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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 96.5 $ 114.4
Proportion due to non-controlling interest (0.1) 0.2
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 11.0 10.2
Share-based compensation 7.9 4.1
Realized and unrealized investment (gains) (51.2) (65.6)
Realized and unrealized investment losses 5.0 20.6
Change in fair value of loan notes issued by variable interest entities 2.9 4.4
Net realized and unrealized investment foreign exchange losses 5.5 (2.2)
Net change from current period hedged transactions 1.2 (1.4)
Insurance reserves:    
Losses and loss adjustment expenses 18.3 58.5
Unearned premiums 263.7 202.4
Reinsurance recoverables:    
Unpaid losses (73.9) (9.3)
Ceded unearned premiums (149.5) (74.2)
Other receivables (24.9) (20.8)
Deferred policy acquisition costs (7.5) (46.9)
Reinsurance premiums payable 20.8 55.7
Funds withheld (17.3) (3.6)
Premiums receivable (159.5) (207.5)
Deferred taxes 1.0 14.4
Income tax payable 1.8 0.0
Accrued expenses and other payables (19.2) (2.0)
Fair value of derivatives and settlement of liabilities under derivatives (12.1) 11.9
Long-term debt and loan notes issued by variable interest entities (4.7) 1.6
Other assets 0.0 2.3
Net cash (used in)/generated from operating activities (84.3) 67.2
Cash flows (used in) investing activities:    
(Purchases) of fixed income securities — Available for sale (441.2) (682.9)
(Purchases) of fixed income securities — Trading (265.6) (215.9)
Proceeds from sales and maturities of fixed income securities — Available for sale 440.6 640.0
Proceeds from sales and maturities of fixed income securities — Trading 237.6 132.2
(Purchases) of equity securities — Trading (26.5) (60.3)
Net proceeds of catastrophe bonds — Trading 0.4 8.9
Proceeds from sales of equity securities — Trading 20.9 59.1
(Purchases) of short-term investments — Available for sale (33.2) (57.4)
Proceeds from sales of short-term investments — Available for sale 15.9 88.7
(Purchases) of short-term investments — Trading (4.8) 0.0
Proceeds from sales of short-term investments — Trading 6.1 2.1
Net change in (payable)/receivable for securities (purchased)/sold 8.6 23.6
Net (purchases) of equipment (9.9) (4.8)
Sale of investment 9.3 0.0
Payments for acquisitions and investments, net of cash acquired (2.3) (52.7)
Net cash (used in) investing activities (44.1) (119.4)
Cash flows (used in) financing activities:    
Proceeds from the issuance of ordinary shares, net of issuance costs 0.1 1.5
Ordinary shares repurchased 0.0 (25.0)
Preference share redemption (133.2) 0.0
Dividends paid on ordinary shares (111.2) (87.4)
Dividends paid on preference shares (13.2) (12.8)
Dividends paid to non-controlling interest (10.5) (9.5)
Cash paid for tax withholding purposes [1] (7.8) (6.7)
Net cash (used in) financing activities (275.8) (139.9)
Effect of exchange rate movements on cash and cash equivalents 3.5 (4.3)
Decrease in cash and cash equivalents (400.7) (196.4)
Cash and cash equivalents at beginning of period 1,273.8 1,099.5
Cash and cash equivalents at end of period 873.1 903.1
Supplemental disclosure of cash flow information:    
Net cash paid during the period for income tax 0.9 0.4
Cash paid during the period for interest $ 7.4 $ 0.0
[1] The cash paid to the tax authority when withholding shares from employees’ awards for tax-withholding purposes has been reclassified from operating activity to financing activity following the adoption of ASU 2016-09. The adjustment has been applied retrospectively and comparative period has been reclassified.