$AMBC
AMBAC FINANCIAL GROUP INC Stock $ambc

$ambc Overview Financials Valuation SEC Filings Company Website

2017 Q1 Form 10-K Financial Statement

#000087450117000022 Filed on February 28, 2017

Income Statement

Concept	2017 Q1	2015 Q4
Revenue	$81.56M	$183.1M
YoY Change	226.24%	120.07%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$37.80M	$55.50M
YoY Change	-26.17%	28.18%
% of Gross Profit
Operating Expenses	$200.7M	-$255.4M
YoY Change	-860.23%	-47.24%
Operating Profit
YoY Change
Interest Expense	-$31.60M	-$30.60M
YoY Change	3.95%	-2.55%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income	-$105.9M	$395.6M
YoY Change	-920.62%	-13.93%
Income Tax	$19.60M	$8.900M
% Of Pretax Income		2.25%
Net Earnings	-$125.4M	$387.0M
YoY Change	-1434.48%	-14.68%
Net Earnings / Revenue	-153.8%	211.36%
Basic Earnings Per Share	-$2.77
Diluted Earnings Per Share	-$2.77	$8.562M
COMMON SHARES
Basic Shares Outstanding	45.22M shares	45.02M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2017 Q1	2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents	$119.0M	$41.57M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$31.20M	$25.34M
YoY Change	17.87%	-99.88%
Other Assets	$5.000M	$6.000M
YoY Change	-16.67%	-25.0%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets	$22.76B	$23.73B
YoY Change	-4.03%	-5.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses	$400.0M	$359.0M
YoY Change	6.67%	16.94%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$442.0M	$550.0M
YoY Change	-10.71%	16.03%
LONG-TERM LIABILITIES
Long-Term Debt	$12.58B	$13.45B
YoY Change	-4.07%	-2.89%
Other Long-Term Liabilities	$2.376B	$2.343B
YoY Change	-6.9%	-12.28%
Total Long-Term Liabilities	$14.96B	$15.80B
YoY Change	-4.53%	-4.41%
TOTAL LIABILITIES
Total Short-Term Liabilities	$442.0M	$550.0M
Total Long-Term Liabilities	$14.96B	$15.80B
Total Liabilities	$21.14B	$22.04B
YoY Change	-3.8%	-7.23%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares		8.202K shares
Shareholders Equity	$1.625B	$1.685B
YoY Change
Total Liabilities & Shareholders Equity	$22.76B	$23.73B
YoY Change	-4.03%	-5.69%

Cashflow Statement

Concept	2017 Q1	2015 Q4
OPERATING ACTIVITIES
Net Income	-$125.4M	$387.0M
YoY Change	-1434.48%	-14.68%
Depreciation, Depletion And Amortization	$37.80M	$55.50M
YoY Change	-26.17%	28.18%
Cash From Operating Activities	-$4.800M	$10.90M
YoY Change	-100.58%	-100.89%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities	$232.5M	$6.200M
YoY Change	-128.57%	-99.61%
Cash From Investing Activities	$232.5M	$6.200M
YoY Change	-128.57%	-99.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-200.3M	-7.300M
YoY Change	886.7%	-97.8%
NET CHANGE
Cash From Operating Activities	-4.800M	10.90M
Cash From Investing Activities	232.5M	6.200M
Cash From Financing Activities	-200.3M	-7.300M
Net Change In Cash	27.40M	9.800M
YoY Change	-549.18%	-68.18%
FREE CASH FLOW
Cash From Operating Activities	-$4.800M	$10.90M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2013	ambc	A2013 Rsu Award First Vesting Percent A2013RSUAwardFirstVestingPercent	0.50
CY2013	ambc	A2013 Rsu Award Second Vesting Percent A2013RSUAwardSecondVestingPercent	0.50
CY2015	ambc	A2015 Ceorsu Award Vesting Period A2015CEORSUAwardVestingPeriod	3
CY2016	ambc	A2016 Ceorsu Award Vesting Period A2016CEORSUAwardVestingPeriod	3
CY2016	ambc	A2016 Rsu Award Vesting Periods A2016RSUAwardVestingPeriods	3
CY2013Q2	ambc	Ambc Junior Surplus Notes Issued Ambc_JuniorSurplusNotesIssued	350000000	USD
CY2016Q4	ambc	Amount Of Insured Par Outstanding Ceded To Reinsurer AmountOfInsuredParOutstandingCededToReinsurer	6086000000	USD
CY2015Q4	ambc	Average Annual Rate Of Return AverageAnnualRateOfReturn	0.0806
CY2016Q4	ambc	Average Annual Rate Of Return AverageAnnualRateOfReturn	0.0763
CY2015Q4	ambc	Balance Of Rmbs Subrogation Recoveries Net Of Reinsurance BalanceOfRmbsSubrogationRecoveriesNetOfReinsurance	-2800149000	USD
CY2016Q4	ambc	Balance Of Rmbs Subrogation Recoveries Net Of Reinsurance BalanceOfRmbsSubrogationRecoveriesNetOfReinsurance	-1878740000	USD
CY2016	ambc	Bonus Awardin Rsu First Settlement Date BonusAwardinRSUFirstSettlementDate	0.50
CY2016	ambc	Bonus Awardin Rsu Second Settlement Date BonusAwardinRSUSecondSettlementDate	0.50
CY2014Q2	ambc	Deferred Amountsand Junior Deferred Amounts Accrued Interest Rate DeferredAmountsandJuniorDeferredAmountsAccruedInterestRate	0.051
