2016 Q3 Form 10-Q Financial Statement

#000091314416000006 Filed on November 02, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $442.5M $358.2M
YoY Change 23.51% 34.43%
Cost Of Revenue $112.6M $100.0M
YoY Change 12.54% 43.62%
Gross Profit $329.9M $258.2M
YoY Change 27.76% 31.17%
Gross Profit Margin 74.56% 72.08%
Selling, General & Admin $52.00M $62.00M
YoY Change -16.13% 21.81%
% of Gross Profit 15.76% 24.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $80.58M $78.13M
YoY Change 3.14% 108.06%
% of Gross Profit 24.43% 30.26%
Operating Expenses $40.49M $54.52M
YoY Change -25.73% 16.06%
Operating Profit $289.4M $203.7M
YoY Change 42.07% 35.91%
Interest Expense $10.54M $10.54M
YoY Change -0.06% 145.73%
% of Operating Profit 3.64% 5.18%
Other Income/Expense, Net
YoY Change
Pretax Income $186.7M $107.7M
YoY Change 73.39% 3.43%
Income Tax -$1.316M -$4.573M
% Of Pretax Income -0.7% -4.25%
Net Earnings $152.4M $81.12M
YoY Change 87.89% 10.51%
Net Earnings / Revenue 34.45% 22.65%
Basic Earnings Per Share $3.58 $1.68
Diluted Earnings Per Share $3.56 $1.66
COMMON SHARES
Basic Shares Outstanding 40.51M shares 44.56M shares
Diluted Shares Outstanding 40.73M shares 44.91M shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $493.3M $524.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $193.0M $322.0M
YoY Change -40.06% 119.05%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $120.6M $129.5M
YoY Change -6.89% 9.51%
Other Assets
YoY Change
Total Long-Term Assets $12.47B $11.58B
YoY Change 7.61% 41.11%
TOTAL ASSETS
Total Short-Term Assets $193.0M $322.0M
Total Long-Term Assets $12.47B $11.58B
Total Assets $12.66B $11.91B
YoY Change 6.32% 42.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $438.0M $603.0M
YoY Change -27.36% 112.32%
LONG-TERM LIABILITIES
Long-Term Debt $952.0M $969.0M
YoY Change -1.75% 289.16%
Other Long-Term Liabilities $228.0M $244.0M
YoY Change -6.56% 19.61%
Total Long-Term Liabilities $1.180B $1.213B
YoY Change -2.72% 167.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $438.0M $603.0M
Total Long-Term Liabilities $1.180B $1.213B
Total Liabilities $6.687B $6.187B
YoY Change 8.08% 75.28%
SHAREHOLDERS EQUITY
Retained Earnings $4.151B $3.700B
YoY Change 12.2% 12.34%
Common Stock $41.16M $44.12M
YoY Change -6.72% 13.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.808B $4.698B
YoY Change
Total Liabilities & Shareholders Equity $12.66B $11.91B
YoY Change 6.32% 42.48%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $152.4M $81.12M
YoY Change 87.89% 10.51%
Depreciation, Depletion And Amortization $80.58M $78.13M
YoY Change 3.14% 108.06%
Cash From Operating Activities $263.2M $191.5M
YoY Change 37.44% -12.95%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$149.9M $155.0M
YoY Change -196.71% -291.83%
Cash From Investing Activities -$149.9M $155.0M
YoY Change -196.71% -291.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -74.70M -215.9M
YoY Change -65.4% 53.45%
NET CHANGE
Cash From Operating Activities 263.2M 191.5M
Cash From Investing Activities -149.9M 155.0M
Cash From Financing Activities -74.70M -215.9M
Net Change In Cash 38.60M 130.6M
YoY Change -70.44% -8806.67%
FREE CASH FLOW
Cash From Operating Activities $263.2M $191.5M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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0 USD
CY2016Q3 us-gaap Due From Related Parties
DueFromRelatedParties
0 USD
CY2015Q4 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
0 USD
CY2016Q3 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
0 USD
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.68
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.25
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.58
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
9.77
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.66
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.19
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.56
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
9.71
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-11004000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
1316000 USD
CY2015Q4 us-gaap Equity Method Investments
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132351000 USD
CY2016Q3 us-gaap Equity Method Investments
EquityMethodInvestments
120569000 USD
CY2016Q3 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments
238061000 USD
CY2015Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
-498000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
81467000 USD
CY2016Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
-10127000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
-10700000 USD
CY2015Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
7500000 USD
CY2016Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
7500000 USD
CY2014Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
6726000 USD
CY2015Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
83347000 USD
CY2015Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
84544000 USD
CY2015Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1719000 USD
CY2016Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
-2680000 USD
CY2016Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
-12012000 USD
CY2015Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
616000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-4254000 USD
CY2016Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-5986000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-8368000 USD
CY2015Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
-41138000 USD
us-gaap Gain Loss On Investments
GainLossOnInvestments
-26101000 USD
CY2016Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
59870000 USD
us-gaap Gain Loss On Investments
GainLossOnInvestments
191295000 USD
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7322000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
65723000 USD
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11537000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
25514000 USD
CY2015Q3 us-gaap Gross Investment Income Operating
GrossInvestmentIncomeOperating
31917000 USD
us-gaap Gross Investment Income Operating
GrossInvestmentIncomeOperating
116953000 USD
CY2016Q3 us-gaap Gross Investment Income Operating
GrossInvestmentIncomeOperating
55513000 USD
us-gaap Gross Investment Income Operating
GrossInvestmentIncomeOperating
146045000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
107704000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
