Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2016	Nov. 01, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q3
Trading Symbol	MHLD
Entity Registrant Name	Maiden Holdings, Ltd.
Entity Central Index Key	0001412100
Current Fiscal Year End Data	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		86,131,861

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Fixed maturities, available-for-sale, at fair value (amortized cost 2016: $3,660,873; 2015: $3,562,864)	$ 3,748,342	$ 3,508,088
Fixed maturities, held-to-maturity, at amortized cost (fair value 2016: $798,081; 2015: $598,975)	759,973	607,843
Other investments, at fair value (cost 2016: $10,860; 2015: $10,816)	12,268	11,812
Total investments	4,520,583	4,127,743
Cash and cash equivalents	67,459	89,641
Restricted cash and cash equivalents	366,563	242,859
Accrued investment income	33,884	32,288
Reinsurance balances receivable, net (includes $220,555 and $147,365 from related parties in 2016 and 2015, respectively)	535,015	377,318
Reinsurance recoverable on unpaid losses	97,070	71,248
Loan to related party	167,975	167,975
Deferred commission and other acquisition expenses, net (includes $388,099 and $341,025 from related parties in 2016 and 2015, respectively)	451,698	397,548
Goodwill and intangible assets, net	80,135	81,920
Other assets	147,580	115,038
Total assets	6,467,962	5,703,578
LIABILITIES
Reserve for loss and loss adjustment expenses (includes $1,676,647 and $1,443,639 from related parties in 2016 and 2015, respectively)	2,759,518	2,510,101
Unearned premiums (includes $1,204,853 and $1,077,460 from related parties in 2016 and 2015, respectively)	1,571,435	1,354,572
Accrued expenses and other liabilities	150,741	135,897
Liability for securities purchased	78,581	3,976
Senior Notes - principal amount	362,500	360,000
Less unamortized issuance costs	11,172	10,067
Senior notes, net	351,328	349,933
Total liabilities	4,911,603	4,354,479
Commitments and Contingencies
EQUITY
Preference shares	315,000	480,000
Common shares ($0.01 par value: 87,178,902 and 74,735,785 shares issued in 2016 and 2015, respectively; 86,128,999 and 73,721,140 shares outstanding in 2016 and 2015, respectively)	872	747
Additional paid-in capital	747,203	579,178
Accumulated other comprehensive income (loss)	123,876	(23,767)
Retained earnings	373,340	316,184
Treasury shares, at cost (1,049,903 and 1,014,645 shares in 2016 and 2015, respectively)	(4,991)	(4,521)
Total Maiden shareholders’ equity	1,555,300	1,347,821
Noncontrolling interest in subsidiaries	1,059	1,278
Total equity	1,556,359	1,349,099
Total liabilities and equity	$ 6,467,962	$ 5,703,578

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fixed maturities, available-for-sale, amortized cost	$ 3,660,873	$ 3,562,864
Fixed maturities, held-to-maturity securities, fair value	798,081	598,975
Other Investments, cost	10,860	10,816
Reinsurance balance receivable, net	535,015	377,318
Reinsurance recoverable on unpaid losses	97,070	71,248
Deferred commissions and other acquisition expenses	451,698	397,548
Reserve for loss and loss adjustment expenses	2,759,518	2,510,101
Unearned premiums	$ 1,571,435	$ 1,354,572
Common shares, par value (in USD per share)	$ 0.01	$ 0.01
Common shares, shares issued (in shares)	87,178,902	74,735,785
Common shares, shares outstanding (in shares)	86,128,999	73,721,140
Treasury shares (in shares)	1,049,903	1,014,645
Related Party Transactions
Reinsurance balance receivable, net	$ 220,555	$ 147,365
Deferred commissions and other acquisition expenses	388,099	341,025
Reserve for loss and loss adjustment expenses	1,676,647	1,443,639
Unearned premiums	$ 1,204,853	$ 1,077,460

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues:
Gross premiums written	$ 706,854,000	$ 628,501,000	$ 2,259,290,000	$ 2,136,935,000
Net premiums written	690,653,000	599,153,000	2,133,911,000	2,025,754,000
Change in unearned premiums	7,625,000	59,367,000	(182,060,000)	(180,495,000)
Net premiums earned	698,278,000	658,520,000	1,951,851,000	1,845,259,000
Other insurance revenue	2,345,000	2,177,000	8,696,000	9,408,000
Net investment income	35,666,000	32,843,000	107,291,000	96,260,000
Net realized gains on investment	1,900,000	1,216,000	4,511,000	2,327,000
Total other-than-temporary impairment losses	0	(1,060,000)	0	(1,060,000)
Portion of loss recognized in other comprehensive income (loss)	0	0	0	0
Net impairment losses recognized in earnings	0	(1,060,000)	0	(1,060,000)
Total revenues	738,189,000	693,696,000	2,072,349,000	1,952,194,000
Expenses:
Net loss and loss adjustment expenses	466,751,000	444,172,000	1,297,361,000	1,236,505,000
Commission and other acquisition expenses	206,706,000	197,639,000	587,501,000	551,678,000
General and administrative expenses	16,952,000	16,453,000	49,738,000	48,951,000
Interest and amortization expenses	6,856,000	7,266,000	21,314,000	21,796,000
Accelerated amortization of senior note issuance cost	0	0	2,345,000	0
Amortization of intangible assets	616,000	710,000	1,846,000	2,130,000
Foreign exchange and other gains	(687,000)	(1,427,000)	(6,474,000)	(4,062,000)
Total expenses	697,194,000	664,813,000	1,953,631,000	1,856,998,000
Income before income taxes	40,995,000	28,883,000	118,718,000	95,196,000
Income tax expense	199,000	368,000	1,206,000	1,636,000
Net income	40,796,000	28,515,000	117,512,000	93,560,000
Loss attributable to noncontrolling interest	56,000	69,000	166,000	116,000
Net income attributable to Maiden shareholders	40,852,000	28,584,000	117,678,000	93,676,000
Dividends on preference shares	(9,023,000)	(6,085,000)	(27,723,000)	(18,253,000)
Net income attributable to Maiden common shareholders	$ 31,829,000	$ 22,499,000	$ 89,955,000	$ 75,423,000
Basic earnings per share attributable to Maiden common shareholders (in dollars per share)	$ 0.42	$ 0.31	$ 1.20	$ 1.03
Diluted earnings per share attributable to Maiden common shareholders (in dollars per share)	0.40	0.30	1.15	0.99
Dividends declared per common share (in dollars per share)	$ 0.14	$ 0.13	$ 0.42	$ 0.39

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Comprehensive income:
Net income	$ 40,796	$ 28,515	$ 117,512	$ 93,560
Other comprehensive income (loss), before tax
Net unrealized holding gains (losses) on available-for-sale fixed maturities arising during the period	8,888	(17,191)	155,052	(80,725)
Adjustment for reclassification of net realized (gains) losses recognized in net income	(1,202)	(11)	578	(5)
Foreign currency translation adjustment	(2,730)	(741)	(7,927)	8,316
Other comprehensive income (loss), before tax	4,956	(17,943)	147,703	(72,414)
Income tax benefit (expense) related to components of other comprehensive income	11	18	(28)	82
Other comprehensive income (loss), after tax	4,967	(17,925)	147,675	(72,332)
Comprehensive income	45,763	10,590	265,187	21,228
Net loss attributable to noncontrolling interest	56	69	166	116
Other comprehensive (income) loss attributable to noncontrolling interest	(17)	(1)	(32)	46
Comprehensive loss attributable to noncontrolling interest	39	68	134	162
Comprehensive income attributable to Maiden shareholders	$ 45,802	$ 10,658	$ 265,321	$ 21,390

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Preference shares [Member]	Common shares [Member]	Additional paid-in capital [Member]	Accumulated other comprehensive income [Member]	Retained earnings [Member]	Treasury shares [Member]	Noncontrolling interest in subsidiaries [Member]
Beginning balance at Dec. 31, 2014		$ 315,000	$ 739	$ 578,445	$ 95,293	$ 255,084	$ (3,867)	$ 472
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Mandatory conversion of Preference Shares - Series B		0	0	0
Exercise of options and issuance of common shares			8	3,072
Share-based compensation expense				2,519
Change in net unrealized gains (losses) on investments, net					(80,648)
Foreign currency translation adjustments					8,362			(46)
Net income attributable to Maiden shareholders	$ 93,676					93,676
Dividends on preference shares						(18,253)
Dividends on common shares						(28,711)
Shares repurchased for treasury							(654)
Change in minority interest								1,710
Dividend paid to noncontrolling interest								(303)
Loss attributable to noncontrolling interest	116							(116)
Ending balance at Sep. 30, 2015	1,221,782	315,000	747	584,036	23,007	301,796	(4,521)	1,717
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Maiden shareholders	28,584
Loss attributable to noncontrolling interest	69
Ending balance at Sep. 30, 2015	1,221,782	315,000	747	584,036	23,007	301,796	(4,521)	1,717
Beginning balance at Dec. 31, 2015	1,349,099	480,000	747	579,178	(23,767)	316,184	(4,521)	1,278
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Mandatory conversion of Preference Shares - Series B		(165,000)	121	164,879
Exercise of options and issuance of common shares			4	662
Share-based compensation expense				2,625
Others				(141)
Change in net unrealized gains (losses) on investments, net					155,602
Foreign currency translation adjustments					(7,959)			32
Net income attributable to Maiden shareholders	117,678					117,678
Dividends on preference shares						(27,723)
Dividends on common shares						(32,799)
Shares repurchased for treasury							(470)
Change in minority interest								(54)
Dividend paid to noncontrolling interest								(31)
Loss attributable to noncontrolling interest	166							(166)
Ending balance at Sep. 30, 2016	1,556,359	315,000	872	747,203	123,876	373,340	(4,991)	1,059
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Maiden shareholders	40,852
Loss attributable to noncontrolling interest	56
Ending balance at Sep. 30, 2016	$ 1,556,359	$ 315,000	$ 872	$ 747,203	$ 123,876	$ 373,340	$ (4,991)	$ 1,059

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income	$ 117,512	$ 93,560
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	16,841	7,077
Net realized gains on investment	(4,511)	(2,327)
Net impairment losses recognized in earnings	0	1,060
Foreign exchange and other gains	(6,474)	(4,062)
Changes in assets – (increase) decrease:
Reinsurance balances receivable, net	(154,091)	14,093
Reinsurance recoverable on unpaid losses	(26,281)	(17,374)
Accrued investment income	(1,537)	(3,110)
Deferred commission and other acquisition expenses	(49,713)	(57,838)
Other assets	(32,027)	(64,512)
Changes in liabilities – increase (decrease):
Reserve for loss and loss adjustment expenses	250,937	291,123
Unearned premiums	204,752	238,726
Accrued expenses and other liabilities	10,749	29,596
Net cash provided by operating activities	326,157	526,012
Cash flows from investing activities:
Purchases of fixed maturities – available-for-sale	(732,001)	(1,095,162)
Purchases of other investments	(167)	(144)
Proceeds from sales of fixed maturities – available-for-sale	101,923	116,093
Proceeds from maturities and calls of fixed maturities	442,490	467,910
Proceeds from redemption of other investments	572	344
(Increase) decrease in restricted cash and cash equivalents, net	(103,685)	41,022
Other, net	(521)	(715)
Net cash used in investing activities	(291,389)	(470,652)
Cash flows from financing activities:
Senior notes issuance, net of issuance costs	106,424	0
Redemption of 2011 senior notes	(107,500)	0
Common share issuance	666	3,080
Repurchase of common shares for treasury	(470)	(654)
Dividends paid to common shareholders	(31,062)	(28,616)
Dividends paid to preference shareholders	(27,723)	(18,253)
Net cash used in financing activities	(59,665)	(44,443)
Effect of exchange rate changes on foreign currency cash	2,715	(1,485)
Net (decrease) increase in cash and cash equivalents	(22,182)	9,432
Cash and cash equivalents, beginning of period	89,641	108,119
Cash and cash equivalents, end of period	$ 67,459	$ 117,551

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of Maiden Holdings, Ltd. ("Maiden Holdings") and its subsidiaries (the "Company" or "Maiden") and have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP" or "U.S. GAAP") for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the U.S. Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All significant inter-company transactions and accounts have been eliminated. These interim unaudited Condensed Consolidated Financial Statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim period and all such adjustments are of a normal recurring nature. The results of operations for the interim period are not necessarily indicative, if annualized, of those to be expected for the full year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. These unaudited Condensed Consolidated Financial Statements, including these notes, should be read in conjunction with the Company's audited Consolidated Financial Statements, and related notes thereto, included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015. Certain reclassifications have been made for 2015 to conform to the 2016 presentation and have no impact on net income and total equity previously reported.

Significant Accounting Policies	9 Months Ended
Significant Accounting Policies	Sep. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies There have been no material changes to our significant accounting policies as described in our Annual Report on Form 10-K for the year ended December 31, 2015 with the exception of the following: Transition related to Accounting Standards Update ("ASU") No. 2015-03: Simplifying the Presentation of Debt Issuance Costs Effective January 1, 2016, the Company adopted the new guidance under ASU 2015-03 which requires that debt issuance costs be presented as a direct deduction from the related debt liability rather than as an asset in the balance sheet. The amortization of such costs is reported as an interest expense. The Company applied this new guidance retrospectively to all prior periods presented. The adoption of this new guidance reduced the December 31, 2015 audited consolidated total assets and total liabilities by $10,067, respectively, representing the amount of unamortized issuance costs related to our Senior Notes which was previously presented as part of other assets. There was no impact on the net income, related per-share amounts or the retained earnings for the periods affected by the adoption of this guidance. Recently Issued Accounting Standards Not Yet Adopted Disclosures about Short-Duration Contracts In May 2015, the Financial Accounting Standards Board ("FASB") issued ASU 2015-09 which is aimed at providing users of financial statements with more transparent information about an insurance entity’s initial claim estimates and subsequent adjustments to those estimates, methodologies and judgments in estimating claims, and the timing, frequency and severity of claims. The new disclosures are required for short-duration insurance contracts issued by insurers. For public business entities, this guidance will be effective for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted and should be applied retrospectively by providing comparative disclosures for each period presented. As this guidance is disclosure-related only, the adoption of this guidance will not have a material impact on the Company’s statements of operations and financial position. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued ASU 2016-01 that will change how entities measure certain equity investments and present changes in the fair value of financial liabilities measured under the fair value option that are attributable to their own credit. The new guidance also changes certain disclosure requirements and other aspects of current U.S. GAAP. It does not change the guidance for classifying and measuring investments in debt securities and loans. Under the new guidance, entities will have to measure many equity investments at fair value and recognize any changes in fair value in net income unless the investments qualify for the new practicability exception. This includes investments in partnerships, unincorporated joint ventures and limited liability companies that do not result in consolidation and are not accounted for under the equity method. Entities will no longer be able to recognize unrealized holding gains and losses on equity securities they classify today as available for sale ("AFS") in Accumulated Other Comprehensive Income ("AOCI"). They also will no longer be able to use the cost method of accounting for equity securities that do not have readily determinable fair values. The guidance is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. The Company is evaluating the impact of this new guidance on its consolidated results of operations and financial condition. 2. Significant Accounting Policies (continued) Accounting for Leases In February 2016, the FASB issued final Accounting Standards Codification ("ASC") 842 guidance that requires lessees to put most leases on their balance sheets but recognize expenses on their income statement in a manner similar to today's accounting. The guidance also eliminates today's real-estate-specific provisions for all entities. All entities classify leases to determine how to recognize lease-related revenue and expense. The U.S. GAAP standard is effective for public business entities and certain not-for-profit entities and employee benefit plans for annual periods beginning after December 15, 2018, and interim periods within those years. Early adoption is permitted for all entities. The Company is evaluating the impact of this new guidance on its consolidated results of operations and financial condition. Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU 2016-09 guidance that outlines changes for certain aspects of share-based payments to employees, such as accounting for forfeitures, which applies to the Company. Under the new guidance, the entities can elect to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The guidance is effective for public business entities for fiscal year beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted for all entities, in any annual or interim period for which financial statements haven't been issued or made available for issuance, but all of the guidance must be adopted in the same period. The Company is evaluating the impact of this new guidance on its consolidated results of operations and financial condition. Accounting for Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU 2016-13 guidance that changes the impairment model for most financial assets and certain other instruments that are not measured at fair value through net income. The standard will replace today's "incurred loss" approach with an "expected loss" model for instruments measured at amortized cost and require entities to record allowances for available-for-sale debt securities rather than reduce the carrying amount, as they do today under the other-than-temporary impairment model. It also simplifies the accounting model for purchased credit-impaired debt securities and loans. Entities will apply the standard's provisions as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The guidance is effective for public business entities for annual periods beginning after December 15, 2019, and interim periods therein. The Company is evaluating the impact of this new guidance on its consolidated results of operations and financial condition. Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued ASU 2016-15 guidance to clarify how entities should classify certain cash receipts and cash payments on the statement of cash flows. The new guidance amends ASC 230 Statement of Cash Flows, a principles based requiring judgment to determine the appropriate classification of cash flow as operating, investing or financing activities which created diversity in how certain cash receipts and cash payments were classified. The new guidance clarifies that if a receipt or payment has aspects of more than one class of cash flows and cannot be separated, the classification will depend on the predominant source or use. While the new guidance attempts to clarify how the predominance principle should be applied, judgment will still be required. The guidance is effective for public business entities for annual periods beginning after December 15, 2017 and interim periods therein. Early adoption is permitted. Entities will have to apply the guidance retrospectively, but if it is impracticable to do so for an issue, the amendments related to that issue would be applied prospectively. The Company is evaluating the impact of this new guidance on its consolidated results of operations and financial condition. Intra-Entity Assets Other Than Inventory In October 2016, the FASB issued ASU 2016-16 guidance that will require entities to recognize the income tax effects of intercompany sales and transfers of assets other than inventory as expense or benefit, in the period in which the transfer occurs as opposed to being deferred the income tax effects until the intercompany asset has been sold to an outside party, according to the current guidance in effect. The new guidance will require companies to defer the income tax effects only of intercompany transfers of inventory. The companies will be required to apply a modified retrospective approach with a cumulative catch-up adjustment to opening retained earnings in the period of adoption. In addition, companies will record deferred tax balances with an offset to opening retained earnings for amounts they haven't recognized under the new guidance. If a valuation allowance is necessary on the date of the adoption, that allowance will be recorded with an offset to opening retained earnings. The new guidance is effective for public business entities for annual periods beginning after December 15, 2017 and interim periods therein. Early adoption is permitted. The Company is evaluating the impact of this new guidance on its consolidated results of operations and financial condition.

Segment Reporting

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Segment Reporting

The Company currently has two reportable segments: Diversified Reinsurance and AmTrust Reinsurance. Our Diversified Reinsurance segment consists of a portfolio of predominantly property and casualty reinsurance business focusing on regional and specialty property and casualty insurance companies primarily located in the U.S. and Europe. Our AmTrust Reinsurance segment includes all business ceded to Maiden Reinsurance Ltd. ("Maiden Bermuda") by subsidiaries of AmTrust Financial Services, Inc. ("AmTrust"), primarily the AmTrust Quota Share and the European Hospital Liability Quota Share. Please refer to "Note 7. Related Party Transactions" for additional information. In addition to our reportable segments, the results of operations of the former NGHC Quota Share segment and the remnants of the U.S. excess and surplus ("E&S") business have been included in the "Other" category.

The Company evaluates segment performance based on segment profit separately from the results of our investment portfolio. General and administrative expenses are allocated to the segments on an actual basis except salaries and benefits where management’s judgment is applied. The Company does not allocate general corporate expenses to the segments. In determining total assets by reportable segment, the Company identifies those assets that are attributable to a particular segment such as reinsurance balances receivable, reinsurance recoverable on unpaid losses, deferred commission and other acquisition expenses, loans, goodwill and intangible assets, restricted cash and cash equivalents and investments and prepaid reinsurance premiums. All remaining assets are allocated to Corporate.

