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Unaudited Quarterly Financial Data (Tables)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Summary of unaudited consolidated statements of income by quarter
The following are the unaudited consolidated statements of income by quarter for the years ended December 31, 2016 and 2015:
 
 

Quarter Ended
 

December 31,
2016
 
September 30,
2016
 
June 30,
2016
 
March 31,
2016
REVENUES:


 

 

 

Gross premiums written

$
671.7

 
$
730.2

 
$
800.3

 
$
863.5

Premiums ceded

(226.4
)
 
(201.9
)
 
(222.2
)
 
(159.5
)
Net premiums written

445.3

 
528.3

 
578.1

 
704.0

Change in unearned premiums

131.7

 
55.7

 
24.8

 
(123.9
)
Net premiums earned

577.0

 
584.0

 
602.9

 
580.1

Net investment income

58.1

 
50.6

 
55.8

 
53.3

Net realized investment (losses) gains

(101.9
)
 
10.7

 
74.5

 
18.9

Other income
 
4.8

 
1.8

 
5.2

 
0.6



538.0

 
647.1

 
738.4

 
652.9

EXPENSES:

 
 
 
 
 
 
 
Net losses and loss expenses

387.8

 
376.3

 
365.4

 
372.4

Acquisition costs

82.0

 
82.0

 
87.4

 
88.3

General and administrative expenses

106.1

 
104.2

 
104.7

 
96.4

Other expense
 
1.8

 
2.2

 
1.7

 
1.1

Amortization and impairment of intangible assets

3.2

 
2.5

 
2.5

 
2.5

Interest expense

10.4

 
13.5

 
19.9

 
20.0

Foreign exchange loss (gain)

0.8

 
1.0

 
(2.9
)
 
(3.0
)


592.1

 
581.7

 
578.7

 
577.7

(Loss) income before income taxes

(54.1
)
 
65.4

 
159.7

 
75.2

Income tax (benefit) expense)

(13.3
)
 
(3.2
)
 
6.3

 
1.1

NET (LOSS) INCOME

$
(40.8
)
 
$
68.6

 
$
153.4

 
$
74.1

PER SHARE DATA


 

 

 

Basic (loss) earnings per share

$
(0.47
)
 
$
0.79

 
$
1.73

 
$
0.82

Diluted (loss) earnings per share

$
(0.47
)
 
$
0.77

 
$
1.70

 
$
0.81

Weighted average common shares outstanding

87,036,339

 
87,102,290

 
88,742,484

 
90,254,512

Weighted average common shares and common share equivalents outstanding

87,036,339

 
88,603,101

 
90,040,509

 
91,559,225


 

Quarter Ended
 

December 31,
2015
 
September 30,
2015
 
June 30,
2015
 
March 31,
2015
REVENUES:


 

 

 

Gross premiums written

$
632.3

 
$
754.1

 
$
826.0

 
$
880.6

Premiums ceded

(167.5
)
 
(147.1
)
 
(222.3
)
 
(108.1
)
Net premiums written

464.8

 
607.0

 
603.7

 
772.5

Change in unearned premiums

158.0

 
43.7

 
42.7

 
(204.0
)
Net premiums earned

622.8

 
650.7

 
646.4

 
568.5

Net investment income

49.1

 
45.7

 
42.8

 
44.5

Net realized investment (losses) gains

(38.8
)
 
(113.6
)
 
(20.2
)
 
45.0

Other income
 
1.0

 
0.7

 
0.9

 
0.9



634.1

 
583.5

 
669.9

 
658.9

EXPENSES:

 
 
 
 
 
 
 
Net losses and loss expenses

412.7

 
416.9

 
431.5

 
325.2

Acquisition costs

96.0

 
100.1

 
100.6

 
78.7

General and administrative expenses

95.0

 
105.8

 
108.4

 
97.1

Other expense
 
1.9

 
1.3

 
1.2

 
1.8

Amortization and impairment of intangible assets

3.7

 
2.7

 
2.8

 
0.6

Interest expense

18.1

 
14.5

 
14.5

 
14.3

Foreign exchange loss (gain)

0.9

 
(0.8
)
 
1.3

 
9.9



628.3

 
640.5

 
660.3

 
527.6

Income (loss) before income taxes

5.8

 
(57.0
)
 
9.6

 
131.3

Income tax expense (benefit)

4.0

 
(5.3
)
 
0.1

 
7.0

NET INCOME (LOSS)

$
1.8

 
$
(51.7
)
 
$
9.5

 
$
124.3

PER SHARE DATA


 

 

 

Basic earnings (loss) per share

0.02

 
(0.57
)
 
0.10

 
1.30

Diluted earnings (loss) per share

0.02

 
(0.57
)
 
0.10

 
1.27

Weighted average common shares outstanding

90,934,107

 
90,882,511

 
92,441,730

 
95,935,551

Weighted average common shares and common share equivalents outstanding

92,422,422

 
90,882,511

 
93,984,226

 
97,577,029