Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

Summary of consideration paid and amounts of assets acquired and liabilities assumed

The following table summarizes the consideration paid for the Hong Kong and Singapore branches of RSA and the preliminary amounts of the assets acquired and liabilities assumed at the acquisition date.



Consideration:	Fair Value
Cash consideration	$	176.5

Recognized amounts of identifiable assets acquired and liabilities assumed:
Fixed maturity investments	246.1
Cash and cash equivalents	47.1
Insurance balances receivable	114.4
Prepaid reinsurance	17.5
Reinsurance recoverable	58.9
Value of business acquired	28.9
Intangible assets	79.9
Other assets	9.9
Reserve for losses and loss expenses	(314.1		)
Unearned premiums	(150.5		)
Reinsurance balances payable	(35.8		)
Net deferred tax liabilities	(11.9		)
Accounts payable and accrued liabilities	(20.1		)
Total identifiable net assets acquired	70.3

Goodwill	106.2
Total net assets acquired	$	176.5

Summary of intangible assets acquired

The following is a breakdown of the intangible assets acquired.



	Singapore Branch		Estimated Useful Life	Hong Kong Branch		Estimated Useful Life	Total
VOBA	$	17.8	2 years	$	11.1	1.5 years	$	28.9
Customer renewals	8.6		4 years	4.4		5 years	13.0
Distribution channels	47.7		18 years	19.2		18 years	66.9
	$	74.1		$	34.7		$	108.8

Summary of results since acquisition

The following summarizes the results of the Hong Kong and Singapore branches that have been included in the Company’s consolidated income statement since the acquisitions closed on April 1, 2015.



	From April 1, 2015 to December 31, 2015
Total revenue	$	155.3
Net loss	$	(28.9	)

Pro forma information

The following unaudited pro forma information presents the combined results of the Company and the acquired Hong Kong and Singapore RSA branches for the years ended December 31, 2015 and 2014, with pro forma adjustments related to the acquisition method of accounting as if the acquisitions had been consummated as of January 1, 2014. This unaudited pro forma information is not necessarily indicative of what would have occurred had the acquisitions and related transactions been made on the dates indicated, or of future results of the Company.



	Year Ended December 31, 2015		Year Ended December 31, 2014
Total revenue	$	2,594.2	$	2,681.7
Net income	$	74.2	$	505.9