The following tables summarize our reporting segment's underwriting results and the reconciliation of our reportable segments and Other category's underwriting results to our consolidated net income:



For the Three Months Ended September 30, 2016	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	186,750		$	520,104		$	—		$	706,854
Net premiums written	$	179,092		$	511,561		$	—		$	690,653
Net premiums earned	$	175,141		$	523,137		$	—		$	698,278
Other insurance revenue	2,345			—			—			2,345
Net loss and loss adjustment expenses ("LAE")	(132,396		)	(334,310		)	(45		)	(466,751		)
Commission and other acquisition expenses	(39,868		)	(166,836		)	(2		)	(206,706		)
General and administrative expenses	(9,038		)	(759		)	—			(9,797		)
Underwriting income (loss)	$	(3,816	)	$	21,232		$	(47	)	$	17,369
Reconciliation to net income
Net investment income and realized gains on investment										37,566
Interest and amortization expenses										(6,856		)
Amortization of intangible assets										(616		)
Foreign exchange and other gains										687
Other general and administrative expenses										(7,155		)
Income tax expense										(199		)
Net income										$	40,796

Net loss and LAE ratio ⁽¹⁾	74.6		%	63.9		%				66.6		%
Commission and other acquisition expense ratio ⁽²⁾	22.5		%	31.9		%				29.5		%
General and administrative expense ratio⁽³⁾	5.1		%	0.1		%				2.4		%
Combined ratio⁽⁴⁾	102.2		%	95.9		%				98.5		%

3. Segment Reporting (continued)



For the Three Months Ended September 30, 2015	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	174,307		$	454,194		$	—		$	628,501
Net premiums written	$	163,710		$	435,443		$	—		$	599,153
Net premiums earned	$	193,207		$	465,313		$	—		$	658,520
Other insurance revenue	2,177			—			—			2,177
Net loss and LAE	(142,468		)	(297,780		)	(3,924		)	(444,172		)
Commission and other acquisition expenses	(51,714		)	(146,008		)	83			(197,639		)
General and administrative expenses	(8,218		)	(656		)	—			(8,874		)
Underwriting income (loss)	$	(7,016	)	$	20,869		$	(3,841	)	$	10,012
Reconciliation to net income
Net investment income and realized gains on investment										34,059
Net impairment losses recognized in earnings										(1,060		)
Interest and amortization expenses										(7,266		)
Amortization of intangible assets										(710		)
Foreign exchange and other gains										1,427
Other general and administrative expenses										(7,579		)
Income tax expense										(368		)
Net income										$	28,515

Net loss and LAE ratio ⁽¹⁾	72.9		%	63.9		%				67.2		%
Commission and other acquisition expense ratio ⁽²⁾	26.5		%	31.4		%				29.9		%
General and administrative expense ratio⁽³⁾	4.2		%	0.1		%				2.5		%
Combined ratio⁽⁴⁾	103.6		%	95.4		%				99.6		%

3. Segment Reporting (continued)



For the Nine Months Ended September 30, 2016	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	667,388		$	1,591,902		$	—		$	2,259,290
Net premiums written	$	626,522		$	1,507,389		$	—		$	2,133,911
Net premiums earned	$	538,152		$	1,413,699		$	—		$	1,951,851
Other insurance revenue	8,696			—			—			8,696
Net loss and LAE	(395,718		)	(898,703		)	(2,940		)	(1,297,361		)
Commission and other acquisition expenses	(139,895		)	(447,604		)	(2		)	(587,501		)
General and administrative expenses	(26,717		)	(2,308		)	—			(29,025		)
Underwriting income (loss)	$	(15,482	)	$	65,084		$	(2,942	)	$	46,660
Reconciliation to net income
Net investment income and realized gains on investment										111,802
Interest and amortization expenses										(21,314		)
Accelerated amortization of senior note issuance cost										(2,345		)
Amortization of intangible assets										(1,846		)
Foreign exchange and other gains										6,474
Other general and administrative expenses										(20,713		)
Income tax expense										(1,206		)
Net income										$	117,512

Net loss and LAE ratio ⁽¹⁾	72.4		%	63.5		%				66.2		%
Commission and other acquisition expense ratio ⁽²⁾	25.6		%	31.7		%				30.0		%
General and administrative expense ratio⁽³⁾	4.8		%	0.2		%				2.5		%
Combined ratio⁽⁴⁾	102.8		%	95.4		%				98.7		%

3. Segment Reporting (continued)



For the Nine Months Ended September 30, 2015	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	631,294		$	1,505,642		$	(1	)	$	2,136,935
Net premiums written	$	602,693		$	1,423,060		$	1		$	2,025,754
Net premiums earned	$	570,694		$	1,274,563		$	2		$	1,845,259
Other insurance revenue	9,408			—			—			9,408
Net loss and LAE	(417,846		)	(811,016		)	(7,643		)	(1,236,505		)
Commission and other acquisition expenses	(152,332		)	(399,291		)	(55		)	(551,678		)
General and administrative expenses	(25,976		)	(2,200		)	—			(28,176		)
Underwriting income (loss)	$	(16,052	)	$	62,056		$	(7,696	)	$	38,308
Reconciliation to net income
Net investment income and realized gains on investment										98,587
Net impairment losses recognized in earnings										(1,060		)
Interest and amortization expenses										(21,796		)
Amortization of intangible assets										(2,130		)
Foreign exchange and other gains										4,062
Other general and administrative expenses										(20,775		)
Income tax expense										(1,636		)
Net income										$	93,560

Net loss and LAE ratio ⁽¹⁾	72.0		%	63.6		%				66.7		%
Commission and other acquisition expense ratio ⁽²⁾	26.3		%	31.3		%				29.7		%
General and administrative expense ratio⁽³⁾	4.5		%	0.2		%				2.7		%
Combined ratio⁽⁴⁾	102.8		%	95.1		%				99.1		%



(1) Calculated by dividing net loss and LAE by net premiums earned and other insurance revenue.
(2) Calculated by dividing commission and other acquisition expenses by net premiums earned and other insurance revenue.
(3) Calculated by dividing general and administrative expenses by net premiums earned and other insurance revenue.
(4) Calculated by adding together the net loss and LAE ratio, commission and other acquisition expense ratio and general and administrative expense ratio.

The following tables summarize the total assets of our reportable segments including the reconciliation to our consolidated assets at September 30, 2016 and December 31, 2015:



September 30, 2016	Diversified Reinsurance		AmTrust Reinsurance		Total
Total assets - reportable segments	$	1,929,455	$	3,937,523	$	5,866,978
Corporate assets	—		—		600,984
Total Assets	$	1,929,455	$	3,937,523	$	6,467,962



December 31, 2015	Diversified Reinsurance		AmTrust Reinsurance		Total
Total assets - reportable segments	$	1,644,541	$	3,178,859	$	4,823,400
Corporate assets	—		—		880,178
Total Assets	$	1,644,541	$	3,178,859	$	5,703,578

3. Segment Reporting (continued)

The following tables set forth financial information relating to net premiums written and earned by major line of business and reportable segment for the three and nine months ended September 30, 2016 and 2015:



For the Three Months Ended September 30,	2016				2015
Net premiums written	Total		% of Total		Total		% of Total
Diversified Reinsurance
Property	$	30,606	4.4	%	$	29,574	4.9	%
Casualty	115,360		16.7	%	101,191		16.9	%
Accident and Health	14,845		2.2	%	12,918		2.2	%
International	18,281		2.6	%	20,027		3.3	%
Total Diversified Reinsurance	179,092		25.9	%	163,710		27.3	%
AmTrust Reinsurance
Small Commercial Business	314,677		45.6	%	231,416		38.6	%
Specialty Program	98,895		14.3	%	86,612		14.5	%
Specialty Risk and Extended Warranty	97,989		14.2	%	117,415		19.6	%
Total AmTrust Reinsurance	511,561		74.1	%	435,443		72.7	%
	$	690,653	100.0	%	$	599,153	100.0	%



For the Three Months Ended September 30,	2016				2015
Net premiums earned	Total		% of Total		Total		% of Total
Diversified Reinsurance
Property	$	29,921	4.3	%	$	39,593	6.0	%
Casualty	105,893		15.2	%	115,646		17.6	%
Accident and Health	18,436		2.6	%	14,093		2.1	%
International	20,891		3.0	%	23,875		3.6	%
Total Diversified Reinsurance	175,141		25.1	%	193,207		29.3	%
AmTrust Reinsurance
Small Commercial Business	320,596		45.9	%	257,296		39.1	%
Specialty Program	89,856		12.9	%	80,302		12.2	%
Specialty Risk and Extended Warranty	112,685		16.1	%	127,715		19.4	%
Total AmTrust Reinsurance	523,137		74.9	%	465,313		70.7	%
	$	698,278	100.0	%	$	658,520	100.0	%

3. Segment Reporting (continued)



For the Nine Months Ended September 30,	2016				2015
Net premiums written	Total		% of Total		Total		% of Total
Diversified Reinsurance
Property	$	123,991	5.8	%	$	128,482	6.3	%
Casualty	365,332		17.1	%	359,530		17.8	%
Accident and Health	68,140		3.2	%	53,483		2.7	%
International	69,059		3.2	%	61,198		3.0	%
Total Diversified Reinsurance	626,522		29.3	%	602,693		29.8	%
AmTrust Reinsurance
Small Commercial Business	983,601		46.1	%	857,617		42.3	%
Specialty Program	268,193		12.6	%	262,068		12.9	%
Specialty Risk and Extended Warranty	255,595		12.0	%	303,375		15.0	%
Total AmTrust Reinsurance	1,507,389		70.7	%	1,423,060		70.2	%
Other	—		—	%	1		—	%
	$	2,133,911	100.0	%	$	2,025,754	100.0	%



For the Nine Months Ended September 30,	2016				2015
Net premiums earned	Total		% of Total		Total		% of Total
Diversified Reinsurance
Property	$	103,023	5.3	%	$	112,878	6.1	%
Casualty	313,736		16.1	%	350,549		19.0	%
Accident and Health	55,788		2.8	%	41,361		2.2	%
International	65,605		3.4	%	65,906		3.6	%
Total Diversified Reinsurance	538,152		27.6	%	570,694		30.9	%
AmTrust Reinsurance
Small Commercial Business	864,699		44.3	%	734,731		39.8	%
Specialty Program	251,543		12.9	%	210,690		11.4	%
Specialty Risk and Extended Warranty	297,457		15.2	%	329,142		17.9	%
Total AmTrust Reinsurance	1,413,699		72.4	%	1,274,563		69.1	%
Other	—		—	%	2		—	%
	$	1,951,851	100.0	%	$	1,845,259	100.0	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

+ Details

Investments

9 Months Ended

Sep. 30, 2016

Schedule of Investments [Abstract]

Investments

(a) Fixed Maturities and Other Investments

The original or amortized cost, estimated fair value and gross unrealized gains and losses of investment in fixed maturities and other investments as of September 30, 2016 and December 31, 2015 are as follows:



September 30, 2016	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	5,183	$	317	$	—		$	5,500
U.S. agency bonds – mortgage-backed	1,572,387		34,128		(737		)	1,605,778
U.S. agency bonds – other	4,256		362		—			4,618
Non-U.S. government and supranational bonds	35,579		264		(3,181		)	32,662
Asset-backed securities	205,534		7,306		(49		)	212,791
Corporate bonds	1,775,739		75,202		(31,688		)	1,819,253
Municipal bonds	62,195		5,545		—			67,740
Total AFS fixed maturities	3,660,873		123,124		(35,655		)	3,748,342
Held-to-maturity ("HTM") fixed maturities:
Corporate bonds	759,973		38,941		(833		)	798,081
Total HTM fixed maturities	759,973		38,941		(833		)	798,081
Other investments	10,860		1,408		—			12,268
Total investments	$	4,431,706	$	163,473	$	(36,488	)	$	4,558,691



December 31, 2015	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	5,714	$	312	$	(16	)	$	6,010
U.S. agency bonds – mortgage-backed	1,471,782		15,399		(10,190		)	1,476,991
U.S. agency bonds – other	23,734		577		—			24,311
Non-U.S. government and supranational bonds	35,128		—		(4,584		)	30,544
Asset-backed securities	165,719		1,174		(1,089		)	165,804
Corporate bonds	1,798,610		38,070		(97,012		)	1,739,668
Municipal bonds	62,177		2,583		—			64,760
Total AFS fixed maturities	3,562,864		58,115		(112,891		)	3,508,088
HTM fixed maturities:
Corporate bonds	607,843		3,458		(12,326		)	598,975
Total HTM fixed maturities	607,843		3,458		(12,326		)	598,975
Other investments	10,816		1,091		(95		)	11,812
Total investments	$	4,181,523	$	62,664	$	(125,312	)	$	4,118,875

During the second quarter of 2016, we designated additional fixed maturities with a total fair value of $155,538 as HTM reflecting our intent to hold these securities to maturity. The net unrealized holding gain of $15,770 at the designation date was reported in the carrying value of the HTM securities and is amortized through Other Comprehensive Income over the remaining life of the securities using the effective interest method in a manner consistent with the amortization of any premium or discount.

The contractual maturities of our fixed maturities are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or repay obligations with or without prepayment penalties.

4. Investments (continued)



	AFS fixed maturities				HTM fixed maturities
September 30, 2016	Amortized cost		Fair value		Amortized cost		Fair value
Maturity
Due in one year or less	$	124,653	$	120,322	$	—	$	—
Due after one year through five years	483,935		486,485		223,261		226,753
Due after five years through ten years	1,260,222		1,308,224		531,624		566,140
Due after ten years	14,142		14,742		5,088		5,188
	1,882,952		1,929,773		759,973		798,081
U.S. agency bonds – mortgage-backed	1,572,387		1,605,778		—		—
Asset-backed securities	205,534		212,791		—		—
Total fixed maturities	$	3,660,873	$	3,748,342	$	759,973	$	798,081

The following tables summarize fixed maturities and other investments in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position:



	Less than 12 Months					12 Months or more					Total
September 30, 2016	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Fixed maturities
U.S. agency bonds – mortgage-backed	$	13,029	$	(27	)	$	54,566	$	(710	)	$	67,595	$	(737	)
Non–U.S. government and supranational bonds	1,081		(41		)	27,645		(3,140		)	28,726		(3,181		)
Asset-backed securities	21,746		(49		)	—		—			21,746		(49		)
Corporate bonds	171,844		(1,551		)	355,317		(30,970		)	527,161		(32,521		)
Total temporarily impaired fixed maturities	$	207,700	$	(1,668	)	$	437,528	$	(34,820	)	$	645,228	$	(36,488	)

As of September 30, 2016, there were approximately 132 securities in an unrealized loss position with a fair value of $645,228 and unrealized losses of $36,488. Of these securities, there are 94 securities that have been in an unrealized loss position for 12 months or greater with a fair value of $437,528 and unrealized losses of $34,820.



	Less than 12 Months					12 Months or more					Total
December 31, 2015	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Fixed maturities
U.S. treasury bonds	$	1,119	$	(16	)	$	—	$	—		$	1,119	$	(16	)
U.S. agency bonds – mortgage-backed	443,331		(4,113		)	170,053		(6,077		)	613,384		(10,190		)
Non–U.S. government and supranational bonds	6,958		(365		)	22,586		(4,219		)	29,544		(4,584		)
Asset-backed securities	89,838		(1,089		)	—		—			89,838		(1,089		)
Corporate bonds	752,911		(41,352		)	399,779		(67,986		)	1,152,690		(109,338		)
Total temporarily impaired fixed maturities	1,294,157		(46,935		)	592,418		(78,282		)	1,886,575		(125,217		)
Other investments	4,905		(95		)	—		—			4,905		(95		)
Total temporarily impaired fixed maturities and other investments	$	1,299,062	$	(47,030	)	$	592,418	$	(78,282	)	$	1,891,480	$	(125,312	)

4. Investments (continued)

As of December 31, 2015, there were approximately 270 securities in an unrealized loss position with a fair value of $1,891,480 and unrealized losses of $125,312. Of these securities, there are 93 securities that have been in an unrealized loss position for 12 months or greater with a fair value of $592,418 and unrealized losses of $78,282.

Other-Than-Temporary Impairments ("OTTI")

The Company performs quarterly reviews of its investment portfolio in order to determine whether declines in fair value below the amortized cost basis were considered other-than-temporary in accordance with applicable guidance. At September 30, 2016, we have determined that the unrealized losses on fixed maturities were primarily due to widening of credit spreads since their date of purchase. Because we do not intend to sell these securities and it is not more likely than not that we will be required to do so until a recovery of fair value to amortized cost, we currently believe it is probable that we will collect all amounts due according to their respective contractual terms. Therefore, we do not consider these fixed maturities to be other-than-temporarily impaired at September 30, 2016. For the three and nine months ended ended September 30, 2016, the Company recognized no OTTI. For the three and nine months ended September 30, 2015, there was a credit impairment in respect of one corporate bond which resulted in the recognition of OTTI of $1,060 for both periods.

The following summarizes the credit ratings of our fixed maturities:



Ratings* as of September 30, 2016	Amortized cost		Fair value		% of Total fair value
Fixed maturities
U.S. treasury bonds	$	5,183	$	5,500	0.1	%
U.S. agency bonds	1,576,643		1,610,396		35.4	%
AAA	164,038		173,127		3.8	%
AA+, AA, AA-	244,901		255,882		5.6	%
A+, A, A-	1,300,659		1,344,515		29.6	%
BBB+, BBB, BBB-	964,197		990,817		21.8	%
BB+ or lower	165,225		166,186		3.7	%
Total	$	4,420,846	$	4,546,423	100.0	%



Ratings* as of December 31, 2015	Amortized cost		Fair value		% of Total fair value
Fixed maturities
U.S. treasury bonds	$	5,714	$	6,010	0.1	%
U.S. agency bonds	1,495,516		1,501,302		36.6	%
AAA	170,190		170,391		4.1	%
AA+, AA, AA-	222,506		223,084		5.4	%
A+, A, A-	1,075,550		1,066,794		26.0	%
BBB+, BBB, BBB-	1,077,064		1,039,228		25.3	%
BB+ or lower	124,167		100,254		2.5	%
Total	$	4,170,707	$	4,107,063	100.0	%

*Based on Standard & Poor’s ("S&P"), or equivalent, ratings

4. Investments (continued)

(b) Other Investments

The following table shows our portfolio of other investments:



	September 30, 2016				December 31, 2015
	Fair value		% of Total fair value		Fair value		% of Total fair value
Investment in quoted equity	$	5,560	45.3	%	$	4,905	41.5	%
Investments in limited partnerships	5,708		46.5	%	5,907		50.0	%
Other	1,000		8.2	%	1,000		8.5	%
Total other investments	$	12,268	100.0	%	$	11,812	100.0	%

The Company has an unfunded commitment on its investments in limited partnerships of approximately $525 at September 30, 2016.

