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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2018
Dec. 31, 2017
Investments:    
Fixed income securities, available for sale at fair value (amortized cost — $5,155.9 and $5,201.2) $ 5,080.0 $ 5,231.0
Fixed income securities, trading at fair value (amortized cost — $1,644.6 and $1,634.9) 1,615.9 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 — $72.2 and $90.0) 72.2 89.9
Short-term investments, trading at fair value (amortized cost — $27.4 and $73.0) 27.4 73.0
Catastrophe bonds, trading at fair value (cost — $35.8 and $33.5) 35.5 32.4
Investments, equity method 67.1 66.4
Other investments 86.2 0.0
Total investments 6,984.3 7,633.0
Cash and cash equivalents (including $74.5 and $166.6 within consolidated variable interest entities) 1,070.7 1,054.8
Reinsurance recoverables    
Unpaid losses 1,656.4 1,515.2
Ceded unearned premiums 724.8 515.5
Receivables    
Underwriting premiums 1,725.2 1,496.5
Other 175.5 151.1
Funds withheld 89.3 99.8
Deferred policy acquisition costs 298.6 294.3
Derivatives at fair value 14.1 6.4
Receivables for securities sold 2.6 5.3
Office properties and equipment 73.0 75.5
Tax recoverable 5.8 2.3
Deferred tax assets 26.9 28.3
Other assets 0.5 0.5
Intangible assets and goodwill 27.0 27.9
Total assets 12,874.7 12,906.4
Insurance reserves    
Losses and loss adjustment expenses 6,532.8 6,749.5
Unearned premiums 2,087.2 1,820.8
Total insurance reserves 8,620.0 8,570.3
Payables    
Reinsurance premiums 596.0 357.5
Accrued expenses and other payables 336.5 455.4
Liabilities under derivative contracts 49.3 1.0
Total payables 981.8 813.9
Loan notes issued by variable interest entities, at fair value 20.3 44.2
Long-term debt 424.6 549.5
Total liabilities 10,046.7 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 3.0 2.7
Additional paid-in capital 965.4 954.7
Retained earnings 1,998.9 2,026.9
Accumulated other comprehensive income, net of taxes (139.4) (55.9)
Total shareholders’ equity 2,828.0 2,928.5
Total liabilities and shareholders’ equity 12,874.7 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