362054000 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
186745000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
546838000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
107704000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
362054000 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
186745000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
546838000 USD
CY2015Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5730000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
17185000 USD
CY2016Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-11630000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-3997000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
11303000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
-10173000 USD
CY2015Q3 us-gaap Income Loss From Subsidiaries Net Of Tax
IncomeLossFromSubsidiariesNetOfTax
0 USD
us-gaap Income Loss From Subsidiaries Net Of Tax
IncomeLossFromSubsidiariesNetOfTax
0 USD
CY2016Q3 us-gaap Income Loss From Subsidiaries Net Of Tax
IncomeLossFromSubsidiariesNetOfTax
0 USD
us-gaap Income Loss From Subsidiaries Net Of Tax
IncomeLossFromSubsidiariesNetOfTax
0 USD
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4573000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-54319000 USD
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1316000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8040000 USD
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
103460000 USD
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
152461000 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
0 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
0 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
118650000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-29378000 USD
us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
191470000 USD
us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
403322000 USD
us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
156184000 USD
us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
280750000 USD
us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
74124000 USD
us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
250686000 USD
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
70994000 USD
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
106243000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
296950000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
545034000 USD
CY2015Q3 us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
95568000 USD
us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
-140556000 USD
CY2016Q3 us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
62299000 USD
us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
-264284000 USD
CY2015Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
349000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
365000 shares
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
220000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
248000 shares
CY2015Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
265154000 USD
CY2016Q3 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
254678000 USD
CY2015Q3 us-gaap Interest Expense
InterestExpense
10542000 USD
us-gaap Interest Expense
InterestExpense
25720000 USD
CY2016Q3 us-gaap Interest Expense
InterestExpense
10536000 USD
us-gaap Interest Expense
InterestExpense
31610000 USD
CY2015Q3 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
3579000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
10304000 USD
CY2016Q3 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
4090000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
11635000 USD
CY2015Q4 us-gaap Investments
Investments
8999068000 USD
CY2016Q3 us-gaap Investments
Investments
9214555000 USD
CY2015Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
0 USD
CY2016Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
0 USD
CY2015Q4 us-gaap Liabilities
Liabilities
5777139000 USD
CY2016Q3 us-gaap Liabilities
Liabilities
6687188000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
11555287000 USD
CY2016Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
12659531000 USD
CY2015Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
2767045000 USD
CY2016Q3 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
2861099000 USD
CY2015Q3 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
100028000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
346225000 USD
CY2016Q3 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
112575000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
406930000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Period Increase Decrease
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpensePeriodIncreaseDecrease
14293000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Period Increase Decrease
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpensePeriodIncreaseDecrease
-94054000 USD
CY2015Q4 us-gaap Long Term Debt
LongTermDebt
960495000 USD
CY2016Q3 us-gaap Long Term Debt
LongTermDebt
951620000 USD
CY2015Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
973300000 USD
CY2016Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1000000000 USD
CY2015Q3 us-gaap Loss Ratio
LossRatio
0.276
CY2015Q4 us-gaap Other Investments
OtherInvestments
481621000 USD
us-gaap Loss Ratio
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0.333
CY2016Q3 us-gaap Loss Ratio
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0.325
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-410602000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-155412000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
25728000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
162147000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
370003000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
81124000 USD
us-gaap Net Income Loss
NetIncomeLoss
333391000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
152420000 USD
us-gaap Net Income Loss
NetIncomeLoss
427931000 USD
CY2015Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
31153000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
82982000 USD
CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
35641000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
110867000 USD
CY2015Q3 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
31153000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
82982000 USD