Realized gains or losses on the sale of investments are determined on the basis of the first in first out cost method. The following provides an analysis of net realized gains on investment included in the unaudited Condensed Consolidated Statements of Income:



For the Three Months Ended September 30, 2016	Gross gains		Gross losses		Net
AFS fixed maturities	$	1,813	$	—	$	1,813
Other investments	87		—		87
Net realized gains on investment	$	1,900	$	—	$	1,900



For the Three Months Ended September 30, 2015	Gross gains		Gross losses		Net
AFS fixed maturities	$	1,216	$	—	$	1,216
Net realized gains on investment	$	1,216	$	—	$	1,216



For the Nine Months Ended September 30, 2016	Gross gains		Gross losses			Net
AFS fixed maturities	$	4,953	$	(891	)	$	4,062
Other investments	449		—			449
Net realized gains on investment	$	5,402	$	(891	)	$	4,511



For the Nine Months Ended September 30, 2015	Gross gains		Gross losses		Net
AFS fixed maturities	$	2,264	$	—	$	2,264
Other investments	63		—		63
Net realized gains on investment	$	2,327	$	—	$	2,327

Proceeds from sales of AFS fixed maturities were $15,260 and $101,923 for the three and nine months ended September 30, 2016, respectively (September 30, 2015 - $29,595 and $116,093, respectively). Net unrealized gains were as follows:

4. Investments (continued)



	September 30, 2016			December 31, 2015
Fixed maturities	$	100,196		$	(55,024	)
Other investments	1,408			996
Total net unrealized gain (loss)	101,604			(54,028		)
Deferred income tax expense	(114		)	(84		)
Net unrealized gains, net of deferred income tax	$	101,490		$	(54,112	)
Change in net unrealized gains, net of deferred income tax	$	155,602

(d) Restricted Cash and Cash Equivalents and Investments

We are required to maintain assets to serve as collateral for our reinsurance liabilities under various reinsurance agreements. We also utilize trust accounts to collateralize business with our reinsurance counterparties. The assets in trust as collateral are primarily cash and highly rated fixed maturity securities. The fair value of our restricted assets was as follows:



	September 30, 2016		December 31, 2015
Restricted cash and cash equivalents – third party agreements	$	112,038	$	102,837
Restricted cash and cash equivalents – related party agreements	254,433		139,944
Restricted cash and cash equivalents – U.S. state regulatory authorities	92		78
Total restricted cash and cash equivalents	366,563		242,859
Restricted investments AFS – in trust for third party agreements at fair value (amortized cost: 2016 – $1,233,629; 2015 – $1,081,202)	1,256,528		1,067,602
Restricted investments AFS – in trust for related party agreements at fair value (amortized cost: 2016 – $1,969,268; 2015 – $1,781,178)	2,011,761		1,754,705
Restricted investments HTM – in trust for related party agreements at fair value (amortized cost: 2016 – $759,973; 2015 – $607,843)	798,081		598,975
Restricted investments AFS – in trust for U.S. state regulatory authorities (amortized cost: 2016 – $4,055; 2015 – $4,071)	4,312		4,303
Total restricted investments	4,070,682		3,425,585
Total restricted cash and cash equivalents and investments	$	4,437,245	$	3,668,444

Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

(a) Fair Values of Financial Instruments

FASB ASC Topic 820, "Fair Value Measurements and Disclosures" ("ASC 820") defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability (i.e. the "exit price") in an orderly transaction between open market participants at the measurement date. Additionally, ASC 820 establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy is broken down into three levels based on the reliability of inputs as follows:

•

Level 1 — Valuations based on unadjusted quoted market prices for identical assets or liabilities that we have the ability to access. Valuation adjustments and block discounts are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment. Examples of assets and liabilities utilizing Level 1 inputs include: exchange-traded equity securities and U.S. treasury bonds;

•

Level 2 — Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets, or valuations based on models where the significant inputs are observable (e.g. interest rates, yield curves, prepayment speeds, default rates, loss severities, etc.) or can be corroborated by observable market data. Examples of assets and liabilities utilizing Level 2 inputs include: U.S. government-sponsored agency securities; non-U.S. government and supranational obligations; commercial mortgage-backed securities ("CMBS"); collateralized loan obligations ("CLO"); corporate and municipal bonds; and

5. Fair Value of Financial Instruments (continued)


•	Level 3 — Valuations based on models where significant inputs are not observable. The unobservable inputs reflect our own assumptions about assumptions that market participants would use. Examples of assets and liabilities utilizing Level 3 inputs include: insurance and reinsurance derivative contracts; and hedge and credit funds with partial transparency.

The availability of observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors, including, for example, the type of financial instrument, whether the financial instrument is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires significantly more judgment. Accordingly, the degree of judgment exercised by management in determining fair value is greatest for instruments categorized in Level 3. We use prices and inputs that are current at the measurement date. In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition could cause an instrument to be reclassified between levels.

For investments that have quoted market prices in active markets, the Company uses the quoted market prices as fair value and includes these prices in the amounts disclosed in the Level 1 hierarchy. The Company receives the quoted market prices from a third party nationally recognized pricing service provider ("the Pricing Service"). When quoted market prices are unavailable, the Company utilizes the Pricing Service to determine an estimate of fair value. The fair value estimates are included in the Level 2 hierarchy. The Company will challenge any prices for its investments which are considered not to be representation of fair value. If quoted market prices and an estimate from the Pricing Service are unavailable, the Company produces an estimate of fair value based on dealer quotations for recent activity in positions with the same or similar characteristics to that being valued or through consensus pricing of a pricing service. The Company determines whether the fair value estimate is in the Level 2 or Level 3 hierarchy depending on the level of observable inputs available when estimating the fair value. The Company bases its estimates of fair values for assets on the bid price as it represents what a third party market participant would be willing to pay in an orderly transaction.

ASC 825, “Disclosure About Fair Value of Financial Instruments", requires all entities to disclose the fair value of their financial instruments, both assets and liabilities recognized and not recognized in the balance sheet, for which it is practicable to estimate fair value.

The following describes the valuation techniques used by the Company to determine the fair value of financial instruments held at September 30, 2016.

U.S. government and U.S. agencies — Bonds issued by the U.S. Treasury, the Federal Home Loan Bank, the Federal Home Loan Mortgage Corporation, Government National Mortgage Association and the Federal National Mortgage Association. The fair values of U.S. treasury bonds are based on quoted market prices in active markets, and are included in the Level 1 fair value hierarchy. We believe the market for U.S. treasury bonds is an actively traded market given the high level of daily trading volume. The fair values of U.S. agency bonds are determined using the spread above the risk-free yield curve. As the yields for the risk-free yield curve and the spreads for these securities are observable market inputs, the fair values of U.S. agency bonds are included in the Level 2 fair value hierarchy.

Non-U.S. government and supranational bonds — These securities are generally priced by independent pricing services. The Pricing Service may use current market trades for securities with similar quality, maturity and coupon. If no such trades are available, the Pricing Service typically uses analytical models which may incorporate spreads, interest rate data and market/sector news. As the significant inputs used to price non-U.S. government and supranational bonds are observable market inputs, the fair values of non-U.S. government and supranational bonds are included in the Level 2 fair value hierarchy.

Asset-backed securities — These securities comprise CMBS and CLO originated by a variety of financial institutions that on acquisition are rated BBB-/Baa3 or higher. These securities are priced by independent pricing services and brokers. The pricing provider applies dealer quotes and other available trade information, prepayment speeds, yield curves and credit spreads to the valuation. As the significant inputs used to price the CMBS and CLO are observable market inputs, the fair value of the CMBS and CLO is included in the Level 2 fair value hierarchy.

Corporate bonds — Bonds issued by corporations that on acquisition are rated BBB-/Baa3 or higher. These securities are generally priced by independent pricing services. The spreads are sourced from broker/dealers, trade prices and the new issue market. Where pricing is unavailable from pricing services, we obtain non-binding quotes from broker-dealers. As the significant inputs used to price corporate bonds are observable market inputs, the fair values of corporate bonds are included in the Level 2 fair value hierarchy.

Municipal bonds — Bonds issued by U.S. state and municipality entities or agencies. The fair values of municipal bonds are generally priced by independent pricing services. The pricing services typically use spreads obtained from broker-dealers, trade prices and the new issue market. As the significant inputs used to price the municipal bonds are observable market inputs, municipal bonds are classified within Level 2.

5. Fair Value of Financial Instruments (continued)

Other investments — Includes both quoted and unquoted investments. The fair value of our quoted equity investment is obtained from the Pricing Service and is classified within Level 1. Unquoted other investments comprise investments in limited partnerships and an investment in preference shares of a start-up insurance producer. The fair values of the limited partnerships are determined by the fund manager based on recent filings, operating results, balance sheet stability, growth and other business and market sector fundamentals, and as such, the fair values are included in the Level 3 fair value hierarchy. The fair value of the investment in preference shares of a start-up insurance producer was determined using recent private market transactions and as such, the fair value is included in the Level 3 fair value hierarchy.

Reinsurance balances receivable — The carrying values reported in the accompanying condensed consolidated balance sheets for these financial instruments approximate their fair value due to short term nature of the assets.

Loan to related party — The carrying value reported in the accompanying condensed consolidated balance sheets for this financial instrument approximates its fair value.

Senior notes — The amount reported in the accompanying condensed consolidated balance sheets for these financial instruments represents the carrying value of the notes. The fair values are based on indicative market pricing obtained from a third-party service provider and as such, are included in the Level 2 hierarchy.

(b) Fair Value Hierarchy

The Company’s estimates of fair value for financial assets and financial liabilities are based on the framework established in ASC 820. The framework is based on the inputs used in valuation and gives the highest priority to quoted prices in active markets and requires that observable inputs be used in the valuations when available. The disclosure of fair value estimates in the ASC 820 hierarchy is based on whether the significant inputs into the valuation are observable. In determining the level of the hierarchy in which the estimate is disclosed, the highest priority is given to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs that reflect the Company’s significant market assumptions. We classified our financial instruments measured at fair value on a recurring basis in the following valuation hierarchy:



September 30, 2016	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	5,500		$	—		$	—		$	5,500
U.S. agency bonds – mortgage-backed	—			1,605,778			—			1,605,778
U.S. agency bonds – other	—			4,618			—			4,618
Non-U.S. government and supranational bonds	—			32,662			—			32,662
Asset-backed securities	—			212,791			—			212,791
Corporate bonds	—			1,819,253			—			1,819,253
Municipal bonds	—			67,740			—			67,740
Other investments	5,560			—			6,708			12,268
Total	$	11,060		$	3,742,842		$	6,708		$	3,760,610
As a percentage of total assets	0.2		%	57.9		%	0.1		%	58.2		%

5. Fair Value of Financial Instruments (continued)



December 31, 2015	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	6,010		$	—		$	—		$	6,010
U.S. agency bonds – mortgage-backed	—			1,476,991			—			1,476,991
U.S. agency bonds – other	—			24,311			—			24,311
Non-U.S. government and supranational bonds	—			30,544			—			30,544
Asset-backed securities	—			165,804			—			165,804
Corporate bonds	—			1,739,668			—			1,739,668
Municipal bonds	—			64,760			—			64,760
Other investments	4,905			—			6,907			11,812
Total	$	10,915		$	3,502,078		$	6,907		$	3,519,900
As a percentage of total assets	0.2		%	61.4		%	0.1		%	61.7		%

The Company utilized a Pricing Service to estimate fair value measurements for approximately 99.9% of its fixed maturities at September 30, 2016 and December 31, 2015, respectively. The Pricing Service utilizes market quotations for fixed maturity securities that have quoted market prices in active markets. Since fixed maturities other than U.S. treasury bonds generally do not trade on a daily basis, the Pricing Service prepares estimates of fair value measurements using relevant market data, benchmark curves, sector groupings and matrix pricing and these have been classified as Level 2. At September 30, 2016 and December 31, 2015, 0.1% of the fixed maturities are valued using the market approach. At each date, a total of two securities, or approximately $5,451 and $4,943, respectively, of Level 2 fixed maturities, were priced using a quotation from a broker and/or custodian as opposed to the Pricing Service due to lack of information available. At September 30, 2016 and December 31, 2015, we have not adjusted any pricing provided to us based on the review performed by our investment managers. There have not been any transfers between Level 1 and Level 2 during the periods represented by these unaudited Condensed Consolidated Financial Statements.

The Company has determined that its investments in Level 3 securities are not material to its financial position or results of operations. The following table presents changes in Level 3 for our financial instruments measured at fair value on a recurring basis:



	For the Three Months Ended
Other investments:	September 30, 2016			September 30, 2015
Balance at beginning of period	$	6,562		$	6,906
Total realized gains – included in net realized gains on investment	87			—
Change in total unrealized gains – included in other comprehensive income (loss)	29			161
Purchases	75			—
Redemptions	(45		)	(270		)
Balance at end of period	$	6,708		$	6,797

5. Fair Value of Financial Instruments (continued)



	For the Nine Months Ended
Other investments:	September 30, 2016			September 30, 2015
Balance at beginning of period	$	6,907		$	6,581
Total realized gains – included in net realized gains on investment	449			63
Change in total unrealized gains – included in other comprehensive income (loss)	(243		)	353
Purchases	167			144
Redemptions	(572		)	(344		)
Balance at end of period	$	6,708		$	6,797

(d) Financial Instruments not measured at Fair Value

The following table presents the fair value and carrying value of the financial instruments not measured at fair value:



	September 30, 2016				December 31, 2015
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets
HTM - corporate bonds	$	759,973	$	798,081	$	607,843	$	598,975
Total financial assets	$	759,973	$	798,081	$	607,843	$	598,975
Financial Liabilities
MHNA - 8.25%	$	—	$	—	$	107,500	$	110,424
MHNB - 8.00%	100,000		102,608		100,000		105,328
MHNC - 7.75%	152,500		164,395		152,500		165,456
MHLA - 6.625%	110,000		114,752		—		—
Total financial liabilities	$	362,500	$	381,755	$	360,000	$	381,208

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Long-Term Debt

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Long-term Debt

Long-Term Debt

Senior Notes

Maiden Holdings and its wholly owned subsidiary, Maiden Holdings North America, Ltd. ("Maiden NA"), completed public debt offerings on four separate occasions, with the issuance of Senior Notes in 2011, 2012, 2013 and 2016, respectively, (the "Senior Notes"). Each of the issuances made by Maiden NA, namely the 2011, 2012 and 2013 Senior Notes, is fully and unconditionally guaranteed by the Company. The Senior Notes are an unsecured and unsubordinated obligation of the Company.

On June 14, 2016, Maiden Holdings issued $110,000 6.625% Senior Notes for cash.

On June 15, 2016, Maiden NA fully redeemed all of its 2011 Senior Notes using the proceeds from the 2016 Senior Notes issuance. The 2011 Senior Notes were redeemed at a redemption price equal to 100% of the principal amount of $107,500 plus accrued and unpaid interest on the principal amount being redeemed up to, but not including, the redemption date. As a result, the Company accelerated the amortization of the remaining debt issuance cost of $2,345.

The following table details the Company's outstanding Senior Notes issuances as of September 30, 2016:

6. Long-Term Debt (continued)



	2012 Senior Notes			2013 Senior Notes			2016 Senior Notes
Principal	$	100,000		$	152,500		$	110,000
Debt Issuance Costs	3,406			5,054			3,715
Net Proceeds	$	96,594		$	147,446		$	106,285

Unamortized debt issuance costs	$	2,894		$	4,574		$	3,704

Other details:
Maturity date	March 27, 2042			December 1, 2043			June 14, 2046
Earliest redeemable date (for cash)	March 27, 2017			December 1, 2018			June 14, 2021
Coupon rate	8.00		%	7.75		%	6.625		%
Effective interest rate	8.31		%	8.04		%	7.07		%

