Employee Share-Based Incentive Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2016

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

The following table summarizes performance share activity for the three months ended March 31, 2016 and 2015 for performance shares granted under the WTM Incentive Plan:



	Three Months Ended March 31,
	2016					2015
Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense
Beginning of period	96,211		$	58.2		113,198		$	44.4
Shares paid or expired⁽¹⁾	—		—			(34,001	)	(24.9		)
New grants	16,215		—			29,078		—
Assumed forfeitures and cancellations⁽²⁾	(1,186	)	(.6		)	123		.5
Expense recognized	—		14.2			—		5.7
End of period⁽³⁾	111,240		$	71.8		108,398		$	25.7

⁽¹⁾WTM performance share payments in 2016 for the 2013-2015 performance cycle, which were paid in April 2016, ranged from 140% to 142% of target. WTM performance share payments in 2015 for the 2012-2014 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 March 31, 2016 and 2015 both exclude 7,998 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 March 31, 2016 for each performance cycle:



Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense
Performance cycle:
2016 – 2018	16,215		$	1.0
2015 – 2017	29,428		12.8
2014 – 2016	32,157		18.7
2013 – 2015	36,293		41.1
Sub-total	114,093		73.6
Assumed forfeitures	(2,853	)	(1.8		)
Total at March 31, 2016	111,240		$	71.8

Summary of restricted share activity

The following table summarizes the unrecognized compensation cost associated with the outstanding restricted share awards for the three months ended March 31, 2016 and 2015:



	Three Months Ended March 31,
	2016					2015
Millions, except share amounts	Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value
Non-vested,
Beginning of period	70,675		$	15.7		83,314		$	14.3
Issued	21,215		16.3			22,890		15.2
Vested	(24,620	)	—			(35,079	)	—
Forfeited	(800	)	.2			—		—
Expense recognized	—		(3.0		)	—		(3.0		)
End of period ⁽¹⁾	66,470		$	29.2		71,125		$	26.5

⁽¹⁾ Outstanding restricted share awards as of March 31, 2016 and 2015 include 2,512 and 3,572 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 months ended March 31, 2016 and 2015 for OneBeacon performance shares granted under the OneBeacon Incentive Plan:



	Three Months Ended March 31,
	2016					2015
Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense
Beginning of period	449,435		$	1.4		517,470		$	3.4
Shares paid or expired⁽¹⁾	(167,300	)	(.7		)	(181,290	)	(1.5		)
New grants	163,150		—			154,887		—
Assumed forfeitures and cancellations⁽²⁾	(4,079	)	—			(28,920	)	—
Expense recognized	—		.4			—		.2
End of period	441,206		$	1.1		462,147		$	2.1

⁽¹⁾ OneBeacon performance share payments in 2016 for the 2013-2015 performance cycle were at 24.3% of target. OneBeacon performance share payments in 2015 for the 2012-2014 performance cycle were at 45.7% 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 March 31, 2016 for each performance cycle:



Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense
Performance cycle:
2016 – 2018	163,150		$	.1
2015 – 2017	146,659		.8
2014 – 2016	142,710		.2
Sub-total	452,519		1.1
Assumed forfeitures	(11,313	)	—
Total at March 31, 2016	441,206		$	1.1

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 months ended March 31, 2016 and 2015:



	Three Months Ended March 31,
	2016					2015
Millions, except share amounts	Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value
Non-vested,
Beginning of period	382,722		$	2.5		612,500		$	3.5
Issued	170,650		2.3			75,950		1.1
Vested	(157,500	)	—			(296,000	)	—
Forfeited	—		—			(1,500	)	—
Expense recognized	—		(.5		)	—		(.6		)
End of period	395,872		$	4.3		390,950		$	4.0