4
Significant unobservable inputs (Level 3) | Real Estate | Discounted Cash Flow Valuation Technique
Fair Value Inputs, Assets, Quantitative Information
Fair Value Inputs, Discount Rate	9.50%
Significant unobservable inputs (Level 3) | Real Estate | Discounted Cash Flow Valuation Technique | Minimum
Fair Value Inputs, Assets, Quantitative Information
Fair Value Inputs, Cap Rate	6.50%
Significant unobservable inputs (Level 3) | Real Estate | Discounted Cash Flow Valuation Technique | Maximum
Fair Value Inputs, Assets, Quantitative Information
Fair Value Inputs, Cap Rate	10.00%
Significant unobservable inputs (Level 3) | Other debt securities | Discounted Cash Flow Valuation Technique
Fair Value Inputs, Assets, Quantitative Information
Fair Value Inputs, Cap Rate	10.00%
Significant unobservable inputs (Level 3) | Rights and warrants | Market Approach Valuation Technique | Minimum
Fair Value Inputs, Assets, Quantitative Information
Fair Value Assumptions, Multiples	3.8
Significant unobservable inputs (Level 3) | Rights and warrants | Market Approach Valuation Technique | Maximum
Fair Value Inputs, Assets, Quantitative Information
Fair Value Assumptions, Multiples	4.6
Significant unobservable inputs (Level 3) | Rights and warrants | Discounted Cash Flow Valuation Technique
Fair Value Inputs, Assets, Quantitative Information
Fair Value Inputs, Discount Rate	13.50%
Fair Value Assumptions, Exit Term	5 years

Securities purchased under an_3

Securities purchased under an agreement to sell, securities sold under an agreement to repurchase and securities lending transactions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
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	$ 29,618
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
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	10,774
30 - 90 days | Asset-backed securities
Investment Holdings [Line Items]
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	18,844
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

Due from_to brokers (Details)

Due from/to brokers (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Due from brokers
Cash held at brokers	$ 8,316	$ 295,467
Receivable from unsettled trades (1)	4,537	9,626
Due from brokers	12,837
Due to brokers
Borrowing from prime brokers	16	759,267
Payable from unsettled trades	0	10,938
Payables to Broker-Dealers and Clearing Organizations	16	770,205
Collateral	$ 180,524	867,600
Non-US
Due from brokers
Cash held at brokers		$ 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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Derivative
Derivative assets, at fair value	$ 0		$ 0		$ 73,372
Derivative Assets, Notional Amount					944,973
Derivative liabilities, at fair value	0		0		14,503
Derivative Liabilities, Notional Amount					864,947
Realized Gain (Loss)	137	$ 6,694	28,046	$ 21,807
Unrealized Gain (Loss)	(5,541)	10,989	(27,391)	26,280
Credit Default Swaps - Protection Purchased
Derivative
Derivative assets, at fair value					8,205
Derivative Assets, Notional Amount					50,593
Derivative liabilities, at fair value					1,250
Derivative Liabilities, Notional Amount					19,418
Realized Gain (Loss)	(2,439)	2,824	(3,557)	359
Unrealized Gain (Loss)	2,943	(4,059)	921	(4,029)
Total Return Swaps - Long Contracts
Derivative
Derivative assets, at fair value					25,245
Derivative Assets, Notional Amount					25,245
Realized Gain (Loss)	1,667	0	3,486	(29)
Unrealized Gain (Loss)	(824)	1,506	(2,000)	1,469
Credit Default Swaps - Protection Sold
Derivative
Derivative liabilities, at fair value					2,085
Derivative Liabilities, Notional Amount					2,351
Realized Gain (Loss)	(463)	(26)	(333)	11
Unrealized Gain (Loss)	452	(288)	744	(347)
Contracts for Differences | Long Contracts / Purchased
Derivative
Derivative assets, at fair value					17,298
Derivative Assets, Notional Amount					163,868
Derivative liabilities, at fair value					2,200
Derivative Liabilities, Notional Amount					93,200
Realized Gain (Loss)	7,164	5,021	32,471	51,946
Unrealized Gain (Loss)	(5,914)	13,949	(15,098)	20,636
Contracts for Differences | Short Contracts / Sold
Derivative
Derivative assets, at fair value					4,384
Derivative Assets, Notional Amount					31,992
Derivative liabilities, at fair value					776
Derivative Liabilities, Notional Amount					8,483
Realized Gain (Loss)	(1,141)	(511)	4,569	(4,716)
Unrealized Gain (Loss)	(1,533)	(1,219)	(3,608)	1,726
Total Return Swaps | Long Contracts / Purchased
Derivative
Derivative assets, at fair value					15,936
Derivative Assets, Notional Amount					96,388
Derivative liabilities, at fair value					73
Derivative Liabilities, Notional Amount					50,858
Realized Gain (Loss)	(768)	4,655	16,791	8,517
Unrealized Gain (Loss)	0	5,455	(15,864)	14,002
Total Return Swaps | Short Contracts / Sold
Derivative
Derivative assets, at fair value					1
Derivative Assets, Notional Amount					0
Derivative liabilities, at fair value					1,885
Derivative Liabilities, Notional Amount					52,657
Realized Gain (Loss)	(956)	(2,732)	(17,329)	(6,475)
Unrealized Gain (Loss)	0	(4,519)	1,883	(3,731)
Interest Rate Swaps
Derivative
Realized Gain (Loss)	0	(7)	0	(3,104)
Unrealized Gain (Loss)	0	0	0	(1,740)
Interest Rate Swaptions
Derivative
Derivative assets, at fair value					539
Derivative Assets, Notional Amount					64,950
Derivative liabilities, at fair value					70
Derivative Liabilities, Notional Amount					64,482
Realized Gain (Loss)	(1,819)	0	(1,819)	522
Unrealized Gain (Loss)	1,629	(512)	1,228	(2,854)
Futures | Long Contracts / Purchased
Derivative
Realized Gain (Loss)			403	0
Unrealized Gain (Loss)			0	0
Futures | Short Contracts / Sold
Derivative
Realized Gain (Loss)			50	0
Unrealized Gain (Loss)			0	0
Sovereign Debt Futures - Short Contracts | Short Contracts / Sold
Derivative
Realized Gain (Loss)	(605)	(139)	(1,166)	(8,795)
Unrealized Gain (Loss)	644	1,284	0	1,942
Total Return Swap [Member] | Long Contracts / Purchased
Derivative
Realized Gain (Loss)	(7,569)	0	(7,569)	0
Unrealized Gain (Loss)	3,277	0	0	0
Sovereign Futures | Long Contracts / Purchased
Derivative
Realized Gain (Loss)			639	0
Unrealized Gain (Loss)			0	0
Foreign Currency Forward Contracts
Derivative
Derivative assets, at fair value					1,764
Derivative Assets, Notional Amount					511,937
Derivative liabilities, at fair value					6,164
Derivative Liabilities, Notional Amount					573,498
Realized Gain (Loss)	6,785	(1,863)	(2,849)	(11,898)
Unrealized Gain (Loss)	(6,038)	(609)	4,403	(1,877)
Foreign Currency Future Options - Purchased | Long Contracts / Purchased
Derivative
Realized Gain (Loss)			(108)	0
Unrealized Gain (Loss)			0	0
Foreign Currency Options | Long Contracts / Purchased
Derivative
Realized Gain (Loss)	567	(529)	5,138	(6,716)
Unrealized Gain (Loss)	(469)	3	0	1,165
Foreign Currency Options | Short Contracts / Sold
Derivative
Realized Gain (Loss)	(286)	1	(771)	2,185
Unrealized Gain (Loss)	292	(2)	0	(82)
Embedded derivatives in reinsurance contracts
Derivative
Derivative liabilities, at fair value	110		110		171
Derivative Liabilities, Notional Amount	20,000		20,000		20,000
Realized Gain (Loss)	0	0	0	0
Unrealized Gain (Loss)	54	0	61	(88)
Derivative liabilities (embedded)
Derivative
Derivative liabilities, at fair value	110		110		171
Derivative Liabilities, Notional Amount	20,000		20,000		$ 20,000
Realized Gain (Loss)	0	0	0	0
Unrealized Gain (Loss)	$ 54	$ 0	$ 61	$ (88)

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) $ in Millions	Dec. 31, 2017USD ($)
Derivative
Derivative credit liability	$ 3.6
OTC Option Asset	3
OTC Option Liability	5.7
Derivative Instruments with Credit-Risk-Related Contingent Features
Derivative
Right to reclaim cash	$ 103