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Founding Shareholders of the Company are Michael Karfunkel, George Karfunkel and Barry Zyskind. Michael Karfunkel passed away on April 27, 2016. As of September 30, 2016, Leah Karfunkel (wife of Michael Karfunkel), George Karfunkel and Barry Zyskind own or control approximately 17.4% of the outstanding shares of the Company. Leah Karfunkel and George Karfunkel are directors of AmTrust, and Barry Zyskind is the president, CEO and chairman of AmTrust, and combined they own or control approximately 49.3% of the outstanding shares of AmTrust. AmTrust owns 11.6% of the issued and outstanding shares of National General Holdings Corporation ("NGHC") common stock, and the Michael Karfunkel 2005 Family Trust (which is controlled by Leah Karfunkel) owns 43.0% of the common stock of NGHC. Barry Zyskind is the non-executive chairman of NGHC. AmTrust The following describes transactions between the Company and AmTrust. AmTrust Quota Share Reinsurance Agreement Effective July 1, 2007, the Company and AmTrust entered into a master agreement, as amended (the "Master Agreement"), by which Maiden Bermuda, a wholly owned subsidiary of the Company, and AmTrust's Bermuda reinsurance subsidiary, AmTrust International Insurance, Ltd. ("AII"), to enter into a quota share reinsurance agreement (the "Reinsurance Agreement"). Under the Reinsurance Agreement, AII retrocedes to Maiden Bermuda an amount equal to 40% of the premium written by subsidiaries of AmTrust, net of the cost of unaffiliated inuring reinsurance (and in the case of AmTrust's U.K. insurance subsidiary, AmTrust Europe Limited ("AEL"), net of commissions) and 40% of losses. The Master Agreement further provided that AII receives a ceding commission of 31% of ceded written premiums. On June 11, 2008, Maiden Bermuda and AII amended the Reinsurance Agreement to add Retail Commercial Package Business to the Covered Business. AII receives a ceding commission of 34.375% on Retail Commercial Package Business. On July 1, 2016 the agreement was renewed through June 30, 2019. The agreement automatically renews for successive three-year periods thereafter unless AII or Maiden Bermuda elects to so terminate the Reinsurance Agreement by giving written notice to the other party not less than nine months prior to the expiration of any successive three-year period. Either party is entitled to terminate on thirty days' notice or less upon the occurrence of certain early termination events, which include a default in payment, insolvency, change in control of AII or Maiden Bermuda, run-off, or a reduction of 50% or more of the shareholders' equity of Maiden Bermuda or the combined shareholders' equity of AII and the AmTrust subsidiaries. In 2015, Maiden Bermuda and AII entered into an agreement to commute certain liabilities as of December 31, 2015. The commuted reserve value of $107,000, represents full and final settlement of all liabilities related to this business and as a result of this agreement, this business is no longer being ceded to Maiden. Additionally, for the Specialty Program portion of Covered Business only, AII will be responsible for ultimate net loss otherwise recoverable from Maiden Bermuda to the extent that the loss ratio to Maiden Bermuda, which shall be determined on an inception to date basis from July 1, 2007 through the date of calculation, is between 81.5% and 95%. Above and below the defined corridor, Maiden Bermuda will continue to reinsure losses at its proportional 40% share per the Reinsurance Agreement. 7. Related Party Transactions (continued) AmTrust European Hospital Liability Quota Share Agreement ("European Hospital Liability Quota Share") Effective April 1, 2011, Maiden Bermuda, entered into a quota share reinsurance contract with AEL and AmTrust International Underwriters Limited ("AIUL"), both wholly owned subsidiaries of AmTrust. Pursuant to the terms of the contract, Maiden Bermuda assumed 40% of the premiums and losses related to policies classified as European Hospital Liability, including associated liability coverages and policies covering physician defense costs, written or renewed on or after April 1, 2011. The contract also covers policies written or renewed on or before March 31, 2011, but only with respect to losses that occur, accrue or arise on or after April 1, 2011. The maximum limit of liability attaching shall be €5,000 (€10,000 effective January 1, 2012) or currency equivalent (on a 100% basis) per original claim for any one original policy. Maiden Bermuda will pay a ceding commission of 5%. The agreement has been renewed through March 31, 2017 and can be terminated at any April 1 by either party on four months notice. Effective July 1, 2016, the contract was amended such that Maiden Bermuda assumes from AEL 32.5% of the premiums and losses of all policies written or renewed on or after July 1, 2016 until June 30, 2017 and 20% of all policies written or renewed on or after July 1, 2017. The Company recorded approximately $163,336 and $447,767 of ceding commission expense for the three and nine months ended September 30, 2016, respectively (September 30, 2015 - $141,348 and $389,501, respectively) as a result of both these quota share arrangements with AmTrust. Other Reinsurance Agreements Effective September 1, 2010, the Company, through a subsidiary, entered into a quota share reinsurance agreement with Technology Insurance Company, Inc. ("Technology"), a subsidiary of AmTrust. Under the agreement, we ceded (a) 90% of its gross liability written under the Open Lending Program ("OPL") and (b) 100% of its surplus lines general liability business under the Naxos Avondale Specialty Casualty Program ("NAXS"). Our involvement is limited to certain states where Technology was not fully licensed. The agreement also provides that we receive a ceding commission of 5% of ceded written premiums. The OPL program was terminated on December 31, 2011, on a run-off basis, and the NAXS program was terminated on October 31, 2012. We recorded $0 and $12 of ceded premiums and $0 and $1 ceding commission income for the three and nine months ended September 30, 2016, (September 30, 2015 - $14 and $59 of premiums ceded and $0 and $3 of ceding commission income, respectively). Effective April 1, 2012, the Company, through a subsidiary, entered into a reinsurance agreement with AmTrust's wholly owned subsidiary, AmTrust North America, Inc. ("AmTrust NA"). We indemnify AmTrust NA, on an excess of loss basis, as a result of losses occurring on AmTrust NA's new and renewal policies relating to the lines of business classified as Automobile Liability by AmTrust NA in its annual statement utilizing the specific underwriting guidelines defined in the reinsurance agreement. AmTrust NA shall retain the first $1,000 of loss, per any one policy or per any one loss occurrence. This agreement has a term of one year and automatically renews annually unless terminated pursuant to the terms of the agreement. Under this agreement, for the three and nine months ended September 30, 2016, the Company recorded approximately $305 and $745 net premiums earned and $87 and $187 of commission expense, respectively, (September 30, 2015 - $154 and $483 net premiums earned and $35 and $117 commission expense, respectively). Collateral provided to AmTrust a) AmTrust Quota Share Reinsurance Agreement In order to provide AmTrust's U.S. insurance subsidiaries with credit for reinsurance on their statutory financial statements, AII, as the direct reinsurer of the AmTrust's insurance subsidiaries, has established trust accounts ("Trust Accounts") for their benefit. Maiden Bermuda has agreed to provide appropriate collateral to secure its proportional share under the Reinsurance Agreement of AII's obligations to the AmTrust subsidiaries to whom AII is required to provide collateral. This collateral may be in the form of (a) assets loaned by Maiden Bermuda to AII for deposit into the Trust Accounts, pursuant to a loan agreement between those parties, (b) assets transferred by Maiden Bermuda for deposit into the Trust Accounts, (c) a letter of credit obtained by Maiden Bermuda and delivered to an AmTrust subsidiary on AII's behalf, or (d) premiums withheld by an AmTrust subsidiary at Maiden Bermuda's request in lieu of remitting such premiums to AII. Maiden Bermuda may provide any or a combination of these forms of collateral, provided that the aggregate value thereof equals Maiden Bermuda's proportionate share of its obligations under the Reinsurance Agreement with AII. 7. Related Party Transactions (continued) Maiden Bermuda satisfied its collateral requirements under the Reinsurance Agreement with AII as follows: •by lending funds in the amount of $167,975 at September 30, 2016 and December 31, 2015 pursuant to a loan agreement entered into between those parties. This loan was assigned to AmTrust effective December 31, 2014 and is carried at cost. Interest is payable at a rate equivalent to the one-month LIBOR plus 90 basis points per annum; and •effective December 1, 2008, the Company entered into a Reinsurer Trust Assets Collateral agreement to provide to AII sufficient collateral to secure its proportional share of AII's obligations to the U.S. AmTrust subsidiaries. The amount of the collateral, at September 30, 2016, was approximately $2,805,607 (December 31, 2015 - $2,256,383) and the accrued interest was $18,400 (December 31, 2015 - $15,448). Please refer to "Note 4. (d) Investments" for additional information. b) European Hospital Liability Quota Share AEL requested that Maiden Bermuda provide collateral to secure its proportional share under the European Hospital Liability Quota Share agreement. Please refer to "Note 4. (d) Investments" for additional information. Brokerage Agreement Effective July 1, 2007, the Company entered into a reinsurance brokerage agreement with AII Reinsurance Broker Ltd. ("AIIB"), a wholly owned subsidiary of AmTrust. Pursuant to the brokerage agreement, AIIB provides brokerage services relating to the Reinsurance Agreement and, the European Hospital Liability Quota Share agreement for a fee equal to 1.25% of the premium assumed. The brokerage fee is payable in consideration of AIIB's brokerage services. AIIB is not the Company's exclusive broker. The agreement may be terminated upon 30 days written notice by either party. Maiden Bermuda recorded approximately $6,652 and $18,330 of reinsurance brokerage expense for the three and nine months ended September 30, 2016, respectively (September 30, 2015 - $5,854 and $16,161, respectively) and deferred reinsurance brokerage of $15,051 at September 30, 2016 (December 31, 2015 - $13,464) as a result of this agreement. Asset Management Agreement Effective July 1, 2007, the Company entered into an asset management agreement with AII Insurance Management Limited ("AIIM"), a wholly owned subsidiary of AmTrust, pursuant to which AIIM has agreed to provide investment management services to the Company. AIIM provides investment management services for a quarterly fee of 0.0375% if the average value of the account for the previous calendar quarter is greater than $1 billion. The agreement may be terminated upon 30 days written notice by either party. The Company recorded approximately $1,780 and $5,122 of investment management fees for the three and nine months ended September 30, 2016, respectively (September 30, 2015 - $1,518 and $4,455, respectively) as a result of this agreement. Other The Company entered into time sharing agreements for the lease of aircraft owned by AmTrust Underwriters, Inc. ("AUI"), a wholly owned subsidiary of AmTrust, and by AmTrust on March 1, 2011 and November 5, 2014, respectively. The agreements automatically renew for successive one-year terms unless terminated in accordance with the provisions of the agreements. Pursuant to the agreements, the Company will reimburse AUI and AmTrust for actual expenses incurred as allowed by Federal Aviation Regulations. For the three and nine months ended September 30, 2016, the Company recorded an expense of $22 and $61, respectively (September 30, 2015 - $20 and $70, respectively) for the use of the aircraft. NGHC The following describes transactions between the Company and NGHC and its subsidiaries: NGHC Quota Share Reinsurance Agreement ("NGHC Quota Share") Maiden Bermuda, effective March 1, 2010, had a 50% participation in the NGHC Quota Share, by which it received 25% of net premiums of the personal lines automobile business and assumed 25% of the related net losses. On August 1, 2013, the Company and NGHC mutually agreed the termination of the NGHC Quota Share on a run-off basis effective on that date. Consequently, Maiden Bermuda recorded no ceding commission expense for the three and nine months ended September 30, 2016 and 2015, respectively, as a result of this transaction. Other Effective April 1, 2015, Maiden US renewed the Medical Excess of Loss reinsurance agreement with wholly owned subsidiaries of NGHC, Distributors Insurance Company PCC, AIBD Insurance Company IC and Professional Services Captive Corporation IC. Pursuant to this agreement, Maiden US indemnified on an excess of loss basis, for the amounts of net loss, paid from April 1, 7. Related Party Transactions (continued) 2015 through March 31, 2016. Maiden US was liable for 100% of the net loss for each covered person per agreement year in excess of the $1,175 retention (each covered person per agreement year). Maiden US' liability did not exceed $8,825 per covered person per agreement year. In addition, Maiden US continued to indemnify extra contractual obligations with a maximum liability of $2,000. This agreement terminated on March 31, 2016 and Maiden US was relieved of all liability hereunder for losses incurred or paid subsequent to such termination date. Under these agreements, Maiden US recorded approximately $0 and $157 of premiums earned for the three and nine months ended September 30, 2016, respectively (September 30, 2015 - $218 and $328, respectively). Effective May 1, 2015, Maiden US entered into an agreement with several NGHC subsidiaries for medical excess of loss programs. This program covers employer aggregate and traditional specific medical stop loss policies underwritten by the Managing General Agent that they support. The NGHC companies covered under the treaty are Integon Indemnity Insurance Company, Integon National Insurance Company and National Health Insurance Company. This agreement was renewed for another year and now terminates on April 30, 2017 with either party having the right to cancel by giving 60 days notice to the other party in the event that other party fails to maintain certain financial and other criteria. Upon expiration of this agreement, coverage remains in full force and effect on all assumed liability for policies in force on the date of expiration until expiration, cancellation or next anniversary date of such subject policies. The treaty limit of the aggregate medical stop loss is subject to a limit of $4,000 in excess of $1,000 any one insured person. The treaty limit on the traditional specific medical stop loss Layer 1 is subject to a limit of $1,000 in excess of $1,000 any one insured person; Layer 2 is subject to a limit of $3,000 in excess of $2,000 any one insured person and Layer 3 is subject to a limit of $5,000 in excess of $5,000. In addition to these limits, the Company shall cover extra contractual obligations arising under this agreement with a maximum liability of $2,000. Under these agreements, Maiden US recorded approximately $136 and $295 of premiums earned for the three and nine months ended September 30, 2016, respectively (September 30, 2015 - $19 and $22, respectively).

Earnings per Common Share

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Earnings per Common Share

The following is a summary of the elements used in calculating basic and diluted earnings per common share:



For the Three Months Ended September 30,	2016			2015
Numerator:
Net income attributable to Maiden shareholders	$	40,852		$	28,584
Dividends on preference shares - Series A	(3,094		)	(3,094		)
Dividends on convertible preference shares - Series B	(2,991		)	(2,991		)
Dividends on preference shares - Series C	(2,938		)	—
Amount allocated to participating common shareholders⁽¹⁾	(19		)	(17		)
Numerator for basic EPS - net income allocated to Maiden common shareholders	$	31,810		$	22,482
Potentially dilutive securities
Dividends on convertible preference shares - Series B	2,991			2,991
Numerator for diluted EPS - net income allocated to Maiden common shareholders after assumed conversion	$	34,801		$	25,473
Denominator:
Weighted average number of common shares outstanding – basic	75,993,451			73,638,980
Potentially dilutive securities:
Share options and restricted share units	1,100,206			1,294,767
Convertible preference shares⁽²⁾	9,057,294			10,809,258
Adjusted weighted average number of common shares and assumed conversions – diluted	86,150,951			85,743,005
Basic earnings per share attributable to Maiden common shareholders:	$	0.42		$	0.31
Diluted earnings per share attributable to Maiden common shareholders:	$	0.40		$	0.30

8. Earnings per Common Share (continued)



For the Nine Months Ended September 30,	2016			2015
Numerator:
Net income attributable to Maiden shareholders	$	117,678		$	93,676
Dividends on preference shares - Series A	(9,282		)	(9,282		)
Dividends on convertible preference shares - Series B	(8,971		)	(8,971		)
Dividends on preference shares - Series C	(9,470		)	—
Amount allocated to participating common shareholders⁽¹⁾	(55		)	(59		)
Numerator for basic EPS - net income allocated to Maiden common shareholders	$	89,900		$	75,364
Potentially dilutive securities
Dividends on convertible preference shares- Series B	8,971			8,971
Numerator for diluted EPS - net income allocated to Maiden common shareholders after assumed conversion	$	98,871		$	84,335
Denominator:
Weighted average number of common shares outstanding – basic	74,625,839			73,403,998
Potentially dilutive securities:
Share options and restricted share units	1,085,740			1,272,746
Convertible preference shares⁽²⁾	10,306,440			10,809,258
Adjusted weighted average number of common shares and assumed conversions – diluted	86,018,019			85,486,002
Basic earnings per share attributable to Maiden common shareholders:	$	1.20		$	1.03
Diluted earnings per share attributable to Maiden common shareholders:	$	1.15		$	0.99

(1) This represents earnings allocated to the holders of non-vested restricted shares issued to the Company's employees under the 2007 Share Incentive Plan.

(2) Please refer to "Notes to Consolidated Financial Statements" included under Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2015 for the terms and conditions of each of these anti-dilutive instruments. The mandatory convertible preference shares - series B were included in the calculation of diluted earnings per share only for the period that they were outstanding. On September 15, 2016, the Company's $165,000 mandatory convertible preference shares - Series B were automatically converted into 12,069,090 of the Company's common shares at a conversion rate of 3.6573 per preference share.

Shareholders' Equity

9 Months Ended

Sep. 30, 2016

Stockholders' Equity Note [Abstract]

Shareholders' Equity

At September 30, 2016, the aggregate authorized share capital of the Company is 150,000,000 shares from which the Company has issued 87,178,902 common shares, of which 86,128,999 are outstanding, and issued 12,600,000 preference shares. The remaining 50,221,098 are undesignated at September 30, 2016. For further discussion on the components of Shareholders' Equity, please refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2015.

Mandatory Convertible Preference Shares - Series B

On September 15, 2016, each of the then outstanding Preference Share - Series B were automatically converted into 12,069,090 of the Company's common shares at a conversion rate of 3.6573 per preference share.

Treasury Shares

On January 1, 2016, February 15, 2016, February 17, 2016 and March 10, 2016, the Company repurchased 3,351 shares at a price per share of $14.91, 10,255 shares at a price per share of $13.16, 1,183 shares at a price per share of $13.36 and 20,469 shares

at a price per share of $13.16, respectively, from employees, which represent withholdings in respect of tax obligations on the vesting of restricted shares and performance based shares.

9. Shareholders' Equity (continued)

Accumulated Other Comprehensive Income

The following tables set forth financial information regarding the changes in the balances of each component of AOCI:



For the Three Months Ended September 30, 2016	Change in net unrealized gains on investments			Foreign currency translation adjustments			Total
Beginning balance	$	93,793		$	25,034		$	118,827
Other comprehensive income before reclassifications	8,899			(2,730		)	6,169
Amounts reclassified from AOCI to net income, net of tax	(1,202		)	—			(1,202		)
Net current period other comprehensive income	7,697			(2,730		)	4,967
Ending balance	101,490			22,304			123,794
Less: AOCI attributable to noncontrolling interest	—			(82		)	(82		)
Ending balance, Maiden shareholders	$	101,490		$	22,386		$	123,876



For the Three Months Ended September 30, 2015	Change in net unrealized gains on investments			Foreign currency translation adjustments			Total
Beginning balance	$	15,115		$	25,722		$	40,837
Other comprehensive loss before reclassifications	(17,173		)	(741		)	(17,914		)
Amounts reclassified from AOCI to net income, net of tax	(11		)	—			(11		)
Net current period other comprehensive loss	(17,184		)	(741		)	(17,925		)
Ending balance	(2,069		)	24,981			22,912
Less: AOCI attributable to noncontrolling interest	—			(95		)	(95		)
Ending balance, Maiden shareholders	$	(2,069	)	$	25,076		$	23,007



For the Nine Months Ended September 30, 2016	Change in net unrealized gains on investments			Foreign currency translation adjustments			Total
Beginning balance	$	(54,112	)	$	30,231		$	(23,881	)
Other comprehensive income before reclassifications	155,024			(7,927		)	147,097
Amounts reclassified from AOCI to net income, net of tax	578			—			578
Net current period other comprehensive income	155,602			(7,927		)	147,675
Ending balance	101,490			22,304			123,794
Less: AOCI attributable to noncontrolling interest	—			(82		)	(82		)
Ending balance, Maiden shareholders	$	101,490		$	22,386		$	123,876



For the Nine Months Ended September 30, 2015	Change in net unrealized gains on investments			Foreign currency translation adjustments			Total
Beginning balance	$	78,579		$	16,665		$	95,244
Other comprehensive loss before reclassifications	(80,643		)	8,316			(72,327		)
Amounts reclassified from AOCI to net income, net of tax	(5		)	—			(5		)
Net current period other comprehensive loss	(80,648		)	8,316			(72,332		)
Ending balance	(2,069		)	24,981			22,912
Less: AOCI attributable to noncontrolling interest	—			(95		)	(95		)
Ending balance, Maiden shareholders	$	(2,069	)	$	25,076		$	23,007

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Section S99
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-Section S99
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 210
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section S99
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-Subparagraph (SAB Topic 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.3-04)
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
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-Section 50
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Commitments and Contingencies

9 Months Ended

Sep. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

There are no material changes from the commitments and contingencies previously disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2015.

Dividends Declared

On August 3, 2016, the Company's Board of Directors authorized the following quarterly dividend:



	Dividend per Share		Payable on:	Record date:
Common shares	$	0.14	October 19, 2016	October 5, 2016

Legal Proceedings

From time to time, the Company is subject to routine legal proceedings, including arbitrations, arising in the ordinary course of business. These legal proceedings generally relate to claims asserted by or against the Company in the ordinary course of insurance or reinsurance operations. Based on the Company's opinion, the eventual outcome of these legal proceedings is not expected to have a material adverse effect on its financial condition or results of operations.

In April 2009, the Company learned that Bentzion S. Turin, the former Chief Operating Officer, General Counsel and Secretary of Maiden Holdings and Maiden Bermuda, sent a letter to the U.S. Department of Labor claiming that his employment with the Company was terminated in retaliation for corporate whistle blowing in violation of the whistle blower protection provisions of the Sarbanes-Oxley Act of 2002. Mr. Turin alleged concerns regarding corporate governance with respect to negotiation of the terms of the Trust Preferred Securities Offering and seeks reinstatement as Chief Operating Officer, General Counsel and Secretary of Maiden Holdings and Maiden Bermuda, back pay and legal fees incurred. On December 31, 2009, the U.S. Secretary of Labor found no reasonable cause for Mr. Turin’s claim and dismissed the complaint in its entirety. Mr. Turin objected to the Secretary's

findings and requested a hearing before an administrative law judge in the U.S. Department of Labor. The Company moved to dismiss Mr. Turin's complaint, and its motion was granted by the Administrative Law Judge on June 30, 2011.

On July 13, 2011, Mr. Turin filed a petition for review of the Administrative Law Judge's decision with the Administrative Review Board in the U.S. Department of Labor. The Company filed its brief in opposition to the petition for review on October 19, 2011. On March 29, 2013, the Administrative Review Board reversed the dismissal of the complaint on procedural grounds, and remanded the case to the administrative law judge. The administrative hearing began in September 2014, and we expect it to conclude in 2017. The Company believes that it had ample reason for terminating such employment for good and sufficient legal cause, and the Company believes that the claim is without merit and is vigorously defending this claim.

