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Earnings per Ordinary Share (Tables)
 9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings per Share
The following table sets forth the computation of basic and diluted earnings per ordinary share for the three and nine months ended September 30, 2018 and 2017, respectively:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
 
($ in millions, except share and per share amounts)
 
 
 
 
 
 
 
 
Net (loss)/income
$
(15.1
)
 
$
(253.8
)
 
$
1.0

 
$
(81.5
)
Preference share dividends
(7.6
)
 
(7.7
)
 
(22.8
)
 
(28.7
)
Preference share redemption costs (1)
—

 
(5.6
)
 
—

 
(8.0
)
Net amount attributable to non-controlling interest
0.1

 
(0.6
)
 
(0.2
)
 
(0.8
)
Basic and diluted net (loss) available to ordinary shareholders (2)
$
(22.6
)
 
$
(267.7
)
 
$
(22.0
)
 
$
(119.0
)
Ordinary shares:
 
 
 
 
 
 
 
Basic weighted average ordinary shares
59,692,623

 
59,759,730

 
59,637,361

 
59,862,540

Weighted average effect of dilutive securities (2) (3)
—

 
—

 
—

 
—

Total diluted weighted average ordinary shares
59,692,623

 
59,759,730

 
59,637,361

 
59,862,540

(Loss)/earnings per ordinary share:
 
 
 
 
 
 
 
Basic
$
(0.38
)
 
$
(4.48
)
 
$
(0.37
)
 
$
(1.99
)
Diluted (2)
$
(0.38
)
 
$
(4.48
)
 
$
(0.37
)
 
$
(1.99
)
 
(1) 
The $8.0 million deduction from net income in 2017 is attributable to the reclassification from additional paid-in capital to retained earnings representing the difference between the capital raised upon issuance of the 7.401% and 7.250% Perpetual Non-Cumulative Preference Shares, net of issuance costs, and the final redemption costs of $293.2 million.
(2) 
The basic and diluted number of ordinary shares was the same because the inclusion of dilutive securities in a loss-making period would be anti-dilutive.
(3) 
Dilutive securities consist of employee restricted share units and performance shares associated with the Company’s long-term incentive plan, employee share purchase plans and director restricted share units as described in Note 14.
Summary of Declared Dividends
Dividends. On October 24, 2018, the Company’s Board of Directors (the “Board of Directors”) declared the following quarterly dividends:
 
Dividend
 
Payable on:
 
Record Date:
5.95% preference shares
$
0.3719

 
January 1, 2019
 
December 15, 2018
5.625% preference shares
$
0.3516

 
January 1, 2019
 
December 15, 2018