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Share-Based Compensation and Pensions (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Compensation Cost for Share-based Compensation Plans The table below provides a summary of the compensation costs for all of our share-based compensation plans for the years ended December 31, 2019, 2018 and 2017:
 
2019
 
2018
 
2017
Share-based compensation plans:
 
 
 
 
 
Restricted shares and restricted share units
$
6,564

 
$
7,641

 
$
7,302

Performance share units
23,582

 
1,968

 
5,832

Cash-settled stock appreciation rights
2,575

 
(3,316
)
 
8,875

Other share-based compensation plans:
 
 
 
 
 
Northshore incentive plan
3,652

 
2,792

 
3,156

StarStone incentive plan
223

 
—

 
—

Deferred compensation and ordinary share plan for non-employee directors
992

 
1,155

 
758

Employee share purchase plan
411

 
430

 
403

Total share-based compensation
$
37,999

 
$
10,670

 
$
26,326


The following table summarizes the number of units outstanding for the years ended December 31, 2019, 2018 and 2017 under the Enstar Group Limited Deferred Compensation and Ordinary Share Plan for Non-Employee Directors (the "Deferred Compensation Plan"):
 
2019
 
2018
 
2017
Restricted share units credited to the accounts of non-employee directors
5,976

 
5,691

 
3,852


The following table summarizes the number of shares issued to employees under the Employee Share Purchase Plan for the years ended December 31, 2019, 2018 and 2017:
 
2019
 
2018
 
2017
Number of shares issued to employees
15,269

 
14,183

 
12,401


The table below summarizes the pension expenses related to our Defined Contribution Plans and our Defined Benefit Plan for the years ended December 31, 2019, 2018 and 2017.
 
2019
 
2018
 
2017
Defined contribution plans
$
11,798

 
$
11,434

 
$
12,247

Defined benefit plan
684

 
2,243

 
1,988

Total pension expense
$
12,482

 
$
13,677

 
$
14,235
Restricted Shares, Restricted Share Units and Performance Share Units The following table summarizes the activity related to restricted shares and restricted share awards during 2019:
 
Number of
Shares
 
Weighted-Average Share Price
Nonvested — January 1
59,936

 
$191.89
Granted
50,054

 
176.16
Vested
(42,462
)
 
189.98
Forfeited
(2,956
)
 
206.85
Nonvested — December 31
64,572

 
180.49

The following table summarizes the activity related to PSUs during 2019:
 
Number of
Shares
 
Weighted-Average Share Price
Nonvested — January 1
159,168

 
$190.77
Granted
36,616

 
166.42
Increase for above target vest
27,641

 
188.62
Vested
(2,631
)
 
195.60
Forfeited
(13,845
)
 
198.37
Nonvested — December 31
206,949

 
185.61

The following table summarizes the awards granted, the unvested PSU awards at December 31, 2019, and the performance criteria and associated performance multipliers at various levels of achievement.
Grant Year
 
Inception-to-date Activity Roll-forward
 
Performance Criteria:
Change in FDBVPS (3 year)
 
Performance Multiplier
Levels Per Award Agreements
PSUs Granted
at Target
 
Forfeited
 
Estimated Change in Multiplier
 
Nonvested at December 31, 2019
 
Threshold
 
Target
 
Maximum
 
Threshold
 
Target
 
Maximum
2017
 
36,321

 
(12,176
)
 
9,560

 
33,705

 
20.00
%
 
30.00
%
 
40.00
%
 
50.00
%
 
100.00
%
 
150.00
%
2017
 
91,875

 
—

 
18,081

 
109,956

 
30.30
%
 
35.65
%
 
41.00
%
 
50.00
%
 
100.00
%
 
150.00
%
2018
 
39,682

 
(11,414
)
 
—

 
28,268

 
25.00
%
 
32.50
%
 
40.00
%
 
50.00
%
 
100.00
%
 
150.00
%
2019
 
18,308

 
(798
)
 
—

 
17,510

 
20.00
%
 
30.00
%
 
40.00
%
 
60.00
%
 
100.00
%
 
150.00
%
 
 
186,186

 
(24,388
)
 
27,641

 
189,439

 
 
 
 
 
 
 
 
 
 
 
 
Summary of Performance Share Units and Performance Criteria and Multiplier
The following table summarizes the awards granted, the unvested units at December 31, 2019, and the performance criteria and associated performance multipliers at various levels of achievement.
Grant Year
 
Inception-to-date Activity Roll-forward
 
Performance Criteria:
Average Annual Operating ROE
 
Performance Multiplier
Levels Per Award Agreements
PSUs Granted
at Target
 
Forfeited
 
Estimated Change in Multiplier
 
Nonvested at December 31, 2019
 
Threshold
 
Target
 
Maximum
 
Threshold
 
Target
 
Maximum
2019
 
18,308

 
(798
)
 
—

 
17,510

 
9.60
%
 
12.00
%
 
14.40
%
 
60.00
%
 
100.00
%
 
150.00
%
Summary of Performance Multipliers At the end of each reporting period, we estimate the expected performance multiplier, as shown in the table below:
Award Description
 
2019
 
2018
 
2017
2017 FDBVPS Type I (30.00% Target Change)
 
139%
 
50%
 
100%
2017 FDBVPS Type II (35.65% Target Change)
 
120%
 
50%
 
100%
2018 FDBVPS
 
100%
 
50%
 
n/a
2019 FDBVPS
 
100%
 
n/a
 
n/a
2019 Average Operating ROE
 
100%
 
n/a
 
n/a
Summary of SARs Activity
The following table summarizes the activity related to SARs during 2019:
 
Number of
SARs
 
Weighted-Average Exercise Price of SARs
 
Weighted-Average Expected Term (in years)
 
Aggregate
Intrinsic  Value(1)
Balance, beginning of year
109,081

 
$
142.37

 
 
 
 
Exercised
(19,854
)
 
138.07

 
 
 
 
Balance, end of year
89,227

 
143.33

 
2.39
 
$
6,133

(1) The aggregate intrinsic value is calculated as the pre-tax difference between the exercise price of the underlying share awards and the closing price per share of our ordinary shares of $206.86 on December 31, 2019.
Assumptions Used to Estimate Fair Value of SARs Using Black-Scholes Option Valuation Model
The following table sets forth the assumptions used to estimate the fair value of the SARs using the Black-Scholes option valuation model as of December 31, 2019, 2018 and 2017:
 
2019
 
2018
 
2017
Weighted-average fair value per SAR
$
76.03

 
$
45.85

 
$
75.38

Weighted-average volatility
19.75
%
 
18.94
%
 
19.44
%
Weighted-average risk-free interest rate
1.64
%
 
2.72
%
 
1.65
%
Dividend yield
0.00
%
 
0.00
%
 
0.00
%