CY2014	ambc	Deferred Amountsand Junior Deferred Amounts Accrued Interest Rate DeferredAmountsandJuniorDeferredAmountsAccruedInterestRate	0.051
CY2016	ambc	Deferred Amountsand Junior Deferred Amounts Accrued Interest Rate DeferredAmountsandJuniorDeferredAmountsAccruedInterestRate	0.051
CY2016Q4	ambc	Deferred Ceded Premiums And Reinsurance Recoverables DeferredCededPremiumsAndReinsuranceRecoverables	100042000	USD
CY2015Q4	ambc	Derivatives Credit Risk Valuation Adjustment Derivative Liabilities Other Than Credit Derivatives DerivativesCreditRiskValuationAdjustmentDerivativeLiabilitiesOtherThanCreditDerivatives	78728000	USD
CY2016	ambc	Bonus Awardin Restricted Stock Units BonusAwardinRestrictedStockUnits	0.25
CY2013Q2	ambc	Capital Stock Authorized CapitalStockAuthorized	150000000	shares
CY2015Q3	ambc	Cash Received From Delaware Trust CashReceivedFromDelawareTrust	146000000	USD
CY2016	ambc	Ceded Principal Outstanding Major Reinsurer Percentage CededPrincipalOutstandingMajorReinsurerPercentage	0.070
CY2014	ambc	Common Stock Additional Transfer Restrictions CommonStockAdditionalTransferRestrictions	0.05
CY2014	ambc	Common Stock Transfer Restrictions CommonStockTransferRestrictions	0.05
CY2014	ambc	Common Stock Voting Restriction Less One Vote CommonStockVotingRestrictionLessOneVote	0.10
CY2014	ambc	Common Stock Voting Restrictions CommonStockVotingRestrictions	0.10
CY2014	ambc	Current Paymentasa Percentageof Permitted Policy Claim CurrentPaymentasaPercentageofPermittedPolicyClaim	0.45
CY2014Q4	ambc	December2014 Paymentof Deferred Amounts December2014PaymentofDeferredAmounts	1137202000	USD
CY2016Q4	ambc	Derivatives Credit Risk Valuation Adjustment Derivative Liabilities Other Than Credit Derivatives DerivativesCreditRiskValuationAdjustmentDerivativeLiabilitiesOtherThanCreditDerivatives	44943000	USD
CY2014	ambc	Equalizing Paymenton Unpaid Permitted Policy Claim EqualizingPaymentonUnpaidPermittedPolicyClaim	0.2667
CY2015Q4	ambc	Estimated Future Premium Payments Weighted Average Discounted Rate EstimatedFuturePremiumPaymentsWeightedAverageDiscountedRate	0.027
CY2016Q4	ambc	Estimated Future Premium Payments Weighted Average Discounted Rate EstimatedFuturePremiumPaymentsWeightedAverageDiscountedRate	0.026
CY2016	ambc	Fair Value Measurement Process Description For Credit Derivatives Hypothetical Incremental Fee FairValueMeasurementProcessDescriptionForCreditDerivativesHypotheticalIncrementalFee	0.0005
CY2016	ambc	Fair Value Measurement Process Description For Credit Derivatives Hypothetical Incremental Fee With Credit Deterioration FairValueMeasurementProcessDescriptionForCreditDerivativesHypotheticalIncrementalFeeWithCreditDeterioration	0.0015
CY2016	ambc	Fair Value Measurement Process Description For Credit Derivatives Remaining Life FairValueMeasurementProcessDescriptionForCreditDerivativesRemainingLife	P8Y
CY2016	ambc	Fair Value Measurement Process Description For Credit Derivatives Revised Relative Change Ratio FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedRelativeChangeRatio	0.732
CY2015Q4	ambc	Fair Value Of Securities Deposited With Governmental Authorities FairValueOfSecuritiesDepositedWithGovernmentalAuthorities	6762000	USD
CY2016Q4	ambc	Fair Value Of Securities Deposited With Governmental Authorities FairValueOfSecuritiesDepositedWithGovernmentalAuthorities	5872000	USD
CY2015Q4	ambc	Fair Valueof Securities Placedin Trust FairValueofSecuritiesPlacedinTrust	360759000	USD
CY2015Q4	ambc	Financial Guarantee Gross Outstanding Principal FinancialGuaranteeGrossOutstandingPrincipal	119235000000	USD
CY2016Q4	ambc	Financial Guarantee Gross Outstanding Principal FinancialGuaranteeGrossOutstandingPrincipal	86373000000	USD
CY2015Q4	ambc	Financial Guarantee Gross Outstanding Principal And Interest FinancialGuaranteeGrossOutstandingPrincipalAndInterest	188853000000	USD
CY2016Q4	ambc	Financial Guarantee Gross Outstanding Principal And Interest FinancialGuaranteeGrossOutstandingPrincipalAndInterest	137745000000	USD
CY2016Q4	ambc	Financial Guarantee Outstanding Principal Ceded To Third Parties FinancialGuaranteeOutstandingPrincipalCededToThirdParties	7027000000	USD
CY2015	ambc	Interest Rate On Term Loan InterestRateOnTermLoan	0.0475
