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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues    
Net earned premium $ 510.6 $ 533.5
Net investment income 51.5 47.3
Realized and unrealized investment gains 42.0 100.6
Other income 1.7 2.1
Total revenues 605.8 683.5
Expenses    
Losses and loss adjustment expenses 311.8 310.2
Amortization of deferred policy acquisition costs 88.2 90.8
General, administrative and corporate expenses 137.3 121.0
Interest on long-term debt 5.5 7.4
Change in fair value of derivatives 53.3 (23.5)
Change in fair value of loan notes issued by variable interest entities 1.5 (1.0)
Realized and unrealized investment losses 6.2 138.3
Net realized and unrealized foreign exchange (gains)/losses (5.1) 4.7
Other expenses 0.9 1.2
Total expenses 599.6 649.1
Income from operations before income tax 6.2 34.4
Income tax benefit/(expense) 4.4 (3.6)
Net income 10.6 30.8
Amount attributable to non-controlling interest 0.2 (0.2)
Net income attributable to Aspen Insurance Holdings Limited’s ordinary shareholders 10.8 30.6
Available for sale investments:    
Reclassification adjustment for net realized gains on investments included in net income 0.2 (0.1)
Change in net unrealized gains/(losses) on available for sale securities held 75.4 (82.8)
Net change from current period hedged transactions 1.7 0.9
Change in foreign currency translation adjustment (14.7) (8.1)
Other comprehensive income/(loss), gross of tax 62.6 (90.1)
Tax thereon:    
Reclassification adjustment for net realized gains on investments included in net income 0.0 0.1
Change in net unrealized gains/(losses) on available for sale securities held (5.2) 5.4
Net change from current period hedged transactions (0.1) (0.2)
Change in foreign currency translation adjustment 2.5 1.6
Total tax on other comprehensive income (2.8) 6.9
Other comprehensive income/(loss), net of tax 59.8 (83.2)
Total comprehensive income/(loss) attributable to Aspen Insurance Holdings Limited’s ordinary shareholders $ 70.6 $ (52.6)
Ordinary shares, issued (in shares) 60,395,839  
Ordinary shares, par value (in usd per share) [1] $ 0.01  
[1] On February 15, 2019, the Company completed its previously announced merger (the “Merger”) with Highlands Merger Sub, Ltd. (“Merger Sub”), a wholly owned subsidiary of Highlands Holdings, Ltd. (“Parent”). As a result of the Merger, a change in control of the Company occurred and the Company is now a wholly owned subsidiary of Parent. At the effective time of the Merger, each of the Company’s issued and outstanding ordinary shares (other than ordinary shares owned by the Company as treasury shares, owned by any subsidiary of the Company or owned by Parent, Merger Sub or any subsidiary thereof) was automatically canceled and converted into the right to receive $42.75 in cash, without interest and less any required tax withholdings. The ordinary shares of the Company ceased trading on the New York Stock Exchange prior to the opening of trading on February 15, 2019. Therefore, earnings per share data is no longer considered meaningful for both the current reporting period and for the comparative period and has been excluded. For more information on the Merger, refer to Note 1 of these unaudited condensed consolidated financial statements.