Shareholders' Equity

3 Months Ended

Mar. 31, 2016

Stockholders' Equity Note [Abstract]

Shareholders' Equity

SHAREHOLDERS’ EQUITY

a) Authorized shares

The issued share capital consists of the following:

	March 31, 2016		December 31, 2015
Common shares issued and fully paid, 2016 and 2015: CHF 4.10 per share	94,062,342		95,523,230
Share capital at end of period	$	375.1	$	386.7

	Three Months Ended   March 31, 2016
Shares issued at beginning of period	95,523,230
Shares canceled	(1,460,888	)
Total shares issued at end of period	94,062,342
Treasury shares issued at beginning of period	4,563,595
Shares repurchased	1,460,888
Shares issued out of treasury	(341,701	)
Shares canceled	(1,460,888	)
Total treasury shares at end of period	4,221,894
Total shares outstanding at end of period	89,840,448

During the three months ended March 31, 2016, 1,460,888 shares repurchased and designated for cancellation were constructively retired and canceled.

b) Dividends

The Company paid the following dividends during the three months ended March 31, 2016:

Dividend Paid	Dividend Per Share		Total Amount Paid
March 31, 2016	$	0.260	$	23.4

On April 30, 2015, the shareholders approved the Company’s proposal to pay cash dividends in the form of a distribution out of general legal reserve from capital contributions. The distribution amount will be paid to shareholders in quarterly installments of $0.26 per share. The installments of the dividend were distributed in July 2015, October 2015, December 2015 and March 2016.

c) Share Repurchases

On May 1, 2014, the shareholders approved a share repurchase program in order for the Company to repurchase up to $500.0 million of its common shares. Repurchases may be effected from time to time through open market purchases, privately negotiated transactions, tender offers or otherwise. The timing, form and amount of the share repurchases under the program will depend on a variety of factors, including market conditions, the Company’s capital position, legal requirements and other factors. Under the terms of the share repurchase program, the first three million of common shares repurchased will remain in treasury and will be used by Allied World Switzerland to satisfy share delivery obligations under its equity-based compensation plans. Any additional common shares repurchased will be designated for cancellation at acquisition and will be canceled upon shareholder approval. Shares repurchased and designated for cancellation are constructively retired and recorded as a share cancellation.

The Company’s share repurchases were as follows:

	Three Months Ended   March 31,
	2016		2015
Common shares repurchased	1,460,888		1,271,213
Total cost of shares repurchased	$	50.0	$	50.9
Average price per share	$	34.23	$	40.08