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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Net earned premium $ 519.5 $ 562.0 $ 1,053.0 $ 1,143.1
Net investment income 50.4 47.4 97.7 95.1
Realized and unrealized investment gains 3.5 49.0 104.1 100.2
Other income 2.1 3.6 4.2 7.2
Total revenues 575.5 662.0 1,259.0 1,345.6
Expenses        
Losses and loss adjustment expenses 310.4 346.1 620.6 674.3
Amortization of deferred policy acquisition costs 85.9 96.3 176.7 210.0
General, administrative and corporate expenses 110.2 119.9 231.2 241.2
Interest on long-term debt 7.6 7.4 15.0 14.8
Change in fair value of derivatives 46.1 (17.6) 22.6 (20.7)
Change in fair value of loan notes issued by variable interest entities 3.4 3.3 2.4 6.2
Realized and unrealized investment losses 24.2 7.0 162.5 12.0
Realized loss on the debt extinguishment 8.6 0.0 8.6 0.0
Net realized and unrealized foreign exchange (gains)/losses (5.2) 20.6 (0.5) 29.5
Other expenses 0.5 2.0 1.7 2.0
Total expenses 591.7 585.0 1,240.8 1,169.3
(Loss)/income from operations before income tax (16.2) 77.0 18.2 176.3
Income tax credit/(expense) 1.5 (1.2) (2.1) (4.0)
Net (loss)/income (14.7) 75.8 16.1 172.3
Amount attributable to non-controlling interest (0.1) (0.1) (0.3) (0.2)
Net (loss)/income attributable to Aspen Insurance Holdings Limited’s ordinary shareholders (14.8) 75.7 15.8 172.1
Available for sale investments:        
Reclassification adjustment for net realized gains on investments included in net income 3.3 (0.8) 3.2 (1.8)
Change in net unrealized (losses)/gains on available for sale securities held (26.1) 13.7 (108.9) 16.7
Net change from current period hedged transactions (2.6) 2.4 (1.7) 3.7
Change in foreign currency translation adjustment 33.0 (27.6) 24.9 (44.8)
Other comprehensive income/(loss), gross of tax 7.6 (12.3) (82.5) (26.2)
Tax thereon:        
Reclassification adjustment for net realized gains on investments included in net income (0.4) 0.0 (0.3) 0.2
Change in net unrealized gains/(losses) on available for sale securities held 1.6 (1.1) 7.0 (1.2)
Net change from current period hedged transactions 0.5 (0.4) 0.3 (0.5)
Change in foreign currency translation adjustment (9.6) 6.3 (8.0) 10.6
Total tax on other comprehensive income (7.9) 4.8 (1.0) 9.1
Other comprehensive (loss), net of tax (0.3) (7.5) (83.5) (17.1)
Total comprehensive (loss)/income attributable to Aspen Insurance Holdings Limited’s ordinary shareholders $ (15.1) $ 68.2 $ (67.7) $ 155.0
Weighted average number of ordinary share and share equivalents        
Basic (in shares) 59,671,684 59,966,358 59,609,271 59,914,797
Diluted (in shares) 59,671,684 61,022,981 60,528,136 61,095,817
Basic (loss)/earnings per ordinary share adjusted for preference share dividends $ (0.38) $ 1.09 $ 0.01 $ 2.48
Diluted (loss)/earnings per ordinary share adjusted for preference share dividends $ (0.38) $ 1.07 $ 0.01 $ 2.43