CY2016	ambc	Interest Rate On Term Loan InterestRateOnTermLoan	0.0453
CY2014	ambc	Interest Rateon Private Placement Obligations InterestRateonPrivatePlacementObligations	0.051
CY2016	ambc	Loan Maturity Date LoanMaturityDate	2026-06-30
CY2015Q4	ambc	Loans Unpaid Principal Balance LoansUnpaidPrincipalBalance	6205000	USD
CY2016Q4	ambc	Loans Unpaid Principal Balance LoansUnpaidPrincipalBalance	4873000	USD
CY2015Q4	ambc	Loss Reserves Ceded To Reinsurers LossReservesCededToReinsurers	44059000	USD
CY2016Q4	ambc	Loss Reserves Ceded To Reinsurers LossReservesCededToReinsurers	30767000	USD
CY2015Q4	ambc	Net Financial Guarantee Principal And Interest In Force NetFinancialGuaranteePrincipalAndInterestInForce	171000000000	USD
CY2016Q4	ambc	Net Financial Guarantee Principal And Interest In Force NetFinancialGuaranteePrincipalAndInterestInForce	126306000000	USD
CY2014Q4	ambc	November2014 Paymentof Surplus Notes November2014PaymentofSurplusNotes	413587000	USD
CY2016	ambc	Numberof Cash Claim Paymentsby Ambac Assurance NumberofCashClaimPaymentsbyAmbacAssurance	2
CY2015Q3	ambc	Numberof Rmbs Sold NumberofRMBSSold	17
CY2016	ambc	Psu Unrecognized Compensation Yearsto Go PSUUnrecognizedCompensationYearstoGo	P1Y9M5D
CY2014Q4	ambc	Par Valueof Private Placement ParValueofPrivatePlacement	299175000	USD
CY2015Q4	ambc	Par Valueof Securities Placedin Trust ParValueofSecuritiesPlacedinTrust	331035000	USD
CY2014Q4	ambc	Payment As Percentage Of Permitted Policy Claim PaymentAsPercentageOfPermittedPolicyClaim	0.25
CY2014	ambc	Payment As Percentage Of Permitted Policy Claim PaymentAsPercentageOfPermittedPolicyClaim	0.25
CY2016	ambc	Percentage Of Ceded Financial Guarantee Principal Outstanding PercentageOfCededFinancialGuaranteePrincipalOutstanding	1.00
CY2016Q4	ambc	Percentage Of Credit Derivative Gross Par Outstanding Using Internally Estimated Reference Obligation Prices In Determination Of Fair Value PercentageOfCreditDerivativeGrossParOutstandingUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue	0.00
CY2016Q4	ambc	Percentage Of Credit Derivative Liability Using Internally Estimated Reference Obligation Prices In Determination Of Fair Value PercentageOfCreditDerivativeLiabilityUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue	0.00
CY2016Q4	ambc	Percentage Of Highest Single Insured Risk Of Aggregate Net Par Amount Guaranteed PercentageOfHighestSingleInsuredRiskOfAggregateNetParAmountGuaranteed	0.021
CY2016	ambc	Percentage Of Policy Holders Surplus PercentageOfPolicyHoldersSurplus	0.10
CY2016Q4	ambc	Performance Stock Units Unrecognized Compensation Expense PerformanceStockUnitsUnrecognizedCompensationExpense	2874000	USD
CY2016	ambc	Prescribed Discount Rate Percentage PrescribedDiscountRatePercentage	0.0510
CY2014	ambc	Private Placement Maturity Date PrivatePlacementMaturityDate	2039-08-28
CY2014	ambc	Private Placement Par Value Proceeds PrivatePlacementParValueProceeds	0.80
CY2016	ambc	Quarterly Dividend Increase Limitation Percentage QuarterlyDividendIncreaseLimitationPercentage	0.15
CY2016Q4	ambc	Remaining Warrant Buy Back Authorized Dollars RemainingWarrantBuyBackAuthorizedDollars	11939000	USD
CY2015Q4	ambc	Securities Held To Collateralize And Fund Repayment Of Debt Issued Through Resecuritization Transaction Fair Value SecuritiesHeldToCollateralizeAndFundRepaymentOfDebtIssuedThroughResecuritizationTransactionFairValue	396100000	USD
CY2016Q4	ambc	Securities Held To Collateralize And Fund Repayment Of Debt Issued Through Resecuritization Transaction Fair Value SecuritiesHeldToCollateralizeAndFundRepaymentOfDebtIssuedThroughResecuritizationTransactionFairValue	360759000	USD
CY2015Q3	ambc	Securities Issuedby Delaware Trust SecuritiesIssuedbyDelawareTrust	146000000	USD
CY2015Q4	ambc	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Restricted Stock Units Vested Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsRestrictedStockUnitsVestedNumber	130042	shares
CY2016Q4	ambc	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Restricted Stock Units Vested Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsRestrictedStockUnitsVestedNumber	57950	shares
CY2016Q4	ambc	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Restricted Stock Units Vested Number Settled Next Year ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsRestrictedStockUnitsVestedNumberSettledNextYear	103486	shares
