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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Investments:    
Fixed income maturities, available for sale (amortized cost — $4,845.2 and $5,282.3) $ 4,958,200 $ 5,230,700
Catastrophe bonds, trading at fair value ( cost — $29.4 and $37.9) 28,600 36,200
Privately-held investments, trading at fair value (amortized cost — $279.2 and $0) 279,700 0
Investments, equity method 67,900 67,100
Other investments 111,400 102,500
Total investments 6,771,400 6,739,400
Cash and cash equivalents (including cash within consolidated variable interest entities of — $69.1 and $26.9) 1,030,500 1,083,700
Reinsurance recoverables:    
Unpaid losses 2,319,800 2,077,600
Ceded unearned premiums 443,700 558,800
Receivables:    
Underwriting premiums 1,318,400 1,459,300
Other 114,300 121,200
Funds withheld 85,000 91,800
Deferred policy acquisition costs 291,100 248,500
Derivatives at fair value 12,900 14,600
Receivables for securities sold 5,100 3,200
Office properties and equipment 64,800 73,100
Right-of-use operating lease assets 93,500 0
Income tax recoverable 4,500 0
Deferred tax assets 0 35,400
Other assets 1,600 0
Intangible assets and goodwill 23,900 26,300
Total assets 12,580,500 12,532,900
Insurance reserves    
Losses and loss adjustment expenses 6,951,800 7,074,200
Unearned premiums 1,737,700 1,709,100
Total insurance reserves 8,689,500 8,783,300
Reinsurance Payable 439,600 421,200 [1]
Payables    
Income taxes payable 2,700 100
Accrued expenses and other payables 220,800 247,400
Payables for securities purchased 2,200 700
Operating lease liabilities 113,200  
Liabilities under derivative contracts 87,200 15,100
Total payables 865,700 684,500
Long-term debt 299,800 424,700
Total liabilities 9,855,000 9,892,500
Commitments and contingent liabilities (see Note 20) 0 0
Ordinary shares:    
60,395,839 shares of par value $.01 each (December 31, 2018 — 59,743,156 of par value 0.15144558¢ each) 604 90
Preference shares:    
Non-controlling interest 0 3,700
Additional paid-in capital 1,201,700 967,500
Retained earnings 1,514,600 1,791,000
Accumulated other comprehensive income/(loss), net of taxes 8,600 (121,900)
Total shareholders’ equity 2,725,500 2,640,400
Total liabilities and shareholders’ equity 12,580,500 12,532,900
5.950% Preference Shares (AHL PRC)    
Preference shares:    
Preference shares, value 0 0
5.625% Preference Shares (AHL PRD)    
Preference shares:    
Preference shares, value 0 0
5.625% Preference Shares, rep by Dep Shares (AHL PRE)    
Preference shares:    
Preference shares, value 0 0
Retained earnings    
Preference shares:    
Total shareholders’ equity 1,514,600 1,791,000
Fixed Income Investments    
Investments:    
Fixed income maturities, available for sale (amortized cost — $4,845.2 and $5,282.3) 4,958,200 5,230,700
Short-term investments, trading at fair value (amortized cost — $79.2 and $9.5) 1,128,800 1,187,800
Short-term investments    
Investments:    
Fixed income maturities, available for sale (amortized cost — $4,845.2 and $5,282.3) 117,600 105,600
Short-term investments, trading at fair value (amortized cost — $79.2 and $9.5) $ 79,200 $ 9,500
[1] Retained earnings have been restated by $15.6 million from January 1, 2017 to account for additional ceded premiums on excess of loss ceded reinsurance contracts for periods December 31, 2016 and prior.