Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
ASSETS:
Fixed maturity investments trading, at fair value (amortized cost: 2016: $7,769.0; 2015: $7,290.6)	$ 7,794.2	$ 7,201.5
Equity securities trading, at fair value (cost: 2016: $205.3; 2015: $395.3)	202.3	403.0
Other invested assets	939.8	966.7
Total investments	8,936.3	8,571.2
Cash and cash equivalents	584.5	608.0
Restricted cash	78.2	60.6
Insurance balances receivable	961.0	745.9
Funds held	279.1	640.8
Prepaid reinsurance	430.1	392.3
Reinsurance recoverable	1,516.7	1,480.0
Reinsurance recoverable on paid losses	73.8	96.4
Accrued investment income	38.7	38.3
Net deferred acquisition costs	168.9	165.2
Goodwill	392.6	388.1
Intangible assets	113.5	116.6
Balances receivable on sale of investments	114.6	36.9
Net deferred tax assets	21.2	24.4
Other assets	158.1	147.2
Total assets	13,867.3	13,511.9
LIABILITIES:
Reserve for losses and loss expenses	6,623.2	6,456.2
Unearned premiums	1,822.1	1,683.3
Reinsurance balances payable	227.7	214.4
Balances due on purchases of investments	155.0	125.1
Senior notes:
Principal amount	1,300.0	1,300.0
Less unamortized discount and debt issuance costs	6.3	7.1
Senior notes, net of unamortized discount and debt issuance costs	1,293.7	1,292.9
Other long-term debt	23.1	23.0
Accounts payable and accrued liabilities	138.0	184.5
Total liabilities	10,282.8	9,979.4
SHAREHOLDERS’ EQUITY:
Common shares: 2016 and 2015: par value CHF 4.10 per share (2016: 93,586,418; 2015: 95,523,230 shares issued and 2016: 87,463,950; 2015: 90,959,635 shares outstanding)	366.7	386.7
Treasury shares, at cost (2016: 6,122,468; 2015: 4,563,595)	(216.7)	(155.1)
Accumulated other comprehensive loss	(6.0)	(9.3)
Retained earnings	3,440.5	3,310.2
Total shareholders’ equity	3,584.5	3,532.5
Total liabilities and shareholders’ equity	$ 13,867.3	$ 13,511.9