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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Investments:    
Fixed income securities, available for sale at fair value (amortized cost — $5,465.2 and $5,201.2) $ 5,412.2 $ 5,231.0
Fixed income securities, trading at fair value (amortized cost — $1,652.7 and $1,643.9) 1,637.6 1,649.3
Equity securities, trading at fair value (cost — $0 and $414.8) 0.0 491.0
Short-term investments, available for sale at fair value (amortized cost — $54.7 and $90.0) 54.6 89.9
Short-term investments, trading at fair value (amortized cost — $27.0 and $73.0) 27.0 73.0
Catastrophe bonds, trading at fair value (cost — $35.0 and $33.5) 34.8 32.4
Other investments, equity method 66.1 66.4
Total investments 7,232.3 7,633.0
Cash and cash equivalents (including $103.0 and $166.6 within consolidated variable interest entities) 1,246.9 1,054.8
Reinsurance recoverables    
Unpaid losses 1,611.3 1,515.2
Ceded unearned premiums 683.9 515.5
Receivables    
Underwriting premiums 1,743.0 1,496.5
Other 108.6 151.1
Funds withheld 102.9 99.8
Deferred policy acquisition costs 319.9 294.3
Derivatives at fair value 15.6 6.4
Receivables for securities sold 4.1 5.3
Office properties and equipment 77.1 75.5
Tax recoverable 6.5 2.3
Deferred tax assets 27.8 28.3
Other assets 0.5 0.5
Intangible assets and goodwill 27.5 27.9
Total assets 13,207.9 12,906.4
Insurance reserves    
Losses and loss adjustment expenses 6,679.4 6,749.5
Unearned premiums 2,097.7 1,820.8
Total insurance reserves 8,777.1 8,570.3
Payables    
Reinsurance premiums 491.3 357.5
Accrued expenses and other payables 496.5 455.4
Liabilities under derivative contracts 2.3 1.0
Total payables 990.1 813.9
Loan notes issued by variable interest entities, at fair value 32.2 44.2
Long-term debt 549.5 549.5
Total liabilities 10,348.9 9,977.9
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 2.9 2.7
Additional paid-in capital 959.5 954.7
Retained earnings 2,035.6 2,026.9
Accumulated other comprehensive income, net of taxes (139.1) (55.9)
Total shareholders’ equity 2,859.0 2,928.5
Total liabilities and shareholders’ equity 13,207.9 12,906.4
5.95% preference shares    
Preference shares:    
Preference shares, value 0.0 0.0
5.625% preference shares    
Preference shares:    
Preference shares, value $ 0.0 $ 0.0