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	Sep. 30, 2018	Dec. 31, 2017
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial assets, derivative assets and collateral received	$ 0	$ 73,372
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial liabilities, derivative liabilities and collateral pledged	$ 0	14,503
Financial assets, derivative assets and collateral received
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial assets, derivative assets and collateral received		76,350
Financial Instruments		16,583
Cash Collateral Received		3,222
Net Amount		56,545
Financial assets, derivative assets and collateral received | Counterparty 1
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial assets, derivative assets and collateral received		167
Financial Instruments		167
Cash Collateral Received		0
Net Amount		0
Financial assets, derivative assets and collateral received | Counterparty 2
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial assets, derivative assets and collateral received		1,343
Financial Instruments		706
Cash Collateral Received		0
Net Amount		637
Financial assets, derivative assets and collateral received | Counterparty 3
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial assets, derivative assets and collateral received		37,313
Financial Instruments		2,705
Cash Collateral Received		0
Net Amount		34,608
Financial assets, derivative assets and collateral received | Counterparty 4
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial assets, derivative assets and collateral received		2,683
Financial Instruments		2,683
Cash Collateral Received		0
Net Amount		0
Financial assets, derivative assets and collateral received | Counterparty 5
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial assets, derivative assets and collateral received		14,798
Financial Instruments		6,647
Cash Collateral Received		0
Net Amount		8,151
Financial assets, derivative assets and collateral received | Counterparty 6
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial assets, derivative assets and collateral received		5,338
Financial Instruments		9
Cash Collateral Received		2,122
Net Amount		3,207
Financial assets, derivative assets and collateral received | Counterparty 7
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial assets, derivative assets and collateral received		1,377
Financial Instruments		0
Cash Collateral Received		1,100
Net Amount		277
Financial assets, derivative assets and collateral received | Counterparty 8
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial assets, derivative assets and collateral received		12,628
Financial Instruments		2,963
Cash Collateral Received		0
Net Amount		9,665
Financial assets, derivative assets and collateral received | Counterparty 9
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial assets, derivative assets and collateral received		703
Financial Instruments		703
Cash Collateral Received		0
Net Amount		0
Financial liabilities, derivative liabilities and collateral pledged
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial liabilities, derivative liabilities and collateral pledged		20,199
Financial Instruments		16,583
Cash Collateral Received		3,512
Net Amount		104
Financial liabilities, derivative liabilities and collateral pledged | Counterparty 1
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial liabilities, derivative liabilities and collateral pledged		1,340
Financial Instruments		167
Cash Collateral Received		1,173
Net Amount		0
Financial liabilities, derivative liabilities and collateral pledged | Counterparty 2
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial liabilities, derivative liabilities and collateral pledged		706
Financial Instruments		706
Cash Collateral Received		0
Net Amount		0
Financial liabilities, derivative liabilities and collateral pledged | Counterparty 3
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial liabilities, derivative liabilities and collateral pledged		2,705
Financial Instruments		2,705
Cash Collateral Received		0
Net Amount		0
Financial liabilities, derivative liabilities and collateral pledged | Counterparty 4
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial liabilities, derivative liabilities and collateral pledged		3,812
Financial Instruments		2,683
Cash Collateral Received		1,129
Net Amount		0
Financial liabilities, derivative liabilities and collateral pledged | Counterparty 5
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial liabilities, derivative liabilities and collateral pledged		6,647
Financial Instruments		6,647
Cash Collateral Received		0
Net Amount		0
Financial liabilities, derivative liabilities and collateral pledged | Counterparty 6
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial liabilities, derivative liabilities and collateral pledged		9
Financial Instruments		9
Cash Collateral Received		0
Net Amount		0
Financial liabilities, derivative liabilities and collateral pledged | Counterparty 8
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial liabilities, derivative liabilities and collateral pledged		2,963
Financial Instruments		2,963
Cash Collateral Received		0
Net Amount		0
Financial liabilities, derivative liabilities and collateral pledged | Counterparty 9
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial liabilities, derivative liabilities and collateral pledged		1,181
Financial Instruments		703
Cash Collateral Received		478
Net Amount		0
Financial liabilities, derivative liabilities and collateral pledged | Counterparty 15
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial liabilities, derivative liabilities and collateral pledged		836
Financial Instruments		0
Cash Collateral Received		732
Net Amount		104
Net investment gains (losses) on securities sold under an agreement to repurchase
Gross Amounts not Offset in the Condensed Consolidated Balance Sheet
Financial liabilities, derivative liabilities and collateral pledged		29,618
Financial Instruments		29,618
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
Financial liabilities, derivative liabilities and collateral pledged		29,618
Financial Instruments		29,618
Cash Collateral Received		0
Net Amount		$ 0

Loss and loss adjustment expe_3

Loss and loss adjustment expense reserves - Schedule of loss and loss adjustment expense reserves (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Insurance Loss Reserves [Abstract]
Case loss and loss adjustment expense reserves	$ 120,714	$ 115,622
Incurred but not reported loss and loss adjustment expense reserves	701,005	604,260
Deferred gains on retroactive reinsurance contracts	461	688
Loss and loss adjustment expense reserves	$ 822,180	$ 720,570

Loss and loss adjustment expe_4

Loss and loss adjustment expense reserves - Schedule of activity in the reserve for losses and loss adjustment expenses (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 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	254,265	295,379
Prior years (1)	(11,061)	24,830
Total incurred loss and loss adjustment expenses	265,326	270,549
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Current year	(58,652)	(47,655)
Prior years	(103,572)	(145,550)
Total net paid losses	(162,224)	(193,205)
Foreign currency translation	(5,715)	15,310
Net reserves for loss and loss adjustment expenses, end of period	816,844	697,782
Plus: loss and loss adjustment expenses recoverable, end of period	1,576	1,587
Deferred Costs	3,760	0	$ 0
Gross reserves for loss and loss adjustment expenses, end of period	822,180	699,369
Amortization of deferred gains on retroactive reinsurance contracts		(1,400)
Unfavorable (Favorable) Reserve Development [Member]
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Prior years (1)	7,100	(31,700)
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Change In Policy Acquisition Costs	(2,300)	(31,700)
Increase in net underwriting loss	(4,800)
Premium Adjustments on Certain Contracts [Member]
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Prior years (1)	(18,200)	(6,900)
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Change in Accounting Estimate, Financial Impact	24,300
Prior Year Claims and Claims Adjustment Expense, Increase (Decrease) in Premium Estimates	(25,600)	(8,100)
Change In Policy Acquisition Costs	(6,100)
Increase in net underwriting loss	(1,300)	1,200
Impact On Underwriting Income [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Increase in net underwriting loss	(6,100)	$ 1,200
Multi Line Contract [Member] | Unfavorable (Favorable) Reserve Development [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Increase in net underwriting loss	12,700
Property (1) | Unfavorable (Favorable) Reserve Development [Member]
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Increase in net underwriting loss	$ 7,400

Ceded reinsurance premiums (Det

Ceded reinsurance premiums (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Ceded reinsurance premiums [Abstract]
Gross premiums ceded	$ 0	$ 0	$ 18,125	$ 2,550
Loss and loss adjustment expenses recoverable	$ 1,576	$ 1,587	$ 1,576	$ 1,587	$ 1,113	$ 1

Management, performance and f_3

Management, performance and founders fees (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Sep. 04, 2018	Aug. 31, 2018
Related Party Transaction
Performance fee payable to related party						$ 3,400
Management and performance fees to related parties	$ 5,305	$ 30,548	$ 29,845	$ 103,179
Affiliate costs, gross of TP fund fees	7,657	30,548	32,197	103,179
Management and performance fees
Related Party Transaction
Management and performance fees to related parties	$ 5,305	30,548	$ 29,845	103,179
TP Fund [Member]
Related Party Transaction
Annual investment performance fee	20.00%		20.00%
Annual investment management fee	1.50%		1.50%
Management and performance fees to related parties	$ 2,352	0	$ 2,352	0
Third Point LLC
Related Party Transaction
Annual investment management fee							1.50%
Third Point LLC | Management and performance fees
Related Party Transaction
Management and performance fees to related parties	6,387	9,507	25,797	26,751
Third Point Advisors LLC
Related Party Transaction
Annual investment performance fee							20.00%
Third Point Advisors LLC | Management and performance fees
Related Party Transaction
Management and performance fees to related parties	$ (1,082)	$ 21,041	$ 4,048	$ 76,428
Third Point Advisors LLC | Investment income
Related Party Transaction
Management and performance fees to related parties					$ 94,000

Deposit contracts (Details)

Deposit contracts (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Deposit Contracts, Liabilities [Roll Forward]
Balance, beginning of period	$ 129,133	$ 104,905
Consideration received	9,057	22,658
Consideration receivable	14,781	2,080
Net investment expense (income) allocation	(1,609)	2,800
Payments	(4,718)	(3,545)
Foreign currency translation	317	235
Balance, end of period	$ 146,961	$ 129,133

Senior notes payable and lett_3

Senior notes payable and letter of credit facilities (Senior notes payable) (Details) - Senior unsecured notes - 7% Senior Unsecured Notes - USD ($)	Sep. 30, 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	$ 1,100,000
Debt fair value	$ 115,000,000	$ 116,700,000

