Employee Share-Based Incentive Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2013

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, 2013 and 2012 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,
	2013					2012					2013					2012
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	118,976		$	34.9		118,450		$	32.7		119,357		$	29.4		150,064		$	66.1
Shares paid or expired⁽¹⁾	—		—			—		—			(47,310	)	(11.0		)	(68,357	)	(48.4		)
New grants	250		—			2,500		—			47,170		—			38,432		—
Assumed forfeitures and cancellations⁽²⁾	(6	)	(.2		)	(1,359	)	(.4		)	3		(.2		)	(548	)	.4
Expense recognized	—		7.1			—		6.6			—		23.6			—		20.8
Ending September 30,	119,220		$	41.8		119,591		$	38.9		119,220		$	41.8		119,591		$	38.9

⁽¹⁾WTM performance share payments in 2013 for the 2010-2012 performance cycle ranged from 33% to 98% of target. WTM performance share payments in 2012 for the 2009-2011 performance cycle ranged from 147% to 155% of target.

⁽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, 2013 for each performance cycle:



Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense
Performance cycle:
2013 – 2015	47,170		$	8.0
2012 – 2014	37,977		15.8
2011 – 2013	37,130		19.1
Sub-total	122,277		42.9
Assumed forfeitures	(3,057	)	(1.1		)
Total at September 30, 2013	119,220		$	41.8

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, 2013 and 2012:



	Three Months Ended September 30,									Nine Months Ended September 30,
	2013				2012					2013				2012
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	95,380	$	24.5		93,460		$	21.5		69,910	$	16.8		72,000		$	13.3
Issued	250	.1			3,700		2.0			25,720	14.4			32,160		15.7
Vested	—	—			—		—			—	—			(7,000	)	—
Forfeited	—	—			(1,065	)	(.2		)	—	—			(1,065	)	(.2		)
Expense recognized	—	(3.8		)	—		(3.2		)	—	(10.4		)	—		(8.7		)
Non-vested at September 30,	95,630	$	20.8		96,095		$	20.1		95,630	$	20.8		96,095		$	20.1

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, 2013 and 2012 for OneBeacon performance shares granted under the OneBeacon Incentive Plan:



	Three Months Ended September 30,								Nine Months Ended September 30,
	2013			2012					2013					2012
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	489,867	$	2.4	560,577		$	3.1		563,190		$	1.2		642,667		$	9.7
Shares paid or expired⁽¹⁾	—	—		—		—			(238,658	)	—			(258,901	)	(7.8		)
New awards	—	—		—		—			179,000		—			181,290		—
Assumed forfeitures and cancellations⁽²⁾	—	—		(3,354	)	—			(13,665	)	(.1		)	(7,833	)	—
Expense recognized	—	.1		—		(2.2		)	—		1.4			—		(1.0		)
Ending September 30,	489,867	$	2.5	557,223		$	.9		489,867		$	2.5		557,223		$	.9

⁽¹⁾ There were no payments made in 2013 for the 2010-2012 performance cycle; those performance shares did not meet the threshold performance goals and expired. OneBeacon performance share payments in 2012 for the 2009-2011 performance cycle were at 138.6% of target. Amounts include deposits into OneBeacon’s deferred compensation plan.

⁽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, 2013 for each performance cycle:



Millions, except share amounts	Target OneBeacon Performance Shares Outstanding		Accrued Expense
Performance cycle:
2013 – 2015	179,000		$	.7
2012 – 2014	181,290		1.4
2011 – 2013	142,138		.5
Sub-total	502,428		2.6
Assumed forfeitures	(12,561	)	(.1		)
Total at September 30, 2013	489,867		$	2.5

Summary of OneBeacon restricted shares activity

The following summarizes the unrecognized compensation cost associated with the outstanding OneBeacon restricted share awards for the three and nine months ended September 30, 2013 and 2012:



	Three Months Ended September 30,									Nine Months Ended September 30,
	2013					2012				2013					2012
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	918,000		$	8.0		930,000	$	11.2		927,000		$	9.6		630,000	$	7.7
Issued	—		—			—	—			—		—			300,000	4.6
Vested	—		—			—	—			(9,000	)	—			—	—
Forfeited	(3,000	)	—			—	—			(3,000	)	—			—	—
Expense recognized	—		(.7		)	—	(.8		)	—		(2.3		)	—	(1.9		)
Non-vested at September 30,	915,000		$	7.3		930,000	$	10.4		915,000		$	7.3		930,000	$	10.4