Business and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Effect of Retrospective Adoption on Individual Financial Statement Line Items in Consolidated Balance Sheet

The effects of the retrospective adoption on individual financial statement line items in our Consolidated Balance Sheets were as follows:

	December 31, 2011
	As Previously				Effect of
(in millions)	Reported		As Adjusted		Change
Reinsurance recoverables	$	1,143.5	$	1,144.1	$	0.6
Deferred acquisition costs, net		125.7		101.5		(24.2	)
Deferred tax liabilities, net		26.1		18.5		(7.6	)
Retained earnings		752.0		736.0		(16.0	)

Schedule of Effect of Retrospective Adoption on Individual Financial Statement Line Items in Consolidated Statement of Income (Loss)

The effects of the retrospective adoption on individual financial statement line items in our Consolidated Statements of (Loss) Income were as follows:

	For the Year Ended December 31, 2011
	As Previously						Effect of
(in millions, except per share data)	Reported			As Adjusted			Change
Underwriting, acquisition and insurance expenses	$	426.7		$	425.7		$	(1.0	)
Loss before income taxes		(62.9	)		(61.9	)		1.0
Provision for income taxes		19.5			20.0			0.5
Net loss		(82.4	)		(81.9	)		0.5
Net loss per common share:
Basic	$	(3.03	)	$	(3.02	)	$	0.01
Diluted		(3.03	)		(3.02	)		0.01

	For the Year Ended December 31, 2010
	As Previously				Effect of
(in millions, except per share data)	Reported		As Adjusted		Change
Underwriting, acquisition and insurance expenses	$	472.6	$	466.0	$	(6.6	)
Income before income taxes		115.3		121.9		6.6
Provision for income taxes		32.7		35.2		2.5
Net income		82.6		86.7		4.1
Net income per common share:
Basic	$	2.80	$	2.93	$	0.13
Diluted		2.76		2.90		0.14

Effects of Retrospective Adoption on Individual Financial Statement Line Items in Consolidated Statements of Comprehensive (Loss) Income

The effects of the retrospective adoption on individual financial statement line items in our Consolidated Statements of Comprehensive (Loss) Income were as follows:

	For the Year Ended December 31, 2011
	As Previously						Effect of
(in millions)	Reported			As Adjusted			Change
Net loss	$	(82.4	)	$	(81.9	)	$	0.5
Comprehensive loss		(90.2	)		(89.7	)		0.5

	For the Year Ended December 31, 2010
	As Previously				Effect of
(in millions)	Reported		As Adjusted		Change
Net income	$	82.6	$	86.7	$	4.1
Comprehensive income		122.8		126.9		4.1

Summary Of Receivables

For the years ended December 31, 2012, 2011 and 2010, premiums receivable and reinsurance recoverables on paid losses written off, net of recoveries against the allowance for doubtful accounts or directly to the income statement are as follows:

(in millions)	2012			2011		2010
Premiums receivable	$	0.3		$	0.9	$	(1.1	)
Reinsurance recoverables		(0.4	)		11.4		(0.4	)
Net (recovered) written off	$	(0.1	)	$	12.3	$	(1.5	)

Intangible Assets And Accumulated Amortization

The following table presents our intangible assets and accumulated amortization at December 31, 2012 and 2011:

	December 31, 2012				December 31, 2011
	Gross Carrying		Accumulated		Gross Carrying		Accumulated
(in millions)	Amount		Amortization		Amount		Amortization
Lloyd’s capacity	$	60.5		n/a	$	60.5		n/a
Title plant		1.8		n/a		1.8		n/a
Distribution network		44.2		18.0		40.4		13.9
Additional Lloyd’s capacity		4.8		2.3		4.8		1.2
Other		1.5		1.0		1.5		0.9
	$	112.8	$	21.3	$	109.0	$	16.0

Supplemental Cash Flow Information

Interest paid. Interest paid for the years ended December 31, was as follows:

(in millions)	2012		2011		2010
Senior unsecured fixed rate notes	$	2.1	$	0.0	$	0.0
Other indebtedness		3.1		3.5		3.1
Junior subordinated debentures		21.3		18.3		19.3
Revolving credit facility		0.0		0.0		0.1
Total interest paid	$	26.5	$	21.8	$	22.5