Senior notes payable and lett_4

Senior notes payable and letter of credit facilities (Letters of credit) (Details) - USD ($)	Sep. 30, 2018	Jul. 31, 2018	Dec. 31, 2017
Line of Credit Facility
Facility	$ 625,000,000
Utilized	262,630,000
Collateral	180,524,000		$ 867,600,000
Unsecured facility
Line of Credit Facility
Facility	200,000,000
Utilized	138,087,000
Secured facility [Member]
Line of Credit Facility
Facility	425,000,000
Utilized	124,543,000
Collateral	$ 180,524,000
Restricted cash securing letter of credit facilities | Unsecured facility
Line of Credit Facility
Facility		$ 200,000,000

Net investment income (Details)

Net investment income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net Investment Income [Abstract]
Net realized gains on investments and investment derivatives	$ 315,181	$ 25,993	$ 445,682	$ 183,939
Net change in unrealized gains (losses) on investments and investment derivatives	(317,849)	75,016	(413,370)	199,830
Net gains (losses) on foreign currencies	(3,144)	7,572	(5,761)	5,419
Dividend and interest income	13,757	17,355	51,474	57,062
Dividends paid on securities sold, not yet purchased	(1,038)	(1,537)	(5,259)	(3,205)
Other expenses	(3,266)	(4,883)	(15,618)	(15,063)
Management and performance fees to related parties	(5,305)	(30,548)	(29,845)	(103,179)
Net investment loss from investment in related party investment fund (1)	(1,926)	0	(1,926)	0
Net investment income (loss)	$ (3,590)	$ 88,968	$ 25,377	$ 324,803

Net investment income - by Type

Net investment income - by Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	$ (3,590)	$ 88,968	$ 25,377	$ 324,803
Other investment expenses	1,949	(1,477)	924	(400)
Net investment income (loss) on derivative contracts	(5,404)	17,683	655	48,087
Net investment income (loss) on cash, including foreign exchange gain (loss)	(6,021)	5,738	(15,366)	(255)
Net investment income (losses) on securities purchased under an agreement to sell and securities sold under an agreement to repurchase	3	0	(238)	(39)
Withholding taxes reclassified to income tax expense	1,069	1,216	6,325	5,610
Total other investment income (losses) and other expenses	(8,404)	23,160	(7,700)	53,003
Net investment income before management and performance fees to related parties	3,641	119,516	57,148	427,982
Management and performance fees to related parties	(5,305)	(30,548)	(29,845)	(103,179)
Net investment loss from investment in related party investment fund (1)	(1,926)	0	(1,926)	0
Net investment income (loss)	(3,590)	88,968	25,377	324,803
Net investment income (loss) by asset type
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	25,219	97,557	78,010	382,232
Net investment income (loss) by asset type | Real estate
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	(687)	398	(186)	398
Net investment income (loss) by asset type | Total other investments
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	(9,697)	(9,677)	(16,055)	(26,486)
Net investment income (loss) by asset type | Net investment income (loss) in funds valued at NAV, excluding Third Point Enhanced LP
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	(95)	2,216	(721)	8,939
Net investment income (loss) by asset type | Options
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	(8,908)	(9,343)	(15,527)	(26,409)
Net investment income (loss) by asset type | Rights and warrants
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	191	(16)	238	22
Net investment income (loss) by asset type | Trade claims
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	(293)	(716)	(580)	(497)
Net investment income (loss) by asset type | Equity securities
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	29,336	83,152	67,565	346,645
Net investment income (loss) by asset type | Equity securities
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	30,317	81,778	70,873	343,605
Net investment income (loss) by asset type | Private common equity securities
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	(175)	(65)	(628)	(26)
Net investment income (loss) by asset type | Private preferred equity securities
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	(806)	1,439	(2,680)	3,066
Net investment income (loss) by asset type | Debt securities
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	5,675	21,866	27,221	53,134
Net investment income (loss) by asset type | Asset-backed securities
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	1,178	6,532	20,660	11,665
Net investment income (loss) by asset type | Bank debt
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	2,005	1,277	5,326	7,491
Net investment income (loss) by asset type | Corporate bonds
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	455	999	(2,958)	6,707
Net investment income (loss) by asset type | Municipal bonds
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	3,742	0	9,990	0
Net investment income (loss) by asset type | U.S. Treasury securities
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	494	806	335	3,171
Net investment income (loss) by asset type | Sovereign debt
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	(2,136)	9,835	(6,538)	21,683
Net investment income (loss) by asset type | Other debt securities
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	(63)	2,417	406	2,417
Net investment income (loss) by liability type | Options
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	8,790	4,593	21,697	8,175
Net investment income (loss) by liability type | Equity securities
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	(13,174)	(1,201)	(13,162)	(7,253)
Net investment income (loss) by liability type | Equity securities
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	(21,481)	(6,144)	(32,407)	(13,611)
Net investment income (loss) by liability type | Corporate bonds
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	(483)	350	(2,452)	(1,819)
Net investment income (loss) by liability type | Sovereign debt
Schedule of Net Investment Income (Loss) by Asset Type
Net investment income (loss)	$ 0	$ 0	$ 0	$ 2

Net investment income - TP Fund

Net investment income - TP Fund income Statement (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Investment loss
Total investment income	$ (3,590,000)	$ 88,968,000	$ 25,377,000	$ 324,803,000
Expenses
Other expenses			(6,616,000)	(8,852,000)
Net income (loss)	(13,277,000)	$ 55,644,000	$ (19,457,000)	$ 236,609,000
TP Fund [Member]
Investment loss
Net realized loss from securities, derivative contracts and foreign currency translations	(4,113,000)
Net change in unrealized gain on securities, derivative contracts and foreign currency translations	3,654,000
Net income from currencies	2,606,000
Dividend and interest income	3,818,000
Total investment income	5,965,000
Expenses
Management fees	(2,834,000)
Other expenses	(5,685,000)
Total expenses	(8,519,000)
Net income (loss)	$ (2,554,000)

Net investment income - TP Fu_2

Net investment income - TP Fund Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Assets
Total investments in securities	$ 1,872,996	$ 2,995,939
Cash and cash equivalents	49,786	8,197
Due from brokers	12,853	305,093
Derivative assets, at fair value	0	73,372
Interest and dividends receivable	1,975	3,774
Other assets	13,082	7,320
Total assets	3,388,842	4,671,794
Liabilities
Accounts payable and accrued expenses	9,200	34,632
Securities sold, not yet purchased, at fair value	0	394,278
Due to brokers	16	770,205
Derivative liabilities, at fair value	0	14,503
Interest and dividends payable	1,157	4,275
Total liabilities	1,880,932	$ 2,902,079
TP Fund [Member]
Assets
Total investments in securities	2,962,324
Cash and cash equivalents	30,001
Due from brokers	199,675
Derivative assets, at fair value	13,689
Interest and dividends receivable	3,472
Other assets	370
Total assets	3,209,531
Liabilities
Accounts payable and accrued expenses	5,284
Securities sold, not yet purchased, at fair value	355,600
Due to brokers	945,603
Derivative liabilities, at fair value	13,375
Interest and dividends payable	2,476
Subscriptions received in advance	30,000
Total liabilities	1,352,338
Partners' Capital	$ 1,857,193

Other expenses (Details)

Other expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Other Income and Expenses [Abstract]
Investment expense (income) on deposit liabilities	$ (4,058)	$ 1,160	$ (1,609)	$ 1,472
Investment expense and change in fair value of embedded derivatives in reinsurance contracts	2,696	2,686	8,225	7,380
Other (income) expense	$ (1,362)	$ 3,846	$ 6,616	$ 8,852

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Tax
Deferred Tax Assets, Net	$ 900		$ 900
Provision for uncertain tax positions	1,900		1,900		$ 1,900
Income tax expense	(111)	$ 3,475	4,407	$ 14,080
Income tax expense (benefit) related to U.S. and U.K. subsidiaries
Income Tax
Income tax expense	(1,180)	2,219	(1,968)	8,246
Change in uncertain tax positions (1)
Income Tax
Income tax expense	0	40	50	224
Withholding taxes on certain investment transactions (1)
Income Tax
Income tax expense	$ 1,069	$ 1,216	$ 6,325	$ 5,610

Share capital - Common shares a

Share capital - Common shares and treasury shares (Details)	9 Months Ended
	Sep. 30, 2018shares	Sep. 30, 2017shares	Dec. 31, 2017shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares issued, beginning of period, shares	107,227,347	106,501,299
Retirement of treasury shares and shares repurchased	(13,730,258)	0
Warrants exercised, net	361,556	0
Common shares issued, end of period, shares	94,169,725	107,383,405
Balance, end of period, shares	0	(3,944,920)	(3,944,920)
Common shares outstanding, end of period, shares	94,169,725	103,438,485	103,282,427
Warrants exercised, shares	1,156,184
Warrants retired, shares	794,628
Options exercised
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	0	150,802
Restricted shares with service condition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	50,644	36,418
Performance restricted shares granted, net of forfeitures and shares withheld
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	260,436	694,886

Share capital - Authorized and

Share capital - Authorized and issued (Details) - USD ($)	Sep. 30, 2018	Dec. 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