CY2016Q3 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
35641000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
110867000 USD
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
75529000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
316605000 USD
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
146825000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
411145000 USD
CY2015Q3 us-gaap Net Investment Income
NetInvestmentIncome
28338000 USD
us-gaap Net Investment Income
NetInvestmentIncome
106649000 USD
CY2016Q3 us-gaap Net Investment Income
NetInvestmentIncome
51423000 USD
us-gaap Net Investment Income
NetInvestmentIncome
134410000 USD
CY2015Q3 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsRedeemable
31153000 USD
us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsRedeemable
82982000 USD
CY2016Q3 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsRedeemable
35641000 USD
us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsRedeemable
110867000 USD
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
54518000 USD
us-gaap Operating Expenses
OperatingExpenses
154812000 USD
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
40493000 USD
us-gaap Operating Expenses
OperatingExpenses
147801000 USD
CY2015Q4 us-gaap Other Assets
OtherAssets
181011000 USD
CY2016Q3 us-gaap Other Assets
OtherAssets
181290000 USD
CY2015Q4 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
3463000 USD
CY2016Q3 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
5804000 USD
CY2015Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
733000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
1156000 USD
CY2016Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-284000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-513000 USD
CY2015Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-733000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-1156000 USD
CY2016Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
284000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
513000 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 USD
CY2016Q3 us-gaap Other Investments
OtherInvestments
511621000 USD
CY2015Q4 us-gaap Other Liabilities
OtherLiabilities
245145000 USD
CY2016Q3 us-gaap Other Liabilities
OtherLiabilities
227847000 USD
CY2015Q4 us-gaap Other Liabilities Fair Value Disclosure
OtherLiabilitiesFairValueDisclosure
9362000 USD
CY2016Q3 us-gaap Other Liabilities Fair Value Disclosure
OtherLiabilitiesFairValueDisclosure
17816000 USD
CY2015Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
2306000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
5272000 USD
CY2016Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
2268000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
9001000 USD
CY2015Q4 us-gaap Payables To Broker Dealers And Clearing Organizations
PayablesToBrokerDealersAndClearingOrganizations
391378000 USD
CY2016Q3 us-gaap Payables To Broker Dealers And Clearing Organizations
PayablesToBrokerDealersAndClearingOrganizations
437826000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-4500000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-400000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
197350000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
309434000 USD
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
187339000 USD
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
45496000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
40883000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
38886000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
16786000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
16786000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
678152000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
45000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 USD
us-gaap Payments To Acquire Trading Securities Heldforinvestment
PaymentsToAcquireTradingSecuritiesHeldforinvestment
7194793000 USD
us-gaap Payments To Acquire Trading Securities Heldforinvestment
PaymentsToAcquireTradingSecuritiesHeldforinvestment
6744838000 USD
CY2015Q3 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
121744000 USD
us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
433558000 USD
CY2016Q3 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
153846000 USD
us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
540696000 USD
CY2015Q3 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
100028000 USD
us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
346225000 USD
CY2016Q3 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
112575000 USD
us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
406930000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
16000000 shares
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
16000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
16000000 shares
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
16000000 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
400000000 USD
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
400000000 USD
CY2015Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
362388000 USD
CY2016Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
346521000 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
1038976000 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
1051529000 USD
CY2015Q4 us-gaap Premiums Receivable At Carrying Value
PremiumsReceivableAtCarryingValue
778009000 USD
CY2016Q3 us-gaap Premiums Receivable At Carrying Value
PremiumsReceivableAtCarryingValue
1181331000 USD
CY2015Q3 us-gaap Premiums Written Gross
PremiumsWrittenGross
369642000 USD
us-gaap Premiums Written Gross
PremiumsWrittenGross
1675217000 USD
CY2016Q3 us-gaap Premiums Written Gross
PremiumsWrittenGross
430224000 USD
us-gaap Premiums Written Gross
PremiumsWrittenGross
2051485000 USD
CY2015Q3 us-gaap Premiums Written Net
PremiumsWrittenNet
266820000 USD
us-gaap Premiums Written Net
PremiumsWrittenNet
1179532000 USD
CY2016Q3 us-gaap Premiums Written Net
PremiumsWrittenNet
284222000 USD
us-gaap Premiums Written Net
PremiumsWrittenNet
1315813000 USD
CY2015Q4 us-gaap Prepaid Reinsurance Premiums
PrepaidReinsurancePremiums
230671000 USD
CY2016Q3 us-gaap Prepaid Reinsurance Premiums
PrepaidReinsurancePremiums
511421000 USD
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
0 USD
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
0 USD
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
445589000 USD
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 USD
