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Investments in Unconsolidated Affiliates (Tables)
 9 Months Ended
Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]  
Investments in and Advances to Affiliates
White Mountains’s investments in unconsolidated affiliates represent investments in other companies in which White Mountains has a significant voting and economic interest but does not control the entity.
Millions
 
September 30,
2015
 
December 31,
2014
Symetra common shares
 
$
386.9

 
$
373.8

Unrealized gains from Symetra’s fixed maturity portfolio
 
5.7

 
37.6

Carrying value of Symetra common shares
 
392.6

 
411.4

Hamer
 
—

 
3.0

Total investments in unconsolidated affiliates
 
$
392.6

 
$
414.4
Schedule of Changes in Investments in Unconsolidated Affiliates
The following table summarizes amounts recorded by White Mountains relating to its investment in Symetra for the three and nine months ended September 30, 2015 and 2014:
 
 
Three Months Ended
 
Nine Months Ended
 
 
September 30,
 
September 30,
Millions
 
2015
 
2014
 
2015
 
2014
Carrying value of investment in Symetra at beginning of period
 
$
397.2

 
$
415.5

 
$
411.4

 
$
317.3

Equity in earnings (1)(2)
 
4.2

 
7.0

 
17.5

 
34.5

 Equity in net unrealized gains (losses) from Symetra’s fixed maturity portfolio (3)
 
3.7

 
(10.7
)
 
(31.8
)
 
64.0

Dividends received
 
(12.5
)
 
(2.0
)
 
(16.9
)
 
(6.0
)
 Distribution from Prospector Offshore Fund
 
—

 
—

 
12.4

 
—

Carrying value of investment in Symetra at end of period(4)(5)
 
$
392.6

 
$
409.8

 
$
392.6

 
$
409.8


(1) For the three months ended September 30, 2015 and 2014, equity in earnings excludes tax expense of $0.3 and $0.5. For the nine months ended September 30, 2015 and 2014, equity in earnings excludes tax expense of $1.1 and $2.4.
(2) For the three months ended September 30, 2015 and 2014, equity in earnings includes $0.7 and $0.7 increase relating to the pre-tax amortization of the Symetra common share basis difference. For the nine months ended September 30, 2015 and 2014, equity in earnings includes $2.1 and $2.2 increase relating to the pre-tax amortization of the Symetra common share basis difference.
(3) For the three months ended September 30, 2015 and 2014, net unrealized gains includes $2.9 and $3.1 increase relating to the pre-tax amortization of the Symetra common share basis difference. For the nine months ended September 30, 2015 and 2014, net unrealized gains includes $8.6 and $9.4 increase relating to the pre-tax amortization of the Symetra common share basis difference.
(4) Includes White Mountains’s equity in net unrealized gains from Symetra’s fixed maturity portfolio of $5.7 and $20.5 as of September 30, 2015 and 2014, which excludes tax expense of $0.2 and $1.4.
(5) The aggregate value of White Mountains’s investment in common shares of Symetra was $650.6 based upon the quoted market price of $31.64 per share at September 30, 2015.