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Investments in Unconsolidated Affiliates (Tables)
 9 Months Ended
Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Investments in and Advances to Affiliates
White Mountains’s investments in unconsolidated affiliates represent investments in other companies in which White Mountains has a significant voting and economic interest but does not control the entity.
Millions
 
September 30,
2014
 
December 31,
2013
Symetra common shares
 
$
389.3

 
$
360.9

Unrealized gains (losses) from Symetra’s fixed maturity portfolio
 
20.5

 
(43.6
)
Carrying value of Symetra common shares
 
409.8

 
317.3

Hamer
 
3.7

 
4.1

Total investments in unconsolidated affiliates
 
$
413.5

 
$
321.4
Schedule of Changes in Investments in Unconsolidated Affiliates
The following table summarizes amounts recorded by White Mountains relating to its investment in Symetra for the three and nine months ended September 30, 2014 and 2013:
 
 
Three Months Ended
 
Three Months Ended
 
 
September 30, 2014
 
September 30, 2013
Millions
 
Common Shares
 
Warrants
 
Total
 
Common Shares
 
Warrants
 
Total
Carrying value of investment in Symetra at
    beginning of period
 
$
415.5

 
$
—

 
$
415.5

 
$
326.0

 
$
—

 
$
326.0

Equity in earnings (1)(2)
 
7.0

 
—

 
7.0

 
8.7

 
—

 
8.7

Equity in net unrealized losses from Symetra’s fixed maturity portfolio(3)
 
(10.7
)
 
—

 
(10.7
)
 
(7.7
)
 
—

 
(7.7
)
Dividends received
 
(2.0
)
 
—

 
(2.0
)
 
(1.8
)
 
—

 
(1.8
)
Increase in value of warrants
 
—

 
—

 
—

 
—

 
—

 
—

Exercise of warrants
 
—

 
—

 
—

 
—

 
—

 
—

Carrying value of investment in Symetra at
   end of period(4)(5)
 
$
409.8

 
$
—

 
$
409.8

 
$
325.2

 
$
—

 
$
325.2

(1) Equity in earnings excludes tax expense of $0.5 and $0.6.
(2) Equity in earnings includes $0.7 and $0.7 increase relating to the pre-tax amortization of the Symetra common share basis difference.
(3) Net unrealized gains includes $3.1 and $3.1 increase relating to the pre-tax amortization of the Symetra common share basis difference.
(4) Includes White Mountains’s equity in net unrealized gains (losses) from Symetra’s fixed maturity portfolio of $20.5 and $(25.5) as of September 30, 2014 and 2013, which excludes tax (expense) benefit of $(1.4) and $2.0.
(5) The aggregate value of White Mountains’s investment in common shares of Symetra was $455.1 based upon the quoted market price of $22.70 per share at September 30, 2014.
 
 
Nine Months Ended
 
Nine Months Ended
 
 
September 30, 2014
 
September 30, 2013
Millions
 
Common Shares
 
Warrants
 
Total
 
Common Shares
 
Warrants
 
Total
Carrying value of investment in Symetra at
    beginning of period
 
$
317.3

 
$
—

 
$
317.3

 
$
351.2

 
$
30.3

 
$
381.5

Equity in earnings (1)(2)
 
34.5

 
—

 
34.5

 
25.7

 
—

 
25.7

Equity in net unrealized gains (losses) from Symetra’s fixed maturity portfolio(3)
 
64.0

 
—

 
64.0

 
(88.2
)
 
—

 
(88.2
)
Dividends received
 
(6.0
)
 
—

 
(6.0
)
 
(4.6
)
 
—

 
(4.6
)
Increase in value of warrants
 
—

 
—

 
—

 
—

 
10.8

 
10.8

Exercise of warrants
 
—

 
—

 
—

 
41.1

 
(41.1
)
 
—

Carrying value of investment in Symetra at
   end of period(4)(5)
 
$
409.8

 
$
—

 
$
409.8

 
$
325.2

 
$
—

 
$
325.2


(1) Equity in earnings excludes tax expense of $2.4 and $2.0.
(2) Equity in earnings includes $2.2 and $2.2 increase relating to the pre-tax amortization of the Symetra common share basis difference.
(3) Net unrealized gains includes $9.4 and $8.6 increase relating to the pre-tax amortization of the Symetra common share basis difference.
(4) Includes White Mountains’s equity in net unrealized gains (losses) from Symetra’s fixed maturity portfolio of $20.5 and $(25.5) as of September 30, 2014 and 2013, which excludes tax (expense) benefit of $(1.4) and $2.0.
(5) The aggregate value of White Mountains’s investment in common shares of Symetra was $455.1 based upon the quoted market price of $22.70 per share at September 30, 2014.