CY2015	ambc	Tier Abc Credit TierABCCredit	5000000	USD
CY2015	ambc	Tier Ab Credit TierABCredit	-10000000	USD
CY2016Q4	ambc	Tier C Tolling Payments Payableto Irs TierCTollingPaymentsPayabletoIRS	0.125
CY2016Q4	ambc	Tier D Tolling Payments Payableto Irs TierDTollingPaymentsPayabletoIRS	0.175
CY2015Q4	ambc	Tolling Payment Payableto Afg TollingPaymentPayabletoAFG	70911000	USD
CY2016Q4	ambc	Tolling Payment Payableto Afg TollingPaymentPayabletoAFG	28691000	USD
CY2016Q4	ambc	Tolling Payment Payableto Afg Gross TollingPaymentPayabletoAFGGross	28691000	USD
CY2015Q4	ambc	Tolling Paymentto Afg TollingPaymenttoAFG	71454000	USD
CY2016	ambc	Transaction Limit TransactionLimit	5000000	USD
CY2016Q4	ambc	Unfunded Accumulated Postretirement Benefit Obligations Determined By Company UnfundedAccumulatedPostretirementBenefitObligationsDeterminedByCompany	9958000	USD
CY2014	ambc	Unpaidasa Percentageof Permitted Policy Claims UnpaidasaPercentageofPermittedPolicyClaims	0.55	Rate
CY2014	ambc	Unrecognized Tax Benefits Interest On Income Taxes Paid UnrecognizedTaxBenefitsInterestOnIncomeTaxesPaid	0	USD
CY2015	ambc	Unrecognized Tax Benefits Interest On Income Taxes Paid UnrecognizedTaxBenefitsInterestOnIncomeTaxesPaid	0	USD
CY2016	ambc	Unrecognized Tax Benefits Interest On Income Taxes Paid UnrecognizedTaxBenefitsInterestOnIncomeTaxesPaid	0	USD
CY2016Q4	ambc	Unsecured Reinsurance Recoverables UnsecuredReinsuranceRecoverables	3879000	USD
CY2016	dei	Amendment Flag AmendmentFlag	false
CY2016	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2016	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	FY
CY2016	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2016
CY2016	dei	Document Period End Date DocumentPeriodEndDate	2016-12-31
CY2016	dei	Document Type DocumentType	10-K
CY2016	dei	Entity Central Index Key EntityCentralIndexKey	0000874501
CY2017Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	45224389	shares
CY2016	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2016	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2016	dei	Entity Incorporation Date Of Incorporation EntityIncorporationDateOfIncorporation	1991-04-29
CY2016Q2	dei	Entity Public Float EntityPublicFloat	742702392	USD
CY2013Q2	us-gaap	Business Acquisition Percentage Of Voting Interests Acquired BusinessAcquisitionPercentageOfVotingInterestsAcquired	0.50
CY2016	dei	Entity Registrant Name EntityRegistrantName	AMBAC FINANCIAL GROUP INC
CY2016	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2016	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	Yes
CY2016	dei	Trading Symbol TradingSymbol	AMBC
CY2015Q4	invest	Derivative Notional Amount DerivativeNotionalAmount	970883000	USD
CY2016Q4	invest	Derivative Notional Amount DerivativeNotionalAmount	737380000	USD
	invest	Investment Warrants Expiration Date InvestmentWarrantsExpirationDate	2023-04-30
CY2013Q2	us-gaap	Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1 ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1	16.67
CY2015Q4	us-gaap	Collateral Already Posted Aggregate Fair Value CollateralAlreadyPostedAggregateFairValue	147974000	USD
CY2015Q4	us-gaap	Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate	0.0425
CY2016Q4	us-gaap	Collateral Already Posted Aggregate Fair Value CollateralAlreadyPostedAggregateFairValue	128754000	USD
CY2013Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2013Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	130000000	shares
CY2013Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	45000000	shares
CY2015	us-gaap	Debt Instrument Interest Rate Effective Percentage Rate Range Maximum DebtInstrumentInterestRateEffectivePercentageRateRangeMaximum	0.0043
CY2016	us-gaap	Debt Instrument Interest Rate Effective Percentage Rate Range Maximum DebtInstrumentInterestRateEffectivePercentageRateRangeMaximum	0.0094
CY2015	us-gaap	Debt Instrument Interest Rate Effective Percentage Rate Range Minimum DebtInstrumentInterestRateEffectivePercentageRateRangeMinimum	0.0043
CY2016	us-gaap	Debt Instrument Interest Rate Effective Percentage Rate Range Minimum DebtInstrumentInterestRateEffectivePercentageRateRangeMinimum	0.0094
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CY2016Q4	us-gaap	Defined Benefit Plan Benefit Obligation DefinedBenefitPlanBenefitObligation	3837000	USD
