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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows (used in)/from operating activities:      
Net (loss) $ (241.7) $ (145.8) $ (266.4)
Proportion due to non-controlling interest 1.2 (1.0) (1.3)
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation and amortization 39.8 43.4 62.2
Impairment of lease assets 12.3 0.0 0.0
Amortization of right-of-use operating lease assets 13.4 0.0 0.0
Interest on operating lease liabilities 4.6 0.0 0.0
Share-based compensation 0.0 10.1 9.8
Realized and unrealized investment gains (97.1) (110.0) (148.9)
Realized and unrealized investment losses 10.9 174.7 28.4
Deferred taxes 24.7 (7.1) (32.5)
Change in fair value of loan notes issued by variable interest entities 3.1 4.4 (21.2)
Net realized and unrealized investment foreign exchange (gains)/losses 28.1 (0.8) (15.0)
Net change from current period hedged transactions 4.8 (1.8) 2.6
Insurance reserves:      
Losses and loss adjustment expenses (203.0) 402.5 1,292.2
Unearned premiums 18.0 (91.6) 174.1
Reinsurance recoverables:      
Unpaid losses (236.3) (575.8) (943.7)
Ceded unearned premiums 116.0 (44.8) (257.6)
Other receivables (0.4) 29.9 (48.2)
Deferred policy acquisition costs (41.1) 41.7 69.4
Reinsurance premiums payable 19.5 52.1 23.8
Funds withheld 6.8 8.0 (26.7)
Premiums receivable 144.8 31.6 (88.7)
Income tax payable (1.2) 1.6 15.9
Accrued expenses and other payable (19.3) (88.2) 147.0
Fair value of derivatives and settlement of liabilities under derivatives 73.8 5.9 (16.6)
Long-term debt and loan notes issued by variable interest entities 0.1 (44.0) (70.6)
Operating lease liabilities (18.0) 0.0 0.0
Other assets (1.6) 0.5 0.5
Net cash (used in) operating activities (337.8) (304.5) (111.5)
Cash flows from/(used in) investing activities:      
(Purchases) of fixed income securities — Available for sale (1,650.7) (1,785.6) (1,573.2)
(Purchases) of fixed income securities — Trading (1,169.1) (1,260.9) (1,312.9)
Proceeds from sales and maturities of fixed income securities — Available for sale 2,105.3 1,647.1 2,018.8
Proceeds from sales and maturities of fixed income securities — Trading 1,302.7 1,661.0 957.6
(Purchases) of equity securities — Trading 0.0 (16.5) (131.3)
Net proceeds of catastrophe bonds — Trading 7.5 (4.1) 7.4
Proceeds from sales of equity securities — Trading 0.0 505.6 316.3
(Purchases) of short-term investments — Available for sale (182.7) (130.8) (130.7)
Proceeds from sale of short-term investments — Available for sale 159.0 113.2 189.5
(Purchases) of short-term investments — Trading (193.6) (16.4) (96.0)
Proceeds from sale of short-term investments — Trading 141.1 78.9 212.0
(Purchases) of privately-held investments — Trading (287.3) 0.0 0.0
Proceeds from sale of privately-held investments — Trading 9.8 0.0  
Net change in (payable)/receivable for securities (purchased)/sold (0.4) (5.5) (9.9)
Net (purchases) of investments, equity method 0.0 (100.0) 0.0
Net proceeds in (purchases)/sales from other investments 0.0 0.0 (0.5)
(Net) purchases of equipment (22.2) (27.3) (35.0)
Sale of investment 0.0 0.0 9.3
Net (purchases) of investments, equity method (1.1) (1.4) (2.4)
Net cash from/(used in) investing activities 218.3 657.3 419.0
Cash flows from/(used in) financing activities:      
Proceeds from the issuance of ordinary shares, net of issuance costs 1.4 2.7 0.5
Ordinary shares canceled (0.1) 0.0 (30.0)
Preference shares issuance 241.6 0.0 0.0
Preference share redemption 0.0 0.0 (293.2)
Buy-out of minority interest (0.8) 0.0 0.0
Repayment of long-term debt issued by Silverton (7.7) (86.4) (115.6)
Dividends paid on ordinary shares 0.0 (42.9) (56.2)
Dividends paid on preference shares (35.9) (30.5) (36.2)
Dividends paid to non-controlling interest 0.0 (0.1) (0.1)
Contingent consideration - earn out provision settlement 0.0 (11.7) 0.0
Long-term debt repayment (125.0) (125.0) 0.0
Make-whole payment (5.5) (8.6) 0.0
Cash paid for withholdings purposes [1] (2.8) (4.7) (9.6)
Net cash from/(used in) financing activities 65.2 (307.2) (540.4)
Effect of exchange rate movements on cash and cash equivalents 1.1 (16.7) 13.9
(Decrease)/increase in cash and cash equivalents (53.2) 28.9 (219.0)
Cash and cash equivalents at beginning of period 1,083.7 1,054.8  
Cash and cash equivalents at end of period 1,030.5 1,083.7 1,054.8
Supplemental disclosure of cash flow information:      
Net cash (received)/paid during the period for income tax (4.7) (0.3) 3.4
Cash paid during the period for interest $ 19.0 $ 25.3 $ 29.0
[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 -“Compensation — Stock Compensation”.