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Employee Share-Based Incentive Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2012

Employee Share-Based Incentive Compensation Plans

Summary of performance share activity

		Three Months Ended March 31,
		2012					2011
Millions, except share amounts		Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense
Beginning of period		150,064		$	66.1		163,184		$	29.4
Shares paid or expired (1)		(68,357	)	(48.4		)	(51,131	)	—
New grants		35,932		—			37,425		—
Assumed forfeitures and cancellations (2)		811		1.0			342		(.1		)
Expense recognized		—		8.7			—		6.3
Ending March 31,		118,450		$	27.4		149,820		$	35.6

(1) WTM performance share payments in 2012 for the 2009-2011 performance cycle ranged from 147% to 155% of target. There were no payments made in 2011 for the 2008-2010 performance cycle; those performance shares did not meet the threshold performance goals and expired.

(2) Amounts include changes in assumed forfeitures, as required under GAAP.

Summary of performance shares outstanding and accrued expense for performance shares awarded under the WTM Incentive Plan

		Target WTM
		Performance
		Shares		Accrued
Millions, except share amounts		Outstanding		Expense
Performance cycle:
2010 – 2012		42,890		$	15.4
2011 – 2013		37,675		8.9
2012 – 2014		35,932		1.7
Sub-total		116,497		26.0
Assumed forfeitures		(2,912	)	(.7		)
Total at March 31, 2012		113,585		$	25.3

Summary of performance shares outstanding and accrued expense for performance shares awarded under the Phantom Plan

		Target WTM
		Phantom
		Performance
		Shares		Accrued
Millions, except share amounts		Outstanding		Expense
Performance cycle:
2010 – 2012		4,990		$	2.1
2011 – 2013(1)		—		—
2012 – 2014(1)		—		—
Sub-total		4,990		2.1
Assumed forfeitures		(125	)	—
Total at March 31, 2012,		4,865		$	2.1

(1) All performance shares for the 2011-2013 and 2012-2014 performance cycles were granted from the WTM Incentive Plan

Summary of restricted share activity

		Three Months Ended March 31,
		2012					2011
Millions, except share amounts		Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value
Non-vested,
Beginning of period		72,000		$	13.3		46,250		$	14.1
Issued		28,460		13.7			27,000		9.8
Vested		(7,000	)	—			—		—
Forfeited		—		—			—		—
Expense recognized		—		(2.5		)	—		(2.2		)
Non-vested at March 31,		93,460		$	24.5		73,250		$	21.7

Summary of performance share activity for OneBeacon performance shares granted under OneBeacon Incentive Plan

		Three Months Ended March 31,
		2012					2011
		Target					Target
		Performance					Performance
		Shares		Accrued			Shares		Accrued
Millions, except share amounts		Outstanding		Expense			Outstanding		Expense
Beginning of period		642,667		$	9.7		1,464,295		$	18.5
Payments and deferrals (1)(2)		(249,733	)	(7.5		)	(936,150	)	(10.5		)
New awards		181,290		—			194,900		—
Assumed forfeitures and cancellations (3)		(4,479	)	—			(4,873	)	—
Expense recognized		—		1.0			—		.4
Ending March 31,		569,745		$	3.2		718,172		$	8.4

(1) OneBeacon performance share payments in 2012 for the 2009-2011 performance cycle were at 138.6% of target. OneBeacon performance shares payments in 2011 for the 2008-2010 performance cycle were at 68.5% of target. Amounts include deposits into OneBeacon’s deferred compensation plan.

(2) OneBeacon performance share payments also include accelerated payments resulting from the OneBeacon Personal Lines and Commercial Lines Transactions. The accelerated OneBeacon performance shares payments for the 2009-2011 and 2010-2012 performance cycles were on a pro rata basis and at a performance factor of 100%.

(3) Amounts include changes in assumed forfeitures, as required under GAAP.

Summary of OneBeacon performance shares outstanding and accrued expense for OneBeacon performance shares awarded under the OneBeacon Incentive Plan

		Target OneBeacon
		Performance
		Shares		Accrued
Millions, except share amounts		Outstanding		Expense
Performance cycle:
2009 – 2011		9,168		$	.3
2010 – 2012		242,098		1.6
2011 – 2013		151,563		1.1
2012 – 2014		181,290		.3
Sub-total		584,119		3.3
Assumed forfeitures		(14,374	)	(.1		)
Total at March 31, 2012		569,745		$	3.2

Summary of OneBeacon Restricted Shares activity

		Three Months Ended March 31,
		March 31, 2012
Millions, except share amounts		Restricted Shares		Unamortized Issue Date Fair Value
Non-vested,
Beginning of period		630,000		$	7.7
Issued		300,000		4.6
Vested		—		—
Forfeited		—		—
Expense recognized		—		(.4		)
Non-vested at March 31,		930,000		$	11.9

Summary of OneBeacon option activity

		Three Months Ended March 31,
		2012					2011
Millions, except share amounts		Target Options Outstanding		Expense Amortized			Target Options Outstanding		Expense Amortized
Beginning of period		740,870		$	5.0		768,652		$	4.5
New awards		—		—			—		—
Forfeitures and cancellations		—		—			—		—
Vested and expired		—		—			—		—
Exercised		—		—			—		—
Expense recognized		—		—			—		.1
Ending March 31,		740,870		$	5.0		768,652		$	4.6