Subsequent Events

9 Months Ended

Sep. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

On November 1, 2016, the Company's Board of Directors authorized the following quarterly dividends:



	Dividend per Share		Payable on:	Record date:
Common shares	$	0.15	January 17, 2017	January 3, 2017
Preference shares - Series A	$	0.515625	December 15, 2016	December 1, 2016
Preference shares - Series C	$	0.445313	December 15, 2016	December 1, 2016

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of Maiden Holdings, Ltd. ("Maiden Holdings") and its subsidiaries (the "Company" or "Maiden") and have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP" or "U.S. GAAP") for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the U.S. Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All significant inter-company transactions and accounts have been eliminated. These interim unaudited Condensed Consolidated Financial Statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim period and all such adjustments are of a normal recurring nature. The results of operations for the interim period are not necessarily indicative, if annualized, of those to be expected for the full year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. These unaudited Condensed Consolidated Financial Statements, including these notes, should be read in conjunction with the Company's audited Consolidated Financial Statements, and related notes thereto, included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015. Certain reclassifications have been made for 2015 to conform to the 2016 presentation and have no impact on net income and total equity previously reported.
Recently Issued Accounting Standards Not Yet Adopted	Transition related to Accounting Standards Update ("ASU") No. 2015-03: Simplifying the Presentation of Debt Issuance Costs Effective January 1, 2016, the Company adopted the new guidance under ASU 2015-03 which requires that debt issuance costs be presented as a direct deduction from the related debt liability rather than as an asset in the balance sheet. The amortization of such costs is reported as an interest expense. The Company applied this new guidance retrospectively to all prior periods presented. The adoption of this new guidance reduced the December 31, 2015 audited consolidated total assets and total liabilities by $10,067, respectively, representing the amount of unamortized issuance costs related to our Senior Notes which was previously presented as part of other assets. There was no impact on the net income, related per-share amounts or the retained earnings for the periods affected by the adoption of this guidance. Recently Issued Accounting Standards Not Yet Adopted Disclosures about Short-Duration Contracts In May 2015, the Financial Accounting Standards Board ("FASB") issued ASU 2015-09 which is aimed at providing users of financial statements with more transparent information about an insurance entity’s initial claim estimates and subsequent adjustments to those estimates, methodologies and judgments in estimating claims, and the timing, frequency and severity of claims. The new disclosures are required for short-duration insurance contracts issued by insurers. For public business entities, this guidance will be effective for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted and should be applied retrospectively by providing comparative disclosures for each period presented. As this guidance is disclosure-related only, the adoption of this guidance will not have a material impact on the Company’s statements of operations and financial position. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued ASU 2016-01 that will change how entities measure certain equity investments and present changes in the fair value of financial liabilities measured under the fair value option that are attributable to their own credit. The new guidance also changes certain disclosure requirements and other aspects of current U.S. GAAP. It does not change the guidance for classifying and measuring investments in debt securities and loans. Under the new guidance, entities will have to measure many equity investments at fair value and recognize any changes in fair value in net income unless the investments qualify for the new practicability exception. This includes investments in partnerships, unincorporated joint ventures and limited liability companies that do not result in consolidation and are not accounted for under the equity method. Entities will no longer be able to recognize unrealized holding gains and losses on equity securities they classify today as available for sale ("AFS") in Accumulated Other Comprehensive Income ("AOCI"). They also will no longer be able to use the cost method of accounting for equity securities that do not have readily determinable fair values. The guidance is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. The Company is evaluating the impact of this new guidance on its consolidated results of operations and financial condition. 2. Significant Accounting Policies (continued) Accounting for Leases In February 2016, the FASB issued final Accounting Standards Codification ("ASC") 842 guidance that requires lessees to put most leases on their balance sheets but recognize expenses on their income statement in a manner similar to today's accounting. The guidance also eliminates today's real-estate-specific provisions for all entities. All entities classify leases to determine how to recognize lease-related revenue and expense. The U.S. GAAP standard is effective for public business entities and certain not-for-profit entities and employee benefit plans for annual periods beginning after December 15, 2018, and interim periods within those years. Early adoption is permitted for all entities. The Company is evaluating the impact of this new guidance on its consolidated results of operations and financial condition. Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU 2016-09 guidance that outlines changes for certain aspects of share-based payments to employees, such as accounting for forfeitures, which applies to the Company. Under the new guidance, the entities can elect to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The guidance is effective for public business entities for fiscal year beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted for all entities, in any annual or interim period for which financial statements haven't been issued or made available for issuance, but all of the guidance must be adopted in the same period. The Company is evaluating the impact of this new guidance on its consolidated results of operations and financial condition. Accounting for Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU 2016-13 guidance that changes the impairment model for most financial assets and certain other instruments that are not measured at fair value through net income. The standard will replace today's "incurred loss" approach with an "expected loss" model for instruments measured at amortized cost and require entities to record allowances for available-for-sale debt securities rather than reduce the carrying amount, as they do today under the other-than-temporary impairment model. It also simplifies the accounting model for purchased credit-impaired debt securities and loans. Entities will apply the standard's provisions as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The guidance is effective for public business entities for annual periods beginning after December 15, 2019, and interim periods therein. The Company is evaluating the impact of this new guidance on its consolidated results of operations and financial condition. Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued ASU 2016-15 guidance to clarify how entities should classify certain cash receipts and cash payments on the statement of cash flows. The new guidance amends ASC 230 Statement of Cash Flows, a principles based requiring judgment to determine the appropriate classification of cash flow as operating, investing or financing activities which created diversity in how certain cash receipts and cash payments were classified. The new guidance clarifies that if a receipt or payment has aspects of more than one class of cash flows and cannot be separated, the classification will depend on the predominant source or use. While the new guidance attempts to clarify how the predominance principle should be applied, judgment will still be required. The guidance is effective for public business entities for annual periods beginning after December 15, 2017 and interim periods therein. Early adoption is permitted. Entities will have to apply the guidance retrospectively, but if it is impracticable to do so for an issue, the amendments related to that issue would be applied prospectively. The Company is evaluating the impact of this new guidance on its consolidated results of operations and financial condition. Intra-Entity Assets Other Than Inventory In October 2016, the FASB issued ASU 2016-16 guidance that will require entities to recognize the income tax effects of intercompany sales and transfers of assets other than inventory as expense or benefit, in the period in which the transfer occurs as opposed to being deferred the income tax effects until the intercompany asset has been sold to an outside party, according to the current guidance in effect. The new guidance will require companies to defer the income tax effects only of intercompany transfers of inventory. The companies will be required to apply a modified retrospective approach with a cumulative catch-up adjustment to opening retained earnings in the period of adoption. In addition, companies will record deferred tax balances with an offset to opening retained earnings for amounts they haven't recognized under the new guidance. If a valuation allowance is necessary on the date of the adoption, that allowance will be recorded with an offset to opening retained earnings. The new guidance is effective for public business entities for annual periods beginning after December 15, 2017 and interim periods therein. Early adoption is permitted. The Company is evaluating the impact of this new guidance on its consolidated results of operations and financial condition.

Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Underwriting results of operating segments

The following tables summarize our reporting segment's underwriting results and the reconciliation of our reportable segments and Other category's underwriting results to our consolidated net income:



For the Three Months Ended September 30, 2016	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	186,750		$	520,104		$	—		$	706,854
Net premiums written	$	179,092		$	511,561		$	—		$	690,653
Net premiums earned	$	175,141		$	523,137		$	—		$	698,278
Other insurance revenue	2,345			—			—			2,345
Net loss and loss adjustment expenses ("LAE")	(132,396		)	(334,310		)	(45		)	(466,751		)
Commission and other acquisition expenses	(39,868		)	(166,836		)	(2		)	(206,706		)
General and administrative expenses	(9,038		)	(759		)	—			(9,797		)
Underwriting income (loss)	$	(3,816	)	$	21,232		$	(47	)	$	17,369
Reconciliation to net income
Net investment income and realized gains on investment										37,566
Interest and amortization expenses										(6,856		)
Amortization of intangible assets										(616		)
Foreign exchange and other gains										687
Other general and administrative expenses										(7,155		)
Income tax expense										(199		)
Net income										$	40,796

Net loss and LAE ratio ⁽¹⁾	74.6		%	63.9		%				66.6		%
Commission and other acquisition expense ratio ⁽²⁾	22.5		%	31.9		%				29.5		%
General and administrative expense ratio⁽³⁾	5.1		%	0.1		%				2.4		%
Combined ratio⁽⁴⁾	102.2		%	95.9		%				98.5		%

3. Segment Reporting (continued)



For the Three Months Ended September 30, 2015	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	174,307		$	454,194		$	—		$	628,501
Net premiums written	$	163,710		$	435,443		$	—		$	599,153
Net premiums earned	$	193,207		$	465,313		$	—		$	658,520
Other insurance revenue	2,177			—			—			2,177
Net loss and LAE	(142,468		)	(297,780		)	(3,924		)	(444,172		)
Commission and other acquisition expenses	(51,714		)	(146,008		)	83			(197,639		)
General and administrative expenses	(8,218		)	(656		)	—			(8,874		)
Underwriting income (loss)	$	(7,016	)	$	20,869		$	(3,841	)	$	10,012
Reconciliation to net income
Net investment income and realized gains on investment										34,059
Net impairment losses recognized in earnings										(1,060		)
Interest and amortization expenses										(7,266		)
Amortization of intangible assets										(710		)
Foreign exchange and other gains										1,427
Other general and administrative expenses										(7,579		)
Income tax expense										(368		)
Net income										$	28,515

Net loss and LAE ratio ⁽¹⁾	72.9		%	63.9		%				67.2		%
Commission and other acquisition expense ratio ⁽²⁾	26.5		%	31.4		%				29.9		%
General and administrative expense ratio⁽³⁾	4.2		%	0.1		%				2.5		%
Combined ratio⁽⁴⁾	103.6		%	95.4		%				99.6		%

3. Segment Reporting (continued)



For the Nine Months Ended September 30, 2016	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	667,388		$	1,591,902		$	—		$	2,259,290
Net premiums written	$	626,522		$	1,507,389		$	—		$	2,133,911
Net premiums earned	$	538,152		$	1,413,699		$	—		$	1,951,851
Other insurance revenue	8,696			—			—			8,696
Net loss and LAE	(395,718		)	(898,703		)	(2,940		)	(1,297,361		)
Commission and other acquisition expenses	(139,895		)	(447,604		)	(2		)	(587,501		)
General and administrative expenses	(26,717		)	(2,308		)	—			(29,025		)
Underwriting income (loss)	$	(15,482	)	$	65,084		$	(2,942	)	$	46,660
Reconciliation to net income
Net investment income and realized gains on investment										111,802
Interest and amortization expenses										(21,314		)
Accelerated amortization of senior note issuance cost										(2,345		)
Amortization of intangible assets										(1,846		)
Foreign exchange and other gains										6,474
Other general and administrative expenses										(20,713		)
Income tax expense										(1,206		)
Net income										$	117,512

Net loss and LAE ratio ⁽¹⁾	72.4		%	63.5		%				66.2		%
Commission and other acquisition expense ratio ⁽²⁾	25.6		%	31.7		%				30.0		%
General and administrative expense ratio⁽³⁾	4.8		%	0.2		%				2.5		%
Combined ratio⁽⁴⁾	102.8		%	95.4		%				98.7		%

3. Segment Reporting (continued)



For the Nine Months Ended September 30, 2015	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	631,294		$	1,505,642		$	(1	)	$	2,136,935
Net premiums written	$	602,693		$	1,423,060		$	1		$	2,025,754
Net premiums earned	$	570,694		$	1,274,563		$	2		$	1,845,259
Other insurance revenue	9,408			—			—			9,408
Net loss and LAE	(417,846		)	(811,016		)	(7,643		)	(1,236,505		)
Commission and other acquisition expenses	(152,332		)	(399,291		)	(55		)	(551,678		)
General and administrative expenses	(25,976		)	(2,200		)	—			(28,176		)
Underwriting income (loss)	$	(16,052	)	$	62,056		$	(7,696	)	$	38,308
Reconciliation to net income
Net investment income and realized gains on investment										98,587
Net impairment losses recognized in earnings										(1,060		)
Interest and amortization expenses										(21,796		)
Amortization of intangible assets										(2,130		)
Foreign exchange and other gains										4,062
Other general and administrative expenses										(20,775		)
Income tax expense										(1,636		)
Net income										$	93,560

Net loss and LAE ratio ⁽¹⁾	72.0		%	63.6		%				66.7		%
Commission and other acquisition expense ratio ⁽²⁾	26.3		%	31.3		%				29.7		%
General and administrative expense ratio⁽³⁾	4.5		%	0.2		%				2.7		%
Combined ratio⁽⁴⁾	102.8		%	95.1		%				99.1		%



(1) Calculated by dividing net loss and LAE by net premiums earned and other insurance revenue.
(2) Calculated by dividing commission and other acquisition expenses by net premiums earned and other insurance revenue.
(3) Calculated by dividing general and administrative expenses by net premiums earned and other insurance revenue.
(4) Calculated by adding together the net loss and LAE ratio, commission and other acquisition expense ratio and general and administrative expense ratio.

The following tables summarize the total assets of our reportable segments including the reconciliation to our consolidated assets at September 30, 2016 and December 31, 2015:



September 30, 2016	Diversified Reinsurance		AmTrust Reinsurance		Total
Total assets - reportable segments	$	1,929,455	$	3,937,523	$	5,866,978
Corporate assets	—		—		600,984
Total Assets	$	1,929,455	$	3,937,523	$	6,467,962



December 31, 2015	Diversified Reinsurance		AmTrust Reinsurance		Total
Total assets - reportable segments	$	1,644,541	$	3,178,859	$	4,823,400
Corporate assets	—		—		880,178
Total Assets	$	1,644,541	$	3,178,859	$	5,703,578

Net premiums by major line of business



For the Three Months Ended September 30,	2016				2015
Net premiums written	Total		% of Total		Total		% of Total
Diversified Reinsurance
Property	$	30,606	4.4	%	$	29,574	4.9	%
Casualty	115,360		16.7	%	101,191		16.9	%
Accident and Health	14,845		2.2	%	12,918		2.2	%
International	18,281		2.6	%	20,027		3.3	%
Total Diversified Reinsurance	179,092		25.9	%	163,710		27.3	%
AmTrust Reinsurance
Small Commercial Business	314,677		45.6	%	231,416		38.6	%
Specialty Program	98,895		14.3	%	86,612		14.5	%
Specialty Risk and Extended Warranty	97,989		14.2	%	117,415		19.6	%
Total AmTrust Reinsurance	511,561		74.1	%	435,443		72.7	%
	$	690,653	100.0	%	$	599,153	100.0	%



For the Three Months Ended September 30,	2016				2015
Net premiums earned	Total		% of Total		Total		% of Total
Diversified Reinsurance
Property	$	29,921	4.3	%	$	39,593	6.0	%
Casualty	105,893		15.2	%	115,646		17.6	%
Accident and Health	18,436		2.6	%	14,093		2.1	%
International	20,891		3.0	%	23,875		3.6	%
Total Diversified Reinsurance	175,141		25.1	%	193,207		29.3	%
AmTrust Reinsurance
Small Commercial Business	320,596		45.9	%	257,296		39.1	%
Specialty Program	89,856		12.9	%	80,302		12.2	%
Specialty Risk and Extended Warranty	112,685		16.1	%	127,715		19.4	%
Total AmTrust Reinsurance	523,137		74.9	%	465,313		70.7	%
	$	698,278	100.0	%	$	658,520	100.0	%

3. Segment Reporting (continued)



For the Nine Months Ended September 30,	2016				2015
Net premiums written	Total		% of Total		Total		% of Total
Diversified Reinsurance
Property	$	123,991	5.8	%	$	128,482	6.3	%
Casualty	365,332		17.1	%	359,530		17.8	%
Accident and Health	68,140		3.2	%	53,483		2.7	%
International	69,059		3.2	%	61,198		3.0	%
Total Diversified Reinsurance	626,522		29.3	%	602,693		29.8	%
AmTrust Reinsurance
Small Commercial Business	983,601		46.1	%	857,617		42.3	%
Specialty Program	268,193		12.6	%	262,068		12.9	%
Specialty Risk and Extended Warranty	255,595		12.0	%	303,375		15.0	%
Total AmTrust Reinsurance	1,507,389		70.7	%	1,423,060		70.2	%
Other	—		—	%	1		—	%
	$	2,133,911	100.0	%	$	2,025,754	100.0	%



For the Nine Months Ended September 30,	2016				2015
Net premiums earned	Total		% of Total		Total		% of Total
Diversified Reinsurance
Property	$	103,023	5.3	%	$	112,878	6.1	%
Casualty	313,736		16.1	%	350,549		19.0	%
Accident and Health	55,788		2.8	%	41,361		2.2	%
International	65,605		3.4	%	65,906		3.6	%
Total Diversified Reinsurance	538,152		27.6	%	570,694		30.9	%
AmTrust Reinsurance
Small Commercial Business	864,699		44.3	%	734,731		39.8	%
Specialty Program	251,543		12.9	%	210,690		11.4	%
Specialty Risk and Extended Warranty	297,457		15.2	%	329,142		17.9	%
Total AmTrust Reinsurance	1,413,699		72.4	%	1,274,563		69.1	%
Other	—		—	%	2		—	%
	$	1,951,851	100.0	%	$	1,845,259	100.0	%

Investments (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of Investments [Abstract]

Original or amortized cost, estimated fair value and gross unrealized gains and losses of available-for-sale and other investments



September 30, 2016	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	5,183	$	317	$	—		$	5,500
U.S. agency bonds – mortgage-backed	1,572,387		34,128		(737		)	1,605,778
U.S. agency bonds – other	4,256		362		—			4,618
Non-U.S. government and supranational bonds	35,579		264		(3,181		)	32,662
Asset-backed securities	205,534		7,306		(49		)	212,791
Corporate bonds	1,775,739		75,202		(31,688		)	1,819,253
Municipal bonds	62,195		5,545		—			67,740
Total AFS fixed maturities	3,660,873		123,124		(35,655		)	3,748,342
Held-to-maturity ("HTM") fixed maturities:
Corporate bonds	759,973		38,941		(833		)	798,081
Total HTM fixed maturities	759,973		38,941		(833		)	798,081
Other investments	10,860		1,408		—			12,268
Total investments	$	4,431,706	$	163,473	$	(36,488	)	$	4,558,691



December 31, 2015	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	5,714	$	312	$	(16	)	$	6,010
U.S. agency bonds – mortgage-backed	1,471,782		15,399		(10,190		)	1,476,991
U.S. agency bonds – other	23,734		577		—			24,311
Non-U.S. government and supranational bonds	35,128		—		(4,584		)	30,544
Asset-backed securities	165,719		1,174		(1,089		)	165,804
Corporate bonds	1,798,610		38,070		(97,012		)	1,739,668
Municipal bonds	62,177		2,583		—			64,760
Total AFS fixed maturities	3,562,864		58,115		(112,891		)	3,508,088
HTM fixed maturities:
Corporate bonds	607,843		3,458		(12,326		)	598,975
Total HTM fixed maturities	607,843		3,458		(12,326		)	598,975
Other investments	10,816		1,091		(95		)	11,812
Total investments	$	4,181,523	$	62,664	$	(125,312	)	$	4,118,875

Contractual maturities of fixed maturities, available-for-sale

4. Investments (continued)



	AFS fixed maturities				HTM fixed maturities
September 30, 2016	Amortized cost		Fair value		Amortized cost		Fair value
Maturity
Due in one year or less	$	124,653	$	120,322	$	—	$	—
Due after one year through five years	483,935		486,485		223,261		226,753
Due after five years through ten years	1,260,222		1,308,224		531,624		566,140
Due after ten years	14,142		14,742		5,088		5,188
	1,882,952		1,929,773		759,973		798,081
U.S. agency bonds – mortgage-backed	1,572,387		1,605,778		—		—
Asset-backed securities	205,534		212,791		—		—
Total fixed maturities	$	3,660,873	$	3,748,342	$	759,973	$	798,081

Summary of available-for-sale securities and other investments in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the securities have continuously been in an unrealized loss position



	Less than 12 Months					12 Months or more					Total
September 30, 2016	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Fixed maturities
U.S. agency bonds – mortgage-backed	$	13,029	$	(27	)	$	54,566	$	(710	)	$	67,595	$	(737	)
Non–U.S. government and supranational bonds	1,081		(41		)	27,645		(3,140		)	28,726		(3,181		)
Asset-backed securities	21,746		(49		)	—		—			21,746		(49		)
Corporate bonds	171,844		(1,551		)	355,317		(30,970		)	527,161		(32,521		)
Total temporarily impaired fixed maturities	$	207,700	$	(1,668	)	$	437,528	$	(34,820	)	$	645,228	$	(36,488	)



	Less than 12 Months					12 Months or more					Total
December 31, 2015	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Fixed maturities
U.S. treasury bonds	$	1,119	$	(16	)	$	—	$	—		$	1,119	$	(16	)
U.S. agency bonds – mortgage-backed	443,331		(4,113		)	170,053		(6,077		)	613,384		(10,190		)
Non–U.S. government and supranational bonds	6,958		(365		)	22,586		(4,219		)	29,544		(4,584		)
Asset-backed securities	89,838		(1,089		)	—		—			89,838		(1,089		)
Corporate bonds	752,911		(41,352		)	399,779		(67,986		)	1,152,690		(109,338		)
Total temporarily impaired fixed maturities	1,294,157		(46,935		)	592,418		(78,282		)	1,886,575		(125,217		)
Other investments	4,905		(95		)	—		—			4,905		(95		)
Total temporarily impaired fixed maturities and other investments	$	1,299,062	$	(47,030	)	$	592,418	$	(78,282	)	$	1,891,480	$	(125,312	)

Summary of the credit ratings of fixed maturities

The following summarizes the credit ratings of our fixed maturities:



Ratings* as of September 30, 2016	Amortized cost		Fair value		% of Total fair value
Fixed maturities
U.S. treasury bonds	$	5,183	$	5,500	0.1	%
U.S. agency bonds	1,576,643		1,610,396		35.4	%
AAA	164,038		173,127		3.8	%
AA+, AA, AA-	244,901		255,882		5.6	%
A+, A, A-	1,300,659		1,344,515		29.6	%
BBB+, BBB, BBB-	964,197		990,817		21.8	%
BB+ or lower	165,225		166,186		3.7	%
Total	$	4,420,846	$	4,546,423	100.0	%



Ratings* as of December 31, 2015	Amortized cost		Fair value		% of Total fair value
Fixed maturities
U.S. treasury bonds	$	5,714	$	6,010	0.1	%
U.S. agency bonds	1,495,516		1,501,302		36.6	%
AAA	170,190		170,391		4.1	%
AA+, AA, AA-	222,506		223,084		5.4	%
A+, A, A-	1,075,550		1,066,794		26.0	%
BBB+, BBB, BBB-	1,077,064		1,039,228		25.3	%
BB+ or lower	124,167		100,254		2.5	%
Total	$	4,170,707	$	4,107,063	100.0	%

