-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, R04Px2f5Z9mDEXHgIpmPMRMHbT6wuT/IXD6qXURVKhsr1X7bbRw253cX5K68UMFu qnH4IxFfQGls8M1odHXHOw== 0000950123-10-078376.txt : 20100817 0000950123-10-078376.hdr.sgml : 20100817 20100817110619 ACCESSION NUMBER: 0000950123-10-078376 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 20100630 FILED AS OF DATE: 20100817 DATE AS OF CHANGE: 20100817 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ASPEN INSURANCE HOLDINGS LTD CENTRAL INDEX KEY: 0001267395 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 000000000 STATE OF INCORPORATION: D0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-31909 FILM NUMBER: 101022137 BUSINESS ADDRESS: STREET 1: MAXWELL ROBERTS BUILDING STREET 2: 1 CHURCH STREET CITY: HAMILTON HM 11 STATE: D0 ZIP: HM 11 BUSINESS PHONE: 1 441 295 8201 MAIL ADDRESS: STREET 1: MAXWELL ROBERTS BUILDING STREET 2: 1 CHURCH STREET CITY: HAMILTON HM 11 BERMUDA STATE: D0 ZIP: 999999999 10-Q/A 1 u09558e10vqza.htm FORM 10-Q/A e10vqza
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
 
 
Form 10-Q/A
 
 
     
þ
  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the Period Ended June 30, 2010
or
o
  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
Commission file number 001-31909
 
 
 
 
ASPEN INSURANCE HOLDINGS LIMITED
(Exact Name of Registrant as Specified in Its Charter)
 
     
Bermuda
(State or other jurisdiction of
incorporation or organization)
  Not Applicable
(I.R.S. Employer
Identification No.)
Maxwell Roberts Building
1 Church Street
Hamilton, Bermuda
(Address of principal executive offices)
  HM 11
(Zip Code)
 
Registrant’s telephone number, including area code
(441) 295-8201
 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periods that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes þ     No o
 
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes o     No o
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
 
Large accelerated filer þ Accelerated filer o Non-accelerated filer o Smaller reporting company o
(Do not check if a smaller reporting company)
 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes o     No þ
 
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
 
As of August 5, 2010, there were 76,692,577 outstanding ordinary shares, with a par value of 0.15144558¢ per ordinary share, outstanding.
 


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ASPEN INSURANCE HOLDINGS LIMITED EXPLANATORY NOTE
 
This Form 10-Q/A is being filed solely to present the financial information in the Extensible Business Reporting Language (XBRL) format and the information and content is the same as the Form 10-Q filed August 6, 2010. Exhibit 101 consists of information from Aspen Insurance Holding Limited’s Form 10-Q formatted in XBRL as follows:
 
         
  101 . INS   XBRL Instance Document
  101 . SCH   XBRL Taxonomy Extension Schema Document
  101 . CAL   XBRL Taxonomy Extension Calculation Linkbase Document
  101 . PRE   XBRL Taxonomy Extension Presentation Linkbase Document
 
 
No other changes have been made to the Form 10-Q.


1


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PART II OTHER INFORMATION
Item 6. Exhibits
SIGNATURES
EX-101 INSTANCE DOCUMENT
EX-101 SCHEMA DOCUMENT
EX-101 CALCULATION LINKBASE DOCUMENT
EX-101 LABELS LINKBASE DOCUMENT
EX-101 PRESENTATION LINKBASE DOCUMENT
EX-101 DEFINITION LINKBASE DOCUMENT


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PART II
 
OTHER INFORMATION
 
Item 6.   Exhibits
 
(a) The following sets forth those exhibits filed pursuant to Item 601 of Regulation S-K:
 
         
Exhibit
   
Number
 
Description
 
  31 .1   Officer Certification of Christopher O’Kane, Chief Executive Officer of Aspen Insurance Holdings Limited, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, filed with this report.*
  31 .2   Officer Certification of Richard Houghton, Chief Financial Officer of Aspen Insurance Holdings Limited, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, filed with this report.*
  32 .1   Officer Certification of Christopher O’Kane, Chief Executive Officer of Aspen Insurance Holdings Limited, and Richard Houghton, Chief Financial Officer of Aspen Insurance Holdings Limited, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, submitted with this report.*
  101 . INS   XBRL Instance Document**
  101 . SCH   XBRL Taxonomy Extension Schema Document**
  101 . CAL   XBRL Taxonomy Extension Calculation Linkbase Document**
  101 . PRE   XBRL Taxonomy Extension Presentation Linkbase Document**
 
 
* Filed as Exhibit to Aspen Insurance Holdings Limited’s Quarterly Report on Form 10-Q for the period ended June 30, 2010.
 
** Furnished herewith.


2


Table of Contents

 
SIGNATURES
 
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
ASPEN INSURANCE HOLDINGS LIMITED
(Registrant)
 
Date: August 17, 2010
  By: 
/s/  Christopher O’Kane
Christopher O’Kane
Chief Executive Officer
 
 
Date: August 17, 2010
  By: 
/s/  Richard Houghton
Richard Houghton
Chief Financial Officer