Share capital - Share repurchas

Share capital - Share repurchase (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Feb. 28, 2018
Share repurchase [Abstract]
Stock Repurchase Program, Increase in Authorized Amount			$ 148,300,000
Stock Repurchase Program, Authorized Amount			$ 200,000,000
Shares repurchased, shares	5,461,065	9,785,338
Payment to repurchase shares	$ 73,000,000	$ 133,400,000
Average price (usd per share)	$ 13.36	$ 13.63
Stock repurchase program, remaining authorized shares	$ 66,620,294	$ 66,620,294

Share-based compensation - Narr

Share-based compensation - Narrative (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized share compensation expense	$ 10.5	$ 5.8
Unamortized share compensation expense, period of recognition	1 year 7 months 6 days	1 year 6 months
Management and director options
Fair value assumptions
Remaining contractual life	3 years 4 months 27 days	4 years 2 months 12 days
Weighted average contractual term exercisable	3 years 4 months 24 days	4 years 1 month 6 days

Share-based compensation - Sche

Share-based compensation - Schedule of share-based comp expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share compensation expenses	$ 2,398	$ 640	$ 4,956	$ 4,014
Management and director options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share compensation expenses	60	94	215	553
Restricted shares with service condition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share compensation expenses	166	196	445	474
Restricted shares with service and performance condition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share compensation expenses	$ 2,172	$ 350	$ 4,296	$ 2,987

Share-based compensation - Sc_2

Share-based compensation - Schedule of management and director options activity (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 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 - Sc_3

Share-based compensation - Schedule of management and director options outstanding (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 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 4 months 27 days	4 years 2 months 12 days
Options exercisable (in shares)	8,818,287
Options exercisable, weighted average exercise price (in dollars per share)	$ 13.40
Management and director options | $10.00 - $10.89
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Lower Range Limit (usd per share)	10
Upper Range Limit (usd per share)	$ 10.89
Options outstanding (in shares)	5,123,531
Options outstanding, weighted average exercise price (in dollars per share)	$ 10.04
Remaining contractual life	3 years 4 months 2 days
Options exercisable (in shares)	5,123,531
Options exercisable, weighted average exercise price (in dollars per share)	$ 10.04
Management and director options | $15.05 - $16.89
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Lower Range Limit (usd per share)	15.05
Upper Range Limit (usd 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	3 years 6 months 14 days
Options exercisable (in shares)	1,875,285
Options exercisable, weighted average exercise price (in dollars per share)	$ 15.95
Management and director options | $20.00 - $25.05
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Lower Range Limit (usd per share)	20
Upper Range Limit (usd per share)	$ 25.05
Options outstanding (in shares)	1,847,377
Options outstanding, weighted average exercise price (in dollars per share)	$ 20.26
Remaining contractual life	3 years 5 months 23 days
Options exercisable (in shares)	1,819,471
Options exercisable, weighted average exercise price (in dollars per share)	$ 20.22

Share-based compensation - Sc_4

Share-based compensation - Schedule of restricted shares with service condition award activity (Details) - Restricted shares with service condition - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 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)	50,644	36,418
Forfeited (in shares)		(71,429)
Vested (in shares)	(32,756)	(247,823)
Outstanding, end of period (in shares)	36,097	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)	13.45	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)	12.83	10.36
Outstanding (in dollars per share)	$ 13.35	$ 12.15

Share-based compensation - Sc_5

Share-based compensation - Schedule of restricted shares with service and performance condition (Details) - Restricted shares with service and performance condition - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 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)	554,456	935,825
Forfeited (in shares)	(288,700)	(325,568)
Vested (in shares)	(115,757)	(136,618)
Outstanding, end of period (in shares)	2,005,378	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)	369,633	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)	285,182	(131,930)
Outstanding, end of period (in shares)	1,426,261	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)	14.02	12.66
Forfeited (in dollars per share)	14	12.57
Change in estimated restricted shares considered probable of vesting (in dollars per share)	13.34	12.17
Outstanding (in dollars per share)	12.81	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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Redeemable Noncontrolling Interest [Roll Forward]
Balance, beginning of period			$ 108,219
Balance, end of period	$ 0		0
Balance, beginning of period			5,407
Balance, end of period	0		0
Total Noncontrolling Interests [Roll Forward]
Total noncontrolling interests in related party	0	$ 22,054	0	$ 22,054	$ 113,626	$ 35,674
Net income attributable to total noncontrolling interests in related party	4	959	223	3,160
Contributions			644	3,219
Redemptions (2)			(114,493)	(19,999)
Third Point Re BDA
Total Noncontrolling Interests [Roll Forward]
Total noncontrolling interests in related party	0	17,727	0	17,727	97,619	30,358
Net income attributable to total noncontrolling interests in related party			141	2,503
Contributions			564	2,865
Redemptions (2)			(98,324)	(17,999)
Third Point Re USA
Total Noncontrolling Interests [Roll Forward]
Total noncontrolling interests in related party	0	4,327	0	4,327	16,007	5,316
Net income attributable to total noncontrolling interests in related party			82	657
Contributions			80	354
Redemptions (2)			(16,169)	(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 (1)			(108,219)	16,813
Balance, end of period	0	16,813	0	16,813
Noncontrolling interests in related party
Redeemable Noncontrolling Interest [Roll Forward]
Balance, beginning of period			5,407	35,674
Changes in capital account allocation (1)			(5,407)	(30,433)
Balance, end of period	0	5,241	0	5,241
Total noncontrolling interests in related party
Total Noncontrolling Interests [Roll Forward]
Total noncontrolling interests in related party	$ 0	$ 22,054	0	22,054	$ 113,626	$ 35,674
Changes in capital account allocation (1)			$ (113,626)	$ (13,620)

Non-controlling interests - Nar

Non-controlling interests - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Sep. 04, 2018
Noncontrolling Interest [Line Items]
Affiliate Costs	$ 5,305	$ 30,548	$ 29,845	$ 103,179
TP Fund [Member]
Noncontrolling Interest [Line Items]
Equity method investment, ownership percentage	87.80%		87.80%
TP GP [Member]
Noncontrolling Interest [Line Items]
Equity method investment, ownership percentage	12.00%		12.00%
Cayman Holdco [Member]
Noncontrolling Interest [Line Items]
Equity method investment, ownership percentage					15.60%
Equity method investments, fair value disclosure					$ 600	$ 300
Payments for (Proceeds from) Limited Partnership			$ (600)	(39,600)
Third Point Hellenic Recovery US Feeder Fund, L.P. [Member]
Noncontrolling Interest [Line Items]
Equity method investment, ownership percentage					2.90%
Equity method investments, fair value disclosure					$ 4,900	4,900
Payments for (Proceeds from) Limited Partnership			$ 0	(1,300)
TP DR Holdings LLC [Member]
Noncontrolling Interest [Line Items]
Equity method investment, ownership percentage	100.00%		100.00%
Equity method investment, interest in equity					7.00%
Equity method investment, interest in debt					13.10%
Equity method investments, fair value disclosure					$ 12,700	16,800
Equity Method Investment, Fair Value of Interest in Equity					3,700
Equity Method Investment, Fair Value of Interest in Debt					$ 9,000
TP Trading II LLC [Member]
Noncontrolling Interest [Line Items]
Equity method investment, ownership percentage					9.30%
Equity method investments, fair value disclosure					$ 6,000	4,400
CloudbreakAggregator [Member]
Noncontrolling Interest [Line Items]
Equity method investments, fair value disclosure					0	4,500
Asset-backed securities | Cloudbreak II Cayman Ltd
Noncontrolling Interest [Line Items]
Investments in and Advances to Affiliates, at Fair Value					4,600	3,400
Real Estate | Ventures Entities [Member]
Noncontrolling Interest [Line Items]
Investments in and Advances to Affiliates, at Fair Value					7,500	$ 20,800
Cash [Member] | TP DR Holdings LLC [Member]
Noncontrolling Interest [Line Items]
Payments for (Proceeds from) Limited Partnership			$ 3,000	$ 1,400
Investment income | Third Point Advisors LLC
Noncontrolling Interest [Line Items]
Affiliate Costs					$ 94,000

Earnings (loss) per share ava_3

Earnings (loss) per share available to Third Point Re common shareholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Weighted-average number of common shares outstanding:
Basic number of common shares outstanding	95,671,385	101,391,145	98,768,442	102,553,346
Dilutive effect of options	0	1,536,419	0	1,162,851
Dilutive effect of warrants	0	1,416,696	0	1,067,832
Dilutive effect of restricted shares with service and performance condition	0	335,314	0	256,222
Diluted number of common shares outstanding	95,671,385	104,679,574	98,768,442	105,040,251
Basic earnings (loss) per common share:
Net income (loss) available to Third Point Re common shareholders	$ (13,281)	$ 54,685	$ (19,680)	$ 233,449
Net income allocated to Third Point Re participating common shareholders	0	(55)	0	(256)
Net income (loss) allocated to Third Point Re common shareholders	$ (13,281)	$ 54,630	$ (19,680)	$ 233,193
Basic earnings (loss) per common share	$ (0.14)	$ 0.54	$ (0.20)	$ 2.27
Earnings per share, diluted [Abstract]
Net income (loss) available to Third Point Re common shareholders	$ (13,281)	$ 54,685	$ (19,680)	$ 233,449
Net income allocated to Third Point Re participating common shareholders	0	(53)	0	(250)
Net income (loss) allocated to Third Point Re common shareholders	$ (13,281)	$ 54,632	$ (19,680)	$ 233,199
Diluted earnings (loss) per common share	$ (0.14)	$ 0.52	$ (0.20)	$ 2.22
Options
Earnings per share, diluted [Abstract]
Antidilutive securities excluded from computation of earnings per share	3,764,521	3,825,188	3,764,521	4,155,013
Options and warrants
Earnings per share, diluted [Abstract]
Antidilutive securities excluded from computation of earnings per share	9,740,753		9,903,419

