Employee Share-Based Incentive Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following table summarizes performance share activity for the three and nine months ended September 30, 2015 and 2014 for performance shares granted under the WTM Incentive Plan:



	Three Months Ended September 30,									Nine Months Ended September 30,
	2015					2014				2015					2014
Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding	Accrued Expense			Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense
Beginning of period	109,129		$	28.8		116,259	$	46.3		113,198		$	44.4		108,605		$	54.9
Shares paid or expired⁽¹⁾	(8,958	)	(5.5		)	—	—			(42,958	)	(30.7		)	(33,730	)	(24.1		)
New grants	—		—			—	—			29,828		—			41,580		—
Assumed forfeitures and cancellations⁽²⁾	(3,960	)	(.8		)	—	(.2		)	(3,857	)	(.3		)	(196	)	—
Expense recognized	—		30.0			—	6.3			—		39.1			—		21.6
End of period⁽³⁾	96,211		$	52.5		116,259	$	52.4		96,211		$	52.5		116,259		$	52.4

⁽¹⁾WTM performance share payments in 2015 for the 2012-2014 performance cycle ranged from 91% to 145.5% of target. WTM performance share payments in 2014 for the 2011-2013 performance cycle ranged from 88% to 131.5% of target.

⁽²⁾Amounts include changes in assumed forfeitures, as required under GAAP.

⁽³⁾Outstanding performance share awards as of September 30, 2015 and 2014 exclude 7,997 and 11,278 performance share awards, net of assumed forfeitures, granted to employees of Sirius Group, which is accounted for as discontinued operations.

Summary of performance shares outstanding and accrued expense for performance shares awarded under the WTM Incentive Plan

The following table summarizes performance shares outstanding and accrued expense for performance shares awarded under the WTM Incentive Plan at September 30, 2015 for each performance cycle:



Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense
Performance cycle:
2015 – 2017	29,828		$	6.3
2014 – 2016	32,557		12.3
2013 – 2015	36,293		35.4
Sub-total	98,678		54.0
Assumed forfeitures	(2,467	)	(1.5		)
Total at September 30, 2015	96,211		$	52.5

Summary of restricted share activity

The following table summarizes the unrecognized compensation cost associated with the outstanding restricted share awards for the three and nine months ended September 30, 2015 and 2014:



	Three Months Ended September 30,									Nine Months Ended September 30,
	2015					2014				2015					2014
Millions, except share amounts	Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares	Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value
Non-vested,
Beginning of period	68,303		$	21.9		79,011	$	20.5		80,050		$	13.7		90,341		$	16.4
Issued	—		—			—	—			22,078		14.7			20,400		11.8
Vested	(1,200	)	—			—	—			(35,025	)	—			(31,730	)	—
Forfeited	—		—			—	—			—		—			—		—
Expense recognized	—		(3.5		)	—	(3.2		)	—		(10.0		)	—		(10.9		)
End of period ⁽¹⁾	67,103		$	18.4		79,011	$	17.3		67,103		$	18.4		79,011		$	17.3

⁽¹⁾ Outstanding restricted share awards as of September 30, 2015 and 2014 exclude 3,571 and 2,314 restricted shares issued to employees of Sirius Group, which is accounted for as discontinued operations.

Summary of performance share activity for OneBeacon performance shares granted under OneBeacon Incentive Plan

The following table summarizes performance share activity for the three and nine months ended September 30, 2015 and 2014 for OneBeacon performance shares granted under the OneBeacon Incentive Plan:



	Three Months Ended September 30,							Nine Months Ended September 30,
	2015				2014			2015					2014
Millions, except share amounts	Target Performance Shares Outstanding	Accrued Expense			Target Performance Shares Outstanding	Accrued Expense		Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense
Beginning of period	462,147	$	2.4		512,938	$	4.4	517,470		$	3.4		493,421		$	4.0
Shares paid or expired⁽¹⁾	—	—			—	—		(181,290	)	(1.5		)	(142,138	)	(1.0		)
New grants	—	—			—	—		154,887		—			165,800		—
Assumed forfeitures and cancellations⁽²⁾	—	—			—	—		(28,920	)	—			(4,145	)	—
Expense recognized	—	(.3		)	—	1.1		—		.2			—		2.5
End of period	462,147	$	2.1		512,938	$	5.5	462,147		$	2.1		512,938		$	5.5

⁽¹⁾ OneBeacon performance share payments in 2015 for the 2012-2014 performance cycle were at 45.7% of target. OneBeacon performance share payments in 2014 for the 2011-2013 performance cycle were at 37.1% of target.

⁽²⁾ Amounts include changes in assumed forfeitures, as required under GAAP.

Summary of OneBeacon performance shares outstanding and accrued expense for OneBeacon performance shares awarded under the OneBeacon Incentive Plan

The following table summarizes OneBeacon performance shares outstanding awarded under the OneBeacon Incentive Plan at September 30, 2015 for each performance cycle:



Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense
Performance cycle:
2015 – 2017	154,887		$	.5
2014 – 2016	151,810		.3
2013 – 2015	167,300		1.3
Sub-total	473,997		2.1
Assumed forfeitures	(11,850	)	—
Total at September 30, 2015	462,147		$	2.1

Summary of OneBeacon restricted shares activity

The following table summarizes the unrecognized compensation cost associated with the outstanding OneBeacon restricted stock awards for the three and nine months ended September 30, 2015 and 2014:



	Three Months Ended September 30,								Nine Months Ended September 30,
	2015				2014				2015					2014
Millions, except share amounts	Restricted Shares	Unamortized Issue Date Fair Value			Restricted Shares	Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value
Non-vested,
Beginning of period	390,950	$	3.5		612,500	$	4.9		612,500		$	3.5		915,000		$	6.5
Issued	—	—			—	—			75,950		1.1			—		—
Vested	—	—			—	—			(296,000	)	—			(300,000	)	—
Forfeited	—	—			—	—			(1,500	)	—			(2,500	)	—
Expense recognized	—	(.5		)	—	(.7		)	—		(1.6		)	—		(2.3		)
End of period	390,950	$	3.0		612,500	$	4.2		390,950		$	3.0		612,500		$	4.2