3

EX-101.INS 2 ahl-20100630.xml EX-101 INSTANCE DOCUMENT 0001267395 us-gaap:AdditionalPaidInCapitalMember 2010-01-01 2010-06-30 0001267395 us-gaap:AdditionalPaidInCapitalMember 2009-01-01 2009-06-30 0001267395 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2010-01-01 2010-06-30 0001267395 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2009-01-01 2009-06-30 0001267395 us-gaap:RetainedEarningsMember 2010-06-30 0001267395 us-gaap:CommonStockMember 2010-06-30 0001267395 us-gaap:AdditionalPaidInCapitalMember 2010-06-30 0001267395 us-gaap:AccumulatedTranslationAdjustmentMember 2010-06-30 0001267395 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2010-06-30 0001267395 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2010-06-30 0001267395 us-gaap:RetainedEarningsMember 2009-12-31 0001267395 us-gaap:CommonStockMember 2009-12-31 0001267395 us-gaap:AdditionalPaidInCapitalMember 2009-12-31 0001267395 us-gaap:AccumulatedTranslationAdjustmentMember 2009-12-31 0001267395 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2009-12-31 0001267395 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2009-12-31 0001267395 us-gaap:RetainedEarningsMember 2009-06-30 0001267395 us-gaap:CommonStockMember 2009-06-30 0001267395 us-gaap:AdditionalPaidInCapitalMember 2009-06-30 0001267395 us-gaap:AccumulatedTranslationAdjustmentMember 2009-06-30 0001267395 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2009-06-30 0001267395 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2009-06-30 0001267395 us-gaap:RetainedEarningsMember 2008-12-31 0001267395 us-gaap:CommonStockMember 2008-12-31 0001267395 us-gaap:AdditionalPaidInCapitalMember 2008-12-31 0001267395 us-gaap:AccumulatedTranslationAdjustmentMember 2008-12-31 0001267395 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2008-12-31 0001267395 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2008-12-31 0001267395 us-gaap:SeriesBPreferredStockMember 2010-06-30 0001267395 us-gaap:SeriesAPreferredStockMember 2010-06-30 0001267395 us-gaap:SeriesBPreferredStockMember 2009-12-31 0001267395 us-gaap:SeriesAPreferredStockMember 2009-12-31 0001267395 us-gaap:SeriesBPreferredStockMember 2010-01-01 2010-06-30 0001267395 us-gaap:SeriesAPreferredStockMember 2010-01-01 2010-06-30 0001267395 us-gaap:SeriesBPreferredStockMember 2009-01-01 2009-12-31 0001267395 us-gaap:SeriesAPreferredStockMember 2009-01-01 2009-12-31 0001267395 us-gaap:AccumulatedTranslationAdjustmentMember 2010-01-01 2010-06-30 0001267395 us-gaap:AccumulatedTranslationAdjustmentMember 2009-01-01 2009-06-30 0001267395 us-gaap:RetainedEarningsMember 2010-01-01 2010-06-30 0001267395 us-gaap:RetainedEarningsMember 2009-01-01 2009-06-30 0001267395 2010-04-01 2010-06-30 0001267395 2009-06-30 0001267395 2008-12-31 0001267395 2010-08-05 0001267395 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2009-01-01 2009-06-30 0001267395 2010-06-30 0001267395 2009-12-31 0001267395 2009-01-01 2009-12-31 0001267395 2009-04-01 2009-06-30 0001267395 2009-01-01 2009-06-30 0001267395 2010-01-01 2010-06-30 iso4217:USD xbrli:shares xbrli:shares iso4217:USD <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="3%"> </td> <td width="97%"> </td></tr> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">3.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Acquisitions</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On February&nbsp;4, 2010, we entered into a stock purchase agreement to purchase a U.S.&nbsp;insurance company with licenses to write insurance business on an admitted basis in the U.S.&nbsp;We will pay an amount in cash equal to $10.0&nbsp;million plus the amount of the target company's closing surplus. The company is currently licensed to write business in 50&nbsp;states and the District of Columbia. This transaction remains subject to certain closing conditions. </div></div> </div> 100000 100000 332500000 352200000 8200000 11500000 7400000 -17600000 -20200000 -400000 0 0 0 0 100000 100000 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td width="95%"> </td></tr> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">10.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Reserves for Losses and Adjustment Expenses</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table represents a reconciliation of beginning and ending consolidated loss and loss adjustment expenses ("LAE") reserves: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="71%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="12%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>As at<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>As at<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>December&nbsp;31, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Provision for losses and LAE at start of year </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3,331.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3,070.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Less reinsurance recoverable </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(321.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(283.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net loss and LAE at start of year </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3,009.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,787.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net loss and LAE expenses disposed of </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(42.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(10.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Provision for losses and LAE for claims incurred: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Current year </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">670.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,032.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Prior years </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(15.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(84.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Total incurred </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">655.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">948.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Losses and LAE payments for claims incurred: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Current year </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(24.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(131.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Prior years </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(286.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(677.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Total paid </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(310.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(808.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign exchange (gains) losses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(74.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">93.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net losses and LAE reserves at period end </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3,238.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3,009.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Plus reinsurance recoverable on unpaid losses at period end </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">247.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">321.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Loss and LAE reserves at June&nbsp;30, 2010 and December&nbsp;31, 2009 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3,485.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3,331.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">For the six months ended June&nbsp;30, 2010, there were reserve releases of $15.0&nbsp;million compared to $26.8&nbsp;million for the six months ended June&nbsp;30, 2009 in our estimate of the ultimate claims to be paid in respect of prior accident years. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The $42.4&nbsp;million loss reserve portfolio transfer in the six months ended June&nbsp;30, 2010 relates to the commutation of structured contracts. </div></div> </div> 368200000 301800000 368200000 301800000 3500000 2500000 4238700000 4546900000 -43400000 72600000 false --12-31 Q2 2010 2010-06-30 10-Q 0001267395 76692577 Large Accelerated Filer ASPEN INSURANCE HOLDINGS LTD 463500000 481400000 10300000 3900000 249300000 242300000 257300000 360300000 1763000000 1566200000 8257200000 8581800000 5064300000 5088900000 5249900000 5382200000 809100000 718300000 748400000 726100000 -90800000 -22300000 -103800000 -106200000 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">14.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Commitments and Contingencies</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td width="95%"> </td></tr> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">(a)&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Restricted assets</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">We are obliged by the terms of our contractual obligations to U.S.&nbsp;policyholders and by undertakings to certain regulatory authorities to facilitate the issue of letters of credit or maintain certain balances in trust funds for the benefit of policyholders. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table shows the forms of collateral or other security provided to policyholders as at June&nbsp;30, 2010 and December&nbsp;31, 2009. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="71%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="12%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>As at June&nbsp;30,<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>As at December&nbsp;31,<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions, except percentages)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Assets held in multi-beneficiary trusts </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,630.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,495.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Assets held in single-beneficiary trusts </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">57.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">55.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Secured letters of credit(1) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">507.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">528.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2,195.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2,079.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total as&nbsp;% of cash and invested assets </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">32.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">30.8 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="border-bottom: #000000 1pt solid; width: 13%; margin-left: 0%; font-size: 1pt; align: left;"> </div> <div style="margin-top: 3pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"> </td> <td width="1%"> </td> <td width="97%"> </td></tr> <tr><td valign="top" align="right"><font style="font-size: 10pt;" class="_mt">(1) </font></td> <td> </td> <td valign="bottom"><font style="font-size: 10pt;" class="_mt">As of June&nbsp;30, 2010, the Company had funds on deposit of $695.6&nbsp;million and &#163;19.2&nbsp;million (December&nbsp;31, 2009&nbsp;&#8212; $667.1&nbsp;million and &#163;18.8&nbsp;million) as collateral for the secured letters of credit. </font></td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On October&nbsp;6, 2009, Aspen U.K. and Aspen Bermuda entered into a $200&nbsp;million secured letter of credit facility with Barclays Bank plc. All letters of credit issued under the facility will be used to support reinsurance obligations of the parties to the agreement and their respective subsidiaries. The Company had $46.0&nbsp;million of outstanding collateralized letters of credit under this facility at June&nbsp;30, 2010. </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><br />&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On April&nbsp;29, 2009, Aspen Bermuda replaced its existing letter of credit facility with Citibank Europe dated October&nbsp;29, 2008 in a maximum aggregate amount of up to $450&nbsp;million with a new letter of credit facility in a maximum aggregate amount of up to $550&nbsp;million. The Company had $368.6&nbsp;million of outstanding collateralized letter of credit under this facility at June&nbsp;30, 2010. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Funds at Lloyd's.</i>&nbsp;&nbsp;AUL operates in Lloyd's as the corporate member for Syndicate 4711. Lloyd's determines Syndicate 4711's required regulatory capital principally based on the syndicate's annual business plan. Such capital, called Funds at Lloyd's, comprises: cash, investments and a fully collateralized letter of credit. The amounts of cash, investments and letter of credit at June&nbsp;30, 2010 amount to $220.1&nbsp;million (December&nbsp;31, 2009&nbsp;&#8212; $219.8&nbsp;million). </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td width="95%"> </td></tr> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">(b)&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Operating leases</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Amounts outstanding under operating leases net of subleases as of June&nbsp;30, 2010 were: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="59%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Later<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>2010</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>2011</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>2012</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>2013</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>2014</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Years</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Total</b> </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="27" align="center"><b>($ in millions)</b> </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Operating Lease Obligations </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">18.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">47.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <div style="font-family: Arial, Helvetica; background: #ffffff; color: #000000; margin-left: 2%; font-size: 11pt; margin-right: 0%;" align="left"><b><font style="font-family: 'Times New Roman', Times;" class="_mt">(c)&nbsp;&nbsp;Variable interest entities</font></b> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Cartesian Iris 2009A L.P.</i>&nbsp;&nbsp;As disclosed in Note&nbsp;6, on May&nbsp;19, 2009, Aspen Holdings invested $25.0&nbsp;million in Cartesian Iris 2009A L.P. through our wholly-owned subsidiary, Acorn Limited. Cartesian Iris 2009A L.P. is a Delaware Limited Partnership formed to provide capital to Iris Re, a newly formed Class&nbsp;3 Bermudian reinsurer focusing on insurance-linked securities. In addition to returns on our investment, we provide services on risk selection, pricing and portfolio design in return for a percentage of profits from Iris Re. In the three and six months ended June&nbsp;30, 2010, fees of $Nil and $0.2&nbsp;million, respectively, were payable to us. The Company's investment in Cartesian Iris 2009A L.P. represents 31.25% of the equity invested in the partners hip. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The Company has determined that Cartesian Iris 2009A L.P. has the characteristics of a variable interest entity that are addressed by the guidance in ASC&nbsp;810, <i>Consolidation</i>. Cartesian Iris 2009A L.P. is not consolidated by the Company. The Company has no decision-making power, those powers having been reserved for the general partner. The arrangement with Cartesian Iris 2009A L.P. is simply that of an investee to which the Company provides additional services. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The Company's involvement with Cartesian Iris 2009A L.P. is limited to its investment in the partnership and it is not committed to making further investments in Cartesian Iris 2009A L.P. or provide any other funding or guarantees; accordingly, the carrying value of the investment represents the Company's maximum exposure to a loss as a result of its involvement with the partnership at each balance sheet date. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On June&nbsp;1, 2010, the majority of the investment in Cartesian Iris 2009A L.P. matured and was reinvested in the Cartesian Iris Offshore Fund&nbsp;L.P. The remainder of the investment in Cartesian Iris 2009 A L.P. will mature in August, 2010 and will be reinvested in Cartesian Iris Offshore Fund&nbsp;L.P. The Company's involvement with Cartesian Iris Offshore Fund&nbsp;L.P. is limited to its investment in the fund, and it is not committed to making further investments in Cartesian Iris Offshore Fund&nbsp;L.P.; accordingly, the carrying value of the investment represents the Company's maximum exposure to a loss as a result of its involvement with the partnership at each balance sheet date.</div></div> </div> 0.0015144558 0.0015144558 83327594000000 76700990000000 100000 100000 231400000 154000000 230200000 179900000 83900000 70300000 165500000 201200000 -159400000 -80800000 -162300000 -77800000 4000000 9200000 6700000 4300000 -3900000 -1900000 -4100000 -2100000 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="3%"> </td> <td width="97%"> </td></tr> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">9.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Derivative Contracts</font></b> </td></tr></table> <div style="margin-top: 4pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table summarizes information on the location and amounts of derivative fair values on the consolidated balance sheet as at June&nbsp;30, 2010: </div> <div style="margin-top: 8pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="31%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="26%">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="26%">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Derivatives Not<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Designated as<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="4" align="center"><b>Asset Derivatives</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="4" align="center"><b>Liability Derivatives</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Hedging Instruments<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Notional<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center"><b>Balance Sheet<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center"><b>Balance Sheet<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"> <div style="border-bottom: #000000 1px solid; padding-bottom: 1px; width: 1%;"><b>Under ASC&nbsp;815</b> </div></td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amount</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Location</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Location</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr valign="bottom"><td valign="top" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Credit insurance contract </div></td> <td>&nbsp; </td> <td valign="top" nowrap="nowrap" align="left">$ </td> <td valign="top" nowrap="nowrap" align="right">452.0 </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">Derivatives&nbsp;at&nbsp;fair<br />value </td> <td>&nbsp; </td> <td valign="top" nowrap="nowrap" align="left">$ </td> <td valign="top" nowrap="nowrap" align="right">3.1 </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">Liabilities&nbsp;under<br />derivatives </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="top" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign exchange contract </div></td> <td>&nbsp; </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td> <td valign="top" nowrap="nowrap" align="right">&#8212; </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">Derivatives&nbsp;at&nbsp;fair<br />value </td> <td>&nbsp; </td> <td valign="top" nowrap="nowrap" align="left">$ </td> <td valign="top" nowrap="nowrap" align="right">1.2 </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><b><u><font style="font-size: 8pt;" class="_mt">As at December&nbsp;31, 2009:</font></u></b> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="31%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="26%">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="26%">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Derivatives Not<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Designated as<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="4" align="center"><b>Asset Derivatives</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="4" align="center"><b>Liability Derivatives</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Hedging Instruments<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Notional<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center"><b>Balance Sheet<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center"><b>Balance Sheet<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"> <div style="border-bottom: #000000 1px solid; padding-bottom: 1px; width: 1%;"><b>Under ASC&nbsp;815</b> </div></td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amount</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Location</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Location</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr valign="bottom"><td valign="top" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Credit insurance contract </div></td> <td>&nbsp; </td> <td valign="top" nowrap="nowrap" align="left">$ </td> <td valign="top" nowrap="nowrap" align="right">452.4 </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">Derivatives&nbsp;at&nbsp;fair<br />value </td> <td>&nbsp; </td> <td valign="top" nowrap="nowrap" align="left">$ </td> <td valign="top" nowrap="nowrap" align="right">6.7 </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">Liabilities&nbsp;under<br />derivatives </td> <td>&nbsp; </td> <td valign="top" nowrap="nowrap" align="left">$ </td> <td valign="top" nowrap="nowrap" align="right">9.2 </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table provides the total unrealized and realized gains/(losses) recorded in earnings for the three and six months ended June&nbsp;30, 2010 and 2009: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="34%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="38%">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Amount of Gain/(Loss) Recognized in Income</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Derivatives Not Designated as<br /></b></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Six Months Ended</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"> <div style="border-bottom: #000000 1px solid; padding-bottom: 1px; width: 1%;"><b>Hedging Instruments Under ASC&nbsp;815</b> </div></td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Location of Gain/(Loss) Recognized in Income</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Credit Insurance Contract </div></td> <td>&nbsp; </td> <td valign="bottom" align="left">Change in Fair Value of Derivatives </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(4.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(3.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Exchange Contract </div></td> <td>&nbsp; </td> <td valign="bottom" align="left">Net Foreign Exchange Gains and Losses </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Interest Rate Swap </div></td> <td>&nbsp; </td> <td valign="bottom" align="left">Change in Fair Value of Derivatives </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="34%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="38%">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Amount of Gain/(Loss) Recognized in Income</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Derivatives Not Designated as<br /></b></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Three Months Ended</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"> <div style="border-bottom: #000000 1px solid; padding-bottom: 1px; width: 1%;"><b>Hedging Instruments Under ASC&nbsp;815</b> </div></td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Location of Gain/(Loss) Recognized in Income</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Credit Insurance Contract </div></td> <td>&nbsp; </td> <td valign="bottom" align="left">Change in Fair Value of Derivatives </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(2.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(1.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Exchange Contract </div></td> <td>&nbsp; </td> <td valign="bottom" align="left">Net Foreign Exchange Gains and Losses </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Interest Rate Swap </div></td> <td>&nbsp; </td> <td valign="bottom" align="left">Change in Fair Value of Derivatives </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Credit insurance contract.</i>&nbsp;&nbsp;On November&nbsp;28, 2006, the Company entered into a credit insurance contract which, subject to its terms, insures the Company against losses due to the inability of one or more of our reinsurance counterparties to meet their financial obligations to the Company. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The Company considers the contract to be a derivative instrument because the final settlement is expected to take place two years after expiry of cover and include an amount attributable to outstanding and IBNR claims which may not at that point in time be due and payable to the Company. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">As a result of the application of derivative accounting guidance, the contract is treated as an asset or a liability and measured at the directors' estimate of its fair value. Changes in the estimated fair value from time to time will be included in the consolidated statement of operations. </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><br />&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The contract is for a maximum of five years and provides 90% cover for a named panel of reinsurers up to individual defined <font style="white-space: nowrap;" class="_mt">sub-limits.</font> The contract does allow, subject to certain conditions, for substitution and replacement of panel members if the Company's panel of reinsurers changes. Payments are made on a quarterly basis throughout the period of the contract based on the aggregate limit, which was set initially at $477&nbsp;million but is subject to adjustment. The carrying value of the derivative is the Company's maximum exposure to loss. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Foreign exchange contract.</i>&nbsp;&nbsp;The Company uses forward exchange contracts to manage foreign currency risk. A forward foreign currency exchange contract involves an obligation to purchase or sell a specified currency at a future date at a price set at the time of the contract. Foreign currency exchange contracts will not eliminate fluctuations in the value of our assets and liabilities denominated in foreign currencies but rather allow us to establish a rate of exchange for a future point in time. The foreign currency contracts are recorded as derivatives at fair value with changes recorded as a net foreign exchange gain or loss in the Company's statement of operations. As at June&nbsp;30, 2010, the Company had forward contracts that were due to settle on July&nbsp;7, 2010 and had a net unreal ized foreign exchange gain of $1.2&nbsp;million. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Interest rate swap.</i>&nbsp;&nbsp;The Company selectively hedges its exposure in its investment portfolio to interest rates by entering into interest rate swaps with financial institution counterparties in the ordinary course of its investment activities. As at June&nbsp;30, 2010, the Company held a standard fixed for floating interest rate swap with a notional amount of $5.0&nbsp;million that is due to settle on June&nbsp;4, 2013 and has a charge for the quarter of $0.1&nbsp;million (2009&#8212;$Nil). </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div></div> </div> 9200000 5600000 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">12.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Share Based Payments</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The Company has issued options and other equity incentives under four arrangements: investor options, employee awards, non-employee director awards and the employee share purchase plans. When options are exercised or other equity awards have vested, new shares are issued as the Company does not currently hold treasury shares. The Company applies a fair value based measurement method and an estimate of future forfeitures in the calculation of the compensation costs of stock options and restricted share units. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Investor Options.</i>&nbsp;&nbsp;The investor options were issued on June&nbsp;21, 2002 to Wellington Investment Holdings (Jersey) Limited ("Wellington Investment") and members of Syndicate 2020 who were not corporate members of Syndicate 2020. The options conferred to the members of Syndicate 2020 are held for their benefit by Appleby Services (Bermuda) Ltd. (formerly Appleby Trust (Bermuda) Limited) ("Names' Trustee"). The subscription price payable under the options is initially &#163;10 and increases by 5% per annum, less any dividends paid. Option holders are not entitled to participate in any dividends prior to exercise and would not rank as a creditor in the event of liquidation. If not exercised, the options will expire on June&nbsp;21, 2012. Wellington Investment exercised all of its options on March&nbsp;28, 2007. During the three and six months ended June&nbsp;30, 2010, the Names' Trustee exercised 4,195 and 5,365 options on a cash and cashless basis, respectively (2009&nbsp;&#8212; Nil and 3,842 options). </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Employee and Non-Executive Director Awards.</i>&nbsp;&nbsp;Employee options and other awards are granted under the Aspen 2003&nbsp;Share Incentive Plan and non-executive director awards are granted under the 2006 Stock Option Plan for Non-Employee Directors. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Stock options are granted with an exercise price equivalent to the fair value of the share on the grant date. The weighted average value at grant date is determined using the Black-Scholes option pricing model. Stock options typically vest over a three-year period with a ten-year contract period (except for options granted in 2007 which have a <font style="white-space: nowrap;" class="_mt">7-year</font> exercise period) with vesting dependent on time and performance conditions established at the time of grant. No options were granted in the three and six months ended June&nbsp;30, 2010 (2009&nbsp;&#8212; Nil); 146,850 options were exercised during the three months ended June&nbsp;30, 2010 (2009&nbsp;&#8212; 58,459); and 521,811 options were exercised during the six months ended June&nbsp;30, 201 0 (2009&nbsp;&#8212; 58,459). Compensation costs charged against income in respect of employee options for the three and six months ended June&nbsp;30, 2010 were a credit of $0.8&nbsp;million and a credit of $0.5&nbsp;million, respectively (2009&nbsp;&#8212; $0.5&nbsp;million and $1.1&nbsp;million). </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><br />&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Restricted share units ("RSU's") to employees vest equally over a two or three-year period. Some of the grants vest at year-end, while some other grants vest on the anniversary of the date of grant or when the Compensation Committee of the Board agrees to deliver them. The fair value of the restricted share units is based on the closing price on the date of the grant. The fair value is expensed through the income statement evenly over the vesting period. During the three and six months ended June&nbsp;30, 2010, the Company granted to employees 75,701 and 108,455 restricted share units, respectively (2009&nbsp;&#8212; 2,915 and 42,291). In the case of non-employee directors, one-twelfth of the RSU's vest on each one month anniversary of the date of grant, with 100% of the RSU's becoming vested on the first anniversary of th e date of grant. On February&nbsp;9, 2010 (with a grant date of February&nbsp;11, 2010), the Board of Directors approved a total of 28,640 RSU's for the non-employee directors (April&nbsp;29, 2009&nbsp;&#8212; 25,316) and 17,902 RSU's to the Chairman (April&nbsp;29, 2009 &#8212;&nbsp;8,439). Compensation costs charged against income in respect of restricted share units for the three and six months ended June&nbsp;30, 2010 were $0.8&nbsp;million and $1.6&nbsp;million, respectively (2009&nbsp;&#8212; $0.8&nbsp;million and $1.4&nbsp;million). </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The fair value of performance share awards is based on the value of the average of the high and low of the share price on the date of the grant less a deduction for expected dividends which would not accrue during the vesting period. Performance shares vest over a three or four-year period with shares eligible for vesting dependent on the achievement of performance targets at the end of specified periods as established at the time of grant. Compensation costs charged against income in the three and six months ended June&nbsp;30, 2010 in respect of performance shares were a credit of $0.9&nbsp;million and a charge of $2.3&nbsp;million, respectively (2009&nbsp;&#8212; $3.2&nbsp;million and $6.4&nbsp;million). </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On February&nbsp;8, 2010, the Compensation Committee approved the grant of 720,098 performance shares with a grant date of February&nbsp;11, 2010. The performance shares will be subject to a three-year vesting period with a separate annual Return on Equity ("ROE") test for each year. One-third of the grant will be eligible for vesting each year based on the following formula, and will only be issuable at the end of the three-year period. If the ROE achieved in any given year is less than 7%, then the portion of the performance shares subject to the vesting conditions in such year will be forfeited (i.e. 33.33% of the initial grant). If the ROE achieved in any given year is between 7% and 12%, then the percentage of the performance shares eligible for vesting in such year will be between 10% and 100% on a straight-line basis. I f the ROE achieved in any given year is between 12% and 22%, then the percentage of the performance shares eligible for vesting in such year will be between 100% and 200% on a straight-line basis. Notwithstanding the vesting criteria for each given year, if in any given year, the shares eligible for vesting are greater than 100% for the portion of such year's grant (i.e. the ROE was greater than 12% in such year) and the average ROE over such year and the preceding year is less than 7%, then only 100% (and no more) of the shares that are eligible for vesting in such year shall vest. If the average ROE over the two years is greater than 7%, then there will be no diminution in vesting and the shares eligible for vesting in such year will vest in accordance with the vesting schedule without regard to the average ROE over the two-year period. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Employee Share Purchase Plans.</i>&nbsp;&nbsp;On April&nbsp;30, 2008, the shareholders of the Company approved the Employee Share Purchase Plan (the "ESPP"), the 2008&nbsp;Sharesave Scheme and the International Employee Share Purchase Plan, which are implemented by a series of consecutive offering periods as determined by the Board. In respect of the ESPP, employees can save up to $500 per month over a two-year period, at the end of which they will be eligible to purchase Company shares at a discounted price. In respect of the 2008 Sharesave Scheme, employees can save up to &#163;250 per month over a three-year period, at the end of which they will be eligible to purchase Company shares at a discounted price. The purchase price will be eighty-five percent (85%) of the fair market value of a share on the offering date which may be adjusted upon changes in capitalization of the Company. No shares were issued under the plan during the three and six months ended June&nbsp;30, 2010 (2009&nbsp;&#8212; $Nil). Compensation costs charged against income in the three and six months ended June&nbsp;30, 2010 in respect of the ESPP were $Nil and $0.4&nbsp;million, respectively (2009&nbsp;&#8212; $Nil and $Nil).</div></div> </div> -37300000 -37300000 -34900000 -34900000 2.68 1.26 1.5 1.34 2.61 1.22 1.43 1.28 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">4.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Earnings Per Ordinary Share</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Basic earnings per ordinary share are calculated by dividing net income available to holders of Aspen's ordinary shares by the weighted average number of ordinary shares outstanding. Diluted earnings per ordinary share are based on the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding during the period of calculation using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June&nbsp;30, 2010 and 2009, respectively: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="44%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="10%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="10%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="10%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="10%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Three Months Ended June&nbsp;30,</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Six Months Ended June&nbsp;30,</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>2009</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="14" align="center"><b>($ in millions, except share and per share amounts)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Earnings</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Basic </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net income as reported </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">108.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">110.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">127.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">201.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Preference dividends </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(5.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(5.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(11.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(12.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Preference stock repurchase gain </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">31.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net income available to ordinary shareholders </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">103.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">104.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">115.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">220.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Diluted </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net income available to ordinary shareholders </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">103.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">104.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">115.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">220.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Ordinary shares </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Basic </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Weighted average ordinary shares </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77,289,082 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">82,940,270 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77,341,732 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">82,241,370 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Diluted </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Weighted average ordinary shares </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77,289,082 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">82,940,270 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77,341,732 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">82,241,370 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Weighted average effect of dilutive securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3,438,173 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,705,862 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3,364,544 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,371,400 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">80,727,255 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">85,646,132 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">80,706,276 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">84,612,770 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Earnings per ordinary share </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Basic </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.34 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.26 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.50 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2.68 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Diluted </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.28 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.22 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.43 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2.61 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Ordinary Share Repurchases.</i>&nbsp;&nbsp;On January&nbsp;5, 2010, we entered into an accelerated share repurchase program with Goldman Sachs&nbsp;&amp; Co. ("Goldman Sachs") to repurchase $200&nbsp;million of our ordinary shares. The transaction was completed on May&nbsp;21, 2010, when a total of 7,226,084&nbsp;ordinary shares were received and cancelled during the first six months of 2010. The repurchase completes the share repurchase program authorized by the Board of Directors and announced on February&nbsp;6, 2008. The purchase was funded with cash available and the sale of investment assets. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On February&nbsp;9, 2010, our Board of Directors authorized a new repurchase program for up to $400&nbsp;million of ordinary shares. This share repurchase program was in addition to the completed accelerated share repurchase program entered into on January&nbsp;5, 2010. The authorization covers the period to March&nbsp;1, 2012. </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><br />&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Purchase of preference shares.</i>&nbsp;&nbsp;On March&nbsp;31, 2009, we purchased 2,672,500 of our 7.401% $25 liquidation price preference shares (NYSE: AHL-PA) at a price of $12.50 per share. The purchase resulted in a first quarter gain of approximately $31.5&nbsp;million, net of a non-cash charge of $1.2&nbsp;million reflecting the write off of the pro rata portion of the original issuance costs of the 7.401% preference shares. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Dividends.</i>&nbsp;&nbsp;On July&nbsp;28, 2010, the Company's Board of Directors declared the following quarterly dividends: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="45%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="17%">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="20%">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Dividend</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Payable on:</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Record Date:</b> </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Ordinary shares </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">0.15 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" align="center">August 27, 2010 </td> <td>&nbsp; </td> <td valign="bottom" align="center">August 12, 2010 </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">5.625% preference shares </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">0.703125 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" align="center">October 1, 2010 </td> <td>&nbsp; </td> <td valign="bottom" align="center">September 15, 2010 </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">7.401% preference shares </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">0.462563 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" align="center">October 1, 2010 </td> <td>&nbsp; </td> <td valign="bottom" align="center">September 15, 2010 </td></tr></table></div> </div> 12900000 -76000000 27300000 27800000 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">7.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Fair Value Measurements</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Fair Value Methodology.</i>&nbsp;&nbsp;Our estimates of fair value for financial assets and liabilities are based on the framework established in the fair value accounting guidance. The framework prioritizes the inputs, which refer broadly to assumptions market participants would use in pricing an asset or liability, into three levels, which are described in more detail below. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">We consider prices for actively traded Treasury (U.S.&nbsp;Government and Foreign Government) securities to be derived based on quoted prices in active markets for identical assets, which are Level&nbsp;1 inputs in the fair value hierarchy. We consider prices for other securities priced via vendors, indices, or broker-dealers to be derived based on inputs that are observable for the asset, either directly or indirectly, which are Level&nbsp;2 inputs in the fair value hierarchy. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">We consider securities, other financial instruments and derivative insurance contracts subject to fair value measurement whose valuation is derived by internal valuation models to be based largely on unobservable inputs, which are Level&nbsp;3 inputs in the fair value hierarchy. There have been no changes in our use of valuation techniques during the year. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Our fixed income securities are traded on the <font style="white-space: nowrap;" class="_mt">over-the-counter</font> market, based on prices provided by one or more market makers in each security. Securities such as U.S.&nbsp;Government, U.S.&nbsp;Agency, Foreign Government and investment grade corporate bonds have multiple market makers in addition to readily observable market value indicators such as expected credit spread, except for Treasury securities, over the yield curve. We use a variety of pricing sources to value our fixed income securities including those securities that have pay down/prepay features such as mortgage-backed securities and asset-backed securities in order to ensure fair and accurate pricing. The fair value estimates of the investment grade securities in our portfolio do not use significan t unobservable inputs or modeling techniques. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table presents our investments within the fair value hierarchy at which the Company's financial assets are measured on a recurring basis at June&nbsp;30, 2010. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="73%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 1</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 2</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 3</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Fixed income maturities <font style="white-space: nowrap;" class="_mt">available-for-sale,</font> at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,149.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">4,218.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">14.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Short-term investments <font style="white-space: nowrap;" class="_mt">available-for-sale,</font> at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">231.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">70.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Fixed income maturities, trading at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">30.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">341.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Short-term investments, trading at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Derivatives at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,411.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">4,632.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">17.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">In the current quarter, we have transferred $109.6 million of foreign government agency securities from Level 1 to Level 2 to bring our classification in line with the presentation for other government agency securities. </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="73%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>December&nbsp;31, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 1</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 2</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 3</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Fixed income maturities <font style="white-space: nowrap;" class="_mt">available-for-sale,</font> at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,029.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">4,205.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">14.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Short-term investments <font style="white-space: nowrap;" class="_mt">available-for-sale,</font> at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">293.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">75.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Fixed income maturities, trading at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">11.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">336.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Short-term investments, trading at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Derivatives at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,334.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">4,620.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">21.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Fixed income maturities classified as Level&nbsp;3 include holdings where there are significant unobservable inputs in determining the assets' fair value and also securities of Lehman Brothers Holdings, Inc. ("Lehman Brothers"). Although the market value of Lehman Brothers bonds was based on broker dealer quoted prices, management believes that the valuation is based, in part, on market expectations of future recoveries out of bankruptcy proceedings, which involve significant unobservable inputs to the valuation. Derivatives at fair value consist of the credit insurance contract and foreign exchange contracts as described in Note&nbsp;9. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table presents a reconciliation of the beginning and ending balances for all assets measured at fair value on a recurring basis using Level&nbsp;3 inputs for the three and six months ended June&nbsp;30, 2010. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="67%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="9%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="2%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Three Months Ended June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fixed Maturity<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Derivatives at<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Investments</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of April&nbsp;1, 2010 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">16.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">4.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">21.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total unrealized gains or (losses): </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Included in comprehensive income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Included in earnings </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of June&nbsp;30, 2010 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">14.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">17.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="66%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="9%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Six Months Ended June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fixed Maturity<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Derivatives at<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Investments</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of January&nbsp;1, 2010 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">14.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">21.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total unrealized gains or (losses): </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Included in comprehensive income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Included in earnings </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of June&nbsp;30, 2010 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">14.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">17.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table presents a reconciliation of the beginning and ending balances for all assets measured at fair value on a recurring basis using Level&nbsp;3 inputs for the three and six months ended June&nbsp;30, 2009. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="66%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="9%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Three Months Ended June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fixed Maturity<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Derivatives at<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Investments</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of April&nbsp;1, 2009 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">10.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">7.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">17.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Securities transferred in/(out) of Level&nbsp;3 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total unrealized gains or (losses): </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Included in earnings </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Included in comprehensive income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of June&nbsp;30, 2009 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">18.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">23.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="66%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="9%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Six Months Ended June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fixed Maturity<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Derivatives at<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Investments</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of January&nbsp;1, 2009 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">11.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">14.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Securities transferred in/(out) of Level&nbsp;3 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">14.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">14.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total unrealized gains or (losses): </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Included in earnings </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Included in comprehensive income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Settlements </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(2.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(2.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of June&nbsp;30, 2009 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">18.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">23.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table presents our liabilities within the fair value hierarchy at which the Company's financial liabilities are measured on a recurring basis at June&nbsp;30, 2010 and December&nbsp;31, 2009. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="77%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 1</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 2</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 3</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Liabilities under derivative contracts: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Credit insurance contract </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="77%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>December&nbsp;31, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 1</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 2</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 3</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Liabilities under derivative contracts: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Credit insurance contract </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">9.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table presents a reconciliation of the beginning and ending balances for the liabilities under derivative contracts measured at fair value on a recurring basis using Level&nbsp;3 inputs during the three and six months ended June&nbsp;30, 2010. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="65%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="14%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="12%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Three Months Ended<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Six Months Ended<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Beginning Balance </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">7.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">9.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Settlements </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Ending Balance </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table presents a reconciliation of the beginning and ending balances for the liabilities under derivative contracts measured at fair value on a recurring basis using Level&nbsp;3 inputs during the three and six months ended June&nbsp;30, 2009. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="65%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="14%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="12%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Three Months Ended<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Six Months Ended<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Beginning Balance </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">9.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">11.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Settlements </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Ending Balance </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">7.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">7.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div></div> </div> 800000 3100000 -1100000 -2600000 85100000 83500000 -7400000 4800000 18000000 5700000 100000 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">6.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Investments</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Fixed Maturities&nbsp;&#8212; <font style="white-space: nowrap;" class="_mt">Available-For-Sale.</font></i>&nbsp;&nbsp;The following presents the cost, gross unrealized gains and losses, and estimated fair value of available for sale investments in fixed maturities: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="55%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="9%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="14" align="center"><b>As at June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Estimated<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost or<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amortized Cost</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gains</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Losses</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="14" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">676.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">37.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">714.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Agency Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">318.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">27.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">346.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Municipal Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">32.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">32.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,195.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">129.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,321.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">520.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">21.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">542.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Asset-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">72.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Residential Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">31.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">9.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">40.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Commercial Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">150.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">7.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">157.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Agency Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,091.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">57.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,149.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total fixed income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5,088.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">297.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(4.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5,382.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Short term Investments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">301.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">301.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5,390.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">297.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(4.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5,684.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="55%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="9%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="14" align="center"><b>As at December&nbsp;31, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Estimated<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost or<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amortized Cost</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gains</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Losses</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="14" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">492.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">17.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(2.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">507.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Agency Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">368.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">20.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">389.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Municipal Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">20.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">19.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,178.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">90.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,264.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">509.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">13.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">522.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Asset-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">110.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">115.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Residential Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">34.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">42.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Commercial Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">178.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">180.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Agency Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,172.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">40.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,209.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total fixed income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5,064.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">198.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(13.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5,249.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Short term Investments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">368.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">368.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5,432.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">198.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(13.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5,618.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table provides the contractual maturity distribution of our available for sale fixed income investments as of June&nbsp;30, 2010. Actual maturities may differ from contractual maturities because issuers of securities may have the right to call or prepay obligations with or without call or prepayment penalties. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="81%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>As at June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost or<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amortized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Due one year or less </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">328.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">334.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Due after one year through five years </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,149.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,253.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Due after five years through ten years </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,175.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,270.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Due after ten years </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">89.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">98.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Subtotal </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3,743.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3,957.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Residential Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">31.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">40.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Commercial Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">150.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">157.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Agency Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,091.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,149.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Other asset-backed securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">72.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5,088.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5,382.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Fixed Maturities&nbsp;&#8212; Trading.</i>&nbsp;&nbsp;The following tables presents the cost, gross unrealized gains and losses, and estimated fair value of trading investments in fixed maturities: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="59%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="14" align="center"><b>As at June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost or<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Estimated<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amortized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gains</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Losses</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="14" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">24.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">25.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Agency Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Municipal Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">312.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">19.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">330.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Asset Backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total fixed income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">352.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">20.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(1.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">371.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="59%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="14" align="center"><b>As at December&nbsp;31, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost or<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Estimated<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amortized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gains</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Losses</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">7.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(0.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Agency Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Municipal Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">313.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">329.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Asset Backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total fixed income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">332.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">16.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(1.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">348.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The Company classifies these financial instruments as held for trading as this most closely reflects the facts and circumstances of the investments held. The trading portfolio was established in 2009. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Gross unrealized loss.</i>&nbsp;&nbsp;The following tables summarize as at June&nbsp;30, 2010 and December&nbsp;31, 2009, by type of security, the aggregate fair value and gross unrealized loss by length of time the security has been in an unrealized loss position for our available for sale portfolio. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="42%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="22" align="center"><b>As at June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>0-12&nbsp;months</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Over 12&nbsp;months</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Loss</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Loss</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Loss</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="22" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">15.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">15.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Agency Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">25.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">25.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Municipal Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">10.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">10.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">100.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">106.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Asset-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Residential Mortgage- backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Commercial Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">11.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Agency Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">15.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">181.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(3.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">10.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">191.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(4.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="42%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="22" align="center"><b>As at December&nbsp;31, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>0-12&nbsp;months</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Over 12&nbsp;months</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Loss</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Loss</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Loss</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">121.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(2.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">121.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(2.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Agency Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">9.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">9.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Municipal Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">15.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">15.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">113.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">113.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">319.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">20.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">339.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Asset-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Agency Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">307.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">308.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Residential Mortgage- backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Commercial Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">14.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">43.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">58.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">901.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(11.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">71.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(1.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">973.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(13.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">As at June&nbsp;30, 2010, the Company held 100 fixed maturities (December&nbsp;31, 2009&nbsp;&#8212; 277 fixed maturities) in an unrealized loss position with a fair value of $191.5&nbsp;million (December&nbsp;31, 2009&nbsp;&#8212;&nbsp;$973.0&nbsp;million) and gross unrealized losses of $4.1&nbsp;million (December&nbsp;31, 2009&nbsp;&#8212; $13.1&nbsp;million). The Company believes that the gross unrealized losses are attributable to a combination of widening credit spreads and interest rate movements and has concluded that the period during which those investments will remain in an unrealized loss position is temporary. </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i><font style="white-space: nowrap;" class="_mt">Other-than-temporary</font> impairments.</i>&nbsp;&nbsp;The Company recorded <font style="white-space: nowrap;" class="_mt">other-than-temporary</font> impairments for the three and six months ended June&nbsp;30, 2010 of $Nil (2009&nbsp;&#8212; $2.9&nbsp;million) and $0.3&nbsp;million (2009&nbsp;&#8212; $18.1&nbsp;million), respectively. We review all of our investments in fixed maturities designated available for sale for potential impairment each quarter based on criteria including issuer-specific circumstances, credit ratings actions and general macro-economic conditions. The process of determining whether a decline in value is <font style="white-space: nowrap;" class="_mt">"other-than-temporary"</f ont> requires considerable judgment. As part of the assessment process we evaluate whether it is more likely than not that we will sell any fixed maturity security in an unrealized loss position before its market value recovers to amortized cost. Once a security has been identified as <font style="white-space: nowrap;" class="_mt">other-than-temporarily</font> impaired, the amount of any impairment included in net income is determined by reference to that portion of the unrealized loss that is considered to be credit related. Non-credit related unrealized losses are included in other comprehensive income. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>U.S.&nbsp;Government and Agency Securities.</i>&nbsp;&nbsp;U.S.&nbsp;government and agency securities are composed of bonds issued by the U.S.&nbsp;Treasury, Government National Mortgage Association ("GNMA") and government-sponsored enterprises such as Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Bank and Federal Farm Credit Bank. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Corporate Securities.</i>&nbsp;&nbsp;Corporate securities are composed of short-term, medium-term and long-term debt issued by corporations. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Foreign Government.</i>&nbsp;&nbsp;Foreign government securities are composed of bonds issued and guaranteed by foreign governments such as the U.K., Canada, and France. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Municipals.</i>&nbsp;&nbsp;Municipal securities are composed of bonds issued by U.S.&nbsp;municipalities. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Asset-Backed Securities.</i>&nbsp;&nbsp;Asset-backed securities are securities backed by notes or receivables against assets other than real estate. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Mortgage-Backed Securities.</i>&nbsp;&nbsp;Mortgage-backed securities are securities that represent ownership in a pool of mortgages. Both principal and income are backed by the group of mortgages in the pool. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Short-Term Investments.</i>&nbsp;&nbsp;Short-term investments are both money market funds and investments in Treasury bills, discount notes and short coupon paper with a maturity of less than 90&nbsp;days. The money market funds are rated "AAA" by Standard&nbsp;&amp; Poor's ("S&amp;P") <font style="white-space: nowrap;" class="_mt">and/or</font> Moody's Investor Service ("Moody's") and invest in a variety of short-term instruments such as commercial paper, certificates of deposit, floating rate notes and medium-term notes. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Other Investments.</i>&nbsp;&nbsp;On May&nbsp;19, 2009, Aspen Holdings invested $25&nbsp;million in Cartesian Iris 2009A L.P. through our wholly-owned subsidiary, Acorn Limited. Cartesian Iris 2009A L.P. is a Delaware Limited Partnership formed to provide capital to Iris Re, a newly formed Class&nbsp;3 Bermudian reinsurer focusing on insurance-linked securities. In addition to returns on our investment, we provide services on risk selection, pricing and portfolio design in return for a percentage of profits from Iris Re. In the three and six months ended June&nbsp;30, 2010, fees of $Nil (2009&nbsp;&#8212; $Nil) and $0.2&nbsp;million (2009&nbsp;&#8212; $Nil), respectively, were payable to us. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The Company accounts for its investment in accordance with the equity method of accounting. Adjustments to the carrying value of this investment are made based on our share of capital including our share of income and expenses, which is provided in the quarterly management accounts of the partnership. The adjusted carrying value approximates fair value. In the three and six months ended June&nbsp;30, 2010, our share of gains and losses increased the value of our investment by $0.3&nbsp;million (2009&nbsp;&#8212; reduction of $0.3&nbsp;million) and $0.5&nbsp;million (2009&nbsp;&#8212; reduction of $0.3&nbsp;million), respectively. The increase in value has been recognized in realized and unrealized gains and losses in the condensed consolidated statement of operations. For more information see Note&a mp;nbsp;14(c). </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><br />&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The Company's involvement with Cartesian Iris 2009A L.P. is limited to its investment in the partnership and it is not committed to making further investments in Cartesian Iris 2009A L.P.; accordingly, the carrying value of the investment represents the Company's maximum exposure to a loss as a result of its involvement with the partnership at each balance sheet date. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On June&nbsp;1, 2010, the majority of the investment in Cartesian Iris 2009A L.P. matured and was reinvested in the Cartesian Iris Offshore Fund&nbsp;L.P. The remainder of the investment in Cartesian Iris 2009 A L.P. will mature in August, 2010 and will be reinvested in Cartesian Iris Offshore Fund&nbsp;L.P. The Company's involvement with Cartesian Iris Offshore Fund&nbsp;L.P. is limited to its investment in the fund, and it is not committed to making further investments in Cartesian Iris Offshore Fund&nbsp;L.P.; accordingly, the carrying value of the investment represents the Company's maximum exposure to a loss as a result of its involvement with the partnership at each balance sheet date. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Investment Purchases and Sales.</i>&nbsp;&nbsp;The following table sets out an analysis of investment purchases/(sales) and maturities: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="49%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>For the Three Months Ended</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>For the Six Months Ended</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Purchase of fixed maturity investments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">181.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">722.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">785.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,373.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">(Proceeds) from sales and maturities of fixed maturity investments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(288.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(482.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(832.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(972.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net purchases/(proceeds) from other investments sold </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">37.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(135.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net (sales)/purchases of short-term investments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">133.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">27.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">91.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net (sales)/purchases </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">25.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">304.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(43.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">357.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Investment Income.</i>&nbsp;&nbsp;The following is a summary of investment income: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="49%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>For the Three Months Ended</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>For the Six Months Ended</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Fixed maturity investments&nbsp;&#8212; <font style="white-space: nowrap;" class="_mt">Available-for-sale</font> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">53.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">49.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">109.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">102.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Fixed maturity investments&nbsp;&#8212; Trading portfolio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Short-term investments&nbsp;&#8212; <font style="white-space: nowrap;" class="_mt">Available-for-sale</font> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Fixed term deposits (included in cash and cash equivalents) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Other investments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">20.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">59.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">73.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">120.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">134.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Investments expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net investment income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">57.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">72.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">116.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">131.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table summarizes the pre-tax realized investment gains and losses, and the change in unrealized gains and losses on investments recorded in shareholders' equity and in comprehensive income. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="49%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>For the Three Months Ended</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>For the Six Months Ended</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Pre-tax realized and unrealized investment gains and losses included in income statement: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><font style="white-space: nowrap;" class="_mt">Available-for-sale</font> short-term investments and fixed maturities: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Gross realized gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">11.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">12.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">16.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Gross realized (losses) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(7.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(10.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Trading portfolio short-term investments&nbsp;and fixed maturities: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Gross realized gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Gross realized (losses) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Net change in gross unrealized gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Impairments: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Total <font style="white-space: nowrap;" class="_mt">other-than-temporary</font> impairments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(2.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(18.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Equity accounted investments: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 30pt;">Gross realized gains in Cartesian Iris </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total pre-tax realized and unrealized investment gains and losses included in income statement: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">4.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">18.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(7.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Change in <font style="white-space: nowrap;" class="_mt">available-for-sale</font> unrealized gains/losses: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 30pt;">Fixed maturities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">82.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">41.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">107.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">45.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 30pt;">Short-term investments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total change in pre-tax <font style="white-space: nowrap;" class="_mt">available-for-sale</font> unrealized gains/(losses) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">82.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">48.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">107.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">51.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Change in taxes </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(4.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(11.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(7.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(13.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total change in unrealized gains/(losses), net of taxes </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">77.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">37.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">99.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">38.