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Third Point Loan L.L.C | Investments in securities, commodities, and derivative contracts
Related Party Transaction
Estimated fair value of investment					$ 99.6
Third Point Ventures L.L.C. | Investments in securities, commodities, and derivative contracts
Related Party Transaction
Estimated fair value of investment					6.3
Blackrock Inc. [Domain] | Investment Income [Member]
Related Party Transaction
Related Party Transaction, Other Revenues from Transactions with Related Party	$ (1.6)	$ 5.4	$ (0.2)	$ 8.9
Blackrock Inc. [Domain] | Investments in securities, commodities, and derivative contracts
Related Party Transaction
Estimated fair value of investment	$ 0		$ 0		$ 106.5

Financial instruments with of_3

Financial instruments with off-balance sheet risk or concentrations of credit risk (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Guarantor Obligations [Line Items]
Asset	$ 0	$ 73,372
Liability	$ 0	14,503
Written credit derivatives | Single name (0 - 250)
Guarantor Obligations [Line Items]
0-5 years		0
5 years or Greater Expiring Through 2046		2,351
Total Written Credit Default Swaps		2,351
Asset		0
Liability		2,085
Net Asset/(Liability)		$ (2,085)

Commitments and Contingencies (

Commitments and Contingencies (Details) - Senior unsecured notes - 7% Senior Unsecured Notes - USD ($)	Sep. 30, 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		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)segment	Sep. 30, 2017USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment			1
Segment Reporting Information [Line Items]
Gross premiums written	$ 30,064	$ 174,539	$ 458,189	$ 477,457
Gross premiums ceded	0	0	(18,125)	(2,550)
Net premiums written	30,064	174,539	440,064	474,907
Change in net unearned premium reserves	97,929	(68,564)	(28,092)	(57,365)
Net premiums earned	127,993	105,975	411,972	417,542
Loss and loss adjustment expenses incurred, net	88,706	77,275	265,326	270,549
Acquisition costs, net	40,841	33,974	149,830	157,067
General and administrative expenses	(9,511)	(13,218)	(28,688)	(38,804)
Other income (expense)	1,362	(3,846)	(6,616)	(8,852)
Total expenses	134,310	118,540	429,706	450,868
Net investment income (loss)	(3,590)	88,968	25,377	324,803
Interest expense	(2,074)	(2,074)	(6,154)	(6,151)
Foreign exchange gains	1,979	(5,437)	4,215	(10,233)
Income tax (expense) benefit	111	(3,475)	(4,407)	(14,080)
Net income attributable to noncontrolling interests in related party	(4)	(959)	(223)	(3,160)
Net income (loss) available to Third Point Re common shareholders	$ (13,281)	$ 54,685	$ (19,680)	$ 233,449
Gross Premiums As Percentage Of Total Gross Premiums	100.00%	100.00%	100.00%	100.00%
Corporate
Segment Reporting Information [Line Items]
General and administrative expenses	$ (4,748)	$ (5,927)	$ (14,138)	$ (15,552)
Property and Casualty Reinsurance | Retroactive Reinsurance Contract [Member]
Segment Reporting Information [Line Items]
Gross premiums written	$ 0	$ 0	$ 4,341	$ 109,351
Gross Premiums As Percentage Of Total Gross Premiums	0.00%	0.00%	0.90%	22.90%
Property and Casualty Reinsurance | Property (1)
Segment Reporting Information [Line Items]
Gross premiums written	$ (3,578)	$ (3)	$ (1,549)	$ (8,818)
Gross Premiums As Percentage Of Total Gross Premiums	(11.90%)	0.00%	(0.30%)	(1.90%)
Property and Casualty Reinsurance | Casualty
Segment Reporting Information [Line Items]
Gross premiums written	$ 37,028	$ 161,110	$ 233,758	$ 263,323
Gross Premiums As Percentage Of Total Gross Premiums	123.20%	92.30%	51.00%	55.20%
Property and Casualty Reinsurance | Specialty (1)
Segment Reporting Information [Line Items]
Gross premiums written	$ (3,386)	$ 13,432	$ 221,639	$ 113,601
Gross Premiums As Percentage Of Total Gross Premiums	(11.30%)	7.70%	48.40%	23.80%
Property and Casualty Reinsurance | Prospective Reinsurance Contract [Member]
Segment Reporting Information [Line Items]
Gross premiums written	$ 30,064	$ 174,539	$ 453,848	$ 368,106
Gross Premiums As Percentage Of Total Gross Premiums	100.00%	100.00%	99.10%	77.10%
Property and Casualty Reinsurance | Operating Segments
Segment Reporting Information [Line Items]
Gross premiums written	$ 30,064	$ 174,539	$ 458,189	$ 477,457
Gross premiums ceded	0	0	(18,125)	2,550
Net premiums written	30,064	174,539	440,064	474,907
Change in net unearned premium reserves	97,929	(68,564)	(28,092)	(57,365)
Net premiums earned	127,993	105,975	411,972	417,542
Loss and loss adjustment expenses incurred, net	88,706	77,275	265,326	270,549
Acquisition costs, net	40,841	33,974	149,830	157,067
General and administrative expenses	(4,763)	(7,291)	(14,550)	(23,252)
Total expenses	134,310	118,540	429,706	450,868
Net underwriting loss	$ 6,317	$ 12,565	$ 17,734	$ 33,326
Loss ratio	69.30%	72.90%	64.40%	64.80%
Acquisition cost ratio	31.90%	32.10%	36.40%	37.60%
Composite ratio	101.20%	105.00%	100.80%	102.40%
General and administrative expense ratio	3.70%	6.90%	3.50%	5.60%
Combined ratio	104.90%	111.90%	104.30%	108.00%

Segment reporting - Concentrati

Segment reporting - Concentration Risk (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue, Major Customer [Line Items]
Assumed Premiums Written	$ 30,064	$ 174,539	$ 458,189	$ 477,457
Gross Premiums As Percentage Of Total Gross Premiums	100.00%	100.00%	100.00%	100.00%
Property and Casualty Reinsurance | Property Reinsurance [Member]
Revenue, Major Customer [Line Items]
Assumed Premiums Written	$ (3,578)	$ (3)	$ (1,549)	$ (8,818)
Gross Premiums As Percentage Of Total Gross Premiums	(11.90%)	0.00%	(0.30%)	(1.90%)
Property and Casualty Reinsurance | Casualty
Revenue, Major Customer [Line Items]
Assumed Premiums Written	$ 37,028	$ 161,110	$ 233,758	$ 263,323
Gross Premiums As Percentage Of Total Gross Premiums	123.20%	92.30%	51.00%	55.20%
Property and Casualty Reinsurance | Specialty (1)
Revenue, Major Customer [Line Items]
Assumed Premiums Written	$ (3,386)	$ 13,432	$ 221,639	$ 113,601
Gross Premiums As Percentage Of Total Gross Premiums	(11.30%)	7.70%	48.40%	23.80%
Property and Casualty Reinsurance | Prospective Reinsurance Contract [Member]
Revenue, Major Customer [Line Items]
Assumed Premiums Written	$ 30,064	$ 174,539	$ 453,848	$ 368,106
Gross Premiums As Percentage Of Total Gross Premiums	100.00%	100.00%	99.10%	77.10%
Property and Casualty Reinsurance | Retroactive Reinsurance Contract [Member]
Revenue, Major Customer [Line Items]
Assumed Premiums Written	$ 0	$ 0	$ 4,341	$ 109,351
Gross Premiums As Percentage Of Total Gross Premiums	0.00%	0.00%	0.90%	22.90%

Segment reporting - Customer Co

Segment reporting - Customer Concentration (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting [Abstract]
Gross premiums written	$ 30,064	$ 174,539	$ 458,189	$ 477,457

Segment reporting - Geographic

Segment reporting - Geographic information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting [Abstract]
Gross premiums written	$ 30,064	$ 174,539	$ 458,189	$ 477,457

Subsequent events (Details)

Subsequent events (Details) - USD ($) $ in Millions	Nov. 06, 2018	Feb. 28, 2018
Subsequent Event [Line Items]
Stock Repurchase Program, Increase in Authorized Amount		$ 148.3
Stock Repurchase Program, Authorized Amount		$ 200
Subsequent event
Subsequent Event [Line Items]
Stock Repurchase Program, Increase in Authorized Amount	$ 133.4
Stock Repurchase Program, Authorized Amount	$ 200