*Based on Standard & Poor’s ("S&P"), or equivalent, ratings

Portfolio of other investments

The following table shows our portfolio of other investments:



	September 30, 2016				December 31, 2015
	Fair value		% of Total fair value		Fair value		% of Total fair value
Investment in quoted equity	$	5,560	45.3	%	$	4,905	41.5	%
Investments in limited partnerships	5,708		46.5	%	5,907		50.0	%
Other	1,000		8.2	%	1,000		8.5	%
Total other investments	$	12,268	100.0	%	$	11,812	100.0	%

Analysis of realized and unrealized gains on investment

The following provides an analysis of net realized gains on investment included in the unaudited Condensed Consolidated Statements of Income:



For the Three Months Ended September 30, 2016	Gross gains		Gross losses		Net
AFS fixed maturities	$	1,813	$	—	$	1,813
Other investments	87		—		87
Net realized gains on investment	$	1,900	$	—	$	1,900



For the Three Months Ended September 30, 2015	Gross gains		Gross losses		Net
AFS fixed maturities	$	1,216	$	—	$	1,216
Net realized gains on investment	$	1,216	$	—	$	1,216



For the Nine Months Ended September 30, 2016	Gross gains		Gross losses			Net
AFS fixed maturities	$	4,953	$	(891	)	$	4,062
Other investments	449		—			449
Net realized gains on investment	$	5,402	$	(891	)	$	4,511



For the Nine Months Ended September 30, 2015	Gross gains		Gross losses		Net
AFS fixed maturities	$	2,264	$	—	$	2,264
Other investments	63		—		63
Net realized gains on investment	$	2,327	$	—	$	2,327

Net unrealized gains on available-for-sale securities and other investments

4. Investments (continued)



	September 30, 2016			December 31, 2015
Fixed maturities	$	100,196		$	(55,024	)
Other investments	1,408			996
Total net unrealized gain (loss)	101,604			(54,028		)
Deferred income tax expense	(114		)	(84		)
Net unrealized gains, net of deferred income tax	$	101,490		$	(54,112	)
Change in net unrealized gains, net of deferred income tax	$	155,602

Fair value of restricted assets

The fair value of our restricted assets was as follows:



	September 30, 2016		December 31, 2015
Restricted cash and cash equivalents – third party agreements	$	112,038	$	102,837
Restricted cash and cash equivalents – related party agreements	254,433		139,944
Restricted cash and cash equivalents – U.S. state regulatory authorities	92		78
Total restricted cash and cash equivalents	366,563		242,859
Restricted investments AFS – in trust for third party agreements at fair value (amortized cost: 2016 – $1,233,629; 2015 – $1,081,202)	1,256,528		1,067,602
Restricted investments AFS – in trust for related party agreements at fair value (amortized cost: 2016 – $1,969,268; 2015 – $1,781,178)	2,011,761		1,754,705
Restricted investments HTM – in trust for related party agreements at fair value (amortized cost: 2016 – $759,973; 2015 – $607,843)	798,081		598,975
Restricted investments AFS – in trust for U.S. state regulatory authorities (amortized cost: 2016 – $4,055; 2015 – $4,071)	4,312		4,303
Total restricted investments	4,070,682		3,425,585
Total restricted cash and cash equivalents and investments	$	4,437,245	$	3,668,444

- Definition

Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

+ References + Details

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Fair value hierarchy of financial assets and financial liabilities measured on a recurring basis

We classified our financial instruments measured at fair value on a recurring basis in the following valuation hierarchy:



September 30, 2016	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	5,500		$	—		$	—		$	5,500
U.S. agency bonds – mortgage-backed	—			1,605,778			—			1,605,778
U.S. agency bonds – other	—			4,618			—			4,618
Non-U.S. government and supranational bonds	—			32,662			—			32,662
Asset-backed securities	—			212,791			—			212,791
Corporate bonds	—			1,819,253			—			1,819,253
Municipal bonds	—			67,740			—			67,740
Other investments	5,560			—			6,708			12,268
Total	$	11,060		$	3,742,842		$	6,708		$	3,760,610
As a percentage of total assets	0.2		%	57.9		%	0.1		%	58.2		%

5. Fair Value of Financial Instruments (continued)



December 31, 2015	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	6,010		$	—		$	—		$	6,010
U.S. agency bonds – mortgage-backed	—			1,476,991			—			1,476,991
U.S. agency bonds – other	—			24,311			—			24,311
Non-U.S. government and supranational bonds	—			30,544			—			30,544
Asset-backed securities	—			165,804			—			165,804
Corporate bonds	—			1,739,668			—			1,739,668
Municipal bonds	—			64,760			—			64,760
Other investments	4,905			—			6,907			11,812
Total	$	10,915		$	3,502,078		$	6,907		$	3,519,900
As a percentage of total assets	0.2		%	61.4		%	0.1		%	61.7		%

Changes in Level 3 for financial instruments measured at fair value on a recurring basis

The following table presents changes in Level 3 for our financial instruments measured at fair value on a recurring basis:



	For the Three Months Ended
Other investments:	September 30, 2016			September 30, 2015
Balance at beginning of period	$	6,562		$	6,906
Total realized gains – included in net realized gains on investment	87			—
Change in total unrealized gains – included in other comprehensive income (loss)	29			161
Purchases	75			—
Redemptions	(45		)	(270		)
Balance at end of period	$	6,708		$	6,797

5. Fair Value of Financial Instruments (continued)



	For the Nine Months Ended
Other investments:	September 30, 2016			September 30, 2015
Balance at beginning of period	$	6,907		$	6,581
Total realized gains – included in net realized gains on investment	449			63
Change in total unrealized gains – included in other comprehensive income (loss)	(243		)	353
Purchases	167			144
Redemptions	(572		)	(344		)
Balance at end of period	$	6,708		$	6,797

Carrying values and fair values of financial instruments

The following table presents the fair value and carrying value of the financial instruments not measured at fair value:



	September 30, 2016				December 31, 2015
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets
HTM - corporate bonds	$	759,973	$	798,081	$	607,843	$	598,975
Total financial assets	$	759,973	$	798,081	$	607,843	$	598,975
Financial Liabilities
MHNA - 8.25%	$	—	$	—	$	107,500	$	110,424
MHNB - 8.00%	100,000		102,608		100,000		105,328
MHNC - 7.75%	152,500		164,395		152,500		165,456
MHLA - 6.625%	110,000		114,752		—		—
Total financial liabilities	$	362,500	$	381,755	$	360,000	$	381,208

Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Schedule of Outstanding Senior Notes Issuances

The following table details the Company's outstanding Senior Notes issuances as of September 30, 2016:

6. Long-Term Debt (continued)



	2012 Senior Notes			2013 Senior Notes			2016 Senior Notes
Principal	$	100,000		$	152,500		$	110,000
Debt Issuance Costs	3,406			5,054			3,715
Net Proceeds	$	96,594		$	147,446		$	106,285

Unamortized debt issuance costs	$	2,894		$	4,574		$	3,704

Other details:
Maturity date	March 27, 2042			December 1, 2043			June 14, 2046
Earliest redeemable date (for cash)	March 27, 2017			December 1, 2018			June 14, 2021
Coupon rate	8.00		%	7.75		%	6.625		%
Effective interest rate	8.31		%	8.04		%	7.07		%

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Summary of elements used in calculating basic and diluted earnings per common share

The following is a summary of the elements used in calculating basic and diluted earnings per common share:



For the Three Months Ended September 30,	2016			2015
Numerator:
Net income attributable to Maiden shareholders	$	40,852		$	28,584
Dividends on preference shares - Series A	(3,094		)	(3,094		)
Dividends on convertible preference shares - Series B	(2,991		)	(2,991		)
Dividends on preference shares - Series C	(2,938		)	—
Amount allocated to participating common shareholders⁽¹⁾	(19		)	(17		)
Numerator for basic EPS - net income allocated to Maiden common shareholders	$	31,810		$	22,482
Potentially dilutive securities
Dividends on convertible preference shares - Series B	2,991			2,991
Numerator for diluted EPS - net income allocated to Maiden common shareholders after assumed conversion	$	34,801		$	25,473
Denominator:
Weighted average number of common shares outstanding – basic	75,993,451			73,638,980
Potentially dilutive securities:
Share options and restricted share units	1,100,206			1,294,767
Convertible preference shares⁽²⁾	9,057,294			10,809,258
Adjusted weighted average number of common shares and assumed conversions – diluted	86,150,951			85,743,005
Basic earnings per share attributable to Maiden common shareholders:	$	0.42		$	0.31
Diluted earnings per share attributable to Maiden common shareholders:	$	0.40		$	0.30

8. Earnings per Common Share (continued)



For the Nine Months Ended September 30,	2016			2015
Numerator:
Net income attributable to Maiden shareholders	$	117,678		$	93,676
Dividends on preference shares - Series A	(9,282		)	(9,282		)
Dividends on convertible preference shares - Series B	(8,971		)	(8,971		)
Dividends on preference shares - Series C	(9,470		)	—
Amount allocated to participating common shareholders⁽¹⁾	(55		)	(59		)
Numerator for basic EPS - net income allocated to Maiden common shareholders	$	89,900		$	75,364
Potentially dilutive securities
Dividends on convertible preference shares- Series B	8,971			8,971
Numerator for diluted EPS - net income allocated to Maiden common shareholders after assumed conversion	$	98,871		$	84,335
Denominator:
Weighted average number of common shares outstanding – basic	74,625,839			73,403,998
Potentially dilutive securities:
Share options and restricted share units	1,085,740			1,272,746
Convertible preference shares⁽²⁾	10,306,440			10,809,258
Adjusted weighted average number of common shares and assumed conversions – diluted	86,018,019			85,486,002
Basic earnings per share attributable to Maiden common shareholders:	$	1.20		$	1.03
Diluted earnings per share attributable to Maiden common shareholders:	$	1.15		$	0.99

(1) This represents earnings allocated to the holders of non-vested restricted shares issued to the Company's employees under the 2007 Share Incentive Plan.

Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2016

Stockholders' Equity Note [Abstract]

Schedule of accumulated other comprehensive income

9. Shareholders' Equity (continued)

Accumulated Other Comprehensive Income

The following tables set forth financial information regarding the changes in the balances of each component of AOCI:



For the Three Months Ended September 30, 2016	Change in net unrealized gains on investments			Foreign currency translation adjustments			Total
Beginning balance	$	93,793		$	25,034		$	118,827
Other comprehensive income before reclassifications	8,899			(2,730		)	6,169
Amounts reclassified from AOCI to net income, net of tax	(1,202		)	—			(1,202		)
Net current period other comprehensive income	7,697			(2,730		)	4,967
Ending balance	101,490			22,304			123,794
Less: AOCI attributable to noncontrolling interest	—			(82		)	(82		)
Ending balance, Maiden shareholders	$	101,490		$	22,386		$	123,876



For the Three Months Ended September 30, 2015	Change in net unrealized gains on investments			Foreign currency translation adjustments			Total
Beginning balance	$	15,115		$	25,722		$	40,837
Other comprehensive loss before reclassifications	(17,173		)	(741		)	(17,914		)
Amounts reclassified from AOCI to net income, net of tax	(11		)	—			(11		)
Net current period other comprehensive loss	(17,184		)	(741		)	(17,925		)
Ending balance	(2,069		)	24,981			22,912
Less: AOCI attributable to noncontrolling interest	—			(95		)	(95		)
Ending balance, Maiden shareholders	$	(2,069	)	$	25,076		$	23,007



For the Nine Months Ended September 30, 2016	Change in net unrealized gains on investments			Foreign currency translation adjustments			Total
Beginning balance	$	(54,112	)	$	30,231		$	(23,881	)
Other comprehensive income before reclassifications	155,024			(7,927		)	147,097
Amounts reclassified from AOCI to net income, net of tax	578			—			578
Net current period other comprehensive income	155,602			(7,927		)	147,675
Ending balance	101,490			22,304			123,794
Less: AOCI attributable to noncontrolling interest	—			(82		)	(82		)
Ending balance, Maiden shareholders	$	101,490		$	22,386		$	123,876



For the Nine Months Ended September 30, 2015	Change in net unrealized gains on investments			Foreign currency translation adjustments			Total
Beginning balance	$	78,579		$	16,665		$	95,244
Other comprehensive loss before reclassifications	(80,643		)	8,316			(72,327		)
Amounts reclassified from AOCI to net income, net of tax	(5		)	—			(5		)
Net current period other comprehensive loss	(80,648		)	8,316			(72,332		)
Ending balance	(2,069		)	24,981			22,912
Less: AOCI attributable to noncontrolling interest	—			(95		)	(95		)
Ending balance, Maiden shareholders	$	(2,069	)	$	25,076		$	23,007

Subsequent Events (Tables)

9 Months Ended

Sep. 30, 2016

Subsequent Events [Abstract]

Schedule of quarterly dividends

On November 1, 2016, the Company's Board of Directors authorized the following quarterly dividends:



	Dividend per Share		Payable on:	Record date:
Common shares	$	0.15	January 17, 2017	January 3, 2017
Preference shares - Series A	$	0.515625	December 15, 2016	December 1, 2016
Preference shares - Series C	$	0.445313	December 15, 2016	December 1, 2016

Significant Accounting Policies (Details) - ASU 2015-03 $ in Thousands	Dec. 31, 2015 USD ($)
Total assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unamortized debt issuance costs	$ (10,067)
Total liabilities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unamortized debt issuance costs	$ 10,067

Segment Reporting - Net Income (Loss) and Total Assets (Details) $ in Thousands		3 Months Ended		9 Months Ended
	Jun. 15, 2016 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2016 USD ($) Segment	Sep. 30, 2015 USD ($)	Dec. 31, 2015 USD ($)
Segment Reporting Information [Line Items]
Number of reporting segments \| Segment				2
Net Income (Loss) [Abstract]
Gross premiums written		$ 706,854	$ 628,501	$ 2,259,290	$ 2,136,935
Net premiums written		690,653	599,153	2,133,911	2,025,754
Net premiums earned		698,278	658,520	1,951,851	1,845,259
Other insurance revenue		2,345	2,177	8,696	9,408
Net loss and loss adjustment expenses (LAE)		(466,751)	(444,172)	(1,297,361)	(1,236,505)
Commission and other acquisition expenses		(206,706)	(197,639)	(587,501)	(551,678)
General and administrative expenses		(9,797)	(8,874)	(29,025)	(28,176)
Underwriting income (loss)		17,369	10,012	46,660	38,308
Reconciliation to net income
Net investment income and realized gains on investment		37,566	34,059	111,802	98,587
Net impairment losses recognized in earnings		0	(1,060)	0	(1,060)
Interest and amortization expenses		(6,856)	(7,266)	(21,314)	(21,796)
Accelerated amortization of senior note issuance cost	$ (2,345)	0	0	(2,345)	0
Amortization of intangible assets		(616)	(710)	(1,846)	(2,130)
Foreign exchange and other gains		687	1,427	6,474	4,062
Other general and administrative expenses		(7,155)	(7,579)	(20,713)	(20,775)
Income tax expense		(199)	(368)	(1,206)	(1,636)
Net income		$ 40,796	$ 28,515	$ 117,512	$ 93,560
Net loss and loss adjustment expense ratio		66.60%	67.20%	66.20%	66.70%
Commission and other acquisition expense ratio		29.50%	29.90%	30.00%	29.70%
General and administrative expense ratio		2.40%	2.50%	2.50%	2.70%
Combined ratio		98.50%	99.60%	98.70%	99.10%
Assets [Abstract]
Total assets - reportable segments		$ 5,866,978		$ 5,866,978		$ 4,823,400
Corporate assets		600,984		600,984		880,178
Total assets		6,467,962		6,467,962		5,703,578
Diversified Reinsurance Segment [Member]
Net Income (Loss) [Abstract]
Gross premiums written		186,750	$ 174,307	667,388	$ 631,294
Net premiums written		179,092	163,710	626,522	602,693
Net premiums earned		175,141	193,207	538,152	570,694
Other insurance revenue		2,345	2,177	8,696	9,408
Net loss and loss adjustment expenses (LAE)		(132,396)	(142,468)	(395,718)	(417,846)
Commission and other acquisition expenses		(39,868)	(51,714)	(139,895)	(152,332)
General and administrative expenses		(9,038)	(8,218)	(26,717)	(25,976)
Underwriting income (loss)		$ (3,816)	$ (7,016)	$ (15,482)	$ (16,052)
Reconciliation to net income
Net loss and loss adjustment expense ratio		74.60%	72.90%	72.40%	72.00%
Commission and other acquisition expense ratio		22.50%	26.50%	25.60%	26.30%
General and administrative expense ratio		5.10%	4.20%	4.80%	4.50%
Combined ratio		102.20%	103.60%	102.80%	102.80%
Assets [Abstract]
Total assets - reportable segments		$ 1,929,455		$ 1,929,455		1,644,541
Corporate assets		0		0		0
Total assets		1,929,455		1,929,455		1,644,541
AmTrust Reinsurance Segment [Member]
Net Income (Loss) [Abstract]
Gross premiums written		520,104	$ 454,194	1,591,902	$ 1,505,642
Net premiums written		511,561	435,443	1,507,389	1,423,060
Net premiums earned		523,137	465,313	1,413,699	1,274,563
Other insurance revenue		0	0	0	0
Net loss and loss adjustment expenses (LAE)		(334,310)	(297,780)	(898,703)	(811,016)
Commission and other acquisition expenses		(166,836)	(146,008)	(447,604)	(399,291)
General and administrative expenses		(759)	(656)	(2,308)	(2,200)
Underwriting income (loss)		$ 21,232	$ 20,869	$ 65,084	$ 62,056
Reconciliation to net income
Net loss and loss adjustment expense ratio		63.90%	63.90%	63.50%	63.60%
Commission and other acquisition expense ratio		31.90%	31.40%	31.70%	31.30%
General and administrative expense ratio		0.10%	0.10%	0.20%	0.20%
Combined ratio		95.90%	95.40%	95.40%	95.10%
Assets [Abstract]
Total assets - reportable segments		$ 3,937,523		$ 3,937,523		3,178,859
Corporate assets		0		0		0
Total assets		3,937,523		3,937,523		$ 3,178,859
Other Category [Member]
Net Income (Loss) [Abstract]
Gross premiums written		0	$ 0	0	$ (1)
Net premiums written		0	0	0	1
Net premiums earned		0	0	0	2
Other insurance revenue		0	0	0	0
Net loss and loss adjustment expenses (LAE)		(45)	(3,924)	(2,940)	(7,643)
Commission and other acquisition expenses		(2)	83	(2)	(55)
General and administrative expenses		0	0	0	0
Underwriting income (loss)		$ (47)	$ (3,841)	$ (2,942)	$ (7,696)