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br /></p></div> </div> 237500000 130000000 141300000 121000000 12800000 45900000 35700000 19600000 14100000 12100000 -15000000 8900000 -4600000 -9300000 -27200000 19600000 10800000 -8000000 -36300000 -37600000 -2500000 1600000 118300000 222900000 100000 -9600000 -190900000 -284400000 -89400000 -6300000 64700000 45200000 -228900000 -168900000 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">13.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Intangible Assets</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="45%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="11" align="center"><b>Three Months to June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="11" align="center"><b>Three Months to June&nbsp;30, 2009</b> </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Insurance<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Insurance<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Trade Mark</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Licenses</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Other</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Trade Mark</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Licenses</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Other</b> </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Intangible Assets </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Beginning of the period </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Amortization </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">End of the period </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="45%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="11" align="center"><b>Six Months to June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="11" align="center"><b>Six Months to June&nbsp;30, 2009</b> </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Insurance<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Insurance<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Trade Mark</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Licenses</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Other</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Trade Mark</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Licenses</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Other</b> </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Intangible Assets </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Beginning of the period </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Amortization </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">End of the period </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On January&nbsp;22, 2010, we entered into a sale and purchase agreement to purchase APJ Continuation Limited and its subsidiaries ("APJ") for an aggregate consideration of $4.8&nbsp;million. The business writes a specialist account of K&amp;R insurance which will complement our existing political and financial risk line of business. The directors of Aspen Holdings have assessed the fair value of the net tangible and financial assets acquired at $1.2&nbsp;million. The $3.6&nbsp;million intangible asset represents our assessment of the value of renewal rights, distribution channels and employees associated with the business.</div></div> </div> 7900000 4000000 7800000 4000000 7500000 7500000 5997000000 6085700000 4951800000 5277900000 8257200000 8581800000 3331100000 3485700000 249600000 249600000 -46300000 -234900000 -359700000 40700000 302300000 247900000 201800000 201800000 110400000 127200000 127200000 108900000 131400000 72200000 116900000 57500000 11900000 16900000 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">1.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">History and Organization</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Aspen Insurance Holdings Limited ("Aspen Holdings") was incorporated on May&nbsp;23, 2002 and holds subsidiaries that provide insurance and reinsurance on a worldwide basis. Its principal operating subsidiaries are Aspen Insurance UK Limited ("Aspen U.K."), Aspen Insurance Limited ("Aspen Bermuda"), Aspen Specialty Insurance Company ("Aspen Specialty") and Aspen Underwriting Limited (corporate member of Lloyd's Syndicate 4711, "AUL"), (collectively, the "Insurance Subsidiaries").</div></div> </div> 9200000 16000000 -9100000 -9100000 6100000 3100000 3100000 -6900000 29600000 43600000 103000000 71000000 -10400000 -6300000 8400000 -200000 -28200000 -31100000 -108300000 -77700000 1900000 2600000 4800000 3700000 -758500000 -373700000 -937000000 -420000000 64100000 73400000 -3000000 1200000 91900000 4000000 200000000 34100000 12700000 11400000 24600000 23500000 1373100000 785900000 3400000 2500000 6500000 485500000 234700000 655500000 276700000 5.625 7.401 5.625 7.401 0.0015144558 0.0015144558 0.0015144558 0.0015144558 4600000000000 5327500000000 4600000000000 5327500000000 875900000 428600000 947500000 479900000 708300000 981000000 25100000 7600000 135000000 972800000 832900000 27500000 28400000 110800000 159300000 321500000 247600000 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="3%"> </td> <td width="97%"> </td></tr> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">8.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Reinsurance</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">We purchase retrocession and reinsurance to limit and diversify our own risk exposure and to increase our own insurance underwriting capacity. These agreements provide for recovery of a portion of losses and loss expenses from reinsurers. As is the case with most reinsurance treaties, we remain liable to the extent that reinsurers do not meet their obligations under these agreements, and therefore, in line with our risk management objectives, we evaluate the financial condition of our reinsurers and monitor concentrations of credit risk. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Balances pertaining to reinsurance transactions are reported "gross" on the consolidated balance sheet, meaning that reinsurance recoverable on unpaid losses and ceded unearned premiums are not deducted from insurance reserves but are recorded as assets. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The largest concentrations of reinsurance recoverables as at June&nbsp;30, 2010, were with Lloyd's on Lloyd's syndicates which are all rated A (Excellent) by A.M.&nbsp;Best and A+ (Strong) by S&amp;P and with Munich Re which is rated A+ (Superior) by A.M.&nbsp;Best and AA- (Very Strong) by S&amp;P, for their financial strength. Balances with Lloyd's and Munich Re represented 29.0% and 10.9%, respectively, of reinsurance recoverables.</div></div> </div> 1285000000 1377300000 996000000 503700000 1078300000 541000000 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">11.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Capital Structure</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table provides a summary of the Company's authorized and issued share capital at June&nbsp;30, 2010 and December&nbsp;31, 2009. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="53%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>As at June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>As at December&nbsp;31, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>$ in<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>$ in<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Number</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Thousands</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Number</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Thousands</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Authorized Share Capital </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Ordinary shares 0.15144558&#162; per share </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">969,629,030 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,469 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">969,629,030 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,469 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Non-Voting shares 0.15144558&#162; per share </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6,787,880 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">10 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6,787,880 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">10 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Preference shares 0.15144558&#162; per share </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">100,000,000 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">152 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">100,000,000 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">152 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="55%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="7%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="7%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>$ in<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>$ in<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Number</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Thousands</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Number</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Thousands</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Issued Share Capital </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Issued ordinary shares of 0.15144558&#162; per share </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">76,700,990 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">116 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">83,327,594 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">126 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Issued preference shares of 0.15144558&#162; each with a liquidation preference of $50 per share </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4,600,000 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4,600,000 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Issued preference shares of 0.15144558&#162; each with a liquidation preference of $25 per share </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5,327,500 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5,327,500 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total issued share capital </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">131 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">141 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="55%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>$ in<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>$ in<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Millions</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Millions</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Additional paid-in capital </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,566.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,763.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Ordinary Shares.</i>&nbsp;&nbsp;The following table summarizes transactions in our ordinary shares during the six month period ended June&nbsp;30, 2010. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="89%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="7%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Number of <br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Shares</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Shares in issue at December&nbsp;31, 2009</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">83,327,594 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;"><i>Share transactions in the six months ended June 30, 2010:</i> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Shares issued to the Names' trust upon exercise of investor options (refer to Note&nbsp;12) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5,365 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Shares issued to employees under the share incentive plan </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">594,115 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Repurchase of shares from shareholders(1) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(7,226,084 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Shares in issue at June&nbsp;30, 2010</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">76,700,990 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="border-bottom: #000000 1pt solid; width: 13%; margin-left: 0%; font-size: 1pt; align: left;"> </div> <div style="margin-top: 3pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"> </td> <td width="1%"> </td> <td width="97%"> </td></tr> <tr><td valign="top" align="right"><font style="font-size: 10pt;" class="_mt">(1) </font></td> <td> </td> <td valign="bottom"><font style="font-size: 10pt;" class="_mt">During 2010, 7,226,084 ordinary shares were acquired and cancelled. Further information related to the accelerated share repurchase program is described below. </font></td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Ordinary Share Repurchases.</i>&nbsp;&nbsp;On January&nbsp;5, 2010, we entered into an accelerated share repurchase program with Goldman Sachs to repurchase $200&nbsp;million of our ordinary shares. The transaction was completed on May&nbsp;21, 2010, when a total of 7,226,084 ordinary shares were received and cancelled during the first six months of 2010. The repurchase completes the share repurchase program authorized by the Board of Directors and announced on February&nbsp;6, 2008. The purchase was funded with cash available and the sale of investment assets. </div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On February&nbsp;9, 2010, our Board of Directors authorized a new repurchase program for up to $400&nbsp;million of ordinary shares. This share repurchase program was in addition to the completed accelerated share repurchase program entered into on January&nbsp;5, 2010. The authorization covers the period to March&nbsp;1, 2012. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On June&nbsp;23, 2010, an agreement was signed to repurchase 10,835&nbsp;shares from the Names' Trustee. The shares were repurchased on July&nbsp;7, 2010 and subsequently cancelled.</div></div> </div> <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">2.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Basis of Preparation</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The accompanying unaudited condensed consolidated financial statements have been prepared on the basis of generally accepted accounting principles in the United States ("GAAP") for interim financial information and in accordance with the instructions to <font style="white-space: nowrap;" class="_mt">Form&nbsp;10-Q</font> and Article&nbsp;10 of <font style="white-space: nowrap;" class="_mt">Regulation&nbsp;S-X.</font> Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Results for the three and six months ended June&nbsp;30, 2010 are not necessarily indicative of the results th at may be expected for the year ended December&nbsp;31, 2010. The unaudited condensed consolidated financial statements include the accounts of Aspen Holdings and its wholly-owned subsidiaries, which are collectively referred to herein as the "Company." All intercompany transactions and balances have been eliminated on consolidation. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The balance sheet at December&nbsp;31, 2009 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December&nbsp;31, 2009 contained in Aspen's Annual Report on <font style="white-space: nowrap;" class="_mt">Form&nbsp;10-K</font> filed with the United States Securities and Exchange Commission (File <font style="white-space: nowrap;" class="_mt">No.&nbsp;001-31909).</font> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Assumptions and estimates made by management have a significant effect on the amounts reported within the consolidated financial statements. The most significant of these relate to losses and loss adjustment expenses, the value of investments, reinsurance recoverables and the fair value of derivatives. All material assumptions and estimates are regularly reviewed and adjustments made as necessary, but actual results could be significantly different from those expected when the assumptions or estimates were made. </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <div style="font-family: Arial, Helvetica; background: #ffffff; color: #000000; margin-left: 2%; font-size: 11pt; margin-right: 0%;" align="left"><b><font style="font-family: 'Times New Roman', Times;" class="_mt">New Accounting Pronouncements Adopted in 2010</font></b> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">In June 2009, the Financial Accounting Standards Board ("FASB") issued revised guidance on the accounting for variable interest entities. The revised guidance which was issued as Statement No.&nbsp;167, <i>"Amendments to FASB Interpretation No.&nbsp;46R</i>" and subsequently codified as ASC&nbsp;810 <i>Consolidation, </i>replaces the quantitative approach previously required for determining the primary beneficiary of a variable interest entity with an approach focused on the power to direct activities that significantly impact an entity's economic performance and the obligation to absorb losses of the entity or the right to receive benefits from the entity. It also requires ongoing assessment of whether an enterprise is a variable interest entity ("VIE"). The statement is effective for each annual r eporting period that begins after November&nbsp;15, 2009. In December 2009, the FASB issued Accounting Standards Update ASU <font style="white-space: nowrap;" class="_mt">2009-17,</font> which codifies SFAS&nbsp;No.&nbsp;167. The new guidance did not have a material impact on our consolidated financial statements. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">In December 2009, the FASB issued new guidance on the accounting for the transfer of financial assets. The new guidance, which is now part of ASC&nbsp;860 <i>Transfers and Servicing</i>, eliminates the concept of a qualifying special purpose entity and therefore any qualifying special purpose entities in existence before the effective date will need to be evaluated for consolidation. The criteria for reporting a transfer of financial assets has also changed. The guidance is effective on a prospective basis on January&nbsp;1, 2010 and interim and annual periods thereafter. The new guidance did not have a material impact on our unaudited consolidated financial statements. </div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">In January 2010, the FASB issued ASU <font style="white-space: nowrap;" class="_mt">2010-6,</font> <i>Improving Disclosures About Fair Value Measurements</i>, which requires reporting entities to make new disclosures about recurring or nonrecurring fair value measurements including significant transfers into and out of Level&nbsp;1 and Level&nbsp;2 fair value measurements and information on purchases, sales, issuances and settlements on a gross basis in the reconciliation of Level&nbsp;3 fair value measurements. ASU <font style="white-space: nowrap;" class="_mt">2010-6</font> is effective for annual reporting periods beginning after December&nbsp;15, 2009, except for Level&nbsp;3 reconciliation disclosures which are effective for annual periods beginning after December&nbsp;1 5, 2010. The new guidance did not have a material impact on our unaudited consolidated financial statements.</div></div> </div> <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">5.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Segment Reporting</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On January&nbsp;14, 2010, we announced a new organizational structure in accordance with the way in which we manage our insurance and reinsurance businesses as two underwriting segments, Aspen Insurance and Aspen Reinsurance, to enhance and better serve our global customer base. In arriving at these reporting segments, we considered similarities in economic characteristics, products, customers, distribution, and the regulatory environment. As discussed above, as a result of our organizational changes, in 2010 we now manage our underwriting business in two operating segments: Insurance and Reinsurance. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Under the new organizational structure, our insurance segment is comprised primarily of the existing international insurance and U.S.&nbsp;insurance segments, with Rupert Villers acting as CEO of Aspen Insurance. William Murray continues to lead our U.S.&nbsp;Insurance business forming part of our newly established insurance segment. Our reinsurance segment is comprised of property reinsurance (catastrophe and other), casualty reinsurance and specialty reinsurance (a portion of the latter previously included in international insurance). The reinsurance segment is led by Brian Boornazian, CEO of Aspen Reinsurance and James Few, President of Aspen Reinsurance. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Segment profit or loss for each of the Company's operating segments is measured by underwriting profit or loss. Underwriting profit is the sum of net earned premiums, losses and loss expenses, policy acquisition expenses and operating and administrative expenses. Underwriting profit or loss provides a basis for management to evaluate the segment's underwriting performance. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Information related to prior periods has been restated to conform to the current period presentation, where applicable. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Reinsurance Segment.</i>&nbsp;&nbsp;The reinsurance segment consists of four principal lines of business: property catastrophe reinsurance, other property reinsurance, casualty reinsurance and specialty reinsurance. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Property Catastrophe Reinsurance:</i>&nbsp;&nbsp;Property catastrophe reinsurance is generally written on an excess of loss basis. Excess of loss reinsurance provides coverage to primary insurance companies when aggregate claims and claim expenses from a single occurrence from a covered peril exceed a certain amount specified in a particular contract. Under these contracts, we provide protection to an insurer for a portion of the total losses in excess of a specified loss amount, up to a maximum amount per loss specified in the contract. In the event of a loss, most contracts provide for coverage of a second occurrence following the payment of a premium to reinstate the coverage under the contract, which is referred to as a reinstatement premium. A loss from a single occurrence is limited to the initial policy l imit and would not usually include the policy limit available following the payment of a reinstatement premium. The coverage provided under excess of loss reinsurance contracts may be on a worldwide basis or limited in scope to selected regions or geographical areas. </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><br />&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Other Property Reinsurance:</i>&nbsp;&nbsp;Other property reinsurance is written on an excess of loss, pro rata and facultative basis and consists of treaty risk excess, treaty pro rata, property facultative (U.S.&nbsp;and international) and our risk solutions business. Treaty risk excess of loss property treaty reinsurance provides coverage to a reinsured where it experiences a loss in excess of its retention level on a single "risk" basis, rather than to two or more risks in an insured event, as provided by catastrophe reinsurance. A "risk" in this context might mean the insurance coverage on one building or a group of buildings due to fire or explosion or the insurance coverage under a single policy which the reinsured treats as a single risk. This line of business is generally less exposed to accumulatio ns of exposures and losses but can still be impacted by natural catastrophes, such as earthquakes and hurricanes. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Our treaty pro rata reinsurance product provides proportional coverage to the reinsured rather than excess of loss. We share original losses in the same proportion as our share of premium and policy amounts although this may be subject to event limits which restrict the amount we are required to pay if the loss events affect more than one reinsured policy. Pro rata contracts typically involve close client relationships and frequent auditing. Treaty pro rata business is written on an excess of loss basis for primary insurers in the U.S.&nbsp;as well as worldwide. This line has dual distribution with business written both directly and through brokers. The U.S.&nbsp;property facultative account is mostly written on a direct basis, whereas the international account is written both on a direct basis and through brokers. This line o f business is not typically driven by natural perils. Our risk solutions business writes property insurance risks for a select group of U.S.&nbsp;program managers. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Casualty Reinsurance:</i>&nbsp;&nbsp;Casualty reinsurance is written on a risk excess, pro rata and facultative basis and consists of U.S.&nbsp;treaty, international treaty, and casualty facultative. The casualty treaty reinsurance business we write includes excess of loss and pro rata reinsurance which are applied to portfolios of primary insurance policies. We also write casualty facultative reinsurance, both U.S.&nbsp;and international. Our excess of loss positions come most commonly from layered reinsurance structures with underlying ceding company retentions. Our U.S.&nbsp;treaty business comprises of exposures to workers' compensation (including catastrophe), medical malpractice, general liability, auto liability and excess liability including umbrella liability. Our international treaty busine ss reinsures exposures mainly with respect to general liability, auto liability, professional liability, workers' compensation and excess liability. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Specialty Reinsurance:</i>&nbsp;&nbsp;Specialty reinsurance is written on a risk excess and treaty basis and consists of credit and surety reinsurance, structured risks, agriculture reinsurance and specialty lines (marine, aviation, satellite). Our specialty line of business is composed principally of reinsurance treaties covering interests similar to those underwritten in marine, energy, liability and aviation insurance, as well as contingency, terrorism, nuclear, personal accident and crop reinsurance. We also write satellite insurance and reinsurance. Our credit and surety reinsurance business consists of trade credit reinsurance, international surety reinsurance (mainly European, Japanese and Latin American risks and excluding the U.S.) and a political risks reinsurance portfolio. We also write structured re insurance contracts tailored to individual client circumstances. We entered the agricultural reinsurance market in February 2010 with a new team working in our Zurich office. This business consists of European agriculture reinsurance primarily written on a treaty basis covering crop and multi-peril business. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Insurance Segment.</i>&nbsp;&nbsp;Our insurance segment consists of property insurance, casualty insurance, marine, energy and transportation insurance and financial and professional lines insurance. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Property Insurance:</i>&nbsp;&nbsp;Our property insurance line comprises U.K. commercial property and construction and U.S.&nbsp;commercial property (excess and surplus lines basis), written on a primary, quota share and facultative basis. The U.S.&nbsp;property team focuses on mercantile, manufacturing, municipal and commercial real estate business. The U.K. commercial property insurance team focuses on providing physical damage and business interruption coverage as a result of weather, fire, theft and other causes. Our client base is predominantly U.K. institutional property owners, middle market corporate and public sector clients. </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><br />&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Casualty Insurance:</i>&nbsp;&nbsp;Our casualty insurance line comprises U.K. commercial liability, global excess casualty and U.S.&nbsp;casualty insurance (excess and surplus lines basis), written on a primary, quota share and facultative basis. We provide general liability, umbrella liability and certain Errors and Omissions ("E&amp;O") insurance products. The U.K. commercial liability team focuses on providing employers' liability coverage and public liability coverage for insureds domiciled in the United Kingdom and Ireland. The global excess casualty line writes large, sophisticated and risk-managed insureds worldwide. Our U.S.&nbsp;casualty insurance team covers broad-based risks including general liability, commercial and residential construction liability, life science, railroads, trucking, p roduct and public liability and associated types of cover found in general liability policies in the global insurance market. The team writes excess layers only, with 100% of layers or quota share as applicable, with a portion of the contracts being multi-year policies. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Marine, Energy and Transportation Insurance:</i>&nbsp;&nbsp;Our marine, energy and transportation insurance comprises marine, energy and construction ("M.E.C.") liability, energy physical damage, marine hull, specie, and aviation, written on a primary, quota share and facultative basis. The M.E.C. liability business includes marine liability cover mainly related to the liabilities of ship-owners and port operators, including reinsurance of Protection and Indemnity Clubs ("P&amp;I Clubs"). It also provides cover for the liabilities of companies in the oil and gas sector, both onshore and offshore and in the power generation and U.S.&nbsp;home builders sectors. In the energy physical damage line, we provide insurance cover against physical damage losses in addition to Operators Extra Expenses ("OEE") for c ompanies operating in the oil and gas exploration and production sector. The marine hull team writes insurance covering the risks of physical damage for ships (including war and associated perils) and related marine assets. The specie business line focuses on the insurance of high value property items on an all risks basis, including fine art, general and bank related specie, jewelers' block and armored car. The aviation team focuses on providing physical damage insurance to hulls and spares (including war and associated perils) and comprehensive legal liability for airlines, smaller operators of airline equipment, airports and associated business and non-critical component part manufacturers. We also provide aviation hull deductible cover. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Financial and Professional Lines Insurance:</i>&nbsp;&nbsp;Our financial and professional lines comprises financial institutions, professional liability (including management&nbsp;&amp; technology liability) and financial and political risks, written on a primary, quota share and facultative basis. Our financial institutions business consists of professional liability, crime insurance and directors' and officers' cover. From a geographical perspective, the largest sector of the account comprises risks headquartered in the U.K., the next largest contributors are from Australia and the U.S.&nbsp;and, of the remainder, the largest amounts of business are from institutions in Canada, Western Europe and Scandinavia. We write both primary and excess of loss coverage for all types of financial institutions including commercial and investment banks, asset managers, insurance companies, stockbrokers and insureds with hybrid business models. Our professional liability team writes an international portfolio of professional liability risks. The majority of our business emanates from the U.K. with some Australian and European business. We insure a wide range of professions including lawyers, surveyors, accountants, engineers, contractors and financial advisors. Risks are written on both a primary and excess of loss basis. We also write directors' and officers' insurance, technology-related policies in the areas of network privacy, misuse of data and cyber liability and warranty and indemnity insurance in connection with, or to facilitate, corporate transactions. Coverage is written on both a primary and excess basis. The financial and political risks team writes business covering the credit/default risk on a variety of project and trade transactions, as well as political risks, terrorism (including multi-year war on land cover) and kidnap and ransom ("K&amp;R"). We write financial and political risks worldwide but with concentrations in a number of key countries, such as China, Egypt, Kazakhstan, Russia, South Korea, Switzerland, U.K. and Turkey. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Non-underwriting Disclosures:</i>&nbsp;&nbsp;We have provided additional disclosures for corporate and other (non-underwriting) income and expenses. Corporate and other includes net investment income, net realized and unrealized investment gains or losses, corporate expenses, interest expense, net realized and unrealized foreign exchange gains or losses and income taxes, which are not allocated to the underwriting segments. </div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following tables provide a summary of gross and net written and earned premiums, underwriting results, ratios and reserves for each of our business segments for the three months ended June&nbsp;30, 2010 and 2009: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="69%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="7%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Three Months Ended June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Reinsurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Insurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting revenues</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">283.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">262.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">545.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">279.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">259.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">538.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">302.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">220.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">523.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">291.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">188.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">479.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting Expenses</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Losses and loss expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">146.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">130.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">276.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Policy acquisition expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">47.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">30.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Operating and administrative expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">30.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">21.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">52.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Underwriting profit </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">67.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">73.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(10.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net investment income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">57.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Realized investment gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Change in fair value of derivatives </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(2.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Interest on long term debt </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(4.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net foreign exchange gains/(losses) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(2.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Other income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net income before tax </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">121.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net reserves for loss and loss adjustment expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2,189.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,048.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3,238.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Ratios</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Loss ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">50.3 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">69.1 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">57.7 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Policy acquisition expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Operating and administrative expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">10.3 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">11.6 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">13.0 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">26.5 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">27.8 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">29.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Combined ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">76.8 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">96.9 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">86.9 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="69%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="7%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Three Months Ended June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Reinsurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Insurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting revenues</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">257.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">276.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">534.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">255.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">228.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">484.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">268.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">222.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">491.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">255.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">173.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">428.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting Expenses</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Losses and loss expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">102.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">131.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">234.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Policy acquisition expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">51.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">29.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">80.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Operating and administrative expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">23.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">27.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">50.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Underwriting profit/(loss) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(14.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">62.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(9.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net investment income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">72.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Realized investment gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Change in fair value of derivatives </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Interest on long term debt </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(4.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net foreign exchange gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Other income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net income before tax </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">130.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net reserves for loss and loss adjustment expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,917.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,021.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2,938.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Ratios</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Loss ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">40.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">76.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">54.8 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Policy acquisition expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">20.3 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.8 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">18.9 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Operating and administrative expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">9.0 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">15.7 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">14.0 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">29.3 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">32.5 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">32.9 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Combined ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">69.5 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">108.7 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">87.7 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following tables provide a summary of gross and net written and earned premiums, underwriting results, ratios and reserves for each of our business segments for the six months ended June&nbsp;30, 2010 and 2009. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="69%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="7%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Six Months Ended June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Reinsurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Insurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting revenues</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">773.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">474.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,248.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">740.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">378.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,118.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">604.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">436.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,040.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">582.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">365.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">947.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting Expenses</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Losses and loss expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">403.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">252.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">655.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Policy acquisition expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">99.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">62.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">162.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Operating and administrative expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">52.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">42.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">94.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Underwriting profit </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">26.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">35.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(20.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net investment income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">116.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Realized investment gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">18.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Change in fair value of derivatives </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(4.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Interest on long term debt </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(7.