CY2016	us-gaap	Defined Benefit Plan Effect Of One Percentage Point Decrease On Accumulated Postretirement Benefit Obligation1 DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnAccumulatedPostretirementBenefitObligation1	260000	USD
CY2016	us-gaap	Defined Benefit Plan Effect Of One Percentage Point Decrease On Service And Interest Cost Components1 DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnServiceAndInterestCostComponents1	19000	USD
CY2016	us-gaap	Defined Benefit Plan Effect Of One Percentage Point Increase On Accumulated Postretirement Benefit Obligation DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnAccumulatedPostretirementBenefitObligation	187000	USD
CY2016	us-gaap	Defined Benefit Plan Effect Of One Percentage Point Increase On Service And Interest Cost Components DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnServiceAndInterestCostComponents	13000	USD
CY2016Q4	us-gaap	Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter	2269000	USD
CY2016Q4	us-gaap	Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths	270000	USD
CY2016Q4	us-gaap	Defined Benefit Plan Expected Future Benefit Payments Year Five DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive	353000	USD
CY2016Q4	us-gaap	Defined Benefit Plan Expected Future Benefit Payments Year Four DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour	332000	USD
CY2016Q4	us-gaap	Defined Benefit Plan Expected Future Benefit Payments Year Three DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree	318000	USD
CY2016Q4	us-gaap	Defined Benefit Plan Expected Future Benefit Payments Year Two DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo	295000	USD
CY2015Q4	us-gaap	Derivative Collateral Right To Reclaim Cash DerivativeCollateralRightToReclaimCash	165073000	USD
CY2016Q4	us-gaap	Derivative Collateral Right To Reclaim Cash DerivativeCollateralRightToReclaimCash	137701000	USD
CY2015Q4	us-gaap	Derivative Credit Risk Valuation Adjustment Derivative Liabilities DerivativeCreditRiskValuationAdjustmentDerivativeLiabilities	10124000	USD
CY2016Q4	us-gaap	Derivative Credit Risk Valuation Adjustment Derivative Liabilities DerivativeCreditRiskValuationAdjustmentDerivativeLiabilities	1924000	USD
CY2015Q4	us-gaap	Derivative Fair Value Of Derivative Liability DerivativeFairValueOfDerivativeLiability	34543000	USD
CY2016Q4	us-gaap	Derivative Fair Value Of Derivative Liability DerivativeFairValueOfDerivativeLiability	15349000	USD
CY2015Q4	us-gaap	Derivative Net Liability Position Aggregate Fair Value DerivativeNetLiabilityPositionAggregateFairValue	95415000	USD
CY2016Q4	us-gaap	Derivative Net Liability Position Aggregate Fair Value DerivativeNetLiabilityPositionAggregateFairValue	82944000	USD
CY2016Q4	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions	0	USD
CY2015Q4	us-gaap	Equity Method Investments EquityMethodInvestments	25339000	USD
CY2016Q4	us-gaap	Equity Method Investments EquityMethodInvestments	30003000	USD
CY2015	us-gaap	Financial Guarantee Insurance Contracts Premium Received Over Contract Period Premium Receivable Weighted Average Collection Period1 FinancialGuaranteeInsuranceContractsPremiumReceivedOverContractPeriodPremiumReceivableWeightedAverageCollectionPeriod1	P9Y2M12D
CY2016	us-gaap	Financial Guarantee Insurance Contracts Premium Received Over Contract Period Premium Receivable Weighted Average Collection Period1 FinancialGuaranteeInsuranceContractsPremiumReceivedOverContractPeriodPremiumReceivableWeightedAverageCollectionPeriod1	P9Y
CY2014	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-25483000	USD
CY2015	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-17010000	USD
CY2016	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-39128000	USD
CY2016Q4	us-gaap	Gain Contingency Unrecorded Amount GainContingencyUnrecordedAmount	285000000	USD
CY2011Q3	us-gaap	Income Tax Examination Penalties And Interest Accrued IncomeTaxExaminationPenaltiesAndInterestAccrued	3650000000	USD
CY2016Q4	us-gaap	Letters Of Credit Outstanding Amount LettersOfCreditOutstandingAmount	122912000	USD
CY2016	us-gaap	Litigation Settlement Amount LitigationSettlementAmount	995000000	USD
CY2016	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	2	Segment