Supplemental Guarantor Inform_3

Supplemental Guarantor Information - Condensed Consolidating Balance Sheet (Details) - USD ($)	Sep. 30, 2018	Sep. 04, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Condensed Balance Sheet Statements, Captions [Line Items]
Total cash, cash equivalents and restricted cash	$ 630,920,000		$ 549,333,000	$ 483,796,000	$ 308,891,000
Assets
Equity securities, trading, at fair value (cost - N/A; 2017 - $1,868,735)	0		2,283,050,000
Debt securities	244,876,000		675,158,000
Other investments, at fair value	196,000		37,731,000
Total investments in securities	1,872,996,000		2,995,939,000
Cash and cash equivalents	49,786,000		8,197,000
Restricted cash and cash equivalents	581,134,000		541,136,000
Subscription receivable from related party investment fund	30,000,000		0
Investment in subsidiaries	0		0
Due from brokers	12,853,000		305,093,000
Derivative assets, at fair value	0		73,372,000
Interest and dividends receivable	1,975,000		3,774,000
Reinsurance balances receivable	577,382,000		476,008,000
Deferred acquisition costs, net	231,286,000		258,793,000
Unearned premiums ceded	16,772,000		1,049,000
Loss and loss adjustment expenses recoverable	1,576,000		1,113,000	1,587,000	1,000
Amounts due from (to) affiliates	0		0
Other assets	13,082,000		7,320,000
Total assets	3,388,842,000		4,671,794,000
Liabilities
Accounts payable and accrued expenses	(9,200,000)		(34,632,000)
Reinsurance balances payable	71,070,000		41,614,000
Deposit liabilities	146,961,000		129,133,000		104,905,000
Unearned premium reserves	693,333,000		649,518,000
Loss and loss adjustment expense reserves	822,180,000		720,570,000
Securities sold, not yet purchased, at fair value	0		394,278,000
Securities sold under an agreement to repurchase	0		29,618,000
Due to brokers	16,000		770,205,000
Derivative liabilities, at fair value	0		14,503,000
Participation agreement with related party investment fund	23,149,000		0
Due to Related Parties		$ (3,400,000)
Interest and dividends payable	1,157,000		4,275,000
Senior notes payable, net of deferred costs	113,866,000		113,733,000
Total liabilities	1,880,932,000		2,902,079,000
Redeemable noncontrolling interests in related party	0		108,219,000
Shareholders’ equity
Common shares	9,417,000		10,723,000
Treasury Stock, Value	0		(48,253,000)
Additional paid-in capital	924,153,000		1,099,599,000
Retained earnings	574,340,000		594,020,000
Shareholders’ equity attributable to Third Point Re common shareholders	1,507,910,000		1,656,089,000	1,612,154,000
Noncontrolling interests in related party	0		5,407,000
Total shareholders’ equity	1,507,910,000		1,661,496,000	1,617,395,000
Total liabilities, noncontrolling interests and shareholders’ equity	3,388,842,000		4,671,794,000
Eliminations
Condensed Balance Sheet Statements, Captions [Line Items]
Total cash, cash equivalents and restricted cash	0		0	0	0
Assets
Total investments in securities	0		0
Cash and cash equivalents	0		0
Restricted cash and cash equivalents	0		0
Subscription receivable from related party investment fund	0
Investment in subsidiaries	(1,938,381,000)		(2,096,648,000)
Due from brokers	0		0
Derivative assets, at fair value			0
Interest and dividends receivable	0		0
Reinsurance balances receivable	0		0
Deferred acquisition costs, net	0		0
Unearned premiums ceded	0		0
Loss and loss adjustment expenses recoverable	0		0
Amounts due from (to) affiliates	0		0
Other assets	0		0
Total assets	(1,938,381,000)		(2,096,648,000)
Liabilities
Accounts payable and accrued expenses	0		0
Reinsurance balances payable	0		0
Deposit liabilities	0		0
Unearned premium reserves	0		0
Loss and loss adjustment expense reserves	0		0
Securities sold, not yet purchased, at fair value			0
Securities sold under an agreement to repurchase			0
Due to brokers	0		0
Derivative liabilities, at fair value			0
Participation agreement with related party investment fund	0
Interest and dividends payable	0		0
Senior notes payable, net of deferred costs	0		0
Total liabilities	0		0
Redeemable noncontrolling interests in related party	0		0
Shareholders’ equity
Common shares	(1,239,000)		(1,250,000)
Treasury Stock, Value			0
Additional paid-in capital	(1,703,173,000)		(1,696,867,000)
Retained earnings	(233,969,000)		(398,531,000)
Shareholders’ equity attributable to Third Point Re common shareholders	(1,938,381,000)		(2,096,648,000)
Noncontrolling interests in related party	0		0
Total shareholders’ equity	(1,938,381,000)		(2,096,648,000)
Total liabilities, noncontrolling interests and shareholders’ equity	(1,938,381,000)		(2,096,648,000)
Third Point Re | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Total cash, cash equivalents and restricted cash	0		9,000	0	1,629,000
Assets
Total investments in securities	0		0
Cash and cash equivalents	0		9,000
Restricted cash and cash equivalents	0		0
Subscription receivable from related party investment fund	0
Investment in subsidiaries	1,503,740,000		1,657,467,000
Due from brokers	0		0
Derivative assets, at fair value			0
Interest and dividends receivable	0		0
Reinsurance balances receivable	0		0
Deferred acquisition costs, net	0		0
Unearned premiums ceded	0		0
Loss and loss adjustment expenses recoverable	0		0
Amounts due from (to) affiliates	3,493,000		(1,288,000)
Other assets	2,079,000		664,000
Total assets	1,509,312,000		1,656,852,000
Liabilities
Accounts payable and accrued expenses	(1,402,000)		(763,000)
Reinsurance balances payable	0		0
Deposit liabilities	0		0
Unearned premium reserves	0		0
Loss and loss adjustment expense reserves	0		0
Securities sold, not yet purchased, at fair value			0
Securities sold under an agreement to repurchase			0
Due to brokers	0		0
Derivative liabilities, at fair value			0
Participation agreement with related party investment fund	0
Interest and dividends payable	0		0
Senior notes payable, net of deferred costs	0		0
Total liabilities	1,402,000		763,000
Redeemable noncontrolling interests in related party	0		0
Shareholders’ equity
Common shares	9,417,000		10,723,000
Treasury Stock, Value			(48,253,000)
Additional paid-in capital	924,153,000		1,099,599,000
Retained earnings	574,340,000		594,020,000
Shareholders’ equity attributable to Third Point Re common shareholders	1,507,910,000		1,656,089,000
Noncontrolling interests in related party	0		0
Total shareholders’ equity	1,507,910,000		1,656,089,000
Total liabilities, noncontrolling interests and shareholders’ equity	1,509,312,000		1,656,852,000
TPRUSA | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Total cash, cash equivalents and restricted cash	189,000		199,000	200,000	79,000
Assets
Total investments in securities	0		0
Cash and cash equivalents	189,000		199,000
Restricted cash and cash equivalents	0		0
Subscription receivable from related party investment fund	0
Investment in subsidiaries	268,883,000		274,272,000
Due from brokers	0		0
Derivative assets, at fair value			0
Interest and dividends receivable	0		0
Reinsurance balances receivable	0		0
Deferred acquisition costs, net	0		0
Unearned premiums ceded	0		0
Loss and loss adjustment expenses recoverable	0		0
Amounts due from (to) affiliates	(3,948,000)		412,000
Other assets	10,149,000		0
Total assets	275,273,000		274,883,000
Liabilities
Accounts payable and accrued expenses	(59,000)		8,805,000
Reinsurance balances payable	0		0
Deposit liabilities	0		0
Unearned premium reserves	0		0
Loss and loss adjustment expense reserves	0		0
Securities sold, not yet purchased, at fair value			0
Securities sold under an agreement to repurchase			0
Due to brokers	0		0
Derivative liabilities, at fair value			0
Participation agreement with related party investment fund	0
Interest and dividends payable	1,026,000		3,055,000
Senior notes payable, net of deferred costs	113,866,000		113,733,000
Total liabilities	114,951,000		107,983,000
Redeemable noncontrolling interests in related party	0		0
Shareholders’ equity
Common shares	0		0
Treasury Stock, Value			0
Additional paid-in capital	165,990,000		165,097,000
Retained earnings	(5,668,000)		1,803,000
Shareholders’ equity attributable to Third Point Re common shareholders	160,322,000		166,900,000
Noncontrolling interests in related party	0		0
Total shareholders’ equity	160,322,000		166,900,000
Total liabilities, noncontrolling interests and shareholders’ equity	275,273,000		274,883,000
Deferred tax liability			9,900,000
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Total cash, cash equivalents and restricted cash	630,731,000		549,125,000	$ 483,596,000	$ 307,183,000
Assets
Total investments in securities	1,872,996,000		2,995,939,000
Cash and cash equivalents	49,597,000		7,989,000
Restricted cash and cash equivalents	581,134,000		541,136,000
Subscription receivable from related party investment fund	30,000,000
Investment in subsidiaries	165,758,000		164,909,000
Due from brokers	12,853,000		305,093,000
Derivative assets, at fair value			73,372,000
Interest and dividends receivable	1,975,000		3,774,000
Reinsurance balances receivable	577,382,000		476,008,000
Deferred acquisition costs, net	231,286,000		258,793,000
Unearned premiums ceded	16,772,000		1,049,000
Loss and loss adjustment expenses recoverable	1,576,000		1,113,000
Amounts due from (to) affiliates	455,000		876,000
Other assets	854,000		6,656,000
Total assets	3,542,638,000		4,836,707,000
Liabilities
Accounts payable and accrued expenses	(7,739,000)		(42,674,000)
Reinsurance balances payable	71,070,000		41,614,000
Deposit liabilities	146,961,000		129,133,000
Unearned premium reserves	693,333,000		649,518,000
Loss and loss adjustment expense reserves	822,180,000		720,570,000
Securities sold, not yet purchased, at fair value			394,278,000
Securities sold under an agreement to repurchase			29,618,000
Due to brokers	16,000		770,205,000
Derivative liabilities, at fair value			14,503,000
Participation agreement with related party investment fund	23,149,000
Interest and dividends payable	131,000		1,220,000
Senior notes payable, net of deferred costs	0		0
Total liabilities	1,764,579,000		2,793,333,000
Redeemable noncontrolling interests in related party	0		108,219,000
Shareholders’ equity
Common shares	1,239,000		1,250,000
Treasury Stock, Value			0
Additional paid-in capital	1,537,183,000		1,531,770,000
Retained earnings	239,637,000		396,728,000
Shareholders’ equity attributable to Third Point Re common shareholders	1,778,059,000		1,929,748,000
Noncontrolling interests in related party	0		5,407,000
Total shareholders’ equity	1,778,059,000		1,935,155,000
Total liabilities, noncontrolling interests and shareholders’ equity	3,542,638,000		$ 4,836,707,000
Financial Guarantee | TPRUSA
Condensed Balance Sheet Statements, Captions [Line Items]
Debt obligation	$ 115,000,000