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net foreign exchange (losses)/gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Other income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net income before tax </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">141.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net reserves for loss and loss adjustment expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2,189.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,048.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3,238.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Ratios</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Loss ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">69.3 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">69.1 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">69.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Policy acquisition expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">17.1 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">17.1 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">17.1 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Operating and administrative expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">9.0 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">11.6 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">12.1 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">26.1 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">28.7 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">29.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Combined ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">95.4 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">97.8 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">98.4 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="69%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="7%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Six Months Ended June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Reinsurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Insurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting revenues</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">710.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">460.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,171.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">669.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">322.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">991.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">556.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">428.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">984.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">530.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">345.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">875.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting Expenses</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Losses and loss expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">224.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">260.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">485.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Policy acquisition expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">103.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">56.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">159.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Operating and administrative expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">41.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">47.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">88.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Underwriting profit/(loss) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">161.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(19.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">142.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(19.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net investment income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">131.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Realized investment (losses)/gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(7.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Change in fair value of derivatives </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Interest on long term debt </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(7.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net foreign exchange gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Other income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net income before tax </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">237.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net reserves for loss and loss adjustment expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,917.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,021.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2,938.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Ratios</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Loss ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">42.4 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">75.5 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">55.4 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Policy acquisition expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">19.4 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.3 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">18.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Operating and administrative expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">7.8 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">13.7 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">12.4 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">27.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">30.0 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">30.6 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Combined ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">69.6 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">105.5 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">86.0 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr></table></div> </div> 108400000 59900000 115100000 62600000 8300000 3200000 3305400000 3303900000 2779100000 -1400000 53300000 87600000 1754800000 100000 884700000 2972500000 -1300000 91900000 78500000 1754100000 100000 1049200000 3305400000 -1200000 155100000 103400000 1763000000 100000 1285000000 3303900000 -1200000 255000000 106500000 1566200000 100000 1377300000 38600000 38600000 99900000 99900000 25100000 25100000 8300000 8300000 3200000 3200000 -200000000 -200000000 348100000 371400000 3500000 2500000 -34100000 -34100000 907600000 1061200000 84612770 85646132 80706276 80727255 82241370 82940270 77341732 77289082 EX-101.SCH 3 ahl-20100630.xsd EX-101 SCHEMA DOCUMENT 00100 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS link:presentationLink link:calculationLink link:definitionLink 00200 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS link:presentationLink link:calculationLink link:definitionLink 00300 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY link:presentationLink link:calculationLink link:definitionLink 00400 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME link:presentationLink link:calculationLink link:definitionLink 00500 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS link:presentationLink link:calculationLink link:definitionLink 00090 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00110 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] link:presentationLink link:calculationLink link:definitionLink 10101 - Disclosure - History and Organization link:presentationLink link:calculationLink link:definitionLink 10201 - Disclosure - Basis of Preparation link:presentationLink link:calculationLink link:definitionLink 10301 - Disclosure - Acquisitions link:presentationLink link:calculationLink link:definitionLink 10401 - Disclosure - Earnings Per Ordinary Share link:presentationLink link:calculationLink link:definitionLink 10501 - Disclosure - Segment Reporting link:presentationLink link:calculationLink link:definitionLink 10601 - Disclosure - Investments link:presentationLink link:calculationLink link:definitionLink 10701 - Disclosure - Fair Value Measurements link:presentationLink link:calculationLink link:definitionLink 10801 - Disclosure - Reinsurance link:presentationLink link:calculationLink link:definitionLink 10901 - Disclosure - Derivative Contracts link:presentationLink link:calculationLink link:definitionLink 11001 - Disclosure - Reserves for Losses and Adjustment Expenses link:presentationLink link:calculationLink link:definitionLink 11101 - Disclosure - Capital Structure link:presentationLink link:calculationLink link:definitionLink 11201 - Disclosure - Share Based Payments link:presentationLink link:calculationLink link:definitionLink 11301 - Disclosure - Intangible Assets link:presentationLink link:calculationLink link:definitionLink 11401 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 4 ahl-20100630_cal.xml EX-101 CALCULATION LINKBASE DOCUMENT EX-101.LAB 5 ahl-20100630_lab.xml EX-101 LABELS LINKBASE DOCUMENT EX-101.PRE 6 ahl-20100630_pre.xml EX-101 PRESENTATION LINKBASE DOCUMENT EX-101.DEF 7 ahl-20100630_def.xml EX-101 DEFINITION LINKBASE DOCUMENT XML 8 R19.xml IDEA: Share Based Payments  2.2.0.7 false Share Based Payments 11201 - Disclosure - Share Based Payments true false false false 1 USD false false Unit1 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit12 Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 5 3 us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false false 1 false false false false 0 0 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">12.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Share Based Payments</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The Company has issued options and other equity incentives under four arrangements: investor options, employee awards, non-employee director awards and the employee share purchase plans. When options are exercised or other equity awards have vested, new shares are issued as the Company does not currently hold treasury shares. The Company applies a fair value based measurement method and an estimate of future forfeitures in the calculation of the compensation costs of stock options and restricted share units. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Investor Options.</i>&nbsp;&nbsp;The investor options were issued on June&nbsp;21, 2002 to Wellington Investment Holdings (Jersey) Limited ("Wellington Investment") and members of Syndicate 2020 who were not corporate members of Syndicate 2020. The options conferred to the members of Syndicate 2020 are held for their benefit by Appleby Services (Bermuda) Ltd. (formerly Appleby Trust (Bermuda) Limited) ("Names' Trustee"). The subscription price payable under the options is initially &#163;10 and increases by 5% per annum, less any dividends paid. Option holders are not entitled to participate in any dividends prior to exercise and would not rank as a creditor in the event of liquidation. If not exercised, the options will expire on June&nbsp;21, 2012. Wellington Investment exercised all of its options on March&nbsp;28, 2007. During the three and six months ended June&nbsp;30, 2010, the Names' Trustee exercised 4,195 and 5,365 options on a cash and cashless basis, respectively (2009&nbsp;&#8212; Nil and 3,842 options). </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Employee and Non-Executive Director Awards.</i>&nbsp;&nbsp;Employee options and other awards are granted under the Aspen 2003&nbsp;Share Incentive Plan and non-executive director awards are granted under the 2006 Stock Option Plan for Non-Employee Directors. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Stock options are granted with an exercise price equivalent to the fair value of the share on the grant date. The weighted average value at grant date is determined using the Black-Scholes option pricing model. Stock options typically vest over a three-year period with a ten-year contract period (except for options granted in 2007 which have a <font style="white-space: nowrap;" class="_mt">7-year</font> exercise period) with vesting dependent on time and performance conditions established at the time of grant. No options were granted in the three and six months ended June&nbsp;30, 2010 (2009&nbsp;&#8212; Nil); 146,850 options were exercised during the three months ended June&nbsp;30, 2010 (2009&nbsp;&#8212; 58,459); and 521,811 options were exercised during the six months ended June&nbsp;30, 201 0 (2009&nbsp;&#8212; 58,459). Compensation costs charged against income in respect of employee options for the three and six months ended June&nbsp;30, 2010 were a credit of $0.8&nbsp;million and a credit of $0.5&nbsp;million, respectively (2009&nbsp;&#8212; $0.5&nbsp;million and $1.1&nbsp;million). </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><br />&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Restricted share units ("RSU's") to employees vest equally over a two or three-year period. Some of the grants vest at year-end, while some other grants vest on the anniversary of the date of grant or when the Compensation Committee of the Board agrees to deliver them. The fair value of the restricted share units is based on the closing price on the date of the grant. The fair value is expensed through the income statement evenly over the vesting period. During the three and six months ended June&nbsp;30, 2010, the Company granted to employees 75,701 and 108,455 restricted share units, respectively (2009&nbsp;&#8212; 2,915 and 42,291). In the case of non-employee directors, one-twelfth of the RSU's vest on each one month anniversary of the date of grant, with 100% of the RSU's becoming vested on the first anniversary of th e date of grant. On February&nbsp;9, 2010 (with a grant date of February&nbsp;11, 2010), the Board of Directors approved a total of 28,640 RSU's for the non-employee directors (April&nbsp;29, 2009&nbsp;&#8212; 25,316) and 17,902 RSU's to the Chairman (April&nbsp;29, 2009 &#8212;&nbsp;8,439). Compensation costs charged against income in respect of restricted share units for the three and six months ended June&nbsp;30, 2010 were $0.8&nbsp;million and $1.6&nbsp;million, respectively (2009&nbsp;&#8212; $0.8&nbsp;million and $1.4&nbsp;million). </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The fair value of performance share awards is based on the value of the average of the high and low of the share price on the date of the grant less a deduction for expected dividends which would not accrue during the vesting period. Performance shares vest over a three or four-year period with shares eligible for vesting dependent on the achievement of performance targets at the end of specified periods as established at the time of grant. Compensation costs charged against income in the three and six months ended June&nbsp;30, 2010 in respect of performance shares were a credit of $0.9&nbsp;million and a charge of $2.3&nbsp;million, respectively (2009&nbsp;&#8212; $3.2&nbsp;million and $6.4&nbsp;million). </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On February&nbsp;8, 2010, the Compensation Committee approved the grant of 720,098 performance shares with a grant date of February&nbsp;11, 2010. The performance shares will be subject to a three-year vesting period with a separate annual Return on Equity ("ROE") test for each year. One-third of the grant will be eligible for vesting each year based on the following formula, and will only be issuable at the end of the three-year period. If the ROE achieved in any given year is less than 7%, then the portion of the performance shares subject to the vesting conditions in such year will be forfeited (i.e. 33.33% of the initial grant). If the ROE achieved in any given year is between 7% and 12%, then the percentage of the performance shares eligible for vesting in such year will be between 10% and 100% on a straight-line basis. I f the ROE achieved in any given year is between 12% and 22%, then the percentage of the performance shares eligible for vesting in such year will be between 100% and 200% on a straight-line basis. Notwithstanding the vesting criteria for each given year, if in any given year, the shares eligible for vesting are greater than 100% for the portion of such year's grant (i.e. the ROE was greater than 12% in such year) and the average ROE over such year and the preceding year is less than 7%, then only 100% (and no more) of the shares that are eligible for vesting in such year shall vest. If the average ROE over the two years is greater than 7%, then there will be no diminution in vesting and the shares eligible for vesting in such year will vest in accordance with the vesting schedule without regard to the average ROE over the two-year period. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Employee Share Purchase Plans.</i>&nbsp;&nbsp;On April&nbsp;30, 2008, the shareholders of the Company approved the Employee Share Purchase Plan (the "ESPP"), the 2008&nbsp;Sharesave Scheme and the International Employee Share Purchase Plan, which are implemented by a series of consecutive offering periods as determined by the Board. In respect of the ESPP, employees can save up to $500 per month over a two-year period, at the end of which they will be eligible to purchase Company shares at a discounted price. In respect of the 2008 Sharesave Scheme, employees can save up to &#163;250 per month over a three-year period, at the end of which they will be eligible to purchase Company shares at a discounted price. The purchase price will be eighty-five percent (85%) of the fair market value of a share on the offering date which may be adjusted upon changes in capitalization of the Company. No shares were issued under the plan during the three and six months ended June&nbsp;30, 2010 (2009&nbsp;&#8212; $Nil). Compensation costs charged against income in the three and six months ended June&nbsp;30, 2010 in respect of the ESPP were $Nil and $0.4&nbsp;million, respectively (2009&nbsp;&#8212; $Nil and $Nil).</div></div> </div> 12.&nbsp;&nbsp; Share Based Payments &nbsp; The Company has issued options and other equity incentives under four arrangements: investor options, employee false false false us-types:textBlockItemType textblock Disclosure of compensation-related costs for share-based compensation which may include disclosure of policies, compensation plan details, allocation of stock compensation, incentive distributions, share-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 false 1 1 false UnKnown UnKnown UnKnown false true XML 9 R11.xml IDEA: Earnings Per Ordinary Share  2.2.0.7 false Earnings Per Ordinary Share 10401 - Disclosure - Earnings Per Ordinary Share true false false false 1 USD false false Unit1 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit12 Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 5 3 us-gaap_EarningsPerShareTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false false 1 false false false false 0 0 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">4.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Earnings Per Ordinary Share</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Basic earnings per ordinary share are calculated by dividing net income available to holders of Aspen's ordinary shares by the weighted average number of ordinary shares outstanding. Diluted earnings per ordinary share are based on the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding during the period of calculation using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June&nbsp;30, 2010 and 2009, respectively: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="44%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="10%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="10%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="10%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="10%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Three Months Ended June&nbsp;30,</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Six Months Ended June&nbsp;30,</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>2009</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="14" align="center"><b>($ in millions, except share and per share amounts)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Earnings</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Basic </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net income as reported </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">108.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">110.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">127.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">201.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Preference dividends </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(5.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(5.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(11.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(12.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Preference stock repurchase gain </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">31.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net income available to ordinary shareholders </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">103.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">104.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">115.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">220.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Diluted </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net income available to ordinary shareholders </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">103.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">104.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">115.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">220.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Ordinary shares </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Basic </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Weighted average ordinary shares </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77,289,082 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">82,940,270 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77,341,732 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">82,241,370 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Diluted </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Weighted average ordinary shares </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77,289,082 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">82,940,270 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77,341,732 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">82,241,370 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Weighted average effect of dilutive securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3,438,173 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,705,862 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3,364,544 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,371,400 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">80,727,255 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">85,646,132 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">80,706,276 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">84,612,770 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Earnings per ordinary share </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Basic </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.34 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.26 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.50 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2.68 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Diluted </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.28 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.22 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.43 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2.61 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Ordinary Share Repurchases.</i>&nbsp;&nbsp;On January&nbsp;5, 2010, we entered into an accelerated share repurchase program with Goldman Sachs&nbsp;&amp; Co. ("Goldman Sachs") to repurchase $200&nbsp;million of our ordinary shares. The transaction was completed on May&nbsp;21, 2010, when a total of 7,226,084&nbsp;ordinary shares were received and cancelled during the first six months of 2010. The repurchase completes the share repurchase program authorized by the Board of Directors and announced on February&nbsp;6, 2008. The purchase was funded with cash available and the sale of investment assets. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On February&nbsp;9, 2010, our Board of Directors authorized a new repurchase program for up to $400&nbsp;million of ordinary shares. This share repurchase program was in addition to the completed accelerated share repurchase program entered into on January&nbsp;5, 2010. The authorization covers the period to March&nbsp;1, 2012. </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><br />&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Purchase of preference shares.</i>&nbsp;&nbsp;On March&nbsp;31, 2009, we purchased 2,672,500 of our 7.401% $25 liquidation price preference shares (NYSE: AHL-PA) at a price of $12.50 per share. The purchase resulted in a first quarter gain of approximately $31.5&nbsp;million, net of a non-cash charge of $1.2&nbsp;million reflecting the write off of the pro rata portion of the original issuance costs of the 7.401% preference shares. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Dividends.</i>&nbsp;&nbsp;On July&nbsp;28, 2010, the Company's Board of Directors declared the following quarterly dividends: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="45%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="17%">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="20%">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Dividend</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Payable on:</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Record Date:</b> </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Ordinary shares </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">0.15 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" align="center">August 27, 2010 </td> <td>&nbsp; </td> <td valign="bottom" align="center">August 12, 2010 </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">5.625% preference shares </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">0.703125 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" align="center">October 1, 2010 </td> <td>&nbsp; </td> <td valign="bottom" align="center">September 15, 2010 </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">7.401% preference shares </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">0.462563 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" align="center">October 1, 2010 </td> <td>&nbsp; </td> <td valign="bottom" align="center">September 15, 2010 </td></tr></table></div> </div> 4.&nbsp;&nbsp; Earnings Per Ordinary Share &nbsp; Basic earnings per ordinary share are calculated by dividing net income available to holders of Aspen's false false false us-types:textBlockItemType textblock This element may be used to capture the complete disclosure pertaining to an entity's earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 false 1 1 false UnKnown UnKnown UnKnown false true XML 10 R10.xml IDEA: Acquisitions  2.2.0.7 false Acquisitions 10301 - Disclosure - Acquisitions true false false false 1 USD false false Unit1 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit12 Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 5 3 ahl_AcquisitionsAhl ahl false na duration Acquisitions false false false false false false false false false false false terselabel false 1 false false false false 0 0 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="3%"> </td> <td width="97%"> </td></tr> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">3.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Acquisitions</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On February&nbsp;4, 2010, we entered into a stock purchase agreement to purchase a U.S.&nbsp;insurance company with licenses to write insurance business on an admitted basis in the U.S.&nbsp;We will pay an amount in cash equal to $10.0&nbsp;million plus the amount of the target company's closing surplus. The company is currently licensed to write business in 50&nbsp;states and the District of Columbia. 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Its principal operating subsidiaries are Aspen Insurance UK Limited ("Aspen U.K."), Aspen Insurance Limited ("Aspen Bermuda"), Aspen Specialty Insurance Company ("Aspen Specialty") and Aspen Underwriting Limited (corporate member of Lloyd's Syndicate 4711, "AUL"), (collectively, the "Insurance Subsidiaries").</div></div> </div> 1.&nbsp;&nbsp; History and Organization &nbsp; Aspen Insurance Holdings Limited ("Aspen Holdings") was incorporated on May&nbsp;23, 2002 and holds false false false us-types:textBlockItemType textblock Description containing the entire organization, consolidation and basis of presentation of financial statements disclosure. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS140-4 and FIN46(R)-8 -Paragraph 8, C1, C7 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 2-6 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 94-6 -Paragraph 10 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 46R -Paragraph 4, 14, 15 false 1 1 false UnKnown UnKnown UnKnown false true XML 13 R18.xml IDEA: Capital Structure  2.2.0.7 false Capital Structure 11101 - Disclosure - Capital Structure true false false false 1 USD false false Unit1 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit12 Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 5 3 us-gaap_ScheduleOfCapitalUnitsTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false false 1 false false false false 0 0 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">11.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Capital Structure</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table provides a summary of the Company's authorized and issued share capital at June&nbsp;30, 2010 and December&nbsp;31, 2009. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="53%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>As at June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>As at December&nbsp;31, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>$ in<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>$ in<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Number</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Thousands</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Number</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Thousands</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Authorized Share Capital </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Ordinary shares 0.15144558&#162; per share </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">969,629,030 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,469 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">969,629,030 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,469 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Non-Voting shares 0.15144558&#162; per share </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6,787,880 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">10 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6,787,880 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">10 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Preference shares 0.15144558&#162; per share </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">100,000,000 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">152 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">100,000,000 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">152 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="55%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="7%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="7%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>$ in<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>$ in<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Number</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Thousands</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Number</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Thousands</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Issued Share Capital </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Issued ordinary shares of 0.15144558&#162; per share </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">76,700,990 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">116 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">83,327,594 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">126 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Issued preference shares of 0.15144558&#162; each with a liquidation preference of $50 per share </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4,600,000 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4,600,000 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Issued preference shares of 0.15144558&#162; each with a liquidation preference of $25 per share </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5,327,500 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5,327,500 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total issued share capital </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">131 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">141 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="55%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>$ in<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>$ in<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Millions</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Millions</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Additional paid-in capital </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,566.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,763.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Ordinary Shares.</i>&nbsp;&nbsp;The following table summarizes transactions in our ordinary shares during the six month period ended June&nbsp;30, 2010. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="89%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="7%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Number of <br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Shares</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Shares in issue at December&nbsp;31, 2009</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">83,327,594 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;"><i>Share transactions in the six months ended June 30, 2010:</i> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Shares issued to the Names' trust upon exercise of investor options (refer to Note&nbsp;12) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5,365 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Shares issued to employees under the share incentive plan </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">594,115 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Repurchase of shares from shareholders(1) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(7,226,084 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Shares in issue at June&nbsp;30, 2010</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">76,700,990 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="border-bottom: #000000 1pt solid; width: 13%; margin-left: 0%; font-size: 1pt; align: left;"> </div> <div style="margin-top: 3pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"> </td> <td width="1%"> </td> <td width="97%"> </td></tr> <tr><td valign="top" align="right"><font style="font-size: 10pt;" class="_mt">(1) </font></td> <td> </td> <td valign="bottom"><font style="font-size: 10pt;" class="_mt">During 2010, 7,226,084 ordinary shares were acquired and cancelled. Further information related to the accelerated share repurchase program is described below. </font></td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Ordinary Share Repurchases.</i>&nbsp;&nbsp;On January&nbsp;5, 2010, we entered into an accelerated share repurchase program with Goldman Sachs to repurchase $200&nbsp;million of our ordinary shares. The transaction was completed on May&nbsp;21, 2010, when a total of 7,226,084 ordinary shares were received and cancelled during the first six months of 2010. The repurchase completes the share repurchase program authorized by the Board of Directors and announced on February&nbsp;6, 2008. The purchase was funded with cash available and the sale of investment assets. </div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On February&nbsp;9, 2010, our Board of Directors authorized a new repurchase program for up to $400&nbsp;million of ordinary shares. This share repurchase program was in addition to the completed accelerated share repurchase program entered into on January&nbsp;5, 2010. The authorization covers the period to March&nbsp;1, 2012. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On June&nbsp;23, 2010, an agreement was signed to repurchase 10,835&nbsp;shares from the Names' Trustee. The shares were repurchased on July&nbsp;7, 2010 and subsequently cancelled.</div></div> </div> 11.&nbsp;&nbsp; Capital Structure &nbsp; The following table provides a summary of the Company's authorized and issued share capital at June&nbsp;30, 2010 false false false us-types:textBlockItemType textblock This element may be used to capture the complete disclosure pertaining to an entity's capital units or capital shares, including the value of capital units or capital shares, units authorized, units outstanding and other information necessary to a fair presentation. No authoritative reference available. false 1 1 false UnKnown UnKnown UnKnown false true XML 14 R12.xml IDEA: Segment Reporting  2.2.0.7 false Segment Reporting 10501 - Disclosure - Segment Reporting true false false false 1 USD false false Unit1 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit12 Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 5 3 us-gaap_SegmentReportingDisclosureTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false false 1 false false false false 0 0 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">5.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Segment Reporting</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On January&nbsp;14, 2010, we announced a new organizational structure in accordance with the way in which we manage our insurance and reinsurance businesses as two underwriting segments, Aspen Insurance and Aspen Reinsurance, to enhance and better serve our global customer base. In arriving at these reporting segments, we considered similarities in economic characteristics, products, customers, distribution, and the regulatory environment. As discussed above, as a result of our organizational changes, in 2010 we now manage our underwriting business in two operating segments: Insurance and Reinsurance. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Under the new organizational structure, our insurance segment is comprised primarily of the existing international insurance and U.S.&nbsp;insurance segments, with Rupert Villers acting as CEO of Aspen Insurance. William Murray continues to lead our U.S.&nbsp;Insurance business forming part of our newly established insurance segment. Our reinsurance segment is comprised of property reinsurance (catastrophe and other), casualty reinsurance and specialty reinsurance (a portion of the latter previously included in international insurance). The reinsurance segment is led by Brian Boornazian, CEO of Aspen Reinsurance and James Few, President of Aspen Reinsurance. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Segment profit or loss for each of the Company's operating segments is measured by underwriting profit or loss. Underwriting profit is the sum of net earned premiums, losses and loss expenses, policy acquisition expenses and operating and administrative expenses. Underwriting profit or loss provides a basis for management to evaluate the segment's underwriting performance. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Information related to prior periods has been restated to conform to the current period presentation, where applicable. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Reinsurance Segment.</i>&nbsp;&nbsp;The reinsurance segment consists of four principal lines of business: property catastrophe reinsurance, other property reinsurance, casualty reinsurance and specialty reinsurance. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Property Catastrophe Reinsurance:</i>&nbsp;&nbsp;Property catastrophe reinsurance is generally written on an excess of loss basis. Excess of loss reinsurance provides coverage to primary insurance companies when aggregate claims and claim expenses from a single occurrence from a covered peril exceed a certain amount specified in a particular contract. Under these contracts, we provide protection to an insurer for a portion of the total losses in excess of a specified loss amount, up to a maximum amount per loss specified in the contract. In the event of a loss, most contracts provide for coverage of a second occurrence following the payment of a premium to reinstate the coverage under the contract, which is referred to as a reinstatement premium. A loss from a single occurrence is limited to the initial policy l imit and would not usually include the policy limit available following the payment of a reinstatement premium. The coverage provided under excess of loss reinsurance contracts may be on a worldwide basis or limited in scope to selected regions or geographical areas. </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><br />&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Other Property Reinsurance:</i>&nbsp;&nbsp;Other property reinsurance is written on an excess of loss, pro rata and facultative basis and consists of treaty risk excess, treaty pro rata, property facultative (U.S.&nbsp;and international) and our risk solutions business. Treaty risk excess of loss property treaty reinsurance provides coverage to a reinsured where it experiences a loss in excess of its retention level on a single "risk" basis, rather than to two or more risks in an insured event, as provided by catastrophe reinsurance. A "risk" in this context might mean the insurance coverage on one building or a group of buildings due to fire or explosion or the insurance coverage under a single policy which the reinsured treats as a single risk. This line of business is generally less exposed to accumulatio ns of exposures and losses but can still be impacted by natural catastrophes, such as earthquakes and hurricanes. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Our treaty pro rata reinsurance product provides proportional coverage to the reinsured rather than excess of loss. We share original losses in the same proportion as our share of premium and policy amounts although this may be subject to event limits which restrict the amount we are required to pay if the loss events affect more than one reinsured policy. Pro rata contracts typically involve close client relationships and frequent auditing. Treaty pro rata business is written on an excess of loss basis for primary insurers in the U.S.&nbsp;as well as worldwide. This line has dual distribution with business written both directly and through brokers. The U.S.&nbsp;property facultative account is mostly written on a direct basis, whereas the international account is written both on a direct basis and through brokers. This line o f business is not typically driven by natural perils. Our risk solutions business writes property insurance risks for a select group of U.S.&nbsp;program managers. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Casualty Reinsurance:</i>&nbsp;&nbsp;Casualty reinsurance is written on a risk excess, pro rata and facultative basis and consists of U.S.&nbsp;treaty, international treaty, and casualty facultative. The casualty treaty reinsurance business we write includes excess of loss and pro rata reinsurance which are applied to portfolios of primary insurance policies. We also write casualty facultative reinsurance, both U.S.&nbsp;and international. Our excess of loss positions come most commonly from layered reinsurance structures with underlying ceding company retentions. Our U.S.&nbsp;treaty business comprises of exposures to workers' compensation (including catastrophe), medical malpractice, general liability, auto liability and excess liability including umbrella liability. Our international treaty busine ss reinsures exposures mainly with respect to general liability, auto liability, professional liability, workers' compensation and excess liability. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Specialty Reinsurance:</i>&nbsp;&nbsp;Specialty reinsurance is written on a risk excess and treaty basis and consists of credit and surety reinsurance, structured risks, agriculture reinsurance and specialty lines (marine, aviation, satellite). Our specialty line of business is composed principally of reinsurance treaties covering interests similar to those underwritten in marine, energy, liability and aviation insurance, as well as contingency, terrorism, nuclear, personal accident and crop reinsurance. We also write satellite insurance and reinsurance. Our credit and surety reinsurance business consists of trade credit reinsurance, international surety reinsurance (mainly European, Japanese and Latin American risks and excluding the U.S.) and a political risks reinsurance portfolio. We also write structured re insurance contracts tailored to individual client circumstances. We entered the agricultural reinsurance market in February 2010 with a new team working in our Zurich office. This business consists of European agriculture reinsurance primarily written on a treaty basis covering crop and multi-peril business. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Insurance Segment.</i>&nbsp;&nbsp;Our insurance segment consists of property insurance, casualty insurance, marine, energy and transportation insurance and financial and professional lines insurance. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Property Insurance:</i>&nbsp;&nbsp;Our property insurance line comprises U.K. commercial property and construction and U.S.&nbsp;commercial property (excess and surplus lines basis), written on a primary, quota share and facultative basis. The U.S.&nbsp;property team focuses on mercantile, manufacturing, municipal and commercial real estate business. The U.K. commercial property insurance team focuses on providing physical damage and business interruption coverage as a result of weather, fire, theft and other causes. Our client base is predominantly U.K. institutional property owners, middle market corporate and public sector clients. </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><br />&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Casualty Insurance:</i>&nbsp;&nbsp;Our casualty insurance line comprises U.K. commercial liability, global excess casualty and U.S.&nbsp;casualty insurance (excess and surplus lines basis), written on a primary, quota share and facultative basis. We provide general liability, umbrella liability and certain Errors and Omissions ("E&amp;O") insurance products. The U.K. commercial liability team focuses on providing employers' liability coverage and public liability coverage for insureds domiciled in the United Kingdom and Ireland. The global excess casualty line writes large, sophisticated and risk-managed insureds worldwide. Our U.S.&nbsp;casualty insurance team covers broad-based risks including general liability, commercial and residential construction liability, life science, railroads, trucking, p roduct and public liability and associated types of cover found in general liability policies in the global insurance market. The team writes excess layers only, with 100% of layers or quota share as applicable, with a portion of the contracts being multi-year policies. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Marine, Energy and Transportation Insurance:</i>&nbsp;&nbsp;Our marine, energy and transportation insurance comprises marine, energy and construction ("M.E.C.") liability, energy physical damage, marine hull, specie, and aviation, written on a primary, quota share and facultative basis. The M.E.C. liability business includes marine liability cover mainly related to the liabilities of ship-owners and port operators, including reinsurance of Protection and Indemnity Clubs ("P&amp;I Clubs"). It also provides cover for the liabilities of companies in the oil and gas sector, both onshore and offshore and in the power generation and U.S.&nbsp;home builders sectors. In the energy physical damage line, we provide insurance cover against physical damage losses in addition to Operators Extra Expenses ("OEE") for c ompanies operating in the oil and gas exploration and production sector. The marine hull team writes insurance covering the risks of physical damage for ships (including war and associated perils) and related marine assets. The specie business line focuses on the insurance of high value property items on an all risks basis, including fine art, general and bank related specie, jewelers' block and armored car. The aviation team focuses on providing physical damage insurance to hulls and spares (including war and associated perils) and comprehensive legal liability for airlines, smaller operators of airline equipment, airports and associated business and non-critical component part manufacturers. We also provide aviation hull deductible cover. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Financial and Professional Lines Insurance:</i>&nbsp;&nbsp;Our financial and professional lines comprises financial institutions, professional liability (including management&nbsp;&amp; technology liability) and financial and political risks, written on a primary, quota share and facultative basis. Our financial institutions business consists of professional liability, crime insurance and directors' and officers' cover. From a geographical perspective, the largest sector of the account comprises risks headquartered in the U.K., the next largest contributors are from Australia and the U.S.&nbsp;and, of the remainder, the largest amounts of business are from institutions in Canada, Western Europe and Scandinavia. We write both primary and excess of loss coverage for all types of financial institutions including commercial and investment banks, asset managers, insurance companies, stockbrokers and insureds with hybrid business models. Our professional liability team writes an international portfolio of professional liability risks. The majority of our business emanates from the U.K. with some Australian and European business. We insure a wide range of professions including lawyers, surveyors, accountants, engineers, contractors and financial advisors. Risks are written on both a primary and excess of loss basis. We also write directors' and officers' insurance, technology-related policies in the areas of network privacy, misuse of data and cyber liability and warranty and indemnity insurance in connection with, or to facilitate, corporate transactions. Coverage is written on both a primary and excess basis. The financial and political risks team writes business covering the credit/default risk on a variety of project and trade transactions, as well as political risks, terrorism (including multi-year war on land cover) and kidnap and ransom ("K&amp;R"). We write financial and political risks worldwide but with concentrations in a number of key countries, such as China, Egypt, Kazakhstan, Russia, South Korea, Switzerland, U.K. and Turkey. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Non-underwriting Disclosures:</i>&nbsp;&nbsp;We have provided additional disclosures for corporate and other (non-underwriting) income and expenses. Corporate and other includes net investment income, net realized and unrealized investment gains or losses, corporate expenses, interest expense, net realized and unrealized foreign exchange gains or losses and income taxes, which are not allocated to the underwriting segments. </div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following tables provide a summary of gross and net written and earned premiums, underwriting results, ratios and reserves for each of our business segments for the three months ended June&nbsp;30, 2010 and 2009: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="69%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="7%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Three Months Ended June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Reinsurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Insurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting revenues</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">283.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">262.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">545.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">279.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">259.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">538.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">302.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">220.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">523.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">291.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">188.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">479.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting Expenses</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Losses and loss expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">146.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">130.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">276.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Policy acquisition expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">47.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">30.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Operating and administrative expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">30.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">21.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">52.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Underwriting profit </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">67.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">73.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(10.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net investment income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">57.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Realized investment gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Change in fair value of derivatives </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(2.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Interest on long term debt </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(4.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net foreign exchange gains/(losses) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(2.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Other income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net income before tax </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">121.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net reserves for loss and loss adjustment expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2,189.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,048.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3,238.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Ratios</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Loss ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">50.3 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">69.1 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">57.7 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Policy acquisition expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Operating and administrative expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">10.3 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">11.6 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">13.0 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">26.5 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">27.8 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">29.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Combined ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">76.8 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">96.9 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">86.9 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="69%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="7%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Three Months Ended June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Reinsurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Insurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting revenues</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">257.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">276.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">534.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">255.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">228.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">484.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">268.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">222.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">491.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">255.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">173.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">428.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting Expenses</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Losses and loss expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">102.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">131.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">234.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Policy acquisition expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">51.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">29.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">80.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Operating and administrative expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">23.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">27.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">50.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Underwriting profit/(loss) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(14.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">62.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(9.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net investment income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">72.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Realized investment gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Change in fair value of derivatives </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Interest on long term debt </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(4.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net foreign exchange gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Other income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net income before tax </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">130.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net reserves for loss and loss adjustment expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,917.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,021.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2,938.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Ratios</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Loss ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">40.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">76.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">54.8 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Policy acquisition expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">20.3 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.8 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">18.9 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Operating and administrative expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">9.0 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">15.7 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">14.0 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">29.3 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">32.5 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">32.9 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Combined ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">69.5 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">108.7 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">87.7 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following tables provide a summary of gross and net written and earned premiums, underwriting results, ratios and reserves for each of our business segments for the six months ended June&nbsp;30, 2010 and 2009. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="69%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="7%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Six Months Ended June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Reinsurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Insurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting revenues</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">773.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">474.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,248.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">740.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">378.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,118.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">604.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">436.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,040.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">582.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">365.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">947.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting Expenses</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Losses and loss expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">403.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">252.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">655.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Policy acquisition expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">99.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">62.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">162.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Operating and administrative expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">52.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">42.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">94.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Underwriting profit </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">26.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">35.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(20.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net investment income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">116.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Realized investment gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">18.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Change in fair value of derivatives </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(4.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Interest on long term debt </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(7.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net foreign exchange (losses)/gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Other income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net income before tax </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">141.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net reserves for loss and loss adjustment expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2,189.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,048.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3,238.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Ratios</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Loss ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">69.3 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">69.1 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">69.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Policy acquisition expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">17.1 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">17.1 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">17.1 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Operating and administrative expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">9.0 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">11.6 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">12.1 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">26.1 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">28.7 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">29.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Combined ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">95.4 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">97.8 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">98.4 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="69%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="7%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Six Months Ended June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Reinsurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Insurance</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting revenues</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">710.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">460.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,171.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net written premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">669.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">322.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">991.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Gross earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">556.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">428.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">984.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net earned premiums </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">530.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">345.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">875.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Underwriting Expenses</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Losses and loss expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">224.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">260.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">485.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Policy acquisition expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">103.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">56.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">159.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Operating and administrative expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">41.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">47.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">88.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Underwriting profit/(loss) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">161.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(19.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">142.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(19.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net investment income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">131.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Realized investment (losses)/gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(7.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Change in fair value of derivatives </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Interest on long term debt </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(7.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net foreign exchange gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Other income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net income before tax </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">237.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net reserves for loss and loss adjustment expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,917.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,021.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2,938.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><b>Ratios</b> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Loss ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">42.4 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">75.5 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">55.4 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Policy acquisition expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">19.4 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.3 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">18.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Operating and administrative expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">7.8 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">13.7 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">12.4 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Expense ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">27.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">30.0 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">30.6 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Combined ratio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">69.6 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">105.5 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">86.0 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; 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Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 10 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 3, 4, 5, 6, 7, 8 false 2 18 false HundredThousands HundredThousands NoRounding false true XML 16 R14.xml IDEA: Fair Value Measurements  2.2.0.7 false Fair Value Measurements 10701 - Disclosure - Fair Value Measurements true false false false 1 USD false false Unit1 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit12 Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 5 3 us-gaap_FairValueDisclosuresTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false terselabel false 1 false false false false 0 0 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">7.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Fair Value Measurements</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Fair Value Methodology.</i>&nbsp;&nbsp;Our estimates of fair value for financial assets and liabilities are based on the framework established in the fair value accounting guidance. The framework prioritizes the inputs, which refer broadly to assumptions market participants would use in pricing an asset or liability, into three levels, which are described in more detail below. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">We consider prices for actively traded Treasury (U.S.&nbsp;Government and Foreign Government) securities to be derived based on quoted prices in active markets for identical assets, which are Level&nbsp;1 inputs in the fair value hierarchy. We consider prices for other securities priced via vendors, indices, or broker-dealers to be derived based on inputs that are observable for the asset, either directly or indirectly, which are Level&nbsp;2 inputs in the fair value hierarchy. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">We consider securities, other financial instruments and derivative insurance contracts subject to fair value measurement whose valuation is derived by internal valuation models to be based largely on unobservable inputs, which are Level&nbsp;3 inputs in the fair value hierarchy. There have been no changes in our use of valuation techniques during the year. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Our fixed income securities are traded on the <font style="white-space: nowrap;" class="_mt">over-the-counter</font> market, based on prices provided by one or more market makers in each security. Securities such as U.S.&nbsp;Government, U.S.&nbsp;Agency, Foreign Government and investment grade corporate bonds have multiple market makers in addition to readily observable market value indicators such as expected credit spread, except for Treasury securities, over the yield curve. We use a variety of pricing sources to value our fixed income securities including those securities that have pay down/prepay features such as mortgage-backed securities and asset-backed securities in order to ensure fair and accurate pricing. The fair value estimates of the investment grade securities in our portfolio do not use significan t unobservable inputs or modeling techniques. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table presents our investments within the fair value hierarchy at which the Company's financial assets are measured on a recurring basis at June&nbsp;30, 2010. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="73%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 1</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 2</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 3</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Fixed income maturities <font style="white-space: nowrap;" class="_mt">available-for-sale,</font> at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,149.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">4,218.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">14.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Short-term investments <font style="white-space: nowrap;" class="_mt">available-for-sale,</font> at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">231.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">70.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Fixed income maturities, trading at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">30.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">341.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Short-term investments, trading at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Derivatives at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,411.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">4,632.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">17.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">In the current quarter, we have transferred $109.6 million of foreign government agency securities from Level 1 to Level 2 to bring our classification in line with the presentation for other government agency securities. </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="73%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>December&nbsp;31, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 1</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 2</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 3</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Fixed income maturities <font style="white-space: nowrap;" class="_mt">available-for-sale,</font> at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,029.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">4,205.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">14.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Short-term investments <font style="white-space: nowrap;" class="_mt">available-for-sale,</font> at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">293.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">75.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Fixed income maturities, trading at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">11.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">336.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Short-term investments, trading at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Derivatives at fair value </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,334.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">4,620.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">21.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Fixed income maturities classified as Level&nbsp;3 include holdings where there are significant unobservable inputs in determining the assets' fair value and also securities of Lehman Brothers Holdings, Inc. ("Lehman Brothers"). Although the market value of Lehman Brothers bonds was based on broker dealer quoted prices, management believes that the valuation is based, in part, on market expectations of future recoveries out of bankruptcy proceedings, which involve significant unobservable inputs to the valuation. Derivatives at fair value consist of the credit insurance contract and foreign exchange contracts as described in Note&nbsp;9. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table presents a reconciliation of the beginning and ending balances for all assets measured at fair value on a recurring basis using Level&nbsp;3 inputs for the three and six months ended June&nbsp;30, 2010. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="67%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="9%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="2%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Three Months Ended June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fixed Maturity<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Derivatives at<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Investments</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of April&nbsp;1, 2010 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">16.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">4.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">21.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total unrealized gains or (losses): </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Included in comprehensive income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Included in earnings </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of June&nbsp;30, 2010 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">14.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">17.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="66%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="9%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Six Months Ended June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fixed Maturity<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Derivatives at<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Investments</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of January&nbsp;1, 2010 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">14.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">21.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total unrealized gains or (losses): </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Included in comprehensive income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Included in earnings </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of June&nbsp;30, 2010 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">14.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">17.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table presents a reconciliation of the beginning and ending balances for all assets measured at fair value on a recurring basis using Level&nbsp;3 inputs for the three and six months ended June&nbsp;30, 2009. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="66%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="9%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Three Months Ended June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fixed Maturity<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Derivatives at<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Investments</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of April&nbsp;1, 2009 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">10.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">7.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">17.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Securities transferred in/(out) of Level&nbsp;3 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total unrealized gains or (losses): </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Included in earnings </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Included in comprehensive income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of June&nbsp;30, 2009 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">18.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">23.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="66%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="9%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>Six Months Ended June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fixed Maturity<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Derivatives at<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Investments</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of January&nbsp;1, 2009 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">11.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">14.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Securities transferred in/(out) of Level&nbsp;3 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">14.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">14.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total unrealized gains or (losses): </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Included in earnings </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Included in comprehensive income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Settlements </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(2.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(2.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Level&nbsp;3 assets as of June&nbsp;30, 2009 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">18.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">23.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table presents our liabilities within the fair value hierarchy at which the Company's financial liabilities are measured on a recurring basis at June&nbsp;30, 2010 and December&nbsp;31, 2009. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="77%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 1</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 2</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 3</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Liabilities under derivative contracts: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Credit insurance contract </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="77%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><b>December&nbsp;31, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 1</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 2</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Level 3</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="10" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Liabilities under derivative contracts: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Credit insurance contract </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">9.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table presents a reconciliation of the beginning and ending balances for the liabilities under derivative contracts measured at fair value on a recurring basis using Level&nbsp;3 inputs during the three and six months ended June&nbsp;30, 2010. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="65%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="14%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="12%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Three Months Ended<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Six Months Ended<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Beginning Balance </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">7.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">9.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Settlements </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Ending Balance </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table presents a reconciliation of the beginning and ending balances for the liabilities under derivative contracts measured at fair value on a recurring basis using Level&nbsp;3 inputs during the three and six months ended June&nbsp;30, 2009. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="65%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="14%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="12%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Three Months Ended<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Six Months Ended<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Beginning Balance </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">9.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">11.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Settlements </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Ending Balance </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">7.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">7.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div></div> </div> 7.&nbsp;&nbsp; Fair Value Measurements &nbsp; Fair Value Methodology.&nbsp;&nbsp;Our estimates of fair value for financial assets and liabilities are based false false false us-types:textBlockItemType textblock This item represents the complete disclosure regarding the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the Company is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risk is are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15B -Subparagraph a, b Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 3, 10, 14, 15 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44A, 44B Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32, 33, 34 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15C, 15D Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15A -Subparagraph a-d Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 17-22, 27, 28 false 1 1 false UnKnown UnKnown UnKnown false true XML 17 R15.xml IDEA: Reinsurance  2.2.0.7 false Reinsurance 10801 - Disclosure - Reinsurance true false false false 1 USD false false Unit1 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit12 Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 5 3 us-gaap_ReinsuranceTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false false 1 false false false false 0 0 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="3%"> </td> <td width="97%"> </td></tr> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">8.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Reinsurance</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">We purchase retrocession and reinsurance to limit and diversify our own risk exposure and to increase our own insurance underwriting capacity. These agreements provide for recovery of a portion of losses and loss expenses from reinsurers. As is the case with most reinsurance treaties, we remain liable to the extent that reinsurers do not meet their obligations under these agreements, and therefore, in line with our risk management objectives, we evaluate the financial condition of our reinsurers and monitor concentrations of credit risk. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Balances pertaining to reinsurance transactions are reported "gross" on the consolidated balance sheet, meaning that reinsurance recoverable on unpaid losses and ceded unearned premiums are not deducted from insurance reserves but are recorded as assets. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The largest concentrations of reinsurance recoverables as at June&nbsp;30, 2010, were with Lloyd's on Lloyd's syndicates which are all rated A (Excellent) by A.M.&nbsp;Best and A+ (Strong) by S&amp;P and with Munich Re which is rated A+ (Superior) by A.M.&nbsp;Best and AA- (Very Strong) by S&amp;P, for their financial strength. Balances with Lloyd's and Munich Re represented 29.0% and 10.9%, respectively, of reinsurance recoverables.</div></div> </div> 8.&nbsp;&nbsp; Reinsurance &nbsp; We purchase retrocession and reinsurance to limit and diversify our own risk exposure and to increase our own insurance false false false us-types:textBlockItemType textblock This element may be used as a single block of text to encapsulate the entire disclosure, including data and tables, pertaining to the existence, magnitude and information about insurance which has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 92-5 -Paragraph 19 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 113 -Paragraph 27, 120 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 6, 13 -Article 7 false 1 1 false UnKnown UnKnown UnKnown false true XML 18 R20.xml IDEA: Intangible Assets  2.2.0.7 false Intangible Assets 11301 - Disclosure - Intangible Assets true false false false 1 USD false false Unit1 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit12 Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 5 3 us-gaap_IntangibleAssetsDisclosureTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false terselabel false 1 false false false false 0 0 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">13.