CY2016Q4	us-gaap	Operating Loss Carryforwards OperatingLossCarryforwards	4027329000	USD
CY2014	us-gaap	Other Labor Related Expenses OtherLaborRelatedExpenses	190000	USD
CY2015	us-gaap	Other Labor Related Expenses OtherLaborRelatedExpenses	892000	USD
CY2016	us-gaap	Other Labor Related Expenses OtherLaborRelatedExpenses	1790000	USD
CY2015Q4	us-gaap	Participating Policies Amount In Force ParticipatingPoliciesAmountInForce	108299000000	USD
CY2016Q4	us-gaap	Participating Policies Amount In Force ParticipatingPoliciesAmountInForce	79346000000	USD
CY2013Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2013Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	20000000	shares
CY2015Q4	us-gaap	Secured Debt SecuredDebt	130571000	USD
CY2016Q4	us-gaap	Secured Debt SecuredDebt	102403000	USD
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber	78460	shares
CY2016Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber	102794	shares
CY2016Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized	4000000	shares
CY2016Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant	3004639	shares
CY2016	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod	P7Y
CY2016	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P1Y11M28D
CY2016	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P1Y11M28D
CY2014Q4	us-gaap	Unrecognized Tax Benefits Interest On Income Taxes Accrued UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued	0	USD
CY2015Q4	us-gaap	Unrecognized Tax Benefits Interest On Income Taxes Accrued UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued	0	USD
CY2016Q4	us-gaap	Unrecognized Tax Benefits Interest On Income Taxes Accrued UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued	0	USD
CY2015Q4	us-gaap	Variable Interest Entity Consolidated Carrying Amount Assets VariableInterestEntityConsolidatedCarryingAmountAssets	14288497000	USD
CY2016Q4	us-gaap	Variable Interest Entity Consolidated Carrying Amount Assets VariableInterestEntityConsolidatedCarryingAmountAssets	13367834000	USD
CY2015Q4	us-gaap	Variable Interest Entity Consolidated Carrying Amount Liabilities VariableInterestEntityConsolidatedCarryingAmountLiabilities	14259776000	USD
CY2016Q4	us-gaap	Variable Interest Entity Consolidated Carrying Amount Liabilities VariableInterestEntityConsolidatedCarryingAmountLiabilities	13235425000	USD
CY2016	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;text-align:left;font-size:9pt;"><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-weight:bold;">Reclassifications:</font></div><div style="line-height:120%;padding-bottom:12px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Certain reclassifications have been made to prior years' amounts to conform to the current year's presentation.</font></div></div>
CY2016	us-gaap	Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:0px;text-align:justify;font-size:9pt;"><font style="font-family:Times New Roman;font-size:9pt;color:#000000;">Below is the loss and loss expense reserve roll-forward, net of subrogation recoverable and reinsurance, for the affected periods. Current year represents activity related to policies with newly established loss and loss expense reserves. Prior years represents activity related to policies with loss and loss expense reserves established in prior years.</font></div><div style="line-height:120%;padding-bottom:4px;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="12" rowspan="1"></td></tr><tr><td style="width:59%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Year Ended December 31,</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2014</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Beginning gross loss and loss expense reserves</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,858,813</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,798,733</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5,470,234</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Reinsurance recoverable</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">44,059</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">100,355</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">122,357</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Beginning balance of net loss and loss expense