Supplemental Guarantor Inform_4

Supplemental Guarantor Information - Condensed Consolidating Statement of Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues
Gross premiums written	$ 30,064	$ 174,539	$ 458,189	$ 477,457
Gross premiums ceded	0	0	(18,125)	(2,550)
Net premiums written	30,064	174,539	440,064	474,907
Change in net unearned premium reserves	97,929	(68,564)	(28,092)	(57,365)
Net premiums earned	127,993	105,975	411,972	417,542
Net investment income (loss)	(3,590)	88,968	25,377	324,803
Equity in losses of subsidiaries	0	0	0	0
Total revenues	124,403	194,943	437,349	742,345
Expenses
Loss and loss adjustment expenses incurred, net	88,706	77,275	265,326	270,549
Acquisition costs, net	40,841	33,974	149,830	157,067
General and administrative expenses	9,511	13,218	28,688	38,804
Other expenses	(1,362)	3,846	6,616	8,852
Interest expense	2,074	2,074	6,154	6,151
Net foreign exchange (gains) losses	(1,979)	5,437	(4,215)	10,233
Total expenses	137,791	135,824	452,399	491,656
Income (loss) before income tax (expense) benefit	(13,388)	59,119	(15,050)	250,689
Income tax (expense) benefit	111	(3,475)	(4,407)	(14,080)
Net income (loss)	(13,277)	55,644	(19,457)	236,609
Net income attributable to noncontrolling interests in related party	(4)	(959)	(223)	(3,160)
Net income (loss) available to Third Point Re common shareholders	(13,281)	54,685	(19,680)	233,449
Eliminations
Revenues
Gross premiums written	0	0	0	0
Gross premiums ceded	0	0	0	0
Net premiums written	0	0	0	0
Change in net unearned premium reserves	0	0	0	0
Net premiums earned	0	0	0	0
Net investment income (loss)	0	0	0	0
Equity in losses of subsidiaries	13,932	(61,290)	16,762	(256,330)
Total revenues	13,932	(61,290)	16,762	(256,330)
Expenses
Loss and loss adjustment expenses incurred, net	0	0	0	0
Acquisition costs, net	0	0	0	0
General and administrative expenses	0	0	0	0
Other expenses	0	0	0	0
Interest expense	0	0	0	0
Net foreign exchange (gains) losses	0	0	0	0
Total expenses	0	0	0	0
Income (loss) before income tax (expense) benefit	13,932	(61,290)	16,762	(256,330)
Income tax (expense) benefit	0	0	0	0
Net income (loss)	13,932	(61,290)	16,762	(256,330)
Net income attributable to noncontrolling interests in related party	0	0	0	0
Net income (loss) available to Third Point Re common shareholders	13,932	(61,290)	16,762	(256,330)
Third Point Re | Reportable Legal Entities
Revenues
Gross premiums written	0	0	0	0
Gross premiums ceded	0	0	0	0
Net premiums written	0	0	0	0
Change in net unearned premium reserves	0	0	0	0
Net premiums earned	0	0	0	0
Net investment income (loss)	0	0	0	0
Equity in losses of subsidiaries	(11,100)	55,847	(14,138)	237,060
Total revenues	(11,100)	55,847	(14,138)	237,060
Expenses
Loss and loss adjustment expenses incurred, net	0	0	0	0
Acquisition costs, net	0	0	0	0
General and administrative expenses	2,181	1,162	5,542	3,611
Other expenses	0	0	0	0
Interest expense	0	0	0	0
Net foreign exchange (gains) losses	0	0	0	0
Total expenses	2,181	1,162	5,542	3,611
Income (loss) before income tax (expense) benefit	(13,281)	54,685	(19,680)	233,449
Income tax (expense) benefit	0	0	0	0
Net income (loss)	(13,281)	54,685	(19,680)	233,449
Net income attributable to noncontrolling interests in related party	0	0	0	0
Net income (loss) available to Third Point Re common shareholders	(13,281)	54,685	(19,680)	233,449
TPRUSA | Reportable Legal Entities
Revenues
Gross premiums written	0	0	0	0
Gross premiums ceded	0	0	0	0
Net premiums written	0	0	0	0
Change in net unearned premium reserves	0	0	0	0
Net premiums earned	0	0	0	0
Net investment income (loss)	0	0	0	0
Equity in losses of subsidiaries	(2,821)	5,473	(2,582)	19,305
Total revenues	(2,821)	5,473	(2,582)	19,305
Expenses
Loss and loss adjustment expenses incurred, net	0	0	0	0
Acquisition costs, net	0	0	0	0
General and administrative expenses	13	17	35	37
Other expenses	0	0	0	0
Interest expense	2,074	2,074	6,154	6,151
Net foreign exchange (gains) losses	0	0	0	0
Total expenses	2,087	2,091	6,189	6,188
Income (loss) before income tax (expense) benefit	(4,908)	3,382	(8,771)	13,117
Income tax (expense) benefit	438	732	1,300	2,166
Net income (loss)	(4,470)	4,114	(7,471)	15,283
Net income attributable to noncontrolling interests in related party	0	0	0	0
Net income (loss) available to Third Point Re common shareholders	(4,470)	4,114	(7,471)	15,283
Non-Guarantor Subsidiaries | Reportable Legal Entities
Revenues
Gross premiums written	30,064	174,539	458,189	477,457
Gross premiums ceded	0	0	(18,125)	(2,550)
Net premiums written	30,064	174,539	440,064	474,907
Change in net unearned premium reserves	97,929	(68,564)	(28,092)	(57,365)
Net premiums earned	127,993	105,975	411,972	417,542
Net investment income (loss)	(3,590)	88,968	25,377	324,803
Equity in losses of subsidiaries	(11)	(30)	(42)	(35)
Total revenues	124,392	194,913	437,307	742,310
Expenses
Loss and loss adjustment expenses incurred, net	88,706	77,275	265,326	270,549
Acquisition costs, net	40,841	33,974	149,830	157,067
General and administrative expenses	7,317	12,039	23,111	35,156
Other expenses	(1,362)	3,846	6,616	8,852
Interest expense	0	0	0	0
Net foreign exchange (gains) losses	(1,979)	5,437	(4,215)	10,233
Total expenses	133,523	132,571	440,668	481,857
Income (loss) before income tax (expense) benefit	(9,131)	62,342	(3,361)	260,453
Income tax (expense) benefit	(327)	(4,207)	(5,707)	(16,246)
Net income (loss)	(9,458)	58,135	(9,068)	244,207
Net income attributable to noncontrolling interests in related party	(4)	(959)	(223)	(3,160)
Net income (loss) available to Third Point Re common shareholders	$ (9,462)	$ 57,176	$ (9,291)	$ 241,047

