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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows (used in) operating activities:    
Net income $ 16.1 $ 172.3
Proportion due to non-controlling interest (0.3) (0.2)
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 23.0 27.4
Share-based compensation 8.2 6.0
Realized and unrealized investment gains (104.1) (100.2)
Realized and unrealized investment losses 162.5 12.0
Deferred taxes 1.3 (1.7)
Change in fair value of loan notes issued by variable interest entities 2.4 6.2
Net realized and unrealized investment foreign exchange (gains) (18.0) (8.7)
Net change from current period hedged transactions (1.4) 3.2
Insurance reserves:    
Losses and loss adjustment expenses (171.0) 166.4
Unearned premiums 283.1 339.5
Reinsurance recoverables:    
Unpaid losses (146.7) (212.6)
Ceded unearned premiums (210.7) (207.5)
Other receivables (23.5) (9.3)
Deferred policy acquisition costs (7.6) (2.2)
Reinsurance premiums payable 241.7 (18.5)
Funds withheld 10.5 (16.8)
Premiums receivable (229.5) (213.3)
Income tax payable (4.2) 4.3
Accrued expenses and other payables (59.9) (22.0)
Fair value of derivatives and settlement of liabilities under derivatives 40.6 (24.7)
Long-term debt and loan notes issued by variable interest entities (23.9) (4.1)
Net cash (used in) operating activities (211.4) (104.5)
Cash flows from investing activities:    
(Purchases) of fixed income securities — Available for sale (1,021.3) (847.6)
(Purchases) of fixed income securities — Trading (847.2) (556.0)
Proceeds from sales and maturities of fixed income securities — Available for sale 1,037.5 1,039.9
Proceeds from sales and maturities of fixed income securities — Trading 825.5 497.3
(Purchases) of equity securities — Trading (16.5) (70.1)
Net (purchases)/sales of catastrophe bonds — Trading (2.2) 13.8
Proceeds from sales of equity securities — Trading 505.6 58.9
(Purchases) of short-term investments — Available for sale (32.0) (33.2)
Proceeds from sales of short-term investments — Available for sale 49.1 138.4
(Purchases) of short-term investments — Trading (7.3) (21.3)
Proceeds from sales of short-term investments — Trading 51.9 135.2
Net change in (payable)/receivable for securities (purchased)/sold 19.5 20.9
Net payments for other investments (86.2) 0.0
Net (purchases) of equipment (12.9) (17.6)
Sale of investment 0.0 9.3
Equity investment (1.2) 0.0
Payments for acquisitions and investments, net of cash acquired 0.0 (2.3)
Net cash from investing activities 462.3 365.6
Cash flows (used in) financing activities:    
Proceeds from the issuance of ordinary shares, net of issuance costs 2.5 0.4
Payments for repurchase of ordinary shares 0.0 (10.0)
Preference share redemption 0.0 (133.2)
Repayment of long-term debt issued by Silverton (63.7) (114.1)
Dividends paid on ordinary shares (28.6) (27.6)
Dividends paid on preference shares (15.2) (21.0)
Cash paid for tax withholding purposes (1) [1] (4.4) (9.1)
Long-term debt redeemed (125.0) 0.0
Make-whole payment (8.6) 0.0
Net cash (used in) financing activities (243.0) (314.6)
Effect of exchange rate movements on cash and cash equivalents 8.0 8.1
Increase/(decrease) in cash and cash equivalents 15.9 (45.4)
Cash and cash equivalents at beginning of period 1,054.8 1,273.8
Cash and cash equivalents at end of period 1,070.7 1,228.4
Supplemental disclosure of cash flow information:    
Net cash paid (received) during the period for income tax 5.2 (2.6)
Cash paid during the period for interest $ 15.0 $ 14.8
[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.