reserves</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,814,754</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,698,378</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5,347,877</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Losses and loss expenses (benefit) incurred:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Current year</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6,675</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,183</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">309</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Prior years</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(18,164</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(769,890</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(545,883</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Total </font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)(2)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(11,489</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(768,707</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(545,574</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Loss and loss expenses (recovered) paid:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Current year</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5,371</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">17</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Prior years</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(944,955</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">90,086</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,067,321</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Total</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(939,584</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">90,086</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,067,338</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Foreign exchange effect</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(77,578</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(24,831</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(36,587</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Ending net loss and loss expense reserves</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,665,271</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,814,754</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,698,378</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Reinsurance recoverable </font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(3)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">30,767</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">44,059</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">100,355</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Ending gross loss and loss expense reserves </font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(4)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">3,696,038</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2,858,813</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">3,798,733</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:Times New Roman;font-size:8pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">Total losses and loss expenses (benefit) incurred includes </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">$5,421</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">, </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">$47,085</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;"> and </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">$21,164</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;"> or the years ended </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">December 31, 2016</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">, </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">2015</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;"> and </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">2014</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">, respectively, related to ceded reinsurance.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">(2)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">Ambac records the impact of estimated recoveries related to securitized loans in RMBS transactions that breached certain representations and warranties within losses and loss expenses (benefit). The losses and loss expense (benefit) incurred associated with changes in estimated representation and warranties for the year ended </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">December 31, 2016</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">, </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">2015</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">, and </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">2014</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;"> was </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">$(71,369)</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">, </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">$(303,633)</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;"> and </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">$(481,669)</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">, respectively.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">(3)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">Represents reinsurance recoverable on </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">future loss and loss expenses. Additionally, the </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">Balance Sheet line "</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">Reinsurance recoverable on paid and unpaid losses</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">" includes reinsurance recoverables (payables) of </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">$(349)</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">, </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">$(60)</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;"> and </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">$(517)</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;"> as of </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">December 31, 2016</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">, </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">2015</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;"> and </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">2014</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">, respectively, related to previously presented loss and loss expenses and subrogation.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:0px;padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">(4)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">Includes Euro denominated gross loss and loss expense reserves of </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">$21,375</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;"> (</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">€20,297</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">), </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">$19,019</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;"> (</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">€17,515</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">) and </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">$16,094</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;"> (</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">€13,300</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">) at </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">December 31, 2016</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">, </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">2015</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;"> and </font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">2014</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;">, respectively.</font></div></td></tr></table></div>

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$AMBC
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2017 Q1 Form 10-K Financial Statement

#000087450117000022 Filed on February 28, 2017

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$AMBC AMBAC FINANCIAL GROUP INC Stock $ambc

2017 Q1 Form 10-K Financial Statement

#000087450117000022 Filed on February 28, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AMBC
AMBAC FINANCIAL GROUP INC Stock $ambc