Supplemental Guarantor Inform_5

Supplemental Guarantor Information - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Operating activities
Net income (loss)	$ (13,277)	$ 55,644	$ (19,457)	$ 236,609
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in earnings of subsidiaries			0	0
Share compensation expense			4,956	4,014
Net interest (income) expense on deposit liabilities			(1,609)	1,472
Net realized and unrealized gain on investments and derivatives			(32,373)	(383,681)
Net Realized and Unrealized Gain (Loss) on Trading Securities, related party investment fund			(1,926)	0
Net foreign exchange (gains) losses	(1,979)	5,437	(4,215)	10,233
Amortization of premium and accretion of discount, net			2,674	(452)
Changes in assets and liabilities:
Reinsurance balances receivable			(87,911)	(77,444)
Deferred acquisition costs, net			27,507	(1,473)
Unearned premiums ceded			(15,723)	(934)
Loss and loss adjustment expenses recoverable			(463)	(1,586)
Other assets			(5,757)	8,218
Interest and dividends receivable, net			(5,273)	769
Unearned premium reserves			43,815	58,299
Loss and loss adjustment expense reserves			(107,325)	(78,931)
Accounts payable and accrued expenses			(22,761)	14,173
Reinsurance balances payable			29,624	11,462
Performance fees payable to related party			0	73,210
Increase (Decrease) in Due to Affiliates			0	0
Net cash provided by operating activities			22,285	31,820
Investing activities
Contributions to related party investment fund			88,658	0
Purchases of investments			(3,235,659)	(2,238,167)
Proceeds from sales and maturities of investments			3,222,239	2,536,688
Purchases of investments to cover short sales			(853,798)	(440,242)
Proceeds from short sales of investments			800,508	735,132
Change in due to/from brokers, net			471,352	(400,566)
Decrease in securities sold under an agreement to repurchase			(29,618)	0
Net cash provided by investing activities			286,366	192,845
Financing activities
Proceeds from issuance of Third Point Re common shares, net of costs			0	1,504
Taxes paid on withholding shares			(74)	0
Purchases of Third Point Re common shares under share repurchase program			(133,380)	(40,864)
Increase in deposit liabilities, net			4,340	6,380
Change in total noncontrolling interests in related party, net			(97,950)	(16,780)
Dividend received by (paid to) parent			0	0
Net cash used in financing activities			(227,064)	(49,760)
Net increase in cash, cash equivalents and restricted cash			81,587	174,905
Cash, cash equivalents and restricted cash at beginning of period			549,333	308,891
Eliminations
Operating activities
Net income (loss)	13,932	(61,290)	16,762	(256,330)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in earnings of subsidiaries			(16,762)	256,330
Share compensation expense			0	0
Net interest (income) expense on deposit liabilities			0	0
Net realized and unrealized gain on investments and derivatives			0	0
Net Realized and Unrealized Gain (Loss) on Trading Securities, related party investment fund			0
Net foreign exchange (gains) losses	0	0	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
Unearned premiums ceded			0	0
Loss and loss adjustment expenses 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
Increase (Decrease) in Due to Affiliates			0	0
Net cash provided by operating activities			0	0
Investing activities
Contributions to related party investment fund			0
Purchases of investments			0	0
Proceeds from sales and maturities 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
Decrease in securities sold under an agreement to repurchase			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 in deposit liabilities, net			0	0
Change in total noncontrolling interests in related party, net			0	0
Dividend received by (paid to) parent			0	0
Net cash used in financing activities			0	0
Net increase in cash, cash equivalents and restricted cash			0	0
Cash, cash equivalents and restricted cash at beginning of period			0	0
Third Point Re | Reportable Legal Entities
Operating activities
Net income (loss)	(13,281)	54,685	(19,680)	233,449
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in earnings of subsidiaries			14,138	(237,060)
Share compensation expense			444	184
Net interest (income) expense on deposit liabilities			0	0
Net realized and unrealized gain on investments and derivatives			0	0
Net Realized and Unrealized Gain (Loss) on Trading Securities, related party investment fund			0
Net foreign exchange (gains) losses	0	0	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
Unearned premiums ceded			0	0
Loss and loss adjustment expenses recoverable			0	0
Other assets			(1,415)	(97)
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			639	(96)
Reinsurance balances payable			0	0
Performance fees payable to related party				0
Increase (Decrease) in Due to Affiliates			(4,781)	1,351
Net cash provided by operating activities			(10,655)	(2,269)
Investing activities
Contributions to related party investment fund			0
Purchases of investments			0	0
Proceeds from sales and maturities 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
Decrease in securities sold under an agreement to repurchase			0
Net cash provided by investing activities			0	0
Financing activities
Proceeds from issuance of Third Point Re common shares, net of costs				1,504
Taxes paid on withholding shares			(74)
Purchases of Third Point Re common shares under share repurchase program			(133,380)	(40,864)
Increase in deposit liabilities, net			0	0
Change in total noncontrolling interests in related party, net			0	0
Dividend received by (paid to) parent			144,100	40,000
Net cash used in financing activities			10,646	640
Net increase in cash, cash equivalents and restricted cash			(9)	(1,629)
Cash, cash equivalents and restricted cash at beginning of period			9	1,629
TPRUSA | Reportable Legal Entities
Operating activities
Net income (loss)	(4,470)	4,114	(7,471)	15,283
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in earnings of subsidiaries			2,582	(19,305)
Share compensation expense			0	0
Net interest (income) expense on deposit liabilities			0	0
Net realized and unrealized gain on investments and derivatives			0	0
Net Realized and Unrealized Gain (Loss) on Trading Securities, related party investment fund			0
Net foreign exchange (gains) losses	0	0	0	0
Amortization of premium and accretion of discount, net			133	133
Changes in assets and liabilities:
Reinsurance balances receivable			0	0
Deferred acquisition costs, net			0	0
Unearned premiums ceded			0	0
Loss and loss adjustment expenses recoverable			0	0
Other assets			(10,149)	5,507
Interest and dividends receivable, net			(2,029)	(2,031)
Unearned premium reserves			0	0
Loss and loss adjustment expense reserves			0	0
Accounts payable and accrued expenses			8,864	(7,960)
Reinsurance balances payable			0	0
Performance fees payable to related party				0
Increase (Decrease) in Due to Affiliates			4,360	(4,806)
Net cash provided by operating activities			(3,710)	(13,179)
Investing activities
Contributions to related party investment fund			0
Purchases of investments			0	0
Proceeds from sales and maturities 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
Decrease in securities sold under an agreement to repurchase			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 in deposit liabilities, net			0	0
Change in total noncontrolling interests in related party, net			0	0
Dividend received by (paid to) parent			3,700	13,300
Net cash used in financing activities			3,700	13,300
Net increase in cash, cash equivalents and restricted cash			(10)	121
Cash, cash equivalents and restricted cash at beginning of period			199	79
Non-Guarantor Subsidiaries | Reportable Legal Entities
Operating activities
Net income (loss)	(9,458)	58,135	(9,068)	244,207
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in earnings of subsidiaries			42	35
Share compensation expense			4,512	3,830
Net interest (income) expense on deposit liabilities			(1,609)	1,472
Net realized and unrealized gain on investments and derivatives			(32,373)	(383,681)
Net Realized and Unrealized Gain (Loss) on Trading Securities, related party investment fund			(1,926)
Net foreign exchange (gains) losses	$ (1,979)	$ 5,437	(4,215)	10,233
Amortization of premium and accretion of discount, net			2,541	(585)
Changes in assets and liabilities:
Reinsurance balances receivable			(87,911)	(77,444)
Deferred acquisition costs, net			27,507	(1,473)
Unearned premiums ceded			(15,723)	(934)
Loss and loss adjustment expenses recoverable			(463)	(1,586)
Other assets			5,807	2,808
Interest and dividends receivable, net			(3,244)	2,800
Unearned premium reserves			43,815	58,299
Loss and loss adjustment expense reserves			(107,325)	(78,931)
Accounts payable and accrued expenses			(32,264)	22,229
Reinsurance balances payable			29,624	11,462
Performance fees payable to related party				73,210
Increase (Decrease) in Due to Affiliates			421	3,455
Net cash provided by operating activities			36,650	47,268
Investing activities
Contributions to related party investment fund			88,658
Purchases of investments			(3,235,659)	(2,238,167)
Proceeds from sales and maturities of investments			3,222,239	2,536,688
Purchases of investments to cover short sales			(853,798)	(440,242)
Proceeds from short sales of investments			800,508	735,132
Change in due to/from brokers, net			471,352	(400,566)
Decrease in securities sold under an agreement to repurchase			(29,618)
Net cash provided by investing activities			286,366	192,845
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 in deposit liabilities, net			4,340	6,380
Change in total noncontrolling interests in related party, net			(97,950)	(16,780)
Dividend received by (paid to) parent			(147,800)	(53,300)
Net cash used in financing activities			(241,410)	(63,700)
Net increase in cash, cash equivalents and restricted cash			81,606	176,413
Cash, cash equivalents and restricted cash at beginning of period			$ 549,125	$ 307,183