Segment Reporting - Net Premiums (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 690,653	$ 599,153	$ 2,133,911	$ 2,025,754
% of Total Net premiums written	100.00%	100.00%	100.00%	100.00%
Net premiums earned	$ 698,278	$ 658,520	$ 1,951,851	$ 1,845,259
% of Total Net premiums earned	100.00%	100.00%	100.00%	100.00%
Diversified Reinsurance Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 179,092	$ 163,710	$ 626,522	$ 602,693
% of Total Net premiums written	25.90%	27.30%	29.30%	29.80%
Net premiums earned	$ 175,141	$ 193,207	$ 538,152	$ 570,694
% of Total Net premiums earned	25.10%	29.30%	27.60%	30.90%
AmTrust Reinsurance Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 511,561	$ 435,443	$ 1,507,389	$ 1,423,060
% of Total Net premiums written	74.10%	72.70%	70.70%	70.20%
Net premiums earned	$ 523,137	$ 465,313	$ 1,413,699	$ 1,274,563
% of Total Net premiums earned	74.90%	70.70%	72.40%	69.10%
Other Category [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 0	$ 0	$ 0	$ 1
% of Total Net premiums written			0.00%	0.00%
Net premiums earned	0	0	$ 0	$ 2
% of Total Net premiums earned			0.00%	0.00%
Property [Member] \| Diversified Reinsurance Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 30,606	$ 29,574	$ 123,991	$ 128,482
% of Total Net premiums written	4.40%	4.90%	5.80%	6.30%
Net premiums earned	$ 29,921	$ 39,593	$ 103,023	$ 112,878
% of Total Net premiums earned	4.30%	6.00%	5.30%	6.10%
Casualty [Member] \| Diversified Reinsurance Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 115,360	$ 101,191	$ 365,332	$ 359,530
% of Total Net premiums written	16.70%	16.90%	17.10%	17.80%
Net premiums earned	$ 105,893	$ 115,646	$ 313,736	$ 350,549
% of Total Net premiums earned	15.20%	17.60%	16.10%	19.00%
Accident and Health [Member] \| Diversified Reinsurance Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 14,845	$ 12,918	$ 68,140	$ 53,483
% of Total Net premiums written	2.20%	2.20%	3.20%	2.70%
Net premiums earned	$ 18,436	$ 14,093	$ 55,788	$ 41,361
% of Total Net premiums earned	2.60%	2.10%	2.80%	2.20%
International [Member] \| Diversified Reinsurance Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 18,281	$ 20,027	$ 69,059	$ 61,198
% of Total Net premiums written	2.60%	3.30%	3.20%	3.00%
Net premiums earned	$ 20,891	$ 23,875	$ 65,605	$ 65,906
% of Total Net premiums earned	3.00%	3.60%	3.40%	3.60%
Small Commercial Business [Member] \| AmTrust Reinsurance Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 314,677	$ 231,416	$ 983,601	$ 857,617
% of Total Net premiums written	45.60%	38.60%	46.10%	42.30%
Net premiums earned	$ 320,596	$ 257,296	$ 864,699	$ 734,731
% of Total Net premiums earned	45.90%	39.10%	44.30%	39.80%
Specialty Program [Member] \| AmTrust Reinsurance Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 98,895	$ 86,612	$ 268,193	$ 262,068
% of Total Net premiums written	14.30%	14.50%	12.60%	12.90%
Net premiums earned	$ 89,856	$ 80,302	$ 251,543	$ 210,690
% of Total Net premiums earned	12.90%	12.20%	12.90%	11.40%
Specialty Risk and Extended Warranty [Member] \| AmTrust Reinsurance Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 97,989	$ 117,415	$ 255,595	$ 303,375
% of Total Net premiums written	14.20%	19.60%	12.00%	15.00%
Net premiums earned	$ 112,685	$ 127,715	$ 297,457	$ 329,142
% of Total Net premiums earned	16.10%	19.40%	15.20%	17.90%

Investments - Schedule of Investments Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Sep. 30, 2016	Dec. 31, 2015
Schedule of Investments [Abstract]
Fair value of securities transferred from AFS to HTM	$ 155,538
AFS transferred to HTM securities, unrealized gain	$ 15,770
Schedule of Investments [Line Items]
Fixed Maturities, available-for-sale, Original or amortized cost		$ 3,660,873	$ 3,562,864
Fixed Maturities, available-for-sale, Gross unrealized gains		123,124	58,115
Fixed Maturities, available-for-sale, Gross unrealized losses		(35,655)	(112,891)
Fixed Maturities, available-for-sale, Fair value		3,748,342	3,508,088
Fixed Maturities, held-to-maturity, Original or amortized cost		759,973	607,843
Fixed Maturities, held-to-maturity, Gross unrealized gains		38,941	3,458
Fixed Maturities, held-to-maturity, Gross unrealized losses		(833)	(12,326)
Fixed Maturities, held-to-maturity, Fair value		798,081	598,975
Other Investments, Original or amortized cost		10,860	10,816
Other Investments, Gross unrealized gains		1,408	1,091
Other Investments, Gross unrealized losses		0	(95)
Other investments		12,268	11,812
Total investments, Original or amortized cost		4,431,706	4,181,523
Investments, Gross unrealized gains		163,473	62,664
Investments, Gross unrealized losses		(36,488)	(125,312)
Total investments		4,558,691	4,118,875
U.S. treasury bonds [Member]
Schedule of Investments [Line Items]
Fixed Maturities, available-for-sale, Original or amortized cost		5,183	5,714
Fixed Maturities, available-for-sale, Gross unrealized gains		317	312
Fixed Maturities, available-for-sale, Gross unrealized losses		0	(16)
Fixed Maturities, available-for-sale, Fair value		5,500	6,010
U.S. agency bonds – mortgage-backed [Member]
Schedule of Investments [Line Items]
Fixed Maturities, available-for-sale, Original or amortized cost		1,572,387	1,471,782
Fixed Maturities, available-for-sale, Gross unrealized gains		34,128	15,399
Fixed Maturities, available-for-sale, Gross unrealized losses		(737)	(10,190)
Fixed Maturities, available-for-sale, Fair value		1,605,778	1,476,991
U.S. agency bonds – other [Member]
Schedule of Investments [Line Items]
Fixed Maturities, available-for-sale, Original or amortized cost		4,256	23,734
Fixed Maturities, available-for-sale, Gross unrealized gains		362	577
Fixed Maturities, available-for-sale, Gross unrealized losses		0	0
Fixed Maturities, available-for-sale, Fair value		4,618	24,311
Non-U.S. government and supranational bonds [Member]
Schedule of Investments [Line Items]
Fixed Maturities, available-for-sale, Original or amortized cost		35,579	35,128
Fixed Maturities, available-for-sale, Gross unrealized gains		264	0
Fixed Maturities, available-for-sale, Gross unrealized losses		(3,181)	(4,584)
Fixed Maturities, available-for-sale, Fair value		32,662	30,544
Asset-backed securities [Member]
Schedule of Investments [Line Items]
Fixed Maturities, available-for-sale, Original or amortized cost		205,534	165,719
Fixed Maturities, available-for-sale, Gross unrealized gains		7,306	1,174
Fixed Maturities, available-for-sale, Gross unrealized losses		(49)	(1,089)
Fixed Maturities, available-for-sale, Fair value		212,791	165,804
Corporate bonds [Member]
Schedule of Investments [Line Items]
Fixed Maturities, available-for-sale, Original or amortized cost		1,775,739	1,798,610
Fixed Maturities, available-for-sale, Gross unrealized gains		75,202	38,070
Fixed Maturities, available-for-sale, Gross unrealized losses		(31,688)	(97,012)
Fixed Maturities, available-for-sale, Fair value		1,819,253	1,739,668
Fixed Maturities, held-to-maturity, Original or amortized cost		759,973	607,843
Fixed Maturities, held-to-maturity, Gross unrealized gains		38,941	3,458
Fixed Maturities, held-to-maturity, Gross unrealized losses		(833)	(12,326)
Fixed Maturities, held-to-maturity, Fair value		798,081	598,975
Municipal bonds [Member]
Schedule of Investments [Line Items]
Fixed Maturities, available-for-sale, Original or amortized cost		62,195	62,177
Fixed Maturities, available-for-sale, Gross unrealized gains		5,545	2,583
Fixed Maturities, available-for-sale, Gross unrealized losses		0	0
Fixed Maturities, available-for-sale, Fair value		$ 67,740	$ 64,760

Investments - Contractual Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
HTM fixed maturities, Amortized cost
Due in one year or less	$ 0
Due after one year through five years	223,261
Due after five years through ten years	531,624
Due after ten years	5,088
Total before securities without single maturities, Amortized cost	759,973
Fixed Maturities, held-to-maturity, Amortized cost	759,973
HTM fixed maturities, Fair value
Due in one year or less	0
Due after one year through five years	226,753
Due after five years through ten years	566,140
Due after ten years	5,188
Total before securities without single maturities, Fair value	798,081
Fixed maturities, held-to-maturity securities, fair value	798,081	$ 598,975
AFS fixed maturities, Amortized cost
Due in one year or less	124,653
Due after one year through five years	483,935
Due after five years through ten years	1,260,222
Due after five years through ten years	14,142
Total before securities without single maturities, Amortized cost	1,882,952
Fixed Maturities, available-for-sale, Original or amortized cost	3,660,873	3,562,864
AFS fixed maturities, Fair value
Due in one year or less	120,322
Due after one year through five years	486,485
Due after five years through ten years	1,308,224
Due after ten years	14,742
Total before securities without single maturities, Fair value	1,929,773
Fixed Maturities, available-for-sale, Fair value	3,748,342	3,508,088
U.S. agency bonds – mortgage-backed [Member]
HTM fixed maturities, Amortized cost
Amortized cost of securities without single maturities	0
HTM fixed maturities, Fair value
Fair value of securities without single maturities	0
AFS fixed maturities, Amortized cost
Amortized cost of securities without single maturities	1,572,387
Fixed Maturities, available-for-sale, Original or amortized cost	1,572,387	1,471,782
AFS fixed maturities, Fair value
Fair value of securities without single maturities	1,605,778
Fixed Maturities, available-for-sale, Fair value	1,605,778	1,476,991
Asset-backed securities [Member]
HTM fixed maturities, Amortized cost
Amortized cost of securities without single maturities	0
HTM fixed maturities, Fair value
Fair value of securities without single maturities	0
AFS fixed maturities, Amortized cost
Amortized cost of securities without single maturities	205,534
Fixed Maturities, available-for-sale, Original or amortized cost	205,534	165,719
AFS fixed maturities, Fair value
Fair value of securities without single maturities	212,791
Fixed Maturities, available-for-sale, Fair value	$ 212,791	$ 165,804

Investments - Fair Value and Unrealized Losses (Details) $ in Thousands	Sep. 30, 2016 USD ($) security	Dec. 31, 2015 USD ($) security
Fixed maturities, Fair value
Less than 12 Months, Fair value	$ 207,700	$ 1,294,157
12 Months or More, Fair value	437,528	592,418
Total, Fair value	645,228	1,886,575
Fixed maturities, Unrealized losses
Less than 12 months, Unrealized losses	(1,668)	(46,935)
12 months or more, Unrealized losses	(34,820)	(78,282)
Total, Unrealized losses	$ (36,488)	(125,217)
Investments, Fair Value
Less than 12 Months, Fair value		1,299,062
12 Months or More, Fair value		592,418
Total, Fair value		1,891,480
Investments, Unrealized losses
Less than 12 months, Unrealized losses		(47,030)
12 months or more, Unrealized losses		(78,282)
Total, Unrealized losses		$ (125,312)
Number of securities in an unrealized loss position \| security	132	270
Number of securities in an unrealized loss position for 12 months or greater \| security	94	93
U.S. treasury bonds [Member]
Fixed maturities, Fair value
Less than 12 Months, Fair value		$ 1,119
12 Months or More, Fair value		0
Total, Fair value		1,119
Fixed maturities, Unrealized losses
Less than 12 months, Unrealized losses		(16)
12 months or more, Unrealized losses		0
Total, Unrealized losses		(16)
U.S. agency bonds – mortgage-backed [Member]
Fixed maturities, Fair value
Less than 12 Months, Fair value	$ 13,029	443,331
12 Months or More, Fair value	54,566	170,053
Total, Fair value	67,595	613,384
Fixed maturities, Unrealized losses
Less than 12 months, Unrealized losses	(27)	(4,113)
12 months or more, Unrealized losses	(710)	(6,077)
Total, Unrealized losses	(737)	(10,190)
Non-U.S. government and supranational bonds [Member]
Fixed maturities, Fair value
Less than 12 Months, Fair value	1,081	6,958
12 Months or More, Fair value	27,645	22,586
Total, Fair value	28,726	29,544
Fixed maturities, Unrealized losses
Less than 12 months, Unrealized losses	(41)	(365)
12 months or more, Unrealized losses	(3,140)	(4,219)
Total, Unrealized losses	(3,181)	(4,584)
Asset-backed securities [Member]
Fixed maturities, Fair value
Less than 12 Months, Fair value	21,746	89,838
12 Months or More, Fair value	0	0
Total, Fair value	21,746	89,838
Fixed maturities, Unrealized losses
Less than 12 months, Unrealized losses	(49)	(1,089)
12 months or more, Unrealized losses	0	0
Total, Unrealized losses	(49)	(1,089)
Corporate bonds [Member]
Fixed maturities, Fair value
Less than 12 Months, Fair value	171,844	752,911
12 Months or More, Fair value	355,317	399,779
Total, Fair value	527,161	1,152,690
Fixed maturities, Unrealized losses
Less than 12 months, Unrealized losses	(1,551)	(41,352)
12 months or more, Unrealized losses	(30,970)	(67,986)
Total, Unrealized losses	$ (32,521)	(109,338)
Other investments [Member]
Investments, Fair Value
Less than 12 Months, Fair value		4,905
12 Months or More, Fair value		0
Total, Fair value		4,905
Investments, Unrealized losses
Less than 12 months, Unrealized losses		(95)
12 months or more, Unrealized losses		0
Total, Unrealized losses		$ (95)

Investments - Credit Ratings (Details) - USD ($)	3 Months Ended		9 Months Ended
Investments - Credit Ratings (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Schedule of Fixed Maturities Table [Line Items]
OTTI	$ 0	$ 1,060,000	$ 0	$ 1,060,000
Fixed Maturities, Amortized cost	4,420,846,000		4,420,846,000		$ 4,170,707,000
Fixed Maturities, Fair value	$ 4,546,423,000		$ 4,546,423,000		$ 4,107,063,000
Fixed maturities, % of Total fair value	100.00%		100.00%		100.00%
AAA [Member]
Schedule of Fixed Maturities Table [Line Items]
Fixed Maturities, Amortized cost	$ 164,038,000		$ 164,038,000		$ 170,190,000
Fixed Maturities, Fair value	$ 173,127,000		$ 173,127,000		$ 170,391,000
Fixed maturities, % of Total fair value	3.80%		3.80%		4.10%
AA Plus, AA, AA Minus [Member]
Schedule of Fixed Maturities Table [Line Items]
Fixed Maturities, Amortized cost	$ 244,901,000		$ 244,901,000		$ 222,506,000
Fixed Maturities, Fair value	$ 255,882,000		$ 255,882,000		$ 223,084,000
Fixed maturities, % of Total fair value	5.60%		5.60%		5.40%
A Plus, A, A Minus [Member]
Schedule of Fixed Maturities Table [Line Items]
Fixed Maturities, Amortized cost	$ 1,300,659,000		$ 1,300,659,000		$ 1,075,550,000
Fixed Maturities, Fair value	$ 1,344,515,000		$ 1,344,515,000		$ 1,066,794,000
Fixed maturities, % of Total fair value	29.60%		29.60%		26.00%
BBB Plus, BBB, BBB Minus [Member]
Schedule of Fixed Maturities Table [Line Items]
Fixed Maturities, Amortized cost	$ 964,197,000		$ 964,197,000		$ 1,077,064,000
Fixed Maturities, Fair value	$ 990,817,000		$ 990,817,000		$ 1,039,228,000
Fixed maturities, % of Total fair value	21.80%		21.80%		25.30%
BB Plus or Lower [Member]
Schedule of Fixed Maturities Table [Line Items]
Fixed Maturities, Amortized cost	$ 165,225,000		$ 165,225,000		$ 124,167,000
Fixed Maturities, Fair value	$ 166,186,000		$ 166,186,000		$ 100,254,000
Fixed maturities, % of Total fair value	3.70%		3.70%		2.50%
U.S. treasury bonds [Member]
Schedule of Fixed Maturities Table [Line Items]
Fixed Maturities, Amortized cost	$ 5,183,000		$ 5,183,000		$ 5,714,000
Fixed Maturities, Fair value	$ 5,500,000		$ 5,500,000		$ 6,010,000
Fixed maturities, % of Total fair value	0.10%		0.10%		0.10%
U.S. agency bonds [Member]
Schedule of Fixed Maturities Table [Line Items]
Fixed Maturities, Amortized cost	$ 1,576,643,000		$ 1,576,643,000		$ 1,495,516,000
Fixed Maturities, Fair value	$ 1,610,396,000		$ 1,610,396,000		$ 1,501,302,000
Fixed maturities, % of Total fair value	35.40%		35.40%		36.60%

Investments - Other Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Other investments	$ 12,268	$ 11,812
% of Total fair value	100.00%	100.00%
Investment in quoted equity [Member]
Schedule of Investments [Line Items]
Other investments	$ 5,560	$ 4,905
% of Total fair value	45.30%	41.50%
Investments in limited partnerships [Member]
Schedule of Investments [Line Items]
Other investments	$ 5,708	$ 5,907
% of Total fair value	46.50%	50.00%
Unfunded commitment on investments in limited partnerships	$ 525
Other [Member]
Schedule of Investments [Line Items]
Other investments	$ 1,000	$ 1,000
% of Total fair value	8.20%	8.50%

Investments - Net Realized and Unrealized Gains on Investment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Gain (Loss) on Investments [Line Items]
Gross gains	$ 1,900	$ 1,216	$ 5,402	$ 2,327
Gross losses	0	0	(891)	0
Realized gains, Net	1,900	1,216	4,511	2,327
Proceeds from sales of fixed maturities classified as available-for-sale	15,260	29,595	101,923	116,093
Net unrealized gains	101,604		101,604		$ (54,028)
Deferred income tax expense	(114)		(114)		(84)
Net unrealized gains, net of deferred income tax	101,490		101,490		(54,112)
Change in net unrealized gains, net of deferred income tax			155,602
Fixed Maturities [Member]
Gain (Loss) on Investments [Line Items]
Net unrealized gains	100,196		100,196		(55,024)
Available-for-sale securities [Member] \| Fixed Maturities [Member]
Gain (Loss) on Investments [Line Items]
Gross gains	1,813	1,216	4,953	2,264
Gross losses	0	0	(891)	0
Realized gains, Net	1,813	$ 1,216	4,062	2,264
Other investments [Member]
Gain (Loss) on Investments [Line Items]
Gross gains	87		449	63
Gross losses	0		0	0
Realized gains, Net	87		449	$ 63
Net unrealized gains	$ 1,408		$ 1,408		$ 996

Investments - Restricted Cash and Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Restricted Cash and Investments Items [Line Items]
Restricted cash and cash equivalents	$ 366,563	$ 242,859
Restricted investments	4,070,682	3,425,585
Restricted cash and investments	4,437,245	3,668,444
Amortized cost	4,431,706	4,181,523
Third party agreements [Member]
Restricted Cash and Investments Items [Line Items]
Restricted cash and cash equivalents	112,038	102,837
Restricted investments	1,256,528	1,067,602
Amortized cost	1,233,629	1,081,202
Related party agreements [Member]
Restricted Cash and Investments Items [Line Items]
Restricted cash and cash equivalents	254,433	139,944
Restricted investments	2,011,761	1,754,705
Amortized cost	1,969,268	1,781,178
HTM related party agreements [Member]
Restricted Cash and Investments Items [Line Items]
Restricted investments	798,081	598,975
Amortized cost	759,973	607,843
US state regulatory authorities [Member]
Restricted Cash and Investments Items [Line Items]
Restricted cash and cash equivalents	92	78
Restricted investments	4,312	4,303
Amortized cost	$ 4,055	$ 4,071

Fair Value of Financial Instruments - Changes in Level 3 Financial Instruments (Details) - Other investments [Member] - Fair Value, Measurements, Recurring [Member] - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 6,562	$ 6,906	$ 6,907	$ 6,581
Total realized gains – included in net realized gains on investment	87	0	449	63
Change in total unrealized gains – included in other comprehensive income (loss)	29	161	(243)	353
Purchases	75	0	167	144
Redemptions	(45)	(270)	(572)	(344)
Balance at end of period	$ 6,708	$ 6,797	$ 6,708	$ 6,797

Fair Value of Financial Instruments - Fair Value of Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	$ 4,558,691	$ 4,118,875
Carrying Value [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	759,973	607,843
Financial Liabilities	362,500	360,000
Fair Value [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	798,081	598,975
Financial Liabilities	381,755	381,208
Senior Notes [Member] \| Carrying Value [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| MHNA - 8.25% [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	$ 0	107,500
Stated interest rate	8.25%
Senior Notes [Member] \| Carrying Value [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| MHNB - 8.00% [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	$ 100,000	100,000
Stated interest rate	8.00%
Senior Notes [Member] \| Carrying Value [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| MHNC - 7.75% [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	$ 152,500	152,500
Stated interest rate	7.75%
Senior Notes [Member] \| Carrying Value [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| MHLA - 6.625% [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	$ 110,000	0
Stated interest rate	6.625%
Senior Notes [Member] \| Fair Value [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| MHNA - 8.25% [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	$ 0	110,424
Senior Notes [Member] \| Fair Value [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| MHNB - 8.00% [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	102,608	105,328
Senior Notes [Member] \| Fair Value [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| MHNC - 7.75% [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	164,395	165,456
Senior Notes [Member] \| Fair Value [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| MHLA - 6.625% [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	114,752	0
Corporate bonds [Member] \| Held-to-maturity securities [Member] \| Carrying Value [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	759,973	607,843
Corporate bonds [Member] \| Held-to-maturity securities [Member] \| Fair Value [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	$ 798,081	$ 598,975

