Employee Share-Based Incentive Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2015

White Mountains

Share-based compensation arrangement by share-based payment award

Summary of performance share activity

The following summarizes performance share activity for the years ended December 31, 2015, 2014 and 2013 for performance shares granted under the WTM Incentive Plan and the WTM Phantom Share Plan:

	Year Ended December 31,
	2015					2014					2013
$ in millions	Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense
Beginning of period	113,198		$	44.4		108,605		$	54.9		108,065		$	26.5
Shares paid or expired(1)	(42,958	)	(30.8		)	(33,730	)	(24.5		)	(43,100	)	(10.1		)
New grants	29,828		—			41,580		—			43,660		—
Assumed forfeitures and cancellations(2)(3)	(3,857	)	(.3		)	(3,257	)	(.1		)	(20	)	(.6		)
Expense recognized	—		44.4			—		14.1			—		39.1
End of period (4)	96,211		$	57.7		113,198		$	44.4		108,605		$	54.9

⁽¹⁾  WTM performance share payments in 2015 for the 2012-2014 performance cycle ranged from 91% to 145.5% of target. WTM performance shares payments in 2014 for the 2011-2013 performance cycle ranged from 88% to 131.5% of target. WTM performance shares payments in 2013 for the 2010-2012 performance cycle ranged from 33% to 98% of target.

⁽²⁾  On November 19, 2014, the Compensation Committee canceled 3,040 WTM performance shares for the 2014-2016 performance cycle and issued the same number of WTM restricted shares.

⁽³⁾  Amounts include changes in assumed forfeitures, as required under GAAP.

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

The following table summarizes performance shares outstanding and accrued expense for performance shares awarded under the WTM Incentive Plan as of December 31, 2015 for each performance cycle:

$ in millions	Target WTM Performance Shares Outstanding		Accrued Expense
Performance cycle:
2015 – 2017	29,828		$	8.3
2014 – 2016	32,557		12.9
2013 – 2015	36,293		38.0
Sub-total	98,678		59.2
Assumed forfeitures	(2,467	)	(1.5		)
Total at December 31, 2015	96,211		$	57.7

Schedule of Nonvested Restricted Stock Activity [Table Text Block]

The following outlines the unrecognized compensation cost associated with the outstanding restricted share awards under the WTM Incentive Plan for the years ended December 31, 2015, 2014 and 2013:

	Year Ended December 31,
	2015					2014					2013
$ in millions	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	83,314		$	14.3		94,130		$	17.0		69,910		$	16.8
Issued (1)	23,640		15.7			23,440		13.1			25,720		14.4
Vested	(36,279	)	—			(33,205	)	—			(1,500	)	—
Forfeited	—		—			(1,051	)	(.5		)	—		—
Expense recognized	—		(14.3		)	—		(15.3		)	—		(14.2		)
End of period (2)	70,675		$	15.7		83,314		$	14.3		94,130		$	17.0

⁽¹⁾  On November 19, 2014, the Compensation Committee canceled 3,040 WTM performance shares for the 2014-2016 performance cycle and issued the same number of WTM restricted shares.

OneBeacon

Share-based compensation arrangement by share-based payment award

Summary of performance share activity

The following summarizes activity for the years ended December 31, 2015, 2014 and 2013 for OneBeacon performance shares granted under the OneBeacon Incentive Plan:

	Year Ended December 31,
	2015					2014					2013
$ in millions	Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense
Beginning of period	517,470		$	3.4		493,421		$	4.0		563,190		$	1.2
Payments and deferrals(1)	(181,290	)	(1.5		)	(142,138	)	(1.0		)	(238,658	)	—
New awards	154,887		—			165,800		—			179,000		—
Forfeitures and cancellations(2)	(41,632	)	(.1		)	387		—			(10,111	)	(.1		)
Expense recognized	—		(.4		)	—		.4			—		2.9
End of period	449,435		$	1.4		517,470		$	3.4		493,421		$	4.0

⁽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. No payments were made in 2013 for the 2010-2012 OneBeacon performance cycle as the performance factor was zero.

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

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

The following summarizes OneBeacon performance shares outstanding awarded under the OneBeacon Incentive Plan as of December 31, 2015 for each performance cycle:

$ in millions	Target OneBeacon Performance Shares Outstanding		Accrued Expense
Performance cycle:
2015 – 2017	146,659		$	.7
2014 – 2016	142,710		.1
2013 – 2015	167,300		.6
Sub-total	456,669		1.4
Assumed forfeitures	(7,234	)	—
Total at December 31, 2015	449,435		$	1.4

Schedule of Nonvested Restricted Stock Activity [Table Text Block]

The following table summarizes the unrecognized compensation cost associated with the outstanding OneBeacon restricted stock awards for the years ended December 31, 2015, 2014 and 2013.

	Year Ended December 31,
	2015					2014					2013
$ in millions	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	612,500		$	3.5		915,000		$	6.5		927,000		$	9.6
Issued	75,950		1.1			—		—			—		—
Vested	(296,000	)	—			(300,000	)	—			(9,000	)	—
Forfeited	(9,728	)	(.1		)	(2,500	)	—			(3,000	)	—
Expense recognized	—		(2.0		)	—		(3.0		)	—		(3.1		)
End of period	382,722		$	2.5		612,500		$	3.5		915,000		$	6.5