Employee Share-Based Incentive Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2012

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, 2012 and 2011 for performance shares granted under the WTM Incentive Plan and phantom performance shares granted under the Sirius Group Performance Plan (the “WTM Phantom Share Plan”):



	Three Months Ended September 30,									Nine Months Ended September 30,
	2012					2011				2012					2011
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	118,450		$	32.7		150,064	$	56.5		150,064		$	66.1		163,184		$	29.4
Shares paid or expired⁽¹⁾	—		—			—	—			(68,357	)	(48.4		)	(51,131	)	—
New grants	2,500		—			—	—			38,432		—			37,675		—
Assumed forfeitures and cancellations ⁽²⁾	(1,359	)	(.4		)	—	—			(548	)	.4			336		(.6		)
Expense recognized	—		6.6			—	(1.0		)	—		20.8			—		26.7
Ending September 30,	119,591		$	38.9		150,064	$	55.5		119,591		$	38.9		150,064		$	55.5

⁽¹⁾WTM performance share payments in 2012 for the 2009-2011 performance cycle ranged from147% to 155% of target. There were no payments made in 2011 for the 2008-2010 performance cycle; those performance shares did not meet the threshold performance goals and expired.

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

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, 2012 for each performance cycle:



Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense
Performance cycle:
2010 – 2012	42,320		$	19.0
2011 – 2013	37,255		12.9
2012 – 2014	38,092		5.4
Sub-total	117,667		37.3
Assumed forfeitures	(2,941	)	(1.0		)
Total at September 30, 2012	114,726		$	36.3

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

The following table summarizes phantom performance shares outstanding and accrued expense for grants made under WTM Phantom Share Plan at September 30, 2012 for each performance cycle:



Millions, except share amounts	Target WTM Phantom Performance Shares Outstanding		Accrued Expense
Performance cycle:
2010 – 2012	4,990		$	2.7
2011 – 2013 ⁽¹⁾	—		—
2012 – 2014 ⁽¹⁾	—		—
Sub-total	4,990		2.7
Assumed forfeitures	(125	)	(.1		)
Total at September 30, 2012	4,865		$	2.6

⁽¹⁾ All performance shares for the 2011–2013 and 2012–2014 performance cycles were granted from

the WTM Incentive Plan

Summary of restricted share activity

The following outlines the unrecognized compensation cost associated with the outstanding restricted share awards for the three and nine months ended September 30, 2012 and 2011:



	Three Months Ended September 30,									Nine Months Ended September 30,
	2012					2011				2012					2011
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	93,460		$	21.5		73,500	$	18.9		72,000		$	13.3		46,250	$	14.1
Issued	3,700		2.0			—	—			32,160		15.7			27,250	9.9
Vested	—		—			—	—			(7,000	)	—			—	—
Forfeited	(1,065	)	(.2		)	—	—			(1,065	)	(.2		)	—	—
Expense recognized	—		(3.2		)	—	(2.8		)	—		(8.7		)	—	(7.9		)
Non-vested at September 30,	96,095		$	20.1		73,500	$	16.1		96,095		$	20.1		73,500	$	16.1

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, 2012 and 2011 for OneBeacon performance shares granted under the OneBeacon Incentive Plan:



	Three Months Ended September 30,										Nine Months Ended September 30,
	2012					2011					2012					2011
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	560,577		$	3.1		671,727		$	10.0		642,667		$	9.7		1,464,295		$	18.5
Payments and deferrals⁽¹⁾⁽²⁾	—		—			—		—			(258,901	)	(7.8		)	(936,150	)	(10.5		)
New awards	—		—			—		—			181,290		—			194,900		—
Assumed forfeitures and cancellations⁽³⁾	(3,354	)	—			(19,583	)	.1			(7,833	)	—			(70,901	)	(.2		)
Expense recognized	—		(2.2		)	—		(.5		)	—		(1.0		)	—		1.8
Ending September 30,	557,223		$	.9		652,144		$	9.6		557,223		$	.9		652,144		$	9.6

⁽¹⁾ OneBeacon performance share payments in 2012 for the 2009-2011 performance cycle were at 138.6% of target. OneBeacon performance shares payments in 2011 for the 2008-2010 performance cycle were at 68.5% of target. Amounts include deposits into OneBeacon’s deferred compensation plan.

⁽²⁾ OneBeacon performance share payments also include accelerated payments resulting from the OneBeacon Personal Lines and Commercial Lines Transactions. The accelerated OneBeacon performance shares payments for the 2009-2011 and 2010-2012 performance cycles were on a pro rata basis and at a performance factor of 100%.

⁽³⁾ 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, 2012 for each performance cycle:



Millions, except share amounts	Target OneBeacon Performance Shares Outstanding		Accrued Expense
Performance cycle:
2010 – 2012	238,658		$	—
2011 – 2013	151,563		.4
2012 – 2014	181,290		.5
Sub-total	571,511		.9
Assumed forfeitures	(14,288	)	—
Total at September 30, 2012	557,223		$	.9

Summary of OneBeacon Restricted Shares activity

The following outlines the unrecognized compensation cost associated with the outstanding restricted share awards for the three and nine months ended September 30, 2012:



	Three Months Ended September 30,								Nine Months Ended September 30,
	2012				2011				2012				2011
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	930,000	$	11.2		630,000	$	8.5		630,000	$	7.7		630,000	$	8.6
Issued	—	—			—	—			300,000	4.6			—	—
Vested	—	—			—	—			—	—			—	—
Forfeited	—	—			—	—			—	—			—	—
Expense recognized	—	(.8		)	—	(.4		)	—	(1.9		)	—	(.5		)
Non-vested at September 30,	930,000	$	10.4		630,000	$	8.1		930,000	$	10.4		630,000	$	8.1

Summary of OneBeacon option activity

The following table summarizes option activity for the three and nine months ended September 30, 2012 and 2011:



	Three Months Ended September 30,			Nine Months Ended September 30,
	2012	2011		2012		2011
Millions, except share amounts	Target Options Outstanding	Target Options Outstanding		Target Options Outstanding		Target Options Outstanding
Beginning of period	—	750,130		740,870		768,652
New awards	—	—		—		—
Forfeitures and cancellations	—	(9,260	)	—		(27,782	)
Vested and expired	—	—		(740,870	)	—
Exercised	—	—		—		—
Expense recognized	—	—		—		—
Ending September 30,	—	740,870		—		740,870