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Capital Structure (Tables)
12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Summary of Authorized and Issued Share Capital
The following table provides a summary of the Company’s authorized and issued share capital as at December 31, 2019 and 2018:
 
 
As at December 31, 2019
 
At December 31, 2018
 
 
Number
 
$ in
Thousands
 
Number
 
$ in
Thousands
Authorized share capital:
 
 
 
 
 
 
 
 
Ordinary Shares  $0.01 per share ( 2018 — 0.15144558¢ per share
 
70,000,000

 
700

 
969,629,030

 
1,469

Non-Voting Shares 0.15144558¢ per share
 

 

 
6,787,880

 
10

Preference Shares 0.15144558¢ per share
 
30,000,000

 
45

 
100,000,000

 
152

Total authorized share capital
 
 
 
745

 
 
 
1,631

 
 
 
 
 
 
 
 
 
Issued share capital:
 
 
 
 
 
 
 
 
Issued ordinary shares $0.01 per share ( 2018 — 0.15144558¢ per share
 
60,395,839

 
604

 
59,743,156

 
90

Issued 5.95% preference shares of 0.15144558¢ each with a liquidation preference of $25 per share
 
11,000,000

 
17

 
11,000,000

 
17

Issued 5.625% preference shares of 0.15144558¢ each with a liquidation preference of $25 per share
 
10,000,000

 
15

 
10,000,000

 
15

Issued 5.625% preference shares of 0.15144558¢ represented by depositary shares, each with a liquidation preference of $25 per share (1)
 
10,000

 

 

 

Total issued share capital
 
 
 
636

 
 
 
122


 ______________
(1)
Each depositary share represents a 1/1000th interest in a share of the 5.625% preference shares.
Summary of Ordinary Shares
The following table summarizes transactions in the Company’s ordinary shares during the years ended December 31, 2019 and 2018:
 
 
Number of Ordinary Shares
 
 
2019
 
2018
Ordinary shares of 0.015144558c per share
 
 
 
 
Ordinary shares in issue at the beginning of the year
 
59,743,156

 
59,474,085

Ordinary shares issued to employees under the 2013 share incentive plan and/or 2008 share purchase plan
 
144,269

 
229,318

Ordinary shares issued to non-employee directors
 
6,993

 
39,753

Ordinary shares canceled
 
(59,894,418
)
 

Total ordinary shares of 0.015144558c per share in issue
 

 
59,743,156

 
 
 
 
 
Ordinary shares of $0.01 per share
 
 
 
 
New ordinary shares issued of $0.01 per share
 
60,395,839

 
 
Ordinary shares issued at the end of the year
 
60,395,839