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Intangible Assets</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="45%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="11" align="center"><b>Three Months to June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="11" align="center"><b>Three Months to June&nbsp;30, 2009</b> </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Insurance<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Insurance<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Trade Mark</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Licenses</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Other</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Trade Mark</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Licenses</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Other</b> </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Intangible Assets </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Beginning of the period </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Amortization </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">End of the period </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="45%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="11" align="center"><b>Six Months to June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="11" align="center"><b>Six Months to June&nbsp;30, 2009</b> </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Insurance<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Insurance<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Trade Mark</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Licenses</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Other</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Trade Mark</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Licenses</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Other</b> </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Intangible Assets </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Beginning of the period </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Amortization </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">End of the period </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On January&nbsp;22, 2010, we entered into a sale and purchase agreement to purchase APJ Continuation Limited and its subsidiaries ("APJ") for an aggregate consideration of $4.8&nbsp;million. The business writes a specialist account of K&amp;R insurance which will complement our existing political and financial risk line of business. The directors of Aspen Holdings have assessed the fair value of the net tangible and financial assets acquired at $1.2&nbsp;million. The $3.6&nbsp;million intangible asset represents our assessment of the value of renewal rights, distribution channels and employees associated with the business.</div></div> </div> 13.&nbsp;&nbsp; Intangible Assets false false false us-types:textBlockItemType textblock This block of text may be used to disclose all or part of the information related to intangible assets. 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background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="3%"> </td> <td width="97%"> </td></tr> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">9.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Derivative Contracts</font></b> </td></tr></table> <div style="margin-top: 4pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table summarizes information on the location and amounts of derivative fair values on the consolidated balance sheet as at June&nbsp;30, 2010: </div> <div style="margin-top: 8pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="31%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="26%">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="26%">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Derivatives Not<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Designated as<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="4" align="center"><b>Asset Derivatives</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="4" align="center"><b>Liability Derivatives</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Hedging Instruments<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Notional<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center"><b>Balance Sheet<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center"><b>Balance Sheet<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"> <div style="border-bottom: #000000 1px solid; padding-bottom: 1px; width: 1%;"><b>Under ASC&nbsp;815</b> </div></td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amount</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Location</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Location</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr valign="bottom"><td valign="top" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Credit insurance contract </div></td> <td>&nbsp; </td> <td valign="top" nowrap="nowrap" align="left">$ </td> <td valign="top" nowrap="nowrap" align="right">452.0 </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">Derivatives&nbsp;at&nbsp;fair<br />value </td> <td>&nbsp; </td> <td valign="top" nowrap="nowrap" align="left">$ </td> <td valign="top" nowrap="nowrap" align="right">3.1 </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">Liabilities&nbsp;under<br />derivatives </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="top" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign exchange contract </div></td> <td>&nbsp; </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td> <td valign="top" nowrap="nowrap" align="right">&#8212; </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">Derivatives&nbsp;at&nbsp;fair<br />value </td> <td>&nbsp; </td> <td valign="top" nowrap="nowrap" align="left">$ </td> <td valign="top" nowrap="nowrap" align="right">1.2 </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><b><u><font style="font-size: 8pt;" class="_mt">As at December&nbsp;31, 2009:</font></u></b> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="31%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="26%">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="26%">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Derivatives Not<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Designated as<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="4" align="center"><b>Asset Derivatives</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="4" align="center"><b>Liability Derivatives</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Hedging Instruments<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Notional<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center"><b>Balance Sheet<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center"><b>Balance Sheet<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"> <div style="border-bottom: #000000 1px solid; padding-bottom: 1px; width: 1%;"><b>Under ASC&nbsp;815</b> </div></td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amount</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Location</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Location</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr valign="bottom"><td valign="top" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Credit insurance contract </div></td> <td>&nbsp; </td> <td valign="top" nowrap="nowrap" align="left">$ </td> <td valign="top" nowrap="nowrap" align="right">452.4 </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">Derivatives&nbsp;at&nbsp;fair<br />value </td> <td>&nbsp; </td> <td valign="top" nowrap="nowrap" align="left">$ </td> <td valign="top" nowrap="nowrap" align="right">6.7 </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">Liabilities&nbsp;under<br />derivatives </td> <td>&nbsp; </td> <td valign="top" nowrap="nowrap" align="left">$ </td> <td valign="top" nowrap="nowrap" align="right">9.2 </td> <td valign="top" nowrap="nowrap" align="left">&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table provides the total unrealized and realized gains/(losses) recorded in earnings for the three and six months ended June&nbsp;30, 2010 and 2009: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="34%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="38%">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Amount of Gain/(Loss) Recognized in Income</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Derivatives Not Designated as<br /></b></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Six Months Ended</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"> <div style="border-bottom: #000000 1px solid; padding-bottom: 1px; width: 1%;"><b>Hedging Instruments Under ASC&nbsp;815</b> </div></td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Location of Gain/(Loss) Recognized in Income</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Credit Insurance Contract </div></td> <td>&nbsp; </td> <td valign="bottom" align="left">Change in Fair Value of Derivatives </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(4.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(3.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Exchange Contract </div></td> <td>&nbsp; </td> <td valign="bottom" align="left">Net Foreign Exchange Gains and Losses </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Interest Rate Swap </div></td> <td>&nbsp; </td> <td valign="bottom" align="left">Change in Fair Value of Derivatives </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="34%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="38%">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Amount of Gain/(Loss) Recognized in Income</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"><b>Derivatives Not Designated as<br /></b></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Three Months Ended</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="left"> <div style="border-bottom: #000000 1px solid; padding-bottom: 1px; width: 1%;"><b>Hedging Instruments Under ASC&nbsp;815</b> </div></td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" nowrap="nowrap" align="center"><b>Location of Gain/(Loss) Recognized in Income</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Credit Insurance Contract </div></td> <td>&nbsp; </td> <td valign="bottom" align="left">Change in Fair Value of Derivatives </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(2.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(1.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Exchange Contract </div></td> <td>&nbsp; </td> <td valign="bottom" align="left">Net Foreign Exchange Gains and Losses </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Interest Rate Swap </div></td> <td>&nbsp; </td> <td valign="bottom" align="left">Change in Fair Value of Derivatives </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Credit insurance contract.</i>&nbsp;&nbsp;On November&nbsp;28, 2006, the Company entered into a credit insurance contract which, subject to its terms, insures the Company against losses due to the inability of one or more of our reinsurance counterparties to meet their financial obligations to the Company. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The Company considers the contract to be a derivative instrument because the final settlement is expected to take place two years after expiry of cover and include an amount attributable to outstanding and IBNR claims which may not at that point in time be due and payable to the Company. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">As a result of the application of derivative accounting guidance, the contract is treated as an asset or a liability and measured at the directors' estimate of its fair value. Changes in the estimated fair value from time to time will be included in the consolidated statement of operations. </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><br />&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The contract is for a maximum of five years and provides 90% cover for a named panel of reinsurers up to individual defined <font style="white-space: nowrap;" class="_mt">sub-limits.</font> The contract does allow, subject to certain conditions, for substitution and replacement of panel members if the Company's panel of reinsurers changes. Payments are made on a quarterly basis throughout the period of the contract based on the aggregate limit, which was set initially at $477&nbsp;million but is subject to adjustment. The carrying value of the derivative is the Company's maximum exposure to loss. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Foreign exchange contract.</i>&nbsp;&nbsp;The Company uses forward exchange contracts to manage foreign currency risk. A forward foreign currency exchange contract involves an obligation to purchase or sell a specified currency at a future date at a price set at the time of the contract. Foreign currency exchange contracts will not eliminate fluctuations in the value of our assets and liabilities denominated in foreign currencies but rather allow us to establish a rate of exchange for a future point in time. The foreign currency contracts are recorded as derivatives at fair value with changes recorded as a net foreign exchange gain or loss in the Company's statement of operations. As at June&nbsp;30, 2010, the Company had forward contracts that were due to settle on July&nbsp;7, 2010 and had a net unreal ized foreign exchange gain of $1.2&nbsp;million. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Interest rate swap.</i>&nbsp;&nbsp;The Company selectively hedges its exposure in its investment portfolio to interest rates by entering into interest rate swaps with financial institution counterparties in the ordinary course of its investment activities. As at June&nbsp;30, 2010, the Company held a standard fixed for floating interest rate swap with a notional amount of $5.0&nbsp;million that is due to settle on June&nbsp;4, 2013 and has a charge for the quarter of $0.1&nbsp;million (2009&#8212;$Nil). </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div></div> </div> 9.&nbsp;&nbsp; Derivative Contracts &nbsp; The following table summarizes information on the location and amounts of derivative fair values on the false false false us-types:textBlockItemType textblock This element can be used to disclose the entity's entire derivative instruments and hedging activities disclosure as a single block of text. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising there from, and the amounts of and methodologies and assumptions used in determining the amounts of such items. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 45 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44 false 1 1 false UnKnown UnKnown UnKnown false true XML 21 R9.xml IDEA: Basis of Preparation  2.2.0.7 false Basis of Preparation 10201 - Disclosure - Basis of Preparation true false false false 1 USD false false Unit1 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit12 Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 5 3 us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false terselabel false 1 false false false false 0 0 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">2.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Basis of Preparation</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The accompanying unaudited condensed consolidated financial statements have been prepared on the basis of generally accepted accounting principles in the United States ("GAAP") for interim financial information and in accordance with the instructions to <font style="white-space: nowrap;" class="_mt">Form&nbsp;10-Q</font> and Article&nbsp;10 of <font style="white-space: nowrap;" class="_mt">Regulation&nbsp;S-X.</font> Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Results for the three and six months ended June&nbsp;30, 2010 are not necessarily indicative of the results th at may be expected for the year ended December&nbsp;31, 2010. The unaudited condensed consolidated financial statements include the accounts of Aspen Holdings and its wholly-owned subsidiaries, which are collectively referred to herein as the "Company." All intercompany transactions and balances have been eliminated on consolidation. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The balance sheet at December&nbsp;31, 2009 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December&nbsp;31, 2009 contained in Aspen's Annual Report on <font style="white-space: nowrap;" class="_mt">Form&nbsp;10-K</font> filed with the United States Securities and Exchange Commission (File <font style="white-space: nowrap;" class="_mt">No.&nbsp;001-31909).</font> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Assumptions and estimates made by management have a significant effect on the amounts reported within the consolidated financial statements. The most significant of these relate to losses and loss adjustment expenses, the value of investments, reinsurance recoverables and the fair value of derivatives. All material assumptions and estimates are regularly reviewed and adjustments made as necessary, but actual results could be significantly different from those expected when the assumptions or estimates were made. </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <div style="font-family: Arial, Helvetica; background: #ffffff; color: #000000; margin-left: 2%; font-size: 11pt; margin-right: 0%;" align="left"><b><font style="font-family: 'Times New Roman', Times;" class="_mt">New Accounting Pronouncements Adopted in 2010</font></b> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">In June 2009, the Financial Accounting Standards Board ("FASB") issued revised guidance on the accounting for variable interest entities. The revised guidance which was issued as Statement No.&nbsp;167, <i>"Amendments to FASB Interpretation No.&nbsp;46R</i>" and subsequently codified as ASC&nbsp;810 <i>Consolidation, </i>replaces the quantitative approach previously required for determining the primary beneficiary of a variable interest entity with an approach focused on the power to direct activities that significantly impact an entity's economic performance and the obligation to absorb losses of the entity or the right to receive benefits from the entity. It also requires ongoing assessment of whether an enterprise is a variable interest entity ("VIE"). The statement is effective for each annual r eporting period that begins after November&nbsp;15, 2009. In December 2009, the FASB issued Accounting Standards Update ASU <font style="white-space: nowrap;" class="_mt">2009-17,</font> which codifies SFAS&nbsp;No.&nbsp;167. The new guidance did not have a material impact on our consolidated financial statements. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">In December 2009, the FASB issued new guidance on the accounting for the transfer of financial assets. The new guidance, which is now part of ASC&nbsp;860 <i>Transfers and Servicing</i>, eliminates the concept of a qualifying special purpose entity and therefore any qualifying special purpose entities in existence before the effective date will need to be evaluated for consolidation. The criteria for reporting a transfer of financial assets has also changed. The guidance is effective on a prospective basis on January&nbsp;1, 2010 and interim and annual periods thereafter. The new guidance did not have a material impact on our unaudited consolidated financial statements. </div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">In January 2010, the FASB issued ASU <font style="white-space: nowrap;" class="_mt">2010-6,</font> <i>Improving Disclosures About Fair Value Measurements</i>, which requires reporting entities to make new disclosures about recurring or nonrecurring fair value measurements including significant transfers into and out of Level&nbsp;1 and Level&nbsp;2 fair value measurements and information on purchases, sales, issuances and settlements on a gross basis in the reconciliation of Level&nbsp;3 fair value measurements. ASU <font style="white-space: nowrap;" class="_mt">2010-6</font> is effective for annual reporting periods beginning after December&nbsp;15, 2009, except for Level&nbsp;3 reconciliation disclosures which are effective for annual periods beginning after December&nbsp;1 5, 2010. The new guidance did not have a material impact on our unaudited consolidated financial statements.</div></div> </div> 2.&nbsp;&nbsp; Basis of Preparation &nbsp; The accompanying unaudited condensed consolidated financial statements have been prepared on the basis of false false false us-types:textBlockItemType textblock Represents disclosure of any changes in an accounting principle, including a change from one generally accepted accounting principle to another generally accepted accounting principle when there are two or more generally accepted accounting principles that apply or when the accounting principle formerly used is no longer generally accepted. 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The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 25 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 26 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A3 -Appendix A false 7 18 false HundredThousands UnKnown UnKnown false true XML 24 defnref.xml IDEA: XBRL DOCUMENT No authoritative reference available. No authoritative reference available. Acquisitions No authoritative reference available. Short term investments, trading at fair value, amortized cost. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Short-term investments, available for sale at fair value (amortized cost - $301.8 and $368.2) No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Net realized and unrealized (gains) losses No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Intangible Assets Net Including Goodwill No authoritative reference available. No authoritative reference available. No authoritative reference available. Other investment (gains) No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Total insurance reserves No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Short-term investments, available for sale at fair value, amortized cost No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Reserves For Losses And Adjustment Expenses No authoritative reference available. Fixed income maturities, Trading at far value, Amortized Cost No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Amortization of Loss On Derivative Contract No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Unpaid losses No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Reclassification of interest payable No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Value of preferred shares 7.401% No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Value of preferred shares 5.625% No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. XML 25 R21.xml IDEA: Commitments and Contingencies  2.2.0.7 false Commitments and Contingencies 11401 - Disclosure - Commitments and Contingencies true false false false 1 USD false false Unit1 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit12 Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 5 3 us-gaap_CommitmentsAndContingenciesPolicyTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false false 1 false false false false 0 0 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">14.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Commitments and Contingencies</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td width="95%"> </td></tr> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">(a)&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Restricted assets</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">We are obliged by the terms of our contractual obligations to U.S.&nbsp;policyholders and by undertakings to certain regulatory authorities to facilitate the issue of letters of credit or maintain certain balances in trust funds for the benefit of policyholders. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table shows the forms of collateral or other security provided to policyholders as at June&nbsp;30, 2010 and December&nbsp;31, 2009. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="71%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="12%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>As at June&nbsp;30,<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>As at December&nbsp;31,<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions, except percentages)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Assets held in multi-beneficiary trusts </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,630.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,495.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Assets held in single-beneficiary trusts </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">57.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">55.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Secured letters of credit(1) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">507.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">528.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2,195.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">2,079.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total as&nbsp;% of cash and invested assets </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">32.2 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">30.8 </td> <td valign="bottom" nowrap="nowrap" align="left">% </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="border-bottom: #000000 1pt solid; width: 13%; margin-left: 0%; font-size: 1pt; align: left;"> </div> <div style="margin-top: 3pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"> </td> <td width="1%"> </td> <td width="97%"> </td></tr> <tr><td valign="top" align="right"><font style="font-size: 10pt;" class="_mt">(1) </font></td> <td> </td> <td valign="bottom"><font style="font-size: 10pt;" class="_mt">As of June&nbsp;30, 2010, the Company had funds on deposit of $695.6&nbsp;million and &#163;19.2&nbsp;million (December&nbsp;31, 2009&nbsp;&#8212; $667.1&nbsp;million and &#163;18.8&nbsp;million) as collateral for the secured letters of credit. </font></td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On October&nbsp;6, 2009, Aspen U.K. and Aspen Bermuda entered into a $200&nbsp;million secured letter of credit facility with Barclays Bank plc. All letters of credit issued under the facility will be used to support reinsurance obligations of the parties to the agreement and their respective subsidiaries. The Company had $46.0&nbsp;million of outstanding collateralized letters of credit under this facility at June&nbsp;30, 2010. </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><br />&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On April&nbsp;29, 2009, Aspen Bermuda replaced its existing letter of credit facility with Citibank Europe dated October&nbsp;29, 2008 in a maximum aggregate amount of up to $450&nbsp;million with a new letter of credit facility in a maximum aggregate amount of up to $550&nbsp;million. The Company had $368.6&nbsp;million of outstanding collateralized letter of credit under this facility at June&nbsp;30, 2010. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Funds at Lloyd's.</i>&nbsp;&nbsp;AUL operates in Lloyd's as the corporate member for Syndicate 4711. Lloyd's determines Syndicate 4711's required regulatory capital principally based on the syndicate's annual business plan. Such capital, called Funds at Lloyd's, comprises: cash, investments and a fully collateralized letter of credit. The amounts of cash, investments and letter of credit at June&nbsp;30, 2010 amount to $220.1&nbsp;million (December&nbsp;31, 2009&nbsp;&#8212; $219.8&nbsp;million). </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td width="95%"> </td></tr> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">(b)&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Operating leases</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">Amounts outstanding under operating leases net of subleases as of June&nbsp;30, 2010 were: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="59%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Later<br /></b></td> <td>&nbsp; </td> <td valign="bottom" colspan="3" nowrap="nowrap" align="center">&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>2010</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>2011</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>2012</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>2013</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>2014</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Years</b> </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="3" nowrap="nowrap" align="center"><b>Total</b> </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="27" align="center"><b>($ in millions)</b> </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Operating Lease Obligations </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">18.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">47.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <div style="font-family: Arial, Helvetica; background: #ffffff; color: #000000; margin-left: 2%; font-size: 11pt; margin-right: 0%;" align="left"><b><font style="font-family: 'Times New Roman', Times;" class="_mt">(c)&nbsp;&nbsp;Variable interest entities</font></b> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Cartesian Iris 2009A L.P.</i>&nbsp;&nbsp;As disclosed in Note&nbsp;6, on May&nbsp;19, 2009, Aspen Holdings invested $25.0&nbsp;million in Cartesian Iris 2009A L.P. through our wholly-owned subsidiary, Acorn Limited. Cartesian Iris 2009A L.P. is a Delaware Limited Partnership formed to provide capital to Iris Re, a newly formed Class&nbsp;3 Bermudian reinsurer focusing on insurance-linked securities. In addition to returns on our investment, we provide services on risk selection, pricing and portfolio design in return for a percentage of profits from Iris Re. In the three and six months ended June&nbsp;30, 2010, fees of $Nil and $0.2&nbsp;million, respectively, were payable to us. The Company's investment in Cartesian Iris 2009A L.P. represents 31.25% of the equity invested in the partners hip. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The Company has determined that Cartesian Iris 2009A L.P. has the characteristics of a variable interest entity that are addressed by the guidance in ASC&nbsp;810, <i>Consolidation</i>. Cartesian Iris 2009A L.P. is not consolidated by the Company. The Company has no decision-making power, those powers having been reserved for the general partner. The arrangement with Cartesian Iris 2009A L.P. is simply that of an investee to which the Company provides additional services. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The Company's involvement with Cartesian Iris 2009A L.P. is limited to its investment in the partnership and it is not committed to making further investments in Cartesian Iris 2009A L.P. or provide any other funding or guarantees; accordingly, the carrying value of the investment represents the Company's maximum exposure to a loss as a result of its involvement with the partnership at each balance sheet date. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On June&nbsp;1, 2010, the majority of the investment in Cartesian Iris 2009A L.P. matured and was reinvested in the Cartesian Iris Offshore Fund&nbsp;L.P. The remainder of the investment in Cartesian Iris 2009 A L.P. will mature in August, 2010 and will be reinvested in Cartesian Iris Offshore Fund&nbsp;L.P. The Company's involvement with Cartesian Iris Offshore Fund&nbsp;L.P. is limited to its investment in the fund, and it is not committed to making further investments in Cartesian Iris Offshore Fund&nbsp;L.P.; accordingly, the carrying value of the investment represents the Company's maximum exposure to a loss as a result of its involvement with the partnership at each balance sheet date.</div></div> </div> 14.&nbsp;&nbsp; Commitments and Contingencies &nbsp; (a)&nbsp;&nbsp; Restricted assets &nbsp; We are obliged by the terms of our contractual false false false us-types:textBlockItemType textblock Describes an entity's accounting policy for commitments and contingencies, which may include policies for recognizing and measuring loss and gain contingencies. No authoritative reference available. false 1 1 false UnKnown UnKnown UnKnown false true XML 26 R13.xml IDEA: Investments  2.2.0.7 false Investments 10601 - Disclosure - Investments true false false false 1 USD false false Unit1 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit12 Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 5 3 us-gaap_HeldToMaturitySecuritiesTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false terselabel false 1 false false false false 0 0 <div> <div style="font-family: 'Times New Roman',Times,serif;"> <table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">6.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Investments</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Fixed Maturities&nbsp;&#8212; <font style="white-space: nowrap;" class="_mt">Available-For-Sale.</font></i>&nbsp;&nbsp;The following presents the cost, gross unrealized gains and losses, and estimated fair value of available for sale investments in fixed maturities: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="55%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="9%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="14" align="center"><b>As at June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Estimated<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost or<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amortized Cost</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gains</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Losses</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="14" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">676.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">37.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">714.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Agency Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">318.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">27.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">346.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Municipal Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">32.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">32.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,195.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">129.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,321.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">520.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">21.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">542.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Asset-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">72.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Residential Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">31.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">9.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">40.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Commercial Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">150.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">7.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">157.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Agency Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,091.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">57.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,149.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total fixed income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5,088.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">297.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(4.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5,382.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Short term Investments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">301.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">301.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5,390.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">297.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(4.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5,684.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="55%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="9%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="14" align="center"><b>As at December&nbsp;31, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Estimated<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost or<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amortized Cost</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gains</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Losses</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="14" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">492.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">17.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(2.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">507.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Agency Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">368.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">20.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">389.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Municipal Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">20.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">19.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,178.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">90.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,264.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">509.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">13.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">522.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Asset-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">110.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">115.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Residential Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">34.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">42.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Commercial Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">178.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">180.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Agency Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,172.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">40.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,209.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total fixed income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5,064.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">198.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(13.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5,249.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Short term Investments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">368.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">368.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5,432.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">198.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(13.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5,618.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table provides the contractual maturity distribution of our available for sale fixed income investments as of June&nbsp;30, 2010. Actual maturities may differ from contractual maturities because issuers of securities may have the right to call or prepay obligations with or without call or prepayment penalties. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="81%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>As at June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost or<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amortized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Due one year or less </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">328.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">334.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Due after one year through five years </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,149.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,253.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Due after five years through ten years </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,175.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,270.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Due after ten years </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">89.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">98.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Subtotal </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3,743.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3,957.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Residential Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">31.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">40.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Commercial Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">150.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">157.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Agency Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,091.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,149.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Other asset-backed securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">72.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">77.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5,088.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5,382.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Fixed Maturities&nbsp;&#8212; Trading.</i>&nbsp;&nbsp;The following tables presents the cost, gross unrealized gains and losses, and estimated fair value of trading investments in fixed maturities: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="59%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="14" align="center"><b>As at June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost or<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Estimated<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amortized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gains</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Losses</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="14" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">24.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">25.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Agency Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Municipal Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">312.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">19.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">330.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Asset Backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total fixed income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">352.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">20.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(1.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">371.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 12pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="59%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="5%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="14" align="center"><b>As at December&nbsp;31, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost or<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Estimated<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amortized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Cost</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gains</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Losses</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">7.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(0.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">6.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Agency Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Municipal Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">313.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">329.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Asset Backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total fixed income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">332.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">16.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(1.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">348.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The Company classifies these financial instruments as held for trading as this most closely reflects the facts and circumstances of the investments held. The trading portfolio was established in 2009. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Gross unrealized loss.</i>&nbsp;&nbsp;The following tables summarize as at June&nbsp;30, 2010 and December&nbsp;31, 2009, by type of security, the aggregate fair value and gross unrealized loss by length of time the security has been in an unrealized loss position for our available for sale portfolio. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="42%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="22" align="center"><b>As at June&nbsp;30, 2010</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>0-12&nbsp;months</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Over 12&nbsp;months</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Loss</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Loss</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Loss</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="22" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">15.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">15.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Agency Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">25.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">25.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Municipal Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">10.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">10.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">100.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">106.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Asset-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Residential Mortgage- backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Commercial Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">11.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Agency Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">15.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">181.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(3.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">10.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">191.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(4.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="42%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="3%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="4%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="6%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="22" align="center"><b>As at December&nbsp;31, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>0-12&nbsp;months</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Over 12&nbsp;months</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>Total</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Gross<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Unrealized<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Loss</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Loss</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Value</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Loss</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">121.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(2.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">121.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(2.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">U.S. Agency Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">9.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">9.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Municipal Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">15.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">15.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign Government Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">113.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">113.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Corporate Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">319.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">20.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">339.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Asset-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Agency Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">307.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">308.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Residential Mortgage- backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Non-agency Commercial Mortgage-backed Securities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">14.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">43.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">58.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -11pt; margin-left: 21pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">901.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(11.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">71.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(1.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">973.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(13.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">As at June&nbsp;30, 2010, the Company held 100 fixed maturities (December&nbsp;31, 2009&nbsp;&#8212; 277 fixed maturities) in an unrealized loss position with a fair value of $191.5&nbsp;million (December&nbsp;31, 2009&nbsp;&#8212;&nbsp;$973.0&nbsp;million) and gross unrealized losses of $4.1&nbsp;million (December&nbsp;31, 2009&nbsp;&#8212; $13.1&nbsp;million). The Company believes that the gross unrealized losses are attributable to a combination of widening credit spreads and interest rate movements and has concluded that the period during which those investments will remain in an unrealized loss position is temporary. </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i><font style="white-space: nowrap;" class="_mt">Other-than-temporary</font> impairments.</i>&nbsp;&nbsp;The Company recorded <font style="white-space: nowrap;" class="_mt">other-than-temporary</font> impairments for the three and six months ended June&nbsp;30, 2010 of $Nil (2009&nbsp;&#8212; $2.9&nbsp;million) and $0.3&nbsp;million (2009&nbsp;&#8212; $18.1&nbsp;million), respectively. We review all of our investments in fixed maturities designated available for sale for potential impairment each quarter based on criteria including issuer-specific circumstances, credit ratings actions and general macro-economic conditions. The process of determining whether a decline in value is <font style="white-space: nowrap;" class="_mt">"other-than-temporary"</f ont> requires considerable judgment. As part of the assessment process we evaluate whether it is more likely than not that we will sell any fixed maturity security in an unrealized loss position before its market value recovers to amortized cost. Once a security has been identified as <font style="white-space: nowrap;" class="_mt">other-than-temporarily</font> impaired, the amount of any impairment included in net income is determined by reference to that portion of the unrealized loss that is considered to be credit related. Non-credit related unrealized losses are included in other comprehensive income. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>U.S.&nbsp;Government and Agency Securities.</i>&nbsp;&nbsp;U.S.&nbsp;government and agency securities are composed of bonds issued by the U.S.&nbsp;Treasury, Government National Mortgage Association ("GNMA") and government-sponsored enterprises such as Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Bank and Federal Farm Credit Bank. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Corporate Securities.</i>&nbsp;&nbsp;Corporate securities are composed of short-term, medium-term and long-term debt issued by corporations. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Foreign Government.</i>&nbsp;&nbsp;Foreign government securities are composed of bonds issued and guaranteed by foreign governments such as the U.K., Canada, and France. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Municipals.</i>&nbsp;&nbsp;Municipal securities are composed of bonds issued by U.S.&nbsp;municipalities. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Asset-Backed Securities.</i>&nbsp;&nbsp;Asset-backed securities are securities backed by notes or receivables against assets other than real estate. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Mortgage-Backed Securities.</i>&nbsp;&nbsp;Mortgage-backed securities are securities that represent ownership in a pool of mortgages. Both principal and income are backed by the group of mortgages in the pool. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Short-Term Investments.</i>&nbsp;&nbsp;Short-term investments are both money market funds and investments in Treasury bills, discount notes and short coupon paper with a maturity of less than 90&nbsp;days. The money market funds are rated "AAA" by Standard&nbsp;&amp; Poor's ("S&amp;P") <font style="white-space: nowrap;" class="_mt">and/or</font> Moody's Investor Service ("Moody's") and invest in a variety of short-term instruments such as commercial paper, certificates of deposit, floating rate notes and medium-term notes. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Other Investments.</i>&nbsp;&nbsp;On May&nbsp;19, 2009, Aspen Holdings invested $25&nbsp;million in Cartesian Iris 2009A L.P. through our wholly-owned subsidiary, Acorn Limited. Cartesian Iris 2009A L.P. is a Delaware Limited Partnership formed to provide capital to Iris Re, a newly formed Class&nbsp;3 Bermudian reinsurer focusing on insurance-linked securities. In addition to returns on our investment, we provide services on risk selection, pricing and portfolio design in return for a percentage of profits from Iris Re. In the three and six months ended June&nbsp;30, 2010, fees of $Nil (2009&nbsp;&#8212; $Nil) and $0.2&nbsp;million (2009&nbsp;&#8212; $Nil), respectively, were payable to us. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The Company accounts for its investment in accordance with the equity method of accounting. Adjustments to the carrying value of this investment are made based on our share of capital including our share of income and expenses, which is provided in the quarterly management accounts of the partnership. The adjusted carrying value approximates fair value. In the three and six months ended June&nbsp;30, 2010, our share of gains and losses increased the value of our investment by $0.3&nbsp;million (2009&nbsp;&#8212; reduction of $0.3&nbsp;million) and $0.5&nbsp;million (2009&nbsp;&#8212; reduction of $0.3&nbsp;million), respectively. The increase in value has been recognized in realized and unrealized gains and losses in the condensed consolidated statement of operations. For more information see Note&a mp;nbsp;14(c). </div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><br />&nbsp;</div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The Company's involvement with Cartesian Iris 2009A L.P. is limited to its investment in the partnership and it is not committed to making further investments in Cartesian Iris 2009A L.P.; accordingly, the carrying value of the investment represents the Company's maximum exposure to a loss as a result of its involvement with the partnership at each balance sheet date. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">On June&nbsp;1, 2010, the majority of the investment in Cartesian Iris 2009A L.P. matured and was reinvested in the Cartesian Iris Offshore Fund&nbsp;L.P. The remainder of the investment in Cartesian Iris 2009 A L.P. will mature in August, 2010 and will be reinvested in Cartesian Iris Offshore Fund&nbsp;L.P. The Company's involvement with Cartesian Iris Offshore Fund&nbsp;L.P. is limited to its investment in the fund, and it is not committed to making further investments in Cartesian Iris Offshore Fund&nbsp;L.P.; accordingly, the carrying value of the investment represents the Company's maximum exposure to a loss as a result of its involvement with the partnership at each balance sheet date. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Investment Purchases and Sales.</i>&nbsp;&nbsp;The following table sets out an analysis of investment purchases/(sales) and maturities: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="49%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>For the Three Months Ended</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>For the Six Months Ended</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Purchase of fixed maturity investments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">181.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">722.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">785.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">1,373.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">(Proceeds) from sales and maturities of fixed maturity investments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(288.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(482.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(832.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(972.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net purchases/(proceeds) from other investments sold </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">37.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(135.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net (sales)/purchases of short-term investments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">133.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">27.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">91.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net (sales)/purchases </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">25.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">304.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(43.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">357.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"><i>Investment Income.</i>&nbsp;&nbsp;The following is a summary of investment income: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="49%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>For the Three Months Ended</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>For the Six Months Ended</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Fixed maturity investments&nbsp;&#8212; <font style="white-space: nowrap;" class="_mt">Available-for-sale</font> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">53.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">49.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">109.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">102.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Fixed maturity investments&nbsp;&#8212; Trading portfolio </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">8.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Short-term investments&nbsp;&#8212; <font style="white-space: nowrap;" class="_mt">Available-for-sale</font> </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">5.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Fixed term deposits (included in cash and cash equivalents) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">4.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Other investments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">16.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">20.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">59.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">73.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">120.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">134.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Investments expenses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.7 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(3.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net investment income </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">57.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">72.2 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">116.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">131.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table summarizes the pre-tax realized investment gains and losses, and the change in unrealized gains and losses on investments recorded in shareholders' equity and in comprehensive income. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="49%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>For the Three Months Ended</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>For the Six Months Ended</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Pre-tax realized and unrealized investment gains and losses included in income statement: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;"><font style="white-space: nowrap;" class="_mt">Available-for-sale</font> short-term investments and fixed maturities: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Gross realized gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">11.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">12.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">16.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Gross realized (losses) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(7.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(10.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Trading portfolio short-term investments&nbsp;and fixed maturities: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Gross realized gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Gross realized (losses) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(1.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Net change in gross unrealized gains </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Impairments: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Total <font style="white-space: nowrap;" class="_mt">other-than-temporary</font> impairments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(2.9 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(18.1 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Equity accounted investments: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 30pt;">Gross realized gains in Cartesian Iris </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">0.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total pre-tax realized and unrealized investment gains and losses included in income statement: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">5.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">4.8 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">18.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">(7.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Change in <font style="white-space: nowrap;" class="_mt">available-for-sale</font> unrealized gains/losses: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 30pt;">Fixed maturities </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">82.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">41.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">107.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">45.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 30pt;">Short-term investments </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&#8212; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">6.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total change in pre-tax <font style="white-space: nowrap;" class="_mt">available-for-sale</font> unrealized gains/(losses) </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">82.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">48.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">107.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">51.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Change in taxes </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(4.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(11.2 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(7.8 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(13.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Total change in unrealized gains/(losses), net of taxes </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">77.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">37.4 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">99.9 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">38.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br /></p></div> </div> 6.&nbsp;&nbsp; Investments &nbsp; Fixed Maturities&nbsp;&#8212; Available-For-Sale.&nbsp;&nbsp;The following presents the cost, gross unrealized gains and false false false us-types:textBlockItemType textblock This item represents the entire disclosure related to all investments in certain debt and equity securities for which the Company has the positive intent and ability to hold until maturity. 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false false false 1 false false false false 0 0 false false false 2 false false false false 0 0 false false false xbrli:stringItemType string The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. 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Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph d Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A7 -Appendix A Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 20 -Article 9 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 10, 15 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 87-21 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28, 29, 30 false 7 4 us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract us-gaap true na duration No definition available. false false false false false true false false false false false false 1 false false false false 0 0 false false false 2 false false false false 0 0 false false false xbrli:stringItemType string No definition available. false 8 5 us-gaap_DepreciationAmortizationAndAccretionNet us-gaap true debit duration No definition available. false false false false false false false false false false false label false 1 false true false false 9200000 9.2 false false false 2 false true false false 4000000 4.0 false false false xbrli:monetaryItemType monetary The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. 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This element refers to the gain (loss) included in earnings . 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Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 false 15 6 us-gaap_IncreaseDecreaseInUnearnedPremiums us-gaap true debit duration No definition available. false false false false false false false false false false true negated false 1 false true false false 168900000 168.9 false false false 2 false true false false 228900000 228.9 false false false xbrli:monetaryItemType monetary Change during the period in the unearned portion of premiums written, excluding the portion amortized into income. Premiums written are initially booked as unearned premiums and are recognized as revenue over the known or estimated life of the policy. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 false 16 5 us-gaap_IncreaseDecreaseInInsuranceAssetsAbstract us-gaap true na duration No definition available. false false false false false true false false false false false terselabel false 1 false false false false 0 0 false false false 2 false false false false 0 0 false false false xbrli:stringItemType string No definition available. false 17 6 ahl_UnpaidLosses ahl false credit duration Unpaid losses false false false false false false false false false false false terselabel false 1 false true false false 72600000 72.6 false false false 2 false true false false -43400000 -43.4 false false false xbrli:monetaryItemType monetary Unpaid losses No authoritative reference available. false 18 6 us-gaap_IncreaseDecreaseInPrepaidReinsurancePremiums us-gaap true credit duration No definition available. false false false false false false false false false false false terselabel false 1 false true false false -6300000 -6.3 false false false 2 false true false false -89400000 -89.4 false false false xbrli:monetaryItemType monetary The change, in prepaid reinsurance premiums recorded on the balance sheet, is needed to adjust net income to arrive at net cash flows provided by (used in) operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 false 19 6 us-gaap_IncreaseDecreaseInAccruedInvestmentIncomeReceivable us-gaap true credit duration No definition available. false false false false false false false false false false false false 1 false true false false -9300000 -9.3 false false false 2 false true false false -4600000 -4.6 false false false xbrli:monetaryItemType monetary The net change during the reporting period in investment income that has been earned but not yet received in cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 false 20 6 us-gaap_IncreaseDecreaseInDeferredPolicyAcquisitionCosts us-gaap true credit duration No definition available. false false false false false false false false false false false false 1 false true false false -37600000 -37.6 false false false 2 false true false false -36300000 -36.3 false false false xbrli:monetaryItemType monetary The net change during the reporting period in the balance sheet value of capitalized sales costs that are associated with acquiring a new insurance customers. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 false 21 6 us-gaap_IncreaseDecreaseInReinsurancePayables us-gaap true debit duration No definition available. false false false false false false false false false false false false 1 false true false false 45200000 45.2 false false false 2 false true false false 64700000 64.7 false false false xbrli:monetaryItemType monetary The net change during the reporting period in the amount due to other insurance companies when the reporting entity has assumed a portion of the cedant's insurance risk which has resulted in insurance losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 false 22 6 us-gaap_IncreaseDecreaseInPremiumsReceivable us-gaap true credit duration No definition available. false false false false false false false false false false false false 1 false true false false -284400000 -284.4 false false false 2 false true false false -190900000 -190.9 false false false xbrli:monetaryItemType monetary The change in the premium receivable balance on the balance sheet Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 false 23 6 us-gaap_IncreaseDecreaseInFundsHeldUnderReinsuranceAgreements us-gaap true credit duration No definition available. false false false false false false false false false false false terselabel false 1 false true false false 1600000 1.6 false false false 2 false true false false -2500000 -2.5 false false false xbrli:monetaryItemType monetary The change in funds held under reinsurance agreements or treaty (contract between the reinsurer and the ceding entity stipulating the manner in which insurance written on various risks is to be shared). Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 false 24 6 us-gaap_IncreaseDecreaseInDeferredIncomeTaxes us-gaap true credit duration No definition available. false false false false false false false false false false false false 1 false true false false -8000000 -8.0 false false false 2 false true false false 10800000 10.8 false false false xbrli:monetaryItemType monetary The net change during the reporting period in the account that represents the temporary difference that results from income (loss) that is recognized for accounting purposes but not for tax purposes and vice versa. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 false 25 6 us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable us-gaap true debit duration No definition available. false false false false false false false false false false true negated false 1 false true false false -8900000 -8.9 false false false 2 false true false false 15000000 15.0 false false false xbrli:monetaryItemType monetary The net change during the period in the amount of cash payments due to taxing authorities for taxes that are based on the reporting entity's earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 false 26 6 us-gaap_IncreaseDecreaseInAccruedLiabilities us-gaap true debit duration No definition available. false false false false false false false false false false true negated false 1 false true false false -19600000 -19.6 false false false 2 false true false false 27200000 27.2 false false false xbrli:monetaryItemType monetary The net change during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 false 27 6 us-gaap_PaymentsForProceedsFromDerivatives us-gaap true credit duration No definition available. false false false false false false false false false false true negated false 1 false true false false -1200000 -1.2 false false false 2 false true false false 3000000 3.0 false false false xbrli:monetaryItemType monetary The net cash outflow (inflow) associated with derivative instruments, such as swaps, forwards, options, and so forth, excluding those designated as hedges. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 14 -Subparagraph FN4 false 28 6 us-gaap_IncreaseDecreaseInOtherOperatingAssets us-gaap true credit duration No definition available. false false false false false false false false false false false terselabel false 1 false true false false -9600000 -9.6 false false false 2 false true false false 100000 0.1 false false false xbrli:monetaryItemType monetary The net change during the reporting period in other operating assets not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 false 29 6 us-gaap_NetCashProvidedByUsedInOperatingActivities us-gaap true na duration No definition available. false false false false false false false false false false false totallabel false 1 false true false false 247900000 247.9 false false false 2 false true false false 302300000 302.3 false false false xbrli:monetaryItemType monetary The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 true 30 3 us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract us-gaap true na duration No definition available. false false false false false true false false false false false false 1 false false false false 0 0 false false false 2 false false false false 0 0 false false false xbrli:stringItemType string No definition available. false 31 4 us-gaap_PaymentsToAcquireAvailableForSaleSecurities us-gaap true credit duration No definition available. false false false false false false false false false false true negated false 1 false true false false -785900000 -785.9 false false false 2 false true false false -1373100000 -1373.1 false false false xbrli:monetaryItemType monetary The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 17 -Subparagraph b Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 18 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 17 -Subparagraph a false 32 4 us-gaap_ProceedsFromSaleAndMaturityOfOtherInvestments us-gaap true debit duration No definition available. false false false false false false false false false false false terselabel false 1 false false false false 0 0 false false false 2 false true false false 135000000 135.0 false false false xbrli:monetaryItemType monetary The cash inflow associated with the sale and maturity (principal being due) of other investments, prepayment and call (request of early payment) of other investments not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15, 16 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 31 false 33 4 us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt us-gaap true debit duration No definition available. false false false false false false false false false false false terselabel false 1 false true false false 832900000 832.9 false false false 2 false true false false 972800000 972.8 false false false xbrli:monetaryItemType monetary The cash inflow associated with the sale of debt securities classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 16 -Subparagraph a false 34 4 us-gaap_PaymentsForProceedsFromShortTermInvestments us-gaap true credit duration No definition available. false false false false false false false false false false true negated false 1 false true false false -4000000 -4.0 false false false 2 false true false false -91900000 -91.9 false false false xbrli:monetaryItemType monetary The net amount paid (received) by the reporting entity through acquisition (sale/maturities) of short-term investments with an original maturity that is three months or less which qualify for treatment as an investing activity based on management's intention and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 13 false 35 4 us-gaap_ProceedsFromPaymentsForFederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellNet us-gaap true debit duration No definition available. false false false false false false false false false false false terselabel false 1 false true false false 7600000 7.6 false false false 2 false false false false 0 0 false false false xbrli:monetaryItemType monetary The cash flow from the funds lent to and (borrowed from) other financial reporting institutions arising from excess or shortfall in reserve deposited at the Federal Reserve Bank to meet legal requirements. This lending and borrowing is usually contracted on an overnight basis at an agreed rate of interest. Also include cash outflow (inflow) from investments purchased under the agreement to resell such investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15 false 36 4 us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired us-gaap true credit duration No definition available. false false false false false false false false false false true negated false 1 false true false false -3400000 -3.4 false false false 2 false false false false 0 0 false false false xbrli:monetaryItemType monetary The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15, 17 false 37 4 us-gaap_PaymentsToAcquireMachineryAndEquipment us-gaap true credit duration No definition available. false false false false false false false false false false true negated false 1 false true false false -6500000 -6.5 false false false 2 false true false false -2500000 -2.5 false false false xbrli:monetaryItemType monetary The cash outflow for acquisition of machinery and equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 17 -Subparagraph c false 38 4 us-gaap_NetCashProvidedByUsedInInvestingActivities us-gaap true debit duration No definition available. false false false false false false false false false false false totallabel false 1 false true false false 40700000 40.7 false false false 2 false true false false -359700000 -359.7 false false false xbrli:monetaryItemType monetary The net cash inflow (outflow) from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 true 39 3 us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract us-gaap true na duration No definition available. false false false false false true false false false false false false 1 false false false false 0 0 false false false 2 false false false false 0 0 false false false xbrli:stringItemType string No definition available. false 40 4 us-gaap_ProceedsFromIssuanceOfCommonStock us-gaap true debit duration No definition available. false false false false false false false false false false false false 1 false false false false 0 0 &nbsp; &nbsp; false false false 2 false true false false 25100000 25.1 false false false xbrli:monetaryItemType monetary The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 19 -Subparagraph a false 41 4 us-gaap_PaymentsForRepurchaseOfCommonStock us-gaap true credit duration No definition available. false false false false false false false false false false true negated false 1 false true false false -200000000 -200.0 false false false 2 false false false false 0 0 false false false xbrli:monetaryItemType monetary The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 20 -Subparagraph a false 42 4 us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock us-gaap true credit duration No definition available. false false false false false false false false false false true negated false 1 false false false false 0 0 false false false 2 false true false false -34100000 -34.1 false false false xbrli:monetaryItemType monetary The cash outflow for reacquisition of callable preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 20 -Subparagraph a false 43 4 us-gaap_PaymentsOfOrdinaryDividends us-gaap true credit duration No definition available. false false false false false false false false false false true negated false 1 false true false false -23500000 -23.5 false false false 2 false true false false -24600000 -24.6 false false false xbrli:monetaryItemType monetary The cash outflow from distribution of an entity's earnings to common and preferred stockholders, including minority shareholders. This element excludes special dividends, which are included in a separate element for capital distributions. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 20 -Subparagraph a false 44 4 us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock us-gaap true credit duration No definition available. false false false false false false false false false false true negated false 1 false true false false -11400000 -11.4 false false false 2 false true false false -12700000 -12.7 false false false xbrli:monetaryItemType monetary The cash outflow for the return on capital for preferred shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 20 -Subparagraph a false 45 4 us-gaap_NetCashProvidedByUsedInFinancingActivities us-gaap true debit duration No definition available. false false false false false false false false false false false totallabel false 1 false true false false -234900000 -234.9 false false false 2 false true false false -46300000 -46.3 false false false xbrli:monetaryItemType monetary The net cash inflow (outflow) from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 true 46 4 us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents us-gaap true debit duration No definition available. false false false false false false false false false false false terselabel false 1 false true false false -76000000 -76.0 false false false 2 false true false false 12900000 12.9 false false false xbrli:monetaryItemType monetary The effect of exchange rate changes on cash balances held in foreign currencies. 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Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 true 48 4 us-gaap_CashAndCashEquivalentsAtCarryingValue us-gaap true debit instant No definition available. false false false false false false false false true false false periodstartlabel false 1 false true false false 748400000 748.4 false false false 2 false true false false 809100000 809.1 false false false xbrli:monetaryItemType monetary Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased th ree years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. 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It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased th ree years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. 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background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 11pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="5%"> </td> <td width="95%"> </td></tr> <tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">10.&nbsp;&nbsp;</font></b> </td> <td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Reserves for Losses and Adjustment Expenses</font></b> </td></tr></table> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The following table represents a reconciliation of beginning and ending consolidated loss and loss adjustment expenses ("LAE") reserves: </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <table style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr style="font-size: 1pt;" valign="bottom"><td width="71%">&nbsp;</td> <td width="2%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="8%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td> <td width="3%">&nbsp;</td> <td width="1%" align="right">&nbsp;</td> <td width="12%" align="right">&nbsp;</td> <td width="1%" align="left">&nbsp;</td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>As at<br /></b></td> <td>&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>As at<br /></b></td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>June&nbsp;30, 2010</b> </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>December&nbsp;31, 2009</b> </td> <td>&nbsp; </td></tr> <tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" colspan="6" align="center"><b>($ in millions)</b> </td> <td>&nbsp; </td></tr> <tr style="line-height: 3pt; font-size: 1pt;"><td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Provision for losses and LAE at start of year </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3,331.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3,070.3 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Less reinsurance recoverable </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(321.5 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(283.3 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net loss and LAE at start of year </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3,009.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">2,787.0 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net loss and LAE expenses disposed of </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(42.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(10.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Provision for losses and LAE for claims incurred: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Current year </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">670.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">1,032.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Prior years </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(15.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(84.4 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Total incurred </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">655.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">948.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Losses and LAE payments for claims incurred: </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Current year </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(24.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(131.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Prior years </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(286.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(677.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> <div style="text-indent: -10pt; margin-left: 20pt;">Total paid </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(310.0 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(808.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Foreign exchange (gains) losses </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">(74.6 </td> <td valign="bottom" nowrap="nowrap" align="left">) </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">93.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Net losses and LAE reserves at period end </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3,238.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">3,009.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Plus reinsurance recoverable on unpaid losses at period end </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">247.6 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="right">321.5 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td style="border-top: #000000 1px solid;">&nbsp; </td> <td>&nbsp; </td></tr> <tr valign="bottom"><td valign="bottom" align="left"> <div style="text-indent: -10pt; margin-left: 10pt;">Loss and LAE reserves at June&nbsp;30, 2010 and December&nbsp;31, 2009 </div></td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3,485.7 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td> <td>&nbsp; </td> <td valign="bottom" nowrap="nowrap" align="left">$ </td> <td valign="bottom" nowrap="nowrap" align="right">3,331.1 </td> <td valign="bottom" nowrap="nowrap" align="left">&nbsp; </td></tr> <tr style="font-size: 1pt;" valign="bottom"><td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td> <td>&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td style="border-top: #000000 3px double;">&nbsp; </td> <td>&nbsp; </td></tr></table> <div style="text-indent: 0%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left"> </div> <p style="font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; font-size: 11pt;" align="center"><br />&nbsp;</p></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 0pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">For the six months ended June&nbsp;30, 2010, there were reserve releases of $15.0&nbsp;million compared to $26.8&nbsp;million for the six months ended June&nbsp;30, 2009 in our estimate of the ultimate claims to be paid in respect of prior accident years. </div> <div style="margin-top: 6pt; font-size: 1pt;">&nbsp;</div> <div style="text-indent: 4%; font-family: 'Times New Roman', Times; background: #ffffff; color: #000000; margin-left: 0%; font-size: 11pt; margin-right: 0%;" align="left">The $42.4&nbsp;million loss reserve portfolio transfer in the six months ended June&nbsp;30, 2010 relates to the commutation of structured contracts. </div></div> </div> 10.&nbsp;&nbsp; Reserves for Losses and Adjustment Expenses &nbsp; The following table represents a reconciliation of beginning and ending consolidated loss false false false us-types:textBlockItemType textblock Reserves For Losses And Adjustment Expenses No authoritative reference available. false 1 1 false UnKnown UnKnown UnKnown false true
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