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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues        
Net earned premium $ 652.5 $ 681.0 $ 1,795.6 $ 2,024.9
Net investment income 46.4 46.4 141.5 143.9
Realized and unrealized investment gains 29.9 26.7 130.1 137.4
Other income (2.2) 1.5 5.0 2.4
Total revenues 726.6 755.6 2,072.2 2,308.6
Expenses        
Losses and loss adjustment expenses 776.2 389.2 1,450.5 1,188.8
Amortization of deferred policy acquisition costs 105.4 130.9 315.4 387.8
General, administrative and corporate expenses 110.9 125.0 352.1 361.2
Interest on long-term debt 7.4 7.3 22.2 22.1
Change in fair value of derivatives (4.5) (0.6) (25.2) 7.0
Change in fair value of loan notes issued by variable interest entities (9.8) 9.8 (3.6) 13.7
Realized and unrealized investment losses 12.4 5.2 24.4 34.1
Net realized and unrealized foreign exchange (gains)/losses (8.4) (10.8) 21.1 10.2
Other (income)/expenses 0.0 (0.9) 2.0 0.1
Total expenses 989.6 655.1 2,158.9 2,025.0
(Loss)/income from operations before income tax (263.0) 100.5 (86.7) 283.6
Income tax credit/(expense) 9.2 (4.9) 5.2 (8.7)
Net (loss)/income (253.8) 95.6 (81.5) 274.9
Amount attributable to non-controlling interest (0.6) 0.2 (0.8) 0.0
Net (loss)/income attributable to Aspen Insurance Holdings Limited’s ordinary shareholders (254.4) 95.8 (82.3) 274.9
Available for sale investments:        
Reclassification adjustment for net realized gains on investments included in net income (1.0) (4.4) (2.8) (9.7)
Change in net unrealized gains/losses on available for sale securities held 1.3 (18.8) 18.0 113.7
Net change from current period hedged transactions (0.4) 3.1 3.3 (1.9)
Change in foreign currency translation adjustment (4.9) (10.2) (49.7) (26.8)
Other comprehensive (loss)/income, gross of tax (5.0) (30.3) (31.2) 75.3
Tax thereon:        
Reclassification adjustment for net realized gains on investments included in net income 0.2 0.0 0.4 0.6
Change in net unrealized gains on available for sale securities held (0.6) 2.0 (1.8) (11.7)
Net change from current period hedged transactions 0.0 (0.6) (0.5) 0.6
Change in foreign currency translation adjustment 2.3 3.7 12.9 7.5
Total tax on other comprehensive income 1.9 5.1 11.0 (3.0)
Other comprehensive (loss)/income net of tax (3.1) (25.2) (20.2) 72.3
Total comprehensive (loss)/income attributable to Aspen Insurance Holdings Limited’s ordinary shareholders $ (257.5) $ 70.6 $ (102.5) $ 347.2
Weighted average number of ordinary share and share equivalents (1)        
Basic (in shares) 59,759,730 [1] 60,225,705 59,862,540 [1] 60,588,307
Diluted (in shares) 59,759,730 [1] 61,577,018 59,862,540 [1] 62,043,440
Basic (loss)/earnings per ordinary share adjusted for preference share dividends $ (4.48) $ 1.43 $ (1.99) $ 4.07
Diluted (loss)/earnings per ordinary share adjusted for preference share dividends $ (4.48) $ 1.40 $ (1.99) $ 3.97
[1] The basic and diluted number of ordinary shares for the three and nine months ended September 30, 2017 is the same as the inclusion of dilutive securities in a loss making period would be anti-dilutive.