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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operations:      
Net income $ 279.5 $ 290.0 $ 309.1
Charges (credits) to reconcile net income to net cash (used for) provided from operations:      
Net realized and unrealized investment gains (225.4) (78.5) (133.9)
Net gain on sale of consolidated and unconsolidated affiliates (16.1) 0.0 (21.3)
Amortization and depreciation 67.5 38.2 28.6
Deferred income tax expense (benefit) 5.1 (22.5) 10.1
Undistributed equity in earnings from unconsolidated affiliates, after-tax (25.1) (45.6) (36.6)
Net income from discontinued operations (80.6) (260.2) (99.9)
Net (gain) loss on sale of other discontinued operations (18.2) 1.6 (46.6)
Other operating items:      
Net change in loss and loss adjustment expense reserves (45.8) (282.2) (54.3)
Net change in reinsurance recoverable on paid and unpaid losses (20.1) (83.2) 20.7
Net change in unearned insurance premiums 4.1 (57.6) 15.8
Net change in ceded reinsurance premiums payable (3.7) 11.5 10.2
Net change in ceded unearned insurance premiums (11.6) (3.5) (2.8)
Net change in insurance premiums receivable 17.8 (8.8) (2.6)
Net change in variable annuity benefit guarantee liabilities (0.4) (53.5) (388.7)
Net change in variable annuity benefit derivative instruments 36.3 12.7 29.1
Net change in deferred acquisition costs (0.4) (1.8) 18.5
Net change in funds held under insurance contracts 56.7 17.7 57.4
Net change in restricted cash 17.9 32.4 193.7
Net change in other assets and liabilities, net 40.1 (127.5) (23.0)
Net cash provided from (used for) continuing operations 161.0 58.8 (39.5)
Net cash provided from (used for) discontinued operations 14.7 60.0 (61.5)
Net cash provided from (used for) operations 175.7 118.8 (101.0)
Cash flows from investing activities:      
Net change in short-term investments 140.0 (138.0) 64.6
Sales of fixed maturity and convertible investments 1,281.7 2,210.8 1,925.3
Maturities, calls and paydowns of fixed maturity and convertible investments 335.0 452.4 280.9
Sales of common equity securities 461.4 609.8 435.0
Distributions and redemptions of other long-term investments 84.7 64.5 31.6
Sales of unconsolidated affiliates, net of cash sold and held in escrow 24.0 0.0 32.4
Contributions to other long-term investments (78.0) (114.7) (22.0)
Funding of operational cash flows for discontinued operations 17.5 (88.1) (72.3)
Purchases of common equity securities (409.9) (289.7) (366.5)
Purchases of fixed maturity and convertible investments (1,867.2) (2,456.1) (2,047.9)
Purchases of consolidated and unconsolidated affiliates (net of cash acquired) (37.1) (190.1) 0.0
Net change in unsettled investment purchases and sales (4.6) (44.7) 3.7
Net dispositions (acquisitions) of property and equipment 32.5 (4.0) (11.7)
Net cash (used for) provided from investing activities — continuing operations (20.0) 12.1 253.1
Net cash provided from investing activities — discontinued operations 31.3 35.8 148.7
Net cash provided from investing activities 11.3 47.9 401.8
Cash flows from financing activities:      
Draw down of debt and revolving line of credit 195.5 133.6 200.0
Repayment of debt and revolving line of credit (95.6) (66.5) (275.0)
Change in capital lease obligation (5.4) (5.3) (5.7)
Cash dividends paid to the Company’s common shareholders (6.0) (6.2) (6.2)
Cash dividends paid to OneBeacon Ltd.’s non-controlling common shareholders (19.7) (19.8) (19.9)
Distribution to non-controlling interest shareholders of Tranzact and MediaAlpha (9.1) 0.0 0.0
Distributions from contributions to discontinued operations (12.1) 37.9 69.6
Common shares repurchased (268.6) (128.2) (79.8)
OneBeacon Ltd. common shares repurchased and retired (3.7) (1.7) 0.0
Capital contributions from non-controlling interest of consolidated LPs 0.0 4.9 1.6
Redemptions paid to non-controlling interest of consolidated LPs 0.0 (5.5) (0.7)
Payments of distributions from subsidiaries to shareholders (10.0) (25.8) 0.0
Capital contributions from BAM members 29.2 16.2 17.1
Net cash used for financing activities — continuing operations (205.5) (66.4) (99.0)
Net cash (used for) provided from financing activities — discontinued operations (9.1) (63.2) (87.5)
Net cash used for financing activities (214.6) (129.6) (186.5)
Effect of exchange rate changes on cash (excludes (4.5), (14.3) and (.2) related to discontinued operations 0.0 0.0 0.0
Net change in cash during the period - continuing operations (64.5) 4.5 114.6
Cash balance at beginning of year 238.0 233.5 118.9
Cash balance at end of year $ 173.5 $ 238.0 $ 233.5