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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2017
Dec. 31, 2016
Investments:    
Fixed income securities, available for sale at fair value (amortized cost — $5,617.9 and $5,620.1) $ 5,664.4 $ 5,664.6
Fixed income securities, trading at fair value (amortized cost — $1,301.7 and $1,264.8) 1,313.2 1,265.7
Equity securities, trading at fair value (cost — $563.2 and $554.3) 623.6 584.7
Short-term investments, available for sale at fair value (amortized cost — $163.5 and $145.3) 163.5 145.3
Short-term investments, trading at fair value (amortized cost — $184.7 and $185.4) 184.6 185.4
Catastrophe bonds, trading at fair value (cost — $41.8 and $42.5) 41.8 42.5
Other investments, equity method 5.0 12.1
Total investments 7,996.1 7,900.3
Cash and cash equivalents (including $160.9 and $291.3 within consolidated variable interest entities) 873.1 1,273.8
Reinsurance recoverables    
Unpaid losses 635.8 560.7
Ceded unearned premiums 404.8 255.2
Receivables    
Underwriting premiums 1,557.8 1,399.4
Other 120.7 95.5
Funds withheld 90.4 73.1
Deferred policy acquisition costs 367.5 358.4
Derivatives at fair value 5.2 7.2
Receivables for securities sold 25.7 1.6
Office properties and equipment 86.1 83.8
Tax recoverable 3.1 0.5
Other assets 1.0 1.0
Intangible assets and goodwill 80.5 79.6
Total assets 12,247.8 12,090.1
Insurance reserves    
Losses and loss adjustment expenses 5,365.9 5,319.9
Unearned premiums 1,891.8 1,618.6
Total insurance reserves 7,257.7 6,938.5
Payables    
Reinsurance premiums 362.9 345.3
Deferred taxation 7.1 6.1
Accrued expenses and other payables 361.8 469.2
Liabilities under derivative contracts 4.3 18.4
Total payables 736.1 839.0
Loan notes issued by variable interest entities, at fair value 110.2 115.0
Long-term debt 549.4 549.3
Total liabilities 8,653.4 8,441.8
Commitments and contingent liabilities (see Note 16) 0.0 0.0
SHAREHOLDERS’ EQUITY    
Ordinary shares, value 0.1 0.1
Preference shares:    
Non-controlling interest 1.5 1.4
Additional paid-in capital 1,142.1 1,259.6
Retained earnings 2,465.4 2,392.3
Accumulated other comprehensive income, net of taxes (14.7) (5.1)
Total shareholders’ equity 3,594.4 3,648.3
Total liabilities and shareholders’ equity 12,247.8 12,090.1
5.95% preference shares    
Preference shares:    
Preference shares, value 0.0 0.0
7.401% preference shares    
Preference shares:    
Preference shares, value 0.0 0.0
7.250% preference shares    
Preference shares:    
Preference shares, value 0.0 0.0
5.625% preference shares    
Preference shares:    
Preference shares, value $ 0.0 $ 0.0