us-gaap Proceeds From Payments For Trading Securities
ProceedsFromPaymentsForTradingSecurities
-153452000 USD
us-gaap Proceeds From Payments For Trading Securities
ProceedsFromPaymentsForTradingSecurities
183112000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
6741000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
5931000 USD
us-gaap Proceeds From Sale And Maturity Of Trading Securities Heldforinvestment
ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment
6956729000 USD
us-gaap Proceeds From Sale And Maturity Of Trading Securities Heldforinvestment
ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment
6509019000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
112277000 USD
us-gaap Profit Loss
ProfitLoss
416373000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
188061000 USD
us-gaap Profit Loss
ProfitLoss
538798000 USD
CY2015Q4 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
220834000 USD
CY2016Q3 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
193071000 USD
CY2015Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
1045964000 USD
CY2016Q3 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
1164553000 USD
CY2015Q3 us-gaap Reinsurance Costs And Recoveries Net
ReinsuranceCostsAndRecoveriesNet
21716000 USD
us-gaap Reinsurance Costs And Recoveries Net
ReinsuranceCostsAndRecoveriesNet
87333000 USD
CY2016Q3 us-gaap Reinsurance Costs And Recoveries Net
ReinsuranceCostsAndRecoveriesNet
41271000 USD
us-gaap Reinsurance Costs And Recoveries Net
ReinsuranceCostsAndRecoveriesNet
133766000 USD
CY2015Q4 us-gaap Reinsurance Payable
ReinsurancePayable
523974000 USD
CY2016Q3 us-gaap Reinsurance Payable
ReinsurancePayable
774660000 USD
CY2015Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
134526000 USD
CY2016Q3 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
240769000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3778701000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4150960000 USD
CY2015Q3 us-gaap Revenues
Revenues
358240000 USD
us-gaap Revenues
Revenues
1137727000 USD
CY2016Q3 us-gaap Revenues
Revenues
442466000 USD
us-gaap Revenues
Revenues
1373870000 USD
CY2016Q3 us-gaap Trading Securities Debt Amortized Cost
TradingSecuritiesDebtAmortizedCost
7014564000 USD
CY2015Q4 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
26200000 USD
CY2016Q3 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
58200000 USD
CY2015Q4 us-gaap Short Term Investments
ShortTermInvestments
1208401000 USD
CY2016Q3 us-gaap Short Term Investments
ShortTermInvestments
1136660000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
4732184000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
4807790000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4697643000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4807790000 USD
CY2015Q3 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
170378000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
471796000 USD
CY2016Q3 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
158360000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
483574000 USD
CY2015Q3 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-70350000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-125571000 USD
CY2016Q3 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-45785000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-76644000 USD
CY2016Q3 us-gaap Trading Securities
TradingSecurities
7088419000 USD
CY2015Q4 us-gaap Trading Securities Cost
TradingSecuritiesCost
6825877000 USD
CY2016Q3 us-gaap Trading Securities Cost
TradingSecuritiesCost
7014564000 USD
CY2015Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
6765005000 USD
CY2016Q3 us-gaap Trading Securities Debt
TradingSecuritiesDebt
7088419000 USD
CY2015Q4 us-gaap Trading Securities Equity
TradingSecuritiesEquity
393877000 USD
CY2016Q3 us-gaap Trading Securities Equity
TradingSecuritiesEquity
345565000 USD
CY2015Q3 us-gaap Underwriting Expense Ratio
UnderwritingExpenseRatio
0.366
us-gaap Underwriting Expense Ratio
UnderwritingExpenseRatio
0.326
CY2016Q3 us-gaap Underwriting Expense Ratio
UnderwritingExpenseRatio
0.349
us-gaap Underwriting Expense Ratio
UnderwritingExpenseRatio
0.345
CY2015Q3 us-gaap Undistributed Earnings
UndistributedEarnings
74662000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
312963000 USD
CY2016Q3 us-gaap Undistributed Earnings
UndistributedEarnings
145055000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
406206000 USD
CY2015Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
867000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
3642000 USD
CY2016Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1770000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
4939000 USD
CY2015Q4 us-gaap Unearned Premiums
UnearnedPremiums
889102000 USD
CY2016Q3 us-gaap Unearned Premiums
UnearnedPremiums
1434136000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-10690000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-17608000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-426000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
0 USD
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44913000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43531000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40733000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41842000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44564000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43166000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40513000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41594000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">USE OF ESTIMATES IN FINANCIAL STATEMENTS</font></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported and disclosed amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. The major estimates reflected in the Company&#8217;s consolidated financial statements include, but are not limited to, the reserve for claims and claim expenses; reinsurance recoverables, including allowances for reinsurance recoverables deemed uncollectible; estimates of written and earned premiums; fair value, including the fair value of investments, financial instruments and derivatives; impairment charges and the Company&#8217;s deferred tax valuation allowance.</font></div></div>

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report.css Edgar Link pending
rnr-20160930.xml Edgar Link completed
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