Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
ASSETS:
Fixed maturity investments trading, at fair value (amortized cost: 2015: $7,290.6; 2014: $6,035.2)	$ 7,201.5	$ 6,069.0
Equity securities trading, at fair value (cost: 2015: $395.3; 2014: $791.2)	403.0	844.2
Other invested assets	966.7	955.5
Total investments	8,571.2	7,868.7
Cash and cash equivalents	608.0	589.3
Restricted cash	60.6	81.0
Insurance balances receivable	745.9	664.8
Funds held	640.8	724.0
Prepaid reinsurance	392.3	360.7
Reinsurance recoverable	1,480.0	1,340.3
Reinsurance recoverable on paid losses	96.4	86.1
OSLR recoverable	254.6	232.6
Accrued investment income	38.3	28.5
Net deferred acquisition costs	165.2	151.5
Goodwill	388.1	278.3
Intangible assets	116.6	46.3
Balances receivable on sale of investments	36.9	47.1
Net deferred tax assets	24.4	33.6
Other assets	147.2	118.6
Total assets	13,511.9	12,418.8
LIABILITIES:
Reserve for losses and loss expenses	6,456.2	5,881.2
Unearned premiums	1,683.3	1,555.3
Reinsurance balances payable	214.4	180.1
Balances due on purchases of investments	125.1	5.4
Senior notes:
Principal amount	1,300.0	800.0
Less unamortized discount and debt issuance costs	7.1	3.9
Senior notes, net of unamortized discount and debt issuance costs	1,292.9	796.1
Other long-term debt	23.0	19.2
Dividends payable	0.0	21.7
Accounts payable and accrued liabilities	184.5	181.6
Total liabilities	9,979.4	8,640.6
SHAREHOLDERS’ EQUITY:
Common shares: 2015 and 2014: par value CHF 4.10 per share (2015: 95,523,230; 2014: 100,775,256 shares issued and 2015: 90,959,635; 2014: 96,195,482 shares outstanding)	386.7	408.0
Treasury shares, at cost (2015: 4,563,595; 2014: 4,579,774)	(155.1)	(143.1)
Accumulated other comprehensive loss	(9.3)	0.0
Retained earnings	3,310.2	3,513.3
Total shareholders’ equity	3,532.5	3,778.2
Total liabilities and shareholders’ equity	$ 13,511.9	$ 12,418.8