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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from/(used in) operating activities:      
Net (loss)/income $ (266.4) $ 203.4 $ 323.1
Proportion due to non-controlling interest (1.3) (0.1) (0.8)
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation and amortization 62.2 51.5 28.5
Share-based compensation 9.8 15.5 17.9
Realized and unrealized investment (gains) (148.9) (108.4) (94.5)
Realized and unrealized investment losses 28.4 63.2 77.5
Change in fair value of loan notes issued by variable interest entities (21.2) 17.1 19.8
Deferred taxes (32.5) 9.4 (6.8)
Net realized and unrealized investment foreign exchange (gains)/losses (15.0) 1.4 5.5
Net change from current period hedged transactions 2.6 0.7 2.6
Insurance reserves:      
Losses and loss adjustment expenses 1,292.2 466.2 244.5
Unearned premiums 174.1 23.9 120.4
Reinsurance recoverables:      
Unpaid losses (943.7) (219.9) (8.6)
Ceded unearned premiums (257.6) (87.6) 37.8
Other receivables (48.2) 1.4 0.6
Deferred policy acquisition costs 69.4 2.4 (61.9)
Reinsurance premiums payable 23.8 234.0 2.7
Funds withheld (26.7) (37.1) 10.9
Premiums receivable (88.7) (271.1) (123.7)
Income tax payable 15.9 (20.1) (7.4)
Accrued expenses and other payable 147.0 75.7 (11.9)
Fair value of derivatives and settlement of liabilities under derivatives (16.6) 16.4 (11.4)
Long-term debt and loan notes issued by variable interest entities (70.6) 12.2 0.1
Other assets 0.5 3.1 9.3
Net cash (used in)/generated by operating activities (111.5) 453.2 574.2
Cash flows (used in)/from investing activities:      
(Purchases) of fixed income securities — Available for sale (1,573.2) (2,236.7) (2,131.9)
(Purchases) of fixed income securities — Trading (1,312.9) (973.3) (556.9)
Proceeds from sales and maturities of fixed income securities — Available for sale 2,018.8 2,307.9 1,656.3
Proceeds from sales and maturities of fixed income securities — Trading 957.6 593.7 519.9
(Purchases) of equity securities — Trading (131.3) (195.3) (392.2)
Net proceeds of catastrophe bonds — Trading 7.4 12.8 (20.9)
Proceeds from sales of equity securities — Available for sale 0.0 0.0 108.6
Proceeds from sales of equity securities — Trading 316.3 372.0 270.8
(Purchases) of short-term investments — Available for sale (130.7) (224.6) (212.1)
Proceeds from sale of short-term investments — Available for sale 189.5 242.9 282.6
(Purchases) of short-term investments — Trading (96.0) (190.6) (45.6)
Proceeds from sale of short-term investments — Trading 212.0 14.1 36.3
Net change in (payable)/receivable for securities (purchased)/sold (9.9) 12.7 (2.1)
Net proceeds in (purchases)/sales from other investments (0.5) 0.0 0.0
(Net) purchases of equipment (35.0) (23.7) (13.9)
Sale of investment 9.3 0.0 0.0
Other equity investments (2.4) (3.3) (0.8)
Payments for acquisitions and investments, net of cash acquired 0.0 (59.5) 0.0
Net cash from/(used in) investing activities 419.0 (350.9) (501.9)
Cash flows (used in)/from financing activities:      
Proceeds from the issuance of ordinary shares, net of issuance costs 0.5 2.5 6.8
Ordinary shares repurchased (30.0) (75.0) (83.7)
Proceeds from the issuance of preference shares, net of issuance costs 0.0 241.3 0.0
Preference share redemption (293.2) 0.0 0.0
Proceeds from loan notes issued by Silverton 0.0 105.0 100.0
Repayment of long-term debt issued by Silverton (115.6) (89.3) (67.8)
Dividends paid on ordinary shares (56.2) (52.7) (50.9)
Dividends paid on preference shares (36.2) (41.8) (37.8)
Dividends paid to non-controlling interest (0.1) 0.0 (0.1)
Cash paid for withholdings purposes [1] 9.6 0.0 0.0
Net cash (used in)/from financing activities (540.4) 90.0 (133.5)
Effect of exchange rate movements on cash and cash equivalents 13.9 (18.0) (17.8)
Increase/(decrease) in cash and cash equivalents (219.0) 174.3 (79.0)
Cash and cash equivalents at beginning of period 1,273.8 1,099.5 1,178.5
Cash and cash equivalents at end of period 1,054.8 1,273.8 1,099.5
Supplemental disclosure of cash flow information:      
Net cash paid during the period for income tax 3.4 7.0 8.8
Cash paid during the period for interest $ 29.0 $ 29.0 $ 29.0
[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 -“Compensation — Stock Compensation”.