Long-Term Debt - Narrative (Details) - USD ($)		3 Months Ended		9 Months Ended
Long-Term Debt - Narrative (Details) - USD ($)	Jun. 15, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Jun. 14, 2016
Debt Instrument [Line Items]
Accelerated amortization of remaining debt issuance costs	$ 2,345,000	$ 0	$ 0	$ 2,345,000	$ 0
Senior Notes [Member] \| 2016 Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount		$ 110,000,000		$ 110,000,000		$ 110,000,000
Stated interest rate		6.625%		6.625%		6.625%
Senior Notes [Member] \| 2011 Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount	$ 107,500,000
Redemption price percentage	100.00%

Long-Term Debt - Schedule of Outstanding Senior Notes Issuances (Details) - Senior Notes [Member] - USD ($)	9 Months Ended
	Sep. 30, 2016	Jun. 14, 2016
2012 Senior Notes [Member]
Debt Instrument [Line Items]
Principal	$ 100,000,000
Debt Issuance Costs	3,406,000
Net Proceeds	96,594,000
Unamortized debt issuance costs	$ 2,894,000
Coupon rate	8.00%
Effective interest rate	8.31%
2013 Senior Notes [Member]
Debt Instrument [Line Items]
Principal	$ 152,500,000
Debt Issuance Costs	5,054,000
Net Proceeds	147,446,000
Unamortized debt issuance costs	$ 4,574,000
Coupon rate	7.75%
Effective interest rate	8.04%
2016 Senior Notes [Member]
Debt Instrument [Line Items]
Principal	$ 110,000,000	$ 110,000,000
Debt Issuance Costs	3,715,000
Net Proceeds	106,285,000
Unamortized debt issuance costs	$ 3,704,000
Coupon rate	6.625%	6.625%
Effective interest rate	7.07%

Related Party Transactions - AmTrust (Details)										3 Months Ended		9 Months Ended		12 Months Ended
Related Party Transactions - AmTrust (Details)	Jul. 01, 2016	May 01, 2015	Apr. 01, 2012 USD ($)	Jan. 01, 2012 EUR (€)	Apr. 01, 2011 EUR (€)	Mar. 01, 2011	Sep. 01, 2010	Jun. 11, 2008	Jul. 01, 2007 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Dec. 31, 2015 USD ($)
Related Party Transaction [Line Items]
Net premiums earned										$ 698,278,000	$ 658,520,000	$ 1,951,851,000	$ 1,845,259,000
Loan to related party										167,975,000		167,975,000		$ 167,975,000
National General Holdings Corp. [Member] \| NGHC Subsidiaries Reinsurance Agreement [Member]
Related Party Transaction [Line Items]
Cancellation notice period		60 days
Net premiums earned										$ 136,000	19,000	$ 295,000	22,000
Founding Shareholders [Member]
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage										17.40%		17.40%
AmTrust Financial Services, Inc. [Member]
Related Party Transaction [Line Items]
Loan to related party										$ 167,975,000		$ 167,975,000		167,975,000
AmTrust Financial Services, Inc. [Member] \| AmTrust Quota Share Reinsurance Agreement [Member]
Related Party Transaction [Line Items]
Percent of premiums written, net of cost of unaffiliated inuring reinsurance from related party									40.00%
Percent of losses with respect to current lines of business, excluding those above covered business threshold to related party									40.00%
Commission rate, percent of ceded written premiums								34.375%	31.00%
Contract extension	3 years
Cancellation notice period	9 months
Cancellation notice period upon the occurrence of certain early termination events	30 days
Early termination events, reduction threshold of stockholders' equity	50.00%
Consideration paid for agreement to commute certain liabilities including unearned premiums and loss reserves														107,000,000
AmTrust Financial Services, Inc. [Member] \| AmTrust Quota Share Reinsurance Agreement [Member] \| Minimum [Member]
Related Party Transaction [Line Items]
Commission rate, adjustment criteria, loss ratio floor									81.50%
AmTrust Financial Services, Inc. [Member] \| AmTrust Quota Share Reinsurance Agreement [Member] \| Maximum [Member]
Related Party Transaction [Line Items]
Commission rate, adjustment criteria, loss ratio ceiling									95.00%
AmTrust Financial Services, Inc. [Member] \| AmTrust European Hospital Liability Quota Share Agreement [Member]
Related Party Transaction [Line Items]
Commission rate, percent of ceded written premiums					5.00%
Related party transaction, termination notice period												4 months
Premiums and losses related to policies	32.50%				40.00%
Future premiums and losses related to policies	20.00%
Maximum limit of liability attaching \| €				€ 10,000	€ 5,000
Percent basis currency equivalent of maximum limit of liability attaching					100.00%
AmTrust Financial Services, Inc. [Member] \| AmTrust Technology Reinsurance Agreement [Member]
Related Party Transaction [Line Items]
Commission rate, percent of ceded written premiums							5.00%
Percent of credit insurance business to cede							90.00%
Percent of general liability business to cede							100.00%
AmTrust Financial Services, Inc. [Member] \| AmTrust NA Reinsurance Agreement [Member]
Related Party Transaction [Line Items]
Agreement period			1 year
Net premiums earned										305,000	154,000	$ 745,000	483,000
Reinsurance coverage threshold			$ 1,000,000
AmTrust Financial Services, Inc. [Member] \| Reinsurer Trust Assets Collateral Agreement [Member]
Related Party Transaction [Line Items]
Collateral held by related party										2,805,607,000		2,805,607,000		2,256,383,000
Accrued interest on collateral held by related party										$ 18,400,000		$ 18,400,000		15,448,000
AmTrust Financial Services, Inc. [Member] \| Reinsurance Brokerage Agreements [Member]
Related Party Transaction [Line Items]
Cancellation notice period									30 days
Brokerage fee, percent of premium assumed									1.25%
AmTrust Financial Services, Inc. [Member] \| Asset Management Agreement [Member]
Related Party Transaction [Line Items]
Cancellation notice period									30 days
Quarterly brokerage fee, portfolio threshold									$ 1,000,000,000
Quarterly brokerage fee, above portfolio threshold, percent of average holdings									0.0375%
AmTrust Financial Services, Inc. [Member] \| AmTrust Time Sharing Agreement [Member]
Related Party Transaction [Line Items]
Contract extension						1 year
AmTrust Financial Services, Inc. [Member] \| Founding Shareholders [Member]
Related Party Transaction [Line Items]
Controlling interest, ownership percentage										49.30%		49.30%
National General Holdings Corp. [Member] \| AmTrust Financial Services, Inc. [Member]
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage										11.60%		11.60%
National General Holdings Corp. [Member] \| Michael Karfunkel 2005 Grantor Retained Annuity Trust [Member]
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage										43.00%		43.00%
London Interbank Offered Rate (LIBOR) [Member] \| AmTrust Financial Services, Inc. [Member]
Related Party Transaction [Line Items]
Loan to related party, Basis spread on LIBOR										0.90%		0.90%
Commission Expense [Member] \| AmTrust Financial Services, Inc. [Member] \| Quota Share Reinsurance Agreements [Member]
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										$ 163,336,000	141,348,000	$ 447,767,000	389,501,000
Commission Expense [Member] \| AmTrust Financial Services, Inc. [Member] \| AmTrust Technology Reinsurance Agreement [Member]
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										0	0	1,000	3,000
Commission Expense [Member] \| AmTrust Financial Services, Inc. [Member] \| AmTrust NA Reinsurance Agreement [Member]
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										87,000	35,000	187,000	117,000
Premiums Earned [Member] \| AmTrust Financial Services, Inc. [Member] \| AmTrust Technology Reinsurance Agreement [Member]
Related Party Transaction [Line Items]
Revenue from related parties										0	14,000	12,000	59,000
Brokerage Expense [Member] \| AmTrust Financial Services, Inc. [Member] \| Reinsurance Brokerage Agreements [Member]
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										6,652,000	5,854,000	18,330,000	16,161,000
Reserve for loss and loss adjustment expenses										15,051,000		15,051,000		$ 13,464,000
Investment Management Fees [Member] \| AmTrust Financial Services, Inc. [Member] \| Asset Management Agreement [Member]
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										1,780,000	1,518,000	5,122,000	4,455,000
Aircraft Expenses [Member] \| AmTrust Financial Services, Inc. [Member] \| AmTrust Time Sharing Agreement [Member]
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										$ 22,000	$ 20,000	$ 61,000	$ 70,000

Related Party Transactions - NGHC (Details) - USD ($)				3 Months Ended		9 Months Ended
Related Party Transactions - NGHC (Details) - USD ($)	May 01, 2015	Apr. 01, 2015	Mar. 01, 2010	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Related Party Transaction [Line Items]
Premiums earned				$ 698,278,000	$ 658,520,000	$ 1,951,851,000	$ 1,845,259,000
National General Holdings Corp. [Member] \| NGHC Quota Share Reinsurance Agreement [Member]
Related Party Transaction [Line Items]
Percent participation in quota share by subsidiary			50.00%
Percentage of net premiums received on personal lines automobile business			25.00%
Percent of net losses related to premiums of personal lines business assumed by reinsurers			25.00%
National General Holdings Corp. [Member] \| NGHC Quota Share Reinsurance Agreement [Member] \| Commission Expense [Member]
Related Party Transaction [Line Items]
Expenses recorded from related party transactions				0	0	0	0
National General Holdings Corp. [Member] \| NGHC Subsidiaries Reinsurance Agreement [Member]
Related Party Transaction [Line Items]
Premiums earned				136,000	19,000	295,000	22,000
Cancellation notice period	60 days
National General Holdings Corp. [Member] \| NGHC Subsidiaries Reinsurance Agreement [Member] \| Medical Excess of Loss Reinsurance Agreement [Member]
Related Party Transaction [Line Items]
Reinsurance coverage threshold	$ 1,000,000
Reinsurance coverage limit	4,000,000
Maximum limit of liability	2,000,000	$ 2,000,000
Premiums earned				$ 0	$ 218,000	157,000	$ 328,000
National General Holdings Corp. [Member] \| NGHC Subsidiaries Reinsurance Agreement [Member] \| Medical Excess of Loss Reinsurance Agreement [Member] \| Layer 1 [Member]
Related Party Transaction [Line Items]
Liability percentage		100.00%
Reinsurance coverage threshold	1,000,000					1,175,000
Reinsurance coverage limit	1,000,000					$ 8,825,000
National General Holdings Corp. [Member] \| NGHC Subsidiaries Reinsurance Agreement [Member] \| Medical Excess of Loss Reinsurance Agreement [Member] \| Layer 2 [Member]
Related Party Transaction [Line Items]
Reinsurance coverage threshold	2,000,000
Reinsurance coverage limit	3,000,000
National General Holdings Corp. [Member] \| NGHC Subsidiaries Reinsurance Agreement [Member] \| Medical Excess of Loss Reinsurance Agreement [Member] \| Layer 3 [Member]
Related Party Transaction [Line Items]
Reinsurance coverage threshold	5,000,000
Reinsurance coverage limit	$ 5,000,000

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Sep. 15, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income attributable to Maiden shareholders		$ 40,852	$ 28,584	$ 117,678	$ 93,676
Dividends on preference shares		(9,023)	(6,085)	(27,723)	(18,253)
Amount allocated to participating common shareholders		(19)	(17)	(55)	(59)
Numerator for basic EPS - net income allocated to Maiden common shareholders		31,810	22,482	89,900	75,364
Dividends on convertible preference shares - Series B		2,991	2,991	8,971	8,971
Numerator for diluted EPS - net income allocated to Maiden common shareholders after assumed conversion		$ 34,801	$ 25,473	$ 98,871	$ 84,335
Weighted average number of common shares outstanding – basic (in shares)		75,993,451	73,638,980	74,625,839	73,403,998
Potentially dilutive securities:
Share options and restricted share units (in shares)		1,100,206	1,294,767	1,085,740	1,272,746
Convertible preference shares (in shares)		9,057,294	10,809,258	10,306,440	10,809,258
Adjusted weighted average number of common shares and assumed conversions – diluted (in shares)		86,150,951	85,743,005	86,018,019	85,486,002
Basic earnings per share attributable to Maiden common shareholders (in dollars per share)		$ 0.42	$ 0.31	$ 1.20	$ 1.03
Diluted earnings per share attributable to Maiden common shareholders (in dollars per share)		$ 0.40	$ 0.30	$ 1.15	$ 0.99
Series A Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dividends on preference shares		$ (3,094)	$ (3,094)	$ (9,282)	$ (9,282)
Series B Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dividends on preference shares		(2,991)	(2,991)	(8,971)	(8,971)
Potentially dilutive securities:
Mandatory conversion of Preference Shares - Series B	$ 165,000
Number of shares converted (in shares)	12,069,090
Common shares issued per convertible preference share (in shares)	3.6573
Series C Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dividends on preference shares		$ (2,938)	$ 0	$ (9,470)	$ 0

Shareholders' Equity - Narrative (Details) - $ / shares	Sep. 15, 2016	Mar. 10, 2016	Feb. 17, 2016	Feb. 15, 2016	Jan. 01, 2016	Sep. 30, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Common stock, shares authorized (in shares)						150,000,000
Common stock, shares issued (in shares)						87,178,902	74,735,785
Common stock, shares outstanding (in shares)						86,128,999	73,721,140
Preference shares issued (in shares)						12,600,000
Undesignated shares (in shares)						50,221,098
Shares repurchased (in shares)		20,469,000	1,183,000	10,255	3,351
Shares repurchased, price per share (in dollars per share)		$ 13.16	$ 13.36	$ 13.16	$ 14.91
Series B Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Number of shares converted (in shares)	12,069,090
Common shares issued per convertible preference share (in shares)	3.6573

Shareholders' Equity - AOCI Components (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			$ 1,349,099
Other comprehensive income (loss) before reclassifications	$ 6,169	$ (17,914)	147,097	$ (72,327)
Amounts reclassified from AOCI to net income, net of tax	(1,202)	(11)	578	(5)
Other comprehensive income (loss), after tax	4,967	(17,925)	147,675	(72,332)
Ending balance	1,556,359	1,221,782	1,556,359	1,221,782
Change in net unrealized gains on investments [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	93,793	15,115	(54,112)	78,579
Other comprehensive income (loss) before reclassifications	8,899	(17,173)	155,024	(80,643)
Amounts reclassified from AOCI to net income, net of tax	(1,202)	(11)	578	(5)
Other comprehensive income (loss), after tax	7,697	(17,184)	155,602	(80,648)
Ending balance	101,490	(2,069)	101,490	(2,069)
Foreign currency translation adjustments [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	25,034	25,722	30,231	16,665
Other comprehensive income (loss) before reclassifications	(2,730)	(741)	(7,927)	8,316
Amounts reclassified from AOCI to net income, net of tax	0	0	0	0
Other comprehensive income (loss), after tax	(2,730)	(741)	(7,927)	8,316
Ending balance	22,304	24,981	22,304	24,981
AOCI including portion attributable to noncontrolling interest [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	118,827	40,837	(23,881)	95,244
Ending balance	123,794	22,912	123,794	22,912
Change in net unrealized gains on investment attributable to noncontrolling interest [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Ending balance	0	0	0	0
Foreign currency translation adjustments attributable to noncontrolling interest [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Ending balance	(82)	(95)	(82)	(95)
AOCI attributable to noncontrolling interest [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Ending balance	(82)	(95)	(82)	(95)
Accumulated other comprehensive income [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			(23,767)	95,293
Ending balance	123,876	23,007	123,876	23,007
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Ending balance	101,490	(2,069)	101,490	(2,069)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Ending balance	$ 22,386	$ 25,076	$ 22,386	$ 25,076

Subsequent Events (Details) - $ / shares			3 Months Ended		9 Months Ended
Subsequent Events (Details) - $ / shares	Nov. 01, 2016	Aug. 03, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)		$ 0.14	$ 0.14	$ 0.13	$ 0.42	$ 0.39
Subsequent event [Member]
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)	$ 0.15
Subsequent event [Member] \| Series A Preferred Stock [Member]
Subsequent Event [Line Items]
Dividends declared per Preference share (in dollars per share)	0.515625
Subsequent event [Member] \| Series C Preferred Stock [Member]
Subsequent Event [Line Items]
Dividends declared per Preference share (in dollars per share)	$ 0.445313

Fair Value of Financial Instruments - Fair Value Hierarchy (Details) $ in Thousands	Sep. 30, 2016 USD ($) security	Dec. 31, 2015 USD ($) security
Significant Other Observable Inputs (Level 2) [Member] \| Fixed Maturities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of securities priced for fair value \| security	2	2
Securities valued using market approach	$ 5,451	$ 4,943
Fair Value, Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments, fair value	5,560	4,905
Total	$ 11,060	$ 10,915
Percentage of total assets	0.20%	0.20%
Fair Value, Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| U.S. treasury bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	$ 5,500	$ 6,010
Fair Value, Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| U.S. agency bonds – mortgage-backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| U.S. agency bonds – other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Non-U.S. government and supranational bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Corporate bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Municipal bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments, fair value	0	0
Total	$ 3,742,842	$ 3,502,078
Percentage of total assets	57.90%	61.40%
Fair Value, Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| U.S. treasury bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	$ 0	$ 0
Fair Value, Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| U.S. agency bonds – mortgage-backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	1,605,778	1,476,991
Fair Value, Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| U.S. agency bonds – other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	4,618	24,311
Fair Value, Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Non-U.S. government and supranational bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	32,662	30,544
Fair Value, Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	212,791	165,804
Fair Value, Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Corporate bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	1,819,253	1,739,668
Fair Value, Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Municipal bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	67,740	64,760
Fair Value, Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments, fair value	6,708	6,907
Total	$ 6,708	$ 6,907
Percentage of total assets	0.10%	0.10%
Fair Value, Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| U.S. treasury bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	$ 0	$ 0
Fair Value, Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| U.S. agency bonds – mortgage-backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| U.S. agency bonds – other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Non-U.S. government and supranational bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Corporate bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Municipal bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring [Member] \| Total Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments, fair value	12,268	11,812
Total	$ 3,760,610	$ 3,519,900
Percentage of total assets	58.20%	61.70%
Fair Value, Measurements, Recurring [Member] \| Total Fair Value [Member] \| Fixed Maturities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, valued by third party, percentage	99.90%	99.90%
Assets, valued using market approach, percentage	0.10%	0.10%
Fair Value, Measurements, Recurring [Member] \| Total Fair Value [Member] \| U.S. treasury bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	$ 5,500	$ 6,010
Fair Value, Measurements, Recurring [Member] \| Total Fair Value [Member] \| U.S. agency bonds – mortgage-backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	1,605,778	1,476,991
Fair Value, Measurements, Recurring [Member] \| Total Fair Value [Member] \| U.S. agency bonds – other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	4,618	24,311
Fair Value, Measurements, Recurring [Member] \| Total Fair Value [Member] \| Non-U.S. government and supranational bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	32,662	30,544
Fair Value, Measurements, Recurring [Member] \| Total Fair Value [Member] \| Asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	212,791	165,804
Fair Value, Measurements, Recurring [Member] \| Total Fair Value [Member] \| Corporate bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	1,819,253	1,739,668
Fair Value, Measurements, Recurring [Member] \| Total Fair Value [Member] \| Municipal bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	$ 67,740	$ 64,760

Commitments and Contingencies (Details) - $ / shares		3 Months Ended		9 Months Ended
Commitments and Contingencies (Details) - $ / shares	Aug. 03, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.14	$ 0.14	$ 0.13	$ 0.42	$ 0.39